# EDGAR Filing Document

**Accession Number:** 0001625297
**File Stem:** 0001193125-26-021660
**Filing Date:** 2026-1
**Character Count:** 2539058
**Document Hash:** dada4a073297986c1dc4daa3fc40e4d1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-021660.hdr.sgml**: 20260126

**ACCESSION NUMBER**: 0001193125-26-021660

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 30

**CONFORMED PERIOD OF REPORT**: 20260123

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Changes in Control of Registrant

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260126

**DATE AS OF CHANGE**: 20260126

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Indivior Pharmaceuticals, Inc.
- **CENTRAL INDEX KEY:** 0001625297
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 412520873
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0123

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37835
- **FILM NUMBER:** 26558399

**BUSINESS ADDRESS:**
- **STREET 1:** 10710 MIDLOTHIAN TURNPIKE
- **STREET 2:** SUITE 125
- **CITY:** NORTH CHESTERFIELD
- **STATE:** VA
- **ZIP:** 23235
- **BUSINESS PHONE:** 804-379-1090

**MAIL ADDRESS:**
- **STREET 1:** 10710 MIDLOTHIAN TURNPIKE
- **STREET 2:** SUITE 125
- **CITY:** NORTH CHESTERFIELD
- **STATE:** VA
- **ZIP:** 23235

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INDIVIOR PLC
- **DATE OF NAME CHANGE:** 20141114

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM 8-K

#### CURRENT REPORT

#### Pursuant to Section 13 OR 15(d)

#### of The Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): January 23, 2026

## INDIVIOR PHARMACEUTICALS, INC.

#### (Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-37835** | **41-2520873** |
| **(State or other jurisdiction<br>of incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer<br>Identification No.)** |

---

---

| | |
|:---|:---|
| **10710 Midlothian Turnpike, Suite 125** |  |
| **North Chesterfield, VA** | **23235** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

#### Registrant's telephone number, including area code: 804-379-1040

#### Indivior PLC

#### (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange<br>on which registered** |
| common stock, $0.001 par value per share | INDV | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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. ☐

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#### Introductory Note

#### Completion of U.S. Domestication
Indivior Pharmaceuticals, Inc., a Delaware corporation ("Indivior U.S."), has become the ultimate parent company of Indivior PLC, a public company limited by shares incorporated under the laws of England and Wales ("Indivior U.K.") and its subsidiaries pursuant to a court-approved scheme of arrangement under Part 26 of the U.K. Companies Act 2006 (the "Scheme of Arrangement") as part of Indivior U.K.'s previously announced intention to change its corporate domicile to the United States (the "U.S. Domestication"). Pursuant to the Scheme of Arrangement, each ordinary share in the capital of Indivior U.K. was cancelled. In consideration for this cancellation, each shareholder received one share of common stock, par value $0.001 per share, of Indivior U.S. for every ordinary share they previously held in Indivior U.K. After the delivery of the order of the High Court of Justice in England and Wales sanctioning the Scheme of Arrangement to the Registrar of Companies in England and Wales, and the close of market trading on January 23, 2026, the Scheme of Arrangement became effective and binding on all shareholders of Indivior U.K., and Indivior U.K. became a wholly-owned subsidiary of Indivior U.S., thereby completing the U.S. Domestication.

Prior to the U.S. Domestication, the ordinary shares of Indivior U.K. were listed on the Nasdaq Global Select Market ("Nasdaq") and registered pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The issuance of shares of common stock of Indivior U.S. pursuant to the Scheme of Arrangement was exempt from registration under Section 3(a)(10) of the Securities Act of 1933, as amended (the "Securities Act"). Further, pursuant to Rule 12g-3(a) under the Exchange Act, Indivior U.S. is the successor issuer to Indivior U.K. and Indivior U.S.'s common stock is therefore deemed to be registered under Section 12(b) of the Exchange Act. Indivior U.S. hereby reports this succession in accordance with Rule 12g-3(f) under the Exchange Act.

Indivior U.K.'s ordinary shares ceased trading prior to the open of trading on January 26, 2026, and Indivior U.K. requested that Nasdaq formally delist the Indivior U.K. ordinary shares. Indivior U.S.'s common stock will begin trading on Nasdaq at the start of trading on January 26, 2026 and will trade under the symbol "INDV," which is the same symbol under which Indivior U.K. ordinary shares previously traded. The CUSIP number for Indivior U.S.'s common stock is 45579U109.

Please refer to the scheme circular and notice of extraordinary general meeting of Indivior U.K., furnished on Form 8-K by Indivior U.K. to the U.S. Securities and Exchange Commission (the "SEC") on November 14, 2025, for additional information about the U.S. Domestication.

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| | |
|:---|:---|
| **Item 1.01** | **Entry into a Material Definitive Agreement.** |

---

The information set forth in the Introductory Note of this Current Report on Form 8-K is incorporated by reference into this Item 1.01.

#### Amendment to Note Purchase Agreement
Effective January 26, 2026, following the effectiveness of the U.S. Domestication, RBP Global Holdings Limited, Piper Sandler Finance LLC, as Administrative Agent and the lenders from time to time party thereto entered into that certain First Amendment to Note Purchase Agreement with respect to the Note Purchase Agreement, dated as of November 4, 2024 (the "Note Purchase Agreement"), by and among RBP Global Holdings Limited, Indivior Global Holdings Limited, Piper Sandler Finance LLC, as Administrative Agent and the lenders from time to time party thereto (the "First Amendment"). The First Amendment reflects that the financial statements, financial position, results of operation, cash flows and other financial matters now will be reported by Indivior U.S. rather than Indivior U.K., and makes certain other changes to the Note Purchase Agreement. The foregoing description of the First Amendment is not intended to be complete and is qualified in its entirety by reference to the First Amendment, a copy of which is included as Exhibit 99.1, and the conformed copy of the Note Purchase Agreement, as amended by the First Amendment, a copy of which is included as Exhibit 10.1 and incorporated herein by reference.

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#### Indemnification Agreements
Effective upon the consummation of the U.S. Domestication, Indivior U.S. authorized the entry into indemnification agreements (the "Indemnification Agreements") with each of Indivior U.S.'s directors and executive officers. The Indemnification Agreements provide for indemnification of the directors and executive officers of Indivior U.S. to the fullest extent permitted under Delaware law as it now exists or may in the future be amended, against all expenses, liabilities and loss incurred in connection with their service as a director or executive officer on behalf of Indivior U.S. In addition, the Indemnification Agreements provide that, to the extent not prohibited by applicable law, Indivior U.S. shall pay the expenses, including attorneys' fees, incurred by a director or executive officer of Indivior U.S., in defending any action, suit or proceeding in advance of its final disposition and the indemnitee undertakes to repay all amounts so advanced if it is ultimately determined that such person is not entitled to be indemnified by Indivior U.S. The foregoing description of the Indemnification Agreements is a general description only and is qualified in its entirety by reference to the form of the Indemnification Agreement, which is filed as Exhibit 10.2, and incorporated herein by reference.

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| | |
|:---|:---|
| **Item 2.03** | **Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.** |

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The information set forth under the heading "Note Purchase Agreement" under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

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| | |
|:---|:---|
| **Item 3.02** | **Unregistered Sale of Equity Securities.** |

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The information set forth in the Introductory Note of this Current Report on Form 8-K is incorporated by reference into this Item 3.02.

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| | |
|:---|:---|
| **Item 3.03** | **Material Modification to the Rights of Security Holders.** |

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The information set forth in the Introductory Note and Item 5.03 of this Current Report on Form 8-K is incorporated by reference into this Item 3.03.

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| | |
|:---|:---|
| **Item 5.01** | **Changes in Control of Registrant.** |

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The information set forth in the Introductory Note of this Current Report on Form 8-K is incorporated by reference into this Item 5.01.

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| | |
|:---|:---|
| **Item 5.02** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.** |

---

#### Directors
In connection with the completion of the U.S. Domestication, the directors of Indivior U.K. immediately prior to the completion of the U.S. Domestication became the directors of Indivior U.S. In addition, following completion of the U.S. Domestication, Indivior U.S. replicated the structure of the committees of the board of directors that previously were in place for Indivior U.K. Membership of the Indivior U.S. board of directors and committees of the Indivior U.S. board of directors following the completion of the U.S. Domestication is as set forth in the first table below.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Director Name** | **Audit<br>Committee** | **Compensation<br>Committee** | **Nominating<br>and Corporate<br>Governance<br>Committee** | **Compliance<br>and Ethics<br>Committee** | **Science** <br>**Committee** |
| Dr. David Wheadon |  | **x** |  |  | **x** |
| Joe Ciaffoni |  |  |  |  |  |
| Dr. Keith Humphreys |  |  |  | **x** | **Chair** |
| Tony Kingsley | **x** | **x** |  |  |  |
| Daniel Ninivaggi |  | **x** | **Chair** |  |  |
| Barbara Ryan | **x** | **Chair** | **x** |  |  |
| Mark Stejbach | **x** |  |  | **Chair** | **x** |
| Juliet Thompson | **Chair** |  | **x** | **x** |  |

---

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#### Executive Officers
The executive officers of Indivior U.S. are set forth in the table below. Additional information regarding Indivior U.S.'s directors, executive officers and committee members was included in Indivior U.K.'s annual report on Form 10-K filed on March 3, 2025 under Item 10, "Directors, Executive Officers, and Corporate Governance" and is incorporated herein by reference.

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| | |
|:---|:---|
| **Officer Name** | **Title** |
| Joe Ciaffoni | Chief Executive Officer |
| Patrick Barry | Chief Commercial Officer |
| Ryan Preblick | Chief Financial Officer |
| Jeffrey Burris | Chief Legal Officer |
| Christian Heidbreder | Chief Scientific Officer |

---

#### Equity Plans
*Existing Plans* 

Upon the completion of the U.S. Domestication, Indivior U.S. assumed the following equity incentive plans and awards thereunder: the Indivior Long-Term Incentive Plan (the "LTIP"); the Indivior 2024 Long-Term Incentive Plan (the "2024 LTIP"); the Indivior Group Deferred Bonus Plan 2018 (the "DBP"); the Indivior PLC U.S. Employee Stock Purchase Plan (the "ESPP"); the Indivior U.K. Savings Related Share Option Plan (the "2014 Savings Plan"); and the Indivior 2024 U.K. Savings Related Share Option Plan (the "2024 Savings Plan") (collectively, the "Existing Plans"). In connection with its assumption of the Existing Plans, Indivior U.S. adopted an omnibus amendment to the Existing Plans (other than the 2024 Savings Plan and the ESPP) (the "Omnibus Amendment") and amended and restated each of the 2024 Savings Plan (the "A&R 2024 Savings Plan") and the ESPP (the "A&R ESPP") in each case to reflect the assumption and changes in applicable law, and to provide for the securities to be issuable in connection with assumed equity awards to be shares of Indivior U.S. common stock instead of Indivior U.K. ordinary shares. The Omnibus Amendment, the A&R 2024 Savings Plan and the A&R ESPP are filed as Exhibits 10.3 through 10.5 hereto and incorporated herein by reference.

*Omnibus Equity Plan* 

Indivior U.S. adopted the Indivior U.S. 2026 Omnibus Equity Incentive Plan (the "2026 Plan") effective upon the completion of the U.S. Domestication. The material terms of the 2026 Plan are summarized below. The summary does not contain all information about the 2026 Plan. This summary is qualified in its entirety by reference to, and should be read together with, the full text of the 2026 Plan, which is attached hereto as Exhibit 10.6.

The maximum number of shares reserved for issuance pursuant to awards that may be granted under the 2026 Plan is equal to the sum of (i) 17,500,000 (inclusive of any awards made pursuant to any sub-plan of the 2026 Plan) and (ii) any shares that are subject to awards under the LTIP, the 2024 LTIP or the DBP that are forfeited or lapse

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unexercised following the effective date of the 2026 Plan. The maximum number of shares that may be delivered upon the exercise of incentive stock options will be equal to 17,500,000 (the "ISO Limit"). The shares covered by the 2026 Plan may be authorized but unissued shares, treasury shares or shares reacquired by Indivior U.S. in any manner or any combination of the foregoing.

The sum of the grant date fair value of equity-based awards and the amount of any cash compensation granted or paid, as applicable, to a non-employee director in any fiscal year will not exceed $1,000,000.

The compensation committee of the Indivior U.S. board of directors (the "Compensation Committee") (or a subcommittee thereof or such other committee of the Indivior U.S. board of directors as may be designated by the Indivior U.S. board of directors) will administer the 2026 Plan and any sub-plans. The Indivior U.S. board of directors may, in its discretion, administer the 2026 Plan or any sub-plan with respect to awards granted to non-employee directors. The 2026 Plan provides that the Compensation Committee may from time to time delegate (i) its authority to grant awards or (ii) the authority (including a power to sub-delegate) to perform specified functions under the 2026 Plan to one or more members of the Indivior U.S. board of directors or one or more officers or employees of Indivior U.S. or an affiliate, provided that no officer will be delegated such authority to grant awards to individuals who are subject to Section 16 of the Exchange Act or to officers or directors who have been delegated the authority to grant or amend awards under the 2026 Plan.

The 2026 Plan provides that awards may be granted to any director, officer, employee or consultant of Indivior U.S. or any of its subsidiaries (including any prospective director, officer, employee or consultant to the extent permitted in accordance with Form S-8 under the Exchange Act). The Compensation Committee determines which of such directors, officers, employees and consultants will be granted awards. No person is entitled to participate in the 2026 Plan as a matter of right. Only those directors, officers, employees and consultants who are selected to receive grants by the Compensation Committee may participate in the 2026 Plan. The 2026 Plan provides that the Compensation Committee may grant or issue stock options (including incentive stock options), stock appreciation rights, restricted shares, restricted stock units, cash incentive awards and other equity-based or equity-related awards, or any combination thereof.

In the event that a change in control of Indivior U.S. occurs and the surviving entity or successor corporation in such change in control does not assume or substitute outstanding awards (or any portion thereof) granted under the 2026 Plan, then, unless the Compensation Committee determines otherwise, such awards will fully vest and become fully exercisable, as applicable, as of immediately prior to such change in control, with performance-based awards vesting at either target level, which may be pro-rated, or actual achievement, as determined by the Compensation Committee. In addition, the Compensation Committee may, in its sole discretion, upon or in anticipation of a change in control, terminate outstanding awards after giving the participant an opportunity to exercise the awards or terminate the awards for no consideration if the awards have no value (as determined by the Compensation Committee in its sole discretion).

In the event of any extraordinary dividend, extraordinary distribution, recapitalization, rights offering, share split, reverse share split, split-up or spin-off, the 2026 Plan provides that the Compensation Committee will make equitable adjustments as the Compensation Committee determines appropriate. In the event of any reorganization, merger, consolidation, combination, repurchase or exchange of shares or other securities of Indivior U.S., issuance of warrants or other rights to purchase shares or other securities of Indivior U.S. or other similar corporate transaction or event or other unusual, extraordinarily or non-recurring event, the 2026 Plan provides that the Compensation Committee may make any equitable adjustment described under the preceding sentence and may also provide that (i) outstanding awards will be cancelled in exchange for a cash payment (or no payment in the case of out-of-the-money options and SARs) and (ii) options and SARs will expire if not exercised prior to a specified date.

The 2026 Plan provides that, subject to applicable law, the Indivior U.S. board of directors may amend, modify, or terminate the 2026 Plan at any time, except that no amendment or termination may, without the consent of the affected participant, materially and adversely affect any rights of such participant with respect to a previously granted award unless otherwise provided in the applicable award agreement. The 2026 Plan will generally require Indivior U.S. to obtain stockholder approval for any amendment that would (other than in connection with certain corporate events, as described above): increase the Share Limit and ISO Limit under the 2026 Plan; expand the class of employees or other individuals eligible to participate in the 2026 Plan; extend the expiration date of the 2026 Plan; or allow for the repricing of options or stock appreciation rights.

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The 2026 Plan will expire on, and no award will be granted pursuant to the 2026 Plan after, the tenth anniversary of the date prior to the date of the U.S. Domestication; provided that the 2026 Plan will remain in effect past such date solely for the purposes of administering previously granted awards that remain outstanding. Any award outstanding on the expiration date of the 2026 Plan will remain in force according to the terms of the 2026 Plan and the applicable award agreement.

#### Non-Employee Director Compensation Policy
In connection with the completion of the U.S. Domestication, each non-employee director of Indivior U.S. will be eligible to receive compensation under the Indivior U.S. Non-Employee Director Compensation Policy (the "<u>Director Compensation Policy</u>"). The Director Compensation Policy supersedes any prior cash and/or equity compensation arrangements for service as a non-employee director of Indivior U.S. or any of its subsidiaries.

Under the Director Compensation Policy, each non-employee director of Indivior U.S. is entitled to receive annual retainers based on positions served on the Indivior U.S. board of directors as follows:

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| | |
|:---|:---|
| **Position** | **Annual** <br>**Cash** <br>**Retainer** |
| Chairperson of the Board of Directors | $100000 |
| Member of the Board of Directors (other than Chairperson) | $75000 |
| Chairperson of the Audit Committee | $30000 |
| Chairperson of the Compensation Committee | $30000 |
| Chairperson of the Nominating and Corporate Governance Committee | $20000 |
| Chairperson of the Science Committee | $20000 |
| Chairperson of the Compliance and Ethics Committee | $20000 |
| Member of the Audit Committee (other than Chairperson) | $15000 |
| Member of the Compensation Committee (other than Chairperson) | $15000 |
| Member of the Nominating and Corporate Governance Committee (other than Chairperson) | $10000 |
| Member of the Science Committee (other than Chairperson) | $10000 |
| Member of the Compliance and Ethics Committee (other than Chairperson) | $10000 |

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Annual retainers are cumulative and paid to the non-employee directors quarterly in arrears.

The Director Compensation Policy also provides that (i) on the date of any annual meeting of Indivior U.S.'s stockholders, each eligible non-employee director will be granted an award of restricted stock units with a grant date fair value of $250,000, (ii) each non-employee director serving upon the completion of the U.S. Domestication will be granted (on the first date of effectiveness of Indivior U.S.'s first registration statement on Form S-8 with respect to the 2026 Plan) an award of restricted stock units with a grant date fair value of $125,000, and (iii) non-employee directors who are appointed after the effectiveness of the U.S. Domestication and prior to the date of the first annual meeting or between annual meetings will receive prorated awards of restricted stock units. For the Chairperson, (i) on the date of any annual meeting of Indivior U.S.'s stockholders, the Chairperson will be granted an award of restricted stock units with a grant date fair value of $400,000, and (ii) the Chairperson serving upon the completion of the U.S. Domestication will be granted (on the first date of effectiveness of Indivior U.S.'s first registration statement on Form S-8 with respect to the 2026 Plan) an award of restricted stock units with a grant date fair value of $200,000. Each such restricted stock unit grant will be eligible to vest in full on the earlier of the first anniversary

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of the date of grant, the day immediately preceding the subsequent annual meeting of Indivior U.S. stockholders and immediately prior to the occurrence of a "change in control" (as defined in the 2026 Plan), in each case subject to the applicable non-employee director's continued service through the applicable vesting date; provided that, notwithstanding the foregoing, each such restricted stock grant will earlier vest upon a non-employee director's termination of service due to death or disability. The Director Compensation Policy is filed as Exhibit 10.7 hereto and incorporated herein by reference.

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| | |
|:---|:---|
| **Item 5.03** | **Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.** |

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In connection with the U.S. Domestication, on October 28, 2025 Indivior U.S. filed its Certificate of Incorporation with the Secretary of State of the State of Delaware, a copy of which is attached hereto as Exhibit 3.1 (the "<u>Certificate</u>"). In addition, Indivior U.S. adopted Bylaws, a copy of which is attached hereto as Exhibit 3.2 (the "<u>Bylaws</u>"). A summary of the material terms of the Certificate and the Bylaws of Indivior U.S. is set forth under the heading "Description of Indivior U.S. Capital Stock" under Item 8.01 of this Current Report on Form 8-K and is incorporated by reference into this Item 5.03. Such descriptions do not purport to be complete and are qualified in their entirety by reference to the full text of the Certificate and the Bylaws, copies of which are attached hereto as Exhibits 3.1 and 3.2 hereto, respectively, each of which is incorporated herein by reference.

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| | |
|:---|:---|
| **Item 5.05** | **Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics.** |

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Effective January 26, 2026, Indivior U.S. adopted a Global Code of Conduct which applies to all directors, officers, and employees of Indivior U.S., and a Code of Ethics for Senior Financial Officers, each of which are substantially the same as those of Indivior U.K. The foregoing description does not purport to be complete and is qualified in its entirety by reference to the full text of the Global Code of Conduct and the Code of Ethics for Senior Financial Officers, copies of which are available on its website at www.indivior.com, and each of which is incorporated herein by reference.

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| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure.** |

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On January 26, 2026, Indivior U.S. issued a press release announcing the effectiveness of the Scheme of Arrangement and the completion of the U.S. Domestication. A copy of the press release is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.

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| | |
|:---|:---|
| **Item 8.01** | **Other Events.** |

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#### Description of Indivior U.S. Capital Stock
Indivior U.S. has one class of securities registered under Section 12 of the Exchange Act: its common stock. The following description of Indivior U.S.'s capital stock is a summary. This summary is subject to the General Corporation Law of the State of Delaware (the "<u>DGCL</u>") and the complete text of the Certificate and Bylaws which are incorporated herein by reference.

*General* 

Indivior U.S.'s authorized capital stock consists of 700,000,000 shares of common stock, par value $0.001 per share, and 70,000,000 shares of preferred stock, par value $0.01 per share.

*Common Stock* 

Indivior U.S. has one class of authorized common stock. It is registered under Section 12 of the Exchange Act and trades on the Nasdaq Global Select Market under the ticker symbol "INDV."

*Voting Rights* 

Shares of Indivior U.S. common stock are entitled to one vote per share. Stockholders will not be entitled to cumulative voting for the election of directors. As a result, the holders of a majority of Indivior U.S.'s voting power will be able to elect all of the directors then standing for election.

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*Dividends* 

Any dividend or distribution paid or payable to the holders of shares of Indivior U.S. common stock shall be paid pro rata, on an equal priority, pari passu basis.

*Liquidation* 

In the event of Indivior U.S.'s liquidation, dissolution or winding up, Indivior U.S.'s remaining assets legally available for distribution to stockholders shall be distributed ratably on a per share basis to the holders of shares of Indivior common stock. These provisions will also apply in the event of certain mergers, consolidations, business combination or other similar change in control transactions.

*No Pre-Emptive or Similar Rights* 

Holders of shares of Indivior U.S. common stock have no preemptive, subscription or redemption rights. There are no redemption or sinking fund provisions applicable to Indivior U.S. common stock.

*Fully Paid and Non-Assessable* 

All of the outstanding shares of Indivior U.S. common stock are fully paid and non-assessable.

*Preferred Stock* 

The Indivior U.S. Certificate authorizes the board of directors of Indivior U.S. to issue preferred stock in one or more series from time to time and to determine the preferences, limitations and relative rights of any shares of preferred stock that it shall choose to issue, without vote or action by the stockholders.

*Annual Stockholder Meetings* 

The Indivior Bylaws provide that annual stockholder meetings will be held at a date, place (if any) and time, as exclusively selected by the Indivior U.S. board of directors. To the extent permitted under applicable law, Indivior U.S. may but is not obligated to conduct meetings by remote communications, including by webcast.

*Anti-Takeover Effects of Provisions of the Indivior U.S. Certificate and Bylaws and Delaware Law* 

The DGCL and the Indivior U.S. Certificate and Bylaws contain provisions that may delay, defer, or discourage another party from acquiring control of Indivior U.S. Indivior U.S. expects that these provisions, which are summarized below, will discourage coercive takeover practices or inadequate takeover bids. These provisions are also designed to encourage persons seeking to acquire control of Indivior U.S. to first negotiate with Indivior U.S.'s board of directors, which Indivior U.S. believes may result in an improvement of the terms of any such acquisition in favor of Indivior U.S. stockholders. However, they will also give Indivior U.S.'s board of directors the power to discourage acquisitions that some stockholders may favor.

*Delaware Anti-Takeover Statute* 

Indivior U.S. is subject to Section 203 of the DGCL, which prohibits persons deemed "interested stockholders" from engaging in a "business combination" with a publicly-held Delaware corporation for three years following the date these persons become interested stockholders unless the business combination is, or the transaction in which the person became an interested stockholder was, approved in a prescribed manner or another prescribed exception applies. Generally, an "interested stockholder" is a person who, together with affiliates and associates, owns, or within three years prior to the determination of interested stockholder status did own, 15% or more of a corporation's voting stock and a "business combination" includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder. The existence of this provision may have an anti-takeover effect with respect to transactions not approved in advance by the Indivior U.S. board of directors, such as discouraging takeover attempts that might result in a premium over the market price of the Indivior U.S. common stock.

------

*Undesignated Preferred Stock* 

The ability to authorize undesignated preferred stock will make it possible for the Indivior U.S. board of directors to issue preferred stock with voting or other rights or preferences that could impede the success of any attempt to change control of Indivior U.S. These and other provisions may have the effect of deterring hostile takeovers or delaying changes in control or management of Indivior U.S.

*Stockholder Action by Written Consent; Ability of Stockholders to Call Special Stockholder Meetings* 

Indivior U.S.'s Certificate provides that any action required or permitted to be taken by its stockholders must be effected at a duly called annual or special meeting of its stockholders and may not be effected by any consent in writing by its stockholders. Indivior U.S.'s Bylaws further provide that special meetings of its stockholders may be called only by a majority of Indivior U.S.'s board of directors, the chairperson of the board of directors, the Chief Executive Officer or stockholders who own at least 20% of the shares outstanding. These provisions might delay the ability of Indivior U.S. stockholders to force consideration of a proposal or for stockholders to take any action, including the removal of directors.

*Advance Notice Requirements for Stockholder Proposals and Director Nominations* 

Indivior U.S.'s Bylaws provide advance notice procedures for stockholders seeking to bring business before Indivior U.S.'s annual meeting of stockholders or to nominate candidates for election as directors at Indivior U.S.'s annual meeting of stockholders. Indivior U.S.'s Bylaws also specify certain requirements regarding the form and content of a stockholder's notice. These provisions might preclude Indivior stockholders from bringing matters before the annual meeting of stockholders or from making nominations for directors at the annual meeting of stockholders if the proper procedures are not followed. Indivior U.S. expects that these provisions might also discourage or deter a potential acquirer from conducting a solicitation of proxies to elect the acquirer's own slate of directors or otherwise attempting to obtain control of Indivior U.S.

*Composition of the Board of Directors; Election and Removal of Directors; Filling Vacancies* 

The Indivior U.S. board of directors is authorized to fix the number of directors which will constitute the whole board. In any uncontested elections of directors, a director nominee for the Indivior U.S. board of directors will be elected by the affirmative vote of a majority of the votes cast with respect to such director by the shares represented and entitled to vote at a meeting of the stockholders for the election of directors at which a quorum is present, voting together as a single class. An incumbent director who is nominated for an uncontested election and fails to receive a majority of the votes present and voting for such director's re-election would be expected to offer to tender their resignation to Indivior U.S. The Nominating and Corporate Governance Committee of the Indivior U.S. board of directors (or any future committee the equivalent thereof) will make a recommendation to the Indivior U.S. board of directors on whether to accept or reject the resignation, or whether other action should be taken. The Indivior U.S. board of directors will act on the recommendation of such committee and will publicly disclose its decision within 90 days from the date of the certification of the election results. In a contested election, a plurality voting standard will apply to director elections. The directors of Indivior U.S. are elected until the expiration of the term for which they are elected and until their respective successors are duly elected and qualified. The directors of Indivior U.S. may be removed only by the affirmative vote of the holders of at least a majority of the voting power of all then-outstanding voting stock. Furthermore, any vacancy on the Indivior U.S. board of directors, however occurring, including a vacancy resulting from an increase in the size of the board, may be filled only by a majority vote of the directors then in office, even if less than a quorum, or by the sole remaining director, unless Indivior U.S.'s board of directors determines that such directorship or vacancy will be filled by the stockholders. This system of electing and removing directors and filling vacancies may tend to discourage a third party from making a tender offer or otherwise attempting to obtain control of Indivior U.S. because it generally makes it more difficult for stockholders to replace a majority of the directors.

------

*Choice of Forum* 

The Indivior U.S. Certificate provides that, unless Indivior U.S. consents in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware will be the exclusive forum for (i) any derivative action, suit or proceeding brought on Indivior U.S.'s behalf; (ii) any action, suit or proceeding asserting a breach of a duty including fiduciary duty; (iii) any action, suit or proceeding asserting a claim against Indivior U.S. arising pursuant to the DGCL, the Indivior U.S. Certificate or Bylaws; (iv) any action to interpret, apply, enforce or determine the validity of the U.S. Certificate and Bylaws; (v) any action asserting a claim against Indivior U.S. that is governed by the internal affairs doctrine; (vi) any action asserting an "internal corporate claim" (as defined the DGCL Section 115); or (vii) any action as to which the DGCL confers jurisdiction on the Court of Chancery. Although the Indivior U.S. governing documents contain the choice of forum provision described above, it is possible that a court could find that such a provision is inapplicable for a particular claim or action or that such provision is unenforceable. Notwithstanding the foregoing, federal district courts are the sole and exclusive forum for the resolution of any complaint asserting a cause of action under the Securities Act of 1933 against Indivior U.S. or any of its officers, directors, employees or agents.

*Limitations of Liability and Indemnification Matters* 

The Indivior U.S. Certificate provides that Indivior U.S.'s directors and officers will not be personally liable to Indivior U.S. or its stockholders for monetary damages for any breach of fiduciary duty as a director or officer, except to the extent such exemption from liability or limitation is not permitted under the DGCL, as may be amended. The DGCL provides that the certificate of incorporation may not eliminate or limit the liability of:

• a director or officer for any breach of the director's or officer's duty of loyalty to Indivior U.S. or its stockholders;

• a director or officer for any act or omission not in good faith or that involves intentional misconduct or a knowing violation of law;

• a director pursuant to Section 174 of the DGCL;

• a director or officer for any transaction from which the director or officer derived an improper personal benefit; or

• an officer for any action brought by or in the right of the corporation, including derivative claims.

Indivior U.S.'s Bylaws provide that Indivior U.S. must indemnify its directors and officers to the fullest extent permitted by law. Indivior U.S. is also required to advance certain expenses (including attorneys' fees) to its directors and officers and is expressly authorized to carry directors' and officers' insurance providing indemnification for its directors and officers for some liabilities. In addition, Indivior U.S. has entered into separate indemnification agreements with each of its directors and executive officers. Indivior U.S. believes that these bylaw provisions, insurance and indemnification agreements are necessary to attract and retain qualified persons as directors and officers. The limitation of liability and indemnification provisions in Indivior U.S's Certificate and Bylaws may discourage stockholders from bringing a lawsuit against Indivior U.S. directors and officers for breach of their fiduciary duty. They may also reduce the likelihood of derivative litigation against Indivior U.S. directors and officers, even though an action, if successful, might benefit Indivior U.S. and its stockholders. Furthermore, a stockholder's investment may be adversely affected to the extent that Indivior U.S. pays the costs of settlement and damage.

*Stock Exchange Listing* 

The shares of Indivior U.S. common stock are listed on the Nasdaq Global Select Market under the symbol "INDV", the same symbol under which the Indivior U.K. ordinary shares were previously listed.

*Transfer Agent and Registrar* 

The transfer agent and registrar for Indivior U.S.'s common stock is Computershare Trust Company, N.A.

------

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit<br>No.** | **Description** |
| 3.1# | [Certificate of Incorporation of Indivior Pharmaceuticals, Inc. filed October 28, 2025.](d87169dex31.htm) |
| 3.2# | [Bylaws of Indivior Pharmaceuticals, Inc.](d87169dex32.htm) |
| 10.1# | [Note Purchase Agreement, first made as of November 4, 2024, by and among by and among RBP Global Holdings Limited, Indivior Global Holdings Limited, Piper Sandler Finance LLC, as Administrative Agent and the lenders from time to time party thereto, as amended by that certain First Amendment to Note Purchase Agreement effective January 26, 2026.](d87169dex101.htm) |
| 10.2# | [Form of Indemnification Agreement.](d87169dex102.htm) |
| 10.3# | [Omnibus Amendment to the Indivior 2024 Long-Term Incentive Plan, Indivior Long-Term Incentive Plan, Indivior Group Deferred Bonus Plan 2018 and Indivior U.K. Savings Related Share Option Plan.](d87169dex103.htm) |
| 10.4# | [Amended and Restated Indivior U.K. Savings Related Share Option Plan.](d87169dex104.htm) |
| 10.5# | [Indivior Pharmaceuticals, Inc. Amended and Restated U.S. Employee Stock Purchase Plan.](d87169dex105.htm) |
| 10.6.1# | [Indivior Pharmaceuticals, Inc. 2026 Omnibus Equity Incentive Plan](d87169dex1061.htm) |
| 10.6.2# | [Form of Restricted Stock Unit Award Agreement (Non-Employee Directors) under the Indivior Pharmaceuticals, Inc. 2026 Omnibus Equity Incentive Plan.](d87169dex1062.htm) |
| 10.6.3# | [Form of Restricted Stock Unit Award Agreement under the Indivior Pharmaceuticals, Inc. 2026 Omnibus Equity Incentive Plan.](d87169dex1063.htm) |
| 10.6.4# | [Form of Performance Stock Unit Award Agreement under the Indivior Pharmaceuticals, Inc. 2026 Omnibus Equity Incentive Plan.](d87169dex1064.htm) |
| 10.7# | [Indivior Pharmaceuticals, Inc. Non-Employee Director Compensation Policy.](d87169dex107.htm) |
| 19.1# | [Indivior Pharmaceuticals, Inc. Insider Trading Policy.](d87169dex191.htm) |
| 97.1# | [Indivior Pharmaceuticals, Inc. Executive Compensation Clawback Policy.](d87169dex99.htm) |
| 99.1# | [Amendment No. 1 to Note Purchase Agreement, dated as of November 4, 2024, by and among by and among RBP Global Holdings Limited, Indivior Global Holdings Limited, Piper Sandler Finance LLC, as Administrative Agent and the lenders from time to time party thereto, effective January 26, 2026.](d87169dex991.htm) |
| 99.2# | [Press Release dated January 26, 2026.](d87169dex992.htm) |
| 104.1 | Cover page interactive data file (embedded within the Inline XBRL document). |

---

# Filed herewith

------

#### 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 hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  |  | **Indivior Pharmaceuticals, Inc.** |
| Date: January 26, 2026 | By: | /s/ Ryan Preblick |
|  | Name: | Ryan Preblick |
|  | Title: | Chief Financial Officer |

---

## Exhibit 3.1

**Exhibit 3.1** 

**CERTIFICATE OF INCORPORATION** 

**OF** 

**INDIVIOR PHARMACEUTICALS, INC.** 

**ARTICLE ONE** 

**NAME** 

The name of the corporation is Indivior Pharmaceuticals, Inc. (the "<u>Corporation</u>").

**ARTICLE TWO** 

**REGISTERED OFFICE AND AGENT** 

The address of the Corporation's registered office in the State of Delaware is 8 The Green, Ste R, Dover, DE 19901. The name of the Corporation's registered agent at such address is Resident Agents Inc.

**ARTICLE THREE** 

**PURPOSE AND POWERS** 

The nature and purpose of the business of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware (the "<u>DGCL</u>").

**ARTICLE FOUR** 

**CAPITAL STOCK** 

Section 1 <u>Authorized Shares</u>. The total number of shares of capital stock which the Corporation shall have authority to issue is 700,000,000 shares of common stock, par value $0.001 per share (the "<u>Common Stock</u>") and 70,000,000 shares of preferred stock, par value $0.01 per share (the "<u>Preferred Stock</u>").

Section 2 <u>Common Stock</u>. The Common Stock shall have the designations, rights, powers and preferences and the qualifications, restrictions and limitations thereof, if any, set forth below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each holder of Common Stock shall be entitled to one vote for each share of Common Stock held of record by such holder on all matters on which stockholders generally are entitled to vote; *provided*, *however*, that, except as otherwise required by the DGCL or other applicable law, holders of Common Stock shall not be entitled to vote on any amendment to this Certificate of Incorporation (including any certificate of designations relating to any series of Preferred Stock) that relates solely to the terms of one or more outstanding classes or series of Preferred Stock if the holders of such affected series are entitled, either separately or together with the holders of one or more other such classes or series, to vote thereon pursuant to this Certificate of Incorporation (including any certificate of designations relating to any series of Preferred Stock) or pursuant to the DGCL. Subject to the rights of the holders of any series of Preferred Stock, the number of authorized shares of Common Stock and Preferred Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the requisite vote of the holders of the capital stock of the Corporation entitled to vote thereon (including any vote of the holders of one or more series of Preferred Stock that may be required by the terms of this Amended and Restated Certificate of Incorporation (including any certificate of designations relating to any series of Preferred Stock)) and no vote of the holders of either the Common Stock or the Preferred Stock voting separately as a class shall be required therefor irrespective of the provisions of Section 242(b)(2) of the DGCL.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to applicable law and the rights, if any, of the holders of any outstanding series of Preferred Stock or any class or series of stock having a preference over or the right to participate with the Common Stock with respect to the payment of dividends and other distributions in cash, property or shares of capital stock of the Corporation, dividends and other distributions may be declared by the Board of Directors (the "<u>Board</u>") from time to time and paid ratably on the Common Stock out of the assets of the Corporation that are by law available therefor at such times and in such amounts as the Board in its discretion shall determine.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Corporation, subject to the right, if any, of the holders of any outstanding series of Preferred Stock or any class or series of stock having a preference over or the right to participate with the Common Stock as to distributions upon dissolution or liquidation or winding up of the Corporation, the holders of issued and outstanding shares of Common Stock shall be entitled to receive ratably, in proportion to the total number of shares of Common Stock held by each holder, all the remaining assets and funds of the Corporation available for distribution to its stockholders, whether from capital or surplus in accordance with the DGCL. For the avoidance of doubt, a dissolution, liquidation or winding up shall not be deemed to be occasioned by or to include, without limitation, any voluntary consolidation, reorganization, conversion or merger of the Corporation with or into any other corporation or entity or other corporations or entities or a sale, lease, transfer, exchange or conveyance of all or a part of the Corporation's assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Shares of Common Stock shall not entitle any holder thereof to any pre-emptive, subscription, redemption or conversion rights.

Section 3 <u>Preferred Stock</u>. The Board is hereby empowered, without any action or vote by the Corporation's stockholders (except as may otherwise be provided by the terms of any series of Preferred Stock then outstanding), to authorize by resolution or resolutions from time to time the issuance of one or more series of Preferred Stock and to fix the designations, powers, preferences and relative, participating, optional or other rights, if any, and the qualifications, limitations or restrictions thereof, if any, with respect to each such series of Preferred Stock and the number of shares constituting each such series, and to increase or decrease the number of shares of any such series to the extent permitted by the DGCL.

**ARTICLE FIVE** 

**BYLAWS** 

Section 1 <u>Amendment of Bylaws by Board of Directors</u>. In furtherance and not in limitation of the powers conferred by law, the Board is expressly authorized and empowered to adopt, amend, alter, or repeal the bylaws of the Corporation (as amended, restated, modified and/or supplemented from time to time, the "<u>Bylaws</u>") without any action on the part of the stockholders.

Section 2 <u>Amendment of Bylaws by Stockholders</u>. The stockholders shall also have the power to adopt, amend, alter, or repeal the Bylaws through the affirmative vote of stockholders representing a majority in voting power of the outstanding shares of capital stock of the Corporation entitled to vote thereon.

**ARTICLE SIX** 

**BOARD OF DIRECTORS** 

Section 1 <u>Board of Directors</u>. Except as otherwise provided in this Certificate of Incorporation or the DGCL, the business and affairs of the Corporation shall be managed by or under the direction of the Board.

Section 2 <u>Number of Directors</u>. The total number of directors constituting the Board shall be determined by or in the manner provided in the Bylaws.

Section 3 <u>Election and Term of Office</u>. Directors shall be elected to hold office until the first annual meeting of stockholders held after such director's election or appointment and, unless the number of directors is reduced effective at such annual meeting in accordance with <u>Article Six</u>, <u>Section</u> <u>2</u>, until such director's successor shall have been elected and qualified or until his or her earlier death, resignation, disqualification or removal. Elections of directors need not be by written ballot unless the Bylaws shall so provide.

Section 4 <u>Newly Created Directorships and Vacancies</u>. Newly created directorships resulting from any increase in the total number of directors and vacancies on the Board resulting from death, resignation, disqualification, removal or other cause shall only be filled by the affirmative vote of a majority of the remaining directors then in office or by a sole remaining director, even though less than a quorum of the Board. Any director appointed in accordance with this <u>Section</u> <u>4</u> shall hold office until the first annual meeting of the stockholders held after such director's appointment for the purpose of electing directors and, unless the number of directors is reduced effective at such annual meeting in accordance with <u>Article Six</u>, <u>Section</u> <u>2</u>, until such director's successor shall have been elected and qualified or until his or her earlier death, resignation, disqualification or removal.

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Section 5 <u>Removal and Resignation of Directors</u>. Subject to the rights of the holders of any outstanding series of Preferred Stock, directors may be removed with or without cause upon the affirmative vote of stockholders representing a majority of the voting power of the then outstanding shares of the Corporation entitled to vote generally in the election of directors, at a meeting of the Corporation's stockholders called for that purpose. Any director may resign at any time upon notice in writing or by electronic transmission to the Corporation as provided in the Bylaws.

Section 6 <u>Advance Notice</u>. Advance notice of stockholder nominations for the election of directors and of any other business to be brought by stockholders before any meeting of the stockholders of the Corporation shall be given in the manner provided in the Bylaws.

**ARTICLE SEVEN** 

**INDEMNIFICATION** 

Section 1 <u>Limitation of Liability</u>. To the fullest extent permitted by the DGCL, as it now exists or may hereafter be amended, a director or officer of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director or officer.

Section 2 <u>Indemnification</u>. To the fullest extent permitted by the DGCL, as it now exists or may hereafter be amended, the Corporation is authorized to provide indemnification of (and advancement of expenses to) directors, officers and agents of the Corporation (and any other persons to which the DGCL permits the Corporation to provide rights to indemnification or advancement of expenses) through provisions in the Bylaws, agreements with such directors, officers, agents or other persons, votes of stockholders or disinterested directors, or otherwise.

Section 3 <u>Amendments</u>. Neither the amendment nor repeal of this <u>Article Seven</u>, nor the adoption of any provision of this Certificate of Incorporation inconsistent with this <u>Article Seven</u>, nor, to the fullest extent permitted by law, any modification of the relevant provisions of the DGCL or any other law shall: (i) eliminate, reduce or otherwise adversely affect any right or protection of a current or former director, officer or agent of the Corporation (or any other person to which the DGCL permits the Corporation to provide rights to indemnification or advancement of expenses) existing at the time of such amendment, repeal, adoption or modification with respect to any acts or omissions of such director, officer, agent or other person that occurred or allegedly occurred prior to, such amendment, repeal or modification; or (ii) increase the liability of a current or former director, officer or agent of the Corporation (or any other person to which the DGCL permits the Corporation to provide rights to indemnification or advancement of expenses) with respect to any acts or omissions of such director, officer, agent or other person that occurred or allegedly occurred prior to, such amendment, repeal or modification. For the avoidance of doubt, if the DGCL is amended to (i) authorize corporate action further eliminating or limiting the personal liability of directors or officers of the Corporation, then the liability of a director or officer of the Corporation shall be eliminated or limited to the fullest extent permitted by the DGCL as so amended or (ii) increase the extent to which a corporation may indemnify (or advance expenses to) its directors, officers and agents (and any other persons to which the DGCL permits the Corporation to provide rights to indemnification or advancement of expenses), then the Corporation shall be authorized to provide indemnification (and advancement of expenses) to the fullest extent permitted by the DGCL.

**ARTICLE EIGHT** 

**MEETINGS OF STOCKHOLDERS** 

Section 1 <u>Action by Consent of Stockholders</u>. Any action required or permitted to be taken by the Corporation's stockholders may be taken only at a duly called annual or special meeting of the Corporation's stockholders, and the power of stockholders to act by consent without a meeting is specifically denied; *provided*, *however*, that, to the extent expressly permitted by the certificate of designation relating to one or more series of Preferred Stock, any action required or permitted to be taken by the holders of such series of Preferred Stock, voting separately as a series or separately as a class with one or more other such series, may be taken by consent in lieu of a meeting, without prior notice and without a vote, if a consent or consents, setting forth the action so taken, shall be signed by the holders of outstanding shares of such series having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting at which all shares of such series entitled to vote thereon were present and voted and shall be delivered to the Corporation in accordance with applicable law.

------

Section 2 <u>Special Meetings of Stockholders</u>. Subject to the special rights of one or more outstanding series of Preferred Stock, special meetings of stockholders of the Corporation for any purpose or purposes shall be called only in compliance with and subject to the requirements, limitations and procedures as may be set forth in the Bylaws.

**ARTICLE NINE** 

**FORUM SELECTION** 

Section 1 <u>Exclusive Forum</u>. Unless the Corporation consents in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware (or, if and only if the Court of Chancery of the State of Delaware lacks subject matter jurisdiction, any state court located within the State of Delaware or, if and only if all such state courts lack subject matter jurisdiction, the federal district court for the District of Delaware) and any appellate court therefrom shall, to the fullest extent permitted by law, be the sole and exclusive forum for (i) any derivative action or proceeding brought on behalf of the Corporation, (ii) any action asserting a claim of breach of a duty (including any fiduciary duty) by, or other wrongdoing by, any current or former director, officer, employee, agent or stockholder of the Corporation to the Corporation or the Corporation's stockholders, (iii) any action asserting a claim against the Corporation or any current or former director, officer, employee, agent or stockholder of the Corporation arising out of or relating to any provision of the DGCL, this Certificate of Incorporation or the Bylaws (as either may be amended, restated, modified, supplemented or waived from time to time), (iv) any action to interpret, apply, enforce or determine the validity of this Certificate of Incorporation or the Bylaws (as either may be amended, restated, modified, supplemented or waived from time to time), (v) any action asserting a claim governed by the internal affairs doctrine of the law of the State of Delaware, (vi) any action asserting an "internal corporate claim" as that term is defined in Section 115 of the DGCL or (vii) any action as to which the DGCL confers jurisdiction on the Court of Chancery of the State of Delaware. For the avoidance of doubt, this <u>Section</u> <u>1</u> of <u>Article Nine</u> shall not apply to any action or proceeding asserting a claim under the Securities Act of 1933, as amended (the "<u>Securities Act</u>") or the Securities Exchange Act of 1934, as amended.

Section 2 Unless the Corporation consents in writing to the selection of an alternative forum, to the fullest extent permitted by law, the federal district courts of the United States of America shall be the sole and exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act against the Corporation or any director, officer, employee or agent of the Corporation.

Section 3 <u>Notice</u>. To the fullest extent permitted by law, any person or entity purchasing or otherwise acquiring or holding any interest in shares of capital stock of the Corporation shall be deemed to have notice of and consented to the provisions of this <u>Article Nine</u>.

**ARTICLE TEN** 

**SEVERABILITY** 

If any provision or provisions of this Certificate of Incorporation shall be held to be invalid, illegal or unenforceable as applied to any circumstance for any reason whatsoever, the validity, legality and enforceability of such provisions in any other circumstance and of the remaining provisions of this Certificate of Incorporation (including, without limitation, each portion of any paragraph of this Certificate of Incorporation containing any such provision held to be invalid, illegal or unenforceable that is not itself held to be invalid, illegal or unenforceable) shall not, to the fullest extent permitted by law, in any way be affected or impaired thereby.

------

**ARTICLE ELEVEN** 

**AMENDMENTS** 

The Corporation hereby reserves the right at any time and from time to time to amend, alter or repeal any provision contained in this Certificate of Incorporation, and any other provisions authorized by the DGCL may be added or inserted, in the manner now or hereafter prescribed by the DGCL, and all rights, preferences and privileges of whatsoever nature conferred on stockholders, directors or any other persons whomsoever therein granted are subject to this reservation.

**ARTICLE TWELVE** 

**SHARE TRANSFER** 

Section 1 <u>Definitions</u>. For purposes of this Article Twelve, the following definitions shall apply:

"<u>Old Indivior</u>" means Indivior PLC, a company incorporated under the laws of England and Wales;

"<u>Scheme</u>" means the proposed scheme of arrangement to be effected under Part 26 of the Companies Act 2006 in the United Kingdom, pursuant to which the Corporation will become the sole shareholder of Old Indivior; and

"<u>Scheme Effective Time</u>" means the time at which the Scheme becomes effective in accordance with its terms,

Section 2 <u>Share Transfer</u>. At the Scheme Effective Time, and without any action by the Corporation or its stockholders, (i) legal title to all outstanding shares of Common Stock that were outstanding immediately prior to the Scheme Effective Time shall be automatically transferred to the Corporation and (ii) such shares of Common Stock shall be automatically retired and returned to the status of authorized but unissued shares of Common Stock.

**ARTICLE THIRTEEN** 

**INCORPORATOR** 

The name and mailing address of the incorporator are as follows:

Name: Larissa Baker <br> Address: Freshfields US LLP 3 World Trade Center 175 Greenwich Street New York, New York 10007.

------

THE UNDERSIGNED, being the incorporator hereinabove named, makes and files this Certificate of Incorporation, and does hereby declare and certify that said instrument is her act and deed and that the facts stated herein are true, and accordingly has executed this Certificate of Incorporation this 28th day of October, 2025.

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| | |
|:---|:---|
| By: | /s/ Larissa Baker |
| Name: | Larissa Baker<br>Incorporator |

---

## Exhibit 3.2

**Exhibit 3.2** 

**BYLAWS** 

**OF** 

**INDIVIOR PHARMACEUTICALS, INC.** 

**A Delaware Corporation** 

**ARTICLE I** 

**OFFICES** 

<u>Section</u> <u>1.01</u> <u>Registered Office and Registered Agent</u>. The registered office and registered agent of Indivior Pharmaceuticals, Inc. (the "<u>Corporation</u>") is designated in the Certificate of Incorporation of the Corporation (as amended, restated, modified and/or supplemented from time to time, the "<u>Certificate of Incorporation</u>").

<u>Section</u> <u>1.02</u> <u>Other Offices</u>. The Corporation may have other offices, both inside and outside the State of Delaware, as the board of directors of the Corporation (the "<u>Board</u>") may from time to time determine or as the business of the Corporation may require.

**ARTICLE II** 

**MEETINGS OF STOCKHOLDERS** 

<u>Section</u> <u>2.01</u> <u>Place of Meetings</u>. All meetings of the stockholders shall be held at such place, if any, either inside or outside the State of Delaware, or in whole or in part by means of remote communication as authorized under the General Corporation Law of the State of Delaware ("<u>DGCL</u>"), as shall be designated from time to time by resolution of the Board and stated in the notice of meeting. If no designation is so made, the place of meeting shall be the principal executive offices of the Corporation.

<u>Section</u> <u>2.02</u> <u>Annual Meeting</u>. The annual meeting of the stockholders for the election of directors and for the transaction of such other business as may properly come before the meeting in accordance with these bylaws (as amended, restated, modified and/or supplemented from time to time, the "<u>Bylaws</u>") shall be held at such date, time and place, if any, as shall be determined by the Board and stated in the notice of the meeting. The Board may postpone, reschedule or cancel any previously scheduled annual meeting of stockholders.

<u>Section</u> <u>2.03</u> <u>Special Meetings</u>.<u> </u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Purpose</u>. Special meetings of stockholders for any purpose or purposes shall be called only:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) by the Chair of the Board (as defined below) or the Chief Executive Officer (as defined below) of the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) by the Corporate Secretary (as defined below) of the Corporation, within 10 calendar days after receipt of a request in writing or by electronic transmission of a majority of the members of the Board then in office; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) by the Corporate Secretary of the Corporation, in accordance with <u>Section</u> <u>2.03(c)</u> and <u>Section</u> <u>2.05</u> of these Bylaws, after receipt of one or more valid written demands to call a special meeting of the stockholders in accordance with, and subject to, this <u>Section</u> <u>2.03</u> from stockholders of record who collectively Own (as defined below), in the aggregate, at least 20% of the voting power of the outstanding shares of the Corporation (the "<u>Requisite Percentage</u>") then entitled to vote on the matter or matters to be brought before the proposed special meeting (any meeting called pursuant to this clause (iii), a "<u>Stockholder Requested Special Meeting</u>") (each such stockholder of record, a "<u>Requesting Stockholder</u>").

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Notice</u>. A request to the Corporate Secretary for a Stockholder Requested Special Meeting (a "<u>Special Meeting Request</u>") shall be delivered to the Corporate Secretary at the Corporation's principal executive offices and signed and dated by each of the Requesting Stockholders entitled to vote on the matter or matters proposed to be brought before the proposed special meeting that collectively Own the Requisite Percentage, or by one or more Qualified Representatives (as defined below) of such Requesting Stockholders, requesting the Stockholder Requested Special Meeting and shall set forth:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a brief description of each matter of business desired to be brought before the Stockholder Requested Special Meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the reasons for conducting such business at the Stockholder Requested Special Meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the text of any proposal or business to be considered at the Stockholder Requested Special Meeting (including the text of any resolutions proposed to be considered and, in the event that such business includes a proposal to amend these Bylaws, the language of the proposed amendment);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the information required by <u>Section</u> <u>2.12(b)</u> of these Bylaws (for stockholder nominations), <u>Section</u> <u>2.12(c)</u> of these Bylaws (for all other stockholder proposals), as applicable, <u>Section</u> <u>2.12(d)</u> and <u>Section</u> <u>2.12(f)</u> of these Bylaws, which in each case, for the avoidance of doubt, shall be further updated and supplemented in compliance with <u>Section</u> <u>2.13(a)</u> of these Bylaws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) evidence reasonably satisfactory to the Corporation that the Requesting Stockholders collectively Own the Requisite Percentage as of the date on which the Special Meeting Request is delivered to the Corporate Secretary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) as to each Requesting Stockholder, a signed affidavit by each such person (A) stating the number of shares of the Corporation then entitled to vote on the matter or matters to be brought before the Stockholder Requested Special Meeting that it Owns as of the date such Special Meeting Request and (B) agreeing to (1) continue to Own at least such number of shares of the Corporation then entitled to vote on the matter or matters proposed to be brought before the Stockholder Requested Special Meeting through the date of the Stockholder Requested Special Meeting and (2) update and supplement such affidavit and the information provided pursuant to <u>Sections 2.03(b)(iv)</u> and <u>2.03(b)(v)</u> of these Bylaws; *provided*, that in the event of any decrease in the number of shares of the Corporation entitled to vote on the matter or matters proposed to be brought before the Stockholder Requested Special Meeting Owned by such person at any time before the Stockholder Requested Special Meeting, such person's Special Meeting Request shall be deemed to have been revoked with respect to such shares of the Corporation comprising such reduction and shall not be counted towards the calculation of the Requisite Percentage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Time and Date</u>. A Stockholder Requested Special Meeting shall be held at such date and time as may be fixed by the Board; *provided*, *however*, that the date of any such Stockholder Requested Special Meeting (the "<u>Stockholder Requested Special Meeting Date</u>") shall be not more than 90 days after a valid Special Meeting Request is received by the Corporate Secretary (or, in the event of any litigation related to the validity of the Special Meeting Request, 90 days after the final, non-appealable resolution of such litigation). At any Stockholder Requested Special Meeting, the chair of the meeting, or in advance of any such meeting, the Board, shall determine whether all requirements set forth in this <u>Section</u> <u>2.03</u> have been satisfied and, if not, such Stockholder Requested Special Meeting shall not be held. Notwithstanding the foregoing, a Stockholder Requested Special Meeting shall not be held if:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Special Meeting Request does not comply with this <u>Section</u> <u>2.03</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Board has called or calls for an annual or special meeting of the stockholders to be held within 90 days after the Corporate Secretary receives the Special Meeting Request and the Board determines in good faith that the business of such meeting includes (among any other matters properly brought before the meeting) the business specified in the Special Meeting Request;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the stated business to be brought before the Stockholder Requested Special Meeting is not a proper subject for stockholder action under applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) an identical or substantially similar item (a "<u>Similar Item</u>") was presented at any meeting of stockholders held within 90 days prior to the receipt by the Corporate Secretary of the Special Meeting Request (and, for purposes of this <u>Section</u> <u>2.03(c)(iv)</u>, the election of directors shall be deemed a Similar Item with respect to all items of business involving the election or removal of directors);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the Special Meeting Request was made in a manner that involved a violation of Regulation 14A under the Securities Exchange Act of 1934, as amended (including the rules and regulations promulgated thereunder, the "<u>Exchange Act</u>"); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) the Special Meeting Request is delivered during the period commencing 90 days prior to the first anniversary of the date of the immediately preceding annual meeting of stockholders and ending on the date of the next annual meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Revocation</u>. A Requesting Stockholder may revoke a Special Meeting Request at any time by written revocation delivered to the Corporate Secretary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Cancellation</u>. The Board, in its discretion, may cancel a Stockholder Requested Special Meeting if, at any time, the Requesting Stockholders own less than the Requisite Percentage, whether as a result of a revocation pursuant to <u>Section</u> <u>2.03(d)</u> of these Bylaws, a deemed revocation pursuant to <u>Section</u> <u>2.03(b)(vi)</u> of these Bylaws or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Definitions</u>. For the purposes of this Section 2.03, a stockholder or beneficial owner shall be deemed to "Own" only those outstanding shares of the Corporation as to which such person possesses both (i) the full voting and investment rights pertaining to such shares and (ii) the full economic interest in (including the opportunity for profit and risk of loss on) such shares; *provided*, that the number of shares calculated in accordance with clauses (i) and (ii) shall not include any shares (A) sold by such person or any of its Affiliates in any transaction that has not been settled or closed, (B) borrowed by such person or any of its Affiliates for any purposes, (C) purchased by such person or any of its Affiliates pursuant to an agreement to resell or (D) subject to any option, warrant, forward contract, swap, contract of sale or other derivative or similar agreement entered into by such person or any of its Affiliates, whether any such instrument or agreement is to be settled with shares or with cash based on the notional amount or value of outstanding shares of the Corporation, in any such case which instrument or agreement has, or is intended to have, or if exercised would have the purpose or effect of (1) reducing in any manner, to any extent or at any time in the future, such person's or Affiliates' full right to vote or direct the voting of any such shares, and/or (2) hedging, offsetting or altering to any degree any gain or loss arising from the full economic ownership of such shares by such person or Affiliate. A stockholder or beneficial owner shall "Own" shares held in the name of a nominee or other intermediary so long as the person retains the right to instruct how the shares are voted with respect to the election of directors and possesses the full economic interest in the shares. A person shall be deemed to continue to Own shares during any period in which the person has loaned such shares provided that the person has the power to recall such loaned shares on five Business Days' (or less) notice, and has delegated any voting power only by means of a proxy, power of attorney or other instrument or arrangement which is revocable at any time by the person. The determination of the extent to which a stockholder or beneficial owner "Owns" any shares of the Corporation for these purposes shall be made by the Board, which determination shall be conclusive and binding on the Corporation and the stockholders. The terms "Owned," "Ownership" and other variations of the word "Own" shall have a corresponding meaning. As used in these Bylaws, the terms "Affiliate(s)" and "Associate(s)" shall have the meanings attributed to such terms in Rule 12b-2 under the Exchange Act.

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<u>Section</u> <u>2.04</u> <u>Adjournments</u>. Any meeting of the stockholders, annual or special, may be adjourned from time to time to reconvene at the same or some other place, if any, and, except as provided in this <u>Section</u> <u>2.04</u>, notice need not be given of any such adjourned meeting if the time, place, if any, thereof and the means of remote communication, if any, are (i) announced at the meeting at which the adjournment is taken, (ii) displayed, during the time scheduled for the meeting, on the same electronic network used to enable stockholders and proxy holders to participate in the meeting by means of remote communication or (iii) set forth in the notice of meeting. At the adjourned meeting, the Corporation may transact any business that might have been transacted at the original meeting. If the adjournment is for more than 30 days, a notice of the adjourned meeting shall be given to each stockholder of record entitled to vote at the meeting. If after the adjournment a new record date is fixed for stockholders entitled to vote at the adjourned meeting, the Board shall fix a new record date for notice of the adjourned meeting and shall give notice of the adjourned meeting to each stockholder of record entitled to vote at the adjourned meeting as of the record date fixed for notice of the adjourned meeting.

<u>Section</u> <u>2.05</u> <u>Notice</u>. Notice of the place (if any), date, hour, the record date for determining the stockholders entitled to vote at the meeting (if such date is different from the record date for stockholders entitled to notice of the meeting), and means of remote communication, if any, of every meeting of stockholders shall be given by the Corporation not less than 10 days nor more than 60 days before the meeting (unless a different time is specified by law, the Certificate of Incorporation or these Bylaws) to every stockholder entitled to vote at the meeting as of the record date for determining the stockholders entitled to notice of the meeting. Notices of special meetings shall also specify the purpose or purposes for which the meeting has been called. Except as otherwise provided herein or permitted by applicable law, notice to stockholders shall be in writing and delivered personally or mailed to the stockholders at their address appearing on the books of the Corporation. Without limiting the manner by which notice otherwise may be given effectively to stockholders, notice of meetings may be given to stockholders by means of electronic transmission in accordance with applicable law. Notice of any meeting need not be given to any stockholder who shall, either before or after the meeting, submit a waiver of notice or who shall attend such meeting, except when the stockholder attends for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business because the meeting is not lawfully called or convened. Any stockholder so waiving notice of the meeting shall be bound by the proceedings of the meeting in all respects as if due notice thereof had been given.

<u>Section</u> <u>2.06</u> <u>Stockholders List</u>. The Corporation shall prepare a complete list of the stockholders entitled to vote at any meeting of stockholders (*provided*, however, if the record date for determining the stockholders entitled to vote is less than 10 days before the date of the meeting, the list shall reflect the stockholders entitled to vote as of the tenth day before the meeting date), arranged in alphabetical order, and showing the address of each stockholder and the number of shares of the Corporation registered in the name of each stockholder not later than the tenth day before each meeting of the stockholders. Such list shall be open to the examination of any stockholder, for any purpose germane to the meeting for a period of 10 days ending on the day before the meeting date: (a) on a reasonably accessible electronic network, provided that the information required to gain access to such list was provided with the notice of the meeting; or (b) during ordinary business hours, at the principal executive offices of the Corporation. In the event that the Corporation determines to make the list available on an electronic network, the Corporation may take reasonable steps to ensure that such information is available only to stockholders of the Corporation. Except as provided by applicable law, the stock ledger of the Corporation shall be the only evidence as to who are the stockholders entitled to examine the stock ledger and the list of stockholders or to vote in person or by proxy at any meeting of stockholders.

<u>Section</u> <u>2.07</u> <u>Quorum</u>. Unless otherwise required by law, the Certificate of Incorporation or these Bylaws, at each meeting of the stockholders, a majority in voting power of the outstanding shares of the Corporation entitled to vote at the meeting, present in person or represented by proxy, shall constitute a quorum. The chair of the meeting shall have the power to recess, reschedule, postpone and/or adjourn meetings of stockholders for any (or no) reason from time to time and, if a quorum shall not be present or represented at any meeting of the stockholders, the stockholders present in person or represented by proxy shall also have the power, by the affirmative vote of a majority in voting power of the outstanding shares of the Corporation present in person or represented by proxy and entitled to vote at the meeting, to adjourn the meeting from time to time, in the manner provided in <u>Section</u> <u>2.04</u> of these Bylaws, until a quorum shall be present or represented. A quorum, once established, shall not be broken by the subsequent withdrawal of enough votes to leave less than a quorum. At any such adjourned meeting reconvened at which there is a quorum, any business may be transacted that might have been transacted at the meeting originally called.

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<u>Section</u> <u>2.08</u> <u>Organization</u>. The Board may adopt by resolution such rules and regulations for the conduct of the meeting of the stockholders as it shall deem appropriate. At every meeting of the stockholders, the Chair of the Board, or such other director or officer of the Corporation designated by the Board, shall act as chair of, and preside at, the meeting. The Corporate Secretary or, in the Corporate Secretary's absence or inability to act, the person whom the chair of the meeting shall appoint secretary of the meeting, shall act as secretary of the meeting and keep the minutes thereof. Except to the extent inconsistent with such rules and regulations as adopted by the Board, the chair of any meeting of the stockholders shall have the right and authority to prescribe such rules, regulations, and procedures and to do all such acts as, in the judgment of such chair, are appropriate for the proper conduct of the meeting. Such rules, regulations or procedures, whether adopted by the Board or prescribed by the chair of the meeting, may include, without limitation, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the establishment of an agenda or order of business for the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the determination of when the polls shall open and close for any given matter to be voted on at the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) rules and procedures for maintaining order at the meeting and the safety of those present;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) limitations on attendance at or participation in the meeting to stockholders of record of the corporation, their duly authorized and constituted proxies, or such other persons as the chair of the meeting shall determine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) restrictions on entry to the meeting after the time fixed for the commencement thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) limitations on the time allotted to questions or comments by participants; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) restrictions on the use of cell phones, audio or video recording devices and other devices at the meeting.

The chair of the meeting's rulings on procedural matters shall be final.

<u>Section</u> <u>2.09</u> <u>Voting; Proxies</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>General</u>. Unless otherwise required by law or provided in the Certificate of Incorporation, each stockholder shall be entitled to one vote, in person or by proxy, for each share of the Corporation held by such stockholder. Voting at meetings of stockholders need not be by written ballot.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Election of Directors</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Unless otherwise required by law, the Certificate of Incorporation or these Bylaws, each director nominee shall be elected by a majority of the votes cast with respect to such director nominee's election at any meeting for the election of directors at which a quorum is present; *provided*, that director nominees shall be elected by a plurality of the votes of the shares present in person or represented by proxy at the meeting and entitled to vote on the election of directors in a Contested Election (as defined below). For purposes of these Bylaws, a "<u>majority of the votes cast</u>" means that the number of shares voted "for" a director nominee must exceed the number of shares voted "against" that director nominee, and "abstentions" and "broker non-votes" shall not be counted as votes cast with respect to that director nominee's election, and a "<u>Contested Election</u>" means an election of directors at a meeting of stockholders at which a quorum is present where (x) the Corporate Secretary receives notice that one or more stockholders have proposed to nominate one or more persons for election or re-election to the Board, which notice purports to be in compliance with the advance notice requirements for stockholder nominations set forth in these Bylaws, irrespective of whether the Board at any time determines that any such notice is not in compliance with such requirements, and (y) such nomination or nominations have not been formally and irrevocably withdrawn by such stockholder or stockholders on or prior to the date that is 14 days in advance of the date the Corporation files its definitive proxy statement (regardless of whether or not thereafter revised or supplemented) with the U.S. Securities and Exchange Commission.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Other than in a Contested Election, if a director nominee who is an incumbent director is not elected and no successor has been elected at such meeting, the director nominee shall offer to tender such person's resignation to the Board. The Nomination Committee shall make a recommendation to the Board as to whether to accept or reject any tendered resignation, or whether other action should be taken. The Board shall act on the tendered resignation, taking into account the Nomination Committee's recommendation, and publicly disclose its decision regarding the tendered resignation and the rationale behind the decision within 90 days from the date of the certification of the election results. The Nomination Committee in making its recommendation, and the Board in making its decision, may each consider any factors or other information that it considers appropriate and relevant. The director nominee who tenders a resignation shall not participate in the recommendation of the Nomination Committee or the decision of the Board with respect to such person's resignation. However, if each member of the Nomination Committee failed to receive a majority of the votes cast at the same election, then the independent directors who did receive a majority of the votes cast shall appoint a committee amongst themselves to consider the resignation offers and recommend to the Board whether to accept them. However, if the only directors who received a majority of the votes cast in the same election constitute three or fewer directors, all directors may participate in the action regarding whether to accept the resignation offers. If such incumbent director's resignation is not accepted by the Board, such director shall continue to serve until the next annual meeting and until such person's successor is duly elected, or such person's earlier resignation or removal. If a director's resignation is accepted by the Board pursuant to this Bylaw, then the Board, in its sole discretion, may fill any resulting vacancy or may decrease the size of the Board pursuant to the provisions of <u>Section</u> <u>3.17</u> of these Bylaws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Other Matters</u>. Unless a different or minimum vote is required or provided for such matter by law, applicable stock exchange rule or other applicable rule, the Certificate of Incorporation or these Bylaws, in which case such different or minimum vote shall be the required vote for such matter, any matter, other than the election of directors, brought before any meeting of stockholders at which a quorum is present shall be decided by the affirmative vote of the majority in voting power of outstanding shares of the Corporation present in person or represented by proxy at the meeting and entitled to vote on the matter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Proxies</u>. Each stockholder entitled to vote at a meeting of stockholders may authorize another person or persons to act for such stockholder by proxy, but no such proxy shall be voted or acted upon after three years from its date, unless the proxy provides for a longer period. Such authorization must be in writing and executed by the stockholder or his or her authorized officer, director, employee or agent. To the extent permitted by law, a stockholder may authorize another person or persons to act for him, her or it as proxy by transmitting or authorizing the transmission of an electronic transmission to the person who will be the holder of the proxy or to a proxy solicitation firm, proxy support service organization or like agent duly authorized by the person who will be the holder of the proxy to receive such transmission; *provided*, that the electronic transmission either sets forth or is submitted with information from which it can be determined that the electronic transmission was authorized by the stockholder. A copy, facsimile transmission or other reliable reproduction of a writing or transmission authorized by this <u>Section</u> <u>2.09(d)</u> may be substituted for or used in lieu of the original writing or electronic transmission for any and all purposes for which the original writing or transmission could be used; *provided*, that such copy, facsimile transmission or other reproduction shall be a complete reproduction of the entire original writing or transmission. A proxy shall be irrevocable if it states that it is irrevocable and if, and only as long as, it is coupled with an interest sufficient in law to support an irrevocable power. A stockholder may revoke any proxy that is not irrevocable by attending the meeting and voting in person or by delivering to the Corporate Secretary a revocation of the proxy or a new proxy bearing a later date.

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<u>Section</u> <u>2.10</u><u> </u><u>Inspectors at Meetings of Stockholders</u>. In advance of any meeting of the stockholders, the Corporation shall appoint one or more inspectors, who may be employees of the Corporation, to act at the meeting or any adjournment thereof and make a written report thereof. The Corporation may designate one or more persons as alternate inspectors to replace any inspector who fails to act. If no inspector or alternate is able to act at a meeting, the chair of the meeting shall appoint one or more inspectors to act at the meeting. Each inspector, before entering upon the discharge of his or her duties, shall take and sign an oath faithfully to execute the duties of inspector with strict impartiality and according to the best of his or her ability. The inspector or inspectors may appoint or retain other persons or entities to assist the inspector or inspectors in the performance of their duties. In determining the validity and counting of proxies and ballots cast at any meeting of stockholders, the inspector or inspectors may consider such information as is permitted by applicable law. No person who is a candidate for office at an election may serve as an inspector at such election. When executing the duties of inspector, the inspector or inspectors shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) ascertain the number of shares outstanding and the voting power of each;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) determine the shares represented at the meeting and the validity of proxies and ballots;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) count all votes and ballots;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) determine and retain for a reasonable period a record of the disposition of any challenges made to any determination by the inspectors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) certify their determination of the number of shares represented at the meeting and their count of all votes and ballots.

<u>Section</u> <u>2.11</u><u> </u><u>Fixing the Record Date</u>.<u> </u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In order that the Corporation may determine the stockholders entitled to notice of any meeting of stockholders or any adjournment thereof, the Board may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted by the Board, and which record date shall not be more than 60 nor less than 10 days before the date of such meeting. If the Board so fixes a date, such date shall also be the record date for determining the stockholders entitled to vote at such meeting unless the Board determines, at the time it fixes such record date, that a later date on or before the date of the meeting shall be the date for making such determination. If no record date is fixed by the Board, the record date for determining stockholders entitled to notice of or to vote at a meeting of stockholders shall be at the close of business on the day next preceding the day on which notice is given or, if notice is waived, at the close of business on the day next preceding the day on which the meeting is held. A determination of stockholders of record entitled to notice of or to vote at a meeting of stockholders shall apply to any adjournment of the meeting; *provided*, *however*, that the Board may fix a new record date for the determination of stockholders entitled to notice of or to vote at the adjourned meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In order that the Corporation may determine the stockholders entitled to receive payment of any dividend or other distribution or allotment of any rights or the stockholders entitled to exercise any rights in respect of any change, conversion or exchange of stock, or for the purpose of any other lawful action, the Board may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted, and which record date shall be not more than 60 days prior to such action. If no record date is fixed, the record date for determining stockholders for any such purpose shall be at the close of business on the day on which the Board adopts the resolution relating thereto.

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<u>Section</u> <u>2.12</u> <u>Advance Notice of Stockholder Nominations and Proposals</u>.<u> </u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Annual Meetings</u>. At a meeting of the stockholders, only such nominations of persons for the election of directors and such other business shall be conducted as shall have been properly brought before the meeting. The number of nominees a Proposing Stockholder (as defined below) may nominate on its own behalf (or in the case of one or more Proposing Stockholders giving the notice on behalf of a beneficial owner, the number of nominees such Proposing Stockholders may collectively nominate for election on behalf of such beneficial owner) for election at the annual meeting shall not exceed the number of directors to be elected at such annual meeting. To be properly brought before an annual meeting, nominations or such other business must be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) specified in the notice of meeting (or any supplement thereto) given by or at the direction of the Board or any duly authorized committee thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) otherwise properly brought before the meeting by or at the direction of the Board or any duly authorized committee thereof; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) otherwise properly brought before an annual meeting by a stockholder who is a stockholder of record of the Corporation at the time the notice provided for in this <u>Section</u> <u>2.12</u> is delivered to the Corporate Secretary, on the record date for the determination of stockholders entitled to notice of and to vote at such meeting and at the time of such meeting, who is entitled to vote at the meeting, and who complies with the procedures set forth in this <u>Section</u> <u>2.12</u> and <u>Section</u> <u>2.13(a)</u> of these Bylaws.

Solely for the purposes of <u>Section</u> <u>2.03</u>, <u>Section</u> <u>2.12</u> and <u>Section</u> <u>2.13</u> of these Bylaws: (a) "<u>Business Day</u>" means any day other than Saturday or Sunday or a day on which commercial banks are authorized or required by law or executive order to be closed in New York, New York; (b) the "<u>close of business</u>" means 5:00 p.m. local time at the Corporation's principal executive offices, and if an applicable deadline falls on the "close of business" on a day that is not a Business Day, then the applicable deadline shall be deemed to be the close of business on the immediately preceding Business Day; (c) "<u>delivered</u>" shall mean and require both (i) hand delivery, overnight courier service or by United States certified or registered mail, return receipt requested, in each case to the Corporate Secretary at the principal executive offices of the Corporation, and (ii) email or electronic transmission to the Corporate Secretary; (d) "<u>Holder(s)</u>" means a Proposing Stockholder and/or the beneficial owner, if any, on whose behalf any business (including, but not limited to, director nominations) is proposed to be brought at any meeting of the stockholders of the Corporation; (e) "<u>Proposing Stockholder</u>" means a stockholder or stockholders of record intending to propose any business

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(including, but not limited to, director nominations) at any meeting of the stockholders of the Corporation, including, but not limited to, any Requesting Stockholder; (f) "<u>Public Disclosure</u>" shall mean a disclosure made in a press release reported by the Dow Jones News Services, The Associated Press or a comparable national news service or in a document filed by the Corporation with the U.S. Securities Exchange Commission pursuant to Section 13, 14 or 15(d) of the Exchange Act; (g) "<u>Qualified Representative</u>" of a stockholder means a duly authorized officer, director, employee or agent of such stockholder or a person authorized by a writing executed in compliance with <u>Section</u> <u>2.09(d)</u> of these Bylaws and delivered to the Corporation prior to the presentation of such matters at the meeting; (h) "<u>Short Interest</u>" means any agreement, arrangement, understanding, relationship or otherwise, including any repurchase or similar so-called "stock borrowing" agreement or arrangement, involving any Holder or any Stockholder Associated Person, on the one hand, and any person, on the other hand, directly or indirectly, the purpose or effect of which is to mitigate loss to, reduce the economic risk (of ownership or otherwise) of any class or series of the shares of the Corporation by, manage the risk of share price changes for, or increase or decrease the voting power of, such Holder or any Stockholder Associated Person with respect to any class or series of the shares or other securities of the Corporation, or which provides, directly or indirectly, the opportunity to profit or share in any profit derived from any decrease in the price or value of any class or series of the shares or other securities of the Corporation; and (i) "<u>Stockholder Associated Person</u>" of any Holder means (y) any Affiliate or Associate of such Holder, and (z) any member of the immediate family of such Holder sharing the same residence as such Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Stockholder Nominations</u>. For the nomination of any person or persons for election to the Board pursuant to <u>Section</u> <u>2.12(a)(iii)</u> or <u>Section</u> <u>2.12(e)</u> of these Bylaws, to be in proper form, a Proposing Stockholder's notice to the Corporate Secretary must set forth or include, as to each individual, if any, whom the Proposing Stockholder proposes to nominate for election or reelection to the Board:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the name, age, business address and residential address of such proposed nominee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a complete biography and statement of such person's qualifications, including the principal occupation or employment of such proposed nominee (at present and for the past five years);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Specified Information of such proposed nominee and any Affiliate or Associate of such proposed nominee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a complete and accurate description of all agreements, arrangements and understandings between each Holder and any Stockholder Associated Person, on the one hand, and such proposed nominee, on the other hand (at present and for the past three years), including, without limitation, a complete and accurate description of all direct and indirect compensation and other monetary agreements, arrangements and understandings between such proposed nominee and such parties (including all biographical, related party transaction and other information that would be required to be disclosed pursuant to the federal and state securities laws, including Item 404 promulgated under Regulation S-K under the Securities Act of 1933, as amended (or any successor provision), if any Holder or any Stockholder Associated Person were the "registrant" for purposes of such rule and such proposed nominee were a director or executive officer of such registrant);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a complete and accurate, signed written questionnaire with respect to the background and qualification of such proposed nominee (which questionnaire shall be provided by the Corporate Secretary upon written request of any stockholder of record identified by name within five Business Days of such written request) and a written statement and agreement (in the form provided by the Corporate Secretary upon written request of any stockholder of record identified by name within five Business Days of such written request) executed by such proposed nominee acknowledging that such person:

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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;(A) consents to being named in any proxy statement as a nominee and to serving as a director if elected,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) intends to serve as a director for the full term for which such person is standing for election, 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;(C) makes the following representations: (1) that such person, in such person's individual capacity and on behalf of any person or entity on whose behalf the nomination is being made, would be in compliance, if elected as a director of the Corporation, and will comply with all applicable rules of the exchanges upon which the securities of the Corporation are listed, all applicable publicly disclosed corporate governance, conflict of interest, confidentiality and stock ownership and trading policies and guidelines of the Corporation and the requirements of <u>Section</u> <u>2.09(b)(ii)</u> of these Bylaws, and (2) that the proposed nominee is not and will not become a party to any agreement, arrangement or understanding with, and has not given any commitment or assurance to, any person or entity as to how such person, if elected as a director of the Corporation, will act or vote on any issue or question (a "<u>Voting Commitment</u>") that has not been disclosed to the Corporation or any Voting Commitment that could limit or interfere with such person's ability to comply, if elected as a director of the Corporation, with such person's fiduciary duties under applicable law, and (3) that the proposed nominee is not and will not become a party to any agreement, arrangement or understanding with any person or entity other than the Corporation with respect to any direct or indirect compensation, reimbursement or indemnification ("<u>Compensation Arrangement</u>") that has not been disclosed to the Corporation in connection with such person's nomination for director or service as a director;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) all other information relating to such proposed nominee that would be required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for election of directors in a contested election pursuant to Section 14 of the Exchange Act and the rules and regulations promulgated thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the first date of contact between any Holder and/or Stockholder Associated Person, on the one hand, and such proposed nominee, on the other hand, with respect to the Corporation (including the names of the individuals involved in such contact); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) the amount and nature of any direct or indirect economic or financial interest, if any, of such proposed nominee, or of any immediate family member of such proposed nominee sharing the same residence as such proposed nominee, in any funds or vehicles managed by, under common management with, or affiliated with any Holder or Stockholder Associated Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Other Stockholder Proposals</u>. For all business other than director nominations, to be in proper form, a Proposing Stockholder's notice to the Corporate Secretary must set forth as to each matter the Proposing Stockholder proposes to bring before the meeting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a brief description of the business desired to be brought before the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the reasons for conducting such business at the meeting;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the text of any proposal or business (including the text of any resolutions proposed for consideration and in the event that such business includes a proposal to amend these Bylaws, the language of the proposed amendment);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) any material interest of such Holder or Stockholder Associated Person in such business, including any anticipated benefit therefrom to such Holder or Stockholder Associated Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a description of all agreements, arrangements and understandings between each Holder and any Stockholder Associated Person and any other person or persons (including their names) in connection with the proposal of such business by such stockholder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) any other information relating to such stockholder and beneficial owner, if any, on whose behalf the proposal is being made, required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for the proposal and pursuant to and in accordance with Section 14(a) of the Exchange Act and the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Information about Holders</u>. In addition, for all business (including director nominations), to be in proper form, a Proposing Stockholder's notice to the Corporate Secretary must set forth or include, as to each of the Holders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the name and address of the Proposing Stockholder as they appear on the Corporation's books and of any other Holder and any Stockholder Associated Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a description of any agreement, arrangement or understanding (whether written or oral) with respect to the applicable nomination and/or proposal between or among the Proposing Stockholder or the beneficial owner, if any, on whose behalf the applicable nomination and/or proposal is being made and any of their Affiliates or Associates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the class and number of shares of the Corporation which are directly or indirectly held of record or beneficially owned by each Holder and any Stockholder Associated Person (beneficially and of record); *provided*, that for purposes of this <u>Section</u> <u>2.12</u>, any such person shall in all events be deemed to beneficially own any shares of the Corporation as to which such person has a right to acquire beneficial ownership at any time in the future (whether such right is exercisable immediately or only after the passage of time or the fulfillment of a condition or both);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a description of any short position, profits interest, option, warrant, convertible security, stock appreciation right or similar right with an exercise or conversion privilege or a settlement payment or mechanism at a price related to any class of shares of the Corporation or with a value derived in whole or in part from the value of any class of shares of the Corporation, or any derivative or synthetic arrangement having the characteristics of a long position in any class of shares of the Corporation, or any contract, derivative, swap or other transaction or series of transactions designed to produce economic benefits and risks that correspond substantially to the ownership of any class of shares of the Corporation, including due to the fact that the value of such contract, derivative, swap or other transaction or series of transactions is determined by reference to the price, value or volatility of any class of shares of the Corporation, whether or not such instrument, contract or right shall be subject to settlement in the underlying class of shares of the Corporation, through the delivery of cash or other property, or otherwise, and without regard to whether the Holder and any Stockholder Associated Person may have entered into transactions that hedge or mitigate the economic effect of such instrument, contract or right, or any other direct or indirect opportunity to profit or share in any profit derived from any increase or decrease in the value of shares of the Corporation (any of the foregoing, a "<u>Derivative Instrument</u>") directly or indirectly owned or held, including beneficially, by each Holder and any Stockholder Associated Person, and any Short Interest held by each Holder or any Stockholder Associated Person within the last 12 months in any class or series of the shares or other securities of the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) a description of any proxy, contract, arrangement, understanding or relationship pursuant to which each Holder and any Stockholder Associated Person has any right to vote or has granted a right to vote any shares of stock or any other security of the Corporation;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) any rights to dividends or payments in lieu of dividends on the shares of the Corporation owned beneficially by each Holder or any Stockholder Associated Person that are separated or separable from the underlying shares of stock or other security of the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) any proportionate interest in shares of stock or other securities of the Corporation or Derivative Instruments held, directly or indirectly, by a general or limited partnership or limited liability company or other entity in which any Holder or any Stockholder Associated Person is a general partner or directly or indirectly beneficially owns an interest in a general partner, is the manager, managing member or directly or indirectly beneficially owns an interest in the manager or managing member of a limited liability company or other entity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) any direct or indirect legal, economic or financial interest (including Short Interest) of each Holder and each Stockholder Associated Person, if any, in the outcome of any vote to be taken at any meeting of stockholders of the Corporation with respect to any matter that is related, directly or indirectly, to any nomination or business proposed by any Holder under these Bylaws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) any material pending or threatened action, suit or proceeding (whether civil, criminal, investigative, administrative or otherwise) in which any Holder or any Stockholder Associated Person is, or is reasonably expected to be made, a party or material participant involving the Corporation (subclauses (iii)–(ix) of this <u>Section</u> <u>2.12(d)</u> shall be referred to as the "<u>Specified Information</u>");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) a certification that each Holder and any Stockholder Associated Person, has complied with all applicable federal, state and other legal requirements in connection with its acquisition of shares or other securities of the Corporation and such person's acts or omissions as a stockholder of the Corporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) a representation that the Proposing Stockholder is a holder of record of shares of the Corporation entitled to vote at the meeting, will continue to be a stockholder of record of the Corporation entitled to vote at such meeting through the date of such meeting and intends to appear in person or by proxy at the meeting to nominate the person or persons and/or propose the business specified in the notice;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii) a representation as to whether the Proposing Stockholder intends or is part of a group that intends to (x) deliver a proxy statement and/or form of proxy to holders of at least the percentage of the Corporation's shares required to elect such proposed nominees and/or approve or adopt any other business proposed to be brought and/or (y) otherwise to solicit proxies from stockholders in support of such nominations or other business proposed to be brought;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii) the information and statement required by Rule 14a-19(b) of the Exchange Act (or any successor provision);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv) the names and addresses of other stockholders (including beneficial owners) known by any Holder or Stockholder Associated Person to provide financial or otherwise material support with respect to such proposals and/or nominations (it being understood that delivery of a revocable proxy with respect to such proposal or nomination shall not in itself require disclosure under this clause (xiv)), and to the extent known the class or series and number of all shares of the Corporation owned beneficially or of record by each such other stockholder or other beneficial owner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) all information that would be required to be set forth in a Schedule 13D filed pursuant to Rule 13d-1(a) or an amendment pursuant to Rule 13d-2(a) if such a statement were required to be filed under the Exchange Act and the rules and regulations promulgated thereunder by each Holder and each Stockholder Associated Person, if any;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) any other information relating to any Holder or any Stockholder Associated Person that would be required to be disclosed in a proxy statement and form of proxy or other filings required to be made in connection with solicitations of proxies for, as applicable, the business proposal and/or for the election of directors in a contested election pursuant to Section 14 of the Exchange Act and the rules and regulations promulgated thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii) a representation by the Proposing Stockholder as to the accuracy of the information set forth in the notice; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xviii) a representation by the Proposing Stockholder confirming its intention to notify the Corporation of any defects in, and otherwise update and supplement, the information provided to the Corporation pursuant to this <u>Section</u> <u>2.12</u> as required by <u>Section</u> <u>2.13(a)</u> of these Bylaws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Special Meetings of Stockholders</u>. Only such business shall be conducted at a special meeting of stockholders as shall have been brought before the meeting pursuant to the Corporation's notice of meeting. Business transacted at any special meeting of stockholders shall be limited to the purpose(s) stated by the persons(s) calling the special meeting or, in the case of a Stockholder Requested Special Meeting, the purpose(s) stated in the Special Meeting Request(s); *provided*, *however*, that nothing herein shall prohibit the Board from submitting matters to the stockholders at any special meeting. In the event that a special meeting of stockholders is called for the purpose of electing one or more directors to the Board, nominations of persons for election to the Board may be made at such special meeting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) by or at the direction of the Board or any committee thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) by the Requesting Stockholder who submitted a valid Special Meeting Request relating to such meeting in accordance and in compliance with <u>Section</u> <u>2.03</u> of these Bylaws, but, for the avoidance of doubt, solely to the extent specified; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) by any stockholder of the Corporation (other than any Requesting Stockholder who submitted a valid Special Meeting Request relating to such meeting in accordance and in compliance with <u>Section</u> <u>2.03</u> of these Bylaws that included the election of directors in such valid Special Meeting Request) who (x) is a stockholder of record (I) at the time the notice provided for in this <u>Section</u> <u>2.12(e)</u> is delivered to the Corporate Secretary, (II) on the record date for the determination of stockholders entitled to notice of and to vote at such meeting and (III) at the time of such meeting, (y) is entitled to vote at the meeting and (z) delivers a proper and timely notice that complies with the requirements of this <u>Section</u> <u>2.12</u> and <u>Section</u> <u>2.13(a)</u> of these Bylaws to the Corporate Secretary at its principal executive offices not earlier than on the 120<sup>th</sup> day prior to such special meeting and not later than the close of business on the later of: (I) the 90<sup>th</sup> day prior to such special meeting or (II) the 10<sup>th</sup> day following the date of the first Public Disclosure of the date of the special meeting and of the nominees proposed by the Board to be elected at such meeting. In no event shall the Public Disclosure of an adjournment, recess, rescheduling or postponement of a special meeting commence a new time period (or extend any notice time period). For the avoidance of doubt, the number of nominees a Proposing Stockholder may nominate for election on its own behalf (or in the case of one or more Proposing Stockholders giving the notice on behalf of a beneficial owner, the number of nominees such Proposing Stockholders may collectively nominate for election on behalf of such beneficial owner) at the special meeting shall not exceed the number of directors to be elected at such special meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Additional Information</u>. The Corporation and the Board may, as a condition to any business (including, but not limited to, director nominations) being deemed properly brought before a meeting of stockholders, require any Holder or any proposed nominee to deliver to the Corporate Secretary within five Business Days of any such request (x) such other information as may be reasonably requested by the Board to determine (I) whether such proposed nominee is qualified under the Certificate of Incorporation, these Bylaws, the rules and regulations of any stock exchange applicable to the Corporation, or any law or regulation applicable to the Corporation to serve as a director of the Corporation and (II) whether such proposed nominee qualifies as an "independent director" or "audit committee financial expert," or otherwise meets heightened standards of independence under applicable law, stock exchange rule or regulation or any publicly disclosed corporate governance guideline or committee charter of the Corporation or (y) such other information that the Board reasonably determines could be material to a reasonable stockholder's understanding of the independence, or lack thereof, of such proposed nominee.

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<u>Section</u> <u>2.13</u> <u>Updates and Supplements; Effect of Noncompliance</u><u>.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Updates and Supplements</u>. To be considered timely and in proper form, a Proposing Stockholder's notice pursuant to <u>Section</u> <u>2.12</u> of these Bylaws and any Special Meeting Request (including the accompanying the affidavit) shall be further updated and supplemented, if necessary, so that the information provided or required to be provided therein shall be true and correct as of the record date for the applicable meeting and as of the date that is 15 days prior to the applicable meeting or any adjournment, recess, rescheduling or postponement thereof, and such update and supplement shall be delivered to the Corporate Secretary at the principal executive offices of the Corporation not later than five days after the later of the record date for the applicable meeting and the date of the first Public Disclosure of such record date in the case of the update and supplement required to be made as of the record date, and not later than 10 days prior to the date for the applicable meeting or any adjournment, recess, rescheduling or postponement thereof in the case of the update and supplement required to be made as of 15 days prior to the applicable meeting or any adjournment, recess, rescheduling or postponement thereof. In addition, if the Proposing Stockholder has delivered to the Corporation a notice relating to director nominations or the Special Meeting Request relates to director nominations, the Proposing Stockholder or Requesting Stockholder, as applicable, shall deliver to the Corporation not later than 10 days prior to the date of the meeting or any adjournment, recess, rescheduling or postponement thereof, evidence reasonably satisfactory to the Corporation that it has complied with the requirements of Rule 14a-19 of the Exchange Act (or any successor provision). For the avoidance of doubt, the obligation to update and supplement set forth in this paragraph or any other Section of these Bylaws shall not limit the Corporation's rights with respect to any deficiencies in any notice provided by a stockholder, extend any applicable deadlines hereunder or under any other provision of these Bylaws or enable or be deemed to permit a stockholder who has previously submitted notice hereunder or under any other provision of these Bylaws to amend or update any proposal or to submit any new proposal, including by changing or adding nominees, matters, business and/or resolutions proposed to be brought before a meeting of stockholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Effect of Noncompliance</u>. Only such persons who are nominated in accordance with the procedures set forth in these Bylaws shall be eligible to be elected at any meeting of stockholders of the Corporation to serve as directors and only such other business shall be conducted at a meeting as shall be brought before the meeting in accordance with the procedures set forth in these Bylaws. Except as otherwise provided by law, the Certificate of Incorporation or these Bylaws, at any meeting of stockholders, the chair of the meeting, or in advance of any such meeting, the Board, shall have the power and duty to determine whether a nomination or any other business proposed to be brought before the meeting was made or proposed, as the case may be, in accordance with the procedures set forth in these Bylaws. If any proposed nomination was not made or proposed in compliance with these Bylaws, or other business was not made or proposed in compliance with these Bylaws, then except as otherwise required by law, the chair of the meeting, or in advance of any such meeting, the Board, shall have the power and duty to declare that such nomination or other business was not properly brought before the meeting and in accordance with the provisions of these Bylaws, and that such nomination shall be disregarded or that such proposed other business shall not be transacted. Notwithstanding anything in these Bylaws to the contrary, unless otherwise required by law, if a stockholder intending to propose business or make nominations at a meeting of stockholders pursuant to <u>Section</u> <u>2.03</u> and/or <u>Section</u> <u>2.12</u> of these Bylaws does not provide the information required under <u>Section</u> <u>2.12</u> or <u>Section</u> <u>2.13(a)</u> to the Corporation or such stockholder (or a Qualified Representative of the such stockholder) does not appear at the meeting to present the proposed business or nominations, such business or nominations shall not be considered, notwithstanding that proxies in respect of nominations or other business may have been received by the Corporation. For the avoidance of doubt, if a stockholder provides notice pursuant to Rule 14a-19(b) under the Exchange Act and such stockholder subsequently either (x) notifies the Corporation that such stockholder no longer intends to solicit proxies in support of director nominees other than the Corporation's nominees in accordance with Rule 14a-19 under the Exchange Act or (y) fails to comply with the requirements of Rule 14a-19 under the Exchange Act (or fails to timely provide evidence reasonably satisfactory to the Corporation that the stockholder has satisfied the requirements of Rule 14a-19 under the Exchange Act), then the nomination of such nominee for election or reelection to the Board will be disregarded and no vote on the election of such proposed nominee will occur (notwithstanding that proxies in respect of such vote may have been received by the Corporation).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Rule 14a-8</u>. <u>Section</u> <u>2.12</u> and <u>Section</u> <u>2.13</u> of these Bylaws shall not apply to a proposal proposed to be made by a stockholder if the stockholder has notified the Corporation of the stockholder's intention to present the proposal in compliance with Rule 14a-8 under the Exchange Act and such proposal has been included in a proxy statement that has been prepared by the Corporation to solicit proxies for such meeting.

**ARTICLE III** 

**DIRECTORS** 

<u>Section</u> <u>3.01</u> <u>General Powers</u>. The business and affairs of the Corporation shall be managed by or under the direction of the Board. The Board may adopt such rules and procedures, not inconsistent with the Certificate of Incorporation, these Bylaws or applicable law, as it may deem proper for the conduct of its meetings and the management of the Corporation.

<u>Section</u> <u>3.02</u> <u>Number of Directors</u>. The number of the directors shall be determined from time to time by resolution adopted by the Board, but shall be no less than one and no more than 15.

<u>Section</u> <u>3.03</u> <u>Resignation</u>. Any director may resign at any time by notice given in writing or by electronic transmission to the Corporation. Such resignation shall take effect at the date of receipt of such notice by the Corporation or at such later effective date or upon the happening of an event or events as is therein specified.

<u>Section</u> <u>3.04</u> <u>Fees and Expenses</u>. Directors shall receive such fees for their services on the Board and any committee thereof and such reimbursement of their expenses incurred in connection with the discharge of their duties as directors as may be fixed or determined by the Board.

<u>Section</u> <u>3.05</u> <u>Regular Meetings</u>. Regular meetings of the Board may be held without notice at such times and at such places as may be determined from time to time by the Board.

<u>Section</u> <u>3.06</u> <u>Special Meetings</u>. Special meetings of the Board may be held at such times and at such places as may be determined by the (i) Chair of the Board, (ii) Chief Executive Officer, (iii) lead independent director (if one exists) or (iv) Corporate Secretary on the request in writing or by electronic transmission of a majority of the directors then in office, or the sole director, as the case may be, in each case on at least 24 hours' notice to each director given by one of the means specified in <u>Section</u> <u>3.09</u> of these Bylaws, other than by mail, or on at least two days' notice if given by mail. The notice need not state the purposes of the special meeting and, unless indicated in the notice thereof, any and all business may be transacted at a special meeting.

<u>Section</u> <u>3.07</u> <u>Remote Meetings</u>. Board or Board committee meetings may be held by means of telephone conference or other communications equipment by means of which all persons participating in the meeting can hear each other and be heard. Participation by a director in a meeting pursuant to this <u>Section</u> <u>3.07</u> shall constitute presence in person at such meeting.

<u>Section</u> <u>3.08</u> <u>Adjourned Meetings</u>. A majority of the directors present at any meeting of the Board, including an adjourned meeting, whether or not a quorum is present, may adjourn and reconvene such meeting to another time and place. At least 24 hours' notice of any adjourned meeting of the Board shall be given to each director whether or not present at the time of the adjournment, if such notice shall be given by one of the means specified in <u>Section</u> <u>3.09</u> of these Bylaws other than by mail, or at least two days' notice if by mail. Any business may be transacted at an adjourned meeting that might have been transacted at the meeting as originally called.

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<u>Section</u> <u>3.09</u> <u>Notices</u>. Subject to <u>Section</u> <u>3.06</u>, <u>Section</u> <u>3.08</u> and <u>Section</u> <u>3.10</u> of these Bylaws, whenever notice is required to be given to any director by applicable law, the Certificate of Incorporation or these Bylaws, such notice shall be deemed given effectively if given in person or by telephone, by mail addressed to such director at such director's address as it appears on the records of the Corporation, facsimile, e-mail or by other means of electronic transmission.

<u>Section</u> <u>3.10</u> <u>Waiver of Notice</u>. Whenever notice to directors is required by applicable law, the Certificate of Incorporation or these Bylaws, a waiver thereof, in writing or by electronic transmission, given by the director entitled to the notice, whether before or after such notice is required, shall be deemed equivalent to notice. Attendance by a director at a meeting shall constitute a waiver of notice of such meeting except when the director attends a meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business on the ground that the meeting was not lawfully called or convened. Neither the business to be transacted at, nor the purpose of, any regular or special Board or Board committee meeting need be specified in any waiver of notice.

<u>Section</u> <u>3.11</u> <u>Organization</u>. At each regular or special meeting of the Board, the Chair of the Board or, in his or her absence, another director or officer selected by the Board, shall preside. The Corporate Secretary shall act as secretary at each meeting of the Board. If the Corporate Secretary is absent from any meeting of the Board, an assistant secretary of the Corporation shall perform the duties of secretary at such meeting; and in the absence from any such meeting of the Corporate Secretary and all assistant secretaries of the Corporation, the person presiding at the meeting may appoint any person to act as secretary of the meeting.

<u>Section</u> <u>3.12</u> <u>Quorum of Directors</u>. Except as otherwise provided by these Bylaws, the Certificate of Incorporation or required by applicable law, the presence of a majority of the total number of directors on the Board shall be necessary and sufficient to constitute a quorum for the transaction of business at any meeting of the Board.

<u>Section</u> <u>3.13</u> <u>Action by Majority Vote</u>. Except as otherwise provided by these Bylaws, the Certificate of Incorporation, or required by applicable law, the vote of a majority of the directors present at a meeting at which a quorum is present shall be the act of the Board.

<u>Section</u> <u>3.14</u> <u>Action by Written Consent</u>. Unless otherwise restricted by the Certificate of Incorporation, these Bylaws or applicable law, any action required or permitted to be taken at any meeting of the Board or of any committee thereof may be taken without a meeting if all directors or members of such Board committee, as the case may be, consent thereto in writing or by electronic transmission. After an action is taken, the consent or consents relating thereto shall be filed with the minutes of proceedings of the Board or committee in the same paper or electronic form as the minutes are maintained.

<u>Section</u> <u>3.15</u> <u>Chair of the Board</u>. The Board shall elect one of its members to be its chair (the "<u>Chair of the Board</u>"), which may be an executive chair or a non-executive chair, and shall fill any vacancy in the position of Chair of the Board at such time and in such manner as the Board shall determine. The Board may at any time remove the Chair of the Board from such office. Except as otherwise provided in these Bylaws, the Chair of the Board shall preside at all meetings of the Board and of stockholders. The Chair of the Board shall perform such other duties and services as shall be assigned to or required of the Chair of the Board by the Board.

<u>Section</u> <u>3.16</u> <u>Committees of the Board</u>. The Board may designate one or more committees, each committee to consist of one or more of the directors of the Corporation. The Board may designate one or more directors as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee. If a member of a committee shall be absent from any meeting, or disqualified from voting thereat, the remaining member or members present at the meeting and not disqualified from voting, whether or not such member or members constitute a quorum, may unanimously appoint another member of the Board to act at the meeting in the place of any such absent or disqualified member. Any such committee, to the extent permitted by applicable law, shall have such powers and authority and may authorize the seal of the Corporation to be affixed to all papers that may require it, in each case to the extent so authorized by the Board, as evidenced by the relevant committee charter or otherwise. Unless the Board

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provides otherwise, at all meetings of such committee, a majority of the members of the committee then serving shall constitute a quorum for the transaction of business, and the vote of a majority of the members of the committee present at any meeting at which there is a quorum shall be the act of the committee. Each committee shall keep regular minutes of its meetings. Unless the Board provides otherwise, each committee designated by the Board may make, alter and repeal rules and procedures for the conduct of its business. In the absence of such rules and procedures, each committee shall conduct its business in the same manner as the Board conducts its business pursuant to this <u>Article III</u>.

<u>Section</u> <u>3.17</u> <u>Newly Created Directorships and Vacancies</u>. Newly created directorships resulting from any increase in the authorized number of directors and vacancies on the Board resulting from death, resignation, disqualification, removal or other cause shall only be filled by the affirmative vote of a majority of the remaining directors then in office or by a sole remaining director, even though less than a quorum of the Board. Any director appointed in accordance with the preceding sentence of this <u>Section</u> <u>3.17</u> shall hold office until the first annual meeting of the stockholders held after such director's appointment for the purpose of electing directors and, unless the number of directors is reduced effective at such annual meeting in accordance with the Certificate of Incorporation and <u>Section</u> <u>3.02</u> of these Bylaws, until such Director's successor shall have been elected and qualified or until his or her earlier death, resignation, disqualification or removal.

<u>Section</u> <u>3.18</u> <u>Removal</u>. Directors of the Corporation may be removed in the manner provided in the Certificate of Incorporation and applicable law.

**ARTICLE IV** 

**OFFICERS** 

<u>Section</u> <u>4.01</u> <u>Position and Election</u>. The officers of the Corporation shall be appointed by the Board and shall include a chief executive officer (the "<u>Chief Executive Officer</u>"), a chief financial officer (the "<u>Chief Financial Officer</u>"), the Chief Legal Officer (the "<u>Chief Legal Officer</u>"), a corporate secretary (the "<u>Corporate Secretary</u>"), as well as such other officers as the Board (or any other officer to whom such authority has been delegated by the Board) may from time to time determine including, but not limited to, one or more presidents, vice presidents, treasurers, assistant treasurers and assistant secretaries. The Corporation may also have, at the discretion of the Board, a principal accounting officer or controller or any such other officers as the Board may from time to time deem appropriate or necessary. Any number of offices may be held by the same person, except that no one person may execute, acknowledge or verify any instrument in more than one capacity if such instrument is required by law, the Certificate of Incorporation or these Bylaws to be executed, acknowledged or verified by two or more officers.

<u>Section</u> <u>4.02</u> <u>Term of Office; Removal; Resignation</u>. Each officer of the Corporation shall hold office until such officer's successor is elected and qualified or until such officer's earlier death, resignation, or removal in the manner provided in these Bylaws and in any employment agreement that the Corporation enters into with such officer. Any officer may be removed, either with or without cause, by the Board or, except in the case of any officer elected by the Board, by any superior officer upon whom such power may be conferred by the Board. The removal of an officer shall be without prejudice to his or her contract rights, if any. The election or appointment of an officer shall not of itself create contract rights. Any officer of the Corporation may resign at any time by giving notice in writing or by electronic transmission of his or her resignation in accordance with the provisions of his or her employment agreement, if any. Unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective. Should any vacancy occur among the officers, the position shall be filled by an appointment made by the Board.

<u>Section</u> <u>4.03</u> <u>Powers and Duties</u>. The powers and duties of the officers of the Corporation shall be as provided from time to time by resolution of the Board (or any other officer to whom such authority has been delegated by the Board). In the absence of such determination, the respective officers shall have the powers and shall discharge the duties customarily and usually held and performed by like officers of corporations similar in organization and business purposes to the Corporation subject to the control of the Board.

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<u>Section</u> <u>4.04</u> <u>Duties of Officers May Be Delegated</u>. In case any officer is absent, or for any other reason that the Board may deem sufficient, the Chief Executive Officer or the Board may delegate for the time being the powers or duties of such officer to any other officer or to any director.

**ARTICLE V** 

**CERTIFICATES OF STOCK AND THEIR TRANSFER** 

<u>Section</u> <u>5.01</u> <u>Certificates Representing Shares</u>.<u> </u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The shares of the Corporation may be represented by certificates or may be uncertificated. If shares are represented by certificates, such certificates shall be in the form, other than bearer form, approved by the Board. Any uncertificated shares may be evidenced by a book-entry system maintained by the registrar of such stock. Absent a specific request for such a certificate by the registered owner or transferee thereof, all shares may be uncertificated upon the original issuance thereof by the Corporation or upon surrender of the certificate representing such shares to the Corporation or its transfer agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any certificates representing shares of stock shall be signed by, or in the name of, the Corporation by any two authorized officers of the Corporation, which shall include, without limitation, the Chief Financial Officer, and the Corporate Secretary, as well as such other officers as the Board may from time to time determine including, but not limited to, one or more presidents, vice presidents, treasurers, assistant treasurers and assistant secretaries. Any or all such signatures may be electronic. In the event that any officer, transfer agent or registrar whose manual or electronic signature is affixed to such a certificate ceases to be such officer, transfer agent or registrar before such certificate has been issued, the certificate may nevertheless be issued by the Corporation with the same effect as if such officer, transfer agent or registrar were still such at the date of its issue.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If the Board chooses to issue shares of stock without certificates, the Corporation, if required by the DGCL, shall, within a reasonable time after the issuance or transfer of shares without certificates, send the stockholder of the Corporation a written statement of the information required by the DGCL. The Corporation may adopt a system of issuance, recordation and transfer of its shares of stock by electronic or other means not involving the issuance of certificates; *provided*, *however*, that the use of such system by the Corporation is permitted by applicable law.

<u>Section</u> <u>5.02</u> <u>Transfer of Stock</u>. Stock of the Corporation shall be transferable in the manner prescribed by law and in these Bylaws. Transfers of stock shall be made on the books administered by or on behalf of the Corporation only by the direction of the registered holder thereof or such person's attorney, lawfully constituted in writing, and, in the case of certificated shares, upon the surrender to the Corporation or its transfer agent or other designated agent of the certificate thereof, which shall be cancelled before a new certificate or uncertificated shares shall be issued; *provided*, however, that such surrender shall not be required in any case in which the officers of the Corporation shall determine to waive such requirement.

<u>Section</u> <u>5.03</u> <u>Transfer Agents and Registrars</u>. The Board may appoint, or authorize any officer or officers to appoint, one or more transfer agents and one or more registrars.

<u>Section</u> <u>5.04</u> <u>Lost, Stolen or Destroyed Certificates</u>. The Corporation may direct a new certificate or uncertificated shares to be issued in place of any certificate theretofore issued by the Corporation alleged to have been lost, stolen or destroyed upon the making of an affidavit of that fact by the owner of the allegedly lost, stolen or destroyed certificate. A new certificate or uncertificated shares of stock may be issued in the place of any certificate previously issued by the Corporation that has become mutilated upon the surrender by such owner of such mutilated certificate. When authorizing such issue of a new certificate or uncertificated shares, the Corporation may, in its discretion and as a condition precedent to the issuance thereof, require the owner of the lost, stolen or destroyed certificate, or the owner's legal representative, to give the Corporation a bond sufficient to indemnify it against any claim that may be made against the Corporation with respect to the certificate alleged to have been lost, stolen or destroyed or the issuance of such new certificate or uncertificated shares.

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**ARTICLE VI** 

**GENERAL PROVISIONS** 

<u>Section</u> <u>6.01</u> <u>Seal</u>. The Corporation may adopt a corporate seal, which shall be adopted (and may be revised from time to time) by the Board. The seal may be used by causing it or a facsimile thereof to be impressed or affixed or reproduced or otherwise, as may be prescribed by law or custom or by the Board.

<u>Section</u> <u>6.02</u> <u>Fiscal Year</u>. The fiscal year of the Corporation shall end on December 31 of each year or such other date as may be fixed from time to time by the Board.

<u>Section</u> <u>6.03</u> <u>Execution of Documents</u>. The Board shall designate the officers, employees and agents of the Corporation who shall have power to execute and deliver deeds, contracts, mortgages, bonds, debentures, notes, checks, drafts and other orders for the payment of money and other documents for and in the name of the Corporation and may authorize (including authority to redelegate) by written instrument to other officers, employees or agents of the Corporation. Such delegation may be by resolution or otherwise and the authority granted shall be general or confined to specific matters, all as the Board or any such committee may determine. In the absence of such designation referred to in the first sentence of this <u>Section</u> <u>6.03</u>, the officers of the Corporation shall have such power so referred to, to the extent incident to the normal performance of their duties.

<u>Section</u> <u>6.04</u> <u>Books and Records</u>. Any records administered by or on behalf of the Corporation in the regular course of its business, including its stock ledger, books of account and minute books, may be maintained on any information storage device, method or one or more electronic networks or databases (including one or more distributed electronic networks or databases) at such place or places, whether inside or outside of the State of Delaware; provided that the records so kept can be converted into clearly legible paper form within a reasonable time, and, with respect to the stock ledger, the records so kept comply with Section 224 of the DGCL. The Corporation shall so convert any records so kept upon the request of any person entitled to inspect such records pursuant to applicable law.

<u>Section</u> <u>6.05</u> <u>Emergency Bylaws</u>. This <u>Section</u> <u>6.05</u> shall be operative during any emergency, disaster or catastrophe, as referred to in Section 110 of the DGCL or any other similar emergency condition (an "<u>Emergency</u>"), notwithstanding any different or conflicting provisions in these Bylaws, the Certificate of Incorporation or the DGCL. In the event of any Emergency, or other similar emergency condition, if a quorum cannot be readily convened for a meeting, the director or directors in attendance at a meeting of the Board or a standing committee thereof shall constitute a quorum. Such director or directors in attendance may further take action to appoint one or more of themselves or other directors of the Corporation to membership on any standing or temporary committees of the Board as they shall deem necessary and appropriate. Except as the Board may otherwise determine, during any Emergency, the Corporation and its directors and officers may exercise any authority and take any action or measure contemplated by Section 110 of the DGCL.

<u>Section</u> <u>6.06</u> <u>Severability</u>. If any provision of these Bylaws shall be held to be invalid, illegal or unenforceable as applied to any person or entity or circumstance for any reason whatsoever, then, to the fullest extent permitted by law, the validity, legality and enforceability of such provision in any other circumstance and of the remaining provisions of these Bylaws and the application of such provision to other persons or entities or circumstances shall not in any way be affected or impaired thereby.

**ARTICLE VII** 

**INDEMNIFICATION, ADVANCEMENT OF EXPENSES AND INSURANCE** 

<u>Section</u> <u>7.01</u> <u>Right to Indemnification In Proceedings Other than Proceedings by or in the Right of the Corporation</u>. Each person who was or is made a party or is threatened to be made a party to or participant in, or otherwise becomes involved in, any Proceeding (as defined below), other than a Proceeding by or in the right of the Corporation, shall be indemnified by the Corporation to the Fullest Extent Permitted By Applicable Law (as defined below) against all Losses (as defined below) and Expenses (as defined below) actually and reasonably incurred by such person, or on such person's behalf, in connection with such Proceeding or any claim, issue or matter therein, if such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the Corporation, and with respect to any criminal Proceeding, had no reasonable cause to believe such person's conduct was unlawful.

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<u>Section</u> <u>7.02</u> <u>Right to Indemnification in Proceedings by or in the Right of the Corporation</u>. Each person who was or is made a party or is threatened to be made a made a party to or participant in, or otherwise becomes involved in, any Proceeding brought by or in the right of the Corporation shall be indemnified by the Corporation to the Fullest Extent Permitted By Applicable Law against all Expenses actually and reasonably incurred by such person, or on such person's behalf, in connection with such Proceeding or any claim, issue or matter therein, if such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the Corporation; provided, however, if applicable law so provides, no indemnification against such Expenses shall be made in respect of any claim, issue or matter in such Proceeding as to which such person shall have been adjudged to be liable to the Corporation unless and only to the extent that the Chancery Court of the State of Delaware or the court in which such Proceeding was brought shall determine that such person is fairly and reasonably entitled to such indemnification.

<u>Section</u> <u>7.03</u> <u>Indemnification of Expenses</u>. To the extent that the Indemnitee (as defined below) is successful, on the merits or otherwise, in defense of any Proceeding, the Indemnitee shall be indemnified to the Fullest Extent Permitted By Applicable Law, against all Expenses actually and reasonably incurred by the Indemnitee or on the Indemnitee's behalf in connection therewith. If the Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Corporation shall indemnify the Indemnitee against all Expenses actually and reasonably incurred by the Indemnitee or on the Indemnitee's behalf in connection with each successfully resolved claim, issue or matter. For purposes of this <u>Section</u> <u>7.03</u> and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, on substantive or procedural grounds, shall be deemed to be a successful result as to such claim, issue or matter.

<u>Section</u> <u>7.04</u> <u>Advancement of Expenses</u>. The Corporation shall advance, to the Fullest Extent Permitted By Applicable Law, all Expenses incurred by or on behalf of the Indemnitee in connection with any Proceeding within 30 days after the receipt by the Corporation of a statement or statements from the Indemnitee requesting such advance or advances from time to time. Such statement or statements shall reasonably evidence the Expenses incurred by the Indemnitee. The Indemnitee shall qualify for advances upon the execution and delivery to the Corporation of an Indemnification Agreement, which shall constitute an undertaking providing that the Indemnitee undertakes to repay the amounts advanced by the Corporation, if and only to the extent that it is ultimately determined that the Indemnitee is not entitled to be indemnified by the Corporation. Unless otherwise determined by the Board, no other form of undertaking shall be required other than the execution of an Indemnification Agreement. Any advances and undertakings to repay pursuant to the Indemnification Agreement shall be unsecured and interest free.

<u>Section</u> <u>7.05</u> <u>Insurance</u>. The Corporation may purchase and maintain insurance on its own behalf and on behalf of any person who is or was or has agreed to become a director, officer, employee or agent of the Corporation or is or was serving at the request of the Corporation as a director, officer, partner, trustee, member, manager, employee, agent or fiduciary of another Enterprise, against any Expenses or Losses asserted against them and incurred by them in any such capacity, or arising out of their Corporate Status, whether or not the Corporation would have the power to indemnify such person against such Expenses or Losses under the DGCL.

<u>Section</u> <u>7.06</u> <u>Service for Subsidiaries</u>. Any person serving as a director, officer, partner, trustee, member, manager, employee, agent or fiduciary of any Enterprise, at least 50% of whose equity interests are owned, directly or indirectly, by the Corporation shall be conclusively presumed to be serving in such capacity at the request of the Corporation.

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<u>Section</u> <u>7.07</u> <u>Reliance</u>. Persons who after the date of the adoption of this provision become or remain directors or officers of the Corporation or who, while a director or officer of the Corporation, become or remain, at the request of the Corporation, a director, officer, partner, trustee, member, manager, employee, agent or fiduciary of any Enterprise, shall be conclusively presumed to have relied on the rights to indemnity, advancement of Expenses and other rights contained in this <u>Article VII</u> in entering into or continuing such service. To the fullest extent permitted by law, the rights to indemnification and to the advancement of Expenses conferred in this <u>Article VII</u> shall apply to claims made against an Indemnitee arising out of acts or omissions which occurred or occur both prior and subsequent to the adoption hereof. Any amendment or repeal of this <u>Article VII</u> that adversely affects any right of an Indemnitee or its successors shall be prospective only and shall not eliminate, reduce or otherwise adversely affect any such right or protection with respect to any Proceeding involving any action or omission that occurred or allegedly occurred prior to such amendment or repeal.

<u>Section</u> <u>7.08</u> <u>Contract Rights; Continuation of Rights of Indemnification; Rights Subject to Indemnification Agreement</u>. All rights to indemnification and advancement of Expenses under this <u>Article VII</u> shall be deemed to be a contract between the Corporation and each director or officer of the Corporation who serves or served in such capacity at any time while this <u>Article VII</u> is in effect. The rights to indemnification and to the advancement of Expenses conferred in this <u>Article VII</u> shall not be exclusive of any other right which any person may have or hereafter acquire under the Certificate of Incorporation or under any statute, agreement, vote of stockholders or disinterested directors or otherwise; provided that, if the Indemnitee and the Corporation are parties to an Indemnification Agreement, for so long as such Indemnification Agreement is in effect, the rights and obligations of the Corporation and the Indemnitee with respect to indemnification and the advancement of Expenses under such Indemnification Agreement shall supersede and replace the rights to indemnification and advancement provided to such Indemnitee under these Bylaws, and such Indemnitee shall have no rights of indemnification and to the advancement of expenses except as provided in such Indemnification Agreement, which are incorporated into these Bylaws by reference and made a part hereof.

<u>Section</u> <u>7.09</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Savings Clause</u>. To the Fullest Extent Permitted By Applicable Law, if this <u>Article VII</u> or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the Corporation shall nevertheless indemnify and advance Expenses to each person entitled to indemnification under this <u>Article VII</u> as to all Expenses and Losses actually and reasonably incurred or suffered by such person and for which indemnification and advancement of Expenses is available to such person pursuant to this <u>Article VII</u> to the fullest extent permitted by any applicable portion of this <u>Article VII</u> that shall not have been invalidated. Any repeal or amendment of this <u>Article VII</u> or, to the Fullest Extent Permitted By Applicable Law, repeal or modification of relevant provisions of the DGCL or any other applicable laws shall not in any way eliminate, reduce or otherwise adversely affect any rights to indemnification and advancement of Expenses of such director or officer or the obligations of the Corporation arising hereunder with respect to any Proceeding arising out of, or relating to, any actions or omissions that occurred or alleged to have occurred prior to the final adoption of such repeal, amendment or modification.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Definitions</u>. Solely for the purpose of this <u>Article VII</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) "<u>Corporate Status</u>" means the status of a person who is or was a director or officer, of the Corporation or, while a director or officer of the Corporation, is or was serving at the request of the Corporation as a director, officer, partner, trustee, member, manager, employee, agent or fiduciary of any other Enterprise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) "<u>Enterprise</u>" means the Corporation and any corporation, partnership, joint venture, trust, limited liability company, employee benefit plan or other enterprise that the Indemnitee is or was serving at the request of the Corporation as a director, officer, trustee, partner, member, manager, employee, agent or fiduciary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) "<u>ERISA</u>" means the Employee Retirement Income Security Act of 1974, as amended from time to time.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) "<u>Expenses</u>" means all reasonable direct and indirect costs, fees and expenses of any type or nature whatsoever and shall specifically include, without limitation, all reasonable attorneys' fees, retainers, court costs, transcript costs, fees and costs of experts and other professionals, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, participating, or being or preparing to be a witness in, or otherwise participating in, a Proceeding, or responding to, or objecting to, a request to provide discovery in any Proceeding. Expenses also shall include Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent, and any federal, state, local or foreign taxes imposed on a person as a result of the actual or deemed receipt of any payments under this <u>Article VII</u>, as well as all reasonable attorneys' fees and all other expenses incurred by or on behalf of the Indemnitee in connection with preparing and submitting any requests or statements for indemnification, advancement, contribution or any other right provided by this <u>Article VII</u>. Expenses, however, shall not include amounts paid in settlement by the Indemnitee or the amount of judgments or fines against the Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) "<u>Fullest Extent Permitted By Applicable Law</u>" includes, but is not limited to: (i) to the fullest extent permitted by the applicable provision of the DGCL, or the corresponding provision of any amendment to or replacement of the DGCL, and (ii) to the fullest extent authorized or permitted by any amendments to or replacements of the DGCL adopted hereafter that increase the extent to which a corporation may indemnify its directors and officers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) "<u>Indemnitee</u>" means a person entitled to be indemnified by the Corporation pursuant to <u>Article VII</u> of these Bylaws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) "<u>Indemnification Agreement</u>" means any agreement between the Corporation and an Indemnitee providing Indemnitee with rights to indemnification and advancement of expenses incurred in defending any Proceeding brought against the Indemnitee by virtue of Indemnitee's Corporate Status, whether now existing or hereafter entered into.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) "<u>Losses</u>" means all liabilities, judgments, fines, penalties, costs, losses, excise taxes or penalties under ERISA, amounts paid in settlement (including all interest assessments and other charges paid or payable in connection with or in respect of such liabilities, losses, judgements, fines, excise taxes, penalties and costs) and other amounts that the Indemnitee reasonably incurs and that result from, arise in connection with or are by reason of the Indemnitee's Corporate Status.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) Any references to the "<u>Corporation</u>" shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers and employees or agents, so that any Indemnitee shall stand in the same position under this <u>Article VII</u> with respect to the resulting or surviving corporation as they would have with respect to such constituent corporation if its separate existence had continued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) Any reference to an "<u>officer</u>" of the Corporation shall be deemed to refer exclusively to the Chief Executive Officer, the Chief Financial Officer, the Chief Legal Officer and the Corporate Secretary appointed pursuant to <u>Article IV</u> of these Bylaws, and to any other officers of the Corporation appointed by the Board pursuant to <u>Article IV</u> of these Bylaws, including, without limitation, any "executive officer" or "Section 16 officer," and any reference to an officer of any other Enterprise shall be deemed to refer exclusively to an officer appointed by the board of directors or equivalent governing body of such other entity pursuant to the certificate of incorporation and bylaws or equivalent organizational documents of such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise. The fact that any person who is or was an employee of the Corporation or an employee of any other Enterprise, but not an officer thereof as described in the preceding sentence, has been given or has used the title of "Vice President" or any other title that could be construed to suggest or imply that such person is or may be such an officer of the Corporation or of such other Enterprise shall not result in such person being constituted as, or being deemed to be, such an officer of the Corporation or of such other Enterprise for purposes of this <u>Article VII</u>.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi) "<u>Proceeding</u>" includes any threatened, pending or completed action, suit, claim, counterclaim, cross claim, arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought by or in the right of the Corporation or otherwise and whether civil, criminal, administrative or investigative, in which the Indemnitee was, is or will be involved as a party, potential party, non-party witness or otherwise, by reason of the Indemnitee's Corporate Status or by reason of any action taken by the Indemnitee or of any inaction on the Indemnitee's part while acting in the Indemnitee's Corporate Status, in each case whether or not the Indemnitee is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under these Bylaws, but excluding one initiated by an Indemnitee to enforce the Indemnitee's rights under this <u>Article VII</u>.

**ARTICLE VIII** 

**AMENDMENTS** 

<u>Section</u> <u>8.01</u> <u>Amendments</u>. In furtherance and not in limitation of the powers conferred by law, these Bylaws may be amended, altered or repealed, and new bylaws may be made by, (i) the Board or (ii) the stockholders by the affirmative vote of the holders of a majority of the voting power of the then outstanding shares of the Corporation entitled to vote thereon, voting together as a single class, which vote shall be in addition to any vote of the holders of any class or series of shares of the Corporation required in the Certificate of Incorporation; provided that any proposal by a stockholder to amend these Bylaws will be subject to the provisions of <u>Article II</u> of these Bylaws, except as otherwise required by law.

## Exhibit 10.1

**Exhibit 10.1** 

**CONFORMED COPY** 

NOTE PURCHASE AGREEMENT

Dated as of November 4, 2024

among

RBP GLOBAL HOLDINGS LIMITED,

as the Issuer,

INDIVIOR GLOBAL HOLDINGS LIMITED,

as Holdings,

THE PERSONS FROM TIME TO TIME PARTY HERETO,

as Notes Parties,

PIPER SANDLER FINANCE LLC,

as Administrative Agent,

and

THE PURCHASERS IDENTIFIED ON SCHEDULE 1.01(A) HERETO

as amended pursuant to the First Amendment to Note Purchase Agreement

------

---

| | | |
|:---|:---|:---|
| **TABLE OF CONTENTS** | **TABLE OF CONTENTS** | **TABLE OF CONTENTS** |
|  |  | <u>Page</u> |
| ARTICLE 1 | ARTICLE 1 | ARTICLE 1 |
| DEFINITIONS | DEFINITIONS | DEFINITIONS |
| Section 1.01 | Defined Terms | 1 |
| Section 1.02 | Classification of Notes and Borrowings | 68 |
| Section 1.03 | Terms Generally | 68 |
| Section 1.04 | Accounting Terms; GAAP | 69 |
| Section 1.05 | Effectuation of Transactions | 70 |
| Section 1.06 | Timing of Payment of Performance | 71 |
| Section 1.07 | Exchange Rates; Currency Equivalents | 71 |
| Section 1.08 | Additional Alternative Currencies | 71 |
| Section 1.09 | Times of Day | 72 |
| Section 1.10 | Currency Generally | 72 |
| Section 1.11 | Cashless Rollovers | 73 |
| Section 1.12 | Certain Calculations and Tests | 73 |
| Section 1.13 | Rounding | 74 |
| Section 1.14 | Benchmark Replacement | 74 |
| Section 1.15 | Irish Terms | 74 |
| Section 1.16 | Special Luxembourg Provisions | 75 |
| Section 1.17 | Special Jersey Provisions | 75 |
| ARTICLE 2 | ARTICLE 2 | ARTICLE 2 |
| THE NOTES | THE NOTES | THE NOTES |
| Section 2.01 | Commitments | 75 |
| Section 2.02 | Notes and Borrowings | 76 |
| Section 2.03 | Requests for Borrowings | 77 |
| Section 2.04 | [Reserved] | 77 |
| Section 2.05 | [Reserved] | 77 |
| Section 2.06 | [Reserved] | 77 |
| Section 2.07 | Funding of Borrowings | 78 |
| Section 2.08 | Type; Interest Elections | 78 |
| Section 2.09 | Termination and Reduction of Commitments | 79 |
| Section 2.10 | Repayment of Notes; Evidence of Debt | 80 |
| Section 2.11 | Prepayment of Notes | 81 |
| Section 2.12 | Fees | 85 |
| Section 2.13 | Interest | 87 |
| Section 2.14 | Alternate Rate of Interest | 88 |
| Section 2.15 | Increased Costs | 90 |
| Section 2.16 | Break Funding Payments | 92 |
| Section 2.17 | Taxes | 92 |
| Section 2.18 | Payments Generally; Allocation of Proceeds; Sharing of Payments | 98 |
| Section 2.19 | Mitigation Obligations; Replacement of Holders | 100 |
| Section 2.20 | Illegality | 101 |

---

-i-

------

---

| | | |
|:---|:---|:---|
| **TABLE OF CONTENTS** | **TABLE OF CONTENTS** | **TABLE OF CONTENTS** |
|  |  | <u>Page</u> |
| Section 2.21 | Defaulting Holders | 101 |
| Section 2.22 | Incremental Note Issuances | 103 |
| Section 2.23 | Issuances of Notes and Variable Note Commitments | 109 |
| Section 2.24 | Representations of the Purchasers | 112 |
| Section 2.25 | AHYDO | 112 |
| ARTICLE 3 | ARTICLE 3 | ARTICLE 3 |
| REPRESENTATIONS AND WARRANTIES | REPRESENTATIONS AND WARRANTIES | REPRESENTATIONS AND WARRANTIES |
| Section 3.01 | Organization; Powers | 113 |
| Section 3.02 | Authorization; Enforceability | 113 |
| Section 3.03 | Governmental Approvals; No Conflicts | 113 |
| Section 3.04 | Financial Condition; No Material Adverse Effect | 113 |
| Section 3.05 | Properties | 114 |
| Section 3.06 | Litigation and Environmental Matters | 114 |
| Section 3.07 | Compliance with Laws | 115 |
| Section 3.08 | Investment Company Status | 115 |
| Section 3.09 | Taxes | 115 |
| Section 3.10 | ERISA | 115 |
| Section 3.11 | Disclosure | 115 |
| Section 3.12 | Solvency | 116 |
| Section 3.13 | Capitalization and Subsidiaries | 116 |
| Section 3.14 | Security Interest in Collateral | 116 |
| Section 3.15 | Labor Disputes | 116 |
| Section 3.16 | Federal Reserve Regulations | 116 |
| Section 3.17 | Use of Proceeds | 117 |
| Section 3.18 | Senior Debt | 117 |
| Section 3.19 | Economic and Trade Sanctions and Anti-Corruption Laws | 117 |
| Section 3.20 | Center of Main Interests and Establishments | 118 |
| Section 3.21 | Pensions | 118 |
| Section 3.22 | Luxembourg Regulatory Matters | 118 |
| ARTICLE 4 | ARTICLE 4 | ARTICLE 4 |
| CONDITIONS | CONDITIONS | CONDITIONS |
| Section 4.01 | Closing Date | 119 |
| Section 4.02 | Each Note Issuance | 121 |

---

-ii-

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---

| | | |
|:---|:---|:---|
| **TABLE OF CONTENTS** | **TABLE OF CONTENTS** | **TABLE OF CONTENTS** |
|  |  | <u>Page</u> |
| ARTICLE 5 | ARTICLE 5 | ARTICLE 5 |
| AFFIRMATIVE COVENANTS | AFFIRMATIVE COVENANTS | AFFIRMATIVE COVENANTS |
| Section 5.01 | Financial Statements and Other Reports | 122 |
| Section 5.02 | Existence | 125 |
| Section 5.03 | Payment of Taxes | 125 |
| Section 5.04 | Maintenance of Properties | 125 |
| Section 5.05 | Insurance | 126 |
| Section 5.06 | Inspections | 126 |
| Section 5.07 | Maintenance of Book and Records | 126 |
| Section 5.08 | Compliance with Laws | 126 |
| Section 5.09 | Environmental | 127 |
| Section 5.10 | Designation of Subsidiaries | 128 |
| Section 5.11 | Use of Proceeds | 128 |
| Section 5.12 | Covenant to Guarantee Obligations and Give Security | 129 |
| Section 5.13 | Holders Calls | 130 |
| Section 5.14 | Center of Main Interests | 130 |
| Section 5.15 | Further Assurances | 130 |
| Section 5.16 | Certain Post-Closing Events | 131 |
| Section 5.17 | Pensions | 131 |
| Section 5.18 | Financial Assistance | 131 |
| Section 5.19 | Quoted Eurobond Listing | 131 |
| ARTICLE 6 | ARTICLE 6 | ARTICLE 6 |
| NEGATIVE COVENANTS | NEGATIVE COVENANTS | NEGATIVE COVENANTS |
| Section 6.01 | Indebtedness | 131 |
| Section 6.02 | Liens | 137 |
| Section 6.03 | No Further Negative Pledges | 140 |
| Section 6.04 | Restricted Payments; Certain Payments of Indebtedness | 142 |
| Section 6.05 | Restrictions on Subsidiary Distributions | 146 |
| Section 6.06 | Investments | 147 |
| Section 6.07 | Fundamental Changes; Disposition of Assets | 151 |
| Section 6.08 | Sale and Lease-Back Transactions | 155 |
| Section 6.09 | Transactions with Affiliates | 155 |
| Section 6.10 | Conduct of Business | 157 |
| Section 6.11 | Amendments or Waivers of Organizational Documents | 157 |
| Section 6.12 | Amendments of or Waivers with Respect to Certain Debt | 157 |
| Section 6.13 | Fiscal Year | 157 |
| Section 6.14 | Financial Covenants; Curative Equity | 157 |
| Section 6.15 | Holdings Covenant | 158 |
| Section 6.16 | Material Asset Transactions | 159 |
| Section 6.17 | Account Control Agreements | 159 |
| Section 6.18 | Other Obligations | 160 |

---

-iii-

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---

| | | |
|:---|:---|:---|
| **TABLE OF CONTENTS** | **TABLE OF CONTENTS** | **TABLE OF CONTENTS** |
|  |  | <u>Page</u> |
| ARTICLE 7 | ARTICLE 7 | ARTICLE 7 |
| EVENTS OF DEFAULT | EVENTS OF DEFAULT | EVENTS OF DEFAULT |
| Section 7.01 | Events of Default | 160 |
| ARTICLE 8 | ARTICLE 8 | ARTICLE 8 |
| THE ADMINISTRATIVE AGENT | THE ADMINISTRATIVE AGENT | THE ADMINISTRATIVE AGENT |
| ARTICLE 9 | ARTICLE 9 | ARTICLE 9 |
| MISCELLANEOUS | MISCELLANEOUS | MISCELLANEOUS |
| Section 9.01 | Notices | 175 |
| Section 9.02 | Waivers; Amendments | 177 |
| Section 9.03 | Expenses; Indemnity | 183 |
| Section 9.04 | Waiver of Claim | 185 |
| Section 9.05 | Successors and Assigns | 185 |
| Section 9.06 | Survival | 193 |
| Section 9.07 | Counterparts; Integration; Effectiveness | 194 |
| Section 9.08 | Severability | 194 |
| Section 9.09 | Right of Setoff | 194 |
| Section 9.10 | Governing Law; Jurisdiction; Consent to Service of Process | 195 |
| Section 9.11 | Waiver of Jury Trial | 196 |
| Section 9.12 | Headings | 196 |
| Section 9.13 | Confidentiality | 196 |
| Section 9.14 | No Fiduciary Duty | 197 |
| Section 9.15 | Several Obligations | 198 |
| Section 9.16 | Nonliability of Administrative Agent, Holders and Purchasers | 198 |
| Section 9.17 | USA PATRIOT Act; Beneficial Ownership Regulation Compliance | 198 |
| Section 9.18 | Disclosure | 198 |
| Section 9.19 | Appointment for Perfection | 199 |
| Section 9.20 | Interest Rate Limitation | 199 |
| Section 9.21 | Conflicts | 199 |
| Section 9.22 | Release of Guarantors | 199 |
| Section 9.23 | Judgment Currency | 200 |
| Section 9.24 | Waiver of Sovereign Immunity | 200 |
| Section 9.25 | Acknowledgement and Consent to Bail-In of Affected Financial Institutions | 201 |
| Section 9.26 | Acknowledgement Regarding Any Supported QFCs | 201 |

---

-iv-

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| | |
|:---|:---|
| SCHEDULES: |  |
| Schedule 1.01(a) | Purchaser Schedule |
| Schedule 1.01(b) | Mortgages |
| Schedule 1.01(c) | Agreed Guarantee and Security Principles |
| Schedule 3.05 | Fee Owned Real Estate Assets |
| Schedule 3.13 | Subsidiaries |
| Schedule 5.16 | Closing Date Post-Closing Deliverables |
| Schedule 6.01 | Existing Indebtedness |
| Schedule 6.02 | Existing Liens |
| Schedule 6.06 | Existing Investments |
| Schedule 6.07 | Certain Dispositions |
| Schedule 9.01 | Holdings' Website Address for Electronic Delivery |
| EXHIBITS: |  |
| Exhibit A-1 | Form of Assignment and Assumption |
| Exhibit A-2 | Form of Affiliated Holder Assignment and Assumption |
| Exhibit B | Form of Borrowing Request |
| Exhibit C | Form of Compliance Certificate |
| Exhibit D | Form of Interest Election Request |
| Exhibit E | Form of Perfection Certificate |
| Exhibit F | Form of Perfection Certificate Supplement |
| Exhibit G | Form of Promissory Note |
| Exhibit H | Form of Global Intercompany Note |
| Exhibit I | Form of Guaranty Agreement |
| Exhibit J | Form of U.S. Security Agreement |
| Exhibit K | Form of Substitute Affiliate Holder Designation Notice |
| Exhibit L-1 | Form of U.S. Tax Compliance Certificate (For Foreign Holders That Are Not Partnerships For U.S. Federal Income Tax Purposes) |
| Exhibit L-2 | Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) |
| Exhibit L-3 | Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) |
| Exhibit L-4 | Form of U.S. Tax Compliance Certificate (For Foreign Holders That Are Partnerships For U.S. Federal Income Tax Purposes) |
| Exhibit M | Form of Solvency Certificate |
| Exhibit N | Form of Pari First Lien Intercreditor Agreement |
| Exhibit O | Form of First Lien/Second Lien Intercreditor Agreement |

---

-v-

------

<u>NOTE PURCHASE AGREEMENT</u> 

NOTE PURCHASE AGREEMENT, dated as of November 4, 2024 (this "**Agreement**"), by and among RBP Global Holdings Limited, a limited company organized under the laws of England and Wales ("**RBP Global**" or the "**Issuer**"), Holdings, the other Persons from time to time party hereto as Notes Parties, Piper Sandler Finance LLC in its capacities as an administrative agent and collateral agent for the Holders (in its capacities as administrative and collateral agent, the "**Administrative Agent**"), and the Purchasers identified on Schedule 1.01(a) hereto.

The Issuer has requested to issue and sell certain Notes to each of the Purchasers as set forth herein and the Purchasers are willing to purchase such Notes from the Issuer on the terms and subject to the conditions set forth herein. Accordingly, the parties hereto agree as follows:

ARTICLE 1

DEFINITIONS

Section 1.01 <u>Defined Terms</u>. As used in this Agreement, the following terms have the meanings specified below:

"**ABR**", when used in reference to any Note or Borrowing, refers to whether such Note, or the Notes comprising such Borrowing, bear interest at a rate determined by reference to the Alternate Base Rate.

"**ABR Term SOFR Determination Day**" has the meaning assigned to such term in the definition of "Term SOFR".

"**ACH**" means automated clearing house transfers.

"**Additional Agreement**" has the meaning assigned to such term in <u>Article 8</u>.

"**Additional Note Commitments**" means the Additional Term Note Commitments and the Additional Variable Note Commitments.

"**Additional Notes**" means the Additional Variable Notes and the Additional Term Notes.

"**Additional Purchaser**" has the meaning assigned to such term in <u>Section</u> <u>2.22(b)</u>.

"**Additional Term Note Commitments**" means any term note commitment added pursuant to <u>Section</u> <u>2.22</u>, <u>2.23</u> or <u>9.02(c)(i)</u>.

"**Additional Term Notes**" means any term note made pursuant to <u>Section</u> <u>2.22</u>, <u>2.23</u> or <u>9.02(c)(i)</u>.

"**Additional Variable Note Commitments**" means any variable note commitment added pursuant to <u>Section</u> <u>2.22</u>, <u>2.23</u> or <u>9.02(c)(ii)</u>.

"**Additional Variable Notes**" means any Variable Note made hereunder pursuant to <u>Section</u> <u>2.22</u>, <u>2.23</u> or <u>9.02(c)(ii)</u>.

"**Adjusted Term SOFR**" means, for purposes of any calculation, the rate per annum equal to (a) Term SOFR for such calculation plus (b) the Term SOFR Adjustment.

------

"**Adjustment Date**" means the first Business Day immediately following the date of delivery of financial statements required to be delivered pursuant to <u>Section</u> <u>5.01(a)</u> or <u>Section</u> <u>5.01(b)</u>, as applicable.

"**Administrative Agent**" has the meaning assigned to such term in the preamble to this Agreement.

"**Administrative Questionnaire**" means an Administrative Questionnaire in a form supplied by the Administrative Agent from time to time.

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

"**Affiliate**" means, as applied to any Person, any other Person directly or indirectly Controlling, Controlled by, or under common Control with, that Person. None of the Administrative Agent, any Holder (other than any Affiliated Holder) or any of their respective Affiliates shall be considered an Affiliate of Holdings or any subsidiary thereof.

"**Affiliated Holder**" means any of Holdings, the Issuer and/or any subsidiary of Holdings.

"**Affiliated Holder Assignment and Assumption**" means an assignment and assumption entered into by a Holder and an Affiliated Holder (with the consent of any party whose consent is required by <u>Section</u> <u>9.05</u>) and accepted by the Administrative Agent in the form of <u>Exhibit</u> <u>A-2</u> or any other form approved by the Administrative Agent and the Issuer.

"**Agent Fee Letter**" means that certain Agent Fee Letter, dated as of the Closing Date, by and among the Issuer and the Administrative Agent.

"**Agent Parties**" has the meaning assigned to such term in <u>Section</u> <u>9.01(d)</u>.

"**Aggregate Cap**" means the aggregate amount of all amounts added back, adjusted and/or not deducted pursuant to the Aggregate Cap Adjustments, shall not exceed 25% of Consolidated Adjusted EBITDA (calculated prior to giving effect to any such Aggregate Cap Adjustments) in the aggregate for any test period.

"**Aggregate Cap Adjustments**" means clauses (b)(x)(B), (b)(xi), (b)(xv), (b)(xix)(B) and (b)(xx) of the definition of "Consolidated Adjusted EBITDA".

"**Aggregate Variable Note Exposure**" means, at any time, the aggregate amount of the Holders' Variable Note Exposures at such time.

"**Agreed Guarantee and Security Principles**" means the Agreed Guarantee and Security Principles set forth on <u>Schedule 1.01(c)</u>.

"**Agreement**" has the meaning assigned to such term in the preamble to this Agreement.

------

"**Agreement Currency**" has the meaning assigned to such in <u>Section</u> <u>9.22</u>.

"**AHYDO Interest Payment**": as defined in <u>Section</u> <u>2.25</u>.

"**Alternate Base Rate**" means, for any day, with respect to Notes denominated in Dollars, a rate per annum equal to the highest of (a) the Federal Funds Effective Rate in effect on such day (<u>provided</u> that if the Federal Funds Effective Rate in effect shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement) *plus* 0.50%, (b) to the extent ascertainable, Adjusted Term SOFR (which rate shall be calculated based upon an Interest Period of one month and shall be determined on a daily basis) *plus* 1.00%, (c) the Prime Rate and (d) the Floor *plus* 1.00%. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or Adjusted Term SOFR, as the case may be, shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or Adjusted Term SOFR, as the case may be.

"**Alternative Currency**" shall mean (i) Sterling, and (ii) each other currency (other than Dollars) that is approved in accordance with <u>Section</u> <u>1.08</u>.

"**Alternative Currency Equivalent**" shall mean, at any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the Administrative Agent at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency in Dollars.

"**Alternative Currency Sublimit**" shall mean (i) with respect to Sterling, $25,000,000 and (ii) with respect to any other Alternative Currency, an amount determined by the Administrative Agent as the time such Alternative Currency is approved in accordance with <u>Section</u> <u>1.08</u>.

"**Applicable Percentage**" means, (a) with respect to any Term Holder for any Class, a percentage equal to a fraction the numerator of which is the aggregate outstanding principal amount of the Notes and unused Additional Note Commitments of such Term Holder for such Class and the denominator of which is the aggregate outstanding principal amount of the Notes and unused Commitments of all Term Holders for such Class and (b) with respect to any Variable Note Holder for any Class, the percentage of the Total Variable Note Commitment for such Class represented by such Holder's Variable Note Commitment for such Class; <u>provided</u> that for purposes of <u>Section</u> <u>2.21</u> and otherwise herein, when there is a Defaulting Holder, any such Defaulting Holder's Variable Note Commitment shall be disregarded in the relevant calculations. In the case of <u>clause (b)</u>, in the event the Variable Note Commitments for any Class shall have expired or been terminated, the Applicable Percentages of any Variable Note Holder of such Class shall be determined on the basis of the Variable Note Exposure of the applicable Variable Note Holders of such Class, giving effect to any assignments and to any Variable Note Holder's status as a Defaulting Holder at the time of determination.

"**Applicable Price**" has the meaning assigned to such term in the definition of "Dutch Auction".

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"**Applicable Rate**" means, for any day, with respect to any Note, the rate per annum set forth below under the caption "ABR Spread" or "Adjusted Term SOFR Spread", as the case may be, based upon the Total Leverage Ratio as of the last day of the most recently ended Test Period; <u>provided</u> that until the first Adjustment Date following the Closing Date, the "Applicable Rate" shall be the applicable rate per annum set forth below in <u>Category 1</u>:

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| | | | |
|:---|:---|:---|:---|
| **Category** | **Total Leverage Ratio** | **ABR Spread<br>for Notes** | **Adjusted Term<br>SOFR Spread for<br>Notes** |
| 1 | Greater than or equal to 0.50 to 1.00 | 4.25% | 5.25% |
| 2 | Less than 0.50 to 1.00 | 4.00% | 5.00% |

---

The Applicable Rate shall be adjusted quarterly on a prospective basis on each Adjustment Date based upon the Total Leverage Ratio in accordance with the tables above; <u>provided</u> that (x) if financial statements are not delivered when required pursuant to <u>Section</u> <u>5.01(a)</u> or <u>(b)</u>, as applicable, the "Applicable Rate" shall be the rate per annum set forth above in <u>Category 1</u> until such financial statements are delivered in compliance with <u>Section</u> <u>5.01(a)</u> or <u>(b)</u>, as applicable and (y) if an Event of Default has occurred and is continuing, the "Applicable Rate" shall be the rate per annum set forth in <u>Category 1</u> until such Event of Default is waived or cured in accordance with this Agreement.

In the event that any financial statement delivered pursuant to <u>Section</u> <u>5.01(a)</u> or <u>(b)</u>, as applicable, is inaccurate, and such inaccuracy, if corrected, would have led to the imposition of a higher Applicable Rate for any period than the Applicable Rate applied for that period, then (A) the Issuer shall immediately deliver to the Administrative Agent a corrected financial statement for that period (the "**Corrected Financials Date**"), (B) the Applicable Rate shall be determined based on the corrected Total Leverage Ratio for that period, and (C) the Issuer shall promptly and in any event within five (5) Business Days (or such later date as may be reasonably agreed by the Administrative Agent) pay to the Administrative Agent (for the account of the Holders that hold the Notes at the time such payment is received, regardless of whether those Holders held the Notes during the relevant period) the accrued additional interest owing as a result of such increased Applicable Rate for that period; provided that, for the avoidance of doubt, such deficiency shall be due and payable in accordance with the foregoing clause (C) (or such later date as may be reasonably agreed by the Administrative Agent), and no Default or Event of Default under <u>Section</u> <u>7.01(a)</u> shall be deemed to have occurred with respect to such deficiency prior to such date. This paragraph shall not limit the rights of the Administrative Agent or the Holders with respect to <u>Section</u> <u>2.13(d)</u> and <u>Article VII</u> hereof.

"**Applicable Reporting Company**" shall mean, (i) with respect to any period ending prior to the First Amendment Effective Date, Indivior PLC, and (ii) with respect to any period ending on or after the First Amendment Effective Date, TopCo.

"**Applicable Time**" shall mean, with respect to any borrowings and payments in any Alternative Currency, the local time in the place of settlement for such Alternative Currency as may be determined by the Administrative Agent to be necessary for timely settlement on the relevant date in accordance with normal banking procedures in the place of payment.

"**Approved Fund**" means, with respect to any Holder, any Person (other than a natural person) that is engaged in making, purchasing, holding or otherwise investing in commercial loans. notes and similar extensions of credit in the ordinary course of its activities and is administered, advised or managed by (a) such Holder, (b) any Affiliate of such Holder or (c) any entity or any Affiliate of any entity that administers, advises or manages such Holder.

"**Assignment and Assumption**" means an assignment and assumption entered into by a Holder and an Eligible Assignee (with the consent of any party whose consent is required by <u>Section</u> <u>9.05</u>), and accepted by the Administrative Agent in the form of <u>Exhibit</u> <u>A-1</u> or any other form approved by the Administrative Agent.

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"**Auction**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Auction Agent**" means (a) the Administrative Agent or any of its Affiliates or (b) any other financial institution or advisor engaged by the Issuer (whether or not an Affiliate of the Administrative Agent) to act as an arranger in connection with any Auction pursuant to the definition of "Dutch Auction"; *provided* that no Issuer shall 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 no Issuer, nor any of its Affiliates, may act as the Auction Agent.

"**Auction Amount**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Auction Notice**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Auction Party**" has the meaning set forth in the definition of "Dutch Auction".

"**Auction Response Date**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Availability Period**" means, with respect to any Class of Variable Note Commitments, the period from and excluding the date on which such Variable Note Commitments become effective to but excluding the earliest of (a) the date of termination of such Variable Note Commitments pursuant to <u>Section</u> <u>2.09</u>, (b) the date of termination of the Variable Note Commitment of each Variable Note Holder to make Variable Notes and (c) the Variable Note Maturity Date.

"**Available Amount**" means, at any time, an amount equal to, without duplication:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 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;(i) $37,500,000; *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;(ii) the Cumulative Retained Excess Cash Flow Amount on such date; *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;(iii) the amount of any capital contributions or other proceeds of any issuance of Capital Stock after the Closing Date (other than any amounts (x) constituting an Available Excluded Contribution Amount or an Excluded Debt Contribution or proceeds of an issuance of Disqualified Capital Stock, (y) received from the Issuer or any Restricted Subsidiary or (z) incurred from the proceeds of any loan or advance made pursuant to <u>Section</u> <u>6.06(h)(ii)</u>) received as Cash equity by the Issuer or any of their Restricted Subsidiaries, *plus* the fair market value, as reasonably determined by the Issuer, of Cash Equivalents, marketable securities or other property received by the Issuer or any Restricted Subsidiary as a capital contribution or in return for any issuance of Capital Stock (other than any amounts (x) constituting an Available Excluded Contribution Amount or an Excluded Debt Contribution or proceeds of any issuance of Disqualified Capital Stock or (y) received from the Issuer or any Restricted Subsidiary), in each case, during the period from and including the day immediately following the Closing Date through and including such time; *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;(iv) the aggregate principal amount of any Indebtedness (including any Disqualified Capital Stock) of the Issuer or any Restricted Subsidiary issued after the Closing Date (other than Indebtedness or such Disqualified Capital Stock issued to the Issuer or any Restricted Subsidiary), which has been converted into or exchanged for Capital Stock of the Issuer, any Restricted Subsidiary or any Parent Company that does not constitute Disqualified Capital Stock or an Available Excluded Contribution Amount, together with the fair market value of any Cash Equivalents and the fair market value (as reasonably determined by the Issuer) of any property or assets received by such Issuer or such Restricted Subsidiary upon such exchange or conversion, in each case, during the period from and including the day immediately following the Closing Date through and including such time; *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;(v) to the extent not included in <u>clause (ii)</u> above, the net proceeds received by the Issuer or any Restricted Subsidiary during the period from and including the day immediately following the Closing Date through and including such time in connection with the Disposition to any Person (other than the Issuer or any Restricted Subsidiary) of any Investment made pursuant to <u>Section</u> <u>6.06(r)(i)</u> (in an amount not to exceed the original amount of such Investment); *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;(vi) to the extent not (A) included in <u>clause (ii)</u> above or (B) already reflected as a return of capital with respect to such Investment for purposes of determining the amount of such Investment, the proceeds received by the Issuer or any Restricted Subsidiary during the period from and including the day immediately following the Closing Date through and including such time in connection with cash returns, cash profits, cash distributions and similar cash amounts, including cash principal repayments of loans, in each case received in respect of any Investment made after the Closing Date pursuant to <u>Section</u> <u>6.06(r)(i)</u> (in an amount not to exceed the original amount of such Investment); *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;(vii) an amount equal to the sum of (A) the amount of any Investments by the Issuer or any Restricted Subsidiary pursuant to <u>Section</u> <u>6.06(r)(i)</u> in any Unrestricted Subsidiary (in an amount not to exceed the original amount of such Investment) that has been redesignated as a Restricted Subsidiary or has been merged, consolidated or amalgamated with or into, or is liquidated, wound up or dissolved into, the Issuer or any Restricted Subsidiary and (B) the fair market value (as reasonably determined by the Issuer) of the property or assets of any Unrestricted Subsidiary that have been transferred, conveyed or otherwise distributed (in an amount not to exceed the original amount of the Investment in such Unrestricted Subsidiary pursuant to <u>Section</u> <u>6.06(r)(i)</u>) to the Issuer or any Restricted Subsidiary, in each case, during the period from and including the day immediately following the Closing Date through and including such time; 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;(viii) the amount of any Declined Proceeds; *minus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) an amount equal to the sum of (i) Restricted Payments made pursuant to <u>Section</u> <u>6.04(a)(iii)(A)</u>, *plus* (ii) Restricted Debt Payments made pursuant to <u>Section</u> <u>6.04(b)(vi)(A)</u>, *plus* (iii) Investments made pursuant to <u>Section</u> <u>6.06(r)(i)</u>, in each case, after the Closing Date and prior to such time, or contemporaneously therewith.

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"**Available Excluded Contribution Amount**" means the aggregate amount of Cash or Cash Equivalents or the fair market value of other assets or property (as reasonably determined by the Issuer) received by the Issuer or any Restricted Subsidiary after the Closing Date from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) contributions in respect of Qualified Capital Stock (other than any amounts received from the Issuer or any Restricted Subsidiary), and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the sale of Qualified Capital Stock of the Issuer or any Restricted Subsidiary (other than (x) to the Issuer or any Restricted Subsidiary, (y) pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or (z) with the proceeds of any loan or advance made pursuant to <u>Section</u> <u>6.06(h)(ii)</u>),

in each case, designated as Available Excluded Contribution Amounts pursuant to a certificate of a Responsible Officer on or promptly after the date the relevant capital contribution is made or the relevant proceeds are received, as the case may be, and which are excluded from the calculation of the Available Amount.

"**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).

"**Banking Services**" means each and any of the following bank services provided to any Note Party (a) under any arrangement that is in effect on the Closing Date between any Note Party and a counterparty that is (or is an Affiliate of) the Administrative Agent, any Holder as of the Closing Date or (b) under any arrangement that is entered into after the Closing Date by any Note Party with any counterparty that is (or is an Affiliate of) the Administrative Agent, any Holder at the time such arrangement is entered into: commercial credit cards, stored value cards, purchasing cards, treasury management services, netting services, overdraft protections, check drawing services, automated payment services (including depository, overdraft, controlled disbursement, ACH transactions, return items and interstate depository network services), employee credit card programs, cash pooling services and any arrangements or services similar to any of the foregoing and/or otherwise in connection with Cash management and Deposit Accounts.

"**Banking Services Obligations**" means any and all obligations of any Note Party, whether absolute or contingent and however and whenever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), in connection with Banking Services, in each case, that has been designated to the Administrative Agent in writing by the Issuer as being Banking Services Obligations for the purposes of the Notes Documents, it being understood that each counterparty thereto shall be deemed (A) to appoint the Administrative Agent as its agent under the applicable Notes Documents and (B) to agree to be bound by the provisions of <u>Article 8</u>, <u>Section</u> <u>9.03</u> and <u>Section</u> <u>9.10</u> as if it were a Holder.

"**Bankruptcy Code**" means Title 11 of the United States Code (11 U.S.C. § 101 *et seq*.).

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"**Beneficial Ownership Certification**" means a certification regarding beneficial ownership as 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 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".

"**Board**" means the Board of Governors of the Federal Reserve System of the U.S.

"**Bona Fide Debt Fund**" means any debt fund, investment vehicle, regulated bank entity or unregulated lending entity that is engaged in making, purchasing, holding or otherwise investing in commercial loans, notes and similar extensions of credit in the ordinary course of business which is managed, sponsored or advised by any Person controlling, controlled by or under common control with (a) any competitor of the Issuer and/or any of its subsidiaries or (b) any Affiliate of such competitor, but with respect to which no personnel involved with any investment in such Person (i) makes, has the right to make or participates with others in making any investment decisions with respect to such debt fund, investment vehicle, regulated bank entity or unregulated lending entity or (ii) has access to any information (other than information that is publicly available) relating to Holdings, the Issuer or their respective subsidiaries, any Parent Company, or any entity that forms a part of any of their respective businesses; it being understood and agreed that the term "Bona Fide Debt Fund" shall not include any Person that is separately identified to the Administrative Agent in accordance with <u>clause (i)</u> of the definition of "Disqualified Institution" or any Affiliate of any such Person that is reasonably identifiable on the basis of such Affiliate's name.

"**Issuer Materials**" shall have the meaning assigned to such term in <u>Section</u> <u>5.01</u>.

"**Borrowing**" means any Notes of the same currency, Type and Class made, converted or continued on the same date and, in the case of SOFR Notes, as to which a single Interest Period is in effect.

"**Borrowing Minimum**" shall mean (i) in the case of Variable Notes denominated in Dollars, $1,000,000, or (ii) in the case of a Variable Note denominated in an Alternative Currency, such minimums as the Administrative Agent shall reasonably require.

"**Borrowing Multiple**" shall mean (i) in the case of Variable Notes denominated in Dollars, $100,000, or (ii) in the case of a Variable Note denominated in an Alternative Currency, such multiple as the Administrative Agent shall reasonably require**.**

"**Borrowing Request**" means a written request by the Issuer for a Borrowing in accordance with <u>Section</u> <u>2.03</u> and substantially in the form attached hereto as <u>Exhibit</u> <u>B</u>.

"**Business Day**" means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City, New York or London, England are authorized or required by law to remain closed; <u>provided</u> that when used in connection with any Borrowing denominated in an Alternative Currency, the term "Business Day" shall also exclude any day on which banks are not open for dealings in Dollar deposits in the principal financial center of the country, if any, of such Alternative Currency.

"**Capital Lease**" means any lease or hire purchase contract, a liability under which would, in accordance with GAAP, be treated as a balance sheet liability (other than a lease or hire purchase contract which would, in accordance with IFRS in force prior to January 1, 2019, have been treated as an operating lease).

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"**Capital Stock**" means any and all shares, interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation), including 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, but excluding, for the avoidance of doubt, any Indebtedness convertible into or exchangeable for any of the foregoing.

"**Cash**" means money, currency or a credit balance in any Deposit Account, in each case determined in accordance with GAAP.

"**Cash Equivalents**" means, as at any date of determination, (a) readily marketable securities (i) issued or directly and unconditionally guaranteed or insured as to interest and principal by the U.S. government or (ii) issued by any agency or instrumentality of the U.S. the obligations of which are backed by the full faith and credit of the U.S., in each case maturing within one year after such date and, in each case, repurchase agreements and reverse repurchase agreements relating thereto; (b) readily marketable direct obligations issued by any state of the U.S. or any political subdivision of any such state or any public instrumentality thereof, in each case maturing within one year after such date and having, at the time of the acquisition thereof, a rating of at least A-2 from S&P or at least P-2 from Moody's (or, if at any time neither S&P nor Moody's shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency) and, in each case, repurchase agreements and reverse repurchase agreements relating thereto; (c) commercial paper maturing no more than one year from the date of creation thereof and having, at the time of the acquisition thereof, a rating of at least A-2 from S&P or at least P-2 from Moody's (or, if at any time neither S&P nor Moody's shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency); (d) deposits, money market deposits, time deposit accounts, certificates of deposit or bankers' acceptances (or similar instruments) maturing within one year after such date and issued or accepted by any Holder or by any bank organized under, or authorized to operate as a bank under, the laws of the U.S., any state thereof or the District of Columbia or any political subdivision thereof and that has capital and surplus of not less than $100,000,000 and, in each case, repurchase agreements and reverse repurchase agreements relating thereto; and (e) shares of any money market mutual fund that has (i) substantially all of its assets invested in the types of investments referred to in <u>clauses (a)</u> through <u>(d)</u> above, (ii) net assets of not less than $250,000,000 and (iii) a rating of at least A-2 from S&P or at least P-2 from Moody's.

In the case of any Investment by any Foreign Subsidiary, "Cash Equivalents" shall also include (x) Investments of the type and maturity described in <u>clauses (a)</u> through <u>(e)</u> above of foreign obligors, which Investments or obligors (or the parent companies thereof) have the ratings described in such clauses or equivalent ratings from comparable foreign rating agencies and (y) other short-term Investments utilized by Foreign Subsidiaries in accordance with normal investment practices for cash management in Investments analogous to the Investments described in <u>clauses (a)</u> through <u>(e)</u> and in this paragraph.

"**Change in Law**" means (a) the adoption of any law, treaty, rule or regulation after the Closing Date, (b) any change in any law, treaty, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the Closing Date or (c) compliance by any Holder (or, for purposes of <u>Section</u> <u>2.15(b)</u>, by any lending office of such Holder or by such Holder's holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the Closing Date (other than any such request, guideline or directive to comply with any law, rule or regulation that was in effect on the Closing Date). For purposes of this definition and <u>Section</u> <u>2.15</u>, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all

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requests, rules, guidelines, requirements and directives thereunder or issued in connection therewith or in implementation thereof and (y) all requests, rules, guidelines, requirements or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or U.S. regulatory authorities, in each case pursuant to Basel III, shall in each case described in <u>clauses (a)</u>, <u>(b)</u> and <u>(c)</u> above, be deemed to be a Change in Law, regardless of the date enacted, adopted, issued or implemented.

"**Change of Control**" means the earliest to occur of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the acquisition by any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act), including any group acting for the purpose of acquiring, holding or disposing of Securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act, but excluding any employee benefit plan and/or Person acting as the trustee, agent or other fiduciary or administrator therefor), of Capital Stock representing more than 35% of the total voting power of all of the outstanding voting stock of TopCo;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) occupation of a majority of the seats (other than vacant seats) on the board of directors of TopCo by persons who (i) were not members of the board of directors of TopCo on the First Amendment Effective Date and (ii) whose election to the board of directors of TopCo or whose nomination for election by the stockholders of TopCo was not approved by a majority of the members of the board of directors of TopCo then still in office who were either members of the board of directors on the First Amendment Effective Date or whose election or nomination for election was previously so approved;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Issuer ceasing to be a direct or indirect Wholly-Owned Subsidiary of TopCo; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any "Change of Control" (or any comparable term) in any document or instrument pertaining to any Indebtedness in excess of the Threshold Amount.

"**Charge**" means any charge, fee, expense, cost, accrual or reserve of any kind.

"**Charged Amounts**" has the meaning assigned to such term in <u>Section</u> <u>9.19</u>.

"**Class**", when used in reference to any Note, Borrowing or Commitment, refers to whether such Note, or the Notes comprising such Borrowing, are Initial Term Notes or other Variable Notes or respective Commitments related thereto or other notes or commitments added as a separate Class pursuant to <u>Section</u> <u>2.22</u>, <u>2.23</u> or <u>9.02(c)</u>.

"**Closing Date**" means November 4, 2024.

"**Code**" means the Internal Revenue Code of 1986, as amended.

"**Collateral**" means any and all property of any Note Party subject (or purported to be subject) to a Lien under any Collateral Document and any and all other property of any Note Party, now existing or hereafter acquired, that is or becomes subject (or purported to be subject) to a Lien pursuant to any Collateral Document to secure the Secured Obligations.

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"**Collateral and Guarantee Requirement**" means, at any time, subject to (x) the applicable limitations set forth in this Agreement and/or any other Notes Document and (y) the time periods (and extensions thereof) set forth in <u>Section</u> <u>5.12</u>, the requirement that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Administrative Agent shall have received:

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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;(ii) (A) in the case of any Person incorporated or organized in the U.S. or otherwise party to the U.S. Security Agreement, each item of Collateral that such Restricted Subsidiary (and each Note Party that holds any Capital Stock in, or Material Debt Instruments issued by, such Restricted Subsidiary, as applicable) is required to deliver under Section 2.02 of the U.S. Security Agreement; (B) in the case of a Person not incorporated or organized in the U.S., evidence that all outstanding Capital Stock of such Person, and all Material Debt Instruments issued by such Person, shall have been pledged pursuant to the Collateral Documents, together with stock powers or other instruments of transfer with respect thereto (as applicable) endorsed in blank (which, in each case, for the avoidance of doubt, shall be delivered within the time periods set forth in Section 5.12(a)); and (C) in the case of any Lux Note Party, a manager's certificate dated as of the date of the relevant joinder to the Note Guaranty and signed by a manager of the Lux Note Party, certifying the following items: (i) an up-to-date copy of the articles of association of the Lux Note Party; (ii) an electronic true and complete certified excerpt of the Luxembourg Companies Register pertaining to the Lux Note Party dated as of one (1) Business Day prior to such date; (iii) an electronic certified true and complete certificate of non-registration of judgment (*certificat de non-inscription d'une décision judiciaire*) dated as of one (1) Business Day prior to such date issued by the Luxembourg Companies Register and reflecting the situation no more than two Business Days prior to such date certifying that, as of the date of the day immediately preceding such certificate, the Lux Note Party has not been declared bankrupt (*en faillite*), and that it has not applied for general settlement or composition with creditors (*concordat préventif de faillite*), controlled management (*gestion contrôlée*), or reprieve from payment (*sursis de paiement*), judicial or voluntary liquidation (*liquidation judiciaire ou volontaire*), such other proceedings listed at Article 13, items 4 to 8, 11 and 13 of the Luxembourg Act dated December 19, 2002 on the Register of Commerce and Companies, on Accounting and on Annual Accounts of the Companies (as amended from time to time), (and which include foreign court decisions as to *faillite, concordat* or analogous procedures according to the COMI Regulation), (iv) true, complete and up-to-date board resolutions approving the entry by the Lux Note Party into, among others, the relevant Notes Documents; and (v) a true and complete specimen of signatures for each of the directors or authorized signatories having executed for and on behalf of such Lux Note Party respectively the Notes Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Administrative Agent shall have received with respect to any Material Real Estate Assets, a Mortgage and any necessary UCC fixture filing (or any equivalent thereof in any applicable jurisdiction) in respect thereof, in each case together with, to the extent customary and appropriate (as reasonably determined by the Administrative Agent and the Issuer):

&nbsp;&nbsp;&nbsp;&nbsp;&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) evidence that (A) counterparts of such Mortgage have been duly executed, acknowledged and delivered and such Mortgage and any corresponding UCC or equivalent fixture filing are in form suitable for filing or recording in all filing or recording offices that the Administrative Agent may deem reasonably necessary in order to create a valid and subsisting Lien on such Material Real Estate Asset in favor of the Administrative Agent for the benefit of the Secured Parties, (B) such Mortgage and any corresponding UCC or equivalent fixture filings have been duly recorded or filed, as applicable, and (C) all filing and recording taxes and fees have been paid or otherwise provided for in a manner 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;(ii) one or more fully paid policies of title insurance (the "**Mortgage Policies**") in an amount reasonably acceptable to the Administrative Agent (not to exceed the fair market value of the Material Real Estate Asset covered thereby (as reasonably determined by the Issuer)) issued by a nationally recognized title insurance company in the applicable jurisdiction that is reasonably acceptable to the Administrative Agent, insuring the relevant Mortgage as having created a valid subsisting Lien on the real property described therein with the ranking or the priority which it is expressed to have in such Mortgage, subject only to Permitted Liens, together with such endorsements, coinsurance and reinsurance as the Administrative Agent may reasonably request to the extent the same are available in the applicable jurisdiction;

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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;(iii) customary legal opinions of local counsel for the relevant Note Party in the jurisdiction in which such Material Real Estate Asset is located, and if applicable, in the jurisdiction of formation of the relevant Note Party, in each case as the Administrative Agent 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;&nbsp;&nbsp;&nbsp;&nbsp;(iv) surveys and appraisals (if required under the Financial Institutions Reform Recovery and Enforcement Act of 1989, as amended) and "Life-of-Note" (or equivalent "Life-of-Loan") flood certifications and any required borrower or issuer notices under Regulation H (together with evidence of federal flood insurance for any such Flood Hazard Property located in a flood hazard area); <u>provided</u> that the Administrative Agent may in its reasonable discretion accept any such existing survey so long as such existing survey is satisfactory to the title insurance company and enables it to remove the standard survey exception from the applicable Mortgage Policies and provide customary survey and other endorsements as required by clause (ii) 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;(v) such other evidence that all other actions that the Administrative Agent may reasonably request and deem necessary in order to create a valid and subsisting Lien on such Material Real Estate Assets have been taken;

<u>provided</u> that, notwithstanding the foregoing, with respect to any Person not incorporated or organized in the U.S. or the United Kingdom, the requirements of this definition shall be subject to the Agreed Guarantee and Security Principles.

"**Collateral Documents**" means, collectively, (i) the U.S. Security Agreement, (ii) the English Security Documents, (iii) the Lux Security Documents (if any), (iv) each Mortgage, (v) each Notice of Grant of Security Interest in Intellectual Property, (vi) any supplement (or other document or instrument) to any of the foregoing delivered to the Administrative Agent pursuant to the definition of "Collateral and Guarantee Requirement", (vii) the Perfection Certificate (including any Perfection Certificate delivered to the Administrative Agent pursuant to the definition of "Collateral and Guarantee Requirement") and any Perfection Certificate Supplement (including any Perfection Certificate Supplement delivered to the Administrative Agent pursuant to the definition of "Collateral and Guarantee Requirement") and (viii) each of the other instruments and documents (including the Irish Security Documents and, if any, the Jersey Security Documents) pursuant to which Holdings or any Note Party grants a Lien on any Collateral as security for payment of the Secured Obligations.

"**COMI Regulation**" means Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast).

"**Commercial Tort Claim**" has the meaning set forth in Article 9 of the UCC.

"**Commitment**" means, with respect to each Holder, at any time, such Holder's Initial Term Note Commitment, Variable Note Commitment and/or Additional Note Commitment, as applicable, in effect as of such time.

"**Commitment Schedule**" means the Schedule attached hereto as <u>Schedule 1.01(a)</u>.

"**Commodity Exchange Act**" means the Commodity Exchange Act (7 U.S.C. § 1 *et seq*.).

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"**Company Competitor**" means any competitor of the Issuer and/or any of its subsidiaries.

"**Compliance Certificate**" means a Compliance Certificate substantially in the form of <u>Exhibit</u> <u>C</u>.

"**Confidential Information**" has the meaning assigned to such term in <u>Section</u> <u>9.13</u>.

"**Connection Income Taxes**" means Other Connection Taxes that are imposed on or measured by net income, profits or gains (however denominated) or that are franchise Taxes or branch profits Taxes.

"**Consolidated Adjusted EBITDA**" means, as to any Person for any period, an amount determined for such Person on a consolidated basis equal to the total of (a) Consolidated Net Income for such period *plus* (b) the sum, without duplication, of (to the extent deducted in calculating Consolidated Net Income for such period, other than in respect of <u>clauses (b)(xix)</u>, <u>(b)(xxi)</u> and <u>(b)(xxiii)</u> below) the amounts 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;(i) Taxes paid (including, without duplication, tax payments made pursuant to Tax Sharing Agreements with Affiliates to the extent permitted by Section 6.04, and any Permitted Tax Distributions) and provisions for Taxes of such Person and its subsidiaries, including domestic, foreign state, franchise, excise and similar Taxes and foreign withholding Taxes paid or accrued during such period, and including, in each case, arising out of tax examinations relating to any of the foregoing deducted (and not added back) in computing Consolidated Net Income;

&nbsp;&nbsp;&nbsp;&nbsp;&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) interest expense, amortization or write-off of debt discount, debt issuance, warrant and other equity issuance costs and commissions, discounts, redemption premium and other fees and charges associated with the Notes, any Permitted Securitization Financing and other indebtedness permitted hereunder (including fees and expenses paid to the Administrative Agent in connection with its services hereunder, and other bank, administrative agency (or trustee) and financing fees), letters of credit permitted hereunder, Capital Leases or the acquisition or repayment of any debt securities of the Issuer or its subsidiaries permitted hereunder, and net costs associated with Hedge Agreements to which the Issuer is a party in respect of the Notes and/or other indebtedness permitted hereunder (including commitment fees and other periodic bank charges);

&nbsp;&nbsp;&nbsp;&nbsp;&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) costs of surety bonds (whether amortized or immediately expensed);

&nbsp;&nbsp;&nbsp;&nbsp;&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) depreciation and amortization expense (including, without limitation, amortization of goodwill, software and other intangible assets, but excluding amortization of prepaid cash expenses that were paid in a prior period unless such prepaid expenses were deducted (and not added back) in determining Consolidated Adjusted EBITDA in a prior 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;(v) amortization of inventory write-up, deferred revenue adjustment or other non-cash adjustments required under Statement of Financial Accounting Standards No. 141 – Business Combinations, amortization of intangibles (including, but not limited to, goodwill and costs of interest-rate caps and the cost of non-competition agreements) and organization costs including any non-cash charges associated with any impairment analysis required under Statement of Financial Accounting Standards No. 36 – Impairment of Assets and International Accounting Standards No. 38 – Intangible 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;&nbsp;&nbsp;&nbsp;&nbsp;(vi) non-cash amortization of Capital Leases;

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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;(vii) the amount of board of director fees and expenses (including out of pocket director fees and expenses) actually paid by or on behalf of, or accrued by, such Person to the extent permitted to be paid under 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;(viii) all cash dividend payments (and non-cash dividend expenses) on any series of preferred stock or Disqualified Capital 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;(ix) (A) Transaction Costs, and (B) transaction Charges (1) incurred in connection with the consummation of any transaction (or any transaction proposed and not consummated) permitted under this Agreement, including the issuance or offering of Capital Stock, Investments, acquisitions, Dispositions, recapitalizations, mergers, consolidations or amalgamations, option buyouts or incurrences, repayments, refinancings, amendments or modifications of Indebtedness (including any amortization or write-off of debt issuance or deferred financing costs, premiums and prepayment penalties) or similar transactions, and/or (2) that are actually reimbursed or reimbursable by third parties pursuant to indemnification or reimbursement provisions or similar agreements or insurance; <u>provided</u> that in respect of any fee, cost, expense or reserve that is added back in reliance on <u>clause (2)</u> above, such Person in good faith expects to receive reimbursement for such fee, cost, expense or reserve within the next four Fiscal Quarters (it being understood that to the extent any reimbursement amount is not actually received within such Fiscal Quarters, such reimbursement amount shall be deducted in calculating Consolidated Adjusted EBITDA for such Fiscal Quarters);

&nbsp;&nbsp;&nbsp;&nbsp;&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) (A) any other write-downs, write-offs, minority interests and other similar non-cash Charges and (B) subject to the Aggregate Cap, any non-cash restructuring or other type of non-cash special charge or reserve (provided that to the extent any such non-cash charge represents an accrual or reserve for potential cash items in any future period, (x) such Person may determine not to add back such non-cash charge in the then current period and (y) to the extent such Person elects to add back such non-cash charge, the cash payment in respect thereof in such future period shall be subtracted from Consolidated Adjusted EBITDA to such extent);

&nbsp;&nbsp;&nbsp;&nbsp;&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) subject to the Aggregate Cap, internal software development costs that are expensed during the period but could have been capitalized in accordance 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;(xii) non-recurring litigation or claim settlement Charges;

&nbsp;&nbsp;&nbsp;&nbsp;&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) non-cash compensation Charges associated with any stock options, restricted stock or other equity 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;(xiv) income associated with bill and hold arrangements required by GAAP to be deferred;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) any net after-tax extraordinary, nonrecurring or unusual gains or losses (including, without limitation, any costs relating to the sale of equipment or businesses, severance, relocation or other strategic initiative, restructuring, legal settlements, or pipeline acquisitions) and Charges related thereto, subject to the Aggregate Cap;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) [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;(xvii) [Reserved];

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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;(xviii) the amount of any minority interest expense consisting of subsidiary income attributable to minority Equity Interests of third parties in any non-Wholly-Owned Subsidiary deducted in calculating Consolidated Net Income;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xix) expected cost savings (including sourcing), operating expense reductions, operating cost improvements and cost synergies (net of actual amounts realized) that are reasonably identifiable and factually supportable (in the good faith determination of such Person, as certified by a chief financial officer, treasurer or equivalent officer of such Person) related to (A) the Transactions and (B) after the Closing Date, permitted asset sales, acquisitions, Investments, Dispositions, operating improvements, restructurings, cost saving initiatives and certain other similar initiatives and/or Specified Transaction, in each case, subject to the Aggregate Cap; provided that (x) any such cost savings, operating expense reductions, operating improvements and cost synergies are projected in good faith to be reasonably anticipated to be realized within 18 months of the applicable event to which they relate and (y) substantial steps have been taken or procedures are in place for realizing such cost savings, operating expense reductions, operating improvements and cost synergies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx) subject to the Aggregate Cap, Charges attributable to the undertaking and/or implementation of cost savings initiatives, operating expense reductions, transition, opening and pre-opening expenses, business optimization and other restructuring and integration Charges (including inventory optimization programs, software development costs, costs related to the closure or consolidation of facilities and plants, costs relating to curtailments, costs related to entry into new markets, strategic initiatives and contracts, consulting fees, signing or retention costs, retention or completion bonuses, expansion and relocation expenses, severance payments, modifications to pension and post-retirement employee benefit plans, new systems design and implementation costs and startup 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;&nbsp;&nbsp;&nbsp;&nbsp;(xxi) proceeds of business interruption insurance in an amount representing the earnings for the applicable period that such proceeds are intended to replace (whether or not then received so long as such Person in good faith expects to receive such proceeds within the next four Fiscal Quarters (it being understood that to the extent not actually received within such Fiscal Quarters, such proceeds shall be deducted in calculating Consolidated Adjusted EBITDA for such Fiscal Quarters));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxii) to the extent not added back in reliance on clause (ii) above, unrealized net losses in the fair market value of any arrangements under Hedge 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;(xxiii) the amount of Cash actually received (or the amount of the benefit of any netting arrangement resulting in reduced Cash expenditures) during such period, and not included in Consolidated Net Income in any period, to the extent that the related non-Cash gain in respect of such Cash receipt or such netting arrangement was deducted in the calculation of Consolidated Adjusted EBITDA pursuant to clause (c)(i) below for any previous period and not added back;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxiv) without duplication of clause (ii) above, the amount of loss or discount in connection with a Permitted Securitization Financing; 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;(xxv) other add-backs and adjustments reflected in the model delivered by the Issuer to the Administrative Agent on September 15, 2024 (excluding revenue synergies, if any);

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*minus* (c) to the extent such amounts increase Consolidated Net Income for such period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) non-cash gains or income; <u>provided</u> that to the extent any non-cash gain or income represents an accrual or deferred income in respect of potential Cash items in any future period, such Person may determine not to deduct such non-cash gain or income in the then current period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) unrealized net gains in the fair market value of any arrangements under Hedge Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the amount added back to Consolidated Adjusted EBITDA pursuant to <u>clause (b)(ix)(B)(2)</u> above (as described in such clause) to the extent the relevant reimbursement amounts were not received within the time period required by such clause;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the amount added back to Consolidated Adjusted EBITDA pursuant to <u>clause (b)(xxi)</u> above (as described in such clause) to the extent the relevant business interruption insurance proceeds were not received within the time period required by such clause; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) to the extent that such Person adds back the amount of any non-Cash charge to Consolidated Adjusted EBITDA pursuant to <u>clauses (b)(x)</u> above, the cash payment in respect thereof in the relevant future period.

Unless otherwise specified herein, Consolidated Adjusted EBITDA shall refer to Consolidated Adjusted EBITDA of Holdings and its Restricted Subsidiaries.

Notwithstanding anything to the contrary herein, it is agreed that for the purpose of calculating the Total Leverage Ratio and the First Lien Leverage Ratio for any period that includes the Fiscal Quarters ended September 30, 2024, June 30, 2024, March 31, 2024 or December 31, 2023, (i) Consolidated Adjusted EBITDA for the Fiscal Quarter ended September 30, 2024 shall be deemed to be $107,000,000, (ii) Consolidated Adjusted EBITDA for the Fiscal Quarter ended June 30, 2024 shall be deemed to be $91,000,000, (iii) Consolidated Adjusted EBITDA for the Fiscal Quarter ended March 31, 2024 shall be deemed to be $86,000,000 and (iv) Consolidated Adjusted EBITDA for the Fiscal Quarter ended December 31, 2023 shall be deemed to be $86,000,000; provided that for any subsequent four Fiscal Quarter period that includes any of the Fiscal Quarters described under <u>clauses (i)</u> <u>through (iv)</u> above, Consolidated Adjusted EBITDA shall include the applicable amounts set forth in the Aggregate Cap Addbacks, subject to the Aggregate Cap, and the Pro Forma Basis calculation shall be in accordance with the terms thereof.

"**Consolidated First Lien Debt**" means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a first priority Lien on any Collateral or by a Lien on any other asset or property of such Person or its Restricted Subsidiaries.

"**Consolidated Net Income**" means, as to any Person (the "**Subject Person**") for any period, the net income (or loss) of the Subject Person on a consolidated basis for such period taken as a single accounting period determined in accordance with GAAP; <u>provided</u> that there shall be excluded, without duplication,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (i) the income of (x) any Person (other than a Restricted Subsidiary of the Subject Person) in which any other Person (other than the Subject Person or any of its Restricted Subsidiaries) has an interest, (y) any Unrestricted Subsidiary or (z) any Person that is accounted for by the equity method of accounting, in each case except to the extent of the amount of dividends or distributions or other payments (including any ordinary course dividend, distribution or other payment) paid in cash (or to the extent converted into cash) to the Subject Person or any of its

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Restricted Subsidiaries by such Person during such period or (ii) the loss of (x) any Person (other than a Restricted Subsidiary of the Subject Person) in which any other Person (other than the Subject Person or any of its Restricted Subsidiaries) has an interest, (y) any Unrestricted Subsidiary or (z) any Person that is accounted for by the equity method of accounting, in each case other than to the extent that the Subject Person or any of its Restricted Subsidiaries has contributed cash or Cash Equivalents to such Person in respect of such loss during such period,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) solely for the purpose of determining the amount available under paragraph (a)(ii) of the definition of Available Amount, the net income of any Restricted Subsidiary (other than any Subsidiary Guarantor) to the extent the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of its net income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule, or governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such restriction with respect to the payment of dividends or similar distributions has been legally waived; <u>provided</u> that Consolidated Net Income of the Subject Person will be increased by the amount of dividends or other distributions or other payments actually paid by such Restricted Subsidiary in cash (or to the extent converted into cash) to such Subject Person or a Restricted Subsidiary (subject to the provisions of this clause (b)) thereof in respect of such period to the extent not already included therein,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) gains or losses (less all fees and expenses chargeable thereto) attributable to any sales or dispositions of Capital Stock or assets (including asset retirement costs) or of returned surplus assets of any employee benefit plan outside of the ordinary course of business,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) [reserved],

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any unrealized or realized net foreign currency translation or transaction gains or losses impacting net income (including currency re-measurements of Indebtedness),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any net gains, Charges or losses with respect to (i) any disposed, abandoned, divested and/or discontinued asset, property or operation (other than, at the option of the Issuer, any asset, property or operation pending the disposal, abandonment, divestiture and/or termination thereof), (ii) any disposal, abandonment, divestiture and/or discontinuation of any asset, property or operation and/or (iii) facilities or plants that have been closed during such period or with respect to such Charges and losses that were required to be recorded pursuant to GAAP,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) any net income or loss (less all fees and expenses or charges related thereto) attributable to the early extinguishment of Indebtedness (and the termination of any associated Hedge Agreements),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) (i) any Charges incurred pursuant to any management equity plan, profits interest or stock option plan or any other management or employee benefit plan or agreement, pension plan, any stock subscription or shareholder agreement or any distributor equity plan or agreement and (ii) any Charges in connection with the rollover, acceleration or payout of Capital Stock held by management of any Parent Company, the Issuer and/or any Restricted Subsidiary, in each case, to the extent that any such cash Charge is funded with net cash proceeds contributed to the Subject Person as a capital contribution or as a result of the sale or issuance of Qualified Capital Stock of the Subject Person, solely to the extent that such net cash proceeds are excluded from the calculation of the Available Amount,

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) accruals and reserves that are established or adjusted within 12 months after the Closing Date that are required to be established or adjusted as a result of the Transactions in accordance with GAAP or as a result of the adoption or modification of accounting policies in accordance with GAAP,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any (A) write-off or amortization made in such period of deferred financing costs and premiums paid or other expenses incurred directly in connection with any early extinguishment of Indebtedness, (B) goodwill or other asset impairment charges, write-offs or write-downs and (C) amortization of intangible assets; <u>provided</u> that in no event shall amortization of intangibles so excluded in any period of four consecutive Fiscal Quarters exceed 10% of Consolidated Net Income for such period (before giving effect to such exclusion), and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) (A) effects of adjustments (including the effects of such adjustments pushed down to the Subject Person and its subsidiaries) in the Subject Person's consolidated financial statements pursuant to GAAP (including in the inventory, property and equipment, software, goodwill, intangible assets, in-process research and development, deferred revenue, deferred rent, deferred trade incentives and other lease-related items, advanced billings and debt line items thereof) resulting from the application of recapitalization accounting or acquisition accounting, as the case may be, in relation to the Transactions or any consummated acquisition or the amortization or write-off of any amounts thereof, net of Taxes and (B) the cumulative effect of changes in accounting principles or policies made in such period in accordance with GAAP which affect Consolidated Net Income;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) non-cash compensation Charges associated with any stock options, restricted stock or other equity instruments, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Charges, transaction fees, costs and expenses, and premiums incurred (including, without limitation, financial advisory, accounting, auditor, legal and other consulting and advisory fees and any or other filing fees and expenses) in connection with the consummation of any transaction (or any other transaction proposed and not consummated) relating to the issuance of Equity Interests, Indebtedness, investments, acquisitions or dispositions, in each case, to the extent permitted under the this Agreement relating to or the incurrence, refinancing, amendment or modification of such permitted transactions.

Notwithstanding the foregoing, for the purpose of calculating the Available Amount only, there shall be excluded from Consolidated Net Income, without duplication, any income consisting of dividends, repayments of notes, loans or advances or other transfers of assets from non-wholly owned Restricted Subsidiaries, Unrestricted Subsidiaries or joint ventures to the Issuer or a Restricted Subsidiary, and any income consisting of a return of capital, repayment or other proceeds from dispositions or repayments of Investments, in each case to the extent such income would be included in Consolidated Net Income and such related dividends, repayments, transfers, return of capital or other proceeds are applied by the Note Parties to increase the Available Amount.

"**Consolidated Secured Debt**" means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a Lien on any asset or property of such Person or its Restricted Subsidiaries.

"**Consolidated Total Assets**" means, at any date, all amounts that would, in conformity with GAAP, be set forth opposite the caption "total assets" (or any like caption) on a consolidated balance sheet of the applicable Person at such date.

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"**Consolidated Total Debt**" means, as to any Person at any date of determination, the aggregate principal amount of all third party debt for borrowed money (including the outstanding principal balance of all Indebtedness of such Person represented by notes, bonds and similar instruments), Capital Leases, purchase money Indebtedness, obligations in respect of Disqualified Capital Stock, the amount of any Receivables Net Investment and Guarantee obligations with respect to any of the foregoing (but excluding, for the avoidance of doubt, undrawn letters of credit). Unless otherwise specified herein, "Consolidated Total Debt" shall refer to the Consolidated Total Debt of Holdings and its Restricted Subsidiaries.

"**Consolidated Working Capital**" means, as at any date of determination, the excess of Current Assets over Current Liabilities.

"**Consolidated Working Capital Adjustment**" means, for any period on a consolidated basis, the amount (which may be a negative number) by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital as of the end of such period; <u>provided</u> that there shall be excluded (a) the effect of reclassification during such period between current assets and long term assets and current liabilities and long term liabilities (with a corresponding restatement of the prior period to give effect to such reclassification), (b) the effect of any Disposition of any Person, facility or line of business or acquisition of any Person, facility or line of business during such period, (c) the effect of any fluctuations in the amount of accrued and contingent obligations under any Hedge Agreement, and (d) the application of purchase or recapitalization accounting.

"**Consummation Date**" has the meaning assigned to such term in <u>Section</u> <u>5.16</u>.

"**Contract Consideration**" has the meaning assigned to such term in the definition of "Excess Cash Flow".

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

"**Contribution Notice**" means a contribution notice issued by the Pensions Regulator under section 38 or section 47 of the Pensions Act 2004.

"**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.

"**Copyright**" means the following: (a) all copyrights, rights and interests in copyrights, works protectable by copyright whether published or unpublished, copyright registrations and copyright applications; (b) all renewals of any of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due and/or payable under any of the foregoing, including, without limitation, damages or payments for past or future infringements for any of the foregoing; (d) the right to sue for past, present, and future infringements of any of the foregoing; and (e) all rights corresponding to any of the foregoing.

"**Corporate Integrity Agreement**" means any corporate integrity agreement entered into from time to time between the Issuer or its Subsidiaries and any Governmental Authority, including among others the Office of Inspector General of the United States Department of Health and Human Services (the "**US DHHS**").

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"**CMS**" means the federal Centers for Medicare and Medicaid Services (formerly the federal Health Care Financing Administration), and any successor Governmental Authority.

"**CTA**" means the Corporation Tax Act 2009.

"**Cumulative Excess Cash Flow**" means the amount equal to the sum of Excess Cash Flow (but not less than zero for any Fiscal Year) for the Fiscal Year ending on December 31, 2025 and Excess Cash Flow (but not less than zero in any Fiscal Year) for each succeeding and completed fiscal year.

"**Cumulative Retained Excess Cash Flow Amount**" means, as at any date of determination, an amount determined on a cumulative basis equal to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the amount of Cumulative Excess Cash Flow, minus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that portion of Excess Cash Flow that has been, or is required to be (other than Declined Proceeds), applied to prepay Notes (or any portion thereof) pursuant to <u>Section</u> <u>2.11(b)(i)</u> during or with respect to the Fiscal Years in respect of which Cumulative Excess Cash Flow was calculated.

"**Curative Equity**" means the making of capital contributions to Holdings or the issuance of Capital Stock by Holdings (other than Disqualified Capital Stock), in each case that are concurrently contributed to the Issuer, for the purposes of, and in accordance with, <u>Section</u> <u>6.14(c)</u>.

"**Current Assets**" means, at any time, the sum of (a) the consolidated current assets (other than Cash and Cash Equivalents, the current portion of current and deferred Taxes, permitted loans made to third parties, assets held for sale, pension assets, deferred bank fees and derivative financial instruments) of any Person and its Restricted Subsidiaries plus (b) in the event that a Permitted Securitization Financing is accounted for off balance sheet, (x) gross accounts receivable comprising part of the Securitization Assets subject to such Permitted Securitization Financing less (y) collections against the amounts sold pursuant to clause (x).

"**Current Liabilities**" means, at any time, the consolidated current liabilities of any Person and its Restricted Subsidiaries at such time, but excluding, without duplication, (a) the current portion of any long-term Indebtedness, (b) outstanding Variable Notes, (c) the current portion of interest expense (excluding interest expense that is due and unpaid), (d) the current portion of any Capital Lease, (e) the current portion of current and deferred Taxes, (f) liabilities in respect of unpaid earn-outs, (g) the current portion of any other long-term liabilities, (h) accruals relating to restructuring reserves, (i) liabilities in respect of funds of third parties on deposit with the Issuer or any of its Restricted Subsidiaries and (j) any liabilities recorded in connection with stock-based awards, partnership interest-based awards, awards of profits interests, deferred compensation awards and similar incentive based compensation awards or arrangements.

"**DEA**" means the Drug Enforcement Administration of the United States of America, any comparable state or local Governmental Authority, any comparable Governmental Authority in any non-United States jurisdiction, and any successor agency of any of the foregoing.

"**Debtor Relief Laws**" means the Bankruptcy Code, the Insolvency Act, 1986, the Companies Act 2014 of Ireland and all other liquidation, conservatorship, bankruptcy, general assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, examinership or similar debtor relief laws of the U.S., the United Kingdom, Ireland, Jersey or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally. Without limiting the foregoing, in respect of each Lux Note Party and any other Lux Note Party, Debtor Relief Laws shall also include a Luxembourg Insolvency Event.

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"**Declined Proceeds**" has the meaning assigned to such term in <u>Section</u> <u>2.11(b)(v)</u>.

"**Default**" means any event or condition which upon notice, lapse of time or both would become an Event of Default.

"**Defaulting Holder**" means any Holder that has (a) defaulted in its obligations under this Agreement, including without limitation, to purchase a Note within two Business Days of the date required to be purchased by it hereunder, (b) notified the Administrative Agent or any Note Party in writing that it does not intend to satisfy any such obligation or has made a public statement to the effect that it does not intend to comply with its funding obligations under this Agreement or under agreements in which it commits to extend credit generally, (c) failed, within two Business Days after the request of Administrative Agent or the Issuer, to confirm in writing that it will comply with the terms of this Agreement relating to its obligations to fund prospective Notes; <u>provided</u> that such Holder shall cease to be a Defaulting Holder pursuant to this <u>clause (c)</u> upon receipt of such written confirmation by the Administrative Agent, (d) become (or any parent company thereof has become) insolvent or been determined by any Governmental Authority having regulatory authority over such Person or its assets, to be insolvent, or the assets or management of which has been taken over by any Governmental Authority or (e) become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or custodian, appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in, any such proceeding or appointment, or has become the subject of a Bail-In Action, unless in the case of any Holder subject to this <u>clause (e)</u>, the Issuer and the Administrative Agent shall each have determined that such Holder intends, and has all approvals required to enable it (in form and substance satisfactory to each of the Issuer and the Administrative Agent), to continue to perform its obligations as a Holder hereunder; <u>provided</u> that no Holder shall be deemed to be a Defaulting Holder solely by virtue of the ownership or acquisition of any Capital Stock in such Holder or its parent by any Governmental Authority; <u>provided</u> that such action does not result in or provide such Holder with immunity from the jurisdiction of courts within the U.S. or from the enforcement of judgments or writs of attachment on its assets or permit such Holder (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contract or agreement to which such Holder is a party.

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

"**Derivative Transaction**" means (a) any interest-rate transaction, including any interest-rate swap, basis swap, forward rate agreement, interest rate option (including a cap, collar or floor), and any other instrument linked to interest rates that gives rise to similar credit risks (including when-issued securities and forward deposits accepted), (b) any exchange-rate transaction, including any cross-currency interest-rate swap, any forward foreign-exchange contract, any currency option, and any other instrument linked to exchange rates that gives rise to similar credit risks, (c) any equity derivative transaction, including any equity-linked swap, any equity-linked option, any forward equity-linked contract, and any other instrument linked to equities that gives rise to similar credit risk , (d) any commodity (including precious metal) derivative transaction, including any commodity-linked swap, any commodity-linked option, any forward commodity-linked contract, and any other instrument linked to commodities that gives rise to similar credit risks and (e) any and all transactions of any kind, and the related confirmations, in each case 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. or any International Foreign Exchange Master Agreement; <u>provided</u> that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees, members of management, managers or consultants of the Issuer or its subsidiaries shall be a Derivative Transaction.

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"**Designated Non-Cash Consideration**" means the fair market value (as determined by the Issuer in good faith) of non-Cash consideration received by the Issuer or any Restricted Subsidiary in connection with any Disposition pursuant to <u>Section</u> <u>6.07(h)</u> that is designated as Designated Non-Cash Consideration pursuant to a certificate of a Responsible Officer of the Issuer, setting forth the basis of such valuation (which amount will be reduced by the amount of Cash or Cash Equivalents received in connection with a subsequent sale or conversion of such Designated Non-Cash Consideration to Cash or Cash Equivalents).

"**Designated Note Issuances**" has the meaning assigned to such term in <u>Section</u> <u>9.05(i)(i)</u>.

"**Designating Holder**" has the meaning assigned to such term in <u>Section</u> <u>9.05(i)(i)</u>.

"**Disclosure Documents**" means (i) all matters disclosed by Indivior PLC in any regulatory news announcement (for the avoidance of doubt, excluding any forward looking statement(s) (including any risk factors)) made by Indivior PLC, including those made pursuant to its obligations under: (a) Articles 17 to 19 of the Market Abuse Regulation (Regulation 596/2014); (b) the Listing Rules sourcebook published by the UK Financial Conduct Authority; and (c) the Disclosure Guidance and Transparency Rules sourcebook published by the UK Financial Conduct Authority; and (ii) all reports of any Applicable Reporting Company and any amendments thereto and documents incorporated by reference therein that shall have been filed with or furnished to the SEC.

"**Discount Range**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Disposition**" or "**Dispose**" means the sale, lease, sublease, or other disposition of any property of any Person.

"**Disqualified Capital Stock**" means any Capital Stock which, by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable), or upon the happening of any event, (a) matures (excluding any maturity as the result of an optional redemption by the issuer thereof) or is mandatorily redeemable (other than for Qualified Capital Stock), pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof (other than for Qualified Capital Stock), in whole or in part, on or prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued (it being understood that if any such redemption is in part, only the portion of such Capital Stock that is so redeemable prior to 91 days following the Latest Maturity Date shall constitute Disqualified Capital Stock), (b) is or becomes convertible into or exchangeable (unless at the sole option of the issuer thereof) for (i) debt securities or (ii) any Capital Stock that would constitute Disqualified Capital Stock, in each case at any time on or prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued, (c) contains any mandatory repurchase obligation or any other repurchase obligation at the option of the holder thereof (other than for Qualified Capital Stock), in whole or in part, which may come into effect prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued (it being understood that if any such repurchase obligation is in part, only the portion of such Capital Stock that is subject to such repurchase obligation prior to 91 days following the Latest Maturity Date shall constitute Disqualified Capital Stock) or (d) provides for the scheduled payments of dividends in Cash on or prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued; <u>provided</u> that any Capital Stock that would not constitute Disqualified Capital Stock but for provisions thereof giving holders thereof (or the holders of any security into or for which such Capital Stock is convertible,

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exchangeable or exercisable) the right to require the issuer thereof to redeem such Capital Stock upon the occurrence of any change in control or any Disposition occurring prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued shall not constitute Disqualified Capital Stock if such Capital Stock provides that the issuer thereof will not redeem any such Capital Stock pursuant to such provisions prior to the Termination Date.

Notwithstanding the preceding sentence, (A) if such Capital Stock is issued pursuant to any plan for the benefit of directors, officers, employees, members of management, managers or consultants or by any such plan to such directors, officers, employees, members of management, managers or consultants, in each case in the ordinary course of business of Holdings, the Issuer or any Restricted Subsidiary, such Capital Stock shall not constitute Disqualified Capital Stock solely because it may be required to be repurchased by the issuer thereof in order to satisfy applicable statutory or regulatory obligations, and (B) no Capital Stock held by any future, present or former employee, director, officer, manager, member of management or consultant (or their respective Affiliates or Immediate Family Members) of the Issuer (or any Parent Company or any subsidiary) shall be considered Disqualified Capital Stock solely because such stock is redeemable or subject to repurchase pursuant to any management equity subscription agreement, stock option, stock appreciation right or other stock award agreement, stock ownership plan, put agreement, stockholder agreement or similar agreement that may be in effect from time to time.

"**Disqualified Institution**" means (i) any Person that is or becomes a Company Competitor and is designated by the Issuer as such in a writing provided to the Administrative Agent after the date hereof, which designation shall not apply retroactively to disqualify any Person that has previously acquired any assignment or participation interest in any Note or Commitment and (ii) any Affiliate of any such Company Competitor (other than a Bona Fide Debt Fund) that is reasonably identifiable on the basis of such Affiliate's name; <u>provided</u> that an entity becoming an Affiliate of a Company Competitor shall not retroactively disqualify any Person that has previously acquired any assignment or participation interest in any Note or Commitment.

"**Dollar Equivalent**" shall mean, at any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount denominated in any currency other than Dollars, the equivalent amount thereof in Dollars as determined by the Administrative Agent at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date or other applicable date of determination) for the purchase of Dollars with such currency.

"**Dollars**" or "**$**" refers to lawful money of the U.S.

"**Domestic Subsidiary**" means any Restricted Subsidiary incorporated or organized under the laws of the U.S., any state thereof or the District of Columbia.

"**DQ List**" has the meaning assigned to such term in <u>Section</u> <u>9.05(f)(iv)</u>.

"**Dutch Auction**" means an auction (an "**Auction**") conducted by any Affiliated Holder (any such Person, the "**Auction Party**") in order to purchase Initial Term Notes of any Class (or any Additional Term Notes), in accordance with the following procedures; <u>provided</u> that no Auction Party shall initiate any Auction unless (I) at least five Business Days have passed since the consummation of the most recent purchase of Term Notes pursuant to an Auction conducted hereunder; or (II) at least three Business Days have passed since the date of the last Failed Auction which was withdrawn pursuant to <u>clause (c)(i)</u> below:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Notice Procedures</u>. In connection with any Auction, the Auction Party will provide notification to the Auction Agent (for distribution to the relevant Holders) of the Term Notes that will be the subject of the Auction (an "**Auction Notice**"). Each Auction Notice shall be in a form reasonably acceptable to the Auction Agent and shall (i) specify the maximum aggregate principal amount of the Term Notes subject to the Auction, in a minimum amount of $10,000,000 and whole increments of $1,000,000 in excess thereof (or, in any case, such lesser amount of such Term Notes then outstanding or which is otherwise reasonably acceptable to the Auction Agent and the Administrative Agent (if different from the Auction Agent)) (the "**Auction Amount**"), (ii) specify the discount to par (which may be a range (the "**Discount Range**") of percentages of the par principal amount of the Term Notes subject to such Auction), that represents the range of purchase prices that the Auction Party would be willing to accept in the Auction, (iii) be extended, at the sole discretion of the Auction Party, to (x) each Term Holder and/or (y) each Holder with respect to any Term Note on an individual Class basis and (iv) remain outstanding through the Auction Response Date. The Auction Agent will promptly provide each appropriate Holder with a copy of the Auction Notice and a form of the Return Bid to be submitted by a responding Holder to the Auction Agent (or its delegate) by no later than 5:00 p.m. on the date specified in the Auction Notice (or such later date as the Auction Party may agree with the reasonable consent of the Auction Agent) (the "**Auction Response Date**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Reply Procedures</u>. In connection with any Auction, each Holder holding the relevant Term Notes subject to such Auction may, in its sole discretion, participate in such Auction and may provide the Auction Agent with a notice of participation (the "**Return Bid**") which shall be in a form reasonably acceptable to the Auction Agent, and shall specify (i) a discount to par (that must be expressed as a price at which it is willing to sell all or any portion of such Term Notes) (the "**Reply Price**"), which (when expressed as a percentage of the par principal amount of such Term Notes) must be within the Discount Range, and (ii) a principal amount of such Term Notes, which must be in whole increments of $1,000,000 (or, in any case, such lesser amount of such Term Notes of such Holder then outstanding or which is otherwise reasonably acceptable to the Auction Agent) (the "**Reply Amount**"). Holders may only submit one Return Bid per Auction, but each Return Bid may contain up to three bids only one of which may result in a Qualifying Bid. In addition to the Return Bid, the participating Holder must execute and deliver, to be held in escrow by the Auction Agent, an Assignment and Assumption with the dollar amount of the Term Notes to be assigned to be left in blank, which amount shall be completed by the Auction Agent in accordance with the final determination of such Holder's Qualifying Bid pursuant to <u>clause (c)</u> below. Any Holder whose Return Bid is not received by the Auction Agent by the Auction Response Date shall be deemed to have declined to participate in the relevant Auction with respect to all of its Term Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Acceptance Procedures</u>. Based on the Reply Prices and Reply Amounts received by the Auction Agent prior to the applicable Auction Response Date, the Auction Agent, in consultation with the Auction Party, will determine the applicable price (the "**Applicable Price**") for the Auction, which will be the lowest Reply Price for which the Auction Party can complete the Auction at the Auction Amount; <u>provided</u> that, in the event that the Reply Amounts are insufficient to allow the Auction Party to complete a purchase of the entire Auction Amount (any such Auction, a "**Failed Auction**"), the Auction Party shall either, at its election, (i) withdraw the Auction or (ii) complete the Auction at an Applicable Price equal to the highest Reply Price. The Auction Party shall purchase the relevant Term Notes (or the respective portions thereof) from each Holder with a Reply Price that is equal to or lower than the Applicable Price ("**Qualifying Bids**") at the Applicable Price; <u>provided</u> that if the aggregate proceeds required to purchase all Term Notes subject to Qualifying Bids would exceed the Auction Amount for such Auction, the Auction Party shall purchase such Term Notes at the Applicable Price ratably based on the principal amounts of

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such Qualifying Bids (subject to rounding requirements specified by the Auction Agent in its discretion). If a Holder has submitted a Return Bid containing multiple bids at different Reply Prices, only the bid with the lowest Reply Price that is equal to or less than the Applicable Price will be deemed to be the Qualifying Bid of such Holder (*e.g.*, a Reply Price submitted by a Holder of $100 with a discount to par of 2%, when compared to an Applicable Price of $100 with a 1% discount to par, will not be deemed to be a Qualifying Bid, while, however, a Reply Price submitted by a Holder of $100 with a discount to par of 2.50% would be deemed to be a Qualifying Bid). The Auction Agent shall promptly, and in any case within five Business Days following the Auction Response Date with respect to an Auction, notify (I) the Issuer of the respective Holders' responses to such solicitation, the effective date of the purchase of Term Notes pursuant to such Auction, the Applicable Price, and the aggregate principal amount of the Term Notes and the tranches thereof to be purchased pursuant to such Auction, (II) each participating Holder of the effective date of the purchase of Term Notes pursuant to such Auction, the Applicable Price, and the aggregate principal amount and the tranches of Term Notes to be purchased at the Applicable Price on such date, (III) each participating Holder of the aggregate principal amount and the tranches of the Term Notes of such Holder to be purchased at the Applicable Price on such date and (IV) if applicable, each participating Holder of any rounding and/or proration pursuant to the second preceding sentence. Each determination by the Auction Agent of the amounts stated in the foregoing notices to the Issuer and Holders shall be conclusive and binding for all purposes absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Additional Procedures</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;(i) Once initiated by an Auction Notice, the Auction Party may not withdraw an Auction other than a Failed Auction. Furthermore, in connection with any Auction, upon submission by a Holder of a Qualifying Bid, such Holder (each, a "**Qualifying Holder**") will be obligated to sell the entirety or its allocable portion of the Reply Amount, as the case may be, at the Applicable Price.

&nbsp;&nbsp;&nbsp;&nbsp;&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) To the extent not expressly provided for herein, each purchase of Term Notes pursuant to an Auction shall be consummated pursuant to procedures consistent with the provisions in this definition, established by the Auction Agent acting in its reasonable discretion and as reasonably agreed by the Issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&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) In connection with any Auction, the Issuer and the Holders acknowledge and agree that the Auction Agent may require as a condition to any Auction, the payment of customary fees and expenses by the Auction Party in connection therewith as agreed between the Auction Party and 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;(iv) Notwithstanding anything in any Notes Document to the contrary, for purposes of this definition, 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 the Auction Agent's (or its delegate's) actual receipt during normal business hours of such notice or communication; <u>provided</u> 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;(v) The Issuer and the Holders acknowledge and agree that the Auction Agent may perform any and all of its duties under this definition by itself or through any Affiliate of the Auction Agent and expressly consent 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 Auction, and any purchase of Term Notes provided for in this definition as well as activities of the Auction Agent.

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"**Eligible Assignee**" means (a) any Holder, (b) any Approved Fund of any Holder, (c) any Affiliate of any Holder, (d) to the extent permitted under <u>Section</u> <u>9.05(g)</u>, any Affiliated Holder and (e) any other Person that is a commercial bank, insurance company, or finance company, financial institution, any fund that invests in loans and/or notes or any other "accredited investor" (as defined in Regulation D of the Securities Act); <u>provided</u> that in any event, "Eligible Assignee" shall not include (i) any natural person, (ii) any Disqualified Institution or (iii) except as permitted under <u>Section</u> <u>9.05(g)</u>, Holdings, the Issuer or any of its Affiliates.

"**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 clause (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.

"**EMU Legislation**" shall mean the legislative measures of the European Union relating to Economic and Monetary Union.

"**English Group Member**" means each English Note Party and each Restricted Subsidiary incorporated under the laws of England and Wales.

"**English Note Party**" means Holdings, together with any Note Party incorporated under the laws of England and Wales.

"**English Security Documents**" means (a) the English law governed debenture entered into or to be entered into among Holdings, the Issuer, Indivior UK Limited, Indivior UK Finance No 2 Limited and Indivior UK Finance No 3 Limited as chargors and the Administrative Agent as the security trustee for the benefit of the Secured Parties and (b) each other English law governed document or instrument which creates or evidences or which is expressed to create or evidence any Lien granted or required to be granted pursuant to <u>Section</u> <u>5.12</u> and/or the definition of "Collateral and Guarantee Requirement", or which is entered into by Holdings or any subsidiary of Holdings to create or evidence, or which is expressed to create or evidence, security for the Secured Obligations.

"**English Security Trust Deed**" means any English law security trust deed entered into or to be entered into by the Administrative Agent and certain Note Parties whereby, *inter alia*, the Administrative Agent declares the rights, interests, benefits and other property comprised in the Liens the subject of the English Security Documents are held on trust for the other Secured Parties, together with each accession agreement with respect thereto.

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"**Environment**" means ambient air, indoor air, surface water, groundwater, drinking water, land surface and subsurface strata & natural resources such as wetlands, flora and fauna.

"**Environmental Claim**" means any investigation, notice, notice of violation, claim, action, suit, proceeding, demand, abatement order or other order or directive (conditional or otherwise), by any Governmental Authority or any other Person, arising (a) pursuant to or in connection with any actual or alleged violation of any Environmental Law; (b) in connection with any Hazardous Material or any actual or alleged Hazardous Materials Activity; or (c) in connection with any actual or alleged damage, injury, threat or harm the Environment.

"**Environmental Laws**" means any and all current or future foreign or domestic, federal or state (or any subdivision of either of them), statutes, ordinances, orders, rules, regulations, judgments, Governmental Authorizations, or any other applicable requirements of Governmental Authorities and the common law relating to (a) environmental matters, including those relating to any Hazardous Materials Activity; or (b) the generation, use, storage, transportation or disposal of or exposure to Hazardous Materials, in any manner applicable to the Issuer or any of its Restricted Subsidiaries or any Real Estate Facility.

"**Environmental Liability**" means any liability, contingent or otherwise (including any liability for damages, costs of environmental investigation or remediation, fines, penalties or indemnities), 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, (d) the Release or threatened Release of any Hazardous Materials into the Environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.

"**Equity Interests**" means shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such Equity Interest.

"**ERISA**" means the Employee Retirement Income Security Act of 1974, as amended, and the rules and regulations promulgated thereunder.

"**ERISA Affiliate**" means, as applied to any Person, (a) any corporation which is a member of a controlled group of corporations within the meaning of Section 414(b) of the Code of which that Person is a member; and (b) any trade or business (whether or not incorporated) which is a member of a group of trades or businesses under common control within the meaning of Section 414(c) of the Code of which that Person is a member.

"**ERISA Event**" means (a) 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 30-day notice period has been waived); (b) the failure to meet the minimum funding standard of Section 412 of the Code with respect to any Pension Plan, or the filing of any request for or receipt of a minimum funding waiver under Section 412 of the Code with respect to any Pension Plan or a failure to make a required contribution to a Multiemployer Plan; (c) 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; (d) the withdrawal by any of Holdings, the Issuer, any of their Restricted Subsidiaries or any of their respective ERISA Affiliates from any Pension Plan with two or more contributing sponsors or the termination of any such Pension Plan resulting in liability to any of Holdings, the Issuer, any of their Restricted Subsidiaries or any of their respective ERISA Affiliates

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pursuant to Section 4063 or 4064 of ERISA; (e) the institution by the PBGC of proceedings to terminate any Pension Plan; (f) the imposition of liability on any of Holdings, the Issuer, any of their Restricted Subsidiaries or any of their respective ERISA Affiliates pursuant to Section 4062(e) or 4069 of ERISA or by reason of the application of Section 4212(c) of ERISA; (g) a complete or partial withdrawal (within the meaning of Sections 4203 and 4205 of ERISA) of any of Holdings, the Issuer, any of their Restricted Subsidiaries or any of their respective ERISA Affiliates from any Multiemployer Plan, or the receipt by any of Holdings, the Issuer, any of their Restricted Subsidiaries or any of their respective ERISA Affiliates of notice from any Multiemployer Plan that it is in insolvency pursuant to Section 4245 of ERISA, or that it intends to terminate or has terminated under Section 4041A or 4042 of ERISA or is in "endangered" or "critical" status, within the meaning of Section 432 of the Code or Section 305 of ERISA; (h) a failure by any of Holdings, the Issuer, any of their Restricted Subsidiaries or any of their respective ERISA Affiliates to pay when due (after expiration of any applicable grace period) any installment payment with respect to withdrawal liability under Section 4201 of ERISA; (i) a determination that any Pension Plan is, or is reasonably expected to be, in "at-risk" status, within the meaning of Section 430(i)(4) of the Code or Section 303(i)(4) of ERISA; or (j) the incurrence of liability or the imposition of a Lien pursuant to Section 436 or 430(k) of the Code or pursuant to ERISA with respect to any Pension Plan.

"**Erroneous Payment**" has the meaning assigned to it in <u>Article 8</u>.

"**Erroneous Payment Deficiency Assignment**" has the meaning assigned to it in <u>Article 8</u>.

"**Erroneous Payment Impacted Class**" has the meaning assigned to it in <u>Article 8</u>.

"**Erroneous Payment Return Deficiency**" has the meaning assigned to it in <u>Article 8</u>.

"**Erroneous Payment Subrogation Rights**" has the meaning assigned to it in <u>Article 8</u>.

"**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.

"**European Union**" shall mean the political and economic community of European member states with supranational and intergovernmental features, located in Europe.

"**Event of Default**" has the meaning assigned to such term in <u>Article 7</u>.

"**Excess Cash Flow**" means, for any Test Period ending on the last day of any Fiscal Year, an amount (if positive), determined for Holdings and its Restricted Subsidiaries, equal to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the sum, without duplication, of the amounts for such period 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;(i) Consolidated Adjusted EBITDA for such period without giving effect to <u>clause (b)(xix)</u> of the definition thereof, *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;(ii) the Consolidated Working Capital Adjustment for 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;&nbsp;&nbsp;&nbsp;&nbsp;(iii) cash gains of the type described in <u>clauses</u> <u>(c)</u>, <u>(d)</u>, <u>(e)</u>, <u>(f)</u> and <u>(g)</u> of the definition of "Consolidated Net Income", to the extent not otherwise included in calculating Consolidated Adjusted EBITDA (except to the extent such gains consist of proceeds applied pursuant to <u>Section</u> <u>2.11(b)(ii)</u>), *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;(iv) to the extent not otherwise included in the calculation of Consolidated Adjusted EBITDA for such period, cash payments received by Holdings or any of its Restricted Subsidiaries with respect to amounts deducted from Excess Cash Flow in a prior period pursuant to <u>clause (b)(vii)</u> below, *minus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the sum, without duplication, of the amounts for such period 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;(i) permanent repayments of long-term Indebtedness, including for purposes of clarity, the current portion of any such Indebtedness (including (x) payments under <u>Section</u> <u>2.09(b)</u>, <u>Section</u> <u>2.10(a)</u> or <u>(b)</u> and (subject to clause (A) below) <u>Section</u> <u>2.11(a)</u> and (y) prepayments of Initial Term Notes and Additional Term Notes to the extent (and only to the extent) made with the Net Proceeds of a Prepayment Asset Sale or Net Insurance/Condemnation Proceeds that resulted in an increase to Consolidated Net Income and not in excess of the amount of such increase, but excluding (A) the amount of all deductions and reductions to the amount of mandatory prepayments pursuant to <u>clause (B)</u> of <u>Section</u> <u>2.11(b)(i)</u>, (B) all other repayments or prepayments of the Initial Term Notes or Additional Term Notes and (C) repayments of the Variable Notes, any Additional Variable Notes or notes or loans under any variable note or loan or arrangement, except to the extent a corresponding amount of the commitments under such variable note or arrangement are permanently reduced in connection with such repayments), in each case, to the extent not financed with long-term Indebtedness (other than revolving Indebtedness), *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;(ii) without duplication of amounts deducted from Excess Cash Flow pursuant to this <u>clause (ii)</u> or <u>clause (ix)</u> below in respect of a prior period, all Cash payments in respect of capital expenditures as would be reported in the Issuer's consolidated statement of cash flows made during such period and, at the option of the Issuer, any Cash payments in respect of any such capital expenditures made after such period and prior to the date of the applicable Excess Cash Flow payment (except, in each case, to the extent financed with long-term Indebtedness (other than revolving Indebtedness)), *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;(iii) consolidated interest expense added back pursuant to <u>clause (b)(ii)</u> of the definition of "Consolidated Adjusted EBITDA" to the extent paid in Cash, *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;(iv) Taxes (including, without duplication, tax payments made pursuant to Tax Sharing Agreements with Affiliates to the extent permitted by Section 6.04, and any Permitted Tax Distributions) paid and provisions for Taxes, to the extent payable in Cash with respect to such period and added back pursuant to clause (b)(i) of the definition of "Consolidated Adjusted EBITDA", *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;(v) without duplication of amounts deducted from Excess Cash Flow pursuant to this <u>clause (v)</u> or <u>(ix)</u> below in respect of a prior period, Cash payments made during such period in respect of Permitted Acquisitions and other Investments permitted by <u>Section</u> <u>6.06</u> or otherwise consented to by the Required Holders (other than Investments in (x) Cash and Cash Equivalents and (y) the Issuer or any of their Restricted Subsidiaries), or, at the option of the Issuer, any Cash payments in respect of Permitted Acquisitions and other Investments permitted by <u>Section</u> <u>6.06</u> or otherwise consented to by the Required Holders (other than Investments in (x) Cash and Cash Equivalents and (y) the Issuer or any of their Restricted Subsidiaries) made after such period and prior to the date of the applicable Excess Cash Flow payment (except, in each case, to the extent financed with long-term Indebtedness (other than revolving Indebtedness)), *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;(vi) the aggregate amount of all Restricted Payments made under <u>Sections</u> <u>6.04(a)(i)</u>, <u>(ii)</u>, <u>(iv)</u> and <u>(x)</u> or otherwise consented to by the Required Holders, in each case to the extent actually paid in Cash during such period, or, at the option of the Issuer (without duplication of amounts deducted from Excess Cash Flow in respect of a prior period), made after such period and prior to the date of the applicable Excess Cash Flow payment (except, in each case, to the extent financed with long-term Indebtedness (other than revolving Indebtedness)), *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;(vii) amounts added back under <u>clause</u> <u>(b)(ix)(B)(2)</u> or <u>(b)(xxi)</u> of the definition of "Consolidated Adjusted EBITDA" to the extent such amounts have not yet been received by the Issuer or their Restricted Subsidiaries, *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;(viii) an amount equal to all expenses, charges and losses either (A) excluded in calculating Consolidated Net Income or (B) added back in calculating Consolidated Adjusted EBITDA, in the case of <u>clauses (A)</u> and <u>(B)</u>, to the extent paid in Cash, *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;(ix) without duplication of amounts deducted from Excess Cash Flow in respect of a prior period, at the option of the Issuer, the aggregate consideration required to be paid in Cash by the Issuer or their Restricted Subsidiaries pursuant to binding contracts (the "**Contract Consideration**") entered into prior to or during such period relating to capital expenditures, acquisitions or Investments, in each case permitted by <u>Section</u> <u>6.06</u> (other than Investments in (x) Cash and Cash Equivalents and (y) the Issuer or any of its Restricted Subsidiaries) to be consummated or made during the period of four consecutive Fiscal Quarters of the Issuer following the end of such period (except, in each case, to the extent financed with long-term Indebtedness (other than revolving Indebtedness)); <u>provided</u> that to the extent the aggregate amount actually utilized to finance such capital expenditures, acquisitions or Investments during such subsequent period of four consecutive Fiscal Quarters is less than the Contract Consideration, the amount of the resulting shortfall shall be added to the calculation of Excess Cash Flow at the end of such subsequent period of four consecutive Fiscal Quarters, *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;(x) to the extent not expensed (or exceeding the amount expensed) during such period or not deducted (or exceeding the amount deducted) in calculating Consolidated Net Income, the aggregate amount of expenditures, fees, costs and expenses paid in Cash by the Issuer and their Restricted Subsidiaries during such period, other than to the extent financed with long-term Indebtedness (other than revolving Indebtedness), *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;(xi) Cash payments (other than in respect of Taxes, which are governed by <u>clause (iv)</u> above) made during such period for any liability the accrual of which in a prior period did not increase Excess Cash Flow in such prior period (<u>provided</u> there was no other add-back to Consolidated Adjusted EBITDA or deduction to Excess Cash Flow related to such payment), except to the extent financed with long-term Indebtedness (other than revolving Indebtedness), *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;(xii) Cash expenditures made in respect of any Hedge Agreement during such period to the extent (A) not otherwise deducted in the calculation of Consolidated Net Income or added back to Consolidated Adjusted EBITDA and (B) not financed with long-term Indebtedness (other than revolving Indebtedness), *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;(xiii) amounts paid in Cash (except to the extent financed with long-term Indebtedness (other than revolving Indebtedness)) during such period on account of (A) items that were accounted for as non-Cash reductions of Consolidated Net Income or Consolidated Adjusted EBITDA in a prior period (and were not expensed during such period in calculating Consolidated Net Income or added back in the calculation of Consolidated Adjusted EBITDA) and (B) reserves or amounts established in purchase accounting to the extent such reserves or amounts are added back to, or not deducted from, Consolidated Net Income, *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;(xiv) without duplication of clause (b)(i) above, cash payments made by Holdings or its Restricted Subsidiaries during such period in respect of legal settlements and long-term liabilities, including for purposes of clarity, the current portion of any such liabilities (other than Indebtedness) of the Issuer or their Restricted Subsidiaries, except to the extent such cash payments were (A) deducted in the calculation of Consolidated Net Income or added back to Consolidated Adjusted EBITDA for such period, (B) financed with long-term Indebtedness (other than revolving Indebtedness), (C) made using Cash or Cash Equivalents reserved or designated for such purpose in a prior period (to the extent such reservation or designation actually decreased Excess Cash Flow for such period), or (D) consisting of the Specified Settlement Payments.

"**Exchange Act**" means the Securities Exchange Act of 1934 and the rules and regulations of the SEC promulgated thereunder.

"**Excluded Account**" means (a) any Deposit Account or Securities Account that constitutes an Excluded Asset, (b) zero-balance accounts and (c) other Deposit Accounts or Securities Accounts the aggregate cash balance of which is less than $50,000,000 across all such accounts. For the avoidance of doubt, the Original DACA Account (and any replacement account agreed by the Administrative Agent from time to time) shall not be deemed to be an Excluded Account irrespective of the cash balances held therein.

"**Excluded Assets**" means each of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any contract, instrument, lease, licenses, agreement or other document as to which the grant of a security interest would (i) constitute a violation of a restriction in favor of a third party (other than any Parent Company, the Issuer or any of their Restricted Subsidiaries) or result in the abandonment, invalidation or unenforceability of any right of the relevant Note Party, unless and until any required consents shall have been obtained, or (ii) result in a breach, termination (or a right of termination) or default under such contract, instrument, lease, license, agreement or other document (including pursuant to any "change of control" or similar provision); <u>provided</u>, <u>however</u>, that any such asset will only constitute an Excluded Asset under <u>clause (i)</u> or <u>clause</u> <u>(ii</u>) above to the extent such violation or breach, termination (or right of termination) or default would not be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law; <u>provided</u> <u>further</u> that any such asset shall cease to constitute an Excluded Asset at such time as the condition causing such violation, breach, termination (or right of termination) or default or right to amend or require other actions no longer exists and to the extent severable, the security interest granted under the applicable Collateral Document shall attach immediately to any portion of such contract, instrument, lease, license, agreement or document that does not result in any of the consequences specified in <u>clauses (i)</u> and (<u>ii</u>) above,

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any intent-to-use (or similar) Trademark application prior to the filing and acceptance of a "Statement of Use", "Amendment to Allege Use" or similar filing with respect thereto, only to the extent, if any, that, and solely during the period, in which, if any, the grant of a security interest therein may impair the validity or enforceability of such intent-to-use Trademark application under applicable law,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any asset or property, the grant or perfection of a security interest in which would (A) require any governmental consent, approval, license or authorization that has not been obtained, (B) be prohibited by enforceable anti-assignment provisions of applicable Requirements of Law, except, in the case of this <u>clause (B)</u>, to the extent such prohibition would be rendered ineffective under the UCC or other applicable law notwithstanding such prohibition, or (C) be prohibited by enforceable anti-assignment provisions of contracts governing such asset in existence on the Closing Date (or on the date of acquisition of the relevant asset (and in each case not entered into in anticipation of the Closing Date or such acquisition and except, in each case, to the extent that term in such contract providing for such prohibition purports to prohibit the granting of a security interest over all assets of such Note Party or any other Note Party)) other than to the extent such prohibition would be rendered ineffective under the UCC or other applicable law,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) (i) any leasehold Real Estate Asset and (ii) any owned Real Estate Asset that is not a Material Real Estate Asset,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any interest in any partnership, joint venture or non-Wholly-Owned Subsidiary which cannot be pledged without (i) the consent of one or more third parties other than any Parent Company, the Issuer or any of their Restricted Subsidiaries (after giving effect to Section 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law) or (ii) giving rise to a "right of first refusal", a "right of first offer" or a similar right that may be exercised by any third party (other than any Parent Company, the Issuer or any of their Restricted Subsidiaries),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) any Margin Stock,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) deposits accounts and cash collateral securing obligations owing to the Issuer of letters of credit permitted under Section 6.01(c),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Commercial Tort Claims with a value (as reasonably estimated by the Issuer) of less than $5,000,000,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any Cash or Cash Equivalents comprised of (a) funds specially and exclusively used or to be used for payroll and payroll Taxes and other employee benefit payments to or for the benefit of any Note Party's employees, (b) funds used or to be used to pay all Taxes required to be collected, remitted or withheld (including U.S. federal and state withholding Taxes (including the employer's share thereof)) and (c) any other funds which any Note Party holds as an escrow or fiduciary for the benefit of another Person,

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) any accounts receivable and related assets that are sold or disposed of in connection with any factoring or similar arrangement permitted by this Agreement, including Permitted Securitization Financings,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) any asset with respect to which the Administrative Agent and the relevant Note Party have reasonably determined that the cost, burden, difficulty or consequence (including (i) any effect on the ability of the relevant Note Party to conduct its operations and business in the ordinary course of business or (ii) any material adverse tax effect to the Issuer or a Subsidiary or Affiliate of the Issuer) of obtaining or perfecting a security interest therein outweighs the benefit of a security interest to the relevant Secured Parties afforded thereby.

"**Excluded Debt Contribution**" has the meaning assigned to such term in <u>Section</u> <u>6.01(r)</u>

"**Excluded Subsidiary**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any Restricted Subsidiary that is not a Wholly-Owned Subsidiary,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any Immaterial Subsidiary,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any Restricted Subsidiary that is prohibited by law, regulation or contractual obligation existing on the Closing Date or at the time such Restricted Subsidiary becomes a subsidiary (which Contractual Obligation was not entered into in contemplation of such Restricted Subsidiary becoming a subsidiary) from providing a Note Guaranty or that would require a governmental (including regulatory) consent, approval, license or authorization to provide a Note Guaranty (unless such consent has been received, <u>provided</u> that the Issuer shall not be under any obligation to seek such consent),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any not-for-profit subsidiary,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any Special Purpose Securitization Subsidiary,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any captive insurance subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) any Unrestricted Subsidiary,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) in the case of any obligation under any Swap Obligation, any Subsidiary of the Issuer that is not an "Eligible Contract Participant" as defined under the Commodity Exchange Act (determined after giving effect to Section 3.21 of the Note Guaranty and any other "keepwell" support or other agreement for the benefit of such Subsidiary, and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any other Restricted Subsidiary with respect to which, in the reasonable judgment of the Administrative Agent and the Issuer, the burden or cost of providing a Note Guaranty (including any material adverse tax effect to the Issuer or a Subsidiary or Affiliate of the Issuer) outweighs the benefits afforded thereby.

"**Excluded Swap Obligation**" means, with respect to any Guarantor under the Note Guaranty, any Swap Obligation if, and to the extent that, all or a portion of the Note Guaranty of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any Note Guaranty thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor's failure for any reason to constitute an "eligible contract participant" as defined in the Commodity Exchange Act and the regulations thereunder (determined after giving effect to Section 3.21 of the Note Guaranty and any other "keepwell," support or other agreement for the benefit of such Guarantor) at the time the Note Guaranty of such Guarantor 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 Note Guaranty or security interest is or becomes illegal.

"**Excluded Taxes**" means, with respect to the Administrative Agent or any Holder, or any other recipient of any payment to be made by or on account of any obligation of any Note Party hereunder, (a) Taxes imposed on (or measured by) its net income (however denominated), profits, gains or net assets, franchise Taxes, in each case (i) imposed as a result of the Administrative Agent, any Holder, or any other recipient of any payment to be made by or on account of any obligation of any Note Party hereunder, as applicable, being organized under the laws of, or having its principal office or, in the case of any Holder, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or in which it is resident for tax purposes or (ii) that are Other Connection Taxes, (b) any branch profits Taxes imposed under Section 884(a) of the Code or any similar Tax imposed by any other jurisdiction, (c) in the case of any Holder, any U.S. federal withholding Tax that is imposed on amounts payable to such Holder pursuant to a Requirement of Law in effect on the date on which (i) such Holder acquires such interest in a Note or Commitment (other than pursuant to an assignment request by the Issuer under <u>Section</u> <u>2.19(b))</u> or (ii) such Holder changes its lending office, except in each case to the extent that such Foreign Holder (or its assignor, if any) was entitled, immediately prior to the designation of a new lending office (or assignment), to receive additional amounts from any Note Party with respect to such withholding Tax pursuant to <u>Section</u> <u>2.17</u>, (d) any Tax imposed as a result of a failure by the Administrative Agent, any Holder, or any other recipient of any payment to be made by or on account of any obligation of any Note Party hereunder to comply with <u>Section</u> <u>2.17(k)</u> and (e) any withholding Taxes under FATCA.

"**Existing Credit Agreement**" means that certain Credit Agreement, dated as of December 19, 2014 (as amended by that certain First Amendment to Credit Agreement, dated as of March 16, 2015, that certain Second Amendment to Credit Agreement, dated as of December 18, 2017, that certain Third Amendment to Credit Agreement, dated as of June 30, 2021, and that certain Fourth Amendment to Credit Agreement, dated as of April 27, 2022), by and among the Issuer, the lenders from time to time party thereto, Morgan Stanley Senior Funding, Inc., as administrative agent and collateral agent, and the other parties party thereto.

"**Existing Intercompany Debt**" means the "Intercompany Proceeds Note" as defined in the Existing Credit Agreement.

"**Extended Term Notes**" has the meaning assigned to such term in <u>Section</u> <u>2.23(a)</u>.

"**Extended Variable Note Commitment**" has the meaning assigned to such term in <u>Section</u> <u>2.23(a)(ii)</u>.

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"**Extended Variable Notes**" has the meaning assigned to such term in <u>Section</u> <u>2.23(a)(ii)</u>.

"**Extension**" has the meaning assigned to such term in <u>Section</u> <u>2.23(a)</u>.

"**Extension Offer**" has the meaning assigned to such term in <u>Section</u> <u>2.23(a)</u>.

"**Failed Auction**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**FATCA**" means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code (or any amended or successor version described above), and any treaty, law, regulation, official guidance, or practices adopted in any other jurisdiction relating to any intergovernmental agreement between the U.S. and any other jurisdiction that facilitates the implementation of such Sections of the Code.

"**FCPA**" has the meaning assigned to such term in <u>Section</u> <u>3.19</u>.

"**FDA**" means the U.S. Food and Drug Administration, any comparable state or local Governmental Authority, any comparable Governmental Authority in any non-United States jurisdiction, and any successor agency of any of the foregoing.

"**Federal Funds Effective Rate**" means, for any day, the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for such day for such transactions received by Administrative Agent from three Federal funds brokers of recognized standing selected by it; <u>provided</u>, that, if the Federal Funds Effective Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

"**Fee Letters**" means the Agent Fee Letter and the Purchaser Fee Letter.

"**Financial Support Direction**" means a financial support direction issued by the Pensions Regulator under section 43 of the Pensions Act 2004.

"**First Amendment**" means that certain First Amendment to Note Purchase Agreement, dated as of January 21, 2026, by and among the Issuer, the Administrative Agent, the Collateral Agent, and the Holders party thereto.

"**First Amendment Effective Date**" has the meaning assigned to such term in the First Amendment.

"**First Lien Leverage Ratio**" means the ratio, as of any date of determination, of (a)(i) Consolidated First Lien Debt as of such date *minus* (ii) Cash and Cash Equivalents of the Issuer and the other Note Parties in an amount not to exceed $50,000,000 to (b) Consolidated Adjusted EBITDA for the Test Period then most recently ended or the Test Period otherwise specified where the term "First Lien Leverage Ratio" is used in this Agreement, in each case for Holdings and its Restricted Subsidiaries on a consolidated basis. 

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"**First Lien/Second Lien Intercreditor Agreement**" means an intercreditor agreement substantially in the form of <u>Exhibit O</u> hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Issuer, as such document may be amended, restated, supplemented or otherwise modified from time to time.

"**First Priority**" means, with respect to any Lien purported to be created in any Collateral pursuant to any Collateral Document, that, subject to any applicable Intercreditor Agreement such Lien is senior in priority to any other Lien to which such Collateral is subject, other than any Permitted Lien (excluding any Permitted Lien that is expressly required by this Agreement to be subordinated to the Liens purported to be created in any Collateral pursuant to any Collateral Document).

"**Fiscal Quarter**" means a fiscal quarter of any Fiscal Year.

"**Fiscal Year**" means the fiscal year of the Issuer ending December 31 of each calendar year.

"**Fixed Amounts**" has the meaning assigned to such term in <u>Section</u> <u>1.12(c)</u>.

"**Flood Hazard Property**" means any parcel of any Material Real Estate Asset subject to a Mortgage located in the U.S. in an area designated by the Federal Emergency Management Agency as having special flood or mud slide hazards.

"**Flood Insurance Laws**" means, collectively, (i) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (ii) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statue thereto, (iii) the National Flood Insurance Reform Act of 1994 as now or hereafter in effect or any successor statute thereto, (iv) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto and (iv) Biggert-Waters Flood Insurance Reform Act of 2012 as now or hereafter in effect or any successor statute thereto.

"**Floor**" shall mean a rate of interest equal to 0.75% per annum.

"**Foreign Holder**" means any Holder that is not a "United States person" within the meaning of Section 7701(a)(30) of the Code.

"**Foreign Note Party**" has the meaning assigned to such term in <u>Section</u> <u>9.23</u>.

"**Foreign Subsidiary**" means any Restricted Subsidiary that is not a Domestic Subsidiary.

"**Funding Account**" has the meaning assigned to such term in <u>Section</u> <u>2.03(g)</u>.

"**GAAP**" means generally accepted accounting principles in the U.K., including IFRS, in effect and applicable to the accounting period in respect of which reference to GAAP is made; <u>provided</u>, however, that Issuer may (or may as a result of the election of the Parent Company) at any time, upon no less than 10 days written notice to the Administrative Agent, make a one-time irrevocable election to prepare its financial statements in accordance with generally accepted accounting principles in the United States, in which case "GAAP" shall, from and after the date of such election (to be set forth in such written notice) mean generally accepted accounting principles in the United States, in effect and applicable to the accounting period in respect of which reference to GAAP is made; <u>provided</u> that, if the Issuer notifies the Administrative Agent that it requests an amendment to any provision hereof to eliminate the effect of any change occurring as a result of the adoption of generally accepted accounting principles in the United States or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the

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Issuer that the Administrative Agent or the Required Holders request an amendment to any provision hereof for such purpose), then such provision shall be interpreted on the basis of IFRS as otherwise required above (and without regard to this sentence) until such notice shall have been withdrawn or such provision amended in accordance herewith.

"**General Intangibles**" has the meaning set forth in Article 9 of the UCC.

"**Global Intercompany Note**" means the Global Intercompany Note in the form attached hereto as <u>Exhibit H</u>.

"**Governmental Authority**" means any federal, state, municipal, national or other government, governmental department, commission, board, bureau, court, agency or instrumentality or political subdivision thereof or any entity or officer exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to any government or any court, in each case whether associated with a state or locality of the U.S., the U.S., or a foreign government or any other political subdivision thereof (including any supra-national bodies such as the European Union or the European Central Bank).

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

"**Granting Holder**" has the meaning assigned to such term in <u>Section</u> <u>9.05(e)</u>.

"**Guarantee**" of or by any Person (the "**Guarantor**") means any obligation, contingent or otherwise, of the Guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other monetary obligation of any other Person (the "**Primary Obligor**") in any manner and including any obligation of the Guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other monetary obligation or to purchase (or to advance or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other monetary obligation of the payment thereof, (c) to maintain working capital, equity capital or any other financial statement condition or liquidity of the Primary Obligor so as to enable the Primary Obligor to pay such Indebtedness or other monetary obligation, (d) as an account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness or monetary obligation, (e) 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 (f) secured by any Lien on any assets of such Guarantor securing any Indebtedness or other monetary obligation of any other Person, whether or not such Indebtedness or monetary other obligation is assumed by such Guarantor (or any right, contingent or otherwise, of any holder of such Indebtedness or other monetary obligation to obtain any such Lien); <u>provided</u> that the term "Guarantee" shall not include endorsements for collection or deposit 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, Disposition or other transaction 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, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith.

"**Hazardous Materials**" means any chemical, material, substance or waste, or any constituent thereof, which is prohibited, limited or regulated as "toxic", "hazardous" or as a "pollutant" or "contaminant" or words of similar meaning or effect by any Environmental Law or any Governmental Authority.

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

"**Hedge Agreement**" means any agreement with respect to any Derivative Transaction between any Note Party or any Restricted Subsidiary and any other Person.

"**Hedging Obligations**" means, with respect to any Person, the obligations of such Person under any Hedge Agreement. 

"**Holders**" means the Term Holders, the Variable Note Holders, any Additional Purchaser, any holder with an Additional Note Commitment or an outstanding Additional Note and any other Person that becomes a party hereto pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption or as a result of any termination of Commitments and/or prepayment or repayment of Notes permitted or required hereunder.

"**Holdings**" means Indivior Global Holdings Limited.

"**IFRS**" means the International Financial Reporting Standards promulgated from time to time by the International Accounting Standards Board (or any successor board or agency, together the "<u>IASB</u>") and as adopted in the United Kingdom and statements and pronouncements of the IASB or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect from time to time.

"**Immaterial Subsidiary**" means, as of any date, any Restricted Subsidiary of the Issuer (a) that does not have assets in excess of 5.0% of Consolidated Total Assets of Holdings and its Restricted Subsidiaries and (b) that does not contribute Consolidated Adjusted EBITDA in excess of 5.0% of the Consolidated Adjusted EBITDA of Holdings and its Restricted Subsidiaries, in each case, as of the last day of the most recently ended Test Period; <u>provided</u> that the Consolidated Total Assets and Consolidated Adjusted EBITDA (as so determined) of all Immaterial Subsidiaries shall not exceed 10.0% of Consolidated Total Assets and 10.0% of Consolidated Adjusted EBITDA, in each case, of Holdings and its Restricted Subsidiaries for the relevant Test Period; <u>provided</u> <u>further</u> that, at all times prior to the first delivery of financial statements pursuant to <u>Section</u> <u>5.01(a)</u> or <u>(b)</u>, this definition shall be applied based on the pro forma consolidated financial statements of Indivior PLC delivered pursuant to <u>Section</u> <u>4.01</u>. As of the Closing Date, all Immaterial Subsidiaries are denoted as such on <u>Schedule</u> <u>3.13</u>.

"**Immediate Family Member**" means, with respect to any individual, such individual's child, stepchild, grandchild or more remote descendant, parent, stepparent, grandparent, spouse, former spouse, domestic partner, former domestic partner, sibling, mother-in-law, father-in-law, son-in-law and daughter-in-law (including adoptive relationships), any trust, partnership or other bona fide estate-planning vehicle the only beneficiaries of which are any of the foregoing individuals, such individual's estate (or an executor or administrator acting on its behalf), heirs or legatees or any private foundation or fund that is controlled by any of the foregoing individuals or any donor-advised fund of which any such individual is the donor.

"**Increased Cost**" has the meaning assigned to such term in <u>Section</u> <u>2.15</u>.

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"**Incremental Cap**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (i) the greater of (x) $255,000,000 and (y) 75.0% of Consolidated Adjusted EBITDA for the Test Period then most recently ended *less* (ii) the aggregate principal amount of all Incremental Facilities and Incremental Equivalent Debt incurred or issued in reliance on <u>clause (a)(i)</u> of this definition, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of any Incremental Note Facility that effectively extends the Maturity Date with respect to any Class of Notes and/or commitments hereunder, an amount equal to the portion of the relevant Class of Notes or commitments that will be replaced by such Incremental Note Facility, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in the case of any Incremental Variable Note Commitment that effectively replaces any Variable Note Commitment terminated in accordance with <u>Section</u> <u>2.19(b)</u>, an amount equal to the relevant terminated Variable Note Commitment, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the amount of any optional prepayment of any Note in accordance with <u>Section</u> <u>2.11(a)</u> and/or the amount of any permanent reduction of any Variable Note Commitment or Additional Variable Note Commitment so long as, in the case of any optional prepayment, such prepayment was not funded (i) with the proceeds of any long-term Indebtedness (other than revolving Indebtedness) or (ii) with the proceeds of any Incremental Variable Note Commitment incurred in reliance on <u>clause (b)</u> above, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) an unlimited amount so long as, in the case of this <u>clause</u> <u>(e)</u>, (i) if such Incremental Note Facility is secured by a Lien on all or any portion of the Collateral that ranks *pari passu* with the Lien securing the Secured Obligations on the Closing Date, the First Lien Leverage Ratio would not exceed 1.00:1.00 on a Pro Forma Basis (it being understood and agreed that any Indebtedness incurred under this clause (e)(i), together with any permitted refinancing indebtedness (and successive permitted refinancing indebtedness) with respect thereto, shall at all times be included in the calculation of the First Lien Leverage Ratio unless such Indebtedness is separately justified under clause (e)(ii) below) or (ii) if such Incremental Note Facility is unsecured or secured by a Lien on all or any portion the Collateral that ranks junior to the Lien securing the Secured Obligations on the Closing Date, the Total Leverage Ratio would not exceed 2.50:1.00 on a Pro Forma Basis, in each case of <u>clauses (i)</u> through <u>(ii)</u>, calculated on a Pro Forma Basis, including the application of the proceeds thereof (determined on the basis of the financial statements for the most recently ended Test Period), and, in the case of any Incremental Variable Note, assuming a full drawing under such Incremental Variable Note.

Any Incremental Note Facility shall be deemed to have been incurred in reliance on <u>clause (d)</u> above (to the extent capacity exists thereunder) prior to any amounts under <u>clause (a)</u> or <u>(e)</u> above. Any Incremental Note Facility shall be deemed to have been incurred in reliance on <u>clause (e)</u> (to the extent capacity exists thereunder) above prior to any amounts under <u>clause (a)</u> above, unless the Issuer specifies otherwise.

"**Incremental Equivalent Debt**" has the meaning assigned to such term in <u>Section</u> <u>6.01(z)</u>.

"**Incremental Note Facilities**" has the meaning assigned to such term in <u>Section</u> <u>2.22(a)</u>.

"**Incremental Notes**" has the meaning assigned to such term in <u>Section</u> <u>2.22(a)</u>.

"**Incremental Note Request**" has the meaning assigned to such term in <u>Section</u> <u>2.22(a)</u>.

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"**Incremental Term Note Borrowing Date**" means, with respect to each Class of Incremental Term Notes, each date on which Incremental Term Notes of such Class are specified in any amendment providing for such Class of Incremental Term Notes in accordance with <u>Section</u> <u>2.22</u>.

"**Incremental Term Note Facility**" has the meaning assigned to such term in <u>Section</u> <u>2.22(a)</u>.

"**Incremental Term Note**" has the meaning assigned to such term in <u>Section</u> <u>2.22(a)</u>.

"**Incremental Term Note Holder**" means, with respect to any Incremental Term Note, each Term Holder providing any portion of such Incremental Term Note Commitment.

"**Incremental Variable Note**" has the meaning assigned to such term in <u>Section</u> <u>2.22(a)</u>.

"**Incremental Variable Note Borrowing Date**" means, with respect to each Class of Incremental Variable Notes, each date on which Incremental Variable Notes of such Class are specified in any amendment providing for such Class of Incremental Variable Notes in accordance with <u>Section</u> <u>2.22</u>.

"**Incremental Variable Note Facility**" has the meaning assigned to such term in <u>Section</u> <u>2.22(a)</u>.

"**Incremental Variable Note Holder**" means, with respect to any Incremental Variable Note, each Variable Note Holder providing any portion of such Incremental Variable Note Commitment.

"**Incurrence-Based Amounts**" has the meaning assigned to such term in <u>Section</u> <u>1.12(c)</u>.

"**Indebtedness**" as applied to any Person means, without duplication, (a) all indebtedness for borrowed money; (b) that portion of obligations with respect to Capital Leases to the extent recorded as a liability on a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; (c) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments to the extent the same would appear as a liability on a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; (d) any obligation owed for all or any part of the deferred purchase price of property or services (excluding (w) any earn out obligation or purchase price adjustment until such obligation (A) becomes a liability on the statement of financial position or balance sheet (excluding the footnotes thereto) in accordance with GAAP and (B) has not been paid within 30 days after becoming due and payable, (x) any such obligations incurred under ERISA, (y) accrued expenses and trade accounts payable in the ordinary course of business (including on an inter-company basis) and (z) liabilities associated with customer prepayments and deposits), which purchase price is (i) due more than six months from the date of incurrence of the obligation in respect thereof or (ii) evidenced by a note or similar written instrument; (e) all Indebtedness of others secured by any Lien on any property or asset owned or held by such Person regardless of whether the Indebtedness secured thereby shall have been assumed by such Person or is non-recourse to the credit of such Person; (f) the face amount of any letter of credit issued for the account of such Person or as to which such Person is otherwise liable for reimbursement of drawings; (g) the Guarantee by such Person of the Indebtedness of another; (h) all obligations of such Person in respect of any Disqualified Capital Stock and (i) all net obligations of such Person in respect of any Derivative Transaction, including any Hedge Agreement, whether or not entered into for hedging or speculative purposes; <u>provided</u> that (i) in no event shall obligations under any Derivative Transaction be deemed "Indebtedness" for any calculation of any financial ratio under this Agreement (except to the extent of any unpaid or settlement amounts then due thereunder) and (ii) the amount of Indebtedness of any Person for purposes of <u>clause (e)</u> shall be deemed to be equal to the lesser of (A) the aggregate unpaid amount of such Indebtedness and (B) the fair market value of the property encumbered thereby as determined by such

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"**Indemnified Person**" has the meaning assigned to such term in <u>Section</u> <u>9.03(b)</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 Note Party under any Notes Document and (b) to the extent not otherwise described in clause (a), Other Taxes.

"**Information**" has the meaning set forth in <u>Section</u> <u>3.11(a)</u>.

"**Initial Term Note Commitment**" means, with respect to each Term Holder, the commitment of such Term Holder to make Initial Term Notes hereunder in an aggregate amount not to exceed the amount set forth opposite such Term Holder's name on the Commitment Schedule, as the same may be (a) reduced from time to time pursuant to <u>Section</u> <u>2.09</u> and (b) reduced or increased from time to time pursuant to (i) assignments by or to such Term Holder pursuant to <u>Section</u> <u>9.05</u> or (ii) an Additional Term Note Commitment providing for the making of additional Initial Term Notes. The aggregate amount of the Term Holders' Initial Term Note Commitments is $350,000,000.

"**Initial Term Note Maturity Date**" means the date that is six years after the Closing Date. If such date is not a Business Day, the immediately preceding Business Day.

"**Initial Term Notes**" means the term notes issued by the Issuer to the Term Holders pursuant to <u>Section</u> <u>2.01</u>.

"**Intercreditor Agreement**" means any Permitted Junior Intercreditor Agreement or any Permitted Pari Passu Intercreditor Agreement.

"**Interest Coverage Ratio**" means the ratio, as of any date of determination, of (a) Consolidated Adjusted EBITDA for the Test Period then most recently ended to (b) Interest Expense paid in cash during such Test Period in each case for Holdings and its Restricted Subsidiaries.

"**Interest Election Request**" means a written request by the Issuer in the form of <u>Exhibit</u> <u>D</u> or another form reasonably acceptable to the Administrative Agent to convert or continue a Borrowing in accordance with <u>Section</u> <u>2.08</u>.

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"**Interest Expense**" means, at any date of determination, on a consolidated basis in accordance with GAAP, the total interest expense for such period, including without limitation, the interest component of any payments in respect of Capital Lease obligations paid in such period, in each case for Holdings and its Restricted Subsidiaries.

"**Interest Payment Date**" means (a) with respect to any ABR Note, the last Business Day of each March, June, September and December and the Variable Note Maturity Date or the maturity date applicable to such Note and (b) with respect to any SOFR Note, the last day of the Interest Period applicable to the Borrowing of which such Note is a part and, in the case of a SOFR Borrowing with an Interest Period of more than three months' duration, each day that would have been an Interest Payment Date had successive Interest Periods of three months' duration been applicable to such Borrowing.

"**Interest Period**" means with respect to any SOFR Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, three or six months thereafter, as the applicable Issuer may elect (in each case, subject to the availability thereof); <u>provided</u>, that the initial Interest Period shall begin on the Closing Date and end on December 31, 2024; <u>provided</u> that (i) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the immediately preceding Business Day, (ii) any Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period and (iii) no tenor that has been removed from this definition pursuant to <u>Section</u> <u>2.14(b)(iv)</u> shall be available for specification in any Borrowing Request or Interest Election Request. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing.

"**Investment**" means (a) any purchase or other acquisition by the Issuer or any of its Restricted Subsidiaries of any of the Securities of any other Person other than any Note Party (other than Holdings), (b) the acquisition by purchase or otherwise (other than any purchase or other acquisition of inventory, materials, supplies and/or equipment in the ordinary course of business) of all or a substantial portion of the business, property or fixed assets of any other Person or any division or line of business or other business unit of any other Person, (c) any loan, advance (other than any advance to any current or former employee, officer, director, member of management, manager, consultant or independent contractor of the Issuer, any Restricted Subsidiary or any Parent Company for moving, entertainment and travel expenses, drawing accounts and similar expenditures in the ordinary course of business) or capital contribution by the Issuer or any of its Restricted Subsidiaries to any other Person or (d) any Guarantee of the Indebtedness of any Person by the Issuer or any of its Restricted Subsidiaries. Subject to <u>Section</u> <u>5.10</u>, the amount of any Investment shall be the original cost of such Investment, *plus* the cost of all additions thereto, without any adjustments for increases or decreases in value, or write-ups, write-downs or write-offs with respect thereto, but giving effect to any repayments of principal in the case of any Investment in the form of a loan and any return of capital or return on Investment in the case of any equity Investment (whether as a distribution, dividend, redemption or sale but not in excess of the amount of the relevant initial Investment).

"**IP Rights**" has the meaning assigned to such term in <u>Section</u> <u>3.05(c)</u>.

"**Irish Companies Act**" means the Companies Act 2014 of Ireland.

"**Irish Group Member**" means the Irish Guarantor and each Restricted Subsidiary incorporated under the laws of Ireland.

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"**Irish Guarantor**" means Indivior Europe Limited, a private limited company incorporated in Ireland with registered number 616151 and its registered office at 27 Windsor Place, Lower Pembroke Street, Dublin 2, D02 DK44, Ireland.

"**Irish Note Party**" means a Note Party incorporated under the laws of Ireland.

"**Irish Security Documents**" means (a) the Irish law governed debenture dated as of the Closing Date between the Irish Guarantor as chargor and the Administrative Agent as the security trustee for the benefit of the Secured Parties, (b) the equitable charge over shares in the Irish Guarantor dated as of the Closing Date between Indivior UK Limited and the Administrative Agent as the security trustee for the benefit of the Secured Parties and (c) each other Irish law governed document or instrument which creates or evidences or which is expressed to create or evidence any Lien granted or required to be granted pursuant to <u>Section</u> <u>5.12</u> and/or the definition of "Collateral and Guarantee Requirement", or which is entered into by Holdings or any subsidiary of Holdings to create or evidence, or which is expressed to create or evidence, security for the Secured Obligations.

**"Irish Security Trust Deed"** means the Irish law security trust deed dated as of the Closing Date and entered into by the security trustee, Indivior UK Limited and the Irish Guarantor, whereby, *inter alia*, the Administrative Agent declares the rights, interests, benefits and other property comprised in the Liens the subject of the Irish Security Documents to be held on trust for the other Secured Parties, together with each accession agreement with respect thereto.

"**IRS**" means the U.S. Internal Revenue Service or any successor agency or department with primary responsibility for adopting, interpreting and enforcing provisions of the Code.

"**Issuer**" has the meaning assigned to such term in the preamble to this Agreement.

"**ITA**" means the Income Tax Act 2007.

"**Jersey Group Member**" means each Note Party and Restricted Subsidiary organized under the laws of Jersey and required to become a Note Party pursuant to Section 5.12.

"**Jersey Security Documents**" means, if any, each Jersey law governed document or instrument which creates or evidences or which is expressed to create or evidence any Lien granted or required to be granted pursuant to Section 5.12 and/or the definition of "Collateral and Guarantee Requirement", or which is entered into by Holdings or any subsidiary of Holdings to create or evidence, or which is expressed to create or evidence, security for the Secured Obligations.

"**Jersey Security Trust Instrument**" means, if any, the Jersey law security trust instrument to be entered into by Administrative Agent as security trustee, the Issuer and each Jersey Group Member, whereby, inter alia, the Administrative Agent declares the rights, interests, benefits and other property comprised in the Liens the subject of the Jersey Security Documents to be held on trust for the other Secured Parties, together with each accession agreement with respect thereto.

"**Judgment Currency**" has the meaning assigned to such term in <u>Section</u> <u>9.22</u>.

"**Junior Indebtedness**" means any Subordinated Indebtedness (other than Indebtedness among the Issuer and/or its subsidiaries) with an individual outstanding principal amount in excess of the Threshold Amount.

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"**Junior Lien Indebtedness**" means any Indebtedness that is secured by a security interest on all or any portion of the Collateral (other than Indebtedness among the Issuer and/or its subsidiaries) that is expressly junior or subordinated to the Lien securing the Secured Obligations with an individual outstanding principal amount in excess of the Threshold Amount.

"**Latest Maturity Date**" means, as of any date of determination, the latest maturity or expiration date applicable to any Note or commitment hereunder at such time, including the latest maturity or expiration date of any Initial Term Note, Additional Term Note, Variable Note, Additional Variable Note, Variable Note Commitment or Additional Note Commitment at such time.

"**Latest Variable Note Maturity Date**" means, as of any date of determination, the latest maturity or expiration date applicable to any Variable Note or variable note commitment hereunder at such time, including the latest maturity or expiration date of any Variable Note, any Additional Variable Note, the Variable Note Commitment or any Additional Variable Note Commitment at such time.

"**Latest Term Note Maturity Date**" means, as of any date of determination, the latest maturity or expiration date applicable to any term note or term note commitment hereunder at such time, including the latest maturity or expiration date of any Term Note or any Additional Term Note Commitment at such time.

"**Legal Reservations**" means the application of relevant Debtor Relief Laws, general principles of equity and/or principles of good faith and fair dealing and, with respect to any Notes Document governed by the laws of a particular jurisdiction, any other matters which are set out as qualifications or reservations as to matters of law in any legal opinion(s) supplied to the Administrative Agent as a condition precedent under this Agreement on or before the Closing Date, to the extent such opinion(s) relate to the validity or enforceability of such Notes Document and/or any other Notes Documents governed by the laws of such jurisdiction.

"**Letter-of-Credit Right**" has the meaning set forth in Article 9 of the UCC.

"**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 Capital Lease having substantially the same economic effect as any of the foregoing), in each case, in the nature of security; <u>provided</u> that in no event shall an operating lease in and of itself be deemed to constitute a Lien.

"**Limited Condition Acquisition**" means a Permitted Acquisition or any other Investment permitted hereunder that constitutes an acquisition (other than intercompany Investments) by the Issuer or one or more of the Restricted Subsidiaries, the consummation of which is not conditioned on the availability of, or on obtaining, third party financing.

"**Local Time**" shall mean New York City time.

"**Luxembourg**" means the Grand Duchy of Luxembourg.

"**Luxembourg Account Pledge Agreement**" means, if any, each Luxembourg law governed account pledge agreement to be entered into between a Lux Note Party as "Pledgor" and the Administrative Agent with respect to its bank accounts situated in Luxembourg.

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"**Luxembourg Companies Register**" means the Luxembourg Register of Commerce and Companies (*R.C.S Luxembourg*).

"**Luxembourg Insolvency Event**" means, with respect to a Lux Note Party, the occurrence of a Luxembourg Insolvency Proceeding.

"**Luxembourg Insolvency Proceeding**" means, in relation to any Lux Note Party or any of its assets, any corporate action, legal proceedings or other procedure or step in relation to bankruptcy (*faillite*), insolvency, judicial or voluntary liquidation (*liquidation judiciaire ou volontaire*), composition with creditors (*concordat préventif de faillite*), moratorium or reprieve from payment (*sursis de paiement*), controlled management (*gestion contrôlée*), fraudulent conveyance (*action paulienne*), general settlement with creditors, reorganization or similar laws affecting the rights of creditors generally.

"**Luxembourg Share Pledge Agreement**" means, if any, each Luxembourg law governed share pledge agreement to be entered into in respect of the shares issued by any Lux Note Party.

"**Lux Note Party**" shall mean any Subsidiary of the Issuer (i) whose registered office or place of central administration is located in Luxembourg and (ii) which is required to become a Note Party pursuant to Section 5.12.

"**Lux Security Documents**" means each Luxembourg Account Pledge Agreement and the Luxembourg Share Pledge Agreement.

"**Margin Stock**" has the meaning assigned to such term in Regulation U.

"**Material Adverse Effect**" means a material adverse effect on (i) the business, assets, financial condition or results of operations, in each case, of Holdings, the Issuer and their Restricted Subsidiaries, taken as a whole, (ii) the rights and remedies (taken as a whole) of the Administrative Agent or the Holders under the applicable Notes Documents or (iii) the ability of Holdings and the Note Parties (taken as a whole) to perform their payment obligations under the applicable Notes Documents.

"**Material Assets**" means any IP Rights or any other assets or property of Holdings, the Issuer or any Restricted Subsidiary the loss of which has or could reasonably be expected to result in a Material Adverse Effect.

"**Material Asset Transaction**" has the meaning assigned to such term in <u>Section</u> <u>6.16.</u>

"**Material Debt Instrument**" means any physical instrument evidencing any Indebtedness for borrowed money which is required to be pledged to the Administrative Agent (or its bailee) pursuant to any Collateral Document.

"**Material Event of Default**" means an Event of Default under <u>Section</u> <u>7.01(a)</u>, <u>(f)</u>, <u>(g)</u>, <u>(h)(ii)</u> or <u>(n).</u>

"**Material Real Estate Asset**" means (a) each Real Estate Asset listed on <u>Schedule 1.01(b)</u> with any such Real Estate Asset having a fair market value (as reasonably determined by the Issuer after taking into account any liabilities with respect thereto that impact such fair market value) in excess of $10,000,000 as of the Closing Date and (b) any "fee-owned" Real Estate Asset acquired by any Note Party after the Closing Date having a fair market value (as reasonably determined by the Issuer after taking into account any liabilities with respect thereto that impact such fair market value) in excess of $10,000,000; provided, however, that any Real Estate Asset subject to the Sagent Agreement shall not constitute Material Real Estate Asset.

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"**Material Third Party Payor**" means any Third Party Payor that sponsors a Material Third Party Payor Program

"**Material Third Party Payor Programs**" means all payment and reimbursement programs, sponsored by a Third Party Payor, in which the Issuer or a Subsidiary participates the loss of which would reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect

"**Maturity Date**" means (a) with respect to the Variable Note, the Variable Note Maturity Date, (b) with respect to the Initial Term Notes, the Initial Term Note Maturity Date, (c) as to any Replacement Term Notes or Replacement Variable Note incurred pursuant to <u>Section</u> <u>9.02(c)</u>, the final maturity date for such Replacement Term Note or Replacement Variable Note, as the case may be, as set forth in the applicable Refinancing Amendment, (f) with respect to any Incremental Term Notes, the final maturity date set forth in the applicable amendment to this Agreement with respect thereto, (g) with respect to any Incremental Variable Note, the final maturity date set forth in the applicable amendment to this Agreement with respect thereto and (h) with respect to any Extended Variable Note Commitment or Extended Term Notes, the final maturity date set forth in the applicable Extension Offer accepted by the respective Holder or Holders.

"**Maximum Rate**" has the meaning assigned to such term in <u>Section</u> <u>9.19</u>.

"**Medicaid**" means the medical assistance programs administered by state agencies and approved by CMS pursuant to the terms of Title XIX of the Social Security Act, codified at 42 U.S.C. 1396 et seq.

"**Medicare**" means the program of health benefits for the aged and disabled administered by CMS pursuant to the terms of Title XVIII of the Social Security Act, codified at 42 U.S.C. 1395 et seq.

"**Minimum Extension Condition**" has the meaning assigned to such term in <u>Section</u> <u>2.23(b)</u>.

"**Moody's**" means Moody's Investors Service, Inc.

"**Mortgage Policies**" has the meaning assigned to such term in the definition of "Collateral and Guarantee Requirement".

"**Mortgages**" means any mortgage, deed of trust or other agreement which conveys or evidences a Lien in favor of the Administrative Agent, for the benefit of the Administrative Agent and the other Secured Parties, on any Material Real Estate Asset constituting Collateral.

"**Multiemployer Plan**" means any employee benefit plan which is a "multiemployer plan" as defined in Section 3(37) of ERISA, that is subject to the provisions of Title IV of ERISA, and in respect of which Holdings, the Issuer or any of their Restricted Subsidiaries, or any of their respective ERISA Affiliates, makes or is obligated to make contributions or with respect to which any of them has any ongoing obligation or liability, contingent or otherwise.

"**Narrative Report**" means, with respect to the financial statements with respect to which it is delivered, a management discussion and narrative report describing the operations of any Parent Company, the Issuer and their Restricted Subsidiaries for the applicable Fiscal Quarter or Fiscal Year and for the period from the beginning of the then-current Fiscal Year to the end of the period to which the relevant financial statements relate.

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"**Net Insurance/Condemnation Proceeds**" means an amount equal to: (a) any Cash payments or proceeds (including Cash Equivalents) received by the Issuer or any of its Restricted Subsidiaries (i) under any casualty insurance policy in respect of a covered loss thereunder of any assets of the Issuer or any of its Restricted Subsidiaries or (ii) as a result of the taking of any assets of the Issuer or any of its Restricted Subsidiaries by any Person pursuant to the power of eminent domain, condemnation or otherwise, or pursuant to a sale of any such assets to a purchaser with such power under threat of such a taking, *minus* (b) (i) any actual out-of-pocket costs incurred by the Issuer or any of its Restricted Subsidiaries in connection with the adjustment, settlement or collection of any claims of the Issuer or the relevant Restricted Subsidiary in respect thereof, (ii) payment of the outstanding principal amount of, premium or penalty, if any, and interest and other amounts on any Indebtedness (other than the Notes and any Indebtedness secured by a Lien that is *pari passu* with or expressly subordinated to the Lien on the Collateral securing the Secured Obligations) that is secured by a Lien on the assets in question and that is required to be repaid or otherwise comes due or would be in default under the terms thereof as a result of such loss, taking or sale, (iii) the reasonable out-of-pocket costs of putting any affected property in a safe and secure position, (iv) any selling costs and out-of-pocket expenses (including reasonable legal fees, transfer and similar Taxes and the applicable Issuer's good faith estimate of income Taxes paid or payable) in connection with any sale or taking of such assets as described in <u>clause (a)</u> of this definition and (v) any amounts provided as a reserve in accordance with GAAP against any liabilities under any indemnification obligation or purchase price adjustments associated with any sale or taking of such assets as referred to in <u>clause (a)</u> of this definition (<u>provided</u> that to the extent and at the time any such amounts are released from such reserve, such amounts shall constitute Net Insurance/Condemnation Proceeds).

"**Net Proceeds**" means (a) with respect to any Disposition (including any Prepayment Asset Sale), the Cash proceeds (including Cash Equivalents and Cash proceeds subsequently received (as and when received) in respect of non-cash consideration initially received), net of (i) selling costs and out-of-pocket expenses (including reasonable broker's fees or commissions, legal fees, transfer and similar Taxes and the Issuer's good faith estimate of income Taxes paid or payable (including, without duplication, any Permitted Tax Distributions) in connection with such Disposition), (ii) amounts provided as a reserve in accordance with GAAP against any liabilities under any indemnification obligation or purchase price adjustment associated with such Disposition (<u>provided</u> that to the extent and at the time any such amounts are released from such reserve, such amounts shall constitute Net Proceeds), (iii) the principal amount, premium or penalty, if any, interest and other amounts on any Indebtedness (other than the Notes and any other Indebtedness secured by a Lien that is *pari passu* with or expressly subordinated to the Lien on the Collateral securing the Secured Obligations) which is secured by the asset sold in such Disposition and which is required to be repaid or otherwise comes due or would be in default and is repaid (other than any such Indebtedness that is assumed by the purchaser of such asset) and (iv) Cash escrows (until released from escrow to the Issuer or any of its Restricted Subsidiaries) from the sale price for such Disposition; and (b) with respect to any issuance or incurrence of Indebtedness or Capital Stock, the Cash proceeds thereof, net of all Taxes and customary fees, commissions, costs, underwriting discounts and other fees and expenses incurred in connection therewith.

"**Non-Consenting Holder**" has the meaning assigned to such term in <u>Section</u> <u>2.19(b)</u>.

"**Non-Note Party**" means a Restricted Subsidiary that is not a Note Party

"**Non-Note Party Indebtedness of Note Parties**" has the meaning set forth in <u>Section</u> <u>6.01</u>.

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"**Non-Note Party Investment Basket**" means the baskets set forth in <u>Sections</u> <u>6.06(b)(iii)</u>, <u>6.06(e)(ii)</u>, <u>6.06(u)</u> and <u>6.06(x)</u>.

"**Non-Qualified Note Party**" means a Note Party incorporated or organized in a jurisdiction other than a Qualified Jurisdiction.

"**Note Guaranty**" means (a) the Guaranty Agreement, substantially in the form of <u>Exhibit</u> <u>I</u>, executed by each Note Party party thereto and the Administrative Agent for the benefit of the Secured Parties and (b) each other guaranty agreement executed by any Person pursuant to <u>Section</u> <u>5.12</u> in substantially the form attached as <u>Exhibit I</u> or another form that is otherwise reasonably satisfactory to the Administrative Agent and the Issuer.

"**Note Issuance**" means each of the making of a Note.

"**Note Installment Date**" has the meaning assigned to such term in <u>Section</u> <u>2.10(a)</u>.

"**Notes Documents**" means this Agreement, each Fee Letter, any Promissory Note, each Note Guaranty, the Collateral Documents, each Security Trust Deed (and each accession deed or similar instrument with respect thereto), any Intercreditor Agreement required to be entered into pursuant to the terms of this Agreement and any other document or instrument designated by the Issuer and the Administrative Agent as a "Notes Document", it being agreed and understood that the term "Notes Documents" shall not include any equity document. Any reference in this Agreement or any other Notes Document to a Notes Document shall include all appendices, exhibits or schedules thereto.

"**Note Parties**" means the Issuer, each Subsidiary Guarantor, Holdings and in each case their respective successors and permitted assigns.

"**Notes**" means any of the Variable Notes, the Term Notes and the Additional Notes.

"**Notices of Grant of Security Interest in Intellectual Property"** means the notices of grant of security interest substantially in the form attached as Exhibit II to the Security Agreement or such other form as shall be reasonably acceptable to the Administrative Agent.

"**Obligations**" means all unpaid principal of and accrued and unpaid interest (including interest accruing during the pendency of any bankruptcy, insolvency, examinership, small administrative rescue process, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Notes, all accrued and unpaid fees and all expenses, reimbursements, indemnities and all other advances to, debts, liabilities and obligations of the Note Parties to the Holders or to any Holder, the Administrative Agent or any Indemnified Person arising under the Notes Documents, whether direct or indirect (including those acquired by assumption), absolute, contingent, due or to become due, now existing or hereafter arising.

"**OFAC**" has the meaning assigned to such term in <u>Section</u> <u>3.17</u>.

"**Organizational Documents**" means (a) with respect to any corporation, its certificate or articles of incorporation or organization and its by-laws, (b) with respect to any limited partnership, its certificate of limited partnership and its partnership agreement, (c) with respect to any general partnership, its partnership agreement, (d) with respect to any limited liability company, its articles of organization or certificate of formation, and its operating agreement, and (e) with respect to any other form of entity or any entity which is not incorporated or organized in the U.S., such other organizational documents required by local law or customary under its jurisdiction of organization to document the formation and governance

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principles of such type of entity. In the event that any term or condition of this Agreement or any other Notes Document requires any Organizational Document to be certified by a secretary of state or similar governmental official, the reference to any such "Organizational Document" shall only be to a document of a type customarily certified by such governmental official.

"**Original Currency**" has the meaning assigned to such term in <u>Section</u> <u>2.18(a)</u>.

"**Original Deposit Account**" means the Deposit Account of Indivior, Inc., a Delaware corporation, maintained with Bank of America, with account number xxx8828.

"**Original Jurisdiction**" means, in relation to a Note Party, the jurisdiction under whose laws that Note Party is incorporated or organized as at the date of this Agreement or, in the case of any Person that becomes a Note Party pursuant to <u>Section</u> <u>5.12</u> or <u>Section</u> <u>5.16</u>, as at the date on which such Person becomes a Note Party.

"**Other Applicable Indebtedness**" has the meaning assigned to such term in <u>Section</u> <u>2.11(b)(ii)</u>.

"**Other Connection Taxes**" means, with respect to any Holder, Administrative Agent, or any other recipient of any payment to be made by or on account of any obligation of any Note Party hereunder, Taxes imposed as a result of a present or former connection between such recipient and the jurisdiction imposing such Tax (other than connections 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, or engaged in any other transaction pursuant to or enforced any Notes Document, or sold or assigned an interest in any Note or Notes Document).

"**Other Taxes**" means any and all present or future stamp, court or documentary, property, excise, intangible, recording, filing or similar Taxes arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement, except (a) any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 2.19(b)) and (b) any stamp or registration tax payable as a result of any voluntary registration by a Secured Party of a Notes Document in Luxembourg when such registration is not required to protect, preserve, maintain or enforce the rights of that Secured Party under such Note Document.

"**Outstanding Amount**" means with respect to Term Notes and Variable Notes on any date, the amount of the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Term Notes and Variable Notes, as the case may be, occurring on such date.

"**Overnight Foreign Currency Rate**" shall mean, for any amount payable in an Alternative Currency, the rate of interest per annum as determined by the Administrative Agent at which overnight or weekend deposits in the relevant currency (or if such amount due remains unpaid for more than three (3) Business Days, then for such other period of time as the Administrative Agent may elect) for delivery in immediately available and freely transferable funds would be offered by the Administrative Agent to major banks in the interbank market upon request of such major banks for the relevant currency as determined above and in an amount comparable to the unpaid principal amount of the related Note Issuance, plus any Taxes, levies, imposts, duties, deductions, charges or withholdings imposed upon, or charged to, the Administrative Agent by any relevant correspondent bank in respect of such amount in such relevant currency.

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"**Parent Company**" shall mean, (i) prior to the First Amendment Effective Date, (a) Indivior PLC and (b) any other Person of which each Issuer is an indirect Wholly-Owned Subsidiary, and (ii) on or after the First Amendment Effective Date, (a) TopCo and (b) any other Person of which each Issuer is an indirect Wholly-Owned Subsidiary.

"**Pari First Lien Intercreditor Agreement**" means an intercreditor agreement substantially in the form of <u>Exhibit N</u> hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Issuer, as such document may be amended, restated, supplemented or otherwise modified from time to time.

"**Participant**" has the meaning assigned to such term in <u>Section</u> <u>9.05(c)</u>.

"**Participant Register**" has the meaning assigned to such term in <u>Section</u> <u>9.05(c)</u>.

"**Patent**" means the following: (a) any and all patents and patent applications; (b) all inventions described and claimed therein; (c) all reissues, divisions, continuations, renewals, extensions and continuations in part thereof; (d) all income, royalties, damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments for past and future infringements thereof; (e) all rights to sue for past, present, and future infringements thereof; and (f) all rights corresponding to any of the foregoing.

"**Payment Recipient**" has the meaning assigned to it in <u>Article 8</u>.

"**PBGC**" means the Pension Benefit Guaranty Corporation.

"**Pension Plan**" means any "employee pension benefit plan", as defined in Section 3(2) of ERISA (other than a Multiemployer Plan), that is subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, which Holdings, the Issuer or any of their Restricted Subsidiaries, or any of their respective ERISA Affiliates, maintains or contributes to or has an obligation to contribute to, or otherwise has any liability, contingent or otherwise.

"**Pensions Regulator**" means the body corporate by that name established under Part 1 of the Pensions Act 2004.

"**Perfection Certificate**" means a certificate substantially in the form of <u>Exhibit E</u>.

"**Perfection Certificate Supplement**" means a supplement to the Perfection Certificate substantially in the form of <u>Exhibit</u>**<u> </u>**<u>F</u>.

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"**Periodic Term SOFR Determination Day**" has the meaning assigned to such term in the definition of "Term SOFR".

"**Permitted Acquisition**" means any acquisition by the Issuer or any of its Restricted Subsidiaries, whether by purchase, merger or otherwise, of all or substantially all of the assets of, or any business line, unit or division of, any Person or of a majority of the outstanding Capital Stock of any Person (but in any event including any Investment in (x) any Restricted Subsidiary which serves to increase the applicable Issuer's or any Restricted Subsidiary's respective equity ownership in such Restricted Subsidiary or (y) any joint venture for the purpose of increasing the applicable Issuer's or its relevant Restricted Subsidiary's ownership interest in such joint venture); <u>provided</u> that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (i) on the date of signing of the definitive acquisition agreement for such Permitted Acquisition, no Event of Default shall have occurred and be continuing and (ii) at the closing of such Permitted Acquisition, no Event of Default under <u>Section</u> <u>7.01(a)</u>, <u>(f)</u> or <u>(g)</u> exists or would result after giving pro forma effect to such acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the total consideration paid by Persons that are Note Parties for (i) the Capital Stock of any Person that does not become a Guarantor and (ii) in the case of an asset acquisition, assets that are not acquired by the Issuer or any Guarantor, when taken together with the total consideration for all such Persons and assets so acquired after the Closing Date, shall not exceed the sum of (A) taken together with all Indebtedness incurred pursuant to <u>Section</u> <u>6.01(j)</u> that is at the time outstanding, the greater of (x) $145,000,000 and (y) 40.0% of Consolidated Adjusted EBITDA as of the last day of the most recent Test Period and (B) amounts otherwise available under <u>clauses</u> <u>(q)</u>, <u>(r)</u>, <u>(x)</u> and <u>(dd)</u> of <u>Section</u> <u>6.06</u> (so long as any such additional amounts are incurred in compliance with, and justified as outstanding under, such provisions); <u>provided</u>, that the limitation described in this <u>clause (b)</u> shall not apply to any acquisition to the extent such acquisition is made with the proceeds of sales of the Qualified Capital Stock of, or common equity capital contributions to, the Issuer or any Restricted Subsidiary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the business of such Person, or the business conducted with such assets, as the case may be, constitutes a business permitted by <u>Section</u> <u>6.10</u>.

"**Permitted Hedge Counterparty**" means, subject to the consent of the Administrative Agent (not to be unreasonably withheld, conditioned or delayed), any financial institution that is designated in writing to the Administrative Agent by the Issuer from time to time as a provider of hedging services, in each case in its capacity as a party thereto, and whether or not such Person subsequently ceases to be a Holder or an Affiliate of any Holder.

"**Permitted Junior Intercreditor Agreement**" shall mean, with respect to any Liens on all or any portion of the Collateral that are intended to be junior to any Liens securing the Initial Term Notes and Variable Notes (and other Secured Obligations that are pari passu with the Initial Term Notes and Variable Notes), either (as the Issuer shall elect) (x) the First Lien/Second Lien Intercreditor Agreement if such Liens secure "Second-Priority Obligations" (as defined therein) or (y) another intercreditor agreement not materially less favorable to the Holders vis-à-vis such junior Liens than the First Lien/Second Lien Intercreditor Agreement (as determined by the Issuer in good faith).

"**Permitted Liens**" means Liens permitted pursuant to <u>Section</u> <u>6.02</u>.

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"**Permitted Pari Passu Intercreditor Agreement**" shall mean, with respect to any Liens on all or any portion of the Collateral that are intended to be *pari passu* with the Liens securing the Initial Term Notes and Variable Notes (and other Secured Obligations that are *pari passu* with the Initial Term Notes and Variable Notes), either (as the Issuer shall elect) (x) the Pari First Lien Intercreditor Agreement or (y) another intercreditor agreement not materially less favorable to the Holders *vis-à-vis* such *pari passu* Liens than the Pari First Lien Intercreditor Agreement (as determined by the Issuer in good faith).

"**Permitted Securitization Documents**" shall mean all documents and agreements evidencing, relating to or otherwise governing a Permitted Securitization Financing, in each case as such documents and agreements may be amended, modified, supplemented, refinanced or replaced from time to time, so long as the relevant Permitted Securitization Financing would still meet the requirements of the definition thereof after giving effect to such amendment, modification, supplement, refinancing or replacement.

"**Permitted Securitization Financing**" shall mean one or more transactions that are designated as a "Permitted Securitization Financing" as provided below, pursuant to which (i) Securitization Assets or interests therein are sold to or financed by one or more Special Purpose Securitization Subsidiaries, and (ii) such Special Purpose Securitization Subsidiaries finance their acquisition of such Securitization Assets or interests therein, or the financing thereof, by selling or borrowing against Securitization Assets and any Hedge Agreements entered into in connection with such Securitization Assets; <u>provided</u>, that (x) none of Holdings, the Issuer or any Restricted Subsidiary guarantees any obligations (contingent or otherwise) under such transactions, (y) no property or asset (other than Securitization Assets or the Capital Stock of any Special Purpose Securitization Subsidiary) of Holdings, the Issuer or any Restricted Subsidiary (other than a Special Purpose Securitization Subsidiary) is, directly or indirectly, contingently or otherwise, subject to the satisfaction of any such transaction and (z) there shall be no recourse to Holdings, the Issuer or any Subsidiary (other than the Special Purpose Securitization Subsidiaries) in connection with such transactions, in each case except to the extent customary (as determined by the Issuer in good faith) for similar transactions in the applicable jurisdictions (including, to the extent applicable, in a manner consistent with the delivery of a "true sale"/"absolute transfer" opinion with respect to any transfer by the Issuer or any Subsidiary (other than a Special Purpose Securitization Subsidiary)). Any such designation shall be evidenced to the Administrative Agent by filing with the Administrative Agent a certificate signed by a Responsible Officer of the Issuer certifying that, to the best of such officer's knowledge and belief after consultation with counsel, such designation complied with the foregoing conditions.

"**Permitted Tax Distributions**" means with respect to any taxable period (or portion thereof) for which the Issuer is (A) treated as a partnership or disregarded entity for U.S. federal income tax purposes, amounts distributable from the Issuer and its Subsidiaries to direct and indirect holders of Equity Interests in the Issuer to permit such holders to discharge their U.S. federal, state, local, and non-U.S. Taxes (as applicable), including distributions made pursuant to a Tax Sharing Agreement with such direct or indirect holders of Equity Interests in the Issuer, that are attributable to the direct and indirect ownership of the Issuer and its Subsidiaries in the aggregate amount not to exceed (I) (x) the net taxable income of the Issuer and its Subsidiaries in respect of the taxable period, taking into account only items of income, gain, loss, deduction or credit of the Issuer or any applicable Subsidiary, multiplied by (y) the highest combined marginal U.S. federal and applicable state, local and/or non-U.S. income tax rate (taking into account the character of the taxable income, but not taking into account (i) the deductibility of state and local income taxes for U.S. federal income tax purposes and (ii) tax deductions or basis adjustments pursuant to Section 734(b) or 743(b) of the Code (but including, for purposes of greater certainty, allocations pursuant to Section 704(c) of the Code)) and (II) with respect to a Tax Sharing Agreement, the actual Tax Liability of such direct or indirect holder of Equity Interests in the Issuer attributable to such holders ownership of the Issuer and its Subsidiaries, and (B) a member of a consolidated, combined,

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affiliated or unitary group for U.S. federal and/or applicable state, local and/or or non-U.S. income tax purposes (a "**Tax Group**"), distributions by Issuer and its Subsidiaries during any taxable period (or portion thereof) in which Issuer is a member of such Tax Group of which Issuer or Holdings (or their direct or indirect beneficial owner) is the common parent order to pay any applicable U.S. federal and/or applicable state, local, and non-U.S. income taxes of such Tax Group then due and owing that are attributable to the taxable income of Issuer and its Subsidiaries; <u>provided</u>, <u>that</u>, for each taxable period, the aggregate amount of such payments made in respect of such taxable period by Issuer shall not be greater than the amount of such Taxes that Issuer and its applicable Subsidiaries would have been required to pay as a stand-alone corporate Tax Group; provided, further, that in the case of clauses (A) and (B) any such amount attributable to taxable income of an Unrestricted Subsidiary shall be permitted solely to the extent a corresponding amount of cash is received by the Issuer or a Restricted Subsidiary from such Unrestricted Subsidiary for purposes of the relevant tax distribution.

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

"**Plan**" means any "employee pension benefit plan" (within the meaning of Section 3(2) of ERISA) maintained by Holdings, the Issuer or any of their Restricted Subsidiaries or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any of their ERISA Affiliates, other than any Multiemployer Plan.

"**Platform**" has the meaning assigned to such term in <u>Section</u> <u>5.01</u>.

"**Prepayment Asset Sale**" means any Disposition by the Issuer or its Restricted Subsidiaries made pursuant to, <u>Section</u> <u>6.07(h)</u>, <u>Section</u> <u>6.07(n)</u>, <u>Section</u> <u>6.07(q)</u>, <u>clause (ii)</u> to the proviso to <u>Section</u> <u>6.07(r)</u> (to the extent provided therein), <u>Section</u> <u>6.07(z)</u> and <u>Section</u> <u>6.08</u>.

"**Primary Obligor**" has the meaning assigned to such term in the definition of "Guarantee".

"**Prime Rate**" means (a) the rate of interest publicly announced, from time to time, by the Administrative Agent at its principal office in New York City as its "prime rate", with the understanding that the "prime rate" is one of the Administrative Agent's base rates (not necessarily the lowest of such rates) and serves as the basis upon which effective rates of interest are calculated for those loans or notes making reference thereto and is evidenced by the recording thereof after its announcement in such internal publications as the Administrative Agent may designate or (b) if the Administrative Agent has no "prime rate", the rate of interest last quoted by *The Wall Street Journal* as the "Prime Rate" in the U.S. or, if *The Wall Street Journal* ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board 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 reasonably determined by the Administrative Agent) or any similar release by the Federal Reserve Board (as reasonably determined by the Administrative Agent).

"**Pro Forma Basis**" or "**pro forma effect**" means, as to any calculation of the Total Leverage Ratio, the First Lien Leverage Ratio, any other financial ratio, Consolidated Adjusted EBITDA or Consolidated Total Assets (including component definitions thereof), for any events as described below that occur subsequent to the commencement of any period of four consecutive Fiscal Quarters (the "**Reference Period**") for which the financial effect of such events is being calculated, and giving effect to the events for which such calculation is being made, such calculation as will give pro forma effect to such events as if such events occurred as of the first day of the Reference Period (or, in the case of Consolidated Total Assets, as of the last day of such Reference Period) and that: (i) in making any determination of

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Consolidated Adjusted EBITDA, effect shall be given to (without duplication of any add-back to Consolidated Adjusted EBITDA pursuant to clause (xix) of the definition thereof) any Disposition, acquisition, Investment, capital expenditure, cost saving (including sourcing), operating improvement, expense reduction, cost synergies, merger, amalgamation, consolidation (including the Transactions) (or any similar transaction or transactions not otherwise permitted under <u>Section</u> <u>6.01</u> or <u>6.06</u> that require a waiver or consent of the Required Holders and such waiver or consent has been obtained), any dividend, distribution or other similar payment, any designation of any subsidiary of the Issuer as an Unrestricted Subsidiary (or of an Unrestricted Subsidiary as a Restricted Subsidiary), which adjustments such Issuer determines in good faith as set forth in a certificate of a chief financial officer, treasurer or similar officer of such Issuer (the foregoing, together with any transactions related thereto or in connection therewith, and any other events that by the terms of the Notes Documents require pro forma compliance or determination on a pro forma basis, the "**Subject Transactions**"), in each case that occurred during the Reference Period (or, unless otherwise specified, occurring during the Reference Period or thereafter and through and including the date of determination, if applicable), (ii) in making any determination on a Pro Forma Basis, (x) all Indebtedness (including Indebtedness issued, incurred or assumed as a result of, or to finance, any relevant transactions and for which the financial effect is being calculated, whether incurred under this Agreement or otherwise, and excluding normal fluctuations in revolving Indebtedness incurred for working capital purposes and amounts outstanding under any Permitted Securitization Financing) issued, incurred, assumed or permanently repaid, as applicable, during the Reference Period (or, unless otherwise specified, occurring during the Reference Period or thereafter and through and including the date of determination, if applicable) shall be deemed to have been issued, incurred, assumed or permanently repaid at the beginning of such period, (y) interest charges attributable to interest on any Indebtedness, for which pro forma effect is being given as provided in preceding <u>clause (x)</u>, bearing floating interest rates shall be computed on a pro forma basis as if the rate that is or would be in effect with respect to such Indebtedness as at the relevant date of determination would have been in effect during the period for which pro forma effect is being given and (z) the acquisition of any assets included in calculating Consolidated Total Assets, whether pursuant to any Subject Transaction or any Person becoming a subsidiary or merging, amalgamating or consolidating with or into the Issuer or any of its subsidiaries, or the Disposition of any assets included in calculating Consolidated Total Assets pursuant to any Subject Transaction shall be deemed to have occurred as of the last day of the applicable Reference Period, and (iii) with respect to (A) any designation of an Unrestricted Subsidiary as a Restricted Subsidiary, effect shall be given to such designation and all other designations of Unrestricted Subsidiaries as Restricted Subsidiaries after the first day of the relevant Reference Period and on or prior to the date of the then applicable designation of an Unrestricted Subsidiary as a Restricted Subsidiary, collectively, and (B) any designation of a Restricted Subsidiary as an Unrestricted Subsidiary, effect shall be given to such designation and all other designations of Restricted Subsidiaries as Unrestricted Subsidiaries after the first day of the relevant Reference Period and on or prior to the date of the then applicable designation of a Restricted Subsidiary as an Unrestricted Subsidiary, collectively.

Pro forma calculations made pursuant to the definition of the term "Pro Forma Basis" shall be determined in good faith by a Responsible Officer of the Issuer and, to the extent applicable, in compliance with <u>Section</u> <u>1.10</u>.

Notwithstanding anything to the contrary set forth in this definition, for the avoidance of doubt, when calculating the First Lien Leverage Ratio or the Total Leverage Ratio (as applicable) for purposes of the definition of "Applicable Rate", the events described in the second preceding paragraph that occurred subsequent to the end of the applicable Reference Period shall not be given pro forma effect.

"**Process Agent**" has the meaning assigned to such term in <u>Section</u> <u>9.10(e)</u>.

"**Products**" means, from time to time, any products currently manufactured, sold, developed, tested or marketed by the Issuer or any of its Subsidiaries.

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"**Projections**" means the projections of the Issuer and their subsidiaries provided to the Administrative Agent on September 16, 2024.

"**Promissory Note**" means a promissory note of the applicable Issuer payable to any Holder or its registered assigns, in substantially the form of <u>Exhibit</u> <u>G</u>, evidencing the aggregate outstanding principal amount of Notes of a particular Class of such Issuer to such Holder resulting from the Notes of such Class purchased by (or otherwise owing to) such Holder.

"**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 Company Costs**" shall mean, as to any Person, costs associated with, or in anticipation of, or preparation for, compliance with the requirements of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith and costs relating to compliance with the provisions of the Securities Act and the Exchange Act, or compliance with any similar rules in any applicable jurisdiction, as applicable to companies with equity or debt securities held by the public, the rules of national securities exchange companies with listed equity, directors', managers' and/or employees' compensation, fees and expense reimbursement, costs relating to investor relations, shareholder meetings and reports to shareholders or debtholders, directors' and officers' insurance and other executive costs, legal and other professional fees, and listing fees and other costs and/or expenses associated with being a public company.

"**Public Holder**" has the meaning assigned to such term in <u>Section</u> <u>5.01</u>.

"**Purchaser**" means each purchaser of Notes on the Closing Date under the terms set forth in this Agreement.

"**Purchaser Fee Letter**" means that certain Purchaser Fee Letter, dated as of the Closing Date, by and among the Issuer and the Administrative Agent.

"**Qualified Capital Stock**" of any Person means any Capital Stock of such Person that is not Disqualified Capital Stock.

"**Qualified Jurisdiction**" shall mean (a) the United States, the United Kingdom, Luxembourg, Jersey and Ireland and (b) any other jurisdiction where the Administrative Agent has determined (acting reasonably and following a request by the Issuer and based on advice of local counsel) that Wholly-Owned Subsidiaries organized in such jurisdiction may provide guarantees and security which, after giving effect to the Agreed Guarantee and Security Principles, would provide substantially the same benefits as guarantees and security provided with respect to the Collateral owned by such entities as would have been obtained if the respective subsidiary were instead organized in any of the jurisdictions listed in preceding clause (a).

"**Qualified Note Party**" shall mean any Note Party incorporated or organized in a Qualified Jurisdiction.

"**Qualifying Bid**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Qualifying Holder**" has the meaning assigned to such term in the definition of "Dutch Auction".

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"**Quoted Eurobond Listing**" means the listing of the Notes as described in section 987(1)(b) ITA 2007 on a recognized stock exchange within the meaning contained in section 1005 of the ITA 2007, and for the purposes of section 882 of the Income Tax Act 2007.

"**Quoted Eurobond Listing Date**" means the date on which the Quoted Eurobond Listing is first made.

"**RBP Global**" has the meaning assigned to such term in the preamble to this Agreement.

"**Real Estate Asset**" means, at any time of determination, all right, title and interest (fee, leasehold or otherwise) of any Note Party in and to real property (including, but not limited to, land, improvements and fixtures thereon).

"**Real Estate Facility**" means any real property (including all buildings, fixtures or other improvements located thereon) now, hereafter or, except with respect to <u>Articles 5</u> and <u>6</u>, hereof owned, leased, operated or used by the Issuer or any of its Restricted Subsidiaries.

"**Receivables Net Investment**" shall mean the aggregate cash amount paid by the holders, lenders or purchasers under any Permitted Securitization Financing in connection with their purchase of, or the making of loans secured by, Securitization Assets or interests therein, as the same may be reduced from time to time by collections with respect to such Securitization Assets or otherwise in accordance with the terms of the Permitted Securitization Documents (but excluding any such collections used to make payments of commissions, discounts, yields and other fees and charges incurred in connection with any Permitted Securitization Financing payable to any person other than the Issuer or a Subsidiary Guarantor); <u>provided</u>, <u>however</u>, that if all or any part of such Receivables Net Investment shall have been reduced by application of any distribution and thereafter such distribution is rescinded or must otherwise be returned for any reason, such Receivables Net Investment shall be increased by the amount of such distribution, all as though such distribution had not been made.

"**Receiver**" means a receiver or receiver and manager or administrative receiver of the whole or any part of the assets which from time to time are expressed to be the subject of any English Security Document or any Irish Security Document or any Jersey Security Document.

"**Recipient**" has the meaning assigned to such term in <u>Section</u> <u>2.17(p)(ii)</u>.

"**Refinancing**" means the payment in full of the obligations of Issuer and the other obligors under the Existing Credit Agreement and the Existing Intercompany Debt, in each case with proceeds of the Initial Term Note on the Closing Date.

"**Refinancing Amendment**" means an amendment to this Agreement in form and substance reasonably satisfactory to the Administrative Agent and the Issuer executed by (a) Holdings and the Issuer, (b) the Administrative Agent and (c) each Holder that agrees to provide all or any portion of the Replacement Term Notes or the Replacement Variable Note Commitment being incurred pursuant thereto and in accordance with <u>Section</u> <u>9.02(c)</u>.

"**Refinancing Indebtedness**" has the meaning assigned to such term in <u>Section</u> <u>6.01(p)</u>.

"**Refunding Capital Stock**" has the meaning assigned to such term in <u>Section</u> <u>6.04(a)(viii)</u>.

"**Register**" has the meaning assigned to such term in <u>Section</u> <u>9.05(b)(iv)</u>.

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"**Regulation D**" means Regulation D of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof.

"**Regulation H**" means Regulation H of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof.

"**Regulation T**" means Regulation T of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof.

"**Regulation U**" means Regulation U of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof.

"**Regulation X**" means Regulation X of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof.

"**Regulatory Required Permit**" means any and all licenses, approvals and permits issued by the FDA, DEA or any other applicable Governmental Authority necessary for the testing, manufacture, marketing or sale of any Product by any applicable Issuer(s) and its Subsidiaries as such activities are being conducted by such Issuer and its Subsidiaries with respect to such Product at such time, registrations issued by DEA under 21 U.S.C. Section 823 (if applicable to any Product), and those issued by State governments that are necessary for the conduct of Issuer's or any Subsidiary's business.

"**Related Funds**" shall mean with respect to any Holder that is an Approved Fund, any other Approved Fund that is managed by the same investment advisor as such Holder or by an Affiliate of such investment advisor.

"**Related Parties**" means, with respect to any specified Person, such Person's Affiliates and the respective officers, directors, employees, agents, controlling persons, trustees and members of such Person and such Person's Affiliates.

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

"**Relevant Party**" has the meaning assigned to such term in <u>Section</u> <u>2.17(p)(ii)</u>.

"**Relevant Holder**" has the meaning assigned to such term in <u>Section</u> <u>9.05(i)(vii)</u>.

"**Replaced Variable Note**" has the meaning assigned to such term in <u>Section</u> <u>9.02(c)</u>.

"**Replaced Term Notes**" has the meaning assigned to such term in <u>Section</u> <u>9.02(c)</u>.

"**Replacement Variable Note**" has the meaning assigned to such term in <u>Section</u> <u>9.02(c)</u>.

"**Replacement Term Notes**" has the meaning assigned to such term in <u>Section</u> <u>9.02(c)</u>.

"**Reply Amount**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Reply Price**" has the meaning assigned to such term in the definition of "Dutch Auction".

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"**Representatives**" has the meaning assigned to such term in <u>Section</u> <u>9.13</u>.

"**Required Holders**" means, at any time, Holders having Term Notes, Variable Note Exposure or unused Commitments representing more than 50% of the sum of the total Term Notes, Variable Note Exposure and such unused Commitments at such time.

"**Required Variable Note Holders**" means, at any time, Holders having Variable Notes, Additional Variable Notes, other Variable Note Exposure, Unused Variable Note Commitments and unused Additional Variable Note Commitments representing more than 50% of the sum of the total Variable Notes, Additional Variable Notes, other Variable Note Exposure and such unused Commitments at such time.

"**Requirements of Law**" means, with respect to any Person, collectively, the common law and all federal, state, local, foreign, multinational or international laws, statutes, codes, treaties, standards, rules and regulations, guidelines, ordinances, orders, judgments, writs, injunctions, decrees (including administrative or judicial precedents or authorities) and the interpretation or administration thereof by, and other determinations, directives, requirements or requests of any Governmental Authority, in each case whether or not having the force of law and that are applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject.

"**Resolution Authority**" means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

"**Responsible Officer**" of any Person means the chief executive officer, the president, the chief financial officer, the treasurer, any assistant treasurer, any executive vice president, any senior vice president, any vice president or the chief operating officer of such Person, any authorized signatory appointed by the board of directors (*conseil d'administration*) or board of managers (*conseil de gérance*) of such person (as applicable) and any other individual or similar official thereof responsible for the administration of the obligations of such Person in respect of this Agreement, and, as to any document delivered on the Closing Date, shall (subject to the express requirements of <u>Section</u> <u>4.01</u>) include any secretary or assistant secretary or any other individual or similar official thereof with substantially equivalent responsibilities of a Note Party. Any document delivered hereunder that is signed by a Responsible Officer of any Note Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership, limited liability company and/or other action on the part of such Note Party, and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Note Party.

"**Responsible Officer Certification**" means, with respect to the financial statements for which such certification is required, the certification of a Responsible Officer of the Issuer that such financial statements fairly present, in all material respects, in accordance with GAAP, the consolidated financial condition of such Issuer as at the dates indicated and its consolidated income and cash flows for the periods indicated, subject to changes resulting from audit and normal year-end adjustments.

"**Restricted Debt**" has the meaning set forth in <u>Section</u> <u>6.04(b)</u>.

"**Restricted Debt Payment**" has the meaning set forth in <u>Section</u> <u>6.04(b)</u>.

"**Restricted Payment**" means (a) any dividend or other distribution on account of any shares of any class of the Capital Stock of the Issuer, except a dividend payable solely in shares of Qualified Capital Stock to the holders of such class; (b) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value of any shares of any class of the Capital Stock of the Issuer and (c) any payment made to retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire shares of any class of the Capital Stock of the Issuer now or hereafter outstanding.

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"**Restricted Subsidiary**" means, as to any Person, any subsidiary of such Person that is not an Unrestricted Subsidiary. Unless otherwise specified, "Restricted Subsidiary" shall mean any Restricted Subsidiary of the Issuer.

"**Return Bid**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Revaluation Date**" shall mean with respect to any Alternative Currency Variable Note, each of the following: (i) each date occurring two Business Days prior to the date of a SOFR Borrowing of Variable Notes denominated in an Alternative Currency, (ii) each date of a continuation of a SOFR Variable Note denominated in an Alternative Currency pursuant to <u>Section</u> <u>2.08</u>, and (iii) the last Business Day of each Fiscal Quarter, and such additional dates as the Administrative Agent shall determine or the Required Variable Note Holders shall require.

"**S&P**" means S&P Global Ratings, and its successors and assigns.

"**Sagent Agreement**" means that certain letter agreement, dated as of November 1, 2023, by and between Sagent Pharmaceuticals and Indivior Inc. with respect to the reconveyance of certain real property described therein.

"**Sale and Lease-Back Transaction**" has the meaning assigned to such term in <u>Section</u> <u>6.08</u>.

"**Sanctions**" has the meaning assigned to such term in <u>Section</u> <u>3.19(a)</u>.

"**SEC**" means the Securities and Exchange Commission, or any Governmental Authority succeeding to any or all of its functions.

"**Secured Hedging Obligations**" means all Hedging Obligations (other than any Excluded Swap Obligations) under each Hedge Agreement that (a) is in effect on the Closing Date between any Note Party and a counterparty that is the Administrative Agent, a Holder or any Affiliate of the Administrative Agent or a Holder as of the Closing Date or (b) is entered into after the Closing Date between any Note Party and (i) any counterparty that is (or is an Affiliate of) the Administrative Agent or any Holder at the time such Hedge Agreement is entered into or (ii) a Permitted Hedge Counterparty, in each case, for which such Note Party agrees to provide security and in each case that has been designated to the Administrative Agent in writing by the Issuer as being a Secured Hedging Obligation for purposes of the Notes Documents, it being understood that each counterparty thereto shall be deemed (A) to appoint the Administrative Agent as its agent under the applicable Notes Documents and (B) to agree to be bound by the provisions of <u>Article 8</u>, <u>Section</u> <u>9.03</u> and <u>Section</u> <u>9.10</u> as if it were a Holder. For purposes of the preceding sentence, the Issuer may deliver a single notice designating all Hedging Obligations with respect to Derivative Transactions under a single master agreement as "Secured Hedging Obligations".

"**Secured Obligations**" means all Obligations, together with (a) all Banking Services Obligations, (b) all Secured Hedging Obligations and (c) all Erroneous Payment Subrogation Rights.

"**Secured Parties**" means (i) the Holders, (ii) the Administrative Agent, (iii) each counterparty to a Hedge Agreement with a Note Party the obligations under which constitute Secured Hedging Obligations, (iv) each provider of Banking Services to any Note Party the obligations under which constitute Banking Services Obligations and (v) the Indemnified Persons and any other beneficiaries of each indemnification obligation undertaken by any Note Party under any Notes Document and (vii) any Receiver.

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"**Securities**" means any stock, shares, partnership interests, voting trust certificates, certificates of interest or participation in any profit-sharing agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured or unsecured, convertible, subordinated or otherwise, or in general any instruments commonly known as "securities" or any certificates of interest, shares or participations in temporary or interim certificates for the purchase or acquisition of, or any right to subscribe to, purchase or acquire, any of the foregoing; <u>provided</u> that "Securities" shall not include any earn-out agreement or obligation or any employee bonus or other incentive compensation plan or agreement.

"**Securities Account**" has the meaning assigned to such term in the U.S. Security Agreement.

"**Security Trust Deed**" means each of (i) the English Security Trust Deeds, (ii) the Irish Security Trust Deed and (iii) if any, the Jersey Security Trust Instrument.

"**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).

"**SOFR Note**" means a Note that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (b) of the definition of "Alternate Base Rate".

"**SPC**" has the meaning assigned to such term in <u>Section</u> <u>9.05(e)</u>.

"**Special Purpose Securitization Subsidiary**" shall mean (i) a direct or indirect subsidiary of the Issuer established in connection with a Permitted Securitization Financing for the acquisition of Securitization Assets or interests therein, and which is designated (as provided below) as a "Special Purpose Securitization Subsidiary" (x) with which no Issuer, Holdings nor any of their Restricted Subsidiaries has any contract, agreement, arrangement or understanding (other than pursuant to the Permitted Securitization Documents (including with respect to fees payable in the ordinary course of business in connection with the servicing of accounts receivable and related assets)) on terms less favorable to such Issuer, Holdings or such Restricted Subsidiary than those that might be obtained at the time from persons that are not Affiliates of the Issuer (as determined by the Issuer in good faith) and (y) to which no Issuer, Holdings, nor any other Restricted Subsidiary has any obligation to maintain or preserve such entity's financial condition or cause

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such entity to achieve certain levels of operating results (other than as contemplated in the definition of "Permitted Securitization Financing") and (ii) any subsidiary of a Special Purpose Securitization Subsidiary. Any such designation shall be evidenced to the Administrative Agent by filing with the Administrative Agent an officer's certificate of the Issuer certifying that, to the best of such officer's knowledge and belief after consultation with counsel, such designation complied with the foregoing conditions.

"**Specified Acquisition Agreement Representations**" means in connection with any Limited Condition Acquisition, the representations and warranties made by or on behalf of the target of such Limited Condition Acquisition, its subsidiaries or their respective businesses in the applicable acquisition agreement which are material to the interest of the Holders, but only to the extent that the applicable Note Party has the right to terminate its obligations under such acquisition agreement or to decline to consummate such Limited Condition Acquisition as a result of a breach of such representations and warranties.

"**Specified Event of Default**" means an Event of Default under <u>Sections 7.01(a)</u>, <u>(c)</u> (to the extent resulting from a violation of <u>Section</u> <u>6.01</u>, <u>6.02</u>, <u>6.04</u>, <u>6.06</u>, <u>6.07</u> or <u>6.10</u>), <u>(f)</u>, <u>(g)</u> or <u>(k)(i)</u>.

"**Specified Financial Covenant**" has the meaning set forth in <u>Section</u> <u>6.14(c)(ii)</u>.

"**Specified Financial Covenant Default**" has the meaning set forth in <u>Section</u> <u>6.14(c)(ii)</u>.

"**Specified Representations**" means the representations and warranties set forth in <u>Section</u> <u>3.01(a)(i)</u>, <u>Section</u> <u>3.02</u> (as it relates to power and authority and the due authorization, execution, delivery and performance of the Notes Documents and the enforceability thereof), <u>Section</u> <u>3.03(b)(i)</u>, <u>Section</u> <u>3.08</u>, <u>Section</u> <u>3.12</u>, <u>Section</u> <u>3.14</u> (as it relates to the creation, validity and perfection of the security interests in the Collateral, to the extent same are required hereunder as of the Closing Date), <u>Section</u> <u>3.16</u> and <u>Section</u> <u>3.17</u>.

"**Specified Settlement Payments**" means, to the extent actually paid by the Issuer or its Subsidiaries, the litigation settlement payments owed to the U.S. Department of Justice outlined below:

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| | |
|:---|:---|
| **Payment Date** | **Payment Amount** |
|  January 2025 | $50000000 |
|  January 2026 | $50000000 |
|  January 2027 | $50000000 |
|  December 2027 | $100000000 |

---

"**Specified Transaction**" shall have the meaning ascribed to such term in <u>Section</u> <u>1.10(a)</u>.

"**Spot Rate**" for a currency shall mean the rate determined by the Administrative Agent to be the rate quoted by the person acting in such capacity as the spot rate for the purchase by such person of such currency with another currency through its principal foreign exchange trading office at approximately 11:00 a.m. Local Time on the date three Business Days prior to the date as of which the foreign exchange computation is made (or if such rate cannot be computed as of such date, such other date as the Administrative Agent shall reasonably determine is appropriate under the circumstances); <u>provided</u> that (x) the Spot Rate may, at the election of the Administrative Agent, be made on the date on which the foreign exchange computation is made for any payment actually made or to be made, or cash collateralization required, of any amounts pursuant to this Agreement (rather than the date which is three Business Days prior to such date), and (y) the Administrative Agent may obtain such spot rate from another financial institution designated by the Administrative Agent if the person acting in such capacity does not have as of the date of determination a spot buying rate for any such currency.

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"**Sterling**" or "**£**" shall mean the lawful currency of the United Kingdom.

"**Subject Person**" has the meaning assigned to such term in the definition of "Consolidated Net Income".

"**Subject Proceeds**" has the meaning assigned to such term in <u>Section</u> <u>2.11(b)(ii)</u>.

"**Subject Transactions**" has the meaning ascribed to such term in the definition of "Pro Forma Basis".

"**Subordinated Indebtedness**" means any Indebtedness of the Issuer or any of its Restricted Subsidiaries that is expressly subordinated in right of payment to the Obligations.

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

"**Subsidiary Guarantor**" means (x) on the Closing Date, each subsidiary of the Issuer (other than any subsidiary that is an Excluded Subsidiary on the Closing Date) and (y) thereafter, each subsidiary of the Issuer that guarantees the Secured Obligations pursuant to the terms of this Agreement, in each case, until such time as the relevant subsidiary is released from its obligations under the Note Guaranty in accordance with the terms and provisions hereof.

"**Substitute Affiliated Holder**" has the meaning assigned to such term in <u>Section</u> <u>9.05(i)(i)(B)</u>.

"**Substitute Facility Office**" has the meaning assigned to such term in <u>Section</u> <u>9.05(i)(i)(A)</u>.

"**Supplier**" has the meaning assigned to such term in <u>Section</u> <u>2.17(p)(ii)</u>.

"**Swap Obligations**" means, with respect to any Note Party, any obligation to pay or perform under any agreement, contract or transaction that constitutes a "swap" within the meaning of Section 1a(47) of the Commodity Exchange Act.

"**Tax Sharing Agreement**" means a contractual arrangement, a principal purpose of which is the sharing or allocation of or indemnification for, or nomination of responsibility for payment of, income or corporation income Taxes and shall not, for purposes of greater certainty, include commercial agreements entered into in the ordinary course of business and not principally concerning Taxes.

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"**Taxes**" means any and all present and future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority in any jurisdiction, including any interest, additions to tax, or penalties applicable thereto, and "**Tax**" shall have the corresponding meaning.

"**Termination Date**" has the meaning assigned to such term in the introductory paragraph to <u>Article</u> <u>5</u>.

"**Term Holder**" means (i) on the Closing Date, a Purchaser with an Initial Term Note Commitment and (ii) as of any other date of determination, a Holder with an Additional Term Note Commitment or an outstanding Initial Term Note or Additional Term Note as of such date.

"**Term Note**" means the Initial Term Notes and, if applicable, any Additional Term Notes.

"**Term SOFR**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for any calculation with respect to a SOFR Note, 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; <u>provided</u>, <u>however</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, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for any calculation with respect to an ABR Note on any day, the Term SOFR Reference Rate for a tenor of one month on the day (such day, the "**ABR 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; <u>provided</u>, <u>however</u>, that if as of 5:00 p.m. (New York City time) on any ABR 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 ABR SOFR Determination Day.

Notwithstanding anything to the contrary set forth above, if Term SOFR as so determined shall ever be less than the Floor, then Term SOFR shall be deemed to be the Floor.

"**Term SOFR Adjustment**" means, for any calculation with reflect to an ABR Loan or a SOFR Loan, a percentage equal to 0.25% per annum.

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"**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 Reference Rate**" means the forward-looking term rate based on SOFR.

"**Test Period**" means, as of any date, the period of four consecutive Fiscal Quarters then most recently ended for which financial statements under <u>Section</u> <u>5.01(a)</u> or <u>Section</u> <u>5.01(b)</u>, as applicable, have been delivered (or are required to have been delivered); it being understood and agreed that prior to the first delivery of financial statements of <u>Section</u> <u>5.01(a)</u>, "Test Period" means the most recent period of four consecutive Fiscal Quarters in respect of which financial statements were delivered pursuant to <u>Section</u> <u>4.01(c)</u>.

"**Third Party Payor**" means Medicare, Medicaid, TRICARE, Blue Cross and/or Blue Shield, private insurers, managed care plans and any other state or federal health care program sponsored, approved and/or administered by CMS.

"**Threshold Amount**" means $25,000,000.

"**TopCo**" means Indivior Pharmaceuticals, Inc., a Delaware corporation.

"**Total Leverage Ratio**" means the ratio, as of any date of determination, of (a) (i) Consolidated Total Debt outstanding as of such date *minus* (ii) Cash and Cash Equivalents of the Issuer and the other Note Parties in an amount not to exceed $50,000,000 to (b) Consolidated Adjusted EBITDA for the Test Period then most recently ended or the Test Period otherwise specified where the term "Total Leverage Ratio" is used in this Agreement in each case for Holdings and its Restricted Subsidiaries.

"**Total Variable Note Commitment**" means, at any time, the aggregate amount of the Variable Note Commitments, as in effect at such time.

"**Trade Date**" has the meaning assigned to such term in <u>Section</u> <u>9.05(f)(i)</u>.

"**Trademark**" means the following: (a) all trademarks (including service marks), common law marks, trade names, trade dress, Internet domain names and logos, slogans and other indicia of origin under the laws of any jurisdiction in the world, and the registrations and applications for registration thereof and the goodwill of the business symbolized by the foregoing; (b) all renewals of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due or payable with respect thereto, including, without limitation, damages, claims, and payments for past and future infringements thereof; (d) all rights to sue for past, present, and future infringements of the foregoing, including the right to settle suits involving claims and demands for royalties owing; and (e) all domestic rights corresponding to any of the foregoing.

"**Transaction Costs**" means fees, premiums, expenses and other transaction costs (including original issue discount or upfront fees) payable or otherwise borne by Indivior PLC and its Subsidiaries in connection with the Transactions and the transactions contemplated thereby.

"**Transactions**" means, collectively, (a) the execution, delivery and performance by the Note Parties of the Notes Documents to which they are a party and the Borrowing of Notes hereunder, (b) the Refinancing and (c) the payment of Transaction Costs.

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"**Transformational Event**" means any acquisition or investment by the Issuer or any Restricted Subsidiary that is either (a) not permitted by the terms of this Agreement immediately prior to the consummation of such acquisition or investment or (b) if permitted by the terms of this Agreement immediately prior to the consummation of such acquisition or investment, would not provide the Issuer and their Restricted Subsidiaries with adequate flexibility under this Agreement for the continuation and/or expansion of their combined operations following such consummation, as determined by the Issuer acting in good faith.

"**Treasury Capital Stock**" has the meaning assigned to such term in <u>Section</u> <u>6.04(a)(viii)</u>.

"**Treasury Regulations**" means the U.S. federal income tax regulations, including temporary and, to the extent taxpayers are permitted to rely on them, proposed regulations, promulgated under the Code, as such regulations may be amended from time to time.

"**TRICARE**" means the program administered pursuant to 10 U.S.C. Section 1071 et. seq), Sections 1320a-7 and 1320a-7a of Title 42 of the United States Code and the regulations promulgated pursuant to such statutes.

"**Type**", when used in reference to any Note or Borrowing, refers to whether the rate of interest on such Note, or on the Notes comprising such Borrowing, is determined by reference to Adjusted Term SOFR or (in the case of a Note or Borrowing denominated in Dollars) the Alternate Base Rate.

"**UCC**" means the Uniform Commercial Code as in effect from time to time in the State of New York or any other state the laws of which are required to be applied in connection with the issue or perfection of security interests.

"**UK Financial Institution**" means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form 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.

"**Unfunded Advances/Participations**" means with respect to the Administrative Agent, the aggregate amount, if any (i) made available to the Issuer on the assumption that each Holder has made available to the Administrative Agent such Holder's share of the applicable Borrowing available to the Administrative Agent as contemplated by <u>Section</u> <u>2.07(b)</u> and/or <u>Section</u> <u>2.18(d)</u> and (ii) with respect to which a corresponding amount shall not in fact have been returned to the Administrative Agent by such Issuer or made available to the Administrative Agent by any such Holder.

"**United Kingdom**" and "**U.K.**" mean the United Kingdom of Great Britain and Northern Ireland (or any jurisdiction within the United Kingdom).

"**U.K. Issuer**" means RBP Global with respect to a Note whose payments under that Note are treated for United Kingdom tax purposes as arising in the United Kingdom and "**U.K. Issuer**" shall have the corresponding meaning.

"**U.K. Tax Deduction**" means a deduction or withholding for or on account of Tax from payment under a Notes Document, other than any U.S. withholding tax under FATCA.

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"**Unrestricted Subsidiary**" means any subsidiary of the Issuer designated by the Issuer as an Unrestricted Subsidiary after the Closing Date pursuant to <u>Section</u> <u>5.10</u>. Notwithstanding the foregoing, in no circumstances shall the Issuer be permitted to be an Unrestricted Subsidiary.

"**Unused Variable Note Commitment**" of any Holder, at any time, means the Dollar Equivalent of the remainder of the Variable Note Commitment of such Holder at such time, if any, *less* the aggregate Outstanding Amount of Variable Notes purchased by such Holder.

"**U.S.**" means the United States of America.

"**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.

"**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. No. 107-56 (signed into law October 26, 2001)).

"**U.S. Security Agreement**" means the U.S. Security Agreement, substantially in the form of <u>Exhibit J</u>, among the Note Parties (to the extent that such Persons are incorporated or organized under (or own Capital Stock in, or any Material Debt Instrument issued by, any Person incorporated or organized under) the laws of the U.S., any state thereof or the District of Columbia) and the Administrative Agent for the benefit of the Secured Parties.

"**U.S. Tax Compliance Certificate**" has the meaning assigned to such term in <u>Section</u> <u>2.17(k)(ii)(B)(3)</u>.

"**Variable Note Commitment**" means, with respect to each Holder, the commitment of such Holder to make Variable Notes hereunder as set forth on Schedule 1.01(a), or in the Assignment and Assumption pursuant to which such Holder assumed its Variable Note Commitment, as applicable, as the same may be (a) reduced from time to time pursuant to <u>Section</u> <u>2.09</u>, <u>Section</u> <u>2.11</u>, <u>Section</u> <u>2.19</u> or <u>Section</u> <u>9.02(c)</u>, (b) reduced or increased from time to time pursuant to assignments by or to such Holder pursuant to <u>Section</u> <u>9.05</u> or (c) increased as part of an Incremental Variable Note. As of the Closing Date, the aggregate amount of the Variable Note Commitments is $50,000,000.

"**Variable Note Exposure**" means, with respect to any Holder at any time, the aggregate Outstanding Amount at such time of all Variable Notes of such Holder (calculated, in the case of Variable Notes denominated in an Alternative Currency, based on the Dollar Equivalent thereof).

"**Variable Note Holder**" means (i) on the Closing Date, a Purchaser with an Variable Note Commitment and (ii) as of any other date of determination, a Holder with an Additional Variable Note Commitment or an outstanding Variable Note or Additional Variable Note as of such date.

"**Variable Note Maturity Date**" means the date that is six years after the Closing Date. If such date is not a Business Day, the immediately preceding Business Day.

"**Variable Notes**" means the variable Notes issued by the Issuer to the Holders pursuant to <u>Section</u> <u>2.01(ii)</u>, <u>2.22</u>, <u>2.23</u> or <u>9.02(c)(ii)</u> and, with respect to a Variable Note Holder, means, at any time, such Variable Note Holders' Variable Note Commitments at such time.

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"**VAT**" means (a) any value added tax imposed by the Value Added Tax Act 1994; (b) any Tax imposed in compliance with the Council Directive of 28 November 2006 on the common system of value added tax (EC Directive 2006/112); and (c) any other Tax of a similar nature, whether imposed in a member state of the European Union in substitution for, or levied in addition to, the Tax referred to in clauses (a) and (b) above, or imposed elsewhere.

"**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 Subsidiary**" of any Person means a subsidiary of such Person, 100% of the Capital Stock of which (other than directors' qualifying shares or shares required by law to be owned by a resident of the relevant jurisdiction) shall be owned by such Person or by one or more Wholly-Owned Subsidiaries of such Person.

"**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.

Section 1.02 <u>Classification of Notes and Borrowings</u>. For purposes of this Agreement, Notes may be classified and referred to by Class (*e.g.*, a "Term Note") or by Type (*e.g.*, a "SOFR Note") or by currency (i.e. "Dollar Notes") or by Class and Type (*e.g.*, a "SOFR Term Note"). Borrowings also may be classified and referred to by Class (*e.g.*, a "Term Borrowing") or by Type (*e.g.*, a "SOFR Borrowing") or by currency (i.e. "Dollar Borrowings") or by Class and Type (*e.g.*, a "SOFR Term Borrowing").

Section 1.03 <u>Terms Generally</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words "include," "includes" and "including" shall be deemed to be followed by the phrase "without limitation." The word "will" shall be construed to have the same meaning and effect as the word "shall." Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein or in any Notes Document shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, amended and restated, supplemented or otherwise modified or extended, replaced or refinanced (subject to any restrictions or qualifications on such amendments, restatements, amendment and restatements, supplements or modifications or extensions, replacements or refinancings set forth herein), (b) any reference to any law in any Notes Document shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such law, (c) any reference herein or in any Notes Document to any Person shall be construed to include such Person's successors and permitted

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assigns, (d) the words "herein," "hereof" and "hereunder," and words of similar import, when used in any Notes Document, shall be construed to refer to such Notes Document in its entirety and not to any particular provision hereof, (e) all references herein or in any Notes Document to Articles, Sections, clauses, paragraphs, Exhibits and Schedules shall be construed to refer to Articles, Sections, clauses and paragraphs of, and Exhibits and Schedules to, such Notes Document, (f) in the computation of periods of time in any Notes Document from a specified date to a later specified date, the word "from" means "from and including", the words "to" and "until" mean "to but excluding" and the word "through" means "to and including" and (g) the words "asset" and "property", when used in any Notes Document, 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;(b) For purposes of determining compliance at any time with <u>Sections 6.01</u>, <u>6.02</u>, <u>6.04(a)</u> and <u>6.06</u>, in the event that any Indebtedness, Lien, Restricted Payment or Investment, as applicable, meets the criteria of more than one of the categories of transactions or items permitted pursuant to any clause of such <u>Sections 6.01</u> (other than <u>Sections 6.01(a)</u>, <u>(i)</u>, <u>(p)</u> (to the extent relating to Indebtedness incurred under <u>Section</u> <u>6.01(a)</u>, <u>(i)</u>, <u>(q)</u>, <u>(w)</u> or <u>(z)</u> (or, in each case, permitted refinancing Indebtedness with respect thereto)) <u>(q)</u>, <u>(w)</u> and <u>(z)</u>, and so long as in no circumstances shall Indebtedness owing to Holdings, the Issuer or any Restricted Subsidiary be justified as incurred or outstanding under <u>Section</u> <u>6.01(a),</u> <u>(q)</u>, <u>(p)</u> (to the extent relating to Indebtedness incurred under <u>Section</u> <u>6.01(a)</u>, <u>(q)</u>, <u>(w)</u> or <u>(z)</u> (or, in each case, permitted refinancing Indebtedness or successive permitted refinancing Indebtedness with respect thereto)), <u>(q)</u>, <u>(w)</u> or <u>(z)</u>), <u>6.02</u> (other than <u>Sections 6.02(a)</u>, <u>(k)</u> (to the extent relating to Liens incurred under <u>Section</u> <u>6.02(a)</u>, <u>(l)</u>, <u>(q)</u> <u>(t)</u> or <u>(jj)</u> (or, in each case, modifications, replacements, refinancings, renewals and extensions thereof)), <u>(o)</u>, <u>(t)</u> and <u>(jj)</u>), <u>6.04(a)</u> and <u>6.06</u> (other than <u>Section</u> <u>6.06(f)</u>), the Issuer, in their sole discretion, may, from time to time, classify, reclassify or divide (and reclassify and redivide) such transaction or item (or portion thereof) under one or more clauses of each such Section set forth above (but not across different Section) and will only be required to include the amount and type of such transaction (or portion thereof) in any one category so long as such transaction (or portion thereof) would be permitted under such other exception at the time of such redesignation. It is understood and agreed that any Indebtedness, Lien, Restricted Payment, Restricted Debt Payment, Investment, Disposition and/or Affiliate transaction need not be permitted solely by reference to one category of permitted Indebtedness, Lien, Restricted Payment, Restricted Debt Payment, Investment, Disposition and/or Affiliate transaction under <u>Sections 6.01</u>, <u>6.02</u>, <u>6.04</u>, <u>6.05</u>, <u>6.06</u>, <u>6.07</u> or <u>6.09</u>, respectively, but may instead be permitted in part under any combination thereof.

Section 1.04 <u>Accounting Terms; GAAP</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All financial statements to be delivered pursuant to this Agreement shall be prepared in accordance with GAAP as in effect from time to time and, except as otherwise expressly provided herein, all terms of an accounting or financial nature that are used in calculating the Total Leverage Ratio, the First Lien Leverage Ratio, Consolidated Adjusted EBITDA or Consolidated Total Assets shall be construed and interpreted in accordance with GAAP, as in effect from time to time; <u>provided</u> that if the Issuer notifies the Administrative Agent that the Issuer requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date of delivery of the financial statements described in <u>Section</u> <u>3.04(a)</u> in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Issuer that the Required Holders 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 becomes effective until such notice shall have been withdrawn or such provision amended in accordance herewith; <u>provided</u>, <u>further</u>, that if such an amendment is requested by the Issuer or the Required Holders, then the Issuer and the Administrative Agent shall negotiate in good faith to enter into an amendment of the relevant affected provisions (without the payment

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of any amendment or similar fee to the Holders) to preserve the original intent thereof in light of such change in GAAP or the application thereof; <u>provided</u>, <u>further</u>, that all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made without giving effect to (i) any election under Accounting Standards Codification 825-10-25 (previously referred to as Statement of Financial Accounting Standards 159) (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of Holdings, the Issuer or any subsidiary at "fair value", as defined therein and (ii) any treatment of Indebtedness in respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding anything to the contrary herein, but subject to <u>Section</u> <u>1.12</u>, all financial ratios and tests (including the Total Leverage Ratio, the First Lien Leverage Ratio and the amount of Consolidated Total Assets and Consolidated Adjusted EBITDA) contained in this Agreement that are calculated with respect to any Test Period during which any Subject Transaction occurs shall be calculated with respect to such Test Period and such Subject Transaction on a Pro Forma Basis. Further, if since the beginning of any such Test Period and on or prior to the date of any required calculation of any financial ratio or test (x) any Subject Transaction has occurred or (y) any Person that subsequently became a Restricted Subsidiary or was merged, amalgamated or consolidated with or into the Issuer or any of its Restricted Subsidiaries or any joint venture since the beginning of such Test Period has consummated any Subject Transaction, then, in each case, any applicable financial ratio or test shall be calculated on a Pro Forma Basis for such Test Period as if such Subject Transaction had occurred at the beginning of the applicable Test Period (it being understood, for the avoidance of doubt, that solely for purposes of calculating the Total Leverage Ratio for purposes of the definitions of "Applicable Rate", in each case, the date of the required calculation shall be the last day of the Test Period, and no Subject Transaction occurring thereafter shall be taken into account).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything to the contrary contained in <u>paragraph (a)</u> above or in the definition of "Capital Lease", in the event of an accounting change requiring all leases to be capitalized, only those leases (assuming for purposes hereof that such leases were in existence on the date hereof) that would constitute Capital Leases in conformity with GAAP on the date hereof shall be considered Capital Leases, and all calculations and deliverables under this Agreement or any other Notes Document shall be made or delivered, as applicable, in accordance therewith (<u>provided</u> that together with all financial statements delivered to the Administrative Agent in accordance with the terms of this Agreement after the date of any such accounting change, the Issuer shall deliver a schedule showing the adjustments necessary to reconcile such financial statements with GAAP as in effect immediately prior to such accounting change).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding anything to the contrary contained herein, any reference to Regulation S-X of the Securities Act of 1933 or action taken in reliance thereof shall be treated as references to Regulation S-X as in effect prior to January 1, 2021.

Section 1.05 <u>Effectuation of Transactions</u>. Each of the representations and warranties contained in this Agreement (and all corresponding definitions) is made after giving effect to the Transactions (or in the case of representations and warranties to be made on the Closing Date, such portions of the Transactions as have been or are to be consummated on or prior to such date), unless the context otherwise requires.

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Section 1.06 <u>Timing of Payment of Performance</u>. When payment of any obligation or the performance of any covenant, duty or obligation is stated to be due or 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, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension.

Section 1.07 <u>Exchange Rates; Currency Equivalents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Administrative Agent shall determine the Spot Rates as of each Revaluation Date to be used for calculating Dollar Equivalent and Alternative Currency Equivalent (as applicable) amounts of Variable Notes, and any other applicable amount denominated in currencies other than Dollars. Such Spot Rates shall become effective as of such Revaluation Date and shall be the Spot Rates employed in converting any amounts between the applicable currencies until the next Revaluation Date to occur. Except for purposes of financial statements delivered by Note Parties hereunder or calculating financial covenants hereunder or except as otherwise provided herein, the applicable amount of any currency (other than Dollars) for purposes of the Notes Documents shall be such Dollar Equivalent amount as so determined by the Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Wherever in this Agreement in connection with a Borrowing under the Variable Note, continuation or prepayment of a Variable Note or the assignment of any Note or Commitment denominated in any Alternative Currency, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but such Borrowing, Note or Commitment is denominated in an Alternative Currency, such amount shall be the relevant Alternative Currency Equivalent of such Dollar amount (rounded to the nearest unit of such Alternative Currency, with 0.5 of a unit being rounded upward), as determined by the Administrative Agent.

Section 1.08 <u>Additional Alternative Currencies</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Issuer may from time to time request that Variable Notes be made be issued in a currency other than those specifically listed in the definition of "Alternative Currency"; <u>provided</u> that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Variable Notes, such request shall be subject to the approval of the Administrative Agent and all of the Variable Note Holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., Local Time, 20 Business Days prior to the date of the desired Note Issuance (or such other time or date as may be agreed by the Administrative Agent). In the case of any such request pertaining to Variable Notes, the Administrative Agent shall promptly notify each Variable Note Holder thereof. Each Variable Note Holder shall notify the Administrative Agent, not later than 11:00 a.m., Local Time, ten Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Variable Notes in such requested currency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any failure by a Holder to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Holder to permit Variable Notes to be made in such requested currency. If the Administrative Agent and all the Variable Note Holders consent to making Variable Notes in such requested currency, the Administrative Agent shall so notify the Issuer and such currency shall (subject to any amendments to this Agreement as may be required pursuant to <u>Section</u> <u>9.02(e)</u>) thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Variable Note Borrowings. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.08, the Administrative Agent shall promptly so notify the Issuer.

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Section 1.09 <u>Times of Day</u>. Unless otherwise specified, all references herein to times of day shall be references to New York City time (daylight or standard, as applicable).

Section 1.10 <u>Currency Generally</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) For purposes of any determination under <u>Article</u> <u>5</u>, <u>Article 6</u> (other than <u>Section</u> <u>6.14</u> and the calculation of compliance with any financial ratio for purposes of taking any action hereunder) or <u>Article 7</u> with respect to the amount of any Indebtedness, Lien, Restricted Payment, Restricted Debt Payment, Investment, Disposition, Sale and Lease-Back Transaction, affiliate transaction or other transaction, event or circumstance, or any determination under any other provision of this Agreement (other than in connection with any Variable Notes denominated in any Alternative Currency) (any of the foregoing, a "**Specified Transaction**"), in a currency other than Dollars, (i) the Dollar equivalent amount of a Specified Transaction in a currency other than Dollars shall be calculated based on the rate of exchange quoted by the Bloomberg Foreign Exchange Rates & World Currencies Page (or any successor page thereto, or in the event such rate does not appear on any Bloomberg Page, by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent and the Issuer) for such foreign currency, as in effect at 11:00 a.m. (London time) on the date of such Specified Transaction (which, in the case of any Restricted Payment, shall be deemed to be the date of the declaration thereof and, in the case of the incurrence of Indebtedness, shall be deemed to be on the date first committed); <u>provided</u> that if any Indebtedness is incurred (and, if applicable, associated Lien granted) to refinance or replace other Indebtedness denominated in a currency other than Dollars, and the relevant refinancing or replacement would cause the applicable Dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing or replacement, such Dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing or replacement Indebtedness (and, if applicable, associated Lien granted) does not exceed an amount sufficient to repay the principal amount of such Indebtedness being refinanced or replaced, except by an amount equal to (x) unpaid accrued interest and premiums (including tender premiums) thereon *plus* other reasonable and customary fees and expenses (including upfront fees and original issue discount) incurred in connection with such refinancing or replacement, (y) any existing commitments unutilized thereunder and (z) additional amounts permitted to be incurred under <u>Section</u> <u>6.01</u> (so long as any such additional amounts are justified under and incurred in accordance with one or more of the applicable exceptions to <u>Section</u> <u>6.01</u> (other than <u>Section</u> <u>6.01(p)</u>) and (ii) for the avoidance of doubt, no Default or Event of Default shall be deemed to have occurred solely as a result of a change in the rate of currency exchange occurring after the time of any Specified Transaction so long as such Specified Transaction was permitted at the time incurred, made, acquired, committed, entered or declared as set forth in <u>clause</u> <u>(i)</u>. For purposes of <u>Section</u> <u>6.14</u> and the calculation of compliance with any financial ratio for purposes of taking any action hereunder (other than in connection with any Variable Notes denominated in any Alternative Currency), on any relevant date of determination, amounts denominated in currencies other than Dollars shall be (other than in connection with any Variable Notes denominated in any Alternative Currency) translated into Dollars at the applicable currency exchange rate used in preparing the financial statements delivered pursuant to <u>Section</u> <u>5.01(a)</u> or <u>(b)</u>, as applicable, for the relevant Test Period and will, with respect to any Indebtedness, reflect the currency translation effects, determined in accordance with GAAP, of any Hedge Agreement permitted hereunder in respect of currency exchange risks with respect to the applicable currency in effect on the date of determination for the Dollar equivalent amount of such Indebtedness.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify with the Issuer's consent to appropriately reflect a change in currency of any country and any relevant market convention or practice relating to such change in currency.

Section 1.11 <u>Cashless Rollovers</u>. Notwithstanding anything to the contrary contained in this Agreement or in any other Notes Document, to the extent that any Holder extends the maturity date of, or replaces, renews or refinances, any of its then**-**existing Notes with Incremental Notes, Replacement Term Notes, Notes in connection with any Replacement Variable Note, Extended Term Notes, Extended Variable Notes or notes incurred under a new note purchase agreement, in each case, to the extent such extension, replacement, renewal or refinancing is effected by means of a "cashless roll" by such Holder, such extension, replacement, renewal or refinancing shall be deemed to comply with any requirement hereunder or any other Notes Document that such payment be made "in Dollars", "in immediately available funds", "in Cash" or any other similar requirement.

Section 1.12 <u>Certain Calculations and Tests</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding anything to the contrary herein, to the extent that the terms of this Agreement require (i) compliance with any financial ratio or test (including, without limitation, any First Lien Leverage Ratio test, any Total Leverage Ratio test) and/or the amount of Consolidated Adjusted EBITDA or Consolidated Total Assets or (ii) the absence of a Default or Event of Default (or any type of Default or Event of Default) as a condition to (A) the making of any Restricted Payment and/or (B) the making of any Restricted Debt Payment, the determination of whether the relevant condition is satisfied may be made, at the election of the Issuer, (1) in the case of any Restricted Payment, at the time of (or on the basis of the financial statements for the most recently ended Test Period at the time of) (x) the declaration of such Restricted Payment so long as such Restricted Payment is actually made within 60 days of the declaration thereof or (y) the making of such Restricted Payment and (2) in the case of any Restricted Debt Payment, at the time of (or on the basis of the financial statements for the most recently ended Test Period at the time of) (x) delivery of irrevocable (which may be conditional) notice with respect to such Restricted Debt Payment so long as such Restricted Debt Payment is actually made within 60 days of the delivery of such notice or (y) the making of such Restricted Debt Payment, in each case, after giving effect to the relevant acquisition, Restricted Payment and/or Restricted Debt Payment on a Pro Forma Basis; <u>provided</u> that if the Issuer has made such an election, in connection with the calculation of any ratio, test or basket with respect to the incurrence of any Indebtedness (including any Incremental Facilities) or Liens, or the making of any Investments, Restricted Payments, Restricted Debt Payments, Dispositions, fundamental changes or the designation of a Restricted Subsidiary or Unrestricted Subsidiary on or following such date and prior to the earlier of the date on which such Restricted Payment or Restricted Debt Payment (as applicable) is made, any such ratio, test or basket shall be calculated on a Pro Forma Basis assuming such Restricted Payment or Restricted Debt Payment (as applicable) and other pro forma events in connection therewith (including any incurrence of Indebtedness) have been consummated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For purposes of determining the permissibility of any action, change, transaction or event that requires a calculation of any financial ratio or test (including, without limitation, any First Lien Leverage Ratio test, any Total Leverage Ratio test and/or the amount of Consolidated Adjusted EBITDA or Consolidated Total Assets), such financial ratio or test shall be calculated at the time such action is taken (subject to <u>clause (a)</u> above), such change is made, such transaction is consummated or such event occurs, as the case may be, and no Default or Event of Default shall be deemed to have occurred solely as a result of a change in such financial ratio or test occurring after the time such action is taken, such change is made, such transaction is consummated or such event occurs, as the case may be.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything to the contrary herein, with respect to any amounts incurred or transactions entered into (or consummated) in reliance on a provision of this Agreement that does not require compliance with a financial ratio based test (including, without limitation, any First Lien Leverage Ratio test and/or any Total Leverage Ratio test) but that does require compliance with a fixed dollar basket (any such amounts, the "**Fixed Amounts**") substantially concurrently with any amounts incurred or transactions entered into (or consummated) in reliance on a provision of this Agreement that requires compliance with a financial ratio based test (including, without limitation, any First Lien Leverage Ratio test and/or any Total Leverage Ratio test) (any such amounts, the "**Incurrence-Based Amounts**"), it is understood and agreed that the Fixed Amounts shall be disregarded in the calculation of the financial ratio or test applicable to the Incurrence-Based Amounts.

Section 1.13 <u>Rounding</u>. Any financial ratios required to be maintained by the Issuer 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 for five).

Section 1.14 <u>Benchmark Replacement</u>. The Administrative Agent does not warrant nor accept any responsibility for, and shall not have any liability with respect to (a) the continuation of, administrative of, submission of, calculation of or any other matter related to Alternate Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR 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, Alternate Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR, 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 Alternate Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR, 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 Issuer. The Administrative Agent may select information sources or services in its reasonable discretion to ascertain Alternate Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR, Term SOFR or any other Benchmark, in each case pursuant to the terms of this Agreement, and shall have no liability to the Issuer, any Holder 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 1.15 <u>Irish Terms</u>. In this Agreement, where it relates to an Irish Note Party, a reference to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "unable to pay its debts" will be deemed to mean unable to pay its debts within the meaning of Section 570(d) of the Irish Companies Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the term "examiner" shall have the meaning given to it in Section 508(1) of the Irish Companies Act and the term "examinership" shall be construed in accordance with the Irish Companies Act.

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Section 1.16 <u>Special Luxembourg Provisions</u>

Without prejudice to the generality of any provision of this Agreement, to the extent this Agreement relates to any Lux Note Party, a reference to (a) a receiver, administrative receiver, administrator, trustee, custodian, sequestrator, conservator or similar officer appointed for the reorganization or liquidation of the business of a person includes, without limitation, a *juge délégué, commissaire, juge-commissaire, mandataire ad hoc, administrateur provisoire, liquidateur or curateur*, (b) a lien or security interest includes any *hypothèque, nantissement, gage, privilège, sûreté réelle, droit de rétention* and any type of security *in rem* (*sûreté réelle*) or agreement or arrangement having a similar effect and any transfer of title by way of security, (c) a Person being unable to pay its debts includes that person being in a state of *cessation de paiements*; (d) creditors process means an executory attachment (*saisie exécutoire*) or conservatory attachment (*saisie conservatoire*), (e) by-laws or constitutional documents includes its up-to-date (restated) articles of association (*statuts coordonnés*), and (f) a director includes an *administrateur* or a *gérant*.

Section 1.17 <u>Special Jersey Provisions</u>

Without prejudice to the generality of any provision of this Agreement, to the extent this Agreement relates to any Jersey Group Member or a Note Party that has tangible immovable property in Jersey, a reference to (a) a composition, compromise, assignment or arrangement with any creditor, winding up, liquidation, administration, dissolution, insolvency event or insolvency includes, without limitation, bankruptcy (as that term is interpreted pursuant to Article 8 of the Interpretation (Jersey) Law 1954), a compromise or arrangement of the type referred to in Article 125 of the Companies (Jersey) Law 1991 and any procedure or process referred to in Part 21 of the Companies (Jersey) Law 1991, (b) a *liquidator, receiver, administrative receiver, administrator* or the like includes, without limitation, the Viscount of the Royal Court of Jersey, *Autorisés* or any other person performing the same function of each of the foregoing, (c) a security interest includes, without limitation, any *hypothèque* whether conventional, judicial or arising by operation of law and any security interest created pursuant to the Security Interests (Jersey) Law 1983 or Security Interests (Jersey) Law 2012 and any related legislation (d) any equivalent or analogous procedure or step being taken in connection with insolvency includes any corporate action, legal proceedings or other formal procedure or step being taken in connection with an application for a declaration of *en désastre* being made in respect of any assets of such person (or the making of such declaration) and (e) constitutional documents includes all consents issued to that entity pursuant to the Control of Borrowing (Jersey) Order 1958.

ARTICLE 2

THE NOTES

Section 2.01 <u>Commitments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to the terms and conditions set forth herein, the Issuer hereby agrees to issue and sell to each Holder and (i) each Term Holder severally, and not jointly, agrees to purchase from the Issuer the Initial Term Notes to the Issuer on the Closing Date in Dollars in a principal amount not to exceed its Initial Term Note Commitment and (ii) each Variable Note Holder severally, and not jointly, agrees to purchase from the Issuer the Variable Notes to the Issuer at any time and from time to time on and after the Closing Date, and until the earlier of the Variable Note Maturity Date and the termination of the Variable Note Commitment of such Variable Note Holder in accordance with the terms hereof, in Dollars or one or more Alternative Currencies, <u>provided</u> that (i) after giving effect to any Borrowing of Variable Notes, the Dollar Equivalent of the Outstanding Amount of such Variable Note Holder's Variable Note Exposure shall not exceed such Variable Note Holder's Variable Note Commitment and (ii) after giving effect to any Borrowing of Variable Notes in an Alternative Currency, the Dollar Equivalent of the Outstanding Amount of all Variable Note denominated in such Alternative Currency shall not exceed the applicable Alternative Currency Sublimit. Within the foregoing limits and subject to the terms, conditions and limitations set forth herein, the Issuer may borrow, pay or prepay and reborrow Variable Notes.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Amounts paid or prepaid in respect of the Term Notes may not be reborrowed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The failure of any Holder to purchase its Note shall not relieve any other Holder of its obligation to purchase its Note, but no Holder shall be responsible for the failure of any other Holder to purchase such other Holder's Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Administrative Agent, on behalf of each Holder, shall record in its records the date and amount of each Note and each repayment thereof. The aggregate unpaid principal amount so recorded shall be rebuttably presumptive evidence of the principal amount of the Notes outstanding. The failure to so record any such amount or any error in so recording any such amount shall not, however, limit or otherwise affect the Obligations of the Issuer or Note Party hereunder or under any Note to repay the principal amount of the Notes hereunder, together with all interest accruing thereon.

Section 2.02 <u>Notes and Borrowings</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Note shall be made as part of a Borrowing consisting of Notes of the same Class, currency and Type purchased by the Holders ratably in accordance with their respective Commitments of the applicable Class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to <u>Section</u> <u>2.01</u> and <u>Section</u> <u>2.14</u>, each Borrowing shall be comprised entirely of ABR Notes or SOFR Notes as the applicable Issuer may request in accordance herewith; <u>provided</u> that each ABR Note shall only be made in Dollars. Each Holder at its option may make any SOFR Note by causing any domestic or foreign branch or Affiliate of such Holder to make such Note; <u>provided</u> that (i) any exercise of such option shall not affect the obligation of the applicable Issuer to repay such Note in accordance with the terms of this Agreement, (ii) such SOFR Note shall be deemed to have been made and held by such Holder, and the obligation of the applicable Issuer to repay such SOFR Note shall nevertheless be to such Holder for the account of such domestic or foreign branch or Affiliate of such Holder and (iii) in exercising such option, such Holder shall use reasonable efforts to minimize increased costs to the Issuer resulting therefrom (which obligation of such Holder shall not require it to take, or refrain from taking, actions that it determines would result in increased costs for which it will not be compensated hereunder or that it otherwise determines would be disadvantageous to it and in the event of such request for costs for which compensation is provided under this Agreement, the provisions of <u>Section</u> <u>2.15</u> shall apply); <u>provided</u> <u>further</u> that any such domestic or foreign branch or Affiliate of such Holder shall not be entitled to any greater indemnification under <u>Section</u> <u>2.17</u> with respect to such SOFR Note than that to which the applicable Holder was entitled on the date on which such Note was made (except in connection with any indemnification entitlement arising as a result of a Change in Law after the date on which such Note was made).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) At the commencement of each Interest Period for any Borrowing of Variable Notes, such Borrowing shall comprise an aggregate principal amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum; <u>provided</u> that an ABR Variable Note Borrowing may be made in a lesser aggregate amount that is equal to the entire aggregate Unused Variable Note Commitments. Borrowings of more than one Type and Class may be outstanding at the same time; <u>provided</u> that there shall not at any time be more than a total of 10 different Interest Periods in effect for SOFR Borrowings at any time outstanding (or such greater number of different Interest Periods as the Administrative Agent may agree from time to time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding any other provision of this Agreement, no Issuer shall, nor shall the Issuer be entitled to, request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date applicable to such Notes.

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Section 2.03 <u>Requests for Borrowings</u>. Each Borrowing of Term Notes, each Borrowing of Variable Notes, each conversion of Term Notes or Variable Notes from one Type to the other, and each continuation of SOFR Notes shall be made upon irrevocable notice by the applicable Issuer to the Administrative Agent. Each such notice must be in writing and must be received by the Administrative Agent (by hand delivery, fax or other electronic transmission (including ".pdf" or ".tif")) not later than 12:00 p.m., Local Time, (i) three Business Days prior to the requested day of any Borrowing, conversion or continuation of SOFR Notes denominated in Dollars, (ii) on the requested date of any Borrowing of ABR Notes denominated in Dollars, or (iii) five Business Days prior to the requested day of any Borrowing, conversion or continuation of SOFR Notes denominated in an Alternative Currency (or, in the case of <u>clause (iii)</u>, such later time as shall be acceptable to the Administrative Agent). Each written notice with respect to a Borrowing by the applicable Issuer pursuant to this <u>Section</u> <u>2.03</u> shall be delivered to the Administrative Agent in the form of a written Borrowing Request, appropriately completed and signed by a Responsible Officer of the applicable Issuer. Each such written Borrowing Request shall specify the following information in compliance with <u>Section</u> <u>2.02</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Class of such Borrowing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the aggregate principal amount of the requested Borrowing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the date of such Borrowing, 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;(d) whether such Borrowing is to be an ABR Borrowing or a SOFR Borrowing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) in the case of a SOFR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term "Interest Period";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the currency of such Borrowing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the location and number of the applicable Issuer's account or any other designated account(s) to which funds are to be disbursed (the "**Funding Account**").

If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing (unless the requested Borrowing is of Variable Notes denominated in an Alternative Currency, in which case the requested Borrowing shall be ineffective). If no Interest Period is specified with respect to any requested SOFR Borrowing, then the applicable Issuer shall be deemed to have selected an Interest Period of one month's duration. If no currency is specified with respect to any Borrowing of Variable Notes, then the applicable Issuer shall be deemed to have selected Dollars. The Administrative Agent shall advise each Holder of the details thereof and of the amount of the Note to be made as part of the requested Borrowing (x) in the case of any ABR Borrowing, on the same Business Day of receipt of a Borrowing Request in accordance with this <u>Section</u> <u>2.03</u> or (y) in the case of any SOFR Borrowing, no later than one Business Day following receipt of a Borrowing Request in accordance with this <u>Section</u> <u>2.03</u>.

Section 2.04 <u>[Reserved]</u>.

Section 2.05 <u>[Reserved]</u>.

Section 2.06 [<u>Reserved</u>].

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Section 2.07 <u>Funding of Borrowings</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Holder shall purchase each Note to be purchased by it hereunder on the proposed date thereof by wire transfer of immediately available funds by 1:00 p.m., Local Time, in the case of any Note denominated in Dollars, and not later than the Applicable Time specified by the Administrative Agent in the case of any Variable Note denominated in an Alternative Currency, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Holders in an amount equal to such Holder's respective Applicable Percentage. The Administrative Agent will make such Notes available to the applicable Issuer by promptly crediting the amounts so received, in like funds, to the Funding Account or as otherwise directed by the applicable Issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Unless the Administrative Agent has received written notice from any Holder prior to the proposed date of any Borrowing that such Holder will not make available to the Administrative Agent such Holder's share of such Borrowing, the Administrative Agent may assume that such Holder has made such share available on such date in accordance with <u>paragraph (a)</u> of this <u>Section</u> <u>2.07</u> and may, in reliance upon such assumption, make available to the applicable Issuer a corresponding amount. In such event, if any Holder has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Holder and the applicable Issuer severally agree to pay to the Administrative Agent forthwith on demand (without duplication) such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the applicable Issuer(s) to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Holder, 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 (including, without limitation, the Overnight Foreign Currency Rate in the case of Variable Notes denominated in an Alternative Currency) or (ii) in the case of such Issuer, the interest rate applicable to Notes comprising such Borrowing at such time. If such Holder pays such amount to the Administrative Agent, then such amount shall constitute such Holder's Note included in such Borrowing and such Issuer's obligation to repay the Administrative Agent such corresponding amount pursuant to this <u>Section</u> <u>2.07(b)</u> shall cease. If such Issuer pays such amount to the Administrative Agent, the amount so paid shall constitute a repayment of such Borrowing by such amount. Nothing herein shall be deemed to relieve any Holder from its obligation to fulfill its Commitment or to prejudice any rights which the Administrative Agent or the Issuer or any other Note Party may have against any Holder as a result of any default by such Holder hereunder.

Section 2.08 <u>Type; Interest Elections</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a SOFR Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the applicable Issuer may elect to convert any Borrowing to a Borrowing of a different Type or to continue such Borrowing and, in the case of a SOFR Borrowing, may elect Interest Periods therefor, all as provided in this <u>Section</u> <u>2.08</u>. The applicable Issuer may elect different Types with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the applicable Holders based upon their Applicable Percentages and the Notes comprising each such portion shall be considered a separate Borrowing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To make an election pursuant to this <u>Section</u> <u>2.08</u>, the applicable Issuer shall notify the Administrative Agent of such election in writing in the form of an Interest Election Request (by hand delivery, fax or other electronic transmission (including ".pdf" or ".tif")) by the time that a Borrowing Request would be required under <u>Section</u> <u>2.03</u> if such Issuer were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery, e-mail or other electronic transmission (including ".pdf" or ".tif") to the Administrative Agent of a written Interest Election Request signed by a Responsible Officer of such Issuer.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each written Interest Election Request shall specify the following information in compliance with <u>Section</u> <u>2.02</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;(i) the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to <u>clauses (iii)</u> and <u>(iv)</u> below shall be specified for each resulting 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;(ii) the effective date of the election made pursuant to such Interest Election Request, 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;&nbsp;&nbsp;&nbsp;&nbsp;(iii) whether the resulting Borrowing is to be an ABR Borrowing or a SOFR Borrowing; 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;(iv) if the resulting Borrowing is a SOFR Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term "Interest Period".

If any such Interest Election Request requests a SOFR Borrowing but does not specify an Interest Period, then the applicable Issuer shall be deemed to have selected an Interest Period of one month's duration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each applicable Holder of the details thereof and of such Holder's portion of each resulting Borrowing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If any applicable Issuer fails to deliver a timely Interest Election Request with respect to a SOFR Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, such Borrowing shall be converted at the end of such Interest Period to a SOFR Borrowing with an Interest Period of one month. Notwithstanding any contrary provision hereof, if an Event of Default exists and the Administrative Agent, at the request of the Required Holders, so notifies the Issuer, then, so long as such Event of Default exists (i) no outstanding Borrowing may be converted to or continued as a SOFR Borrowing and (ii) unless repaid, each SOFR Borrowing shall be converted to an ABR Borrowing (and any such SOFR Borrowing denominated in an Alternative Currency shall bear interest at the applicable Overnight Foreign Currency Rate plus the Applicable Rate) at the end of the then-current Interest Period applicable thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) No Borrowing of Variable Notes may be continued as a Borrowing of Variable Notes denominated in a different currency, but instead must be prepaid in the original currency of such Borrowing of Variable Notes and, subject to the requirements of this Article II and <u>Section</u> <u>4.02</u>, reborrowed in the other currency. No Borrowing of Term Notes may be continued as a Borrowing of Term Notes denominated in a different currency.

Section 2.09 <u>Termination and Reduction of Commitments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Initial Term Note Commitments shall automatically terminate upon the funding of the Initial Term Notes on the Closing 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;(b) Upon delivering the notice required by <u>Section</u> <u>2.09(d)</u>, the Issuer may at any time terminate the Variable Note Commitments upon (i) the payment in full in Cash of all outstanding Variable Notes, together with accrued and unpaid interest thereon and (ii) the payment in full of all accrued and unpaid fees and all reimbursable expenses and other non-contingent Obligations with respect to the Variable Note then due, together with accrued and unpaid interest (if any) thereon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Upon delivering the notice required by <u>Section</u> <u>2.09(d)</u>, the Issuer may from time to time reduce the Variable Note Commitments; <u>provided</u> that (i) each reduction of the Variable Note Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $1,000,000 and (ii) the Issuer shall not reduce the Variable Note Commitments if, after giving effect to any concurrent prepayment of the Variable Notes in accordance with <u>Section</u> <u>2.10</u> or <u>Section</u> <u>2.11</u>, the Aggregate Variable Note Exposure would exceed the Total Variable Note Commitment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Issuer shall notify the Administrative Agent of any election to terminate or reduce the Variable Note Commitments under <u>paragraph</u> <u>(b)</u> or <u>(c)</u> of this <u>Section</u> <u>2.09</u> in writing at least three Business Days prior to the effective date of such termination or reduction (or such later date to which the Administrative Agent may agree), specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Variable Note Holders of the contents thereof. Each notice delivered by the Issuer pursuant to this <u>Section</u> <u>2.09</u> shall be irrevocable; <u>provided</u> that a notice of termination of the Variable Note Commitments delivered by the Issuer may state that such notice is conditioned upon the effectiveness of other transactions, in which case such notice may be revoked by the Issuer (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Variable Note Commitments pursuant to this <u>Section</u> <u>2.09</u> shall be permanent. Upon any reduction of the Variable Note Commitments, the Variable Note Commitment of each Variable Note Holder shall be reduced by such Variable Note Holder's Applicable Percentage of such reduction amount.

Section 2.10 <u>Repayment of Notes; Evidence of Debt</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Issuer hereby, jointly and severally, unconditionally promise to repay each the Initial Term Notes, to the Administrative Agent for the account of each Term Holder with an Initial Term Note Commitment commencing March 31, 2025, on the last Business Day of each March, June, September and December (each such date being referred to as a "**Note Installment Date**") in accordance with the following schedule:

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| | |
|:---|:---|
| Payment Date | Amortization Payment |
|  March 31, 2025 | $4375000 |
|  June 30, 2025 | $4375000 |
|  September 30, 2025 | $4375000 |
|  December 31, 2025 | $4375000 |
|  March 31, 2026 | $4375000 |
|  June 30, 2026 | $4375000 |
|  September 30, 2026 | $4375000 |
|  December 31, 2026 | $4375000 |
|  March 31, 2027 | $6562500 |
|  June 30, 2027 | $6562500 |
|  September 30, 2027 | $6562500 |
|  December 31, 2027 | $6562500 |
|  March 31, 2028 | $6562500 |
|  June 30, 2028 | $6562500 |
|  September 30, 2028 | $6562500 |

---

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---

| | |
|:---|:---|
|  December 31, 2028 | $6562500 |
|  March 31, 2029 | $6562500 |
|  June 30, 2029 | $6562500 |
|  September 30, 2029 | $6562500 |
|  December 31, 2029 | $6562500 |
|  March 31, 2030 | $6562500 |
|  June 30, 2030 | $6562500 |
|  September 30, 2030 | $6562500 |
|  On the Maturity Date | Remaining principal amount of all Notes |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Issuer hereby unconditionally promise to pay to the Administrative Agent for the account of each Variable Note Holder the then unpaid principal amount of each Variable Note on the Variable Note Maturity Date. In addition, on the Variable Note Maturity Date, the Issuer shall make payment in full in Cash of all accrued and unpaid fees and all reimbursable expenses and other Obligations with respect to the Variable Note then due, together with accrued and unpaid interest (if any) thereon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Holder shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of each Issuer to such Holder resulting from each Note purchased by such Holder, including the amounts of principal and interest payable and paid to such Holder from time to time hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Note made (or otherwise created) hereunder, the Class, currency and Type thereof and the Interest Period (if any) applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from each Issuer to each Holder hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Holders and each Holder's share thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The entries made in the accounts maintained pursuant to <u>paragraph</u> <u>(c)</u> or <u>(d)</u> of this <u>Section</u> <u>2.10</u> shall be prima facie evidence of the existence and amounts of the obligations recorded therein (absent manifest error); <u>provided</u> that the failure of any Holder or the Administrative Agent to maintain such accounts or any manifest error therein shall not in any manner affect the obligations of the Issuer to repay the Notes in accordance with the terms of this Agreement; <u>provided</u>, <u>further</u>, that in the event of any inconsistency between the accounts maintained by the Administrative Agent pursuant to <u>paragraph (d)</u> of this <u>Section</u> <u>2.10</u> and any Holder's records, the accounts of the Administrative Agent shall govern.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Any Holder may request that Notes made (or otherwise held) by it be evidenced by a Promissory Note. In such event, each applicable Issuer shall prepare, execute and deliver to such Holder a Promissory Note payable to such Holder and its registered assigns; it being understood and agreed that such Holder (and/or its applicable assign) shall be required to return such Promissory Note to the applicable Issuer(s) in accordance with <u>Section</u> <u>9.05(b)(iii)</u> and upon the occurrence of the Termination Date (or as promptly thereafter as practicable).

Section 2.11 <u>Prepayment of Notes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Optional Prepayments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Upon prior notice in accordance with <u>paragraph (a)(iii)</u> of this <u>Section</u> <u>2.11</u>, the Issuer shall have the right at any time and from time to time to prepay any Borrowing of Term Notes in whole or in part without premium or penalty (but subject to <u>Sections</u> <u>2.12(f)</u> and <u>2.16</u>). Each such prepayment shall be paid to the Term Holders under the applicable Class(es) in accordance with their respective Applicable Percentages.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Upon prior notice in accordance with <u>paragraph (a)(iii)</u> of this <u>Section</u> <u>2.11</u>, the Issuer shall have the right at any time and from time to time to prepay any Borrowing of Variable Notes, including any Additional Variable Notes, in whole or in part without premium or penalty (but subject to <u>Section</u> <u>2.16</u>). Prepayments made pursuant to this <u>Section</u> <u>2.11(a)(ii)</u> shall be applied ratably to the outstanding Variable Notes, including any Additional Variable Notes. Each such prepayment shall be paid to the Variable Note Holders under the applicable Class(es) in accordance with their respective Applicable Percentages.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Issuer shall notify the Administrative in writing of any prepayment under this <u>Section</u> <u>2.11(a)</u> (A) in the case of a prepayment of a SOFR Borrowing denominated in Dollars, not later than 1:00 p.m., Local Time, three Business Days before the date of prepayment, (B) in the case of a prepayment of an ABR Borrowing, not later than 1:00 p.m. one Business Day before the date of prepayment or (C) in the case a Borrowing denominated in an Alternative Currency, four Business Days, before the date of prepayment (or, in the case of <u>clauses (A)</u>, <u>(B)</u> and <u>(C)</u>, such later time as shall be acceptable to the Administrative Agent). Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that a notice of prepayment delivered by the applicable Issuer may state that such notice is conditioned upon the effectiveness of other transactions, in which case such notice may be revoked by the Issuer (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Promptly following receipt of any such notice relating to any Borrowing, the Administrative Agent shall advise the relevant Holders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount at least equal to the amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in <u>Section</u> <u>2.02(c)</u>. Each prepayment of Term Notes made pursuant to this <u>Section</u> <u>2.11(a)</u> shall be applied against the remaining scheduled installments of principal due in respect of the Term Notes of such Class in the manner specified by the Issuer or, if not so specified on or prior to the date of such optional prepayment, in direct order of maturity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Mandatory Prepayments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) No later than the fifth Business Day after the date on which the financial statements with respect to each Fiscal Year of the Applicable Reporting Company are required to be delivered pursuant to <u>Section</u> <u>5.01(b)</u>, commencing with the Fiscal Year ending December 31, 2025, the Issuer shall, jointly and severally, prepay the outstanding principal amount of Initial Term Notes and Additional Term Notes (unless specified otherwise in the applicable amendment relating to such Additional Term Notes in accordance with <u>Section</u> <u>2.22(a)(ix)</u>, <u>Section</u> <u>2.23(a)(vi)</u> or <u>Section</u> <u>9.02(c)(i)(F</u>)) in accordance with <u>clause</u> <u>(vi)</u> of this <u>Section</u> <u>2.11(b)</u> below in an aggregate principal amount equal to (A) 50% of Excess Cash Flow of Holdings and the Restricted Subsidiaries for the Fiscal Year then ended, *minus* (B) at the option of the Issuer, (x) the aggregate principal amount of any Initial Term Notes, Additional Term Notes, Variable Notes or Additional Variable Notes (in each case, to the extent ranking *pari passu* in right of payment and with respect to security with the Initial Term Notes) prepaid pursuant to <u>Section</u> <u>2.11(a)</u> prior to such date (calculated by reference to the Dollar Equivalent thereof, in the case of any such prepayments made in a currency other than Dollars) and (y) the amount of any reduction in the outstanding amount of any Initial Term Notes or Additional Term Notes retired and cancelled as a result of any assignment made in accordance with <u>Section</u> <u>9.05(g)</u> of this Agreement (including in connection with any Dutch Auction), in the case of this clause (y) prior to such date and in an amount equal to the actual amount of cash paid in connection with the relevant assignment (calculated by reference to the Dollar Equivalent thereof, in the case of any such payments made in a currency other than Dollars), excluding any such optional prepayments made during such Fiscal Year that reduced the amount required to be prepaid pursuant to this <u>Section</u> <u>2.11(b)(i)</u> in the prior Fiscal Year (provided, in the case of any prepayment of Variable Notes and/or

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Additional Variable Notes, to the extent accompanied by a permanent reduction in the relevant commitment, and in the case of all such prepayments, to the extent that such prepayments were not financed with the proceeds of other Indebtedness (other than revolving Indebtedness) of the Issuer or their Restricted Subsidiaries); <u>provided</u> that (I) such percentage of Excess Cash Flow shall be reduced to 25% of Excess Cash Flow if the Total Leverage Ratio calculated on a Pro Forma Basis as of the last day of the relevant Fiscal Year (but without giving effect to the payment required hereby) is less than or equal to 0.75 to 1.00, but greater than 0.25 to 1.00, (II) such prepayment shall not be required if the Total Leverage Ratio calculated on a Pro Forma Basis as of the last day of the relevant Fiscal Year (but without giving effect to the payment required hereby) is less than or equal to 0.25 to 1.00 and (III) no such prepayment shall be required if the amount that would be required to be prepaid is less than or equal to $15,000,000 and then, only to the extent of any amount in excess of $15,000,000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) No later than the fifth Business Day following the receipt of Net Proceeds in respect of any Prepayment Asset Sale or Net Insurance/Condemnation Proceeds, in each case, in excess of $5,000,000 in any Fiscal Year, the Issuer shall, jointly and severally, apply an amount equal to 100% of the Net Proceeds or Net Insurance/Condemnation Proceeds received with respect thereto in excess of such thresholds (the "**Subject Proceeds**") to prepay the outstanding principal amount of Initial Term Notes and (unless specified otherwise in the applicable amendment relating to such Additional Term Notes in accordance with <u>Section</u> <u>2.22(a)(ix)</u>, <u>Section</u> <u>2.23(a)(vi)</u> or <u>Section</u> <u>9.02(c)(i)(F</u>)) Additional Term Notes in accordance with <u>clause (vi)</u> below; <u>provided</u> that if, prior to the date any such prepayment is required to be made, the Issuer notifies the Administrative Agent of its intention to reinvest the Subject Proceeds in assets used or useful in the business (other than Cash or Cash Equivalents) of the Issuer or any of its Restricted Subsidiaries, then so long as no Event of Default then exists, the Issuer shall not be required to make a mandatory prepayment under this <u>clause (ii)</u> in respect of the Subject Proceeds to the extent (A) the Subject Proceeds are so reinvested within 12 months following receipt thereof or (B) the Issuer or any of its Restricted Subsidiaries has committed to so reinvest the Subject Proceeds during such 12-month period and the Subject Proceeds are so reinvested within six months after the expiration of such 12-month period; <u>provided</u>, <u>however</u>, that if the Subject Proceeds have not been so reinvested prior to the expiration of the applicable period, the Issuer shall, jointly and severally, promptly prepay the outstanding principal amount of Initial Term Notes and Additional Term Notes with the Subject Proceeds not so reinvested as set forth above (without regard to the immediately preceding proviso); <u>provided</u> <u>further</u> that if, at the time that any such prepayment would be required hereunder, the Issuer or any of its Restricted Subsidiaries is required to offer to repay or repurchase any other Indebtedness permitted hereunder to be secured on a *pari passu* basis with the Secured Obligations pursuant to the terms of the documentation governing such Indebtedness with the Subject Proceeds (such Indebtedness required to be offered to be so repaid or repurchased, the "**Other Applicable Indebtedness**"), then the relevant Person may apply the Subject Proceeds on a *pro rata* basis to the prepayment of the Initial Term Notes and (to the extent required) Additional Term Notes and to the repurchase or repayment of the Other Applicable Indebtedness (determined on the basis of the aggregate outstanding principal amount of the applicable Initial Term Notes, Additional Term Notes and Other Applicable Indebtedness (or accreted amount if such Other Applicable Indebtedness is issued with original issue discount) at such time (using the Dollar Equivalent thereof as of the date of determination, in the case of any such Term Notes or Other Applicable Indebtedness denominated in a currency other than Dollars); <u>provided</u> that the portion of the Subject Proceeds allocated to the Other Applicable Indebtedness shall not exceed the amount of the Subject Proceeds required to be allocated to the Other Applicable Indebtedness pursuant to the terms thereof, and the remaining amount, if any, of the Subject Proceeds shall be allocated to the Initial Term Notes and Additional Term Notes in accordance with the terms hereof), and the amount of the prepayment of the Initial Term Notes and Additional Term Notes that would have otherwise been required pursuant to this <u>Section</u> <u>2.11(b)(ii)</u> shall be reduced accordingly; <u>provided</u> <u>further</u> that to the extent the holders of the Other Applicable Indebtedness decline to have such Indebtedness prepaid or repurchased, the declined amount shall promptly (and in any event within ten Business Days after the date of such declination) be applied to prepay the Initial Term Notes and Additional Term Notes 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;(iii) In the event that the Issuer or any of its Restricted Subsidiaries receives Net Proceeds from the issuance or incurrence of Indebtedness by the Issuer or any of its Restricted Subsidiaries (other than with respect to Indebtedness permitted under <u>Section</u> <u>6.01</u>, except to the extent the relevant Indebtedness constitutes Refinancing Indebtedness incurred to refinance all or a portion of the Initial Term Notes or Additional Term Notes pursuant to <u>Section</u> <u>6.01(p)</u> or Replacement Term Notes incurred to refinance all or a portion of the Initial Term Notes or Additional Term Notes in accordance with the requirements of <u>Section</u> <u>9.02(c)</u>), the Issuer shall, jointly and severally, substantially simultaneously with (and in any event not later than the next succeeding Business Day) the receipt of such Net Proceeds by such Issuer or its applicable Restricted Subsidiary, apply an amount equal to 100% of such Net Proceeds to prepay the outstanding principal amount of Initial Term Notes and Additional Term Notes in accordance with <u>clause</u> <u>(vi)</u> below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) In the event that the Issuer or any of its Restricted Subsidiaries receives proceeds from the issuance or incurrence of Curative Equity, the Issuer shall, jointly and severally, substantially simultaneously with (and in any event not later than the next succeeding Business Day) the receipt of such proceeds by such Issuer or its applicable Restricted Subsidiary, apply an amount equal to 100% of such proceeds to prepay the outstanding principal amount of Initial Term Notes and Additional Term Notes in accordance with <u>clause</u> <u>(vi)</u> below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Each Holder may elect, by written notice to the Administrative Agent in the manner specified by the Administrative Agent, before 11:00 a.m. one Business Day prior to any prepayment of Initial Term Notes and Additional Term Notes required to be made by the Issuer pursuant to this <u>Section</u> <u>2.11(b)</u>, to decline all (but not a portion) of its Applicable Percentage of such prepayment (such declined amounts, solely to the extent not applied to any other Indebtedness of the Issuer or their subsidiaries as a mandatory prepayment of such Indebtedness, the "**Declined Proceeds**"); <u>provided</u> that, for the avoidance of doubt, no Holder may reject any prepayment made under <u>Section</u> <u>2.11(b)(iii)</u> above to the extent that such prepayment is made with the Net Proceeds of Refinancing Indebtedness incurred to refinance all or a portion of the Initial Term Notes or Additional Term Notes pursuant to <u>Section</u> <u>6.01(p)</u> or Replacement Term Notes incurred to refinance all or a portion of the Initial Term Notes or Additional Term Notes in accordance with the requirements of <u>Section</u> <u>9.02(c)</u>. If any Holder fails to deliver a notice to the Administrative Agent of its election to decline receipt of its Applicable Percentage of any mandatory prepayment within the time frame specified by the Administrative Agent, such failure will be deemed to constitute an acceptance of such Holder's Applicable Percentage of the total amount of such mandatory prepayment of Initial Term Notes and Additional Term Notes. Any Declined Proceeds shall be retained by the Issuer for application for any purpose not prohibited by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Except as may otherwise be set forth in any amendment to this Agreement in connection with any Additional Term Note in accordance with <u>Section</u> <u>2.22(a)(ix)</u>, <u>Section</u> <u>2.23(a)(vi)</u> or <u>Section</u> <u>9.02(c)(i)(F)</u>, (A) each prepayment of Initial Term Notes and Additional Term Notes pursuant to this <u>Section</u> <u>2.11(b)</u> shall be applied ratably to each Class of Term Notes (based upon the then outstanding principal amounts of the respective Classes of Term Notes (using the Dollar Equivalent thereof as of the date of determination, in the case of any such Term Notes not denominated in Dollars)) (<u>provided</u> that any prepayment of Initial Term Notes or Additional Term Notes constituting Refinancing Indebtedness incurred to refinance all or a portion of the Initial Term Notes or Additional Term Notes pursuant to <u>Section</u> <u>6.01(p)</u> or Replacement Term Notes incurred to refinance all or a portion of the Initial Term Notes or Additional Term Notes in accordance with the requirements of <u>Section</u> <u>9.02(c)</u> shall be applied solely to each applicable Class of refinanced or replaced Term Notes), (B) with respect to each Class of Initial Term Notes and Additional Term Notes, all accepted prepayments under <u>Section</u> <u>2.11(b)(i)</u>, <u>(ii)</u> or <u>(iii)</u> shall be applied

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against the remaining scheduled installments of principal due in respect of the Initial Term Notes and Additional Term Notes of such Class as directed by the Issuer (or, in the absence of direction from the Issuer, to the remaining scheduled amortization payments in respect of the Initial Term Notes and Additional Term Notes of such Class in inverse order of maturity), and (C) each such prepayment shall be paid to the Term Holders of each applicable Class in accordance with their respective Applicable Percentages. The amount of such mandatory prepayments shall be applied on a *pro rata* basis to the then outstanding Initial Term Notes and Additional Term Notes being prepaid irrespective of whether such outstanding Notes are ABR Notes or SOFR Notes; <u>provided</u> that, within each Class of Term Notes, the amount thereof shall be applied first to ABR Notes to the full extent thereof before application to the SOFR Notes in a manner that minimizes the amount of any payments required to be made by the applicable Issuer(s) pursuant to <u>Section</u> <u>2.16</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) In the event that the Aggregate Variable Note Exposure exceeds the Total Variable Note Commitment then in effect (other than solely as a result of changes in currency exchange rates), the Issuer shall, within five Business Days of receipt of notice from the Administrative Agent, prepay the Variable Notes in an aggregate amount sufficient to reduce such Aggregate Variable Note Exposure as of the date of such payment to an amount not to exceed the Total Variable Note Commitment then in effect by taking any of the following actions as it shall determine at its sole discretion prepayment of Variable Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) At the time of each prepayment required under <u>Section</u> <u>2.11(b)(i)</u>, <u>(ii)</u> or <u>(iii)</u>, the Issuer shall deliver to the Administrative Agent a certificate signed by a Responsible Officer of the Issuer setting forth in reasonable detail the calculation of the amount of such prepayment. Each such certificate shall specify the Borrowings being prepaid and the principal amount of each Borrowing (or portion thereof) to be prepaid. Prepayments shall be accompanied by accrued interest as required by <u>Section</u> <u>2.13</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) If solely as a result of changes in currency exchange rates, on any Revaluation Date, the Dollar Equivalent of the total Variable Note Exposure of all Variable Note Holders of any Class exceeds the total Variable Note Commitments of such Class, the Issuer shall, at the request of the Administrative Agent (<u>provided</u>, that such a request shall be deemed to have been made if the Dollar Equivalent of the total Variable Note Exposure of all Variable Note Holders under the respective Class is more than 105% of the total Variable Note Commitments of such Class (on any Revaluation Date), within 5 days of such Revaluation Date prepay Variable Notes, in an aggregate amount such that the applicable exposure does not exceed the applicable commitment set forth above).

Section 2.12 <u>Fees</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Issuer agree to pay to the Administrative Agent for the account of each Variable Note Holder (other than any Defaulting Holder) a commitment fee, which shall accrue at a rate equal to one half of one percent (0.50%) per annum on the average daily amount of the Unused Variable Note Commitment of such Variable Note Holder during the period from and including the Closing Date to the date on which such Holder's Variable Note Commitments terminate. Accrued commitment fees shall be payable in arrears on the last Business Day of each March, June, September and December for the quarterly period then ended (commencing on December 31, 2024) and on the date on which the Variable Note Commitments terminate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) [Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) [Reserved].

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Issuer jointly and severally agree to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Issuer and the Administrative Agent in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent for distribution, in the case of commitment fees and participation fees, to the Variable Note Holders. Fees paid shall not be refundable under any circumstances. Fees payable hereunder shall accrue to but excluding the last day of the month immediately preceding the applicable fee payment date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) If all or any portion of the Initial Term Notes is (i) voluntarily prepaid in whole or in part, (ii) refinanced in whole or in part or (iii) voluntarily repriced or refinanced, or (iv) mandatorily prepaid pursuant to <u>Sections 2.11(b)(ii)</u> (solely with respect to Prepayment Asset Sales) or <u>(b)(iii)</u>, then the aggregate principal amount so refinanced, voluntarily prepaid, or repriced will be subject to a fee (the "**Prepayment Premium**") payable by Issuer equal to (x) prior to the first anniversary of the Closing Date, 2.0% of the principal amount so refinanced, prepaid or repriced, (y) on or after the first anniversary of the Closing Date and prior to the second anniversary of the Closing Date, 1.0% of the principal amount so refinanced, prepaid or repriced, and (z) thereafter no prepayment premium shall apply. Without limiting the generality of the foregoing, it is understood and agreed that if the Obligations are accelerated prior to the twenty-four (24) month anniversary of the Closing Date for any reason, including because of any Event of Default, the Prepayment Premium, determined as of the date of acceleration, will also be due and payable as though the Obligations were voluntarily prepaid as of such date and shall constitute part of the Obligations, in view of the impracticability and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of each Holder's lost profits as a result thereof. The Prepayment Premium payable in accordance with this Section 2.12(f) shall be presumed to be the liquidated damages sustained by each Holder as the result of the early termination, and the Issuer agree that it is reasonable under the circumstances. The Prepayment Premium shall also be payable in the event the Obligations (and/or this Agreement as evidencing the Obligations) are satisfied or released by foreclosure (whether by power of judicial proceeding), deed in lieu of foreclosure, or by any other means. THE ISSUER EXPRESSLY WAIVES THE PROVISIONS OF ANY PRESENT OR FUTURE STATUTE OR LAW THAT PROHIBITS OR MAY PROHIBIT THE COLLECTION OF THE FOREGOING PREPAYMENT PREMIUM IN CONNECTION WITH ANY SUCH ACCELERATION. The Issuer expressly agree that: (A) the Prepayment Premium is reasonable and is the product of an arm's length transaction between sophisticated business people, ably represented by counsel, (B) the Prepayment Premium shall be payable notwithstanding the then prevailing market rates at the time payment is made, (C) there has been a course of conduct between the Holders and the Issuer giving specific consideration in this transaction for such agreement to pay the Prepayment Premium, and (D) the Issuer shall be estopped hereafter from claiming differently than as agreed to in this Section 2.12(f). Notwithstanding anything to the contrary set forth herein, no Prepayment Premium shall be required in connection with any voluntary prepayment of Initial Term Notes in an amount of up to $100,000,000 in the aggregate during the term of this Agreement if such prepayment is applied from cash generated from operations of Holdings and its Restricted Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of a fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

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Section 2.13 <u>Interest</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Term Notes and Variable Notes comprising each ABR Borrowing shall bear interest at the Alternate Base Rate *plus* the Applicable Rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Term Notes and Variable Notes comprising each SOFR Borrowing shall bear interest at Adjusted Term SOFR for the Interest Period in effect for such Borrowing *plus* the Applicable Rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) [*Reserved*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *Default 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;(i) Notwithstanding the foregoing and subject to <u>Section</u> <u>2.21</u>, if any principal of or interest on any Initial Term Note, Variable Note or Additional Note or any fee payable by the Issuer hereunder is not, in each case, paid or reimbursed when due, whether at stated maturity, upon acceleration or otherwise, the relevant overdue amount shall bear interest, to the fullest extent permitted by law, after as well as before judgment, at a rate per annum equal to (A) in the case of overdue principal or interest of any Initial Term Note, Variable Note or Additional Note, 2.00% *plus* the rate otherwise applicable to such Initial Term Note, Variable Note or Additional Note as provided in the preceding paragraphs of this <u>Section</u> <u>2.13</u> or in the amendment to this Agreement relating thereto or (B) in the case of any other amount, 2.00% *plus* the rate applicable to Initial Term Notes denominated in Dollars that are ABR Notes as provided in <u>paragraph (a)</u> of this <u>Section</u> <u>2.13</u>; <u>provided</u> that no amount shall accrue pursuant to this <u>Section</u> <u>2.13(d)</u> on any overdue amount, reimbursement obligation in respect of any other amount payable to a Defaulting Holder so long as such Holder is a Defaulting 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;(ii) Notwithstanding the foregoing and subject to <u>Section</u> <u>2.21</u>, if any Material Event of Default has occurred and is continuing, the Obligations shall bear interest, to the fullest extent permitted by law, after as well as before judgment, at a rate per annum equal to (A) in the case of overdue principal or interest of any Initial Term Note, Variable Note or Additional Note, 2.00% *plus* the rate otherwise applicable to such Initial Term Note, Variable Note or Additional Note as provided in the preceding paragraphs of this <u>Section</u> <u>2.13</u> or in the amendment to this Agreement relating thereto or (B) in the case of any other amount, 2.00% *plus* the rate applicable to Initial Term Notes denominated in Dollars that are ABR Notes as provided in <u>paragraph (a)</u> of this <u>Section</u> <u>2.13</u>; <u>provided</u> that no amount shall accrue pursuant to this <u>Section</u> <u>2.13(d)</u> on any Obligations payable to a Defaulting Holder so long as such Holder is a Defaulting Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Accrued interest on each Initial Term Note, Variable Note or Additional Note shall be payable in arrears on each Interest Payment Date for such Initial Term Note, Variable Note or Additional Note and on the Maturity Date or upon the termination of the Variable Note Commitments or any Additional Note Commitments, as applicable; <u>provided</u> that (i) interest accrued pursuant to <u>paragraph (d)</u> of this <u>Section</u> <u>2.13</u> shall be payable on demand, (ii) in the event of any repayment or prepayment of any Initial Term Note, Variable Note or Additional Note (other than a prepayment of an ABR Variable Note prior to the termination of the relevant Variable Note Commitments), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any SOFR Note prior to the end of the current Interest Period therefor, accrued interest on such Initial Term Note, Variable Note or Additional Note shall be payable on the effective date of such conversion.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) All interest hereunder shall be computed on the basis of a year of 360 days, except that (i) interest computed for ABR Notes based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year) and (ii) Borrowings denominated in Sterling, interest shall be computed on the basis of a year of 365 days, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate or Adjusted Term SOFR shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error. Interest shall accrue on each Note for the day on which the Note is made, and shall not accrue on a Note, or any portion thereof, for the day on which the Note or such portion is paid; <u>provided</u> that any Note that is repaid on the same day on which it is made shall bear interest for one day.

Section 2.14 <u>Alternate Rate of Interest</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If at least two Business Days prior to the commencement of any Interest Period for a SOFR 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;(ii) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining Adjusted Term SOFR for such Interest 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;(iii) the Administrative Agent is advised by the Required Holders that the Adjusted Term SOFR for such Interest Period will not adequately and fairly reflect the cost to such Holders of making or maintaining their Notes included in such Borrowing for such Interest Period;

then the Administrative Agent shall promptly give notice thereof to the Issuer and the Holders by telephone or facsimile or other electronic transmission as promptly as practicable thereafter and, until the Administrative Agent notifies the Issuer and the Holders that the circumstances giving rise to such notice no longer exist, which the Administrative Agent agrees promptly to do, (i) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a SOFR Borrowing shall be ineffective and such Borrowing shall be converted to an ABR Borrowing on the last day of the Interest Period applicable thereto, (ii) any Interest Election Request that requests the continuation of any Borrowing in any affected Alternative Currency shall be ineffective and such Borrowing denominated in an Alternative Currency shall be prepaid on the last day of the Interest Period applicable thereto, and (iii) if any Borrowing Request requests a SOFR Borrowing, such Borrowing shall be made as an ABR Borrowing (and if any Borrowing Request requests a Borrowing of Variable Notes denominated in an Alternative Currency, such Borrowing Request shall be ineffective).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding anything to the contrary herein or in any other Notes 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;(i) Upon the occurrence of a Benchmark Transition Event, the Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder and under any Notes Document in respect of any Benchmark setting at or after 5:00 p.m. on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Holders without requiring any amendment to, or requiring any further action by or consent of any other party to, this Agreement or any other Notes Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Holders comprising the Required Holders. At any time that the administrator of the then-current Benchmark has permanently or indefinitely ceased to provide such Benchmark or such Benchmark has been announced by the regulatory supervisor for the administrator of such Benchmark pursuant to public statement or publication of information to be no longer representative of the underlying market and economic reality that such Benchmark is intended to measure and that representativeness will not be restored, the Issuer may revoke any request for a borrowing of, conversion to or continuation of

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Notes to be made, converted or continued that would bear interest by reference to such Benchmark until the Issuer's receipt of notice from the Administrative Agent that a Benchmark Replacement has replaced such Benchmark, and, failing that, the Issuer will be deemed to have converted any such request into a request for a borrowing of or conversion to ABR Notes. During the period referenced in the foregoing sentence, the component of Alternate Base Rate based upon the Benchmark will not be used in any determination of the Alternate 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;(ii) In connection with the implementation and administration of a Benchmark Replacement, the Administrative Agent will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Notes 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.

&nbsp;&nbsp;&nbsp;&nbsp;&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) The Administrative Agent will promptly notify the Issuer and the Holders of (i) the implementation of any Benchmark Replacement and (ii) the effectiveness of any Benchmark Replacement Conforming Changes. Any determination, decision or election that may be made by the Administrative Agent or, if applicable, any Holder (or group of Holders) pursuant to this <u>Section</u> <u>2.14(b)</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, 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 hereto, except, in each case, as expressly required pursuant to this <u>Section</u> <u>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;(iv) At any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including Term SOFR), then the Administrative Agent may remove any tenor of such Benchmark that is unavailable or non-representative for Benchmark (including Benchmark Replacement) settings and (ii) the Administrative Agent may reinstate any such previously removed tenor for Benchmark (including Benchmark Replacement) settings.

&nbsp;&nbsp;&nbsp;&nbsp;&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) As used in this <u>Section</u> <u>2.14(b)</u>:

"**Available Tenor**" means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (x) if the then-current Benchmark is a term rate, any tenor for such Benchmark that is or may be used for determining the length of an Interest Period or (y) otherwise, any payment period for interest calculated with reference to such Benchmark, as applicable, pursuant to this Agreement as of such date.

"**Benchmark**" means, initially as of the Closing Date, Term SOFR; <u>provided</u> that if a replacement of the Benchmark has occurred after the Closing Date pursuant to this <u>Section</u> <u>2.14(b)</u>, then "Benchmark" means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate. Any reference to "Benchmark" shall include, as applicable, the published component used in the calculation thereof.

"**Benchmark Replacement**" means, for any Available Tenor, the sum of (x) the alternate benchmark rate and (y) an adjustment (which may be a positive or negative value or zero), in each case, that has been selected by the Administrative Agent and the Issuer as the replacement for such Available Tenor of such Benchmark giving due consideration to any evolving or then-prevailing market convention, including any applicable recommendations made by the Relevant Governmental Body, for U.S. dollar-denominated syndicated credit facilities at such time; <u>provided</u> that, if the Benchmark Replacement 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 Notes Documents.

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"**Benchmark Replacement Conforming Changes**" means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of "Alternate Base Rate," the definition of "Business Day," the definition 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 other technical, administrative or operational matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the 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 such Benchmark Replacement 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 Notes Documents).

"**Benchmark Transition Event**" means, with respect to any then-current Benchmark, the occurrence of a public statement or publication of information by or on behalf of the administrator of the then-current Benchmark, the regulatory supervisor for the administrator of such Benchmark, the Board, the Federal Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for such Benchmark, a resolution authority with jurisdiction over the administrator for such Benchmark or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark, announcing or stating that (a) such administrator has ceased or will cease on a specified date to provide all Available Tenors of such Benchmark, 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 (b) all Available Tenors of such Benchmark are or will no longer be representative of the underlying market and economic reality that such Benchmark is intended to measure and that representativeness will not be restored.

"**Relevant Governmental Body**" means the Board or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Board or the Federal Reserve Bank of New York, or any successor thereto.

Section 2.15 <u>Increased Costs</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If any Change in 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;(i) imposes, modifies or deems applicable any reserve, special deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by, any 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;(ii) subjects any Holder to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (e) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its notes, note principal, 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;(iii) imposes on any Holder any other condition (other than Taxes) affecting this Agreement or SOFR Notes purchased by any Holder or participation therein,

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and the result of any of the foregoing is to increase the cost to the relevant Holder of making or maintaining any SOFR Note or of maintaining its obligation to make any such Note (including, without limitation, pursuant to any conversion of any Borrowing denominated in Dollars or any Alternative Currency into a Borrowing denominated in Dollars or any other Alternative Currency) or to increase the cost to such Holder or to reduce the amount of any sum received or receivable by such Holder hereunder, whether of principal, interest or otherwise (including, without limitation, pursuant to any conversion of any Borrowing denominated in Dollars or any Alternative Currency into a Borrowing denominated in Dollars or any other Alternative Currency) in respect of any SOFR Note in an amount deemed by such Holder to be material (such amount being an "**Increased Cost**"), then, within 30 days after the Issuer's receipt of the certificate contemplated by <u>paragraph (c)</u> of this <u>Section</u> <u>2.15</u>, the applicable Issuer(s) will, subject to <u>Section</u> <u>2.15(e)</u>, pay to such Holder such additional amount or amounts as will compensate such Holder for such additional costs incurred or reduction suffered; <u>provided</u> that such Issuer(s) shall not be liable for such compensation if (x) the relevant Change in Law occurs on a date prior to the date such Holder becomes a party hereto, (y) such Holder invokes <u>Section</u> <u>2.20</u> or (z) in the case of requests for reimbursement under <u>clause (ii)</u> above resulting from a market disruption, the relevant circumstances are not generally affecting the banking market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If any Holder determines that any Change in Law regarding liquidity or capital requirements has or would have the effect of reducing the rate of return on such Holder's capital or on the capital of such Holder's holding company, if any, as a consequence of this Agreement or the Notes purchased by such Holder to a level below that which such Holder or such Holder's holding company could have achieved but for such Change in Law other than due to Taxes, which shall be dealt with exclusively pursuant to <u>Section</u> <u>2.17</u> (taking into consideration such Holder's policies and the policies of such Holder's holding company with respect to liquidity and capital adequacy), then within 30 days of receipt by the Issuer of the certificate contemplated by <u>paragraph (c)</u> of this <u>Section</u> <u>2.15</u> the applicable Issuer(s) will pay to such Holder such additional amount or amounts as will compensate such Holder or such Holder'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;(c) A certificate of a Holder setting forth the amount or amounts necessary to compensate such Holder or its holding company, as applicable, as specified in <u>paragraph (a)</u> or <u>(b)</u> of this <u>Section</u> <u>2.15</u> and setting forth in reasonable detail the manner in which such amount or amounts were determined and certifying that such Holder is generally charging such amounts to similarly situated issuer shall be delivered to the Issuer and 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;(d) Failure or delay on the part of any Holder to demand compensation pursuant to this <u>Section</u> <u>2.15</u> shall not constitute a waiver of such Holder's right to demand such compensation; <u>provided</u> that the applicable Issuer(s) shall not be required to compensate a Holder pursuant to this <u>Section</u> <u>2.15</u> for any increased costs or reductions incurred more than 180 days prior to the date that such Holder notifies the Issuer of the Change in Law giving rise to such increased costs or reductions and of such Holder's intention to claim compensation therefor; <u>provided</u> <u>further</u> 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;(e) <u>Section 2.15(a)</u> does not apply to the extent that any Increased Cost is (a) attributable to a U.K. Tax Deduction required by law to be made by a U.K. Issuer; or (b) solely in the case of any Note made to a U.K. Issuer, compensated for by <u>Section</u> <u>2.17(c)</u> (or would have been compensated for under <u>Section</u> <u>2.17(c)</u> but was not so compensated solely because any of the exclusions in <u>Section</u> <u>2.17(c)</u> applied).

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Section 2.16 <u>Break Funding Payments</u>. In the event of (a) the conversion or prepayment of any principal of any SOFR Note other than on the last day of an Interest Period applicable thereto (whether voluntary, mandatory, automatic, by reason of acceleration or otherwise), (b) the failure to borrow, convert, continue or prepay any SOFR Note on the date or in the amount specified in any notice delivered pursuant hereto or (c) the assignment of any SOFR Note of any Holder other than on the last day of the Interest Period applicable thereto as a result of a request by the Issuer pursuant to <u>Section</u> <u>2.19</u>, then, in any such event, the applicable Issuer(s) shall compensate each Holder for the loss, cost and expense incurred by such Holder that is attributable to such event (other than loss of profit. In the case of a SOFR Note, the loss, cost or expense of any Holder shall be the amount reasonably determined by such Holder to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Note had such event not occurred, at the SOFR that would have been applicable to such Note, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Note), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Holder would bid were it to bid, at the commencement of such period, for deposits in the applicable currency of a comparable amount and period from other banks; it being understood that such loss, cost or expense shall in any case exclude any interest rate floor and all administrative, processing or similar fees. A certificate of any Holder setting forth any amount or amounts that such Holder is entitled to receive pursuant to this <u>Section</u> <u>2.16</u>, the basis therefor and, in reasonable detail, the manner in which such amount or amounts were determined shall be delivered to the Issuer and shall be conclusive absent manifest error. The applicable Issuer(s) shall pay such Holder the amount shown as due on any such certificate within 30 days after receipt thereof.

Section 2.17 <u>Taxes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Any and all payments by or on account of any obligation of any Note Party under any Notes Document shall be made free and clear of and without deduction for any Taxes, except as required by applicable Requirements of Law. If any applicable Requirement of Law (as determined in the good faith discretion of the applicable withholding agent) requires the deduction or withholding of any Tax from any such payment, then (X) in the case of any deduction or withholding on account of Tax (i) if the Tax is an Indemnified Tax the amount payable by the applicable Note Party shall be increased as necessary so that after all required deductions and withholdings have been made (including deductions and withholdings applicable to additional sums payable under this <u>Section</u> <u>2.17</u>), each Holder, or, in the case of any payment made to the Administrative Agent for its own account, the Administrative Agent, receives an amount equal to the sum it would have received had no such deductions or withholdings been made, (ii) the applicable withholding agent shall be entitled to make such deduction or withholding and (iii) the applicable withholding agent shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with applicable Requirements of Law and (Y) in the case of any deduction or withholding on account of U.K. Tax, the amount of the payment due from the relevant Note Party shall be increased to an amount which (after making any U.K. Tax Deduction) leaves an amount equal to the payment which would have been due if no U.K. Tax Deduction had been required. If at any time any applicable withholding agent is required by applicable Requirements of Law to make any deduction or withholding from any amount payable under any Notes Document, the Issuer shall promptly notify the relevant Holder and the Administrative Agent upon any Responsible Officer becoming aware of the same.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In addition, the Note Parties shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable Requirements of 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;(c) Each Note Party shall jointly and severally indemnify the Administrative Agent, and each Holder within 10 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 <u>Section</u> <u>2.17</u>) payable or paid by the Administrative Agent or such Holder, as applicable, or required to be withheld

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or deducted from any payment by or any payment on account of any obligation of any Note Party hereunder to such recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified 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 the Issuer by a Holder (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Holder, 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;(d) Each Holder shall severally indemnify the Administrative Agent, within 10 days after demand therefor, for (i) any Indemnified Taxes or Other Taxes imposed on or with respect to any payment under any Notes Document that is attributable to such Holder (but only to the extent that no Note Party has already indemnified the Administrative Agent for such Indemnified Taxes or Other Taxes and without limiting the obligation of the Note Parties to do so), (ii) any Taxes attributable to such Holder's failure to comply with the provisions of <u>Section</u> <u>9.05(c)(ii)</u> relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Holder, in each case, that are payable or paid by the Administrative Agent in connection with any Notes 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 Holder by the Administrative Agent shall be conclusive absent manifest error. Each Holder hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Holder under any Notes Document or otherwise payable by the Administrative Agent to any Holder under any Notes Document or otherwise payable by the Administrative Agent to any Holder from any other source against any amount due to the Administrative Agent under this <u>clause (d)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by any Note Party to a Governmental Authority, such Note Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment that is 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;(f) [*Reserved*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Without prejudice to the obligations of a Note Party to make increased payments pursuant to Section 2.17(a), where a relevant Note Party is required to make a deduction or withholding on account of Tax that is a U.K. Tax Deduction, that relevant Note Party shall make that U.K. Tax Deduction and any payment required in connection with that U.K. Tax Deduction within the time allowed and in the minimum amount required by applicable Requirements of Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Within thirty (30) days of making either a U.K. Tax Deduction or any payment required in connection with that U.K. Tax Deduction, the relevant Note Party making that U.K. Tax Deduction shall deliver to the Administrative Agent for the Holder entitled to the payment a statement under section 975 of the ITA or other evidence reasonably satisfactory to that Holder that the U.K. Tax Deduction has been made or (as applicable) any appropriate payment paid to the relevant Governmental Authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) [*Reserved*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) [*Reserved*]

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Status of Holders</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;(i) Any Holder that is entitled to an exemption from or reduction of any withholding Tax with respect to any payments made under any Notes Document shall deliver to the applicable Issuer and the Administrative Agent, at the time or times reasonably requested by such Issuer or the Administrative Agent, such properly completed and executed documentation as such Issuer or the Administrative Agent may reasonably request to permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Holder, if reasonably requested by any applicable Issuer or the Administrative Agent, shall deliver such other documentation prescribed by applicable Requirements of Law or reasonably requested by such Issuer or the Administrative Agent as will enable such Issuer or the Administrative Agent to determine whether or not such Holder 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 paragraphs (A), (B) and (D) of Section 2.17(k)(ii)) shall not be required if in the Holder's reasonable judgment such completion, execution or submission would subject such Holder to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such 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;(ii) Without limiting the generality of the foregoing, if the applicable Issuer is a "United States person" within the meaning of 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) each Holder that is not a Foreign Holder shall deliver to the applicable Issuer and the Administrative Agent on or prior to the date on which such Holder becomes a Holder under this Agreement (and from time to time thereafter upon the reasonable request of such Issuer or the Administrative Agent), two executed original copies of IRS Form W-9 certifying that such Holder 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;(B) each Foreign Holder shall deliver to the applicable Issuer and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Holder becomes a Holder under this Agreement (and from time to time thereafter upon the reasonable request of such Issuer 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) in the case of any Foreign Holder 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 Notes Document, executed original copies of IRS Form W-8BEN or IRS Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the "interest" article of such tax treaty and (y) with respect to any other applicable payments under any Notes Document, IRS Form W-8BEN or IRS Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the "business profits" or "other income" article of such tax treaty;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) executed original copies of IRS Form W-8ECI;

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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;(3) in the case of any Foreign Holder claiming the benefits of the exemption for portfolio interest under Section 871(h) or 881(c) of the Code, (x) a certificate substantially in the form of <u>Exhibit L-1</u> to the effect that such Foreign Holder is not a "bank" within the meaning of Section 881(c)(3)(A) of the Code, a "10 percent shareholder" of any applicable Issuer within the meaning of Section 871(h)(3)(B) of the Code, or a "controlled foreign corporation" related to any applicable Issuer as described in Section 881(c)(3)(C) of the Code (a "**U.S. Tax Compliance Certificate**") and (y) executed original copies of IRS Form W-8BEN or IRS Form W-8BEN-E; 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;(4) to the extent any Foreign Holder is not the beneficial owner, executed original copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of <u>Exhibit L-2</u> or <u>Exhibit L-3</u>, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; <u>provided</u> that if such Foreign Holder is a partnership and one or more direct or indirect partners of such Foreign Holder are claiming the portfolio interest exemption, such Foreign Holder may provide a U.S. Tax Compliance Certificate substantially in the form of <u>Exhibit L-4</u> on behalf of each such direct or indirect partner;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) each Foreign Holder shall, to the extent it is legally entitled to do so, deliver to the applicable Issuer and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Holder becomes a Holder under this Agreement (and from time to time thereafter upon the reasonable request of such Issuer or the Administrative Agent), executed original copies of any other form prescribed by applicable Requirements of Law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable Requirements of Law to permit such Issuer or the Administrative 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;(D) if a payment made to any Holder under any Notes Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Holder 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 Holder shall deliver to the applicable Issuer and the Administrative Agent at the time or times prescribed by applicable Requirements of Law and at such time or times reasonably requested by such Issuer or the Administrative Agent such documentation as is prescribed by applicable Requirements of Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Issuer or the Administrative Agent as may be necessary for such Issuer and the Administrative Agent to comply with their obligations under FATCA, to determine whether such Holder has complied with such Holder's obligations under FATCA, or to determine the amount, if any, to deduct and withhold from such payment. Solely for purposes of this clause (D), "FATCA" shall include any amendments made to FATCA after the date of this Agreement.

Each Holder 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 applicable Issuer and the Administrative Agent in writing of its legal inability to do so. Notwithstanding anything to the contrary in this <u>Section</u> <u>2.17(k)</u>, no Holder shall be required to provide any documentation that such Holder is not legally eligible to deliver.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) If the Administrative Agent or any Holder determines, in its sole discretion, exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 2.17 (including by the payment of additional amounts pursuant to this Section 2.17), it shall pay over an amount equal to such refund to such Note Party (but only to the extent of indemnity payments made, or additional amounts paid, by such Note Party under this Section 2.17 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent or such Holder (including any Taxes imposed with respect to such refund), and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided that such Note Party, upon the request of such Holder or the Administrative Agent, agrees to repay the amount paid over to such Holder or the Administrative Agent (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event such Holder or the Administrative Agent is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (l), in no event shall the Administrative Agent or any Holder be required to pay any amount to a Note Party pursuant to this paragraph (l) to the extent that the payment thereof would place the Administrative Agent or such Holder in a less favorable net after-Tax position than the position that the Administrative Agent or such Holder would have been in if the Tax subject to indemnification 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 2.17 shall not be construed to require the Administrative Agent or any Holder to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the relevant Note 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;(m) <u>Survival</u>. Each party's obligations under this <u>Section</u> <u>2.17</u> shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, any Holder, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Notes Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) [*Reserved*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <u>Tax Credit</u>. If a Note Party makes an increased payment pursuant to Section 2.17(a) in respect of a U.K. Tax Deduction and the relevant Holder determines 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;(i) a Tax Credit is attributable to that increased payment or to the relevant U.K. Tax Deduction in consequence of which that increased payment was required; 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;(ii) that Holder has obtained and utilized that Tax Credit,

the Holder shall pay an amount to the relevant Note Party which that Holder determines will leave that Holder (after that payment) in the same after-Tax position as it would have been in had the increased payment under Section 2.17(a) not been required to be made by the relevant Note Party, provided that the amount required to be paid by the Holder pursuant hereto shall not exceed the amount of the Tax Credit obtained and utilized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <u>VAT</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;(i) All amounts expressed to be payable under a Notes Document by any party to the Administrative Agent, a Holder which (in whole or in part) constitute the consideration for any supply for VAT purposes are deemed to be exclusive of any VAT which is chargeable on that supply and, accordingly, subject to <u>Section</u> <u>2.17(p)(ii)</u> below, if VAT is or becomes chargeable on any supply made by the Administrative Agent, the relevant a Holder to any party under a Notes Document and the Administrative Agent, the relevant Holder is required to account to the relevant tax authority for the VAT, that party must pay to the Administrative Agent or the relevant Holder (as applicable and in addition to and at the same time as paying any other consideration for such supply) an amount equal to the amount of the VAT (and the Administrative Agent or the relevant Holder must promptly provide an appropriate VAT invoice to that party).

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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;(ii) If VAT is or becomes chargeable on any supply made by the Administrative Agent or a Holder (the **"Supplier"**) to any of the Administrative Agent or a Holder (the **"Recipient"**) under a Notes Document, and any party (the **"Relevant Party"**) is required by the terms of any Notes Document to pay an amount equal to the consideration for that supply to the Supplier (rather than being required to reimburse or indemnify the Recipient in respect of that consideration):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) (where the Supplier is the person required to account to the relevant tax authority for the VAT) the Relevant Party must also pay to the Supplier (at the same time as paying that amount) an additional amount equal to the amount of the VAT. The Recipient must (where this <u>Section</u> <u>2.17(p)(ii)(A)</u> applies) promptly pay to the Relevant Party an amount equal to any credit or repayment the Recipient receives from the relevant tax authority which the Recipient reasonably determines relates to the VAT chargeable on that supply; 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) (where the Recipient is the person required to account to the relevant tax authority for the VAT) the Relevant Party must promptly, following demand from the Recipient, pay to the Recipient an amount equal to the VAT chargeable on that supply but only to the extent that the Recipient reasonably determines that it is not entitled to credit or repayment from the relevant tax authority in respect of that VAT.

&nbsp;&nbsp;&nbsp;&nbsp;&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) Where a Notes Document requires a party to reimburse or indemnify the Administrative Agent or a Holder for any cost or expense, that party shall reimburse or indemnify (as the case may be) the Administrative Agent, the relevant Holder for the full amount of such cost or expense, including such part thereof as represents VAT, save to the extent that the Administrative Agent or the relevant Holder reasonably determines that it is entitled to credit or repayment in respect of such VAT from the relevant tax authority.

&nbsp;&nbsp;&nbsp;&nbsp;&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) Any reference in this <u>Section</u> <u>2.17(p)</u> to any party shall, at any time when such party is treated as a member of a group for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to the person who is treated as making the supply or (as appropriate) receiving the supply under the grouping rules (as provided for in Article 11 of the Council Directive 2006/112/EC (or as implemented by the relevant member state of the European Union or any other similar provision in any jurisdiction which is not a member state of the European Union) so that a reference to a party shall be construed as a reference to that party or the relevant group or unity (or fiscal unity) of which that party is a member for VAT purposes at the relevant time or the relevant representative member (or head) of that group or unity (or fiscal unity) at the relevant time (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;(v) In relation to any supply made by the Administrative Agent or a Holder to any party under a Notes Document, if reasonably requested by the Administrative Agent or the relevant Holder (as applicable), that party must promptly provide the Administrative Agent or the relevant Holder with details of that party's VAT registration and such other information as is reasonably requested in connection with the Administrative Agent's or the relevant Holder's VAT reporting requirements in relation to such supply.

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Section 2.18 <u>Payments Generally; Allocation of Proceeds; Sharing of Payments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Unless otherwise specified, each Issuer shall make each payment required to be made by it hereunder (whether of principal, interest (except for principal of and interest on Variable Notes denominated in an Alternative Currency), fees or reimbursement of amounts payable under <u>Section</u> <u>2.15</u>, <u>2.16</u> or <u>2.17</u>, or otherwise) prior to the time expressed hereunder or under such Notes Document (or, if no time is expressly required, by 2:00 p.m., Local Time) and, in the case of any payment of principal of or interest on Variable Notes denominated in an Alternative Currency, prior to the Applicable Time, in each case, on the date when due, in immediately available funds, without set-off (except as otherwise provided in <u>Section</u> <u>2.17</u>) or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made (i) in the same currency in which the applicable Note Issuance (with such term including, solely for purposes of this sentence, the making of any Term Note) was made and (ii) to the Administrative Agent to the applicable account designated to the Issuer by the Administrative Agent. The Administrative Agent shall distribute any such payments denominated in the same currency received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. Each Holder agrees that in computing such Holder's portion of any Borrowing to be made hereunder, the Administrative Agent may, in its discretion, round such Holder's percentage of such Borrowing to the next higher or lower whole dollar amount. All payments (including accrued interest) hereunder shall be made in Dollars (or, in the case of Variable Notes denominated in an Alternative Currency, in the applicable Alternative Currency unless (and then to the extent) a payment in Dollars is required under this Agreement). Any payment required to be made by the Administrative Agent hereunder shall be deemed to have been made by the time required if the Administrative Agent shall, at or before such time, have taken the necessary steps to make such payment in accordance with the regulations or operating procedures of the clearing or settlement system used by the Administrative Agent to make such payment. Notwithstanding the foregoing provisions of this <u>Section</u> <u>2.18(a)</u>, if, after the making of any Note Issuance (with such term including, solely for purposes of this sentence, the making of any Term Note) in any Alternative Currency, currency control or exchange regulations are imposed in the country which issues such currency with the result that the type of currency in which the Note Issuance was made (the "**Original Currency**") no longer exists or the respective Issuer is not able to make payment to the Administrative Agent for the account of the applicable Holders in such Original Currency, then all payments to be made by the respective Issuer hereunder in such currency shall instead be made when due in Dollars or in another Alternative Currency reasonably agreed between the Issuer and the Administrative Agent in an amount equal to the Dollar Equivalent or Alternative Currency Equivalent (as of the date of repayment), as applicable, of such payment due, it being the intention of the parties hereto that the respective Issuer takes all risks of the imposition of any such currency control or exchange regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to any Permitted Pari Passu Intercreditor Agreement, proceeds of Collateral received by the Administrative Agent at any time when an Event of Default exists and all or any portion of the Notes have been accelerated hereunder pursuant to <u>Section</u> <u>7.01</u> shall, upon election by the Administrative Agent or at the direction of the Required Holders, be applied <u>first</u>, to the payment of all costs and expenses then due incurred by the Administrative Agent or any Receiver in connection with any collection, sale or realization on Collateral or otherwise in connection with this Agreement, any other Notes Document or any of the Secured Obligations, including all court costs and the fees and expenses of agents and legal counsel, the repayment of all advances made by the Administrative Agent hereunder or under any other Notes Document on behalf of any Note Party and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Notes Document, <u>second</u>, to payment in full of Unfunded Advances/Participations (the amounts so applied to be distributed between or among, as applicable, the Administrative Agent *pro rata* in accordance with the amounts of Unfunded Advances/Participations owed to them on the date of any such distribution), <u>third</u>, on a *pro rata* basis, to

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pay any fees, indemnities or expense reimbursements then due to the Administrative Agent (other than those covered in clause first above) from the Issuer constituting Secured Obligations, <u>fourth</u>, on a *pro rata* basis in accordance with the amounts of the Secured Obligations (other than contingent indemnification obligations for which no claim has yet been made) owed to the Secured Parties on the date of any such distribution (with such calculation to be made using the Dollar Equivalent (as of the date of determination) of any such Secured Obligations denominated in a currency other than Dollars), to the payment in full of the Secured Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If any Holder obtains payment (whether voluntary, involuntary, through the exercise of any right of set-off or otherwise) in respect of any principal of or interest on any of its Notes of any Class held by it resulting in such Holder receiving payment of a greater proportion of the aggregate amount of its Notes of such Class and accrued interest thereon than the proportion received by any other Holder with Notes of such Class, then the Holder receiving such greater proportion shall purchase (for Cash at face value) participations in the Notes of such Class of other Holders of such Class at such time outstanding to the extent necessary so that the benefit of all such payments shall be shared by the Holders of such Class ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Notes of such Class; <u>provided</u> that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not apply to (x) any payment made by the Issuer pursuant to and in accordance with the express terms of this Agreement or (y) any payment obtained by any Holder as consideration for the assignment of or sale of a participation in any of its Notes or Commitments to any permitted assignee or participant, including any payment made or deemed made in connection with <u>Sections</u> <u>2.22</u>, <u>2.23</u> and <u>9.02(c)</u>. Each Issuer consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Holder acquiring a participation pursuant to the foregoing arrangements may exercise against such Issuer rights of set-off and counterclaim with respect to such participation as fully as if such Holder were a direct creditor of such Issuer 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</u> <u>2.18(c)</u> and will, in each case, notify the Holders following any such purchases or repayments. Each Holder that purchases a participation pursuant to this <u>Section</u> <u>2.18(c)</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 Holder were the original owner of the Obligations purchased.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Unless the Administrative Agent has received notice from the Issuer prior to the date on which any payment is due to the Administrative Agent for the account of any Holder hereunder that the applicable Issuer will not make such payment, the Administrative Agent may assume that such Issuer has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the applicable Holder the amount due. In such event, if the applicable Issuer has not in fact made such payment, then each Holder severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Holder with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation (including, without limitation, the Overnight Foreign Currency Rate in the case of Variable Notes denominated in an Alternative Currency).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If any Holder fails to make any payment required to be made by it pursuant to <u>Section</u> <u>2.07(b)</u> or <u>Section</u> <u>2.18(d)</u>, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Holder to satisfy such Holder's obligations under such Sections until all such unsatisfied obligations are fully paid.

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Section 2.19 <u>Mitigation Obligations; Replacement of Holders</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If any Holder requests compensation under <u>Section</u> <u>2.15</u> or such Holder determines it can no longer make or maintain SOFR Notes pursuant to <u>Section</u> <u>2.20</u>, or the Issuer is required to pay any Indemnified Taxes or additional amounts to any Holder or any Governmental Authority for the account of any Holder pursuant to <u>Section</u> <u>2.17</u>, then such Holder shall use reasonable efforts to designate a different lending office for funding or booking its Notes hereunder affected by such event, or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the reasonable judgment of such Holder, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to <u>Section</u> <u>2.15</u> or <u>2.17</u>, as applicable, in the future or mitigate the impact of <u>Section</u> <u>2.20</u>, as the case may be, and (ii) would not subject such Holder to any material unreimbursed out-of-pocket cost or expense and would not otherwise be disadvantageous to such Holder in any material respect. The Issuer hereby agree to pay all reasonable costs and expenses incurred by any Holder 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;(b) If (i) any Holder requests compensation under <u>Section</u> <u>2.15</u> or such Holder determines it can no longer make or maintain SOFR Notes pursuant to <u>Section</u> <u>2.20</u>, (ii) the Issuer is required to pay any Indemnified Taxes or additional amounts to any Holder or any Governmental Authority for the account of any Holder pursuant to <u>Section</u> <u>2.17</u>, (iii) any Holder is a Defaulting Holder or (iv) in connection with any proposed amendment, waiver or consent requiring the consent of "each Holder", "each Variable Note Holder" or "each Holder directly affected thereby" (or any other Class or group of Holders other than the Required Holders) with respect to which Required Holder or Required Variable Note Holder consent (or the consent of Holders holding notes or commitments of such Class or lesser group representing more than 50% of the sum of the total notes and unused commitments of such Class or lesser group at such time) has been obtained, as applicable, any Holder does not consent to such amendment, waiver or consent (each such Holder described in this <u>clause (iv)</u>, a "**Non-Consenting Holder**"), then the applicable Issuer may, at their sole expense and effort, upon notice from the Issuer to such Holder and the Administrative Agent, (x) terminate the applicable Commitments and/or Additional Note Commitments of such Holder, and repay all Obligations of such Issuer owing to such Holder relating to the applicable Notes and participations held by such Holder as of such termination date (<u>provided</u> that if, after giving effect such termination and repayment, the aggregate amount of the Variable Note Exposure exceeds the aggregate amount of the Variable Note Commitments then in effect, then the Issuer shall, not later than the next Business Day, prepay one or more Variable Note Borrowings in an amount necessary to eliminate such excess) or (y) replace such Holder by requiring such Holder to assign and delegate (and such Holder shall be obligated to assign and delegate), without recourse (in accordance with and subject to the restrictions contained in <u>Section</u> <u>9.05</u>), all of its interests, rights and obligations under this Agreement to an Eligible Assignee that shall assume such obligations (which Eligible Assignee may be another Holder, if any Holder accepts such assignment); <u>provided</u> that (A) such Holder shall have received payment of an amount equal to the outstanding principal amount of its Notes, in each case of such Class of Notes, Commitments and/or Additional Note Commitments, accrued interest thereon, accrued fees and all other amounts payable to it under any Notes Document with respect to such Class of Notes, Commitments and/or Additional Note Commitments, (B) in the case of any assignment resulting from a claim for compensation under <u>Section</u> <u>2.15</u> or payments required to be made pursuant to <u>Section</u> <u>2.17</u>, such assignment will result in a reduction in such compensation or payments and (C) such assignment does not conflict with applicable law. No Holder (other than a Defaulting Holder) shall be required to make any such assignment and delegation, and the applicable Issuer may not repay the Obligations of such Holder or terminate its Commitments or Additional Note Commitments, if, prior thereto, as a result of a waiver by such Holder or otherwise, the circumstances entitling such Issuer to require such assignment and delegation cease to apply. Each Holder agrees that if it is replaced pursuant to this <u>Section</u> <u>2.19(b)</u>, it shall execute and deliver to the Administrative Agent an Assignment and Assumption to evidence such sale and purchase and shall deliver to the Administrative Agent any Promissory Note (if the assigning Holder's Notes are evidenced by one or more

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Promissory Notes) subject to such Assignment and Assumption (<u>provided</u> that the failure of any Holder replaced pursuant to this <u>Section</u> <u>2.19(b)</u> to execute an Assignment and Assumption or deliver any such Promissory Note shall not render such sale and purchase (and the corresponding assignment) invalid), such assignment shall be recorded in the Register, any such Promissory Note shall be deemed cancelled. Each Holder hereby irrevocably appoints the Administrative Agent (such appointment being coupled with an interest) as such Holder's attorney-in-fact, with full authority in the place and stead of such Holder and in the name of such Holder, from time to time in the Administrative Agent's discretion, with prior written notice to such Holder, to take any action and to execute any such Assignment and Assumption or other instrument that the Administrative Agent may deem reasonably necessary to carry out the provisions of this <u>clause (b)</u>.

Section 2.20 <u>Illegality</u>. If any Holder reasonably determines that any Change in Law has made it unlawful, or that any Governmental Authority has asserted after the Closing Date that it is unlawful, for such Holder or its applicable lending office to make, maintain or fund Notes whose interest is determined by reference to SOFR, Adjusted Term SOFR or Term SOFR, or to determine or charge interest rates based upon SOFR, Adjusted Term SOFR or Term SOFR, then, on notice thereof by such Holder to the Issuer through the Administrative Agent, (i) any obligation of such Holder to make or continue SOFR Notes in Dollars or to convert ABR Notes to SOFR Notes shall be suspended and (ii) if such notice asserts the illegality of such Holder making or maintaining ABR Notes the interest rate on which is determined by reference to the Adjusted Term SOFR component of the Alternate Base Rate, the interest rate on which ABR Notes of such Holder, shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Adjusted Term SOFR component of the Alternate Base Rate, in each case until such Holder notifies the Administrative Agent and the Issuer that the circumstances giving rise to such determination no longer exist (which notice such Holder agrees to give promptly). Upon receipt of such notice, (x) the applicable Issuer shall, upon demand from such Holder to the Issuer (with a copy to the Administrative Agent), in the case of any such SOFR Notes, prepay or convert all of such Holder's SOFR Notes to ABR Notes (the interest rate on which ABR Notes of such Holder shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Adjusted Term SOFR component of the Alternate Base Rate), either on the last day of the Interest Period therefor, if such Holder may lawfully continue to maintain such SOFR Notes to such day, or immediately, if such Holder may not lawfully continue to maintain such SOFR Notes (in which case the applicable Issuer shall not be required to make payments pursuant to <u>Section</u> <u>2.16</u> in connection with such payment) and (y) if such notice asserts the illegality of such Holder determining or charging interest rates based upon SOFR, Adjusted Term SOFR or Term SOFR, the Administrative Agent shall during the period of such suspension compute the Alternate Base Rate applicable to such Holder without reference to the SOFR, Adjusted Term SOFR or Term SOFR, as applicable, component thereof until the Administrative Agent is advised in writing by such Holder that it is no longer illegal for such Holder to determine or charge interest rates based upon SOFR, Adjusted Term SOFR or Term SOFR, as applicable. Upon any such prepayment or conversion, the applicable Issuer shall also pay accrued interest on the amount so prepaid or converted. Each Holder agrees to designate a different lending office if such designation will avoid the need for such notice and will not, in the determination of such Holder, otherwise be materially disadvantageous to such Holder.

Section 2.21 <u>Defaulting Holders</u>. Notwithstanding any provision of this Agreement to the contrary, if any Holder becomes a Defaulting Holder, then the following provisions shall apply for so long as such Holder is a Defaulting Holder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Fees shall cease to accrue on the unfunded portion of any Commitment of such Defaulting Holder pursuant to <u>Section</u> <u>2.12(a)</u> and pursuant to any other provisions of this Agreement or other Notes Document.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Commitments and the Variable Note Exposure of such Defaulting Holder shall not be included in determining whether all Holders, each affected Holder, the Required Holders, the Required Variable Note Holders or such other number of Holders as may be required hereby or under any other Notes Document have taken or may take any action hereunder (including any consent to any waiver, amendment or modification pursuant to <u>Section</u> <u>9.02</u>); <u>provided</u> that any waiver, amendment or modification requiring the consent of all Holders or each affected Holder which affects such Defaulting Holder disproportionately and adversely relative to other affected Holders shall require the consent of such Defaulting Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of any Defaulting Holder (whether voluntary or mandatory, at maturity, pursuant to <u>Section</u> <u>2.10</u>, <u>Section</u> <u>2.11</u>, <u>Section</u> <u>2.15</u>, <u>Section</u> <u>2.16</u>, <u>Section</u> <u>2.17</u>, <u>Section</u> <u>2.18</u>, <u>Article</u> <u>7</u>, <u>Section</u> <u>9.05</u> or otherwise, and including any amounts made available to the Administrative Agent by such Defaulting Holder pursuant to <u>Section</u> <u>9.09</u>), shall be applied at such time or times as may be determined by the Administrative Agent and, where relevant, the Issuer as follows: <u>first</u>, to the payment of any amounts owing by such Defaulting Holder to the Administrative Agent hereunder; <u>second</u>, so long as no Default or Event of Default exists as the Issuer may request, to the funding of any Note in respect of which such Defaulting Holder has failed to fund its portion thereof as required by this Agreement; <u>third</u>, as the Administrative Agent or the Issuer may elect, to be held in a deposit account and released in order to satisfy obligations of such Defaulting Holder to fund Notes under this Agreement; <u>fourth</u>, to the payment of any amounts owing to the non-Defaulting Holders as a result of any judgment of a court of competent jurisdiction obtained by any non-Defaulting Holder against such Defaulting Holder as a result of such Defaulting Holder's breach of its obligations under this Agreement; <u>seventh</u>, to the payment of any amounts owing to the Issuer as a result of any judgment of a court of competent jurisdiction obtained by such Issuer against such Defaulting Holder as a result of such Defaulting Holder's breach of its obligations under this Agreement; and <u>fifth</u>, to such Defaulting Holder or as otherwise directed by a court of competent jurisdiction; <u>provided</u> that if (x) such payment is a payment of the principal amount of any Note in respect of which such Defaulting Holder has not fully funded its appropriate share and (y) such Note was made or created, as applicable, at a time when the conditions set forth in <u>Section</u> <u>4.02</u> were satisfied or waived, such payment shall be applied solely to pay the Notes of all non-Defaulting Holders on a *pro rata* basis prior to being applied to the payment of any Notes of such Defaulting Holder. Any payments, prepayments or other amounts paid or payable to any Defaulting Holder that are applied (or held) to pay amounts owed by any Defaulting Holder or to post Cash collateral pursuant to this <u>Section</u> <u>2.21(c)</u> shall be deemed paid to and redirected by such Defaulting Holder, and each Holder irrevocably consents hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) [Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) [Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) In the event that the Administrative Agent and the Issuer agree that any Defaulting Holder has adequately remedied all matters that caused such Holder to be a Defaulting Holder, then the Applicable Percentage of Aggregate Variable Note Exposure of the Variable Note Holders shall be readjusted to reflect the inclusion of such Holder's Variable Note Commitment, and on such date such Variable Note Holder shall purchase at par such of the Variable Notes of the other Variable Note Holders or participations in Variable Notes as the Administrative Agent shall determine as are necessary in order for such Variable Note Holder to hold such Variable Notes or participations in accordance with its Applicable Percentage. Notwithstanding the fact that any Defaulting Holder has adequately remedied all matters that caused such Holder to be a Defaulting Holder, (x) no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Issuer while such Holder was a Defaulting Holder and (y) except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Holder to Holder will constitute a waiver or release of any claim of any party hereunder arising from such Holder's having been a Defaulting Holder.

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Section 2.22 <u>Incremental</u> <u>Note Issuance</u><u>s</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Issuer may, at any time, on one or more occasions deliver a written request to the Administrative Agent (whereupon the Administrative Agent shall promptly deliver a copy of such request to each of the Holders) (an "**Incremental Note Request**") to (i) add one or more new tranches of term facilities and/or increase the principal amount of any Class of Initial Term Notes or any Additional Term Notes by requesting new Term Note commitments to be added to such Notes (any such new tranche or increase, an "**Incremental Term Note Facility**" and any notes made pursuant to an Incremental Term Note Facility, "**Incremental Term Notes**") and/or (ii) add one or more new tranches of variable note commitments and/or increase the Total Variable Note Commitment or any Additional Variable Note Commitment (any such new tranche or increase, an "**Incremental Variable Note Facility**" (and, together with any Incremental Term Note Facility, "**Incremental Note Facilities**"); and the notes thereunder, "**Incremental Variable Notes**" and, together with any Incremental Term Notes, "**Incremental Notes**") in an aggregate principal amount not to exceed the Incremental Cap (such effective date of such Incremental Notes, the "**Incremental Effective Date**"); <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;(i) no Incremental Commitment may be less than $10,000,000,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) except as separately agreed from time to time between the Issuer and any Holder, no Holder shall be obligated to provide any Incremental Commitment, and the determination to provide such commitments shall be within the sole and absolute discretion of such 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;(iii) no Incremental Note Facility or Incremental Note (or the creation, provision or implementation thereof) shall require the approval of any existing Holder other than in its capacity, if any, as a Holder providing all or part of any Incremental Note Facility or Incremental 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;(iv) (A) except as otherwise provided herein, the terms of each Incremental Variable Note (other than any terms which are applicable only after the then-existing maturity date with respect to the Variable Note or any Additional Variable Note, as applicable, and other than as permitted under <u>clause (v)</u> below), will be no more favorable to the applicable Holders thereof than those applicable to the Variable Note or otherwise reasonably acceptable to the Administrative Agent (other than in the case of any Incremental Variable Note that is implemented by increasing the amount of then-existing Total Variable Note Commitments (rather than by implementing a new tranche of Variable Note Commitments), which shall have identical terms to such then-existing Total Variable Note Commitments) and (B) no Incremental Variable Note will mature earlier than the then-applicable Latest Variable Note Maturity Date or require any scheduled amortization or mandatory commitment reduction prior to such 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;(v) the interest rate applicable to any Incremental Note Facility or Incremental Notes will be determined by the Issuer and the Holders providing such Incremental Note Facility or Incremental Notes; <u>provided</u> that (A) in the case of any Incremental Term Note Facility or Incremental Term Notes which rank *pari passu* with the Initial Term Notes (or any then-existing Incremental Term Notes which rank *pari passu* with the Initial Term Notes) in right of payment and with respect to security, such interest rate will not be more than 0.50% higher than the corresponding interest rate applicable to such Initial Term Notes (or any then-existing Incremental Term Notes which rank *pari passu* with the Initial Term Notes) unless the interest rate margin with

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respect to such Term Notes is adjusted to be equal to the interest rate with respect to the relevant Incremental Term Note Facility or Incremental Term Notes, *minus* 0.50%; <u>provided</u> <u>further</u> that in determining the applicable interest rate under this <u>clause</u> <u>(v)(A)</u>: (w) original issue discount or upfront fees paid by the Issuer (or any new Issuer in accordance with clause (xvi) below) in connection with any Class of Initial Term Notes or any Incremental Term Note Facility (based on a four-year average life to maturity), shall be included (it being acknowledged and agreed that the original issue discount or upfront fees paid in connection with any Class of Initial Term Notes shall not, for purposes of the clause (v), be affected by any subsequent Incremental Term Note Facility that is implemented by increasing the amount of such Class of Term Notes (rather than by implementing a new tranche of Initial Term Notes)), (x) any amendments to the Applicable Rate in respect of any Class of Initial Term Notes that became effective subsequent to the Closing Date but prior to the time of the addition of the relevant Incremental Term Note Facility or Incremental Term Notes shall be included, (y) arrangement, commitment, structuring and underwriting fees and any amendment fees (regardless of whether such fees are paid to or shared in whole or in part with any Holder) paid or payable to the Administrative Agent (or their Affiliates) in their respective capacities as such in connection with any Initial Term Notes or any Incremental Term Note Facility or to one or more arrangers (or their affiliates) in their capacities as such applicable to the relevant Incremental Term Note Facility or Incremental Term Notes and any other fees not paid to all relevant Holders generally shall be excluded and (z) if the relevant Incremental Term Note Facility or Incremental Term Notes include any Adjusted Term SOFR floor (or any equivalent floor) that is greater than the Floor, and such floor is greater than Adjusted Term SOFR applicable to such Initial Term Notes having an Interest Period of three months on the date of determination, the excess amount shall be equated to interest margin for determining the applicable interest rate, and (B) in the case of any Incremental Variable Note or Incremental Variable Notes which rank *pari passu* with any then existing Variable Note in right of payment and with respect to security, such interest rate will not be more than 0.50% higher than the corresponding interest rate applicable to the such existing Variable Note unless the interest rate margin with respect to such existing Variable Note is adjusted to be equal to the interest rate with respect to the relevant Incremental Variable Note or Incremental Variable Notes, *minus* 0.50%; <u>provided</u> <u>further</u> that in determining the applicable interest rate under this <u>clause</u> <u>(v)(B)</u>: (w) original issue discount or upfront fees paid by the Issuer in connection with an existing Variable Note (based on a four-year average life to maturity), shall be included, (x) any amendments to the Applicable Rate in respect of the then existing Variable Note that became effective subsequent to the establishment of such Variable Note but prior to the time of the addition of the relevant Incremental Variable Note or Incremental Variable Notes shall be included, (y) arrangement, commitment, structuring and underwriting fees and any amendment fees (regardless of whether such fees are paid to or shared in whole or in part with any Holder) paid or payable to the Administrative Agent (or their Affiliates) in their respective capacities as such in connection with such existing Variable Note or to one or more arrangers (or their affiliates) in their capacities as such applicable to the relevant Incremental Variable Note or Incremental Variable Notes and any other fees not paid to all relevant Holders generally shall be excluded and (z) if the relevant Incremental Variable Note or Incremental Variable Notes include any Adjusted Term SOFR floor (or any equivalent floor) that is greater than that applicable to any then existing Variable Note, and such floor is greater than Adjusted Term SOFR applicable to such existing Variable Note having an Interest Period of three months on the date of determination, the excess amount shall be equated to interest margin for determining the applicable interest 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;(vi) the final maturity date with respect to any Incremental Note Facility shall be no earlier than the Latest Term Note Maturity Date at the time of the incurrence thereof,

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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;(vii) the Weighted Average Life to Maturity of any Incremental Term Note Facility shall be no shorter than the remaining Weighted Average Life to Maturity of the then-existing tranche(s) of Term Notes (without giving effect to any prepayments 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;(viii) (A) any Incremental Term Note Facility shall rank *pari passu* with any then-existing tranche of Term Notes in right of payment and may rank *pari passu* with or junior to any then-existing tranche of Term Notes with respect to security or may be unsecured (and to the extent the relevant Incremental Note Facility ranks *pari passu* with or is subordinated to the Term Notes in right of security or is unsecured and documented in a separate agreement to this Agreement) (it being acknowledged and agreed that any such Incremental Term Note Facility that is subordinated to the Term Notes in right of security shall be documented in a separate agreement to this Agreement, it shall be subject to a Permitted Pari Passu Intercreditor Agreement (in the case of an Incremental Note Facility that ranks *pari passu* with any then-existing tranche of Term Notes with respect to security) or a Permitted Junior Intercreditor Agreement (in the case of an Incremental Note Facility that ranks junior to any then-existing tranche of Term Notes with respect to security) and (B) no Incremental Note Facility may be (x) guaranteed by any Person which is not a Note Party (but need not be guaranteed by all such Persons) or (y) secured by any assets other than the Collateral (but need not be secured by all 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;&nbsp;&nbsp;&nbsp;&nbsp;(ix) (A) any prepayment (other than any scheduled amortization payment) of Incremental Term Notes that are *pari passu* with any then-existing Term Notes in right of payment and security shall be made on a *pro rata* basis with such existing Term Notes and (B) any prepayment (other than any scheduled amortization payment) of Incremental Term Notes that are subordinated to any then-existing Term Notes in right of payment or security shall be made on a junior basis with respect to such existing Term Notes (and all other then-existing Additional Term Notes requiring ratable prepayment), except, in the case of preceding clause (A); that the Issuer and the Holders providing the relevant Incremental Term Notes shall be permitted, in their sole discretion, to elect to prepay or receive, as applicable, any prepayments on a less than *pro rata* basis (but not on a greater than *pro rata* 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;(x) except as otherwise agreed by the Holders providing the relevant Incremental Note Facility in connection with any Limited Condition Acquisition (which shall be subject to <u>Section</u> <u>2.22(i)</u>), no Event of Default shall exist immediately prior to or after giving effect to such incremental note facility,

&nbsp;&nbsp;&nbsp;&nbsp;&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) except as otherwise agreed by the Holders providing the relevant Incremental Note Facility in connection with any Limited Condition Acquisition (which shall be subject to <u>Section</u> <u>2.22(</u><u>i</u><u>)</u>), all representations and warranties set forth in <u>Article 3</u> and in each other Notes Document shall be true and correct in all material respects (or, if qualified by materiality, in all respects) on and as of the applicable closing date in respect of such Incremental Note Facility 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 day, in which case they shall be true and correct in all material respects (or, if qualified by materiality, in all 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;&nbsp;&nbsp;&nbsp;&nbsp;(xii) except as otherwise required or permitted in <u>clauses</u> <u>(v)</u> through <u>(ix)</u> above (and other than in the case of any Incremental Term Note Facility that is implemented by increasing the amount of then-existing Term Notes of any Class (rather than by implementing a new Class of Term Notes), which shall have substantially identical terms to such then-existing Class of Term Notes), all other terms of any Incremental Term Note Facility , if more favorable to the Holders thereof than the terms of the Initial Term Notes, shall be reasonably satisfactory to the Issuer and the Administrative Agent (it being understood that any terms which are not consistent with the terms of the Initial Term Notes and are applicable only after the then-existing Latest Term Note Maturity Date are deemed to be reasonably acceptable 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;(xiii) the proceeds of any Incremental Note Facility may be used for working capital and other general corporate purposes and any other use not prohibited by 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;(xiv) on the date of the making of any Incremental Term Notes that will be added to any Class of Initial Term Notes or Additional Term Notes, and notwithstanding anything to the contrary set forth in <u>Section</u> <u>2.08</u> or <u>2.13</u>, such Incremental Term Notes shall be added to (and constitute a part of) each borrowing of outstanding Initial Term Notes or Additional Term Notes, as applicable, of the same Type with the same Interest Period of the respective Class on a *pro rata* basis (based on the relative sizes of the various outstanding Borrowings), so that each Term Holder providing such Incremental Term Notes will participate proportionately in each then outstanding borrowing of Initial Term Notes or Additional Term Notes, as applicable, of the same type with the same Interest Period of the respective Class;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) at no time shall there be more than three separate Maturity Dates in effect with respect to the Variable Note and any existing Additional Variable Note 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;(xvi) (A) the Issuer or (subject to this inclusion of "collateral allocation mechanism" provisions reasonably satisfactory to the Administrative Agent) one or more Wholly-Owned Subsidiaries of the Issuer reasonably acceptable to the Administrative Agent shall be the issuer(s) under any Incremental Term Note Facility and, (B) the Issuer or (subject to this inclusion of "collateral allocation mechanism" provisions reasonably satisfactory to the Administrative Agent) one or more Wholly-Owned Subsidiaries of the Issuer reasonably acceptable to the Administrative Agent shall be the issuer(s) under any Incremental Variable Note; 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;(xvii) the currency of any Incremental Note Facility shall be Dollars or, if agreed by all of the Holders or Additional Purchasers providing such Incremental Note Facility , an Alternative Currency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Incremental Commitments may be provided by any existing Holder, or by any other Holder (other than any Disqualified Institution) (any such other Holder being called an "**Additional Purchaser**"); <u>provided</u> that the Administrative Agent (and, in the case of any Incremental Variable Note) shall have consented (such consent not to be unreasonably withheld) to the relevant Additional Purchaser's provision of Incremental Commitments if such consent would be required under <u>Section</u> <u>9.05(b)</u> for an assignment of Notes to such Additional Purchaser; <u>provided</u> <u>further</u> that any Additional Purchaser that is an Affiliated Holder shall be subject to the provisions of <u>Section</u> <u>9.05(g)</u>, *mutatis mutandis*, to the same extent as if Incremental Commitments and related Obligations had been obtained by such Holder by way of assignment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Holder or Additional Purchaser providing a portion of any Incremental Commitment shall execute and deliver to the Administrative Agent and the Issuer all such documentation (including an amendment to this Agreement or any other Notes Document) as may be reasonably required by the Administrative Agent to evidence and effectuate such Incremental Commitment and/or the Incremental Notes thereunder. On the effective date of such Incremental Commitment, each such Additional Purchaser shall become a Holder for all purposes in connection with 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;(d) As a condition precedent to the effectiveness of any Incremental Note Facility or the making of any Incremental Notes, (i) upon its reasonable request, the Administrative Agent shall have received customary written opinions of counsel, as well as such reaffirmation agreements, supplements and/or amendments as it shall reasonably require, (ii) the Administrative Agent shall have received, from each Additional Purchaser, an Administrative Questionnaire and such other documents as it shall reasonably require from such Additional Purchaser, and the Administrative Agent and Holders shall have received all fees required to be paid in respect of such Incremental Note Facility or Incremental Notes and (iii) the Administrative Agent shall have received a certificate of the applicable Issuer signed by a Responsible Officer 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;(i) certifying and attaching a copy of the resolutions adopted by the governing body of the applicable Issuer approving or consenting to such Incremental Note Facility and/or Incremental Notes, 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;(ii) to the extent applicable, certifying that the conditions set forth in <u>clause</u> <u>(a)(x)</u> and <u>clause (a)(xi)</u> above have been satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Upon the implementation of any Incremental Variable Note pursuant to this <u>Section</u> <u>2.22</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;(i) if such Incremental Variable Note is implemented by increasing the amount of then-existing Total Variable Note Commitments (rather than by implementing a new tranche of Variable Note Commitments), the existing Variable Note Holders of the applicable Class shall assign Variable Notes to certain other Variable Note Holders of such Class (including the Variable Note Holders providing the relevant Incremental Variable Note), and such other Variable Note Holders (including the Variable Note Holders providing the relevant Incremental Variable Note) shall purchase such Variable Notes, in each case to the extent necessary so that all of the Variable Note Holders of such Class participate in each outstanding Borrowing of Variable Notes *pro rata* on the basis of their respective Variable Note Commitments of such Class (after giving effect to any increase in the Variable Note Commitment pursuant to this <u>Section</u> <u>2.22</u>); it being understood and agreed that the minimum borrowing, *pro rata* borrowing and *pro rata* payment and sharing requirements contained elsewhere in this Agreement shall not apply to the transactions effected pursuant to this <u>clause</u> <u>(i)</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;(ii) if such Incremental Variable Note is implemented pursuant to a request to add one or more new tranches of variable note commitments, (1) the borrowing and repayment (except for (A) payments of interest and fees at different rates on the existing Variable Notes and such Incremental Variable Note, (B) repayments required upon the Maturity Date of the then-existing Variable Note and such Incremental Variable Note and (C) repayments made in connection with any permanent repayment and termination of commitments (subject to <u>clause (3)</u> below)) of Incremental Variable Notes after the effective date of such Incremental Variable Note Commitments shall be made on a *pro rata* basis with the then-existing Variable Note and any other then outstanding Incremental Variable Note, (2) [reserved] and (3) the permanent repayment of Variable Notes with respect to, and termination of commitments under, such Incremental Variable Note shall be made on a *pro rata* basis with the then-existing Variable Note and any other then outstanding Incremental Variable Note, except that the Issuer shall be permitted to permanently repay and terminate commitments under such Incremental Variable Note on a greater than *pro rata* basis as compared with any other variable note with a later Maturity Date than such variable note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) [Reserved].

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) To the extent that any Incremental Term Notes are added to any then outstanding Class of Initial Term Notes or Additional Term Notes, as applicable, it is acknowledged that (i) the scheduled amortization payments set forth in <u>Section</u> <u>2.10</u> shall be adjusted to give effect to the increase in the relevant Class and (ii) the operation of <u>clause (a)(xiv)</u> above may result in such new Incremental Term Notes having short Interest Periods (i.e., an Interest Period that began during an Interest Period then applicable to outstanding SOFR Notes of the respective Class and which will end on the last day of such Interest Period).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Limited Condition Acquisitions</u>. Notwithstanding the foregoing provisions of this <u>Section</u> <u>2.22</u> or in any other provision of any Notes 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;(i) if the proceeds of any Incremental Note Facility are intended to be applied to finance a Limited Condition Acquisition, the conditions precedent to the Issuer's right to request such Incremental Note Facility for a Limited Condition Acquisition shall (so long as the requirements of <u>Section</u> <u>2.22(a)</u> (other than <u>clauses (x)</u> and <u>(xi)</u> thereof) are met with respect to such Incremental Note Facility) be limited to the following: (a) on the date of the signing of the definitive acquisition agreement for such Limited Condition Acquisition (x) no Event of Default shall have occurred and be continuing (y) each of the representations and warranties contained in the Notes Documents shall be true and correct in all material respects (except (I) with respect to representations and warranties expressly made as of an earlier date, in which case such representations and warranties were true and correct in all material respects as of such earlier date and (II) that if any such representation or warranty contains any materiality qualifier, such representation or warranty shall be true and correct in all respects); and (b) at the date of closing of such Limited Condition Acquisition and the funding of the applicable Incremental Note Facility, (A) no Event of Default under <u>Section</u> <u>7.01(a)</u>, <u>(f)</u> or <u>(g)</u> shall have occurred and be continuing, (B) the only representations and warranties the accuracy of which shall be a condition to funding such advance shall be the Specified Representations and the Specified Acquisition Agreement Representations, 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;(ii) in the case of the incurrence of any indebtedness or liens or the making of any investments, restricted payments, prepayments of subordinated or junior debt, asset sales or fundamental changes or the designation of any restricted subsidiaries or unrestricted subsidiaries in connection with a Limited Condition Acquisition, at the Issuer's option, the relevant ratios and baskets (other than those set forth in clause (a), (b), (c) and (d) of the definition of "Incremented Cap") shall be determined, and any default or event of default blocker shall be tested, as of the date the definitive acquisition agreements for such Limited Condition Acquisition are entered into and, subject to the second proviso contained in this clause (ii), calculated as if the acquisition and other pro forma events in connection therewith were consummated on such date; *provided* that if the Issuer has made such an election, in connection with the calculation of any ratio or basket with respect to the incurrence of any debt or liens, or the making of any investments, restricted payments, prepayments of subordinated, junior or unsecured debt, asset sales, fundamental changes or the designation of a restricted subsidiary or unrestricted subsidiary on or following such date and prior

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to the earlier of the date on which such acquisition is consummated or the definitive agreement for such acquisition is terminated, any such ratio shall, subject to the proviso below, be calculated on a pro forma basis assuming such acquisition and other pro forma events in connection therewith (including any incurrence of indebtedness) have been consummated; *provided* that the consolidated net income (and any other financial defined term derived therefrom) shall not include any consolidated net income of or attributable to the target company or assets associated with any such Limited Condition Acquisition unless and until the closing of such Limited Condition Acquisition shall have actually occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) This <u>Section</u> <u>2.22</u> shall supersede any provision in <u>Section</u> <u>2.18</u> or <u>9.02</u> to the contrary.

Section 2.23 <u>Issuances of Notes and Variable Note Commitments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding anything to the contrary in this Agreement, pursuant to one or more offers (each, an "**Extension Offer**") made from time to time by the Issuer to all Holders holding Notes of any Class with a like Maturity Date or commitments with a like Maturity Date, in each case on a *pro rata* basis (based on the aggregate outstanding principal amount of the respective Notes or commitments with a like Maturity Date) and on the same terms to each such Holder, the Issuer is hereby permitted from time to time to consummate transactions with any individual Holder who accepts the terms contained in any such Extension Offer to extend the Maturity Date of such Holder's Notes and/or commitments and otherwise modify the terms of such Notes and/or commitments pursuant to the terms of the relevant Extension Offer (including by increasing the interest rate or fees payable in respect of such Notes and/or commitments (and related outstandings) and/or modifying the amortization schedule in respect of such Notes) (each, an "**Extension**", and each group of Notes or commitments, as applicable, in each case as so extended, as well as the original Notes and the original commitments (in each case not so extended), being a "**tranche**"; any Extended Term Notes shall constitute a separate tranche (and Class) of Notes from the tranche of Notes from which they were converted and any Extended Variable Note Commitments shall constitute a separate tranche (and Class) of variable note commitments from the tranche of variable note commitments from which they were converted), so long as the following terms 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;&nbsp;&nbsp;&nbsp;&nbsp;(i) no Default under <u>Section</u> <u>7.01(a)</u>, <u>(f)</u> or <u>(g)</u> or Event of Default shall exist at the time the notice in respect of an Extension Offer is delivered to the applicable Holders, and no Default under <u>Section</u> <u>7.01(a)</u>, <u>(f)</u> or <u>(g)</u> or Event of Default shall exist immediately prior to or after giving effect to the effectiveness of any 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;&nbsp;&nbsp;&nbsp;&nbsp;(ii) except as to (x) interest rates, fees and final maturity (which shall, subject to <u>clause</u> <u>(iv)(y)</u> below, be determined by the Issuer and any Holder who agrees to an Extension and set forth in the relevant Extension Offer) and (y) any covenants or other provisions applicable only to periods after the Latest Variable Note Maturity Date (in each case, as of the date of such Extension), the commitment of any Variable Note Holder that agrees to an Extension (an "**Extended Variable Note Commitment**"; and the Notes thereunder, "**Extended Variable Notes**"), and the related outstandings, shall be a Variable Note Commitment (or related outstandings, as the case may be) with the same terms (or terms not less favorable to existing Variable Note Holders) as the original Variable Note Commitments (and related outstandings) provided hereunder; <u>provided</u> that (I) to the extent any non-extended portion of the Variable Note and/or any Additional Variable Note then exists, (1) the borrowing and repayment (except for (A) payments of interest and fees at different rates on such revolving facilities (and related outstandings), (B) repayments required upon the Maturity Date of such revolving facilities and (C) repayments made in connection with any permanent repayment and termination of commitments (subject to <u>clause</u> <u>(3)</u> below)) of Extended Variable Notes after the effective date of

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such Extended Variable Note Commitments shall be made on a *pro rata* basis with such portion of the Variable Note and/or the relevant Additional Variable Note, as applicable and (2) the permanent repayment of Extended Variable Notes with respect to, and termination of commitments under, any such Extended Variable Note Commitment after the effective date of such Extended Variable Note Commitments shall be made on a *pro rata* basis with such portion(s) of the Variable Note and/or any Additional Variable Note, except that the Issuer shall be permitted to permanently repay and terminate commitments of any such Variable Note and/or Additional Variable Note on a greater than *pro rata* basis as compared with any other variable note with a later Maturity Date than such Variable Note and/or Additional Variable Note and (II) at no time shall there be more than three separate Classes of variable note commitments hereunder (including Variable Note Commitments, Incremental Variable Note Commitments, Extended Variable Note Commitments and Replacement Variable 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;&nbsp;&nbsp;&nbsp;&nbsp;(iii) except as to (x) interest rates, fees, amortization, final maturity date, premiums, required prepayment dates and participation in prepayments (which shall, subject to immediately succeeding <u>clauses (iv)(x)</u>, <u>(v)</u> and <u>(vi)</u>, be determined by the Issuer and any Holder who agrees to an Extension and set forth in the relevant Extension Offer) and (y) any covenants or other provisions applicable only to periods after the Latest Term Note Maturity Date (in each case, as of the date of such Extension), the Term Notes of any Holder extended pursuant to any Extension (any such extended term Notes, the "**Extended Term Notes**") shall have the same terms as the tranche of Term Notes subject to the relevant Extension Offer; <u>provided</u>, <u>however</u>, that with respect to representations and warranties, affirmative and negative covenants (including financial covenants) and events of default that are applicable to any such tranche of Extended Term Notes, such provisions may be more favorable to the Holders of the applicable tranche of Extended Term Notes than those originally applicable to the tranche of Term Notes subject to the relevant Extension Offer, so long as (and only so long as) such provisions also expressly apply to (and for the benefit of) the tranche of Term Notes subject to the relevant Extension Offer and each other Class of Term Notes 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;(iv) (x) the final maturity date of any Extended Term Notes shall be no earlier than the then applicable Latest Term Note Maturity Date at the time of Extension and (y) no Extended Variable Note Commitments or Extended Variable Notes shall have a final maturity date earlier than (or require commitment reductions prior to) the then applicable Latest Variable Note 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;(v) the Weighted Average Life to Maturity of any Extended Term Notes shall be no shorter than the remaining Weighted Average Life to Maturity of the Term Notes extended thereby (or any other Extended Term Notes then 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;&nbsp;&nbsp;&nbsp;&nbsp;(vi) any Extended Term Notes may participate on a *pro rata* basis or a less than *pro rata* basis (but not greater than a *pro rata* basis) in any voluntary or mandatory repayments or prepayments (but, for purposes of clarity, not scheduled amortization payments) in respect of the Initial Term Notes (and any Additional Term Notes then subject to ratable repayment requirements with respect to the Initial Term Notes), in each case as specified in the respective Extension Offer;

&nbsp;&nbsp;&nbsp;&nbsp;&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) if the aggregate principal amount of Notes or commitments, as the case may be, in respect of which Holders shall have accepted the relevant Extension Offer exceeds the maximum aggregate principal amount of Notes or commitments, as the case may be, offered to be extended by the Issuer pursuant to such Extension Offer, then the Notes or commitments, as the case may be, of such Holders shall be extended ratably up to such maximum amount based on the respective principal amounts (but not to exceed actual holdings of record) with respect to which such Holders have accepted such Extension Offer;

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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;(viii) each Extension shall be in a minimum amount of $20,000,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) any applicable Minimum Extension Condition shall be satisfied or waived by the Issuer; 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;(x) all documentation in respect of such Extension shall be consistent with the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) With respect to any Extension consummated pursuant to this <u>Section</u> <u>2.23</u>, (i) no such Extension shall constitute a voluntary or mandatory prepayment for purposes of <u>Section</u> <u>2.11</u>, (ii) the scheduled amortization payments (in so far as such schedule affects payments due to Holders participating in the relevant Class) set forth in <u>Section</u> <u>2.10</u> shall be adjusted to give effect to such Extension of the relevant Class and (iii) except as set forth in <u>clause</u> <u>(a)(viii)</u> above, no Extension Offer is required to be in any minimum amount or any minimum increment; <u>provided</u> that the Issuer may, at its election, specify as a condition (a "**Minimum Extension Condition**") to consummating such Extension that a minimum amount (to be determined and specified in the relevant Extension Offer in the Issuer's sole discretion and which may be waived by the Issuer) of Notes or commitments (as applicable) of any or all applicable tranches be tendered. The Administrative Agent and the Holders hereby consent to the transactions contemplated by this <u>Section</u> <u>2.23</u> (including, for the avoidance of doubt, any payment of any interest, fees or premium in respect of any tranche of Extended Term Notes and/or Extended Variable Note Commitments on such terms as may be set forth in the relevant Extension Offer) and hereby waive the requirements of any provision of this Agreement (including <u>Section</u> <u>2.10</u>, <u>2.11</u> or <u>2.18</u>) or any other Notes Document that may otherwise prohibit any Extension or any other transaction contemplated by this <u>Section</u> <u>2.23</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No consent of any Holder or the Administrative Agent shall be required to effectuate any Extension, other than the consent of each Holder agreeing to such Extension with respect to one or more of its Notes and/or commitments under any Class (or a portion thereof). All Extended Term Notes and Extended Variable Note Commitments and all obligations in respect thereof shall constitute Secured Obligations under this Agreement and the other Notes Documents that are secured by the Collateral and guaranteed on a *pari passu* basis in right of payment and with respect to security with all other applicable Secured Obligations under this Agreement and the other Notes Documents. The Holders hereby irrevocably authorize the Administrative Agent to enter into such amendments to this Agreement and the other Notes Documents with the applicable Issuer(s) and/or any other applicable Note Parties as may be necessary in order to establish new tranches or sub-tranches in respect of Notes or commitments so extended and such technical amendments as may be necessary or appropriate in the reasonable opinion of the Administrative Agent and the Issuer in connection with the establishment of such new tranches or sub-tranches, in each case on terms consistent with this <u>Section</u> <u>2.23</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In connection with any Extension, the Issuer shall provide the Administrative Agent at least ten Business Days' (or such shorter period as may be agreed by the Administrative Agent) prior written notice thereof, and shall agree to such procedures (including regarding timing, rounding and other adjustments and to ensure reasonable administrative management of the credit facilities hereunder after such Extension), 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</u> <u>2.23.</u>

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Section 2.24 <u>Representations of the Purchasers</u>. By execution of this Agreement, each Purchaser represents as follows 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;(a) such Purchaser has all requisite power and authority to enter into the Notes Documents to which it is a party, to purchase the Notes on the Closing Date and to carry out and perform its obligations under the Notes Documents to which it is a party and each such Notes Document to which it is a party constitutes a legal, valid and binding obligation of such Purchaser, enforceable in accordance with its terms, subject to the Legal Reservations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) such Purchaser severally represents that it is purchasing the Notes for its own account or for one or more separate accounts maintained by such Purchaser or for the account of one or more managed funds and not with a view to the distribution thereof within the meaning of the Securities Act, provided that the disposition of such Purchaser's or their property shall at all times be and remain within such Purchaser's or their control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) such Purchaser understands and acknowledges that the Notes have not been registered under the Securities Act or any state securities laws and may be resold only if registered pursuant to the provisions of the Securities Act and in compliance with applicable state securities laws or if an exemption from registration is available, except under circumstances where neither such registration nor such an exemption is required by law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) such Purchaser is an "accredited investor" (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D promulgated under the Securities Act) acting for its own account or as a fiduciary or agent for others who are also "accredited investors"; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) such Purchaser has received or had access to business and financial information of the Issuer and information regarding the Notes, and has had an opportunity to ask questions and received answers concerning the Issuer and the Notes, which has been sufficient for such Purchaser to make an informed decision regarding an investment in the Notes.

Section 2.25 <u>AHYDO</u>. Notwithstanding anything to the contrary set forth in this Agreement and the Notes Documents, if at the end of any accrual period (as defined in Section 1272(a)(5) of the Code) ending after the fifth (5th) anniversary of the date on which a Note is issued, the amount of accrued but unpaid original issue discount and interest (as determined pursuant to the Code) exceeds the product of (x) the issue price (as defined in Sections 1273(b) and 1274(a) of the Code and the regulations promulgated thereunder) and (y) the yield to maturity (interpreted in accordance with Section 163(i) of the Code (the "**Maximum Amount**"), then interest for such accrual period shall not be deferred and all accrued but unpaid interest and original issue discount (as determined by pursuant to the Code) as of the end of such accrual period shall be paid in an amount not less than the amount required to reduce the accrued but unpaid original issue discount at the end of such period to an amount less than the Maximum Amount (the "**AHYDO Interest Payment**"). No partial prepayment of the Notes pursuant to any other provision of this Agreement or the other Notes Documents shall alter the obligation of the Issuer to make payments provided for in this Section. For the avoidance of doubt and notwithstanding anything to the contrary herein, this Section shall be construed so as to require payments to be made in cash and at such times and in such amounts so as to cause the Notes to not be treated as having been issued with "significant original issue discount" within the meaning of Section 163(i)(2) pursuant to the Code.

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ARTICLE 3

REPRESENTATIONS AND WARRANTIES

On the Closing Date, and thereafter on the dates and to the extent required pursuant to <u>Section</u> <u>4.02</u>, each of Holdings and the Issuer hereby represent and warrant to the Administrative Agent and each of the Holders that:

Section 3.01 <u>Organization; Powers</u>. Holdings, each of the Note Parties and each of its Restricted Subsidiaries (a) is (i) duly organized or incorporated and validly existing and (ii) in good standing (to the extent such concept or an equivalent concept exists in the relevant jurisdiction) under the laws of its jurisdiction of organization or incorporation, (b) has all requisite organizational power and authority to own its property and assets and to carry on its business as now conducted and (c) is qualified to do business in, and is in good standing (to the extent such concept exists in the relevant jurisdiction) in, every jurisdiction where its ownership, lease or operation of properties or conduct of its business requires such qualification; except, in each case referred to in this <u>Section</u> <u>3.01</u> (other than <u>clause (a)</u> with respect to the Issuer and <u>clause</u> <u>(b)</u> with respect to Holdings and the Note Parties) where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

Section 3.02 <u>Authorization; Enforceability</u>. The execution, delivery and performance of each of the Notes Documents are within Holdings' and/or each applicable Note Party's corporate or other organizational power and have been duly authorized by all necessary corporate or other organizational action of Holdings and such Note Party. Each Notes Document to which Holdings and/or any Note Party is a party has been duly executed and delivered by Holdings and/or such Note Party and is a legal, valid and binding obligation of Holdings and/or such Note Party, enforceable in accordance with its terms, subject to the Legal Reservations.

Section 3.03 <u>Governmental Approvals; No Conflicts</u>. The execution and delivery of the Notes Documents by Holdings and/or each Note Party party thereto and the performance by Holdings and/or such Note Party thereof (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except (i) such as have been obtained or made and are in full force and effect, (ii) in connection with the Perfection Requirements and (iii) such consents, approvals, registrations, filings, or other actions the failure to obtain or make which could not be reasonably expected to have a Material Adverse Effect, (b) will not violate any (i) of such Note Party's Organizational Documents or (ii) Requirements of Law applicable to Holdings and/or such Note Party which violation, in the case of this <u>clause (b)(ii)</u>, could reasonably be expected to have a Material Adverse Effect and (c) will not violate or result in a default under any other material Contractual Obligation to which Holdings and/or such Note Party is a party which violation, in the case of this <u>clause (c)</u>, could reasonably be expected to result in a Material Adverse Effect.

Section 3.04 <u>Financial Condition; No Material Adverse Effect</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The financial statements described in <u>Sections 4.01(c)(i)</u> and <u>(ii)</u> (or if applicable, the financial statements most recently provided pursuant to <u>Section</u> <u>5.01(a)</u> or <u>(b)</u>, as applicable), present fairly, in all material respects, the financial position and results of operations and cash flows of the Applicable Reporting Company on a consolidated basis as of such dates and for such periods in accordance with GAAP, subject, in the case of financial statements provided pursuant to <u>Section</u> <u>4.01(c)(i)</u> or <u>Section</u> <u>5.01(a)</u>, to the absence of footnotes and normal year-end adjustments.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as set forth in the Disclosure Documents, since December 31, 2023, there have been no events, developments or circumstances that have had, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

Section 3.05 <u>Properties</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) As of the Closing Date, <u>Schedule</u> <u>3.05</u> sets forth the address of each Real Estate Asset (or each set of such assets that collectively comprise one operating property) that is owned in fee simple by the Issuer or any of their Restricted Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Issuer and each of their Restricted Subsidiaries have good and valid fee simple title to or rights to purchase, or valid leasehold interests in, or easements or other limited property interests in, all of their respective Real Estate Assets and have good title to their personal property and assets, in each case, except (i) for defects in title that do not materially interfere with their ability to conduct their business as currently conducted or to utilize such properties and assets for their intended purposes or (ii) where the failure to have such title would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. All such properties and assets are free and clear of Liens, other than Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Issuer and their Restricted Subsidiaries own or otherwise have a license or right to use all rights in Patents, Trademarks, Copyrights and other rights in works of authorship (including all copyrights embodied in software) and all other intellectual property rights (collectively, the "**IP Rights**") used to conduct the businesses of the Issuer and their Restricted Subsidiaries as presently conducted without, to the knowledge of the Issuer, any infringement or misappropriation of the IP Rights of third parties, except to the extent such failure to own or license or have rights to use would not, or where such infringement or misappropriation would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

Section 3.06 <u>Litigation and Environmental Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as set forth in the Disclosure Documents, there are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge of the Issuer, threatened in writing against or affecting Holdings, the Issuer or any of their Restricted Subsidiaries which would 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except for any matters that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect, (i) no Issuer nor any of its Restricted Subsidiaries is subject to or has received notice of any Environmental Claim or any Environmental Liability or knows of any basis for any Environmental Liability of such Issuer or any of its Restricted Subsidiaries and (ii) no Issuer nor any of its Restricted Subsidiaries has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Neither the Issuer nor any of its Restricted Subsidiaries has treated, stored, transported or Released any Hazardous Materials on, at or from any currently or formerly operated real estate or Real Estate Facility in a manner that would reasonably be expected to have a Material Adverse Effect.

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Section 3.07 <u>Compliance with Laws</u>. Each of Holdings, the Issuer and each of the Issuer' Restricted Subsidiaries is in compliance with all Requirements of Law applicable to it or its property, except, in each case where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

Section 3.08 <u>Investment Company Status</u>. No Note Party, nor Holdings, is an "investment company" as defined in, or is required to be registered under, the Investment Company Act of 1940.

Section 3.09 <u>Taxes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each of Holdings, the Issuer, and each of the Issuer' Restricted Subsidiaries has timely filed or caused to be filed all Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it that are due and payable, except (a) Taxes that are being contested in good faith by appropriate proceedings diligently conducted and for which the applicable Person has set aside on its books adequate reserves in accordance with GAAP or (b) to the extent that the failure to do so, individually or in the aggregate, would 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;(b) From and after the earlier of (i) the Quoted Eurobond Listing Date and (ii) December 31, 2024, the Notes are "quoted Eurobonds" for the purposes of section 882 ITA 2007 and within the meaning contained in section 987 ITA 2007.

Section 3.10 <u>ERISA</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Plan is in compliance in form and operation with its terms and with ERISA and the Code and all other applicable laws and regulations, except where any failure to comply would 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;(b) No ERISA Event has occurred and is continuing or is reasonably expected to occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur, would reasonably be expected to result in a Material Adverse Effect.

Section 3.11 <u>Disclosure</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) As of the Closing Date, all written information (other than the Projections, other forward-looking information and information of a general economic or industry-specific nature) concerning any Parent Company, Holdings, the Issuer and the Issuer' Restricted Subsidiaries and the Transactions and prepared by or on behalf of the Issuer or its subsidiaries or their respective representatives and made available to any Holder or the Administrative Agent in connection with the Transactions on or before the Closing Date (the "**Information**"), when taken as a whole, did not, when furnished, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein not materially misleading in light of the circumstances under which such statements are made (after giving effect to all supplements and updates thereto from time to time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Projections have been prepared in good faith based upon assumptions believed by the Issuer to be reasonable at the time furnished (it being recognized that such Projections are not to be viewed as facts and are subject to significant uncertainties and contingencies many of which are beyond the Issuer' control, that no assurance can be given that any particular financial projections (including the Projections) will be realized, that actual results may differ from projected results and that such differences may be material).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As of the Closing Date, the information included in any Beneficial Ownership Certification (if applicable) is true and correct in all respects.

Section 3.12 <u>Solvency</u>. As of the Closing Date, immediately after the consummation of the Transactions to occur on the Closing Date and the incurrence of indebtedness and obligations on the Closing Date in connection with this Agreement and the other Transactions, (i) the fair value of the assets of the Issuer and their Restricted Subsidiaries on a consolidated basis, at a fair valuation, will exceed the debts and liabilities, direct, subordinated, contingent or otherwise, of the Issuer and their Restricted Subsidiaries on a consolidated basis; (ii) the present fair saleable value of the property of the Issuer and their Restricted Subsidiaries on a consolidated basis will be greater than the amount that will be required to pay the probable liability of the Issuer and their Restricted Subsidiaries on a consolidated basis on their debts and other liabilities, direct, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured; (iii) the Issuer and their Restricted Subsidiaries on a consolidated basis will be able to pay their debts and liabilities, direct, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured; and (iv) the Issuer and their Restricted Subsidiaries on a consolidated basis will not have unreasonably small capital with which to conduct the businesses in which they are engaged as such businesses are now conducted and are proposed to be conducted following the Closing Date.

Section 3.13 <u>Capitalization and Subsidiaries</u>. <u>Schedule</u> <u>3.13</u> sets forth, in each case as of the Closing Date, (a) a correct and complete list of the name of each subsidiary of Holdings and the ownership interest therein held by Holdings or its applicable subsidiary, (b) the type of entity of Holdings and each of its subsidiaries and (c) the jurisdiction of incorporation or organization thereof.

Section 3.14 <u>Security Interest in Collateral</u>. Subject to the terms of the last paragraph of <u>Section</u> <u>4.01</u>, the Legal Reservations, the Perfection Requirements, the provisions of this Agreement and the other relevant Notes Documents, the Collateral Documents will, upon execution and delivery thereof in accordance with <u>Section</u> <u>4.01(a)</u>, <u>Section</u> <u>5.12</u> or Section 5.18 hereof (as applicable), create legal, valid and enforceable Liens on all of the Collateral in favor of the Administrative Agent, for the benefit of itself and the other Secured Parties, and upon the satisfaction of the Perfection Requirements, such Liens constitute perfected Liens (with the priority that such Liens are expressed to have under the relevant Collateral Documents) on the Collateral (to the extent such Liens are required to be perfected under the terms of the Notes Documents) securing the Secured Obligations, in each case as and to the extent set forth therein.

Section 3.15 <u>Labor Disputes</u>. Except as individually or in the aggregate would not reasonably be expected to have a Material Adverse Effect: (a) there are no strikes, lockouts or slowdowns against the Issuer or any of their Restricted Subsidiaries pending or, to the knowledge of the Issuer or any of their Restricted Subsidiaries, threatened and (b) the hours worked by and payments made to employees of the Issuer and their Restricted Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Federal, state, local or foreign law dealing with such matters.

Section 3.16 <u>Federal Reserve Regulations</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On the Closing Date, not more than 25% of the value of the assets of Holdings, the Issuer and the Issuer' Restricted Subsidiaries taken as a whole is represented by Margin Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) None of the Issuer nor any of the Issuer' Restricted Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of buying or carrying Margin Stock.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No part of the proceeds of any Note will be used, whether directly or indirectly, and whether immediately, incidentally or ultimately, for any purpose that results in a violation of the provisions of Regulation T, Regulation U or Regulation X.

Section 3.17 <u>Use of Proceeds</u>. Issuer will use the proceeds of any Borrowing on the Closing Date to fund the Refinancing and the Transaction Costs, and use the proceeds of any Borrowing on or after the Closing Date, for any purpose not otherwise prohibited under this Agreement, including for general corporate purposes, working capital needs, the repayment of Indebtedness, the making of Restricted Payments and the making of Investments.

Section 3.18 <u>Senior Debt</u>. The Obligations constitute (a) "Senior Debt" (or the equivalent thereof) under the documentation governing or evidencing any Indebtedness in excess of the Threshold Amount of any Note Party permitted to be incurred hereunder constituting Indebtedness that is subordinated in right of payment to the Obligations and (b) "First Lien Debt" (or the equivalent thereof) under the documentation governing or evidencing any Indebtedness in excess of the Threshold Amount of any Note Party permitted to be incurred hereunder constituting Indebtedness that is secured by a Lien that is junior to the Liens securing the Obligations.

Section 3.19 <u>Economic and Trade Sanctions and Anti-Corruption Laws</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (i) None of Holdings, the Issuer nor any of the Issuer' Restricted Subsidiaries nor, to the knowledge of the Issuer, any director, officer, agent, employee or Affiliate of any of the foregoing is (A) the subject of any U.S. sanctions administered or enforced by the Office of Foreign Assets Control of the U.S. Treasury Department ("**OFAC**") or the U.S. State Department, the United Nations, the European Union, His Majesty's Treasury, or other relevant sanctions authority (collectively, "**Sanctions**"), or (B) located, organized or resident in a country, region or territory that is, or whose government is, the subject of Sanctions (currently Cuba, Iran, North Korea, Syria, the so-called Donetsk People's Republic, the so-called Luhansk People's Republic, and the Crimea Region of Ukraine); and (ii) no Issuer will directly or indirectly, use the proceeds of the Notes or lend, contribute, or otherwise make available such proceeds to any Person, for the purpose of financing the activities of or with any Person, or in any country or territory, that currently is, or whose government is, the subject of any Sanctions, except to the extent licensed or otherwise approved, or in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the Notes or other Note Issuances, whether as Holder, advisor, investor or otherwise)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To the extent applicable, each Note Party is in compliance in all material respects with (i) each of the foreign assets control regulations of the U.S. Treasury Department (31 CFR, Subtitle B, Chapter V), and any other enabling legislation or executive order relating thereto and (ii) the USA PATRIOT Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No part of the proceeds of any Note will be used, directly or, to the knowledge of the Issuer, 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 improperly obtain, retain or direct business or obtain any improper advantage, in violation of the U.S. Foreign Corrupt Practices Act of 1977 (the "**FCPA**") or any other applicable anti-bribery law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The representations and undertakings in this Section 3.19 shall only be given by Intermediate Holding and the Issuer and shall, except in respect of the U.S. Co-Issuer, only apply for the benefit of any Holder or the Administrative Agent to the extent that giving, complying with or receiving the benefit of (as applicable) such representations and undertakings does not result in any violation of Regulation (EU) No 2271/96 of the European Parliament and of the Council of 22 November 1996 protecting against the effects of the extraterritorial application of legislation adopted by a third country, and actions based on or resulting therefrom.

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Section 3.20 <u>Center of Main Interests and Establishments</u>(a) . For purposes of the COMI Regulation, the center of main interest (as that term is used in Article 3(1) of the COMI Regulation) of each Note Party whose Original Jurisdiction is a member state of the European Union is situated in its Original Jurisdiction and it has no "establishment" (as that term is used in Article 2(10) of the COMI Regulation) in any other jurisdiction.

Section 3.21 <u>Pensions</u>(a) . Except in relation to any arrangement which provides only benefits on death which are wholly insured, no Parent Company nor any of its subsidiaries is or has at any time been an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004) of a UK registered occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pensions Schemes Act 1993).

Section 3.22 <u>Luxembourg</u> <u>Regulatory Matters</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Solely to the extent any Lux Note Party is a party to this Agreement, the head office (administration centrale) and (for the purposes of the COMI Regulation) the center of main interests (*centre des intérets principaux*) of each Lux Note Party in Luxembourg is located at the place of its registered office (*siège statutaire*) in Luxembourg. No Lux Note Party carries out (a) any activity in the financial sector on a professional basis (as referred to in the Luxembourg law dated 5 April 1993 on the financial sector, as amended from time to time) or (b) any activity requiring the granting of a business license under the Luxembourg law dated 2 September 2011 governing the access to the professions of skilled craftsman, tradesman, manufacturer, as well as to certain liberal professions. Each Lux Note Party complies with all requirements of the Luxembourg law of 31 May 1999 on the domiciliation of companies, as amended, and all related regulations. No Lux Note Party has filed and, to the best of its knowledge, no Person has filed a request with any competent court seeking that a Lux Note Party be declared subject to bankruptcy (*faillite*), general settlement or composition with creditors (*concordat préventif de faillite*) controlled management (gestion controlee), reprieve from payment (*sursis de paiement*), judicial or voluntary liquidation (*liquidation judiciaire ou volontaire*), such other proceedings listed at Article 13, items 2 to 12, and Article 14 of the Luxembourg Act dated December 19, 2002 on the Register of Commerce and Companies, on Accounting and on Annual Accounts of the Companies (as amended from time to time), (and which include foreign court decision as to *faillite, concordat* or analogous procedures according to the COMI Regulation). The Lux Note Parties are not, and will not, as a result of their entry into the Notes Documents or the performance of its obligations thereunder, be in a state of cessation of payments (*cessation des paiements*), or be deemed to be in such state, and have not lost, and will not, as a result of their entry into the Notes Documents or the performance of their obligations thereunder, lose their creditworthiness (*ébranlement de crédit*), or be deemed to have lost such creditworthiness and are not aware, or may be not reasonably be aware, of such circumstances. Each Lux Note Party is in compliance with any reporting requirements applicable to it pursuant to the to the Central Bank of Luxembourg regulation 2011/8 or Regulation (EU) N°648/2012 of the European Parliament and of the Council dated 4 July 2012 on OTC derivatives, central counterparties and trade repositories, except in each case referred to in (i)(b), (ii) and (v) where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

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ARTICLE 4

CONDITIONS

Section 4.01 <u>Closing Date</u>. The obligations of any Holder to make Notes shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with <u>Section</u> <u>9.02</u>):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Note Purchase Agreement and Notes Documents</u>. The Administrative Agent (or its counsel) shall have received from each Note Party party thereto (i) a counterpart signed by each such Note Party (or written evidence satisfactory to the Administrative Agent (which may include a copy transmitted by facsimile or other electronic method) that such Issuer has signed a counterpart) of (A) this Agreement, (B) the Note Guaranty and (C) any Promissory Note requested by a Holder at least three Business Days prior to the Closing Date and (ii) a Borrowing Request as required by <u>Section</u> <u>2.03</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Legal Opinions</u>. The Administrative Agent shall have received a customary written opinion of each of (i) Troutman Pepper Hamilton Sanders LLP, in its capacity as special counsel for Holdings, the Issuer and the Subsidiary Guarantors, (ii) McDermott, Will and Emery UK LLP in its capacity as English counsel for the Administrative Agent and the Holders and (iii) Maples and Calder (Ireland) LLP in its capacity as Irish counsel for the Administrative Agent and the Holders, in each case with respect to the Notes Documents described in clause (a) above, dated the Closing Date and addressed to the Administrative Agent and the Holders and 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;(c) <u>Financial Statements</u>. The Administrative Agent shall have received (i) an audited consolidated balance sheet for each of the three most recent fiscal years and related audited consolidated statements of income, stockholders' equity and cash flows of Indivior PLC and its Subsidiaries, for the three most recently completed fiscal years, in each case ended at least 90 days before the Closing Date; (ii) unaudited consolidated balance sheets and related statements of income, stockholders' equity and cash flows of Indivior PLC and its subsidiaries, for each subsequent fiscal quarter ended at least 45 days before the Closing Date (other than any fiscal fourth quarter) after the most recent fiscal period for which audited financial statements have been provided pursuant to clause (i) hereof, in each case prepared in accordance with GAAP and (iii) detailed projected consolidated financial statements of Indivior PLC and its subsidiaries, prepared after giving effect to the Transactions as if the Transactions had occurred at the beginning of such period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>[</u>Reserved.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Closing Certificates; Certified Charters; Good Standing Certificates</u>. The Administrative Agent shall have received (A) a certificate of Holdings and each Note Party, dated the Closing Date and executed by a secretary, director, assistant secretary or other senior officer (as the case may be) thereof, which shall (1) certify that attached thereto is a true and complete copy of the resolutions or written consents of its shareholders, board of directors (or if applicable, committee of the board of directors), board of managers, members and/or other governing body approving the terms of and authorizing the execution, delivery and performance of the Notes Documents to which it is a party and, in the case of the Issuer, the borrowings and other note issuances hereunder, and that such resolutions or written consents have not been modified, rescinded or amended and are in full force and effect, (2) identify by name and title and bear the signatures of the officers, managers, directors or authorized signatories of Holdings or such Note Party authorized to sign the Notes Documents to which it is a party on the Closing Date and which it is required to execute pursuant to <u>Section</u> <u>5.16</u>, (3) certify (x) that attached thereto is a true and complete copy of the certificate or articles of incorporation or organization (or memorandum of

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association or constitution or other equivalent thereof) of Holdings or such Note Party certified by the relevant authority of the jurisdiction of organization of Holdings or such Note Party and a true and correct copy of its by-laws or operating, management, partnership or similar agreement and (y) that such documents or agreements have not been amended (except as otherwise attached to such certificate and certified therein as being the only amendments thereto as of such date) and (4) in the case of an English Note Party, confirm that the borrowing or guaranteeing or securing the borrowings and other note issuances contemplated by the Notes Documents would not cause any borrowing, guarantee, security or similar limit binding on such English Note Party to be exceeded, (B) a good standing (or equivalent) certificate as of a recent date for Holdings or such Note Party from its jurisdiction of organization (to the extent such concept, or an equivalent concept, exists in such jurisdiction) and (C) in the case of an Irish Note Party (1) a certificate regarding Section 82 and Section 239 of the Irish Companies Act and (2) certifying a copy of its register of members.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Representations and Warranties</u>. The representations and warranties set forth in Article III hereof or in the other Notes Documents shall be true and correct in all material respects on and as of the Closing Date; <u>provided</u> that in the case of any representation and warranty which expressly relates to a given date or period, such representation and warranty shall be true and correct in all material respects as of the respective date or for the respective period, 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;(g) <u>Fees</u>. Prior to or substantially concurrently with the funding of the Initial Term Notes hereunder, the Administrative Agent shall have received (i) all fees required to be paid by the Issuer or any Affiliate thereof on the Closing Date pursuant to the Fee Letters and (ii) all expenses required to be paid by the Issuer for which invoices have been presented at least three Business Days prior to the Closing Date or such later date to which the Issuer may agree (including the reasonable fees and expenses of legal counsel), in each case on or before the Closing Date, which amounts may be offset against the proceeds of the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>No Default</u>. On the Closing Date, no Event of Default is continuing or will result from the making of any Notes on such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Solvency</u>. The Administrative Agent shall have received a certificate dated as of the Closing Date in substantially the form of <u>Exhibit</u> <u>M</u> from the chief financial officer (or other officer with reasonably equivalent responsibilities) of the Issuer certifying as to the matters set forth therein (or, at the Issuer's option, a solvency opinion from an independent investment bank or valuation firm of nationally recognized standing in form and substance 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;(j) <u>Perfection Certificate</u>. The Administrative Agent shall have received a duly completed Perfection Certificate dated the Closing Date and signed by the Issuer, together with all attachments contemplated thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Refinancing</u>. The Administrative Agent shall have received evidence that the Refinancing shall have been consummated, or shall be consummated substantially simultaneously with the initial Borrowing of Initial Term Notes under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>USA PATRIOT Act</u>. No later than three Business Days in advance of the Closing Date, the Administrative Agent shall have received all documentation and other information reasonably requested by any Holder that is party hereto on the Closing Date in writing with respect to any Note Party at least ten days in advance of the Closing Date, which documentation or other information is required by regulatory authorities under applicable "know your customer" and anti-money laundering rules and regulations, including the USA PATRIOT 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;(m) <u>[Reserved]</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>Officer's Certificate</u>. The Administrative Agent shall have received a certificate signed by a Responsible Officer or director of the Issuer certifying as of the Closing Date to the matters set forth in <u>Section</u> <u>4.01(f)</u> and <u>(h)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <u>Absence of Other Indebtedness</u>. On the Closing Date, after giving effect to the initial borrowings under the Term Note Commitments, none of the Issuer or any of its subsidiaries shall have any third party Indebtedness for borrowed money other than (i) the Obligations, (ii) ordinary course capital leases, purchase money indebtedness, equipment financings and surety bonds and (iii) other indebtedness permitted by <u>Section</u> <u>6.01</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <u>Extensions of Credit Lawful</u>. As at the date on which the initial borrowings under the Term Note Commitments are made, it is not unlawful in any applicable jurisdiction for a Holder to perform any of its obligations as contemplated herein or to fund or maintain its participation in any such advance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) <u>Dispositions</u>. No Disposition of all or substantially all of the assets of Indivior PLC and its subsidiaries shall have occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) <u>[Reserved]</u>

For purposes of determining whether the conditions specified in this <u>Section</u> <u>4.01</u> have been satisfied on the Closing Date, by funding the Notes hereunder, the Administrative Agent and each Holder that has executed this Agreement (or an Assignment and Assumption on the Closing Date) shall be deemed to have consented to, approved or accepted, or to be satisfied with, each document or other matter required hereunder to be consented to or approved by or acceptable or satisfactory to the Administrative Agent or such Holder, as the case may be.

Section 4.02 <u>Each</u> <u>Note Issuance</u>. After the Closing Date, the obligation of each Note Holder to make a Note Issuance (which, for the avoidance of doubt, shall not include any Incremental Notes advanced in connection with a Limited Condition Acquisition to the extent not otherwise required by the Holders of such Incremental Notes) is subject to the satisfaction of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Administrative Agent shall have received a Borrowing Request as required by <u>Section</u> <u>2.03</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The representations and warranties of the Note Parties set forth in this Agreement and the other Notes Documents shall be true and correct in all material respects on and as of the date of any such Note Issuance with the same effect as though such representations and warranties had been made on and as of the date of such Note Issuance; <u>provided</u> that to the extent that any representation and warranty specifically refers to a given date or period, it shall be true and correct in all material respects as of such date or for such period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) At the time of and immediately after giving effect to the applicable Note Issuance, no Event of Default or Default exists.

Each Note Issuance after the Closing Date shall be deemed to constitute a representation and warranty by the Issuer on the date thereof as to the matters specified in <u>paragraphs (b)</u> and <u>(c)</u> of this <u>Section</u> <u>4.02</u>.

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ARTICLE 5

AFFIRMATIVE COVENANTS

From the Closing Date until the date that all the Variable Note Commitments and any Additional Note Commitments have expired or terminated and the principal of and interest on each Note and all fees, expenses and other amounts payable under any Notes Document (other than contingent indemnification obligations for which no claim or demand has been made) have been paid in full in Cash (such date, the "**Termination Date**"), each of Holdings and each Issuer hereby covenants and agrees with the Administrative Agent and the Holders that:

Section 5.01 <u>Financial Statements and Other Reports</u>. The Issuer will deliver to the Administrative Agent for delivery to each Holder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Quarterly Financial Statements</u>. Within 45 days (or 60 days in the case of the first Fiscal Quarter ending after the Closing Date) after the end of each of the first three Fiscal Quarters of each Fiscal Year, commencing with the Fiscal Quarter ending September 30, 2024, the consolidated balance sheet of the Applicable Reporting Company as at the end of such Fiscal Quarter and the related consolidated statements of income, stockholders' equity, and cash flows of the Applicable Reporting Company for such Fiscal Quarter and for the period from the beginning of the then current Fiscal Year to the end of such Fiscal Quarter, and setting forth, in reasonable detail, in comparative form the corresponding figures for the corresponding periods of the previous Fiscal Year, all in reasonable detail, together with a Responsible Officer Certification with respect thereto and a Narrative Report with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Annual Financial Statements</u>. Within 90 days after the end of each Fiscal Year ending thereafter, (i) the consolidated balance sheet of the Applicable Reporting Company as at the end of such Fiscal Year and the related consolidated statements of income, stockholders' equity and cash flows of the Applicable Reporting Company for such Fiscal Year and setting forth, in reasonable detail, in comparative form the corresponding figures for the previous Fiscal Year and (ii) with respect to such consolidated financial statements, (A) a report thereon of an independent certified public accountant of recognized national standing (which report shall be unqualified as to "going concern" and scope of audit (except for any such qualification pertaining to the (x) maturity of any Notes occurring within 12 months of the relevant audit or any (y) anticipated or prospective breach of the financial covenants under this Agreement), and shall state that such consolidated financial statements fairly present, in all material respects, the consolidated financial position of the Applicable Reporting Company as at the dates indicated and its income and cash flows for the periods indicated in conformity with GAAP and (B) a Narrative Report with respect to such Fiscal Year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Compliance Certificate</u>. Together with each delivery of financial statements of the Applicable Reporting Company pursuant to <u>Sections</u> <u>5.01(a)</u> and <u>5.01(b)</u>, (i) a duly executed and completed Compliance Certificate (A) certifying that no Default or Event of Default exists (or if a Default or Event of Default exists, describing in reasonable detail such Default or Event of Default and the steps being taken to cure, remedy or waive the same), (B) in the case of financial statements delivered pursuant to <u>Section</u> <u>5.01(b)</u>, setting forth reasonably detailed calculations of (x) Excess Cash Flow of Holdings and its Restricted Subsidiaries for each Fiscal Year beginning with the financial statements for the Fiscal Year ending December 31, 2025, (y) Net Proceeds in respect of any Prepayment Asset Sale or Net Insurance/Condemnation Proceeds received during the applicable period by or on behalf of the Issuer or any of the Restricted Subsidiaries subject to prepayment pursuant to <u>Section</u> <u>2.11(b)</u>, and the portion of such Net Proceeds that have been invested or are intended to be reinvested in accordance with <u>Section</u> <u>2.11(b)(ii)</u> and (z) in the case of financial statements delivered pursuant to <u>Sections 5.01(a)</u> and <u>5.01(b)</u>, setting forth reasonably detailed calculations of Consolidated Total Assets, the Available Amount and the

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Available Excluded Contribution Amount as of the last day of the Fiscal Quarter or Fiscal Year, as the case may be, covered by such financial statements or stating that there has been no change to such amounts since the date of delivery of the last Compliance Certificate and (C) setting forth in reasonable detail calculations necessary for determining compliance with <u>Section</u> <u>6.14</u> and (ii) (A) a summary of the pro forma adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) from such financial statements and (B) a list identifying each subsidiary of the Issuer as a Restricted Subsidiary or an Unrestricted Subsidiary as of the date of delivery of such Compliance Certificate or confirming that there is no change in such information since the later of the Closing Date and the date of the last such list;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Notice of Change in Beneficial Ownership Information</u>. Promptly upon any Responsible Officer of the Issuer obtaining knowledge of any change in the information provided in any Beneficial Ownership Certification (if applicable) 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;(e) <u>Notice of Default</u>. Promptly upon any Responsible Officer of the Issuer obtaining knowledge of (i) any Default or Event of Default or (ii) the occurrence of any event or change that has caused or evidences or would reasonably be expected to cause or evidence, either individually or in the aggregate, a Material Adverse Effect, a reasonably-detailed notice specifying the nature and period of existence of such condition, event or change and what action the Issuer have taken, are taking and propose to take with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Notice of Litigation</u>. Promptly upon any Responsible Officer of the Issuer obtaining knowledge of (i) the institution of, or threat (in writing) of, any Adverse Proceeding not previously disclosed in writing by the Issuer to the Administrative Agent, or (ii) any material development in any Adverse Proceeding that, in the case of either of <u>clause</u> <u>(i)</u> or <u>(ii)</u>, could reasonably be expected to have a Material Adverse Effect, written notice thereof from such Issuer (which shall be deemed to have been delivered to the extent such matters are described in the Disclosure Documents);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>ERISA</u>. Promptly upon any Responsible Officer of the Issuer becoming aware of the occurrence of any ERISA Event that could reasonably be expected to have a Material Adverse Effect, a written notice specifying the nature thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Financial Plan</u>. As soon as available and in any event no later than 90 days after the beginning of each Fiscal Year, commencing in respect of the Fiscal Year ending December 31, 2025, a consolidated plan and financial forecast for each Fiscal Quarter of such Fiscal Year, including a forecasted consolidated statement of the Applicable Reporting Company's financial position and forecasted consolidated statements of income and cash flows of the Applicable Reporting Company for such Fiscal Year, prepared in reasonable detail setting forth, with appropriate discussion, the principal assumptions on which such financial plan is based in a manner consistent with the level of detail provided in the Projections;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Information Regarding Collateral</u>. Prompt (and in any event, within 30 days of the relevant change) written notice of any change (i) in any Note Party's legal name, (ii) in any Note Party's type of organization, (iii) in any Note Party's jurisdiction of organization or (iv) in any Note Party's organizational identification number, in each case to the extent such information is necessary to enable the Administrative Agent to perfect or maintain the perfection and priority of its security interest in the Collateral of the relevant Note Party, together with a certified copy of the applicable Organizational Document reflecting the relevant change;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Annual Collateral Verification</u>. Together with the delivery of each Compliance Certificate provided with the financial statements required to be delivered pursuant to <u>Section</u> <u>5.01(b)</u>, a Perfection Certificate Supplement;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Certain Reports</u>. Promptly upon their becoming available and without duplication of any obligations with respect to any such information that is otherwise required to be delivered under the provisions of any Notes Document, copies of (i) all financial statements, reports, notices and proxy statements sent or made available generally by the Applicable Reporting Company or the applicable Parent Company to its security holders acting in such capacity and (ii) all regular and periodic reports and all registration statements (other than on Form S-8 or a similar form) and prospectuses, if any, filed by the Applicable Reporting Company or the applicable Parent Company with any securities exchange or with the SEC or any analogous governmental or private regulatory authority with jurisdiction over matters relating to securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Other Information</u>. Such other certificates, reports and information (financial or otherwise) as the Administrative Agent may reasonably request from time to time in connection with the financial condition or business of Holdings, the Issuer and their Restricted Subsidiaries or that for purposes of compliance with applicable "know your customer" requirements under the USA PATRIOT Act, the Beneficial Ownership Regulation (if applicable) or other applicable anti-money laundering laws.

Documents required to be delivered pursuant to this <u>Section</u> <u>5.01</u> may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Applicable Reporting Company or the Issuer (or a representative thereof) (x) posts such documents or (y) provides a link thereto on the website of the Applicable Reporting Company on the Internet at the website address listed on <u>Schedule</u> <u>9.01</u>; <u>provided</u> that, other than with respect to items required to be delivered pursuant to <u>Section</u> <u>5.01(k)</u>, the Issuer shall promptly notify (which may be by facsimile or electronic mail) the Administrative Agent of the posting of any such documents on the website of the Applicable Reporting Company (or its applicable subsidiary or any applicable Parent Company) and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents; (ii) on which such documents are delivered by the Issuer to the Administrative Agent for posting on behalf of the Issuer on Intralinks, SyndTrak or another relevant website, if any, to which each Holder and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); (iii) on which executed certificates or other documents are faxed to the Administrative Agent (or electronically mailed to an address provided by the Administrative Agent); or (iv) in respect of the items required to be delivered pursuant to <u>Section</u> <u>5.01(k)</u> in respect of information filed by the Applicable Reporting Company or any applicable Parent Company with any securities exchange or with the SEC or any analogous governmental or private regulatory authority with jurisdiction over matters relating to securities (including, without limitation, the Financial Conduct Authority), on which such items have been made available on the SEC website or the website of the relevant analogous governmental or private regulatory authority or securities exchange.

Notwithstanding the foregoing, the obligations in <u>paragraphs (a)</u>, <u>(b)</u> and <u>(h)</u> of this <u>Section</u> <u>5.01</u> may be satisfied with respect to any financial statements of any Applicable Reporting Company by furnishing (A) the applicable financial statements of the Applicable Reporting Company or (B) the Applicable Reporting Company's (or any other Parent Company's), as applicable, Form 20-F, 10-K or 10-Q, as applicable, filed with the SEC or any securities exchange, in each case, within the time periods specified in such paragraphs; <u>provided</u> that, with respect to each of <u>clauses (A)</u> and <u>(B)</u>, (i) to the extent such financial statements relate to any Parent Company, such financial statements shall be accompanied by consolidating information that summarizes in reasonable detail the differences between the information relating to such Parent Company, on the one hand, and the information relating to the Issuer and their subsidiaries on a standalone basis, on the other hand, which consolidating information shall be certified by a Responsible Officer of the Issuer as having been fairly presented in all material respects and (ii) to the extent such statements are in lieu of statements required to be provided under <u>Section</u> <u>5.01(b)</u>, such statements shall be accompanied by a report and opinion of an independent registered public accounting firm of nationally recognized standing, which report and opinion shall satisfy the applicable requirements set forth in <u>Section</u> <u>5.01(b)</u>.

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Each Issuer hereby acknowledges that (a) the Administrative Agent and/or the Administrative Agent will make available to the Holders materials and/or information provided by or on behalf of any Applicable Reporting Company and/or the Issuer hereunder (collectively, "**Issuer Materials**") by posting Issuer Materials on IntraLinks or another similar electronic system (the "**Platform**") and (b) certain of the Holders (each, a "**Public Holder**") may have personnel who do not wish to receive material non-public information with respect to any Applicable Reporting Company, the Issuer or their respective subsidiaries, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such Persons' securities. Each Issuer hereby agrees that (w) all Issuer Materials that are to be made available to Public Holders shall be clearly and conspicuously marked "PUBLIC" which, at a minimum, shall mean that the word "PUBLIC" shall appear prominently on the first page thereof; (x) by marking Issuer Materials "PUBLIC," each Issuer shall be deemed to have authorized the Administrative Agent, the Administrative Agent and the Holders to treat such Issuer Materials as not containing any material non-public information with respect to any Applicable Reporting Company, each Issuer or their respective securities for purposes of U.S. Federal, state and foreign securities laws (<u>provided</u>, <u>however</u>, that to the extent such Issuer Materials constitute Information, they shall be treated as set forth in <u>Section</u> <u>9.13</u>); (y) all Issuer Materials marked "PUBLIC" are permitted to be made available through a portion of the Platform designated "Public Side Information"; and (z) the Administrative Agent and the Administrative Agent shall be entitled to treat the Issuer Materials that are not marked "PUBLIC" as being suitable only for posting on a portion of the Platform not designated "Public Side Information".

Section 5.02 <u>Existence</u>. Except as otherwise permitted under <u>Section</u> <u>6.07</u>, each Issuer will, and each Issuer will cause each of Holdings and their Restricted Subsidiaries to, at all times preserve and keep in full force and effect its existence and all rights, franchises, licenses and permits material to its business except, other than with respect to the preservation of the existence of Holdings and the Issuer, to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect; <u>provided</u> that neither Holdings, nor the Issuer nor any of the Issuer' Restricted Subsidiaries shall be required to preserve any such existence (other than with respect to the preservation of existence of Holdings and the Issuer), right, franchise, license or permit if a Responsible Officer of such Person or such Person's board of directors (or similar governing body) determines that the preservation thereof is no longer desirable in the conduct of the business of such Person, and that the loss thereof is not disadvantageous in any material respect to such Person or to the Holders.

Section 5.03 <u>Payment of Taxes</u>. Each Issuer will, and each Issuer will cause each of their Restricted Subsidiaries to, pay all of its Tax liabilities; <u>provided</u> that no such Tax liability need be paid if (a) it is being contested in good faith by appropriate proceedings promptly instituted and diligently conducted, so long as adequate reserves or other appropriate provisions, as are required in conformity with GAAP, have been made therefor, or (b) failure to pay or discharge the same could not reasonably be expected to result in a Material Adverse Effect.

Section 5.04 <u>Maintenance of Properties</u>. Each Issuer will, and will cause each of its Restricted Subsidiaries to, maintain or cause to be maintained in good repair, working order and condition, ordinary wear and tear and casualty and condemnation excepted, all property reasonably necessary to the normal conduct of business of the Issuer and their Restricted Subsidiaries and from time to time will make or cause to be made all needed and appropriate repairs, renewals and replacements thereof except as expressly permitted by this Agreement or where the failure to maintain such properties or make such repairs, renewals or replacements could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

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Section 5.05 <u>Insurance</u>. Except where the failure to do so would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, each Issuer will maintain or cause to be maintained, with financially sound and reputable insurers, such insurance coverage with respect to liabilities, losses or damage in respect of the assets, properties and businesses of the Issuer and their Restricted Subsidiaries as may customarily be carried or maintained under similar circumstances by Persons of established reputation engaged in similar businesses, in each case in such amounts (giving effect to self-insurance), with such deductibles, covering such risks and otherwise on such terms and conditions as shall be customary for such Persons. Each Issuer will also maintain, or cause to be maintained, flood insurance coverage with respect to each Flood Hazard Property, in each case in compliance with the Flood Insurance Laws (where applicable). Each of the foregoing policies of insurance shall (i) name the Administrative Agent on behalf of the Secured Parties as an additional insured thereunder as its interests may appear and (ii) to the extent available from the relevant insurance carrier, in the case of each casualty insurance policy (excluding any business interruption insurance policy), contain a loss payable clause or endorsement that names the Administrative Agent, on behalf of the Secured Parties as the loss payee thereunder and, to the extent available, provide for at least 30 days' prior written notice to the Administrative Agent of any modification or cancellation of such policy (or 10 days' prior written notice in the case of the failure to pay any premiums thereunder).

Section 5.06 <u>Inspections</u>. Each Issuer will, and will cause each of its Restricted Subsidiaries to, permit any authorized representative designated by the Administrative Agent to visit and inspect any of the properties of such Issuer and any of its Restricted Subsidiaries at which the principal financial records and executive officers of the applicable Person are located, to inspect, copy and take extracts from its and their respective financial and accounting records, and to discuss its and their respective affairs, finances and accounts with its and their Responsible Officers and independent public accountants (<u>provided</u> that such Issuer (or any of its subsidiaries) may, if it so chooses, be present at or participate in any such discussion), all upon reasonable notice and at reasonable times during normal business hours; <u>provided</u> that, excluding such visits and inspections during the continuation of an Event of Default, (x) only the Administrative Agent on behalf of the Holders may exercise the rights of the Administrative Agent and the Holders under this <u>Section</u> <u>5.06</u>, (y) the Administrative Agent shall not exercise such rights more often than one time during any calendar year and (z) only one such time per calendar year shall be at the expense of the Issuer; <u>provided</u> <u>further</u> that when an Event of Default exists, the Administrative Agent (or any of its representatives or independent contractors) may do any of the foregoing at the expense of Issuer at any time during normal business hours and upon reasonable advance notice; <u>provided</u> <u>further</u> that, notwithstanding anything to the contrary herein, neither the Issuer nor any Restricted Subsidiary shall be required to disclose, permit the inspection, examination or making of copies of or taking abstracts from, or discuss any document, information, or other matter (i) that constitutes non-financial trade secrets or non-financial proprietary information of the Issuer or its subsidiaries and/or any of its customers and/or suppliers, (ii) in respect of which disclosure to the Administrative Agent or any Holder (or any of their respective representatives or contractors) is prohibited by applicable law or (iii) that is subject to attorney-client or similar privilege or constitutes attorney work product.

Section 5.07 <u>Maintenance of Book and Records</u>. Each Issuer will, and will cause each of its Restricted Subsidiaries to, maintain proper books of record and account containing entries of all material financial transactions and matters involving the assets and business of the Issuer and their Restricted Subsidiaries that are full, true and correct in all material respects and permit the preparation of consolidated financial statements in accordance with GAAP.

Section 5.08 <u>Compliance with Laws</u>. Each Issuer will, and will cause Holdings and each of their Restricted Subsidiaries to, comply with the requirements of (i) OFAC and the FCPA and (ii) all applicable laws, rules, regulations and orders of any Governmental Authority (including ERISA, all Environmental Laws and the USA PATRIOT Act), except, in the case of <u>clause (ii)</u>, to the extent the failure to so comply could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

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Section 5.09 <u>Environmental</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Environmental Disclosure</u>. Each Issuer will deliver 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;(i) as soon as practicable following receipt thereof, copies of all non-privileged environmental audits, investigations, analyses and reports of any kind or character, whether prepared by personnel of such Issuer or any of its Restricted Subsidiaries or by independent consultants, governmental authorities or any other Persons, with respect to significant environmental matters at the applicable Issuer's real property or with respect to any Environmental Claims that, in each case might 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;(ii) promptly upon the occurrence thereof, written notice describing in reasonable detail (A) any Release required to be reported by such Issuer or any of its Restricted Subsidiaries to any federal, state or local governmental or regulatory agency under any applicable Environmental Laws that could reasonably be expected to have a Material Adverse Effect, (B) any remedial action taken by such Issuer or any of its Restricted Subsidiaries or any other Person of which such Issuer or any of its Restricted Subsidiaries has knowledge in response to (1) any Hazardous Materials Activity the existence of which has a reasonable possibility of resulting in one or more Environmental Claims having, individually or in the aggregate, a Material Adverse Effect or (2) any Environmental Claim that, individually or in the aggregate, has a reasonable possibility of resulting in a Material Adverse Effect and (C) discovery by such Issuer of any occurrence or condition on any real property adjoining or in the vicinity of any Real Estate Facility that reasonably could 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;(iii) as soon as practicable following the sending or receipt thereof by such Issuer or any of its Restricted Subsidiaries, a copy of any and all written communications with respect to (A) any Environmental Claim that, individually or in the aggregate, has a reasonable possibility of giving rise to a Material Adverse Effect, (B) any Release required to be reported by such Issuer or any of its Restricted Subsidiaries to any federal, state or local governmental or regulatory agency that reasonably could be expected to have a Material Adverse Effect, and (C) any request made to such Issuer or any of its Restricted Subsidiaries for information from any governmental agency that suggests such agency is investigating whether such Issuer or any of its Restricted Subsidiaries may be potentially responsible for any Hazardous Materials Activity which is reasonably 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;(iv) prompt written notice describing in reasonable detail (A) any proposed acquisition of stock, assets, or property by such Issuer or any of its Restricted Subsidiaries that could reasonably be expected to expose such Issuer or any of its Restricted Subsidiaries to, or result in, Environmental Claims that could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and (B) any proposed action to be taken by such Issuer or any of its Restricted Subsidiaries to modify current operations in a manner that could subject such Issuer or any of its Restricted Subsidiaries to any additional obligations or requirements under any Environmental Law that are reasonably likely 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;(v) with reasonable promptness, such other documents and information as from time to time may be reasonably requested by the Administrative Agent in relation to any matters disclosed pursuant to this <u>Section</u> <u>5.09(a)</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;(b) <u>Hazardous Materials Activities, Etc</u>. Each Issuer will, and will cause each of its Restricted Subsidiaries to promptly take, any and all actions necessary to (i) cure any violation of applicable Environmental Laws by such Issuer or its Restricted Subsidiaries, and address with appropriate corrective or remedial action any Release or threatened Release of Hazardous Materials at or from any Real Estate Facility, in each case, that could reasonably be expected to have a Material Adverse Effect and (ii) make an appropriate response to any Environmental Claim against such Issuer or any of its Restricted Subsidiaries and discharge any obligations it may have to any Person thereunder, in each case, where failure to do so could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

Section 5.10 <u>Designation of Subsidiaries</u>. The Issuer may at any time after the Closing Date designate any subsidiary as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary; <u>provided</u> that (i) immediately before and after such designation, no Default or Event of Default exists (including after giving effect to the reclassification of Investments in, Indebtedness of and Liens on the assets of, the applicable Restricted Subsidiary or Unrestricted Subsidiary), (ii) the Issuer shall be in compliance with <u>Section</u> <u>6.14</u> calculated on a Pro Forma Basis after giving effect to such designation (and determined as of the most recently ended Test Period at or prior to such time), (iii) no Subsidiary previously designated as an Unrestricted Subsidiary may be re-designated as an Unrestricted Subsidiary, (iv) as of the date of the designation thereof, no Unrestricted Subsidiary shall own any Capital Stock in any Restricted Subsidiary of the Issuer or hold any Indebtedness of or any Lien on any property of the Issuer or its Restricted Subsidiaries, (v) no subsidiary may be designated as an Unrestricted Subsidiary hereunder if it is a Restricted Subsidiary that Guarantees (or is otherwise treated as a "restricted subsidiary" with respect to) any Incremental Facilities, Incremental Equivalent Debt or Indebtedness permitted under <u>Section</u> <u>6.01(q)</u>, <u>6.01(w)</u> or <u>6.01(p)</u> (to the extent relating to Indebtedness initially incurred or pursuant to any of the foregoing, and any subsequent permitted refinancing (or successive permitted refinancing) thereof), in each case above the Threshold Amount and (vi) no Note Party nor any of their Restricted Subsidiaries shall transfer, or grant any exclusive license in respect of, any Material Assets to any Unrestricted Subsidiary (with any such attempted transfer void *ab initio*). The designation of any subsidiary as an Unrestricted Subsidiary shall constitute an Investment by the Issuer therein at the date of designation in an amount equal to the portion of the fair market value of the net assets of such Restricted Subsidiary attributable to the Issuer's equity interest therein as reasonably estimated by the Issuer (and such designation shall only be permitted to the extent such Investment is permitted under <u>Section</u> <u>6.06(x)</u>) and the incurrence at the time of designation of any Investment, Indebtedness or Liens of such Subsidiary existing at such time. The designation of any Unrestricted Subsidiary as a Restricted Subsidiary shall constitute the incurrence or making, as applicable, at the time of designation of any then-existing Investment, Indebtedness or Lien of such Restricted Subsidiary, as applicable; <u>provided</u> that upon a designation of any Unrestricted Subsidiary as a Restricted Subsidiary, the Issuer shall be deemed to continue to have an Investment in the resulting Restricted Subsidiary in an amount (if positive) equal to (a) the applicable Issuer's "Investment" in such Restricted Subsidiary at the time of such re-designation, *less* (b) the portion of the fair market value of the net assets of such Restricted Subsidiary (or, if lower, the actual purchase price or consideration paid for such net assets) directly attributable to such Issuer's equity therein at the time of such re-designation.

Section 5.11 <u>Use of Proceeds</u>. The Issuer shall use the proceeds of the initial Borrowing on the Closing Date to fund the Refinancing and the Transaction Costs, and use the proceeds of any Borrowing on or after the Closing Date, for any purpose not otherwise prohibited under this Agreement, including for general corporate purposes, working capital needs, the repayment of Indebtedness, the making of Restricted Payments and the making of Investments. No part of the proceeds of any Note will be used, whether directly or indirectly, for any purpose that would entail a violation of Regulation T, U or X.

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Section 5.12 <u>Covenant to Guarantee Obligations and Give Security</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Upon (i) the formation or acquisition after the Closing Date of any Restricted Subsidiary, (ii) the designation of any Unrestricted Subsidiary as a Restricted Subsidiary, (iii) any Restricted Subsidiary ceasing to be an Immaterial Subsidiary or (iv) any Restricted Subsidiary that is an Immaterial Subsidiary ceasing to be an Excluded Subsidiary, (x) if the event giving rise to the obligation under this <u>Section</u> <u>5.12(a)</u> occurs during the first three Fiscal Quarters of any Fiscal Year, on or before the date on which financial statements are required to be delivered pursuant to <u>Section</u> <u>5.01(a)</u> for the Fiscal Quarter in which the relevant formation, acquisition, designation or cessation occurred or (y) if the event giving rise to the obligation under this <u>Section</u> <u>5.12(a)</u> occurs during the fourth Fiscal Quarter of any Fiscal Year, on or before the date that is 60 days after the end of such Fiscal Quarter (or, in the cases of <u>clauses (x)</u> and <u>(y)</u>, such longer period as the Administrative Agent may reasonably agree); the Issuer shall (A) cause such Restricted Subsidiary (other than any Excluded Subsidiary), and each Note Party that is a holder of Capital Stock and/or Material Debt Instruments issued by such Restricted Subsidiary, in each case to comply with the requirements set forth in <u>clause (a)</u> of the definition of "Collateral and Guarantee Requirement" and (B) upon the reasonable request of the Administrative Agent, cause the relevant Restricted Subsidiary to deliver to the Administrative Agent a signed copy of a customary opinion of counsel for such Restricted Subsidiary, addressed to the Administrative Agent and the other relevant Secured Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Within 90 days after (i) the Closing Date, with respect to the real property located at 8900 Capital Boulevard, Raleigh NC 27616, and (ii) the acquisition by any Note Party of any Material Real Estate Asset other than any Excluded Asset (or such longer period as the Administrative Agent may reasonably agree), the Issuer shall cause such Note Party to comply with the requirements set forth in <u>clause (b)</u> of the definition of "Collateral and Guarantee Requirement", it being understood and agreed that, with respect to any Material Real Estate Asset owned by any Restricted Subsidiary at the time such Restricted Subsidiary is required to become a Note Party under <u>Section</u> <u>5.12(a)</u>, such Material Real Estate Asset shall be deemed to have been acquired by such Restricted Subsidiary on the first day of the time period within which such Restricted Subsidiary is required to become a Note Party under <u>Section</u> <u>5.12(a)</u>.

Notwithstanding anything to the contrary herein or in any other Notes Document, (i) the Administrative Agent may grant extensions of time for the creation and perfection of security interests in, or obtaining of title insurance, legal opinions, surveys or other deliverables with respect to, particular assets or the provision of any Note Guaranty by any Restricted Subsidiary (in connection with assets acquired, or Restricted Subsidiaries formed or acquired, after the Closing Date) where it reasonably determines, in consultation with the Issuer, that such action cannot be accomplished without undue effort or expense by the time or times at which it would otherwise be required to be accomplished by this Agreement or the Collateral Documents, and each Holder hereby consents to any such extension of time, (ii) any Lien required to be granted from time to time pursuant to the definition of "Collateral and Guarantee Requirement" shall be subject to the exceptions and limitations set forth in the Collateral Documents, (iii) perfection by control shall not be required with respect to assets requiring perfection through control agreements or other control arrangements, including deposit accounts, securities accounts and commodities accounts (other than control of pledged Capital Stock and/or Material Debt Instruments), (iv) no Note Party shall be required to seek any landlord lien waiver, bailee letter, estoppel, warehouseman waiver or other collateral access or similar letter or agreement, and notices shall not be required to be sent to account debtors or other contractual third parties, except (x) in the case of any Note Party not incorporated or organized in the U.S. or the U.K., in accordance with the Agreed Guarantee and Security Principles and (y) in all other cases, after the occurrence and continuation of an Event of Default; (v) in no event will the Collateral include any Excluded Assets, (vi) no action shall be required to perfect any Lien with respect to Letter-of-Credit Rights to the extent that a security interest therein cannot be perfected by filing a Form UCC-1 (or similar) financing statement or by execution and delivery by any Note Party of a fixed and floating charge or similar

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instrument providing for the creation of a security interest in all or substantially all of the assets of such Note Party under the laws of any applicable jurisdiction and (vii) the Administrative Agent shall not require the taking of a Lien on, or require the perfection of any Lien granted in, those assets as to which the cost of obtaining or perfecting such Lien (including any mortgage, stamp, intangibles or other Tax or expenses relating to such Lien) is excessive in relation to the benefit to the Holders of the security afforded thereby as reasonably determined by the Issuer and the Administrative Agent.

Notwithstanding anything to the contrary herein or in any other Notes Document, with respect to any Person not incorporated or organized in the U.S. or the United Kingdom, the requirements of this <u>Section</u> <u>5.12</u> shall be subject to the Agreed Guarantee and Security Principles.

Section 5.13 <u>Holders</u><u> </u><u>Calls</u>.

At the reasonable request of the Required Holders, within fifteen (15) Business Days following such request, the Issuer shall hold a conference call each Fiscal Year with all Holders (except Affiliated Holders) who choose to attend such call during which the Issuer shall review the financial results of such Fiscal Year and such other financial or operational matters as the Required Holders may reasonably request in advance of such call; provided, that it is understood and agreed that such calls may include material non-public information with respect to any Applicable Reporting Company, the Issuer or their respective subsidiaries and any Public Holder shall cease to be a Public Holder to the extent it attends any such conference call.

Section 5.14 <u>Center of Main Interests</u>. Each Note Party whose Original Jurisdiction is a member state of the European Union as at the date it executes this Agreement or becomes a Note Party pursuant to Section 5.12 or Section 5.16, shall (a) take no action which would result in it changing its center of main interest (as that term is used in Article 3(1) of the COMI Regulation) from that of its Original Jurisdiction and (b) create no "establishment" (as that term is defined in Article 2(10) of the COMI Regulation in any other jurisdiction.

Section 5.15 <u>Further Assurances</u>. Promptly upon request of the Administrative Agent and subject to the limitations described in <u>Section</u> <u>5.12</u> (and in the case of any Note Party not incorporated or organized in the U.S. or the United Kingdom, subject to the Agreed Guarantee and Security Principles):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Issuer will, and will cause each other Note Party to, execute any and all further documents, financing statements, agreements, instruments, certificates, notices and acknowledgments and take all such further actions (including the filing and recordation of financing statements, fixture filings, Mortgages and/or amendments thereto and other documents), that may be required under any applicable law or which the Administrative Agent may request to ensure the creation, perfection and priority of the Liens created or intended to be created under the Collateral Documents, all at the expense of the relevant Note Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Issuer will, and will cause each other Note Party to, (i) correct any material defect or error that may be discovered in the execution, acknowledgment, filing or recordation of any Collateral Document or other document or instrument relating to any Collateral and (ii) do, execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such further acts (including notices to third parties), deeds, certificates, assurances and other instruments as the Administrative Agent may reasonably request from time to time in order to carry out more effectively the purposes of the Collateral Documents.

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Section 5.16 <u>Certain Post-Closing Events</u>. The Issuer will, and will cause each other Note Party to complete each of the actions described on <u>Schedule 5.16</u> by no later than the date set forth in <u>Schedule 5.16</u> with respect to such action or such later date as the Administrative Agent may reasonably agree. All conditions precedent, covenants and representations and warranties contained in this Agreement and the other Notes Documents shall be deemed modified to the extent necessary to effect the foregoing (and to permit the taking of the actions described on Schedule 5.16 within the time periods required by this Section 5.16, rather than as elsewhere provided in the Notes Documents).

Section 5.17 <u>Pensions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except in relation to any arrangement which provides benefits on death which are wholly insured, the Reckitt Benckiser Pension Fund, the London International Group UK Pension Scheme, the Scholl Pension Plan, and the Seton Healthcare Group plc Pension and Life Assurance Scheme*,* the Issuer shall ensure that no Parent Company or subsidiary thereof is an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004) of any UK registered occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pension Schemes Act 1993) or, to the extent such connection or association has or may be likely to have a Material Adverse Effect, "connected" with or an "associate" of (as those terms are used in sections 38 or 43 of the Pensions Act 2004) such an employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Issuer shall immediately notify the Administrative Agent of (i) any investigation by the Pensions Regulator which may lead to the issue of a Financial Support Direction or a Contribution Notice and (ii) the issue of a Financial Support Direction or a Contribution Notice to it, to any Parent Company or any subsidiary thereof.

Section 5.18 <u>Financial Assistance</u>. Each Note Party will comply (and will ensure that each Parent Company and each subsidiary thereof complies) in all respects with sections 678 and 679 of the Companies Act 2006 and any equivalent legislation in other jurisdictions (including, in respect of any Note Party which is registered in Ireland, section 82 of the Companies Act 2014 of Ireland) including in relation to the execution of the Collateral Documents and payment of amounts due under this Agreement.

Section 5.19 <u>Quoted</u> <u>Eurobond Listing</u>.

From and after the earlier of (i) the Quoted Eurobond Listing Date and (ii) December 31, 2024, the Note Parties shall maintain the Quoted Eurobond Listing at all times during the term of this Agreement.

ARTICLE 6

NEGATIVE COVENANTS

From the Closing Date and until the Termination Date has occurred, each of Holdings and each Issuer (and, with respect to <u>Section</u> <u>6.15</u> only, Holdings only) covenants and agrees with the Holders that:

Section 6.01<u> </u><u>Indebtedness</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, assume or otherwise become or remain liable with respect to any Indebtedness, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Secured Obligations (including any Additional Term Notes and any Additional Variable Notes);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Indebtedness of the Issuer to any Restricted Subsidiary and/or of any Restricted Subsidiary to the Issuer or any other Restricted Subsidiary; <u>provided</u> that in the case of any Indebtedness of any Restricted Subsidiary that is not a Note Party owing to a Note Party, such Indebtedness shall be permitted as an Investment by <u>Section</u> <u>6.06</u>; <u>provided</u> <u>further</u> that any Indebtedness of any Note Party to any Restricted Subsidiary that is not a Note Party must be expressly subordinated to the Obligations of such Note Party on terms that are reasonably acceptable to the Administrative Agent (it being understood that the subordination provisions in the Global Intercompany Note are acceptable to the Administrative Agent);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Indebtedness of the Issuer and/or any other Restricted Subsidiary in respect of letter of credit facilities and reimbursement obligations in respect thereof in an aggregate amount not to exceed $25,000,000 at any time outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Indebtedness arising from any agreement providing for indemnification, adjustment of purchase price or similar obligations (including contingent earn-out obligations) incurred in connection with any Disposition permitted hereunder, any acquisition permitted hereunder or consummated prior to the Closing Date or any other purchase of assets or Capital Stock, and Indebtedness arising from guaranties, letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments securing the performance of the Issuer or any such Restricted Subsidiary pursuant to any such agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Indebtedness of the Issuer and/or any Restricted Subsidiary (i) pursuant to tenders, statutory obligations, bids, leases, governmental contracts, trade contracts, surety, stay, customs, appeal, performance and/or return of money bonds or other similar obligations incurred in the ordinary course of business and (ii) in respect of letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments to support any of the foregoing items;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Indebtedness of the Issuer and/or any Restricted Subsidiary in respect of commercial credit cards, stored value cards, purchasing cards, treasury management services, netting services, overdraft protections, check drawing services, automated payment services (including depository, overdraft, controlled disbursement, ACH transactions, return items and interstate depository network services), employee credit card programs, cash pooling services and any arrangements or services similar to any of the foregoing and/or otherwise in connection with Cash management and Deposit Accounts, including Banking Services Obligations and dealer incentive, supplier finance or similar programs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) (i) guaranties by the Issuer and/or any Restricted Subsidiary of the obligations of suppliers, customers and licensees in the ordinary course of business, (ii) Indebtedness incurred in the ordinary course of business in respect of obligations of the Issuer and/or any Restricted Subsidiary to pay the deferred purchase price of goods or services or progress payments in connection with such goods and services and (iii) Indebtedness in respect of letters of credit, bankers' acceptances, bank guaranties or similar instruments supporting trade payables, warehouse receipts or similar facilities entered into 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;(h) Guarantees by the Issuer and/or any Restricted Subsidiary of Indebtedness or other obligations of the Issuer, any Restricted Subsidiary and/or any joint venture with respect to Indebtedness otherwise permitted to be incurred pursuant to this <u>Section</u> <u>6.01</u> or other obligations not prohibited by this Agreement; <u>provided</u> that in the case of any Guarantee by any Note Party of the obligations of any non-Note Party, the related Investment is permitted under <u>Section</u> <u>6.06</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Indebtedness of the Issuer and/or any Restricted Subsidiary existing, or pursuant to commitments existing, on the Closing Date and described on <u>Schedule 6.01</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Indebtedness of Restricted Subsidiaries that are not Note Parties; <u>provided</u> that the aggregate outstanding principal amount of such Indebtedness, taken together with all Investments made under <u>clause (b)(ii)(A)</u> of the definition of Permitted Acquisitions shall not exceed the greater of (i) $145,000,000 and (ii) 40.0% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Indebtedness of the Issuer and/or any Restricted Subsidiary consisting of obligations owing under incentive, supply, license or similar agreements entered into 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;(l) Indebtedness of the Issuer and/or any Restricted Subsidiary consisting of (i) the financing of insurance premiums in the ordinary course of business, (ii) take-or-pay obligations contained in supply arrangements in the ordinary course of business and/or (iii) obligations to reacquire assets or inventory in connection with customer financing arrangements 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;(m) Indebtedness of the Issuer and/or any Restricted Subsidiary with respect to Capital Leases and purchase money Indebtedness incurred prior to or within 270 days of the acquisition, lease, completion of construction, repair of, replacement, improvement to or installation of assets acquired in connection with the incurrence of such Indebtedness in an aggregate outstanding principal amount not to exceed the greater of (i) $100,000,000 and (ii) 30.0% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) [Reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Indebtedness consisting of unsecured subordinated promissory notes in form and substance reasonably satisfactory to the Administrative Agent issued by the Issuer or any Restricted Subsidiary to any stockholder of any Parent Company or any current or former director, officer, employee, member of management, manager or consultant of any Parent Company, Issuer or any subsidiary (or their respective Immediate Family Members) and not guaranteed by any Subsidiary of Holdings to finance the purchase or redemption of Capital Stock of any Parent Company permitted by <u>Section</u> <u>6.04(a)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) each Issuer and its Restricted Subsidiaries may become and remain liable for any Indebtedness refinancing, refunding or replacing any Indebtedness permitted under <u>clauses</u> <u>(a)</u>, <u>(i)</u>, <u>(j)</u>, <u>(m)</u>, <u>(q)</u>, <u>(r)</u>, <u>(u)</u>, <u>(v)</u>, <u>(w)</u>, <u>(y)</u> and <u>(z)</u> of this <u>Section</u> <u>6.01</u> (in any case, including any refinancing Indebtedness incurred in respect thereof, "**Refinancing Indebtedness**") and any subsequent Refinancing Indebtedness in respect thereof; <u>provided</u> that (i) the principal amount of such Indebtedness does not exceed the principal amount of the Indebtedness being refinanced, refunded or replaced, except by (A) an amount equal to unpaid accrued interest and premiums (including tender premiums) thereon *plus* underwriting discounts, other reasonable and customary fees, commissions and expenses (including upfront fees, original issue discount or initial yield payments) incurred in connection with the relevant refinancing, refunding or replacement, (B) an amount equal to any existing commitments unutilized thereunder and (C) additional amounts permitted to be incurred pursuant to this <u>Section</u> <u>6.01</u> (<u>provided</u> that (1) any additional Indebtedness referenced in this <u>clause</u> <u>(C)</u> satisfies the other applicable requirements of this definition (with additional amounts incurred in reliance on this <u>clause</u> <u>(C)</u> constituting a utilization of the relevant basket or exception under <u>Section</u> <u>6.01</u> pursuant to which such additional amount is permitted) and (2) if such additional Indebtedness is secured, the Lien securing such Indebtedness satisfies the applicable requirements of <u>Section</u> <u>6.02</u> and constitutes a utilization of the relevant basket or exception), (ii) other than in the case of Refinancing Indebtedness with respect to <u>clause</u> <u>(i)</u>, <u>(m)</u> or <u>(u)</u>, (A) such Indebtedness has a final maturity on or later than (and, in the case of revolving Indebtedness, does not require mandatory commitment reductions, if any, prior to) the final maturity of the Indebtedness being refinanced, refunded or replaced and (B) other than with respect to revolving Indebtedness, such Indebtedness has a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of the Indebtedness being refinanced, refunded or replaced, (iii) the terms of any Refinancing Indebtedness with an original principal amount in excess of the Threshold Amount (excluding pricing, fees, premiums, rate floors,

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optional prepayment or redemption terms (and, if applicable, subordination terms) and, with respect to Refinancing Indebtedness incurred in respect of Indebtedness permitted under <u>clause</u> <u>(a)</u> above, security), are not, taken as a whole (as reasonably determined by the Issuer), more favorable to the Holders providing such Indebtedness than those applicable to the Indebtedness being refinanced, refunded or replaced (other than any covenants or any other provisions applicable only to periods after the Latest Maturity Date as of such date or any covenants or provisions which are then-current market terms for the applicable type of Indebtedness), (iv) in the case of Refinancing Indebtedness with respect to Indebtedness permitted under <u>clauses</u> <u>(j)</u>, <u>(m)</u>, <u>(u)</u> and (<u>y)</u> of this <u>Section</u> <u>6.01</u>, the incurrence thereof shall be without duplication of any amounts outstanding in reliance on the relevant clause (and such Refinancing Indebtedness shall be deemed to be outstanding under such clause for purposes of determining compliance therewith), (v) except in the case of Refinancing Indebtedness incurred in respect of Indebtedness permitted under <u>clause</u> <u>(a)</u> of this <u>Section</u> <u>6.01</u> (it being understood that Holdings may not be the primary obligor of the applicable Refinancing Indebtedness if Holdings was not the primary obligor on the relevant refinanced Indebtedness), (A) such Indebtedness is secured only by Permitted Liens securing the Indebtedness being refinanced, refunded or replaced at the time of such refinancing, refunding or replacement (it being understood that secured Indebtedness may be refinanced with unsecured Indebtedness), (B) such Indebtedness is incurred by the obligor or obligors in respect of the Indebtedness being refinanced, refunded or replaced, except to the extent otherwise permitted pursuant to <u>Section</u> <u>6.01</u> and (C) if the Indebtedness being refinanced, refunded or replaced was originally contractually subordinated to the Obligations in right of payment (or the Liens securing such Indebtedness were originally contractually subordinated to the Liens on the Collateral securing the Secured Obligations), such Indebtedness is contractually subordinated to the Obligations in right of payment (or the Liens securing such Indebtedness are subordinated to the Liens on the Collateral securing the Secured Obligations) on terms not materially less favorable (as reasonably determined by the Issuer), taken as a whole, to the Holders than those applicable to the Indebtedness (or Liens, as applicable) being refinanced, refunded or replaced, taken as a whole, (vi) except in the case of Refinancing Indebtedness with respect to <u>clause</u> <u>(a)</u> of this <u>Section</u> <u>6.01</u>, as of the date of the incurrence of such Indebtedness and after giving effect thereto, no Event of Default exists, (vii) in the case of Refinancing Indebtedness incurred in respect of Indebtedness permitted under <u>clause</u> <u>(a)</u> of this <u>Section</u> <u>6.01</u>, (A) such Indebtedness shall rank *pari passu* or junior in right of payment and shall be secured by all or portion of the Collateral on a *pari passu* or junior basis with respect to the remaining Obligations hereunder, or shall be unsecured; <u>provided</u> that any such Indebtedness that ranks *pari passu* or junior with respect to the Collateral shall be subject to a Permitted Pari Passu Intercreditor Agreement or a Permitted Junior Intercreditor Agreement, as applicable, (B) if the Indebtedness being refinanced, refunded or replaced is secured, it is not secured by any assets other than the Collateral (but need not be secured by all such assets), (C) if the Indebtedness being refinanced, refunded or replaced is guaranteed, it shall not be guaranteed by any Person other than a Note Party (but need not be guaranteed by all such Persons), (D) such Indebtedness is incurred under (and pursuant to) documentation other than this Agreement, (E) any such Indebtedness that ranks *pari passu* with the Initial Term Notes hereunder in right of payment and secured by all or a portion of the Collateral on a *pari passu* basis with respect to the Secured Obligations hereunder that are secured on a first lien basis may participate on a pro rata basis or a less than pro rata basis (but not greater than a pro rata basis) in any voluntary or mandatory prepayment in respect of the Initial Term Notes (and any Additional Term Notes then subject to ratable repayment requirements), in each case as the applicable Issuer and the relevant Holder may agree and (F) the Indebtedness being refinanced, refunded or replaced shall be repaid, defeased or satisfied and discharged, and all accrued interest, fees and premiums (if any) in connection therewith, shall be paid, in each case substantially concurrently with the issuance of such Refinancing Indebtedness and (viii) no Issuer nor any of its Restricted Subsidiaries may refinance any Indebtedness incurred by an Unrestricted Subsidiary pursuant to this clause;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Indebtedness of any Person that becomes a Restricted Subsidiary for Indebtedness assumed in connection with an acquisition permitted hereunder after the Closing Date in an aggregate amount not to exceed the greater of (i) $85,000,000 and (ii) 25.0% of Consolidated Adjusted EBITDA for the Test Period then most recently ended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) so long as no Material Event of Default has occurred and is continuing, without duplication of clause (v) below, unsecured Indebtedness of the Issuer and/or Restricted Subsidiary in an aggregate outstanding principal amount not to exceed 100% of the amount of Net Proceeds received by the Issuer (an "**Excluded Debt Contribution**") from (i) the issuance or sale of Qualified Capital Stock or (ii) any cash contribution to its common equity with the Net Proceeds from the issuance and sale by any Parent Company of its Qualified Capital Stock or a contribution to the common equity of any Parent Company, in each case, (A) other than any Net Proceeds received from the sale of Capital Stock to, or contributions from, the Issuer or any of its Restricted Subsidiaries and (B) to the extent the relevant Net Proceeds have not otherwise been applied to make Investments, Restricted Payments or Restricted Debt Payments hereunder; <u>provided</u>, <u>however</u>, that such unsecured Indebtedness shall be incurred within 180 days after such issuance or cash contribution described in <u>clauses (i)</u> and <u>(ii)</u> above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) Indebtedness of the Issuer and/or any Restricted Subsidiary under any Derivative Transaction not entered into for speculative purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) Indebtedness in connection with Permitted Securitization Financings in an aggregate principal amount not to exceed the greater of (i) $85,000,000 and (ii) 25.0% of Consolidated Adjusted EBITDA for the Test Period then most recently ended, in either case, at any one time outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) so long as no Material Event of Default has occurred and is continuing, Indebtedness of any Note Party in an aggregate outstanding principal amount not to exceed the greater of (i) $100,000,000 and (ii) 30.0% of Consolidated Adjusted EBITDA for the Test Period then most recently ended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) so long as no Material Event of Default has occurred and is continuing, unsecured Indebtedness in an amount not to exceed the portion of the Available Excluded Contribution Amount on such date that the Issuer elect to apply to this clause 6.01(v) to the extent such amount has not otherwise been applied to make Investments, Restricted Payments or Restricted Debt Payments hereunder; <u>provided</u>, <u>however</u>, that such unsecured Indebtedness shall be incurred within 180 days after receipt of the proceeds or contribution being designated as included with the Available Excluded Contribution Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) [reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) Indebtedness consisting of Replacement Term Notes or any Replacement Variable Note, in each case to the extent permitted under <u>Section</u> <u>9.02(c)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) Indebtedness of the Issuer and/or any Restricted Subsidiary incurred in connection with Sale and Lease-Back Transactions permitted pursuant to <u>Section</u> <u>6.08</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) so long as no Material Event of Default has occurred and is continuing, secured or unsecured notes and/or loans (and/or commitments in respect thereof) issued or incurred by the Issuer in lieu of Incremental Notes (such notes or loans, "**Incremental Equivalent Debt**"); <u>provided</u> that (i) the aggregate outstanding principal amount (or committed amount, if applicable) of all Incremental Equivalent Debt, together with the aggregate outstanding principal amount (or committed amount, if applicable) of all Incremental Notes and Incremental Commitments provided pursuant to <u>Section</u> <u>2.22</u>, shall not exceed the Incremental Cap, (ii) any Incremental Equivalent Debt shall be subject to <u>clauses (vi)</u>, <u>(vii)</u>, <u>(ix)</u> and <u>(x)</u> (except, in the case of <u>clause (x)</u>, as otherwise agreed by the Persons providing such Incremental Equivalent Debt) and <u>(xvi)(A)</u> of the proviso to <u>Section</u> <u>2.22(a)</u>, (iii) any Incremental Equivalent Debt that is secured

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shall be secured only by all or a portion of the Collateral and on a *pari passu* or junior basis with all or a portion of the Collateral securing the Secured Obligations (but need not be secured by all such assets), (iv) any Incremental Equivalent Debt that rank *pari passu* with the Initial Term Notes in right of payment and with respect to security shall be subject to the "MFN" provision in <u>Section</u> <u>2.22(a)(v)</u> (the terms of which are incorporated into this clause (z), *mutatis mutandis*), (v) any Incremental Equivalent Debt that ranks *pari passu* in right of security with the Secured Obligations shall be subject to a Permitted Pari Passu Intercreditor Agreement; (vi) any Incremental Equivalent Debt that is secured by a lien that ranks junior in right of security to the Secured Obligations shall be subject to a Permitted Junior Intercreditor Agreement, (vii) any Incremental Equivalent Debt that is subordinated in right of payment shall be subject to subordination arrangements reasonably satisfactory to the Administrative Agent; (viii) no Incremental Equivalent Debt may be guaranteed by any Person that is not a Note Party (but need not be guaranteed by all such Persons); (ix) except as otherwise required or permitted in <u>clauses</u> <u>(i)</u> through <u>(viii)</u> above, all other terms of any Incremental Equivalent Debt, if not the same as the terms of the Initial Term Notes, shall be reasonably satisfactory to the Issuer and the Administrative Agent (it being understood that any terms which are not consistent with the terms of the Initial Term Notes and are applicable only after the then-existing Latest Term Note Maturity Date are deemed to be reasonably acceptable to the Administrative Agent);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) Indebtedness (including obligations in respect of letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments with respect to such Indebtedness) incurred by the Issuer and/or any Restricted Subsidiary in respect of workers compensation claims, unemployment insurance (including premiums related thereto), other types of social security, pension obligations, vacation pay, health, disability or other employee benefits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) Indebtedness of the Issuer and/or any Restricted Subsidiary representing (i) deferred compensation to directors, officers, employees, members of management, managers, and consultants of any Parent Company, the Issuer and/or any Restricted Subsidiary in the ordinary course of business and (ii) deferred compensation or other similar arrangements in connection with the Transactions, any Permitted Acquisition or any other Investment permitted hereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) [reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) [reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) unfunded pension fund and other employee benefit plan obligations and liabilities incurred by the Issuer and/or any Restricted Subsidiary in the ordinary course of business to the extent that the unfunded amounts would not otherwise cause an Event of Default under <u>Section</u> <u>7.01(i)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) to the extent constituting Indebtedness and without duplication of any other Indebtedness, all premiums (if any), interest (including post-petition interest and payment in kind interest), accretion or amortization of original issue discount, fees, expenses and charges with respect to Indebtedness of the Issuer and/or any Restricted Subsidiary hereunder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg) customer deposits and advance payments received in the ordinary course of business from customers for goods and services purchased in the ordinary course of business.

Notwithstanding anything contained herein to the contrary, no Note Party shall be permitted to create, incur, assume, guarantee or otherwise become or remain directly or indirectly liable with respect to any Indebtedness that is, from or of, either (a) a Non-Note Party or (b) an Unrestricted Subsidiary (such creation, incurrence, assumption or guaranty being referred to as "<u>Non-Note Party Indebtedness of Note Parties</u>"), in each case, to the extent that the structuring of any claims with respect to any Indebtedness created, assumed, incurred or guaranteed by such Note Parties, together with any Non-Note Party Indebtedness of Note Parties, could reasonably be expected to result in two or more bankruptcy claims against the same Note Party or a double claim for direct and indirect obligations against the same Note Party, arising from one transaction or series of transactions relating to the same underlying Non-Note Party Indebtedness of Note Parties.

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Notwithstanding anything to the contrary set forth herein, this <u>Section</u> <u>6.01</u> is subject to the provisions set forth in <u>Section</u> <u>1.03(b)</u>.

Section 6.02 <u>Liens</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, create, incur, assume or permit or suffer to exist any Lien on or with respect to any property of any kind owned by it, whether now owned or hereafter acquired, or any income or profits therefrom, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Liens securing the Secured Obligations created pursuant to the Notes Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Liens for Taxes which are (i) for amounts not yet overdue for more than 30 days or (ii) being contested in accordance with <u>Section</u> <u>5.03(a)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) statutory Liens (and rights of set-off) of landlords, banks, carriers, warehousemen, mechanics, repairmen, workmen and materialmen, and other Liens imposed by law, in each case incurred in the ordinary course of business (i) for amounts not yet overdue by more than 30 days or (ii) for amounts that are overdue by more than 30 days and that are being contested in good faith by appropriate proceedings, so long as adequate reserves or other appropriate provisions required by GAAP shall have been made for any such contested amounts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Liens incurred (i) in the ordinary course of business in connection with workers' compensation, unemployment insurance and other types of social security laws and regulations, (ii) in the ordinary course of business to secure the performance of tenders, statutory obligations, surety, stay, customs and appeal bonds, bids, leases, government contracts, trade contracts, performance and return-of-money bonds and other similar obligations (exclusive of obligations for the payment of borrowed money), (iii) pursuant to pledges and deposits of Cash or Cash Equivalents in the ordinary course of business securing (x) any liability for reimbursement or indemnification obligations of insurance carriers providing property, casualty, liability or other insurance to the Issuer and their subsidiaries or (y) leases or licenses of property otherwise permitted by this Agreement and (iv) to secure obligations in respect of letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments posted with respect to the items described in <u>clauses (i)</u> through <u>(iii)</u> above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Liens consisting of easements, rights-of-way, restrictions, encroachments, and other minor defects or irregularities in title, in each case which do not, in the aggregate, materially interfere with the ordinary conduct of the business of the Issuer and/or their Restricted Subsidiaries, taken as a whole, or the use of the affected property for its intended purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Liens consisting of any (i) interest or title of a lessor or sub-lessor under any lease of real estate permitted hereunder, (ii) landlord lien permitted by the terms of any lease, (iii) restriction or encumbrance to which the interest or title of such lessor or sub-lessor may be subject or (iv) subordination of the interest of the lessee or sub-lessee under such lease to any restriction or encumbrance referred to in the preceding <u>clause (iii)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Liens solely on any Cash earnest money deposits made by the Issuer and/or any of its Restricted Subsidiaries in connection with any letter of intent or purchase agreement with respect to any Investment permitted hereunder;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) purported Liens evidenced by the filing of precautionary UCC financing statements relating solely to operating leases or consignment or bailee arrangements entered into 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;(i) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Liens in connection with any zoning, building or similar law or right reserved to or vested in any Governmental Authority to control or regulate the use of any or dimensions of real property or the structure thereon;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Liens securing Indebtedness permitted pursuant to <u>Section</u> <u>6.01(p)</u> (solely with respect to the permitted refinancing of Indebtedness permitted pursuant to <u>Sections</u> <u>6.01(a)</u>, <u>(i)</u>, <u>(j)</u>, <u>(m)</u>, <u>(q)</u>, <u>(u)</u>, (v), <u>(w)</u> and <u>(z)</u>, in each case, so long as such Indebtedness is secured by Liens permitted under this <u>Section</u> <u>6.02</u> (other than this clause (k)); <u>provided</u> that (i) no such Lien extends to any asset not covered by the Lien securing the Indebtedness that is being refinanced, (ii) if the Indebtedness being refinanced was subject to intercreditor arrangements, then any refinancing Indebtedness in respect thereof shall be subject to intercreditor arrangements not materially less favorable to the Secured Parties, taken as a whole, than the intercreditor arrangements governing the Indebtedness that is refinanced or the intercreditor arrangements governing the relevant refinancing Indebtedness shall be otherwise reasonably acceptable to the Administrative Agent and (iii) any such Liens shall count towards any basket pursuant to which the applicable refinanced Lien was justified when originally incurred;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Liens described on <u>Schedule</u> <u>6.02</u> and any modification, replacement, refinancing, renewal or extension thereof; <u>provided</u> that (i) no such Lien extends to any additional property other than (A) after-acquired property that is affixed or incorporated into the property covered by such Lien or financed by Indebtedness permitted under <u>Section</u> <u>6.01</u> and (B) proceeds and products thereof, accessions thereto and improvements thereon (it being understood that individual financings of the type permitted under <u>Section</u> <u>6.01(m)</u> provided by any lender may be cross-collateralized to other financings of such type provided by such lender or its affiliates) and (ii) such modification, replacement, refinancing, renewal or extension of the obligations secured or benefited by such Liens, if constituting Indebtedness, is permitted by <u>Section</u> <u>6.01</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Liens arising out of Sale and Lease-Back Transactions permitted under <u>Section</u> <u>6.08</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Liens securing Indebtedness permitted pursuant to <u>Section</u> <u>6.01(m)</u>; <u>provided</u> that any such Lien shall encumber only the asset acquired with the proceeds of such Indebtedness and proceeds and products thereof, accessions thereto and improvements thereon (it being understood that individual financings of the type permitted under <u>Section</u> <u>6.01(m)</u> provided by any lender may be cross-collateralized to other financings of such type provided by such lender or its affiliates);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Liens securing Indebtedness incurred pursuant to <u>Section</u> <u>6.01(q)</u>; <u>provided</u> that, with respect to any such Liens on all or any portion of the Collateral, such Liens shall rank *pari passu* with, or junior to, the Liens securing the Secured Obligations pursuant to a Permitted Pari Passu Intercreditor Agreement or Permitted Junior Intercreditor Agreement, as applicable; <u>provided</u>, <u>further</u>, that with respect to Liens securing Indebtedness of Persons that become, or Indebtedness assumed by, a Restricted Subsidiary, no such Lien (x) extends to or covers any other assets (other than the proceeds or products thereof, accessions or additions thereto and improvements thereon) or (y) was created in contemplation of the applicable acquisition of assets or Capital Stock;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Liens (i) that are contractual rights of set-off or netting relating to (A) the establishment of depositary relations with banks not granted in connection with the issuance of Indebtedness, (B) pooled deposit or sweep accounts of the Issuer and/or any Restricted Subsidiary to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Issuer and/or any Restricted Subsidiary, (C) purchase orders and other agreements entered into with customers of the Issuer and/or any Restricted Subsidiary in the ordinary course of business and (D) commodity trading or other brokerage accounts incurred in the ordinary course of business and (ii) encumbering reasonable customary initial deposits and margin deposits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Liens on assets and Capital Stock of Restricted Subsidiaries that are not Note Parties (other than Capital Stock owned directly by any Note Party) securing Indebtedness of Restricted Subsidiaries that are not Note Parties permitted pursuant to <u>Section</u> <u>6.01</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) Liens securing obligations (other than obligations representing Indebtedness for borrowed money) under operating, reciprocal easement or similar agreements entered into in the ordinary course of business of the Issuer and/or its Restricted Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) Liens disclosed in any Mortgage Policy delivered pursuant to <u>Section</u> <u>5.12(b)</u> with respect to any Material Real Estate Asset and any replacement, extension or renewal of any such Lien; <u>provided</u> that (i) no such replacement, extension or renewal Lien shall cover any property other than the property that was subject to such Lien prior to such replacement, extension or renewal (and additions thereto, improvements thereon and the proceeds thereof) and (ii) such Liens do not, in the aggregate, materially interfere with the ordinary conduct of the business of the Issuer and/or its Restricted Subsidiaries, taken as a whole, or the use of the affected property for its intended purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) Liens securing Indebtedness incurred pursuant to <u>Section</u> <u>6.01(z)</u>, so long as the conditions described therein are satisfied;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) other Liens on assets securing Indebtedness or other obligations in an aggregate principal amount at any time outstanding not to exceed the greater of (i) $100,000,000 and (ii) 30.0% of Consolidated Adjusted EBITDA for the Test Period then most recently ended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Liens on assets securing judgments, awards, attachments and/or decrees and notices of *lis pendens* and associated rights relating to litigation being contested in good faith not constituting an Event of Default under <u>Section</u> <u>7.01(h)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) 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 Issuer and their Restricted Subsidiaries (other than any Immaterial Subsidiary) or (ii) secure any Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) Liens on Securities that are the subject of repurchase agreements constituting Investments permitted under <u>Section</u> <u>6.06</u> arising out of such repurchase transaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) Liens securing obligations in respect letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments permitted under <u>Section</u> <u>6.01(d)</u>, <u>(e)</u>, <u>(g)(iii)</u>, <u>(aa)</u> and <u>(cc)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) Liens arising (i) out of conditional sale, title retention, consignment or similar arrangements for the sale of any assets or property in the ordinary course of business and permitted by this Agreement or (ii) by operation of law under Article 2 of the UCC (or similar law of any jurisdiction);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) Liens (i) in favor of any Note Party and/or (ii) granted by any non-Note Party in favor of any Restricted Subsidiary that is not a Note Party, in the case of each of <u>clauses (i)</u> and <u>(ii)</u>, securing intercompany Indebtedness permitted under <u>Section</u> <u>6.01</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) Liens on specific items of inventory or other goods and the proceeds thereof securing the relevant Person's obligations in respect of documentary letters of credit or banker's acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or goods;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) Liens on cash collateral securing (i) obligations under Hedge Agreements in connection with any Derivative Transaction of the type described in <u>Section</u> <u>6.01(s)</u> and/or (ii) obligations of the type described in <u>Section</u> <u>6.01(f)</u>, in each case, to the extent such obligations do not constitute Secured Obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) (i) Liens on Capital Stock of joint ventures or Unrestricted Subsidiaries securing capital contributions to, or obligations of, such Persons and (ii) customary rights of first refusal and tag, drag and similar rights in joint venture agreements and agreements with respect to non-Wholly-Owned Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) Liens on cash or Cash Equivalents arising in connection with the permitted defeasance, discharge or redemption of Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg) Liens evidenced by the filing of UCC financing statements relating to factoring or similar arrangements entered into 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;(hh) Liens in respect of Permitted Securitization Financings that extend only to Securitization Assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Liens securing Indebtedness permitted pursuant to <u>Section</u> <u>6.01(c)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj) Liens securing Indebtedness incurred in reliance on <u>Section</u> <u>6.01(w)</u> so long as the condition described in <u>clause (A)</u> or <u>clause (B)</u>, as applicable, of <u>Section</u> <u>6.01(w)</u> has been satisfied,

in each case, provided that no Lien shall be permitted to be created over any Material Asset other than pursuant to a Collateral Document to secure the Secured Obligations or any Indebtedness incurred in accordance with <u>Section</u> <u>6.01(x)</u> or <u>(z)</u>.

Notwithstanding anything to the contrary set forth herein, this <u>Section</u> <u>6.02</u> is subject to the provisions set forth in <u>Section</u> <u>1.03(b)</u>.

Section 6.03 <u>No Further Negative Pledges</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, enter into any agreement prohibiting the creation or assumption of any Lien upon any of its properties, whether now owned or hereafter acquired, for the benefit of the Secured Parties with respect to the Secured Obligations (each, a "**Negative Pledge**"), except with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) specific property to be sold pursuant to any Disposition permitted by <u>Section</u> <u>6.07</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;(b) restrictions contained in any agreement with respect to Indebtedness permitted by <u>Section</u> <u>6.01</u> that is secured by a Permitted Lien, but only if such restrictions apply only to the Person or Persons obligated under such Indebtedness and its or their Restricted Subsidiaries or the property or assets securing such Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) restrictions by reason of customary provisions restricting assignments, subletting or other transfers (including the granting of any Lien) contained in leases, subleases, licenses, sublicenses and other agreements entered into in the ordinary course of business (<u>provided</u> that such restrictions are limited to the relevant leases, subleases, licenses, sublicenses or other agreements and/or the property or assets secured by such Liens or the property or assets subject to such leases, subleases, licenses, sublicenses or other agreements, 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;(d) Permitted Liens and restrictions in the agreements relating thereto that limit the right of the Issuer or any of its Restricted Subsidiaries to Dispose of, or encumber the assets subject to such Liens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) provisions limiting the Disposition or distribution of assets or property in joint venture agreements, sale-leaseback agreements, stock sale agreements and other similar agreements, which limitation is applicable only to the assets that are the subject of such agreements (or the Persons the Capital Stock of which is the subject of such agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any encumbrance or restriction assumed in connection with an acquisition of the property or Capital Stock of any Person, so long as such encumbrance or restriction relates solely to the property so acquired (or to the Person or Persons (and its or their subsidiaries) bound thereby) and was not created in connection with or in anticipation of such acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) restrictions imposed by customary provisions in partnership agreements, limited liability company organizational governance documents, joint venture agreements and other similar agreements, in each case, with respect to Restricted Subsidiaries that are not Wholly-Owned Subsidiaries of the Issuer, that restrict the transfer of the assets of, or ownership interests in, the relevant partnership, limited liability company, joint venture or any similar Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) restrictions on Cash or other deposits imposed by Persons under contracts entered into in the ordinary course of business or for whose benefit such Cash or other deposits exist;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) restrictions set forth in documents which exist on the Closing Date (other than, following the Closing Date, documents related to the Existing Credit Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) restrictions set forth in any Notes Document, any Hedge Agreement and/or any agreement relating to any Banking Services Obligation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) restrictions contained in documents governing Indebtedness permitted hereunder of any Restricted Subsidiary that is not a Note Party; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) other restrictions or encumbrances imposed by any amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing of the contracts, instruments or obligations referred to in <u>clauses (a)</u> through <u>(k)</u> above; <u>provided</u> that no such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing is, in the good faith judgment of the Issuer, more restrictive with respect to such encumbrances and other restrictions, taken as a whole, than those in effect prior to the relevant amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing, in each case, provided that no Negative Pledge shall be permitted to be created over any Material Asset other than pursuant to a Collateral Document to secure the Secured Obligations or pursuant to the terms of any Indebtedness incurred in accordance with <u>Section</u> <u>6.01(x)</u> or <u>(z)</u>.

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Section 6.04 <u>Restricted Payments; Certain Payments of Indebtedness</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) No Issuer shall pay or make, directly or indirectly, any Restricted Payment, except 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;(i) the Issuer may make Restricted Payments to the extent necessary to permit any Parent Company (and so long as such amounts are promptly applied by such Parent 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;(A) to pay general administrative costs and expenses (including corporate overhead, legal or similar expenses and customary salary, bonus and other benefits payable to directors, officers, employees, members of management, managers and/or consultants of any Parent Company) and franchise fees and Taxes and similar fees, Taxes and expenses required to enable such Parent Company to maintain its organizational existence or qualification to do business, in each case, which are reasonable and customary and incurred in the ordinary course of business, *plus* any reasonable and customary indemnification claims made by directors, officers, members of management, managers, employees or consultants of any Parent Company, in each case, to the extent attributable to the ownership or operations of any Parent Company and its subsidiaries (but excluding the portion of such amount that is attributable to the ownership or operations of any subsidiary of any Parent Company other than the Issuer and their subsidiaries)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) to make Permitted Tax Distributions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) to pay audit and other accounting and reporting expenses of such Parent Company to the extent attributable to any Parent Company (but excluding, for the avoidance of doubt, the portion of any such expenses, if any, attributable to the ownership or operations of any subsidiary of any Parent Company other than the Issuer and/or their subsidiaries), the Issuer and their subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) for the payment of insurance premiums to the extent attributable to any Parent Company (but excluding, for the avoidance of doubt, the portion of any such premiums, if any, attributable to the ownership or operations of any subsidiary of any Parent Company other than the Issuer and/or its subsidiaries), the Issuer and its subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) pay (x) fees and expenses related to debt or equity offerings, investments or acquisitions permitted or not restricted by this Agreement (whether or not consummated) relating to the Issuer and its Restricted Subsidiaries and (y) Public Company 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(F) to finance any Investment permitted under <u>Section</u> <u>6.06</u> (<u>provided</u> that (x) any Restricted Payment under this <u>clause (a)(i)(F)</u> shall be made substantially concurrently with the closing of such Investment and (y) the relevant Parent Company shall, promptly following the closing thereof, cause (I) all property acquired to be contributed to the Issuer or one or more of its Restricted Subsidiaries, or (II) the merger, consolidation or amalgamation of the Person formed or acquired into the Issuer or one or more of its Restricted Subsidiaries, in order to consummate such Investment in compliance with the applicable requirements of <u>Section</u> <u>6.06</u> as if undertaken as a direct Investment by such Issuer or the relevant Restricted Subsidiary);

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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) to pay customary salary, bonus, severance and other benefits payable to current or former directors, officers, members of management, managers, employees or consultants of any Parent Company (or any Immediate Family Member of any of the foregoing) to the extent such salary, bonuses and other benefits are attributable and reasonably allocated to the operations of the Issuer and/or their subsidiaries, in each case, so long as such Parent Company applies the amount of any such Restricted Payment 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;(H) to pay costs, expenses and fees associated with litigation or governmental proceedings, investigations or inquires, in each case to the extent such costs, expenses and fees are attributable and reasonably allocated to the operations of the Issuer and/or their subsidiaries, in each case, so long as such Parent Company applies the amount of any such Restricted Payment for such purpose;

<u>provided</u>, that with respect to Restricted Payments under clauses (A), (B), (C), (D), (G) and (H) above, such Restricted Payments that are attributable to any Unrestricted Subsidiary shall be permitted only to the extent that either (x) such Unrestricted Subsidiary has made one or more cash distributions, advances or loans to the Issuer or any of its Restricted Subsidiaries for such purpose in an amount up to the amount of such Unrestricted Subsidiary's proportionate share of such Restricted Payment or (y) the amount of any such Restricted Payment made by the Issuer on behalf of such Unrestricted Subsidiary is treated as an Investment subject to Section 6.06 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;(ii) the Issuer may pay (or make Restricted Payments to allow any Parent Company to pay) for the repurchase, redemption, retirement or other acquisition or retirement for value of Capital Stock of any Parent Company or any subsidiary held by any future, present or former employee, director, member of management, officer, manager or consultant (or any Affiliate or Immediate Family Member thereof) of any Parent Company, the Issuer or any 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) in exchange for promissory notes issued pursuant to <u>Section</u> <u>6.01(o)</u>, so long as the aggregate amount of all Cash payments made in respect of such promissory notes, together with the aggregate amount of Restricted Payments made pursuant to <u>sub-clause (D)</u> of this <u>clause (ii)</u> below, does not exceed $20,000,000 in any Fiscal Year, which, if not used in any Fiscal Year, may be carried forward to the next subsequent 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) with the proceeds of any sale or issuance of the Capital Stock of the Issuer or any Parent Company (to the extent such proceeds are contributed in respect of Qualified Capital Stock to the Issuer or any Restricted 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) with the net proceeds of any key-man life insurance policies; 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) with Cash and Cash Equivalents in an amount not to exceed, together with the aggregate amount of all cash payments made pursuant to sub-clause (A) of this clause (ii) in respect of promissory notes issued pursuant to Section 6.01(o), $20,000,000 in any Fiscal Year, which, if not used in any Fiscal Year, may be carried forward to the next subsequent Fiscal Year;

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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;(iii) so long as no Event of Default then exists or would result therefrom, the Issuer may make additional Restricted Payments in an amount not to exceed (A) the portion, if any, of the Available Amount on such date that such Issuer elects to apply to this <u>clause (iii)(A)</u> *plus* (B) the portion, if any, of the Available Excluded Contribution Amount on such date that such Issuer elects to apply to this <u>clause (iii)(B)</u> to the extent such amount has not otherwise been applied to make Investments, Restricted Payments or Restricted Debt Payments hereunder; <u>provided</u> that, in the case of clause (A) above, the Total Leverage Ratio, calculated on a Pro Forma Basis, would not exceed 1.00:1.00;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the Issuer may make Restricted Payments (i) to any Parent Company to enable such Parent Company to make Cash payments in lieu of the issuance of fractional shares in connection with the exercise of warrants, options or other securities convertible into or exchangeable for Capital Stock of such Parent Company and (ii) consisting of (A) payments made or expected to be made in respect of withholding or similar Taxes payable by any future, present or former officers, directors, employees, members of management, managers or consultants of the Issuer, any Restricted Subsidiary or any Parent Company or any of their respective Immediate Family Members and/or (B) repurchases of Capital Stock in consideration of the payments described in <u>sub-clause (A)</u> above, including demand repurchases in connection with the exercise of stock options;

&nbsp;&nbsp;&nbsp;&nbsp;&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) the Issuer may repurchase (or make Restricted Payments to any Parent Company to enable it to repurchase) Capital Stock upon the exercise of warrants, options or other securities convertible into or exchangeable for Capital Stock if such Capital Stock represents all or a portion of the exercise price of such warrants, options or other securities convertible into or exchangeable for Capital Stock as part of a "cashless" exercise;

&nbsp;&nbsp;&nbsp;&nbsp;&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) so long as no Event of Default exists or would result therefrom, the Issuer may pay (or make Restricted Payments to allow any Parent Company to pay) for the repurchase, redemption, retirement, dividends or other acquisition or retirement for value of Capital Stock of any Parent Company or any subsidiary in an amount not to exceed per annum the greater of (x) $30,000,000 in any Fiscal Year, which, if not used in any Fiscal Year, may be carried forward to the next subsequent Fiscal Year and (y) 6.0% of the market capitalization of the Applicable Reporting Company measured at the time of each 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;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the Issuer may make Restricted Payments to any other Issuer;

&nbsp;&nbsp;&nbsp;&nbsp;&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) the Issuer may make Restricted Payments to (i) redeem, repurchase, retire or otherwise acquire any (A) Capital Stock ("**Treasury Capital Stock**") of the Issuer and/or any Restricted Subsidiary or (B) Capital Stock of any Parent Company, in the case of each of <u>subclauses (A)</u> and <u>(B)</u>, in exchange for, or out of the proceeds of the substantially concurrent sale (other than to the Issuer and/or any Restricted Subsidiary) of, Qualified Capital Stock of the Issuer or any Parent Company to the extent any such proceeds are contributed to the capital of the Issuer and/or any Restricted Subsidiary in respect of Qualified Capital Stock ("**Refunding Capital Stock**") and (ii) declare and pay dividends on any Treasury Capital Stock out of the proceeds of the substantially concurrent sale (other than to the Issuer or a Restricted Subsidiary) of any Refunding Capital 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;(ix) to the extent constituting a Restricted Payment, the Issuer may consummate any transaction permitted by <u>Section</u> <u>6.06</u> (other than <u>Sections 6.06(j)</u> and <u>(t)</u>) and <u>Section</u> <u>6.07</u> (other than <u>Section</u> <u>6.07(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;(x) the Issuer may make other Restricted Payments in an aggregate amount not to exceed the greater of (i) $42,500,000 and (ii) 12.5% of Consolidated Adjusted EBITDA for the Test Period then most recently ended, so long as no Event of Default shall have occurred and be continuing or shall result 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;&nbsp;&nbsp;&nbsp;&nbsp;(xi) the Issuer may pay any dividend or consummate any redemption within 60 days after the date of the declaration thereof or the provision of a redemption notice with respect thereto, as the case may be, if at the date of such declaration or notice, the dividend or redemption notice would have complied with the provisions 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;(xii) the Issuer may make Restricted Payments in an aggregate amount not to exceed $100,000,000 during the term of this Agreement to allow the Applicable Reporting Company to repurchase, redeem and/or retire Capital Stock of the Applicable Reporting Company from time to time, so long as no Event of Default shall have occurred and be continuing or shall result therefrom; 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;(xiii) other Restricted Payments in an unlimited amount; <u>provided</u> that (i) no Event of Default then exists or would result therefrom and (ii) the Total Leverage Ratio would be at least 0.50:1.00 on a Pro Forma Basis.

For the avoidance of doubt, Holdings may make Restricted Payments with the proceeds of any Restricted Payment permitted hereunder.

Notwithstanding anything herein to the contrary, the only baskets available for Investments made in, or Dispositions or Restricted Payments to, Unrestricted Subsidiaries and their respective Subsidiaries and designations of Unrestricted Subsidiaries shall be <u>Section</u> <u>6.06(x)</u> (it being understood, for the avoidance of doubt, that the amount of any such Investment shall be measured solely as of the date of any designation of such Unrestricted Subsidiary or any additional Investment therein, as applicable).

Notwithstanding anything to the contrary set forth herein, this <u>Section</u> <u>6.04(a)</u> is subject to the provisions set forth in <u>Section</u> <u>1.03(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Neither Holdings nor the Issuer shall, nor shall they permit any Restricted Subsidiary to, make any payment (whether in Cash, securities or other property) on or in respect of principal of or interest on (x) any Junior Lien Indebtedness or (y) any unsecured Indebtedness or Junior Indebtedness (such Indebtedness under <u>clauses</u> <u>(x)</u>, <u>(y)</u> and <u>(z)</u>, the "**Restricted Debt**"), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any Restricted Debt prior to its scheduled maturity (collectively, "**Restricted Debt Payments**"), 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;(i) any purchase, defeasance, redemption, repurchase, repayment or other acquisition or retirement of any Restricted Debt made by exchange for, or out of the proceeds of, the substantially concurrent incurrence of Refinancing Indebtedness permitted by <u>Section</u> <u>6.01(p)</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;(ii) payments as part of an "applicable high yield discount obligation" catch-up 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;(iii) payments of regularly scheduled interest as and when due in respect of any Restricted Debt, except for any payments with respect to any Subordinated Indebtedness that are prohibited by the subordination provisions 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;(iv) [Reserved];

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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;(v) (A) Restricted Debt Payments in exchange for, or with proceeds of any issuance of, Qualified Capital Stock of the Issuer and/or any Restricted Subsidiary and/or any capital contribution in respect of Qualified Capital Stock of the Issuer or any Restricted Subsidiary, (B) Restricted Debt Payments as a result of the conversion of all or any portion of any Restricted Debt into Qualified Capital Stock of the Issuer and/or any Restricted Subsidiary and (C) to the extent constituting a Restricted Debt Payment, payment-in-kind interest with respect to any Restricted Debt to the extent that the incurrence of such additional Restricted Debt is permitted under <u>Section</u> <u>6.01</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;(vi) so long as no Event of Default exists or would result therefrom, Restricted Debt Payments in an aggregate amount not to exceed (A) the portion, if any, of the Available Amount on such date that the Issuer elects to apply to this <u>clause</u> <u>(vi)(A)</u> *plus* (B) the portion, if any, of the Available Excluded Contribution Amount on such date that the Issuer elects to apply to this <u>clause</u> <u>(vi)(B)</u> to the extent such amount has not otherwise been applied to make Investments, Restricted Payments or Restricted Debt Payments hereunder; <u>provided</u> that, in the case of clause (A) above, the Total Leverage Ratio, calculated on a Pro Forma Basis, would not exceed 1.00:1.00.

Section 6.05 <u>Restrictions on Subsidiary Distributions</u>. Except as provided herein or in any other Notes Document, any document with respect to any Incremental Equivalent Debt and/or in agreements with respect to refinancings, renewals or replacements of such Indebtedness that are permitted by <u>Section</u> <u>6.01</u>, (so long as such refinancing, renewal or replacement does not expand the scope of such contractual obligation) no Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, enter into or cause to exist any agreement restricting the ability of (i) any subsidiary of the Issuer to pay dividends or other distributions to the Issuer or any Note Party, (ii) any Restricted Subsidiary to make cash loans or advances to the Issuer or any Note Party or to repay or prepay any Notes or advances made by any such Person or (iii) transfer any of its property or assets to the Issuer or any other Note Party, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in any agreement evidencing (i) Indebtedness of a Restricted Subsidiary that is not a Note Party permitted by <u>Section</u> <u>6.01</u>, (ii) Indebtedness permitted by <u>Section</u> <u>6.01</u> that is secured by a Permitted Lien if the relevant restriction applies only to the Person obligated under such Indebtedness and its Restricted Subsidiaries or the property or assets intended to secure such Indebtedness and (iii) Indebtedness permitted pursuant to <u>clauses (m)</u>, <u>(n)</u>, <u>(p)</u> (as it relates to Indebtedness in respect of <u>clauses</u> <u>(m)</u>, <u>(n)</u>, <u>(r)</u>, <u>(u)</u>, <u>(v)</u>, <u>(q)</u>, <u>(w)</u> and/or <u>(z)</u> of <u>Section</u> <u>6.01</u>), <u>(q)</u>, <u>(r)</u>, <u>(u)</u>, <u>(v)</u>, <u>(w)</u> and/or <u>(z)</u> of <u>Section</u> <u>6.01</u>; <u>provided</u> that, in the case of Indebtedness permitted pursuant to clauses (r), (u), (v) or (p) (as it relates to Indebtedness permitted pursuant to clauses (r), (u) or (v)) of <u>Section</u> <u>6.01</u>, such restrictions are not materially more restrictive, taken as a whole, than the restrictions contained in this Agreement or are market terms at the time of incurrence or issuance of such Indebtedness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by reason of customary provisions restricting assignments, subletting or other transfers contained in leases, subleases, licenses, sublicenses, joint venture agreements and similar agreements entered into 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;(d) assumed in connection with any acquisition of property or the Capital Stock of any Person, so long as the relevant encumbrance or restriction relates solely to the Person and its subsidiaries (including the Capital Stock of the relevant Person or Persons) and/or all or a portion of the property so acquired and was not created in connection with or in anticipation of such acquisition;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) in any agreement for any Disposition of any Restricted Subsidiary (or all or substantially all of the property and/or assets thereof) that restricts the payment of dividends or other distributions or the making of cash loans or advances by such Restricted Subsidiary pending such Disposition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) in provisions in agreements or instruments which prohibit the payment of dividends or the making of other distributions with respect to any class of Capital Stock of a Person other than on a *pro rata* basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) imposed by customary provisions in partnership agreements, limited liability company organizational governance documents, joint venture agreements and other similar agreements, in each case, with respect to Restricted Subsidiaries that are not Wholly-Owned Subsidiaries of the Issuer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) on Cash, other deposits or net worth or similar restrictions imposed by any Person under any contract entered into in the ordinary course of business or for whose benefit such Cash, other deposits or net worth or similar restrictions exist;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) set forth in documents which exist on the Closing Date and not created in contemplation thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) those arising pursuant to an agreement or instrument relating to any Indebtedness permitted to be incurred after the Closing Date if the relevant restrictions, taken as a whole, are not materially less favorable to the Holders than the restrictions contained in this Agreement, taken as a whole (as determined in good faith by the Issuer);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) those arising under or as a result of applicable law, rule, regulation or order or the terms of any governmental license, authorization, concession or permit;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) those arising in any Hedge Agreement and/or any agreement relating to any Banking Services Obligation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) those contained in any Permitted Securitization Document with respect to any Special Purpose Securitization Subsidiary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) those imposed by any amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing of any contract, instrument or obligation referred to in <u>clauses (a)</u> through <u>(m)</u> above; <u>provided</u> that no such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing is, in the good faith judgment of the Issuer, more restrictive with respect to such restrictions, taken as a whole, than those in existence prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing.

Section 6.06 <u>Investments</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, make or own any Investment in any other Person except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cash or Investments that were Cash Equivalents at the time made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) (i) Investments existing on the Closing Date in any subsidiary, (ii) Investments made after the Closing Date among the Issuer and/or one or more Restricted Subsidiaries that are Note Parties, (iii) Investments made after the Closing Date by any Note Party in any Restricted Subsidiary that is not a Note Party in an aggregate outstanding amount not to exceed the greater of (A) $145,000,000 and

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(B) 40.0% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period, (iv) Investments made by any Note Party and/or any Restricted Subsidiary that is not a Note Party in the form of any contribution or Disposition of the Capital Stock of any Person that is not a Note Party so long as such Investment is not made in an Unrestricted Subsidiary; <u>provided</u> that, prior to such contribution or Disposition or series of transactions resulting in such contribution or Disposition, such Capital Stock was not owned directly by a Note Party and (v) Investments made by any Restricted Subsidiary that is not a Note Party in any Note Party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Investments (i) constituting deposits, prepayments and/or other credits to suppliers and/or (ii) in the form of advances made to distributors, suppliers, licensors and licensees, in each case, in the ordinary course of business or, in the case of <u>clause (ii)</u>, to the extent necessary to maintain the ordinary course of supplies to the Issuer or any Restricted Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) [Reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) (i) Permitted Acquisitions and (ii) Investments in Restricted Subsidiaries that are not Note Parties in amounts required to permit such Restricted Subsidiaries to consummate Permitted Acquisitions, so long as the consideration for such Investments shall be included for the purpose of calculating any amount available for Permitted Acquisitions pursuant to clause (b) of the proviso to the definition of "Permitted Acquisition";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Investments (i) existing on, or contractually committed to or contemplated as of, the Closing Date and described on <u>Schedule</u> <u>6.06</u> and (ii) any modification, replacement, renewal or extension of any Investment described in <u>clause (i)</u> above so long as no such modification, renewal or extension thereof increases the amount of such Investment except by the terms thereof or as otherwise permitted by this <u>Section</u> <u>6.06</u> (in which case, such increase shall be required to be justified under one or more other exceptions to this <u>Section</u> <u>6.06</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Investments received in lieu of Cash in connection with any Disposition permitted by <u>Section</u> <u>6.07</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) loans or advances to present or former employees, directors, members of management, officers, managers or consultants or independent contractors (or their respective Immediate Family Members) of any Parent Company, the Issuer and its subsidiaries to the extent permitted by Requirements of Law, in connection with such Person's purchase of Capital Stock of any Parent Company, either (i) in an aggregate principal amount not to exceed $10,000,000 at any one time outstanding or (ii) so long as the proceeds of such loan or advance are substantially contemporaneously contributed to the Issuer or a Restricted Subsidiary for the purchase of Qualified Capital Stock thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Investments consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant 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;(j) Investments consisting of Indebtedness permitted under <u>Section</u> <u>6.01</u> (other than Indebtedness permitted under <u>Sections</u> <u>6.01(b</u>) and <u>(h)</u>), Permitted Liens, Restricted Payments permitted under <u>Section</u> <u>6.04</u> (other than <u>Section</u> <u>6.04(a)(ix)</u>), Restricted Debt Payments permitted by <u>Section</u> <u>6.04(b)</u> and mergers, consolidations, amalgamations, liquidations, windings up, dissolutions or Dispositions permitted by <u>Section</u> <u>6.07</u> (other than <u>Section</u> <u>6.07(a)</u> (if made in reliance on <u>subclause (ii)(y)</u> of the proviso thereto), <u>Section</u> <u>6.07(b)</u> (if made in reliance on <u>clause</u> <u>(ii)</u> therein), <u>Section</u> <u>6.07(c)(ii)</u> (if made in reliance on <u>clause (B)</u> therein) and <u>Section</u> <u>6.07(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;(k) Investments in the ordinary course of business consisting of endorsements for collection or deposit and customary trade arrangements with customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Investments (including debt obligations and Capital Stock) received (i) in connection with the bankruptcy or reorganization of any Person, (ii) in settlement of delinquent obligations of, or other disputes with, customers, suppliers and other account debtors arising in the ordinary course of business, (iii) upon foreclosure with respect to any secured Investment or other transfer of title with respect to any secured Investment and/or (iv) as a result of the settlement, compromise, resolution of litigation, arbitration or other disputes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) loans and advances of payroll payments or other compensation to present or former employees, directors, members of management, officers, managers or consultants of any Parent Company (to the extent such payments or other compensation relate to services provided to such Parent Company (but excluding, for the avoidance of doubt, the portion of any such amount, if any, attributable to the ownership or operations of any subsidiary of any Parent Company other than the Issuer and/or its subsidiaries)), the Issuer and/or any subsidiary 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;(n) Investments to the extent that payment therefor is made solely with Capital Stock of any Parent Company or Capital Stock (other than Disqualified Capital Stock) of the Issuer or any Restricted Subsidiary, in each case, to the extent not resulting in a Change of Control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) (i) Investments of any Restricted Subsidiary acquired after the Closing Date, or of any Person acquired by, or merged into or consolidated or amalgamated with, the Issuer or any Restricted Subsidiary after the Closing Date, in each case as part of an Investment otherwise permitted by this <u>Section</u> <u>6.06</u> to the extent that such Investments were not made in contemplation of or in connection with such acquisition, merger, amalgamation or consolidation and were in existence on the date of the relevant acquisition, merger, amalgamation or consolidation (it being acknowledged and agreed that the "grandfathering" of Investments pursuant to this clause (o)(i) is not intended to limit the application of clause (b) of the definition of "Permitted Acquisition" to existing Investments in non-Note Parties acquired pursuant to a Permitted Acquisition) and (ii) any modification, replacement, renewal or extension of any Investment permitted under <u>clause (i)</u> of this <u>Section</u> <u>6.06(o)</u> so long as no such modification, replacement, renewal or extension thereof increases the amount of such Investment except as otherwise permitted by this <u>Section</u> <u>6.06</u> (in which case, such increase shall be required to be justified under one or more other exceptions to this <u>Section</u> <u>6.06</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Investments made in connection with the Transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Investments made after the Closing Date by the Issuer and/or any of its Restricted Subsidiaries in an aggregate amount at any time outstanding not to exceed:

&nbsp;&nbsp;&nbsp;&nbsp;&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) the greater of (x) $145,000,000 and (y) 40.0% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period; provided, that Investments made pursuant to this clause (q)(i) may not be made in any Unrestricted Subsidiary, *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;(ii) in the event that (A) the Issuer or any of its Restricted Subsidiaries makes any Investment after the Closing Date in any Person that is not a Restricted Subsidiary otherwise permitted hereunder and (B) such Person subsequently becomes a Restricted Subsidiary, an amount equal to 100.0% of the fair market value of such Investment as of the date on which such Person becomes a Restricted Subsidiary, to the extent that such amount is not included in the calculation of the Available Amount;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) so long as no Event of Default then exists or would result therefrom, Investments made after the Closing Date by the Issuer and/or any of its Restricted Subsidiaries in an aggregate outstanding amount not to exceed (i) the portion, if any, of the Available Amount on such date that such Issuer elects to apply to this <u>clause (r)(i)</u> *plus* (ii) the portion, if any, of the Available Excluded Contribution Amount on such date that such Issuer elects to apply to this <u>clause (r)(ii)</u> to the extent such amount has not otherwise been applied to make Investments, Restricted Payments or Restricted Debt Payments hereunder; <u>provided</u> that, in the case of <u>clause (r)(i)</u> above, the Total Leverage Ratio, calculated on a Pro Forma Basis, would not exceed 2.00:1.00;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) (i) Guarantees of leases (other than Capital Leases) or of other obligations not constituting Indebtedness and (ii) Guarantees of the lease obligations of suppliers, customers, franchisees and licensees of the Issuer and/or its Restricted Subsidiaries, in each case, 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;(t) Investments in any Parent Company in amounts and for purposes for which Restricted Payments to such Parent Company are permitted under <u>Section</u> <u>6.04(a)</u>; <u>provided</u> that any Investment made as provided above in lieu of any such Restricted Payment shall reduce availability under the applicable Restricted Payment basket under <u>Section</u> <u>6.04(a)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) Investments made by any Restricted Subsidiary that is not a Note Party with the proceeds received by such Restricted Subsidiary from an Investment made by any Note Party in such Restricted Subsidiary pursuant to this <u>Section</u> <u>6.06</u> (other than Investments made pursuant to <u>clause (ii)</u> of <u>Section</u> <u>6.06(e)</u> or <u>Section</u> <u>6.06(x)</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) [reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) Investments under any Derivative Transaction of the type permitted under <u>Section</u> <u>6.01(s)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) Investments made in connection with the creation, formation and/or acquisition of any joint venture or Unrestricted Subsidiary, or in any Restricted Subsidiary to enable such Restricted Subsidiary to create, form and/or acquire any joint venture or Unrestricted Subsidiary, in an aggregate outstanding amount not to exceed the greater of $72,500,000 and 20.0% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) Investments made in any joint venture existing on the Closing Date as required by, or made pursuant to, buy/sell arrangements between the joint venture parties set forth in joint venture agreements and similar binding arrangements in effect on the Closing Date (other than any modification, replacement, renewal or extension of such Investments so long as no such modification, renewal or extension thereof increases the amount of any such Investment except by the terms thereof or as otherwise permitted by this <u>Section</u> <u>6.06</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) unfunded pension fund and other employee benefit plan obligations and liabilities to the extent that they are permitted to remain unfunded under applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) Investments in the Issuer, any subsidiary and/or any joint venture in connection with intercompany cash management arrangements and related activities 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;(bb) Investments consisting of the licensing or contribution of IP Rights pursuant to joint marketing arrangements with other Persons in the ordinary of course of business;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) Investments consisting of Securitization Assets or arising as a result of Permitted Securitization Financings; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) other Investments as long as (i) no Event of Default then exists or would result therefrom and (ii) the Total Leverage Ratio does not exceed, calculated on a Pro Forma Basis, would not exceed 1.50:1.00.

For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested (with respect to any investment made other than in the form of cash or Cash Equivalents valued at the fair market value thereof (as reasonably determined by the Issuer in good faith) at the time of the making thereof), without adjustment for subsequent increases or decreases in the value of such Investment, less any amount repaid, returned, distributed or otherwise received in respect of any Investment.

Notwithstanding the foregoing, no Investment (w) of any Material Asset may be made by the Issuer or any Restricted Subsidiary to an Unrestricted Subsidiary, (x) shall be made in any Unrestricted Subsidiary except under <u>Section</u> <u>6.06(x)</u> (it being understood, for the avoidance of doubt, that the amount of any such Investment shall be measured solely as of the date of any designation of such Unrestricted Subsidiary or any additional Investment therein, as applicable), (y) shall be made in any Non-Note Party except under the Non-Note Party Investment Baskets, and (z) other than with respect to any redesignation of an Unrestricted Subsidiary (which shall rebuild the baskets set forth above by up to the original amount of any such Investments in the applicable Unrestricted Subsidiary), there shall be no rebuilding of such baskets to the extent utilized for Investments in Unrestricted Subsidiaries or their respective Subsidiaries (including with proceeds received on account of any such transfer or returns on such Investments or otherwise) nor any reclassification of such Investments permitted in reliance on such baskets. 

Notwithstanding anything to the contrary set forth herein, this <u>Section</u> <u>6.06</u> is subject to the provisions set forth in <u>Section</u> <u>1.03(b)</u>.

Section 6.07 <u>Fundamental Changes; Disposition of Assets</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, enter into any transaction of merger, consolidation or amalgamation, or liquidate, wind up or dissolve themselves (or suffer any liquidation or dissolution), or make any Disposition, in a single transaction or in a series of related transactions, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any Restricted Subsidiary may be merged, consolidated or amalgamated with or into the Issuer or any other Restricted Subsidiary; <u>provided</u> that (i) in the case of any such merger, consolidation or amalgamation with or into the Issuer, such Issuer shall be the continuing or surviving Person and (ii) in the case of any such merger, consolidation or amalgamation with or into any Subsidiary Guarantor, either (x) such Subsidiary Guarantor shall be the continuing or surviving Person or the continuing or surviving Person shall expressly assume the guarantee obligations of the Subsidiary Guarantor in a manner reasonably satisfactory to the Administrative Agent or (y) the relevant transaction shall be treated as an Investment and shall comply with <u>Section</u> <u>6.06</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Dispositions (including of Capital Stock) among the Issuer and/or any Restricted Subsidiary (upon voluntary liquidation or otherwise); <u>provided</u> that any such Disposition by any Note Party to any Person that is not a Note Party shall be (i) for fair market value (as reasonably determined by such Person) with at least 75% of the consideration for such Disposition consisting of Cash or Cash Equivalents at the time of such Disposition or (ii) treated as an Investment and otherwise made in compliance with <u>Section</u> <u>6.06</u> (other than in reliance on <u>clause (j)</u> thereof); <u>provided</u>, <u>further</u>, that any such Disposition by any Note Party (whether as a single transaction or any series of transactions) to any Non-Qualified Note Party of any intellectual property that, individually or in the aggregate, is material to the business of the Issuer and their Restricted Subsidiaries, taken as a whole, shall be treated as an Investment and otherwise made in compliance with <u>Section</u> <u>6.06</u> (other than in reliance on <u>clauses (b)(ii)</u> or <u>(j)</u> thereof);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) (i) the liquidation or dissolution of any Restricted Subsidiary if the Issuer determines in good faith that such liquidation or dissolution is in the best interests of the Issuer, is not materially disadvantageous to the Holders and the Issuer or any Restricted Subsidiary receives any assets of the relevant dissolved or liquidated Restricted Subsidiary; <u>provided</u> that in the case of any liquidation or dissolution of any Note Party that results in a distribution of assets to any Restricted Subsidiary that is not a Note Party, such distribution shall be treated as an Investment and shall comply with <u>Section</u> <u>6.06</u> (other than in reliance on <u>clause (j)</u> thereof); (ii) any merger, amalgamation, dissolution, liquidation or consolidation, the purpose of which is to effect (A) any Disposition otherwise permitted under this <u>Section</u> <u>6.07</u> (other than <u>clause (a)</u>, <u>clause (b)</u> or this <u>clause (c)</u>) or (B) any Investment permitted under <u>Section</u> <u>6.06</u> (other than in reliance on <u>clause (j)</u> thereof); and (iii) any Restricted Subsidiary (other than the Issuer) may be converted into another form of entity, in each case, so long as such conversion does not adversely affect the value of the Note Guaranty or Collateral, if any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) (x) Dispositions of inventory or equipment in the ordinary course of business (including on an intercompany basis) and (y) the leasing or subleasing of real property 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;(e) Dispositions of surplus, obsolete, used or worn out property or other property that, in the reasonable judgment of the Issuer, is (A) no longer useful in its business (or in the business of any Restricted Subsidiary of such Issuer) or (B) otherwise economically impracticable to maintain;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Dispositions of Cash Equivalents or other assets that were Cash Equivalents when the relevant original Investment was made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Dispositions, mergers, amalgamations, consolidations or conveyances that constitute Investments permitted pursuant to <u>Section</u> <u>6.06</u> (other than <u>Section</u> <u>6.06(j)</u>), Permitted Liens, Restricted Payments permitted by <u>Section</u> <u>6.04(a)</u> (other than <u>Section</u> <u>6.04(a)(ix)</u>) and Sale and Lease-Back Transactions permitted by <u>Section</u> <u>6.08</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Dispositions for fair market value; <u>provided</u> that with respect to any such Disposition with a purchase price in excess of the greater of $10,000,000 at least 75% of the consideration for such Disposition shall consist of Cash or Cash Equivalents (<u>provided</u> that for purposes of the 75% Cash consideration requirement, (w) the amount of any Indebtedness or other liabilities (other than Indebtedness or other liabilities that are subordinated to the Obligations or that are owed to the Issuer or any Restricted Subsidiary) of the Issuer or any Restricted Subsidiary (as shown on such Person's most recent balance sheet or statement of financial position (or in the notes thereto) that are assumed by the transferee of any such assets and for which the Issuer and/or its applicable Restricted Subsidiary have been validly released by all relevant creditors in writing, (x) the amount of any trade-in value applied to the purchase price of any replacement assets acquired in connection with such Disposition, (y) any Securities received by the Issuer or any Restricted Subsidiary from such transferee that are converted by such Person into Cash or Cash Equivalents (to the extent of the Cash or Cash Equivalents received) within 180 days following the closing of the applicable Disposition and (z) any Designated Non-Cash Consideration received in respect of such Disposition having an aggregate fair market value, taken together with all other Designated Non-Cash Consideration received pursuant to this <u>clause (z)</u> that is at that time outstanding, not in excess of the greater of (i) $20,000,000 and (ii) 10.0% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period, in each case, shall be deemed to be Cash); <u>provided</u>, <u>further</u>, that (x) immediately prior to and after giving effect to such Disposition, as determined on the date on which the agreement governing such Disposition is executed, no Event of Default shall exist and (y) the Net Proceeds of such Disposition shall be applied and/or reinvested as (and to the extent) required by <u>Section</u> <u>2.11(b)(ii)</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;(i) to the extent that (i) the relevant property is exchanged for credit against the purchase price of similar replacement property or (ii) the proceeds of the relevant Disposition are promptly applied to the purchase price of such replacement property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Dispositions of Investments in joint ventures to the extent required by, or made pursuant to, buy/sell arrangements between joint venture or similar parties set forth in the relevant joint venture arrangements and/or similar binding arrangements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Dispositions of accounts receivable in the ordinary course of business (including any discount and/or forgiveness thereof and any factoring or similar arrangement) or in connection with the collection or compromise thereof (other than in connection with a Permitted Securitization Financing);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Dispositions and/or terminations of leases, subleases, licenses or sublicenses (including the provision of software under any open source license), which (i) do not materially interfere with the business of the Issuer and their Restricted Subsidiaries or (ii) relate to closed facilities or the discontinuation of any product line;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) (i) any termination of any lease in the ordinary course of business, (ii) any expiration of any option agreement in respect of real or personal property and (iii) any surrender or waiver of contractual rights or the settlement, release or surrender of contractual rights or litigation claims (including in tort) 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;(n) Dispositions of property subject to foreclosure, casualty, eminent domain or condemnation proceedings (including in lieu thereof or any similar proceeding);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Dispositions or consignments of equipment, inventory or other assets (including leasehold interests in real property) with respect to facilities that are temporarily not in use, held for sale or closed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Dispositions in connection with the Transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Dispositions of non-core assets acquired in connection with any acquisition permitted hereunder and sales of Real Estate Assets acquired in any acquisition permitted hereunder which, within 90 days of the date of such acquisition, are designated in writing to the Administrative Agent as being held for sale and not for the continued operation of the Issuer or any of their Restricted Subsidiaries or any of their respective businesses; <u>provided</u> that (i) the Net Proceeds received in connection with any such Disposition shall be applied and/or reinvested as (and to the extent required) by <u>Section</u> <u>2.11(b)(ii)</u> and (ii) no Event of Default exists on the date on which the definitive agreement governing the relevant Disposition is executed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) exchanges or swaps, including transactions covered by Section 1031 of the Code (or any comparable provision of any foreign jurisdiction), of property or assets so long as any such exchange or swap is made for fair value (as reasonably determined by the Issuer) for like property or assets; <u>provided</u> that (i) upon the consummation of any such exchange or swap by any Note Party, to the extent the property received does not constitute an Excluded Asset, the Administrative Agent has a perfected Lien with the same priority as the Lien held on the Real Estate Assets so exchanged or swapped and (ii) any Net Proceeds received as "cash boot" in connection with any such transaction shall be applied and/or reinvested as (and to the extent required) by <u>Section</u> <u>2.11(b)(ii)</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;(s) the purchase and Disposition (including by capital contribution) of Securitization Assets including pursuant to Permitted Securitization Financings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) (i) licensing and cross-licensing arrangements involving any technology, intellectual property or IP Rights of the Issuer or any Restricted Subsidiary in the ordinary course of business and (ii) Dispositions, abandonments, cancellations or lapses of IP Rights, or issuances or registrations, or applications for issuances or registrations, of IP Rights, which, in the reasonable good faith determination of the Issuer, are not material to the conduct of the business of the Issuer or their Restricted Subsidiaries, or are no longer economical to maintain in light of its use;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) terminations or unwinds of Derivative Transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Dispositions of Capital Stock of, or sales of Indebtedness or other Securities of, Unrestricted Subsidiaries so long as (i) no Default or Event of Default then exists or would result therefrom (ii) substantially all of the assets of such Unrestricted Subsidiary does not consist of Cash, Cash Equivalents and/or assets that were contributed and/or otherwise transferred to such Unrestricted Subsidiary by the Issuer or any Restricted Subsidiary in the form of one or more Investments and (iii) the fair market value of the Capital Stock in such Unrestricted Subsidiary does not exceed 10% of Consolidated Adjusted EBITDA as of the most recently ended Test Period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) Dispositions of Real Estate Assets and related assets in the ordinary course of business in connection with relocation activities for directors, officers, employees, members of management, managers or consultants of any Parent Company, the Issuer and/or any Restricted Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) Dispositions made to comply with any order of any agency of the U.S. Federal government, any state, authority or other regulatory body or any applicable Requirement of Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) any merger, consolidation, Disposition or conveyance the sole purpose of which is to reincorporate or reorganize any Domestic Subsidiary in another jurisdiction in the U.S.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) other Dispositions not in excess of the greater of (1) (i) $8,500,000 and (ii) 2.0% of Consolidated Adjusted EBITDA for the Test Period then most recently ended for any individual Disposition made under this clause (z) and (2) (i) $17,000,000 and (ii) 5.0% of Consolidated Adjusted EBITDA for the Test Period then most recently ended in the aggregate for all Dispositions made under this clause (z);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) any sale of motor vehicles and information technology equipment purchased at the end of an operating lease and resold thereafter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) [Reserved]; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) Dispositions contemplated on the Closing Date and described on <u>Schedule</u> <u>6.07</u>.

Notwithstanding anything herein to the contrary, (x) the only baskets available for Investments made in, or Dispositions or Restricted Payments to, Unrestricted Subsidiaries and their respective Subsidiaries and designations of Unrestricted Subsidiaries shall be <u>Section</u> <u>6.06(x)</u> (it being understood, for the avoidance of doubt, that the amount of any such Investment shall be measured solely as of the date of any designation of such Unrestricted Subsidiary or any additional Investment therein, as applicable) and (y) neither the Issuer nor any other Restricted Subsidiary shall sell, transfer, lease or otherwise dispose of any material Intellectual Property to any Unrestricted Subsidiary (with any such attempted transfer void *ab initio*).

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Section 6.08 <u>Sale and Lease-Back Transactions</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, directly or indirectly, become or remain liable as lessee or as a guarantor or other surety with respect to any lease of any property (whether real, personal or mixed), whether now owned or hereafter acquired, which such Issuer or the relevant Restricted Subsidiary (a) has sold or transferred or is to sell or to transfer to any other Person (other than the Issuer or any of its Restricted Subsidiaries) and (b) intends to use for substantially the same purpose as the property which has been or is to be sold or transferred by such Issuer or such Restricted Subsidiary to any Person (other than the Issuer or any of its Restricted Subsidiaries) in connection with such lease (such a transaction described herein, a "**Sale and Lease-Back Transaction**"); <u>provided</u> that any Sale and Lease-Back Transaction shall be permitted so long as the Net Proceeds of such Disposition are applied and/or reinvested as (and to the extent) required by <u>Section</u> <u>2.11(b)(ii)</u> and such Sale and Lease-Back Transaction is (A) permitted by <u>Section</u> <u>6.01(m)</u> or (B)(1) made in exchange for cash consideration, (2) such Issuer or its applicable Restricted Subsidiary would otherwise be permitted to enter into, and remain liable under, the applicable underlying lease and (3) the aggregate fair market value of the assets sold subject to all Sale and Lease-Back Transactions under this <u>clause (B)</u> shall not exceed the greater of (i) $145,000,000 and (ii) 40.0% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period.

Section 6.09 <u>Transactions with Affiliates</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, enter into any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any of their respective Affiliates on terms that are less favorable to such Issuer or such Restricted Subsidiary, as the case may be (as reasonably determined by the Issuer), than those that might be obtained at the time in a comparable arm's-length transaction from a Person who is not an Affiliate; <u>provided</u> that the foregoing restriction shall not apply to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any transaction between or among the Issuer and/or one or more Restricted Subsidiaries (or any entity that becomes a Restricted Subsidiary as a result of such transaction) to the extent permitted or not restricted by this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any issuance, sale or grant of securities or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of employment arrangements, stock options and stock ownership plans approved by the board of directors (or equivalent governing body) of any Parent Company or of the Issuer or any Restricted Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) (i) any collective bargaining, employment or severance agreement or compensatory (including profit sharing) arrangement entered into by the Issuer or any of its Restricted Subsidiaries with their respective current or former officers, directors, members of management, managers, employees, consultants or independent contractors or those of any Parent Company, (ii) any subscription agreement or similar agreement pertaining to the repurchase of Capital Stock pursuant to put/call rights or similar rights with current or former officers, directors, members of management, managers, employees, consultants or independent contractors and (iii) transactions pursuant to any employee compensation, benefit plan, stock option plan or arrangement, any health, disability or similar insurance plan which covers current or former officers, directors, members of management, managers, employees, consultants or independent contractors or any employment contract or arrangement;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) (i) transactions permitted by <u>Sections</u> <u>6.01(d)</u>, <u>(o)</u>, <u>(bb)</u> and <u>(ee)</u>, <u>6.04</u> and <u>6.06(h)</u>, <u>(m)</u>, <u>(q)</u>, <u>(t)</u>, <u>(v)</u>, <u>(x)</u>, <u>(y)</u>, <u>(z)</u>, <u>(aa)</u> and (<u>cc</u>) and <u>(ii)</u> issuances of Capital Stock not restricted by this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) transactions in existence on the Closing Date and any amendment, modification or extension thereof to the extent such amendment, modification or extension, taken as a whole, is not (i) materially adverse to the Holders or (ii) more disadvantageous to the Holders than the relevant transaction in existence on the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) [Reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the Transactions, including the payment of Transaction Costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) customary compensation to Affiliates in connection with financial advisory, financing, underwriting or placement services or in respect of other investment banking activities and other transaction fees, which payments are approved by the majority of the members of the board of directors (or similar governing body) or a majority of the disinterested members of the board of directors (or similar governing body) of the Issuer in good faith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Guarantees permitted by <u>Section</u> <u>6.01</u> or <u>Section</u> <u>6.06</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) loans and other transactions among the Note Parties to the extent permitted under this <u>Article 6</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) the payment of customary fees and reasonable out-of-pocket costs to, and indemnities provided on behalf of, members of the board of directors (or similar governing body), officers, employees, members of management, managers, consultants and independent contractors of the Issuer and/or any of its Restricted Subsidiaries in the ordinary course of business and, in the case of payments to such Person in such capacity on behalf of any Parent Company, to the extent attributable to the operations of the Issuer or its Restricted Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) transactions with customers, clients, suppliers, joint ventures, purchasers or sellers of goods or services or providers of employees or other labor entered into in the ordinary course of business, which are (i) fair to the Issuer and/or its applicable Restricted Subsidiary in the good faith determination of the board of directors (or similar governing body) of such Issuer or the senior management thereof or (ii) on terms at least as favorable as might reasonably be obtained from a Person other than an Affiliate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) the payment of reasonable out-of-pocket costs and expenses related to registration rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) [Reserved]; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) any transaction in respect of which the Issuer delivers to the Administrative Agent a letter addressed to the board of directors (or equivalent governing body) of such Issuer from an accounting, appraisal or investment banking firm of nationally recognized standing stating that such transaction is on terms that are no less favorable to such Issuer or the applicable Restricted Subsidiary than might be obtained at the time in a comparable arm's length transaction from a Person who is not an Affiliate.

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Section 6.10 <u>Conduct of Business</u>.

From and after the Closing Date, no Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, engage in any material line of business other than (a) the businesses engaged in by the Issuer or any Restricted Subsidiary on the Closing Date and similar, complementary, ancillary or related businesses and, in the case of a Special Purpose Securitization Subsidiary, Permitted Securitization Financings and (b) such other lines of business to which the Required Holders may consent.

Section 6.11 <u>Amendments or Waivers of Organizational Documents</u>. No Issuer shall, nor shall it permit any Subsidiary Guarantor to, amend or modify their respective Organizational Documents, in each case in a manner that is materially adverse to the Holders (in their capacities as such) without obtaining the prior written consent of the Required Holders; <u>provided</u> that, for purposes of clarity, it is understood and agreed that the Issuer and/or any Subsidiary Guarantor may effect a change to its organizational form and/or consummate any other transaction that is permitted under <u>Section</u> <u>6.07</u>.

Section 6.12 <u>Amendments of or Waivers with Respect to Certain Debt</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, amend or otherwise modify the terms of any Restricted Debt (or the documentation governing or evidencing the foregoing) if the effect of such amendment or modification, together with all other amendments or modifications made, is materially adverse to the interests of the Holders (in their capacities as such); <u>provided</u> that, for purposes of clarity, it is understood and agreed that the foregoing limitation shall not otherwise prohibit any Refinancing Indebtedness or any other replacement, refinancing, amendment, supplement, modification, extension, renewal, restatement or refunding of any Junior Indebtedness, in each case, that is permitted under this Agreement in respect thereof.

Section 6.13 <u>Fiscal Year</u>. The Issuer shall not change their Fiscal Year-end to a date other than December 31; <u>provided</u>, that, the Issuer may, upon written notice to the Administrative Agent, change the Fiscal Year-end of the Issuer to another date, in which case the Issuer and the Administrative Agent will, and are hereby authorized to, make any adjustments to this Agreement that are necessary to reflect such change in Fiscal Year.

Section 6.14 <u>Financial Covenants; Curative Equity</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Total Leverage Ratio</u>. The Issuer shall not permit the Total Leverage Ratio, measured as of the last day of each fiscal quarter, to be greater than the ratio set forth in the table below with respect to such fiscal quarter:

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| | |
|:---|:---|
| **Fiscal Quarter** | **Ratio** |
| December 31, 2024 through September 30, 2026 | 3.00 to 1.00 |
| December 31, 2026 and thereafter | 2.50 to 1.00 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Interest Coverage Ratio</u>. The Issuer shall not permit the Interest Coverage Ratio, measured as of the last day of each fiscal quarter, to be less than 2.50 to 1.00.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Curative Equity</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;(i) Subject to the limitations set forth in <u>Section</u> <u>6.14(c)(ii)</u>, Issuer may cure (and will be deemed to have cured) an Event of Default arising out of a breach of any of the financial covenant set forth in <u>Section</u> <u>6.14(a)</u> or <u>(b)</u> (each such financial covenant, a "<u>Specified Financial Covenant</u>"; each such Event of Default, a "<u>Specified Financial Covenant Default</u>") if Issuer receive the cash proceeds of Curative Equity within 10 Business Days after the delivery of the Compliance Certificate (or the date such Compliance Certificate is required to be delivered) as to which the applicable Specified Financial Covenant is required to be reported for the applicable Computation Period pursuant to 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;(ii) Upon delivery of a certificate by Issuer to Administrative Agent certifying as to the amount of the proceeds of any Curative Equity and prepayment of the Term Notes in accordance with <u>Section</u> <u>2.11((b)(iv)</u>, then each applicable Specified Financial Covenant Default will be deemed cured with no further action required by the Required Holders. Before the date of the delivery of that certificate, any Specified Financial Covenant Default that has occurred and is continuing will be deemed to be continuing, and, as a result, the Holders will have no obligation to make additional notes or otherwise extend additional credit under this Agreement. If Issuer do not cure a Specified Financial Covenant Default as provided in this <u>Section</u> <u>6.14(c)</u>, then that Specified Financial Covenant Default will continue unless waived in writing by the Required Holders in accordance with 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;(iii) To the extent that proceeds of Curative Equity are received with respect to any Fiscal Quarter, those proceeds will be deemed to be Consolidated Adjusted EBITDA for purposes of determining compliance with the Specified Financial Covenants for that Fiscal Quarter and subsequent periods that include that Fiscal Quarter. Notwithstanding any provision of this Agreement to the contrary, (A) Issuer' rights under this <u>Section</u> <u>6.14(c)</u> (x) may be exercised no more than five times during the term of this Agreement, (y) may be exercised no more than twice in any period of four Fiscal Quarters and (z) may not be exercised in consecutive Fiscal Quarters; (B) the amount of proceeds of any Curative Equity may not be greater than the amount required to cause Issuer to be in compliance with each applicable Specified Financial Covenant as at the end of the applicable Computation Period; (C) the proceeds of Curative Equity shall be immediately paid over to the Administrative Agent to be applied to pay down the Term Notes in accordance with <u>Section</u> <u>2.11((b)(iv)</u>; *provided that* such prepaid amounts shall be deemed to continue to be outstanding Term Notes for purposes of calculating Curative Equity and compliance with the Specified Financial Covenants for that Fiscal Quarter and any test period that includes such Fiscal Quarter; and (D) the proceeds of Curative Equity will be disregarded for purposes of determining Consolidated Adjusted EBITDA for any pricing, financial covenant-based conditions, or baskets with respect to the covenants contained in this Agreement and there will be no pro forma reduction in Indebtedness with the proceeds of any Curative Equity for determining compliance with the Specified Financial Covenants or for determining any pricing, financial covenant-based conditions, or baskets with respect to the covenants contained in this Agreement, in each case in the Fiscal Quarter in which that Curative Equity is used.

Section 6.15 <u>Holdings Covenant</u>.

With respect to Holdings, engage in any material operating or business activities; *<u>provided</u>* that the following and any activities incidental thereto shall be permitted in any event: (i) its ownership of the Equity Interests of RBP Global and its Subsidiaries and activities incidental thereto, including payment of dividends and other amounts in respect of its Equity Interests, (ii) the maintenance of its legal existence (including the ability to incur fees, costs and expenses relating to such maintenance), (iii) the performance of its obligations with respect to the Notes Documents and any other Indebtedness permitted under <u>Section</u> <u>6.01</u> to be incurred by the Issuer and the Restricted Subsidiaries, (iv) financing activities (including the issuance of securities, to the extent such financing activities and securities do not constitute Indebtedness), payment of dividends, making contributions to the capital of the Issuer and its other Subsidiaries and guaranteeing the obligations of the Issuer and its other Subsidiaries permitted hereunder, (v) participating in tax, accounting and other administrative matters as a member of the consolidated group of Holdings, the

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Issuer and their respective Subsidiaries, (vi) holding any cash or Cash Equivalents, (vii) providing indemnification to officers and directors, (viii) engaging professional advisors; (ix) ownership of Cash, Cash Equivalents, goodwill and intangible assets; (x) the making or issuance of Curative Equity, and (xi) any activities incidental to the foregoing. Holdings shall not directly own any Equity Interests other than those of RBP Global.

Section 6.16 <u>Material</u> <u>Asset Transactions</u>. Notwithstanding anything herein to the contrary, no transfers, Dispositions, "drop-down" transactions, exclusive licensing, asset swaps, asset exchange (including for cash and/or other assets), investments (including Investments) or any similar transactions (including, without limitation, by use of any equity (including preferred equity and similar instruments) contribution, securitization, Investment, Indebtedness, Restricted Debt Payment, Restricted Payment, Transaction with Affiliates, sale and leaseback transaction, Subsidiary Distribution, Restricted Subsidiaries and/or Unrestricted Subsidiaries provisions or permissions and/or any reclassification permissions under this Agreement) shall be permitted with respect to any Material Asset (each, a "**Material Asset Transaction**") unless (i) the relevant recipient, transferee, investee, exclusive licensee or acquirer (or any similar capacity) of such Material Asset subject to that Material Asset Transaction is (or becomes, no later than the date of completion of such Material Asset Transaction) a Note Party, (ii) such Material Asset Transaction is subject to arm's length terms and for fair market value, (iii) no Default or Event of Default has occurred and is continuing as of the date of completion of such Material Asset Transaction (or would result therefrom), (iv) the Administrative Agent is notified in writing of the contemplated Material Asset Transaction at least ten (10) Business Days prior to its completion (or, if earlier, at least ten (10) Business Days prior to the date of entry by the relevant Person into any binding documentation in respect of such Material Asset Transaction), and such notification includes reasonable details as to such Material Asset and Material Asset Transaction, and (v) where such Material Asset was subject to a Lien created under a Collateral Document, a similar Lien is granted by that Note Party prior to (or concurrently with) the completion of such transaction in favor of the Administrative Agent, for the benefit of itself and the other Secured Parties under a Collateral Document, and no release of the existing Lien shall be permitted until (unless concurrently) such new Lien is granted in favor of the Administrative Agent, for the benefit of itself and the other Secured Parties to secure the Secured Obligations.

Section 6.17 <u>Account Control Agreements.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The applicable Note Parties shall, by no later than the date falling sixty (60) days after the Closing Date (or such later date as the Administrative Agent shall agree to in writing), enter into a springing account control agreement, in form and substance reasonably satisfactory to the Administrative Agent (a "**Springing Account Control Agreement**"), with respect to the Original DACA Account and shall ensure that such Springing Account Control Agreement remains in place over such Original DACA Account at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Following the occurrence and during the continuance of a Material Event of Default, the Issuer and each of the Note Parties shall (i) not proceed with any transactions with respect to Deposit Accounts or Securities Accounts having an aggregate cash balance of $50,000,000 or more across all such accounts until Springing Account Control Agreements are entered into with respect to the relevant Deposit Account or Securities Accounts, and (ii) within ten (10) Business Days of such occurrence, enter into Springing Account Control Agreements in form and substance reasonably satisfactory to the Administrative Agent with respect to each Deposit Account and each Securities Account (excluding, in each case, any Excluded Account) as of the relevant date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) There shall be no less than one Deposit Account subject to a Springing Account Control Agreement at any time after the establishment of the initial Springing Account Control Agreement in accordance with Section 6.17(a).

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Section 6.18 <u>Other Obligations</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Issuer shall not, and not permit any other Note Party or any Affiliates or Related Fund to, directly or indirectly, pay or cause to be paid or permit any of their Affiliates or Related Fund to pay any consideration, whether by way of interest, fee or otherwise, to any Holder (excluding the Administrative Agent) in consideration for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Agreement or the Notes unless such consideration is concurrently offered to be paid or is concurrently paid to all Holders that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent, waiver or agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Issuer shall not make any offer or sale of securities of any class of any Note Party if, as a result of the doctrine of "integration" referred to in Rule 502 under the Securities Act, such offer or sale would render invalid (for the purpose of the sale of the Notes to the Holders) any applicable exemption from the registration requirements of the Securities Act provided by Section 4(2) thereof or otherwise.

ARTICLE 7

EVENTS OF DEFAULT

Section 7.01 <u>Events of Default</u>. If any of the following events (each, an "**Event of Default**") shall occur:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Failure To Make Payments When Due</u>. Failure by the Issuer to pay (i) any installment of principal of any Note when due, whether at stated maturity, by acceleration, by notice of voluntary prepayment, by mandatory prepayment or otherwise; or (ii) any interest on any Note or any fee or any other amount due hereunder within five Business Days after the date due; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Default in Other Agreements</u>. (i) Failure by any Note Party or any of its Restricted Subsidiaries or Holdings to pay when due any principal of or interest on or any other amount payable in respect of one or more items of Indebtedness (other than Indebtedness referred to in <u>clause (a)</u> above) with an aggregate outstanding principal amount exceeding the Threshold Amount, in each case beyond the grace period, if any, provided therefor; or (ii) breach or default by any Note Party or any of its Restricted Subsidiaries or Holdings with respect to any other term of (A) one or more items of Indebtedness with an aggregate outstanding principal amount exceeding the Threshold Amount or (B) any note purchase agreement, loan agreement, mortgage, indenture or other agreement relating to such item(s) of Indebtedness (other than, for the avoidance of doubt, with respect to Indebtedness consisting of Hedging Obligations, termination events or equivalent events pursuant to the terms of the relevant Hedge Agreement which are not the result of any default thereunder by any Note Party or any Restricted Subsidiary or Holdings), in each case beyond the grace period, if any, provided therefor, if the effect of such breach or default is to cause, or to permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause, such Indebtedness to become or be declared due and payable (or redeemable) prior to its stated maturity or the stated maturity of any underlying obligation, as the case may be; <u>provided</u> that <u>clause (ii)</u> of this <u>paragraph (b)</u> shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property securing such Indebtedness if such sale or transfer is permitted hereunder and under the documents governing or evidencing such Indebtedness, and so long as repayments are made as required by the terms of such Indebtedness; <u>provided</u>, <u>further</u>, that any failure described under <u>clause</u> <u>(i)</u> or <u>(ii)</u> above is unremedied and is not waived by the holders of such Indebtedness prior to any termination of the Commitments or acceleration of the Notes pursuant to <u>Article</u> <u>7</u> or other exercise of remedies under any Notes 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;(c) <u>Breach of Certain Covenants</u>. Failure of any Note Party, as required by the relevant provision, to perform or comply with any term or condition contained in <u>Section</u> <u>5.01(e)(i)</u>, <u>Section</u> <u>5.02</u> (as it applies to the preservation of the existence of Holdings or the Issuer), <u>Section</u> <u>5.16</u>, or <u>Article</u> <u>6</u> (subject, in the case of Section <u>6.14(a)</u> and (b), to Section <u>6.14(c)</u>); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Breach of Representations, Etc</u>. Any representation, warranty or certification made or deemed made by any Note Party or Holdings in any Notes Document or in any certificate required to be delivered in connection herewith or therewith (including, for the avoidance of doubt, any Perfection Certificate and any Perfection Certificate Supplement) being untrue in any material respect as of the date made or deemed made; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Other Defaults Under Notes Documents</u>. Default by any Note Party or Holdings in the performance of or compliance with any term contained herein or any of the other Notes Documents, other than any such term referred to in any other Section of this <u>Article 7</u>, which default has not been remedied or waived within 30 days after receipt by the Issuer of written notice thereof 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;(f) <u>Involuntary Bankruptcy; Appointment of Receiver, Etc</u>. (i) The entry by a court of competent jurisdiction of a decree or order for relief in respect of Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed (or the declaration of or any procedure or step is taken in relation to a moratorium in respect of the Indebtedness of any English Group Member or any Irish Group Member (other than an Immaterial Subsidiary)); or any other similar relief shall be granted under any applicable federal, state or local law; or (ii) the commencement of an involuntary case against Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) under any Debtor Relief Law; the entry by a court having jurisdiction in the premises of a decree or order for the appointment of (or in respect of any English Group Member, a Jersey Group Member (if any) or any Irish Group Member of, any corporate action, legal proceeding or other procedure or step is taken in relation to the appointment of) a receiver, an administrative receiver, an administrator, a receiver and manager, a compulsory manager, a (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian, examiner, process advisor or other officer having similar powers over Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary), or over all or a substantial part of its property, or (in respect of an English Group Member, a Jersey Group Member (if any) or an Irish Group Member (other than an Immaterial Subsidiary) the enforcement of any security over any of its assets); or the involuntary appointment of an interim receiver, trustee or other custodian of Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) for all or a substantial part of its property, which remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days, or, solely to the extent a Lux Note Party is a party to this Agreement, a Luxembourg Insolvency Event, shall have occurred with respect to any Lux Note Party, provided that, in the case of an involuntary filing for bankruptcy (*faillite*) or judicial liquidation (*liquidation forcée*), such proceeding shall have been undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Voluntary Bankruptcy; Appointment of Receiver, Etc</u>. (i) The entry against Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) of an order for relief, the commencement by Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) of a voluntary case under any Debtor Relief Law, or the consent by Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) to the entry of an order for relief in an involuntary case or to the conversion of an involuntary case to a voluntary case, under any Debtor Relief Law, or the consent by Holdings, the Issuer or any of their Restricted Subsidiaries (other than any Immaterial Subsidiary) to the appointment of or taking possession by a receiver, receiver and manager, trustee or other custodian for all or a substantial part of its property; (ii) the making by Holdings, the Issuer

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or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) of a general assignment for the benefit of creditors; (iii) any English Group Member, a Jersey Group Member (if any) or an Irish Group Member (other than any Immaterial Subsidiary) is unable to pay its debts as they fall due or is deemed to, or is declared to, be unable to pay its debts under English law, Jersey Law (if applicable) or Irish law as the case may be or suspends or resolves or declares in writing an intention to suspend making payments on any of its debts; or (iv) the admission by Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) in writing of their inability to pay their respective debts as such debts become due; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Judgments and Attachments</u>. The entry or filing of one or more (i) final money judgments, writs or warrants of attachment or similar process against Holdings, the Issuer or any of its Restricted Subsidiaries or any of their respective assets involving in the aggregate at any time an amount in excess of the Threshold Amount (in either case to the extent not adequately covered by self-insurance (if applicable) or by insurance as to which the relevant third party insurance company has been notified and not denied coverage), which judgment, writ, warrant or similar process remains unpaid, undischarged, unvacated, unbonded or unstayed pending appeal for a period of 60 days, or (ii) any final, unappealable judgments, writs or warrants of attachment or similar process (including judgments granting injunctive relief) against Holdings, the Issuer or any of its Restricted Subsidiaries or any of their respective assets which would have or would be reasonably likely to result in 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;(i) <u>Employee Benefit Plans</u>. The occurrence of one or more ERISA Events, which individually or in the aggregate result in liability of Holdings, the Issuer or any of its Restricted Subsidiaries in an aggregate amount which would reasonably be expected to result in 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;(j) <u>Change of Control</u>. The occurrence of a Change of Control; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Subordination</u>. The Obligations ceasing or the assertion in writing by any Note Party that the Obligations cease to constitute senior indebtedness under the subordination provisions of any document or instrument evidencing any permitted Subordinated Indebtedness in excess of the Threshold Amount or any such subordination provision being invalidated or otherwise ceasing, for any reason, to be valid, binding and enforceable obligations 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;(m) <u>Pensions</u>. The Pensions Regulator issues a Financial Support Direction or a Contribution Notice to any Parent Company or subsidiary thereof imposing liability on one or more Issuer in an aggregate amount which has or would reasonably be expected to have 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;(n) <u>Healthcare and Regulatory Events</u>. The occurrence of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&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) the voluntary withdrawal or institution of any action or proceeding by the FDA, the DEA, the US DHHS or any other Governmental Authority to order the withdrawal of any Product or Product category from the market or to enjoin Issuer, its Subsidiaries or any representative of Issuer or its Subsidiaries from manufacturing, marketing, selling or distributing any Product or Product category, where such withdrawal or injunction has or could reasonably be expected to result in 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;(ii) the institution of any action or proceeding by the FDA, the DEA, the US DHHS or any other Governmental Authority to revoke, suspend, reject, withdraw, limit, or restrict any Regulatory Required Permit held by Issuer, its Subsidiaries or any representative of Issuer or its Subsidiaries, which, in each case, has or could reasonably be expected to result in 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;(iii) the commencement of any enforcement action against Issuer, its Subsidiaries or any representative of Issuer or its Subsidiaries (with respect to the business of Issuer or its Subsidiaries) by the FDA, the DEA, the US DHHS or any other Governmental Authority which has 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;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the invalidation, revocation or lapse of any IP Rights of the Issuer or any of its Subsidiaries, prior to the end of the term of such IP Rights which, in each case, has 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;&nbsp;&nbsp;&nbsp;&nbsp;(v) the occurrence of adverse test results in connection with a Product which could result in 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;(vi) the failure of any of the Issuer or its Subsidiaries, as required by the relevant provision, to perform or comply with any term or condition contained in a Corporate Integrity Agreement which has 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;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the entering into a guilty plea to a felony or corporate crime by any of the Issuer or its Subsidiaries with any relevant 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;&nbsp;&nbsp;&nbsp;&nbsp;(viii) the removal of, or threat by the relevant Governmental Authority or Material Third Party Payor to remove, any of the Issuer or its Subsidiaries from any Material Third Party Payor Program; or

then, and in every such event (other than an event with respect to the Issuer (other than the Issuer, to the extent such event does not arise under a Debtor Relief Law of the U.S.) described in <u>clause (f)</u> or <u>(g)</u> of this Article) and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Holders shall, by notice to the Issuer, take any of the following actions, at the same or different times: (i) terminate the Variable Note Commitments, or any Additional Note Commitments, and thereupon such Commitments and/or Additional Note Commitments shall terminate immediately and (ii) declare the Notes 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 Notes so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Issuer 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 Issuer; <u>provided</u> that upon the occurrence of an event with respect to the Issuer (other than

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the Issuer, to the extent such event does not arise under a Debtor Relief Law of the U.S.) described in <u>clause (f)</u> or <u>(g)</u> of this Article, any such Commitments and/or Additional Note Commitments shall automatically terminate and the principal of the Notes then outstanding, together with accrued interest thereon and all fees and other obligations of the Issuer accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Issuer, in each case without further action of the Administrative Agent or any Holder. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent may, and at the request of the Required Holders shall, exercise any rights and remedies provided to the Administrative Agent under the Notes Documents or at law or equity, including all remedies provided under the UCC or any other applicable law. If Administrative Agent has received written notice from Issuer of Issuer' intent to cure a Specified Financial Covenant Default in accordance with <u>Section</u> <u>6.14(c)</u>, then Administrative Agent and the Required Holders may not exercise any the foregoing remedies in this <u>Section</u> <u>7.01</u> with respect to that Specified Financial Covenant Default until the earlier of (i) 10 Business Days after the day on which financial statements are required to be delivered for the applicable Test Period pursuant to <u>Section</u> <u>5.01(a)</u>, and (ii) the date that Administrative Agent receives notice Issuer will not cure that Specified Financial Covenant Default in accordance with <u>Section</u> <u>6.14(c)</u>.

ARTICLE 8

THE ADMINISTRATIVE AGENT

Each of the Holders hereby irrevocably appoints Piper Sandler Finance LLC (or any successor appointed pursuant hereto) as Administrative Agent and authorizes the Administrative Agent to take such actions on its behalf, including execution of the other Notes Documents, and to exercise such powers as are delegated to the Administrative Agent by the terms of the Notes Documents, together with such actions and powers as are reasonably incidental thereto.

The Administrative Agent shall act as security trustee in relation to the security created or evidenced by the English Security Documents, the Jersey Security Documents (if any) and the Irish Security Documents. Each Holder hereby authorizes the Administrative Agent to enter into each Security Trust Deed on its behalf. Each Person that becomes a Holder hereunder after the Closing Date hereby confirms that it shall be bound by the terms of the Security Trust Deeds on and from the date on which it becomes an Additional Purchaser as if it were an original Holder party thereto. In addition, each reference to the Administrative Agent in this <u>Article 8</u> (including in connection with any indemnification or exculpation provided herein for the benefit of the Administrative Agent) shall be deemed to apply to the Administrative Agent acting in its capacity as security trustee under the Security Trust Deeds.

Any Person serving as Administrative Agent hereunder shall have the same rights and powers in its capacity as a Holder as any other Holder and may exercise the same as though it were not the Administrative Agent, and the term "Holder" or "Holders" shall, unless otherwise expressly indicated, unless the context otherwise requires or unless such Person is in fact not a Holder, include each Person serving as Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with any Note Party or any subsidiary of any Note Party or other Affiliate thereof as if it were not the Administrative Agent hereunder. The Holders acknowledge that, pursuant to such activities, the Administrative Agent or its Affiliates may receive information regarding any Note Party or any of its Affiliates (including information that may be subject to confidentiality obligations in favor of such Note Party or such Affiliate) and acknowledge that the Administrative Agent shall not, except as expressly provided herein, be under any obligation to provide such information to them.

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The Administrative Agent shall not have any duties or obligations except those expressly set forth in the Notes Documents. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default exists, and the use of the term "agent" herein and in the other Notes Documents 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; it being understood that 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, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary power, except discretionary rights and powers that are expressly contemplated by the Notes Documents and which the Administrative Agent is required to exercise in writing as directed by the Required Holders or Required Variable Note Holders (or such other number or percentage of the Holders as shall be necessary under the relevant circumstances as provided in <u>Section</u> <u>9.02</u>); <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 Notes Document or applicable laws, and (c) except as expressly set forth in the Notes Documents, the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to Holdings, the Issuer or any of their Restricted Subsidiaries that is communicated to or obtained by the Person serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable to the Holders or any other Secured Party for any action taken or not taken by it with the consent or at the request of the Required Holders or Required Variable Note Holders (or such other number or percentage of the Holders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the relevant circumstances as provided in <u>Section</u> <u>9.02</u>) or in the absence of its own gross negligence or willful misconduct, as determined by the final, unappealable judgment of a court of competent jurisdiction, in connection with its duties expressly set forth herein. The Administrative Agent shall not be deemed to have knowledge of any Default or Event of Default unless and until written notice thereof is given to the Administrative Agent by the Issuer or any Holder, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Notes Document, (ii) the contents of any certificate, report or other document delivered hereunder or in connection with any Notes Document, (iii) the performance or observance of any covenant, agreement or other term or condition set forth in any Notes Document or the occurrence of any Default or Event of Default, (iv) the validity, enforceability, effectiveness or genuineness of any Notes Document or any other agreement, instrument or document, (v) the creation, perfection or priority of any Lien on the Collateral or the existence, value or sufficiency of the Collateral, (vi) the satisfaction of any condition set forth in <u>Article 4</u> or elsewhere in any Notes Document, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent or (vii) any property, book or record of any Note Party or any Affiliate thereof.

If any Holder acquires knowledge of a Default or Event of Default, it shall promptly notify the Administrative Agent and the other Holders thereof in writing. Each Holder agrees that, except with the written consent of the Administrative Agent, it will not take any enforcement action hereunder or under any other Notes Document, accelerate the Obligations under any Notes Document, or exercise any right that it might otherwise have under applicable law or otherwise to credit bid at any foreclosure sale, UCC sale, any sale under Section 363 of the Bankruptcy Code or other similar Dispositions of Collateral. Notwithstanding the foregoing, however, a Holder may take action to preserve or enforce its rights against a Note Party where a deadline or limitation period is applicable that would, absent such action, bar enforcement of the Obligations held by such Holder, including the filing of a proof of claim in a case under the Bankruptcy Code.

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Notwithstanding anything to the contrary contained herein or in any of the other Notes Documents, each Issuer, the Administrative Agent and each Secured Party agree that (i) no Secured Party shall have any right individually to realize upon any of the Collateral or to enforce the Note Guaranty; it being understood and agreed that all powers, rights and remedies hereunder may be exercised solely by, the Administrative Agent, on behalf of the Secured Parties in accordance with the terms hereof and all powers, rights and remedies under the other Notes Documents may be exercised solely by, the Administrative Agent, and (ii) in the event of a foreclosure by the Administrative Agent on any of the Collateral pursuant to a public or private sale or in the event of any other Disposition (including pursuant to Section 363 of the Bankruptcy Code or any other applicable law), (A) the Administrative Agent, as agent for and representative of the Secured Parties, shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such sale, to use and apply any of the Obligations as a credit on account of the purchase price for any Collateral payable by the Administrative Agent at such Disposition and (B) the Administrative Agent or any Holder may be the purchaser or licensor of any or all of such Collateral at any such Disposition.

No holder of any Secured Hedging Obligation or Banking Services Obligation in its respective capacity as such shall have any rights in connection with the management or release of any Collateral or of the obligations of any Note Party under this Agreement.

Each of the Holders hereby irrevocably authorizes (and by entering into a Hedge Agreement with respect to any Secured Hedging Obligation and/or by entering into documentation in connection with, or otherwise providing, any Banking Services Obligation, each of the other Secured Parties hereby authorizes and shall be deemed to authorize) the Administrative Agent, on behalf of all Secured Parties to take any of the following actions upon the instruction of the Required Holders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) consent to the Disposition of all or any portion of the Collateral free and clear of the Liens securing the Secured Obligations in connection with any Disposition pursuant to the applicable provisions of the Bankruptcy Code, including Section 363 thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) credit bid all or any portion of the Secured Obligations, or purchase all or any portion of the Collateral (in each case, either directly or through one or more acquisition vehicles), in connection with any Disposition of all or any portion of the Collateral pursuant to the applicable provisions of the Bankruptcy Code, including under Section 363 thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) credit bid all or any portion of the Secured Obligations, or purchase all or any portion of the Collateral (in each case, either directly or through one or more acquisition vehicles), in connection with any Disposition of all or any portion of the Collateral pursuant to the applicable provisions of the UCC, including pursuant to Sections 9-610 or 9-620 of the UCC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) credit bid all or any portion of the Secured Obligations, or purchase all or any portion of the Collateral (in each case, either directly or through one or more acquisition vehicles), in connection with any foreclosure or other Disposition conducted in accordance with applicable law following the occurrence of an Event of Default, including by power of sale, judicial action or otherwise; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) estimate the amount of any contingent or unliquidated Secured Obligations of such Holder or other Secured Party; <u>provided</u> that, in the case of a Secured Hedging Obligation, the Administrative Agent shall be entitled to rely upon (without any further investigation) the termination or mark-to-market value, if any, provided to the Administrative Agent by the relevant counterparty;

it being understood that no Holder shall be required to fund any amount in connection with any purchase of all or any portion of the Collateral by the Administrative Agent pursuant to the foregoing <u>clause</u> <u>(b)</u>, <u>(c)</u> or <u>(d)</u> without its prior written consent.

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Each Secured Party agrees that the Administrative Agent is under no obligation to credit bid any part of the Secured Obligations or to purchase or retain or acquire any portion of the Collateral; <u>provided</u> that, in connection with any credit bid or purchase described under <u>clause</u> <u>(b)</u>, <u>(c)</u> or <u>(d)</u> of the preceding paragraph, the Secured Obligations owed to all of the Secured Parties (other than with respect to contingent or unliquidated liabilities as set forth in the next succeeding paragraph) may be, and shall be, credit bid by the Administrative Agent on a ratable basis.

With respect to each contingent or unliquidated claim that is a Secured Obligation, the Administrative Agent is hereby authorized, but is not required, to estimate the amount thereof for purposes of any credit bid or purchase described in the second preceding paragraph so long as the estimation of the amount or liquidation of such claim would not unduly delay the ability of the Administrative Agent to credit bid the Secured Obligations or purchase the Collateral in the relevant Disposition. In the event that the Administrative Agent, in its sole and absolute discretion, elects not to estimate any such contingent or unliquidated claim or any such claim cannot be estimated without unduly delaying the ability of the Administrative Agent to consummate any credit bid or purchase in accordance with the second preceding paragraph, then any contingent or unliquidated claims not so estimated shall be disregarded, shall not be credit bid, and shall not be entitled to any interest in the portion or the entirety of the Collateral purchased by means of such credit bid.

Each Secured Party whose Secured Obligations are credit bid under <u>clause</u> <u>(b)</u>, <u>(c)</u> or <u>(d)</u> of the third preceding paragraph shall be entitled to receive interests in the Collateral or any other asset acquired in connection with such credit bid (or in the Capital Stock of the acquisition vehicle or vehicles that are used to consummate such acquisition) on a ratable basis in accordance with the percentage obtained by dividing (x) the amount of the Secured Obligations of such Secured Party that were credit bid in such credit bid or other Disposition, by (y) the aggregate amount of all Secured Obligations that were credit bid in such credit bid or other Disposition.

In addition, in case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Note Party, each Secured Party agrees that the Administrative Agent (irrespective of whether the principal of any Note is then 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 Issuer) 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;(i) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Notes and all other Secured 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 Holders and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Holders and the Administrative Agent and their respective agents and counsel and all other amounts to the extent due to the Holders and the Administrative Agent under <u>Sections 2.12</u> and <u>9.03</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;(ii) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same, and if the Administrative Agent collects or receives any money or other property payable or deliverable on other claims of Secured Parties, to distribute the same to such Secured Parties as their interests may appear hereunder.

Any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Administrative Agent and, in the event that the Administrative Agent consents to the making of such payments directly to the Holders, 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 amount due to the Administrative Agent under <u>Sections</u> <u>2.12</u> and <u>9.03</u>.

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

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 Note, that by its terms must be fulfilled to the satisfaction of a Holder, the Administrative Agent may presume that such condition is satisfactory to such Holder unless the Administrative Agent has received notice to the contrary from such Holder prior to the making of such Note. The Administrative Agent may consult with legal counsel (who may be counsel for any Note Parties), 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 Administrative Agent may perform any and all of its duties and exercise its rights and powers by or through any one or more sub-agents appointed by it. The Administrative Agent and any such sub-agent may perform any and all of their respective duties and exercise their respective rights and powers through their respective Related Parties.

The Administrative Agent may resign at any time by giving ten days' written notice to the Holders and the Issuer. If the Administrative Agent becomes subject to an insolvency proceeding, either the Required Holders or the Issuer may, upon ten days' notice, remove the Administrative Agent. Upon receipt of any such notice of resignation or delivery of any such notice of removal, the Required Holders shall have the right, with the consent of the Issuer (not to be unreasonably withheld or delayed), to appoint a successor Administrative Agent which shall be a commercial bank or trust company with offices in the U.S. having combined capital and surplus in excess of $1,000,000,000; <u>provided</u> that during the existence and continuation of an Event of Default under <u>Section</u> <u>7.01(a)</u> or, with respect to Holdings or the Issuer, <u>Section</u> <u>7.01(f)</u> or <u>(g)</u>, no consent of the Issuer shall be required. If no successor shall have been appointed as provided above and accepted such appointment within ten days after the retiring Administrative Agent gives notice of its resignation or the Administrative Agent receives notice of removal, then (a) in the case of a retirement, the retiring Administrative Agent may (but shall not be obligated to), on behalf of the Holders, appoint a successor Administrative Agent meeting the qualifications set forth above (including, for the avoidance of doubt, consent of the Issuer, to the extent required) or (b) in the case of a removal, the Issuer may, after consulting with the Required Holders, appoint a successor Administrative Agent meeting the qualifications set forth above; <u>provided</u> that (x) in the case of a retirement, if the Administrative Agent notifies the Issuer and the Holders that no qualifying Person has accepted such appointment or (y) in the case of a removal, the Issuer notifies the Required Holders that no qualifying Person has accepted such appointment, then, in each case, such resignation or removal shall nonetheless become effective in accordance with and on the 30th day following delivery of such notice and (i) the retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Notes Documents (except that in the case of any collateral security held by the Administrative Agent in its capacity as collateral agent for the Secured Parties for perfection purposes, the retiring or removed Administrative Agent shall continue to hold such collateral security until such time as a successor

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Administrative Agent is appointed) and (ii) all payments, communications and determinations required to be made by, to or through the Administrative Agent shall instead be made by or to each Holder directly (and each Holder will cooperate with the Issuer to enable the Issuer to take such actions), until such time as the Required Holders or the Issuer, as applicable, appoint a successor Administrative Agent, as provided for above in this <u>Article 8</u>. Upon the acceptance of its appointment as Administrative Agent hereunder as a successor Administrative Agent, such successor Administrative Agent shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring or removed Administrative Agent (other than any rights to indemnity payments owed to the retiring Administrative Agent), and the retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder (other than its obligations under <u>Section</u> <u>9.13</u>). The fees payable by the Issuer to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Issuer and such successor Administrative Agent. After the Administrative Agent's resignation or removal hereunder, the provisions of this Article and <u>Section</u> <u>9.03</u> shall continue in effect for the benefit of such retiring or removed Administrative Agent, its sub-agents and their respective Related Parties in respect of any action taken or omitted to be taken by any of them while the relevant Person was acting as Administrative Agent (including for this purpose holding any collateral security following the retirement or removal of the Administrative Agent). Notwithstanding anything to the contrary herein, no Disqualified Institution (nor any Affiliate thereof) may be appointed as a successor Administrative Agent.

Each Holder acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Holder or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Holder also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Holder 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 Notes Document or related agreement or any document furnished hereunder or thereunder. Except for notices, reports and other documents expressly required to be furnished to the Holders by the Administrative Agent herein, the Administrative Agent shall not have any duty or responsibility to provide any Holder with any credit or other information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any of the Note Parties or any of their respective Affiliates which may come into the possession of the Administrative Agent or any of its Related Parties.

Notwithstanding anything to the contrary herein, the Administrative Agent shall not have any right, power, obligation, liability, responsibility or duty under this Agreement, except in their respective capacities as the Administrative Agent or a Holder hereunder, as applicable.

Each Secured Party irrevocably authorizes and instructs the Administrative Agent to, and the Administrative Agent shall,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) release any Lien on any property granted to or held by Administrative Agent under any Notes Document (i) upon the occurrence of the Termination Date, (ii) that is sold or transferred as part of or in connection with any Disposition permitted under the Notes Documents to a Person that is not, or is not required to become, a Note Party, (iii) that does not constitute (or ceases to constitute) Collateral, (iv) if the property subject to such Lien is owned by a Subsidiary Guarantor, upon the release of such Subsidiary Guarantor from its Note Guaranty otherwise in accordance with the Notes Documents or (v) if approved, authorized or ratified in writing by the Required Holders (or all Holders, as required) in accordance with <u>Section</u> <u>9.02</u>;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) subject to <u>Section</u> <u>9.21</u>, release any Subsidiary Guarantor from its obligations under the Note Guaranty if such Person ceases to be a Restricted Subsidiary (or becomes an Excluded Subsidiary as a result of a single transaction or series of related transactions permitted hereunder; <u>provided</u> that the release of any Subsidiary Guarantor from its obligations under the Note Guaranty if such Subsidiary Guarantor becomes an Excluded Subsidiary of the type described in <u>clause (a)</u> of the definition thereof shall only be permitted if at the time such Guarantor becomes an Excluded Subsidiary of such type (1) no Event of Default exists, (2) after giving pro forma effect to such release and the consummation of the transaction that causes such Person to be an Excluded Subsidiary of such type, the applicable Issuer is deemed to have made a new Investment in such Person for purposes of <u>Section</u> <u>6.06</u> (as if such Person were then newly acquired) in an amount equal to the portion of the fair market value of the net assets of such Person attributable to such Issuer's equity interest therein as reasonably estimated by the applicable Issuer and such Investment is permitted pursuant to <u>Section</u> <u>6.06</u> (other than <u>Section</u> <u>6.06(f)</u>) at such time and (3) a Responsible Officer of the applicable Issuer certifies to the Administrative Agent compliance with preceding <u>clauses (1)</u> and <u>(2)</u>); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) subordinate any Lien on any property granted to or held by the Administrative Agent under any Notes Document to the holder of any Lien on such property that is permitted by <u>Sections</u> <u>6.02(d)</u>, <u>6.02(e)</u>, <u>6.02(g)</u>, <u>6.02(m)</u>, <u>6.02(n)</u>, <u>6.02(r)</u>, <u>6.02(x)</u>, <u>6.02(y)</u>, <u>6.02(z)(i)</u>, <u>6.02(bb)</u>, <u>6.02(cc)</u>, <u>6.02(ee)</u>, and <u>6.02(ff)</u> (and any Refinancing Indebtedness in respect of any thereof to the extent such Refinancing Indebtedness is permitted to be secured under <u>Section</u> <u>6.02(k))</u>; <u>provided</u>, that the subordination of any Lien on any property granted to or held by the Administrative Agent shall only be required to the extent that the Lien of the Administrative Agent with respect to such property is required to be subordinated to the relevant Permitted Lien in accordance with applicable law or the documentation governing the Indebtedness that is secured by such Permitted Lien; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) enter into subordination, intercreditor and/or similar agreements with respect to Indebtedness that is (i) required or permitted to be subordinated hereunder and/or (ii) secured by Liens, and with respect to which Indebtedness, this Agreement contemplates an intercreditor, subordination or collateral trust agreement.

Upon the request of the Administrative Agent at any time, the Required Holders will confirm in writing the Administrative Agent's authority to release or subordinate its interest in particular types or items of property, or to release any Note Party from its obligations under the Note Guaranty or its Lien on any Collateral pursuant to this <u>Article 8</u>. In each case as specified in this <u>Article 8</u>, the Administrative Agent will (and each Holder hereby authorizes the Administrative Agent to), at the Issuer' expense, execute and deliver to the applicable Note Party such documents as such Note Party may reasonably request to evidence the release of such item of Collateral from the assignment and security interest granted under the Collateral Documents or to subordinate its interest therein, or to release such Note Party from its obligations under the Note Guaranty, in each case in accordance with the terms of the Notes Documents and this <u>Article 8</u> and without recourse or warranty of any kind; <u>provided</u> that upon the request of the Administrative Agent, the Issuer shall deliver a certificate of a Responsible Officer certifying that the relevant transaction has been consummated in compliance with the terms of this Agreement.

The Administrative Agent is authorized to enter into any Intercreditor Agreement (including any Permitted Pari Passu Intercreditor Agreement or any Permitted Junior Intercreditor Agreement) contemplated hereby with respect to Indebtedness that is (i) required or permitted to be subordinated hereunder and/or (ii) secured by Liens and which Indebtedness contemplates an intercreditor, subordination or collateral trust agreement (any such intercreditor agreement, an "**Additional Agreement**"), and the parties hereto acknowledge that any such Additional Agreement is binding upon them. Each Holder (a) hereby consents to the subordination of the Liens on the Collateral securing the Secured Obligations on the terms set forth in the any such Additional Agreement, to the extent that such subordination is expressly permitted hereunder, (b) hereby agrees that it will be bound by, and will not take

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any action contrary to any Additional Agreement and (c) hereby authorizes and instructs the Administrative Agent to enter into any Additional Agreement and to subject the Liens on the Collateral securing the Secured Obligations to the provisions thereof. The foregoing provisions are intended as an inducement to the Secured Parties to extend credit to the Issuer, and the Secured Parties are intended third-party beneficiaries of such provisions and the provisions of any Additional Agreement.

To the extent that the Administrative Agent (or any Affiliate thereof) is not reimbursed and indemnified by the Issuer pursuant to <u>Section</u> <u>9.03</u>, the Holders will reimburse and indemnify the Administrative Agent (and any Affiliate thereof) in proportion to their respective Applicable Percentages (for this purpose, calculated to include all Classes of Term Notes and Variable Note Commitments then in existence, but determined as if there were no Defaulting Holders) for and against any and all liabilities, obligations, losses, damages, penalties, claims, actions, judgments, costs, expenses or disbursements of whatsoever kind or nature which may be imposed on, asserted against or incurred by the Administrative Agent (or any Affiliate thereof) in performing its duties hereunder or under any other Notes Document or in any way relating to or arising out of this Agreement or any other Notes Document; <u>provided</u> that no Holder shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, claims, actions, judgments, suits, costs, expenses or disbursements resulting from the Administrative Agent's (or such affiliate's) gross negligence or willful misconduct (as determined by a court of competent jurisdiction in a final and non-appealable decision).

Furthermore:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the Administrative Agent (x) notifies a Holder or other Secured Party, or any Person who has received funds on behalf of a Holder or other Secured Party (any such Holder, other Secured Party or other recipient, a "**Payment Recipient**") that the Administrative Agent has determined in its reasonable discretion (whether or not after receipt of any notice under immediately succeeding <u>clause (b)</u>) that any funds (as set forth in such notice from the Administrative Agent) received by such Payment Recipient from the Administrative 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 Holder, other Secured Party 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 (y) 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 Administrative Agent pending its return or repayment as contemplated below in this Article 8 and held in trust for the benefit of the Administrative Agent, and such Holder or other Secured Party 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 Business Days thereafter (or such later date as the Administrative Agent may, in its sole discretion, specify in writing), 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 (in the currency so received), together with interest thereon (except to the extent waived in writing by the Administrative 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 Administrative Agent in same day funds 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. A notice of the Administrative Agent to any Payment Recipient under this clause (a) shall be conclusive, absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Without limiting immediately preceding <u>clause (a)</u>, each Holder or other Secured Party, or any Person who has received funds on behalf of a Holder or other Secured Party, hereby further 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 Administrative Agent (or any of

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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 Administrative Agent (or any of its Affiliates) with respect to such payment, prepayment or repayment, (y) that was not preceded or accompanied by a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates), or (z) that such Holder or other Secured Party, 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;(i) it acknowledges and agrees that (A) in the case of immediately preceding <u>clauses (x)</u> or <u>(y)</u>, an error and mistake shall be presumed to have been made (absent written confirmation from the Administrative Agent to the contrary) or (B) an error and mistake has been made (in the case of immediately preceding <u>clause (z)</u>),
in each case, with respect to such payment, prepayment or repayment; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) such Holder or other Secured Party 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 Business Day of its knowledge of the occurrence of any of the circumstances described in the immediately preceding <u>clauses (x)</u>, <u>(y)</u> and <u>(z)</u>) notify the Administrative Agent of its receipt of such payment, prepayment or repayment, the details thereof (in reasonable detail) and that it is so notifying the Administrative Agent pursuant to this <u>clause (b)</u>.

For the avoidance of doubt, the failure to deliver a notice to the Administrative Agent pursuant to this <u>clause (b)</u> shall not have any effect on a Payment Recipient's obligations pursuant to <u>clause (a)</u> above or on whether or not an Erroneous Payment has been made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Holder or other Secured Party hereby authorizes the Administrative Agent to set off, net and apply any and all amounts at any time owing to such Holder or other Secured Party under any Notes Document, or otherwise payable or distributable by the Administrative Agent to such Holder or other Secured Party under any Notes Document with respect to any payment of principal, interest, fees or other amounts, against any amount that Administrative Agent has demanded to be returned under immediately preceding clause (a) or under the indemnification provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) (i) In the event that an Erroneous Payment (or portion thereof) is not recovered by the Administrative Agent for any reason, after demand therefor in accordance with immediately preceding <u>clause (a)</u>, from any Holder 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 Administrative Agent's notice to such Holder or Issuing Holder at any time, then effective immediately (with the consideration therefor being acknowledged by the parties hereto), (A) such Holder shall be deemed to have assigned its Notes (but not its Commitments) of the relevant Class 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 Administrative Agent may specify) (such assignment of the Notes (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 Administrative Agent in such instance)), and is hereby (together with the Issuer) deemed to execute and deliver an Assignment and Assumption (or, to the extent applicable, an agreement incorporating an Assignment and Assumption by reference pursuant to an approved electronic platform as to which the Administrative Agent and such parties are participants) with respect to such Erroneous Payment Deficiency Assignment, and such Holder shall deliver any Notes evidencing such Notes to the Issuer or the Administrative Agent (but the failure of such Person to deliver any such Notes shall not affect the effectiveness of the foregoing assignment), (B) the Administrative Agent

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as the assignee Holder shall be deemed to have acquired the Erroneous Payment Deficiency Assignment, (C) upon such deemed acquisition, the Administrative Agent as the assignee Holder shall become a Holder hereunder with respect to such Erroneous Payment Deficiency Assignment and the assigning Holder shall cease to be a Holder, 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 Holder, (D) the Administrative Agent and the Issuer shall each be deemed to have waived any consents required under this Agreement to any such Erroneous Payment Deficiency Assignment and (E) the Administrative Agent will reflect in the Register its ownership interest in the Notes subject to the Erroneous Payment Deficiency Assignment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Subject to <u>Section</u> <u>9.05</u> (but excluding in all events, any assignment consent or approval requirements (whether from the Issuer or otherwise)), the Administrative Agent may, in its discretion, sell any Notes 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 Holder shall be reduced by the net proceeds of the sale of such Note (or portion thereof), and the Administrative Agent shall retain all other rights, remedies and claims against such Holder (and/or against any recipient that receives funds on its respective behalf). In addition, an Erroneous Payment Return Deficiency owing by the applicable Holder (x) 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 Administrative Agent on or with respect to any such Notes acquired from such Holder pursuant to an Erroneous Payment Deficiency Assignment (to the extent that any such Notes are then owned by the Administrative Agent) and (y) may, in the sole discretion of the Administrative Agent, be reduced by any amount specified by the Administrative Agent in writing to the applicable Holder from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The parties hereto agree that (x) irrespective of whether the Administrative 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 Administrative 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 Holder or other Secured Party, to the rights and interests of such Holder or other Secured Party, as the case may be) under the Notes Documents with respect to such amount (the "**Erroneous Payment Subrogation Rights**") (*provided* that the Note Parties' Secured Obligations under the Notes Documents in respect of the Erroneous Payment Subrogation Rights shall not be duplicative of such Secured Obligations in respect of Notes that have been assigned to the Administrative Agent under an Erroneous Payment Deficiency Assignment) and (y) an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Secured Obligations owed by the Issuer or any other Note Party; *provided* that, for the avoidance of doubt, immediately preceding clauses (x) and (y) 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 Administrative Agent from the Issuer for the purpose of making such Erroneous Payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) The parties hereto agree that an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed by the Issuer or any other Note 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 Issuer or any other Note Party for the purpose of making such Erroneous Payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) 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 Administrative Agent for the return of any Erroneous Payment received, including without limitation, any defense based on "discharge for value" or any similar doctrine.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Each party's obligations, agreements and waivers under these <u>clauses (a)</u> through <u>(f)</u> shall survive the resignation or replacement of the Administrative Agent, the termination of the Commitments and/or the repayment, satisfaction or discharge of all Secured Obligations (or any portion thereof) under any Notes Document.

In addition:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Holder (x) represents and warrants, as of the date such Person became a Holder party hereto, to, and (y) covenants, from the date such Person became a Holder party hereto to the date such Person ceases being a Holder party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Issuer or any other Note Party, 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;(i) such Holder 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 Holder's entrance into, participation in, administration of and performance of the Notes, 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;(ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Holder's entrance into, participation in, administration of and performance of the Notes, 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;(iii) ((A) such Holder 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 Holder to enter into, participate in, administer and perform the Notes, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Notes, 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 Holder, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Holder's entrance into, participation in, administration of and performance of the Notes, 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;(iv) such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Holder or (2) a Holder has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such Holder further (x) represents and warrants, as of the date such Person became a Holder party hereto, to, and (y) covenants, from the date such Person became a Holder party hereto to the date such Person ceases being a Holder party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Issuer or any other Note Party, that the Administrative Agent is not a fiduciary with respect to the assets of such Holder involved in such Holder's entrance into, participation in, administration of and performance of the Notes, the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Notes Document or any documents related hereto or thereto).

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ARTICLE 9

MISCELLANEOUS

Section 9.01 <u>Notices</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except in the case of notices and other communications expressly permitted to be given by telephone (and subject to <u>paragraph (b)</u> below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile or email, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if to any Note Party, to such Note Party in the care of the Issuer at:

RBP Global Holdings Limited

10710 Midlothian Turnpike

Suite 125

North Chesterfield, USA-VA 23235

Attention: Ryan Preblick, Chief Financial Officer

Email: ryan.preblick@indivior.com

with copy to:

RBP Global Holdings Limited

10710 Midlothian Turnpike

Suite 125

North Chesterfield, USA-VA 23235

Attention: General Counsel

Email: legal@indivior.com

with copy to (which shall not constitute notice to any Note Party):

Troutman Pepper Hamilton Sanders LLP

305 Church at North Hills Street

Suite 1200

Raleigh, NC 27609

Attention: Justin Wood

Email: justin.wood@troutman.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if to the Administrative Agent or Collateral Agent,<sup></sup>at:

Piper Sandler Finance LLC

444 West Lake Street, 33rd Floor

Chicago, IL 60606

Attention: James Chiarelli

Telephone: (312) 267-5122

Email: james.chiarelli@psc.com;

pipersandleragency@alterdomus.com

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with copies (which shall not constitute notice) to:

McDermott Will & Emery LLP

One Vanderbilt Ave

New York, NY 10017

Attention: Riley Orloff

Email: rorloff@mwe.com

-and-

McDermott Will & Emery UK LLP

22 Bishopsgate

London, EC2N 4BQ

Attention: Aymen Mahmoud

Email: amahmoud@mwe.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if to any Purchaser, to it at its address or facsimile number set forth in the Purchaser Schedule; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) if to any Holder, to it at its address or facsimile number set forth in its Administrative Questionnaire.

All such notices and other communications (A) sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when delivered in person or by courier service and signed for against receipt thereof or three Business Days after dispatch if sent by certified or registered mail, in each case, delivered, sent or mailed (properly addressed) to the relevant party as provided in this <u>Section</u> <u>9.01</u> or in accordance with the latest unrevoked direction from such party given in accordance with this <u>Section</u> <u>9.01</u> or (B) sent by facsimile shall be deemed to have been given when sent and when receipt has been confirmed by telephone; <u>provided</u> that received notices and other communications sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, such notices or other communications shall be deemed to have been given at the opening of business on the next Business Day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in <u>clause (b)</u> below shall be effective as provided in such <u>clause</u> <u>(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notices and other communications to the Holders hereunder may be delivered or furnished by electronic communications (including e-mail and Internet or Intranet websites) pursuant to procedures set forth herein or otherwise approved by the Administrative Agent. The Administrative Agent or the Issuer (on behalf of any Note Party) may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures set forth herein or otherwise approved by it; <u>provided</u> that approval of such procedures may be limited to particular notices or communications. All such notices and other communications (i) sent to an e-mail address shall be deemed received upon the sender's receipt of an acknowledgement from the intended recipient (such as by the "return receipt requested" function, as available, return e-mail or other written acknowledgement); <u>provided</u> that if not given during the normal business hours of the recipient, such notice or communication shall be deemed to have been given at the opening of business on the next Business Day for the recipient, and (ii) 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</u> <u>(b)(i)</u> of notification that such notice or communication is available and identifying the website address therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any party hereto may change its address or facsimile number or other notice information hereunder by notice (i) the Administrative Agent, in the case of the Issuer or Holdings, (ii) the Administrative Agent and each Issuer, in the case of a Holder and (iii) the parties hereto, in the case of 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;(d) THE PLATFORM IS PROVIDED "AS IS" AND "AS AVAILABLE". THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE ISSUER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE ISSUER 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 ISSUER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the "**Agent Parties**") have any liability to any Parent Company, the Issuer, any Holder, or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of any Parent Company's, the Issuer's or the Administrative Agent's transmission of Issuer Materials 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 non-appealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; <u>provided</u>, however, that in no event shall any Agent Party have any liability to any Parent Company, the Issuer, any Holder or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Each Public Holder agrees to cause at least one individual at or on behalf of such Public Holder 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 Holder or its delegate, in accordance with such Public Holder's compliance procedures and applicable Law, including U.S. Federal and state and foreign securities laws, to make reference to Issuer Materials that are not made available through the "Public Side Information" portion of the Platform and that may contain material non-public information with respect to any Applicable Reporting Company, Holdings, the Issuer or their respective subsidiaries and its or their securities for purposes of U.S. Federal or state and foreign securities laws.

Section 9.02 <u>Waivers; Amendments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) No failure or delay by the Administrative Agent or any Holder in exercising any right or power hereunder or under any other Notes Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent and the Holders hereunder and under any other Notes Document are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of any Notes Document or consent to any departure by any Note Party therefrom shall in any event be effective unless the same is permitted by <u>paragraph (b)</u> of this <u>Section</u> <u>9.02</u>, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, to the extent permitted by law, the making of a Note shall not be construed as a waiver of any Default or Event of Default, regardless of whether the Administrative Agent, any Holder may have had notice or knowledge of such Default or Event of Default at the time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to <u>clauses</u> <u>(A)</u>, <u>(B)</u>, <u>(C)</u> and <u>(D)</u> of this <u>Section</u> <u>9.02(b)</u> and <u>Sections</u> <u>9.02(c)</u> and <u>(d)</u> below, neither this Agreement nor any other Notes Document nor any provision hereof or thereof may be waived, amended or modified, except (i) in the case of this Agreement, pursuant to an agreement or agreements in writing entered into by the Issuer and the Required Holders (or the Administrative Agent

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with the consent of the Required Holders) or (ii) in the case of any other Notes Document (other than any waiver, amendment or modification to effectuate any modification thereto expressly contemplated by the terms of such other Notes Documents), pursuant to an agreement or agreements in writing entered into by the Administrative Agent and each Note Party that is party thereto, with the consent of the Required Holders; <u>provided</u> that, notwithstanding 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;(i) except with the consent of each Holder directly and adversely affected thereby (but without the consent of the Required Holders other than with respect to (i) an increase in the aggregate amount of Commitments or (ii) provision of additional Collateral to support any increase in the aggregate amount of Commitments), no such waiver, amendment 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;(A) increase the Commitment of such Holder (other than with respect to any Incremental Note Facility pursuant to <u>Section</u> <u>2.22</u> in respect of which such Holder has agreed to be an Additional Purchaser); it being understood that no amendment, modification or waiver of, or consent to departure from, any condition precedent, representation, warranty, covenant, Default, Event of Default, mandatory prepayment or mandatory reduction of the Commitments or Additional Note Commitments shall constitute an increase of any Commitment or Additional Note Commitment of such 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;&nbsp;&nbsp;&nbsp;&nbsp;(B) reduce or forgive the principal amount of any Note or any amount due on any Note Installment 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) (x) extend the scheduled final maturity of any Note or (y) postpone any Note Installment Date, any Interest Payment Date or the date of any scheduled payment of any fee or other amount 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;(D) reduce the rate of interest (other than to waive any Default or Event of Default or obligation of the Issuer to pay interest at the default rate of interest under <u>Section</u> <u>2.13(d)</u>, which shall only require the consent of the Required Holders) or the amount of any fee owed to such Holder; it being understood that no change in the definition of "First Lien Leverage Ratio", "Total Leverage Ratio" or any other ratio used in the calculation of the Applicable Rate, or in the calculation of any other interest or fee due hereunder (including any component definition thereof) shall constitute a reduction in any rate of interest or fee 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;(E) extend the expiry date of such Holder's Commitment; it being understood that no amendment, modification or waiver of, or consent to departure from, any condition precedent, representation, warranty, covenant, Default, Event of Default, mandatory prepayment or mandatory reduction of the Commitments or Additional Note Commitments shall constitute an extension of any Commitment or Additional Note Commitment of any 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;&nbsp;&nbsp;&nbsp;&nbsp;(F) waive, amend or modify the provisions of (i) <u>Section</u> <u>2.18(b)</u> or (ii) <u>2.18(c)</u> of this Agreement, in the case of this <u>clause (ii)</u>, in a manner that would by its terms alter the *pro rata* sharing of payments required thereby (except in connection with any transaction permitted under <u>Sections</u> <u>2.22</u>, <u>2.23</u>, <u>9.02(c)</u> and/or <u>9.05(g)</u> or as otherwise provided in this <u>Section</u> <u>9.02</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;(G) reduce, waive or forgive, or extend the due date of, any premium due in connection with a prepayment or otherwise payable pursuant to <u>Section</u> <u>2.11(f)</u>; 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;(H) waive, amend or modify the provisions of <u>Section</u> <u>2.22</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;(ii) no such waiver, amendment 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;(A) change (x) any of the provisions of <u>Section</u> <u>9.02(a)</u> or <u>Section</u> <u>9.02(b)</u> or the definition of "Required Holders" to reduce any voting percentage required to waive, amend or modify any right thereunder or make any determination or grant any consent thereunder, without the prior written consent of each Holder or (y) the definition of "Required Variable Note Holders" without the prior written consent of each Variable Note Holder (it being understood that the consent of the Required Holders shall not be required in connection with any change to the definition of "Required Variable Note Holders");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) release all or substantially all of the Collateral from the Lien granted pursuant to the Notes Documents (except as otherwise permitted herein or in the other Notes Documents, including pursuant to <u>Article</u> <u>8</u> or <u>Section</u> <u>9.21</u>, in each case, as in effect on the Closing Date), without the prior written consent of each 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;&nbsp;&nbsp;&nbsp;&nbsp;(C) release all or substantially all of the value of the Guarantees under the Note Guaranty (except as otherwise permitted herein or in the other Notes Documents, including pursuant to <u>Section</u> <u>9.21</u> hereof, in each case, as in effect on the Closing Date), without the prior written consent of each 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;&nbsp;&nbsp;&nbsp;&nbsp;(D) adversely affect the Holders under any Class disproportionately to the Holders under any other Class, without the prior written consent of Holders under such disproportionately affected Class holding Term Notes, Variable Note Exposure or unused Commitments under such Class representing more than 50% of the sum of the Term Notes, Variable Note Exposure and unused Commitments under such Class at 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;(E) result in the subordination of the Obligations (or any portion thereof) or the Liens on the Collateral securing the Secured Obligations (or any portion thereof) to any other Indebtedness or claim, without the prior written consent of each Holder,

<u>provided</u>, <u>further</u>, that no agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent hereunder without the prior written consent of the Administrative Agent. The Administrative Agent may also amend the Commitment Schedule to reflect assignments made pursuant to <u>Section</u> <u>9.05</u>, Commitment reductions or terminations pursuant to <u>Section</u> <u>2.09</u>, incurrences of Additional Note Commitments, Additional Notes, Replacement Term Notes or Replacement Variable Notes pursuant to <u>Section</u> <u>2.22</u>, <u>2.23</u> or <u>9.02(c)</u> and reductions or terminations of any such Additional Note Commitments or Additional Notes. Notwithstanding anything to the contrary herein, no Defaulting Holder shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that the Commitment of any Defaulting Holder may not be increased without the consent of such Defaulting Holder (it being understood that any Commitment or Note held or deemed held by any Defaulting Holder shall be excluded from any vote hereunder that requires the consent of any Holder, except as expressly provided in <u>Section</u> <u>2.21(b)</u>). Notwithstanding the foregoing, this Agreement may be amended (or amended and restated) with the written consent of the Required Holders, the Administrative Agent and the Issuer (i) to add one or more additional credit facilities to this Agreement and to permit any extension of credit from time to time outstanding thereunder and the accrued interest and fees in respect thereof to share ratably in the relevant benefits of this Agreement and the other Notes Documents and (ii) to include appropriately the Holders holding such credit facilities in any determination of the Required Holders on substantially the same basis as the Holders prior to such inclusion.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding the foregoing, this Agreement may be amended:

&nbsp;&nbsp;&nbsp;&nbsp;&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) with the written consent of the Issuer and the Holders providing the relevant Replacement Term Notes to permit the refinancing or replacement of all or any portion of the outstanding Initial Term Notes or any then-existing Additional Term Notes under the applicable Class (any such notes being refinanced or replaced, the "**Replaced Term Notes**") with one or more replacement term Notes hereunder ("**Replacement Term Notes**") pursuant to a Refinancing Amendment; <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;(A) the aggregate principal amount of any Replacement Term Notes shall not exceed the aggregate principal amount of the Replaced Term Notes (*plus* (1) any additional amounts permitted to be incurred under <u>Section</u> <u>6.01(a)</u>, <u>(q)</u>, <u>(u)</u>, <u>(w)</u> and/or <u>(z)</u> and, to the extent any such additional amounts are secured, the related Liens are permitted under <u>Section</u> <u>6.02(k)</u> (with respect to Liens securing Indebtedness permitted by <u>Section</u> <u>6.01(a)</u>, <u>(q)</u>, <u>(u)</u>, <u>(w)</u> or <u>(z)</u>), <u>(o)</u>, <u>(u)</u> and/or <u>(ii)</u>, in each case, so long as such additional amounts, and any indebtedness, are incurred in accordance with, and justified under, such provisions and *plus* (2) the amount of accrued interest and premium (including tender premium) thereon and underwriting discounts, fees (including upfront fees and original issue discount), commissions and expenses 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) any Replacement Term Notes must have a final maturity date that is equal to or later than the final maturity date of, and have a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Replaced Term Notes at the time of the relevant refinancing,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) any Replacement Term Notes may rank *pari passu* or junior in right of payment and *pari passu* or junior with respect to all or a portion of the Collateral with the remaining portion of the Initial Term Notes or Additional Term Notes (<u>provided</u> that if such Indebtedness ranks *pari passu* with or junior as to payment or Collateral, such Replacement Term Notes shall be subject to a Permitted Pari Passu Intercreditor Agreement, a Permitted Junior Intercreditor Agreement and/or subordination provisions reasonably satisfactory to the Administrative Agent, as applicable, and may be, at the option of the Administrative Agent and the Issuer, documented in a separate agreement or agreements), or be 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;(D) if any Replacement Term Notes are secured, such Replacement Term Notes may not be secured by any assets other than the Collateral (but need not be secured by all 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) if any Replacement Term Notes are guaranteed, such Replacement Term Notes may not be guaranteed by any Person other than one or more Note Parties (but need not be guaranteed by all such Persons),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) any Replacement Term Notes that rank *pari passu* in right of payment and *pari passu* in right of security may participate on a *pro rata* basis or a less than *pro rata* basis (but not greater than a *pro rata* basis) (or, if ranking junior in right of payment or security, shall be on a junior basis with respect thereto) in any voluntary or mandatory repayment or prepayment in respect of the Initial Term Notes (and any Additional Term Notes then subject to ratable repayment requirements), in each case as agreed by the Issuer and the Holders providing the relevant Replacement Term Notes,

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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) any Replacement Term Notes shall have pricing (including interest, fees and premiums, and as to which the proviso in <u>Section</u> <u>2.22(a)(v)</u> shall not apply, except to the extent additional amounts are utilized pursuant to clause (c)(i)(A)(1) above and <u>Section</u> <u>2.22(a)(v)</u> applies to any of the relevant debt baskets that are utilized) and, subject to preceding <u>clause (F)</u>, optional prepayment and redemption terms as the Issuer and the holders providing such Replacement Term Notes may 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H) no Default under <u>Section</u> <u>7.01(a)</u>, <u>7.01(f)</u> or <u>7.01(g)</u> or Event of Default shall exist immediately prior to or after giving effect to the effectiveness of the relevant Replacement Term Notes, 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;<u>(I)</u> either (i) the other terms and conditions of any Replacement Term Notes (excluding pricing, interest, fees, rate floors, premiums, optional prepayment or redemption terms, security and maturity, subject to preceding <u>clauses</u> <u>(B)</u> through <u>(G)</u>) shall be substantially identical to, or (taken as a whole) no more favorable (as reasonably determined by the Issuer) to the holders providing such Replacement Term Notes than those applicable to the Replaced Term Notes (other than covenants or other provisions applicable only to periods after the Latest Term Note Maturity Date (in each case, as of the date of incurrence of such Replacement Term Notes)) or (ii) such Replacement Term Notes shall be provided on then-current market terms for the applicable type of 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;(J) one or more of the Issuer shall be the direct borrower or issuer of such 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;(K) the commitments in respect of the Replaced Term Notes are terminated, and all outstanding Replaced Term Notes and fees in connection therewith shall be paid in full, in each case on the date such Replacement Term Notes are 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;(ii) with the written consent of the Issuer and the Holders providing the relevant Replacement Variable Note to permit the refinancing or replacement of all or any portion of the Variable Note Commitment or any Additional Variable Note Commitment under the applicable Class (any such Variable Note Commitment or Additional Variable Note Commitment being refinanced or replaced, a "**Replaced Variable Note**") with a replacement variable note hereunder (a "**Replacement Variable Note**") pursuant to a Refinancing Amendment; <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;(A) the aggregate principal amount of any Replacement Variable Note shall not exceed the aggregate principal amount of the Replaced Variable Note (*plus* (x) any additional amounts permitted to be incurred under <u>Section</u> <u>6.01(a)</u>, <u>(q)</u>, <u>(u)</u>, <u>(w)</u> and/or <u>(z)</u> and, to the extent any such additional amounts are secured, the related Liens are permitted under <u>Section</u> <u>6.02(k)</u> (with respect to Liens securing Indebtedness permitted by <u>Section</u> <u>6.01(a)</u>, <u>(q)</u>, <u>(u)</u>, <u>(w)</u> or <u>(z)</u>), <u>(o)</u>, <u>(u)</u> and/or <u>(ii)</u>, in each case, so long as such additional amounts, and any indebtedness, are incurred in accordance with, and justified under, such provisions and *plus* (y) the amount of accrued interest and premium thereon, any committed but undrawn amounts and underwriting discounts, fees (including upfront fees and original issue discount), commissions and expenses associated 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) no Replacement Variable Note may have a final maturity date (or require commitment reductions) prior to the final maturity date of the relevant Replaced Variable Note at the time of such refinancing,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) any Replacement Variable Note may rank *pari passu* or junior in right of payment and *pari passu* or junior with respect to all or a portion of the Collateral with the remaining portion of the Variable Note Commitments or Additional Variable Note Commitments (and shall be subject to a Permitted Pari Passu Intercreditor Agreement, Permitted Junior Intercreditor Agreement and/or subordination provisions reasonably satisfactory to the Administrative Agent, as applicable, and may be, at the option of the Administrative Agent and the Issuer, documented in a separate agreement or agreements), or be 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;(D) if any Replacement Variable Note is secured, it may not be secured by any assets other than the Collateral (but need not be secured by all 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) if any Replacement Variable Note is guaranteed, it may not be guaranteed by any Person other than one or more Note Parties (but need not be guaranteed by all such Persons),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) any Replacement Variable Note that ranks *pari passu* in right of payment and *pari passu* in right of security may participate on a *pro rata* basis or a less than *pro rata* basis (but not greater than a *pro rata* basis) (or, if ranking junior in right of payment or security, shall be on a junior basis with respect thereto) in any voluntary or mandatory repayment or prepayment in respect of the Replaced Variable Note (and any Additional Variable Notes then subject to ratable repayment requirements), in each case as agreed by the Issuer and the Holders providing the relevant Replacement Variable 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;(G) any Replacement Variable Note shall be subject to the "ratability" provisions applicable to Extended Variable Note Commitments and Extended Variable Notes set forth in the proviso to <u>clause (ii)</u> of <u>Section</u> <u>2.23(a)</u>, *mutatis mutandis*, to the same extent as if fully set forth in this <u>Section</u> <u>9.02(c)(ii)</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) any Replacement Variable Note shall have pricing (including interest, fees and premiums, and as to which the proviso in <u>Section</u> <u>2.22(a)(v</u>) shall not apply, except to the extent that additional amounts are utilized pursuant to clause (c)(ii)(A)(x) above and <u>Section</u> <u>2.22(a)(v)</u> applies to any of the relevant debt baskets that are utilized) and, subject to preceding <u>clause (F)</u>, optional prepayment and redemption terms as the Issuer and the holders providing such Replacement Variable Note may 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I) no Default under <u>Section</u> <u>7.01(a)</u>, <u>7.01(f)</u> or <u>7.01(g)</u> or Event of Default shall exist immediately prior to or after giving effect to the effectiveness of the relevant Replacement Variable Note, 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;(J) either (i) the other terms and conditions of any Replacement Variable Note (excluding pricing, interest, fees, rate floors, premiums, optional prepayment or redemption terms, security and maturity, subject to preceding <u>clauses (B)</u> through <u>(G)</u>) shall be substantially identical to, or (taken as a whole) no more favorable (as reasonably determined by the Issuer) to the holders providing such Replacement Variable Note than those applicable to the Replaced Variable Note (other than covenants or other provisions applicable only to periods after the Latest Variable Note Maturity Date (in each case, as of the date of incurrence of the relevant Replacement Variable Note)) or (ii) such Replacement Variable Note shall be provided on then-current market terms for the applicable type of Indebtedness, 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;(K) the commitments in respect of the Replaced Variable Note shall be terminated, and all notes outstanding thereunder and all fees in connection therewith shall be paid in full, in each case on the date such Replacement Variable Note is implemented;

Each party hereto hereby agrees that, upon the effectiveness of any Refinancing Amendment, this Agreement shall be amended by the Issuer, the Administrative Agent and the holders providing the relevant Replacement Term Notes or the Replacement Variable Note, as applicable, to the extent (but only to the extent) necessary to reflect the existence and terms of such Replacement Term Notes or Replacement Variable Note, as applicable, incurred or implemented pursuant thereto (including any amendment necessary to treat the notes and commitments subject thereto as a separate "tranche" and "Class" of Notes and/or commitments hereunder). It is understood that any Holder approached to provide all or a portion of any Replacement Term Notes or any Replacement Variable Note may elect or decline, in its sole discretion, to provide such Replacement Term Notes or Replacement Variable Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding anything to the contrary contained in this <u>Section</u> <u>9.02</u> or any other provision of this Agreement or any provision of any other Notes Document, (i) the Issuer and the Administrative Agent may, without the input or consent of any Holder, amend, supplement and/or waive any guaranty, collateral security agreement, pledge agreement and/or related document (if any) executed in connection with this Agreement to (x) comply with Requirements of Law or the advice of counsel or (y) cause any such guaranty, collateral security agreement, pledge agreement or other document to be consistent with this Agreement and/or the relevant other Notes Documents, (ii) the Issuer and the Administrative Agent may, without the input or consent of any other Holder (other than the relevant Holders (including Additional Purchasers) providing Notes under such Sections), effect amendments to this Agreement and the other Notes Documents as may be necessary in the reasonable opinion of the Issuer and the Administrative Agent to effect the provisions of <u>Section</u> <u>2.22</u>, <u>2.23</u>, <u>5.12</u>, <u>6.13</u> or <u>9.02(c)</u>, or any other provision specifying that any waiver, amendment or modification may be made with the consent or approval of the Administrative Agent and (iii) if the Administrative Agent and the Issuer have jointly identified any ambiguity, mistake, defect, inconsistency, obvious error or any error or omission of a technical nature or any necessary or desirable technical change, in each case, in any provision of any Notes Document, then the Administrative Agent and the Issuer shall be permitted to amend such provision solely to address such matter as reasonably determined by them acting jointly and such amendment shall become effective without any further action or consent of any other party to any Notes Documents if the same is not objected to in writing by the Required Holders within five (5) Business Days following receipt of notice thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Notwithstanding the foregoing, this Agreement may be amended, with the written consent of each Variable Note Holder, the Administrative Agent and the Issuer to the extent necessary to integrate any Alternative Currency (other than any Alternative Currency permitted as of the Closing Date) in accordance with <u>Section</u> <u>1.08</u>.

Section 9.03 <u>Expenses; Indemnity</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Issuer and Holdings shall jointly and severally pay (i) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent and their respective Affiliates (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 firm of outside counsel to all such Persons taken as a whole and, if necessary, of one local counsel in each relevant jurisdiction to all such Persons, taken as a whole) in

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connection with the preparation, negotiation, execution, delivery and administration of the Notes Documents and any related documentation, including in connection with any amendment, modification or waiver of any provision of any Notes Document (whether or not the transactions contemplated thereby are consummated, but only to the extent the preparation of any such amendment, modification or waiver was requested by the Issuer and except as otherwise provided in a separate writing between the Issuer, the Administrative Agent) and (ii) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent or the Holders or any of their respective Affiliates (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 firm of outside counsel to all such Persons taken as a whole and, if necessary, of one local counsel in each relevant jurisdiction to all such Persons, taken as a whole, and solely in the case of an actual or perceived conflict of interest, (x) one additional counsel to all affected Persons, taken as a whole and (y) one additional local counsel in each appropriate jurisdiction to all such affected Persons, taken as a whole) in connection with the enforcement, collection or protection of their respective rights in connection with the Notes Documents, including their respective rights under this <u>Section</u> <u>9.03</u>, or in connection with the Notes made hereunder. Except to the extent required to be paid on the Closing Date, all amounts due under this <u>paragraph (a)</u> shall be payable by the Issuer within 30 days of receipt of an invoice setting forth such expenses in reasonable detail, together with backup documentation supporting the relevant reimbursement request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) (I) The Issuer and Holdings shall jointly and severally indemnify each of the Administrative Agent, Holders and their respective affiliates and the officers, directors, employees, advisors, agents, controlling persons and members of each of the foregoing (each, an "**Indemnified Person**") for losses, claims, damages, liabilities or expenses arising out of or in connection with or as a result of (i) the Transactions or the execution or delivery of the Notes Documents or any agreement or instrument contemplated thereby and/or the enforcement of the Notes Documents, the performance by the parties hereto of their respective obligations thereunder or the consummation of the Transactions or any other transactions contemplated hereby or thereby, (ii) the use of the proceeds of the Notes, (iii) any actual or alleged Release or presence of Hazardous Materials on, at, under or from any property currently or formerly owned or operated by Holdings, the Issuer, any of their Restricted Subsidiaries or any other Note Party or any Environmental Liability related to Holdings, the Issuer, any of their Restricted Subsidiaries or any other Note Party and/or (iv) any actual or prospective claim, litigation, investigation or other proceeding relating to any of the foregoing, whether based on contract, tort or any other theory (regardless of whether such Indemnified Person is a party thereto and regardless of whether such matter is initiated by the equity holders or creditors of Holdings or the Issuer or any other third party or by Holdings, the Issuer, any other Note Party or any of their respective Affiliates), or to the actual or alleged Release or presence of Hazardous Materials on, at, under, or from any property currently or formerly owned or operated by Holdings, the Issuer or any Restricted Subsidiary. This Section 9.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(II) Notwithstanding anything to the contrary in <u>clause (I)</u> above, no Indemnified Person will be indemnified under the indemnity in <u>clause (I)</u> above for (A) any cost, expense or liability (i) to the extent determined by a court of competent jurisdiction in a final, non-appealable judgment to have resulted from the gross negligence, bad faith or willful misconduct of such Indemnified Person or any of such Indemnified Person's Related Parties, (ii) arising from a material breach of such Indemnified Person's (or any of its Related Parties') obligations under any Notes Document, as determined by a court of competent jurisdiction in a final, non-appealable judgment or (iii) arising from any claim, actions, suits, inquiries, litigation, investigation or proceeding that does not involve an act or omission of Holdings, the Issuer or any of their Affiliates and that is brought by an Indemnified Person against any other Indemnified Person (other than any claim, actions, suits, inquiries, litigation, investigation or proceeding against the Administrative Agent in its capacity as such), or (B) any settlement entered into by such Indemnified Person (or any of its affiliates, successors, assigns or Related Parties) without the Issuer's written consent (such consent not to

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be unreasonably withheld, delayed or conditioned), but if settled with the Issuer's written consent, or if there is a final, unappealable judgment against an Indemnified Person in any such proceeding, the Issuer and Holdings shall jointly and severally indemnify and hold harmless each Indemnified Person to the extent and in the manner set forth above; <u>provided</u>, <u>however</u>, that the indemnity in <u>clause (I)</u> above will apply to any such settlement in the event that Holdings or the Issuer were offered the ability to assume the defense of the action that was the subject matter of such settlement and elected not to assume such defense.

Section 9.04 <u>Waiver of Claim</u>. To the extent permitted by applicable law, no party to this Agreement shall assert, and each hereby waives, any claim against any other party hereto or any Related Party thereof, 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 or any agreement or instrument contemplated hereby (including any other Notes Document), the Transactions, any Note or the use of the proceeds thereof, except, in the case of any claim by any Indemnified Person against any of the Issuer or Holdings, to the extent such damages would otherwise be subject to indemnification pursuant to the terms of <u>Section</u> <u>9.03</u>.

Section 9.05 <u>Successors and Assigns</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns; <u>provided</u> that (i) neither Holdings nor the Issuer may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Holder (and any attempted assignment or transfer by Holdings or the Issuer without such consent shall be null and void) and (ii) no Holder may assign or otherwise transfer its rights or obligations hereunder except in accordance with the terms of this <u>Section</u> <u>9.05</u> (any attempted assignment or transfer not complying with the terms of this <u>Section</u> <u>9.05</u> shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and permitted assigns, Participants (to the extent provided in <u>paragraph</u> <u>(c)</u> of this <u>Section</u> <u>9.05</u>) and, to the extent expressly contemplated hereby, Indemnified Persons and the Related Parties of each of the Administrative Agent and the Holders) any legal or equitable right, remedy or claim under or by reason of this Agreement.

&nbsp;&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;(i) Subject to the conditions set forth in <u>paragraph</u> <u>(b)(ii)</u> below, any Holder may assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of any Note or Additional Note Commitment added pursuant to <u>Section</u> <u>2.22</u>, <u>2.23</u> or <u>9.02(c)</u> at the time owing to it) with the prior written consent (not to be unreasonably withheld or delayed) 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) the Issuer; <u>provided</u> that the Issuer shall be deemed to have consented to any such assignment unless it has objected thereto by written notice to the Administrative Agent within 10 Business Days after receiving written notice thereof (such notice to be provided irrespective of whether an Event of Default under <u>Section</u> <u>7.01(a)</u> or <u>7.01(f)</u> or <u>7.01(g)</u> has occurred and is continuing); <u>provided</u>, <u>further</u>, that no consent of the Issuer shall be required (x) for any assignment of (1) Variable Notes, Additional Variable Notes, Variable Note Commitments or Additional Variable Note Commitments to another Variable Note Holder, an Affiliate of any Variable Note Holder or an Approved Fund of any Variable Note Holder or (2) Initial Term Notes, Additional Term Notes, Initial Term Note Commitments, or Additional Term Note Commitments to another Holder, an Affiliate of any Holder or an Approved Fund, or (y) if an Event of Default under <u>Section</u> <u>7.01(a)</u> or <u>Section</u> <u>7.01(f)</u> or <u>7.01(g)</u> (solely with respect to Holdings or the Issuer) exists; 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;(B) the Administrative Agent; <u>provided</u>, that no consent of the Administrative Agent shall be required for any assignment to another Holder, any Affiliate of a Holder or any Approved Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&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) 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) except in the case of any assignment to another Holder, any Affiliate of any Holder or any Approved Fund or any assignment of the entire remaining amount of the relevant assigning Holder's Notes or Commitments of any Class, the principal amount of Notes or Commitments of the assigning Holder subject to the relevant assignment (determined as of the date on which the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent and determined on an aggregate basis in the event of concurrent assignments to Related Funds or by Related Funds) shall not be less than (x) $1,000,000, in the case of Initial Term Notes, Initial Term Note Commitments and Additional Term Note Commitments and shall be in a multiple of $1,000,000 in excess thereof (or, if smaller, the entire remaining amount of the assigning Holder's Notes or Commitments unless the Issuer and the Administrative Agent otherwise consent) and (y) $5,000,000 in the case of Variable Notes, Additional Variable Notes, Variable Note Commitments or Additional Variable Note Commitments unless the Issuer and the Administrative Agent otherwise consent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) any partial assignment shall be made as an assignment of a proportionate part of all the relevant assigning Holder's rights and obligations under this Agreement; <u>provided</u> that this clause shall not be construed to prohibit the assignment of a proportionate part of all the assigning Holders' rights and obligations in respect of one Class of Commitments or 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) 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), and shall pay to the Administrative Agent a processing and recordation fee of $3,500 (which fee may be waived or reduced in the sole discretion of the Administrative 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;(D) the relevant Eligible Assignee, if it is not an existing Holder, shall deliver on or prior to the effective date of such assignment, to the Administrative Agent (1) an Administrative Questionnaire, (2) any tax forms required under <u>Section</u> <u>2.17</u> and (3) all "know your customer" documentation.

&nbsp;&nbsp;&nbsp;&nbsp;&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) Subject to the acceptance and recording thereof pursuant to <u>paragraph</u> <u>(b)(iv)</u> of this <u>Section</u> <u>9.05</u>, from and after the recordation date of each Assignment and Assumption in the Register, the Eligible Assignee thereunder shall be a party hereto and, to the extent of the interest assigned pursuant to such Assignment and Assumption, have the rights and obligations of a Holder under this Agreement, and the assigning Holder 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 Holder's rights and obligations under this Agreement, such Holder shall cease to be a party hereto but shall continue to be (A) entitled to the benefits of <u>Sections 2.15</u>, <u>2.16</u>, <u>2.17</u> and <u>9.03</u> with respect to facts and circumstances occurring on or prior to the effective date of such assignment and (B) subject to its obligations thereunder and under <u>Section</u> <u>9.13</u>). If any assignment by any Holder holding any Promissory Note is made after the issuance of such Promissory Note,

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the assigning Holder shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender such Promissory Note to the Administrative Agent for cancellation, and, following such cancellation, if requested by either the assignee or the assigning Holder, the Issuer shall issue and deliver a new Promissory Note to such assignee and/or to such assigning Holder, with appropriate insertions, to reflect the new commitments and/or outstanding Notes of the assignee and/or the assigning 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;(iv) The Administrative Agent, acting for this purpose as a non-fiduciary agent of the Issuer, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Holders and their respective successors and assigns, and the Commitments of, and principal amount of and stated interest on the Notes owing to, each Holder pursuant to the terms hereof from time to time (the "**Register**"). The entries in the Register shall be conclusive, absent manifest error, and the Issuer, the Administrative Agent and the Holders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Holder hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Issuer, each Holder (but only as to its own holdings), at any reasonable time and from time to time upon reasonable prior written 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;(v) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Holder and an Eligible Assignee, the Eligible Assignee's completed Administrative Questionnaire and any tax forms required by <u>Section</u> <u>9.05(b)(ii)(D)(2)</u> (unless the assignee is already a Holder hereunder), the processing and recordation fee referred to in <u>paragraph (b)</u> of this <u>Section</u> <u>9.05</u>, if applicable, and any written consent to the relevant assignment required by <u>paragraph (b)</u> of this <u>Section</u> <u>9.05</u>, the Administrative Agent shall promptly accept such Assignment and Assumption and record the information contained therein in the Register. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph.

&nbsp;&nbsp;&nbsp;&nbsp;&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) By executing and delivering an Assignment and Assumption, the assigning Holder and the Eligible Assignee thereunder shall be deemed to confirm and agree with each other and the other parties hereto as follows: (A) such assigning Holder warrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim and that the amount of its commitments, and the outstanding balances of its Notes, in each case without giving effect to any assignment thereof which has not become effective, are as set forth in such Assignment and Assumption, (B) except as set forth in <u>clause</u> <u>(A)</u> above, such assigning Holder makes no representation or warranty and assumes no responsibility with respect to any statement, warranty or representation made in or in connection with this Agreement, or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, any other Notes Document or any other instrument or document furnished pursuant hereto, or the financial condition of Holdings, the Issuer or any Restricted Subsidiary or the performance or observance by Holdings, the Issuer or any Restricted Subsidiary of any of its obligations under this Agreement, any other Notes Document or any other instrument or document furnished pursuant hereto; (C) such assignee represents and warrants that it is an Eligible Assignee, legally authorized to enter into such Assignment and Assumption; (D) such assignee confirms that it has received a copy of this Agreement, together with copies of the financial statements referred to in <u>Section</u> <u>4.01(c)</u> or the most recent financial statements delivered pursuant to <u>Section</u> <u>5.01</u> and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such Assignment and Assumption; (E) such assignee will independently and without reliance upon the Administrative Agent, the assigning Holder or any other Holder and based on such documents and information as it deems appropriate at the time, continue to make its

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own credit decisions in taking or not taking action under this Agreement; (F) such assignee appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under this Agreement as are delegated to the Administrative Agent, by the terms hereof, together with such powers as are reasonably incidental thereto; and (G) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Agreement are required to be performed by it as a Holder.

&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;(i) Any Holder may, without the consent of the Issuer, the Administrative Agent or any Holder, sell participations to any bank or other entity (other than to any Disqualified Institution, any natural Person or the Issuer or any of its Affiliates) (a "**Participant**") in all or a portion of such Holder's rights and obligations under this Agreement (including all or a portion of its commitments and the Notes owing to it); <u>provided</u> that (A) such Holder's obligations under this Agreement shall remain unchanged, (B) such Holder shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Issuer, the Administrative Agent and the other Holders shall continue to deal solely and directly with such Holder in connection with such Holder's rights and obligations under this Agreement. Any agreement or instrument pursuant to which any Holder sells such a participation shall provide that such Holder shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; <u>provided</u> that such agreement or instrument may provide that such Holder will not, without the consent of the relevant Participant, agree to any amendment, modification or waiver described in (x) <u>clause</u> <u>(A)</u> of the first proviso to <u>Section</u> <u>9.02(b)</u> that directly and adversely affects the Notes or commitments in which such Participant has an interest and (y) <u>clause (B)(1)</u>, <u>(2)</u> or <u>(3)</u> of the first proviso to <u>Section</u> <u>9.02(b)</u>. Subject to <u>paragraph</u> <u>(c)(ii)</u> of this <u>Section</u> <u>9.05</u>, each Issuer agrees that each Participant shall be entitled to the benefits of <u>Sections</u> <u>2.15</u>, <u>2.16</u> and <u>2.17</u> (subject to the requirements and limitations therein, including the requirements under <u>Section</u> <u>2.17(k)</u> (it being understood that the documentation required under <u>Section</u> <u>2.17(k)</u> shall be delivered to the participating Holder)) to the same extent as if it were a Holder and had acquired its interest by assignment pursuant to <u>paragraph (b)</u> of this <u>Section</u> <u>9.05</u>; <u>provided</u> that such Participant (A) agrees to be subject to the provisions of <u>Section</u> <u>2.19</u> as if it were an assignee under paragraph (b) of this <u>Section</u> and (B) shall not be entitled to receive any greater payment under <u>Section</u> <u>2.17</u>, with respect to its participation, than its participating Holder 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. Each Holder that sells a participation agrees, at the Issuer's request and expense, to use reasonable efforts to cooperate with the Issuer to effectuate the provisions of <u>Section</u> <u>2.19(b)</u> with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of <u>Section</u> <u>9.09</u> as though it were a Holder; <u>provided</u> that such Participant agrees to be subject to <u>Section</u> <u>2.18(c)</u> as though it were a 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;(ii) No Participant shall be entitled to receive any greater payment under <u>Section</u> <u>2.16</u> than the participating Holder 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 Issuer's prior written consent expressly acknowledging that such Participant's entitlement to benefits under <u>Sections 2.16</u> is not limited to what the participating Holder would have been entitled to receive absent the participation.

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Each Holder that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Issuer, maintain a register on which it enters the name and address of each Participant and their respective successors and assigns, and the principal amounts and stated interest of each Participant's interest in the Notes or other obligations under the Notes Documents (the "**Participant Register**"); <u>provided</u> that no Holder 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 any Participant's interest in any Commitment, Note or any other obligation under any Notes Document) to any Person except to the extent that such disclosure is necessary to establish that such Commitment, Note or other obligation is in registered form under Section 5f.103-1(c), Section 1.871-14(c), or proposed Section 1.163-5 of the Treasury Regulations, as applicable. The entries in the Participant Register shall be conclusive absent manifest error, and each Holder shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Any Holder may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (other than to any Disqualified Institution or any natural person) to secure obligations of such Holder, including without limitation any pledge or assignment to secure obligations to any Federal Reserve Bank or other central bank having jurisdiction over such Holder, and this <u>Section</u> <u>9.05</u> shall not apply to any such pledge or assignment of a security interest; <u>provided</u> that no such pledge or assignment of a security interest shall release any Holder from any of its obligations hereunder or substitute any such pledgee or assignee for such Holder as a party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Notwithstanding anything to the contrary contained herein, any Holder (a "**Granting Holder**") may grant to a special purpose funding vehicle (an "**SPC**"), identified as such in writing from time to time by the Granting Holder to the Administrative Agent and the Issuer, the option to provide to the applicable Issuer all or any part of any Note that such Granting Holder would otherwise be obligated to make to such Issuer pursuant to this Agreement; <u>provided</u> that (i) nothing herein shall constitute a commitment by any SPC to make any Note and (ii) if an SPC elects not to exercise such option or otherwise fails to provide all or any part of such Note, the Granting Holder shall be obligated to make such Note pursuant to the terms hereof. The making of any Note by an SPC hereunder shall utilize the Commitment of the Granting Holder to the same extent, and as if, such Note were made by such Granting Holder. Each party hereto hereby agrees that (i) neither the grant to any SPC nor the exercise by any SPC of such option shall increase the costs or expenses or otherwise increase or change the obligations of the Issuer under this Agreement (including its obligations under <u>Section</u> <u>2.15</u>, <u>2.16</u> or <u>2.17</u>) and no SPC shall be entitled to any greater amount under <u>Section</u> <u>2.13</u>, <u>2.14</u> or <u>2.15</u> or any other provision of this Agreement or any other Notes Document that the Granting Holder would have been entitled to receive, (ii) no SPC shall be liable for any indemnity or similar payment obligation under this Agreement (all liability for which shall remain with the Granting Holder) and (iii) the Granting Holder shall for all purposes including approval of any amendment, waiver or other modification of any provision of the Notes Documents, remain the Holder of record hereunder. In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior indebtedness of any SPC, it will not institute against, or join any other Person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under the laws of the U.S. or any State thereof; <u>provided</u> that (i) such SPC's Granting Holder is in compliance in all material respects with its obligations to the Issuer hereunder and (ii) each Holder designating any SPC hereby agrees to indemnify, save and hold harmless each other party hereto for any loss, cost, damage or expense arising out of its inability to institute such a proceeding against such SPC during such period of forbearance. In addition, notwithstanding anything to the contrary contained in this <u>Section</u> <u>9.05</u>, any SPC may (i) with notice to, but without the prior written consent of, the Issuer or the Administrative Agent and without paying any processing fee therefor, assign all or a portion of its interests in any Note to the Granting Holder and (ii) disclose on a confidential basis any non-public information relating to its Notes to any rating agency, commercial paper dealer or provider of any surety, guaranty or credit or liquidity enhancement to such SPC.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Disqualified Institutions</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;(i) No assignment or participation shall be made to any Person that was a Disqualified Institution as of the date (the "**Trade Date**") on which the assigning Holder entered into a binding agreement to sell and assign all or a portion of its rights and obligations under this Agreement to such Person (unless the Issuer has consented to such assignment in writing in its sole and absolute discretion, in which case such Person will not be considered a Disqualified Institution for the purpose of such assignment or participation). For the avoidance of doubt, with respect to any assignee that becomes a Disqualified Institution after the applicable Trade Date, (x) such assignee shall not retroactively be disqualified from becoming a Holder and (y) the execution by the Issuer of an Assignment and Assumption with respect to such assignee will not by itself result in such assignee no longer being considered a Disqualified Institution. Any assignment in violation of this clause (f)(i) shall not be void, but the other provisions of this clause (f) shall apply.

&nbsp;&nbsp;&nbsp;&nbsp;&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) If any assignment or participation is made to any Disqualified Institution without the Issuer's prior written consent in violation of clause (i) above, or if any Person becomes a Disqualified Institution after the applicable Trade Date, the Issuer may, at its sole expense and effort, upon notice to the applicable Disqualified Institution and the Administrative Agent, (A) terminate any Variable Note Commitment of such Disqualified Institution and repay all obligations of the Issuer owing to such Disqualified Institution in connection with such Variable Note Commitment, (B) in the case of outstanding Term Notes held by Disqualified Institutions, purchase or prepay such Term Note by paying the lowest of (x) the principal amount thereof, (y) the amount that such Disqualified Institution paid to acquire such Term Notes and (z) the market price of such Term Notes, in each case plus accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it hereunder and/or (C) require such Disqualified Institution to assign, without recourse (in accordance with and subject to the restrictions contained in this <u>Section</u> <u>9.05</u>), all of its interest, rights and obligations under this Agreement to one or more Eligible Assignees at the lowest of (x) the principal amount thereof, (y) the amount that such Disqualified Institution paid to acquire such interests, rights and obligations and (z) the market price of such Term Notes, in each case plus accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it 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;(iii) Notwithstanding anything to the contrary contained in this Agreement, Disqualified Institutions (A) will not (x) have the right to receive information, reports or other materials provided to Holders by the Issuer, the Administrative Agent or any other Holder, (y) attend or participate in meetings attended by the Holders and the Administrative Agent, or (z) access any electronic site established for the Holders or confidential communications from counsel to or financial advisors of the Administrative Agent or the Holders and (B) (x) for purposes of any consent to any amendment, waiver or modification of, or any action under, and for the purpose of any direction to the Administrative Agent or any Holder to undertake any action (or refrain from taking any action) under this Agreement or any other Notes Document, each Disqualified Institution will be deemed to have consented in the same proportion as the Holders that are not Disqualified Institutions consented to such matter, and (y) for purposes of voting on any plan of reorganization, each Disqualified Institution party hereto hereby agrees (1) not to vote on such plan of reorganization, (2) if such Disqualified Institution does vote on such plan of reorganization notwithstanding the restriction in the foregoing clause (1), such vote will be deemed not to be in good faith and shall be "designated" pursuant to Section 1126(e) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws), and such vote shall not be counted in determining whether the applicable class has accepted or rejected such plan of reorganization in accordance with Section 1126(c) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws) and (3) not to contest any request by any party for a determination by the Bankruptcy Court (or other applicable court of competent jurisdiction) effectuating the foregoing clause (2).

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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;(iv) The Administrative Agent shall have the right, and the Issuer hereby expressly authorizes the Administrative Agent, to (A) post the list of Disqualified Institutions provided by the Issuer and any updates thereto from time to time (collectively, the "**DQ List**") on the Platform, including that portion of the Platform that is designated for "public side" Holders and/or (B) provide the DQ List to each Holder 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;(v) 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 Institutions. Without limiting the generality of the foregoing, the Administrative Agent shall not (x) be obligated to ascertain, monitor or inquire as to whether any Holder or Participant or prospective Holder or Participant is a Disqualified Institution or (y) have any liability with respect to or arising out of any assignment or participation of Notes, or disclosure of confidential information, to any Disqualified Institution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Notwithstanding anything to the contrary contained herein, any Holder may, at any time, assign all or a portion of its rights and obligations under this Agreement in respect of its Initial Term Notes or Additional Term Notes of any Class to an Affiliated Holder on a non-*pro rata* basis (A) through Dutch Auctions open to all Holders holding the relevant Initial Term Notes or such Additional Term Notes, as applicable, on a *pro rata* basis or (B) through open market purchases, in each case with respect to <u>clauses (A)</u> and <u>(B)</u>, without the consent of the Administrative Agent; <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;(i) any Initial Term Notes or Additional Term Notes acquired by an Affiliated Holder shall be retired and cancelled immediately upon the acquisition thereof; <u>provided</u> that upon any such retirement and cancellation, the aggregate outstanding principal amount of the Initial Term Notes or Additional Term Notes, as applicable, shall be deemed reduced by the full par value of the aggregate principal amount of the Initial Term Notes or Additional Term Notes so retired and cancelled, and each principal repayment installment with respect to the Term Notes pursuant to <u>Section</u> <u>2.10(a)</u> shall be reduced on a *pro rata* basis by the full par value of the aggregate principal amount of Term Notes so cancelled;

&nbsp;&nbsp;&nbsp;&nbsp;&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) the relevant Affiliated Holder and assigning Holder shall have executed an Affiliated Holder 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;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the aggregate amount of Term Notes that may be purchased through open market repurchases pursuant to this <u>Section</u> <u>9.05(g)</u> shall not exceed 20% of the aggregate principal amount of the Term Notes then 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;&nbsp;&nbsp;&nbsp;&nbsp;(iv) in connection with any assignment effected pursuant to a Dutch Auction and/or open market purchase conducted by Holdings, the Issuer or any of its Restricted Subsidiaries, (A) the relevant Person may not use the proceeds of any Variable Notes or Additional Variable Notes to fund such assignment and (B) no Default or Event of Default exists at the time of acceptance of bids for the Dutch Auction or the confirmation of such open market purchase, as 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;(v) the Affiliated Holder shall either (i) make a customary representation to the seller at the time of the assignment that it does not possess material non-public information (or, if any Parent Company or the applicable Issuer is not at the time a public-reporting company, material information of a type that would not be reasonably expected to be publicly available if the Issuer were a public reporting company) with respect to any Parent Company, the Issuer and/or any subsidiary thereof and/or their respective securities that has not been disclosed to the seller or the Holders generally (other than Holders that have elected not to receive such information) in connection with any assignment permitted by this <u>Section</u> <u>9.05(g)</u> or (ii) the related assignment agreement shall contain a customary "big boy" representation (but no requirement to make a representation as to the absence of any material non-public 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;&nbsp;&nbsp;&nbsp;&nbsp;(vi) at the time such assignment is consummated and after giving effect thereto, the Issuer and their Restricted Subsidiaries shall be in pro forma compliance with <u>Section</u> <u>6.14</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) In addition:

&nbsp;&nbsp;&nbsp;&nbsp;&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) In respect of a Variable Note made to or issued for the account of a particular Issuer (collectively, "**Designated Note Issuances**"), a Variable Note Holder (a "**Designating Holder**") may at any time and from time to time designate (by written notice to the Administrative Agent and the Issuer):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) a substitute office or branch from or through which it will make, issue and/or participate in such Designated Note Issuances (a "**Substitute Facility Office**"); 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) nominate an Affiliate to act as the Holder of Designated Note Issuances (a "**Substitute Affiliate 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;(ii) A notice to nominate a Substitute Affiliate Holder must be in the form set forth in <u>Exhibit K</u> and be countersigned by the relevant Substitute Affiliate Holder confirming it shall be bound as a Holder under this Agreement and any applicable Intercreditor Agreement in respect of the Designated Note Issuances in respect of which it shall act as 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;(iii) Each Designating Holder will act as the representative of any Substitute Affiliate Holder it nominates for all administrative purposes under this Agreement. The Note Parties, the Administrative Agent and the other Secured Parties will be entitled to deal only with such Designating Holder, except that payments will be made in respect of the applicable Designated Note Issuances to the Substitute Facility Office of the applicable Substitute Affiliate Holder. In particular, the Commitments of any Designating Holder will not be treated as having been reduced or terminated by the introduction of a Substitute Affiliate Holder under this Agreement or the other Notes 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;(iv) Except as expressly set forth in clause (iii) above, a Substitute Affiliate Holder will be treated as a Holder for all purposes under the Notes Documents and having a Commitment equal to the principal amount of all Designated Note Issuances in which it is providing and/or participating in, if and for so long as it continues to be a Substitute Affiliate Holder under this Agreement; provided that upon any designation of a Substitute Affiliate Holder, the Designating Holder shall at all times remain obligated to fund Variable Notes, in each case that are not funded or issued, respectively by the applicable Substitute Affiliate Holder, for the account of each applicable Issuer in the full amount of its Commitment, which, for the avoidance of doubt, shall include the principal amount of all Designated Note Issuances by such Designating Holder.

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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;(v) A Designating Holder may revoke its designation of an Affiliate as a Substitute Affiliate Holder by notice in writing to the Administrative Agent and the Issuer; <u>provided</u> that such notice may only take effect when there are no Designated Note Issuances outstanding to or in favor of such Substitute Affiliate Holder. Upon such Substitute Affiliate Holder ceasing to be a Substitute Affiliate Holder, the applicable Designating Holder will automatically assume (and be deemed to assume without further action by any party hereto) all rights and obligations previously vested in the Substitute Affiliate 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;(vi) If a Designating Holder designates a Substitute Facility Office or Substitute Affiliate Holder in accordance with this <u>Section</u> <u>9.05(i)</u>, any Substitute Affiliate Holder shall be treated for the purposes of <u>Section</u> <u>2.17</u> as having become a Holder on the date on which the applicable Designating Holder became a Holder 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;(vii) Notwithstanding the foregoing, for purposes of the English Security Documents: Each Note Party hereby irrevocably and unconditionally undertakes to pay to each Designating Holder (each a "**Relevant Holder**"), as creditor in its own right, sums equal to and in the currency of each amount payable by such Note Party to each of such Relevant Holder's nominated Substitute Affiliate Holders under each of the Notes Documents as and when such amounts fall due for payment under the relevant Notes Document (or would have fallen due but for any discharge resulting from the failure of the Substitute Affiliate Holder to take appropriate steps) in insolvency proceedings affecting the relevant Note Party, to preserve its entitlement to be paid that amount. Each Relevant Holder shall have its own independent right to demand payment of the amounts payable by each Note Party under this <u>Section</u> <u>9.05(i)(vii)</u> (irrespective of any discharge of that Note Party's obligation to pay those amounts to any Substitute Affiliate Holder related to such Relevant Holder resulting from the failure by such Relevant Holder to take appropriate steps) in insolvency proceedings affecting that Note Party, to preserve its entitlement to be paid those amounts. Any amount due and payable by a Note Party to a Relevant Holder under this <u>Section</u> <u>9.05(i)(vii)</u> shall be decreased to the extent that the relevant Substitute Affiliate Holder has received (and, in any insolvency proceedings of such Note Party, is able to retain) payment in full of the corresponding amount under the Notes Documents and any amount due and payable by a Note Party to the relevant Substitute Affiliate Holder under the Notes Documents shall be decreased to the extent that the applicable Relevant Holder has received (and, in any insolvency proceedings of such Note Party, is able to retain) payment in full of the corresponding amount under this <u>Section</u> <u>9.05(i)(vii)</u>. For the avoidance of doubt, notwithstanding anything to the contrary in this <u>Section</u> <u>9.05(i)(vii)</u>, in no event shall any Note Party be obligated to pay to any Relevant Holder and any of such Relevant Holder's Substitute Affiliate Holders an aggregate amount in excess of the amount that such Note Party would have been required to pay to such Relevant Holder had such Relevant Holder not designated any Substitute Affiliate Holders.

&nbsp;&nbsp;&nbsp;&nbsp;&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) Each Lux Note Party, upon joining this Agreement, expressly accepts, agrees and confirms, and each other party hereby expressly reserves, for the purposes of articles 1278 et s. and 1281 of the Luxembourg civil code, that notwithstanding any assignment, transfer and/or novation permitted under, and made in accordance with the provisions of, this Agreement, any security created or guarantee given in relation to this Agreement or any other Notes Document shall be preserved for the benefit of any assignee.

Section 9.06 <u>Survival</u>. All covenants, agreements, representations and warranties made by the Note Parties in the Notes Documents and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Notes Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of the Notes Documents and the making of any Notes regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent may have had notice or knowledge of any Default or Event of Default or incorrect representation or warranty at the time any credit is extended

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hereunder, and (subject to the immediately following sentence) shall continue in full force and effect until the Termination Date. The provisions of <u>Sections</u> <u>2.15</u>, <u>2.16</u>, <u>2.17</u>, <u>9.03</u> and <u>9.13</u> and <u>Article 8</u> shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Notes and the Variable Note Commitment or any Additional Note Commitment, the occurrence of the Termination Date or the termination of this Agreement or any provision hereof but in each case, subject to the limitations set forth in this Agreement.

Section 9.07 <u>Counterparts; Integration; Effectiveness</u>. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement, the other Notes Documents and the Fee Letters and any separate letter agreements with respect to fees payable to the Administrative Agent constitute the entire agreement among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. This Agreement shall become effective when it has been executed by the Issuer and the Administrative Agent and when the Administrative Agent has received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Delivery of an executed counterpart of a signature page to this Agreement by facsimile or by email as a ".pdf" or ".tif" attachment 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 this Agreement, any other Notes Document or any other document to be signed in connection with this Agreement or any other Notes Document and the transactions contemplated hereby or thereby, or in any Assignment and Assumption or amendment or other modification hereof (including waivers and consents), shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based 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; <u>provided</u> that, notwithstanding anything contained herein to the contrary, the Administrative Agent is under no obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Administrative Agent pursuant to procedures approved by it.

Section 9.08 <u>Severability</u>. To the extent permitted by law, any provision of any Notes Document held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions thereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

Section 9.09 <u>Right of Setoff</u>. At any time when an Event of Default exists, upon the written consent of the Administrative Agent, each Holder and each of their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations (in any currency) at any time owing by the Administrative Agent or such Holder or Affiliate (including by branches and agencies of the Administrative Agent or such Holder, wherever located) to or for the credit or the account of the Issuer or any Note Party against any of and all the Secured Obligations held by the Administrative Agent or such Holder or Affiliate, irrespective of whether or not the Administrative Agent or such Holder or Affiliate shall have made any demand under the Notes Documents and although such obligations may be contingent or unmatured or are owed to a branch or office of such Holder different than the branch or office holding such deposit or obligation on such Indebtedness. Any

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applicable Holder or Affiliate shall promptly notify the Issuer and the Administrative Agent of such set-off or application; <u>provided</u> that any failure to give or any delay in giving such notice shall not affect the validity of any such set-off or application under this <u>Section</u> <u>9.09</u>. The rights of each Holder, the Administrative Agent and each Affiliate under this <u>Section</u> <u>9.09</u> are in addition to other rights and remedies (including other rights of setoff) which such Holder, the Administrative Agent or such Affiliate may have.

Section 9.10 <u>Governing Law; Jurisdiction; Consent to Service of Process</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) THIS AGREEMENT AND THE OTHER NOTES DOCUMENTS (OTHER THAN AS EXPRESSLY SET FORTH IN OTHER NOTES DOCUMENTS) AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT AND THE OTHER NOTES DOCUMENTS (OTHER THAN AS EXPRESSLY SET FORTH IN THE OTHER NOTES DOCUMENTS), WHETHER IN TORT, CONTRACT (AT LAW OR IN EQUITY) OR OTHERWISE, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF ANY U.S. FEDERAL OR NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK (OR ANY APPELLATE COURT THEREFROM) OVER ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY NOTES DOCUMENTS OR THE TRANSACTIONS RELATING HERETO OR THERETO AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING SHALL (EXCEPT AS PERMITTED BELOW) BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR, TO THE EXTENT PERMITTED BY LAW, FEDERAL COURT. EACH PARTY HERETO AGREES THAT SERVICE OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT BY REGISTERED MAIL ADDRESSED TO SUCH PERSON SHALL BE EFFECTIVE SERVICE OF PROCESS AGAINST SUCH PERSON FOR ANY SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT. EACH PARTY HERETO AGREES THAT, SUBJECT TO CLAUSE (e) BELOW, A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. EACH PARTY HERETO AGREES THAT THE ADMINISTRATIVE AGENT RETAINS THE RIGHT TO BRING PROCEEDINGS AGAINST ANY NOTE PARTY IN THE COURTS OF ANY OTHER JURISDICTION SOLELY IN CONNECTION WITH THE EXERCISE OF ANY RIGHTS UNDER ANY COLLATERAL DOCUMENT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT IT MAY LEGALLY AND EFFECTIVELY DO SO, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER NOTES DOCUMENT IN ANY COURT REFERRED TO IN <u>PARAGRAPH (B)</u> OF THIS <u>SECTION</u> <u>9.10</u>. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY CLAIM OR DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION, SUIT OR PROCEEDING IN ANY SUCH COURT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) TO THE EXTENT PERMITTED BY LAW, EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS UPON IT AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL) DIRECTED TO IT AT ITS ADDRESS FOR NOTICES AS PROVIDED FOR IN <u>SECTION</u> <u>9.01</u>. EACH PARTY HERETO HEREBY WAIVES ANY

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OBJECTION TO SUCH SERVICE OF PROCESS AND FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING COMMENCED HEREUNDER OR UNDER ANY NOTES DOCUMENT THAT SERVICE OF PROCESS WAS INVALID AND INEFFECTIVE. NOTHING IN THIS AGREEMENT OR ANY OTHER NOTES DOCUMENT WILL AFFECT THE RIGHT OF ANY PARTY TO THIS AGREEMENT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Each of the Issuer hereby irrevocably and unconditionally appoints Indivior US Holdings Inc., with an office on the date hereof at 10710 Midlothian Turnpike, Suite 125, North Chesterfield, Virginia 23235, and its successors hereunder (the "**Process Agent**"), as its agent to receive on behalf of the Issuer and their respective property all writs, claims, process and summonses in any action or proceeding brought against it in the State of New York. Such service may be made by mailing or delivering a copy of such process to the Issuer in care of the Process Agent at the address specified above for the Process Agent, and each of the Issuer irrevocably authorizes and directs the Process Agent to accept such service on its behalf. Failure by the Process Agent to give notice to the Issuer or failure of the Issuer to receive notice of such service of process shall not impair or affect the validity of such service on the Process Agent or the Issuer, or of any judgment based thereon. The Issuer covenants and agrees that it shall take any and all reasonable action, including the execution and filing of any and all documents, that may be necessary to continue the delegation of the Process Agent above in full force and effect, and to cause the Process Agent to act as such. The Issuer hereto further covenants and agrees to maintain at all times an agent with offices in the United States to act as its Process Agent. Nothing herein shall in any way be deemed to limit the ability to serve any such writs, process or summonses in any other manner permitted by applicable law.

Section 9.11 <u>Waiver of Jury Trial</u>. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY) DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER NOTES DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY HERETO (a) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HERETO 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 BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>SECTION 9.11</u>.

Section 9.12 <u>Headings</u>. Article and Section headings and the **Table of Contents** used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement.

Section 9.13 <u>Confidentiality</u>. Each of the Administrative Agent, each Holder agrees (and each Holder agrees to cause its SPC, if any) to maintain the confidentiality of the Confidential Information (as defined below), except that Confidential Information may be disclosed (a) to its Affiliates and its and its Affiliates' respective directors, officers, managers, employees, independent auditors, or other experts and advisors, including accountants, legal counsel and other advisors (collectively, the "**Representatives**") on a "need to know" basis solely in connection with the transactions contemplated hereby and who are informed of the confidential nature of the Confidential Information and are or have been advised of their obligation to keep the Confidential Information of this type confidential; <u>provided</u> that such Person shall be responsible for its Affiliates' and their Representatives' compliance with this

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paragraph; <u>provided</u>, <u>further</u>, that unless the Issuer otherwise consents, no such disclosure shall be made by the Administrative Agent, any Holder or any Affiliate or Representative thereof to any Affiliate or Representative of the Administrative Agent or any Holder that (i) is engaged as a principal primarily in private equity, mezzanine financing or venture capital or (ii) is a Disqualified Institution, (b) upon the demand or request of any regulatory or governmental authority (including any self-regulatory body) purporting to have jurisdiction over such Person or its Affiliates (in which case such Person shall, except with respect to any audit or examination conducted by bank accountants or any Governmental Authority or regulatory or self-regulatory authority exercising examination or regulatory authority, to the extent practicable and permitted by law, (i) inform the Issuer promptly in advance thereof and (ii) use commercially reasonable efforts to ensure that any information so disclosed is accorded confidential treatment), (c) to the extent compelled by legal process in, or reasonably necessary to, the defense of such legal, judicial or administrative proceeding, in any legal, judicial or administrative proceeding or otherwise as required by applicable Requirements of Law (in which case such Person shall (i) to the extent practicable and permitted by law, inform the Issuer promptly in advance thereof and (ii) use commercially reasonable efforts to ensure that any such information so disclosed is accorded confidential treatment), (d) to any other party to this Agreement, (e) subject to an acknowledgment and agreement by the relevant recipient that the Confidential Information is being disseminated on a confidential basis (on substantially the terms set forth in this paragraph or as otherwise reasonably acceptable to the Issuer and the Administrative Agent), to (i) any Eligible Assignee of or Participant in, or any prospective Eligible Assignee of or prospective Participant in, any of its rights or obligations under this Agreement, including any SPC (in each case other than a Disqualified Institution), (ii) any pledgee referred to in <u>Section</u> <u>9.05</u>, (iii) any actual or prospective, direct or indirect contractual counterparty (or its advisors) to any Derivative Transaction (including any credit default swap) or similar derivative product to which any Note Party is a party and (iv) subject to the Issuer's prior approval of the information to be disclosed (not to be unreasonably withheld or delayed), to any rating agency on a confidential basis in connection with obtaining or maintaining private ratings, (f) with the prior written consent of the Issuer and (g) to the extent (1) the Confidential Information becomes publicly available other than as a result of a breach of this <u>Section</u> <u>9.13</u> by such Person, its Affiliates or their respective Representatives or (2) becomes available to the Administrative Agent, any Holder or any of their respective Affiliates from a third-party source that is not known to be subject to a confidentiality obligation to the Issuer and/or any of its subsidiaries. For purposes of this <u>Section</u> <u>9.13</u>, "**Confidential Information**" means all information relating to the Issuer and/or any of their subsidiaries and their respective businesses, or the Transactions (including any information obtained by the Administrative Agent or any Holder, or any of their respective Affiliates or Representatives, based on a review of the books and records relating to the Issuer and/or any of its subsidiaries and their respective Affiliates from time to time, including prior to the date hereof) other than any such information that is publicly available to the Administrative Agent or Holder on a non-confidential basis prior to disclosure by the Issuer or any of its subsidiaries. For the avoidance of doubt, in no event shall any disclosure of any Confidential Information be made to Person that is a Disqualified Institution at the time of disclosure.

Section 9.14 <u>No Fiduciary Duty</u>. Each of the Administrative Agent, each Holder and their respective Affiliates (collectively, solely for purposes of this paragraph, the "**Holders**"), may have economic interests that conflict with those of the Note Parties, their stockholders and/or their respective affiliates. Each Note Party agrees that nothing in the Notes Documents or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between any Holder, on the one hand, and such Note Party, each Parent Company, their respective stockholders or their respective affiliates, on the other. Each Note Party acknowledges and agrees that: (i) the transactions contemplated by the Notes Documents (including the exercise of rights and remedies hereunder and thereunder) are arm's-length commercial transactions between the Holders, on the one hand, and the Note Parties and each Parent Company, on the other, and (ii) in connection therewith and with the process leading thereto, (x) no Holder has assumed an advisory or fiduciary responsibility in favor of any Note Party, any Parent Company, their respective stockholders or their respective affiliates with respect to the transactions

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contemplated hereby (or the exercise of rights or remedies with respect thereto) or the process leading thereto (irrespective of whether any Holder has advised, is currently advising or will advise any Note Party, its respective stockholders or its respective Affiliates on other matters) or any other obligation to any Note Party except the obligations expressly set forth in the Notes Documents and (y) each Holder is acting solely as principal and not as the agent or fiduciary of such Note Party, its respective management, stockholders, creditors or any other Person. Each Note Party acknowledges and agrees that such Note Party has consulted its own legal, tax 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. To the fullest extent permitted by law, the Issuer and Holdings hereby waive and release any claims that they may have against each of the Holders and their Affiliates with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.

Section 9.15 <u>Several Obligations</u>. The respective obligations of the Holders hereunder are several and not joint and the failure of any Holder to make any Note or perform any of its obligations hereunder shall not relieve any other Holder from any of its obligations hereunder.

Section 9.16 <u>Nonliability of Administrative Agent, Holders and Purchasers</u>.

The relationship between the Issuer on the one hand and the Purchasers, Holders and Administrative Agent on the other hand shall be solely that of borrower and lenders. This Agreement does not give rise now or in the future to an agency, joint venture or partnership relationship between any Note Party on the one hand and the Administrative Agent or any Purchaser or Holder or any of their Affiliates on the other hand. Neither the Administrative Agent nor any Purchaser or Holder shall have any fiduciary responsibility to Issuer. Neither the Administrative Agent nor any Purchaser or Holder (a) undertakes any responsibility to Issuer or any other Note Party to review or inform Issuer or any other Note Party of any matter in connection with any phase of any such Person's business or operations or (b) consents to any right of any Note Party, Purchaser or Holder or their Affiliates or Related Funds to inspect or audit any records or documents of the Administrative Agent or its Affiliates or Related Funds. Execution of this Agreement by Issuer constitutes a full, complete and irrevocable release of any and all claims which Issuer or any other Note Party may have at law or in equity in respect of all prior discussions and understandings, oral or written, relating to the subject matter of this Agreement and the other Notes Documents. Neither the Administrative Agent nor any Purchaser or Holder shall have any liability with respect to, and Issuer (on behalf of itself and each other Note Party) hereby waives, releases and agrees not to sue for, any special, indirect, punitive or consequential damages or liabilities. No Note Party shall rely on any work or analysis by the Administrative Agent or any Purchaser or Holder.

Section 9.17 <u>USA PATRIOT Act; Beneficial Ownership Regulation Compliance</u>. Each Holder that is subject to the requirements of the USA PATRIOT Act and the Beneficial Ownership Regulation hereby notifies the Note Parties that pursuant to the requirements of the USA PATRIOT Act and the Beneficial Ownership Regulation (if applicable), it is required to obtain, verify and record information that identifies each Note Party, which information includes the name and address of such Note Party and other information that will allow such Holder to identify such Note Party in accordance with the USA PATRIOT Act and the Beneficial Ownership Regulation.

Section 9.18 <u>Disclosure</u>. Each Note Party and each Holder hereby acknowledges and agrees that the Administrative Agent and/or its Affiliates from time to time may hold investments in, make other notes, loans to or have other relationships with any of the Note Parties and their respective Affiliates.

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Section 9.19 <u>Appointment for Perfection</u>. Each Holder hereby appoints each other Holder as its agent for the purpose of perfecting Liens for the benefit of the Administrative Agent, the Holders and the other Secured Parties, in assets which, in accordance with Article 9 of the UCC or any other applicable law can be perfected only by possession. If any Holder obtains possession of any Collateral, such Holder shall notify the Administrative Agent thereof; and, promptly upon the Administrative Agent's request therefor shall deliver such Collateral to the Administrative Agent or otherwise deal with such Collateral in accordance with the Administrative Agent's instructions.

Section 9.20 <u>Interest Rate Limitation</u>. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Note, together with all fees, charges and other amounts which are treated as interest on such Note under applicable law (collectively the "**Charged Amounts**"), shall exceed the maximum lawful rate (the "**Maximum Rate**") which may be contracted for, charged, taken, received or reserved by the Holder holding such Note in accordance with applicable law, the rate of interest payable in respect of such Note hereunder, together with all Charged Amounts payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charged Amounts that would have been payable in respect of such Note but were not payable as a result of the operation of this <u>Section</u> <u>9.19</u> shall be cumulated and the interest and Charged Amounts payable to such Holder in respect of other Notes or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Holder.

Section 9.21 <u>Conflicts</u>. Notwithstanding anything to the contrary contained herein or in any other Notes Document, in the event of any conflict or inconsistency between this Agreement and any other Notes Document, the terms of this Agreement shall govern and control.

Section 9.22 <u>Release of Guarantors</u>. Notwithstanding anything in <u>Section</u> <u>9.02(b)</u> to the contrary, any Subsidiary Guarantor shall automatically be released from its obligations hereunder (and its Note Guaranty shall be automatically released) (a) upon the consummation of any permitted transaction or series of related transactions if as a result thereof such Subsidiary Guarantor ceases to be a Restricted Subsidiary (or becomes an Excluded Subsidiary as a result of a single transaction or series of related transactions permitted hereunder; <u>provided</u>, that the release of any Subsidiary Guarantor from its obligations under the Note Guaranty if such Subsidiary Guarantor becomes an Excluded Subsidiary of the type described in <u>clause (a)</u> of the definition thereof shall only be permitted if at the time such Guarantor becomes an Excluded Subsidiary of such type (i) no Event of Default has occurred and is continuing or would result therefrom immediately after giving effect to such transaction, (ii) after giving pro forma effect to such release and the consummation of the transaction that causes such Person to be an Excluded Subsidiary of such type, the applicable Issuer is deemed to have made a new Investment in such Person for purposes of <u>Section 6.06</u> (as if such Person were then newly acquired) in an amount equal to the portion of the fair market value of the net assets of such Person attributable to such Issuer's equity interest therein as reasonably estimated by the applicable Issuer and such Investment is permitted pursuant to <u>Section 6.06</u> (other than <u>Section 6.06(f)</u>) at such time, (iii) such Subsidiary is or becomes an Excluded Subsidiary for a bona fide legitimate business purpose of the Issuer and its Restricted Subsidiaries and not for the primary purpose of causing such Subsidiary to be released as a Subsidiary Guarantor and/or evading the Collateral and Guarantee Requirement, (iv) such release constitutes an incurrence of Indebtedness and Liens (without duplication of amounts already utilized under baskets available to such Subsidiary after giving pro forma effect to such release), to the extent of any Indebtedness owed by such Subsidiary or Liens on the assets or properties of such Subsidiary, and an Investment made in such Released Subsidiary in an amount equal to the fair market value of the aggregate amount of Investments made by the remaining Note Parties in such subsidiary during the time that such subsidiary was a Guarantor (net of all returns (including repayments of principal and payments of interest) from such Investments and profits, dividends and distributions (whether in cash, Cash Equivalents or property (up to the fair market value thereof)) received by the remaining Note Parties from such subsidiary during the time that such subsidiary was a Guarantor), (v) such Investment, Indebtedness and Liens are permitted at such time and (vi) a Responsible Officer of the applicable Issuer certifies to the Administrative Agent compliance with preceding <u>clauses (i)</u> through <u>(v)</u>)

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and/or (b) upon the occurrence of the Termination Date. In connection with any such release, the Administrative Agent shall promptly execute and deliver to the relevant Note Party, at such Note Party's expense, all documents that such Note Party shall reasonably request to evidence termination or release; <u>provided</u>, that upon the request of the Administrative Agent, the Issuer shall deliver a certificate of a Responsible Officer certifying that the relevant transaction has been consummated in compliance with the terms of this Agreement. Any execution and delivery of documents pursuant to the preceding sentence of this <u>Section</u> <u>9.22</u> shall be without recourse to or warranty by the Administrative Agent (other than as to the Administrative Agent's authority to execute and deliver such documents).

Section 9.23 <u>Judgment</u> <u>Currency</u>. If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder or any other Notes Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of any Note Party in respect of any such sum due from it to the Administrative Agent or any Holder hereunder or under the other Notes Documents shall, notwithstanding any judgment in a currency (the "**Judgment Currency**") other than that in which such sum is denominated in accordance with the applicable provisions of this Agreement (the "**Agreement Currency**"), be discharged only to the extent that on the Business Day following receipt by the Administrative Agent or such Holder (as applicable) of any sum adjudged to be so due in the Judgment Currency, the Administrative Agent or such Holder (as applicable) may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative Agent or such Holder (as applicable) from any Note Party in the Agreement Currency, the Issuer agree jointly and severally, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or such Holder (as applicable) or such other person to whom such obligation was owing against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent or such Holder (as applicable) in such currency, the Administrative Agent or such Holder (as applicable) agrees to return the amount of any excess to such Note Party (or to any other person who may be entitled thereto under applicable law).

Section 9.24 <u>Waiver of Sovereign Immunity</u>. Each Note Party that is organized under the laws of any jurisdiction other than the United States of America or any state thereof (each, a "**Foreign Note Party**"), in respect of itself, its Subsidiaries, its process agents, and its properties and revenues, hereby irrevocably agrees that, to the extent that such Foreign Note Party or its respective Subsidiaries or any of its or its respective Subsidiaries' properties has or may hereafter acquire any right of immunity, whether characterized as sovereign immunity or otherwise, from any legal proceedings, whether in the United States or elsewhere, to enforce or collect upon the Notes or any other Secured Obligations or any Notes Document or any other liability or obligation of such Foreign Note Party, or any of their respective Subsidiaries related to or arising from the transactions contemplated by any of the Notes Documents, including, without limitation, immunity from service of process, immunity from jurisdiction or judgment of any court or tribunal, immunity from execution of a judgment, and immunity of any of its property from attachment prior to any entry of judgment, or from attachment in aid of execution upon a judgment, such Foreign Note Party, for itself and on behalf of its Subsidiaries, hereby expressly waives, to the fullest extent permissible under applicable law, any such immunity, and agrees not to assert any such right or claim in any such proceeding, whether in the United States or elsewhere. Without limiting the generality of the foregoing, each Foreign Note Party, as the case may be, further agrees that the waivers set forth in this <u>Section</u> <u>9.23</u> shall have the fullest extent permitted under the Foreign Sovereign Immunities Act of 1976 of the United States and are intended to be irrevocable for purposes of such Act.

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Section 9.25 <u>Acknowledgement and Consent to Bail-In of Affected Financial Institutions</u>. Notwithstanding anything to the contrary in any Notes Document or in any other agreement, arrangement or understanding among any parties hereto, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Notes Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of the applicable Resolution Authority and each party hereto 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;(a) 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;(b) 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;(i) 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;(ii) 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 Notes 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;(iii) 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 9.26 <u>Acknowledgement Regarding Any Supported QFCs</u>. To the extent that the Notes Documents provide support, through a guarantee or otherwise, for any 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 Credit 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;(a) 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 Credit 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 Credit 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 Holder shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As used in this Section 9.25, 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;(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;(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;(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 Intentionally Omitted]

## Exhibit 10.2

**Exhibit 10.2** 

**INDIVIOR PHARMACEUTICALS, INC.** 

**<u>INDEMNIFICATION AGREEMENT</u>**

This Indemnification Agreement (this "<u>Agreement</u>"), dated as of January 26, 2026, is made by and between Indivior Pharmaceuticals, Inc., a Delaware corporation (the "<u>Company</u>"), and a member of the Board of Directors or an officer of the Company ("<u>Indemnitee</u>").

**<u>RECITALS</u>**

The Company desires to attract and retain the services of highly qualified individuals, such as Indemnitee, and to indemnify its directors, officers and key employees so as to provide them with the maximum protection permitted by law.

**<u>AGREEMENT</u>**

In consideration of the mutual promises made in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and Indemnitee hereby agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **<u>Indemnification.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **<u>Third-Party Proceedings.</u>** To the fullest extent permitted by applicable law, as such may be amended from time to time, the Company shall indemnify Indemnitee, if Indemnitee was, is or is threatened to be made, a party to or a participant (as a witness or otherwise) in any Proceeding (other than a Proceeding by or in the right of the Company to procure a judgment in the Company's favor), against all Expenses, judgments, penalties, fines and amounts paid in settlement (if such settlement is approved in writing in advance by the Company, which approval shall not be unreasonably withheld) actually and reasonably incurred by Indemnitee in connection with such Proceeding if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding, had no reasonable cause to believe Indemnitee's conduct was unlawful.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **<u>Proceedings By or in the Right of the Company.</u>** To the fullest extent permitted by applicable law, the Company shall indemnify Indemnitee, if Indemnitee was, is or is threatened to be made a party to or a participant (as a witness or otherwise) in any Proceeding brought by or in the right of the Company to procure a judgment in the Company's favor, against all Expenses actually and reasonably incurred by Indemnitee in connection with such Proceeding if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, except that no indemnification shall be made in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudicated by court order or judgment to be liable to the Company unless, and only to the extent that, the Court of Chancery of the State of Delaware or the court in which such Proceeding is or was pending shall determine upon application by Indemnitee that in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnity for such expenses which such court shall deem proper.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **<u>Success on the Merits.</u>** In addition to Section 1(a) and Section 1(b) above, to the fullest extent permitted by applicable law and to the extent that Indemnitee has been successful on the merits or otherwise in defense of any Proceeding referred to in Section 1(a) or Section 1(b) or the defense of any claim, issue or matter therein, in whole or in part, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in connection therewith. Without limiting the generality of the foregoing, if Indemnitee is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in a Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee's behalf in connection with such successfully resolved claims, issues or matters to the fullest extent permitted by applicable law. If any Proceeding is disposed of, on the merits or otherwise (including a disposition without prejudice), without (i) the disposition being adverse to Indemnitee, (ii) an adjudication that Indemnitee was liable to the Company, (iii) a plea of guilty by Indemnitee, (iv) an adjudication that Indemnitee did not act in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and (v) with respect to any criminal Proceeding, an adjudication that Indemnitee had reasonable cause to believe Indemnitee's conduct was unlawful, Indemnitee shall be considered for the purposes hereof to have been wholly successful with respect thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **<u>Witness Expenses.</u>** To the fullest extent permitted by applicable law, to the extent that Indemnitee is a witness or otherwise asked to participate in any Proceeding to which Indemnitee is not a party, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in connection with such Proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **<u>Indemnification Procedure.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **<u>Advancement of Expenses.</u>** To the fullest extent permitted by applicable law, the Company shall advance all Expenses actually and reasonably incurred by Indemnitee in connection with a Proceeding in advance of the Final Disposition of the Proceeding within thirty (30) days after receipt by the Company of a statement or statements in writing requesting such advance or advances, from time to time, and such statement shall reasonably evidence the Expenses actually and reasonably incurred by Indemnitee and for which advancement is requested; provided, however, that Indemnitee shall not be required to provide any documentation or information to the extent that the provision thereof would waive attorney-client privilege. Such advances shall be unsecured and interest free and shall be made without regard to Indemnitee's ability to repay the Expenses and without regard to Indemnitee's ultimate entitlement to indemnification under the other provisions of this Agreement (subject to the undertaking required by this Section 2(a)). Indemnitee shall be entitled to continue to receive advancement of Expenses pursuant to this Section 2(a) unless and until the matter of Indemnitee's entitlement to indemnification hereunder has been finally adjudicated by court order or judgment from which no further right of appeal exists. Indemnitee hereby undertakes to repay such amounts advanced only if, and to the extent that, it has been ultimately determined by final judicial decision from which there is no further right to appeal that Indemnitee is not entitled to be indemnified by the Company under the other provisions of this Agreement; provided, that any repayments owed by Indemnitee to the Company in accordance with this Section 2(a) shall be repaid within thirty (30) days of such final determination. Indemnitee shall qualify for advances upon the execution and delivery of this Agreement, which shall constitute the requisite undertaking with respect to repayment of advances made hereunder and no other form of undertaking shall be required to qualify for advances made hereunder other than the execution of 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;(b) **<u>Notice and Cooperation by Indemnitee.</u>** Promptly after receipt by Indemnitee of notice of the commencement of any Proceeding, Indemnitee shall, if any indemnification, advancement or other claim in respect thereof is to be sought from or made against the Company hereunder, notify the Company in writing of the commencement thereof. Such notice to the Company shall include a description of the nature of, and facts underlying, the Proceeding (to the extent reasonably available), and shall be given in accordance with the provisions of Section 12(e) below. In addition, Indemnitee shall provide the Company such cooperation and reasonably available additional information as the Company may reasonably request. Indemnitee's failure to so notify, provide information and otherwise cooperate with the Company shall not relieve the Company of any obligation that it may have to Indemnitee under this Agreement, except to the extent that the Company is adversely affected by such failure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **<u>Determination of Entitlement; Independent Counsel; Burden of Proof; Defenses; Presumptions; Remedies of Indemnitee.</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;(i) **<u>Final Disposition.</u>** Notwithstanding any other provision in this Agreement, no determination as to entitlement to indemnification under this Agreement and no payment with respect to the indemnification rights provided for herein shall be required to be made prior to the Final Disposition of the Proceeding (excluding, for the avoidance of doubt, advancement of Expenses pursuant to Section 2(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;(ii) **<u>Request for Indemnification.</u>** To obtain indemnification under this Agreement, Indemnitee shall submit to the Company (following the Final Disposition of the applicable Proceeding) a written request for indemnification, including therein or therewith, except to the extent previously provided to the Company in connection with a request or requests for advancement pursuant hereto, a statement or statements reasonably evidencing all Expenses, judgments, penalties, fines, or settlement amounts actually and reasonably incurred by Indemnitee and for which indemnification is requested. Indemnitee shall not be required to provide any documentation or information to the extent that the provision thereof would waive 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;&nbsp;&nbsp;&nbsp;&nbsp;(iii) **<u>Determination of Entitlement.</u>** Upon written request by Indemnitee for indemnification pursuant to the first sentence of Section 2(c)(ii) hereof, if required by applicable law and to the extent not otherwise provided pursuant to the terms of this Agreement, a determination with respect to Indemnitee's entitlement to indemnification shall be made in the specific case as follows: (A) if a Change of Control shall have occurred, by Independent Counsel in a written opinion to the Board of Directors; or (B) if a Change of Control shall not have occurred, (I) by a majority vote of the Disinterested Directors, even though less than a quorum of the Board of Directors, or (II) by a committee of Disinterested Directors designated by majority vote of the Disinterested Directors, even though less than a quorum of the Board of Directors or (III) if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board of Directors. Notice in writing of any determination as to Indemnitee's entitlement to indemnification shall be delivered to Indemnitee promptly after such determination is made, and if such determination of entitlement to indemnification has been made by Independent Counsel in a written opinion to the Board of Directors, then such notice shall be accompanied by a copy of such written

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opinion. If it is determined that Indemnitee is entitled to indemnification, then payment to Indemnitee of all amounts to which Indemnitee is determined to be entitled shall be made within thirty (30) calendar days after such determination. If it is determined that Indemnitee is not entitled to indemnification, then the written notice to Indemnitee (or, if such determination has been made by Independent Counsel in a written opinion, the copy of such written opinion delivered to Indemnitee) shall disclose the basis upon which such determination is based. Indemnitee shall cooperate with the person, persons, or entity making the determination with respect to Indemnitee's entitlement to indemnification, including providing to such person, persons, or entity upon reasonable advance request any documentation or information that is not privileged or otherwise protected from disclosure and that is reasonably available to Indemnitee and reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification. Any costs or expenses (including attorneys' fees and disbursements) actually and reasonably incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee's entitlement to indemnification).

&nbsp;&nbsp;&nbsp;&nbsp;&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) **<u>Independent Counsel.</u>** If the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 2(c)(iii) hereof, the Independent Counsel shall be selected as provided in this Section 2(c)(iv). If a Change of Control shall not have occurred, then the Independent Counsel shall be selected by the Board of Directors, and the Company shall give written notice to Indemnitee advising Indemnitee of the identity of the Independent Counsel so selected. If a Change of Control shall have occurred, then the Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board of Directors, in which event the preceding sentence shall apply), and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be, may, within ten (10) calendar days after such written notice of selection has been given, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the law firm or person so selected does not meet the requirements of "Independent Counsel" as defined herein, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the law firm or person so selected may not serve as Independent Counsel unless and until such objection is withdrawn or the Court of Chancery of the State of Delaware or another court of competent jurisdiction in the State of Delaware has determined that such objection is without merit. If the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 2(c)(iii) hereof and, following the expiration of twenty (20) calendar days after submission by Indemnitee of a written request for indemnification pursuant to Section 2(c)(ii) hereof, Independent Counsel shall not have been selected, or an objection thereto has been made and not withdrawn, then either the Company or Indemnitee may petition the Court of Chancery of the State of Delaware or other court of competent jurisdiction in the State of Delaware for resolution of any objection that shall have been made by the Company or Indemnitee to the other's selection of Independent Counsel and/or for appointment as Independent

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Counsel of a law firm or person selected by such court (or selected by such person as the court shall designate), and the law firm or person with respect to whom all objections are so resolved or the law firm or person so appointed shall act as Independent Counsel under Section 2(c)(iii) hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 2(c)(viii) hereof, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing). If the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 2(c)(iii) hereof, then the Company agrees to pay the reasonable fees and expenses of such Independent Counsel and to fully indemnify and hold harmless such Independent Counsel against any and all Expenses, claims, liabilities, and damages arising out of or relating to this Agreement or its engagement pursuant 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;(v) **<u>Burden of Proof.</u>** In any judicial proceeding or arbitration pursuant to Section 2(c)(viii) brought by Indemnitee to enforce rights to indemnification or to an advancement of Expenses hereunder, or in any action, suit, or proceeding brought by the Company to recover an advancement of Expenses (whether pursuant to the terms of an undertaking or otherwise), the burden shall be on the Company to prove by clear and convincing evidence that Indemnitee is not entitled to be indemnified, or to such an advancement of Expenses, 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;(vi) **<u>Defenses.</u>** It shall be a defense in any judicial proceeding or arbitration pursuant to Section 2(c)(viii) to enforce rights to indemnification hereunder (but not in any judicial proceeding or arbitration seeking to enforce a right to an advancement of Expenses hereunder) that Indemnitee has not met the standards of conduct set forth in this Section 1(a) or Section 1(b), as the case may be, but the burden of proving such defense shall be on the Company. With respect to any judicial proceeding or arbitration pursuant to Section 2(c)(viii) brought by Indemnitee to enforce a right to indemnification hereunder, or any action, suit, or proceeding brought by the Company to recover an advancement of Expenses (whether pursuant to the terms of an undertaking or otherwise), neither (A) the failure of the Company (including by its directors or Independent Counsel) to have made a determination prior to the commencement of such action, suit, proceeding, or arbitration that indemnification is proper in the circumstances because Indemnitee has met the applicable standards of conduct under applicable law, nor (B) an actual determination by the Company (including by its directors or Independent Counsel) that Indemnitee has not met such applicable standards of conduct, shall create a presumption that Indemnitee has not met the applicable standards of conduct or, in the case of a judicial proceeding or arbitration pursuant to Section 2(c)(viii) brought by Indemnitee seeking to enforce a right to indemnification, be a defense to such proceeding or arbitration.

&nbsp;&nbsp;&nbsp;&nbsp;&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) **<u>Presumptions.</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) The termination of any Proceeding by judgment, order, settlement, conviction, or upon a plea of *nolo contendere* or its equivalent, shall not, of itself, adversely affect the right of Indemnitee to indemnification hereunder or create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee's conduct was unlawful.

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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) The knowledge and/or actions, or failure to act, of any other director, officer, agent, or employee of the Company or Enterprise shall not be imputed to Indemnitee for purposes of determining Indemnitee's right to indemnification under 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;(viii) **<u>Remedies of Indemnitee.</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) In the event that (I) a determination is made pursuant to this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (II) advancement of Expenses is not timely made pursuant hereto, (III) except when the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 2(c)(iii) hereof, no determination of entitlement to indemnification shall have been made pursuant to Section 2(c)(iii) of this Agreement within sixty (60) calendar days after receipt by the Company of Indemnitee's written request for indemnification in accordance with this Agreement, (IV) under circumstances in which the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 2(c)(iii) hereof, no determination of entitlement to indemnification shall have been made pursuant to Section 2(c)(iii) hereof within eighty (80) calendar days after receipt by the Company of Indemnitee's written request for indemnification in accordance with this Agreement (unless an objection to the selection of such Independent Counsel has been made and substantiated and not withdrawn, in which case the applicable time period shall be seventy (70) calendar days after the Court of Chancery of the State of Delaware or another court of competent jurisdiction in the State of Delaware (or such person appointed by such court to make such determination) has determined or appointed the person to act as Independent Counsel pursuant to Section 2(c)(iii) hereof), (V) payment of indemnification is not made pursuant to Section 1(c) or Section 1(d) of this Agreement within thirty (30) calendar days after receipt by the Company of a written request therefor, or (VI) payment of indemnification pursuant to Section 1(a) or Section 1(b) of this Agreement is not made within thirty (30) calendar days after a determination has been made pursuant to Section 2(c)(iii) that Indemnitee is entitled to indemnification, then Indemnitee shall be entitled to seek an adjudication by the Court of Chancery of the State of Delaware of Indemnitee's entitlement to such indemnification or advancement of Expenses. Alternatively, if the foregoing conditions have been satisfied, Indemnitee, at Indemnitee's option, may seek an award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association.

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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) In the event that a determination shall have been made pursuant to Section 2(c)(iii) of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 2(c)(viii) shall be conducted in all respects as a *de novo* trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse 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;(C) If a determination shall have been made pursuant to Section 2(c)(iii) of this Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 2(c)(viii), absent (I) a misstatement or misrepresentation by Indemnitee (or anyone acting on Indemnitee's behalf) of a material fact, or an omission of a material fact necessary to make Indemnitee's statement (or statements of persons acting on behalf of Indemnitee) not materially misleading, in connection with the request for indemnification or in connection with the provision of information or documentation pursuant to the last sentence of Section 2(c)(iii), or (II) a prohibition of such indemnification 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) If the determination of Indemnitee's entitlement to indemnification is to be determined by the Board of Directors or a committee thereof pursuant to this Section 2(c) and has not been made within ninety (90) days after the later of (a) receipt by the Company of Indemnitee's request for indemnification pursuant to Section 2(c)(ii) and (b) the final disposition of the Proceeding for which Indemnitee requested Indemnification (the "Determination Period"), the requisite determination of entitlement to indemnification will be deemed to have been made and Indemnitee will be entitled to such indemnification, absent (I) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee's statement not materially misleading, in connection with the request for indemnification and (II) a prohibition of such indemnification under applicable law in a Final Disposition. The Determination Period may be extended for a reasonable time, not to exceed an additional sixty (60) days, or longer as the Company and Indemnitee may agree, if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto. For the avoidance of doubt, this Section 2(c)(viii)(D) shall not apply to the determination of indemnification to be made by Independent 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;(E) In the event that Indemnitee, pursuant to this Section 2(c)(viii), seeks a judicial adjudication of or an award in arbitration to enforce Indemnitee's rights under, or to recover damages for breach of, this Agreement, then Indemnitee shall be entitled to (I) recover from the Company, and shall be indemnified by the Company against, any and all

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Expenses actually and reasonably incurred by or on behalf of such Indemnitee in such judicial adjudication or arbitration, but only if (and only to the extent) Indemnitee prevails therein and (II) advancement of Expenses pursuant to and in accordance with Section 2(a) hereof. If it shall be determined in said judicial adjudication or arbitration that Indemnitee is entitled to receive part but not all of the indemnification or advancement of Expenses sought, the Expenses incurred by Indemnitee in connection with such judicial adjudication or arbitration shall be appropriately prorated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **<u>Payment Directions.</u>** To the extent payments of Expenses are required to be made hereunder in advance of the Final Disposition of a Proceeding, the Company shall, in accordance with Indemnitee's request (but without duplication), (i) pay such Expenses on behalf of Indemnitee, (ii) advance to Indemnitee funds in an amount sufficient to pay such Expenses, or (iii) reimburse Indemnitee for such Expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **<u>Notice to Insurers.</u>** If, at the time of the receipt of a notice of a claim pursuant to Section 2(b) hereof, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of such claim or of the commencement of such Proceeding, as the case may be, to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies. The Company shall provide to Indemnitee: (i) copies of all potentially applicable directors' and officers' liability insurance policies, (ii) a copy of such notice delivered to the applicable insurers, and (iii) copies of all subsequent correspondence between the Company and such insurers regarding the Proceeding, in each case substantially concurrently with the delivery or receipt thereof by the Company. If requested by Indemnitee, within five (5) business days of such request the Company will instruct the insurance carriers and the Company's insurance broker that they may communicate directly with Indemnitee regarding such claim.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **<u>Defense of Claim and Selection of Counsel.</u>** In the event the Company shall be obligated under Section 2(a) hereof to advance Expenses with respect to any Proceeding, the Company, if appropriate, shall be entitled to assume the defense of such Proceeding, with counsel reasonably acceptable to Indemnitee, upon the delivery to Indemnitee of written notice of its election so to do, and upon Indemnitee providing signed, written consent to such assumption, which shall not be unreasonably withheld. After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same Proceeding, provided that (i) Indemnitee shall have the right to employ counsel in any such Proceeding at Indemnitee's expense; and (ii) if (A) the employment of counsel by Indemnitee has been previously authorized by the Company, (B) Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense or (C) the Company shall not, in fact, have employed counsel to assume the defense of such Proceeding, then the fees and expenses of Indemnitee's counsel shall be at the expense of the Company. In addition, if there exists a potential, but not an actual conflict of interest between the Company and Indemnitee, the actual and reasonable legal fees and expenses incurred by Indemnitee for separate counsel retained by Indemnitee to monitor the Proceeding (so that such counsel may assume Indemnitee's defense if the conflict of interest

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between the Company and Indemnitee becomes an actual conflict of interest) shall be deemed to be Expenses that are subject to indemnification and advancement hereunder. The existence of an actual or potential conflict of interest, and whether such conflict may be waived, shall be determined pursuant to the rules of attorney professional conduct and applicable law. The Company shall not be required to obtain the consent of Indemnitee for the settlement of any Proceeding the Company has undertaken to defend if the Company assumes full and sole responsibility for each such settlement; provided, however, that the Company shall be required to obtain Indemnitee's prior written approval, which shall not be unreasonably withheld, before entering into any settlement which (1) does not grant Indemnitee a complete release of liability, (2) would impose any penalty or limitation on Indemnitee, or (3) would admit any liability or misconduct by Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. **<u>Additional Indemnification Rights.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **<u>Scope.</u>** In the event of any change, after the date of this Agreement, in any applicable law, statute, or rule which expands the right of a Delaware corporation to indemnify a member of its board of directors or an officer, such changes shall be deemed to be within the purview of Indemnitee's rights and the Company's obligations under this Agreement. In the event of any change in any applicable law, statute or rule which narrows the right of a Delaware corporation to indemnify a member of its board of directors or an officer, such changes, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement shall have no effect on this Agreement or the parties' rights and obligations hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **<u>Nonexclusivity.</u>** The indemnification provided by this Agreement shall not be deemed exclusive of any rights to which Indemnitee may be entitled under the Company's Certificate of Incorporation, its Bylaws, any agreement, any vote of stockholders or disinterested members of the Company's Board of Directors, the DGCL, or otherwise, both as to action in Indemnitee's official capacity as an officer, director, employee or agent of the Company and as to action in another capacity while holding such office.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **<u>Interest on Unpaid Amounts.</u>** If any payment to be made by the Company to Indemnitee hereunder is delayed by more than ninety (90) days from the date the duly prepared request for such payment is received by the Company in accordance with this Agreement, interest shall be paid by the Company to Indemnitee at the legal rate under Delaware law for amounts which the Company indemnifies or is obligated to indemnify for the period commencing with the date on which Indemnitee actually incurs such Expense or pays such judgment, penalty, fine or amount in settlement and ending with the date on which such payment is made to Indemnitee by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. **<u>Partial Indemnification.</u>** If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of the Expenses, judgments, penalties, fines or amounts paid in settlement, actually and reasonably incurred in connection with a Proceeding, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion of such Expenses, judgments, penalties, fines and amounts paid in settlement to which Indemnitee is entitled, to the fullest extent permitted by applicable law.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. **<u>Director and Officer Liability Insurance.</u>** The Company shall, from time to time, make the good faith determination whether or not it is practicable for the Company to obtain and maintain a policy or policies of insurance with reputable insurance companies providing the directors and officers of the Company with coverage for losses from wrongful acts, or to ensure the Company's performance of its indemnification obligations under this Agreement. Among other considerations, the Company will weigh the costs of obtaining such insurance coverage against the protection afforded by such coverage. In all policies of director and officer liability insurance, Indemnitee shall be covered as an insured party in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company's directors, if Indemnitee is a director; or of the Company's officers, if Indemnitee is not a director of the Company but is an officer; or of the Company's key employees, if Indemnitee is not an officer or director but is a key employee. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain such insurance if the Company determines in good faith that: (a) such insurance is not reasonably available, (b) the premium costs for such insurance are disproportionate to the amount of coverage provided, (c) the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, or (d) the Company is to be acquired and insurance will be maintained by the acquirer that covers pre-closing acts and omissions by Indemnitee. In the event of a change of control or the Company's becoming insolvent, the Company shall, to the extent practicable as determined in good faith by the Company and subject to the final sentence of this Section 5, maintain in force any and all insurance policies for Indemnitee then maintained by the Company in providing insurance – directors' and officers' liability, fiduciary, employment practices or otherwise (such applicable policies, the "<u>Existing Policies</u>") – in respect of Indemnitee in his or her capacity as a director or officer of the Company, for a fixed period of six years thereafter (a "<u>Tail Policy</u>"). Such coverage shall be non-cancellable and shall be substantially comparable in scope and amount as the Existing Policies. For the avoidance of doubt, the obligation of the Company under this Section 5 to maintain a Tail Policy shall apply for the benefit of Indemnitee and the Company shall not be required under this Agreement to provide a Tail Policy to any other person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. **<u>Severability.</u>** Nothing in this Agreement is intended to require or shall be construed as requiring the Company to do or fail to do any act in violation of applicable law. The Company's inability, pursuant to court order, to perform its obligations under this Agreement shall not constitute a breach of this Agreement. If this Agreement or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify Indemnitee to the full extent permitted by any applicable portion of this Agreement that shall not have been invalidated, and the balance of this Agreement not so invalidated shall be enforceable in accordance with its terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. **<u>Exclusions.</u>** Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to 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;(a) **<u>Claims Initiated by Indemnitee.</u>** To indemnify or advance Expenses to Indemnitee with respect to Proceedings initiated by Indemnitee and not by way of defense, except with respect to Proceedings brought to establish, enforce or interpret a right to indemnification or advancement of Expenses under this Agreement or any other statute or law or otherwise as required under Section 145 of the DGCL, but such indemnification or advancement of Expenses may be provided by the Company in specific cases if the Board of Directors finds it to be appropriate and authorizes such indemnification or advancement of Expenses; <u>provided</u>, <u>however</u>, that the exclusion set forth in the first clause of this subsection shall not be deemed to apply to any investigation initiated or brought by Indemnitee to the extent reasonably necessary or advisable in support of Indemnitee's defense of a Proceeding to which Indemnitee was, is or is threatened to be made, a party;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **<u>Lack of Good Faith.</u>** To indemnify Indemnitee for any Expenses incurred by Indemnitee with respect to any Proceeding instituted by Indemnitee to establish, enforce or interpret a right to indemnification under this Agreement or any other statute or law or otherwise as required under Section 145 of the DGCL, if a court of competent jurisdiction determines that each of the material assertions made by Indemnitee in such proceeding was not made in good faith or was frivolous;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **<u>Unlawful Payments.</u>** To indemnify Indemnitee for Expenses to the extent it is determined by Final Disposition of the applicable Proceeding that such indemnification is unlawful;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **<u>Certain Conduct.</u>** To indemnify Indemnitee for Expenses on account of Indemnitee's conduct that is established by Final Disposition of the applicable Proceeding as knowingly fraudulent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **<u>Insured Claims.</u>** To indemnify Indemnitee for Expenses to the extent such Expenses have been paid directly to Indemnitee by an insurance carrier under an insurance policy maintained by the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **<u>Certain Exchange Act Claims.</u>** To indemnify Indemnitee in connection with any claim made against Indemnitee for (i) an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Exchange Act or any similar successor statute or any similar provisions of state statutory law or common law, or (ii) any reimbursement of the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the "<u>Sarbanes-Oxley Act</u>") or Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act); <u>provided</u>, <u>however</u>, that to the fullest extent permitted by applicable law and to the extent Indemnitee is successful on the merits or otherwise with respect to any such Proceeding, the Expenses actually and reasonably incurred by Indemnitee in connection with any such Proceeding shall be deemed to be Expenses that are subject to indemnification hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. **<u>Contribution Claims.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the indemnification provided in Section 1 is unavailable in whole or in part and may not be paid to Indemnitee for any reason other than any of the reasons set forth in Section 7, then in respect to any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding), to the fullest extent permitted by applicable law, the Company, in lieu of indemnifying Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for Expenses, judgments, fines or amounts paid in settlement, in connection with any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have at any time against Indemnitee.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Without diminishing or impairing the obligations of the Company set forth in the preceding Section 8(a), if, for any reason, Indemnitee shall elect or be required to pay all or any portion of any Expenses, judgment or settlement in any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such Proceeding), the Company shall contribute to the amount of Expenses, judgments, penalties, fines and amounts paid in settlement of such Proceeding actually and reasonably incurred and paid or payable by Indemnitee in proportion to the relative benefits received by the Company and all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee, on the other hand, from the transaction or events from which such Proceeding arose; provided, however, that the proportion determined on the basis of relative benefit may, to the extent necessary to conform to law, be further adjusted by reference to the relative fault of the Company and all officers, directors or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee, on the other hand, in connection with the transaction or events that resulted in such Expenses, judgments, penalties, fines or settlement amounts, as well as any other equitable considerations which applicable law may require to be considered. The relative fault of the Company and all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee, on the other hand, shall be determined by reference to, among other things, the degree to which their actions were motivated by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary and the degree to which their conduct is active or passive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) With respect to a Proceeding brought against directors, officers, employees, agents, or consultants of the Company (other than Indemnitee), to the fullest extent permitted by applicable law, the Company shall indemnify Indemnitee from any claims for contribution that may be brought by any such directors, officers, employees, agents, or consultants of the Company (other than Indemnitee) who may be jointly liable with Indemnitee, to the same extent Indemnitee would have been entitled to such indemnification under this Agreement if such Proceeding had been brought against Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. **<u>No Imputation.</u>** The knowledge and/or actions, or failure to act, of any other director, officer, agent, employee, or consultant of the Company or the Company itself shall not be imputed to Indemnitee for purposes of determining any rights under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. **<u>Determination of Good Faith.</u>** For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee's action is based on the records or books of account of the Enterprise, including financial statements, or on information supplied to Indemnitee by the officers of the Enterprise in the course of their duties, or on the advice of legal counsel for the Enterprise or the Board of Directors of the Enterprise or any counsel selected by any committee of the Board of Directors of the Enterprise or on information or records given or reports made to the Enterprise by an independent certified public accountant or by an appraiser, investment banker, compensation consultant, or other expert selected with reasonable

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care by the Enterprise or the Board of Directors of the Enterprise or any committee thereof. The provisions of this Section 10 shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed to have met the applicable standard of conduct. Whether or not the foregoing provisions of this Section 10 are satisfied, it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. **<u>Defined Terms and Phrases.</u>** For purposes of this Agreement, the following terms shall have the following meanings:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "<u>Beneficial Owner</u>" and "<u>Beneficial Ownership</u>" have the meaning given to such terms in Rule 13d-3 promulgated under the Exchange Act as in effect on the date hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "<u>Change of Control</u>" shall be deemed to occur upon the earliest of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&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) <u>Acquisition of Stock by Third Party.</u> Any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing fifteen percent (15%) or more of the combined voting power of the Company's then outstanding securities entitled to vote generally in the election of directors, unless (A) the change in the relative Beneficial Ownership of the Company's securities by any Person results solely from a reduction in the aggregate number of outstanding shares of securities entitled to vote generally in the election of directors or (B) such acquisition was approved in advance by the Continuing Directors and such acquisition would not constitute a Change of Control under part (iii) of this definition.

&nbsp;&nbsp;&nbsp;&nbsp;&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) <u>Change in Board of Directors.</u> The Continuing Directors cease for any reason to constitute at least a majority of the members of the Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&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) <u>Corporate Transaction.</u> The effective date of a reorganization, merger, or consolidation of the Company (a "<u>Business Combination</u>"), in each case, unless, following such Business Combination: (A) all or substantially all of the individuals and entities who were the Beneficial Owners of securities entitled to vote generally in the election of directors immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the combined voting power of the then outstanding securities of the Company entitled to vote generally in the election of directors resulting from such Business Combination (including a corporation which as a result of such transaction owns the Company or all or substantially all of the Company's assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the securities entitled to vote generally in the election of directors and with the power to elect at least a majority of the Board of Directors or other governing body of the surviving entity; (B) no Person (excluding any corporation resulting from such Business Combination) is the Beneficial Owner, directly or indirectly, of 15% or more of the combined voting power of the then outstanding securities entitled to vote generally in the election of directors of such corporation except to the extent that such ownership existed prior to the Business Combination; and (C) at least a majority of the Board of Directors of the corporation resulting from such Business Combination were Continuing Directors at the time of the execution of the initial agreement, or of the action of the Board of Directors, providing for such Business Combination.

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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;(iv) <u>Liquidation.</u> The approval by the Company's stockholders of a complete liquidation or dissolution of the Company or an agreement or series of agreements for the sale or disposition by the Company of all or substantially all of the Company's assets, other than factoring the Company's current receivables or escrows due (or, if such approval is not required, the decision by the Board of Directors to proceed with such a liquidation, sale or disposition in one transaction or a series of related 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;&nbsp;&nbsp;&nbsp;&nbsp;(v) <u>Other Events.</u> There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act whether or not the Company is then subject to such reporting requirement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "<u>Company</u>" means Indivior Pharmaceuticals, Inc., a Delaware corporation, and shall include, in addition to the surviving or resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, and employees or agents, so that if Indemnitee is or was a director, officer, employee or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, trustee, general partner, managing member, fiduciary, employee or agent of any other enterprise, Indemnitee shall stand in the same position under the provisions of this Agreement with respect to the resulting or surviving corporation as Indemnitee would have with respect to such constituent corporation if its separate existence had continued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "<u>Continuing Director</u>" means (i) each director on the Board of Directors as of the date of this Agreement or (ii) any new director whose election by the Board of Directors or nomination for election by the Company's stockholders was approved by a vote of at least a majority of the directors then still in office who were directors on 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;(e) "<u>Disinterested Director</u>" means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) "<u>DGCL</u>" means the General Corporation Law of the State of Delaware, as it exists or may hereafter be amended or modified from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) "<u>Enterprise</u>" means the Company and any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise that Indemnitee was or is serving at the request of the Company as a director, officer, partner (general, limited or otherwise), member (managing or otherwise), trustee, fiduciary, employee or agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) "<u>Exchange Act</u>" means the Securities Exchange Act of 1934, as amended.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) "<u>Expenses</u>" shall include all direct and indirect costs, fees and expenses of any type or nature whatsoever, including all attorneys' fees and costs, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, fees of private investigators and professional advisors, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payment under this Agreement (including taxes that may be imposed upon the actual or deemed receipt of payments under this Agreement with respect to the imposition of federal, state, local or foreign taxes), fax transmission charges, and all other disbursements, obligations or expenses in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, settlement or appeal of, or otherwise participating in a Proceeding. Expenses also shall include any of the forgoing expenses incurred in connection with any appeal resulting from any Proceeding, including the principal, premium, security for, and other costs relating to any costs bond, supersedes bond, or other appeal bond or its equivalent. Expenses also shall include any interest, assessment or other charges imposed thereon and costs incurred in preparing statements in support of payment requests hereunder. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments, penalties or fines against Indemnitee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) "<u>Final Disposition</u>" shall mean the final judicial disposition by a court of competent jurisdiction as to which all rights of appeal therefrom have been exhausted or lapsed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) "<u>Independent Counsel</u>" means a law firm, or a person admitted to practice law in any State of the United States, that is experienced in matters of corporate law and neither presently is, nor in the past three (3) years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with respect to serving as Independent Counsel (or similar independent legal counsel position) as to matters concerning the rights of Indemnitee under this Agreement, or other indemnitees under similar indemnification agreements, or the rights of Indemnitee or other indemnitees to indemnification under the Company's Certificate of Incorporation or Bylaws), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term "Independent Counsel" shall not include any law firm or person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee's rights under this Agreement. For the avoidance of doubt, the term "Independent Counsel" shall not include any law firm or person who represented or advised any entity or person in connection with a Change of Control of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) "<u>Person</u>" has the meaning set forth in Sections 13(d) and 14(d) of the Exchange Act; <u>provided</u>, <u>however</u>, that "Person" excludes: (i) the Company; (ii) any direct or indirect majority owned subsidiaries of the Company; (iii) any employee benefit plan of the Company or any direct or indirect majority owned subsidiaries of the Company or of any corporation owned, directly or indirectly, by the Company's stockholders in substantially the same proportions as their ownership of stock of the Company (an "<u>Employee Benefit Plan</u>"); and (iv) any trustee or other fiduciary holding securities under an Employee Benefit Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) "<u>Proceeding</u>" means any actual, threatened, pending or completed action, derivative action, suit, claim, counterclaim, cross claim, arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought by a third party, a government agency, the Company or its Board of Directors or a committee thereof, whether in the right of the Company

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or otherwise and whether of a civil (including intentional or unintentional tort claims), criminal, administrative, legislative or investigative (formal or informal) nature, including any appeal therefrom, in which Indemnitee was, is, will or might be involved as a party, potential party, non-party witness or otherwise, in any such case, by reason of the fact that Indemnitee is or was a director, officer, employee or agent of the Company, by reason of any action (or failure to act) taken by Indemnitee or of any action (or failure to act) on Indemnitee's part while acting as a director, officer, employee or agent of the Company, or by reason of the fact that Indemnitee is or was serving at the request of the Company as a director, officer, partner (general, limited or otherwise), member (managing or otherwise), trustee, fiduciary, employee or agent of any other enterprise, in each case whether or not serving in such capacity at the time any liability or Expense is incurred for which indemnification or advancement of Expenses can be provided under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) In addition, references to "<u>other enterprise</u>" shall include another corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or any other enterprise; references to "<u>fines</u>" shall include any excise taxes assessed on Indemnitee with respect to an employee benefit plan; references to "<u>serving at the request of the Company</u>" shall include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by Indemnitee with respect to an employee benefit plan, its participants, or beneficiaries, including as a deemed fiduciary thereto; and if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be deemed to have acted in a manner "<u>not opposed to the best interests of the Company</u>" as referred to in this Agreement; references to "<u>include</u>" or "<u>including</u>" shall mean include or including, without limitation; and references to Sections, paragraphs or clauses are to Sections, paragraphs or clauses in this Agreement unless otherwise specified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. **<u>Miscellaneous.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) **<u>Governing Law.</u>** The validity, interpretation, construction and performance of this Agreement, and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the state of Delaware, without giving effect to principles of conflicts of law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) **<u>Entire Agreement; Binding Effect.</u>** Subject to the following sentence, and without limiting any of the rights of Indemnitee described in Section 3(b), this Agreement sets forth the entire agreement and understanding of the parties relating to the subject matter herein and merges all prior discussions and supersedes any and all previous agreements between them covering the subject matter herein. The indemnification provided under this Agreement applies with respect to events occurring before or after the effective date of this Agreement, and shall continue to apply even after Indemnitee has ceased to serve the Company in any and all indemnified capacities; provided, however, that, to the fullest extent permitted by applicable law, to the extent that any previous written agreement (regardless of whether such written agreement is then in effect or has been superseded by this Agreement) between the Company and Indemnitee provides (or would have provided) for greater rights to indemnification or advancement of Expenses in respect of any Proceeding (regardless of when such Proceeding is or was first threatened, commenced, or completed) arising out of, or related to, any action taken or omitted by

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Indemnitee, or event that occurred, prior to the effective date of this Agreement, than the rights to indemnification or advancement of Expenses that Indemnitee is provided (or which are available to Indemnitee) under this Agreement, this Agreement shall not limit or restrict any rights to indemnification or advancement of Expenses that are provided by, or available to Indemnitee under, such previous written agreement in respect of any such Proceeding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) **<u>Amendments and Waivers.</u>** No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, shall be effective unless in writing signed by the parties to this Agreement. No waiver of any of the provisions of this Agreement will be deemed or constitutes a waiver of any other provisions of this Agreement nor will any waiver constitute a continuing waiver.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) **<u>Successors and Assigns.</u>** This Agreement shall be binding upon the Company and its successors (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company) and assigns, and inure to the benefit of Indemnitee and Indemnitee's heirs, executors, administrators, legal representatives and assigns. The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform to the fullest extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) **<u>Notices.</u>** All notices, requests, demands and other communications under this Agreement will be in writing and will be deemed to have been duly given if (i) delivered by hand, upon receipt by the party to whom said notice or other communication shall have been directed, (ii) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it is so mailed, (iii) mailed by reputable overnight courier, one day after deposit with such courier and with written verification of receipt, or (iv) sent by electronic mail, with receipt of oral confirmation that such transmission has been 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;(i) If to Indemnitee, to the address indicated on the signature page of this Agreement, or such other address as Indemnitee provides to the 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;(ii) If to the Company, to:

10710 Midlothian Turnpike Suite 125

North Chesterfield, VA 23235

Attention: Chief Legal Officer

Email: cosec@indivior.com

&nbsp;&nbsp;&nbsp;&nbsp;&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) or to any other address as may have been furnished to Indemnitee by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) **<u>Construction.</u>** This Agreement is the result of negotiations between and has been reviewed by each of the parties hereto and their respective counsel, if any; accordingly, this Agreement shall be deemed to be the product of all of the parties hereto, and no ambiguity shall be construed in favor of or against any one of the parties hereto.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) **<u>Counterparts.</u>** This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, and all of which together shall constitute one and the same agreement. Execution of a facsimile or scanned copy will have the same force and effect as execution of an original, and a facsimile or scanned signature will be deemed an original and valid signature.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) **<u>No Employment Rights.</u>** Nothing contained in this Agreement is intended to create in Indemnitee any right to continued employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) **<u>Company Position.</u>** The Company shall be precluded from asserting, in any Proceeding brought for purposes of establishing, enforcing or interpreting any right to indemnification or advancement under this Agreement, that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company is bound by all the provisions of this Agreement and is precluded from making any assertion to the contrary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) **<u>Injunctive Relief.</u>** The Company and Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later date, may be inadequate, impracticable and difficult of proof, and further agree that such breach may cause Indemnitee and the Company irreparable harm. Accordingly, the parties hereto agree that the parties may enforce this Agreement by seeking injunctive relief and/or specific performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive relief and/or specific performance, they shall not be precluded from seeking or obtaining any other relief to which they may be entitled. The Company and Indemnitee further agree that they shall be entitled to such specific performance and injunctive relief, including temporary restraining orders, preliminary injunctions and permanent injunctions, without the necessity of posting bonds or other undertaking in connection therewith. The Company and Indemnitee acknowledge that in the absence of a waiver, a bond or undertaking may be required by the Chancery Court of the State of Delaware, and they hereby waive any such requirement of such a bond or undertaking.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) **<u>Subrogation.</u>** In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all documents required and shall do all acts that may be necessary to secure such rights and to enable the Company to effectively bring suit to enforce such rights.

*[Signature Page Follows]* 

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IN WITNESS WHEREOF, each of the parties have executed this Agreement as of the date first set forth above.

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| |
|:---|
| **THE COMPANY:** |
| INDIVIOR PHARMACEUTICALS, INC. |
| By: |
| (Signature) |
| Name: |
| Title: |

---

---

| |
|:---|
| **AGREED TO AND ACCEPTED**: |
| **INDEMNITEE:** |
| (PRINT NAME) |
| (Signature) |

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*Signature Page to Indemnification Agreement*

## Exhibit 10.3

**Exhibit 10.3** 

**OMNIBUS AMENDMENT TO THE** 

**INDIVIOR 2024 LONG-TERM INCENTIVE PLAN** 

**INDIVIOR LONG-TERM INCENTIVE PLAN** 

**INDIVIOR GROUP DEFERRED BONUS PLAN 2018** 

**INDIVIOR UK SAVINGS RELATED SHARE OPTION PLAN** 

This omnibus amendment (this "<u>Amendment</u>") by Indivior Pharmaceuticals, Inc., a Delaware corporation (the "<u>Company</u>"), effective as of commencement of trading of the shares of the Company's common stock on the Global Select Market of The Nasdaq Stock Market LLC (the "<u>Effective Time</u>"), amends each of the (i) Indivior 2024 Long-Term Incentive Plan (the "<u>2024 LTIP</u>"), (ii) Indivior Long-Term Incentive Plan (the "<u>LTIP</u>"), (iii) Indivior Group Deferred Bonus Plan 2018 (the "<u>DBP</u>"), and (iv) Indivior UK Savings Related Share Option Plan (the "2014 <u>Savings Plan</u>" and the 2024 LTIP, LTIP, DBP and 2014 Savings Plan collectively, the "<u>Plans</u>" and each, a "<u>Plan</u>"). Capitalized terms that are not defined in this Amendment shall have the meanings ascribed thereto in the applicable Plan, except as otherwise provided herein.

**WHEREAS**, Section 13.1 of the 2024 LTIP, Section 13.1 of the LTIP, Section 17.1 of the DBP and Section 12.1 of the 2014 Savings Plan provide that the Compensation Committee of the Board of the Directors of Indivior PLC may amend the Plan from time to time;

**WHEREAS**, as of the Effective Time, the Company will assume the Plans and all rights and obligations under the Plans; and

**WHEREAS**, the Compensation Committee of the Board of the Directors of the Company (the "<u>Committee</u>") has determined it to be in its best interests to amend the Plans as set forth herein.

**NOW, THEREFORE**, **BE IT RESOLVED THAT**, the Plans shall be amended as follows, effective as of the Effective Time:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The name of each Plan shall be amended in its entirety as follows:

The 2024 LTIP shall be the "Indivior Pharmaceuticals, Inc. 2024 Long-Term Incentive Plan".

The LTIP shall be the "Indivior Pharmaceuticals, Inc. Long-Term Incentive Plan".

The DBP shall be the "Indivior Pharmaceuticals, Inc. Deferred Bonus Plan 2018".

The 2014 Savings Plan shall be the "Indivior Pharmaceuticals, Inc. UK Savings Related Share Option Plan".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The definition of "**Company**" in each Plan shall be amended and restated in its entirety as follows: ""**Company**" means Indivior Pharmaceuticals, Inc., a Delaware corporation, and its successors by operation of law."

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The definition of "**London Stock Exchange**" in each Plan shall be amended and restated in its entirety as follows: ""**Applicable Exchange**" means the Global Select Market of The Nasdaq Stock Market LLC, the London Stock Exchange or any other national stock exchange or quotation system on which the Shares may be listed or quoted." References to "London Stock Exchange" shall be replaced by references to "Applicable Exchange". Any references to "London Stock Exchange" in the Plans shall be replaced with "Applicable Exchange".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The definition of "**Market Value**" in each of the 2024 LTIP and the LTIP shall be amended and restated in its entirety as follows: ""**Market Value**" means, in relation to a Share on any date: (i) the closing per Share sales price as reported by the Global Select Market of The Nasdaq Stock Market LLC (or any other national stock exchange or quotation system on which the Shares may be listed or quoted) for such date or if there were no sales on such date, on the closest preceding date on which there were sales of Shares or (ii) if the Committee so determines, such closing per Share sales price for any other trading date (or the average of such closing per Share sales price for any trading dates) occurring before the relevant date, as the Committee may determine, provided that such trading dates do not fall within any period when Dealing Restrictions apply to the Participant in respect of the Award or the Shares subject to the Award (and, in the case of a US Participant, such basis is in accordance with US Treasury Regulation 1.409A-1(b)(5)(iv)(A))."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The definition of "**Market Value**" in the DBP shall be amended and restated in its entirety as follows: ""**Market Value**" means, in relation to a Share on any date: (i) the closing per Share sales price as reported by the Global Select Market of The Nasdaq Stock Market LLC (or any other national stock exchange or quotation system on which the Shares may be listed or quoted) for such date or if there were no sales on such date, on the closest preceding date on which there were sales of Shares or (ii) if the Committee so determines, such closing per Share sales price for any other trading date (or the average of such closing per Share sales price for any trading dates) occurring before the relevant date, as the Committee may determine, provided that such trading dates do not fall within any Restricted Period applicable to the Participant in respect of the Award or the Shares subject to the Award (and, in the case of a US Taxpayer, such basis is in accordance with US Treasury Regulation 1.409A-1(b)(5)(iv)(A))."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. References to "shareholder" or "shareholders" in each Plan shall mean "stockholder" or "stockholders", respectively, of Indivior Pharmaceuticals, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. References to the name and address of the Company contained in each Plan shall instead refer to Indivior Pharmaceuticals, Inc., 10710 Midlothian Turnpike Suite 125, North Chesterfield, VA 23235.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. To the extent that Shares are required to, or may, be issued pursuant to an Award (including any Option), shares of the Company's common stock, par value $0.001 per share, will be issued upon the exercise or settlement (as applicable) of any such Award (including any Option) previously granted under the Plan, including, for the avoidance of doubt, an Award (including any Option) that was granted and outstanding prior to the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Until surrendered and exchanged, each award certificate delivered to a Participant pursuant to a Plan and evidencing outstanding Shares immediately prior to the Effective Time shall, for all purposes of the applicable Plan and the Shares, continue to evidence the identical amount and number of outstanding Shares at and after the Effective Time.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Except as modified by this Amendment, all of the terms and conditions of the Plans shall remain valid and in full force and effect.

\*\*\*\*\*

## Exhibit 10.4

**Exhibit 10.4** 

**RULES OF THE** 

**AMENDED AND RESTATED INDIVIOR UK** 

**SAVINGS RELATED SHARE OPTION PLAN** 

------

**Table of Contents** 

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| | | |
|:---|:---|:---|
| **Contents** | **Contents** | **Page** |
| 1 | Definitions and interpretation | 1 |
| 2 | Invitations to apply for Options | 4 |
| 3 | Scaling down | 5 |
| 4 | Grant of Options | 5 |
| 5 | Plan limits | 6 |
| 6 | Rights of Exercise and Lapse of Options | 6 |
| 7 | Exercise of Options | 8 |
| 8 | Takeovers and Liquidation | 9 |
| 9 | Exchange of Options on a Takeover | 10 |
| 10 | Variation of Share Capital | 10 |
| 11 | Administration | 11 |
| 12 | Amendments | 12 |
| 13 | General | 12 |

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| | |
|:---|:---|
| **1** | **Definitions and interpretation**  |

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1.1 In this Plan, the following words and expressions shall, where the context so permits, have the following
meanings:

"**Act**" means the Income Tax (Earnings and Pensions) Act 2003;

**"Applicable Exchange**" means the Global Select Market of The Nasdaq Stock Market LLC, the London Stock Exchange or any other national stock exchange or quotation system on which the Shares may be listed or quoted.

"**Associated Company**" has the meaning given by paragraph 47(1) of Schedule 3 except in relation to Rule 6 where it will have the meaning given by paragraph 35(4) of Schedule 3;

"**Bonus**" means any sum payable by way of terminal bonus under a Savings Contract being the additional payment made by the nominated Savings Authority when repaying contributions under a Savings Contract and:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "**Three Year Bonus**" shall mean the Bonus payable under a Three Year Savings Contract; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "**Five Year Bonus**" shall mean the Bonus payable under a Five Year Savings Contract.

"**Bonus Date**" means the earliest date on which the relevant Bonus is payable;

"**Company**" means Indivior Pharmaceuticals, Inc., a Delaware corporation, and its successors by operation of law;

"**Control**" has the meaning given by section 995 of the Income Tax Act 2007 except for the purposes of Rule 6.4.5 where it will have the meaning given by sections 450 and 451 of the Corporation Tax Act 2010;

"**Date of Grant**" means the date on which an Option is granted;

"**Dealing Day**" means a day on which the Nasdaq Stock Market (or, if relevant and if the Directors determine in accordance with Part VIII of the Taxation of Chargeable Gains Act 1992, any recognised stock exchange nominated by the Directors on which the Shares are traded) is open for business;

"**Dealing Restrictions**" means restrictions on, or requirements for approvals for, dealing in Shares imposed by statute, order, regulation or Government directive or listing authority or any code adopted by the Company;

"**Directors**" means the board of directors from time to time of the Company or a duly authorised committee of it;

"**Eligible Employee**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any person who is an employee or Full-Time Director of any Participating Company who:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) has such qualifying period (if any) of continuous service (being a period commencing not earlier than five
years prior to the Date of Grant) as the Directors may in their absolute discretion and from time to time determine; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) receives earnings in respect of their office or employment which are general earnings to which section 15 of
the Act applies (or would apply if there were any);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any other director or employee of any Participating Company whom the Directors may in their absolute discretion
and from time to time select.

"**Exercise Price**" means the price at which each Share the subject of an Option may be acquired on the exercise of that Option, being (subject to Rule 9.2.4) not less than:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) eighty per cent (80%) of the Market Value of a Share (or such other percentage as shall from time to time be
specified in paragraph 28(1)(b) of Schedule 3); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) if greater, and Shares are to be acquired by subscription, the nominal value of a Share;

"**Full-Time Director**" means an employee who is a director of any Participating Company and normally devotes not less than 25 hours per week (excluding meal breaks and normal holiday entitlement or such other number of hours as may be required by HMRC for the purposes of paragraph 6 of Schedule 3) to their duties;

"**Grant Period**" means the period during which the Directors may invite Eligible Employees to apply for Options as specified in Rule 2.1;

"**Group**" means the Company and all its Subsidiaries;

"**Group Company**" means any company in the Group;

"**HMRC**" means H. M. Revenue & Customs;

"**Key Feature**" has the meaning given to it by paragraph 40B(8) of Schedule 3;

"**Market Value**" means the lowest of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the market value of a Share on the Dealing Day immediately preceding the date on which the invitation is made
in accordance with Rule 2 (the "relevant date");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the average of the market values of a Share for the three Dealing Days immediately preceding the relevant date;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the average of the market values of a Share for the five Dealing Days immediately preceding the relevant date,

with the market value of a Share being determined in accordance with Part VIII of the Taxation of Chargeable Gains Act 1992 and for these purposes the Market Value of a Share subject to a restriction is to be determined as if it was not subject to a restriction;

"**Maximum Contribution**" means the maximum aggregate Monthly Contribution which an Optionholder may make under all Savings Contracts linked to options granted to them under the Plan or any other Schedule 3 SAYE Plan, being the lesser of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) £500 per month or, if higher, the maximum amount specified in paragraph 25(3) of Schedule 3 from time to
time; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) such other maximum Monthly Contribution as may be determined from time to time by the Directors which need not
be the same in relation to all Eligible Employees provided that it does not infringe the requirements of paragraph 7 of Schedule 3 (participation on similar terms);

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"**Monthly Contribution**" means the monthly contribution agreed to be paid by an Optionholder under the relevant Savings Contract;

"**Non-UK Company Reorganisation Arrangement**" has the meaning given by paragraph 47A of Schedule 3;

"**Option**" means a right granted or to be granted to acquire Shares pursuant to the Rules;

"**Optionholder**" means any person (including where the context permits the personal representatives of such a person) who holds an Option;

"**Participating Company**" means any Group Company which the Company has determined shall be a participating company for the purposes of the Plan;

"**Plan**" means this plan, being the Amended and Restated Indivior UK Savings Related Share Option Plan constituted by the Rules as from time to time amended;

"**Repayment**" means in relation to a Savings Contract, the aggregate of the Monthly Contributions which the Participant has made and, subject to Rules 2.2.5 and 3.1.1, any Bonus due at the Bonus Date;

"**Rules**" means these rules together with any amendment effected in accordance with Rule 13;

"**Savings Authority**" means the building society or bank recognised by the Directors from time to time for the purpose of receiving Monthly Contributions under Savings Contracts;

"**Savings Contract**" means a savings contract under a certified SAYE savings arrangement (within the meaning of paragraph 48(1) of Schedule 3) and "**Three Year Savings Contract**" and "**Five Year Savings Contract**" shall be construed accordingly;

"**Schedule 3**" means Schedule 3 to the Act;

"**Schedule 3 SAYE Plan**" means a savings-related share option plan that satisfies the requirements of Schedule 3;

"**Share**" means shares of common stock of the Company, par value $0.001;

"**Subsidiary**" means any corporation in an unbroken chain of corporations beginning with the Company if each of the corporations other than the last corporation in the chain owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in the chain; and

"**TUPE Regulations**" means the Transfer of Undertakings (Protection of Employment) Regulations 2006.

1.2 References to any statutory provision are to that provision as amended or re-enacted from time to time (and any regulations made under it), and, unless the context otherwise requires, and words in the singular shall include the plural and vice versa.

1.3 The purpose of the Plan is to provide in accordance with Schedule 3 benefits to Eligible Employees in the form
of share options. The Plan and any Option granted under it shall be interpreted, operated and administered in a manner that is consistent with that purpose and in the case of any conflict between these rules and the provisions of Schedule 3,
Schedule 3 shall prevail.

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| | |
|:---|:---|
| **2** | **Invitations to apply for Options**  |

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**2.1** The Directors may, in their absolute discretion, decide whether or not to operate the Plan.

**2.2** Such invitations shall be made to all Eligible Employees and shall include details of the following
matters which shall be determined by the Directors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2.1** the Exercise Price or the means by which it will be notified to Eligible Employees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2.2** the latest date by which applications must be received, being neither earlier than 14 days nor later
than 28 days after the date of the invitations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2.3** the Maximum Contribution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2.4** whether the applicable Savings Contract(s) being offered are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) a Three Year Savings Contract; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a Five Year Savings Contract; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) either a Three Year Savings Contract or a Five Year Savings Contract, as the applicant shall select; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) a combination of a Three Year Savings Contract and a Five Year Saving Contract (subject always to the Maximum
Contribution); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.2.5** whether, for the purpose of determining the number of Shares over which an Option is to be granted, the
Repayment under the Savings Contract is to be taken as including any Bonus or not.

**2.3** Each invitation shall be accompanied by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3.1** a proposal form for a Savings Contract; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.3.2** an application form.

**2.4** An application form shall be in such form as the Directors may from time to time prescribe save that it
must provide for the applicant to state:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4.1** the Monthly Contribution (being a multiple of £1 and not less than £10) which they wish to
make under the related Savings Contract; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4.2** that their proposed Monthly Contribution (when taken together with any Monthly Contribution they make
under any other Savings Contract linked to an option granted to them under the Plan or any other Schedule 3 SAYE Plan) will not exceed the Maximum Contribution; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.4.3** if the Directors have determined that an applicant may select either a Three Year Savings Contract
and/or a Five Year Savings Contract, their selection in that respect.

**2.5** Each application shall provide that, in the event of scaling down in accordance with Rule 3, the
Directors are authorised by the applicant to modify their application to reflect such scaling down.

**2.6** Subject to Rule 2.7 and Rule 3, each application shall be deemed to be for an Option over such number of
whole Shares as can be acquired at the Exercise Price with the expected Repayment under the related Savings Contract at the appropriate Bonus Date.

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**2.7** If an application for a Savings Contract specifies a Monthly Contribution which, when added to any other
Monthly Contributions already being made or proposed to be made by the Eligible Employee, exceeds the Maximum Contribution, that application shall be deemed to have been automatically modified down to the maximum possible amount.

**2.8** Invitations to apply for Options must not be issued at any time if it would be unlawful, or in breach of
Dealing Restrictions.

**2.9** The Directors may, in their absolute discretion, treat all late applications as valid provided they are
received no less than five days prior to the Date of Grant.

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| | |
|:---|:---|
| **3** | **Scaling down**  |

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**3.1** To the extent that valid applications are received in excess of any maximum number of Shares which may
be determined by the Directors or the limit in Rule 5, the Directors shall scale down applications in the same manner in order to eliminate the excess by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1.1** excluding the Bonuses under the relevant Savings Contracts; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1.2** reducing pro-rata the proposed Monthly Contributions in excess
of £10; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1.3** deeming each application for a Savings Contract with a Five Year Bonus to be an application for a
Savings Contract with a Three Year Bonus; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.1.4** so far as necessary, selecting by lot.

**3.2** Where applications are scaled down in accordance with Rule 3.1 all relevant applications shall be deemed
to have been amended or withdrawn, as the case may be.

**3.3** If the number of Shares is insufficient to enable an Option based on a £10 per month contribution
to be granted to each Eligible Employee who has made a valid application, the Company may, as an alternative to selecting by lot, determine in its absolute discretion that no Options will be granted.

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| | |
|:---|:---|
| **4** | **Grant of Options**  |

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**4.1** No Option shall be granted after whichever is the earlier of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1.1** 30 days (or 42 days, or such longer period as may be agreed with HMRC, in the event that applications
are scaled down under Rule 3) after the day(s) by reference to which the Exercise Price was fixed; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.1.2** the last day of the applicable Grant Period.

**4.2** No Option shall be granted to a person unless at the Date of Grant they are an Eligible Employee. No
payment will be required for the grant of an Option.

**4.3** As soon as is practicable after having granted an Option to an Eligible Employee the Company shall issue
to them, or procure the issue to them of, an option certificate. The option certificate shall be in such form determined by the Directors from time to time and shall state:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3.1** the Date of Grant of the Option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3.2** the number of Shares over which the Option is granted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3.3** the Exercise Price payable for each Share subject to the Option; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.3.4** if the Shares are subject to any restriction, details of the restriction.

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**4.4** Subject to the right of an Optionholder's personal representatives to exercise an Option as
provided in Rule 6.4, every Option shall be personal to the Eligible Employee to whom it is granted and any purported assignment, transfer, charge, disposal or dealing with the rights or interests of the Optionholder under the Plan shall render the
Option void.

**4.5** Options must not be granted at any time when that grant is prohibited by or in breach of any Dealing
Restrictions.

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| | |
|:---|:---|
| **5** | **Plan limits**  |

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**5.1** On or before the date upon which invitations are issued on any occasion the Directors may determine a
limit on the number of Shares over which applications for Options will be accepted on that occasion.

**5.2** The number of Shares over which the Directors may grant Options on any date shall be limited so that it
does not exceed the limit set out in Rule **Error! Reference source not found.** or Rule 5.3, as applicable.

**5.3** The aggregate number of Shares with respect to which Options may be granted under this Plan shall not
exceed 1,000,000 Shares (whether satisfied by the issue of new Shares, the transfer of treasury Shares or the transfer of existing Shares). Any Option under this Plan settled in cash shall not be counted against the foregoing maximum Share limit.

**5.4** For the purposes of Rule 5

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4.1** no account will be taken of Shares acquired by an employee or former employee (or the personal
representatives of such a person) where the Shares are acquired for a price equal to their market value at or about the date of acquisition and the cost of those Shares is borne by (or by the estate of) the employee or former employee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4.2** subject to Rule **Error! Reference source not found.**, no account will be taken of an award if and
to the extent to which the Directors considers that it will be satisfied by the transfer of existing Shares other than treasury Shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.4.3** where an award was granted in consideration of the release by the holder of an award previously granted
to them under an employee share scheme, then the earlier award shall be ignored and the later award shall be deemed to have been granted at the same time as the earlier award.

**5.5** No Option shall be granted under this Scheme after the Company's annual general meeting in 2036.

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| | |
|:---|:---|
| **6** | **Rights of Exercise and Lapse of Options**  |

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**6.1** Save as provided in Rules 6.3 (death), 6.4 (good leavers) and 8 (takeovers etc), an Option may be
exercised only during the period commencing with the Bonus Date under the related Savings Contract.

**6.2** Save as provided in Rules 6.3 and 6.4, an Option may only be exercised by an Optionholder while they are
a director or employee of a Participating Company.

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**6.3** An Option may be exercised by the personal representatives of a deceased Optionholder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.3.1** during the period of one year following the date of the Optionholder's death if such death occurs
before the Bonus Date; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.3.2** during the period of one year following the Bonus Date if the Optionholder's death occurs within
the period of six months of the Bonus Date.

**6.4** Subject to Rule 6.5, if an Optionholder ceases to hold any office or employment with a Participating
Company on account of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4.1** injury or disability (evidenced to the satisfaction of the Company); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4.2** redundancy (within the meaning of the Employment Rights Act 1996); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4.3** retirement; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4.4** the transfer of the undertaking or part-undertaking in which the Optionholder is employed to a person
other than a Group Company where such transfer is a relevant transfer within the meaning of the TUPE Regulations; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4.5** the Associated Company by which the Optionholder is employed ceasing to be under the Control of the
Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4.6** ceasing to hold employment with a Participating Company provided more than three years have elapsed
since the relevant Date of Grant and cessation is not by reason of dismissal for misconduct; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.4.7** the transfer or sale of the undertaking or part-undertaking in which the Optionholder is employed to a
person who is not an Associated Company of the Company where the transfer is not a relevant transfer within the meaning of the TUPE Regulations,

the Option may be exercised within the period of six months following such cessation.

**6.5** An Optionholder shall not be treated as having ceased to hold any office or employment with a
Participating Company for the purposes of this Rule 6 until that person ceases to hold any office or employment with the Company or any company which is an Associated Company.

**6.6** An Option shall lapse on the occurrence of the earliest of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.6.1** subject to Rule 6.6.2 below, the expiry of the period of six months after the Bonus Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.6.2** where the Optionholder has died, the expiry of the period during which the Option may be exercised in
accordance with Rule 6.3;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.6.3** the expiry of any of the applicable periods specified in Rules 6.3 (exercise by personal
representatives) and 6.4 (good leavers) but if an Optionholder dies while time is running under Rule 6.4, the Option shall not lapse until the expiry of the relevant period in Rule 6.3;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.6.4** subject to Rule 9 (exchange of options on a takeover), the expiry of any of the applicable periods in
Rules 8.1, 8.2 and 8.3 (takeovers etc) but if an Optionholder dies while time is running under Rule 8.1, 8.2 or 8.3, the Option shall not lapse until the expiry of the relevant period in Rule 6.3;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.6.5** subject to Rule 6.5 (determining cessation of office or employment etc), the date on which an
Optionholder ceases to be a director or employee of a Participating Company for any reason other than their death or those specified in Rule 6.4 (good leavers);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.6.6** the date on which a resolution is passed, or an order is made by the Court, for the compulsory winding
up of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.6.7** the date on which the Optionholder becomes bankrupt or does or omits to do anything as a result of which
they are deprived of the legal or beneficial ownership of the Option; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.6.8** where, before an Option has become capable of being exercised, the date on which the Optionholder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) gives notice that they intend to stop paying Monthly Contributions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) is deemed under the terms of the Savings Contract to have given such notice; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) makes an application for the repayment of Monthly Contributions.

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| | |
|:---|:---|
| **7** | **Exercise of Options**  |

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**7.1** An Option may only be exercised with monies not exceeding the amount of Repayment made under the related
Savings Contract. For this purpose, Repayment under the Savings Contract shall exclude the repayment of any Monthly Contribution the due date for payment of which falls more than one month after the date on which Repayment is made.

**7.2** Save as otherwise provided in the Rules, an Option shall be exercisable in whole or in part but only on
one occasion, by notice in writing (in the form prescribed by the Directors) given by the Optionholder (or their personal representatives) to the Company (or to a duly authorised agent of the Company). The notice of exercise of the Option shall be
accompanied by the relevant option certificate and a remittance in cleared funds for the aggregate Exercise Price payable.

**7.3** As soon as reasonably practicable (and not later than 30 days) after the Option exercise the Directors
shall allot or procure the transfer of the Shares to the Optionholder (or their nominee) in respect of which the Option has been validly exercised.

**7.4** The exercise of an Option and the issue or transfer of Shares under the Plan will be subject to
complying with the requirements of or obtaining any approval or consent required by the relevant listing authority, any Dealing Restrictions or any other applicable laws or regulations (whether in the US or overseas).

**7.5** Shares allotted under the Plan shall rank *pari passu* in all respects with the Shares of the same
class for the time being in issue save as regards any rights attaching to such Shares by reference to a record date prior to the date of allotment and, in the case of a transfer of existing Shares, the transferee shall not acquire any rights
attaching to such Shares by reference to a record date prior to the date of such transfer.

**7.6** If and so long as the Shares are listed on the Applicable Exchange, the Company shall take such steps as
necessary for the Shares allotted pursuant to the Plan to be traded on the Applicable Exchange.

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| | |
|:---|:---|
| **8** | **Takeovers and Liquidation**  |

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**8.1** Subject to Rule 8.4, if any person (either alone or together with any person acting in concert with
them) obtains Control of the Company as a result of making:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1.1** a general offer to acquire the whole of the issued ordinary share capital of the Company (or such part
as is not already owned by the offeror or any person acting in concert with the offeror) which is made on a condition such that if it is satisfied the person making the offer together with persons acting in concert with them, will have Control of
the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.1.2** a general offer to acquire all the shares in the Company (other than shares which are already owned by
the offeror or any person acting in concert with the offeror) which are of the same class as the Shares,

any Option may be exercised immediately before and conditionally upon such change of Control or within six months thereafter.

**8.2** Subject to Rule 8.4, if a Non-UK Company Reorganisation
Arrangement becomes binding on stockholders is applicable to or affecting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all the ordinary share capital of the Company or all of the shares as are of the same class as the Shares to
which the Options relate; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all the shares, or all of the shares of that same class, which are held by a class of stockholders identified
otherwise than by reference to their employment or directorships or their participation in a plan that meets the requirements of Schedule 3,

then any Option may be exercised within 6 months thereafter.

**8.3** Subject to Rule 8.5, if the Company passes a resolution for the voluntary winding up of the Company, any
outstanding Option may be exercised within 20 days of the passing of the resolution after which, to the extent not exercised, it will lapse.

**8.4** If:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.4.1** the events referred to in rule 8.1, 8.2 or 8.3 are part of an arrangement which will mean that the
Company will be under the Control of another company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.4.2** the persons who owned Shares in the Company immediately before the change of Control will immediately
afterwards own at least 75% of the shares in that other company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.4.3** Optionholders are to be offered substitute options under Rule 9,

then Options which are not exercisable otherwise than as a consequence of those Rules may not be exercised.

**8.5** The Directors may in its discretion allow Options to be exercised, in circumstances where Shares no
longer meet the requirements of Schedule 3 due to events where Rules 8.1 to 8.3 apply, during the period of 20 days ending on, where Rule 8.1, 8.2 and 8.3 apply, the date of the relevant event.

**8.6** Notwithstanding that as a result of an event referred to in Rules 8.1 to 8.3 Shares in the Company cease
to satisfy the requirements of paragraph 18 to 22 of Schedule 3, any Shares acquired from the exercise of an Option granted under the Plan within a period of 20 days from the relevant event will be treated as Shares for the purposes of the Plan.

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| | |
|:---|:---|
| **9** | **Exchange of Options on a Takeover**  |

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**9.1** Notwithstanding the provisions of Rule 8, if any company (the "**Acquiring Company** ")
obtains Control of the Company or becomes bound or entitled to acquire shares in the Company within any of the sets of circumstances specified in Rules 8.1 and 8.2, any Optionholder may at any time within the periods specified in those Rules, by
agreement with the Acquiring Company, release their Option (the "**Old Option**") in consideration of the grant to them of a new option (the "**New Option**") which is equivalent to the Old Option (by virtue of
satisfying the requirements of paragraph 39 of Schedule 3) but relates to shares in a different company (whether the Acquiring Company itself or some other company falling within paragraph (b) or (c) of paragraph 18 of Schedule 3).

**9.2** Where the "New Options" are granted pursuant to Rule 9.1 they shall be regarded for the
purposes of the subsequent application of the provisions of the Plan as having been granted at the time when the corresponding Old Options were granted and, with effect from the date on which the New Options are granted:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2.1** save for the definitions of "Participating Company" and "Group Company" in Rule
1, references to the "Company" (including the definition in Rule 1) shall be construed as being references to the Acquiring Company or such other company to whose shares the New Option relates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2.2** references to "Shares" (including the definition in Rule 1) shall be construed as being
references to shares in the Acquiring Company or shares in such other company to which the New Options relate but references to Participating Company shall continue to be construed as if references to the Company were references to Indivior
Pharmaceuticals, Inc.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2.3** the Savings Contract made in connection with the Old Option has been made in connection with the New
Option; the Bonus Date in relation to the New Option was the same as in relation to the Old Option; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.2.4** notwithstanding the above, the scheme organiser of the Plan shall remain unchanged (as defined in
paragraph 2(2) of Schedule 3).

---

| | |
|:---|:---|
| **10** | **Variation of Share Capital**  |

---

**10.1** In the event of any capitalisation (other than a scrip issue), rights issue, consolidation, subdivision,
reduction or other variation of the share capital of the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1.1** the number of Shares comprised in an Option;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1.2** their Exercise Price; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.1.3** where an Option has been exercised but no Shares have been allotted or transferred in satisfaction of
such exercise, the number of Shares to be so allotted or transferred and their Exercise Price,

------

may be varied in such manner as the Directors shall determine provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the variation or variations made under this Rule 9.2.4 must (in particular) secure:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) that the total market value of the Shares which may be acquired by the exercise of the Option is immediately
after the variation or variations substantially the same as what it was immediately before the variation or variations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that the total price at which those Shares may be acquired is immediately after the variation or variations
substantially the same as what it was immediately before the variation or variations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) except as provided in Rules 10.2 and 10.3, no variation shall be made which would result in the Exercise Price
for an allotted Share being less than its nominal value.

**10.2** Any adjustment made to the Exercise Price of unissued Shares which would have the effect of reducing the
Exercise Price to less than the nominal value of the Shares shall only be made if and to the extent that the Directors are authorised to capitalise from the reserves of the Company a sum equal to the amount by which the nominal value of the Shares
in respect of which the Option is exercisable exceeds the adjusted Exercise Price. The Directors may apply such sum in paying up such amount on such Shares so that on the exercise of any Option in respect of which such a reduction shall have been
made, the Directors shall capitalise such sum (if any) and apply the same in paying up such amount as aforesaid.

**10.3** Where an Option subsists over both issued and unissued Shares, an adjustment may be only be made under
Rule 10.2 if the reduction of the Exercise Price in relation to Options over both issued and unissued Shares can be made to the same extent.

**10.4** The Directors may take such steps as they consider necessary to notify Optionholders of any adjustment
made under this Rule 9.2.4 and to call in, cancel, endorse, issue or re-issue any option certificate consequent upon such adjustment.

**10.5** No adjustment shall take effect under Rule 9.2.4 if it would result in the requirements of Schedule 3
not being met in relation to any Option.

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| | |
|:---|:---|
| **11** | **Administration**  |

---

**11.1** The Directors shall have power from time to time to make and vary such regulations (not being
inconsistent with this Plan) for the implementation and administration of this Plan as they think fit.

**11.2** The decision of the Directors shall be final and binding in all matters relating to this Plan (other
than in the case of matters to be determined or confirmed by the auditors for the time being of the Company in accordance with this Plan).

**11.3** The costs of establishing and administering this Plan shall be borne by the Company. However, the
Company may require any Participating Company to enter into such arrangement with it as it shall deem necessary for each Participating Company to bear the costs borne by the Company directly or indirectly in respect of such participating
Company's employees.

**11.4** The Company may, but shall not be obliged to, provide Eligible Employees or Optionholders with copies of
any notices circulars or other documents sent to stockholders of the Company.

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---

| | |
|:---|:---|
| **12** | **Amendments**  |

---

**12.1** Subject to Rules 12.2 and 12.3 the Rules may be amended in any respect by the Directors.

**12.2** To the extent required by any applicable listing rules, no amendment to the advantage of Optionholders
or Eligible Employees (except for an amendment which could be included in an additional section adopted under this Rule 12) can be made to the provisions in the Rules (if any) relating to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.2.1** who can be an Optionholder or Eligible Employee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.2.2** the number of Shares which can be allocated under the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.2.3** the basis for determining an Optionholder's entitlement to and the terms of the Shares and any
adjustment in the event of a variation in the share capital of the Company as described in Rule 9.2.4; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12.2.4** the terms of this Rule 12.2,

without the approval by ordinary resolution of the Company in general meeting, except for minor amendments to benefit the administration of the Plan, to take account of a change in legislation or to obtain or maintain favourable tax, exchange control or regulatory treatment for Optionholders or Eligible Employees or for a member of the Group.

**12.3** No amendment of a Key Feature of the Plan shall have effect at time when the Plan is a Schedule 3 SAYE
Plan and such status is intended to be maintained if it would result in the requirements of Parts 2 to 7 of Schedule 3 not being met in relation to the Plan. If such status is not to be maintained, the first sentence of this rule shall not apply.
The Company shall provide such information and make such declarations to HMRC in relation to any amendment to a Key Feature as is required for the purposes of Schedule 3.

**12.4** No amendment will be made under Rule 12.2 which would abrogate or materially affect adversely the
existing rights of an Optionholder unless it is made with their written consent or by a resolution passed as if the Options constituted a separate class of share capital and the provisions of the Articles of Incorporation of the Company relating to
class meetings (with the necessary amendments) applied to that class.

**12.5** Written notice of any amendment to the Plan shall be given to all Optionholders affected thereby.

**12.6** The Company can adopt additional sections of the Rules, applicable in any jurisdiction, under which
Options may be subject to additional and/or modified terms and conditions, having regard to any securities, exchange control or taxation laws, which may apply to the Optionholder, the Company, any Participating Company or Associated Company. Any
additional sections must conform to the basic principles of the Plan and must not enlarge to the benefit of Optionholders the limits in the Rules.

---

| | |
|:---|:---|
| **13** | **General**  |

---

**13.1** The Indivior 2024 UK Savings Related Share Option Plan was initially approved by the Remuneration
Committee of the board of directors of Indivior PLC, a company registered in England and Wales, on February 21, 2024, and was initially approved by the shareholders of Indivior PLC on May 9, 2024, and was thereafter approved by the
directors of Indivior PLC on September 30, 2024. This Plan (as amended and restated) was approved by the Directors on January 21, 2026 and by the Company's stockholders on January 22, 2026. This Plan (as amended and restated) will
terminate on the date of the Company's annual general meeting in 2036.

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**13.2** The Company will at all times keep available sufficient authorised and unissued Shares, or shall ensure
that sufficient Shares will be available, to satisfy the exercise to the full extent still possible of all subsisting Options, taking account of any other obligations of the Company to issue Shares.

**13.3** Notwithstanding any other provision of this Plan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.3.1** this Plan shall not form part of any contract of employment between any Participating Company and any
employee of any such company and the rights and obligations of any individual under the terms of their office or employment with any Group Company shall not be affected by their participation in this Plan or any right which they may have to
participate in it and this Plan shall afford such an individual no additional rights to compensation or damages in consequence of the termination of such office or employment for any reason whatsoever;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.3.2** no Optionholder shall be entitled to any compensation or damages for any loss or potential loss which
they may suffer by reason of being unable to exercise an Option in consequence of the loss or termination of their office or employment with any Group Company for any reason whatsoever;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.3.3** Participation in the Plan does not affect the rights of any Eligible Employee (whether beneficially or
adversely) under any pension scheme which relates to their employment. In particular (but without limitation), the contributions payable to such a pension scheme by their employer, and the benefits provided to or in respect of any Eligible Employee
under the pension scheme, are not to be increased as a result of their participation in the Plan or the benefits received by them under the Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.3.4** this Plan shall not confer on any person any legal or equitable rights (other than those constituting
the Options themselves) against any Group Company directly or indirectly, or give rise to any cause of action at law or in equity against any Group Company.

**13.4** Save as otherwise provided in this Plan any notice or communication to be given to any Eligible Employee
or Optionholder may be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.4.1** delivered by electronic mail and it shall be deemed to have been received upon electronic confirmation
of such delivery;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.4.2** personally delivered or sent by ordinary post to their last known address and where a notice or
communication is sent by post it shall be deemed to have been received 48 hours after the same was put into the post properly addressed and stamped; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13.4.3** provided electronically through a website hosted by the Company or an agent of the Company, provided
that the Eligible Employee or Optionholder is notified by electronic mail or ordinary post that such notice or communication has been or will be provided in this manner, and it shall be deemed to have been received on the day it is posted on the
website.

------

Share certificates and other communications sent by post will be sent at the risk of the Eligible Employee or Optionholder concerned and neither the Company nor any of its Subsidiaries shall have any liability whatsoever to any such person in respect of any notification, document, share certificate or other communication so given, sent or made.

**13.5** Any notice to be given to the Company shall be delivered or sent to the Company at its registered
office, marked for the attention of the Company Secretary, and shall be effective upon receipt. The Directors may make other arrangements to receive notices.

**13.6** The personal data of any Eligible Employee and of any Optionholder who holds or who has held an Option
may be processed in connection with the operation of the Plan in accordance with the Group's prevailing data protection policy and as notified to Eligible Employees in accordance with applicable data protection laws. By participating in the
Plan, an Optionholder's attention is drawn to such data protection policy. The policy does not form part of these rules and may be updated from time to time. Any such updates shall be notified to Eligible Employees and the Optionholders.

**13.7** This Plan and all Options granted under it shall be governed by and construed in accordance with English
law.

**13.8** The English courts shall have exclusive jurisdiction in relation to all disputes arising out of or in
connection with the Plan or any Option. For such purposes each party irrevocably submits to the jurisdiction of the English courts and waives any objection to the exercise of such jurisdiction.

## Exhibit 10.5

**Exhibit 10.5** 

**INDIVIOR PHARMACEUTICALS, INC.** 

**AMENDED AND RESTATED U.S. EMPLOYEE STOCK PURCHASE PLAN** 

**ARTICLE I** 

**PURPOSE AND EFFECTIVE DATE** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 The purpose of the Indivior Pharmaceuticals, Inc. Amended and Restated U.S. Employee Stock Purchase Plan (the "<u>Plan</u>") is to provide an opportunity for eligible employees to acquire a proprietary interest in Indivior Pharmaceuticals, Inc. (the "<u>Company</u>") through accumulated payroll deductions. It is the intent of the Company to have the Plan qualify as an "employee stock purchase plan" under Section 423 of the Code, including any amendments or replacements of such section. The provisions of the Plan shall be construed to extend and limit participation in a manner consistent with the requirements of Section 423 of the Code. No option shall be granted under the Plan after the date as of which the Plan is terminated by the Board in accordance with Section 11.7 of the Plan.

**ARTICLE II** 

**DEFINITIONS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 "<u>Account</u>" means a recordkeeping account maintained for a Participant to which payroll deductions are credited in accordance with Article VIII of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 "<u>Accumulation Period</u>" means, as to the Company or a Participating Subsidiary, a period of six (6) months commencing with the first regular payroll period commencing on or after each successive January 1 and ending on each successive June 30 and a period of six (6) months commencing with the first regular payroll period commencing on or after each successive July 1 and ending on each successive December 31. The Administrator may modify (including increasing or decreasing the length of time covered) or suspend Accumulation Periods at any time and from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 "<u>Administrator</u>" means the persons or committee appointed under Section 3.1 to administer the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 "<u>Article</u>" means an Article of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 "<u>Base Earnings</u>" means base salary and wages payable by the Company or a Participating Subsidiary to an Eligible Employee, prior to pre-tax deductions for contributions to qualified or non-qualified (under the Code) benefit plans or arrangements, and excluding bonuses, incentives and overtime pay but including commissions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 "<u>Board</u>" means the Board of Directors of the Company.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7 "<u>Code</u>" means the Internal Revenue Code of 1986, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8 "<u>Company</u>" means Indivior Pharmaceuticals, Inc., a Delaware corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9 "<u>Cut-Off Date</u>" means the date established by the Administrator from time to time by which enrollment forms must be received with respect to an Accumulation Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10 "<u>Eligible Employee</u>" means an Employee, including an employee on an Authorized Leave of Absence (as defined in Section 10.3).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11 "<u>Employee</u>" means an individual who performs services for the Company or a Participating Subsidiary pursuant to an employment relationship described in Treasury Regulations Section 1.421-1(h) or any successor provision, or an individual who would be performing such services but for such individual's Authorized Leave of Absence (as defined in Section 10.3).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12 "<u>Enrollment Date</u>" means the first Trading Day of an Accumulation Period beginning on or after January 1, 2016.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13 "<u>Exchange Act</u>" means the Securities Exchange Act of 1934, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14 "<u>Fair Market Value</u>" means, as of any applicable date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the security is listed on any established stock exchange and/or traded on the Nasdaq Stock Market, the
closing price of the security on any such exchange (or the mean between the bid and asked prices for the security if the security is so quoted instead) on the date of determination, as reported in The Wall Street Journal or such other source as the
Administrator deems reliable, or if no such reported sale of the security shall have occurred on such date, on the latest preceding date on which there was such a reported sale, in all cases, as reported in The Wall Street Journal or such other
source as the Administrator deems reliable. Unless otherwise provided by the Administrator, if there is no closing sales price (or closing bid if no sales were reported) for the security on the date of determination, then the Fair Market Value shall
be the mean between the bid and asked prices for the security on the last preceding date for which such quotation exists.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the absence of such markets for the security, the value determined by the Administrator in good faith in
accordance with the requirements of Section 423 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15 "<u>Participant</u>" means an Eligible Employee who has enrolled in the Plan pursuant to Article VI. A Participant shall remain a Participant until the applicable date set forth in Article X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.16 "<u>Participating Subsidiary</u>" means a Subsidiary incorporated under the laws of any state in the United States, a territory of the United States, Puerto Rico, or the District of Columbia, or such foreign Subsidiary approved under Section 3.4, which has adopted the Plan as a Participating Subsidiary by action of its board of directors and which has been designated by the Board in accordance with Section 3.4 as covered by the Plan, subject to the requirements of Section 423 of the Code except as noted in Section 3.4.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17 "<u>Plan</u>" means this Indivior Pharmaceuticals, Inc. Amended and Restated U.S. Employee Stock Purchase Plan, as amended from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.18 "<u>Purchase Date</u>" means the specific Trading Day during an Accumulation Period on which Shares are purchased under the Plan in accordance with Article IX. For each Accumulation Period, the Purchase Date shall be the last Trading Day occurring in such Accumulation Period. The Administrator may, in its discretion, designate a different Purchase Date with respect to any Accumulation Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19 "<u>Qualified Military Leave</u>" means an absence due to service in the uniformed services of the United States (as defined in Chapter 43 of Title 38 of the United States Code) by an individual employee of the Company or a Participating Subsidiary, provided the individual's rights to reemployment under the Uniformed Services Employment and Reemployment Rights Act of 1994 have not expired or terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20 "<u>Section</u>" means a section of this Plan, unless indicated otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.21 "<u>Securities Act</u>" means the Securities Act of 1933, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.22 "<u>Shares</u>" means shares of common stock of the Company, par value $0.001.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.23 "<u>Subsidiary</u>" means any corporation in an unbroken chain of corporations beginning with the Company if, as of the applicable Enrollment Date, each of the corporations other than the last corporation in the chain owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in the chain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.24 "<u>Trading Day</u>" means a day any national exchange nominated by the Administrator on which the Shares are listed for trading or, if not so listed, a day the Nasdaq Stock Market is open for trading.

**ARTICLE III** 

**ADMINISTRATION** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 Subject to Section 11.7, the Plan shall be administered by the Board, or a duly appointed committee of the Board ("<u>Committee</u>"). The Committee shall consist of at least one Board member, but may additionally consist of individuals who are not members of the Board. The Committee shall serve at the pleasure of the Board. If the Board does not so appoint a Committee, the Board shall administer the Plan. Any references herein to "Administrator" are, except as the context requires otherwise, references to the Board or the Committee, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 If appointed under Section 3.1, the Committee may select one of its members as chairman and may appoint a secretary. The Committee shall make such rules and regulations for the conduct of its business as it shall deem advisable; provided, however, that all determinations of the Committee shall be made by a majority of its members.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 The Administrator shall have the power, in addition to the powers set forth elsewhere in the Plan, and subject to and within the limits of the express provisions of the Plan, to construe and interpret the Plan and options granted under it; to establish, amend and revoke rules and regulations for administration of the Plan including determination of beneficiary designation requirements; to determine all questions of policy and expediency that may arise in the administration of the Plan; to allocate and delegate such of its powers as it deems desirable to facilitate the administration and operation of the Plan; and, generally, to exercise such powers and perform such acts as it deems necessary or expedient to promote the best interests of the Company. The Administrator's determinations as to the interpretation and operation of this Plan shall be final and conclusive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 The Board may designate from time to time which Subsidiaries of the Company shall be Participating Subsidiaries. Without amending the Plan, the Board may adopt special or different rules for the operation of the Plan which allow employees of any foreign Subsidiary to participate in the purposes of the Plan. In furtherance of such purposes and to the extent not inconsistent with Code Section 423, the Board may approve such modifications, procedures, rules or sub-plans as it deems necessary or desirable, including those deemed necessary or desirable to comply with any foreign laws or to realize tax benefits under foreign law. Any such different or special rules for employees of any foreign Subsidiary who are not U.S. taxpayers shall not be subject to Code Section 423 and for purposes of the Code shall be treated as separate and apart from the balance of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 This Article III relating to the administration of the Plan may be amended by the Board from time to time as may be desirable to satisfy any requirements of or under the federal securities and/ or other applicable laws of the United States, or to obtain any exemption under such laws.

**ARTICLE IV** 

**NUMBER OF SHARES** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 The number of Shares reserved under the Plan is equal to 25,000,000, subject to adjustment as described in Section 4.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 In the event of any reorganization, recapitalization, stock split, stock dividend, combination of shares, merger, consolidation, acquisition of property or shares, separation, asset spin-off, stock rights offering, liquidation or other similar change in the capital structure of the Company, the Administrator shall make such adjustment, if any, as it deems appropriate in the number, kind and purchase price of the Shares available for purchase under the Plan in order to prevent the dilution or enlargement of a Participant's rights under the Plan. The Company reserves the right to reduce the number of Shares which Employees may purchase pursuant to their enrollment in the Plan.

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**ARTICLE V** 

**ELIGIBILITY REQUIREMENTS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 Except as provided in Section 5.2, each individual who is an Eligible Employee of the Company or a Participating Subsidiary on the applicable Cut-Off Date shall become eligible to participate in the Plan in accordance with Article VI as of the first Enrollment Date following the date the individual becomes an Employee of the Company or a Participating Subsidiary, provided that the individual remains an Eligible Employee on the first day of the Accumulation Period associated with such Enrollment Date. Participation in the Plan is entirely voluntary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 Employees meeting any of the following restrictions are not eligible to participate in the Plan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Employees who, immediately upon enrollment in the Plan or upon grant of an option would own directly or
indirectly, or hold options or rights to acquire, an aggregate of five percent (5%) or more of the total combined voting power or value of all outstanding shares of all classes of stock of the Company or any Subsidiary (and for purposes of this
paragraph, the rules of Code Section 424(d) shall apply, and stock which the Employee may purchase under outstanding options shall be treated as stock owned by the Employee);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Employees (other than individuals on Authorized Leave of Absence (as defined in Section 10.3)) who are
customarily employed by the Company or a Participating Subsidiary for not more than twenty (20) hours per week; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Employees (other than individuals on Authorized Leave of Absence (as defined in Section 10.3)) who are
customarily employed by the Company or a Participating Subsidiary for not more than five (5) months in any calendar year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 The Plan is intended to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the options shall be granted and may be exercised, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and the options granted hereunder shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.

**ARTICLE VI** 

**ENROLLMENT** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 Eligible Employees who meet the requirements of Article V are able to enroll in the Plan on the first day of each Accumulation Period. Any Eligible Employee may consent to enrollment in the Plan for an Accumulation Period by completing and signing an enrollment form (which authorizes payroll deductions during such Accumulation Period in accordance with Section 8.1) and submitting such enrollment form to the Company or the Participating Subsidiary on or before the Cut-Off Date specified by the Administrator. Payroll deductions pursuant to the

------

enrollment form shall be effective as of the first payroll period with a pay day after the Enrollment Date for the Accumulation Period to which the enrollment form relates, and shall continue in effect until the earliest of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The end of the last payroll period with a payday in the Accumulation Period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The date during the Accumulation Period as of which the Employee elects to cease his or her enrollment in
accordance with Section 8.3; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The date during the Accumulation Period as of which the Employee withdraws from the Plan or has a termination
of employment in accordance with Article X.

**ARTICLE VII** 

**GRANT OF OPTIONS ON ENROLLMENT** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 The enrollment by an Eligible Employee in the Plan as of an Enrollment Date will constitute the grant as of such Enrollment Date by the Company to such Participant of an option to purchase Shares from the Company pursuant to the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 An option granted to a Participant pursuant to this Plan shall expire, if not terminated earlier for any reason, on the earliest to occur of: (a) the end of the Purchase Date with respect to the Accumulation Period in which such option was granted; (b) the completion of the purchase of Shares under the option under Article IX; or (c) the date on which participation of such Participant in the Plan terminates for any reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 As of each Enrollment Date, except as otherwise provided below, on the Enrollment Date of each Accumulation Period, each Participant in such Accumulation Period shall automatically be granted an option to purchase on each Purchase Date during such Accumulation Period (at the applicable purchase price) up to a maximum number of Shares, subject to the terms of the Plan, equal to the quotient of ten thousand dollars ($10,000) divided by the Fair Market Value of a Share on the Enrollment Date of such Accumulation Period. The Administrator may, in its discretion and prior to the Enrollment Date of an Accumulation Period change the maximum number of Shares that may be purchased by a Participant in such Accumulation Period or on any Purchase Date within an Accumulation Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4 Notwithstanding any other provision of this Plan, no Participant may be granted an option which permits his or her rights to purchase Shares under the Plan and any other Code Section 423 employee stock purchase plan of the Company or any of its Subsidiaries or parent companies to accrue (when the option first becomes exercisable) at a rate which exceeds twenty-five thousand dollars ($25,000) of Fair Market Value of such Shares (determined at the time such option is granted) for each calendar year in which such option is outstanding at any time.

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**ARTICLE VIII** 

**PAYROLL DEDUCTIONS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 An Employee who files an enrollment form pursuant to Article VI shall elect and authorize in such form to have deductions made from his or her pay on each payday he or she receives a paycheck during the Accumulation Period to which the enrollment form relates, and he or she shall designate in such form the percentage (in whole percentages) of Base Earnings to be deducted each payday during such Accumulation Period. The minimum an Employee may elect and authorize to have deducted is one percent (1%) of his or her Base Earnings paid per pay period in such Accumulation Period, and the maximum is ten percent (10%) of his or her Base Earnings paid per pay period in such Accumulation Period (or such larger or smaller percentage as the Administrator may designate from time to time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 Except as provided in the last paragraph of Section 6.1, deductions from a Participant's Base Earnings shall commence upon the first payday on or after the commencement of the Accumulation Period, and shall continue until the date on which such authorization ceases to be effective in accordance with Article VI. The amount of each deduction made for a Participant shall be credited to the Participant's Account. All payroll deductions received or held by the Company or a Participating Subsidiary may be, but are not required to be, used by the Company or Participating Subsidiary for any corporate purpose, and the Company or Participating Subsidiary shall not be obligated to segregate such payroll deductions, but may do so at the discretion of the Administrator.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3 As of the last day of any month during an Accumulation Period, a Participant may elect to cease (but not to increase or decrease) payroll deductions made on his or her behalf for the remainder of such Accumulation Period by filing the applicable election with the Company or Participating Subsidiary in such form and manner and at such time as may be permitted by the Administrator. A Participant who has ceased payroll deductions may have the amount which was credited to his or her Account prior to such cessation applied to the purchase of Shares as of the Purchase Date, in accordance with Section 9.1, and receive the balance of the Account with respect to which the enrollment is ceased, if any, in cash. A Participant who has ceased payroll deductions may also voluntarily withdraw from the Plan pursuant to Section 10.1. Any Participant who ceases payroll deductions for an Accumulation Period may re-enroll in the Plan on the next subsequent Enrollment Date following the cessation in accordance with the provisions of Article VI. A Participant who ceases to be employed by the Company or any Participating Subsidiary will cease to be a Participant in accordance with Section 10.2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4 A Participant may not make any separate or additional contributions to his Account under the Plan. Neither the Company nor any Participating Subsidiary shall make separate or additional contributions to any Participant's Account under the Plan.

**ARTICLE IX** 

**PURCHASE OF SHARES** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 Subject to Section 9.2, any option held by the Participant which was granted under this Plan and which remains outstanding as of a Purchase Date shall be deemed to have been exercised on such Purchase Date for the purchase of the number of Shares (including partial or fractional Shares) which the funds accumulated in his or her Account as of the Purchase Date will purchase at the applicable purchase price (but not in excess of the number of Shares for which

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options have been granted to the Participant pursuant to Section 7.3). Any purchase of Shares will be based on the applicable currency in which the Shares are listed and traded on an established stock exchange on the Purchase Date, and any required currency conversion shall be based on the closing day exchange rates as reported in The Wall Street Journal or such other source as the Administrator deems reliable. No Shares will be purchased on behalf of any Participant who fails to file an enrollment form authorizing payroll deductions for an Accumulation Period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 A Participant who holds an outstanding option as of a Purchase Date shall not be deemed to have exercised such option if the Participant elected not to exercise the option by withdrawing from the Plan in accordance with Section 10.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3 Except as otherwise set forth in this Section 9.3, the purchase price for each Share purchased under any option shall be eighty-five percent (85%) of the lower of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Fair Market Value of a Share on the Enrollment Date on which such option is granted; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Fair Market Value of a Share on the Purchase Date.

Notwithstanding the above, the Administrator may establish a different purchase price for each Share purchased under any option provided that such purchase price is determined at least thirty (30) days prior to the Accumulation Period for which it is applicable and provided that such purchase price may not be less than the purchase price set forth above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.4 If Shares are purchased by a Participant pursuant to Section 9.1, then such Shares shall be held in non-certificated form at a bank or other appropriate institution selected by the Administrator until the earlier of the Participant's termination of employment or the time a Participant requests delivery of certificates representing such shares, which would only be possible if the Administrator resolved that share certificates shall be issued. If any law governing corporate or securities matters, or any applicable regulation of the Securities and Exchange Commission or other body having jurisdiction with respect to such matters, shall require that the Company or the Participant take any action in connection with the Shares being purchased under the option, delivery of such Shares shall be postponed until the necessary action shall have been completed, which action shall be taken by the Company at its own expense, without unreasonable delay. Shares transferred pursuant to this Section 9.4 shall be registered in the name of the Participant or, if the Participant so elects, in the names of the Participant and one or more such other persons as may be designated by the Participant in joint tenancy with rights of survivorship or in tenancy by the entireties or as spousal community property, or in such forms of trust as may be approved by the Administrator, to the extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.5 In the case of Participants employed by a Participating Subsidiary, the Administrator may provide for Shares to be sold through the Subsidiary to such Participants, to the extent consistent with and governed by Section 423 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.6 If the total number of Shares for which an option is exercised on any Purchase Date in accordance with this Article IX, when aggregated with all Shares previously granted under this Plan, exceeds the maximum number of Shares reserved in Section 4.1 (as may be adjusted pursuant to Section 4.2), the Administrator shall make a pro rata allocation of the Shares available for delivery and distribution in as nearly a uniform manner as shall be practicable and as it shall determine to be equitable, and the balance of the cash amount credited to the Account of each Participant under the Plan shall be returned to him or her as promptly as administratively practical.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.7 If a Participant or former Participant sells, transfers, or otherwise makes a disposition of Shares purchased pursuant to an option granted under the Plan within two (2) years after the date such option is granted or within one (1) year after the Purchase Date to which such option relates, or if the Participant or former Participant otherwise has a taxable event relating to Shares purchased under the Plan, and if such Participant or former Participant is subject to U.S. federal income tax, then such Participant or former Participant shall notify the Company or Participating Subsidiary in writing of any such sale, transfer or other disposition within ten (10) days of the consummation of such sale, transfer or other disposition, and shall remit to the Company or Participating Subsidiary or authorize the Company or Participating Subsidiary to withhold from other sources such amount as the Company may determine to be necessary to satisfy any federal, state, or local tax withholding obligations of the Company or Participating Subsidiary. A Participant must reply to a written request, within ten (10) days of the receipt of such written request, from the Company, Participating Subsidiary, or Administrator regarding whether such a sale, transfer or other disposition has occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.8 The Administrator may from time to time establish rules and procedures (including but not limited to postponing delivery of Shares until the earlier of the expiration of the two (2) year or one (1) year period or the disposition of such Shares by the Participant) to cause the withholding requirements to be satisfied.

**ARTICLE X** 

**WITHDRAWAL FROM THE PLAN; TERMINATION OF EMPLOYMENT;** 

**LEAVE OF ABSENCE;** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 <u>Withdrawal from the Plan</u>. Effective as of the last day of any calendar quarter during an Accumulation Period, a Participant may withdraw from the Plan in full (but not in part) by delivering a notice of withdrawal to the Company (in a manner prescribed by the Administrator) at least ten (10) business days prior to the end of such calendar quarter (but in no event later than the June 1 or December 1 immediately preceding the Purchase Date for the Plan's two Accumulation Periods, respectively). Upon such withdrawal from participation in the Plan, all funds then accumulated in the Participant's Account shall not be used to purchase Shares, but shall instead be distributed to the Participant as soon as administratively practical after the end of such calendar quarter, and the Participant's payroll deductions shall cease as of the end of such calendar quarter. An Employee who has withdrawn during an Accumulation Period may not return funds to the Company or a Participating Subsidiary during the same Accumulation Period and require the Company or Participating Subsidiary to apply those funds to the purchase of Shares, nor may such Participant's payroll deductions continue, in accordance with Article VI. Any Eligible Employee who has withdrawn from the Plan may, however, re-enroll in the Plan on the next subsequent Enrollment Date following withdrawal in accordance with the provisions of Article VI.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 <u>Termination of Employment</u>. Participation in the Plan terminates immediately when a Participant ceases to be employed by the Company or any Participating Subsidiary for any reason whatsoever, including but not limited to termination of employment, whether voluntary or involuntary, or on account of death, disability, or retirement, or if the participating Subsidiary employing the Participant ceases for any reason to be a Participating Subsidiary. Participation in the Plan also terminates immediately when a Participant ceases to be an Eligible Employee under Article V or withdraws from the Plan. Upon termination of participation such terminated Participant's outstanding options shall thereupon terminate. As soon as administratively practical after termination of participation, the Company shall pay to the Participant or legal representative all amounts accumulated in the Participant's Account and held by the Company at the time of termination of participation, and any Participating Subsidiary shall pay to the Participant or legal representative all amounts accumulated in the Participant's Account and held by the Participating Subsidiary at the time of termination of participation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3 <u>Leaves of Absence</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If a Participant takes a leave of absence (other than an Authorized Leave of Absence) without terminating
employment, such Participant will be deemed to have discontinued contributions to the Plan in accordance with Section 8.3, but will remain a Participant in the Plan through the balance of the Accumulation Period in which his or her leave of
absence begins, so long as such leave of absence does not exceed ninety (90) days. If a Participant takes a leave of absence (other than an Authorized Leave of Absence) without terminating employment, such Participant will be deemed to have
withdrawn from the Plan in accordance with Section 10.1 if such leave of absence exceeds ninety (90) days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) An Employee on an Authorized Leave of Absence shall remain a Participant in the Plan and, in the case of a paid
Authorized Leave of Absence, shall have deductions made under Section 8.1 from payments that would, but for the Authorized Leave of Absence, be Base Earnings. An Employee who does not return from an Authorized Leave of Absence on the scheduled
date (or, in the case of Qualified Military Leave, prior to the date such individual's reemployment rights under the Uniformed Services Employment and Reemployment Rights Act of 1994 have expired or terminated) shall be deemed to have
terminated employment on the last day of such Authorized Leave of Absence (or, in the case of Qualified Military Leave, the date such reemployment rights expire or are terminated).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) An " <u>Authorized Leave of Absence</u> " means (a) a Qualified Military Leave, and (b) an
Employee's absence of more than ninety (90) days which has been authorized, either pursuant to a policy of the Company or the Participating Subsidiary that employs the Employee, or pursuant to a written agreement between the employer and
the Employee, which policy or written agreement guarantees the Employee's rights to return to employment.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4 <u>Other Adjustments</u>. In the event of any transaction or event described in Section 4.2 or any unusual or nonrecurring transactions or events affecting the Company, any affiliate of the Company, or the financial statements of the Company or any affiliate, or of changes in applicable law or accounting principles, the Administrator, in its discretion, and on such terms and conditions as it deems appropriate, is hereby authorized to take any one or more of the following actions whenever the Administrator determines that such action is appropriate in order to prevent the dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan or with respect to any right under the Plan, to facilitate such transactions or events or to give effect to such changes in laws, regulations or principles: (a) to provide for either (i) termination of any outstanding option in exchange for an amount of cash, if any, equal to the amount that would have been obtained upon the exercise of such option had such option been currently exercisable or (ii) the replacement of such outstanding option with other rights or property selected by the Administrator in its sole discretion; (b) to provide that the outstanding options under the Plan shall be assumed by the successor or survivor corporation, or a parent or subsidiary thereof, or shall be substituted for by similar rights covering the stock of the successor or survivor corporation, or a parent or subsidiary thereof, with appropriate adjustments as to the number and kind of shares and prices; (c) to make adjustments in the number and type of Shares (or other securities or property) subject to outstanding options under the Plan and/or in the terms and conditions of outstanding options and rights that may be granted in the future; (d) to provide that Participants' accumulated payroll deductions may be used to purchase Shares prior to the next occurring Purchase Date on such date as the Administrator determines in its sole discretion and the Participants' options under the ongoing Accumulation Period shall be terminated; and; (e) to provide that all outstanding options shall terminate without being exercised.

**ARTICLE XI** 

**MISCELLANEOUS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 <u>Interest</u>. Interest or earnings will not be paid or accrued on any Employee Accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 <u>Restrictions on Transfer</u>. The rights of a Participant under the Plan shall not be assignable or transferable by such Participant, and an option granted under the Plan may not be exercised during a Participant's lifetime other than by the Participant. Any such attempt at assignment, transfer, pledge or other disposition shall be without effect, except that the Company may treat such act as an election to withdraw from the Plan in accordance with Section 10.1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3 <u>Administrative Assistance</u>. If the Administrator in its discretion so elects, it may retain a brokerage firm, bank, other financial institution or other appropriate agent to assist in the purchase of Shares, delivery of reports or other administrative aspects of the Plan. If the Administrator so elects, each Participant shall (unless prohibited by applicable law) be deemed upon enrollment in the Plan to have authorized the establishment of an account on his or her behalf at such institution. Shares purchased by a Participant under the Plan shall be held in the account in the Participant's name, or if the Participant so indicates in the enrollment form, in the Participant's name together with the name of one or more other persons in joint tenancy with right of survivorship or in tenancy by the entireties or as spousal community property, or in such forms of trust as may be approved by the Administrator, to the extent permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4 <u>Costs</u>. All costs and expenses incurred in administering the Plan shall be paid by the Company or Participating Subsidiaries, including any brokerage fees on the purchased Shares; excepting that any stamp duties, transfer taxes, fees to issue stock certificates, and any brokerage fees on the sale price applicable to participation in the Plan after the initial purchase of the Shares on the Purchase Date shall be charged to the Account or brokerage account of such Participant.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.5 <u>Equal Rights and Privileges</u>. All Eligible Employees shall have equal rights and privileges with respect to the Plan so that the Plan qualifies as an "employee stock purchase plan" within the meaning of Section 423 or any successor provision of the Code and the related regulations. Notwithstanding the express terms of the Plan, any provision of the Plan which is inconsistent with Section 423 or any successor provision of the Code shall without further act or amendment by the Company or the Board be reformed to comply with the requirements of Code Section 423. This Section 11.5 shall take precedence over all other provisions in the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.6 <u>Applicable Law</u>. The Plan shall be governed by the substantive laws (excluding the conflict of laws rules) of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.7 <u>Amendment</u>. The Board may amend or modify the Plan at any time; provided, however, that, to the extent required by any applicable listing rules, no amendment which would amend or modify to the advantage of Participants (i) the definition of Eligible Employees entitled to participate in the Plan, (ii) the maximum number of Shares reserved for sale and issuance under the Plan pursuant to Section 4.1, (iii) the number, kind and purchase price of the Shares available for purchase in order to permit the enlargement of a Participant's rights under the Plan pursuant to Section 4.2, (iv) the maximum Fair Market Value option amount that a Participant may be granted in a calendar year under the Plan pursuant to Section 7.4, or (v) the requirements of any securities exchange on which the Shares are traded, in each case shall be effective unless it is approved by the stockholders of the Company. Notwithstanding the above, the Administrator may without such approval make minor amendments to benefit the administration of the Plan or to take account of changes in relevant legislation or to obtain or maintain favorable tax, exchange control or regulatory treatment for Participants, the Company or Participating Subsidiaries. No amendment or modification of the Plan requiring stockholder approval under Code Section 423 shall be effective until such approval has been given in accordance with the requirements of Code Section 423. In addition, the Administrator may amend the Plan as provided in Section 3.3, subject to the conditions set forth therein and in this Section 11.7.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.8 <u>Term of the Plan</u>. The Plan was initially approved by the Remuneration Committee of the Board of Directors of Indivior PLC, a company registered in England and Wales, on November 19, 2015, and was initially approved by the shareholders of Indivior PLC on May 12, 2016, and was thereafter amended by resolution of (a) the Board of Directors of Indivior PLC on September 24, 2020, (b) the Remuneration Committee on February 14, 2023, and (c) the Remuneration Committee on September 30, 2024. This Plan (as amended and restated) was approved by the Board on January 21, 2026 and by the Company's stockholders on January 22, 2026. This Plan (as amended and restated) will remain in effect until the first to occur of: (i) its termination by the Board, or (ii) the expiry of ten years from the date of approval by the Company's stockholders of this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.9 <u>Effect of Termination</u>. If the Plan is terminated, the Board may elect to terminate all outstanding options either prior to their expiration or upon completion of the purchase of Shares on the next Purchase Date, or may elect to permit options to expire in accordance with the terms of this Plan (and participation to continue through such expiration dates). If the options are terminated prior to expiration, all funds accumulated in Participants' Accounts as of the date the options are terminated shall be returned to the Participants as soon as administratively feasible.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.10 <u>No Right of Employment</u>. Neither the grant nor the exercise of any rights to purchase Shares under this Plan nor anything in this Plan shall impose upon the Company or Participating Subsidiary any obligation to employ or continue to employ any employee. The right of the Company or Participating Subsidiary to terminate any employee shall not be diminished or affected because any rights to purchase Shares have been granted to such employee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.11 <u>No Impact on Benefits</u>. Any grant of an option to purchase Shares pursuant to the Plan shall not be considered compensation for purposes of calculating a Participant's rights under any employee benefit or pension plan that does not specifically require the inclusion of such grant of an option to purchase Shares in calculating benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.12 <u>Requirements of Law</u>. The Company shall not be required to sell, issue, or deliver any Shares under this Plan if such sale, issuance, or delivery might constitute a violation by the Company or the Participant of any provision of law. Unless a registration statement under the Securities Act is in effect with respect to the Shares proposed to be delivered under the Plan, the Company shall not be required to issue such Shares if, in the opinion of the Company or its counsel, such issuance would violate the Securities Act. Regardless of whether such Shares have been registered under the Securities Act or registered or qualified under the securities laws of any state, the Company may impose restrictions upon the hypothecation or further sale or transfer of such shares if, in the judgment of the Company or its counsel, such restrictions are necessary or desirable to achieve compliance with the provisions of the Securities Act, the securities laws of any state, or any other law or are otherwise in the best interests of the Company. Any determination by the Company or its counsel in connection with any of the foregoing shall be final and binding on all parties. The Company may, but shall not be obligated to, register or qualify any securities covered by the Plan. The Company shall not be obligated to take any other affirmative action in order to cause the grant or exercise of any right or the issuance, sale, or deliver of Shares pursuant to the exercise of any right to comply with any law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.13 <u>Gender</u>. When used herein, masculine terms shall be deemed to include the feminine, except when the context indicates to the contrary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.15 <u>Withholding of Taxes</u>. The Company or Participating Subsidiary may withhold from any purchase of Shares under this Plan or any sale, transfer or other disposition thereof any local, state, federal or foreign taxes, employment taxes, social taxes or other taxes at such times and from such other amounts as it deems appropriate. The Company or Participating Subsidiary may require the Participant to remit an amount in cash sufficient to satisfy any required withholding amounts to the Company or Participating Subsidiary, as the case may be.

## Exhibit 10.6

**Exhibit 10.6.1** 

**INDIVIOR PHARMACEUTICALS, INC.** 

**2026 OMNIBUS EQUITY INCENTIVE PLAN** 

**INCLUDING THE U.K. SUB-PLAN AND THE FRENCH SUB-PLAN** 

**SECTION 1. Purpose.** The purpose of this 2026 Omnibus Equity Incentive Plan (the "<u>Plan</u>") is to enable the Company (as defined below) to grant equity compensation awards and other types of incentive compensation and promote the success and enhance the value of the Company by linking the individual interests of the Company's directors, officers, employees and consultants to those of Company stockholders and by providing such individuals with an incentive for outstanding performance to generate superior returns to Company stockholders. The Plan is intended to provide the Company with flexibility in its ability to motivate, attract and retain the services of such individuals upon whose judgment, interests and special effort the successful conduct of the Company's operation is largely dependent. The Plan is further intended to replace the Prior Plans (as defined below) as of the Effective Date (as defined below) and, as of the Effective Date, no additional awards may be granted under the Prior Plans. Notwithstanding the foregoing and anything herein to the contrary, any awards granted under the Prior Plans shall remain in effect pursuant to their terms.

**SECTION 2. Definitions and Interpretations.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Definitions</u>. As used herein, the following terms shall have the meanings set forth below:

"<u>Affiliate</u>" means (a) any entity that, directly or indirectly, is controlled by, controls or is under common control with, the Company and (b) any entity in which the Company has a significant equity interest, in either case, as determined by the Committee.

"<u>Applicable Exchange</u>" means the Nasdaq Stock Market or any other national stock exchange or quotation system on which the Shares may be listed or quoted.

"<u>Applicable Law</u>" means legal requirements relating to the Plan under U.S. federal and state corporate law, U.S. federal and state securities law, the Code, the Applicable Exchange and the applicable laws of the United Kingdom or any other country or jurisdiction where Awards are, or will be, granted, exercised, vested or settled, as such laws, rules, regulations and requirements shall be in place from time to time.

"<u>Award</u>" means any award that is permitted under Section 6 and granted under the Plan or any Sub-Plan.

"<u>Award Agreement</u>" means any written or electronic agreement, contract or other instrument or document evidencing any Award.

"<u>Board</u>" means the Board of Directors of the Company.

"<u>Cash Incentive Award</u>" means an Award that is settled in cash and the value of which is set by the Committee but is not calculated by reference to the Fair Market Value of a Share.

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"<u>Change in Control</u>" means the occurrence of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Company consummates, in a single or any series of related transactions, a merger, consolidation, share exchange or other reorganization or similar transaction with any other corporation, person, or group of affiliated persons, other than a transaction: (i) that results in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or being converted into voting securities of the surviving entity) a majority of the combined voting power of the Company's, or the surviving entity's, as applicable, outstanding securities; (ii) whereby the persons controlling (directly or indirectly) the casting of the majority of the voting rights attaching to the Company's voting securities immediately prior thereto continue to control the casting of the majority of the voting rights attaching to the Company's, or the surviving entity's, as applicable, outstanding securities after the applicable transaction; or (iii) whereby the persons exercising the direct or indirect right or power to remove Directors holding a majority of the voting rights at meetings of the Board immediately prior thereto continue to exercise such direct or indirect right or power to remove Directors (or directors of the surviving entity, as applicable) holding a majority of the voting rights at meetings of the relevant board after the applicable transaction; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Company sells all or substantially all of the Company's assets;

provided that, a transaction shall not constitute a Change in Control if: (x) its primary purpose is to change the jurisdiction of the Company's jurisdiction of incorporation; or (y) its primary purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company's voting securities immediately before such transaction.

Notwithstanding the foregoing, if a Change in Control constitutes a payment event with respect to any Award (or any portion of an Award) that provides for the deferral of compensation that is subject to Section 409A of the Code, to the extent required to avoid the imposition of additional taxes under Section 409A of the Code, the transaction or event described in subsection (a) or (b) with respect to such Award (or portion thereof) shall only constitute a Change in Control for purposes of the payment timing of such Award if such transaction also constitutes a "change in control event," as defined in Treasury Regulation Section 1.409A-3(i)(5).

The Board shall have full and final authority, which shall be exercised in its sole discretion, to determine conclusively whether a Change in Control has occurred pursuant to the above definition, the date of the occurrence of such Change in Control and any incidental matters relating thereto; provided that any exercise of authority in conjunction with a determination of whether a Change in Control is a "change in control event" as defined in Treasury Regulation Section 1.409A-3(i)(5) shall be consistent with such regulation.

"<u>Clawback Policy</u>" shall have the meaning specified in Section 7(b).

"<u>Code</u>" means the U.S. Internal Revenue Code of 1986, as amended from time to time, or any successor statute thereto, and the Treasury Regulations promulgated thereunder.

"<u>Committee</u>" means the Compensation Committee of the Board or a subcommittee thereof, or such other committee of the Board as may be designated by the Board to administer the Plan.

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"<u>Company</u>" means Indivior Pharmaceuticals, Inc., a corporation organized under the laws of the State of Delaware, together with any successor thereto.

"<u>Covered Person</u>" shall have the meaning specified in Section 3(d).

"<u>Data</u>" shall have the meaning specified in Section 9(e).

"<u>Director</u>" means any member of the Board, but solely in his or her capacity as such a member of the Board.

"<u>Director Pay Limit</u>" shall have the meaning specified in Section 4(c).

"<u>Effective Date</u>" shall have the meaning specified in Section 11.

"<u>Eligible Person</u>" means any (a) individual employed by the Company or a Subsidiary, (b) Director or officer of the Company or a Subsidiary, (c) consultant or advisor to the Company or a Subsidiary who may be offered securities registrable on Form S-8 under the Securities Act or (d) to the extent any such individual may be offered securities registrable on Form S-8 under the Securities Act, any prospective employee, Director, officer, consultant or advisor who has accepted an offer of employment or service from the Company or a Subsidiary (and would satisfy the provisions of clauses (a), (b) or (c) above once such individual begins employment with or providing services to the Company or a Subsidiary).

"<u>Exchange Act</u>" means the U.S. Securities Exchange Act of 1934, as amended from time to time, or any successor statute thereto, and the regulations promulgated thereunder.

"<u>Exercise Price</u>" means (a) in the case of each Option, the price specified in the applicable Award Agreement as the price per Share at which Shares may be purchased pursuant to such Option or (b) in the case of each SAR, the price specified in the applicable Award Agreement as the reference price per Share used to calculate the amount payable to the Participant pursuant to such SAR.

"<u>Expiration Date</u>" shall have the meaning specified in Section 11.

"<u>Fair Market Value</u>" means, except as otherwise provided in the applicable Award Agreement, or as otherwise determined by the Committee, (a) with respect to any property other than Shares, the fair market value of such property determined by such methods or procedures as shall be established from time to time by the Committee and (b) with respect to Shares, as of any date, (i) the closing per Share sales price of Shares as reported by the Nasdaq Stock Market (or any Applicable Exchange upon which the Company Shares are primarily listed) for such date or if there were no sales on such date, on the closest preceding date on which there were sales of Shares or (ii) in the event there shall be no public market for the Shares on such date, the fair market value of the Shares as determined in good faith by the Committee.

"<u>French Sub-Plan</u>" means the French Sub-Plan to the Plan, as set forth in <u>Appendix B</u> (as may be amended from time to time).

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"<u>Incentive Stock Option</u>" means an option to purchase Shares from the Company that (a) is granted under Section 6(b) of the Plan and (b) is intended to qualify for special federal income tax treatment pursuant to Sections 421 and 422 of the Code, and which is so designated in the applicable Award Agreement.

"<u>ISO Limit</u>" shall have the meaning specified in Section 4(a).

"<u>Non-Employee Director</u>" means a Director of the Company who is not an officer or employee (as determined in accordance with Section 3401(c) of the Code) of the Company or of any parent of the Company or any Subsidiary.

"<u>Nonqualified Stock Option</u>" means an option to purchase Shares from the Company that (a) is granted under Section 6(b) of the Plan and (b) is not an Incentive Stock Option.

"<u>Option</u>" means an Incentive Stock Option or a Nonqualified Stock Option or both, as the context requires.

"<u>Participant</u>" means any Eligible Person who is selected by the Committee to receive an Award or who receives a Substitute Award.

"<u>Performance Goals</u>" means the goal or goals that the Committee shall select for purposes of any Award and shall be based on the attainment of specific levels of performance of the Company or any of its Subsidiaries, Affiliates, divisions or operational units, the applicable Participant or any combination of the foregoing, which may include any of the following: (a) share price; (b) net income or earnings before or after taxes (including earnings before interest, taxes, depreciation and/or amortization); (c) operating income; (d) earnings per share (including specified types or categories thereof); (e) cash flow (including specified types or categories thereof); (f) revenues (including specified types or categories thereof); (g) return measures (including specified types or categories thereof); (h) shareholder return measures (including specified types or categories thereof); (i) sales or product volume; (j) working capital; (k) gross or net profitability/profit margins (including profitability of an identifiable business unit or product); (l) objective measures of productivity or operating efficiency; (m) costs (including specified types or categories thereof); (n) expenses (including specified types or categories thereof); (o) product unit and pricing targets; (p) credit rating or borrowing levels; (q) category share (in the aggregate or by segment); (r) level or amount of acquisitions; (s) economic, enterprise, book, economic book or intrinsic book value (including on a per share basis); (t) improvements in capital structure; (u) implementation or completion of critical projects; and (v) any other measure the Committee deems appropriate.

"<u>Person</u>" means a "person" or "group" within the meaning of Sections 3(a)(9), 13(d) and 14(d) of the Exchange Act.

"<u>Plan</u>" shall have the meaning specified in Section 1.

"<u>Prior Plans</u>" means each of the Indivior Pharmaceuticals, Inc. 2024 Long-Term Incentive Plan, the Indivior Pharmaceuticals, Inc. Long-Term Incentive Plan and the Indivior Pharmaceuticals, Inc. Deferred Bonus Plan 2018.

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"<u>Public Trading Date</u>" shall mean the first date upon which Shares are listed (or approved for listing) on the Nasdaq Stock Market.

"<u>Restricted Share</u>" means a Share that is granted under Section 6(d) of the Plan that is subject to certain transfer restrictions, forfeiture provisions and/or other terms and conditions specified herein and in the applicable Award Agreement.

"<u>RSU</u>" means a restricted stock unit that is granted under Section 6(d) of the Plan and is designated as such in the applicable Award Agreement and that represents a promise to deliver Shares, cash, other securities, other Awards or other property, subject to the satisfaction of the applicable vesting conditions, in accordance with the terms of the applicable Award Agreement.

"<u>Rule</u> <u>16b</u><u>-3</u>" means Rule 16b-3 under the Exchange Act or any successor rule or regulation thereto as in effect from time to time.

"<u>SAR</u>" means a stock appreciation right that is granted under Section 6(c) of the Plan and that represents a promise to deliver Shares, cash, other securities, other Awards or other property equal in value to the excess, if any, of the Fair Market Value per Share over the Exercise Price of the SAR, subject to the terms of the applicable Award Agreement.

"<u>SEC</u>" means the U.S. Securities and Exchange Commission or any successor thereto and shall include the staff thereof.

"<u>Securities Act</u>" means the U.S. Securities Act of 1933, as amended from time to time, or any successor statute thereto, and the regulations promulgated thereunder.

"<u>Share Limit</u>" shall have the meaning specified in Section 4(a).

"<u>Shares</u>" means shares of common stock of the Company, $0.001 par value, or such other securities of the Company (a) into which such shares shall be changed by reason of a recapitalization, merger, consolidation, split-up, combination, exchange of shares or other similar transaction or (b) as may be determined by the Committee pursuant to Section 4(d).

"<u>Sub-Plan</u>" means any sub-plan established with respect to the Plan, including the U.K. Sub-Plan and the French Sub-Plan, as each may be amended from time to time.

"<u>Subsidiary</u>" means any entity in which the Company, directly or indirectly, possesses fifty percent (50%) or more of the total combined voting power of its securities.

"<u>Substitute Awards</u>" shall have the meaning specified in Section 4(e).

"<u>Treasury Regulations</u>" means all proposed, temporary and final regulations promulgated under the Code, as such regulations may be amended from time to time (including corresponding provisions of succeeding regulations).

"<u>U.K.</u>" means the United Kingdom.

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"<u>U.K. Sub-Plan</u>" means the U.K. Sub-Plan to the Plan, as set forth in <u>Appendix A</u> (as may be amended from time to time).

"<u>U.S.</u>" means the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Interpretation</u>. In the Plan, unless otherwise specified, (i) the rule headings are inserted for ease of reference only and do not affect their interpretation, (ii) a reference to a Section is a reference to a Section of the Plan unless the contrary intention appears, (iii) the singular includes the plural and vice versa, (iv) a reference to a statutory provision includes any statutory modification, amendment or re-enactment thereof, (v) references to writing shall be construed, unless the contrary intention appears, as including references to printing, lithography, photography and any other modes or representing or reproducing words in a visible form except as provided in the terms of the Plan and/or, where it constitutes writing in electronic form sent to the Company, the Company has agreed to its receipt in such form, (vi) provisions in the Plan referring to execution of any document shall include any mode of execution whether under seal or under hand or any mode of electronic signature as shall be approved by the Committee, and (vii) provisions in the Plan referring to receipt of any electronic communications shall, unless the contrary intention appears, be limited to receipt in such manner as the Committee has approved.

**SECTION 3. Administration.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Composition of the Committee.</u> The Plan (including any Sub-Plan) shall be administered by the Committee, which shall be composed of one or more Directors, as determined by the Board, provided, however, that the Board may, in its discretion, administer the Plan or any Sub-Plan with respect to Awards granted to Non-Employee Directors and, in any such case, shall have all the authority and responsibility granted to the Committee herein. Unless otherwise determined by the Board, each of the members of the Committee shall be an "independent director" under the rules of any securities exchange or automated quotation system on which the Shares are listed, quoted or traded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Authority of the Committee</u>. Subject to the terms of the Plan and Applicable Law, and in addition to the other express powers and authorizations conferred on the Committee by the Plan, the Committee shall have sole and plenary authority to administer the Plan, including the authority to (i) designate Participants, (ii) determine when and what types and amounts of Awards should be granted, (iii) determine all terms and conditions of Awards (including (subject to the limits in Section 4) the number of Shares or the amount of cash or other property to which an Award will relate, any Exercise Price or purchase price, any limitation or restriction, any schedule for or Performance Goals relating to the earning of the Award or the lapse of limitations, forfeiture restrictions, restrictions on exercisability or transferability, any Performance Goals including those relating to the Company and/or an Affiliate and/or any division thereof and/or an individual, and/or vesting based on the passage of time, based in each case on such considerations as the Committee shall determine), (iv) interpret, administer, reconcile any inconsistency in, correct any default in and supply any omission in, the Plan and any instrument or agreement relating to, or Award made under, the Plan, (v) establish, amend, suspend or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan, (vi) accelerate the vesting or exercisability of, payment for or lapse of restrictions on, Awards, (vii) make any other decision or determination (including as to whether any Performance

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Goal or other vesting conditions have been satisfied) as is provided for or may be required under the terms of the Plan, (viii) subject to Section 10, adopt, amend and administer such procedures or Sub-Plans on such terms and conditions different from those specified in the Plan as may, in the judgment of the Committee, be necessary or desirable to further the purposes of the Plan or comply with Applicable Law and (ix) take any other action that the Committee deems necessary or desirable for the administration of the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Committee Decisions</u>. Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations and other decisions under or with respect to the Plan or any Award shall be within the sole and plenary discretion of the Committee, may be made at any time and shall be final, conclusive and binding upon all Persons, including the Company, any Affiliate, any Participant, any holder or beneficiary of any Award and any stockholder. If not specified in the Plan, the time at which the Committee must or may make any determination shall be determined by the Committee, and any such determination may thereafter be modified by the Committee. The express grant of any specific power to the Committee, and the taking of any action by the Committee, shall not be construed as limiting any power or authority of the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Indemnification</u>. No member of the Board, the Committee or any employee of the Company (each such person, a "<u>Covered Person</u>") shall be liable for any action taken or omitted to be taken or any determination made in good faith with respect to the Plan or any Award. To the maximum extent permitted by Applicable Law, each Covered Person shall be indemnified and held harmless by the Company from and against (i) any loss, cost, liability or expense (including attorneys' fees) that may be imposed upon or incurred by such Covered Person in connection with or resulting from any action, suit or proceeding to which such Covered Person may be a party or in which such Covered Person may be involved by reason of any action taken or omitted to be taken under the Plan or any Award Agreement and (ii) any and all amounts paid by such Covered Person, with the Company's approval, in settlement thereof, or paid by such Covered Person in satisfaction of any judgment in any such action, suit or proceeding against such Covered Person; <u>provided</u> that the Company shall have the right, at its own expense, to assume and defend any such action, suit or proceeding, and, once the Company gives notice of its intent to assume the defense, the Company shall have sole control over such defense with counsel of the Company's choice. The foregoing right of indemnification shall not be available to a Covered Person to the extent that a court of competent jurisdiction in a final judgment or other final adjudication, in either case not subject to further appeal, determines that the acts or omissions of such Covered Person giving rise to the indemnification claim resulted from such Covered Person's bad faith, fraud or willful criminal act or omission or that such right of indemnification is otherwise prohibited by law or by the Company's Certificate of Incorporation or Bylaws, in each case, as may be amended from time to time. The foregoing right of indemnification shall not be exclusive of any other rights of indemnification to which Covered Persons may be entitled under the Company's Certificate of Incorporation or Bylaws, as a matter of law, or otherwise, or any other power that the Company may have to indemnify such persons or hold them harmless.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Delegation of Authority</u>. Subject to the terms of Applicable Law, the Company's Certificate of Incorporation and Bylaws, the Committee may delegate to one or more Directors or officers of the Company the authority to make grants of Awards to current and prospective Eligible Persons and all necessary and appropriate decisions and determinations with respect thereto, subject to any conditions or requirements imposed by the Committee on the exercise of such delegated authority; <u>provided</u> that in no event shall an officer of the Company be delegated the authority to grant Awards to, or amend Awards held by, the following individuals: (i) individuals who are subject to Section 16 of the Exchange Act, or (ii) officers of the Company (or Directors) to whom authority to grant or amend Awards has been delegated hereunder. The Committee may revoke or amend the terms of any delegation at any time but such action shall not invalidate any prior actions of the Committee's delegate or delegates that were consistent with the terms of the Plan and the Committee's prior delegation.

**SECTION 4. Shares Subject to the Plan.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Share Limits</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;(i) Subject to adjustment as provided in Section 4(d), the maximum number of Shares that may be issued pursuant to Awards (inclusive of any Awards made pursuant to any Sub-Plan) shall be equal to the sum of (A) 17,500,000 and (B) any Shares, which as of the Effective Date, are subject to awards under the Prior Plans, which are forfeited or lapse unexercised and which following the Effective Date are not issued under the Prior Plans (the "<u>Share Limit</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;(ii) Subject to adjustment as provided in Section 4(d), the maximum number of Shares that may be delivered upon the exercise of Incentive Stock Options shall be equal to 17,500,000 (the "<u>ISO Limit</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Share Usage</u>. If, after the Effective Date, (A) any Award is forfeited, or otherwise expires, terminates or is canceled without the issuance of all Shares subject thereto, (B) any Award is settled other than wholly by issuance of Shares (including cash settlement), or (C) any dividend or dividend equivalent in connection with any Award is settled other than wholly by issuance of Shares (including cash settlement), then, in each such case, the number of Shares subject to such Award that were not issued, or were tendered or substituted, with respect to such Award shall not be treated as issued for purposes of reducing the Share Limit; <u>provided</u>, <u>however</u>, that Shares (1) surrendered or tendered to the Company in payment of the Exercise Price of an Option, (2) surrendered or tendered to the Company in payment of any taxes withheld in respect of an Award, (3) subject to a SAR that are not issued in connection with its stock settlement on exercise with respect to the Exercise Price thereof, or (4) reacquired by the Company on the open market or otherwise using cash proceeds from the exercise of Options shall, in the case of subsections (1), (2), (3) and (4), be treated as issued for purposes of the Share Limit. Notwithstanding the provisions of this Section 4(b), no Shares may again be optioned, granted or awarded if such action would cause an Incentive Stock Option to fail to qualify as an incentive stock option under Section 422 of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Non-Employee Director Limit</u>. No Non-Employee Director may be paid or granted, in any fiscal year, cash compensation and equity awards (including any Awards issued under the Plan) with an aggregate value greater than $1,000,000 (with the value of each Award (or any other equity award) based on its grant date fair value (determined in accordance with U.S. generally accepted accounting principles)) (such limits, collectively, the "<u>Director Pay Limit</u>"). Any such compensation that is deferred will be counted toward the Director Pay Limit for the year in which it was first granted, and not when paid or settled (if later). Any cash compensation paid or Awards (or any other equity awards) granted to an individual for such individual's services as an employee or consultant (other than as a Director), will not be subject to the Director Pay Limit.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Adjustments for Changes in Capitalization and Similar Events</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;(i) In the event of any extraordinary dividend or other extraordinary distribution (whether in the form of cash, Shares, other securities or other property), recapitalization, rights offering, stock split, reverse stock split, split-up or spin-off, the Committee shall equitably adjust, in the manner the Committee determines appropriate, any or all of (A) the number of Shares or other securities of the Company (or number and kind of other securities or property) with respect to which Awards may be granted, including the Share Limit and the ISO Limit, and (B) the terms of any outstanding Award so as to prevent the enlargement or diminishment of the benefits provided thereunder, including (1) the number of Shares or other securities of the Company (or number and kind of other securities or property) subject to such Award or to which such Award relates, (2) the Exercise Price, if applicable, with respect to such Award and (3) the vesting terms (including Performance Goals) applicable to such Award.

&nbsp;&nbsp;&nbsp;&nbsp;&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) Subject to Section 4(d)(i), in the event of any reorganization, merger, consolidation, combination, repurchase or exchange of Shares or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of the Company or other similar corporate transaction or event or other unusual, extraordinarily or non-recurring event (including a change in Applicable Law or accounting standards) that affects the Shares, the Company, its Affiliates or the Company's financial statements, the Committee may (A) equitably adjust any or all of (1) the number of Shares or other securities of the Company (or number and kind of other securities or property) with respect to which Awards may be granted, including the Share Limit and the ISO Limit, and (2) the terms of any outstanding Award, including (X) the number of Shares or other securities of the Company (or number and kind of other securities or property) subject to such Award or to which such Awards relates (including through the assumption of such Award by another entity or substitution of such Award for an award issued by another entity), (Y) the Exercise Price, if applicable, with respect to such Award and (Z) the vesting terms (including Performance Goals) applicable to such Award, (B) make provision for a cash payment or other property to the holder of an outstanding Award in consideration for the cancelation of such Award, including, in the case of an outstanding Option or SAR, a cash payment or other property to the holder of such Option or SAR in consideration for the cancelation of such Option or SAR in an amount (or with a Fair Market Value) equal to the excess, if any, of the Fair Market Value (as of a date specified by the Committee) of the Shares subject to such Option or SAR over the aggregate Exercise Price of such Option or SAR, (C) cancel and terminate any Option or SAR having an Exercise Price equal to, or in excess of, the Fair Market Value of a Share subject to such Option or SAR without any payment or consideration therefor or (D) in the case of an outstanding Option or SAR, establishing a date upon which such Award will expire unless exercised prior thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Substitute Awards</u>. Awards may be granted under the Plan in assumption of, or in substitution for, outstanding awards previously granted by the Company or any of its Affiliates or a company acquired by the Company or any of its Affiliates or with which the Company or any of its Affiliates combines ("<u>Substitute Awards</u>"); <u>provided</u>, <u>however</u>, that in no event may any Substitute Award be granted in a manner that would violate the prohibitions on

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repricing of Options and SARs set forth in Section 7(c). The number of Shares underlying any Substitute Awards shall not be counted against the Share Limit; <u>provided</u>, <u>however</u>, that Substitute Awards issued or intended as Incentive Stock Options shall be counted against the ISO Limit. Shares may be issued under the Plan in connection with a merger or acquisition as permitted by, as applicable, Nasdaq Listing Rule 5635(c), NYSE Listed Company Manual Section 303A.08, NYSE American Company Guide Section 711 or other applicable rule, and such issuance will not reduce the number of Shares available for issuance under the Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Sources of Shares Deliverable Under Awards</u>. Any Shares delivered pursuant to an Award may consist, in whole or in part, of authorized and unissued Shares, treasury Shares or Shares reacquired by the Company in any manner.

**SECTION 5. Eligibility.** Any Eligible Person shall be eligible to receive an Award.

**SECTION 6. Awards.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Types of Awards</u>. Awards may be made under the Plan in the form of (i) Options (including Incentive Stock Options), (ii) SARs, (iii) Restricted Shares, (iv) RSUs, (v) Cash Incentive Awards or (vi) other equity-based or equity-related Awards that the Committee determines are consistent with the purpose of the Plan and the interests of the Company. The Committee shall determine all terms and conditions of each Award (including any Performance Goals applicable thereto), which shall be set forth in the applicable Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Options.</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;(i) <u>General</u>. Each Option shall be a Nonqualified Stock Option unless the applicable Award Agreement expressly states that the Option is intended to be an Incentive Stock Option. In the case of Incentive Stock Options, the terms and conditions of such Awards shall be subject to and comply with such rules as may be prescribed by Section 421 and 422 of the Code, as may be amended from time to time. If, for any reason, an Option intended to be an Incentive Stock Option (or any portion thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a Nonqualified Stock Option appropriately granted under the 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;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Exercise Price</u>. The Exercise Price covered by each Option shall be set by the Committee, but for any such Award granted to a Participant subject to taxation in the United States, shall not be less than 100% of the Fair Market Value of such Share (determined as of the date the Option is granted); <u>provided</u>, <u>however</u>, that in the case of each Incentive Stock Option granted to an employee who, at the time of the grant of such Option, owns stock representing more than 10% of the voting power of all classes of stock of the Company or any Affiliate (a "<u>Greater Than 10% Stockholder</u>"), the Exercise Price shall be no less than 110% of the Fair Market Value per Share on the date of the grant. Notwithstanding the foregoing, in the case of an Option that is a Substitute Award, the Exercise Price covered by such Option granted to a Participant subject to taxation in the United States may be less than the Fair Market Value per Share on the date of grant; provided that such Exercise Price shall be determined in accordance with the applicable requirements of Sections 424 and 409A of the Code.

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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;(iii) <u>Vesting and Exercise</u>. Except as otherwise specified in the applicable Award Agreement, each Option may only be exercised to the extent that it has vested at the time of exercise. Each Option shall be deemed to be exercised when notice of such exercise has been given to the Company in accordance with the terms of the applicable Award Agreement and full payment pursuant to Section 6(b)(iv) for the Shares with respect to which the Option is exercised has been received by the 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;(iv) <u>Payment</u>. No Shares shall be delivered pursuant to any exercise of an Option until payment in full of the aggregate Exercise Price therefor is received by the Company. Such payments may be made in cash (or its equivalent) or, in the Committee's discretion, through any other method (or combination of methods) approved by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&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) <u>Expiration</u>. Except as otherwise set forth in the applicable Award Agreement or required by Applicable Law, each Option shall expire immediately, without any payment, upon the earlier of (A) the tenth anniversary of the date the Option is granted (or in the case of an Incentive Stock Option granted to a Greater Than 10% Stockholder, the fifth anniversary), unless such expiration date occurs at a time when trading in the Shares is prohibited by any exchange and/or insider trading policy that may be established by the Company, as amended from time to time (a "<u>Trading Policy</u>"), or any "black-out" or similar period under the Company's policies covering trading the Company's securities (a "<u>Black Out Period</u>"), in which case, solely in respect of Nonqualified Stock Options, such expiration date shall be extended automatically until the 30<sup>th</sup> day following the expiration of such prohibition (so long as such extension shall not violate Section 409A of the Code (if applicable)) and (B) three months after the date the Participant who is holding the Option ceases to be a Director, officer, employee and consultant of the Company or one of 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;&nbsp;&nbsp;&nbsp;&nbsp;(vi) <u>Additional Terms of Incentive Stock Options</u>. By accepting an Incentive Stock Option, a Participant agrees to give prompt notice to the Company of dispositions or other transfers (other than in connection with a Change in Control) of Shares acquired under the Incentive Stock Option made within the later of (A) two years from the grant date of the Incentive Stock Option or (B) one year after the transfer of such Shares to the Participant, specifying the date of the disposition or other transfer and the amount the Participant realized, in cash, other property, assumption of indebtedness or other consideration, in such disposition or other transfer. Neither the Company nor the Committee will be liable to a Participant, or any other party, if an Incentive Stock Option fails or ceases to qualify as an "incentive stock option" under Section 422 of the Code. Any Incentive Stock Option or portion thereof that fails to qualify as an "incentive stock option" under Section 422 of the Code for any reason, including becoming exercisable with respect to Shares having a fair market value exceeding the $100,000 limitation under Treasury Regulation Section 1.422-4, will be a Nonqualified Stock 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;(vii) <u>Non-Exempt Employees</u>. No Option, whether or not vested, granted to a Participant who is a non-exempt employee for purposes of the Fair Labor Standards Act of 1938, as amended (the "<u>FLSA</u>"), will be first exercisable for any Shares until at least six months following the date of grant of such Award, except as otherwise permitted under the FLSA. This Section 6(b)(vii) is intended to operate so that any income derived by a Participant who is a non-exempt employee in connection with the exercise or vesting of an Option will be exempt from the Participant's regular rate of pay.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>SARs</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;(i) <u>Exercise Price</u>. The Exercise Price covered by a SAR shall be set by the Committee, but for any such Award granted to a Participant subject to taxation in the United States, shall not be less than 100% of the Fair Market Value of such Share (determined as of the date the SAR is granted). Notwithstanding the foregoing, in the case of a SAR that is a Substitute Award, the Exercise Price of the Shares subject to such SAR granted to a Participant subject to taxation in the United States may be less than the Fair Market Value on the date of grant; provided that the Exercise Price of any Substitute Award shall be determined in accordance with the applicable requirements of Sections 424 and 409A 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;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Rights on Exercise</u>. Except as otherwise specified in the applicable Award Agreement, each SAR may only be exercised to the extent that it has vested at the time of exercise. Each SAR shall entitle the Participant to receive an amount upon exercise equal to the excess, if any, of the Fair Market Value of a Share on the date of exercise of the SAR over the Exercise Price 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;(iii) <u>Expiration</u>. Except as otherwise set forth in the applicable Award Agreement or required by Applicable Law, each SAR shall expire immediately, without any payment, upon the earlier of (A) the tenth anniversary of the date the SAR is granted, unless such expiration date occurs at a time when trading in the Shares is prohibited by any Trading Policy or any Black-Out Period, in which case, such expiration date shall be extended automatically until the 30<sup>th</sup> day following the expiration of such prohibition (so long as such extension shall not violate Section 409A of the Code (if applicable)), and (B) three months after the date the Participant who is holding the SAR ceases to be a Director, officer, employee and consultant of the Company or one of 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;&nbsp;&nbsp;&nbsp;&nbsp;(iv) <u>Non-Exempt Employees</u>. No SAR, whether or not vested, granted to a Participant who is a non-exempt employee for purposes of the FLSA will be first exercisable for any Shares until at least six months following the date of grant of such Award, except as otherwise permitted under the FLSA. This Section 6(c)(iv) is intended to operate so that any income derived by a Participant who is a non-exempt employee in connection with the exercise or vesting of a SAR will be exempt from the Participant's regular rate of pay.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Restricted Shares and RSUs</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;(i) <u>Restricted Shares</u>. Each Restricted Share shall be subject to the transfer restrictions and vesting and forfeiture provisions set forth in the applicable Award Agreement. If certificates representing Restricted Shares are registered in the name of the applicable Participant, such certificates shall bear an appropriate legend referring to the terms, conditions and restrictions applicable to such Restricted Shares, and the Company may, at its discretion, retain physical possession of such certificates until such time as all applicable restrictions lapse. If a Participant makes an election under Section 83(b) of the Code to be taxed with respect to Restricted Shares as of the date of transfer of the Restricted Shares rather than as of the date or dates upon which such Restricted Shares would otherwise be taxable under Section 83(a) of the Code, such Participant shall be required to deliver a copy of such election to the Company promptly after filing such election with the Internal Revenue Service along with proof of the timely filing thereof.

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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;(ii) <u>RSUs</u>. Each RSU shall be granted with respect to a specified number of Shares (or a number of Shares determined pursuant to a specified formula) or shall have a value equal to the Fair Market Value of a specified number of Shares (or a number of Shares determined pursuant to a specified formula). RSUs shall be paid in cash, Shares, other securities, other Awards or other property, upon the vesting thereof or such other date (or upon such other event) specified in the applicable Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Cash Incentive Awards and Other Equity-Based Awards</u>. The Committee shall have authority to grant to Participants Cash Incentive Awards and other equity-based or equity-related Awards (whether payable in cash, equity or otherwise), including fully vested Shares, in such amounts and subject to such terms and conditions as the Committee shall determine.

**SECTION 7. General Award Terms.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Dividends and Dividend Equivalents</u>. Any Award (other than an Option or SAR granted to a U.S. taxpayer, or a Cash Incentive Award granted to any Participant) may provide the Participant with dividends or dividend equivalents, payable in cash, Shares, other securities, other Awards or other property, on a current or deferred or vested or unvested basis, including (i) payment directly to the Participant, (ii) holding of such amounts by the Company subject to vesting of the Award or (iii) reinvestment in additional Shares, Restricted Shares or other Awards; <u>provided</u>, <u>however</u>, that any dividends or dividend equivalents with respect to Awards subject to vesting requirements shall be accumulated in a manner determined by the Committee until such Award is earned and such dividends and dividend equivalents shall not be paid if such vesting requirements of the underlying Award are not satisfied.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Recoupment of Awards</u>. Awards shall be subject to the Company's Executive Compensation Clawback Policy, as may be amended from time to time or any successor compensation recoupment policy thereto (the "<u>Clawback Policy</u>"). The Company may require a Participant to forfeit, return or reimburse the Company all or a portion of the Award and any amounts paid thereunder (i) pursuant to the terms of the Clawback Policy, (ii) pursuant to the terms of any other malus and clawback policies the Company may adopt from time to time, or (iii) as necessary or appropriate to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act, Rule 10D-1 of the Exchange Act, the rules and regulations of Nasdaq Stock Market or any other securities exchange on which the Shares are listed and any other Applicable Laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Repricing</u>. Notwithstanding anything herein to the contrary, in no event may any Option or SAR (i) be amended to decrease the Exercise Price thereof, (ii) be canceled at a time when its Exercise Price exceeds the Fair Market Value of the underlying Shares in exchange for another Award, any award under any other equity compensation plan or any cash payment or (iii) be subject to any action that would be treated, for accounting purposes, as a "repricing" of such Option or SAR, unless such amendment, cancelation or action is approved by the Company's stockholders. For the avoidance of doubt, an adjustment to the Exercise Price of an Option or SAR that is made in accordance with Section 4(d) shall not be considered a reduction in Exercise Price or "repricing" of such Option or SAR.

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**SECTION 8. Change in Control.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding any other provisions of the Plan and unless the Committee determines otherwise, in the event a Change in Control occurs and the surviving entity or successor corporation in such Change in Control does not assume or substitute outstanding Awards (or any portion thereof), then immediately prior to such Change in Control such outstanding Awards, to the extent not assumed or substituted, shall become fully vested and, as applicable, exercisable and all forfeiture, repurchase and other restrictions on such Awards shall lapse immediately prior to such transaction, <u>provided</u> that, unless the Committee determines otherwise, to the extent the vesting of any such Award is subject to the satisfaction of specified Performance Goals, such Award shall vest at either (as the Committee may determine) (i) the target level of performance, which may be pro-rated based on the period elapsed between the beginning of the applicable performance period and the date of the Change in Control, or (ii) the actual level of performance as of the most recent practicable date prior to the Change in Control (as determined by the Committee) with respect to all applicable Performance Goals (and the vesting pursuant to this clause (ii) shall constitute "full vesting" for purposes of this Section 8(a)). Upon, or in anticipation of, a Change in Control, the Committee may cause any and all Awards outstanding hereunder to terminate at a specific time in the future, including the date of such Change in Control, and shall give each Participant the right to exercise or receive payment in satisfaction of such Awards during a period of time as the Committee, in its sole and absolute discretion, shall determine. For the avoidance of doubt, if the value of an Award that is terminated in connection with this Section 8(a) is zero or negative at the time of such Change in Control (which value shall be determined by the Committee in its sole discretion and its determination shall be conclusive and binding), including any Options or SARs with an Exercise Price that is greater than the Fair Market Value of a Share as of the Change in Control date, such Award shall be terminated upon the Change in Control without payment of consideration therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For purposes of this Section 8, an Award shall be considered assumed or substituted if, following the Change in Control, the Award confers the right to purchase or receive, for each Share subject to the Award immediately prior to the Change in Control, the consideration (whether shares, cash or other securities or property) received in the Change in Control by holders of Shares for each Share held on the effective date of the Change in Control (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); <u>provided</u>, <u>however</u>, that if such consideration received in the Change in Control was not solely common stock of the successor corporation or its parent, the Committee may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of the Award, for each Share subject to an Award, to be solely common stock of the successor corporation or its parent substantially equal in fair market value to the per-share consideration received by holders of Shares in the Change in Control. In cases where an Award is subject to Performance Goals at the time of a Change in Control, such Award shall be considered assumed or substituted if, following the Change in Control, the Award is converted assuming achievement of the Performance Goals at target levels or as otherwise provided in the Award Agreement, which may provide that the Award shall convert on a pro rata basis based on achievement of the Performance Goals through the period immediately prior to the Change in Control. The determination of whether an Award shall be considered substituted or assumed and whether fair market value is substantially equal shall be made by the Committee in its sole discretion and its determination shall be conclusive and binding.

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**SECTION 9. General Provisions**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Nontransferability.</u> During the Participant's lifetime, each Award (and any rights and obligations thereunder) shall be exercisable only by the Participant, or, if permissible under Applicable Law, by the Participant's legal guardian or representative, and no Award (or any rights and obligations thereunder) may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant otherwise than by will or by the laws of descent and distribution, and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate; <u>provided</u> that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance. All terms and conditions of the Plan and the applicable Award Agreements shall be binding upon any permitted successors and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Limitations Applicable to Section</u> <u>16 Persons</u>. Notwithstanding any other provision of the Plan, the Plan, and any Award granted or awarded to any individual who is then subject to Section 16 of the Exchange Act, shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including Rule 16b-3 of the Exchange Act and any amendments thereto) that are requirements for the application of such exemptive rule. To the extent permitted by Applicable Law, the Plan and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>No Rights to Awards</u>. No Participant or other Person shall have any claim to be granted any Award, and there is no obligation for uniformity of treatment of Participants or holders or beneficiaries of Awards. The terms and conditions of Awards and the Committee's determinations and interpretations with respect thereto need not be the same with respect to each Participant and may be made selectively among Participants, whether or not such Participants are similarly situated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Share Certificates</u>. All certificates for Shares or other securities of the Company or any Affiliate delivered under the Plan pursuant to any Award or the exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan, the applicable Award Agreement or the rules, regulations and other requirements of the SEC, the Applicable Exchange and any Applicable Law and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. Notwithstanding any other provision of the Plan, unless otherwise determined by the Committee or required by any Applicable Law, the Company shall not deliver to any Participant certificates evidencing Shares issued in connection with any Award and instead such Shares shall be recorded in the books of the Company (or, as applicable, its transfer agent or stock plan administrator).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Data Privacy</u>. As a condition of receipt of any Award, and without prejudice to the Participant's acknowledgement of the Company's legitimate interests in processing the Participant's personal data, each Participant explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of personal data as described in this Section 9(e) by and among, as applicable, the Company and its Subsidiaries for the exclusive purpose of implementing, administering and managing the Participant's participation in the Plan. The Company and its Subsidiaries may hold certain personal information about a Participant, including but not limited to, the Participant's name, home address and telephone number, date of birth, social security or insurance number or other identification number, salary, nationality, job title(s), any shares held in the Company or any of its Subsidiaries, details of all Awards, in each case, for the purpose of implementing, managing and administering the Plan and Awards (the "<u>Data</u>"). The Company and its Subsidiaries may transfer the Data amongst themselves as necessary for the purpose of implementation, administration and management of a Participant's participation in the Plan, and the Company and its Subsidiaries may each further transfer the Data to any third parties assisting the Company and its Subsidiaries in the implementation, administration and management of the Plan. These recipients may be located in the Participant's country, or elsewhere, and the Participant's country may have different data privacy laws and protections than the recipients' country. Through acceptance of an Award, each Participant authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Participant's participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom the Company or any of its Subsidiaries or the Participant may elect to deposit any Shares. The Data related to a Participant will be held only as long as is necessary to implement, administer, and manage the Participant's participation in the Plan. A Participant may, at any time, view the Data held by the Company with respect to such Participant, request additional information about the storage and processing of the Data with respect to such Participant, recommend any necessary corrections to the Data with respect to the Participant or refuse or withdraw the consents herein in writing, in any case without cost, by contacting the Participant's local human resources representative. The Company may cancel the Participant's ability to participate in the Plan and, in the Committee's absolute discretion, the Participant may forfeit any outstanding Awards if the Participant refuses or withdraws such Participant's consents as described herein. For more information on the consequences of refusal to consent or withdrawal of consent, Participants may contact their local human resources representative.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Administrative Stand Still</u>. In the event of any pending stock dividend, stock split, combination or exchange of shares, merger, consolidation or other distribution (other than normal cash dividends) of Company assets to stockholders, or any other extraordinary transaction or change affecting the Shares or the price of Shares (including any equity restructuring or any securities offering or other similar transaction) or for reasons of administrative convenience or to facilitate compliance with any Applicable Law, the Committee may refuse to permit the exercise or settlement of one or more Awards for such period of time as the Committee may determine to be reasonably appropriate under the circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>Lock-Up Period</u>. The Company may, in connection with registering the offering of any Company securities under the Securities Act, prohibit Participants from, directly or indirectly, selling or otherwise transferring any Shares or other Company securities during a period of up to 180 days following the effective date of a Company registration statement filed under the Securities Act, or such longer period as determined by the underwriter. In order to enforce the foregoing, the Company shall have the right to place restrictive legends on the certificates of any securities of the Company held by the Participant and to impose stop transfer instructions with the Company's transfer agent with respect to any securities of the Company held by the Participant until the end of such period.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Withholding</u>. A Participant may be required to pay to the Company or any Affiliate, and the Company or any Affiliate shall have the right and is hereby authorized to withhold from any Award, from any payment due or transfer made under any Award or under the Plan or from any compensation or other amount owing to a Participant, the amount (in cash, Shares, other securities, other Awards or other property) of any applicable withholding taxes (including any income or other tax, mandatory charges or social security contributions in connection with an Award for which the Committee determines that the Participant is liable (or which may be recovered from the Participant) and for which the Company or its Affiliate (or former Affiliate) is obliged to account to any relevant tax or other governmental authority) in respect of an Award, its exercise or any payment or transfer under an Award or under the Plan and to take such other action as may be necessary in the opinion of the Committee or the Company to satisfy all obligations for the payment of such taxes, except to the extent such withholding would result in penalties under Section 409A of the Code. Without limiting the generality of the foregoing, subject to the Committee's prior approval, a Participant may satisfy, in whole or in part, such withholding liability by having the Company withhold from the number of Shares otherwise issuable pursuant to the Award, a number of Shares having a Fair Market Value equal to such withholding liability; <u>provided</u> that, in the event Shares are so withheld in connection with the vesting of an Award of Restricted Shares, such withheld Shares shall be immediately cancelled by the Company and shall not constitute treasury Shares. The amount withheld pursuant to any of the foregoing payment forms shall be determined by the Company and may be up to, but no greater than, the aggregate amount of such obligations based on the maximum statutory withholding rates in the applicable Participant's jurisdiction for all tax-related items that are applicable to such taxable income.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Section</u> <u>409A</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;(i) It is intended that the provisions of the Plan comply with Section 409A of the Code, and all provisions of the Plan shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A 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;&nbsp;&nbsp;&nbsp;&nbsp;(ii) No Participant or the creditors or beneficiaries of a Participant shall have the right to subject any deferred compensation (within the meaning of Section 409A of the Code) payable under the Plan to any anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment. Except as permitted under Section 409A of the Code, any deferred compensation (within the meaning of Section 409A of the Code) payable to any Participant or for the benefit of any Participant under the Plan may not be reduced by, or offset against, any amount owing by any such Participant to the Company or any of its Affiliates.

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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;(iii) If, at the time of a Participant's separation from service (within the meaning of Section 409A of the Code), (A) such Participant shall be a specified employee (within the meaning of Section 409A of the Code and using the identification methodology selected by the Company from time to time) and (B) the Company shall make a good faith determination that an amount payable pursuant to an Award constitutes deferred compensation (within the meaning of Section 409A of the Code) the payment of which is required to be delayed pursuant to the six-month delay rule set forth in Section 409A of the Code in order to avoid taxes or penalties under Section 409A of the Code, then the Company shall not pay such amount on the otherwise scheduled payment date but shall instead pay it on the first business day after such six-month period or, if earlier, such Participant's death. Such amount shall be paid without interest, unless otherwise determined by the Committee, in its sole discretion, or as otherwise provided in any applicable employment agreement between the Company and the relevant Participant. For purposes of Section 409A of the Code, any right to a series of installment payments under any Award shall be treated as a right to a series of separate 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;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Notwithstanding any provision of the Plan to the contrary, in light of the uncertainty with respect to the proper application of Section 409A of the Code, the Company reserves the right to make amendments to any Award as the Company deems necessary or desirable to avoid the imposition of taxes or penalties under Section 409A of the Code. In any case, a Participant shall be solely responsible and liable for the satisfaction of all taxes and penalties that may be imposed on such Participant or for such Participant's account in connection with an Award (including any taxes and penalties under Section 409A of the Code), and neither the Company nor any of its Affiliates shall have any obligation to indemnify or otherwise hold such Participant harmless from any or all of such taxes or penalties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Non-U.S. Holders</u>. Notwithstanding any provision of the Plan to the contrary, in order to comply with the laws in countries other than the U.S. in which the Company and its Subsidiaries operate or have Eligible Persons, or in order to comply with the requirements of any non-U.S. securities exchange or other Applicable Law, the Committee, in its sole discretion, shall have the power and authority to: (i) determine which Subsidiaries shall be covered by the Plan; (ii) determine which Eligible Persons outside the U.S. are eligible to participate in the Plan; (iii) modify the terms and conditions of any Award granted to Eligible Persons outside the U.S. to comply with Applicable Law (including applicable non-U.S. laws or listing requirements of any non-U.S. securities exchange); (iv) establish subplans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary or advisable; <u>provided</u>, <u>however</u>, that no such subplans and/or modifications shall increase the Share Limit or the Director Pay Limit; and (v) take any action, before or after an Award is made, that it deems advisable to obtain approval or comply with any necessary local governmental regulatory exemptions or approvals or listing requirements of any non-U.S. securities exchange.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Award Agreements</u>. Each Award hereunder shall be evidenced by an Award Agreement, which shall be delivered to the Participant and shall specify the terms and conditions of the Award and any rules applicable thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>No Limit on Other Compensation Arrangements</u>. Nothing contained in the Plan shall prevent the Company or any Affiliate from adopting or continuing in effect other compensation arrangements (including other equity-based awards and cash incentive awards), and such arrangements may be either generally applicable or applicable only in specific cases.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>No Right to Employment</u>. The grant of an Award shall not be construed as giving a Participant the right to be retained as a Director, officer, employee or consultant of or to the Company or any Affiliate, nor shall it be construed as giving a Participant any rights to continued service on the Board. Further, the Company or an Affiliate may at any time dismiss a Participant from employment or discontinue any directorship or consulting relationship, free from any liability or any claim under the Plan, unless otherwise expressly provided in the Plan or in any Award Agreement. The Plan and any Award Agreement shall not constitute or form part of any contract of employment or service between the Company or any Affiliate and a Participant. Unless otherwise expressly provided in any Award Agreement, the benefit to a Participant of participation in the Plan (including any Award granted to the Participant or any Shares issued, allotted or transferred to the Participant) shall not form any part of the Participant's compensation or count as the Participant's compensation for any purpose. The rights or opportunity granted to a Participant on the grant of an Award shall not give the Participant any employment rights or additional rights and if the Participant ceases to be retained as a Director, officer, employee or consultant of or to the Company or any Affiliate, the Participant shall not be entitled to compensation for the loss of any right or benefit or prospective right or benefit under the Plan (including any Award held by the Participant should it lapse by reason of the Participant ceasing to be retained as a Director, officer, employee or consultant of or to the Company or any Affiliate) whether by way of damages for unfair dismissal, wrongful dismissal, breach of contract or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>No Rights as Stockholder</u>. No Participant or holder or beneficiary of any Award shall have any rights as a stockholder with respect to any Shares to be distributed under the Plan until the Participant or holder or beneficiary, as applicable, has become the holder of such Shares. In connection with each grant of Restricted Shares, except as provided in the applicable Award Agreement, the Participant shall be entitled to the rights of a stockholder (including the right to vote) in respect of such Restricted Shares. Except as otherwise provided in Section 4(d) or the applicable Award Agreement, no adjustments shall be made for dividends or distributions on (whether ordinary or extraordinary, and whether in cash, Shares, other securities or other property), or other events relating to, Shares subject to an Award for which the record date is prior to the date such Shares are delivered.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <u>Governing Law</u>. The validity, construction and effect of the Plan and any rules and regulations relating to the Plan and any Award Agreement shall be determined in accordance with the laws of the State of Delaware, without giving effect to the conflict of laws provisions thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <u>Severability</u>. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the Applicable Laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be construed or deemed stricken as to such jurisdiction, Person or Award and the remainder of the Plan and any such Award shall remain 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;(q) <u>Other Laws; Restrictions on Transfer of Shares</u>. The Committee may refuse to grant Awards or issue or transfer any Shares or other consideration under an Award if it determines that the grant, issuance or transfer of such Award or Shares or such other consideration might violate any Applicable Law or entitle the Company to recover the same under Section 16(b) of the Exchange Act, and any payment tendered to the Company by a Participant, other holder or beneficiary in connection with the exercise of such Award shall be promptly refunded to the relevant Participant, holder or beneficiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) <u>No Trust or Fund Created</u>. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Affiliate, on one hand, and a Participant or any other Person, on the other. To the extent that any Person acquires a right to receive payments from the Company or any Affiliate pursuant to an Award, such right shall be no greater than the right of any unsecured general creditor of the Company or such Affiliate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) <u>No Fractional Shares</u>. No fractional Shares shall be issued or delivered pursuant to the Plan or any Award, no Participant shall have any rights or entitlements with respect to fractional Shares and no cash, other securities or other property shall be paid or transferred in lieu of any fractional Shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) <u>Headings and Construction</u>. Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof. Whenever the words "include", "includes" or "including" are used in the Plan, they shall be deemed to be followed by the words "but not limited to", and the word "or" shall not be deemed to be exclusive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) <u>Paperless Administration</u>. In the event that the Company establishes, for itself or using the services of a third party, an automated system for the documentation, granting or exercise of Awards, such as a system using an internet website or interactive voice response, then the paperless documentation, granting or exercise of Awards by a Participant may be permitted through the use of such an automated system.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <u>Effect of Plan upon Other Compensation Plans</u>. The adoption of the Plan shall not affect any other compensation or incentive plans in effect for the Company or any Subsidiary. Nothing in the Plan shall be construed to limit the right of the Company or any Subsidiary: (a) to establish any other forms of incentives or compensation for any Eligible Person, or (b) to grant or assume options or other rights or awards otherwise than under the Plan in connection with any proper corporate purpose including the grant or assumption of options in connection with the acquisition by purchase, lease, merger, consolidation or otherwise, of the business, stock or assets of any corporation, partnership, limited liability company, firm or association.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) <u>Compliance with Laws</u>. The Plan, the granting and vesting of Awards under the Plan and the issuance and delivery of Shares and the payment of money under the Plan or under Awards granted or awarded hereunder are subject to compliance with all Applicable Law and to such approvals by any listing, regulatory or governmental authority as may, in the opinion of counsel for the Company, be necessary or advisable in connection therewith. Any securities delivered under the Plan shall be subject to such restrictions, and the person acquiring such securities shall, if requested by the Company, provide such assurances and representations to the

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Company as the Company may deem necessary or desirable to assure compliance with all Applicable Law. The Committee, in its sole discretion, may take whatever actions it deems necessary or appropriate to effect compliance with Applicable Law, including placing legends on share certificates and issuing stop-transfer notices to agents and registrars. Notwithstanding anything to the contrary herein, the Committee may not take any actions hereunder, and no Awards shall be granted, that would violate Applicable Law. To the extent permitted by Applicable Law, the Plan and Awards granted or awarded hereunder shall be deemed amended to the extent necessary to conform to Applicable Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) <u>Relationship to Other Benefits</u>. No payment pursuant to the Plan shall be taken into account in determining any benefits under any pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Subsidiary except to the extent otherwise expressly provided in writing in such other plan or an agreement thereunder.

**SECTION 10**. **Amendment and Termination**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Amendments to the Plan</u>. Subject to any Applicable Law, the Plan may be amended, modified or terminated by the Board without the approval of the stockholders of the Company, except that stockholder approval shall be required for any amendment that would (i) increase the Plan Share Limit or the Plan ISO Limit (in either case, except for increases pursuant to an adjustment under Section 4(d)), (ii) expand the class of employees or other individuals eligible to participate in the Plan, (iii) extend the Expiration Date or (iv) result in any amendment, cancellation or action described in Section 7(c) being permitted without the approval of the Company's stockholders. No amendment, modification or termination of the Plan may, without the consent of the Participant to whom any Award shall previously have been granted, materially and adversely affect the rights of such Participant (or the Participant's transferee) under such Award, unless otherwise provided in the applicable Award Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Amendments to Awards</u>. The Committee may waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate any Award previously granted, prospectively or retroactively; <u>provided</u>, <u>however</u>, that, except as set forth in the Plan, unless otherwise provided in the applicable Award Agreement, any such waiver, amendment, alteration, suspension, discontinuance, cancelation or termination that would materially and adversely impair the rights of any Participant or any holder or beneficiary of any Award previously granted shall not to that extent be effective without the consent of the applicable Participant, holder or beneficiary.

**SECTION 11. Term of the Plan.** The Plan shall be effective as of the day prior to the Public Trading Date (the "<u>Effective Date</u>"). No Award shall be granted under the Plan during any period of suspension or after the tenth anniversary of the Effective Date (such anniversary, the "<u>Expiration Date</u>"). Unless otherwise expressly provided in the Plan or in an applicable Award Agreement, any Award granted hereunder, and the authority of the Board or the Committee to amend, alter, adjust, suspend, discontinue or terminate any such Award or to waive any conditions or rights under any such Award, shall nevertheless continue thereafter. Any awards that are outstanding under the Plan as of the Expiration Date shall continue to be subject to the terms and conditions of the Plan and an applicable Award Agreement.

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**APPENDIX A** 

**U.K. SUB-PLAN** 

**TO THE INDIVIOR PHARMACEUTICALS, INC. 2026 OMNIBUS EQUITY INCENTIVE PLAN** 

This sub-plan (the "<u>U.K. Sub-Plan</u>") to the Indivior Pharmaceuticals, Inc. 2026 Omnibus Equity Incentive Plan (the "<u>Plan</u>") has been adopted in accordance with Section 3(b) of the Plan. This U.K. Sub-Plan incorporates all the provisions of the Plan except as expressly modified in accordance with the provisions of this U.K. Sub-Plan.

In this U.K. Sub-Plan, the words and expressions used in the Plan shall bear, unless the context otherwise requires, the same meaning herein save to the extent the rules in this U.K. Sub-Plan provide to the contrary.

For the purposes of this U.K. Sub-Plan, the provisions of the Plan shall operate subject to the following modifications:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. <u>Eligibility.</u>** 

An individual who is a resident of the U.K. shall be eligible to receive Awards under the U.K. Sub-Plan only if they are a bona fide employee or a former employee of the Company or a Subsidiary, or a wife, husband, widow, widower, civil partner, surviving civil partner, or child or step-child under the age of eighteen of such employee or former employee.

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**APPENDIX B** 

**FRENCH SUB-PLAN** 

**TO THE INDIVIOR PHARMACEUTICALS, INC. 2026 OMNIBUS EQUITY INCENTIVE PLAN** 

**1. This Appendix governs the grant of RSUs to French Participants** 

This sub-plan (the "<u>French Sub-Plan</u>") to the Indivior Pharmaceuticals, Inc. 2026 Omnibus Equity Incentive Plan (the "<u>Plan</u>") has been adopted in order to allow RSUs granted to Participants based in France ("<u>French Participants</u>") to benefit from the tax incentive as implemented under articles L.225-197-1 to L.225-197-3, L.22-10-59 and L.22-10-60 of the French Commercial Code, articles 80 *quaterdecies* of the French Tax Code and articles L.137-13 and L.242-1 of the French Social Security Code.

For the avoidance of doubt, under the French Sub-Plan, the French Participants will be granted only RSUs. The provisions of the Plan relating to Options, SARs, Restricted Shares, Cash Incentive Awards and other equity-based awards (within the meaning of Section 6(e) of the Plan) are not applicable to grants made under this French Sub-Plan.

The current provisions of this French Sub-Plan include the regulations currently applicable in France. The Company may however have to amend the provisions of this French Such-Plan to take into account any new regulations that could arise in the future.

The provisions of this French Sub-Plan shall form an integral part of the Plan. The Plan and this French Sub-Plan are complimentary to each other and shall be deemed as one. In the event of any conflict, whether explicit or implied, between the provisions of this French Sub-Plan and the Plan, the provisions set out in the French Sub-Plan shall prevail.

It is anticipated that RSUs will be eligible for favorable tax and social security treatment in France. In the case where RSUs would not benefit from the favorable tax and social security treatment in France, the French Participants are informed that they may have to bear the cost of any additional income tax arising as a result of the RSUs and, if requested by their employer, to reimburse their employer for any employee share of social security contributions (and any assimilated charges such as, but not limited to, the *Contribution Sociale Généralisée*), but not the employer social security contributions.

The provisions of this French Sub-Plan may be subsequently amended, if RSUs appear not to be eligible for the favorable tax and social security treatment in France.

**2. Definitions** 

Capitalized terms below shall take the same definitions assigned to them under the Plan.

The following definitions are added/amended as follows for the purpose of the French Sub-Plan:

"<u>Award</u>" means a French-qualified Award of RSUs.

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"<u>Closed Period</u>" means, by reference to Article L.22-10-59 of the French Commercial Code,

(i) Thirty calendar days before the announcement of an interim financial report or a year-end report that the Company is required to make public preceding the disclosure to the public of the consolidated financial statements or the annual statements of the Company; or

(ii) At any time when the French Participant is in possession of Privileged Information.

If the French Commercial Code is amended after adoption of this French Sub-Plan to modify the definition and/or applicability of the Closed Periods to RSUs, such amendments shall become applicable to any RSUs granted to French Participants under this Sub-Plan, to the extent required or permitted under French law.

"<u>Date of Grant</u>" means the date upon which the Awards are granted to the French Participants.

"<u>Director</u>" means any *Président du Conseil d'Administration, Président* (as far as French *sociétés par action simplifiées* are concerned), *Directeur Général, Directeur Général Délégué* or *Membre du Directoire* of a Participating Company.

"<u>Disability</u>" means a French Participant's inability corresponding to the 2nd and 3rd category among the categories set forth in Article L.341-4 of the French Social Security Code.

"<u>Eligible Employee</u>" means any person who at a Date of Grant is in Employment with a Participating Company.

"<u>Employment</u>" means employment as an employee or Director of a Participating Company, though a Participating Company may decide on a case-by-case basis to include or exclude Directors from this French Sub-Plan**.**

"<u>French Participant</u>" means a participant in the Plan who is an Eligible Employee and who is a French tax resident and is subject to French social security regulation.

"<u>Participating Company</u>" means any French subsidiary of the Company within the meaning of section I of Article L.225-197-2° of the French Commercial Code; provided, for the avoidance of doubt, that a company shall be a French subsidiary only if the Company holds, directly or indirectly, at least 10 per cent. of its share capital or voting rights.

"<u>Privileged Information</u>" means privileged information within the meaning of Article 7 of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) which has not been made public.

"<u>Vesting Date</u>" means in relation to an Award the date specified at the Date of Grant and determined so that the vesting period shall be at least two years from the Date of Grant, save that if such date falls within a Closed Period, the Vesting Date will be the first dealing day following the end of that Closed Period.

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**3. Adoption of French Sub-Plan** 

The Plan and authority to adopt the French Sub-Plan was approved by the Company's shareholders and the Board, in each case in compliance with the law under which the Company is incorporated.

**4. Grant of Awards** 

The authorization granted under the shareholder approval to the Board or to the Committee to decide the issuance of Awards to French Participants is limited to a maximum of 76 months.

The Awards shall be granted for nil consideration.

The Date of Grant shall be the date on which the Board or the Committee both (i) designates the French Participants and (ii) specifies the terms and conditions of the Awards, including the number of Shares, the vesting conditions and the conditions of the transferability of the Shares.

If the Plan at any time permits Awards to be satisfied using newly issued Shares, no Award may be granted to French Participants if the number of Shares issued or capable of being issued pursuant to Awards granted under the Plan, when aggregated with the number of shares issued or capable of being issued pursuant to awards made or options granted under any other employees' share scheme, would exceed 15% of the ordinary issued share capital of the Company from time to time.

This 15% limit does not include:

(i) any Shares that have not been effectively awarded at the end of the vesting period; or

(ii) any Shares that are no longer subject to a vesting period.

**5. The individual limit** 

The following limits shall apply in respect of RSUs granted under the French Sub-Plan to French Participants:

(i) an Eligible Employee may not own more than 10% of the ordinary share capital of the Company at the date RSUs
are granted; and

(ii) an Eligible Employee may not own, as a result of the grant of RSUs, more than 10% of the ordinary share capital
of the Company.

Only shares in the Company that have been held directly by an Eligible Employee for less than seven years are included in these percentages.

**6. Minimum vesting period** 

Notwithstanding anything to the contrary stated herein, in the Plan or in the Award Agreement, save the case of death and Disability of an Eligible Employee, Awards will not vest nor be settled prior to the expiration of the minimum mandatory vesting period, calculated from the Date of Grant, applicable to Awards under Article L. 225-197-1 of the French Commercial Code.

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However, in the event of permanent Disability of the French Participant before the Vesting Date, the Shares underlying Award may, subject to the approval of the Board or the Committee, automatically vest and become definitively issued or delivered to the French Participant.

Notwithstanding any provision in the Plan, and notably Section 7(a), during the vesting period, the French Participant has no rights on the shares and, in particular, may not exercise voting rights and is not entitled to receive dividends, either cashed out or paid in shares, even if they are attributed at the end of the vesting period only.

Shares underlying Awards may not be sold by French Participants during a Closed Period.

**7. Non-Transferability of Awards** 

French RSUs may not be transferred or surrendered to any third party and Shares shall be issued only to the French Participant during his or her lifetime.

In case of death of a French Participant, the French Participant's heirs shall be entitled to require the delivery of the French Participant's RSUs within six (6) months as from the date of the French Participant's death, provided that the Company has received written confirmation that the personal representatives are legally authorized to deal with the deceased French Participant's affairs. The Shares so delivered shall be freely transferable.

If there is an exchange of Awards for other awards upon a merger or a demerger realized in accordance with the applicable legislation during the vesting period, the favorable tax and social regime would continue to apply provided that the French Participant retains the Shares received until the end of the vesting period. In any other cases of an exchange of Awards, the French Participant shall bear the cost of any additional income tax arising as a result of the exchange of Awards and, if requested by their employer, will reimburse their employer for any employee share of social security contributions (and any assimilated charges such as, but not limited to, the *Contribution Sociale Généralisée).*

**8. Settlement** 

Notwithstanding any provision in the Plan, and notably Section 6(d)(ii), settlement of the Awards may be paid out only in Shares to the French Participants.

**9. Existing Shares** 

If the exercise of Awards granted under this French Sub-Plan results in the purchase of existing Shares held by the Company (or any other Participating Company), such Shares should have been held, at the latest, one day before the end of the vesting period.

**10. Adjustments** 

Notwithstanding any provision in the Plan (including Section 4(d)) or an Award Agreement, the Board or the Committee may, at its sole discretion, make adjustments to the number of Awards, as well as the number of Shares to be delivered, upon the occurrence of certain transactions, in which case the Company shall take necessary measures in order to preserve French Participants' interests, as provided for in articles L.225-181, L.228-99, R.225-137 to R.225-142, and to R.228-91 of the French Commercial Code with respect to Awards.

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The transactions currently listed under Paragraph 2 of Article L.225-181 of the French Commercial Code are the following:

(iii) reduction or amortization of share capital;

(iv) modification of the allocation of profits;

(v) free distribution of shares such as Awards;

(vi) in respect of the share capital, incorporation of reserves, profits or issuance premiums; and

(vii) distribution of reserves or any issuance of share capital or securities giving a right to share capital with a
subscription right reserved for the shareholders.

**11. Disqualification of Awards** 

If Awards are modified, adjusted or administered in a manner in keeping with the terms of the Plan, or as mandated by agreement or as a matter of law, and the modification, adjustment or administration contravenes the terms and conditions of this French Sub-Plan, the Awards may no longer qualify as RSUs. If Awards no longer qualify as RSUs, the Board or the Committee may, provided it is authorized to do so under the Plan, determine to lift, shorten or terminate certain restrictions applicable to the vesting of the Awards or the sale of the Shares which may have been imposed under this French Sub-Plan or in the Award Agreement delivered to the French Participant.

In the event the Board or the Committee, at its discretion and in accordance with the Plan, authorizes immediate vesting of the Awards or waives restrictions that were imposed regarding sale or transfer of the underlying Shares subject to Awards, the Awards may no longer benefit from the French special tax and social security treatment. In the event that any Award no longer qualify as RSUs, the holder of such Award shall be ultimately liable and responsible for all taxes and/or social security contributions that he or she is legally required to pay in connection with such Award.

**12. Interpretation** 

The Awards granted under this French Sub-Plan are intended to qualify for the specific tax and social security treatment applicable to Awards granted under articles L.225-197-1 to L.225-197-5 and L.22-10-59 and L. 22-10-60 of the French Commercial Code, as amended, and in accordance with the relevant provisions set forth by French tax and social security laws and the corresponding French tax authorities' guidelines, but the Company does not undertake to maintain this status. The terms of this French Sub-Plan shall be interpreted accordingly and in accordance with the relevant provisions set forth by French tax and social security laws and relevant French tax authorities' guidelines and subject to the fulfilment of legal, tax, and reporting obligations, to the extent applicable. In the event of any conflict between the provisions of this French Sub-Plan and the Plan, the provisions of this French Sub-Plan shall prevail.

## Exhibit 10.6

**Exhibit 10.6.2** 

**INDIVIOR PHARMACEUTICALS, INC.** 

**2026 OMNIBUS EQUITY INCENTIVE PLAN** 

**RESTRICTED STOCK UNIT AWARD AGREEMENT (FOR NON-EMPLOYEE DIRECTORS)** 

**<u>GRANT NOTICE</u>**

Indivior Pharmaceuticals, Inc., a Delaware corporation (the "<u>Company</u>"), pursuant to its 2026 Omnibus Equity Incentive Plan (the "<u>Plan</u>"), hereby grants to the individual whose name is set forth below (the "<u>Participant</u>") the number of restricted stock units set forth below (the "<u>RSUs</u>") as of the date set forth below (the "<u>Grant Date</u>"). The RSUs are subject to the terms and conditions set forth in this Restricted Stock Unit Award Grant Notice (this "<u>Grant Notice</u>"), the Terms and Conditions of the Restricted Stock Unit Award attached hereto as <u>Exhibit A</u> (the "<u>Ts&Cs</u>") (together with this Grant Notice, the "<u>Agreement</u>"), and the Plan, each of which is incorporated herein by reference. Unless otherwise defined in the Agreement, capitalized terms used in the Agreement shall have the meanings ascribed to such terms in the Plan.

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| |
|:---|
| **Name of Participant:** |
| **Number of RSUs:** |
| **Grant Date:** |
| **Vesting Commencement Date:** |

---

**Vesting Schedule:** 

Except as otherwise set forth in the Agreement or in any individual service or similar agreement between the Participant and the Company or any of its Subsidiaries (each, a "<u>Company Group Member</u>" and collectively, the "<u>Company Group</u>"), the RSUs will vest in full on the earliest of (i) the day immediately preceding the date of the first annual meeting of the Company's stockholders following the Grant Date, (ii) the first anniversary of the Grant Date, and (iii) immediately prior to the occurrence of a Change in Control, subject to the Participant continuing to be employed by, or providing services to, a Company Group Member through such date (such date, the "<u>Vesting Date</u>").

**Acceptance:** 

The Participant acknowledges receipt of a copy of the Plan, the Company's most recent prospectus that describes the Plan and the Agreement. The Participant further acknowledges that the Participant has reviewed the Agreement, including this Grant Notice, the Ts&Cs and the Plan in their entirety, and fully understands all provisions of the Agreement and the Plan.

By the Participant's signature below or through any electronic acceptance procedure established by the Company, the Participant agrees to be bound by the terms and conditions of the Plan and the Agreement, including this Grant Notice and the Ts&Cs. The Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions arising under the Plan or the Agreement. By the Participant's signature below or

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through any acceptance procedure established by the Company, the Participant agrees, to the fullest extent permitted by Applicable Law, that in lieu of receiving documents in paper format, the Participant accepts the electronic delivery of any documents the Company, or any third party involved in administering the Plan, which the Company may designate in its absolute discretion, may deliver in connection with this grant (including the Plan, the Agreement, account statements, prospectuses, prospectus supplements, annual and quarterly reports and all other communications and information) whether via the Company's intranet or the internet site of another such third party or via email, or such other means of electronic delivery specified by the Company.

To accept this Award of RSUs, the Participant must consent and agree to the terms and conditions on which this Award is offered, as set forth in the Plan and the Agreement, **through DocuSign (or such other administration platform as required by the Company in its absolute discretion) no later than thirty (30) days following the date on which the Agreement is presented to the Participant**. If within such thirty (30)-day period the Participant does not accept this Award, the Participant will be deemed to have rejected this Award pursuant to the terms and conditions set forth in the Plan and the Agreement, including this Grant Notice and the Ts&Cs, and this Award will be cancelled automatically and without any further action on the part of the Company or the Participant immediately upon the expiration of such thirty (30)-day period, and without any additional consideration therefor.

**Acknowledged and Agreed:** 

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| |
|:---|
|  Signed: |
|  Print Name: |

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**EXHIBIT A** 

**TO RESTRICTED STOCK UNIT AWARD GRANT NOTICE** 

**TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT AWARD** 

Pursuant to the Grant Notice to which this Exhibit A is attached, and forms a part of, the Company has granted to the Participant the number of RSUs set forth in the Grant Notice.

**ARTICLE I.** 

**GENERAL** 

<u>Section</u> <u>1.1</u> <u>Incorporation of Terms of Plan</u>. The RSUs and any Shares that may be issued to the Participant hereunder are subject to the terms and conditions set forth in the Agreement and the Plan, which are incorporated herein by reference. In the event of any inconsistency between the Plan and the Agreement, the terms of the Plan shall control.

**ARTICLE II.** 

**AWARD OF RESTRICTED STOCK UNITS** 

<u>Section</u> <u>2.1</u> <u>Award of RSUs</u>(a) . In consideration of the Participant's past and/or continued employment with or service to the Company Group and for other good and valuable consideration, effective as of the Grant Date, the Company has granted to the Participant the number of RSUs set forth in the Grant Notice, upon the terms and conditions set forth in the Agreement and the Plan, subject to adjustment as provided in Section 4(d) of the Plan. Each RSU represents the right to receive one Share at the times and subject to the conditions set forth herein. However, unless and until the RSUs have vested, the Participant will have no right to the payment of any Shares subject thereto. Prior to the actual delivery of any Shares, the RSUs will represent an unsecured obligation of the Company, payable only from the general assets of the Company.

<u>Section</u> <u>2.2</u> <u>Regular Vesting of RSUs</u><u>; Termination of Services</u>. The RSUs shall vest in such amounts and at such times as are set forth in the Grant Notice; provided that, in the event the Participant's employment or service with the Company Group is terminated due to death or Disability prior to the Vesting Date, then such Participant's then unvested and outstanding RSUs shall immediately fully vest and accelerate upon such termination of employment or service. Unless specifically provided otherwise in the Agreement or any individual service or similar agreement between the Participant and the applicable Company Group Member, if the Participant's employment or service with the Company Group terminates for any reason prior to the Vesting Date, then all unvested RSUs shall be forfeited immediately upon such termination and the Participant shall not be entitled to receive any consideration with respect thereto. Employment or service for only a portion of a vesting period prior to a Vesting Date, even if a substantial portion, will not entitle the Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services except as specifically provided otherwise in the Agreement or in any individual employment or similar agreement between the Participant and the applicable Company Group Member. A transfer of the Participant's employment or service from one Company Group Member to another shall not be considered a termination of employment or service. The Participant's employment or service with the Company Group shall be deemed to terminate as of the date the Participant is no longer actively providing services to the Company Group (regardless of the reason for the termination and whether or not later found to be invalid or in breach of Applicable Law or the terms of any individual employment or similar agreement between the Participant and a Company Group

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Member). For purposes of this Agreement, "<u>Disability</u>" shall mean (i) the Participant is eligible for benefits under the applicable Company Group Member's long-term disability plan, (ii) the Participant is eligible for Social Security disability benefits, or (iii) the Participant is unable to engage in any substantial, gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months.

<u>Section</u> <u>2.3</u> <u>Settlement of RSUs</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The RSUs shall be settled by the delivery of Shares to the Participant or to a third party to hold the Shares for the Participant's benefit if directed by the Participant (either in registered form, book-entry form or as otherwise determined by the Committee) as soon as administratively practicable following the applicable Vesting Date, and, for any Participant that is a U.S. taxpayer, no later than March 15th of the calendar year following the year in which the RSUs are no longer subject to a substantial risk of forfeiture (for the avoidance of doubt, this deadline is intended to comply with the "short-term deferral" exemption from Section 409A of the Code). Notwithstanding the foregoing, the Company may delay the settlement of RSUs if it reasonably determines that such payment or distribution will violate Applicable Law, *provided* that such settlement shall be made at the earliest date at which the Company reasonably determines that the making of such distribution or payment will not cause such violation, as required by Treasury Regulation Section 1.409A-2(b)(7)(ii), and *provided further* that no settlement shall be delayed under this <u>Section</u> <u>2.3(a)</u> if such delay will result in adverse tax consequences under Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Settlement of vested RSUs shall be made by the Company in the form of whole Shares, rounded down to the nearest whole Share, with no cash or other consideration provided in lieu of any fractional Shares. The Participant shall have no rights or entitlements with respect to any fractional Shares.

<u>Section</u> <u>2.4</u> <u>Conditions to Issuance of Certificates</u>. The Company shall not be required to issue or deliver any Shares or to cause any Shares to be issued or delivered in registered, book-entry or any other form prior to the fulfillment of all of the following conditions: (a) the admission of the Shares to listing and trading on all stock exchanges on which such Shares are then listed, (b) the completion of any registration or other qualification of the Shares under any Applicable Law or under rulings or regulations of the SEC, the United Kingdom Financial Conduct Authority or other governmental regulatory body, which the Committee, in its absolute discretion, determines to be necessary or advisable, (c) the obtaining of any approval or other clearance from any state, federal or national governmental agency that the Committee, in its absolute discretion, determine to be necessary or advisable, (d) the receipt by the Company of full payment for such Shares in accordance with Applicable Law, which may be in one or more of the forms of consideration approved by the Committee from time to time, that the Committee, in its absolute discretion, determines to be necessary or advisable, and (e) the receipt of full payment of any applicable withholding tax in accordance with <u>Section</u> <u>2.5</u> hereof by the Company Group Member with respect to which the applicable withholding obligation arises. Notwithstanding the foregoing, the issuance or transfer of the Shares underlying this Award shall not be accelerated or delayed if such acceleration or delay would result in adverse tax consequences under Section 409A of the Code. Delays may be permitted only to the extent permitted by Section 409A of the Code.

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<u>Section</u> <u>2.5</u> <u>Tax Withholding</u>. Notwithstanding any other provision of the Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall have the right and is hereby authorized to withhold, any applicable withholding taxes in respect of the Participant's RSUs, their grant or vesting or any payment or transfer with respect to the Participant's RSUs up to the maximum applicable statutory rates, and to take such action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes. To satisfy Participant's maximum income, employment and/or other applicable taxes that are statutorily required to be withheld, the Company shall withhold from the Shares otherwise issuable or deliverable to, or that would otherwise be retained by, the Participant a number of Shares with an aggregate Fair Market Value equal to an amount not in excess of such maximum statutorily required withholding liability (or portion thereof).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Participant is ultimately liable and responsible for, and, to the extent permitted by Applicable Law, agrees to indemnify and keep indemnified the Company Group from, all taxes owed by the Participant in connection with this Award, regardless of any action taken by any Company Group Member with respect to any tax withholding obligations that arise in connection with this Award. No Company Group Member makes any representation or undertaking regarding the treatment of any tax withholding in connection with the awarding, vesting or settlement of this Award or the subsequent sale of Shares. The Company Group does not commit and is under no obligation to structure this Award to reduce or eliminate the Participant's tax liability.

<u>Section</u> <u>2.6</u> <u>Rights as Stockholder</u>. Neither the Participant nor any Person claiming under or through the Participant will have any of the rights or privileges of a stockholder of the Company in respect of any Shares issuable or deliverable hereunder unless and until such Shares (which may be in registered, book-entry or such other form as the Committee may approve) will have been issued in accordance with this <u>Section</u> <u>2.6</u>, and recorded in the register of members and such other books and records of the Company or its transfer agents or registrars as may be required and delivered to the Participant or to a third party if the Participant directs that the Shares be delivered to such third party to hold for the benefit of the Participant (including through electronic delivery to a brokerage account). Except as otherwise provided herein, after such issuance, recordation and delivery, the Participant will have all the rights of a stockholder of the Company with respect to such Shares, including, without limitation, the right to vote such Shares and the right to receive dividends and distributions on such Shares.

**ARTICLE III.** 

**OTHER PROVISIONS** 

<u>Section</u> <u>3.1</u> <u>Administration</u>. The Committee shall have the power to interpret the Plan and the Agreement and to adopt such rules for the administration, interpretation and application of the Plan and the Agreement as are consistent therewith and to interpret, amend or revoke any such rules. All actions taken and all interpretations and determinations made by the Committee will be final and binding upon the Participant, the Company and all other interested Persons. To the extent allowable pursuant to Applicable Law, no member of the Committee or the Board will be personally liable for any action, determination or interpretation made with respect to the Plan or the Agreement.

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<u>Section</u> <u>3.2</u> <u>RSUs Not Transferable</u>. The RSUs may not be sold, pledged, attached, assigned, alienated, or otherwise transferred in any manner other than by will or the laws of descent and distribution, unless and until the Shares underlying the RSUs have been issued, and all restrictions applicable to such Shares have lapsed. No RSUs or any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Participant or the Participant's successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence.

<u>Section</u> <u>3.3</u> <u>Adjustments</u>. The Committee may accelerate the vesting or settlement of all or a portion of the RSUs in such circumstances as it, in its absolute discretion, may determine. The Participant acknowledges that the RSUs and the Shares subject to the RSUs are subject to adjustment, modification and termination in certain events as provided in the Agreement and the Plan, including Section 4(d) of the Plan.

<u>Section</u> <u>3.4</u> <u>Malus and</u> <u>Clawback</u>. The Participant acknowledges that the RSUs and the Shares acquired upon settlement of the RSUs shall be subject (including on a retroactive basis) to malus, clawback, recoupment, forfeiture or similar requirements (and such requirements shall be deemed incorporated by reference into the Agreement) to the extent required by the Clawback Policy, the terms of any other malus and clawback policies of the Company Group or Applicable Law (including, without limitation, Section 304 of the Sarbanes-Oxley Act and Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act) or as a result of any failure to comply with the Company's policy on confidential information and proprietary business information, or any non-competition, non-solicitation, no-hire or other restrictive covenants in the Participant's employment agreement with the Company or any other agreement between the Participant and the Company, in each case as may be in effect from time to time.

<u>Section</u> <u>3.5</u> <u>No Advice Regarding Grant</u>. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Participant's participation in the Plan, or the Participant's acquisition or sale of the Shares underlying the RSUs. The Participant should consult with the Participant's personal tax, legal and financial advisors regarding participation in the Plan before taking any action related to the Plan.

<u>Section</u> <u>3.6</u> <u>Insider Trading/Market Abuse Laws</u>. The Participant acknowledges that the Participant may be subject to insider trading restrictions and/or market abuse laws in the United States, the United Kingdom and other jurisdictions, which may affect the Participant's ability to acquire or sell Shares or rights to Shares (e.g., RSUs) under the Plan during such time as the Participant is considered to have "inside information" or "material non-public information" regarding the Company (as defined under Applicable Law). Local insider trading laws and regulations may prohibit the cancellation or amendment of orders the Participant placed before the Participant possessed inside information or material non-public information and may also prohibit the Participant from placing (or recommending that others place) orders while in possession of inside information or material non-public information. Furthermore, the Participant could be prohibited from (i) disclosing any inside information or material non-public information to any third party and (ii) "tipping" third parties or causing them otherwise to buy or sell securities. The

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Participant should keep in mind that third parties include employees. Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under applicable policies or procedures maintained by the Company and its Subsidiaries from time to time. The Participant is responsible for ensuring compliance with any applicable restrictions and should consult with the Participant's personal legal advisor on this matter.

<u>Section</u> <u>3.7</u> <u>Notices</u>. Any notice to be given under the terms of the Agreement to the Company shall be sent to the Company Secretary by email to Cosec@Indivior.com with a copy sent by email to TotalRewards@Indivior.com, and any notice to be given to the Participant shall be addressed to the Participant at the Participant's last address reflected on the Company's records. By a notice given pursuant to this <u>Section</u> <u>3.7</u>, either party may hereafter designate a different address for notices to be given to that party. Any notice shall be deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service or similar non-U.S. entity.

<u>Section</u> <u>3.8</u> <u>Headings</u>. Headings are provided herein for convenience only and are not to serve as a basis for interpretation or construction of the Agreement.

<u>Section</u> <u>3.9</u> <u>Governing Law</u>. The laws of the State of Delaware shall govern the interpretation, validity, administration, enforcement and performance of the terms of the Agreement, without giving effect to the conflict of laws provisions thereof. The courts of the State of Delaware will have exclusive jurisdiction to determine any dispute in relation to the application of the Plan. By accepting the Agreement, the Participant is deemed to have agreed to submit to such jurisdiction.

<u>Section</u> <u>3.10</u> <u>Conformity to Securities Laws</u>. The Participant acknowledges that the Plan and the Agreement are intended to conform to the extent necessary with all Applicable Laws, including, without limitation, the provisions of the Securities Act the Exchange Act, and any and all regulations and rules promulgated thereunder by the SEC, and state securities laws and regulations. Notwithstanding any other provision of the Plan or the Agreement, the Plan shall be administered, and the RSUs are granted, only in such a manner as to conform to Applicable Law and shall be deemed amended to the extent necessary to conform to Applicable Law.

<u>Section</u> <u>3.11</u> <u>Amendment, Suspension and Termination</u>. To the extent permitted by the Plan, the Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Committee or the Board*, provided* that, except as may otherwise be provided by the Plan, no amendment, modification, suspension or termination of the Agreement shall materially and adversely impair the rights of the Participant without the prior written consent of the Participant.

<u>Section</u> <u>3.12</u> <u>Imposition of Other Requirement</u>. The Company reserves the right to impose other requirements on the Participant's participation in the Plan, on the RSUs and on any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require the Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

<u>Section</u> <u>3.13</u> <u>No Waiver</u>. Any right of the Company Group contained in the Agreement may be waived in writing by the Committee. No waiver of any right hereunder by any party shall operate as a waiver of any other right, or as a waiver of the same right with respect to any subsequent occasion for its exercise, or as a waiver of any right to damages. No waiver by any party of any breach of the Agreement shall be held to constitute a waiver of any other breach or a waiver of the continuation of the same breach.

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<u>Section</u> <u>3.14</u> <u>Successors and Assigns</u>. The Company may assign any of its rights under the Agreement to single or multiple assignees, and the Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth in <u>Section</u> <u>3.2</u> hereof and the Plan, the Agreement shall be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.

<u>Section</u> <u>3.15</u> <u>Limitations Applicable to Section</u> <u>16</u> <u>Persons</u>. Notwithstanding any other provision of the Plan or the Agreement, if the Participant is subject to Section 16 of the Exchange Act, the Plan, the RSUs and the Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by Applicable Law, the Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

<u>Section</u> <u>3.16</u> <u>Not a Contract of Employment</u>. Nothing in the Agreement or the Plan shall confer upon the Participant any right to serve as an employee or other service provider of any Company Group Member or shall interfere with or restrict in any way the rights of any Company Group Member, which rights are hereby expressly reserved, to discharge or terminate the employment or other services of the Participant at any time for any reason whatsoever, with or without cause, except to the extent (a) expressly provided otherwise in a written agreement between a Company Group Member and the Participant or (b) where such provisions are not consistent with Applicable Law, in which case such Applicable Law shall control. The Plan and Agreement shall not constitute or form part of any contract of employment or other service agreement between any Company Group Member and the Participant.

<u>Section</u> <u>3.17</u> <u>Entire Agreement</u>. The Plan and the Agreement (including any exhibit hereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and the Participant with respect to the subject matter hereof. The Participant expressly warrants that the Participant is not accepting the Agreement in reliance on any promises, representations, or inducements other than those contained herein.

<u>Section</u> <u>3.18</u> <u>Section 409A</u>. For Participants that are U.S. taxpayers, this Award is not intended to constitute "nonqualified deferred compensation" within the meaning of Section 409A of the Code. However, notwithstanding any other provision of the Plan or the Agreement, if at any time the Committee determines that this Award (or any portion thereof) may be subject to Section 409A of the Code, the Committee shall have the right in its sole discretion (without any obligation to do so or to indemnify the Participant or any other Person for failure to do so) to adopt such amendments to the Plan or the Agreement, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Committee determines are necessary or appropriate for this Award either to be exempt from the application of Section 409A of the Code or to comply with the requirements of Section 409A of the Code. Any ambiguities herein will be interpreted such that all payments and benefits to U.S. taxpayers will be exempt from, or comply with, the requirements of Section 409A of the Code so that none of the RSUs provided under the Agreement will be subject to the additional tax imposed under Section 409A of the Code. Each payment payable under the Agreement is intended to constitute a separate payment for purposes of Treasury Regulation 1.409A-2(b)(2).

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<u>Section</u> <u>3.19</u> <u>Agreement Severable</u>. In the event that any provision of the Agreement is held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of the Agreement.

<u>Section</u> <u>3.20</u> <u>Limitation on the Participant</u><u>'</u><u>s Rights</u>. Participation in the Plan confers no rights or interests upon the Participant other than as herein provided. The Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. The Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the RSUs.

<u>Section</u> <u>3.21</u> <u>Counterparts</u>. The Grant Notice may be executed in one or more counterparts, including by way of any electronic signature, subject to Applicable Law, each of which shall be deemed an original and all of which together shall constitute one instrument.

<u>Section</u> <u>3.22</u> <u>Data Privacy</u>. As a condition of receipt of the Award, and without prejudice to the Participant's acknowledgement of the Company's legitimate interests in processing the Participant's personal data, the Participant explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of personal data as described in this <u>Section</u> <u>3.22</u> by and among, as applicable, the Company and its Subsidiaries for the exclusive purpose of implementing, administering and managing the Participant's participation in the Plan. The Company and its Subsidiaries may hold certain personal information about the Participant, including but not limited to, the Participant's name, home address and telephone number, date of birth, social security or insurance number or other identification number, salary, nationality, job title(s), any shares held in the Company or any of its Subsidiaries, details of all Awards, in each case, for the purpose of implementing, managing and administering the Plan and Awards (the "<u>Data</u>"). The Company and its Subsidiaries may transfer the Data amongst themselves as necessary for the purpose of implementation, administration and management of the Participant's participation in the Plan, and the Company and its Subsidiaries may each further transfer the Data to any third parties assisting the Company and its Subsidiaries in the implementation, administration and management of the Plan. These recipients may be located in the Participant's country, or elsewhere, and the Participant's country may have different data privacy laws and protections than the recipients' country. Through acceptance of the Award, the Participant authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Participant's participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom the Company or any of its Subsidiaries or the Participant may elect to deposit any Shares. The Data related to the Participant will be held only as long as is necessary to implement, administer, and manage the Participant's participation in the Plan. The Participant may, at any time, view the Data held by the Company with respect to the Participant, request additional information about the storage and processing of the Data with respect to the Participant, recommend any necessary corrections to the Data with respect to the Participant or refuse or withdraw the consents herein in writing, in any case without cost, by contacting the Participant's local human resources representative. The Company may cancel the Participant's ability to participate in the Plan and, in the Committee's absolute discretion, the Participant may forfeit any outstanding Awards if the Participant refuses or withdraws such Participant's consents as described herein. For more information on the consequences of refusal to consent or withdrawal of consent, the Participant may contact their local human resources representative.

\* \* \* \*

## Exhibit 10.6

**Exhibit 10.6.3** 

**INDIVIOR PHARMACEUTICALS, INC.** 

**2026 OMNIBUS EQUITY INCENTIVE PLAN** 

**RESTRICTED STOCK UNIT AWARD AGREEMENT** 

**<u>GRANT NOTICE</u>**

Indivior Pharmaceuticals, Inc., a Delaware corporation (the "<u>Company</u>"), pursuant to its 2026 Omnibus Equity Incentive Plan (the "<u>Plan</u>"), hereby grants to the individual whose name is set forth below (the "<u>Participant</u>") the number of restricted stock units set forth below (the "<u>RSUs</u>") as of the date set forth below (the "<u>Grant Date</u>"). The RSUs are subject to the terms and conditions set forth in this Restricted Stock Unit Award Grant Notice (this "<u>Grant Notice</u>"), the Terms and Conditions of the Restricted Stock Unit Award attached hereto as <u>Exhibit A</u> and the <u>Appendix</u> (the "<u>Ts&Cs</u>") (together with this Grant Notice, the "<u>Agreement</u>"), and the Plan, each of which is incorporated herein by reference. Unless otherwise defined in the Agreement, capitalized terms used in the Agreement shall have the meanings ascribed to such terms in the Plan.

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| |
|:---|
| **Name of Participant:** |
| **Number of RSUs:** |
| **Grant Date:** |
| **Vesting Commencement Date:** |

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**Vesting Schedule:** Except as otherwise set forth in the Agreement or in any individual employment or similar agreement between the Participant and the Company or any of its Subsidiaries (each, a "<u>Company Group Member</u>" and collectively, the "<u>Company Group</u>"), the RSUs will vest in accordance with the following vesting schedule, in each case, subject to the Participant continuing to be employed by, or providing services to, a Company Group Member through such date (each date on which a portion of the RSUs vests, a "<u>Vesting Date</u>" and the "<u>Final Vesting Date</u>", as applicable).

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| | | |
|:---|:---|:---|
| **Vesting Date [1]** | **Vesting Date [2]** | **Vesting Date [3]** |
| [•] RSUs on [•] | [•] RSUs on [•] | [•] RSU on [•] |

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**Acceptance:** 

The Participant acknowledges receipt of a copy of the Plan, the Company's most recent prospectus that describes the Plan and the Agreement. The Participant further acknowledges that the Participant has reviewed the Agreement, including this Grant Notice, the Ts&Cs and the Plan in their entirety, and fully understands all provisions of the Agreement and the Plan.

By the Participant's signature below or through any electronic acceptance procedure established by the Company, the Participant agrees to be bound by the terms and conditions of the Plan and the Agreement, including this Grant Notice and the Ts&Cs. The Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions arising under the Plan or the Agreement. By the Participant's signature below or

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through any acceptance procedure established by the Company, the Participant agrees, to the fullest extent permitted by Applicable Law, that in lieu of receiving documents in paper format, the Participant accepts the electronic delivery of any documents the Company, or any third party involved in administering the Plan, which the Company may designate in its absolute discretion, may deliver in connection with this grant (including the Plan, the Agreement, account statements, prospectuses, prospectus supplements, annual and quarterly reports and all other communications and information) whether via the Company's intranet or the internet site of another such third party or via email, or such other means of electronic delivery specified by the Company.

To accept this Award of RSUs, the Participant must consent and agree to the terms and conditions on which this Award is offered, as set forth in the Plan and the Agreement, **through DocuSign (or such other administration platform as required by the Company in its absolute discretion) no later than thirty (30) days following the date on which the Agreement is presented to the Participant**. If within such thirty (30)-day period the Participant does not accept this Award, the Participant will be deemed to have rejected this Award pursuant to the terms and conditions set forth in the Plan and the Agreement, including this Grant Notice and the Ts&Cs, and this Award will be cancelled automatically and without any further action on the part of the Company or the Participant immediately upon the expiration of such thirty (30)-day period, and without any additional consideration therefor.

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| |
|:---|
| **Acknowledged and Agreed:** |
|  Signed: |
|  Print Name: |

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**EXHIBIT A** 

**TO RESTRICTED STOCK UNIT AWARD GRANT NOTICE** 

**TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT AWARD** 

Pursuant to the Grant Notice to which this <u>Exhibit A</u> is attached, and forms a part of, the Company has granted to the Participant the number of RSUs set forth in the Grant Notice.

**ARTICLE I.** 

**GENERAL** 

<u>Section</u> <u>1.1</u> <u>Incorporation of Terms of Plan</u>. The RSUs and any Shares that may be issued to the Participant hereunder are subject to the terms and conditions set forth in the Agreement and the Plan, which are incorporated herein by reference. In the event of any inconsistency between the Plan and the Agreement, the terms of the Plan shall control.

<u>Section</u> <u>1.2</u> <u>Defined Terms</u>. For purposes of the Agreement, the following terms shall have the following meanings:

"<u>Cause</u>" shall mean, unless otherwise set forth in an individual employment or similar agreement between the Participant and the applicable Company Group Member, a reasonable and good faith determination by the Company Group that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Participant has failed to substantially perform the Participant's duties and obligations to the Company Group to the satisfaction of the Company Group (other than failure resulting from the Participant's incapacity because of Disability), including one or more acts of gross negligence or insubordination or a material breach of the Company Group's policies and procedures (other than such policies set forth in clause (b) below), which failure is not cured, if capable of being cured, within fifteen (15) days after a written demand for cure is received by the Participant from the Company Group which specifically identifies the manner in which the Company Group believes the Participant has failed to substantially perform the Participant's duties and obligations to the Company Group to the Company Group's satisfaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Participant has materially breached the Company Group's Code of Conduct, Equal Opportunity and Anti-Harassment policies, or compliance policies (including the Code of Business Conduct, the Anti-Bribery Policy, the Competition Law Compliance Manual and the Global Policy on Healthcare Business Ethics);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Participant has been indicted for, convicted of, or entered a plea of guilty or nolo contendere to, a felony or any other crime involving fraud, dishonesty, theft, breach of trust or moral turpitude;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Participant has willfully engaged in conduct which results in, or could reasonably be expected to result in, material injury to the Company Group's financial condition, reputation, or ability to do business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Participant has materially breached any written agreement with the Company Group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the Participant has violated state or federal securities laws or regulations; 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;(g) the Participant has willfully failed to cooperate with a bona fide internal investigation or an investigation by regulatory or law enforcement authorities, after being instructed by the Company Group to cooperate, willfully destroyed or failed to preserve documents or other materials relevant to such investigation, or willfully induced others to fail to cooperate or to produce documents or other materials in connection with such investigation.

"<u>Disability</u>" shall mean (i) the Participant is eligible for benefits under the applicable Company Group Member's long-term disability plan, (ii) the Participant is eligible for Social Security disability benefits, or (iii) the Participant is unable to engage in any substantial, gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months.

**ARTICLE II.** 

**AWARD OF RESTRICTED STOCK UNITS** 

<u>Section</u> <u>2.1</u> <u>Award of RSUs</u>. In consideration of the Participant's past and/or continued employment with or service to the Company Group and for other good and valuable consideration, effective as of the Grant Date, the Company has granted to the Participant the number of RSUs set forth in the Grant Notice, upon the terms and conditions set forth in the Agreement and the Plan, subject to adjustment as provided in Section 4(d) of the Plan. Each RSU represents the right to receive one Share at the times and subject to the conditions set forth herein. However, unless and until the RSUs have vested, the Participant will have no right to the payment of any Shares subject thereto. Prior to the actual delivery of any Shares, the RSUs will represent an unsecured obligation of the Company, payable only from the general assets of the Company.

<u>Section</u> <u>2.2</u> <u>Regular Vesting of RSUs</u>. The RSUs shall vest in such amounts and at such times as are set forth in the Grant Notice, subject to <u>Sections 2.3</u> and <u>2.4</u>.

<u>Section</u> <u>2.3</u> <u>Change in Control</u>. Unless the Committee determines otherwise, in the event a Change in Control occurs prior to the Final Vesting Date and the RSUs are not assumed or substituted by the surviving entity or successor corporation (or an Affiliate thereof) in connection with such Change in Control, then the Participant's unvested RSUs shall, to the extent not assumed or substituted, fully vest immediately prior to, but subject to the occurrence of, such Change in Control.

<u>Section</u> <u>2.4</u> <u>Termination of Employment or Service</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the event the Participant's employment or service with the Company Group is terminated prior to the Final Vesting Date, except as otherwise provided in <u>Section</u> <u>2.4(b)</u> or <u>(c)</u>, or as set forth in an individual employment or similar agreement between the Participant and the applicable Company Group Member, or as otherwise determined by the Committee in its absolute discretion, then all unvested RSUs shall be forfeited immediately upon such termination and the Participant shall not be entitled to receive any consideration with respect thereto. Employment or service for only a portion of a vesting period prior to a Vesting Date, even if a substantial portion, will not entitle the Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services except as specifically provided otherwise in the Agreement or in any individual employment or similar agreement between the Participant and the applicable Company Group Member. A transfer

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of the Participant's employment or service from one Company Group Member to another shall not be considered a termination of employment or service. The Participant's employment or service with the Company Group shall be deemed to terminate as of the date the Participant is no longer actively providing services to the Company Group (regardless of the reason for the termination and whether or not later found to be invalid or in breach of Applicable Law or the terms of any individual employment or similar agreement between the Participant and a Company Group Member).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event the Participant's employment or service with the Company Group is terminated prior to the Final Vesting Date by the Company Group without Cause, then, subject to the execution and non-revocation of a customary release of claims by the Participant in favor of the Company Group within sixty (60) days following the date of such termination, the Participant shall immediately vest in a pro-rated portion of the RSUs and the balance of RSUs (i.e., any RSUs that remain unvested after taking into account the vesting of such pro-rated portion) shall be immediately forfeited upon such termination and the Participant shall not be entitled to receive any consideration with respect thereto. For this purpose, the pro-rated portion shall be calculated by (i) multiplying (x) the total number of RSUs awarded under the Agreement by (y) a fraction, the numerator of which shall be the number of days in the period commencing on the Vesting Commencement Date and concluding on the date of termination of the Participant's employment or service, and the denominator of which shall be the number of days in the period commencing on the Vesting Commencement Date and concluding on the originally scheduled Final Vesting Date (as set forth on the first page of the Grant Notice) (the resulting amount, the "<u>Aggregate Pro-Rated RSUs</u>"), (ii) subtracting from the Aggregate Pro-Rated RSUs the number of RSUs subject to the Award that have already vested as of the date of termination of the Participant's employment or service, and (iii) rounding the number from the foregoing calculation to the nearest whole number.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event the Participant's employment or service with the Company Group is terminated due to death or Disability prior to the Final Vesting Date, then in each case, subject to the execution and non-revocation of a customary release of claims by the Participant (or the estate of the Participant if applicable) in favor of the Company Group within sixty (60) days following the date of such termination, the Participant's then-unvested RSUs shall immediately vest in full upon such termination of employment or service.

<u>Section</u> <u>2.5</u> <u>Settlement of RSUs</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The RSUs shall be settled by the delivery of Shares to the Participant or to a third party to hold the Shares for the Participant's benefit if directed by the Participant (either in registered form, book-entry form or as otherwise determined by the Committee) as soon as administratively practicable following the applicable Vesting Date (or any earlier vesting upon termination of employment or service or a Change in Control as described in <u>Section</u> <u>2.3</u> or <u>Section</u> <u>2.4</u>), and, for any Participant that is a U.S. taxpayer, no later than March 15th of the calendar year following the year in which the RSUs are no longer subject to a substantial risk of forfeiture (for the avoidance of doubt, this deadline is intended to comply with the "short-term deferral" exemption from Section 409A of the Code). Notwithstanding the foregoing, the Company may delay the settlement of RSUs if it reasonably determines that such payment or distribution will violate Applicable Law, *provided* that such settlement shall be made at the earliest date at which the Company reasonably determines that the making of such distribution or payment will not cause such violation, as required by Treasury Regulation Section 1.409A-2(b)(7)(ii), and *provided further* that no settlement shall be delayed under this <u>Section</u> <u>2.5(a)</u> if such delay will result in adverse tax consequences under Section 409A of the Code.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Settlement of vested RSUs shall be made by the Company in the form of whole Shares, rounded down to the nearest whole Share, with no cash or other consideration provided in lieu of any fractional Shares. The Participant shall have no rights or entitlements with respect to any fractional Shares.

<u>Section</u> <u>2.6</u> <u>Conditions to Issuance of Certificates</u>. The Company shall not be required to issue or deliver any Shares or to cause any Shares to be issued or delivered in registered, book-entry or any other form prior to the fulfillment of all of the following conditions: (a) the admission of the Shares to listing and trading on all stock exchanges on which such Shares are then listed, (b) the completion of any registration or other qualification of the Shares under any Applicable Law or under rulings or regulations of the SEC, the United Kingdom Financial Conduct Authority or other governmental regulatory body, which the Committee, in its absolute discretion, determines to be necessary or advisable, (c) the obtaining of any approval or other clearance from any state, federal or national governmental agency that the Committee, in its absolute discretion, determine to be necessary or advisable, (d) the receipt by the Company of full payment for such Shares in accordance with Applicable Law, which may be in one or more of the forms of consideration approved by the Committee from time to time, that the Committee, in its absolute discretion, determines to be necessary or advisable, and (e) the receipt of full payment of any applicable withholding tax in accordance with <u>Section</u> <u>2.7</u> hereof by the Company Group Member with respect to which the applicable withholding obligation arises. Notwithstanding the foregoing, the issuance or transfer of the Shares underlying this Award shall not be accelerated or delayed if such acceleration or delay would result in adverse tax consequences under Section 409A of the Code. Delays may be permitted only to the extent permitted by Section 409A of the Code.

<u>Section</u> <u>2.7</u> <u>Tax Withholding</u>. Notwithstanding any other provision of the Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall have the right and is hereby authorized to withhold, any applicable withholding taxes in respect of the Participant's RSUs, their grant or vesting or any payment or transfer with respect to the Participant's RSUs up to the maximum applicable statutory rates, and to take such action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes. To satisfy Participant's maximum income, employment and/or other applicable taxes that are statutorily required to be withheld, the Company shall withhold from the Shares otherwise issuable or deliverable to, or that would otherwise be retained by, the Participant a number of Shares with an aggregate Fair Market Value equal to an amount not in excess of such maximum statutorily required withholding liability (or portion thereof).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Participant is ultimately liable and responsible for, and, to the extent permitted by Applicable Law, agrees to indemnify and keep indemnified the Company Group from, all taxes owed by the Participant in connection with this Award, regardless of any action taken by any Company Group Member with respect to any tax withholding obligations that arise in connection with this Award. No Company Group Member makes any representation or undertaking regarding the treatment of any tax withholding in connection with the awarding, vesting or settlement of this Award or the subsequent sale of Shares. The Company Group does not commit and is under no obligation to structure this Award to reduce or eliminate the Participant's tax liability.

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<u>Section</u> <u>2.8</u> <u>Rights as Stockholder</u>. Neither the Participant nor any Person claiming under or through the Participant will have any of the rights or privileges of a stockholder of the Company in respect of any Shares issuable or deliverable hereunder unless and until such Shares (which may be in registered, book-entry or such other form as the Committee may approve) will have been issued in accordance with this <u>Section</u> <u>2.8</u>, and recorded in the register of members and such other books and records of the Company or its transfer agents or registrars as may be required and delivered to the Participant or to a third party if the Participant directs that the Shares be delivered to such third party to hold for the benefit of the Participant (including through electronic delivery to a brokerage account). Except as otherwise provided herein, after such issuance, recordation and delivery, the Participant will have all the rights of a stockholder of the Company with respect to such Shares, including, without limitation, the right to vote such Shares and the right to receive dividends and distributions on such Shares.

**ARTICLE III.** 

**OTHER PROVISIONS** 

<u>Section</u> <u>3.1</u> <u>Administration</u>. The Committee shall have the power to interpret the Plan and the Agreement and to adopt such rules for the administration, interpretation and application of the Plan and the Agreement as are consistent therewith and to interpret, amend or revoke any such rules. All actions taken and all interpretations and determinations made by the Committee will be final and binding upon the Participant, the Company and all other interested Persons. To the extent allowable pursuant to Applicable Law, no member of the Committee or the Board will be personally liable for any action, determination or interpretation made with respect to the Plan or the Agreement.

<u>Section</u> <u>3.2</u> <u>RSUs Not Transferable</u>. The RSUs may not be sold, pledged, attached, assigned, alienated, or otherwise transferred in any manner other than by will or the laws of descent and distribution, unless and until the Shares underlying the RSUs have been issued, and all restrictions applicable to such Shares have lapsed. No RSUs or any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Participant or the Participant's successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence.

<u>Section</u> <u>3.3</u> <u>Adjustments</u>. The Committee may accelerate the vesting or settlement of all or a portion of the RSUs in such circumstances as it, in its absolute discretion, may determine. The Participant acknowledges that the RSUs and the Shares subject to the RSUs are subject to adjustment, modification and termination in certain events as provided in the Agreement and the Plan, including Section 4(d) of the Plan.

<u>Section</u> <u>3.4</u> <u>Malus and</u> <u>Clawback</u>. The Participant acknowledges that the RSUs and the Shares acquired upon settlement of the RSUs shall be subject (including on a retroactive basis) to malus, clawback, recoupment, forfeiture or similar requirements (and such requirements shall be deemed incorporated by reference into the Agreement) to the extent required by the Clawback Policy, the terms of any other malus and clawback policies of the Company Group or Applicable Law (including, without limitation, Section 304 of the Sarbanes-Oxley Act and Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act) or as a result of any failure to comply with the Company's policy on confidential information and proprietary business information, or any non-competition, non-solicitation, no-hire or other restrictive covenants in the Participant's employment agreement with the Company or any other agreement between the Participant and the Company, in each case as may be in effect from time to time.

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<u>Section</u> <u>3.5</u> <u>No Advice Regarding Grant</u>. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Participant's participation in the Plan, or the Participant's acquisition or sale of the Shares underlying the RSUs. The Participant should consult with the Participant's personal tax, legal and financial advisors regarding participation in the Plan before taking any action related to the Plan.

<u>Section</u> <u>3.6</u> <u>Insider Trading/Market Abuse Laws</u>. The Participant acknowledges that the Participant may be subject to insider trading restrictions and/or market abuse laws in the United States, the United Kingdom and other jurisdictions, which may affect the Participant's ability to acquire or sell Shares or rights to Shares (e.g., RSUs) under the Plan during such time as the Participant is considered to have "inside information" or "material non-public information" regarding the Company (as defined under Applicable Law). Local insider trading laws and regulations may prohibit the cancellation or amendment of orders the Participant placed before the Participant possessed inside information or material non-public information and may also prohibit the Participant from placing (or recommending that others place) orders while in possession of inside information or material non-public information. Furthermore, the Participant could be prohibited from (i) disclosing any inside information or material non-public information to any third party and (ii) "tipping" third parties or causing them otherwise to buy or sell securities. The Participant should keep in mind that third parties include employees. Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under applicable policies or procedures maintained by the Company and its Subsidiaries from time to time. The Participant is responsible for ensuring compliance with any applicable restrictions and should consult with the Participant's personal legal advisor on this matter.

<u>Section</u> <u>3.7</u> <u>Notices</u>. Any notice to be given under the terms of the Agreement to the Company shall be sent to the Company Secretary by email to Cosec@Indivior.com with a copy sent by email to TotalRewards@Indivior.com, and any notice to be given to the Participant shall be addressed to the Participant at the Participant's last address reflected on the Company's records. By a notice given pursuant to this <u>Section</u> <u>3.7</u>, either party may hereafter designate a different address for notices to be given to that party. Any notice shall be deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service or similar non-U.S. entity.

<u>Section</u> <u>3.8</u> <u>Headings</u>. Headings are provided herein for convenience only and are not to serve as a basis for interpretation or construction of the Agreement.

<u>Section</u> <u>3.9</u> <u>Governing Law</u>. The laws of the State of Delaware shall govern the interpretation, validity, administration, enforcement and performance of the terms of the Agreement, without giving effect to the conflict of laws provisions thereof. The courts of the State of Delaware will have exclusive jurisdiction to determine any dispute in relation to the application of the Plan. By accepting the Agreement, the Participant is deemed to have agreed to submit to such jurisdiction.

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<u>Section</u> <u>3.10</u> <u>Conformity to Securities Laws</u>. The Participant acknowledges that the Plan and the Agreement are intended to conform to the extent necessary with all Applicable Laws, including, without limitation, the provisions of the Securities Act the Exchange Act, and any and all regulations and rules promulgated thereunder by the SEC, and state securities laws and regulations. Notwithstanding any other provision of the Plan or the Agreement, the Plan shall be administered, and the RSUs are granted, only in such a manner as to conform to Applicable Law and shall be deemed amended to the extent necessary to conform to Applicable Law.

<u>Section</u> <u>3.11</u> <u>Amendment, Suspension and Termination</u>. To the extent permitted by the Plan, the Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Committee or the Board*, provided* that, except as may otherwise be provided by the Plan, no amendment, modification, suspension or termination of the Agreement shall materially and adversely impair the rights of the Participant without the prior written consent of the Participant.

<u>Section</u> <u>3.12</u> <u>Imposition of Other Requirement</u>. The Company reserves the right to impose other requirements on the Participant's participation in the Plan, on the RSUs and on any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require the Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

<u>Section</u> <u>3.13</u> <u>No Waiver</u>. Any right of the Company Group contained in the Agreement may be waived in writing by the Committee. No waiver of any right hereunder by any party shall operate as a waiver of any other right, or as a waiver of the same right with respect to any subsequent occasion for its exercise, or as a waiver of any right to damages. No waiver by any party of any breach of the Agreement shall be held to constitute a waiver of any other breach or a waiver of the continuation of the same breach.

<u>Section</u> <u>3.14</u> <u>Successors and Assigns</u>. The Company may assign any of its rights under the Agreement to single or multiple assignees, and the Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth in <u>Section</u> <u>3.2</u> hereof and the Plan, the Agreement shall be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.

<u>Section</u> <u>3.15</u> <u>Limitations Applicable to Section</u> <u>16</u> <u>Persons</u>. Notwithstanding any other provision of the Plan or the Agreement, if the Participant is subject to Section 16 of the Exchange Act, the Plan, the RSUs and the Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by Applicable Law, the Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

<u>Section</u> <u>3.16</u> <u>Not a Contract of Employment</u>. Nothing in the Agreement or the Plan shall confer upon the Participant any right to serve as an employee or other service provider of any Company Group Member or shall interfere with or restrict in any way the rights of any Company Group Member, which rights are hereby expressly reserved, to discharge or terminate the employment or other services of the Participant at any time for any reason whatsoever, with or

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without Cause, except to the extent (a) expressly provided otherwise in a written agreement between a Company Group Member and the Participant or (b) where such provisions are not consistent with Applicable Law, in which case such Applicable Law shall control. The Plan and Agreement shall not constitute or form part of any contract of employment or other service agreement between any Company Group Member and the Participant.

<u>Section</u> <u>3.17</u> <u>Entire Agreement</u>. The Plan and the Agreement (including any exhibit hereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and the Participant with respect to the subject matter hereof. The Participant expressly warrants that the Participant is not accepting the Agreement in reliance on any promises, representations, or inducements other than those contained herein.

<u>Section</u> <u>3.18</u> <u>Section 409A</u>. For Participants that are U.S. taxpayers, this Award is not intended to constitute "nonqualified deferred compensation" within the meaning of Section 409A of the Code. However, notwithstanding any other provision of the Plan or the Agreement, if at any time the Committee determines that this Award (or any portion thereof) may be subject to Section 409A of the Code, the Committee shall have the right in its sole discretion (without any obligation to do so or to indemnify the Participant or any other Person for failure to do so) to adopt such amendments to the Plan or the Agreement, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Committee determines are necessary or appropriate for this Award either to be exempt from the application of Section 409A of the Code or to comply with the requirements of Section 409A of the Code. Any ambiguities herein will be interpreted such that all payments and benefits to U.S. taxpayers will be exempt from, or comply with, the requirements of Section 409A of the Code so that none of the RSUs provided under the Agreement will be subject to the additional tax imposed under Section 409A of the Code. Each payment payable under the Agreement is intended to constitute a separate payment for purposes of Treasury Regulation 1.409A-2(b)(2).

<u>Section</u> <u>3.19</u> <u>Agreement Severable</u>. In the event that any provision of the Agreement is held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of the Agreement.

<u>Section</u> <u>3.20</u> <u>Limitation on the Participant</u><u>'</u><u>s Rights</u>. Participation in the Plan confers no rights or interests upon the Participant other than as herein provided. The Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. The Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the RSUs.

<u>Section</u> <u>3.21</u> <u>Counterparts</u>. The Grant Notice may be executed in one or more counterparts, including by way of any electronic signature, subject to Applicable Law, each of which shall be deemed an original and all of which together shall constitute one instrument.

<u>Section</u> <u>3.22</u> <u>Data Privacy</u>. As a condition of receipt of the Award, and without prejudice to the Participant's acknowledgement of the Company's legitimate interests in processing the Participant's personal data, the Participant explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of personal data as described in this <u>Section</u> <u>3.22</u> by and among, as applicable, the Company and its Subsidiaries for the exclusive purpose of implementing, administering and managing the Participant's participation in the Plan. The

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Company and its Subsidiaries may hold certain personal information about the Participant, including but not limited to, the Participant's name, home address and telephone number, date of birth, social security or insurance number or other identification number, salary, nationality, job title(s), any shares held in the Company or any of its Subsidiaries, details of all Awards, in each case, for the purpose of implementing, managing and administering the Plan and Awards (the "<u>Data</u>"). The Company and its Subsidiaries may transfer the Data amongst themselves as necessary for the purpose of implementation, administration and management of the Participant's participation in the Plan, and the Company and its Subsidiaries may each further transfer the Data to any third parties assisting the Company and its Subsidiaries in the implementation, administration and management of the Plan. These recipients may be located in the Participant's country, or elsewhere, and the Participant's country may have different data privacy laws and protections than the recipients' country. Through acceptance of the Award, the Participant authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Participant's participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom the Company or any of its Subsidiaries or the Participant may elect to deposit any Shares. The Data related to the Participant will be held only as long as is necessary to implement, administer, and manage the Participant's participation in the Plan. The Participant may, at any time, view the Data held by the Company with respect to the Participant, request additional information about the storage and processing of the Data with respect to the Participant, recommend any necessary corrections to the Data with respect to the Participant or refuse or withdraw the consents herein in writing, in any case without cost, by contacting the Participant's local human resources representative. The Company may cancel the Participant's ability to participate in the Plan and, in the Committee's absolute discretion, the Participant may forfeit any outstanding Awards if the Participant refuses or withdraws the Participant's consents as described herein. For more information on the consequences of refusal to consent or withdrawal of consent, the Participant may contact their local human resources representative.

\* \* \* \*

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**APPENDIX** 

This Appendix includes special terms and conditions that govern the Award if the Participant is based in any country listed below. The information contained herein is general in nature and may not apply to the Participant's particular situation, and the Participant is advised to seek appropriate professional advice as to how the relevant laws in the Participant's country may apply to their situation. If the Participant is a citizen or resident of a country other than the one in which the Participant is currently working and/or residing, transfers employment and/or residency to another country after the date of grant, is a consultant, changes employment status to a consultant position, or is considered a resident of another country for local law purposes, the Company shall, in its discretion, determine the extent to which the special terms and conditions contained herein shall be applicable to the Participant.

**Australia** 

The Agreement, the Award, any offer made under the Plan pursuant to the Agreement and any grant of RSUs are made under Division 1A of Part 7.12 of the *Corporations Act 2001* (Cth).

Subdivision 83A-C of the *Income Tax Assessment Act 1997* (Cth) applies to the Plan.

By accepting the Award, the Participant consents to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to the collection, use and transfer of their sensitive information (including, for example, information like
nationality that could indicate racial or ethnic origin) for the purposes of implementing, administering and managing the Award, this Agreement and their participation in the Plan, in accordance with Section 3.22 of the Agreement and
Section 9(e) of the Plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• their personal information being disclosed outside of Australia, including in jurisdictions that may not afford
my personal information the same level of protection as under the laws of Australia,

and the Participant acknowledges that by granting this consent, the Company will not be required to take steps to ensure that overseas recipients comply with the privacy laws of Australia (including the Australian Privacy Principles) and if the recipient breaches the Australian Privacy Principles, the Company will not be accountable to the Participant under the *Privacy Act 1988* (Cth) and the Participant may not necessarily have redress against the recipient in the relevant overseas jurisdiction.

**Canada** 

1. If the Participant is employed in Quebec, then by signing the Agreement, the Participant acknowledges and agrees that the Participant has had access to, and has been able to review and consider, the Agreement and the Plan along with their respective terms and conditions in French prior to freely and voluntarily electing to sign the Agreement and agree to the terms and conditions of the Plan in their English versions. *En signant ci-dessous, le Participant reconnait et convient qu'il a eu accès cette Convention d'option et au Régime, ainsi qu'à leurs modalités et conditions respectives, en français, et qu'il a pu les réviser et les examiner ainsi avant de choisir librement et volontairement de signer cette Convention d'option et d'accepter les modalités et conditions du Régime dans leur version anglaise.*

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2. The reference to "subject to the Participant continuing to be employed by, or providing services to, a Company Group Member through such date" in the section entitled "Vesting Schedule" in the Grant Notice shall be read to mean "subject to the Participant's Termination Date not having occurred prior to such date".

3. Paragraph (f) in the definition of "Cause" set forth in Section 2.1 of the Agreement shall be deleted entirely and replaced with the following:

"(f) the Participant has violated state, federal or provincial securities laws or regulations; or"

4. The second sentence of Section 2.1 of the Agreement shall be deleted in its entirety and replaced with the following sentence: "Notwithstanding anything in Section 6(d) of the Plan to the contrary, each RSU represents the right to receive one Share issued from treasury at the times and subject to the conditions set forth herein."

5. Section 2.4 of the Agreement shall be deleted in its entirety and replaced with the following:

"<u>Section</u> <u>2.4</u> <u>Termination of Employment or Service</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the event the Participant's Termination Date occurs prior to the Final Vesting Date, except as otherwise provided in Section 2.4(b) or (c) or as set forth in an individual employment or similar agreement between the Participant and the applicable Company Group Member, or as otherwise determined by the Committee in its absolute discretion, or as may otherwise be required to satisfy the minimum requirements of applicable employment or labour standards legislation and, where applicable, the *Civil Code of Québec*, then all unvested RSUs shall be forfeited immediately upon such Termination Date for no consideration, and the Participant waives any claim to damages in respect thereof whether related or attributable to any contractual, civil law or common law termination entitlement or otherwise. For greater certainty, any transfer of the Participant's employment or service from one Company Group Member to another shall not constitute a Termination Date for purposes of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as may otherwise be required to satisfy the minimum requirements of applicable employment or labour standards legislation and, where applicable, the *Civil Code of Québec*, in the event the Participant's Termination Date occurs prior to the Final Vesting Date by reason of a termination of employment or service by the Company Group, as applicable, without Cause, then subject to the execution and non-revocation of a customary release of claims by the Participant in favor of the Company Group Member within sixty (60) days following the Termination Date, the Participant shall immediately vest in a pro-rated portion of the RSUs and the balance of RSUs (i.e., any RSUs that remain unvested after taking into account the vesting of such pro-rated portion) shall be immediately forfeited upon such Termination Date for no consideration, and the Participant waives any claim to damages in respect thereof whether related or attributable to any contractual, civil law or common law termination entitlement or otherwise. For this purpose, the pro-rated portion shall be calculated by (i) multiplying (x) the total number of RSUs awarded under the Agreement by (y) a fraction, the numerator of which shall be the

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number of days in the period commencing on the Vesting Commencement Date and concluding on the Termination Date, and the denominator of which shall be the number of days in the period commencing on the Vesting Commencement Date and concluding on the originally scheduled Final Vesting Date (as set forth on the first page of the Grant Notice) (the resulting amount, the "<u>Aggregate Pro-Rated RSUs</u>"), (ii) subtracting from the Aggregate Pro-Rated RSUs the number of RSUs subject to the Award that have already vested as of the Termination Date, and (iii) rounding the number from the foregoing calculation to the nearest whole number.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event the Participant's Termination Date occurs prior to the Final Vesting Date due to death or Disability, then in each case, subject to the execution and non-revocation of a customary release of claims by the Participant (or the estate of the Participant if applicable) in favor of the Company Group Member within sixty (60) days following the Termination Date, the Participant's then-unvested RSUs shall immediately vest in full upon such Termination Date."

6. Section 2.7(a) of the Agreement shall be deleted in its entirety and replaced with the following:

"(a) The Company shall have the right and is hereby authorized to withhold, any applicable withholding taxes in respect of the Participant's RSUs, their grant or vesting or any payment or transfer with respect to the Participant's RSUs up to the maximum applicable statutory rates, and to take such action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes. Subject to the Company's compliance with Applicable Law, and unless the Participant has elected at least 30 days in advance of the applicable withholding event to satisfy the applicable withholding obligations by a cash payment from the Participant to the Company (or the Subsidiary last employing the Participant), in any case where a tax is required to be withheld in connection with the delivery of Shares in respect of the Participant's RSUs, by execution of this Agreement, the Participant hereby elects for the tax withholding obligation to be satisfied by the Company withholding a number of Shares otherwise issuable or deliverable to, or that would otherwise be retained by, the Participant, which Shares so withheld have an aggregate Fair Market Value equal to an amount not in excess of the maximum statutorily required withholding liability (or portion thereof) that equals (but does not exceed) the required tax withholding payment."

7. The second sentence of Section 3.3 of the Agreement shall be deleted in its entirety and replaced with the following: "The Participant acknowledges that the RSUs and the Shares subject to the RSUs are subject to adjustment, modification, and termination in certain events as provided in the Agreement and the Plan, including Section 4(d) of the Plan; *provided* that any cancellation of the RSUs for consideration shall be implemented in accordance with section 7 of the *Income Tax Act* (Canada); *provided*, further, that notwithstanding Section 4(e) of the Plan, any awards subject to section 7 of the *Income Tax Act* (Canada) may not be substituted by any Substitute Award, except where such substitution meets the requirements of an exchange of awards pursuant to section 7(1.4) of the *Income Tax Act* (Canada)."

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8. Section 3.16 of the Agreement shall be deleted in its entirety and replaced with the following:

<u>"Section</u> <u>3.16</u> <u>Not a Contract of Employment</u>. Nothing in the Agreement or the Plan shall confer upon the Participant any right to serve as an employee or other service provider of any Company Group Member or shall interfere with or restrict in any way the rights of any Company Group Member, which rights are hereby expressly reserved, to discharge or terminate the employment or other services of the Participant, except to the extent (a) expressly provided otherwise in a written agreement between a Company Group Member and the Participant or (b) where such provisions are not consistent with Applicable Law, in which case such Applicable Law shall control. The Plan and Agreement shall not constitute or form part of any contract of employment or other service agreement between any Company Group Member and the Participant."

9. For the purpose of the Grant Notice and Section 2.4 of the Agreement, the following terms shall have the meanings set forth below:

"<u>Consultant</u>" means: an individual or a consultant company that:

(a) is engaged to provide services on a bona fide basis to the Company or a Subsidiary, other than services provided in relation to a distribution of securities of the Company or a Subsidiary;

(b) provides the services under a written contract with the Company or a Subsidiary; and

(c) spends or will spend a significant amount of time and attention on the affairs and business of the Company or a Subsidiary.

For the purposes of this definition, "consultant company" means, with respect to an individual consultant, either (i) a company of which the individual consultant is an employee or shareholder; or (ii) a partnership of which the individual consultant is an employee or partner.

"<u>Disability</u>" shall have the meaning set out in the Participant's employment or service agreement or, if no such agreement or definition exists, shall mean (i) the Participant is eligible for benefits under the applicable Company Group Member's long-term disability plan, or (ii) the Participant has a physical or mental incapacity that cannot be accommodated and that prevents the Participant from substantially fulfilling the Participant's responsibilities on behalf of the Company Group for a continuous period of twelve (12) consecutive months.

"<u>Termination Date</u>" means:

(a) in the case of an employee, (i) the date on which the employee's employment with the Company Group
ceases for any reason, whether lawful or otherwise (including, without limitation, by reason of resignation, retirement, death, frustration of contract, termination for Cause, termination without Cause, Disability or constructive dismissal) without
regard to any pay in lieu of notice (whether paid by lump sum or salary continuance), benefits continuation, or other termination or severance payments to which the employee may be entitled, whether pursuant to contract, the common or civil law or
otherwise, or (ii) on such later date, if applicable, as may be required to satisfy the minimum requirements of applicable employment or labour standards legislation. For greater certainty, an employee shall not cease to be employed by the
Company Group because of a period of vacation, temporary illness, maternity or parental leave, or any other authorized leave of absence. For the avoidance of any doubt, the parties intend to displace any presumption that the Participant is entitled
to reasonable notice of termination under common law or civil law in connection with the Plan in excess of any minimum statutory notice under applicable employment or labour standards legislation;

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(b) in the case of a Director who is not an employee or Consultant, the date upon which the Participant ceases to
hold office; or

(c) in the case of a Consultant, the date that is designated by the Company Group, or by the Consultant, as the
date on which the Participant's consulting agreement or arrangement is terminated, without regard to any applicable period of reasonable notice or contractual notice to which the Participant may claim to be entitled under common law, civil law
or pursuant to contract in respect of a period which follows the date on which the Participant's consulting agreement or arrangement is terminated as specified in the notice of termination.

**France** 

The Award shall be deemed to have granted under the French Sub-Plan. The RSUs are subject to the terms and conditions set forth in the Agreement, the Plan, and the French Sub-Plan. In the event of any conflict between the terms in the Agreement and/or the Plan and/or the French Sub-Plan, the terms of the French Sub-Plan shall prevail.

Notwithstanding anything to the contrary stated in the Agreement, the Vesting Date shall be at least two years from the Grant Date. In practice, this means that, before the second anniversary of the Grant Date, save the case of death and Disability mentioned in the French Sub-Plan, the Award will not vest nor be settled and corresponding Shares cannot be sold.

Notwithstanding anything to the contrary in the Plan (including Section 4(d)) or Sections 2.1 and 3.3 of the Agreement, the Board or the Committee may, at its sole discretion, make adjustments to the Award, as well as the number of Shares to be delivered, upon the occurrence of certain transactions, in which case the Company shall take necessary measures in order to preserve the Participant's interests, as provided for in articles L.225-181, L.228-99, R.225-137 to R.225-142, and to R.228-91 of the French Commercial Code with respect to Awards.

If the Awards is modified, adjusted or administered under Sections 2.2, 2.4 and/or 3.3 of the Agreement, and the modification, adjustment or administration contravenes the terms and conditions of the French Sub-Plan, the Award may no longer qualify as RSUs. In the event the Board or the Committee, at its discretion and in accordance with the Agreement, authorizes immediate vesting of the Award or waives restrictions that were imposed regarding sale or transfer of the underlying Shares subject to the Award, the Award may no longer benefit from the French special tax and social security treatment. In the event that the Award no longer qualifies as RSUs, the holder of such Award shall be ultimately liable and responsible for all taxes and/or social security contributions that he or she is legally required to pay in connection with the Award.

By accepting this Award of RSUs, the Participant confirms he/she has read and understood the Agreement, the Plan and the French Sub-Plan, which were provided in the English language. The Participant accepts the terms of those documents accordingly.

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**Ireland** 

1. The benefit to the Participant of the Award of RSUs (or of any Shares issued, allotted or transferred to the Participant upon settlement of the RSUs) shall, save as provided for by Applicable Law, (i) not form any part of the Participant's remuneration or count as his or her remuneration for any purpose, (ii) not be pensionable and (iii) not give the Participant any rights or additional rights in respect of any pension scheme operated by a Company Group Member.

2. Section 3.4 of the Agreement is amended and restated as follows:

"<u>Section</u> <u>3.4</u> <u>Malus and Clawback</u>. The Participant acknowledges that the RSUs and the Shares acquired upon settlement of the RSUs shall be subject (including on a retroactive basis) to malus, clawback, recoupment, forfeiture or similar requirements (and such requirements shall be deemed incorporated by reference into the Agreement) to the extent required by the Clawback Policy, the terms of any other malus and clawback policies of the Company Group or Applicable Law (including, without limitation, Section 304 of the Sarbanes-Oxley Act and Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act) or as a result of any failure to comply with the Company's policy on confidential information and proprietary business information, or any non-competition, non solicitation, no-hire or other restrictive covenants in the Participant's employment agreement with a Company Group Member or any other agreement between the Participant and a Company Group member, in each case as may be in effect from time to time. Without prejudice to the rights of a Company Group Member to effect clawback, recoupment, forfeiture or similar requirements through one or more other means, the acceptance of this Award constitutes the Participant's instruction and irrevocable authorization to a Company Group Member to withhold through payroll deduction such amount or amounts for which the Participant may become liable (as determined by the Company) arising from clawback, recoupment, forfeiture or similar requirements becoming applicable to the Shares acquired upon settlement of the RSUs."

3. The Participant shall provide to the Company Group Member as soon as reasonably practicable such information as the Company Group Member reasonably requests for the purpose of complying with its obligations (if any) under Section 897B of Taxes Consolidation Act 1997 (as amended) of Ireland.

4. If the Participant is a director or shadow director or secretary of any Company Group Member that is incorporated in Ireland (an "<u>Ireland Subsidiary</u>") the Participant shall notify the Ireland Subsidiary in writing within five business days of the Participant receiving or disposing of a "disclosable interest" (within the meaning of and for the purposes of Chapter 5 of Part 5 of the Companies Act 2014 of Ireland) in the Company, or within five business days of the Participant becoming aware of the event giving rise to the notification requirement, or within five business days of the Participant becoming a director or shadow director or secretary if such a "disclosable interest" exists at the time.

**United Kingdom** 

The Award shall be deemed to have granted under the U.K. Sub-Plan.

The Award shall not be pensionable.

## Exhibit 10.6

**Exhibit 10.6.4** 

**INDIVIOR PHARMACEUTICALS, INC.** 

**2026 OMNIBUS EQUITY INCENTIVE PLAN** 

**PERFORMANCE STOCK UNIT AWARD AGREEMENT** 

**<u>GRANT NOTICE</u>**

Indivior Pharmaceuticals, Inc., a Delaware corporation (the "<u>Company</u>"), pursuant to its 2026 Omnibus Equity Incentive Plan (the "<u>Plan</u>"), hereby grants to the individual whose name is set forth below (the "<u>Participant</u>") the number of performance-based restricted stock units set forth below (the "<u>PSUs</u>") as of the date set forth below (the "<u>Grant Date</u>"). The PSUs are subject to the terms and conditions set forth in this Performance Stock Unit Award Grant Notice (this "<u>Grant Notice</u>"), the Terms and Conditions of the Performance Stock Unit Award attached hereto as <u>Exhibit A</u>, the performance goals described on <u>Exhibit B</u> and the <u>Appendix</u> (the "<u>Ts&Cs</u>") (together with this Grant Notice, the "<u>Agreement</u>"), and the Plan, each of which is incorporated herein by reference. Unless otherwise defined in the Agreement, capitalized terms used in the Agreement shall have the meanings ascribed to such terms in the Plan.

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| |
|:---|
|  **Name of Participant:** |
|  **Target Number of PSUs:** |
|  **Grant Date:** |
|  **Vesting Date:** |
|  **Performance Period:** |

---

**Vesting**: Except as otherwise set forth in the Agreement or in any individual employment or similar agreement between the Participant and the Company or any of its Subsidiaries (each, a "<u>Company Group Member</u>" and collectively, the "<u>Company Group</u>"), the PSUs will vest on the Vesting Date, subject to the Participant continuing to be employed by, or providing services to, a Company Group Member through such date, and subject to the achievement of the performance goals described on <u>Exhibit B</u>.

**Acceptance:** 

The Participant acknowledges receipt of a copy of the Plan, the Company's most recent prospectus that describes the Plan and the Agreement. The Participant further acknowledges that the Participant has reviewed the Agreement, including this Grant Notice, the Ts&Cs and the Plan in their entirety, and fully understands all provisions of the Agreement and the Plan.

By the Participant's signature below or through any electronic acceptance procedure established by the Company, the Participant agrees to be bound by the terms and conditions of the Plan and the Agreement, including this Grant Notice and the Ts&Cs. The Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions arising under the Plan or the Agreement. By the Participant's signature below or through any acceptance procedure established by the Company, the Participant agrees, to the fullest extent permitted by Applicable Law, that in lieu of receiving documents in paper format, the Participant accepts the electronic delivery of any documents the Company, or any third party

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involved in administering the Plan, which the Company may designate in its absolute discretion, may deliver in connection with this grant (including the Plan, the Agreement, account statements, prospectuses, prospectus supplements, annual and quarterly reports and all other communications and information) whether via the Company's intranet or the internet site of another such third party or via email, or such other means of electronic delivery specified by the Company.

To accept this Award of PSUs, the Participant must consent and agree to the terms and conditions on which this Award is offered, as set forth in the Plan and the Agreement, **through DocuSign (or such other administration platform as required by the Company in its absolute discretion) no later than thirty (30) days following the date on which the Agreement is presented to the Participant**. If within such thirty (30)-day period the Participant does not accept this Award, the Participant will be deemed to have rejected this Award pursuant to the terms and conditions set forth in the Plan and the Agreement, including this Grant Notice and the Ts&Cs, and this Award will be cancelled automatically and without any further action on the part of the Company or the Participant immediately upon the expiration of such thirty (30)-day period, and without any additional consideration therefor.

**Acknowledged and Agreed:** 

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| |
|:---|
|  Signed: |
|  Print Name: |

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**EXHIBIT A** 

**TO PERFORMANCE STOCK UNIT AWARD GRANT NOTICE** 

**TERMS AND CONDITIONS OF PERFORMANCE STOCK UNIT AWARD** 

Pursuant to the Grant Notice to which this <u>Exhibit A</u> is attached, and forms a part of, the Company has granted to the Participant the number of PSUs set forth in the Grant Notice.

**ARTICLE I.** 

**GENERAL** 

<u>Section</u> <u>1.1</u> <u>Incorporation of Terms of Plan</u>. The PSUs and any Shares that may be issued to the Participant hereunder are subject to the terms and conditions set forth in the Agreement and the Plan, which are incorporated herein by reference. In the event of any inconsistency between the Plan and the Agreement, the terms of the Plan shall control.

<u>Section</u> <u>1.2</u> <u>Defined Terms</u>. For purposes of the Agreement, the following terms shall have the following meanings:

"<u>Cause</u>" shall mean, unless otherwise set forth in an individual employment or similar agreement between Participant and the applicable Company Group Member, a reasonable and good faith determination by the Company Group that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Participant has failed to substantially perform the Participant's duties and obligations to the Company Group to the satisfaction of the Company Group (other than failure resulting from the Participant's incapacity because of Disability), including one or more acts of gross negligence or insubordination or a material breach of the Company Group's policies and procedures (other than such policies set forth in clause (b) below), which failure is not cured, if capable of being cured, within fifteen (15) days after a written demand for cure is received by the Participant from the Company Group which specifically identifies the manner in which the Company Group believes the Participant has failed to substantially perform the Participant's duties and obligations to the Company Group to the Company Group's satisfaction;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Participant has materially breached the Company Group's Code of Conduct, Equal Opportunity and Anti-Harassment policies, or compliance policies (including the Code of Business Conduct, the Anti-Bribery Policy, the Competition Law Compliance Manual and the Global Policy on Healthcare Business Ethics);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Participant has been indicted for, convicted of, or entered a plea of guilty or nolo contendere to, a felony or any other crime involving fraud, dishonesty, theft, breach of trust or moral turpitude;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Participant has willfully engaged in conduct which results in, or could reasonably be expected to result in, material injury to the Company Group's financial condition, reputation, or ability to do business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Participant has materially breached any written agreement with the Company Group;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the Participant has violated state or federal securities laws or regulations; 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;(g) the Participant has willfully failed to cooperate with a bona fide internal investigation or an investigation by regulatory or law enforcement authorities, after being instructed by the Company Group to cooperate, willfully destroyed or failed to preserve documents or other materials relevant to such investigation, or willfully induced others to fail to cooperate or to produce documents or other materials in connection with such investigation.

"<u>Disability</u>" shall mean (i) the Participant is eligible for benefits under the applicable Company Group Member's long-term disability plan, (ii) the Participant is eligible for Social Security disability benefits, or (iii) the Participant is unable to engage in any substantial, gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months.

**ARTICLE II.** 

**AWARD OF PERFORMANCE STOCK UNITS** 

<u>Section</u> <u>2.1</u> <u>Award of PSUs</u>. In consideration of the Participant's past and/or continued employment with or service to the Company Group and for other good and valuable consideration, effective as of the Grant Date, the Company has granted to the Participant the number of PSUs set forth in the Grant Notice, upon the terms and conditions set forth in the Agreement and the Plan, subject to adjustment as provided in Section 4(d) of the Plan. Each PSU represents the right to receive one Share at the times and subject to the conditions set forth herein. However, unless and until the PSUs have vested, the Participant will have no right to the payment of any Shares subject thereto. Prior to the actual delivery of any Shares, the PSUs will represent an unsecured obligation of the Company, payable only from the general assets of the Company.

<u>Section</u> <u>2.2</u> <u>Regular Earning and Vesting of PSUs</u>. The number of PSUs that are earned based on the achievement of the performance conditions shall be determined in accordance with <u>Exhibit B</u> (the PSUs so earned, the "<u>Earned PSUs</u>"). The Earned PSUs shall vest in such amounts and at such times as are set forth in the Grant Notice, subject to <u>Sections 2.3</u> and <u>2.4</u>. Any outstanding PSUs other than the Earned PSUs shall be forfeited as of the date of the determination that the PSUs are not earned.

<u>Section</u> <u>2.3</u> <u>Change in Control</u>. Unless the Committee determines otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the event a Change in Control occurs prior to the Vesting Date and the PSUs are not assumed or substituted by the surviving entity or successor corporation (or an Affiliate thereof) in connection with such Change in Control, then a number of PSUs that remain outstanding as of immediately prior to the Change in Control (and have not been earlier forfeited upon a termination of employment or service) shall vest at either (as the Committee may determine) (i) the target level of performance, which may be pro-rated based on the period elapsed between the beginning of the Performance Period and the date of the Change in Control, or (ii) the actual level of performance as of the most recent practicable date prior to the Change in Control (as determined by the Committee) with respect to all performance goals described on <u>Exhibit B</u> (and the vesting pursuant to this clause (ii) shall constitute "full vesting" for purposes of Section 8(a) of the Plan).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event a Change in Control occurs and the surviving entity or successor corporation (or an Affiliate thereof) assumes or substitutes the PSUs, the PSUs shall remain outstanding and, if the Performance Period shall have not yet ended, eligible to be earned in accordance with the terms herein; *provided* that, if the Committee determines that the performance conditions cannot practicably continue to be measured following such Change in Control, then the Performance Period will be deemed completed and the PSUs will convert to a number of time-vesting restricted stock units ("<u>RSUs</u>") equal to either (as the Committee may determine) (i) such number of PSUs as would be earned based on target level of performance or (ii) such number of PSUs as would be earned based on the actual level of performance, as determined by the Committee as of the Change in Control in accordance with <u>Exhibit B</u>. The PSUs, or such converted RSUs, shall remain eligible to vest on the Vesting Date (subject to continued employment or services, and subject to acceleration as described in <u>Section</u> <u>2.4</u>).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any PSUs outstanding as of immediately prior to a Change in Control that remain unearned (and are not converted to time-vesting RSUs) following the application of <u>Sections 2.3(a)</u> and <u>2.3(b)</u> shall immediately be forfeited as of the Change in Control and the Participant shall not be entitled to receive any consideration with respect thereto.

<u>Section</u> <u>2.4</u> <u>Termination of Employment or Service</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the event the Participant's employment or service with the Company Group is terminated prior to the Vesting Date, except as otherwise provided in <u>Section</u> <u>2.4(b)</u> or <u>(c)</u>, or as set forth in an individual employment or similar agreement between the Participant and the applicable Company Group Member, or as otherwise determined by the Committee in its absolute discretion, then all unvested PSUs shall be forfeited immediately upon such termination and the Participant shall not be entitled to receive any consideration with respect thereto. Employment or service for only a portion of a vesting period prior to the Vesting Date, even if a substantial portion, will not entitle the Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services except as specifically provided otherwise in the Agreement or in any individual employment or similar agreement between the Participant and the applicable Company Group Member. A transfer of the Participant's employment or service from one Company Group Member to another shall not be considered a termination of employment or service. The Participant's employment or service with the Company Group shall be deemed to terminate as of the date the Participant is no longer actively providing services to the Company Group (regardless of the reason for the termination and whether or not later found to be invalid or in breach of Applicable Law or the terms of any individual employment or similar agreement between the Participant and a Company Group Member).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event the Participant's employment or service with the Company Group is terminated prior to the Vesting Date by the Company Group without Cause, then, subject to the execution and non-revocation of a customary release of claims by the Participant in favor of the Company Group within sixty (60) days following the date of such termination, the Participant shall immediately vest in a pro-rated portion of the PSUs (subject to the determination of the achievement of the performance conditions) and the balance of the PSUs shall be immediately forfeited upon such termination and the Participant shall not be entitled to receive any consideration with respect thereto. For this purpose, the pro-rated portion shall be calculated by (i) multiplying (x) the total number of Earned PSUs (or the total number of RSUs that converted from the PSUs upon a Change in Control) by (y) a fraction, the numerator of which shall be the number of days in the period commencing on the Grant Date and concluding on the date of termination of the Participant's employment or service, and the denominator of which shall be the number of days

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in the period commencing on the Grant Date and concluding on the originally scheduled Vesting Date (as set forth on the first page of the Grant Notice) and (ii) rounding the number from the foregoing calculation to the nearest whole number; provided, however, that if the Performance Period has not completed as of the date of such termination of employment or service, the target number of PSUs will be prorated as of the date of termination or service based on the fraction described in the immediately preceding sentence, and such prorated number of PSUs will remain outstanding and eligible to be earned and vest based on the achievement of the performance conditions at the end of the Performance Period in accordance with <u>Exhibit B</u> (with the percentages set forth in <u>Exhibit B</u> applied to such prorated number of PSUs rather than the target number granted). For the avoidance of doubt, any PSUs that remain outstanding and eligible to be earned and vest pursuant to the immediately preceding sentence shall also remain eligible to be treated in accordance with <u>Section</u> <u>2.3(a)</u> or <u>Section</u> <u>2.3(b)</u> hereof, as applicable, in the event that a Change in Control occurs following the date of such termination of employment or service and if such PSUs remain outstanding immediately prior to such Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event the Participant's employment or service with the Company Group is terminated due to death or Disability prior to the Vesting Date, then in each case, subject to the execution and non-revocation of a customary release of claims by the Participant (or the estate of the Participant if applicable) in favor of the Company Group within sixty (60) days following the date of such termination, the Participant's then-outstanding PSUs shall immediately vest in full upon such termination of employment or service based on deemed target achievement of the performance conditions (or, if the Performance Period has already ended as of such date (including as a result of the surviving entity or successor corporation (or an Affiliate thereof) refusing to assume or substitute the PSUs), the Earned PSUs shall instead immediately vest in full upon such date). For the avoidance of doubt, any PSUs that remain outstanding and eligible to be earned and vest pursuant to the immediately preceding sentence shall also remain eligible to be treated in accordance with <u>Section</u> <u>2.3(a)</u> or <u>Section</u> <u>2.3(b)</u> hereof, as applicable, in the event that a Change in Control occurs following the date of such termination of employment or service and if such PSUs remain outstanding immediately prior to such Change in Control.

<u>Section</u> <u>2.5</u> <u>Settlement of PSUs</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The PSUs shall be settled by the delivery of Shares to the Participant or to a third party to hold the Shares for the Participant's benefit if directed by the Participant (either in registered form, book-entry form or as otherwise determined by the Committee) as soon as administratively practicable following the Vesting Date (or any earlier vesting upon termination of employment or service or a Change in Control as provided herein; *provided* that if any of the performance conditions continue following, or the number of PSUs earned based on performance has otherwise not been determined as of, the date of a termination of employment or service or a Change in Control, as provided herein, delivery shall occur as soon as administratively practicable following the last day of the Performance Period or the determination of the number of PSUs earned), and, for any Participant that is a U.S. taxpayer, no later than March 15<sup>th</sup> of the calendar year following the year in which the PSUs are no longer subject to a substantial risk of forfeiture (for the avoidance of doubt, this deadline is intended to comply with the "short-term deferral" exemption from Section 409A of the Code). Notwithstanding the foregoing, the Company may delay the settlement of PSUs if it reasonably determines that such payment or distribution will violate Applicable Law, *provided* that such settlement shall be made at the earliest date at which the Company reasonably determines that the making of such distribution or payment will not cause such violation, as required by Treasury Regulation Section 1.409A-2(b)(7)(ii), and *provided further* that no settlement shall be delayed under this <u>Section</u> <u>2.5(a)</u> if such delay will result in adverse tax consequences under Section 409A of the Code.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Settlement of vested PSUs shall be made by the Company in the form of whole Shares, rounded down to the nearest whole Share, with no cash or other consideration provided in lieu of any fractional Shares. The Participant shall have no rights or entitlements with respect to any fractional Shares.

<u>Section</u> <u>2.6</u> <u>Conditions to Issuance of Certificates</u>. The Company shall not be required to issue or deliver any Shares or to cause any Shares to be issued or delivered in registered, book-entry or any other form prior to the fulfillment of all of the following conditions: (a) the admission of the Shares to listing and trading on all stock exchanges on which such Shares are then listed, (b) the completion of any registration or other qualification of the Shares under any Applicable Law or under rulings or regulations of the SEC, the United Kingdom Financial Conduct Authority or other governmental regulatory body, which the Committee, in its absolute discretion, determines to be necessary or advisable, (c) the obtaining of any approval or other clearance from any state, federal or national governmental agency that the Committee, in its absolute discretion, determine to be necessary or advisable, (d) the receipt by the Company of full payment for such Shares in accordance with Applicable Law, which may be in one or more of the forms of consideration approved by the Committee from time to time, that the Committee, in its absolute discretion, determines to be necessary or advisable, and (e) the receipt of full payment of any applicable withholding tax in accordance with Section <u>2.7</u> hereof by the Company Group Member with respect to which the applicable withholding obligation arises. Notwithstanding the foregoing, the issuance or transfer of the Shares underlying this Award shall not be accelerated or delayed if such acceleration or delay would result in adverse tax consequences under Section 409A of the Code. Delays may be permitted only to the extent permitted by Section 409A of the Code.

<u>Section</u> <u>2.7</u> <u>Tax Withholding</u>. Notwithstanding any other provision of the Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall have the right and is hereby authorized to withhold, any applicable withholding taxes in respect of the Participant's PSUs, their grant or vesting or any payment or transfer with respect to the Participant's PSUs up to the maximum applicable statutory rates, and to take such action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes. To satisfy Participant's maximum income, employment and/or other applicable taxes that are statutorily required to be withheld, the Company shall withhold from the Shares otherwise issuable or deliverable to, or that would otherwise be retained by, the Participant a number of Shares with an aggregate Fair Market Value equal to an amount not in excess of such maximum statutorily required withholding liability (or portion thereof).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Participant is ultimately liable and responsible for, and, to the extent permitted by Applicable Law, agrees to indemnify and keep indemnified the Company Group from, all taxes owed by the Participant in connection with this Award, regardless of any action taken by any Company Group Member with respect to any tax withholding obligations that arise in connection with this Award. No Company Group Member makes any representation or undertaking regarding the treatment of any tax withholding in connection with the awarding, vesting or settlement of this Award or the subsequent sale of Shares. The Company Group does not commit and is under no obligation to structure this Award to reduce or eliminate the Participant's tax liability.

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<u>Section</u> <u>2.8</u> <u>Rights as Stockholder</u>. Neither the Participant nor any Person claiming under or through the Participant will have any of the rights or privileges of a stockholder of the Company in respect of any Shares issuable or deliverable hereunder unless and until such Shares (which may be in registered, book-entry or such other form as the Committee may approve) will have been issued in accordance with this <u>Section</u> <u>2.8</u>, and recorded in the register of members and such other books and records of the Company or its transfer agents or registrars as may be required and delivered to the Participant or to a third party if the Participant directs that the Shares be delivered to such third party to hold for the benefit of the Participant (including through electronic delivery to a brokerage account). Except as otherwise provided herein, after such issuance, recordation and delivery, the Participant will have all the rights of a stockholder of the Company with respect to such Shares, including, without limitation, the right to vote such Shares and the right to receive dividends and distributions on such Shares.

**ARTICLE III.** 

**OTHER PROVISIONS** 

<u>Section</u> <u>3.1</u> <u>Administration</u>. The Committee shall have the power to interpret the Plan and the Agreement and to adopt such rules for the administration, interpretation and application of the Plan and the Agreement as are consistent therewith and to interpret, amend or revoke any such rules. All actions taken and all interpretations and determinations made by the Committee will be final and binding upon the Participant, the Company and all other interested Persons. To the extent allowable pursuant to Applicable Law, no member of the Committee or the Board will be personally liable for any action, determination or interpretation made with respect to the Plan or the Agreement.

<u>Section</u> <u>3.2</u> <u>PSUs Not Transferable</u>. The PSUs may not be sold, pledged, attached, assigned, alienated, or otherwise transferred in any manner other than by will or the laws of descent and distribution, unless and until the Shares underlying the PSUs have been issued, and all restrictions applicable to such Shares have lapsed. No PSUs or any interest or right therein or part thereof shall be liable for the debts, contracts or engagements of the Participant or the Participant's successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence.

<u>Section</u> <u>3.3</u> <u>Adjustments</u>. The Committee may accelerate the vesting or settlement of all or a portion of the PSUs in such circumstances as it, in its absolute discretion, may determine. The Participant acknowledges that the PSUs and the Shares subject to the PSUs are subject to adjustment, modification and termination in certain events as provided in the Agreement and the Plan, including Section 4(d) of the Plan.

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<u>Section</u> <u>3.4</u> <u>Malus and Clawback</u>. The Participant acknowledges that the PSUs and the Shares acquired upon settlement of the PSUs shall be subject (including on a retroactive basis) to malus, clawback, recoupment, forfeiture or similar requirements (and such requirements shall be deemed incorporated by reference into the Agreement) to the extent required by the Clawback Policy, the terms of any other malus and clawback policies of the Company Group or Applicable Law (including, without limitation, Section 304 of the Sarbanes-Oxley Act and Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act) or as a result of any failure to comply with the Company's policy on confidential information and proprietary business information, or any non-competition, non-solicitation, no-hire or other restrictive covenants in the Participant's employment agreement with the Company or any other agreement between the Participant and the Company, in each case as may be in effect from time to time.

<u>Section</u> <u>3.5</u> <u>No Advice Regarding Grant</u>. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Participant's participation in the Plan, or the Participant's acquisition or sale of the Shares underlying the PSUs. The Participant should consult with the Participant's personal tax, legal and financial advisors regarding participation in the Plan before taking any action related to the Plan.

<u>Section</u> <u>3.6</u> <u>Insider Trading/Market Abuse Laws</u>. The Participant acknowledges that the Participant may be subject to insider trading restrictions and/or market abuse laws in the United States, the United Kingdom and other jurisdictions, which may affect the Participant's ability to acquire or sell Shares or rights to Shares (e.g., PSUs) under the Plan during such time as the Participant is considered to have "inside information" or "material non-public information" regarding the Company (as defined under Applicable Law). Local insider trading laws and regulations may prohibit the cancellation or amendment of orders the Participant placed before the Participant possessed inside information or material non-public information and may also prohibit the Participant from placing (or recommending that others place) orders while in possession of inside information or material non-public information. Furthermore, the Participant could be prohibited from (i) disclosing any inside information or material non-public information to any third party and (ii) "tipping" third parties or causing them otherwise to buy or sell securities. The Participant should keep in mind that third parties include employees. Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under applicable policies or procedures maintained by the Company and its Subsidiaries from time to time. The Participant is responsible for ensuring compliance with any applicable restrictions and should consult with the Participant's personal legal advisor on this matter.

<u>Section</u> <u>3.7</u> <u>Notices</u>. Any notice to be given under the terms of the Agreement to the Company shall be sent to the Company Secretary by email to Cosec@Indivior.com with a copy sent by email to TotalRewards@Indivior.com, and any notice to be given to the Participant shall be addressed to the Participant at the Participant's last address reflected on the Company's records. By a notice given pursuant to this <u>Section</u> <u>3.7</u>, either party may hereafter designate a different address for notices to be given to that party. Any notice shall be deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service or similar non-U.S. entity.

<u>Section</u> <u>3.8</u> <u>Headings</u>. Headings are provided herein for convenience only and are not to serve as a basis for interpretation or construction of the Agreement.

<u>Section</u> <u>3.9</u> <u>Governing Law</u>. The laws of the State of Delaware shall govern the interpretation, validity, administration, enforcement and performance of the terms of the Agreement, without giving effect to the conflict of laws provisions thereof. The courts of the State of Delaware will have exclusive jurisdiction to determine any dispute in relation to the application of the Plan. By accepting the Agreement, the Participant is deemed to have agreed to submit to such jurisdiction.

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<u>Section</u> <u>3.10</u> <u>Conformity to Securities Laws</u>. The Participant acknowledges that the Plan and the Agreement are intended to conform to the extent necessary with all Applicable Laws, including, without limitation, the provisions of the Securities Act the Exchange Act, and any and all regulations and rules promulgated thereunder by the SEC, and state securities laws and regulations. Notwithstanding any other provision of the Plan or the Agreement, the Plan shall be administered, and the PSUs are granted, only in such a manner as to conform to Applicable Law and shall be deemed amended to the extent necessary to conform to Applicable Law.

<u>Section</u> <u>3.11</u> <u>Amendment, Suspension and Termination</u>. To the extent permitted by the Plan, the Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Committee or the Board*, provided* that, except as may otherwise be provided by the Plan, no amendment, modification, suspension or termination of the Agreement shall materially and adversely impair the rights of the Participant without the prior written consent of the Participant.

<u>Section</u> <u>3.12</u> <u>Imposition of Other Requirement</u>. The Company reserves the right to impose other requirements on the Participant's participation in the Plan, on the PSUs and on any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative reasons, and to require the Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

<u>Section</u> <u>3.13</u> <u>No Waiver</u>. Any right of the Company Group contained in the Agreement may be waived in writing by the Committee. No waiver of any right hereunder by any party shall operate as a waiver of any other right, or as a waiver of the same right with respect to any subsequent occasion for its exercise, or as a waiver of any right to damages. No waiver by any party of any breach of the Agreement shall be held to constitute a waiver of any other breach or a waiver of the continuation of the same breach.

<u>Section</u> <u>3.14</u> <u>Successors and Assigns</u>. The Company may assign any of its rights under the Agreement to single or multiple assignees, and the Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth in Section <u>3.2</u> hereof and the Plan, the Agreement shall be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.

<u>Section</u> <u>3.15</u> <u>Limitations Applicable to Section</u> <u>16</u> <u>Persons</u>. Notwithstanding any other provision of the Plan or the Agreement, if the Participant is subject to Section 16 of the Exchange Act, the Plan, the PSUs and the Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by Applicable Law, the Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

<u>Section</u> <u>3.16</u> <u>Not a Contract of Employment</u>. Nothing in the Agreement or the Plan shall confer upon the Participant any right to serve as an employee or other service provider of any Company Group Member or shall interfere with or restrict in any way the rights of any Company Group Member, which rights are hereby expressly reserved, to discharge or terminate the employment or other services of the Participant at any time for any reason whatsoever, with or

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without Cause, except to the extent (a) expressly provided otherwise in a written agreement between a Company Group Member and the Participant or (b) where such provisions are not consistent with Applicable Law, in which case such Applicable Law shall control. The Plan and Agreement shall not constitute or form part of any contract of employment or other service agreement between any Company Group Member and the Participant.

<u>Section</u> <u>3.17</u> <u>Entire Agreement</u>. The Plan and the Agreement (including any exhibit hereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and the Participant with respect to the subject matter hereof. The Participant expressly warrants that the Participant is not accepting the Agreement in reliance on any promises, representations, or inducements other than those contained herein.

<u>Section</u> <u>3.18</u> <u>Section 409A</u>. For Participants that are U.S. taxpayers, this Award is not intended to constitute "nonqualified deferred compensation" within the meaning of Section 409A of the Code. However, notwithstanding any other provision of the Plan or the Agreement, if at any time the Committee determines that this Award (or any portion thereof) may be subject to Section 409A of the Code, the Committee shall have the right in its sole discretion (without any obligation to do so or to indemnify the Participant or any other Person for failure to do so) to adopt such amendments to the Plan or the Agreement, or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Committee determines are necessary or appropriate for this Award either to be exempt from the application of Section 409A of the Code or to comply with the requirements of Section 409A of the Code. Any ambiguities herein will be interpreted such that all payments and benefits to U.S. taxpayers will be exempt from, or comply with, the requirements of Section 409A of the Code so that none of the PSUs provided under the Agreement will be subject to the additional tax imposed under Section 409A of the Code. Each payment payable under the Agreement is intended to constitute a separate payment for purposes of Treasury Regulation 1.409A-2(b)(2).

<u>Section</u> <u>3.19</u> <u>Agreement Severable</u>. In the event that any provision of the Agreement is held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of the Agreement.

<u>Section</u> <u>3.20</u> <u>Limitation on the Participant</u><u>'</u><u>s Rights</u>. Participation in the Plan confers no rights or interests upon the Participant other than as herein provided. The Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. The Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the PSUs.

<u>Section</u> <u>3.21</u> <u>Counterparts</u>. The Grant Notice may be executed in one or more counterparts, including by way of any electronic signature, subject to Applicable Law, each of which shall be deemed an original and all of which together shall constitute one instrument.

<u>Section</u> <u>3.22</u> <u>Data Privacy</u>. As a condition of receipt of the Award, and without prejudice to the Participant's acknowledgement of the Company's legitimate interests in processing the Participant's personal data, the Participant explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of personal data as described in this Section 3.22 by and among, as applicable, the Company and its Subsidiaries for the exclusive purpose of implementing, administering and managing the Participant's participation in the Plan. The

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Company and its Subsidiaries may hold certain personal information about the Participant, including but not limited to, the Participant's name, home address and telephone number, date of birth, social security or insurance number or other identification number, salary, nationality, job title(s), any shares held in the Company or any of its Subsidiaries, details of all Awards, in each case, for the purpose of implementing, managing and administering the Plan and Awards (the "<u>Data</u>"). The Company and its Subsidiaries may transfer the Data amongst themselves as necessary for the purpose of implementation, administration and management of the Participant's participation in the Plan, and the Company and its Subsidiaries may each further transfer the Data to any third parties assisting the Company and its Subsidiaries in the implementation, administration and management of the Plan. These recipients may be located in the Participant's country, or elsewhere, and the Participant's country may have different data privacy laws and protections than the recipients' country. Through acceptance of the Award, the Participant authorizes such recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing the Participant's participation in the Plan, including any requisite transfer of such Data as may be required to a broker or other third party with whom the Company or any of its Subsidiaries or the Participant may elect to deposit any Shares. The Data related to the Participant will be held only as long as is necessary to implement, administer, and manage the Participant's participation in the Plan. The Participant may, at any time, view the Data held by the Company with respect to the Participant, request additional information about the storage and processing of the Data with respect to the Participant, recommend any necessary corrections to the Data with respect to the Participant or refuse or withdraw the consents herein in writing, in any case without cost, by contacting the Participant's local human resources representative. The Company may cancel the Participant's ability to participate in the Plan and, in the Committee's absolute discretion, the Participant may forfeit any outstanding Awards if the Participant refuses or withdraws the Participant's consents as described herein. For more information on the consequences of refusal to consent or withdrawal of consent, the Participant may contact their local human resources representative.

\* \* \* \*

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**EXHIBIT B** 

**TO PERFORMANCE STOCK UNIT AWARD GRANT NOTICE** 

**PERFORMANCE CONDITIONS** 

[To be determined]

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**APPENDIX** 

This <u>Appendix</u> includes special terms and conditions that govern the Award if the Participant is based in any country listed below. The information contained herein is general in nature and may not apply to the Participant's particular situation, and the Participant is advised to seek appropriate professional advice as to how the relevant laws in the Participant's country may apply to their situation. If the Participant is a citizen or resident of a country other than the one in which the Participant is currently working and/or residing, transfers employment and/or residency to another country after the date of grant, is a consultant, changes employment status to a consultant position, or is considered a resident of another country for local law purposes, the Company shall, in its discretion, determine the extent to which the special terms and conditions contained herein shall be applicable to the Participant.

**Australia** 

The Agreement, the Award, any offer made under the Plan pursuant to the Agreement and any grant of PSUs are made under Division 1A of Part 7.12 of the *Corporations Act 2001* (Cth).

Subdivision 83A-C of the *Income Tax Assessment Act 1997* (Cth) applies to the Plan.

By accepting the Award, the Participant consents to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to the collection, use and transfer of their sensitive information (including, for example, information like
nationality that could indicate racial or ethnic origin) for the purposes of implementing, administering and managing the Award, this Agreement and their participation in the Plan, in accordance with Section 3.22 of the Agreement and
Section 9(e) of the Plan; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• their personal information being disclosed outside of Australia, including in jurisdictions that may not afford
my personal information the same level of protection as under the laws of Australia,

and the Participant acknowledges that by granting this consent, the Company will not be required to take steps to ensure that overseas recipients comply with the privacy laws of Australia (including the Australian Privacy Principles) and if the recipient breaches the Australian Privacy Principles, the Company will not be accountable to the Participant under the *Privacy Act 1988* (Cth) and the Participant may not necessarily have redress against the recipient in the relevant overseas jurisdiction.

**Canada** 

1. If the Participant is employed in Quebec, then by signing the Agreement, the Participant acknowledges and agrees that the Participant has had access to, and has been able to review and consider, the Agreement and the Plan along with their respective terms and conditions in French prior to freely and voluntarily electing to sign the Agreement and agree to the terms and conditions of the Plan in their English versions. *En signant ci-dessous, le Participant reconnait et convient qu'il a eu accès cette Convention d'option et au Régime, ainsi qu'à leurs modalités et conditions respectives, en français, et qu'il a pu les réviser et les examiner ainsi avant de choisir librement et volontairement de signer cette Convention d'option et d'accepter les modalités et conditions du Régime dans leur version anglaise.*

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2. The reference to "subject to the Participant continuing to be employed by, or providing services to, a Company Group Member through such date" in the section entitled "Vesting" in the Grant Notice shall be read to mean "subject to the Participant's Termination Date not having occurred prior to such date".

3. Paragraph (f) in the definition of "Cause" set forth in Section 2.1 of the Agreement shall be deleted entirely and replaced with the following:

"(f) the Participant has violated state, federal or provincial securities laws or regulations; or"

4. The second sentence of Section 2.1 of the Agreement shall be deleted in its entirety and replaced with the following sentence: "Notwithstanding anything in Section 6(d) of the Plan to the contrary, each PSU represents the right to receive one Share issued from treasury at the times and subject to the conditions set forth herein."

5. The third sentence of Section 2.2 of the Agreement shall be deleted in its entirety and replaced with the following: "Any outstanding PSUs other than the Earned PSUs shall be forfeited as of the date of the determination that the PSUs are not earned, and the Participant waives any claim to damages in respect thereof whether related or attributable to any contractual, civil law or common law termination entitlement or otherwise."

6. The first sentence of Section 2.3(b) of the Agreement shall be deleted in its entirety and replaced with the following: "In the event a Change in Control occurs and the surviving entity or successor corporation (or an Affiliate thereof) assumes or substitutes the PSUs, the PSUs shall remain outstanding and, if the Performance Period shall have not yet ended, eligible to be earned in accordance with the terms herein; *provided* that, if the Committee determines that the performance conditions cannot practicably continue to be measured following such Change in Control, then the Performance Period will be deemed completed and the PSUs will convert to a number of time-vesting restricted stock units ("<u>RSUs</u>") equal to either (as the Committee may determine) (i) such number of PSUs as would be earned based on target level of performance or (ii) such number of PSUs as would be earned based on the actual level of performance, as determined by the Committee as of the Change in Control in accordance with <u>Exhibit B</u>, *provided* that any such conversion shall only be implemented if it complies with the requirements of section 7(1.4) of the *Income Tax Act* (Canada), including section 7(1.4)(c), as amended. The PSUs, or such converted RSUs, shall remain eligible to vest on the Vesting Date (subject to continued employment or services, and subject to acceleration as described in Section 2.4)."

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7. Section 2.4 of the Agreement shall be deleted in its entirety and replaced with the following:

"<u>Section</u> <u>2.4</u> <u>Termination of Employment or Service</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the event the Participant's Termination Date occurs prior to the Vesting Date, except as otherwise provided in Section 2.4(b) or (c), or as set forth in an individual employment or similar agreement between the Participant and the applicable Company Group Member, or as otherwise determined by the Committee in its absolute discretion, or as may otherwise be required to satisfy the minimum requirements of applicable employment or labour standards legislation and, where applicable, the *Civil Code of Québec*, then all unvested PSUs shall be forfeited immediately upon such Termination Date for no consideration, and the Participant waives any claim to damages in respect thereof whether related or attributable to any contractual, civil law or common law termination entitlement or otherwise. For greater certainty, any transfer of the Participant's employment or service from one Company Group Member to another shall not constitute a Termination Date for purposes of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as may otherwise be required to satisfy the minimum requirements of applicable employment or labour standards legislation and, where applicable, the *Civil Code of Québec*, in the event the Participant's Termination Date occurs prior to the Vesting Date by the Company Group without Cause, then subject to the execution and non-revocation of a customary release of claims by the Participant in favor of the Company Group Member within sixty (60) days following the Termination Date, the Participant shall immediately vest in a pro-rated portion of the PSUs (subject to the determination of the achievement of the performance conditions) and the balance of the PSUs shall be immediately forfeited upon such Termination Date for no consideration and the Participant waives any claim to damages in respect thereof whether related or attributable to any contractual, civil law or common law termination entitlement or otherwise. For this purpose, the pro-rated portion shall be calculated by (i) multiplying (x) the total number of Earned PSUs (or the total number of RSUs that converted from the PSUs upon a Change in Control) by (y) a fraction, the numerator of which shall be the number of days in the period commencing on the Grant Date and concluding on the Termination Date, and the denominator of which shall be the number of days in the period commencing on the Grant Date and concluding on the originally scheduled Vesting Date (as set forth on the first page of the Grant Notice) and (ii) rounding the number from the foregoing calculation to the nearest whole number; provided, however, that if the Performance Period has not completed as of the Termination Date, the target number of PSUs will be prorated as of the Termination Date based on the fraction described in the immediately preceding sentence, and such prorated number of PSUs will remain outstanding and eligible to be earned and vest based on the achievement of the performance conditions at the end of the Performance Period in accordance with <u>Exhibit B</u> (with the percentages set forth in <u>Exhibit B</u> applied to such prorated number of PSUs rather than the target number granted). For the avoidance of doubt, any PSUs that remain outstanding and eligible to be earned and vest pursuant to the immediately preceding sentence shall also remain eligible to be treated in accordance with <u>Section</u> <u>2.3(a) or Section</u> <u>2.3(b)</u> hereof, as applicable, in the event that a Change in Control occurs following the Termination Date and if such PSUs remain outstanding immediately prior to such Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event the Participant's Termination Date occurs prior to the Vesting Date due to death or Disability, then in each case, subject to the execution and non-revocation of a customary release of claims by the Participant (or the estate of the Participant if applicable) in favor of the Company Group Member within sixty (60) days following the Termination Date, the Participant's then-outstanding PSUs shall immediately vest in full upon such Termination Date based on deemed target achievement of the performance conditions (or, if the Performance Period has already ended as of such date (including as a result of the surviving entity or successor corporation (or an Affiliate thereof) refusing to assume or substitute the PSUs), the Earned PSUs shall instead immediately vest in full upon such date). For the avoidance of doubt, any PSUs that remain outstanding and eligible to be earned and vest pursuant to the immediately preceding sentence shall also remain eligible to be treated in accordance with <u>Section</u> <u>2.3(a)</u> or <u>Section</u> <u>2.3(b)</u> hereof, as applicable, in the event that a Change in Control occurs following the Termination Date and if such PSUs remain outstanding immediately prior to such Change in Control."

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8. Section 2.7(a) of the Agreement shall be deleted in its entirety and replaced with the following:

"(a) The Company shall have the right and is hereby authorized to withhold, any applicable withholding taxes in respect of the Participant's PSUs, their grant or vesting or any payment or transfer with respect to the Participant's PSUs up to the maximum applicable statutory rates, and to take such action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes. Subject to the Company's compliance with Applicable Law, and unless the Participant has elected at least 30 days in advance of the applicable withholding event to satisfy the applicable withholding obligations by a cash payment from the Participant to the Company (or the Subsidiary last employing the Participant), in any case where a tax is required to be withheld in connection with the delivery of Shares in respect of the Participant's PSUs, by execution of this Agreement, the Participant hereby elects for the tax withholding obligation to be satisfied by the Company withholding a number of Shares otherwise issuable or deliverable to, or that would otherwise be retained by, the Participant, which Shares so withheld have an aggregate Fair Market Value equal to an amount not in excess of the maximum statutorily required withholding liability (or portion thereof) that equals (but does not exceed) the required tax withholding payment."

9. The second sentence of Section 3.3 of the Agreement shall be deleted in its entirety and replaced with the following: "The Participant acknowledges that the PSUs and the Shares subject to the PSUs are subject to adjustment, modification, and termination in certain events as provided in the Agreement and the Plan, including Section 4(d) of the Plan; *provided* that any cancellation of the RSUs for consideration shall be implemented in accordance with section 7 of the *Income Tax Act* (Canada); *provided*, further, that notwithstanding Section 4(e) of the Plan, any awards subject to section 7 of the *Income Tax Act* (Canada) may not be substituted by any Substitute Award, except where such substitution meets the requirements of an exchange of awards pursuant to section 7(1.4) of the *Income Tax Act* (Canada)."<u> </u>

10. Section 3.16 of the Agreement shall be deleted in its entirety and replaced with the following:

<u>"Section</u> <u>3.16</u> <u>Not a Contract of Employment</u>. Nothing in the Agreement or the Plan shall confer upon the Participant any right to serve as an employee or other service provider of any Company Group Member or shall interfere with or restrict in any way the rights of any Company Group Member, which rights are hereby expressly reserved, to discharge or terminate the employment or other services of the Participant, except to the extent (a) expressly provided otherwise in a written agreement between a Company Group Member and the Participant or (b) where such provisions are not consistent with Applicable Law, in which case such Applicable Law shall control. The Plan and Agreement shall not constitute or form part of any contract of employment or other service agreement between any Company Group Member and the Participant."

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11. For the purpose of the Grant Notice and Section 2.4 of the Agreement, the following terms shall have the meanings set forth below:

"<u>Consultant</u>" means: an individual or a consultant company that:

(a) is engaged to provide services on a bona fide basis to the Company or a Subsidiary, other than services provided in relation to a distribution of securities of the Company or a Subsidiary;

(b) provides the services under a written contract with the Company or a Subsidiary; and

(c) spends or will spend a significant amount of time and attention on the affairs and business of the Company or a Subsidiary.

For the purposes of this definition, "consultant company" means, with respect to an individual consultant, either (i) a company of which the individual consultant is an employee or shareholder; or (ii) a partnership of which the individual consultant is an employee or partner.

"<u>Disability</u>" shall have the meaning set out in the Participant's employment or service agreement or, if no such agreement or definition exists, means (i) the Participant is eligible for benefits under the applicable Company Group Member's long-term disability plan, or (ii) the Participant has a physical or mental incapacity that cannot be accommodated and that prevents the Participant from substantially fulfilling the Participant's responsibilities on behalf of the Company Group for a continuous period of twelve (12) consecutive months.

"<u>Termination Date</u>" means:

(a) in the case of an employee, (i) the date on which the employee's employment with the Company Group ceases for any reason, whether lawful or otherwise (including, without limitation, by reason of resignation, retirement, death, frustration of contract, termination for Cause, termination without Cause, Disability or constructive dismissal) without regard to any pay in lieu of notice (whether paid by lump sum or salary continuance), benefits continuation, or other termination or severance payments to which the employee may be entitled, whether pursuant to contract, the common or civil law or otherwise, or (ii) on such later date, if applicable, as may be required to satisfy the minimum requirements of applicable employment or labour standards legislation. For greater certainty, an employee shall not cease to be employed by the Company Group because of a period of vacation, temporary illness, maternity or parental leave, or any other authorized leave of absence. For the avoidance of any doubt, the parties intend to displace any presumption that the Participant is entitled to reasonable notice of termination under common law or civil law in connection with the Plan in excess of any minimum statutory notice under applicable employment or labour standards legislation;

(b) in the case of a Director who is not an employee or Consultant, the date upon which the Participant ceases to hold office; or

(c) in the case of a Consultant, the date that is designated by the Company Group, or by the Consultant, as the date on which the Participant's consulting agreement or arrangement is terminated, without regard to any applicable period of reasonable notice or contractual notice to which the Participant may claim to be entitled under common law, civil law or pursuant to contract in respect of a period which follows the date on which the Participant's consulting agreement or arrangement is terminated as specified in the notice of termination.

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**France** 

The Award shall be deemed to have granted under the French Sub-Plan. The PSUs are subject to the terms and conditions set forth in the Agreement, the Plan, and the French Sub-Plan. In the event of any conflict between the terms in the Agreement and/or the Plan and/or the French Sub-Plan, the terms of the French Sub-Plan shall prevail.

Notwithstanding anything to the contrary stated in the Agreement, the Vesting Date shall be at least two years from the Grant Date. In practice, this means that, before the second anniversary of the Grant Date, save the case of death and Disability mentioned in the French Sub-Plan, the Award will not vest nor be settled and corresponding Shares cannot be sold.

Notwithstanding anything to the contrary in the Plan (including Section 4(d)) or Sections 2.1 and 3.3 of the Agreement, the Board or the Committee may, at its sole discretion, make adjustments to the Award, as well as the number of Shares to be delivered, upon the occurrence of certain transactions, in which case the Company shall take necessary measures in order to preserve the Participant's interests, as provided for in articles L.225-181, L.228-99, R.225-137 to R.225-142, and to R.228-91 of the French Commercial Code with respect to Awards.

If the Awards is modified, adjusted or administered under Sections 2.2, 2.4 and/or 3.3 of the Agreement, and the modification, adjustment or administration contravenes the terms and conditions of the French Sub-Plan, the Award may no longer qualify as PSUs. In the event the Board or the Committee, at its discretion and in accordance with the Agreement, authorizes immediate vesting of the Award or waives restrictions that were imposed regarding sale or transfer of the underlying Shares subject to the Award, the Award may no longer benefit from the French special tax and social security treatment. In the event that the Award no longer qualifies as PSUs, the holder of such Award shall be ultimately liable and responsible for all taxes and/or social security contributions that he or she is legally required to pay in connection with the Award.

By accepting this Award of PSUs, the Participant confirms he/she has read and understood the Agreement, the Plan and the French Sub-Plan, which were provided in the English language. The Participant accepts the terms of those documents accordingly.

**Ireland** 

1. The benefit to the Participant of the Award of PSUs (or of any Shares issued, allotted or transferred to the Participant upon settlement of the PSUs) shall, save as provided for by Applicable Law, (i) not form any part of the Participant's remuneration or count as his or her remuneration for any purpose, (ii) not be pensionable and (iii) not give the Participant any rights or additional rights in respect of any pension scheme operated by a Company Group Member.

2. Section 3.4 of the Agreement is amended and restated as follows:

"<u>Section</u> <u>3.4</u> <u>Malus and Clawback</u>. The Participant acknowledges that the PSUs and the Shares acquired upon settlement of the PSUs shall be subject (including on a retroactive basis) to malus, clawback, recoupment, forfeiture or similar requirements (and such requirements shall be deemed incorporated by reference into the Agreement) to the extent required by the Clawback Policy, the terms of any other malus and clawback policies of the Company Group or Applicable Law (including, without limitation, Section 304 of the Sarbanes-Oxley Act and Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act) or as a result of any failure to comply with the Company's policy on confidential information and proprietary business

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information, or any non-competition, non solicitation, no-hire or other restrictive covenants in the Participant's employment agreement with a Company Group Member or any other agreement between the Participant and a Company Group member, in each case as may be in effect from time to time. Without prejudice to the rights of a Company Group Member to effect clawback, recoupment, forfeiture or similar requirements through one or more other means, the acceptance of this Award constitutes the Participant's instruction and irrevocable authorization to a Company Group Member to withhold through payroll deduction such amount or amounts for which the Participant may become liable (as determined by the Company) arising from clawback, recoupment, forfeiture or similar requirements becoming applicable to the Shares acquired upon settlement of the PSUs."

3. The Participant shall provide to the Company Group Member as soon as reasonably practicable such information as the Company Group Member reasonably requests for the purpose of complying with its obligations (if any) under Section 897B of Taxes Consolidation Act 1997 (as amended) of Ireland.

4. If the Participant is a director or shadow director or secretary of any Company Group Member that is incorporated in Ireland (an "<u>Ireland Subsidiary</u>") the Participant shall notify the Ireland Subsidiary in writing within five business days of the Participant receiving or disposing of a "disclosable interest" (within the meaning of and for the purposes of Chapter 5 of Part 5 of the Companies Act 2014 of Ireland) in the Company, or within five business days of the Participant becoming aware of the event giving rise to the notification requirement, or within five business days of the Participant becoming a director or shadow director or secretary if such a "disclosable interest" exists at the time.

**United Kingdom** 

The Award shall be deemed to have granted under the U.K. Sub-Plan.

The Award shall not be pensionable.

## Exhibit 10.7

**Exhibit 10.7** 

**INDIVIOR PHARMACEUTICALS, INC.** 

**NON-EMPLOYEE DIRECTOR COMPENSATION POLICY** 

Non-employee members of the board of directors (the "***Board***") of Indivior Pharmaceuticals, Inc. (the "***Company***") shall be eligible to receive cash and equity compensation as set forth in this Non-Employee Director Compensation Policy (this "***Policy***"). The cash and equity compensation described in this Policy shall be paid or be made, as applicable, automatically and without further action of the Board, to each member of the Board who is not an employee of the Company or any parent or subsidiary of the Company (each, a "***Non-Employee Director***") who may be eligible to receive such cash or equity compensation, unless such Non-Employee Director declines the receipt of such cash or equity compensation by written notice to the Company. This Policy shall become effective immediately after the commencement of trading of shares of the Company's common stock ("***Common Stock***") on the Global Select Market of The Nasdaq Stock Market LLC (such time, the "***Effective Time***") and shall remain in effect until it is revised or rescinded by further action of the Board. This Policy may be amended, modified or terminated by the Board at any time in its sole discretion. The terms and conditions of this Policy shall supersede any prior cash and/or equity compensation arrangements for service as a member of the Board between the Company and any of its Non-Employee Directors and between any subsidiary of the Company and any of its non-employee directors.

1. <u>Cash Compensation</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Annual Retainers</u>. Each Non-Employee Director shall receive an annual cash retainer of $75,000 for service on the Board except that the Chairperson shall receive an annual cash retainer of $100,000 for service on the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Additional Annual Retainers</u>. In addition, a Non-Employee Director shall receive the following annual cash retainers, as applicable to such Non-Employee Director:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Audit Committee</u>. A Non-Employee Director serving as Chairperson of the Audit Committee shall receive an additional annual cash retainer of $30,000 for such service and a Non-Employee Director serving as a member of the Audit Committee (other than the Chairperson) shall receive an additional annual cash retainer of $15,000 for such service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Compensation Committee</u>. A Non-Employee Director serving as Chairperson of the Compensation Committee shall receive an additional annual cash retainer of $30,000 for such service and a Non-Employee Director serving as a member of the Compensation Committee (other than the Chairperson) shall receive an additional annual cash retainer of $15,000 for such service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <u>Nominating and Corporate Governance Committee</u>. A Non-Employee Director serving as Chairperson of the Nominating and Corporate Governance Committee shall receive an additional annual cash retainer of $20,000 for such service and a Non-Employee Director serving as a member of the Nominating and Corporate Governance<u> </u>Committee (other than the Chairperson) shall receive an additional annual cash retainer of $10,000 for such 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;(iv) <u>Science Committee</u>. A Non-Employee Director serving as Chairperson of the Science Committee shall receive an additional annual cash retainer of $20,000 for such service and a Non-Employee Director serving as a member of the Science Committee (other than the Chairperson) shall receive an additional annual cash retainer of $10,000 for such service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <u>Compliance and Ethics Committee</u>. A Non-Employee Director serving as Chairperson of the Compliance and Ethics Committee shall receive an additional annual cash retainer of $20,000 for such service and a Non-Employee Director serving as a member of the Compliance and Ethics Committee (other than the Chairperson) shall receive an additional annual cash retainer of $10,000 for such service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Payment of Retainers</u>. The annual retainers described in Sections 1(a) and 1(b) shall be earned on a quarterly basis based on a calendar quarter and shall be paid by the Company in arrears not later than the thirtieth (30<sup>th</sup>) day following the end of each calendar quarter. In the event a Non-Employee Director does not serve as a Non-Employee Director, or in the applicable positions described in Section 1(b), for an entire calendar quarter, such Non-Employee Director shall receive a prorated portion of the retainer(s) otherwise payable to such Non-Employee Director for such calendar quarter pursuant to Sections 1(a) and 1(b), with such prorated portion determined by multiplying such otherwise payable retainer(s) by a fraction, the numerator of which is the number of days during which the Non-Employee Director serves as a Non-Employee Director or in the applicable positions described in Section 1(b) during the applicable calendar quarter and the denominator of which is the number of days in the applicable calendar quarter.

2. <u>Equity Compensation</u>. Non-Employee Directors shall be granted the equity awards described below, unless otherwise specified by the Board at the time of grant. The awards described below shall be granted under and shall be subject to the terms and provisions of the Company's 2026 Omnibus Equity Incentive Plan or any other applicable Company equity incentive plan then-maintained by the Company (such plan, as may be amended from time to time, the "***Equity Plan***") ****and shall be granted subject to the execution and delivery of award agreements, including attached exhibits, in substantially the forms previously approved by the Board. All applicable terms of the Equity Plan apply to this Policy as if fully set forth herein, and all equity grants hereunder are subject in all respects to the terms of the Equity Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Listing Awards</u>. Each Non-Employee Director who serves on the Board as of the Effective Time shall be automatically granted, on the first date of effectiveness of the Company's Form S-8 registration statement with respect to the Equity Plan (the "***S-8 Date***"), an award of restricted stock units with respect to a number of shares of the Common Stock that has an aggregate fair value on the date of grant (based on the closing price per share of the Common Stock on the S-8 Date) equal to $125,000, rounded down to the nearest whole share, except with respect to the Chairperson of the Board who shall receive an award of restricted stock units with respect to a number of shares of the Common Stock that has an aggregate fair value on the date of grant (based on the closing price per share of the Common Stock on the S-8 Date) equal to $200,000, rounded down to the nearest whole share. The awards described in this Section 2(a) shall be referred to as the "***Listing Awards***."

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Annual Awards</u>. Each Non-Employee Director (other than the Chairperson) who (i) serves on the Board as of the date of any annual meeting of the Company's stockholders (an "***Annual Meeting***") ****after the Effective Time and (ii) will continue to serve as a Non-Employee Director immediately following such Annual Meeting shall be automatically granted, on the date of such Annual Meeting, an award of restricted stock units with respect to a number of shares of Common Stock that has an aggregate fair value on the date of grant (based on the closing price per share of the Common Stock on the date of grant) equal to $250,000, rounded down to the nearest whole share.

With respect to the Chairperson, provided he or she is a Non-Employee Chairperson, and (i) serves on the Board as of the date of any annual meeting of the Company's stockholders (an "***Annual Meeting***") ****after the Effective Time and (ii) will continue to serve as Chairperson and a Non-Employee Director immediately following such Annual Meeting shall be automatically granted, on the date of such Annual Meeting, an award of restricted stock units with respect to a number of shares of Common Stock that has an aggregate fair value on the date of grant (based on the closing price per share of the Common Stock on the date of grant) equal to $400,000, rounded down to the nearest whole share.

The awards described in this Section 2(b) shall be referred to as the "***Annual Awards***". ****For the avoidance of doubt, a Non-Employee Director elected for the first time to the Board at an Annual Meeting shall receive only an Annual Award in connection with such election and shall not receive any Initial Award (as defined below) on the date of such Annual Meeting as well.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Initial Awards Following Non-Employee Director Election or Appointment</u>. Except as otherwise determined by the Board, each Non-Employee Director whose initial election or appointment (such Non-Employee Director's "***Start Date***") occurs on any date other than the date of an Annual Meeting shall be automatically granted, on such Non-Employee Director's Start Date, an award of restricted stock units with respect to a number of shares of Common Stock that has an aggregate fair value on the date of grant (based on the closing price per share of the Common Stock on the date of grant) equal to the Annual Awards described in Section 2(b) above multiplied by the Initial Award Applicable Percentage (as defined below), rounded down to the nearest whole share. "***Initial Award Applicable Percentage***" shall mean a fraction, the numerator of which is (x) 365 minus (y) the number of days in the period beginning on the date of the Annual Meeting that occurred immediately preceding the Non-Employee Director's Start Date (or, if no such Annual Meeting has occurred, the Effective Time) and ending on the Non-Employee Director's Start Date and the denominator of which is 365. The awards described in this Section 2(c) shall be referred to as the "***Initial Awards***."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Termination of Employment of Employee Directors</u>. Members of the Board who are employees of the Company or any parent or subsidiary of the Company who subsequently terminate their employment with the Company and any parent or subsidiary of the Company but who remain on the Board after such termination from employment will not receive an Initial Award pursuant to Section 2(c) above, but to the extent that they are otherwise eligible, will receive, after termination from employment with the Company and any parent or subsidiary of the Company, Annual Awards as described in Section 2(b) above.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Vesting of Awards Granted to Non-Employee Directors</u>. Each Listing Award, Annual Award and Initial Award shall vest on the earlier of (i) the day immediately preceding the date of the first Annual Meeting following the date of grant and (ii) the first anniversary of the date of grant, subject to the Non-Employee Director continuing in service on the Board through the applicable vesting date; provided that, notwithstanding the foregoing, each such award shall vest upon the Non-Employee Director's termination of service on the Board due to death or disability. Except as otherwise provided in the preceding sentence, no portion of a Listing Award, Annual Award or Initial Award, as applicable, that is unvested at the time of a Non-Employee Director's termination of service on the Board shall become vested thereafter and any such unvested portion shall be forfeited as of the date of such termination of service without any consideration therefor. All of a Non-Employee Director's Listing Awards, Annual Awards and Initial Awards, as applicable, shall vest in full immediately prior to the occurrence of a Change in Control (as defined in the Equity Plan), to the extent outstanding at such time, subject to such Non-Employee Director's continued service on the Board immediately prior to the occurrence of such Change in Control.

\* \* \* \* \* \* \* \* \* \*

Effective: January 26, 2026

## Exhibit 19.1

**Exhibit 19.1** 

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| | |
|:---|:---|
| ![LOGO](g87169g0122075027093.jpg) | <br> **Indivior Pharmaceuticals, Inc. Insider Trading Policy** |

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| | | | |
|:---|:---|:---|:---|
| **Type** | Policy | **Number** | POL.LEG.15209 |
| **Level** | Global | **Version** | 2.0 |
| **Geographic Impact** | Global | **Effective Date** | January 26, 2026 |

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| | |
|:---|:---|
| **1** | **Purpose**  |

---

This Insider Trading Policy describes the standards of Indivior Pharmaceuticals, Inc. and its subsidiaries (the "**Company**") regarding trading in the stock and other securities of the Company while in possession of certain confidential information. This Policy is divided into three parts:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  **<u>Section</u> <u>2 – Scope</u>** provides a layman's explanation of
this Policy and some general rules;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  **<u>Section</u> <u>3 – Covered Persons</u>** prohibits trading in certain
circumstances and applies to <u>all</u> of the Company's directors, officers, employees, independent contractors, any other persons who may have access to material nonpublic information about the Company, and any such person's spouse,
dependents, minor children, and other persons living in their household (collectively, **"Covered Persons"**); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•  **<u>Section</u> <u>4 – Restricted Persons</u>** imposes special additional
trading restrictions on certain persons, including (i) all members of the Company's Board of Directors, (ii) the executive officers of the Company; (iii) certain independent contractors and employees listed in Appendix A; and
(iv) any such person's spouse, dependents, minor children, and other persons living in their household (collectively, **"Restricted Persons"**).

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| | |
|:---|:---|
| **2** | **Scope**  |

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**2.1** **Overview** 

One of the principal purposes of the federal securities laws is to prohibit so-called "insider trading." <u>Simply stated, insider trading isn't about trading as much as it is about</u> *<u>using the Company's information</u>* <u>for your own profit.</u> More specifically, insider trading occurs when a person takes information that the public does not know (called "material nonpublic information") that they learned through their involvement with the Company about the Company, and in some cases its customers, suppliers, or others with which the Company does (or may do) business, and (i) uses that information to make decisions to purchase, sell, give away, or otherwise trade the Company's stock or securities or (ii) provides that information to others outside the Company. The prohibitions against insider trading apply to trades, tips, and recommendations by virtually <u>any</u> person, including all persons associated with the Company, if the information involved is "material" and "nonpublic," as those terms are defined in Section 3.

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Indivior Pharmaceuticals, Inc. Insider Trading Policy Effective Date: January 26 2026 POL.LEG.15209 <br> Version: 2.0

**2.2** **General Rules** 

The following General Rules are defined and governed more specifically by Sections 3 and 4:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Don't trade while in possession of material nonpublic information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• When in doubt about whether you have material nonpublic information, contact the Company Secretary or Chief Legal
Officer to discuss.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you are a director or officer of the Company, you must pre-clear all
trades so we may ensure you do not violate federal law and you make all proper disclosures.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Don't give "tips" or otherwise share nonpublic information with others.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Discussing private Company information with the public, including with the press or analysts, with customers or
suppliers, or online (including social media) could create substantial liability for you and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Don't engage in speculative transactions in the Company's stock, including hedging or pledging
Company stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Don't allow your spouse, dependents, minor children, other persons living in your household, or financial
advisors to violate this Policy.

**2.3** **Applicability** 

This Policy applies to all trading or other transactions in the Company's securities, including common stock, options, and any other securities that the Company may issue, such as preferred stock, notes, bonds, and convertible securities, as well as to derivative securities relating to any of the Company's securities, even if not issued by the Company.

This Policy applies to all of the Company's directors, officers, employees, independent contractors, any other persons who may have access to material nonpublic information about the Company, and any such person's spouse, dependents, minor children, and other persons living in their household (collectively, **"Covered Persons"**). See Section 3.

This Policy imposes special additional trading restrictions on certain persons, including (i) all members of the Company's Board of Directors, (ii) the executive officers of the Company; (iii) certain independent contractors and employees listed in Appendix A; and (iv) any such person's spouse, dependents, minor children, and other persons living in their household (collectively, **"Restricted Persons"**). See Section 4.

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| | |
|:---|:---|
| **3** | **Covered Persons**  |

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This Section 3 applies to all Covered Persons, including all Restricted Persons, and anyone in possession of material nonpublic information. Additional trading restrictions applicable only to Restricted Persons are covered in Section 4.

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Indivior Pharmaceuticals, Inc. Insider Trading Policy Effective Date: January 26 2026 POL.LEG.15209 <br> Version: 2.0

**3.1** **General Policy: No Trading or Causing Trading While in Possession of Material Nonpublic Information** 

3.1.1 No Covered Person may purchase or sell, or offer to purchase or sell, any Company security, regardless of
whether it is issued by the Company, while in possession of material nonpublic information about the Company. (The terms "material" and "nonpublic" are defined in Section 3.2.)

3.1.2 No Covered Person who knows of any material nonpublic information about the Company may communicate that
information to ()"**tip**") any other person whatsoever, including family members and friends, or otherwise disclose such information without the Company's authorization. This includes giving trading advice. *For example, " I am not going to share information with you, but I would sell those shares if I were you … " is not compliant with this Policy.* 

3.1.3 No Covered Person may purchase or sell any security of any other company while in possession of material
nonpublic information about that company that was obtained in the course of their involvement with the Company in breach of a duty of confidentiality to the Company or the other company. No Covered Person who knows of any such material nonpublic
information may tip any other person, including family members and friends, or otherwise disclose such information without the Company's authorization.

3.1.4 For compliance purposes, you should never trade, tip, or recommend securities (or otherwise cause the purchase
or sale of securities) while in possession of information that you have any reason to believe is material and nonpublic unless you first consult with, and obtain the advance approval of, the Company Secretary or Chief Legal Officer.

3.1.5 Restricted Persons must "pre-clear" all trading in
securities of the Company in accordance with the procedures set forth in Section 4.3.

3.1.6 This Policy does not apply to ongoing purchases of the Company's securities in the Employee Stock
Purchase Plan (**"ESPP"**) resulting from an employee's periodic contribution of money to the ESPP pursuant to the election the employee made at the time of their enrollment in the ESPP. This Policy does apply, however, to an
employee's election to participate in the ESPP for any enrollment period and to any sales of the Company's securities purchased pursuant to the ESPP.

**3.2** **Definitions** 

3.2.1 <u>Material.</u> Insider trading restrictions come into play only if the information you possess is
"material." Information is generally regarded as material if it has market significance, that is, if its public dissemination is likely to affect the market price of securities, or if it otherwise is information that a reasonable
investor would want to know before making an investment decision. Material information need not be definitive information; information that something is likely to happen, or even just that it may happen, can be considered material.

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Indivior Pharmaceuticals, Inc. Insider Trading Policy Effective Date: January 26 2026 POL.LEG.15209 <br> Version: 2.0

Examples of information that is reasonably likely to be found "material" in particular situations include (but are not limited to) the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• financial results and projections (including the Company's own expectations regarding its future financial
results or how they differ from analysts' expectations);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• significant changes in the Company's prospects;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• significant write-downs in assets or increases in reserves;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• liquidity problems;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in earnings estimates or unusual gains or losses in major operations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• proposed stock splits or stock dividends;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• extraordinary borrowings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• award or loss of a significant contract;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in debt ratings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in management

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• clinical trial results;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• significant new products or discoveries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• pending FDA or other regulatory action;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• developments regarding significant litigation or government agency investigations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• proposals, plans, negotiations, or agreements, even if preliminary in nature, involving mergers, acquisitions,
divestitures, recapitalizations, strategic alliances, licensing arrangements, distribution agreements, joint ventures, or purchases or sales of substantial assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• offerings of Company securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in the status of any of the Company's activities which may have a significant adverse or favorable
impact.

Either positive or negative information may be material. Material information is not limited to historical facts but may also include projections and forecasts. With respect to a future event, such as a merger, acquisition, or introduction of a new product, the point at which negotiations or product development are determined to be material is determined by balancing the probability that the event will occur against the magnitude of the effect the event would have on a company's operations or stock price should it occur. Thus, information concerning an event that would have a significant effect on the stock price, such as a merger, may be material even if the possibility that the event will occur is relatively small.

When in doubt about whether particular nonpublic information is material, you should presume it is material. **If you are unsure whether information is material, you should consult the Company Secretary or Chief Legal Officer before making any decision to** disclose such information (other than to persons who need to know it) or to trade in or recommend securities to which that information relates.

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3.2.2  **<u>Nonpublic.</u>** Insider trading prohibitions come into play only when you possess information that is
material and "nonpublic." The fact that information has been disclosed to a few members of the public does not make it public for insider trading purposes. To be "public," the information must have been disseminated in a
manner designed to reach investors generally (such as the filing of a report with the SEC, distribution of a press release through a widely disseminated news or wire service, or by other means that are reasonably designed to provide broad public
access), and the market must be given an opportunity to absorb the information. Even after public disclosure of information about the Company, you must wait until after the close of business on the <u>second</u> full trading day after the
information was publicly disclosed before you can treat the information as public.

For clarity, examples of "nonpublic" information may include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• information available to a select group of analysts, brokers, or institutional investors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• undisclosed facts that are the subject of rumors, even if the rumors are widely circulated; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• information that has been entrusted to the Company on a confidential basis until a public announcement of the
information has been made and enough time has elapsed for the market to respond to a public announcement of the information (i.e. <u>two</u> full trading days).

When in doubt about whether particular material information is nonpublic, you should presume it is nonpublic and treat it as confidential. **If you are unsure whether information is nonpublic, you should consult the Company Secretary or Chief Legal Officer.**

**3.3** **Rule 10b5-1 Plans** 

Notwithstanding the general rule, while in possession of material nonpublic information about the Company or during a "Blackout Period" (as defined in Section 4.1), transactions involving Company securities may be conducted pursuant to a properly established trading plan, arrangement, or instruction that complies with Rule 10b5-1 under the Securities Exchange Act of 1934 (a "**10b5-1 Plan**").

3.3.1 To be properly established, a 10b5-1 Plan must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• satisfy the requirements of Rule 10b5-1;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• have been reviewed and approved by the Company Secretary or Chief Legal Officer prior to entry into the 10b5-1 Plan (or, if revised or amended, such revisions or amendments have been reviewed and approved by the Company Secretary or Chief Legal Officer prior to entry into the 10b5-1 Plan);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• have been entered into in good faith by the Covered Person at a time when the Covered Person was not in
possession of material nonpublic information about the Company and was not in a Blackout Period; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• give a third party the discretionary authority to execute such purchases and sales, outside the control of the
Covered Person, so long as such third party does not possess any material nonpublic information about the Company; or explicitly specifies the security or securities to be purchased or sold, the number of shares, the prices and/or dates of
transactions, or other formula(s) describing such transactions.

3.3.2 In order to satisfy Rule 10b5-1, all 10b5-1 Plans are subject to a mandatory cooling off period prior to the date of the first planned sale or other transaction under such 10b5-1 Plan. All 10b5-1 Plans must also adhere to certain prescribed limitations on the number and nature of Plans that may be in effect at a given time (e.g., minimum number of trades requirement, term limitations) and such other 10b5-1 Plan parameters as the Company Secretary deems to be in the best interests of the Company.

3.3.3 If you are a Restricted Persons under Section 16(a) of the Exchange Act (see Appendix A), the Company will
be required to disclose any adoption, modification, or termination of a 10b5-1 Plan by you and certain details relating to such 10b5-1 Plan in the Company's
periodic reports filed with the SEC. Any questions in respect of a 10b5-1 Plan, requests for approval of entry into, modification, or termination of a 10b5-1 Plan, or
the required disclosure relating to such Plans, should be submitted to <u>cosec@indivior.com</u>.

3.3.4 Transactions effected pursuant to a pre-approved and executed 10b5-1 Plan will not be subject to the Company's Blackout Periods or other pre-clearance procedures set forth in Sections 4.1 and 4.3.

**3.4** **Post-Termination Transactions** 

This Policy continues to apply to transactions in the Company's securities even after termination of service to the Company. If an individual is in possession of material nonpublic information when their service terminates, that individual may not trade in the Company's securities until any such material nonpublic information has become public or is no longer material. The pre-clearance procedures for Restricted Persons set forth in Section 4.3 cease to apply to transactions in the Company's securities upon the expiration of any Blackout Period or other Company-imposed trading restrictions applicable at the time of the termination of service.

**3.5** **Violations of Insider Trading Laws** 

Penalties for trading on or communicating material nonpublic information can be severe, both for individuals involved in such unlawful conduct and their employers and supervisors, and may include jail terms, criminal fines, civil penalties, and civil enforcement injunctions. Given the severity of the potential penalties, compliance with this Policy is mandatory.

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A person who violates insider trading laws by engaging in transactions in a company's securities when they have material nonpublic information can be sentenced to a substantial jail term and required to pay a criminal penalty of several times the amount of the profit gained or loss avoided.

Additionally, a person who tips others may also be liable for transactions by the tippees to whom they have disclosed material nonpublic information. Tippers can be subject to the same penalties and sanctions as the tippees, and the SEC has imposed large penalties even when the tipper did not profit from the transaction.

The SEC can also seek substantial civil penalties from any person who, at the time of an insider trading violation, "directly or indirectly controlled the person who committed such violation," which would apply to the Company and/or management and supervisory personnel. These control persons may be held liable for up to the greater of $1 million or three times the amount of the profit gained or loss avoided. Even for violations that result in a small or no profit, the SEC can seek penalties from a company and/or its management and supervisory personnel as control persons.

If you violate this Policy or any federal or state laws governing insider trading, or know of any such violation by any director, officer, employee, or independent contractor of the Company, you must report the violation immediately to your supervisor, the Chief Compliance Officer, the Chief Legal Officer, or the Company Secretary.

Failure to comply with this Policy may result in internal disciplinary action, up to and including termination. It may also mean that you have committed a civil and/or criminal offense.

**3.6** **Inquiries** 

If you have any questions regarding any of the provisions of this Policy, please contact the Company Secretary at <u>cosec@indivior.com</u> or the Chief Legal Officer.

---

| | |
|:---|:---|
| **4** | **Restricted Persons**  |

---

If you are <u>not</u> identified as a Restricted Person and you are <u>not</u> in possession of material nonpublic information, then you are <u>not</u> subject to the restrictions in this Section 4.

**4.1** **Blackout Periods** 

All Restricted Persons are prohibited from trading in the Company's securities during blackout periods as defined below.

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4.1.1  **<u>Quarterly Blackout Periods.</u>** Trading in the Company's securities is prohibited beginning at
the end of the 15<sup>th</sup> day of the last month in each fiscal quarter and ending after the close of trading on the second full trading day following the Company's public release of its quarterly
or annual financial results or other financial information (the "**Quarterly Blackout Period** "). During these periods, Restricted Persons generally possess or are presumed to possess material nonpublic information about the
Company's financial results.

4.1.2  **<u>Other Blackout Periods.</u>** From time to time, other types of material nonpublic information
regarding the Company (such as negotiation of mergers, acquisitions, or dispositions, or new product developments) may be pending and not be publicly disclosed. While such material nonpublic information is pending, the Company may impose **Special Blackout Periods** during which certain Restricted Persons are prohibited from trading in the Company's securities. If the Company imposes a Special Blackout Period, it will notify the Restricted Persons affected.

**4.2** **Trading Window** 

Restricted Persons are permitted to trade in the Company's securities when no blackout period is in effect (a "**Trading Window**"). Generally, this means that Restricted Persons can trade during the period beginning on the day that one Quarterly Blackout Period ends until the next Quarterly Blackout Period begins. However, even during this trading window, any person who is in possession of any material nonpublic information may not trade in the Company's securities until two full trading days following the date that the information has been made publicly available or the information is no longer material. In addition, the Company may close this trading window if it imposes a Special Blackout Period on Restricted Persons until such time as the Special Blackout Period ends.

**4.3** **Pre-clearance of Securities Transactions** 

Subject to the pre-clearance procedures set forth in this Section 4.3, Restricted Persons must immediately report to the Company Secretary all transactions made in the Company's securities by said Restricted Person, their spouse, dependents, minor children, and other persons living in their household, and to transactions by entities over which they exercise control. The Company requires same-day reporting to it of any such transaction.

Pre-clearance from the Company Secretary does not constitute legal advice and does not constitute confirmation that the Restricted Person does not possess material nonpublic information. The Company Secretary is under no obligation to approve any pre-clearance request.

All pre-clearance requests shall be submitted to the Company Secretary at <u>cosec@indivior.com</u> and shall include the information listed in Appendix B.

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4.3.1 Because Restricted Persons are likely to obtain material nonpublic information on a regular basis, the Company
requires all such persons to refrain from trading, even during a Trading Window, without first pre-clearing all transactions in the Company's securities.

4.3.2 Subject to the exemption in Section 4.3.4, no Restricted Person may, directly or indirectly, purchase or
sell (or otherwise make any transfer, gift, pledge, or loan of) any Company security at any time without first obtaining prior written approval from the Company Secretary. These procedures also apply to transactions by such person's spouse,
dependents, minor children, and other persons living in such person's household, and to transactions by entities over which such person exercises control.

4.3.3 The Company Secretary shall record the date each request is received and the date and time each request is
approved or disapproved. Unless revoked, a grant of permission will normally remain valid until the close of trading two business days following the day on which it was granted. If the transaction does not occur during the two-day period, pre-clearance of the transaction must be re-requested.

4.3.4 Pre-clearance is not required for purchases and sales of securities
under an approved 10b5-1 Plan. With respect to any purchase or sale under an approved 10b5-1 Plan, the third-party effecting transactions on behalf of the Covered Person
should be instructed to send duplicate confirmations of all such transactions to the Company Secretary.

**4.4** **Prohibited Transactions** 

Restricted Persons, including any such person's spouse, dependents, minor children, and other persons living in their household, and entities over which such person exercises control, are prohibited from engaging in the following transactions in the Company's securities:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Short-term trading</u>. Restricted Persons who purchase Company securities may not sell any Company securities
of the same class for at least six months after the purchase;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Short sales</u>. Restricted Persons may not sell the Company's securities short;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Options trading</u>. Restricted Persons may not buy or sell puts or calls or other derivative securities on
the Company's securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Trading on margin</u>. Restricted Persons may not hold Company securities in a margin account;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Hedging</u>. Restricted Persons may not enter into hedging or monetization transactions or similar
arrangements with respect to Company securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• <u>Pledging</u>. Restricted Persons may not pledge Company securities as collateral for a loan.

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| | |
|:---|:---|
| **5** | **Appendices**  |

---

**5.1** **Appendix A – Restricted Persons** 

The following persons (or persons holding the offices below) are "Restricted Persons" for purposes of this Policy.

Restricted Persons under Section 16(a) of the Exchange Act:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• All members of the Board of Directors

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Chief Executive Officer

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Chief Financial Officer

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Chief Accounting Officer

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Executive Officers designated as such under Section 16(a) of the Exchange Act

Company Specific Restricted Persons (to the extent not covered by the preceding list):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• All members of the Executive Committee

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• All members of the management SEC Disclosure Committee

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Employees and independent contractors who have been identified as having regular access to material nonpublic
information, including but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Certain Finance and Accounting team members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Certain Manufacturing and Supply team members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Certain Research and Development team members;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Certain Legal and Governance team members; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Certain Sales and Commercial team members.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Administrative Assistants to Restricted Persons, to the extent they have access to material nonpublic information

**5.2** **Appendix B – Pre-Clearance Requests** 

All pre-clearance requests shall be sent to the Company Secretary at <u>cosec@indivior.com</u> and shall include the following information:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your first and last name;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Your contact details *(email address and telephone number)*;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Description of the Company's securities *(e.g. shares, options, etc.)*;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Number of the Company's securities *(if an actual number is not known, provide a maximum amount (e.g. "up to 100 shares" or "up to $1,000 of shares"))*;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Nature of the transaction *(e.g. purchase, sale, option exercise, entry into or amendment or cancellation of a trading plan, etc.)*; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any other relevant details *(if your pre-approval request relates to entry into or amendment or cancellation of a trading plan, provide full details of the plan or attach a copy of its terms)*.

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Your pre-clearance request shall also indicate your confirmation and agreement with the following statements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the information included in your request is accurate and complete;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• you are not in possession of material nonpublic information relating to the Company or the Company's
securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• if your pre-approval request is granted, you will complete your
transaction as soon as possible and in any event within two business days, or re-seek pre-clearance; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• if you become aware that you are in possession of material nonpublic information before transacting, you will
inform the Company Secretary and refrain from completing the transaction.

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| | |
|:---|:---|
| **6** | **Revision History**  |

---

---

| | | |
|:---|:---|:---|
| **Version** | **Author** | **Summary of Changes** |
| 1 | Alice Givens | Initial Policy |
| 2 | Alice Givens | Changed Company name from Indivior PLC to Indivior Pharmaceuticals, Inc., effective upon redomicile to US |

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## Ex-99

**Exhibit 97.1** 

**INDIVIOR PHARMACEUTICALS, INC.** 

**EXECUTIVE COMPENSATION CLAWBACK POLICY** 

**1.** **Purpose.** 

The purpose of this Policy is to set out the circumstances under which Executive Officers of the Company will be required to repay or return certain Excess Awarded Compensation to the Group to comply with the U.S. Clawback Rule and the U.S. Listing Rule.

**2.** **Administration.** 

This Policy shall be administered by the Committee. The Committee is authorized to interpret and construe this Policy and to make all determinations necessary, appropriate, or advisable for the administration of this Policy. Any determinations made by the Committee shall be final, conclusive and binding on all interested parties.

**3.** **Recovery of Excess Awarded Compensation.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) *Recovery of Excess Awarded Compensation* a. . **  If there is an Accounting Restatement, the Committee
shall reasonably promptly determine the amount of any Excess Awarded Compensation for each Covered Executive Officer in connection with such Accounting Restatement and then notify each Covered Executive Officer in writing of the amount of Excess
Awarded Compensation and a demand for repayment or return, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) *Forms of Recovery a.* . The Committee shall determine, in its sole discretion, the method(s)
for recovering any Excess Awarded Compensation, which may include: (i) requiring cash reimbursement; (ii) seeking recovery or forfeiture of any gain realized on the vesting, exercise, settlement, sale, transfer or other disposition of any
equity-based awards; (iii) offsetting the amount from any compensation otherwise owed by the Company to the applicable Covered Executive Officer; (iv) reducing or cancelling outstanding vested or unvested equity awards; or (v) taking
any other remedial and recovery action permitted by law, as determined by the Committee. The Group may not accept less than the amount of Excess Awarded Compensation in satisfaction of a Covered Executive Officer's obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) *Executive Officer's Failure to Repay* a. . If a Covered Executive Officer fails to repay any portion
of Excess Awarded Compensation to the Group when due, the Company shall, or shall cause another member of the Group to, take all actions reasonable and appropriate to recover such Excess Awarded Compensation from the applicable Covered Executive
Officer (including suing for repayment and/or enforcing such Covered Executive Officer's obligation to make payment through the reduction or cancellation of outstanding and future compensation). The applicable Covered Executive Officer shall
be required to reimburse the Group for any and all expenses reasonably incurred (including legal fees) by the Group in recovering such Excess Awarded Compensation.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) *No Indemnification* e) . No member of the Group shall be permitted to indemnify any Covered Executive
Officer against: (i) the loss of any Excess Awarded Compensation that is repaid, returned or recovered pursuant to the terms of this Policy; or (ii) any claims relating to the Company's enforcement of its rights under this Policy
(including, for the avoidance of doubt, any advancement of costs related to such enforcement). Further, no member of the Group shall enter into any agreement that exempts any Performance-Based Compensation from the application of this Policy or that
waives the Company's right to recovery of any Excess Awarded Compensation and this Policy shall supersede any such agreement (whether entered into before, on or after the Effective Date).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) *Exceptions to Recovery a.*. Notwithstanding anything in this Policy to the contrary, the Company
shall not be required to take the actions contemplated by Section b) above if the following conditions are met and the Committee determines that recovery would be impracticable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. The direct expenses paid to a third party to assist in enforcing the Policy against a Covered Executive Officer
would exceed the amount to be recovered, after the Company has made a reasonable attempt to recover the applicable Excess Awarded Compensation, and the Committee has documented such attempt(s) and provided such documentation to the U.S. Exchange;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Recovery would violate the home country law of the Company, where that law was adopted prior to
November 28, 2022, provided that, before determining that it would be impracticable to recover any amount of Excess Awarded Compensation based on violation of home country law, the Company has obtained an opinion of home country counsel,
acceptable to the U.S. Exchange, that recovery would result in such a violation and a copy of the opinion is provided to the U.S. Exchange; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Recovery would likely cause an otherwise tax-qualified retirement plan,
under which benefits are broadly available to employees of any member of the Group, to fail to meet the U.S. requirements of 26 U.S.C 401(a)(13), and the regulations thereunder, or 26 U.S.C. 411(a), and the regulations thereunder.

**4.** **Amendment and Termination.** 

The Board shall amend this Policy as it deems necessary, including as and when it determines that it is legally required by any U.S. federal securities laws (including the U.S. Clawback Rule), the SEC Rule or the U.S. Listing Rule. The Board may terminate this Policy at any time. Notwithstanding anything in this Section 4 to the contrary, no amendment or termination of this Policy shall be effective if such amendment or termination would (after taking into account any actions taken by the Company contemporaneously with such amendment or termination) cause the Company to violate any U.S. federal securities laws (including the U.S. Clawback Rule), the SEC Rule or the U.S. Listing Rule.

**5.** **Condition of future awards.** 

The Committee may require that any employment agreement, equity award agreement, or any other agreement entered into on or after the Effective Date shall, as a condition to the grant of any benefits, require an Executive Officer to agree to abide by the terms of this Policy.

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**6.** **Filing Requirements.** 

The Company shall file all relevant disclosures with respect to this Policy in accordance with the requirements of the U.S. federal securities laws, including relevant disclosures required by SEC filings.

**7.** **Non-Exclusivity.** 

Any right of recoupment under this Policy is in addition to, and not in lieu of, any other remedies or rights of recoupment that may be available to any member of the Group under applicable law, regulation or rule or pursuant to the terms of any similar policy in any employment contract, service agreement, equity award agreement, or similar agreement and any other legal remedies available to the Group.

**8.** **Successors.** 

This Policy shall be binding and enforceable against all Covered Executive Officers and their beneficiaries, heirs, executors, administrators or other legal representatives.

**9.** **Governing Law and Jurisdiction.** 

This Policy and any non-contractual obligations arising out of or in connection with this Policy shall be governed by, and interpreted in accordance with, the laws of the Commonwealth of Virginia, excluding any choice of law rules or principles that may direct the application of the laws of another jurisdiction. All actions arising out of or relating to this Policy shall be heard and determined exclusively in the courts of the Commonwealth of Virginia, if such courts decline to exercise jurisdiction or if subject matter jurisdiction over the matter that is the subject of any such legal action or proceeding is vested exclusively in the U.S. federal courts, the Eastern District Court of Virginia.

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**Definitions** 

***Accounting Restatement*** means an accounting restatement: (i) due to the material non-compliance of the Company with any financial reporting requirement under applicable securities laws, including any required accounting restatement to correct an error in previously issued financial statements of the Company that is material to the previously issued financial statements of the Company; or (ii) that corrects an error that is not material to previously issued financial statements of the Company, but would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period;

***Board*** means the board of directors of the Company or a duly authorized committee of it which may include the Committee;

***Committee*** means the Compensation Committee of the Board or such other appropriately constituted committee;

***Company*** means Indivior Pharmaceuticals, Inc., a Delaware corporation;

***Covered Executive Officer*** means, with respect to any Performance-Based Compensation, each current and former Executive Officer who serves, or served, as an Executive Officer at any time during the performance period in respect of which such Performance-Based Compensation is Received by such Executive Officer;

***Covered Period*** means, with respect to any Accounting Restatement, the three completed Financial Years of the Company immediately preceding the Restatement Date and any Transition Period of less than nine months within or immediately following those three completed Financial Years;

***Effective Date*** means January 26, 2026;

***Excess Awarded Compensation*** means, with respect to a Covered Executive Officer, the gross amount of Performance-Based Compensation Received by that Covered Executive Officer during a Covered Period that exceeds the amount of Performance-Based Compensation that the Covered Executive Officer would have Received had it been determined based on the Accounting Restatement; provided that, for Performance-Based Compensation that is based on or related to the Company's share price or total shareholder return where the amount of Excess Awarded Compensation is not subject to mathematical recalculation directly from information in the applicable Accounting Restatement, the amount that would have been Received shall be determined by the Committee based on a reasonable estimate of the effect of the Accounting Restatement on the share price or total shareholder return, as applicable, upon which the Performance-Based Compensation was Received (in which case, the Company shall maintain documentation of such determination of that reasonable estimate and provide such documentation to the U.S. Exchange). Notwithstanding this, compensation amounts shall only be considered "Excess Awarded Compensation" for the purposes of the Policy if such compensation is Received: (i) while the Company has a class of securities listed on a U.S. securities exchange or a U.S. securities association; and (ii) on or after October 2, 2023;

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***Executive Officer*** means the Company's president, principal financial officer, principal accounting officer (or if there is no such accounting officer, the controller), any vice president of the Company in charge of a principal business unit, division, or function (such as sales, administration, or finance), any other officer who performs a policy-making function, or any other person who performs similar policy-making functions for the Company. Executive officers of the Company's parent(s) or subsidiaries shall be deemed executive officers of the Company if they perform such policy-making functions for the Company;

***Financial Reporting Measure*** means any measure that is determined and presented in accordance with the accounting principles used in preparing the Company's financial statements, and any other measure that is derived wholly or in part from such measure (in each case, regardless of whether such measure is presented within the Company's financial statements or included in a filing with the SEC);

***Financial Year*** means the Company's financial year; provided that a Transition Period between the last day of the Company's previous financial year end and the first day of its new financial year that comprises a period of nine to twelve months will be deemed a completed financial year;

***Group*** means the Company, together with each of its direct and indirect parents and subsidiaries and member of the Group shall be construed accordingly;

***Performance-Based Compensation*** means any compensation (whether cash or equity-based) that is granted, earned, or vested based wholly or in part upon the attainment of a Financial Reporting Measure, and may include, but shall not be limited to, performance bonuses, commissions, or long-term incentive awards such as share options, share appreciation rights, restricted shares, restricted share units, performance shares, performance share units or other equity-based awards, whether or not granted under the Company's equity incentive plans. For the avoidance of doubt, Performance-Based Compensation does not include any compensation to the extent that it is: (i) granted, earned, or vested exclusively upon completion of a specified employment period, without any performance condition; (ii) discretionary; or (iii) based on subjective goals or goals that do not constitute Financial Reporting Measures;

***Policy*** means this Indivior Pharmaceuticals, Inc. Executive Compensation Clawback Policy, as may be amended from time to time;

***Received*** means, with respect to Performance-Based Compensation, the date of deemed receipt, and for these purposes, Performance-Based Compensation shall be deemed Received in the Financial Year during which the applicable Financial Reporting Measure is attained, even if payment or grant of the Performance-Based Compensation occurs after the end of that period;

***Restatement Date*** means the earlier of: (i) the date that the Board or an officer or officers of the Company authorized to take such action if Board action is not required, concludes, or reasonably should have concluded, that the Company is required to prepare an Accounting Restatement; or (ii) the date a court, regulator, or other legally authorized body directs the Company to prepare an Accounting Restatement;

***SEC*** means the U.S. Securities and Exchange Commission;

***SEC Rule*** means the rules, regulations, orders, statements and interpretations published or issued by the SEC, as amended, that implement Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010;

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***Transition Period*** means any transition period that results from a change in the Company's Financial Year within or immediately following the three completed Financial Years immediately preceding the Restatement Date;

***U.S. Clawback Rule*** means Section 10D of the U.S. Exchange Act and the rules and regulations pursuant to it, each as may be amended from time to time;

***U.S. Exchange*** means mean The Nasdaq Stock Market;

***U.S. Exchange Act*** means the U.S. Securities Exchange Act of 1934, as amended; and

***U.S. Listing Rule*** means Listing Rule 5608, as promulgated by The Nasdaq Stock Market LLC, as such rule may be amended from time to time.

## Exhibit 99.1

**Exhibit 99.1** 

**<u>FIRST AMENDMENT TO</u>**

**<u>NOTE PURCHASE AGREEMENT</u>**

**THIS FIRST AMENDMENT TO NOTE PURCHASE AGREEMENT**, dated as of January 21, 2026 (this "<u>Amendment</u>"), is made by and among RBP Global Holdings Limited, a limited company organized under the laws of England and Wales (the "<u>Issuer</u>"), Piper Sandler Finance LLC in its capacities as an administrative agent and collateral agent for the Holders as defined in the Note Purchase Agreement referred to below (in such capacities, the "<u>Agent</u>"), and the Holders party hereto constituting the Required Holders.

**RECITALS** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Issuer is party to that certain Note Purchase Agreement, dated as of November 4, 2024 (as affected by that certain Limited Consent No. 1 to Note Purchase Agreement, dated as of September 24, 2025 (the "<u>Limited Consent</u>"), and as the same may be further amended, restated, amended and restated, supplemented, consented to or otherwise modified from time to time, the "<u>Note Purchase Agreement</u>"), by and among itself, Indivior Global Holdings Limited, a limited company organized under the laws of England and Wales ("<u>Holdings</u>"), the other Persons from time to time party thereto as Note Parties, the Agent, and the Purchasers identified on Schedule 1.01(a) thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Pursuant to the Limited Consent, the Agent and the Required Holders consented to the Specified Change of Control (as defined therein) whereby (i) Indivior Pharmaceuticals, Inc., a Delaware corporation ("<u>TopCo</u>"), will become the ultimate parent company of Indivior PLC, a public company limited by shares incorporated under the laws of England and Wales ("<u>Indivior UK</u>") and its subsidiaries pursuant to a court-approved scheme of arrangement under Part 26 of the UK Companies Act 2006 (the "<u>Scheme of Arrangement</u>") as part of Indivior UK's previously announced intention to change its corporate domicile to the United States (the "<u>U.S. Domestication</u>"), (ii) pursuant to the Scheme of Arrangement, each ordinary share in the capital of Indivior UK will be cancelled in exchange for one share of common stock, par value $0.001 per share, of Indivior U.S., and (iii) after the close of market trading on January 23, 2026, the Scheme of Arrangement will become effective and binding on all shareholders of Indivior UK, and Indivior UK became a wholly-owned subsidiary of Indivior U.S., thereby completing the U.S. Domestication (the "<u>U.S. Domestication Effective Date</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. In connection with the transactions referenced in <u>Paragraph B</u> above, the Issuer has requested that the Note Purchase Agreement be amended to, among other things, (i) reflect that financial statements, the financial position, the results of operation, cash flows and other financial matters will be reported at TopCo and its Subsidiaries and (ii) make certain other changes to the Note Purchase Agreement.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Defined Terms</u>. Capitalized terms used but not otherwise defined herein have the respective meanings given to them in the Amended Note Purchase Agreement (defined herein).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Amendments to Note Purchase Agreement</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Conformed Note Purchase Agreement</u>. Subject to the satisfaction or waiver of the conditions set forth in <u>Section</u> <u>3</u> hereof, on the First Amendment Effective Date (as defined below), the Note Purchase Agreement is hereby amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the bold, double-underlined text (indicated textually in the same manner as the following example: **<u>double-underlined text</u>**) as set forth in the conformed copy of the Note Purchase Agreement attached hereto as <u>Exhibit A</u> (the Note Purchase Agreement, as amended, the "<u>Amended Note Purchase Agreement</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Compliance Certificate</u>. Exhibit C (Form of Compliance Certificate) of the Note Purchase Agreement is hereby replaced in its entirety with <u>Exhibit B</u> attached hereto. From and after the First Amendment Effective Date, all references in the Note Documents to the Compliance Certificate shall be deemed to refer to <u>Exhibit B</u> attached hereto

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Conditions to Effectiveness</u>. This Amendment shall become effective (x) on and as of the date on which the conditions set forth below have been satisfied or waived by the Required Holders (the "<u>First Amendment Effective Date</u>"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Agent shall have received counterparts of the Amendment duly executed by the Issuer, the Required Holders and the Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The representations and warranties contained in <u>Section</u> <u>4</u> hereof shall be true and correct;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the U.S. Domestication Effective Date shall have occurred;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) no Default or Event of Default shall have occurred or be continuing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Agent and the Required Holders shall have received payment of all fees and expenses (including legal fees) to the extent invoiced at least one (1) Business Day prior to the First Amendment Effective Date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the Agent and the Required Holders shall have received, within a reasonable period of time prior to the First Amendment Effective Date, all documentation and other information with respect to the Issuer required under applicable "know your customer", "beneficial ownership" and anti-money laundering rules and regulations, including the USA Patriot Act, that has been reasonably requested by the Agent in writing within a reasonable period of time prior to the First Amendment Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Representations and Warranties</u>. In order to induce the Agent and the Required Holders to enter into this Amendment, the Issuer hereby represents and warrants to the Agent and the Required Holders as follows: (a) the representations and warranties of the Note Parties contained in this Amendment, the Amended Note Purchase Agreement and in the other Note Documents are true and correct in all material respects (without duplication of any materiality qualifier contained therein) on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and

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correct in all material respects (without duplication of any materiality qualifier contained therein) as of such earlier date, (b) the execution, delivery and performance of this Amendment is within the Issuer's organizational power, have been duly authorized by all necessary organizational action and this Amendment constitutes a legal, valid and binding obligation of the Issuer, enforceable in accordance with its terms, subject to the Legal Reservations and (c) as of the First Amendment Effective Date, no Default or Event of Default has occurred and is continuing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Reaffirmation of Note Documents</u>. Except as hereby specifically amended, modified or supplemented, the Note Purchase Agreement and all other Note Documents are hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to their respective terms. Each Note Party hereby ratifies and reaffirms the grant of security interests and liens and guarantees by the Note Parties under the Note Documents. The validity and enforceability of the appointment of the Agent as proxy and attorney-in-fact under the Note Documents is ratified and reaffirmed as of the date hereof, and each Note Party reappoints the Agent as its proxy and attorney-in-fact in accordance with the terms of the applicable Note Documents, which appointment is **IRREVOCABLE** and coupled with an interest until the payment in full of the Obligations, for the purpose of carrying out the provisions of the Note Documents, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Counterparts; Integration; Effectiveness</u>. This Amendment may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Amendment shall constitute the entire agreement among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Delivery of an executed counterpart of a signature page to this Amendment by facsimile or by email as a ".pdf" or ".tif" attachment shall be effective as delivery of a manually executed counterpart of this Amendment. The words "execution," "execute," "signed," "signature," and words of like import in or related to this Amendment shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based 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; provided that, notwithstanding anything contained herein to the contrary, the Agent is under no obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Agent pursuant to procedures approved by it.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Severability</u>. To the extent permitted by law, any provision of this Amendment held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions thereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>GOVERNING LAW</u>. THIS AMENDMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AMENDMENT, WHETHER IN TORT, CONTRACT (AT LAW OR IN EQUITY) OR OTHERWISE, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>WAIVER OF JURY TRIAL</u>. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY) DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY HERETO (a) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HERETO 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 BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS **SECTION 8**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Headings</u>. Section headings used herein are for convenience of reference only, are not part of this Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Amendment. This Amendment shall be a Note Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>References</u>. From and after the First Amendment Effective Date, each reference in the Note Purchase Agreement to "this Agreement," "hereunder," "hereof," "herein" or words of like import, and each reference to the "Note Purchase Agreement" " "thereunder," "thereof," "therein" or words of like import in any other Note Document, shall mean and be a reference to the Amended Note Purchase Agreement

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Successors and Assigns</u>. This Amendment shall be binding upon and inure to the benefit of the Issuer and the Agent and their respective successors and assignees.

[signature pages follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first written above.

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| | |
|:---|:---|
| **ISSUER:** | **ISSUER:** |
| RBP GLOBAL HOLDINGS LIMITED | RBP GLOBAL HOLDINGS LIMITED |
|  By: | /s/ Jerry Barbato |
| Name: | Jerry Barbato |
| Title: | Director |

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[Signatures Continue on Next Page]

[Signature Page to First Amendment to Note Purchase Agreement]

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| | |
|:---|:---|
| **AGENT:** | **AGENT:** |
|  PIPER SANDLER FINANCE LLC, as Agent | PIPER SANDLER FINANCE LLC, as Agent |
|  By: | /s/ James D. Chiraelli |
| Name: | James D. Chiraelli |
| Title: | Chief Operating Officer |

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[Signatures Continue on Next Page]

[Signature Page to First Amendment to Note Purchase Agreement]

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| | |
|:---|:---|
|  **REQUIRED HOLDERS:** | **REQUIRED HOLDERS:** |
|  BRICKYARD DIRECT (SLF) HOLDINGS A, L.P. | BRICKYARD DIRECT (SLF) HOLDINGS A, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
| BRICKYARD DIRECT LENDING FUND (SLF), L.P. | BRICKYARD DIRECT LENDING FUND (SLF), L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  CACTUS DIRECT HOLDINGS, L.P. | CACTUS DIRECT HOLDINGS, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  CACTUS DIRECT LENDING FUND, L.P. | CACTUS DIRECT LENDING FUND, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |

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[Signature Page to First Amendment to Note Purchase Agreement]

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| | |
|:---|:---|
|  CST SPECIALTY HOLDINGS, L.P. | CST SPECIALTY HOLDINGS, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
| CST SPECIALTY LOAN FUND, L.P. | CST SPECIALTY LOAN FUND, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  HALITE 2024 DIRECT (JERSEY) LIMITED | HALITE 2024 DIRECT (JERSEY) LIMITED |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  HOUSTON CASUALTY COMPANY | HOUSTON CASUALTY COMPANY |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |

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[Signature Page to First Amendment to Note Purchase Agreement]

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| | |
|:---|:---|
| HPS BLACK KNIGHT 1922 SPECIALTY LOAN FUND, LLC | HPS BLACK KNIGHT 1922 SPECIALTY LOAN FUND, LLC |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
| HPS CORPORATE CAPITAL SOLUTIONS FUND | HPS CORPORATE CAPITAL SOLUTIONS FUND |
| By: HPS Advisors, LLC, its Investment Advisor | By: HPS Advisors, LLC, its Investment Advisor |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  HPS CX-2 SPECIALTY LOAN FUNDING CLO I, LTD. | HPS CX-2 SPECIALTY LOAN FUNDING CLO I, LTD. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  HPS GARDEN PRIVATE CREDIT FUND, L.P. | HPS GARDEN PRIVATE CREDIT FUND, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |

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[Signature Page to First Amendment to Note Purchase Agreement]

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| | |
|:---|:---|
|  HPS OCOEE SPECIALTY LOAN FUND, L.P. | HPS OCOEE SPECIALTY LOAN FUND, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
| HPS SPECIALTY LOAN FUND TX, L.P. | HPS SPECIALTY LOAN FUND TX, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  HPS SPECIALTY LOAN FUND VI, SCSp | HPS SPECIALTY LOAN FUND VI, SCSp |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  HPS SPECIALTY LOAN FUND VI-L, SCSp | HPS SPECIALTY LOAN FUND VI-L, SCSp |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |

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[Signature Page to First Amendment to Note Purchase Agreement]

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| | |
|:---|:---|
|  HUDSON KETTLE CLO 2025, LLC | HUDSON KETTLE CLO 2025, LLC |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
| MORENO STREET DIRECT LENDING FUND, L.P. | MORENO STREET DIRECT LENDING FUND, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  PALISADES CLO, LLC | PALISADES CLO, LLC |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  PHILADELPHIA INDEMNITY INSURANCE COMPANY | PHILADELPHIA INDEMNITY INSURANCE COMPANY |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |

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[Signature Page to First Amendment to Note Purchase Agreement]

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| | |
|:---|:---|
|  PRESIDIO LOAN FUND, L.P. | PRESIDIO LOAN FUND, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
| PRESIDIO LOAN HOLDINGS, L.P. | PRESIDIO LOAN HOLDINGS, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  RED CEDAR FUND 2016, L.P. | RED CEDAR FUND 2016, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  RED CEDAR HOLDINGS B, L.P. | RED CEDAR HOLDINGS B, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |

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[Signature Page to First Amendment to Note Purchase Agreement]

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| | |
|:---|:---|
|  RELIANCE STANDARD LIFE INSURANCE COMPANY | RELIANCE STANDARD LIFE INSURANCE COMPANY |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
| SAFETY NATIONAL CASUALTY CORPORATION | SAFETY NATIONAL CASUALTY CORPORATION |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  SLF CX-2 HOLDINGS, L.P. | SLF CX-2 HOLDINGS, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  SLF TX HOLDINGS, L.P. | SLF TX HOLDINGS, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |

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[Signature Page to First Amendment to Note Purchase Agreement]

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| | |
|:---|:---|
|  SLF VI INTERNATIONAL-L HOLDINGS B, L.P. | SLF VI INTERNATIONAL-L HOLDINGS B, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
| SLF VI-L HOLDINGS B, SCSp | SLF VI-L HOLDINGS B, SCSp |
| By: HPS Investment Partners, LLC, its Portfolio Manager | By: HPS Investment Partners, LLC, its Portfolio Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  SLF VI-L HOLDINGS D, SCSp | SLF VI-L HOLDINGS D, SCSp |
| By: HPS Investment Partners, LLC, its Portfolio Manager | By: HPS Investment Partners, LLC, its Portfolio Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  SLF VI-L US HOLDINGS C, SCSp | SLF VI-L US HOLDINGS C, SCSp |
| By: HPS Investment Partners, LLC, its Portfolio Manager | By: HPS Investment Partners, LLC, its Portfolio Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |

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[Signature Page to First Amendment to Note Purchase Agreement]

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| | |
|:---|:---|
|  SLIF VI HOLDINGS, LLC | SLIF VI HOLDINGS, LLC |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
| SLIF VI-L HOLDINGS D, L.P. | SLIF VI-L HOLDINGS D, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  SLIF VI-L HOLDINGS, LLC | SLIF VI-L HOLDINGS, LLC |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  SLIF VI-L US HOLDINGS C, SCSp | SLIF VI-L US HOLDINGS C, SCSp |
| By: HPS Investment Partners, LLC, its Portfolio Manager | By: HPS Investment Partners, LLC, its Portfolio Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |

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[Signature Page to First Amendment to Note Purchase Agreement]

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| | |
|:---|:---|
|  SPECIALTY LOAN VG FUND, L.P. | SPECIALTY LOAN VG FUND, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
| STAR HOLDINGS A, L.P. | STAR HOLDINGS A, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  SWISS CAPITAL HPS PRIVATE DEBT FUND L.P. | SWISS CAPITAL HPS PRIVATE DEBT FUND L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  T DIRECT LENDING HOLDINGS B, L.P. | T DIRECT LENDING HOLDINGS B, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |

---

[Signature Page to First Amendment to Note Purchase Agreement]

------

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| | |
|:---|:---|
|  T DIRECT LENDING HOLDINGS, L.P. | T DIRECT LENDING HOLDINGS, L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
| TMD-DL HOLDINGS, LLC | TMD-DL HOLDINGS, LLC |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |
|  VG HPS PRIVATE DEBT FUND L.P. | VG HPS PRIVATE DEBT FUND L.P. |
| By: HPS Investment Partners, LLC, its Investment Manager | By: HPS Investment Partners, LLC, its Investment Manager |
|  By: | /s/ Aman Malik |
|  Name: Aman Malik | Name: Aman Malik |
|  Title: Managing Director | Title: Managing Director |

---

[Signature Page to First Amendment to Note Purchase Agreement]

------

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| | |
|:---|:---|
|  CCLF HOLDINGS (D54) LLC | CCLF HOLDINGS (D54) LLC |
|  By: | /s/ Stephen Nesbitt |
|  Name: Stephen Nesbitt<br> Title: President | Name: Stephen Nesbitt<br> Title: President |

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[Signature Page to First Amendment to Note Purchase Agreement]

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**<u>EXHIBIT A</u>**

**<u>Amended Note Purchase Agreement</u>**

[See Attached]

------

**<u>CONFORMED COPY</u>** 

NOTE PURCHASE AGREEMENT

Dated as of November 4, 2024

among

RBP GLOBAL HOLDINGS LIMITED,

as the Issuer,

INDIVIOR GLOBAL HOLDINGS LIMITED,

as Holdings,

THE PERSONS FROM TIME TO TIME PARTY HERETO,

as Notes Parties,

PIPER SANDLER FINANCE LLC,

as Administrative Agent,

and

THE PURCHASERS IDENTIFIED ON SCHEDULE 1.01(A) HERETO

<u>as amended pursuant to the First Amendment to Note Purchase Agreement</u>

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**TABLE OF CONTENTS** 

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| | | |
|:---|:---|:---|
| | | <u><u>Page</u></u> |
| ARTICLE 1 | ARTICLE 1 | ARTICLE 1 |
| DEFINITIONS | DEFINITIONS | DEFINITIONS |
| Section 1.01 | Defined Terms | 1 |
| Section 1.02 | Classification of Notes and Borrowings | 69<u>68</u> |
| Section 1.03 | Terms Generally | 69<u>68</u> |
| Section 1.04 | Accounting Terms; GAAP | 70<u>69</u> |
| Section 1.05 | Effectuation of Transactions | 71<u>70</u> |
| Section 1.06 | Timing of Payment of Performance | 70 |
| Section 1.07 | Exchange Rates; Currency Equivalents | 71 |
| Section 1.08 | Additional Alternative Currencies | 72<u>71</u> |
| Section 1.09 | Times of Day | 71 |
| Section 1.10 | Currency Generally | 72 |
| Section 1.11 | Cashless Rollovers | 72 |
| Section 1.12 | Certain Calculations and Tests | 73 |
| Section 1.13 | Rounding | 74 |
| Section 1.14 | Benchmark Replacement | 74 |
| Section 1.15 | Irish Terms | 75<u>74</u> |
| Section 1.16 | Special Luxembourg Provisions | 75<u>74</u> |
| Section 1.17 | Special Jersey Provisions | 75 |
| ARTICLE 2 | ARTICLE 2 | ARTICLE 2 |
| THE NOTES | THE NOTES | THE NOTES |
| Section 2.01 | Commitments | 76<u>75</u> |
| Section 2.02 | Notes and Borrowings | 76 |
| Section 2.03 | Requests for Borrowings | 76 |
| Section 2.04 | [Reserved] | 78<u>77</u> |
| Section 2.05 | [Reserved] | 78<u>77</u> |
| Section 2.06 | [Reserved] | 78<u>77</u> |
| Section 2.07 | Funding of Borrowings | 77 |
| Section 2.08 | Type; Interest Elections | 79<u>78</u> |
| Section 2.09 | Termination and Reduction of Commitments | 80<u>79</u> |
| Section 2.10 | Repayment of Notes; Evidence of Debt | 81<u>80</u> |
| Section 2.11 | Prepayment of Notes | 82<u>81</u> |
| Section 2.12 | Fees | 86<u>85</u> |
| Section 2.13 | Interest | 86 |
| Section 2.14 | Alternate Rate of Interest | 88 |
| Section 2.15 | Increased Costs | 91<u>90</u> |
| Section 2.16 | Break Funding Payments | 92<u>91</u> |
| Section 2.17 | Taxes | 93<u>92</u> |
| Section 2.18 | Payments Generally; Allocation of Proceeds; Sharing of Payments | 97 |
| Section 2.19 | Mitigation Obligations; Replacement of Holders | 99 |
| Section 2.20 | Illegality | 102<u>0</u> |
| Section 2.21 | Defaulting Holders | 102<u>1</u> |
| Section 2.22 | Incremental Note Issuances | 102 |

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| | | |
|:---|:---|:---|
| Section 2.23 | Issuances of Notes and Variable Note Commitments | 110<u>108</u> |
| Section 2.24 | Representations of the Purchasers | 113<u>1</u> |
| Section 2.25 | AHYDO | 113<u>2</u> |
| ARTICLE 3 | ARTICLE 3 | ARTICLE 3 |
| REPRESENTATIONS AND WARRANTIES | REPRESENTATIONS AND WARRANTIES | REPRESENTATIONS AND WARRANTIES |
| Section 3.01 | Organization; Powers | 114<u>2</u> |
| Section 3.02 | Authorization; Enforceability | 114<u>2</u> |
| Section 3.03 | Governmental Approvals; No Conflicts | 114<u>3</u> |
| Section 3.04 | Financial Condition; No Material Adverse Effect | 114<u>3</u> |
| Section 3.05 | Properties | 115<u>3</u> |
| Section 3.06 | Litigation and Environmental Matters | 115<u>4</u> |
| Section 3.07 | Compliance with Laws | 115<u>4</u> |
| Section 3.08 | Investment Company Status | 116<u>4</u> |
| Section 3.09 | Taxes | 116<u>4</u> |
| Section 3.10 | ERISA | 116<u>4</u> |
| Section 3.11 | Disclosure | 116<u>5</u> |
| Section 3.12 | Solvency | 117<u>5</u> |
| Section 3.13 | Capitalization and Subsidiaries | 117<u>5</u> |
| Section 3.14 | Security Interest in Collateral | 117<u>5</u> |
| Section 3.15 | Labor Disputes | 117<u>6</u> |
| Section 3.16 | Federal Reserve Regulations | 117<u>6</u> |
| Section 3.17 | Use of Proceeds | 118<u>6</u> |
| Section 3.18 | Senior Debt | 118<u>6</u> |
| Section 3.19 | Economic and Trade Sanctions and Anti-Corruption Laws | 118<u>6</u> |
| Section 3.20 | Center of Main Interests and Establishments | 119<u>7</u> |
| Section 3.21 | Pensions | 119<u>7</u> |
| Section 3.22 | Luxembourg Regulatory Matters | 119<u>7</u> |
| ARTICLE 4 | ARTICLE 4 | ARTICLE 4 |
| CONDITIONS | CONDITIONS | CONDITIONS |
| Section 4.01 | Closing Date | 120<u>118</u> |
| Section 4.02 | Each Note Issuance | 122<u>0</u> |
| ARTICLE 5 | ARTICLE 5 | ARTICLE 5 |
| AFFIRMATIVE COVENANTS | AFFIRMATIVE COVENANTS | AFFIRMATIVE COVENANTS |
| Section 5.01 | Financial Statements and Other Reports | 123<u>1</u> |
| Section 5.02 | Existence | 126<u>4</u> |
| Section 5.03 | Payment of Taxes | 126<u>5</u> |
| Section 5.04 | Maintenance of Properties | 126<u>5</u> |
| Section 5.05 | Insurance | 127<u>5</u> |
| Section 5.06 | Inspections | 127<u>5</u> |
| Section 5.07 | Maintenance of Book and Records | 127<u>6</u> |
| Section 5.08 | Compliance with Laws | 128<u>6</u> |
| Section 5.09 | Environmental | 128<u>6</u> |
| Section 5.10 | Designation of Subsidiaries | 129<u>7</u> |
| Section 5.11 | Use of Proceeds | 129<u>8</u> |
| Section 5.12 | Covenant to Guarantee Obligations and Give Security | 130<u>128</u> |

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| | | |
|:---|:---|:---|
| Section 5.13 | Holders Calls | 121<u>9</u> |
| Section 5.14 | Center of Main Interests | 121<u>9</u> |
| Section 5.15 | Further Assurances | 121<u>9</u> |
| Section 5.16 | Certain Post-Closing Events | 132<u>0</u> |
| Section 5.17 | Pensions | 132<u>0</u> |
| Section 5.18 | Financial Assistance | 132<u>0</u> |
| Section 5.19 | Quoted Eurobond Listing | 132<u>0</u> |
| ARTICLE 6 | ARTICLE 6 | ARTICLE 6 |
| NEGATIVE COVENANTS | NEGATIVE COVENANTS | NEGATIVE COVENANTS |
| Section 6.01 | Indebtedness | 133<u>0</u> |
| Section 6.02 | Liens | 138<u>6</u> |
| Section 6.03 | No Further Negative Pledges | 142<u>0</u> |
| Section 6.04 | Restricted Payments; Certain Payments of Indebtedness | 143<u>1</u> |
| Section 6.05 | Restrictions on Subsidiary Distributions | 147<u>5</u> |
| Section 6.06 | Investments | 149<u>6</u> |
| Section 6.07 | Fundamental Changes; Disposition of Assets | 153<u>0</u> |
| Section 6.08 | Sale and Lease-Back Transactions | 156<u>4</u> |
| Section 6.09 | Transactions with Affiliates | 157<u>4</u> |
| Section 6.10 | Conduct of Business | 158<u>6</u> |
| Section 6.11 | Amendments or Waivers of Organizational Documents | 158<u>6</u> |
| Section 6.12 | Amendments of or Waivers with Respect to Certain Debt | 158<u>6</u> |
| Section 6.13 | Fiscal Year | 159<u>6</u> |
| Section 6.14 | Financial Covenants; Curative Equity | 159<u>6</u> |
| Section 6.15 | Holdings Covenant | 160<u>157</u> |
| Section 6.16 | Material Asset Transactions | 160<u>158</u> |
| Section 6.17 | Account Control Agreements | 161<u>158</u> |
| Section 6.18 | Other Obligations | 151<u>9</u> |
| ARTICLE 7 | ARTICLE 7 | ARTICLE 7 |
| EVENTS OF DEFAULT | EVENTS OF DEFAULT | EVENTS OF DEFAULT |
| Section 7.01 | Events of Default | 152<u>9</u> |
| ARTICLE 8 | ARTICLE 8 | ARTICLE 8 |
| THE ADMINISTRATIVE AGENT | THE ADMINISTRATIVE AGENT | THE ADMINISTRATIVE AGENT |
| ARTICLE 9 | ARTICLE 9 | ARTICLE 9 |
| MISCELLANEOUS | MISCELLANEOUS | MISCELLANEOUS |
| Section 9.01 | Notices | 177<u>4</u> |
| Section 9.02 | Waivers; Amendments | 179<u>6</u> |
| Section 9.03 | Expenses; Indemnity | 186<u>2</u> |
| Section 9.04 | Waiver of Claim | 187<u>4</u> |
| Section 9.05 | Successors and Assigns | 187<u>4</u> |
| Section 9.06 | Survival | 196<u>2</u> |
| Section 9.07 | Counterparts; Integration; Effectiveness | 196<u>3</u> |
| Section 9.08 | Severability | 197<u>3</u> |
| Section 9.09 | Right of Setoff | 197<u>3</u> |

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| | | |
|:---|:---|:---|
| Section 9.10 | Governing Law; Jurisdiction; Consent to Service of Process | 197<u>4</u> |
| Section 9.11 | Waiver of Jury Trial | 199<u>5</u> |
| Section 9.12 | Headings | 199<u>5</u> |
| Section 9.13 | Confidentiality | 199<u>5</u> |
| Section 9.14 | No Fiduciary Duty | 200<u>196</u> |
| Section 9.15 | Several Obligations | 200<u>197</u> |
| Section 9.16 | Nonliability of Administrative Agent, Holders and Purchasers | 201<u>197</u> |
| Section 9.17 | USA PATRIOT Act; Beneficial Ownership Regulation Compliance | 201<u>197</u> |
| Section 9.18 | Disclosure | 201<u>197</u> |
| Section 9.19 | Appointment for Perfection | 201<u>197</u> |
| Section 9.20 | Interest Rate Limitation | 201<u>198</u> |
| Section 9.21 | Conflicts | 202<u>198</u> |
| Section 9.22 | Release of Guarantors | 202<u>198</u> |
| Section 9.23 | Judgment Currency | 192<u>9</u> |
| Section 9.24 | Waiver of Sovereign Immunity | 193<u>9</u> |
|  Section 9.25 | Acknowledgement and Consent to Bail-In of Affected Financial Institutions | 193<u>9</u> |
|  Section 9.26 | Acknowledgement Regarding Any Supported QFCs | 204<u>1</u> |

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| | |
|:---|:---|
| SCHEDULES: |  |
| Schedule 1.01(a) | Purchaser Schedule |
| Schedule 1.01(b) | Mortgages |
| Schedule 1.01(c) | Agreed Guarantee and Security Principles |
| Schedule 3.05 | Fee Owned Real Estate Assets |
| Schedule 3.13 | Subsidiaries |
| Schedule 5.16 | Closing Date Post-Closing Deliverables |
| Schedule 6.01 | Existing Indebtedness |
| Schedule 6.02 | Existing Liens |
| Schedule 6.06 | Existing Investments |
| Schedule 6.07 | Certain Dispositions |
| Schedule 9.01 | Holdings' Website Address for Electronic Delivery |
| EXHIBITS: |  |
| Exhibit A-1 | Form of Assignment and Assumption |
| Exhibit A-2 | Form of Affiliated Holder Assignment and Assumption |
| Exhibit B | Form of Borrowing Request |
| Exhibit C | Form of Compliance Certificate |
| Exhibit D | Form of Interest Election Request |
| Exhibit E | Form of Perfection Certificate |
| Exhibit F | Form of Perfection Certificate Supplement |
| Exhibit G | Form of Promissory Note |
| Exhibit H | Form of Global Intercompany Note |
| Exhibit I | Form of Guaranty Agreement |
| Exhibit J | Form of U.S. Security Agreement |
| Exhibit K | Form of Substitute Affiliate Holder Designation Notice |
| Exhibit L-1 | Form of U.S. Tax Compliance Certificate (For Foreign Holders That Are Not Partnerships For U.S. Federal Income Tax Purposes) |
| Exhibit L-2 | Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) |
| Exhibit L-3 | Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) |
| Exhibit L-4 | Form of U.S. Tax Compliance Certificate (For Foreign Holders That Are Partnerships For U.S. Federal Income Tax Purposes) |
| Exhibit M | Form of Solvency Certificate |
| Exhibit N | Form of Pari First Lien Intercreditor Agreement |
| Exhibit O | Form of First Lien/Second Lien Intercreditor Agreement |

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<u>NOTE PURCHASE AGREEMENT</u> 

**NOTE PURCHASE AGREEMENT**, dated as of November 4, 2024 (this "**Agreement**"), by and among RBP Global Holdings Limited, a limited company organized under the laws of England and Wales ("**RBP Global**" or the "**Issuer**"), Holdings, the other Persons from time to time party hereto as Notes Parties, Piper Sandler Finance LLC in its capacities as an administrative agent and collateral agent for the Holders (in its capacities as administrative and collateral agent, the "**Administrative Agent**"), and the Purchasers identified on Schedule 1.01(a) hereto.

The Issuer has requested to issue and sell certain Notes to each of the Purchasers as set forth herein and the Purchasers are willing to purchase such Notes from the Issuer on the terms and subject to the conditions set forth herein. Accordingly, the parties hereto agree as follows:

ARTICLE 1

DEFINITIONS

Section 1.01 <u>Defined Terms</u>. As used in this Agreement, the following terms have the meanings specified below:

"**ABR**", when used in reference to any Note or Borrowing, refers to whether such Note, or the Notes comprising such Borrowing, bear interest at a rate determined by reference to the Alternate Base Rate.

"**ABR Term SOFR Determination Day**" has the meaning assigned to such term in the definition of "Term SOFR".

"**ACH**" means automated clearing house transfers.

"**Additional Agreement**" has the meaning assigned to such term in <u>Article 8</u>.

"**Additional Note Commitments**" means the Additional Term Note Commitments and the Additional Variable Note Commitments.

"**Additional Notes**" means the Additional Variable Notes and the Additional Term Notes.

"**Additional Purchaser**" has the meaning assigned to such term in <u>Section</u> <u>2.22(b)</u>.

"**Additional Term Note Commitments**" means any term note commitment added pursuant to <u>Section</u> <u>2.22</u>, <u>2.23</u> or <u>9.02(c)(i)</u>.

"**Additional Term Notes**" means any term note made pursuant to <u>Section</u> <u>2.22</u>, <u>2.23</u> or <u>9.02(c)(i)</u>.

"**Additional Variable Note Commitments**" means any variable note commitment added pursuant to <u>Section</u> <u>2.22</u>, <u>2.23</u> or <u>9.02(c)(ii)</u>.

"**Additional Variable Notes**" means any Variable Note made hereunder pursuant to <u>Section</u> <u>2.22</u>, <u>2.23</u> or <u>9.02(c)(ii)</u>.

"**Adjusted Term SOFR**" means, for purposes of any calculation, the rate per annum equal to (a) Term SOFR for such calculation plus (b) the Term SOFR Adjustment.

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"**Adjustment Date**" means the first Business Day immediately following the date of delivery of financial statements required to be delivered pursuant to <u>Section</u> <u>5.01(a)</u> or <u>Section</u> <u>5.01(b)</u>, as applicable.

"**Administrative Agent**" has the meaning assigned to such term in the preamble to this Agreement.

"**Administrative Questionnaire**" means an Administrative Questionnaire in a form supplied by the Administrative Agent from time to time.

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

"**Affiliate**" means, as applied to any Person, any other Person directly or indirectly Controlling, Controlled by, or under common Control with, that Person. None of the Administrative Agent, any Holder (other than any Affiliated Holder) or any of their respective Affiliates shall be considered an Affiliate of Holdings or any subsidiary thereof.

"**Affiliated Holder**" means any of Holdings, the Issuer and/or any subsidiary of Holdings.

"**Affiliated Holder Assignment and Assumption**" means an assignment and assumption entered into by a Holder and an Affiliated Holder (with the consent of any party whose consent is required by <u>Section</u> <u>9.05</u>) and accepted by the Administrative Agent in the form of <u>Exhibit</u> <u>A-2</u> or any other form approved by the Administrative Agent and the Issuer.

"**Agent Fee Letter**" means that certain Agent Fee Letter, dated as of the Closing Date, by and among the Issuer and the Administrative Agent.

"**Agent Parties**" has the meaning assigned to such term in <u>Section</u> <u>9.01(d)</u>.

"**Aggregate Cap**" means the aggregate amount of all amounts added back, adjusted and/or not deducted pursuant to the Aggregate Cap Adjustments, shall not exceed 25% of Consolidated Adjusted EBITDA (calculated prior to giving effect to any such Aggregate Cap Adjustments) in the aggregate for any test period.

"**Aggregate Cap Adjustments**" means clauses (b)(x)(B), (b)(xi), (b)(xv), (b)(xix)(B) and (b)(xx) of the definition of "Consolidated Adjusted EBITDA".

"**Aggregate Variable Note Exposure**" means, at any time, the aggregate amount of the Holders' Variable Note Exposures at such time.

"**Agreed Guarantee and Security Principles**" means the Agreed Guarantee and Security Principles set forth on <u>Schedule 1.01(c)</u>.

"**Agreement**" has the meaning assigned to such term in the preamble to this Agreement.

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"**Agreement Currency**" has the meaning assigned to such in <u>Section</u> <u>9.22</u>.

"**AHYDO Interest Payment**": as defined in <u>Section</u> <u>2.25</u>.

"**Alternate Base Rate**" means, for any day, with respect to Notes denominated in Dollars, a rate per annum equal to the highest of (a) the Federal Funds Effective Rate in effect on such day (<u>provided</u> that if the Federal Funds Effective Rate in effect shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement) *plus* 0.50%, (b) to the extent ascertainable, Adjusted Term SOFR (which rate shall be calculated based upon an Interest Period of one month and shall be determined on a daily basis) *plus* 1.00%, (c) the Prime Rate and (d) the Floor *plus* 1.00%. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or Adjusted Term SOFR, as the case may be, shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or Adjusted Term SOFR, as the case may be.

"**Alternative Currency**" shall mean (i) Sterling, and (ii) each other currency (other than Dollars) that is approved in accordance with <u>Section</u> <u>1.08</u>.

"**Alternative Currency Equivalent**" shall mean, at any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the Administrative Agent at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency in Dollars.

"**Alternative Currency Sublimit**" shall mean (i) with respect to Sterling, $25,000,000 and (ii) with respect to any other Alternative Currency, an amount determined by the Administrative Agent as the time such Alternative Currency is approved in accordance with <u>Section</u> <u>1.08</u>.

"**Applicable Percentage**" means, (a) with respect to any Term Holder for any Class, a percentage equal to a fraction the numerator of which is the aggregate outstanding principal amount of the Notes and unused Additional Note Commitments of such Term Holder for such Class and the denominator of which is the aggregate outstanding principal amount of the Notes and unused Commitments of all Term Holders for such Class and (b) with respect to any Variable Note Holder for any Class, the percentage of the Total Variable Note Commitment for such Class represented by such Holder's Variable Note Commitment for such Class; <u>provided</u> that for purposes of <u>Section</u> <u>2.21</u> and otherwise herein, when there is a Defaulting Holder, any such Defaulting Holder's Variable Note Commitment shall be disregarded in the relevant calculations. In the case of <u>clause (b)</u>, in the event the Variable Note Commitments for any Class shall have expired or been terminated, the Applicable Percentages of any Variable Note Holder of such Class shall be determined on the basis of the Variable Note Exposure of the applicable Variable Note Holders of such Class, giving effect to any assignments and to any Variable Note Holder's status as a Defaulting Holder at the time of determination.

"**Applicable Price**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Applicable Rate**" means, for any day, with respect to any Note, the rate per annum set forth below under the caption "ABR Spread" or "Adjusted Term SOFR Spread", as the case may be, based upon the Total Leverage Ratio as of the last day of the most recently ended Test Period; <u>provided</u> that until the first Adjustment Date following the Closing Date, the "Applicable Rate" shall be the applicable rate per annum set forth below in <u>Category 1</u>:

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| | | | |
|:---|:---|:---|:---|
| **Category** | **Total Leverage Ratio** | **ABR Spread<br>for Notes** | **Adjusted Term<br>SOFR Spread for<br>Notes** |
| 1 | Greater than or equal to 0.50 to 1.00 | 4.25% | 5.25% |
| 2 | Less than 0.50 to 1.00 | 4.00% | 5.00% |

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The Applicable Rate shall be adjusted quarterly on a prospective basis on each Adjustment Date based upon the Total Leverage Ratio in accordance with the tables above; <u>provided</u> that (x) if financial statements are not delivered when required pursuant to <u>Section</u> <u>5.01(a)</u> or <u>(b)</u>, as applicable, the "Applicable Rate" shall be the rate per annum set forth above in <u>Category 1</u> until such financial statements are delivered in compliance with <u>Section</u> <u>5.01(a)</u> or <u>(b)</u>, as applicable and (y) if an Event of Default has occurred and is continuing, the "Applicable Rate" shall be the rate per annum set forth in <u>Category 1</u> until such Event of Default is waived or cured in accordance with this Agreement.

In the event that any financial statement delivered pursuant to <u>Section</u> <u>5.01(a)</u> or <u>(b)</u>, as applicable, is inaccurate, and such inaccuracy, if corrected, would have led to the imposition of a higher Applicable Rate for any period than the Applicable Rate applied for that period, then (A) the Issuer shall immediately deliver to the Administrative Agent a corrected financial statement for that period (the "**Corrected Financials Date**"), (B) the Applicable Rate shall be determined based on the corrected Total Leverage Ratio for that period, and (C) the Issuer shall promptly and in any event within five (5) Business Days (or such later date as may be reasonably agreed by the Administrative Agent) pay to the Administrative Agent (for the account of the Holders that hold the Notes at the time such payment is received, regardless of whether those Holders held the Notes during the relevant period) the accrued additional interest owing as a result of such increased Applicable Rate for that period; provided that, for the avoidance of doubt, such deficiency shall be due and payable in accordance with the foregoing clause (C) (or such later date as may be reasonably agreed by the Administrative Agent), and no Default or Event of Default under <u>Section</u> <u>7.01(a)</u> shall be deemed to have occurred with respect to such deficiency prior to such date. This paragraph shall not limit the rights of the Administrative Agent or the Holders with respect to <u>Section</u> <u>2.13(d)</u> and <u>Article VII</u> hereof.

<u>"**Applicable Reporting Company**" shall mean, (i) with respect to any period ending prior to the First Amendment Effective Date, Indivior PLC, and (ii) with respect to any period ending on or after the First Amendment Effective Date, TopCo.</u> 

"**Applicable Time**" shall mean, with respect to any borrowings and payments in any Alternative Currency, the local time in the place of settlement for such Alternative Currency as may be determined by the Administrative Agent to be necessary for timely settlement on the relevant date in accordance with normal banking procedures in the place of payment.

"**Approved Fund**" means, with respect to any Holder, any Person (other than a natural person) that is engaged in making, purchasing, holding or otherwise investing in commercial loans. notes and similar extensions of credit in the ordinary course of its activities and is administered, advised or managed by (a) such Holder, (b) any Affiliate of such Holder or (c) any entity or any Affiliate of any entity that administers, advises or manages such Holder.

"**Assignment and Assumption**" means an assignment and assumption entered into by a Holder and an Eligible Assignee (with the consent of any party whose consent is required by <u>Section</u> <u>9.05</u>), and accepted by the Administrative Agent in the form of <u>Exhibit</u> <u>A-1</u> or any other form approved by the Administrative Agent.

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"**Auction**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Auction Agent**" means (a) the Administrative Agent or any of its Affiliates or (b) any other financial institution or advisor engaged by the Issuer (whether or not an Affiliate of the Administrative Agent) to act as an arranger in connection with any Auction pursuant to the definition of "Dutch Auction"; *provided* that no Issuer shall 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 no Issuer, nor any of its Affiliates, may act as the Auction Agent.

"**Auction Amount**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Auction Notice**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Auction Party**" has the meaning set forth in the definition of "Dutch Auction".

"**Auction Response Date**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Availability Period**" means, with respect to any Class of Variable Note Commitments, the period from and excluding the date on which such Variable Note Commitments become effective to but excluding the earliest of (a) the date of termination of such Variable Note Commitments pursuant to <u>Section</u> <u>2.09</u>, (b) the date of termination of the Variable Note Commitment of each Variable Note Holder to make Variable Notes and (c) the Variable Note Maturity Date.

"**Available Amount**" means, at any time, an amount equal to, without duplication:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) 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;(i) $37,500,000; *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;(ii) the Cumulative Retained Excess Cash Flow Amount on such date; *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;(iii) the amount of any capital contributions or other proceeds of any issuance of Capital Stock after the Closing Date (other than any amounts (x) constituting an Available Excluded Contribution Amount or an Excluded Debt Contribution or proceeds of an issuance of Disqualified Capital Stock, (y) received from the Issuer or any Restricted Subsidiary or (z) incurred from the proceeds of any loan or advance made pursuant to <u>Section</u> <u>6.06(h)(ii)</u>) received as Cash equity by the Issuer or any of their Restricted Subsidiaries, *plus* the fair market value, as reasonably determined by the Issuer, of Cash Equivalents, marketable securities or other property received by the Issuer or any Restricted Subsidiary as a capital contribution or in return for any issuance of Capital Stock (other than any amounts (x) constituting an Available Excluded Contribution Amount or an Excluded Debt Contribution or proceeds of any issuance of Disqualified Capital Stock or (y) received from the Issuer or any Restricted Subsidiary), in each case, during the period from and including the day immediately following the Closing Date through and including such time; *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;(iv) the aggregate principal amount of any Indebtedness (including any Disqualified Capital Stock) of the Issuer or any Restricted Subsidiary issued after the Closing Date (other than Indebtedness or such Disqualified Capital Stock issued to the Issuer or any Restricted Subsidiary), which has been converted into or exchanged for Capital Stock of the Issuer, any Restricted Subsidiary or any Parent Company that does not constitute Disqualified Capital Stock or an Available Excluded Contribution Amount, together with the fair market value of any Cash Equivalents and the fair market value (as reasonably determined by the Issuer) of any property or assets received by such Issuer or such Restricted Subsidiary upon such exchange or conversion, in each case, during the period from and including the day immediately following the Closing Date through and including such time; *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;(v) to the extent not included in <u>clause (ii)</u> above, the net proceeds received by the Issuer or any Restricted Subsidiary during the period from and including the day immediately following the Closing Date through and including such time in connection with the Disposition to any Person (other than the Issuer or any Restricted Subsidiary) of any Investment made pursuant to <u>Section</u> <u>6.06(r)(i)</u> (in an amount not to exceed the original amount of such Investment); *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;(vi) to the extent not (A) included in <u>clause (ii)</u> above or (B) already reflected as a return of capital with respect to such Investment for purposes of determining the amount of such Investment, the proceeds received by the Issuer or any Restricted Subsidiary during the period from and including the day immediately following the Closing Date through and including such time in connection with cash returns, cash profits, cash distributions and similar cash amounts, including cash principal repayments of loans, in each case received in respect of any Investment made after the Closing Date pursuant to <u>Section</u> <u>6.06(r)(i)</u> (in an amount not to exceed the original amount of such Investment); *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;(vii) an amount equal to the sum of (A) the amount of any Investments by the Issuer or any Restricted Subsidiary pursuant to <u>Section</u> <u>6.06(r)(i)</u> in any Unrestricted Subsidiary (in an amount not to exceed the original amount of such Investment) that has been redesignated as a Restricted Subsidiary or has been merged, consolidated or amalgamated with or into, or is liquidated, wound up or dissolved into, the Issuer or any Restricted Subsidiary and (B) the fair market value (as reasonably determined by the Issuer) of the property or assets of any Unrestricted Subsidiary that have been transferred, conveyed or otherwise distributed (in an amount not to exceed the original amount of the Investment in such Unrestricted Subsidiary pursuant to <u>Section</u> <u>6.06(r)(i)</u>) to the Issuer or any Restricted Subsidiary, in each case, during the period from and including the day immediately following the Closing Date through and including such time; 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;(viii) the amount of any Declined Proceeds; *minus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) an amount equal to the sum of (i) Restricted Payments made pursuant to <u>Section</u> <u>6.04(a)(iii)(A)</u>, *plus* (ii) Restricted Debt Payments made pursuant to <u>Section</u> <u>6.04(b)(vi)(A)</u>, *plus* (iii) Investments made pursuant to <u>Section</u> <u>6.06(r)(i)</u>, in each case, after the Closing Date and prior to such time, or contemporaneously therewith.

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"**Available Excluded Contribution Amount**" means the aggregate amount of Cash or Cash Equivalents or the fair market value of other assets or property (as reasonably determined by the Issuer) received by the Issuer or any Restricted Subsidiary after the Closing Date from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) contributions in respect of Qualified Capital Stock (other than any amounts received from the Issuer or any Restricted Subsidiary), and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the sale of Qualified Capital Stock of the Issuer or any Restricted Subsidiary (other than (x) to the Issuer or any Restricted Subsidiary, (y) pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or (z) with the proceeds of any loan or advance made pursuant to <u>Section</u> <u>6.06(h)(ii)</u>),

in each case, designated as Available Excluded Contribution Amounts pursuant to a certificate of a Responsible Officer on or promptly after the date the relevant capital contribution is made or the relevant proceeds are received, as the case may be, and which are excluded from the calculation of the Available Amount.

"**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).

"**Banking Services**" means each and any of the following bank services provided to any Note Party (a) under any arrangement that is in effect on the Closing Date between any Note Party and a counterparty that is (or is an Affiliate of) the Administrative Agent, any Holder as of the Closing Date or (b) under any arrangement that is entered into after the Closing Date by any Note Party with any counterparty that is (or is an Affiliate of) the Administrative Agent, any Holder at the time such arrangement is entered into: commercial credit cards, stored value cards, purchasing cards, treasury management services, netting services, overdraft protections, check drawing services, automated payment services (including depository, overdraft, controlled disbursement, ACH transactions, return items and interstate depository network services), employee credit card programs, cash pooling services and any arrangements or services similar to any of the foregoing and/or otherwise in connection with Cash management and Deposit Accounts.

"**Banking Services Obligations**" means any and all obligations of any Note Party, whether absolute or contingent and however and whenever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), in connection with Banking Services, in each case, that has been designated to the Administrative Agent in writing by the Issuer as being Banking Services Obligations for the purposes of the Notes Documents, it being understood that each counterparty thereto shall be deemed (A) to appoint the Administrative Agent as its agent under the applicable Notes Documents and (B) to agree to be bound by the provisions of <u>Article 8</u>, <u>Section</u> <u>9.03</u> and <u>Section</u> <u>9.10</u> as if it were a Holder.

"**Bankruptcy Code**" means Title 11 of the United States Code (11 U.S.C. § 101 *et seq*.).

"**Beneficial Ownership Certification**" means a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation.

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"**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 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".

"**Board**" means the Board of Governors of the Federal Reserve System of the U.S.

"**Bona Fide Debt Fund**" means any debt fund, investment vehicle, regulated bank entity or unregulated lending entity that is engaged in making, purchasing, holding or otherwise investing in commercial loans, notes and similar extensions of credit in the ordinary course of business which is managed, sponsored or advised by any Person controlling, controlled by or under common control with (a) any competitor of the Issuer and/or any of its subsidiaries or (b) any Affiliate of such competitor, but with respect to which no personnel involved with any investment in such Person (i) makes, has the right to make or participates with others in making any investment decisions with respect to such debt fund, investment vehicle, regulated bank entity or unregulated lending entity or (ii) has access to any information (other than information that is publicly available) relating to Holdings, the Issuer or their respective subsidiaries, any Parent Company, or any entity that forms a part of any of their respective businesses; it being understood and agreed that the term "Bona Fide Debt Fund" shall not include any Person that is separately identified to the Administrative Agent in accordance with <u>clause (i)</u> of the definition of "Disqualified Institution" or any Affiliate of any such Person that is reasonably identifiable on the basis of such Affiliate's name.

"**Issuer Materials**" shall have the meaning assigned to such term in <u>Section</u> <u>5.01</u>.

"**Borrowing**" means any Notes of the same currency, Type and Class made, converted or continued on the same date and, in the case of SOFR Notes, as to which a single Interest Period is in effect.

"**Borrowing Minimum**" shall mean (i) in the case of Variable Notes denominated in Dollars, $1,000,000, or (ii) in the case of a Variable Note denominated in an Alternative Currency, such minimums as the Administrative Agent shall reasonably require.

"**Borrowing Multiple**" shall mean (i) in the case of Variable Notes denominated in Dollars, $100,000, or (ii) in the case of a Variable Note denominated in an Alternative Currency, such multiple as the Administrative Agent shall reasonably require**.**

"**Borrowing Request**" means a written request by the Issuer for a Borrowing in accordance with <u>Section</u> <u>2.03</u> and substantially in the form attached hereto as <u>Exhibit</u> <u>B</u>.

"**Business Day**" means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City, New York or London, England are authorized or required by law to remain closed; <u>provided</u> that when used in connection with any Borrowing denominated in an Alternative Currency, the term "Business Day" shall also exclude any day on which banks are not open for dealings in Dollar deposits in the principal financial center of the country, if any, of such Alternative Currency.

"**Capital Lease**" means any lease or hire purchase contract, a liability under which would, in accordance with GAAP, be treated as a balance sheet liability (other than a lease or hire purchase contract which would, in accordance with IFRS in force prior to January 1, 2019, have been treated as an operating lease).

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"**Capital Stock**" means any and all shares, interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation), including 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, but excluding, for the avoidance of doubt, any Indebtedness convertible into or exchangeable for any of the foregoing.

"**Cash**" means money, currency or a credit balance in any Deposit Account, in each case determined in accordance with GAAP.

"**Cash Equivalents**" means, as at any date of determination, (a) readily marketable securities (i) issued or directly and unconditionally guaranteed or insured as to interest and principal by the U.S. government or (ii) issued by any agency or instrumentality of the U.S. the obligations of which are backed by the full faith and credit of the U.S., in each case maturing within one year after such date and, in each case, repurchase agreements and reverse repurchase agreements relating thereto; (b) readily marketable direct obligations issued by any state of the U.S. or any political subdivision of any such state or any public instrumentality thereof, in each case maturing within one year after such date and having, at the time of the acquisition thereof, a rating of at least A-2 from S&P or at least P-2 from Moody's (or, if at any time neither S&P nor Moody's shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency) and, in each case, repurchase agreements and reverse repurchase agreements relating thereto; (c) commercial paper maturing no more than one year from the date of creation thereof and having, at the time of the acquisition thereof, a rating of at least A-2 from S&P or at least P-2 from Moody's (or, if at any time neither S&P nor Moody's shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency); (d) deposits, money market deposits, time deposit accounts, certificates of deposit or bankers' acceptances (or similar instruments) maturing within one year after such date and issued or accepted by any Holder or by any bank organized under, or authorized to operate as a bank under, the laws of the U.S., any state thereof or the District of Columbia or any political subdivision thereof and that has capital and surplus of not less than $100,000,000 and, in each case, repurchase agreements and reverse repurchase agreements relating thereto; and (e) shares of any money market mutual fund that has (i) substantially all of its assets invested in the types of investments referred to in <u>clauses (a)</u> through <u>(d)</u> above, (ii) net assets of not less than $250,000,000 and (iii) a rating of at least A-2 from S&P or at least P-2 from Moody's.

In the case of any Investment by any Foreign Subsidiary, "Cash Equivalents" shall also include (x) Investments of the type and maturity described in <u>clauses (a)</u> through <u>(e)</u> above of foreign obligors, which Investments or obligors (or the parent companies thereof) have the ratings described in such clauses or equivalent ratings from comparable foreign rating agencies and (y) other short-term Investments utilized by Foreign Subsidiaries in accordance with normal investment practices for cash management in Investments analogous to the Investments described in <u>clauses (a)</u> through <u>(e)</u> and in this paragraph.

"**Change in Law**" means (a) the adoption of any law, treaty, rule or regulation after the Closing Date, (b) any change in any law, treaty, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the Closing Date or (c) compliance by any Holder (or, for purposes of <u>Section</u> <u>2.15(b)</u>, by any lending office of such Holder or by such Holder's holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the Closing Date (other than any such request, guideline or directive to comply with any law, rule or regulation that was in effect on the Closing Date). For purposes of this definition and <u>Section</u> <u>2.15</u>, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements and directives thereunder or issued in connection therewith or in implementation thereof and (y) all requests, rules, guidelines, requirements or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or U.S. regulatory authorities, in each case pursuant to Basel III, shall in each case described in <u>clauses (a)</u>, <u>(b)</u> and <u>(c)</u> above, be deemed to be a Change in Law, regardless of the date enacted, adopted, issued or implemented.

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"**Change of Control**" means the earliest to occur of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the acquisition by any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act), including any group acting for the purpose of acquiring, holding or disposing of Securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act, but excluding any employee benefit plan and/or Person acting as the trustee, agent or other fiduciary or administrator therefor), of Capital Stock representing more than 35% of the total voting power of all of the outstanding voting stock of Indivior PLC<u>TopCo;</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) occupation of a majority of the seats (other than vacant seats) on the board of directors of Indivior PLC<u>TopCo</u> by persons who (i) were not members of the board of directors of Indivior PLC<u>TopCo</u> on the Closing<u>First Amendment Effective</u> Date and (ii) whose election to the board of directors of Indivior PLC<u>TopCo</u> or whose nomination for election by the stockholders of Indivior PLC<u>TopCo</u> was not approved by a majority of the members of the board of directors of Indivior PLC<u>TopCo</u> then still in office who were either members of the board of directors on the Closing<u>First Amendment Effective</u> Date or whose election or nomination for election was previously so approved;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Issuer ceasing to be a direct or indirect Wholly-Owned Subsidiary of Indivior PLC<u>TopCo;</u> or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any "Change of Control" (or any comparable term) in any document or instrument pertaining to any Indebtedness in excess of the Threshold Amount.

"**Charge**" means any charge, fee, expense, cost, accrual or reserve of any kind.

"**Charged Amounts**" has the meaning assigned to such term in <u>Section</u> <u>9.19</u>.

"**Class**", when used in reference to any Note, Borrowing or Commitment, refers to whether such Note, or the Notes comprising such Borrowing, are Initial Term Notes or other Variable Notes or respective Commitments related thereto or other notes or commitments added as a separate Class pursuant to <u>Section</u> <u>2.22</u>, <u>2.23</u> or <u>9.02(c)</u>.

"**Closing Date**" means November 4, 2024.

"**Code**" means the Internal Revenue Code of 1986, as amended.

"**Collateral**" means any and all property of any Note Party subject (or purported to be subject) to a Lien under any Collateral Document and any and all other property of any Note Party, now existing or hereafter acquired, that is or becomes subject (or purported to be subject) to a Lien pursuant to any Collateral Document to secure the Secured Obligations.

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"**Collateral and Guarantee Requirement**" means, at any time, subject to (x) the applicable limitations set forth in this Agreement and/or any other Notes Document and (y) the time periods (and extensions thereof) set forth in <u>Section</u> <u>5.12</u>, the requirement that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Administrative Agent shall have 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;(ii) (A) in the case of any Person incorporated or organized in the U.S. or otherwise party to the U.S. Security Agreement, each item of Collateral that such Restricted Subsidiary (and each Note Party that holds any Capital Stock in, or Material Debt Instruments issued by, such Restricted Subsidiary, as applicable) is required to deliver under Section 2.02 of the U.S. Security Agreement; (B) in the case of a Person not incorporated or organized in the U.S., evidence that all outstanding Capital Stock of such Person, and all Material Debt Instruments issued by such Person, shall have been pledged pursuant to the Collateral Documents, together with stock powers or other instruments of transfer with respect thereto (as applicable) endorsed in blank (which, in each case, for the avoidance of doubt, shall be delivered within the time periods set forth in Section 5.12(a));

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and (C) in the case of any Lux Note Party, a manager's certificate dated as of the date of the relevant joinder to the Note Guaranty and signed by a manager of the Lux Note Party, certifying the following items: (i) an up-to-date copy of the articles of association of the Lux Note Party; (ii) an electronic true and complete certified excerpt of the Luxembourg Companies Register pertaining to the Lux Note Party dated as of one (1) Business Day prior to such date; (iii) an electronic certified true and complete certificate of non-registration of judgment (*certificat de non-inscription d'une décision judiciaire*) dated as of one (1) Business Day prior to such date issued by the Luxembourg Companies Register and reflecting the situation no more than two Business Days prior to such date certifying that, as of the date of the day immediately preceding such certificate, the Lux Note Party has not been declared bankrupt (*en faillite*), and that it has not applied for general settlement or composition with creditors (*concordat préventif de faillite*), controlled management (*gestion contrôlée*), or reprieve from payment (*sursis de paiement*), judicial or voluntary liquidation (*liquidation judiciaire ou volontaire*), such other proceedings listed at Article 13, items 4 to 8, 11 and 13 of the Luxembourg Act dated December 19, 2002 on the Register of Commerce and Companies, on Accounting and on Annual Accounts of the Companies (as amended from time to time), (and which include foreign court decisions as to *faillite, concordat* or analogous procedures according to the COMI Regulation), (iv) true, complete and up-to-date board resolutions approving the entry by the Lux Note Party into, among others, the relevant Notes Documents; and (v) a true and complete specimen of signatures for each of the directors or authorized signatories having executed for and on behalf of such Lux Note Party respectively the Notes Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Administrative Agent shall have received with respect to any Material Real Estate Assets, a Mortgage and any necessary UCC fixture filing (or any equivalent thereof in any applicable jurisdiction) in respect thereof, in each case together with, to the extent customary and appropriate (as reasonably determined by the Administrative Agent and the Issuer):

&nbsp;&nbsp;&nbsp;&nbsp;&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) evidence that (A) counterparts of such Mortgage have been duly executed, acknowledged and delivered and such Mortgage and any corresponding UCC or equivalent fixture filing are in form suitable for filing or recording in all filing or recording offices that the Administrative Agent may deem reasonably necessary in order to create a valid and subsisting Lien on such Material Real Estate Asset in favor of the Administrative Agent for the benefit of the Secured Parties, (B) such Mortgage and any corresponding UCC or equivalent fixture filings have been duly recorded or filed, as applicable, and (C) all filing and recording taxes and fees have been paid or otherwise provided for in a manner 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;(ii) one or more fully paid policies of title insurance (the "**Mortgage Policies**") in an amount reasonably acceptable to the Administrative Agent (not to exceed the fair market value of the Material Real Estate Asset covered thereby (as reasonably determined by the Issuer)) issued by a nationally recognized title insurance company in the applicable jurisdiction that is reasonably acceptable to the Administrative Agent, insuring the relevant Mortgage as having created a valid subsisting Lien on the real property described therein with the ranking or the priority which it is expressed to have in such Mortgage, subject only to Permitted Liens, together with such endorsements, coinsurance and reinsurance as the Administrative Agent may reasonably request to the extent the same are available in the 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;&nbsp;&nbsp;&nbsp;&nbsp;(iii) customary legal opinions of local counsel for the relevant Note Party in the jurisdiction in which such Material Real Estate Asset is located, and if applicable, in the jurisdiction of formation of the relevant Note Party, in each case as the Administrative Agent may reasonably request;

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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;(iv) surveys and appraisals (if required under the Financial Institutions Reform Recovery and Enforcement Act of 1989, as amended) and "Life-of-Note" (or equivalent "Life-of-Loan") flood certifications and any required borrower or issuer notices under Regulation H (together with evidence of federal flood insurance for any such Flood Hazard Property located in a flood hazard area); <u>provided</u> that the Administrative Agent may in its reasonable discretion accept any such existing survey so long as such existing survey is satisfactory to the title insurance company and enables it to remove the standard survey exception from the applicable Mortgage Policies and provide customary survey and other endorsements as required by clause (ii) 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;(v) such other evidence that all other actions that the Administrative Agent may reasonably request and deem necessary in order to create a valid and subsisting Lien on such Material Real Estate Assets have been taken;

<u>provided</u> that, notwithstanding the foregoing, with respect to any Person not incorporated or organized in the U.S. or the United Kingdom, the requirements of this definition shall be subject to the Agreed Guarantee and Security Principles.

"**Collateral Documents**" means, collectively, (i) the U.S. Security Agreement, (ii) the English Security Documents, (iii) the Lux Security Documents (if any), (iv) each Mortgage, (v) each Notice of Grant of Security Interest in Intellectual Property, (vi) any supplement (or other document or instrument) to any of the foregoing delivered to the Administrative Agent pursuant to the definition of "Collateral and Guarantee Requirement", (vii) the Perfection Certificate (including any Perfection Certificate delivered to the Administrative Agent pursuant to the definition of "Collateral and Guarantee Requirement") and any Perfection Certificate Supplement (including any Perfection Certificate Supplement delivered to the Administrative Agent pursuant to the definition of "Collateral and Guarantee Requirement") and (viii) each of the other instruments and documents (including the Irish Security Documents and, if any, the Jersey Security Documents) pursuant to which Holdings or any Note Party grants a Lien on any Collateral as security for payment of the Secured Obligations.

"**COMI Regulation**" means Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings (recast).

"**Commercial Tort Claim**" has the meaning set forth in Article 9 of the UCC.

"**Commitment**" means, with respect to each Holder, at any time, such Holder's Initial Term Note Commitment, Variable Note Commitment and/or Additional Note Commitment, as applicable, in effect as of such time.

"**Commitment Schedule**" means the Schedule attached hereto as <u>Schedule 1.01(a)</u>.

"**Commodity Exchange Act**" means the Commodity Exchange Act (7 U.S.C. § 1 *et seq*.).

"**Company Competitor**" means any competitor of the Issuer and/or any of its subsidiaries.

"**Compliance Certificate**" means a Compliance Certificate substantially in the form of <u>Exhibit</u> <u>C</u>.

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"**Confidential Information**" has the meaning assigned to such term in <u>Section</u> <u>9.13</u>.

"**Connection Income Taxes**" means Other Connection Taxes that are imposed on or measured by net income, profits or gains (however denominated) or that are franchise Taxes or branch profits Taxes.

"**Consolidated Adjusted EBITDA**" means, as to any Person for any period, an amount determined for such Person on a consolidated basis equal to the total of (a) Consolidated Net Income for such period *plus* (b) the sum, without duplication, of (to the extent deducted in calculating Consolidated Net Income for such period, other than in respect of <u>clauses (b)(xix)</u>, <u>(b)(xxi)</u> and <u>(b)(xxiii)</u> below) the amounts 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;(i) Taxes paid (including, without duplication, tax payments made pursuant to Tax Sharing Agreements with Affiliates to the extent permitted by Section 6.04, and any Permitted Tax Distributions) and provisions for Taxes of such Person and its subsidiaries, including domestic, foreign state, franchise, excise and similar Taxes and foreign withholding Taxes paid or accrued during such period, and including, in each case, arising out of tax examinations relating to any of the foregoing deducted (and not added back) in computing Consolidated Net Income;

&nbsp;&nbsp;&nbsp;&nbsp;&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) interest expense, amortization or write-off of debt discount, debt issuance, warrant and other equity issuance costs and commissions, discounts, redemption premium and other fees and charges associated with the Notes, any Permitted Securitization Financing and other indebtedness permitted hereunder (including fees and expenses paid to the Administrative Agent in connection with its services hereunder, and other bank, administrative agency (or trustee) and financing fees), letters of credit permitted hereunder, Capital Leases or the acquisition or repayment of any debt securities of the Issuer or its subsidiaries permitted hereunder, and net costs associated with Hedge Agreements to which the Issuer is a party in respect of the Notes and/or other indebtedness permitted hereunder (including commitment fees and other periodic bank charges);

&nbsp;&nbsp;&nbsp;&nbsp;&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) costs of surety bonds (whether amortized or immediately expensed);

&nbsp;&nbsp;&nbsp;&nbsp;&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) depreciation and amortization expense (including, without limitation, amortization of goodwill, software and other intangible assets, but excluding amortization of prepaid cash expenses that were paid in a prior period unless such prepaid expenses were deducted (and not added back) in determining Consolidated Adjusted EBITDA in a prior 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;(v) amortization of inventory write-up, deferred revenue adjustment or other non-cash adjustments required under Statement of Financial Accounting Standards No. 141 – Business Combinations, amortization of intangibles (including, but not limited to, goodwill and costs of interest-rate caps and the cost of non-competition agreements) and organization costs including any non-cash charges associated with any impairment analysis required under Statement of Financial Accounting Standards No. 36 – Impairment of Assets and International Accounting Standards No. 38 – Intangible 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;&nbsp;&nbsp;&nbsp;&nbsp;(vi) non-cash amortization of Capital 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;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the amount of board of director fees and expenses (including out of pocket director fees and expenses) actually paid by or on behalf of, or accrued by, such Person to the extent permitted to be paid under 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;(viii) all cash dividend payments (and non-cash dividend expenses) on any series of preferred stock or Disqualified Capital 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;(ix) (A) Transaction Costs, and (B) transaction Charges (1) incurred in connection with the consummation of any transaction (or any transaction proposed and not consummated) permitted under this Agreement, including the issuance or offering of Capital Stock, Investments, acquisitions, Dispositions, recapitalizations, mergers, consolidations or amalgamations, option buyouts or incurrences, repayments, refinancings, amendments or modifications of Indebtedness (including any amortization or write-off of debt issuance or deferred financing costs, premiums and prepayment penalties) or similar transactions, and/or (2) that are actually reimbursed or reimbursable by third parties pursuant to indemnification or reimbursement provisions or similar agreements or insurance; <u>provided</u> that in respect of any fee, cost, expense or reserve that is added back in reliance on <u>clause (2)</u> above, such Person in good faith expects to receive reimbursement for such fee, cost, expense or reserve within the next four Fiscal Quarters (it being understood that to the extent any reimbursement amount is not actually received within such Fiscal Quarters, such reimbursement amount shall be deducted in calculating Consolidated Adjusted EBITDA for such Fiscal Quarters);

&nbsp;&nbsp;&nbsp;&nbsp;&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) (A) any other write-downs, write-offs, minority interests and other similar non-cash Charges and (B) subject to the Aggregate Cap, any non-cash restructuring or other type of non-cash special charge or reserve (provided that to the extent any such non-cash charge represents an accrual or reserve for potential cash items in any future period, (x) such Person may determine not to add back such non-cash charge in the then current period and (y) to the extent such Person elects to add back such non-cash charge, the cash payment in respect thereof in such future period shall be subtracted from Consolidated Adjusted EBITDA to such extent);

&nbsp;&nbsp;&nbsp;&nbsp;&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) subject to the Aggregate Cap, internal software development costs that are expensed during the period but could have been capitalized in accordance 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;(xii) non-recurring litigation or claim settlement Charges;

&nbsp;&nbsp;&nbsp;&nbsp;&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) non-cash compensation Charges associated with any stock options, restricted stock or other equity 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;(xiv) income associated with bill and hold arrangements required by GAAP to be deferred;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) any net after-tax extraordinary, nonrecurring or unusual gains or losses (including, without limitation, any costs relating to the sale of equipment or businesses, severance, relocation or other strategic initiative, restructuring, legal settlements, or pipeline acquisitions) and Charges related thereto, subject to the Aggregate Cap;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi) [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;(xvii) [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;(xviii) the amount of any minority interest expense consisting of subsidiary income attributable to minority Equity Interests of third parties in any non-Wholly-Owned Subsidiary deducted in calculating Consolidated Net Income;

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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;(xix) expected cost savings (including sourcing), operating expense reductions, operating cost improvements and cost synergies (net of actual amounts realized) that are reasonably identifiable and factually supportable (in the good faith determination of such Person, as certified by a chief financial officer, treasurer or equivalent officer of such Person) related to (A) the Transactions and (B) after the Closing Date, permitted asset sales, acquisitions, Investments, Dispositions, operating improvements, restructurings, cost saving initiatives and certain other similar initiatives and/or Specified Transaction, in each case, subject to the Aggregate Cap; provided that (x) any such cost savings, operating expense reductions, operating improvements and cost synergies are projected in good faith to be reasonably anticipated to be realized within 18 months of the applicable event to which they relate and (y) substantial steps have been taken or procedures are in place for realizing such cost savings, operating expense reductions, operating improvements and cost synergies;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xx) subject to the Aggregate Cap, Charges attributable to the undertaking and/or implementation of cost savings initiatives, operating expense reductions, transition, opening and pre-opening expenses, business optimization and other restructuring and integration Charges (including inventory optimization programs, software development costs, costs related to the closure or consolidation of facilities and plants, costs relating to curtailments, costs related to entry into new markets, strategic initiatives and contracts, consulting fees, signing or retention costs, retention or completion bonuses, expansion and relocation expenses, severance payments, modifications to pension and post-retirement employee benefit plans, new systems design and implementation costs and startup 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;&nbsp;&nbsp;&nbsp;&nbsp;(xxi) proceeds of business interruption insurance in an amount representing the earnings for the applicable period that such proceeds are intended to replace (whether or not then received so long as such Person in good faith expects to receive such proceeds within the next four Fiscal Quarters (it being understood that to the extent not actually received within such Fiscal Quarters, such proceeds shall be deducted in calculating Consolidated Adjusted EBITDA for such Fiscal Quarters));

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxii) to the extent not added back in reliance on clause (ii) above, unrealized net losses in the fair market value of any arrangements under Hedge 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;(xxiii) the amount of Cash actually received (or the amount of the benefit of any netting arrangement resulting in reduced Cash expenditures) during such period, and not included in Consolidated Net Income in any period, to the extent that the related non-Cash gain in respect of such Cash receipt or such netting arrangement was deducted in the calculation of Consolidated Adjusted EBITDA pursuant to clause (c)(i) below for any previous period and not added back;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xxiv) without duplication of clause (ii) above, the amount of loss or discount in connection with a Permitted Securitization Financing; 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;(xxv) other add-backs and adjustments reflected in the model delivered by the Issuer to the Administrative Agent on September 15, 2024 (excluding revenue synergies, if any);

*minus* (c) to the extent such amounts increase Consolidated Net Income for such period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) non-cash gains or income; <u>provided</u> that to the extent any non-cash gain or income represents an accrual or deferred income in respect of potential Cash items in any future period, such Person may determine not to deduct such non-cash gain or income in the then current period;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) unrealized net gains in the fair market value of any arrangements under Hedge Agreements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the amount added back to Consolidated Adjusted EBITDA pursuant to <u>clause (b)(ix)(B)(2)</u> above (as described in such clause) to the extent the relevant reimbursement amounts were not received within the time period required by such clause;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the amount added back to Consolidated Adjusted EBITDA pursuant to <u>clause (b)(xxi)</u> above (as described in such clause) to the extent the relevant business interruption insurance proceeds were not received within the time period required by such clause; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) to the extent that such Person adds back the amount of any non-Cash charge to Consolidated Adjusted EBITDA pursuant to <u>clauses (b)(x)</u> above, the cash payment in respect thereof in the relevant future period.

Unless otherwise specified herein, Consolidated Adjusted EBITDA shall refer to Consolidated Adjusted EBITDA of Holdings and its Restricted Subsidiaries.

Notwithstanding anything to the contrary herein, it is agreed that for the purpose of calculating the Total Leverage Ratio and the First Lien Leverage Ratio for any period that includes the Fiscal Quarters ended September 30, 2024, June 30, 2024, March 31, 2024 or December 31, 2023, (i) Consolidated Adjusted EBITDA for the Fiscal Quarter ended September 30, 2024 shall be deemed to be $107,000,000, (ii) Consolidated Adjusted EBITDA for the Fiscal Quarter ended June 30, 2024 shall be deemed to be $91,000,000, (iii) Consolidated Adjusted EBITDA for the Fiscal Quarter ended March 31, 2024 shall be deemed to be $86,000,000 and (iv) Consolidated Adjusted EBITDA for the Fiscal Quarter ended December 31, 2023 shall be deemed to be $86,000,000; provided that for any subsequent four Fiscal Quarter period that includes any of the Fiscal Quarters described under <u>clauses (i)</u> <u>through (iv)</u> above, Consolidated Adjusted EBITDA shall include the applicable amounts set forth in the Aggregate Cap Addbacks, subject to the Aggregate Cap, and the Pro Forma Basis calculation shall be in accordance with the terms thereof.

"**Consolidated First Lien Debt**" means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a first priority Lien on any Collateral or by a Lien on any other asset or property of such Person or its Restricted Subsidiaries.

"**Consolidated Net Income**" means, as to any Person (the "**Subject Person**") for any period, the net income (or loss) of the Subject Person on a consolidated basis for such period taken as a single accounting period determined in accordance with GAAP; <u>provided</u> that there shall be excluded, without duplication,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (i) the income of (x) any Person (other than a Restricted Subsidiary of the Subject Person) in which any other Person (other than the Subject Person or any of its Restricted Subsidiaries) has an interest, (y) any Unrestricted Subsidiary or (z) any Person that is accounted for by the equity method of accounting, in each case except to the extent of the amount of dividends or distributions or other payments (including any ordinary course dividend, distribution or other payment) paid in cash (or to the extent converted into cash) to the Subject Person or any of its Restricted Subsidiaries by such Person during such period or (ii) the loss of (x) any Person (other than a Restricted Subsidiary of the Subject Person) in which any other Person (other than the Subject Person or any of its Restricted Subsidiaries) has an interest, (y) any Unrestricted Subsidiary or (z) any Person that is accounted for by the equity method of accounting, in each case other than to the extent that the Subject Person or any of its Restricted Subsidiaries has contributed cash or Cash Equivalents to such Person in respect of such loss during such period,

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) solely for the purpose of determining the amount available under paragraph (a)(ii) of the definition of Available Amount, the net income of any Restricted Subsidiary (other than any Subsidiary Guarantor) to the extent the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of its net income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule, or governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such restriction with respect to the payment of dividends or similar distributions has been legally waived; <u>provided</u> that Consolidated Net Income of the Subject Person will be increased by the amount of dividends or other distributions or other payments actually paid by such Restricted Subsidiary in cash (or to the extent converted into cash) to such Subject Person or a Restricted Subsidiary (subject to the provisions of this clause (b)) thereof in respect of such period to the extent not already included therein,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) gains or losses (less all fees and expenses chargeable thereto) attributable to any sales or dispositions of Capital Stock or assets (including asset retirement costs) or of returned surplus assets of any employee benefit plan outside of the ordinary course of business,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) [reserved],

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any unrealized or realized net foreign currency translation or transaction gains or losses impacting net income (including currency re-measurements of Indebtedness),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any net gains, Charges or losses with respect to (i) any disposed, abandoned, divested and/or discontinued asset, property or operation (other than, at the option of the Issuer, any asset, property or operation pending the disposal, abandonment, divestiture and/or termination thereof), (ii) any disposal, abandonment, divestiture and/or discontinuation of any asset, property or operation and/or (iii) facilities or plants that have been closed during such period or with respect to such Charges and losses that were required to be recorded pursuant to GAAP,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) any net income or loss (less all fees and expenses or charges related thereto) attributable to the early extinguishment of Indebtedness (and the termination of any associated Hedge Agreements),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) (i) any Charges incurred pursuant to any management equity plan, profits interest or stock option plan or any other management or employee benefit plan or agreement, pension plan, any stock subscription or shareholder agreement or any distributor equity plan or agreement and (ii) any Charges in connection with the rollover, acceleration or payout of Capital Stock held by management of any Parent Company, the Issuer and/or any Restricted Subsidiary, in each case, to the extent that any such cash Charge is funded with net cash proceeds contributed to the Subject Person as a capital contribution or as a result of the sale or issuance of Qualified Capital Stock of the Subject Person, solely to the extent that such net cash proceeds are excluded from the calculation of the Available Amount,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) accruals and reserves that are established or adjusted within 12 months after the Closing Date that are required to be established or adjusted as a result of the Transactions in accordance with GAAP or as a result of the adoption or modification of accounting policies in accordance with GAAP,

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any (A) write-off or amortization made in such period of deferred financing costs and premiums paid or other expenses incurred directly in connection with any early extinguishment of Indebtedness, (B) goodwill or other asset impairment charges, write-offs or write-downs and (C) amortization of intangible assets; <u>provided</u> that in no event shall amortization of intangibles so excluded in any period of four consecutive Fiscal Quarters exceed 10% of Consolidated Net Income for such period (before giving effect to such exclusion), and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) (A) effects of adjustments (including the effects of such adjustments pushed down to the Subject Person and its subsidiaries) in the Subject Person's consolidated financial statements pursuant to GAAP (including in the inventory, property and equipment, software, goodwill, intangible assets, in-process research and development, deferred revenue, deferred rent, deferred trade incentives and other lease-related items, advanced billings and debt line items thereof) resulting from the application of recapitalization accounting or acquisition accounting, as the case may be, in relation to the Transactions or any consummated acquisition or the amortization or write-off of any amounts thereof, net of Taxes and (B) the cumulative effect of changes in accounting principles or policies made in such period in accordance with GAAP which affect Consolidated Net Income;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) non-cash compensation Charges associated with any stock options, restricted stock or other equity instruments, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Charges, transaction fees, costs and expenses, and premiums incurred (including, without limitation, financial advisory, accounting, auditor, legal and other consulting and advisory fees and any or other filing fees and expenses) in connection with the consummation of any transaction (or any other transaction proposed and not consummated) relating to the issuance of Equity Interests, Indebtedness, investments, acquisitions or dispositions, in each case, to the extent permitted under the this Agreement relating to or the incurrence, refinancing, amendment or modification of such permitted transactions.

Notwithstanding the foregoing, for the purpose of calculating the Available Amount only, there shall be excluded from Consolidated Net Income, without duplication, any income consisting of dividends, repayments of notes, loans or advances or other transfers of assets from non-wholly owned Restricted Subsidiaries, Unrestricted Subsidiaries or joint ventures to the Issuer or a Restricted Subsidiary, and any income consisting of a return of capital, repayment or other proceeds from dispositions or repayments of Investments, in each case to the extent such income would be included in Consolidated Net Income and such related dividends, repayments, transfers, return of capital or other proceeds are applied by the Note Parties to increase the Available Amount.

"**Consolidated Secured Debt**" means, as to any Person at any date of determination, the aggregate principal amount of Consolidated Total Debt outstanding on such date that is secured by a Lien on any asset or property of such Person or its Restricted Subsidiaries.

"**Consolidated Total Assets**" means, at any date, all amounts that would, in conformity with GAAP, be set forth opposite the caption "total assets" (or any like caption) on a consolidated balance sheet of the applicable Person at such date.

"**Consolidated Total Debt**" means, as to any Person at any date of determination, the aggregate principal amount of all third party debt for borrowed money (including the outstanding principal balance of all Indebtedness of such Person represented by notes, bonds and similar instruments), Capital Leases, purchase money Indebtedness, obligations in respect of Disqualified Capital Stock, the amount of any Receivables Net Investment and Guarantee obligations with respect to any of the foregoing (but excluding, for the avoidance of doubt, undrawn letters of credit). Unless otherwise specified herein, "Consolidated Total Debt" shall refer to the Consolidated Total Debt of Holdings and its Restricted Subsidiaries.

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"**Consolidated Working Capital**" means, as at any date of determination, the excess of Current Assets over Current Liabilities.

"**Consolidated Working Capital Adjustment**" means, for any period on a consolidated basis, the amount (which may be a negative number) by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital as of the end of such period; <u>provided</u> that there shall be excluded (a) the effect of reclassification during such period between current assets and long term assets and current liabilities and long term liabilities (with a corresponding restatement of the prior period to give effect to such reclassification), (b) the effect of any Disposition of any Person, facility or line of business or acquisition of any Person, facility or line of business during such period, (c) the effect of any fluctuations in the amount of accrued and contingent obligations under any Hedge Agreement, and (d) the application of purchase or recapitalization accounting.

"**Consummation Date**" has the meaning assigned to such term in <u>Section</u> <u>5.16</u>.

"**Contract Consideration**" has the meaning assigned to such term in the definition of "Excess Cash Flow".

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

"**Contribution Notice**" means a contribution notice issued by the Pensions Regulator under section 38 or section 47 of the Pensions Act 2004.

"**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.

"**Copyright**" means the following: (a) all copyrights, rights and interests in copyrights, works protectable by copyright whether published or unpublished, copyright registrations and copyright applications; (b) all renewals of any of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due and/or payable under any of the foregoing, including, without limitation, damages or payments for past or future infringements for any of the foregoing; (d) the right to sue for past, present, and future infringements of any of the foregoing; and (e) all rights corresponding to any of the foregoing.

"**Corporate Integrity Agreement**" means any corporate integrity agreement entered into from time to time between the Issuer or its Subsidiaries and any Governmental Authority, including among others the Office of Inspector General of the United States Department of Health and Human Services (the "**US DHHS**").

"**CMS**" means the federal Centers for Medicare and Medicaid Services (formerly the federal Health Care Financing Administration), and any successor Governmental Authority.

"**CTA**" means the Corporation Tax Act 2009.

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"**Cumulative Excess Cash Flow**" means the amount equal to the sum of Excess Cash Flow (but not less than zero for any Fiscal Year) for the Fiscal Year ending on December 31, 2025 and Excess Cash Flow (but not less than zero in any Fiscal Year) for each succeeding and completed fiscal year.

"**Cumulative Retained Excess Cash Flow Amount**" means, as at any date of determination, an amount determined on a cumulative basis equal to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the amount of Cumulative Excess Cash Flow, minus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) that portion of Excess Cash Flow that has been, or is required to be (other than Declined Proceeds), applied to prepay Notes (or any portion thereof) pursuant to <u>Section</u> <u>2.11(b)(i)</u> during or with respect to the Fiscal Years in respect of which Cumulative Excess Cash Flow was calculated.

"**Curative Equity**" means the making of capital contributions to Holdings or the issuance of Capital Stock by Holdings (other than Disqualified Capital Stock), in each case that are concurrently contributed to the Issuer, for the purposes of, and in accordance with, <u>Section</u> <u>6.14(c)</u>.

"**Current Assets**" means, at any time, the sum of (a) the consolidated current assets (other than Cash and Cash Equivalents, the current portion of current and deferred Taxes, permitted loans made to third parties, assets held for sale, pension assets, deferred bank fees and derivative financial instruments) of any Person and its Restricted Subsidiaries plus (b) in the event that a Permitted Securitization Financing is accounted for off balance sheet, (x) gross accounts receivable comprising part of the Securitization Assets subject to such Permitted Securitization Financing less (y) collections against the amounts sold pursuant to clause (x).

"**Current Liabilities**" means, at any time, the consolidated current liabilities of any Person and its Restricted Subsidiaries at such time, but excluding, without duplication, (a) the current portion of any long-term Indebtedness, (b) outstanding Variable Notes, (c) the current portion of interest expense (excluding interest expense that is due and unpaid), (d) the current portion of any Capital Lease, (e) the current portion of current and deferred Taxes, (f) liabilities in respect of unpaid earn-outs, (g) the current portion of any other long-term liabilities, (h) accruals relating to restructuring reserves, (i) liabilities in respect of funds of third parties on deposit with the Issuer or any of its Restricted Subsidiaries and (j) any liabilities recorded in connection with stock-based awards, partnership interest-based awards, awards of profits interests, deferred compensation awards and similar incentive based compensation awards or arrangements.

"**DEA**" means the Drug Enforcement Administration of the United States of America, any comparable state or local Governmental Authority, any comparable Governmental Authority in any non-United States jurisdiction, and any successor agency of any of the foregoing.

"**Debtor Relief Laws**" means the Bankruptcy Code, the Insolvency Act, 1986, the Companies Act 2014 of Ireland and all other liquidation, conservatorship, bankruptcy, general assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, examinership or similar debtor relief laws of the U.S., the United Kingdom, Ireland, Jersey or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally. Without limiting the foregoing, in respect of each Lux Note Party and any other Lux Note Party, Debtor Relief Laws shall also include a Luxembourg Insolvency Event.

"**Declined Proceeds**" has the meaning assigned to such term in <u>Section</u> <u>2.11(b)(v)</u>.

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"**Default**" means any event or condition which upon notice, lapse of time or both would become an Event of Default.

"**Defaulting Holder**" means any Holder that has (a) defaulted in its obligations under this Agreement, including without limitation, to purchase a Note within two Business Days of the date required to be purchased by it hereunder, (b) notified the Administrative Agent or any Note Party in writing that it does not intend to satisfy any such obligation or has made a public statement to the effect that it does not intend to comply with its funding obligations under this Agreement or under agreements in which it commits to extend credit generally, (c) failed, within two Business Days after the request of Administrative Agent or the Issuer, to confirm in writing that it will comply with the terms of this Agreement relating to its obligations to fund prospective Notes; <u>provided</u> that such Holder shall cease to be a Defaulting Holder pursuant to this <u>clause (c)</u> upon receipt of such written confirmation by the Administrative Agent, (d) become (or any parent company thereof has become) insolvent or been determined by any Governmental Authority having regulatory authority over such Person or its assets, to be insolvent, or the assets or management of which has been taken over by any Governmental Authority or (e) become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or custodian, appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in, any such proceeding or appointment, or has become the subject of a Bail-In Action, unless in the case of any Holder subject to this <u>clause (e)</u>, the Issuer and the Administrative Agent shall each have determined that such Holder intends, and has all approvals required to enable it (in form and substance satisfactory to each of the Issuer and the Administrative Agent), to continue to perform its obligations as a Holder hereunder; <u>provided</u> that no Holder shall be deemed to be a Defaulting Holder solely by virtue of the ownership or acquisition of any Capital Stock in such Holder or its parent by any Governmental Authority; <u>provided</u> that such action does not result in or provide such Holder with immunity from the jurisdiction of courts within the U.S. or from the enforcement of judgments or writs of attachment on its assets or permit such Holder (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contract or agreement to which such Holder is a party.

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

"**Derivative Transaction**" means (a) any interest-rate transaction, including any interest-rate swap, basis swap, forward rate agreement, interest rate option (including a cap, collar or floor), and any other instrument linked to interest rates that gives rise to similar credit risks (including when-issued securities and forward deposits accepted), (b) any exchange-rate transaction, including any cross-currency interest-rate swap, any forward foreign-exchange contract, any currency option, and any other instrument linked to exchange rates that gives rise to similar credit risks, (c) any equity derivative transaction, including any equity-linked swap, any equity-linked option, any forward equity-linked contract, and any other instrument linked to equities that gives rise to similar credit risk , (d) any commodity (including precious metal) derivative transaction, including any commodity-linked swap, any commodity-linked option, any forward commodity-linked contract, and any other instrument linked to commodities that gives rise to similar credit risks and (e) any and all transactions of any kind, and the related confirmations, in each case 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. or any International Foreign Exchange Master Agreement; <u>provided</u> that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees, members of management, managers or consultants of the Issuer or its subsidiaries shall be a Derivative Transaction.

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"**Designated Non-Cash Consideration**" means the fair market value (as determined by the Issuer in good faith) of non-Cash consideration received by the Issuer or any Restricted Subsidiary in connection with any Disposition pursuant to <u>Section</u> <u>6.07(h)</u> that is designated as Designated Non-Cash Consideration pursuant to a certificate of a Responsible Officer of the Issuer, setting forth the basis of such valuation (which amount will be reduced by the amount of Cash or Cash Equivalents received in connection with a subsequent sale or conversion of such Designated Non-Cash Consideration to Cash or Cash Equivalents).

"**Designated Note Issuances**" has the meaning assigned to such term in <u>Section</u> <u>9.05(i)(i)</u>.

"**Designating Holder**" has the meaning assigned to such term in <u>Section</u> <u>9.05(i)(i)</u>.

"**Disclosure Documents**" means (i) all matters disclosed by Indivior PLC in any regulatory news announcement (for the avoidance of doubt, excluding any forward looking statement(s) (including any risk factors)) made by Indivior PLC, including those made pursuant to its obligations under: (a) Articles 17 to 19 of the Market Abuse Regulation (Regulation 596/2014); (b) the Listing Rules sourcebook published by the UK Financial Conduct Authority; and (c) the Disclosure Guidance and Transparency Rules sourcebook published by the UK Financial Conduct Authority; and (ii) all reports of Indivior PLC<u>any Applicable Reporting Company</u> and any amendments thereto and documents incorporated by reference therein that shall have been filed with or furnished to the SEC.

"**Discount Range**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Disposition**" or "**Dispose**" means the sale, lease, sublease, or other disposition of any property of any Person.

"**Disqualified Capital Stock**" means any Capital Stock which, by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable), or upon the happening of any event, (a) matures (excluding any maturity as the result of an optional redemption by the issuer thereof) or is mandatorily redeemable (other than for Qualified Capital Stock), pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof (other than for Qualified Capital Stock), in whole or in part, on or prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued (it being understood that if any such redemption is in part, only the portion of such Capital Stock that is so redeemable prior to 91 days following the Latest Maturity Date shall constitute Disqualified Capital Stock), (b) is or becomes convertible into or exchangeable (unless at the sole option of the issuer thereof) for (i) debt securities or (ii) any Capital Stock that would constitute Disqualified Capital Stock, in each case at any time on or prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued, (c) contains any mandatory repurchase obligation or any other repurchase obligation at the option of the holder thereof (other than for Qualified Capital Stock), in whole or in part, which may come into effect prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued (it being understood that if any such repurchase obligation is in part, only the portion of such Capital Stock that is subject to such repurchase obligation prior to 91 days following the Latest Maturity Date shall constitute Disqualified Capital Stock) or (d) provides for the scheduled payments of dividends in Cash on or prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued; <u>provided</u> that any Capital Stock that would not constitute Disqualified Capital Stock but for provisions thereof giving holders thereof (or the holders of any security into or for which such Capital Stock is convertible, exchangeable or exercisable) the right to require the issuer thereof to redeem such Capital Stock upon the occurrence of any change in control or any Disposition occurring prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued shall not constitute Disqualified Capital Stock if such Capital Stock provides that the issuer thereof will not redeem any such Capital Stock pursuant to such provisions prior to the Termination Date.

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Notwithstanding the preceding sentence, (A) if such Capital Stock is issued pursuant to any plan for the benefit of directors, officers, employees, members of management, managers or consultants or by any such plan to such directors, officers, employees, members of management, managers or consultants, in each case in the ordinary course of business of Holdings, the Issuer or any Restricted Subsidiary, such Capital Stock shall not constitute Disqualified Capital Stock solely because it may be required to be repurchased by the issuer thereof in order to satisfy applicable statutory or regulatory obligations, and (B) no Capital Stock held by any future, present or former employee, director, officer, manager, member of management or consultant (or their respective Affiliates or Immediate Family Members) of the Issuer (or any Parent Company or any subsidiary) shall be considered Disqualified Capital Stock solely because such stock is redeemable or subject to repurchase pursuant to any management equity subscription agreement, stock option, stock appreciation right or other stock award agreement, stock ownership plan, put agreement, stockholder agreement or similar agreement that may be in effect from time to time.

"**Disqualified Institution**" means (i) any Person that is or becomes a Company Competitor and is designated by the Issuer as such in a writing provided to the Administrative Agent after the date hereof, which designation shall not apply retroactively to disqualify any Person that has previously acquired any assignment or participation interest in any Note or Commitment and (ii) any Affiliate of any such Company Competitor (other than a Bona Fide Debt Fund) that is reasonably identifiable on the basis of such Affiliate's name; <u>provided</u> that an entity becoming an Affiliate of a Company Competitor shall not retroactively disqualify any Person that has previously acquired any assignment or participation interest in any Note or Commitment.

"**Dollar Equivalent**" shall mean, at any time, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount denominated in any currency other than Dollars, the equivalent amount thereof in Dollars as determined by the Administrative Agent at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date or other applicable date of determination) for the purchase of Dollars with such currency.

"**Dollars**" or "**$**" refers to lawful money of the U.S.

"**Domestic Subsidiary**" means any Restricted Subsidiary incorporated or organized under the laws of the U.S., any state thereof or the District of Columbia.

"**DQ List**" has the meaning assigned to such term in <u>Section</u> <u>9.05(f)(iv)</u>.

"**Dutch Auction**" means an auction (an "**Auction**") conducted by any Affiliated Holder (any such Person, the "**Auction Party**") in order to purchase Initial Term Notes of any Class (or any Additional Term Notes), in accordance with the following procedures; <u>provided</u> that no Auction Party shall initiate any Auction unless (I) at least five Business Days have passed since the consummation of the most recent purchase of Term Notes pursuant to an Auction conducted hereunder; or (II) at least three Business Days have passed since the date of the last Failed Auction which was withdrawn pursuant to <u>clause (c)(i)</u> below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Notice Procedures</u>. In connection with any Auction, the Auction Party will provide notification to the Auction Agent (for distribution to the relevant Holders) of the Term Notes that will be the subject of the Auction (an "**Auction Notice**"). Each Auction Notice shall be in a form reasonably acceptable to the Auction Agent and shall (i) specify the maximum aggregate principal

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amount of the Term Notes subject to the Auction, in a minimum amount of $10,000,000 and whole increments of $1,000,000 in excess thereof (or, in any case, such lesser amount of such Term Notes then outstanding or which is otherwise reasonably acceptable to the Auction Agent and the Administrative Agent (if different from the Auction Agent)) (the "**Auction Amount**"), (ii) specify the discount to par (which may be a range (the "**Discount Range**") of percentages of the par principal amount of the Term Notes subject to such Auction), that represents the range of purchase prices that the Auction Party would be willing to accept in the Auction, (iii) be extended, at the sole discretion of the Auction Party, to (x) each Term Holder and/or (y) each Holder with respect to any Term Note on an individual Class basis and (iv) remain outstanding through the Auction Response Date. The Auction Agent will promptly provide each appropriate Holder with a copy of the Auction Notice and a form of the Return Bid to be submitted by a responding Holder to the Auction Agent (or its delegate) by no later than 5:00 p.m. on the date specified in the Auction Notice (or such later date as the Auction Party may agree with the reasonable consent of the Auction Agent) (the "**Auction Response Date**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Reply Procedures</u>. In connection with any Auction, each Holder holding the relevant Term Notes subject to such Auction may, in its sole discretion, participate in such Auction and may provide the Auction Agent with a notice of participation (the "**Return Bid**") which shall be in a form reasonably acceptable to the Auction Agent, and shall specify (i) a discount to par (that must be expressed as a price at which it is willing to sell all or any portion of such Term Notes) (the "**Reply Price**"), which (when expressed as a percentage of the par principal amount of such Term Notes) must be within the Discount Range, and (ii) a principal amount of such Term Notes, which must be in whole increments of $1,000,000 (or, in any case, such lesser amount of such Term Notes of such Holder then outstanding or which is otherwise reasonably acceptable to the Auction Agent) (the "**Reply Amount**"). Holders may only submit one Return Bid per Auction, but each Return Bid may contain up to three bids only one of which may result in a Qualifying Bid. In addition to the Return Bid, the participating Holder must execute and deliver, to be held in escrow by the Auction Agent, an Assignment and Assumption with the dollar amount of the Term Notes to be assigned to be left in blank, which amount shall be completed by the Auction Agent in accordance with the final determination of such Holder's Qualifying Bid pursuant to <u>clause (c)</u> below. Any Holder whose Return Bid is not received by the Auction Agent by the Auction Response Date shall be deemed to have declined to participate in the relevant Auction with respect to all of its Term Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Acceptance Procedures</u>. Based on the Reply Prices and Reply Amounts received by the Auction Agent prior to the applicable Auction Response Date, the Auction Agent, in consultation with the Auction Party, will determine the applicable price (the "**Applicable Price**") for the Auction, which will be the lowest Reply Price for which the Auction Party can complete the Auction at the Auction Amount; <u>provided</u> that, in the event that the Reply Amounts are insufficient to allow the Auction Party to complete a purchase of the entire Auction Amount (any such Auction, a "**Failed Auction**"), the Auction Party shall either, at its election, (i) withdraw the Auction or (ii) complete the Auction at an Applicable Price equal to the highest Reply Price. The Auction Party shall purchase the relevant Term Notes (or the respective portions thereof) from each Holder with a Reply Price that is equal to or lower than the Applicable Price ("**Qualifying Bids**") at the Applicable Price; <u>provided</u> that if the aggregate proceeds required to purchase all Term Notes subject to Qualifying Bids would exceed the Auction Amount for such Auction, the Auction Party shall purchase such Term Notes at the Applicable Price ratably based on the principal amounts of such Qualifying Bids (subject to rounding requirements specified by the Auction Agent in its discretion). If a Holder has submitted a Return Bid containing multiple bids at different Reply Prices, only the bid with the lowest Reply Price that is equal to or less than the Applicable Price will be deemed to be the Qualifying Bid of such Holder

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(*e.g.*, a Reply Price submitted by a Holder of $100 with a discount to par of 2%, when compared to an Applicable Price of $100 with a 1% discount to par, will not be deemed to be a Qualifying Bid, while, however, a Reply Price submitted by a Holder of $100 with a discount to par of 2.50% would be deemed to be a Qualifying Bid). The Auction Agent shall promptly, and in any case within five Business Days following the Auction Response Date with respect to an Auction, notify (I) the Issuer of the respective Holders' responses to such solicitation, the effective date of the purchase of Term Notes pursuant to such Auction, the Applicable Price, and the aggregate principal amount of the Term Notes and the tranches thereof to be purchased pursuant to such Auction, (II) each participating Holder of the effective date of the purchase of Term Notes pursuant to such Auction, the Applicable Price, and the aggregate principal amount and the tranches of Term Notes to be purchased at the Applicable Price on such date, (III) each participating Holder of the aggregate principal amount and the tranches of the Term Notes of such Holder to be purchased at the Applicable Price on such date and (IV) if applicable, each participating Holder of any rounding and/or proration pursuant to the second preceding sentence. Each determination by the Auction Agent of the amounts stated in the foregoing notices to the Issuer and Holders shall be conclusive and binding for all purposes absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Additional Procedures</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;(i) Once initiated by an Auction Notice, the Auction Party may not withdraw an Auction other than a Failed Auction. Furthermore, in connection with any Auction, upon submission by a Holder of a Qualifying Bid, such Holder (each, a "**Qualifying Holder**") will be obligated to sell the entirety or its allocable portion of the Reply Amount, as the case may be, at the Applicable Price.

&nbsp;&nbsp;&nbsp;&nbsp;&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) To the extent not expressly provided for herein, each purchase of Term Notes pursuant to an Auction shall be consummated pursuant to procedures consistent with the provisions in this definition, established by the Auction Agent acting in its reasonable discretion and as reasonably agreed by the Issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&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) In connection with any Auction, the Issuer and the Holders acknowledge and agree that the Auction Agent may require as a condition to any Auction, the payment of customary fees and expenses by the Auction Party in connection therewith as agreed between the Auction Party and 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;(iv) Notwithstanding anything in any Notes Document to the contrary, for purposes of this definition, 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 the Auction Agent's (or its delegate's) actual receipt during normal business hours of such notice or communication; <u>provided</u> 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;(v) The Issuer and the Holders acknowledge and agree that the Auction Agent may perform any and all of its duties under this definition by itself or through any Affiliate of the Auction Agent and expressly consent 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 Auction, and any purchase of Term Notes provided for in this definition as well as activities of the Auction Agent.

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"**Eligible Assignee**" means (a) any Holder, (b) any Approved Fund of any Holder, (c) any Affiliate of any Holder, (d) to the extent permitted under <u>Section</u> <u>9.05(g)</u>, any Affiliated Holder and (e) any other Person that is a commercial bank, insurance company, or finance company, financial institution, any fund that invests in loans and/or notes or any other "accredited investor" (as defined in Regulation D of the Securities Act); <u>provided</u> that in any event, "Eligible Assignee" shall not include (i) any natural person, (ii) any Disqualified Institution or (iii) except as permitted under <u>Section</u> <u>9.05(g)</u>, Holdings, the Issuer or any of its Affiliates.

"**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 clause (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.

"**EMU Legislation**" shall mean the legislative measures of the European Union relating to Economic and Monetary Union.

"**English Group Member**" means each English Note Party and each Restricted Subsidiary incorporated under the laws of England and Wales.

"**English Note Party**" means Holdings, together with any Note Party incorporated under the laws of England and Wales.

"**English Security Documents**" means (a) the English law governed debenture entered into or to be entered into among Holdings, the Issuer, Indivior UK Limited, Indivior UK Finance No 2 Limited and Indivior UK Finance No 3 Limited as chargors and the Administrative Agent as the security trustee for the benefit of the Secured Parties and (b) each other English law governed document or instrument which creates or evidences or which is expressed to create or evidence any Lien granted or required to be granted pursuant to <u>Section</u> <u>5.12</u> and/or the definition of "Collateral and Guarantee Requirement", or which is entered into by Holdings or any subsidiary of Holdings to create or evidence, or which is expressed to create or evidence, security for the Secured Obligations.

"**English Security Trust Deed**" means any English law security trust deed entered into or to be entered into by the Administrative Agent and certain Note Parties whereby, *inter alia*, the Administrative Agent declares the rights, interests, benefits and other property comprised in the Liens the subject of the English Security Documents are held on trust for the other Secured Parties, together with each accession agreement with respect thereto.

"**Environment**" means ambient air, indoor air, surface water, groundwater, drinking water, land surface and subsurface strata & natural resources such as wetlands, flora and fauna.

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"**Environmental Claim**" means any investigation, notice, notice of violation, claim, action, suit, proceeding, demand, abatement order or other order or directive (conditional or otherwise), by any Governmental Authority or any other Person, arising (a) pursuant to or in connection with any actual or alleged violation of any Environmental Law; (b) in connection with any Hazardous Material or any actual or alleged Hazardous Materials Activity; or (c) in connection with any actual or alleged damage, injury, threat or harm the Environment.

ARTICLE 9"**Environmental Laws**" means any and all current or future foreign or domestic, federal or state (or any subdivision of either of them), statutes, ordinances, orders, rules, regulations, judgments, Governmental Authorizations, or any other applicable requirements of Governmental Authorities and the common law relating to (a) environmental matters, including those relating to any Hazardous Materials Activity; or (b) the generation, use, storage, transportation or disposal of or exposure to Hazardous Materials, in any manner applicable to the Issuer or any of its Restricted Subsidiaries or any Real Estate Facility.

"**Environmental Liability**" means any liability, contingent or otherwise (including any liability for damages, costs of environmental investigation or remediation, fines, penalties or indemnities), 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, (d) the Release or threatened Release of any Hazardous Materials into the Environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.

"**Equity Interests**" means shares of capital stock, partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such Equity Interest.

"**ERISA**" means the Employee Retirement Income Security Act of 1974, as amended, and the rules and regulations promulgated thereunder.

"**ERISA Affiliate**" means, as applied to any Person, (a) any corporation which is a member of a controlled group of corporations within the meaning of Section 414(b) of the Code of which that Person is a member; and (b) any trade or business (whether or not incorporated) which is a member of a group of trades or businesses under common control within the meaning of Section 414(c) of the Code of which that Person is a member.

"**ERISA Event**" means (a) 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 30-day notice period has been waived); (b) the failure to meet the minimum funding standard of Section 412 of the Code with respect to any Pension Plan, or the filing of any request for or receipt of a minimum funding waiver under Section 412 of the Code with respect to any Pension Plan or a failure to make a required contribution to a Multiemployer Plan; (c) 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; (d) the withdrawal by any of Holdings, the Issuer, any of their Restricted Subsidiaries or any of their respective ERISA Affiliates from any Pension Plan with two or more contributing sponsors or the termination of any such Pension Plan resulting in liability to any of Holdings, the Issuer, any of their Restricted Subsidiaries or any of their respective ERISA Affiliates pursuant to Section 4063 or 4064 of ERISA; (e) the institution by the PBGC of proceedings to terminate any Pension Plan; (f) the imposition of liability on any of Holdings, the Issuer, any of their Restricted Subsidiaries or any of their respective ERISA Affiliates pursuant to Section 4062(e) or 4069 of ERISA or by reason of the application of Section 4212(c) of ERISA; (g) a complete or partial withdrawal (within the meaning of Sections 4203 and 4205 of ERISA) of any of Holdings, the Issuer, any of their Restricted

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Subsidiaries or any of their respective ERISA Affiliates from any Multiemployer Plan, or the receipt by any of Holdings, the Issuer, any of their Restricted Subsidiaries or any of their respective ERISA Affiliates of notice from any Multiemployer Plan that it is in insolvency pursuant to Section 4245 of ERISA, or that it intends to terminate or has terminated under Section 4041A or 4042 of ERISA or is in "endangered" or "critical" status, within the meaning of Section 432 of the Code or Section 305 of ERISA; (h) a failure by any of Holdings, the Issuer, any of their Restricted Subsidiaries or any of their respective ERISA Affiliates to pay when due (after expiration of any applicable grace period) any installment payment with respect to withdrawal liability under Section 4201 of ERISA; (i) a determination that any Pension Plan is, or is reasonably expected to be, in "at-risk" status, within the meaning of Section 430(i)(4) of the Code or Section 303(i)(4) of ERISA; or (j) the incurrence of liability or the imposition of a Lien pursuant to Section 436 or 430(k) of the Code or pursuant to ERISA with respect to any Pension Plan.

"**Erroneous Payment**" has the meaning assigned to it in <u>Article 8</u>.

"**Erroneous Payment Deficiency Assignment**" has the meaning assigned to it in <u>Article 8</u>.

"**Erroneous Payment Impacted Class**" has the meaning assigned to it in <u>Article 8</u>.

"**Erroneous Payment Return Deficiency**" has the meaning assigned to it in <u>Article 8</u>.

"**Erroneous Payment Subrogation Rights**" has the meaning assigned to it in <u>Article 8</u>.

"**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.

"**European Union**" shall mean the political and economic community of European member states with supranational and intergovernmental features, located in Europe.

"**Event of Default**" has the meaning assigned to such term in <u>Article 7</u>.

"**Excess Cash Flow**" means, for any Test Period ending on the last day of any Fiscal Year, an amount (if positive), determined for Holdings and its Restricted Subsidiaries, equal to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the sum, without duplication, of the amounts for such period 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;(i) Consolidated Adjusted EBITDA for such period without giving effect to <u>clause (b)(xix)</u> of the definition thereof, *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;(ii) the Consolidated Working Capital Adjustment for 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;&nbsp;&nbsp;&nbsp;&nbsp;(iii) cash gains of the type described in <u>clauses</u> <u>(c)</u>, <u>(d)</u>, <u>(e)</u>, <u>(f)</u> and <u>(g)</u> of the definition of "Consolidated Net Income", to the extent not otherwise included in calculating Consolidated Adjusted EBITDA (except to the extent such gains consist of proceeds applied pursuant to <u>Section</u> <u>2.11(b)(ii)</u>), *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;(iv) to the extent not otherwise included in the calculation of Consolidated Adjusted EBITDA for such period, cash payments received by Holdings or any of its Restricted Subsidiaries with respect to amounts deducted from Excess Cash Flow in a prior period pursuant to <u>clause (b)(vii)</u> below, *minus*

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the sum, without duplication, of the amounts for such period 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;(i) permanent repayments of long-term Indebtedness, including for purposes of clarity, the current portion of any such Indebtedness (including (x) payments under <u>Section</u> <u>2.09(b)</u>, <u>Section</u> <u>2.10(a)</u> or <u>(b)</u> and (subject to clause (A) below) <u>Section</u> <u>2.11(a)</u> and (y) prepayments of Initial Term Notes and Additional Term Notes to the extent (and only to the extent) made with the Net Proceeds of a Prepayment Asset Sale or Net Insurance/Condemnation Proceeds that resulted in an increase to Consolidated Net Income and not in excess of the amount of such increase, but excluding (A) the amount of all deductions and reductions to the amount of mandatory prepayments pursuant to <u>clause (B)</u> of <u>Section</u> <u>2.11(b)(i)</u>, (B) all other repayments or prepayments of the Initial Term Notes or Additional Term Notes and (C) repayments of the Variable Notes, any Additional Variable Notes or notes or loans under any variable note or loan or arrangement, except to the extent a corresponding amount of the commitments under such variable note or arrangement are permanently reduced in connection with such repayments), in each case, to the extent not financed with long-term Indebtedness (other than revolving Indebtedness), *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;(ii) without duplication of amounts deducted from Excess Cash Flow pursuant to this <u>clause (ii)</u> or <u>clause (ix)</u> below in respect of a prior period, all Cash payments in respect of capital expenditures as would be reported in the Issuer's consolidated statement of cash flows made during such period and, at the option of the Issuer, any Cash payments in respect of any such capital expenditures made after such period and prior to the date of the applicable Excess Cash Flow payment (except, in each case, to the extent financed with long-term Indebtedness (other than revolving Indebtedness)), *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;(iii) consolidated interest expense added back pursuant to <u>clause (b)(ii)</u> of the definition of "Consolidated Adjusted EBITDA" to the extent paid in Cash, *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;(iv) Taxes (including, without duplication, tax payments made pursuant to Tax Sharing Agreements with Affiliates to the extent permitted by Section 6.04, and any Permitted Tax Distributions) paid and provisions for Taxes, to the extent payable in Cash with respect to such period and added back pursuant to clause (b)(i) of the definition of "Consolidated Adjusted EBITDA", *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;(v) without duplication of amounts deducted from Excess Cash Flow pursuant to this <u>clause (v)</u> or <u>(ix)</u> below in respect of a prior period, Cash payments made during such period in respect of Permitted Acquisitions and other Investments permitted by <u>Section</u> <u>6.06</u> or otherwise consented to by the Required Holders (other than Investments in (x) Cash and Cash Equivalents and (y) the Issuer or any of their Restricted Subsidiaries), or, at the option of the Issuer, any Cash payments in respect of Permitted Acquisitions and other Investments permitted by <u>Section</u> <u>6.06</u> or otherwise consented to by the Required Holders (other than Investments in (x) Cash and Cash Equivalents and (y) the Issuer or any of their Restricted Subsidiaries) made after such period and prior to the date of the applicable Excess Cash Flow payment (except, in each case, to the extent financed with long-term Indebtedness (other than revolving Indebtedness)), *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;(vi) the aggregate amount of all Restricted Payments made under <u>Sections</u> <u>6.04(a)(i)</u>, <u>(ii)</u>, <u>(iv)</u> and <u>(x)</u> or otherwise consented to by the Required Holders, in each case to the extent actually paid in Cash during such period, or, at the option of the Issuer (without duplication of amounts deducted from Excess Cash Flow in respect of a prior period), made after such period and prior to the date of the applicable Excess Cash Flow payment (except, in each case, to the extent financed with long-term Indebtedness (other than revolving Indebtedness)), *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;(vii) amounts added back under <u>clause</u> <u>(b)(ix)(B)(2)</u> or <u>(b)(xxi)</u> of the definition of "Consolidated Adjusted EBITDA" to the extent such amounts have not yet been received by the Issuer or their Restricted Subsidiaries, *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;(viii) an amount equal to all expenses, charges and losses either (A) excluded in calculating Consolidated Net Income or (B) added back in calculating Consolidated Adjusted EBITDA, in the case of <u>clauses (A)</u> and <u>(B)</u>, to the extent paid in Cash, *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;(ix) without duplication of amounts deducted from Excess Cash Flow in respect of a prior period, at the option of the Issuer, the aggregate consideration required to be paid in Cash by the Issuer or their Restricted Subsidiaries pursuant to binding contracts (the "**Contract Consideration**") entered into prior to or during such period relating to capital expenditures, acquisitions or Investments, in each case permitted by <u>Section</u> <u>6.06</u> (other than Investments in (x) Cash and Cash Equivalents and (y) the Issuer or any of its Restricted Subsidiaries) to be consummated or made during the period of four consecutive Fiscal Quarters of the Issuer following the end of such period (except, in each case, to the extent financed with long-term Indebtedness (other than revolving Indebtedness)); <u>provided</u> that to the extent the aggregate amount actually utilized to finance such capital expenditures, acquisitions or Investments during such subsequent period of four consecutive Fiscal Quarters is less than the Contract Consideration, the amount of the resulting shortfall shall be added to the calculation of Excess Cash Flow at the end of such subsequent period of four consecutive Fiscal Quarters, *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;(x) to the extent not expensed (or exceeding the amount expensed) during such period or not deducted (or exceeding the amount deducted) in calculating Consolidated Net Income, the aggregate amount of expenditures, fees, costs and expenses paid in Cash by the Issuer and their Restricted Subsidiaries during such period, other than to the extent financed with long-term Indebtedness (other than revolving Indebtedness), *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;(xi) Cash payments (other than in respect of Taxes, which are governed by <u>clause (iv)</u> above) made during such period for any liability the accrual of which in a prior period did not increase Excess Cash Flow in such prior period (<u>provided</u> there was no other add-back to Consolidated Adjusted EBITDA or deduction to Excess Cash Flow related to such payment), except to the extent financed with long-term Indebtedness (other than revolving Indebtedness), *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;(xii) Cash expenditures made in respect of any Hedge Agreement during such period to the extent (A) not otherwise deducted in the calculation of Consolidated Net Income or added back to Consolidated Adjusted EBITDA and (B) not financed with long-term Indebtedness (other than revolving Indebtedness), *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;(xiii) amounts paid in Cash (except to the extent financed with long-term Indebtedness (other than revolving Indebtedness)) during such period on account of (A) items that were accounted for as non-Cash reductions of Consolidated Net Income or Consolidated Adjusted EBITDA in a prior period (and were not expensed during such period in calculating Consolidated Net Income or added back in the calculation of Consolidated Adjusted EBITDA) and (B) reserves or amounts established in purchase accounting to the extent such reserves or amounts are added back to, or not deducted from, Consolidated Net Income, *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;(xiv) without duplication of clause (b)(i) above, cash payments made by Holdings or its Restricted Subsidiaries during such period in respect of legal settlements and long-term liabilities, including for purposes of clarity, the current portion of any such liabilities (other than Indebtedness) of the Issuer or their Restricted Subsidiaries, except to the extent such cash payments were (A) deducted in the calculation of Consolidated Net Income or added back to Consolidated Adjusted EBITDA for such period, (B) financed with long-term Indebtedness (other than revolving Indebtedness), (C) made using Cash or Cash Equivalents reserved or designated for such purpose in a prior period (to the extent such reservation or designation actually decreased Excess Cash Flow for such period), or (D) consisting of the Specified Settlement Payments.

"**Exchange Act**" means the Securities Exchange Act of 1934 and the rules and regulations of the SEC promulgated thereunder.

"**Excluded Account**" means (a) any Deposit Account or Securities Account that constitutes an Excluded Asset, (b) zero-balance accounts and (c) other Deposit Accounts or Securities Accounts the aggregate cash balance of which is less than $50,000,000 across all such accounts. For the avoidance of doubt, the Original DACA Account (and any replacement account agreed by the Administrative Agent from time to time) shall not be deemed to be an Excluded Account irrespective of the cash balances held therein.

"**Excluded Assets**" means each of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any contract, instrument, lease, licenses, agreement or other document as to which the grant of a security interest would (i) constitute a violation of a restriction in favor of a third party (other than Indivior PLC, Holdings<u>any Parent Company</u>, the Issuer or any of their Restricted Subsidiaries) or result in the abandonment, invalidation or unenforceability of any right of the relevant Note Party, unless and until any required consents shall have been obtained, or (ii) result in a breach, termination (or a right of termination) or default under such contract, instrument, lease, license, agreement or other document (including pursuant to any "change of control" or similar provision); <u>provided</u>, <u>however</u>, that any such asset will only constitute an Excluded Asset under <u>clause (i)</u> or <u>clause</u> <u>(ii</u>) above to the extent such violation or breach, termination (or right of termination) or default would not be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law; <u>provided</u> <u>further</u> that any such asset shall cease to constitute an Excluded Asset at such time as the condition causing such violation, breach, termination (or right of termination) or default or right to amend or require other actions no longer exists and to the extent severable, the security interest granted under the applicable Collateral Document shall attach immediately to any portion of such contract, instrument, lease, license, agreement or document that does not result in any of the consequences specified in <u>clauses (i)</u> and (<u>ii</u>) above,

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by the execution and delivery by any Note Party owning such Capital Stock of a fixed and floating charge or similar instrument providing for the creation of a security interest in all or substantially all of the assets of such Note Party under the laws of any applicable jurisdiction), (iii) not-for-profit subsidiary, and (iv) Special Purpose Securitization Subsidiary,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any intent-to-use (or similar) Trademark application prior to the filing and acceptance of a "Statement of Use", "Amendment to Allege Use" or similar filing with respect thereto, only to the extent, if any, that, and solely during the period, in which, if any, the grant of a security interest therein may impair the validity or enforceability of such intent-to-use Trademark application under applicable law,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any asset or property, the grant or perfection of a security interest in which would (A) require any governmental consent, approval, license or authorization that has not been obtained, (B) be prohibited by enforceable anti-assignment provisions of applicable Requirements of Law, except, in the case of this <u>clause (B)</u>, to the extent such prohibition would be rendered ineffective under the UCC or other applicable law notwithstanding such prohibition, or (C) be prohibited by enforceable anti-assignment provisions of contracts governing such asset in existence on the Closing Date (or on the date of acquisition of the relevant asset (and in each case not entered into in anticipation of the Closing Date or such acquisition and except, in each case, to the extent that term in such contract providing for such prohibition purports to prohibit the granting of a security interest over all assets of such Note Party or any other Note Party)) other than to the extent such prohibition would be rendered ineffective under the UCC or other applicable law,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) (i) any leasehold Real Estate Asset and (ii) any owned Real Estate Asset that is not a Material Real Estate Asset,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any interest in any partnership, joint venture or non-Wholly-Owned Subsidiary which cannot be pledged without (i) the consent of one or more third parties other than IndiviorPLC, Holdings<u>any Parent Company</u>, the Issuer or any of their Restricted Subsidiaries (after giving effect to Section 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law) or (ii) giving rise to a "right of first refusal", a "right of first offer" or a similar right that may be exercised by any third party (other than IndiviorPLC, Holdings<u>any Parent Company</u>, the Issuer or any of their Restricted Subsidiaries),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) any Margin Stock,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) deposits accounts and cash collateral securing obligations owing to the Issuer of letters of credit permitted under Section 6.01(c),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Commercial Tort Claims with a value (as reasonably estimated by the Issuer) of less than $5,000,000,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) any Cash or Cash Equivalents comprised of (a) funds specially and exclusively used or to be used for payroll and payroll Taxes and other employee benefit payments to or for the benefit of any Note Party's employees, (b) funds used or to be used to pay all Taxes required to be collected, remitted or withheld (including U.S. federal and state withholding Taxes (including the employer's share thereof)) and (c) any other funds which any Note Party holds as an escrow or fiduciary for the benefit of another Person,

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) any accounts receivable and related assets that are sold or disposed of in connection with any factoring or similar arrangement permitted by this Agreement, including Permitted Securitization Financings,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) any asset with respect to which the Administrative Agent and the relevant Note Party have reasonably determined that the cost, burden, difficulty or consequence (including (i) any effect on the ability of the relevant Note Party to conduct its operations and business in the ordinary course of business or (ii) any material adverse tax effect to the Issuer or a Subsidiary or Affiliate of the Issuer) of obtaining or perfecting a security interest therein outweighs the benefit of a security interest to the relevant Secured Parties afforded thereby.

"**Excluded Debt Contribution**" has the meaning assigned to such term in <u>Section</u> <u>6.01(r)</u>

"**Excluded Subsidiary**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any Restricted Subsidiary that is not a Wholly-Owned Subsidiary,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any Immaterial Subsidiary,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any Restricted Subsidiary that is prohibited by law, regulation or contractual obligation existing on the Closing Date or at the time such Restricted Subsidiary becomes a subsidiary (which Contractual Obligation was not entered into in contemplation of such Restricted Subsidiary becoming a subsidiary) from providing a Note Guaranty or that would require a governmental (including regulatory) consent, approval, license or authorization to provide a Note Guaranty (unless such consent has been received, <u>provided</u> that the Issuer shall not be under any obligation to seek such consent),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) any not-for-profit subsidiary,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) any Special Purpose Securitization Subsidiary,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any captive insurance subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) any Unrestricted Subsidiary,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) in the case of any obligation under any Swap Obligation, any Subsidiary of the Issuer that is not an "Eligible Contract Participant" as defined under the Commodity Exchange Act (determined after giving effect to Section 3.21 of the Note Guaranty and any other "keepwell" support or other agreement for the benefit of such Subsidiary, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any other Restricted Subsidiary with respect to which, in the reasonable judgment of the Administrative Agent and the Issuer, the burden or cost of providing a Note Guaranty (including any material adverse tax effect to the Issuer or a Subsidiary or Affiliate of the Issuer) outweighs the benefits afforded thereby.

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"**Excluded Swap Obligation**" means, with respect to any Guarantor under the Note Guaranty, any Swap Obligation if, and to the extent that, all or a portion of the Note Guaranty of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any Note Guaranty thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor's failure for any reason to constitute an "eligible contract participant" as defined in the Commodity Exchange Act and the regulations thereunder (determined after giving effect to Section 3.21 of the Note Guaranty and any other "keepwell," support or other agreement for the benefit of such Guarantor) at the time the Note Guaranty of such Guarantor 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 Note Guaranty or security interest is or becomes illegal.

"**Excluded Taxes**" means, with respect to the Administrative Agent or any Holder, or any other recipient of any payment to be made by or on account of any obligation of any Note Party hereunder, (a) Taxes imposed on (or measured by) its net income (however denominated), profits, gains or net assets, franchise Taxes, in each case (i) imposed as a result of the Administrative Agent, any Holder, or any other recipient of any payment to be made by or on account of any obligation of any Note Party hereunder, as applicable, being organized under the laws of, or having its principal office or, in the case of any Holder, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or in which it is resident for tax purposes or (ii) that are Other Connection Taxes, (b) any branch profits Taxes imposed under Section 884(a) of the Code or any similar Tax imposed by any other jurisdiction, (c) in the case of any Holder, any U.S. federal withholding Tax that is imposed on amounts payable to such Holder pursuant to a Requirement of Law in effect on the date on which (i) such Holder acquires such interest in a Note or Commitment (other than pursuant to an assignment request by the Issuer under <u>Section</u> <u>2.19(b))</u> or (ii) such Holder changes its lending office, except in each case to the extent that such Foreign Holder (or its assignor, if any) was entitled, immediately prior to the designation of a new lending office (or assignment), to receive additional amounts from any Note Party with respect to such withholding Tax pursuant to <u>Section</u> <u>2.17</u>, (d) any Tax imposed as a result of a failure by the Administrative Agent, any Holder, or any other recipient of any payment to be made by or on account of any obligation of any Note Party hereunder to comply with <u>Section</u> <u>2.17(k)</u> and (e) any withholding Taxes under FATCA.

"**Existing Credit Agreement**" means that certain Credit Agreement, dated as of December 19, 2014 (as amended by that certain First Amendment to Credit Agreement, dated as of March 16, 2015, that certain Second Amendment to Credit Agreement, dated as of December 18, 2017, that certain Third Amendment to Credit Agreement, dated as of June 30, 2021, and that certain Fourth Amendment to Credit Agreement, dated as of April 27, 2022), by and among the Issuer, the lenders from time to time party thereto, Morgan Stanley Senior Funding, Inc., as administrative agent and collateral agent, and the other parties party thereto.

"**Existing Intercompany Debt**" means the "Intercompany Proceeds Note" as defined in the Existing Credit Agreement.

"**Extended Term Notes**" has the meaning assigned to such term in <u>Section</u> <u>2.23(a)</u>.

"**Extended Variable Note Commitment**" has the meaning assigned to such term in <u>Section</u> <u>2.23(a)(ii)</u>.

"**Extended Variable Notes**" has the meaning assigned to such term in <u>Section</u> <u>2.23(a)(ii)</u>.

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"**Extension**" has the meaning assigned to such term in <u>Section</u> <u>2.23(a)</u>.

"**Extension Offer**" has the meaning assigned to such term in <u>Section</u> <u>2.23(a)</u>.

"**Failed Auction**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**FATCA**" means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code (or any amended or successor version described above), and any treaty, law, regulation, official guidance, or practices adopted in any other jurisdiction relating to any intergovernmental agreement between the U.S. and any other jurisdiction that facilitates the implementation of such Sections of the Code.

"**FCPA**" has the meaning assigned to such term in <u>Section</u> <u>3.19</u>.

"**FDA**" means the U.S. Food and Drug Administration, any comparable state or local Governmental Authority, any comparable Governmental Authority in any non-United States jurisdiction, and any successor agency of any of the foregoing.

"**Federal Funds Effective Rate**" means, for any day, the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for such day for such transactions received by Administrative Agent from three Federal funds brokers of recognized standing selected by it; <u>provided</u>, that, if the Federal Funds Effective Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

"**Fee Letters**" means the Agent Fee Letter and the Purchaser Fee Letter.

"**Financial Support Direction**" means a financial support direction issued by the Pensions Regulator under section 43 of the Pensions Act 2004.

<u>"**First Amendment**" means that certain First Amendment to Note Purchase Agreement, dated as of January 21, 2026, by and among the Issuer, the Administrative Agent, the Collateral Agent, and the Holders party thereto.</u>

<u>"**First Amendment Effective Date**" has the meaning assigned to such term in the First Amendment.</u>

"**First Lien Leverage Ratio**" means the ratio, as of any date of determination, of (a)(i) Consolidated First Lien Debt as of such date *minus* (ii) Cash and Cash Equivalents of the Issuer and the other Note Parties in an amount not to exceed $50,000,000 to (b) Consolidated Adjusted EBITDA for the Test Period then most recently ended or the Test Period otherwise specified where the term "First Lien Leverage Ratio" is used in this Agreement, in each case for Holdings and its Restricted Subsidiaries on a consolidated basis. 

"**First Lien/Second Lien Intercreditor Agreement**" means an intercreditor agreement substantially in the form of <u>Exhibit O</u> hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Issuer, as such document may be amended, restated, supplemented or otherwise modified from time to time.

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"**First Priority**" means, with respect to any Lien purported to be created in any Collateral pursuant to any Collateral Document, that, subject to any applicable Intercreditor Agreement such Lien is senior in priority to any other Lien to which such Collateral is subject, other than any Permitted Lien (excluding any Permitted Lien that is expressly required by this Agreement to be subordinated to the Liens purported to be created in any Collateral pursuant to any Collateral Document).

"**Fiscal Quarter**" means a fiscal quarter of any Fiscal Year.

"**Fiscal Year**" means the fiscal year of the Issuer ending December 31 of each calendar year.

"**Fixed Amounts**" has the meaning assigned to such term in <u>Section</u> <u>1.12(c)</u>.

"**Flood Hazard Property**" means any parcel of any Material Real Estate Asset subject to a Mortgage located in the U.S. in an area designated by the Federal Emergency Management Agency as having special flood or mud slide hazards.

"**Flood Insurance Laws**" means, collectively, (i) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (ii) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statue thereto, (iii) the National Flood Insurance Reform Act of 1994 as now or hereafter in effect or any successor statute thereto, (iv) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto and (iv) Biggert-Waters Flood Insurance Reform Act of 2012 as now or hereafter in effect or any successor statute thereto.

"**Floor**" shall mean a rate of interest equal to 0.75% per annum.

"**Foreign Holder**" means any Holder that is not a "United States person" within the meaning of Section 7701(a)(30) of the Code.

"**Foreign Note Party**" has the meaning assigned to such term in <u>Section</u> <u>9.23</u>.

"**Foreign Subsidiary**" means any Restricted Subsidiary that is not a Domestic Subsidiary.

"**Funding Account**" has the meaning assigned to such term in <u>Section</u> <u>2.03(g)</u>.

"**GAAP**" means generally accepted accounting principles in the U.K., including IFRS, in effect and applicable to the accounting period in respect of which reference to GAAP is made; <u>provided</u>, however, that Issuer may (or may as a result of the election of the Parent Company) at any time, upon no less than 10 days written notice to the Administrative Agent, make a one-time irrevocable election to prepare its financial statements in accordance with generally accepted accounting principles in the United States, in which case "GAAP" shall, from and after the date of such election (to be set forth in such written notice) mean generally accepted accounting principles in the United States, in effect and applicable to the accounting period in respect of which reference to GAAP is made; <u>provided</u> that, if the Issuer notifies the Administrative Agent that it requests an amendment to any provision hereof to eliminate the effect of any change occurring as a result of the adoption of generally accepted accounting principles in the United States or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Issuer that the Administrative Agent or the Required Holders request an amendment to any provision hereof for such purpose), then such provision shall be interpreted on the basis of IFRS as otherwise required above (and without regard to this sentence) until such notice shall have been withdrawn or such provision amended in accordance herewith.

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"**General Intangibles**" has the meaning set forth in Article 9 of the UCC.

"**Global Intercompany Note**" means the Global Intercompany Note in the form attached hereto as <u>Exhibit H</u>.

"**Governmental Authority**" means any federal, state, municipal, national or other government, governmental department, commission, board, bureau, court, agency or instrumentality or political subdivision thereof or any entity or officer exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to any government or any court, in each case whether associated with a state or locality of the U.S., the U.S., or a foreign government or any other political subdivision thereof (including any supra-national bodies such as the European Union or the European Central Bank).

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

"**Granting Holder**" has the meaning assigned to such term in <u>Section</u> <u>9.05(e)</u>.

"**Guarantee**" of or by any Person (the "**Guarantor**") means any obligation, contingent or otherwise, of the Guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other monetary obligation of any other Person (the "**Primary Obligor**") in any manner and including any obligation of the Guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other monetary obligation or to purchase (or to advance or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other monetary obligation of the payment thereof, (c) to maintain working capital, equity capital or any other financial statement condition or liquidity of the Primary Obligor so as to enable the Primary Obligor to pay such Indebtedness or other monetary obligation, (d) as an account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness or monetary obligation, (e) 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 (f) secured by any Lien on any assets of such Guarantor securing any Indebtedness or other monetary obligation of any other Person, whether or not such Indebtedness or monetary other obligation is assumed by such Guarantor (or any right, contingent or otherwise, of any holder of such Indebtedness or other monetary obligation to obtain any such Lien); <u>provided</u> that the term "Guarantee" shall not include endorsements for collection or deposit 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, Disposition or other transaction 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, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith.

"**Hazardous Materials**" means any chemical, material, substance or waste, or any constituent thereof, which is prohibited, limited or regulated as "toxic", "hazardous" or as a "pollutant" or "contaminant" or words of similar meaning or effect by any Environmental Law or any Governmental Authority.

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

"**Hedge Agreement**" means any agreement with respect to any Derivative Transaction between any Note Party or any Restricted Subsidiary and any other Person.

"**Hedging Obligations**" means, with respect to any Person, the obligations of such Person under any Hedge Agreement. 

"**Holders**" means the Term Holders, the Variable Note Holders, any Additional Purchaser, any holder with an Additional Note Commitment or an outstanding Additional Note and any other Person that becomes a party hereto pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption or as a result of any termination of Commitments and/or prepayment or repayment of Notes permitted or required hereunder.

"**Holdings**" means Indivior Global Holdings Limited.

"**IFRS**" means the International Financial Reporting Standards promulgated from time to time by the International Accounting Standards Board (or any successor board or agency, together the "<u>IASB</u>") and as adopted in the United Kingdom and statements and pronouncements of the IASB or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect from time to time.

"**Immaterial Subsidiary**" means, as of any date, any Restricted Subsidiary of the Issuer (a) that does not have assets in excess of 5.0% of Consolidated Total Assets of Holdings and its Restricted Subsidiaries and (b) that does not contribute Consolidated Adjusted EBITDA in excess of 5.0% of the Consolidated Adjusted EBITDA of Holdings and its Restricted Subsidiaries, in each case, as of the last day of the most recently ended Test Period; <u>provided</u> that the Consolidated Total Assets and Consolidated Adjusted EBITDA (as so determined) of all Immaterial Subsidiaries shall not exceed 10.0% of Consolidated Total Assets and 10.0% of Consolidated Adjusted EBITDA, in each case, of Holdings and its Restricted Subsidiaries for the relevant Test Period; <u>provided</u> <u>further</u> that, at all times prior to the first delivery of financial statements pursuant to <u>Section</u> <u>5.01(a)</u> or <u>(b)</u>, this definition shall be applied based on the pro forma consolidated financial statements of Indivior PLC delivered pursuant to <u>Section</u> <u>4.01</u>. As of the Closing Date, all Immaterial Subsidiaries are denoted as such on <u>Schedule</u> <u>3.13</u>.

"**Immediate Family Member**" means, with respect to any individual, such individual's child, stepchild, grandchild or more remote descendant, parent, stepparent, grandparent, spouse, former spouse, domestic partner, former domestic partner, sibling, mother-in-law, father-in-law, son-in-law and daughter-in-law (including adoptive relationships), any trust, partnership or other bona fide estate-planning vehicle the only beneficiaries of which are any of the foregoing individuals, such individual's estate (or an executor or administrator acting on its behalf), heirs or legatees or any private foundation or fund that is controlled by any of the foregoing individuals or any donor-advised fund of which any such individual is the donor.

"**Increased Cost**" has the meaning assigned to such term in <u>Section</u> <u>2.15</u>.

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"**Incremental Cap**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (i) the greater of (x) $255,000,000 and (y) 75.0% of Consolidated Adjusted EBITDA for the Test Period then most recently ended *less* (ii) the aggregate principal amount of all Incremental Facilities and Incremental Equivalent Debt incurred or issued in reliance on <u>clause (a)(i)</u> of this definition, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the case of any Incremental Note Facility that effectively extends the Maturity Date with respect to any Class of Notes and/or commitments hereunder, an amount equal to the portion of the relevant Class of Notes or commitments that will be replaced by such Incremental Note Facility, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) in the case of any Incremental Variable Note Commitment that effectively replaces any Variable Note Commitment terminated in accordance with <u>Section</u> <u>2.19(b)</u>, an amount equal to the relevant terminated Variable Note Commitment, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the amount of any optional prepayment of any Note in accordance with <u>Section</u> <u>2.11(a)</u> and/or the amount of any permanent reduction of any Variable Note Commitment or Additional Variable Note Commitment so long as, in the case of any optional prepayment, such prepayment was not funded (i) with the proceeds of any long-term Indebtedness (other than revolving Indebtedness) or (ii) with the proceeds of any Incremental Variable Note Commitment incurred in reliance on <u>clause (b)</u> above, *plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) an unlimited amount so long as, in the case of this <u>clause</u> <u>(e)</u>, (i) if such Incremental Note Facility is secured by a Lien on all or any portion of the Collateral that ranks *pari passu* with the Lien securing the Secured Obligations on the Closing Date, the First Lien Leverage Ratio would not exceed 1.00:1.00 on a Pro Forma Basis (it being understood and agreed that any Indebtedness incurred under this clause (e)(i), together with any permitted refinancing indebtedness (and successive permitted refinancing indebtedness) with respect thereto, shall at all times be included in the calculation of the First Lien Leverage Ratio unless such Indebtedness is separately justified under clause (e)(ii) below) or (ii) if such Incremental Note Facility is unsecured or secured by a Lien on all or any portion the Collateral that ranks junior to the Lien securing the Secured Obligations on the Closing Date, the Total Leverage Ratio would not exceed 2.50:1.00 on a Pro Forma Basis, in each case of <u>clauses (i)</u> through <u>(ii)</u>, calculated on a Pro Forma Basis, including the application of the proceeds thereof (determined on the basis of the financial statements for the most recently ended Test Period), and, in the case of any Incremental Variable Note, assuming a full drawing under such Incremental Variable Note.

Any Incremental Note Facility shall be deemed to have been incurred in reliance on <u>clause (d)</u> above (to the extent capacity exists thereunder) prior to any amounts under <u>clause (a)</u> or <u>(e)</u> above. Any Incremental Note Facility shall be deemed to have been incurred in reliance on <u>clause (e)</u> (to the extent capacity exists thereunder) above prior to any amounts under <u>clause (a)</u> above, unless the Issuer specifies otherwise.

"**Incremental Equivalent Debt**" has the meaning assigned to such term in <u>Section</u> <u>6.01(z)</u>.

"**Incremental Note Facilities**" has the meaning assigned to such term in <u>Section</u> <u>2.22(a)</u>.

"**Incremental Notes**" has the meaning assigned to such term in <u>Section</u> <u>2.22(a)</u>.

"**Incremental Note Request**" has the meaning assigned to such term in <u>Section</u> <u>2.22(a)</u>.

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"**Incremental Term Note Borrowing Date**" means, with respect to each Class of Incremental Term Notes, each date on which Incremental Term Notes of such Class are specified in any amendment providing for such Class of Incremental Term Notes in accordance with <u>Section</u> <u>2.22</u>.

"**Incremental Term Note Facility**" has the meaning assigned to such term in <u>Section</u> <u>2.22(a)</u>.

"**Incremental Term Note**" has the meaning assigned to such term in <u>Section</u> <u>2.22(a)</u>.

"**Incremental Term Note Holder**" means, with respect to any Incremental Term Note, each Term Holder providing any portion of such Incremental Term Note Commitment.

"**Incremental Variable Note**" has the meaning assigned to such term in <u>Section</u> <u>2.22(a)</u>.

"**Incremental Variable Note Borrowing Date**" means, with respect to each Class of Incremental Variable Notes, each date on which Incremental Variable Notes of such Class are specified in any amendment providing for such Class of Incremental Variable Notes in accordance with <u>Section</u> <u>2.22</u>.

"**Incremental Variable Note Facility**" has the meaning assigned to such term in <u>Section</u> <u>2.22(a)</u>.

"**Incremental Variable Note Holder**" means, with respect to any Incremental Variable Note, each Variable Note Holder providing any portion of such Incremental Variable Note Commitment.

"**Incurrence-Based Amounts**" has the meaning assigned to such term in <u>Section</u> <u>1.12(c)</u>.

"**Indebtedness**" as applied to any Person means, without duplication, (a) all indebtedness for borrowed money; (b) that portion of obligations with respect to Capital Leases to the extent recorded as a liability on a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; (c) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments to the extent the same would appear as a liability on a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; (d) any obligation owed for all or any part of the deferred purchase price of property or services (excluding (w) any earn out obligation or purchase price adjustment until such obligation (A) becomes a liability on the statement of financial position or balance sheet (excluding the footnotes thereto) in accordance with GAAP and (B) has not been paid within 30 days after becoming due and payable, (x) any such obligations incurred under ERISA, (y) accrued expenses and trade accounts payable in the ordinary course of business (including on an inter-company basis) and (z) liabilities associated with customer prepayments and deposits), which purchase price is (i) due more than six months from the date of incurrence of the obligation in respect thereof or (ii) evidenced by a note or similar written instrument; (e) all Indebtedness of others secured by any Lien on any property or asset owned or held by such Person regardless of whether the Indebtedness secured thereby shall have been assumed by such Person or is non-recourse to the credit of such Person; (f) the face amount of any letter of credit issued for the account of such Person or as to which such Person is otherwise liable for reimbursement of drawings; (g) the Guarantee by such Person of the Indebtedness of another; (h) all obligations of such Person in respect of any Disqualified Capital Stock and (i) all net obligations of such Person in respect of any Derivative Transaction, including any Hedge Agreement, whether or not entered into for hedging or speculative purposes; <u>provided</u> that (i) in no event shall obligations under any Derivative Transaction be deemed "Indebtedness" for any calculation of any financial ratio under this Agreement (except to the extent of any unpaid or settlement amounts then due thereunder) and (ii) the amount of Indebtedness of any Person for purposes of <u>clause (e)</u> shall be deemed to be equal to the lesser of (A) the aggregate unpaid amount of such Indebtedness and (B) the fair market value of the property encumbered thereby as determined by such

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"**Indemnified Person**" has the meaning assigned to such term in <u>Section</u> <u>9.03(b)</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 Note Party under any Notes Document and (b) to the extent not otherwise described in clause (a), Other Taxes.

"**Information**" has the meaning set forth in <u>Section</u> <u>3.11(a)</u>.

"**Initial Term Note Commitment**" means, with respect to each Term Holder, the commitment of such Term Holder to make Initial Term Notes hereunder in an aggregate amount not to exceed the amount set forth opposite such Term Holder's name on the Commitment Schedule, as the same may be (a) reduced from time to time pursuant to <u>Section</u> <u>2.09</u> and (b) reduced or increased from time to time pursuant to (i) assignments by or to such Term Holder pursuant to <u>Section</u> <u>9.05</u> or (ii) an Additional Term Note Commitment providing for the making of additional Initial Term Notes. The aggregate amount of the Term Holders' Initial Term Note Commitments is $350,000,000.

"**Initial Term Note Maturity Date**" means the date that is six years after the Closing Date. If such date is not a Business Day, the immediately preceding Business Day.

"**Initial Term Notes**" means the term notes issued by the Issuer to the Term Holders pursuant to <u>Section</u> <u>2.01</u>.

"**Intercreditor Agreement**" means any Permitted Junior Intercreditor Agreement or any Permitted Pari Passu Intercreditor Agreement.

"**Interest Coverage Ratio**" means the ratio, as of any date of determination, of (a) Consolidated Adjusted EBITDA for the Test Period then most recently ended to (b) Interest Expense paid in cash during such Test Period in each case for Holdings and its Restricted Subsidiaries.

"**Interest Election Request**" means a written request by the Issuer in the form of <u>Exhibit</u> <u>D</u> or another form reasonably acceptable to the Administrative Agent to convert or continue a Borrowing in accordance with <u>Section</u> <u>2.08</u>.

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"**Interest Expense**" means, at any date of determination, on a consolidated basis in accordance with GAAP, the total interest expense for such period, including without limitation, the interest component of any payments in respect of Capital Lease obligations paid in such period, in each case for Holdings and its Restricted Subsidiaries.

"**Interest Payment Date**" means (a) with respect to any ABR Note, the last Business Day of each March, June, September and December and the Variable Note Maturity Date or the maturity date applicable to such Note and (b) with respect to any SOFR Note, the last day of the Interest Period applicable to the Borrowing of which such Note is a part and, in the case of a SOFR Borrowing with an Interest Period of more than three months' duration, each day that would have been an Interest Payment Date had successive Interest Periods of three months' duration been applicable to such Borrowing.

"**Interest Period**" means with respect to any SOFR Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, three or six months thereafter, as the applicable Issuer may elect (in each case, subject to the availability thereof); <u>provided</u>, that the initial Interest Period shall begin on the Closing Date and end on December 31, 2024; <u>provided</u> that (i) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the immediately preceding Business Day, (ii) any Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period and (iii) no tenor that has been removed from this definition pursuant to <u>Section</u> <u>2.14(b)(iv)</u> shall be available for specification in any Borrowing Request or Interest Election Request. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing.

"**Investment**" means (a) any purchase or other acquisition by the Issuer or any of its Restricted Subsidiaries of any of the Securities of any other Person other than any Note Party (other than Holdings), (b) the acquisition by purchase or otherwise (other than any purchase or other acquisition of inventory, materials, supplies and/or equipment in the ordinary course of business) of all or a substantial portion of the business, property or fixed assets of any other Person or any division or line of business or other business unit of any other Person, (c) any loan, advance (other than any advance to any current or former employee, officer, director, member of management, manager, consultant or independent contractor of the Issuer, any Restricted Subsidiary or any Parent Company for moving, entertainment and travel expenses, drawing accounts and similar expenditures in the ordinary course of business) or capital contribution by the Issuer or any of its Restricted Subsidiaries to any other Person or (d) any Guarantee of the Indebtedness of any Person by the Issuer or any of its Restricted Subsidiaries. Subject to <u>Section</u> <u>5.10</u>, the amount of any Investment shall be the original cost of such Investment, *plus* the cost of all additions thereto, without any adjustments for increases or decreases in value, or write-ups, write-downs or write-offs with respect thereto, but giving effect to any repayments of principal in the case of any Investment in the form of a loan and any return of capital or return on Investment in the case of any equity Investment (whether as a distribution, dividend, redemption or sale but not in excess of the amount of the relevant initial Investment).

"**IP Rights**" has the meaning assigned to such term in <u>Section</u> <u>3.05(c)</u>.

"**Irish Companies Act**" means the Companies Act 2014 of Ireland.

"**Irish Group Member**" means the Irish Guarantor and each Restricted Subsidiary incorporated under the laws of Ireland.

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"**Irish Guarantor**" means Indivior Europe Limited, a private limited company incorporated in Ireland with registered number 616151 and its registered office at 27 Windsor Place, Lower Pembroke Street, Dublin 2, D02 DK44, Ireland.

"**Irish Note Party**" means a Note Party incorporated under the laws of Ireland.

"**Irish Security Documents**" means (a) the Irish law governed debenture dated as of the Closing Date between the Irish Guarantor as chargor and the Administrative Agent as the security trustee for the benefit of the Secured Parties, (b) the equitable charge over shares in the Irish Guarantor dated as of the Closing Date between Indivior UK Limited and the Administrative Agent as the security trustee for the benefit of the Secured Parties and (c) each other Irish law governed document or instrument which creates or evidences or which is expressed to create or evidence any Lien granted or required to be granted pursuant to <u>Section</u> <u>5.12</u> and/or the definition of "Collateral and Guarantee Requirement", or which is entered into by Holdings or any subsidiary of Holdings to create or evidence, or which is expressed to create or evidence, security for the Secured Obligations.

**"Irish Security Trust Deed"** means the Irish law security trust deed dated as of the Closing Date and entered into by the security trustee, Indivior UK Limited and the Irish Guarantor, whereby, *inter alia*, the Administrative Agent declares the rights, interests, benefits and other property comprised in the Liens the subject of the Irish Security Documents to be held on trust for the other Secured Parties, together with each accession agreement with respect thereto.

"**IRS**" means the U.S. Internal Revenue Service or any successor agency or department with primary responsibility for adopting, interpreting and enforcing provisions of the Code.

"**Issuer**" has the meaning assigned to such term in the preamble to this Agreement.

"**ITA**" means the Income Tax Act 2007.

ARTICLE 10"**Jersey Group Member**" means each Note Party and Restricted Subsidiary organized under the laws of Jersey and required to become a Note Party pursuant to Section 5.12.

"**Jersey Security Documents**" means, if any, each Jersey law governed document or instrument which creates or evidences or which is expressed to create or evidence any Lien granted or required to be granted pursuant to Section 5.12 and/or the definition of "Collateral and Guarantee Requirement", or which is entered into by Holdings or any subsidiary of Holdings to create or evidence, or which is expressed to create or evidence, security for the Secured Obligations.

"**Jersey Security Trust Instrument**" means, if any, the Jersey law security trust instrument to be entered into by Administrative Agent as security trustee, the Issuer and each Jersey Group Member, whereby, inter alia, the Administrative Agent declares the rights, interests, benefits and other property comprised in the Liens the subject of the Jersey Security Documents to be held on trust for the other Secured Parties, together with each accession agreement with respect thereto.

"**Judgment Currency**" has the meaning assigned to such term in <u>Section</u> <u>9.22</u>.

"**Junior Indebtedness**" means any Subordinated Indebtedness (other than Indebtedness among the Issuer and/or its subsidiaries) with an individual outstanding principal amount in excess of the Threshold Amount.

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"**Junior Lien Indebtedness**" means any Indebtedness that is secured by a security interest on all or any portion of the Collateral (other than Indebtedness among the Issuer and/or its subsidiaries) that is expressly junior or subordinated to the Lien securing the Secured Obligations with an individual outstanding principal amount in excess of the Threshold Amount.

"**Latest Maturity Date**" means, as of any date of determination, the latest maturity or expiration date applicable to any Note or commitment hereunder at such time, including the latest maturity or expiration date of any Initial Term Note, Additional Term Note, Variable Note, Additional Variable Note, Variable Note Commitment or Additional Note Commitment at such time.

"**Latest Variable Note Maturity Date**" means, as of any date of determination, the latest maturity or expiration date applicable to any Variable Note or variable note commitment hereunder at such time, including the latest maturity or expiration date of any Variable Note, any Additional Variable Note, the Variable Note Commitment or any Additional Variable Note Commitment at such time.

"**Latest Term Note Maturity Date**" means, as of any date of determination, the latest maturity or expiration date applicable to any term note or term note commitment hereunder at such time, including the latest maturity or expiration date of any Term Note or any Additional Term Note Commitment at such time.

"**Legal Reservations**" means the application of relevant Debtor Relief Laws, general principles of equity and/or principles of good faith and fair dealing and, with respect to any Notes Document governed by the laws of a particular jurisdiction, any other matters which are set out as qualifications or reservations as to matters of law in any legal opinion(s) supplied to the Administrative Agent as a condition precedent under this Agreement on or before the Closing Date, to the extent such opinion(s) relate to the validity or enforceability of such Notes Document and/or any other Notes Documents governed by the laws of such jurisdiction.

"**Letter-of-Credit Right**" has the meaning set forth in Article 9 of the UCC.

"**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 Capital Lease having substantially the same economic effect as any of the foregoing), in each case, in the nature of security; <u>provided</u> that in no event shall an operating lease in and of itself be deemed to constitute a Lien.

"**Limited Condition Acquisition**" means a Permitted Acquisition or any other Investment permitted hereunder that constitutes an acquisition (other than intercompany Investments) by the Issuer or one or more of the Restricted Subsidiaries, the consummation of which is not conditioned on the availability of, or on obtaining, third party financing.

"**Local Time**" shall mean New York City time.

"**Luxembourg**" means the Grand Duchy of Luxembourg.

"**Luxembourg Account Pledge Agreement**" means, if any, each Luxembourg law governed account pledge agreement to be entered into between a Lux Note Party as "Pledgor" and the Administrative Agent with respect to its bank accounts situated in Luxembourg.

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"**Luxembourg Companies Register**" means the Luxembourg Register of Commerce and Companies (*R.C.S Luxembourg*).

"**Luxembourg Insolvency Event**" means, with respect to a Lux Note Party, the occurrence of a Luxembourg Insolvency Proceeding.

"**Luxembourg Insolvency Proceeding**" means, in relation to any Lux Note Party or any of its assets, any corporate action, legal proceedings or other procedure or step in relation to bankruptcy (*faillite*), insolvency, judicial or voluntary liquidation (*liquidation judiciaire ou volontaire*), composition with creditors (*concordat préventif de faillite*), moratorium or reprieve from payment (*sursis de paiement*), controlled management (*gestion contrôlée*), fraudulent conveyance (*action paulienne*), general settlement with creditors, reorganization or similar laws affecting the rights of creditors generally.

"**Luxembourg Share Pledge Agreement**" means, if any, each Luxembourg law governed share pledge agreement to be entered into in respect of the shares issued by any Lux Note Party.

"**Lux Note Party**" shall mean any Subsidiary of the Issuer (i) whose registered office or place of central administration is located in Luxembourg and (ii) which is required to become a Note Party pursuant to Section 5.12.

"**Lux Security Documents**" means each Luxembourg Account Pledge Agreement and the Luxembourg Share Pledge Agreement.

"**Margin Stock**" has the meaning assigned to such term in Regulation U.

"**Material Adverse Effect**" means a material adverse effect on (i) the business, assets, financial condition or results of operations, in each case, of Holdings, the Issuer and their Restricted Subsidiaries, taken as a whole, (ii) the rights and remedies (taken as a whole) of the Administrative Agent or the Holders under the applicable Notes Documents or (iii) the ability of Holdings and the Note Parties (taken as a whole) to perform their payment obligations under the applicable Notes Documents.

"**Material Assets**" means any IP Rights or any other assets or property of Holdings, the Issuer or any Restricted Subsidiary the loss of which has or could reasonably be expected to result in a Material Adverse Effect.

"**Material Asset Transaction**" has the meaning assigned to such term in <u>Section</u> <u>6.16.</u>

"**Material Debt Instrument**" means any physical instrument evidencing any Indebtedness for borrowed money which is required to be pledged to the Administrative Agent (or its bailee) pursuant to any Collateral Document.

"**Material Event of Default**" means an Event of Default under <u>Section</u> <u>7.01(a)</u>, <u>(f)</u>, <u>(g)</u>, <u>(h)(ii)</u> or <u>(n).</u>

"**Material Real Estate Asset**" means (a) each Real Estate Asset listed on <u>Schedule 1.01(b)</u> with any such Real Estate Asset having a fair market value (as reasonably determined by the Issuer after taking into account any liabilities with respect thereto that impact such fair market value) in excess of $10,000,000 as of the Closing Date and (b) any "fee-owned" Real Estate Asset acquired by any Note Party after the Closing Date having a fair market value (as reasonably determined by the Issuer after taking into account any liabilities with respect thereto that impact such fair market value) in excess of $10,000,000; provided, however, that any Real Estate Asset subject to the Sagent Agreement shall not constitute Material Real Estate Asset.

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"**Material Third Party Payor**" means any Third Party Payor that sponsors a Material Third Party Payor Program

"**Material Third Party Payor Programs**" means all payment and reimbursement programs, sponsored by a Third Party Payor, in which the Issuer or a Subsidiary participates the loss of which would reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect

"**Maturity Date**" means (a) with respect to the Variable Note, the Variable Note Maturity Date, (b) with respect to the Initial Term Notes, the Initial Term Note Maturity Date, (c) as to any Replacement Term Notes or Replacement Variable Note incurred pursuant to <u>Section</u> <u>9.02(c)</u>, the final maturity date for such Replacement Term Note or Replacement Variable Note, as the case may be, as set forth in the applicable Refinancing Amendment, (f) with respect to any Incremental Term Notes, the final maturity date set forth in the applicable amendment to this Agreement with respect thereto, (g) with respect to any Incremental Variable Note, the final maturity date set forth in the applicable amendment to this Agreement with respect thereto and (h) with respect to any Extended Variable Note Commitment or Extended Term Notes, the final maturity date set forth in the applicable Extension Offer accepted by the respective Holder or Holders.

"**Maximum Rate**" has the meaning assigned to such term in <u>Section</u> <u>9.19</u>.

"**Medicaid**" means the medical assistance programs administered by state agencies and approved by CMS pursuant to the terms of Title XIX of the Social Security Act, codified at 42 U.S.C. 1396 et seq.

"**Medicare**" means the program of health benefits for the aged and disabled administered by CMS pursuant to the terms of Title XVIII of the Social Security Act, codified at 42 U.S.C. 1395 et seq.

"**Minimum Extension Condition**" has the meaning assigned to such term in <u>Section</u> <u>2.23(b)</u>.

"**Moody's**" means Moody's Investors Service, Inc.

"**Mortgage Policies**" has the meaning assigned to such term in the definition of "Collateral and Guarantee Requirement".

"**Mortgages**" means any mortgage, deed of trust or other agreement which conveys or evidences a Lien in favor of the Administrative Agent, for the benefit of the Administrative Agent and the other Secured Parties, on any Material Real Estate Asset constituting Collateral.

"**Multiemployer Plan**" means any employee benefit plan which is a "multiemployer plan" as defined in Section 3(37) of ERISA, that is subject to the provisions of Title IV of ERISA, and in respect of which Holdings, the Issuer or any of their Restricted Subsidiaries, or any of their respective ERISA Affiliates, makes or is obligated to make contributions or with respect to which any of them has any ongoing obligation or liability, contingent or otherwise.

"**Narrative Report**" means, with respect to the financial statements with respect to which it is delivered, a management discussion and narrative report describing the operations of Indivior PLC,Holdings<u>any Parent Company</u>, the Issuer and their Restricted Subsidiaries for the applicable Fiscal Quarter or Fiscal Year and for the period from the beginning of the then-current Fiscal Year to the end of the period to which the relevant financial statements relate.

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"**Net Insurance/Condemnation Proceeds**" means an amount equal to: (a) any Cash payments or proceeds (including Cash Equivalents) received by the Issuer or any of its Restricted Subsidiaries (i) under any casualty insurance policy in respect of a covered loss thereunder of any assets of the Issuer or any of its Restricted Subsidiaries or (ii) as a result of the taking of any assets of the Issuer or any of its Restricted Subsidiaries by any Person pursuant to the power of eminent domain, condemnation or otherwise, or pursuant to a sale of any such assets to a purchaser with such power under threat of such a taking, *minus* (b) (i) any actual out-of-pocket costs incurred by the Issuer or any of its Restricted Subsidiaries in connection with the adjustment, settlement or collection of any claims of the Issuer or the relevant Restricted Subsidiary in respect thereof, (ii) payment of the outstanding principal amount of, premium or penalty, if any, and interest and other amounts on any Indebtedness (other than the Notes and any Indebtedness secured by a Lien that is *pari passu* with or expressly subordinated to the Lien on the Collateral securing the Secured Obligations) that is secured by a Lien on the assets in question and that is required to be repaid or otherwise comes due or would be in default under the terms thereof as a result of such loss, taking or sale, (iii) the reasonable out-of-pocket costs of putting any affected property in a safe and secure position, (iv) any selling costs and out-of-pocket expenses (including reasonable legal fees, transfer and similar Taxes and the applicable Issuer's good faith estimate of income Taxes paid or payable) in connection with any sale or taking of such assets as described in <u>clause (a)</u> of this definition and (v) any amounts provided as a reserve in accordance with GAAP against any liabilities under any indemnification obligation or purchase price adjustments associated with any sale or taking of such assets as referred to in <u>clause (a)</u> of this definition (<u>provided</u> that to the extent and at the time any such amounts are released from such reserve, such amounts shall constitute Net Insurance/Condemnation Proceeds).

"**Net Proceeds**" means (a) with respect to any Disposition (including any Prepayment Asset Sale), the Cash proceeds (including Cash Equivalents and Cash proceeds subsequently received (as and when received) in respect of non-cash consideration initially received), net of (i) selling costs and out-of-pocket expenses (including reasonable broker's fees or commissions, legal fees, transfer and similar Taxes and the Issuer's good faith estimate of income Taxes paid or payable (including, without duplication, any Permitted Tax Distributions) in connection with such Disposition), (ii) amounts provided as a reserve in accordance with GAAP against any liabilities under any indemnification obligation or purchase price adjustment associated with such Disposition (<u>provided</u> that to the extent and at the time any such amounts are released from such reserve, such amounts shall constitute Net Proceeds), (iii) the principal amount, premium or penalty, if any, interest and other amounts on any Indebtedness (other than the Notes and any other Indebtedness secured by a Lien that is *pari passu* with or expressly subordinated to the Lien on the Collateral securing the Secured Obligations) which is secured by the asset sold in such Disposition and which is required to be repaid or otherwise comes due or would be in default and is repaid (other than any such Indebtedness that is assumed by the purchaser of such asset) and (iv) Cash escrows (until released from escrow to the Issuer or any of its Restricted Subsidiaries) from the sale price for such Disposition; and (b) with respect to any issuance or incurrence of Indebtedness or Capital Stock, the Cash proceeds thereof, net of all Taxes and customary fees, commissions, costs, underwriting discounts and other fees and expenses incurred in connection therewith.

"**Non-Consenting Holder**" has the meaning assigned to such term in <u>Section</u> <u>2.19(b)</u>.

"**Non-Note Party**" means a Restricted Subsidiary that is not a Note Party

"**Non-Note Party Indebtedness of Note Parties**" has the meaning set forth in <u>Section</u> <u>6.01</u>.

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"**Non-Note Party Investment Basket**" means the baskets set forth in <u>Sections</u> <u>6.06(b)(iii)</u>, <u>6.06(e)(ii)</u>, <u>6.06(u)</u> and <u>6.06(x)</u>.

"**Non-Qualified Note Party**" means a Note Party incorporated or organized in a jurisdiction other than a Qualified Jurisdiction.

"**Note Guaranty**" means (a) the Guaranty Agreement, substantially in the form of <u>Exhibit</u> <u>I</u>, executed by each Note Party party thereto and the Administrative Agent for the benefit of the Secured Parties and (b) each other guaranty agreement executed by any Person pursuant to <u>Section</u> <u>5.12</u> in substantially the form attached as <u>Exhibit I</u> or another form that is otherwise reasonably satisfactory to the Administrative Agent and the Issuer.

"**Note Issuance**" means each of the making of a Note.

"**Note Installment Date**" has the meaning assigned to such term in <u>Section</u> <u>2.10(a)</u>.

"**Notes Documents**" means this Agreement, each Fee Letter, any Promissory Note, each Note Guaranty, the Collateral Documents, each Security Trust Deed (and each accession deed or similar instrument with respect thereto), any Intercreditor Agreement required to be entered into pursuant to the terms of this Agreement and any other document or instrument designated by the Issuer and the Administrative Agent as a "Notes Document", it being agreed and understood that the term "Notes Documents" shall not include any equity document. Any reference in this Agreement or any other Notes Document to a Notes Document shall include all appendices, exhibits or schedules thereto.

"**Note Parties**" means the Issuer, each Subsidiary Guarantor, Holdings and in each case their respective successors and permitted assigns.

"**Notes**" means any of the Variable Notes, the Term Notes and the Additional Notes.

"**Notices of Grant of Security Interest in Intellectual Property"** means the notices of grant of security interest substantially in the form attached as Exhibit II to the Security Agreement or such other form as shall be reasonably acceptable to the Administrative Agent.

"**Obligations**" means all unpaid principal of and accrued and unpaid interest (including interest accruing during the pendency of any bankruptcy, insolvency, examinership, small administrative rescue process, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Notes, all accrued and unpaid fees and all expenses, reimbursements, indemnities and all other advances to, debts, liabilities and obligations of the Note Parties to the Holders or to any Holder, the Administrative Agent or any Indemnified Person arising under the Notes Documents, whether direct or indirect (including those acquired by assumption), absolute, contingent, due or to become due, now existing or hereafter arising.

"**OFAC**" has the meaning assigned to such term in <u>Section</u> <u>3.17</u>.

"**Organizational Documents**" means (a) with respect to any corporation, its certificate or articles of incorporation or organization and its by-laws, (b) with respect to any limited partnership, its certificate of limited partnership and its partnership agreement, (c) with respect to any general partnership, its partnership agreement, (d) with respect to any limited liability company, its articles of organization or certificate of formation, and its operating agreement, and (e) with respect to any other form of entity or any entity which is not incorporated or organized in the U.S., such other organizational documents required by local law or customary under its jurisdiction of organization to document the formation and governance principles of such type of entity. In the event that any term or condition of this Agreement or any other Notes Document requires any Organizational Document to be certified by a secretary of state or similar governmental official, the reference to any such "Organizational Document" shall only be to a document of a type customarily certified by such governmental official.

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"**Original Currency**" has the meaning assigned to such term in <u>Section</u> <u>2.18(a)</u>.

"**Original Deposit Account**" means the Deposit Account of Indivior, Inc., a Delaware corporation, maintained with Bank of America, with account number xxx8828 .

"**Original Jurisdiction**" means, in relation to a Note Party, the jurisdiction under whose laws that Note Party is incorporated or organized as at the date of this Agreement or, in the case of any Person that becomes a Note Party pursuant to <u>Section</u> <u>5.12</u> or <u>Section</u> <u>5.16</u>, as at the date on which such Person becomes a Note Party.

"**Other Applicable Indebtedness**" has the meaning assigned to such term in <u>Section</u> <u>2.11(b)(ii)</u>.

"**Other Connection Taxes**" means, with respect to any Holder, Administrative Agent, or any other recipient of any payment to be made by or on account of any obligation of any Note Party hereunder, Taxes imposed as a result of a present or former connection between such recipient and the jurisdiction imposing such Tax (other than connections 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, or engaged in any other transaction pursuant to or enforced any Notes Document, or sold or assigned an interest in any Note or Notes Document).

"**Other Taxes**" means any and all present or future stamp, court or documentary, property, excise, intangible, recording, filing or similar Taxes arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement, except (a) any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 2.19(b)) and (b) any stamp or registration tax payable as a result of any voluntary registration by a Secured Party of a Notes Document in Luxembourg when such registration is not required to protect, preserve, maintain or enforce the rights of that Secured Party under such Note Document.

"**Outstanding Amount**" means with respect to Term Notes and Variable Notes on any date, the amount of the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Term Notes and Variable Notes, as the case may be, occurring on such date.

"**Overnight Foreign Currency Rate**" shall mean, for any amount payable in an Alternative Currency, the rate of interest per annum as determined by the Administrative Agent at which overnight or weekend deposits in the relevant currency (or if such amount due remains unpaid for more than three (3) Business Days, then for such other period of time as the Administrative Agent may elect) for delivery in immediately available and freely transferable funds would be offered by the Administrative Agent to major banks in the interbank market upon request of such major banks for the relevant currency as determined above and in an amount comparable to the unpaid principal amount of the related Note Issuance, plus any Taxes, levies, imposts, duties, deductions, charges or withholdings imposed upon, or charged to, the Administrative Agent by any relevant correspondent bank in respect of such amount in such relevant currency.

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"**Parent Company**" <u>shall</u> means<u>,</u> (<u>i) prior to the First Amendment Effective Date, (</u>a) Indivior PLC, <u>and</u> (b) Holdings and (c<u>any other Person of which each Issuer is an indirect Wholly-Owned Subsidiary, and (ii) on or after the First Amendment Effective Date, (a) TopCo and (b)</u> any other Person of which each Issuer is an indirect Wholly-Owned Subsidiary.

"**Pari First Lien Intercreditor Agreement**" means an intercreditor agreement substantially in the form of <u>Exhibit N</u> hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Issuer, as such document may be amended, restated, supplemented or otherwise modified from time to time.

"**Participant**" has the meaning assigned to such term in <u>Section</u> <u>9.05(c)</u>.

"**Participant Register**" has the meaning assigned to such term in <u>Section</u> <u>9.05(c)</u>.

"**Patent**" means the following: (a) any and all patents and patent applications; (b) all inventions described and claimed therein; (c) all reissues, divisions, continuations, renewals, extensions and continuations in part thereof; (d) all income, royalties, damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments for past and future infringements thereof; (e) all rights to sue for past, present, and future infringements thereof; and (f) all rights corresponding to any of the foregoing.

"**Payment Recipient**" has the meaning assigned to it in <u>Article 8</u>.

"**PBGC**" means the Pension Benefit Guaranty Corporation.

"**Pension Plan**" means any "employee pension benefit plan", as defined in Section 3(2) of ERISA (other than a Multiemployer Plan), that is subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, which Holdings, the Issuer or any of their Restricted Subsidiaries, or any of their respective ERISA Affiliates, maintains or contributes to or has an obligation to contribute to, or otherwise has any liability, contingent or otherwise.

"**Pensions Regulator**" means the body corporate by that name established under Part 1 of the Pensions Act 2004.

"**Perfection Certificate**" means a certificate substantially in the form of <u>Exhibit E</u>.

"**Perfection Certificate Supplement**" means a supplement to the Perfection Certificate substantially in the form of <u>Exhibit</u>**<u> </u>**<u>F</u>.

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"**Periodic Term SOFR Determination Day**" has the meaning assigned to such term in the definition of "Term SOFR".

"**Permitted Acquisition**" means any acquisition by the Issuer or any of its Restricted Subsidiaries, whether by purchase, merger or otherwise, of all or substantially all of the assets of, or any business line, unit or division of, any Person or of a majority of the outstanding Capital Stock of any Person (but in any event including any Investment in (x) any Restricted Subsidiary which serves to increase the applicable Issuer's or any Restricted Subsidiary's respective equity ownership in such Restricted Subsidiary or (y) any joint venture for the purpose of increasing the applicable Issuer's or its relevant Restricted Subsidiary's ownership interest in such joint venture); <u>provided</u> that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (i) on the date of signing of the definitive acquisition agreement for such Permitted Acquisition, no Event of Default shall have occurred and be continuing and (ii) at the closing of such Permitted Acquisition, no Event of Default under <u>Section</u> <u>7.01(a)</u>, <u>(f)</u> or <u>(g)</u> exists or would result after giving pro forma effect to such acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the total consideration paid by Persons that are Note Parties for (i) the Capital Stock of any Person that does not become a Guarantor and (ii) in the case of an asset acquisition, assets that are not acquired by the Issuer or any Guarantor, when taken together with the total consideration for all such Persons and assets so acquired after the Closing Date, shall not exceed the sum of (A) taken together with all Indebtedness incurred pursuant to <u>Section</u> <u>6.01(j)</u> that is at the time outstanding, the greater of (x) $145,000,000 and (y) 40.0% of Consolidated Adjusted EBITDA as of the last day of the most recent Test Period and (B) amounts otherwise available under <u>clauses</u> <u>(q)</u>, <u>(r)</u>, <u>(x)</u> and <u>(dd)</u> of <u>Section</u> <u>6.06</u> (so long as any such additional amounts are incurred in compliance with, and justified as outstanding under, such provisions); <u>provided</u>, that the limitation described in this <u>clause (b)</u> shall not apply to any acquisition to the extent such acquisition is made with the proceeds of sales of the Qualified Capital Stock of, or common equity capital contributions to, the Issuer or any Restricted Subsidiary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the business of such Person, or the business conducted with such assets, as the case may be, constitutes a business permitted by <u>Section</u> <u>6.10</u>.

"**Permitted Hedge Counterparty**" means, subject to the consent of the Administrative Agent (not to be unreasonably withheld, conditioned or delayed), any financial institution that is designated in writing to the Administrative Agent by the Issuer from time to time as a provider of hedging services, in each case in its capacity as a party thereto, and whether or not such Person subsequently ceases to be a Holder or an Affiliate of any Holder.

"**Permitted Junior Intercreditor Agreement**" shall mean, with respect to any Liens on all or any portion of the Collateral that are intended to be junior to any Liens securing the Initial Term Notes and Variable Notes (and other Secured Obligations that are pari passu with the Initial Term Notes and Variable Notes), either (as the Issuer shall elect) (x) the First Lien/Second Lien Intercreditor Agreement if such Liens secure "Second-Priority Obligations" (as defined therein) or (y) another intercreditor agreement not materially less favorable to the Holders vis-à-vis such junior Liens than the First Lien/Second Lien Intercreditor Agreement (as determined by the Issuer in good faith).

"**Permitted Liens**" means Liens permitted pursuant to <u>Section</u> <u>6.02</u>.

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"**Permitted Pari Passu Intercreditor Agreement**" shall mean, with respect to any Liens on all or any portion of the Collateral that are intended to be *pari passu* with the Liens securing the Initial Term Notes and Variable Notes (and other Secured Obligations that are *pari passu* with the Initial Term Notes and Variable Notes), either (as the Issuer shall elect) (x) the Pari First Lien Intercreditor Agreement or (y) another intercreditor agreement not materially less favorable to the Holders *vis-à-vis* such *pari passu* Liens than the Pari First Lien Intercreditor Agreement (as determined by the Issuer in good faith).

"**Permitted Securitization Documents**" shall mean all documents and agreements evidencing, relating to or otherwise governing a Permitted Securitization Financing, in each case as such documents and agreements may be amended, modified, supplemented, refinanced or replaced from time to time, so long as the relevant Permitted Securitization Financing would still meet the requirements of the definition thereof after giving effect to such amendment, modification, supplement, refinancing or replacement.

"**Permitted Securitization Financing**" shall mean one or more transactions that are designated as a "Permitted Securitization Financing" as provided below, pursuant to which (i) Securitization Assets or interests therein are sold to or financed by one or more Special Purpose Securitization Subsidiaries, and (ii) such Special Purpose Securitization Subsidiaries finance their acquisition of such Securitization Assets or interests therein, or the financing thereof, by selling or borrowing against Securitization Assets and any Hedge Agreements entered into in connection with such Securitization Assets; <u>provided</u>, that (x) none of Holdings, the Issuer or any Restricted Subsidiary guarantees any obligations (contingent or otherwise) under such transactions, (y) no property or asset (other than Securitization Assets or the Capital Stock of any Special Purpose Securitization Subsidiary) of Holdings, the Issuer or any Restricted Subsidiary (other than a Special Purpose Securitization Subsidiary) is, directly or indirectly, contingently or otherwise, subject to the satisfaction of any such transaction and (z) there shall be no recourse to Holdings, the Issuer or any Subsidiary (other than the Special Purpose Securitization Subsidiaries) in connection with such transactions, in each case except to the extent customary (as determined by the Issuer in good faith) for similar transactions in the applicable jurisdictions (including, to the extent applicable, in a manner consistent with the delivery of a "true sale"/"absolute transfer" opinion with respect to any transfer by the Issuer or any Subsidiary (other than a Special Purpose Securitization Subsidiary)). Any such designation shall be evidenced to the Administrative Agent by filing with the Administrative Agent a certificate signed by a Responsible Officer of the Issuer certifying that, to the best of such officer's knowledge and belief after consultation with counsel, such designation complied with the foregoing conditions.

"**Permitted Tax Distributions**" means with respect to any taxable period (or portion thereof) for which the Issuer is (A) treated as a partnership or disregarded entity for U.S. federal income tax purposes, amounts distributable from the Issuer and its Subsidiaries to direct and indirect holders of Equity Interests in the Issuer to permit such holders to discharge their U.S. federal, state, local, and non-U.S. Taxes (as applicable), including distributions made pursuant to a Tax Sharing Agreement with such direct or indirect holders of Equity Interests in the Issuer, that are attributable to the direct and indirect ownership of the Issuer and its Subsidiaries in the aggregate amount not to exceed (I) (x) the net taxable income of the Issuer and its Subsidiaries in respect of the taxable period, taking into account only items of income, gain, loss, deduction or credit of the Issuer or any applicable Subsidiary, multiplied by (y) the highest combined marginal U.S. federal and applicable state, local and/or non-U.S. income tax rate (taking into account the character of the taxable income, but not taking into account (i) the deductibility of state and local income taxes for U.S. federal income tax purposes and (ii) tax deductions or basis adjustments pursuant to Section 734(b) or 743(b) of the Code (but including, for purposes of greater certainty, allocations pursuant to Section 704(c) of the Code)) and (II) with respect to a Tax Sharing Agreement, the actual Tax Liability of such direct or indirect holder of Equity Interests in the Issuer attributable to such holders ownership of the Issuer and its Subsidiaries, and (B) a member of a consolidated, combined, affiliated or unitary group for U.S. federal and/or applicable state, local and/or or non-U.S. income tax purposes (a "**Tax Group**"), distributions by Issuer and its Subsidiaries during any taxable period (or portion thereof) in which Issuer is a member of such Tax Group of which Issuer or Holdings (or their direct or

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indirect beneficial owner) is the common parent order to pay any applicable U.S. federal and/or applicable state, local, and non-U.S. income taxes of such Tax Group then due and owing that are attributable to the taxable income of Issuer and its Subsidiaries; <u>provided</u>, <u>that</u>, for each taxable period, the aggregate amount of such payments made in respect of such taxable period by Issuer shall not be greater than the amount of such Taxes that Issuer and its applicable Subsidiaries would have been required to pay as a stand-alone corporate Tax Group; provided, further, that in the case of clauses (A) and (B) any such amount attributable to taxable income of an Unrestricted Subsidiary shall be permitted solely to the extent a corresponding amount of cash is received by the Issuer or a Restricted Subsidiary from such Unrestricted Subsidiary for purposes of the relevant tax distribution.

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

"**Plan**" means any "employee pension benefit plan" (within the meaning of Section 3(2) of ERISA) maintained by Holdings, the Issuer or any of their Restricted Subsidiaries or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any of their ERISA Affiliates, other than any Multiemployer Plan.

"**Platform**" has the meaning assigned to such term in <u>Section</u> <u>5.01</u>.

"**Prepayment Asset Sale**" means any Disposition by the Issuer or its Restricted Subsidiaries made pursuant to, <u>Section</u> <u>6.07(h)</u>, Section <u>6.07(n)</u>, <u>Section</u> <u>6.07(q)</u>, <u>clause (ii)</u> to the proviso to <u>Section</u> <u>6.07(r)</u> (to the extent provided therein), <u>Section</u> <u>6.07(z)</u> and <u>Section</u> <u>6.08</u>.

"**Primary Obligor**" has the meaning assigned to such term in the definition of "Guarantee".

"**Prime Rate**" means (a) the rate of interest publicly announced, from time to time, by the Administrative Agent at its principal office in New York City as its "prime rate", with the understanding that the "prime rate" is one of the Administrative Agent's base rates (not necessarily the lowest of such rates) and serves as the basis upon which effective rates of interest are calculated for those loans or notes making reference thereto and is evidenced by the recording thereof after its announcement in such internal publications as the Administrative Agent may designate or (b) if the Administrative Agent has no "prime rate", the rate of interest last quoted by *The Wall Street Journal* as the "Prime Rate" in the U.S. or, if *The Wall Street Journal* ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board 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 reasonably determined by the Administrative Agent) or any similar release by the Federal Reserve Board (as reasonably determined by the Administrative Agent).

"**Pro Forma Basis**" or "**pro forma effect**" means, as to any calculation of the Total Leverage Ratio, the First Lien Leverage Ratio, any other financial ratio, Consolidated Adjusted EBITDA or Consolidated Total Assets (including component definitions thereof), for any events as described below that occur subsequent to the commencement of any period of four consecutive Fiscal Quarters (the "**Reference Period**") for which the financial effect of such events is being calculated, and giving effect to the events for which such calculation is being made, such calculation as will give pro forma effect to such events as if such events occurred as of the first day of the Reference Period (or, in the case of Consolidated Total Assets, as of the last day of such Reference Period) and that: (i) in making any determination of Consolidated Adjusted EBITDA, effect shall be given to (without duplication of any add-back to Consolidated Adjusted EBITDA pursuant to clause (xix) of the definition thereof) any Disposition, acquisition, Investment, capital expenditure, cost saving (including sourcing), operating improvement,

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expense reduction, cost synergies, merger, amalgamation, consolidation (including the Transactions) (or any similar transaction or transactions not otherwise permitted under <u>Section</u> <u>6.01</u> or <u>6.06</u> that require a waiver or consent of the Required Holders and such waiver or consent has been obtained), any dividend, distribution or other similar payment, any designation of any subsidiary of the Issuer as an Unrestricted Subsidiary (or of an Unrestricted Subsidiary as a Restricted Subsidiary), which adjustments such Issuer determines in good faith as set forth in a certificate of a chief financial officer, treasurer or similar officer of such Issuer (the foregoing, together with any transactions related thereto or in connection therewith, and any other events that by the terms of the Notes Documents require pro forma compliance or determination on a pro forma basis, the "**Subject Transactions**"), in each case that occurred during the Reference Period (or, unless otherwise specified, occurring during the Reference Period or thereafter and through and including the date of determination, if applicable), (ii) in making any determination on a Pro Forma Basis, (x) all Indebtedness (including Indebtedness issued, incurred or assumed as a result of, or to finance, any relevant transactions and for which the financial effect is being calculated, whether incurred under this Agreement or otherwise, and excluding normal fluctuations in revolving Indebtedness incurred for working capital purposes and amounts outstanding under any Permitted Securitization Financing) issued, incurred, assumed or permanently repaid, as applicable, during the Reference Period (or, unless otherwise specified, occurring during the Reference Period or thereafter and through and including the date of determination, if applicable) shall be deemed to have been issued, incurred, assumed or permanently repaid at the beginning of such period, (y) interest charges attributable to interest on any Indebtedness, for which pro forma effect is being given as provided in preceding <u>clause (x)</u>, bearing floating interest rates shall be computed on a pro forma basis as if the rate that is or would be in effect with respect to such Indebtedness as at the relevant date of determination would have been in effect during the period for which pro forma effect is being given and (z) the acquisition of any assets included in calculating Consolidated Total Assets, whether pursuant to any Subject Transaction or any Person becoming a subsidiary or merging, amalgamating or consolidating with or into the Issuer or any of its subsidiaries, or the Disposition of any assets included in calculating Consolidated Total Assets pursuant to any Subject Transaction shall be deemed to have occurred as of the last day of the applicable Reference Period, and (iii) with respect to (A) any designation of an Unrestricted Subsidiary as a Restricted Subsidiary, effect shall be given to such designation and all other designations of Unrestricted Subsidiaries as Restricted Subsidiaries after the first day of the relevant Reference Period and on or prior to the date of the then applicable designation of an Unrestricted Subsidiary as a Restricted Subsidiary, collectively, and (B) any designation of a Restricted Subsidiary as an Unrestricted Subsidiary, effect shall be given to such designation and all other designations of Restricted Subsidiaries as Unrestricted Subsidiaries after the first day of the relevant Reference Period and on or prior to the date of the then applicable designation of a Restricted Subsidiary as an Unrestricted Subsidiary, collectively.

Pro forma calculations made pursuant to the definition of the term "Pro Forma Basis" shall be determined in good faith by a Responsible Officer of the Issuer and, to the extent applicable, in compliance with <u>Section</u> <u>1.10</u>.

Notwithstanding anything to the contrary set forth in this definition, for the avoidance of doubt, when calculating the First Lien Leverage Ratio or the Total Leverage Ratio (as applicable) for purposes of the definition of "Applicable Rate", the events described in the second preceding paragraph that occurred subsequent to the end of the applicable Reference Period shall not be given pro forma effect.

"**Process Agent**" has the meaning assigned to such term in <u>Section</u> <u>9.10(e)</u>.

"**Products**" means, from time to time, any products currently manufactured, sold, developed, tested or marketed by the Issuer or any of its Subsidiaries.

"**Projections**" means the projections of the Issuer and their subsidiaries provided to the Administrative Agent on September 16, 2024.

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"**Promissory Note**" means a promissory note of the applicable Issuer payable to any Holder or its registered assigns, in substantially the form of <u>Exhibit</u> <u>G</u>, evidencing the aggregate outstanding principal amount of Notes of a particular Class of such Issuer to such Holder resulting from the Notes of such Class purchased by (or otherwise owing to) such Holder.

"**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 Company Costs**" shall mean, as to any Person, costs associated with, or in anticipation of, or preparation for, compliance with the requirements of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith and costs relating to compliance with the provisions of the Securities Act and the Exchange Act, or compliance with any similar rules in any applicable jurisdiction, as applicable to companies with equity or debt securities held by the public, the rules of national securities exchange companies with listed equity, directors', managers' and/or employees' compensation, fees and expense reimbursement, costs relating to investor relations, shareholder meetings and reports to shareholders or debtholders, directors' and officers' insurance and other executive costs, legal and other professional fees, and listing fees and other costs and/or expenses associated with being a public company.

"**Public Holder**" has the meaning assigned to such term in <u>Section</u> <u>5.01</u>.

"**Purchaser**" means each purchaser of Notes on the Closing Date under the terms set forth in this Agreement.

"**Purchaser Fee Letter**" means that certain Purchaser Fee Letter, dated as of the Closing Date, by and among the Issuer and the Administrative Agent.

"**Qualified Capital Stock**" of any Person means any Capital Stock of such Person that is not Disqualified Capital Stock.

"**Qualified Jurisdiction**" shall mean (a) the United States, the United Kingdom, Luxembourg, Jersey and Ireland and (b) any other jurisdiction where the Administrative Agent has determined (acting reasonably and following a request by the Issuer and based on advice of local counsel) that Wholly-Owned Subsidiaries organized in such jurisdiction may provide guarantees and security which, after giving effect to the Agreed Guarantee and Security Principles, would provide substantially the same benefits as guarantees and security provided with respect to the Collateral owned by such entities as would have been obtained if the respective subsidiary were instead organized in any of the jurisdictions listed in preceding clause (a).

"**Qualified Note Party**" shall mean any Note Party incorporated or organized in a Qualified Jurisdiction.

"**Qualifying Bid**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Qualifying Holder**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Quoted Eurobond Listing**" means the listing of the Notes as described in section 987(1)(b) ITA 2007 on a recognized stock exchange within the meaning contained in section 1005 of the ITA 2007, and for the purposes of section 882 of the Income Tax Act 2007.

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"**Quoted Eurobond Listing Date**" means the date on which the Quoted Eurobond Listing is first made.

"**RBP Global**" has the meaning assigned to such term in the preamble to this Agreement.

"**Real Estate Asset**" means, at any time of determination, all right, title and interest (fee, leasehold or otherwise) of any Note Party in and to real property (including, but not limited to, land, improvements and fixtures thereon).

"**Real Estate Facility**" means any real property (including all buildings, fixtures or other improvements located thereon) now, hereafter or, except with respect to <u>Articles 5</u> and <u>6</u>, hereof owned, leased, operated or used by the Issuer or any of its Restricted Subsidiaries.

"**Receivables Net Investment**" shall mean the aggregate cash amount paid by the holders, lenders or purchasers under any Permitted Securitization Financing in connection with their purchase of, or the making of loans secured by, Securitization Assets or interests therein, as the same may be reduced from time to time by collections with respect to such Securitization Assets or otherwise in accordance with the terms of the Permitted Securitization Documents (but excluding any such collections used to make payments of commissions, discounts, yields and other fees and charges incurred in connection with any Permitted Securitization Financing payable to any person other than the Issuer or a Subsidiary Guarantor); <u>provided</u>, <u>however</u>, that if all or any part of such Receivables Net Investment shall have been reduced by application of any distribution and thereafter such distribution is rescinded or must otherwise be returned for any reason, such Receivables Net Investment shall be increased by the amount of such distribution, all as though such distribution had not been made.

"**Receiver**" means a receiver or receiver and manager or administrative receiver of the whole or any part of the assets which from time to time are expressed to be the subject of any English Security Document or any Irish Security Document or any Jersey Security Document.

"**Recipient**" has the meaning assigned to such term in <u>Section</u> <u>2.17(p)(ii)</u>.

"**Refinancing**" means the payment in full of the obligations of Issuer and the other obligors under the Existing Credit Agreement and the Existing Intercompany Debt, in each case with proceeds of the Initial Term Note on the Closing Date.

"**Refinancing Amendment**" means an amendment to this Agreement in form and substance reasonably satisfactory to the Administrative Agent and the Issuer executed by (a) Holdings and the Issuer, (b) the Administrative Agent and (c) each Holder that agrees to provide all or any portion of the Replacement Term Notes or the Replacement Variable Note Commitment being incurred pursuant thereto and in accordance with <u>Section</u> <u>9.02(c)</u>.

"**Refinancing Indebtedness**" has the meaning assigned to such term in <u>Section</u> <u>6.01(p)</u>.

"**Refunding Capital Stock**" has the meaning assigned to such term in <u>Section</u> <u>6.04(a)(viii)</u>.

"**Register**" has the meaning assigned to such term in <u>Section</u> <u>9.05(b)(iv)</u>.

"**Regulation D**" means Regulation D of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof.

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"**Regulation H**" means Regulation H of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof.

"**Regulation T**" means Regulation T of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof.

"**Regulation U**" means Regulation U of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof.

"**Regulation X**" means Regulation X of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof.

"**Regulatory Required Permit**" means any and all licenses, approvals and permits issued by the FDA, DEA or any other applicable Governmental Authority necessary for the testing, manufacture, marketing or sale of any Product by any applicable Issuer(s) and its Subsidiaries as such activities are being conducted by such Issuer and its Subsidiaries with respect to such Product at such time, registrations issued by DEA under 21 U.S.C. Section 823 (if applicable to any Product), and those issued by State governments that are necessary for the conduct of Issuer's or any Subsidiary's business.

"**Related Funds**" shall mean with respect to any Holder that is an Approved Fund, any other Approved Fund that is managed by the same investment advisor as such Holder or by an Affiliate of such investment advisor.

"**Related Parties**" means, with respect to any specified Person, such Person's Affiliates and the respective officers, directors, employees, agents, controlling persons, trustees and members of such Person and such Person's Affiliates.

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

"**Relevant Party**" has the meaning assigned to such term in <u>Section</u> <u>2.17(p)(ii)</u>.

"**Relevant Holder**" has the meaning assigned to such term in <u>Section</u> <u>9.05(i)(vii)</u>.

"**Replaced Variable Note**" has the meaning assigned to such term in <u>Section</u> <u>9.02(c)</u>.

"**Replaced Term Notes**" has the meaning assigned to such term in <u>Section</u> <u>9.02(c)</u>.

"**Replacement Variable Note**" has the meaning assigned to such term in <u>Section</u> <u>9.02(c)</u>.

"**Replacement Term Notes**" has the meaning assigned to such term in <u>Section</u> <u>9.02(c)</u>.

"**Reply Amount**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Reply Price**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Representatives**" has the meaning assigned to such term in <u>Section</u> <u>9.13</u>.

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"**Required Holders**" means, at any time, Holders having Term Notes, Variable Note Exposure or unused Commitments representing more than 50% of the sum of the total Term Notes, Variable Note Exposure and such unused Commitments at such time.

"**Required Variable Note Holders**" means, at any time, Holders having Variable Notes, Additional Variable Notes, other Variable Note Exposure, Unused Variable Note Commitments and unused Additional Variable Note Commitments representing more than 50% of the sum of the total Variable Notes, Additional Variable Notes, other Variable Note Exposure and such unused Commitments at such time.

"**Requirements of Law**" means, with respect to any Person, collectively, the common law and all federal, state, local, foreign, multinational or international laws, statutes, codes, treaties, standards, rules and regulations, guidelines, ordinances, orders, judgments, writs, injunctions, decrees (including administrative or judicial precedents or authorities) and the interpretation or administration thereof by, and other determinations, directives, requirements or requests of any Governmental Authority, in each case whether or not having the force of law and that are applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject.

"**Resolution Authority**" means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority.

"**Responsible Officer**" of any Person means the chief executive officer, the president, the chief financial officer, the treasurer, any assistant treasurer, any executive vice president, any senior vice president, any vice president or the chief operating officer of such Person, any authorized signatory appointed by the board of directors (*conseil d'administration*) or board of managers (*conseil de gérance*) of such person (as applicable) and any other individual or similar official thereof responsible for the administration of the obligations of such Person in respect of this Agreement, and, as to any document delivered on the Closing Date, shall (subject to the express requirements of <u>Section</u> <u>4.01</u>) include any secretary or assistant secretary or any other individual or similar official thereof with substantially equivalent responsibilities of a Note Party. Any document delivered hereunder that is signed by a Responsible Officer of any Note Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership, limited liability company and/or other action on the part of such Note Party, and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Note Party.

"**Responsible Officer Certification**" means, with respect to the financial statements for which such certification is required, the certification of a Responsible Officer of the Issuer that such financial statements fairly present, in all material respects, in accordance with GAAP, the consolidated financial condition of such Issuer as at the dates indicated and its consolidated income and cash flows for the periods indicated, subject to changes resulting from audit and normal year-end adjustments.

"**Restricted Debt**" has the meaning set forth in <u>Section</u> <u>6.04(b)</u>.

"**Restricted Debt Payment**" has the meaning set forth in <u>Section</u> <u>6.04(b)</u>.

"**Restricted Payment**" means (a) any dividend or other distribution on account of any shares of any class of the Capital Stock of the Issuer, except a dividend payable solely in shares of Qualified Capital Stock to the holders of such class; (b) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value of any shares of any class of the Capital Stock of the Issuer and (c) any payment made to retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire shares of any class of the Capital Stock of the Issuer now or hereafter outstanding.

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"**Restricted Subsidiary**" means, as to any Person, any subsidiary of such Person that is not an Unrestricted Subsidiary. Unless otherwise specified, "Restricted Subsidiary" shall mean any Restricted Subsidiary of the Issuer.

"**Return Bid**" has the meaning assigned to such term in the definition of "Dutch Auction".

"**Revaluation Date**" shall mean with respect to any Alternative Currency Variable Note, each of the following: (i) each date occurring two Business Days prior to the date of a SOFR Borrowing of Variable Notes denominated in an Alternative Currency, (ii) each date of a continuation of a SOFR Variable Note denominated in an Alternative Currency pursuant to <u>Section</u> <u>2.08</u>, and (iii) the last Business Day of each Fiscal Quarter, and such additional dates as the Administrative Agent shall determine or the Required Variable Note Holders shall require.

"**S&P**" means S&P Global Ratings, and its successors and assigns.

"**Sagent Agreement**" means that certain letter agreement, dated as of November 1, 2023, by and between Sagent Pharmaceuticals and Indivior Inc. with respect to the reconveyance of certain real property described therein.

"**Sale and Lease-Back Transaction**" has the meaning assigned to such term in <u>Section</u> <u>6.08</u>.

"**Sanctions**" has the meaning assigned to such term in <u>Section</u> <u>3.19(a)</u>.

"**SEC**" means the Securities and Exchange Commission, or any Governmental Authority succeeding to any or all of its functions.

"**Secured Hedging Obligations**" means all Hedging Obligations (other than any Excluded Swap Obligations) under each Hedge Agreement that (a) is in effect on the Closing Date between any Note Party and a counterparty that is the Administrative Agent, a Holder or any Affiliate of the Administrative Agent or a Holder as of the Closing Date or (b) is entered into after the Closing Date between any Note Party and (i) any counterparty that is (or is an Affiliate of) the Administrative Agent or any Holder at the time such Hedge Agreement is entered into or (ii) a Permitted Hedge Counterparty, in each case, for which such Note Party agrees to provide security and in each case that has been designated to the Administrative Agent in writing by the Issuer as being a Secured Hedging Obligation for purposes of the Notes Documents, it being understood that each counterparty thereto shall be deemed (A) to appoint the Administrative Agent as its agent under the applicable Notes Documents and (B) to agree to be bound by the provisions of <u>Article 8</u>, <u>Section</u> <u>9.03</u> and <u>Section</u> <u>9.10</u> as if it were a Holder. For purposes of the preceding sentence, the Issuer may deliver a single notice designating all Hedging Obligations with respect to Derivative Transactions under a single master agreement as "Secured Hedging Obligations".

"**Secured Obligations**" means all Obligations, together with (a) all Banking Services Obligations, (b) all Secured Hedging Obligations and (c) all Erroneous Payment Subrogation Rights.

"**Secured Parties**" means (i) the Holders, (ii) the Administrative Agent, (iii) each counterparty to a Hedge Agreement with a Note Party the obligations under which constitute Secured Hedging Obligations, (iv) each provider of Banking Services to any Note Party the obligations under which constitute Banking Services Obligations and (v) the Indemnified Persons and any other beneficiaries of each indemnification obligation undertaken by any Note Party under any Notes Document and (vii) any Receiver.

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"**Securities**" means any stock, shares, partnership interests, voting trust certificates, certificates of interest or participation in any profit-sharing agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured or unsecured, convertible, subordinated or otherwise, or in general any instruments commonly known as "securities" or any certificates of interest, shares or participations in temporary or interim certificates for the purchase or acquisition of, or any right to subscribe to, purchase or acquire, any of the foregoing; <u>provided</u> that "Securities" shall not include any earn-out agreement or obligation or any employee bonus or other incentive compensation plan or agreement.

"**Securities Account**" has the meaning assigned to such term in the U.S. Security Agreement.

"**Security Trust Deed**" means each of (i) the English Security Trust Deeds, (ii) the Irish Security Trust Deed and (iii) if any, the Jersey Security Trust Instrument.

"**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).

"**SOFR Note**" means a Note that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (b) of the definition of "Alternate Base Rate".

"**SPC**" has the meaning assigned to such term in <u>Section</u> <u>9.05(e)</u>.

"**Special Purpose Securitization Subsidiary**" shall mean (i) a direct or indirect subsidiary of the Issuer established in connection with a Permitted Securitization Financing for the acquisition of Securitization Assets or interests therein, and which is designated (as provided below) as a "Special Purpose Securitization Subsidiary" (x) with which no Issuer, Holdings nor any of their Restricted Subsidiaries has any contract, agreement, arrangement or understanding (other than pursuant to the Permitted Securitization Documents (including with respect to fees payable in the ordinary course of business in connection with the servicing of accounts receivable and related assets)) on terms less favorable to such Issuer, Holdings or such Restricted Subsidiary than those that might be obtained at the time from persons that are not Affiliates of the Issuer (as determined by the Issuer in good faith) and (y) to which no Issuer, Holdings, nor any other Restricted Subsidiary has any obligation to maintain or preserve such entity's financial condition or cause such entity to achieve certain levels of operating results (other than as contemplated in the definition of "Permitted Securitization Financing") and (ii) any subsidiary of a Special Purpose Securitization Subsidiary. Any such designation shall be evidenced to the Administrative Agent by filing with the Administrative Agent an officer's certificate of the Issuer certifying that, to the best of such officer's knowledge and belief after consultation with counsel, such designation complied with the foregoing conditions.

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"**Specified Acquisition Agreement Representations**" means in connection with any Limited Condition Acquisition, the representations and warranties made by or on behalf of the target of such Limited Condition Acquisition, its subsidiaries or their respective businesses in the applicable acquisition agreement which are material to the interest of the Holders, but only to the extent that the applicable Note Party has the right to terminate its obligations under such acquisition agreement or to decline to consummate such Limited Condition Acquisition as a result of a breach of such representations and warranties.

"**Specified Event of Default**" means an Event of Default under <u>Sections 7.01(a)</u>, <u>(c)</u> (to the extent resulting from a violation of <u>Section</u> <u>6.01</u>, <u>6.02</u>, <u>6.04</u>, <u>6.06</u>, <u>6.07</u> or <u>6.10</u>), <u>(f)</u>, <u>(g)</u> or <u>(k)(i)</u>.

"**Specified Financial Covenant**" has the meaning set forth in <u>Section</u> <u>6.14(c)(ii)</u>.

"**Specified Financial Covenant Default**" has the meaning set forth in <u>Section</u> <u>6.14(c)(ii)</u>.

"**Specified Representations**" means the representations and warranties set forth in <u>Section</u> <u>3.01(a)(i)</u>, <u>Section</u> <u>3.02</u> (as it relates to power and authority and the due authorization, execution, delivery and performance of the Notes Documents and the enforceability thereof), <u>Section</u> <u>3.03(b)(i)</u>, <u>Section</u> <u>3.08</u>, <u>Section</u> <u>3.12</u>, <u>Section</u> <u>3.14</u> (as it relates to the creation, validity and perfection of the security interests in the Collateral, to the extent same are required hereunder as of the Closing Date), <u>Section</u> <u>3.16</u> and <u>Section</u> <u>3.17</u>.

"**Specified Settlement Payments**" means, to the extent actually paid by the Issuer or its Subsidiaries, the litigation settlement payments owed to the U.S. Department of Justice outlined below:

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| | |
|:---|:---|
| ARTICLE 11 **Payment Date** | ARTICLE 12 **Payment Amount** |
|  ARTICLE 13January 2025 | ARTICLE 14$50,000,000 |
|  ARTICLE 15January 2026 | ARTICLE 16$50,000,000 |
|  ARTICLE 17January 2027 | ARTICLE 18$50,000,000 |
|  ARTICLE 19December 2027 | ARTICLE 20$100,000,000 |

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"**Specified Transaction**" shall have the meaning ascribed to such term in <u>Section</u> <u>1.10(a)</u>.

"**Spot Rate**" for a currency shall mean the rate determined by the Administrative Agent to be the rate quoted by the person acting in such capacity as the spot rate for the purchase by such person of such currency with another currency through its principal foreign exchange trading office at approximately 11:00 a.m. Local Time on the date three Business Days prior to the date as of which the foreign exchange computation is made (or if such rate cannot be computed as of such date, such other date as the Administrative Agent shall reasonably determine is appropriate under the circumstances); <u>provided</u> that (x) the Spot Rate may, at the election of the Administrative Agent, be made on the date on which the foreign exchange computation is made for any payment actually made or to be made, or cash collateralization required, of any amounts pursuant to this Agreement (rather than the date which is three Business Days prior to such date), and (y) the Administrative Agent may obtain such spot rate from another financial institution designated by the Administrative Agent if the person acting in such capacity does not have as of the date of determination a spot buying rate for any such currency.

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"**Sterling**" or "**£**" shall mean the lawful currency of the United Kingdom.

"**Subject Person**" has the meaning assigned to such term in the definition of "Consolidated Net Income".

"**Subject Proceeds**" has the meaning assigned to such term in <u>Section</u> <u>2.11(b)(ii)</u>.

"**Subject Transactions**" has the meaning ascribed to such term in the definition of "Pro Forma Basis".

"**Subordinated Indebtedness**" means any Indebtedness of the Issuer or any of its Restricted Subsidiaries that is expressly subordinated in right of payment to the Obligations.

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

"**Subsidiary Guarantor**" means (x) on the Closing Date, each subsidiary of the Issuer (other than any subsidiary that is an Excluded Subsidiary on the Closing Date) and (y) thereafter, each subsidiary of the Issuer that guarantees the Secured Obligations pursuant to the terms of this Agreement, in each case, until such time as the relevant subsidiary is released from its obligations under the Note Guaranty in accordance with the terms and provisions hereof.

"**Substitute Affiliated Holder**" has the meaning assigned to such term in <u>Section</u> <u>9.05(i)(i)(B)</u>.

"**Substitute Facility Office**" has the meaning assigned to such term in <u>Section</u> <u>9.05(i)(i)(A)</u>.

"**Supplier**" has the meaning assigned to such term in <u>Section</u> <u>2.17(p)(ii)</u>.

"**Swap Obligations**" means, with respect to any Note Party, any obligation to pay or perform under any agreement, contract or transaction that constitutes a "swap" within the meaning of Section 1a(47) of the Commodity Exchange Act.

"**Tax Sharing Agreement**" means a contractual arrangement, a principal purpose of which is the sharing or allocation of or indemnification for, or nomination of responsibility for payment of, income or corporation income Taxes and shall not, for purposes of greater certainty, include commercial agreements entered into in the ordinary course of business and not principally concerning Taxes.

"**Taxes**" means any and all present and future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority in any jurisdiction, including any interest, additions to tax, or penalties applicable thereto, and "**Tax**" shall have the corresponding meaning.

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"**Termination Date**" has the meaning assigned to such term in the introductory paragraph to <u>Article</u> <u>5</u>.

"**Term Holder**" means (i) on the Closing Date, a Purchaser with an Initial Term Note Commitment and (ii) as of any other date of determination, a Holder with an Additional Term Note Commitment or an outstanding Initial Term Note or Additional Term Note as of such date.

"**Term Note**" means the Initial Term Notes and, if applicable, any Additional Term Notes.

"**Term SOFR**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for any calculation with respect to a SOFR Note, 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; <u>provided</u>, <u>however</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, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for any calculation with respect to an ABR Note on any day, the Term SOFR Reference Rate for a tenor of one month on the day (such day, the "**ABR 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; <u>provided</u>, <u>however</u>, that if as of 5:00 p.m. (New York City time) on any ABR 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 ABR SOFR Determination Day.

Notwithstanding anything to the contrary set forth above, if Term SOFR as so determined shall ever be less than the Floor, then Term SOFR shall be deemed to be the Floor.

"**Term SOFR Adjustment**" means, for any calculation with reflect to an ABR Loan or a SOFR Loan, a percentage equal to 0.25% per annum.

"**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 Reference Rate**" means the forward-looking term rate based on SOFR.

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"**Test Period**" means, as of any date, the period of four consecutive Fiscal Quarters then most recently ended for which financial statements under <u>Section</u> <u>5.01(a)</u> or <u>Section</u> <u>5.01(b)</u>, as applicable, have been delivered (or are required to have been delivered); it being understood and agreed that prior to the first delivery of financial statements of <u>Section</u> <u>5.01(a)</u>, "Test Period" means the most recent period of four consecutive Fiscal Quarters in respect of which financial statements were delivered pursuant to <u>Section</u> <u>4.01(c)</u>.

"**Third Party Payor**" means Medicare, Medicaid, TRICARE, Blue Cross and/or Blue Shield, private insurers, managed care plans and any other state or federal health care program sponsored, approved and/or administered by CMS.

"**Threshold Amount**" means $25,000,000.

"**<u>TopCo</u><u>" means Indivior Pharmaceuticals, Inc., a Delaware corporation.</u>**

"**Total Leverage Ratio**" means the ratio, as of any date of determination, of (a) (i) Consolidated Total Debt outstanding as of such date *minus* (ii) Cash and Cash Equivalents of the Issuer and the other Note Parties in an amount not to exceed $50,000,000 to (b) Consolidated Adjusted EBITDA for the Test Period then most recently ended or the Test Period otherwise specified where the term "Total Leverage Ratio" is used in this Agreement in each case for Holdings and its Restricted Subsidiaries.

"**Total Variable Note Commitment**" means, at any time, the aggregate amount of the Variable Note Commitments, as in effect at such time.

"**Trade Date**" has the meaning assigned to such term in <u>Section</u> <u>9.05(f)(i)</u>.

"**Trademark**" means the following: (a) all trademarks (including service marks), common law marks, trade names, trade dress, Internet domain names and logos, slogans and other indicia of origin under the laws of any jurisdiction in the world, and the registrations and applications for registration thereof and the goodwill of the business symbolized by the foregoing; (b) all renewals of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due or payable with respect thereto, including, without limitation, damages, claims, and payments for past and future infringements thereof; (d) all rights to sue for past, present, and future infringements of the foregoing, including the right to settle suits involving claims and demands for royalties owing; and (e) all domestic rights corresponding to any of the foregoing.

"**Transaction Costs**" means fees, premiums, expenses and other transaction costs (including original issue discount or upfront fees) payable or otherwise borne by Indivior PLC and its Subsidiaries in connection with the Transactions and the transactions contemplated thereby.

"**Transactions**" means, collectively, (a) the execution, delivery and performance by the Note Parties of the Notes Documents to which they are a party and the Borrowing of Notes hereunder, (b) the Refinancing and (c) the payment of Transaction Costs.

"**Transformational Event**" means any acquisition or investment by the Issuer or any Restricted Subsidiary that is either (a) not permitted by the terms of this Agreement immediately prior to the consummation of such acquisition or investment or (b) if permitted by the terms of this Agreement immediately prior to the consummation of such acquisition or investment, would not provide the Issuer and their Restricted Subsidiaries with adequate flexibility under this Agreement for the continuation and/or expansion of their combined operations following such consummation, as determined by the Issuer acting in good faith.

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"**Treasury Capital Stock**" has the meaning assigned to such term in <u>Section</u> <u>6.04(a)(viii)</u>.

"**Treasury Regulations**" means the U.S. federal income tax regulations, including temporary and, to the extent taxpayers are permitted to rely on them, proposed regulations, promulgated under the Code, as such regulations may be amended from time to time.

"**TRICARE**" means the program administered pursuant to 10 U.S.C. Section 1071 et. seq), Sections 1320a-7 and 1320a-7a of Title 42 of the United States Code and the regulations promulgated pursuant to such statutes.

"**Type**", when used in reference to any Note or Borrowing, refers to whether the rate of interest on such Note, or on the Notes comprising such Borrowing, is determined by reference to Adjusted Term SOFR or (in the case of a Note or Borrowing denominated in Dollars) the Alternate Base Rate.

"**UCC**" means the Uniform Commercial Code as in effect from time to time in the State of New York or any other state the laws of which are required to be applied in connection with the issue or perfection of security interests.

"**UK Financial Institution**" means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form 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.

"**Unfunded Advances/Participations**" means with respect to the Administrative Agent, the aggregate amount, if any (i) made available to the Issuer on the assumption that each Holder has made available to the Administrative Agent such Holder's share of the applicable Borrowing available to the Administrative Agent as contemplated by <u>Section</u> <u>2.07(b)</u> and/or <u>Section</u> <u>2.18(d)</u> and (ii) with respect to which a corresponding amount shall not in fact have been returned to the Administrative Agent by such Issuer or made available to the Administrative Agent by any such Holder.

"**United Kingdom**" and "**U.K.**" mean the United Kingdom of Great Britain and Northern Ireland (or any jurisdiction within the United Kingdom).

"**U.K. Issuer**" means RBP Global with respect to a Note whose payments under that Note are treated for United Kingdom tax purposes as arising in the United Kingdom and "**U.K. Issuer**" shall have the corresponding meaning.

"**U.K. Tax Deduction**" means a deduction or withholding for or on account of Tax from payment under a Notes Document, other than any U.S. withholding tax under FATCA.

"**Unrestricted Subsidiary**" means any subsidiary of the Issuer designated by the Issuer as an Unrestricted Subsidiary after the Closing Date pursuant to <u>Section</u> <u>5.10</u>. Notwithstanding the foregoing, in no circumstances shall the Issuer be permitted to be an Unrestricted Subsidiary.

"**Unused Variable Note Commitment**" of any Holder, at any time, means the Dollar Equivalent of the remainder of the Variable Note Commitment of such Holder at such time, if any, *less* the aggregate Outstanding Amount of Variable Notes purchased by such Holder.

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"**U.S.**" means the United States of America.

"**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.

"**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. No. 107-56 (signed into law October 26, 2001)).

"**U.S. Security Agreement**" means the U.S. Security Agreement, substantially in the form of <u>Exhibit J</u>, among the Note Parties (to the extent that such Persons are incorporated or organized under (or own Capital Stock in, or any Material Debt Instrument issued by, any Person incorporated or organized under) the laws of the U.S., any state thereof or the District of Columbia) and the Administrative Agent for the benefit of the Secured Parties.

"**U.S. Tax Compliance Certificate**" has the meaning assigned to such term in <u>Section</u> <u>2.17(k)(ii)(B)(3)</u>.

"**Variable Note Commitment**" means, with respect to each Holder, the commitment of such Holder to make Variable Notes hereunder as set forth on Schedule 1.01(a), or in the Assignment and Assumption pursuant to which such Holder assumed its Variable Note Commitment, as applicable, as the same may be (a) reduced from time to time pursuant to <u>Section</u> <u>2.09</u>, <u>Section</u> <u>2.11</u>, <u>Section</u> <u>2.19</u> or <u>Section</u> <u>9.02(c)</u>, (b) reduced or increased from time to time pursuant to assignments by or to such Holder pursuant to <u>Section</u> <u>9.05</u> or (c) increased as part of an Incremental Variable Note. As of the Closing Date, the aggregate amount of the Variable Note Commitments is $50,000,000.

"**Variable Note Exposure**" means, with respect to any Holder at any time, the aggregate Outstanding Amount at such time of all Variable Notes of such Holder (calculated, in the case of Variable Notes denominated in an Alternative Currency, based on the Dollar Equivalent thereof).

"**Variable Note Holder**" means (i) on the Closing Date, a Purchaser with an Variable Note Commitment and (ii) as of any other date of determination, a Holder with an Additional Variable Note Commitment or an outstanding Variable Note or Additional Variable Note as of such date.

"**Variable Note Maturity Date**" means the date that is six years after the Closing Date. If such date is not a Business Day, the immediately preceding Business Day.

"**Variable Notes**" means the variable Notes issued by the Issuer to the Holders pursuant to <u>Section</u> <u>2.01(ii)</u>, <u>2.22</u>, <u>2.23</u> or <u>9.02(c)(ii)</u> and, with respect to a Variable Note Holder, means, at any time, such Variable Note Holders' Variable Note Commitments at such time.

"**VAT**" means (a) any value added tax imposed by the Value Added Tax Act 1994; (b) any Tax imposed in compliance with the Council Directive of 28 November 2006 on the common system of value added tax (EC Directive 2006/112); and (c) any other Tax of a similar nature, whether imposed in a member state of the European Union in substitution for, or levied in addition to, the Tax referred to in clauses (a) and (b) above, or imposed elsewhere.

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"**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 Subsidiary**" of any Person means a subsidiary of such Person, 100% of the Capital Stock of which (other than directors' qualifying shares or shares required by law to be owned by a resident of the relevant jurisdiction) shall be owned by such Person or by one or more Wholly-Owned Subsidiaries of such Person.

"**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>Section</u> <u>1.02</u> <u>Classification of Notes and Borrowings</u>. For purposes of this Agreement, Notes may be classified and referred to by Class (*e.g.*, a "Term Note") or by Type (*e.g.*, a "SOFR Note") or by currency (i.e. "Dollar Notes") or by Class and Type (*e.g.*, a "SOFR Term Note"). Borrowings also may be classified and referred to by Class (*e.g.*, a "Term Borrowing") or by Type (*e.g.*, a "SOFR Borrowing") or by currency (i.e. "Dollar Borrowings") or by Class and Type (*e.g.*, a "SOFR Term Borrowing").

Section 1.03 <u>Terms Generally</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(a)</u> The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words "include," "includes" and "including" shall be deemed to be followed by the phrase "without limitation." The word "will" shall be construed to have the same meaning and effect as the word "shall." Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein or in any Notes Document shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, amended and restated, supplemented or otherwise modified or extended, replaced or refinanced (subject to any restrictions or qualifications on such amendments, restatements, amendment and restatements, supplements or modifications or extensions, replacements or refinancings set forth herein), (b) any reference to any law in any Notes Document shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such law, (c) any reference herein or in any Notes Document to any Person shall be construed to include such Person's successors and permitted assigns, (d) the words "herein," "hereof" and "hereunder," and words of similar import, when used in any Notes Document, shall be construed to refer to such Notes Document in its entirety and not to any particular provision hereof, (e) all references herein or in any Notes Document to Articles, Sections, clauses, paragraphs, Exhibits and Schedules shall be construed to refer to Articles, Sections, clauses and paragraphs of, and Exhibits and Schedules to, such Notes Document, (f) in the computation of periods of time in any Notes Document from a specified date to a later specified date, the word "from" means "from and including", the words "to" and "until" mean "to but excluding" and the word "through" means "to and including" and (g) the words "asset" and "property", when used in any Notes Document, 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.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(b)</u> For purposes of determining compliance at any time with <u>Sections 6.01</u>, <u>6.02</u>, <u>6.04(a)</u> and <u>6.06</u>, in the event that any Indebtedness, Lien, Restricted Payment or Investment, as applicable, meets the criteria of more than one of the categories of transactions or items permitted pursuant to any clause of such <u>Sections 6.01</u> (other than <u>Sections 6.01(a)</u>, <u>(i)</u>, <u>(p)</u> (to the extent relating to Indebtedness incurred under <u>Section</u> <u>6.01(a)</u>, <u>(i)</u>, <u>(q)</u>, <u>(w)</u> or <u>(z)</u> (or, in each case, permitted refinancing Indebtedness with respect thereto)) <u>(q)</u>, <u>(w)</u> and <u>(z)</u>, and so long as in no circumstances shall Indebtedness owing to Holdings, the Issuer or any Restricted Subsidiary be justified as incurred or outstanding under <u>Section</u> <u>6.01(a),</u> <u>(q)</u>, <u>(p)</u> (to the extent relating to Indebtedness incurred under <u>Section</u> <u>6.01(a)</u>, <u>(q)</u>, <u>(w)</u> or <u>(z)</u> (or, in each case, permitted refinancing Indebtedness or successive permitted refinancing Indebtedness with respect thereto)), <u>(q)</u>, <u>(w)</u> or <u>(z)</u>), <u>6.02</u> (other than <u>Sections 6.02(a)</u>, <u>(k)</u> (to the extent relating to Liens incurred under <u>Section</u> <u>6.02(a)</u>, <u>(l)</u>, <u>(q)</u> <u>(t)</u> or <u>(jj)</u> (or, in each case, modifications, replacements, refinancings, renewals and extensions thereof)), <u>(o)</u>, <u>(t)</u> and <u>(jj)</u>), <u>6.04(a)</u> and <u>6.06</u> (other than <u>Section</u> <u>6.06(f)</u>), the Issuer, in their sole discretion, may, from time to time, classify, reclassify or divide (and reclassify and redivide) such transaction or item (or portion thereof) under one or more clauses of each such Section set forth above (but not across different Section) and will only be required to include the amount and type of such transaction (or portion thereof) in any one category so long as such transaction (or portion thereof) would be permitted under such other exception at the time of such redesignation. It is understood and agreed that any Indebtedness, Lien, Restricted Payment, Restricted Debt Payment, Investment, Disposition and/or Affiliate transaction need not be permitted solely by reference to one category of permitted Indebtedness, Lien, Restricted Payment, Restricted Debt Payment, Investment, Disposition and/or Affiliate transaction under <u>Sections 6.01</u>, <u>6.02</u>, <u>6.04</u>, <u>6.05</u>, <u>6.06</u>, <u>6.07</u> or <u>6.09</u>, respectively, but may instead be permitted in part under any combination thereof.

<u>Section</u> <u>1.04</u> <u>Accounting Terms; GAAP</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All financial statements to be delivered pursuant to this Agreement shall be prepared in accordance with GAAP as in effect from time to time and, except as otherwise expressly provided herein, all terms of an accounting or financial nature that are used in calculating the Total Leverage Ratio, the First Lien Leverage Ratio, Consolidated Adjusted EBITDA or Consolidated Total Assets shall be construed and interpreted in accordance with GAAP, as in effect from time to time; <u>provided</u> that if the Issuer notifies the Administrative Agent that the Issuer requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date of delivery of the financial statements described in <u>Section</u> <u>3.04(a)</u> in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Issuer that the Required Holders 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 becomes effective until such notice shall have been withdrawn or such provision amended in accordance herewith; <u>provided</u>, <u>further</u>, that if such an amendment is requested by the Issuer or the Required Holders, then the Issuer and the Administrative Agent shall negotiate in good faith to enter into an amendment of the relevant affected provisions (without the payment of any amendment or similar fee to the Holders) to preserve the original intent thereof in light of such change in GAAP or the application thereof; <u>provided</u>, <u>further</u>, that all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made without giving effect to (i) any election under Accounting Standards Codification 825-10-25 (previously referred to as Statement of Financial Accounting Standards 159) (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of Holdings, the Issuer or any subsidiary at "fair value", as defined therein and (ii) any treatment of Indebtedness in respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding anything to the contrary herein, but subject to <u>Section</u> <u>1.12</u>, all financial ratios and tests (including the Total Leverage Ratio, the First Lien Leverage Ratio and the amount of Consolidated Total Assets and Consolidated Adjusted EBITDA) contained in this Agreement that are calculated with respect to any Test Period during which any Subject Transaction occurs shall be calculated with respect to such Test Period and such Subject Transaction on a Pro Forma Basis. Further, if since the beginning of any such Test Period and on or prior to the date of any required calculation of any financial ratio or test (x) any Subject Transaction has occurred or (y) any Person that subsequently became a Restricted Subsidiary or was merged, amalgamated or consolidated with or into the Issuer or any of its Restricted Subsidiaries or any joint venture since the beginning of such Test Period has consummated any Subject Transaction, then, in each case, any applicable financial ratio or test shall be calculated on a Pro Forma Basis for such Test Period as if such Subject Transaction had occurred at the beginning of the applicable Test Period (it being understood, for the avoidance of doubt, that solely for purposes of calculating the Total Leverage Ratio for purposes of the definitions of "Applicable Rate", in each case, the date of the required calculation shall be the last day of the Test Period, and no Subject Transaction occurring thereafter shall be taken into account).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding anything to the contrary contained in <u>paragraph (a)</u> above or in the definition of "Capital Lease", in the event of an accounting change requiring all leases to be capitalized, only those leases (assuming for purposes hereof that such leases were in existence on the date hereof) that would constitute Capital Leases in conformity with GAAP on the date hereof shall be considered Capital Leases, and all calculations and deliverables under this Agreement or any other Notes Document shall be made or delivered, as applicable, in accordance therewith (<u>provided</u> that together with all financial statements delivered to the Administrative Agent in accordance with the terms of this Agreement after the date of any such accounting change, the Issuer shall deliver a schedule showing the adjustments necessary to reconcile such financial statements with GAAP as in effect immediately prior to such accounting change).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding anything to the contrary contained herein, any reference to Regulation S-X of the Securities Act of 1933 or action taken in reliance thereof shall be treated as references to Regulation S-X as in effect prior to January 1, 2021.

Section 1.05 <u>Effectuation of Transactions</u>. Each of the representations and warranties contained in this Agreement (and all corresponding definitions) is made after giving effect to the Transactions (or in the case of representations and warranties to be made on the Closing Date, such portions of the Transactions as have been or are to be consummated on or prior to such date), unless the context otherwise requires.

Section 1.06 <u>Timing of Payment of Performance</u>. When payment of any obligation or the performance of any covenant, duty or obligation is stated to be due or 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, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension.

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Section 1.07 <u>Exchange Rates; Currency Equivalents</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Administrative Agent shall determine the Spot Rates as of each Revaluation Date to be used for calculating Dollar Equivalent and Alternative Currency Equivalent (as applicable) amounts of Variable Notes, and any other applicable amount denominated in currencies other than Dollars. Such Spot Rates shall become effective as of such Revaluation Date and shall be the Spot Rates employed in converting any amounts between the applicable currencies until the next Revaluation Date to occur. Except for purposes of financial statements delivered by Note Parties hereunder or calculating financial covenants hereunder or except as otherwise provided herein, the applicable amount of any currency (other than Dollars) for purposes of the Notes Documents shall be such Dollar Equivalent amount as so determined by the Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Wherever in this Agreement in connection with a Borrowing under the Variable Note, continuation or prepayment of a Variable Note or the assignment of any Note or Commitment denominated in any Alternative Currency, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but such Borrowing, Note or Commitment is denominated in an Alternative Currency, such amount shall be the relevant Alternative Currency Equivalent of such Dollar amount (rounded to the nearest unit of such Alternative Currency, with 0.5 of a unit being rounded upward), as determined by the Administrative Agent.

Section 1.08 <u>Additional Alternative Currencies</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Issuer may from time to time request that Variable Notes be made be issued in a currency other than those specifically listed in the definition of "Alternative Currency"; <u>provided</u> that such requested currency is a lawful currency (other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Variable Notes, such request shall be subject to the approval of the Administrative Agent and all of the Variable Note Holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., Local Time, 20 Business Days prior to the date of the desired Note Issuance (or such other time or date as may be agreed by the Administrative Agent). In the case of any such request pertaining to Variable Notes, the Administrative Agent shall promptly notify each Variable Note Holder thereof. Each Variable Note Holder shall notify the Administrative Agent, not later than 11:00 a.m., Local Time, ten Business Days after receipt of such request whether it consents, in its sole discretion, to the making of Variable Notes in such requested currency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any failure by a Holder to respond to such request within the time period specified in the preceding sentence shall be deemed to be a refusal by such Holder to permit Variable Notes to be made in such requested currency. If the Administrative Agent and all the Variable Note Holders consent to making Variable Notes in such requested currency, the Administrative Agent shall so notify the Issuer and such currency shall (subject to any amendments to this Agreement as may be required pursuant to <u>Section</u> <u>9.02(e)</u>) thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Variable Note Borrowings. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this Section 1.08, the Administrative Agent shall promptly so notify the Issuer.

Section 1.09 <u>Times of Day</u>. Unless otherwise specified, all references herein to times of day shall be references to New York City time (daylight or standard, as applicable).

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Section 1.10 <u>Currency Generally</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) For purposes of any determination under <u>Article</u> <u>5</u>, <u>Article 6</u> (other than <u>Section</u> <u>6.14</u> and the calculation of compliance with any financial ratio for purposes of taking any action hereunder) or <u>Article 7</u> with respect to the amount of any Indebtedness, Lien, Restricted Payment, Restricted Debt Payment, Investment, Disposition, Sale and Lease-Back Transaction, affiliate transaction or other transaction, event or circumstance, or any determination under any other provision of this Agreement (other than in connection with any Variable Notes denominated in any Alternative Currency) (any of the foregoing, a "**Specified Transaction**"), in a currency other than Dollars, (i) the Dollar equivalent amount of a Specified Transaction in a currency other than Dollars shall be calculated based on the rate of exchange quoted by the Bloomberg Foreign Exchange Rates & World Currencies Page (or any successor page thereto, or in the event such rate does not appear on any Bloomberg Page, by reference to such other publicly available service for displaying exchange rates as may be agreed upon by the Administrative Agent and the Issuer) for such foreign currency, as in effect at 11:00 a.m. (London time) on the date of such Specified Transaction (which, in the case of any Restricted Payment, shall be deemed to be the date of the declaration thereof and, in the case of the incurrence of Indebtedness, shall be deemed to be on the date first committed); <u>provided</u> that if any Indebtedness is incurred (and, if applicable, associated Lien granted) to refinance or replace other Indebtedness denominated in a currency other than Dollars, and the relevant refinancing or replacement would cause the applicable Dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing or replacement, such Dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing or replacement Indebtedness (and, if applicable, associated Lien granted) does not exceed an amount sufficient to repay the principal amount of such Indebtedness being refinanced or replaced, except by an amount equal to (x) unpaid accrued interest and premiums (including tender premiums) thereon *plus* other reasonable and customary fees and expenses (including upfront fees and original issue discount) incurred in connection with such refinancing or replacement, (y) any existing commitments unutilized thereunder and (z) additional amounts permitted to be incurred under <u>Section</u> <u>6.01</u> (so long as any such additional amounts are justified under and incurred in accordance with one or more of the applicable exceptions to <u>Section</u> <u>6.01</u> (other than <u>Section</u> <u>6.01(p)</u>) and (ii) for the avoidance of doubt, no Default or Event of Default shall be deemed to have occurred solely as a result of a change in the rate of currency exchange occurring after the time of any Specified Transaction so long as such Specified Transaction was permitted at the time incurred, made, acquired, committed, entered or declared as set forth in <u>clause</u> <u>(i)</u>. For purposes of <u>Section</u> <u>6.14</u> and the calculation of compliance with any financial ratio for purposes of taking any action hereunder (other than in connection with any Variable Notes denominated in any Alternative Currency), on any relevant date of determination, amounts denominated in currencies other than Dollars shall be (other than in connection with any Variable Notes denominated in any Alternative Currency) translated into Dollars at the applicable currency exchange rate used in preparing the financial statements delivered pursuant to <u>Section</u> <u>5.01(a)</u> or <u>(b)</u>, as applicable, for the relevant Test Period and will, with respect to any Indebtedness, reflect the currency translation effects, determined in accordance with GAAP, of any Hedge Agreement permitted hereunder in respect of currency exchange risks with respect to the applicable currency in effect on the date of determination for the Dollar equivalent amount of such Indebtedness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time specify with the Issuer's consent to appropriately reflect a change in currency of any country and any relevant market convention or practice relating to such change in currency.

Section 1.11 <u>Cashless Rollovers</u>. Notwithstanding anything to the contrary contained in this Agreement or in any other Notes Document, to the extent that any Holder extends the maturity date of, or replaces, renews or refinances, any of its then**-**existing Notes with Incremental Notes, Replacement Term Notes, Notes in connection with any Replacement Variable Note, Extended Term Notes, Extended Variable Notes or notes incurred under a new note purchase agreement, in each case, to the extent such extension, replacement, renewal or refinancing is effected by means of a "cashless roll" by such Holder, such extension, replacement, renewal or refinancing shall be deemed to comply with any requirement hereunder or any other Notes Document that such payment be made "in Dollars", "in immediately available funds", "in Cash" or any other similar requirement.

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Section 1.12 <u>Certain Calculations and Tests</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding anything to the contrary herein, to the extent that the terms of this Agreement require (i) compliance with any financial ratio or test (including, without limitation, any First Lien Leverage Ratio test, any Total Leverage Ratio test) and/or the amount of Consolidated Adjusted EBITDA or Consolidated Total Assets or (ii) the absence of a Default or Event of Default (or any type of Default or Event of Default) as a condition to (A) the making of any Restricted Payment and/or (B) the making of any Restricted Debt Payment, the determination of whether the relevant condition is satisfied may be made, at the election of the Issuer, (1) in the case of any Restricted Payment, at the time of (or on the basis of the financial statements for the most recently ended Test Period at the time of) (x) the declaration of such Restricted Payment so long as such Restricted Payment is actually made within 60 days of the declaration thereof or (y) the making of such Restricted Payment and (2) in the case of any Restricted Debt Payment, at the time of (or on the basis of the financial statements for the most recently ended Test Period at the time of) (x) delivery of irrevocable (which may be conditional) notice with respect to such Restricted Debt Payment so long as such Restricted Debt Payment is actually made within 60 days of the delivery of such notice or (y) the making of such Restricted Debt Payment, in each case, after giving effect to the relevant acquisition, Restricted Payment and/or Restricted Debt Payment on a Pro Forma Basis; <u>provided</u> that if the Issuer has made such an election, in connection with the calculation of any ratio, test or basket with respect to the incurrence of any Indebtedness (including any Incremental Facilities) or Liens, or the making of any Investments, Restricted Payments, Restricted Debt Payments, Dispositions, fundamental changes or the designation of a Restricted Subsidiary or Unrestricted Subsidiary on or following such date and prior to the earlier of the date on which such Restricted Payment or Restricted Debt Payment (as applicable) is made, any such ratio, test or basket shall be calculated on a Pro Forma Basis assuming such Restricted Payment or Restricted Debt Payment (as applicable) and other pro forma events in connection therewith (including any incurrence of Indebtedness) have been consummated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For purposes of determining the permissibility of any action, change, transaction or event that requires a calculation of any financial ratio or test (including, without limitation, any First Lien Leverage Ratio test, any Total Leverage Ratio test and/or the amount of Consolidated Adjusted EBITDA or Consolidated Total Assets), such financial ratio or test shall be calculated at the time such action is taken (subject to <u>clause (a)</u> above), such change is made, such transaction is consummated or such event occurs, as the case may be, and no Default or Event of Default shall be deemed to have occurred solely as a result of a change in such financial ratio or test occurring after the time such action is taken, such change is made, such transaction is consummated or such event occurs, 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;(c) Notwithstanding anything to the contrary herein, with respect to any amounts incurred or transactions entered into (or consummated) in reliance on a provision of this Agreement that does not require compliance with a financial ratio based test (including, without limitation, any First Lien Leverage Ratio test and/or any Total Leverage Ratio test) but that does require compliance with a fixed dollar basket (any such amounts, the "**Fixed Amounts**") substantially concurrently with any amounts incurred or transactions entered into (or consummated) in reliance on a provision of this Agreement that requires compliance with a financial ratio based test (including, without limitation, any First Lien Leverage Ratio test and/or any Total Leverage Ratio test) (any such amounts, the "**Incurrence-Based Amounts**"), it is understood and agreed that the Fixed Amounts shall be disregarded in the calculation of the financial ratio or test applicable to the Incurrence-Based Amounts.

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Section 1.13 <u>Rounding</u>. Any financial ratios required to be maintained by the Issuer 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 for five).

Section 1.14 <u>Benchmark Replacement</u>. The Administrative Agent does not warrant nor accept any responsibility for, and shall not have any liability with respect to (a) the continuation of, administrative of, submission of, calculation of or any other matter related to Alternate Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR 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, Alternate Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR, 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 Alternate Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR, 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 Issuer. The Administrative Agent may select information sources or services in its reasonable discretion to ascertain Alternate Base Rate, the Term SOFR Reference Rate, Adjusted Term SOFR, Term SOFR or any other Benchmark, in each case pursuant to the terms of this Agreement, and shall have no liability to the Issuer, any Holder 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 1.15 <u>Irish Terms</u>. In this Agreement, where it relates to an Irish Note Party, a reference to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "unable to pay its debts" will be deemed to mean unable to pay its debts within the meaning of Section 570(d) of the Irish Companies Act; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the term "examiner" shall have the meaning given to it in Section 508(1) of the Irish Companies Act and the term "examinership" shall be construed in accordance with the Irish Companies Act.

<u>Section</u> <u>1.16</u> <u>Special</u><u> </u><u>Luxembourg</u> <u>Provisions</u>

Without prejudice to the generality of any provision of this Agreement, to the extent this Agreement relates to any Lux Note Party, a reference to (a) a receiver, administrative receiver, administrator, trustee, custodian, sequestrator, conservator or similar officer appointed for the reorganization or liquidation of the business of a person includes, without limitation, a *juge délégué, commissaire, juge-commissaire, mandataire ad hoc, administrateur provisoire, liquidateur or curateur*, (b) a lien or security interest includes any *hypothèque, nantissement, gage, privilège, sûreté réelle, droit de rétention* and any type of security *in rem* (*sûreté réelle*) or agreement or arrangement having a similar effect and any transfer of title by way of security, (c) a Person being unable to pay its debts includes that person being in a state of *cessation de paiements*; (d) creditors process means an executory attachment (*saisie exécutoire*) or conservatory attachment (*saisie conservatoire*), (e) by-laws or constitutional documents includes its up-to-date (restated) articles of association (*statuts coordonnés*), and (f) a director includes an *administrateur* or a *gérant*.

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<u>Section</u> <u>1.17</u> <u>Special</u><u> </u><u>Jersey</u> <u>Provisions</u>

Without prejudice to the generality of any provision of this Agreement, to the extent this Agreement relates to any Jersey Group Member or a Note Party that has tangible immovable property in Jersey, a reference to (a) a composition, compromise, assignment or arrangement with any creditor, winding up, liquidation, administration, dissolution, insolvency event or insolvency includes, without limitation, bankruptcy (as that term is interpreted pursuant to Article 8 of the Interpretation (Jersey) Law 1954), a compromise or arrangement of the type referred to in Article 125 of the Companies (Jersey) Law 1991 and any procedure or process referred to in Part 21 of the Companies (Jersey) Law 1991, (b) a *liquidator, receiver, administrative receiver, administrator* or the like includes, without limitation, the Viscount of the Royal Court of Jersey, *Autorisés* or any other person performing the same function of each of the foregoing, (c) a security interest includes, without limitation, any *hypothèque* whether conventional, judicial or arising by operation of law and any security interest created pursuant to the Security Interests (Jersey) Law 1983 or Security Interests (Jersey) Law 2012 and any related legislation (d) any equivalent or analogous procedure or step being taken in connection with insolvency includes any corporate action, legal proceedings or other formal procedure or step being taken in connection with an application for a declaration of *en désastre* being made in respect of any assets of such person (or the making of such declaration) and (e) constitutional documents includes all consents issued to that entity pursuant to the Control of Borrowing (Jersey) Order 1958.

ARTICLE 2

THE NOTES

Section 2.01 <u>Commitments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to the terms and conditions set forth herein, the Issuer hereby agrees to issue and sell to each Holder and (i) each Term Holder severally, and not jointly, agrees to purchase from the Issuer the Initial Term Notes to the Issuer on the Closing Date in Dollars in a principal amount not to exceed its Initial Term Note Commitment and (ii) each Variable Note Holder severally, and not jointly, agrees to purchase from the Issuer the Variable Notes to the Issuer at any time and from time to time on and after the Closing Date, and until the earlier of the Variable Note Maturity Date and the termination of the Variable Note Commitment of such Variable Note Holder in accordance with the terms hereof, in Dollars or one or more Alternative Currencies, <u>provided</u> that (i) after giving effect to any Borrowing of Variable Notes, the Dollar Equivalent of the Outstanding Amount of such Variable Note Holder's Variable Note Exposure shall not exceed such Variable Note Holder's Variable Note Commitment and (ii) after giving effect to any Borrowing of Variable Notes in an Alternative Currency, the Dollar Equivalent of the Outstanding Amount of all Variable Note denominated in such Alternative Currency shall not exceed the applicable Alternative Currency Sublimit. Within the foregoing limits and subject to the terms, conditions and limitations set forth herein, the Issuer may borrow, pay or prepay and reborrow Variable Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Amounts paid or prepaid in respect of the Term Notes may not be reborrowed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The failure of any Holder to purchase its Note shall not relieve any other Holder of its obligation to purchase its Note, but no Holder shall be responsible for the failure of any other Holder to purchase such other Holder's Note.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Administrative Agent, on behalf of each Holder, shall record in its records the date and amount of each Note and each repayment thereof. The aggregate unpaid principal amount so recorded shall be rebuttably presumptive evidence of the principal amount of the Notes outstanding. The failure to so record any such amount or any error in so recording any such amount shall not, however, limit or otherwise affect the Obligations of the Issuer or Note Party hereunder or under any Note to repay the principal amount of the Notes hereunder, together with all interest accruing thereon.

Section 2.02 <u>Notes and Borrowings</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Note shall be made as part of a Borrowing consisting of Notes of the same Class, currency and Type purchased by the Holders ratably in accordance with their respective Commitments of the applicable Class.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to <u>Section</u> <u>2.01</u> and <u>Section</u> <u>2.14</u>, each Borrowing shall be comprised entirely of ABR Notes or SOFR Notes as the applicable Issuer may request in accordance herewith; <u>provided</u> that each ABR Note shall only be made in Dollars. Each Holder at its option may make any SOFR Note by causing any domestic or foreign branch or Affiliate of such Holder to make such Note; <u>provided</u> that (i) any exercise of such option shall not affect the obligation of the applicable Issuer to repay such Note in accordance with the terms of this Agreement, (ii) such SOFR Note shall be deemed to have been made and held by such Holder, and the obligation of the applicable Issuer to repay such SOFR Note shall nevertheless be to such Holder for the account of such domestic or foreign branch or Affiliate of such Holder and (iii) in exercising such option, such Holder shall use reasonable efforts to minimize increased costs to the Issuer resulting therefrom (which obligation of such Holder shall not require it to take, or refrain from taking, actions that it determines would result in increased costs for which it will not be compensated hereunder or that it otherwise determines would be disadvantageous to it and in the event of such request for costs for which compensation is provided under this Agreement, the provisions of <u>Section</u> <u>2.15</u> shall apply); <u>provided</u> <u>further</u> that any such domestic or foreign branch or Affiliate of such Holder shall not be entitled to any greater indemnification under <u>Section</u> <u>2.17</u> with respect to such SOFR Note than that to which the applicable Holder was entitled on the date on which such Note was made (except in connection with any indemnification entitlement arising as a result of a Change in Law after the date on which such Note was made).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) At the commencement of each Interest Period for any Borrowing of Variable Notes, such Borrowing shall comprise an aggregate principal amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum; <u>provided</u> that an ABR Variable Note Borrowing may be made in a lesser aggregate amount that is equal to the entire aggregate Unused Variable Note Commitments. Borrowings of more than one Type and Class may be outstanding at the same time; <u>provided</u> that there shall not at any time be more than a total of 10 different Interest Periods in effect for SOFR Borrowings at any time outstanding (or such greater number of different Interest Periods as the Administrative Agent may agree from time to time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding any other provision of this Agreement, no Issuer shall, nor shall the Issuer be entitled to, request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date applicable to such Notes.

Section 2.03 <u>Requests for Borrowings</u>. Each Borrowing of Term Notes, each Borrowing of Variable Notes, each conversion of Term Notes or Variable Notes from one Type to the other, and each continuation of SOFR Notes shall be made upon irrevocable notice by the applicable Issuer to the Administrative Agent. Each such notice must be in writing and must be received by the Administrative Agent (by hand delivery, fax or other electronic transmission (including ".pdf" or ".tif")) not later than 12:00 p.m., Local Time, (i) three Business Days prior to the requested day of any Borrowing, conversion

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or continuation of SOFR Notes denominated in Dollars, (ii) on the requested date of any Borrowing of ABR Notes denominated in Dollars, or (iii) five Business Days prior to the requested day of any Borrowing, conversion or continuation of SOFR Notes denominated in an Alternative Currency (or, in the case of <u>clause (iii)</u>, such later time as shall be acceptable to the Administrative Agent). Each written notice with respect to a Borrowing by the applicable Issuer pursuant to this <u>Section</u> <u>2.03</u> shall be delivered to the Administrative Agent in the form of a written Borrowing Request, appropriately completed and signed by a Responsible Officer of the applicable Issuer. Each such written Borrowing Request shall specify the following information in compliance with <u>Section</u> <u>2.02</u>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Class of such Borrowing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the aggregate principal amount of the requested Borrowing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the date of such Borrowing, 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;(d) whether such Borrowing is to be an ABR Borrowing or a SOFR Borrowing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) in the case of a SOFR Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term "Interest Period";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the currency of such Borrowing; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the location and number of the applicable Issuer's account or any other designated account(s) to which funds are to be disbursed (the "**Funding Account**").

If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing (unless the requested Borrowing is of Variable Notes denominated in an Alternative Currency, in which case the requested Borrowing shall be ineffective). If no Interest Period is specified with respect to any requested SOFR Borrowing, then the applicable Issuer shall be deemed to have selected an Interest Period of one month's duration. If no currency is specified with respect to any Borrowing of Variable Notes, then the applicable Issuer shall be deemed to have selected Dollars. The Administrative Agent shall advise each Holder of the details thereof and of the amount of the Note to be made as part of the requested Borrowing (x) in the case of any ABR Borrowing, on the same Business Day of receipt of a Borrowing Request in accordance with this <u>Section</u> <u>2.03</u> or (y) in the case of any SOFR Borrowing, no later than one Business Day following receipt of a Borrowing Request in accordance with this <u>Section</u> <u>2.03</u>.

<u>Section</u> <u>2.04</u> <u>[Reserved]</u>.

<u>Section</u> <u>2.05</u> <u>[Reserved]</u>.

Section 2.06 [<u>Reserved</u>].

Section 2.07 <u>Funding of Borrowings</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Holder shall purchase each Note to be purchased by it hereunder on the proposed date thereof by wire transfer of immediately available funds by 1:00 p.m., Local Time, in the case of any Note denominated in Dollars, and not later than the Applicable Time specified by the Administrative Agent in the case of any Variable Note denominated in an Alternative Currency, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Holders in an amount equal to such Holder's respective Applicable Percentage. The Administrative Agent will make such Notes available to the applicable Issuer by promptly crediting the amounts so received, in like funds, to the Funding Account or as otherwise directed by the applicable Issuer.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Unless the Administrative Agent has received written notice from any Holder prior to the proposed date of any Borrowing that such Holder will not make available to the Administrative Agent such Holder's share of such Borrowing, the Administrative Agent may assume that such Holder has made such share available on such date in accordance with <u>paragraph (a)</u> of this <u>Section</u> <u>2.07</u> and may, in reliance upon such assumption, make available to the applicable Issuer a corresponding amount. In such event, if any Holder has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Holder and the applicable Issuer severally agree to pay to the Administrative Agent forthwith on demand (without duplication) such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the applicable Issuer(s) to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Holder, 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 (including, without limitation, the Overnight Foreign Currency Rate in the case of Variable Notes denominated in an Alternative Currency) or (ii) in the case of such Issuer, the interest rate applicable to Notes comprising such Borrowing at such time. If such Holder pays such amount to the Administrative Agent, then such amount shall constitute such Holder's Note included in such Borrowing and such Issuer's obligation to repay the Administrative Agent such corresponding amount pursuant to this <u>Section</u> <u>2.07(b)</u> shall cease. If such Issuer pays such amount to the Administrative Agent, the amount so paid shall constitute a repayment of such Borrowing by such amount. Nothing herein shall be deemed to relieve any Holder from its obligation to fulfill its Commitment or to prejudice any rights which the Administrative Agent or the Issuer or any other Note Party may have against any Holder as a result of any default by such Holder hereunder.

Section 2.08 <u>Type; Interest Elections</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a SOFR Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the applicable Issuer may elect to convert any Borrowing to a Borrowing of a different Type or to continue such Borrowing and, in the case of a SOFR Borrowing, may elect Interest Periods therefor, all as provided in this <u>Section</u> <u>2.08</u>. The applicable Issuer may elect different Types with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the applicable Holders based upon their Applicable Percentages and the Notes comprising each such portion shall be considered a separate Borrowing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To make an election pursuant to this <u>Section</u> <u>2.08</u>, the applicable Issuer shall notify the Administrative Agent of such election in writing in the form of an Interest Election Request (by hand delivery, fax or other electronic transmission (including ".pdf" or ".tif")) by the time that a Borrowing Request would be required under <u>Section</u> <u>2.03</u> if such Issuer were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery, e-mail or other electronic transmission (including ".pdf" or ".tif") to the Administrative Agent of a written Interest Election Request signed by a Responsible Officer of such Issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each written Interest Election Request shall specify the following information in compliance with <u>Section</u> <u>2.02</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;(i) the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to <u>clauses (iii)</u> and <u>(iv)</u> below shall be specified for each resulting Borrowing);

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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;(ii) the effective date of the election made pursuant to such Interest Election Request, 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;&nbsp;&nbsp;&nbsp;&nbsp;(iii) whether the resulting Borrowing is to be an ABR Borrowing or a SOFR Borrowing; 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;(iv) if the resulting Borrowing is a SOFR Borrowing, the Interest Period to be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term "Interest Period".

If any such Interest Election Request requests a SOFR Borrowing but does not specify an Interest Period, then the applicable Issuer shall be deemed to have selected an Interest Period of one month's duration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each applicable Holder of the details thereof and of such Holder's portion of each resulting Borrowing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If any applicable Issuer fails to deliver a timely Interest Election Request with respect to a SOFR Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, such Borrowing shall be converted at the end of such Interest Period to a SOFR Borrowing with an Interest Period of one month. Notwithstanding any contrary provision hereof, if an Event of Default exists and the Administrative Agent, at the request of the Required Holders, so notifies the Issuer, then, so long as such Event of Default exists (i) no outstanding Borrowing may be converted to or continued as a SOFR Borrowing and (ii) unless repaid, each SOFR Borrowing shall be converted to an ABR Borrowing (and any such SOFR Borrowing denominated in an Alternative Currency shall bear interest at the applicable Overnight Foreign Currency Rate plus the Applicable Rate) at the end of the then-current Interest Period applicable thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) No Borrowing of Variable Notes may be continued as a Borrowing of Variable Notes denominated in a different currency, but instead must be prepaid in the original currency of such Borrowing of Variable Notes and, subject to the requirements of this Article II and <u>Section</u> <u>4.02</u>, reborrowed in the other currency. No Borrowing of Term Notes may be continued as a Borrowing of Term Notes denominated in a different currency.

Section 2.09 <u>Termination and Reduction of Commitments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Initial Term Note Commitments shall automatically terminate upon the funding of the Initial Term Notes on the Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Upon delivering the notice required by <u>Section</u> <u>2.09(d)</u>, the Issuer may at any time terminate the Variable Note Commitments upon (i) the payment in full in Cash of all outstanding Variable Notes, together with accrued and unpaid interest thereon and (ii) the payment in full of all accrued and unpaid fees and all reimbursable expenses and other non-contingent Obligations with respect to the Variable Note then due, together with accrued and unpaid interest (if any) thereon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Upon delivering the notice required by <u>Section</u> <u>2.09(d)</u>, the Issuer may from time to time reduce the Variable Note Commitments; <u>provided</u> that (i) each reduction of the Variable Note Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $1,000,000 and (ii) the Issuer shall not reduce the Variable Note Commitments if, after giving effect to any concurrent prepayment of the Variable Notes in accordance with <u>Section</u> <u>2.10</u> or <u>Section</u> <u>2.11</u>, the Aggregate Variable Note Exposure would exceed the Total Variable Note Commitment.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Issuer shall notify the Administrative Agent of any election to terminate or reduce the Variable Note Commitments under <u>paragraph</u> <u>(b)</u> or <u>(c)</u> of this <u>Section</u> <u>2.09</u> in writing at least three Business Days prior to the effective date of such termination or reduction (or such later date to which the Administrative Agent may agree), specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Variable Note Holders of the contents thereof. Each notice delivered by the Issuer pursuant to this <u>Section</u> <u>2.09</u> shall be irrevocable; <u>provided</u> that a notice of termination of the Variable Note Commitments delivered by the Issuer may state that such notice is conditioned upon the effectiveness of other transactions, in which case such notice may be revoked by the Issuer (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Variable Note Commitments pursuant to this <u>Section</u> <u>2.09</u> shall be permanent. Upon any reduction of the Variable Note Commitments, the Variable Note Commitment of each Variable Note Holder shall be reduced by such Variable Note Holder's Applicable Percentage of such reduction amount.

Section 2.10 <u>Repayment of Notes; Evidence of Debt</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Issuer hereby, jointly and severally, unconditionally promise to repay each the Initial Term Notes, to the Administrative Agent for the account of each Term Holder with an Initial Term Note Commitment commencing March 31, 2025, on the last Business Day of each March, June, September and December (each such date being referred to as a "**Note Installment Date**") in accordance with the following schedule:

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| | |
|:---|:---|
| Payment Date | Amortization Payment |
|  March 31, 2025 | $4375000 |
|  June 30, 2025 | $4375000 |
|  September 30, 2025 | $4375000 |
|  December 31, 2025 | $4375000 |
|  March 31, 2026 | $4375000 |
|  June 30, 2026 | $4375000 |
|  September 30, 2026 | $4375000 |
|  December 31, 2026 | $4375000 |
|  March 31, 2027 | $6562500 |
|  June 30, 2027 | $6562500 |
|  September 30, 2027 | $6562500 |
|  December 31, 2027 | $6562500 |
|  March 31, 2028 | $6562500 |
|  June 30, 2028 | $6562500 |
|  September 30, 2028 | $6562500 |
|  December 31, 2028 | $6562500 |
|  March 31, 2029 | $6562500 |
|  June 30, 2029 | $6562500 |
|  September 30, 2029 | $6562500 |
|  December 31, 2029 | $6562500 |
|  March 31, 2030 | $6562500 |
|  June 30, 2030 | $6562500 |
|  September 30, 2030 | $6562500 |
|  On the Maturity Date | Remaining principal amount of all Notes |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Issuer hereby unconditionally promise to pay to the Administrative Agent for the account of each Variable Note Holder the then unpaid principal amount of each Variable Note on the Variable Note Maturity Date. In addition, on the Variable Note Maturity Date, the Issuer shall make payment in full in Cash of all accrued and unpaid fees and all reimbursable expenses and other Obligations with respect to the Variable Note then due, together with accrued and unpaid interest (if any) thereon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Holder shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of each Issuer to such Holder resulting from each Note purchased by such Holder, including the amounts of principal and interest payable and paid to such Holder from time to time hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Note made (or otherwise created) hereunder, the Class, currency and Type thereof and the Interest Period (if any) applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from each Issuer to each Holder hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Holders and each Holder's share thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The entries made in the accounts maintained pursuant to <u>paragraph</u> <u>(c)</u> or <u>(d)</u> of this <u>Section</u> <u>2.10</u> shall be prima facie evidence of the existence and amounts of the obligations recorded therein (absent manifest error); <u>provided</u> that the failure of any Holder or the Administrative Agent to maintain such accounts or any manifest error therein shall not in any manner affect the obligations of the Issuer to repay the Notes in accordance with the terms of this Agreement; <u>provided</u>, <u>further</u>, that in the event of any inconsistency between the accounts maintained by the Administrative Agent pursuant to <u>paragraph (d)</u> of this <u>Section</u> <u>2.10</u> and any Holder's records, the accounts of the Administrative Agent shall govern.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Any Holder may request that Notes made (or otherwise held) by it be evidenced by a Promissory Note. In such event, each applicable Issuer shall prepare, execute and deliver to such Holder a Promissory Note payable to such Holder and its registered assigns; it being understood and agreed that such Holder (and/or its applicable assign) shall be required to return such Promissory Note to the applicable Issuer(s) in accordance with <u>Section</u> <u>9.05(b)(iii)</u> and upon the occurrence of the Termination Date (or as promptly thereafter as practicable).

Section 2.11 <u>Prepayment of Notes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Optional Prepayments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Upon prior notice in accordance with <u>paragraph (a)(iii)</u> of this <u>Section</u> <u>2.11</u>, the Issuer shall have the right at any time and from time to time to prepay any Borrowing of Term Notes in whole or in part without premium or penalty (but subject to <u>Sections</u> <u>2.12(f)</u> and <u>2.16</u>). Each such prepayment shall be paid to the Term Holders under the applicable Class(es) in accordance with their respective Applicable Percentages.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Upon prior notice in accordance with <u>paragraph (a)(iii)</u> of this <u>Section</u> <u>2.11</u>, the Issuer shall have the right at any time and from time to time to prepay any Borrowing of Variable Notes, including any Additional Variable Notes, in whole or in part without premium or penalty (but subject to <u>Section</u> <u>2.16</u>). Prepayments made pursuant to this <u>Section</u> <u>2.11(a)(ii)</u> shall be applied ratably to the outstanding Variable Notes, including any Additional Variable Notes. Each such prepayment shall be paid to the Variable Note Holders under the applicable Class(es) in accordance with their respective Applicable Percentages.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The Issuer shall notify the Administrative in writing of any prepayment under this <u>Section</u> <u>2.11(a)</u> (A) in the case of a prepayment of a SOFR Borrowing denominated in Dollars, not later than 1:00 p.m., Local Time, three Business Days before the date of prepayment, (B) in the case of a prepayment of an ABR Borrowing, not later than 1:00 p.m. one Business Day before the date of prepayment or (C) in the case a Borrowing denominated in an Alternative Currency, four Business Days, before the date of prepayment (or, in the case of <u>clauses (A)</u>, <u>(B)</u> and <u>(C)</u>, such later time as shall be acceptable to the Administrative Agent). Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that a notice of prepayment delivered by the applicable Issuer may state that such notice is conditioned upon the effectiveness of other transactions, in which case such notice may be revoked by the Issuer (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Promptly following receipt of any such notice relating to any Borrowing, the Administrative Agent shall advise the relevant Holders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount at least equal to the amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in <u>Section</u> <u>2.02(c)</u>. Each prepayment of Term Notes made pursuant to this <u>Section</u> <u>2.11(a)</u> shall be applied against the remaining scheduled installments of principal due in respect of the Term Notes of such Class in the manner specified by the Issuer or, if not so specified on or prior to the date of such optional prepayment, in direct order of maturity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Mandatory Prepayments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) No later than the fifth Business Day after the date on which the financial statements with respect to each Fiscal Year of Indivior PLC<u>the Applicable Reporting Company</u> are required to be delivered pursuant to <u>Section</u> <u>5.01(b)</u>, commencing with the Fiscal Year ending December 31, 2025, the Issuer shall, jointly and severally, prepay the outstanding principal amount of Initial Term Notes and Additional Term Notes (unless specified otherwise in the applicable amendment relating to such Additional Term Notes in accordance with <u>Section</u> <u>2.22(a)(ix)</u>, <u>Section</u> <u>2.23(a)(vi)</u> or <u>Section</u> <u>9.02(c)(i)(F</u>)) in accordance with <u>clause</u> <u>(vi)</u> of this <u>Section</u> <u>2.11(b)</u> below in an aggregate principal amount equal to (A) 50% of Excess Cash Flow of <u>Holdings and</u> the Issuer and their Restricted Subsidiaries for the Fiscal Year then ended, *minus* (B) at the option of the Issuer, (x) the aggregate principal amount of any Initial Term Notes, Additional Term Notes, Variable Notes or Additional Variable Notes (in each case, to the extent ranking *pari passu* in right of payment and with respect to security with the Initial Term Notes) prepaid pursuant to <u>Section</u> <u>2.11(a)</u> prior to such date (calculated by reference to the Dollar Equivalent thereof, in the case of any such prepayments made in a currency other than Dollars) and (y) the amount of any reduction in the outstanding amount of any Initial Term Notes or Additional Term Notes retired and cancelled as a result of any assignment made in accordance with <u>Section</u> <u>9.05(g)</u> of this Agreement (including in connection with any Dutch Auction), in the case of this clause (y) prior to such date and in an amount equal to the actual amount of cash paid in connection with the relevant assignment (calculated by reference to the Dollar Equivalent thereof, in the case of any such payments made in a currency other than Dollars), excluding any such optional prepayments made during such Fiscal Year that reduced the amount required to be prepaid pursuant to this <u>Section</u> <u>2.11(b)(i)</u> in the prior Fiscal Year (provided, in the case of any prepayment of Variable Notes and/or Additional Variable Notes, to the extent accompanied by a permanent reduction in the relevant commitment, and in the case of all such prepayments, to the extent that such prepayments were not financed with the proceeds of other Indebtedness (other than revolving Indebtedness) of the Issuer or their Restricted Subsidiaries); <u>provided</u> that (I) such percentage of Excess Cash Flow shall be reduced to 25% of Excess Cash Flow if the Total Leverage Ratio calculated on a Pro Forma Basis as of the last day of the relevant Fiscal Year (but without giving effect to the payment required hereby) is less than or equal to 0.75 to 1.00, but greater than 0.25 to 1.00, (II) such prepayment shall not be required if the Total Leverage Ratio calculated on a Pro Forma Basis as of the last day of the relevant Fiscal Year (but without giving effect to the payment required hereby) is less than or equal to 0.25 to 1.00 and (III) no such prepayment shall be required if the amount that would be required to be prepaid is less than or equal to $15,000,000 and then, only to the extent of any amount in excess of $15,000,000.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) No later than the fifth Business Day following the receipt of Net Proceeds in respect of any Prepayment Asset Sale or Net Insurance/Condemnation Proceeds, in each case, in excess of $5,000,000 in any Fiscal Year, the Issuer shall, jointly and severally, apply an amount equal to 100% of the Net Proceeds or Net Insurance/Condemnation Proceeds received with respect thereto in excess of such thresholds (the "**Subject Proceeds**") to prepay the outstanding principal amount of Initial Term Notes and (unless specified otherwise in the applicable amendment relating to such Additional Term Notes in accordance with <u>Section</u> <u>2.22(a)(ix)</u>, <u>Section</u> <u>2.23(a)(vi)</u> or <u>Section</u> <u>9.02(c)(i)(F</u>)) Additional Term Notes in accordance with <u>clause (vi)</u> below; <u>provided</u> that if, prior to the date any such prepayment is required to be made, the Issuer notifies the Administrative Agent of its intention to reinvest the Subject Proceeds in assets used or useful in the business (other than Cash or Cash Equivalents) of the Issuer or any of its Restricted Subsidiaries, then so long as no Event of Default then exists, the Issuer shall not be required to make a mandatory prepayment under this <u>clause (ii)</u> in respect of the Subject Proceeds to the extent (A) the Subject Proceeds are so reinvested within 12 months following receipt thereof or (B) the Issuer or any of its Restricted Subsidiaries has committed to so reinvest the Subject Proceeds during such 12-month period and the Subject Proceeds are so reinvested within six months after the expiration of such 12-month period; <u>provided</u>, <u>however</u>, that if the Subject Proceeds have not been so reinvested prior to the expiration of the applicable period, the Issuer shall, jointly and severally, promptly prepay the outstanding principal amount of Initial Term Notes and Additional Term Notes with the Subject Proceeds not so reinvested as set forth above (without regard to the immediately preceding proviso); <u>provided</u> <u>further</u> that if, at the time that any such prepayment would be required hereunder, the Issuer or any of its Restricted Subsidiaries is required to offer to repay or repurchase any other Indebtedness permitted hereunder to be secured on a *pari passu* basis with the Secured Obligations pursuant to the terms of the documentation governing such Indebtedness with the Subject Proceeds (such Indebtedness required to be offered to be so repaid or repurchased, the "**Other Applicable Indebtedness**"), then the relevant Person may apply the Subject Proceeds on a *pro rata* basis to the prepayment of the Initial Term Notes and (to the extent required) Additional Term Notes and to the repurchase or repayment of the Other Applicable Indebtedness (determined on the basis of the aggregate outstanding principal amount of the applicable Initial Term Notes, Additional Term Notes and Other Applicable Indebtedness (or accreted amount if such Other Applicable Indebtedness is issued with original issue discount) at such time (using the Dollar Equivalent thereof as of the date of determination, in the case of any such Term Notes or Other Applicable Indebtedness denominated in a currency other than Dollars); <u>provided</u> that the portion of the Subject Proceeds allocated to the Other Applicable Indebtedness shall not exceed the amount of the Subject Proceeds required to be allocated to the Other Applicable Indebtedness pursuant to the terms thereof, and the remaining amount, if any, of the Subject Proceeds shall be allocated to the Initial Term Notes and Additional Term Notes in accordance with the terms hereof), and the amount of the prepayment of the Initial Term Notes and Additional Term Notes that would have otherwise been required pursuant to this <u>Section</u> <u>2.11(b)(ii)</u> shall be reduced accordingly; <u>provided</u> <u>further</u> that to the extent the holders of the Other Applicable Indebtedness decline to have such Indebtedness prepaid or repurchased, the declined amount shall promptly (and in any event within ten Business Days after the date of such declination) be applied to prepay the Initial Term Notes and Additional Term Notes 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;(iii) In the event that the Issuer or any of its Restricted Subsidiaries receives Net Proceeds from the issuance or incurrence of Indebtedness by the Issuer or any of its Restricted Subsidiaries (other than with respect to Indebtedness permitted under <u>Section</u> <u>6.01</u>, except to the extent the relevant Indebtedness constitutes Refinancing Indebtedness incurred to refinance all or a portion of the Initial Term Notes or Additional Term Notes pursuant to <u>Section</u> <u>6.01(p)</u> or Replacement Term Notes incurred to refinance all or a portion of the Initial Term Notes or Additional Term Notes in accordance with the requirements of <u>Section</u> <u>9.02(c)</u>), the Issuer shall, jointly and severally, substantially simultaneously with

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(and in any event not later than the next succeeding Business Day) the receipt of such Net Proceeds by such Issuer or its applicable Restricted Subsidiary, apply an amount equal to 100% of such Net Proceeds to prepay the outstanding principal amount of Initial Term Notes and Additional Term Notes in accordance with <u>clause</u> <u>(vi)</u> below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) In the event that the Issuer or any of its Restricted Subsidiaries receives proceeds from the issuance or incurrence of Curative Equity, the Issuer shall, jointly and severally, substantially simultaneously with (and in any event not later than the next succeeding Business Day) the receipt of such proceeds by such Issuer or its applicable Restricted Subsidiary, apply an amount equal to 100% of such proceeds to prepay the outstanding principal amount of Initial Term Notes and Additional Term Notes in accordance with <u>clause</u> <u>(vi)</u> below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Each Holder may elect, by written notice to the Administrative Agent in the manner specified by the Administrative Agent, before 11:00 a.m. one Business Day prior to any prepayment of Initial Term Notes and Additional Term Notes required to be made by the Issuer pursuant to this <u>Section</u> <u>2.11(b)</u>, to decline all (but not a portion) of its Applicable Percentage of such prepayment (such declined amounts, solely to the extent not applied to any other Indebtedness of the Issuer or their subsidiaries as a mandatory prepayment of such Indebtedness, the "**Declined Proceeds**"); <u>provided</u> that, for the avoidance of doubt, no Holder may reject any prepayment made under <u>Section</u> <u>2.11(b)(iii)</u> above to the extent that such prepayment is made with the Net Proceeds of Refinancing Indebtedness incurred to refinance all or a portion of the Initial Term Notes or Additional Term Notes pursuant to <u>Section</u> <u>6.01(p)</u> or Replacement Term Notes incurred to refinance all or a portion of the Initial Term Notes or Additional Term Notes in accordance with the requirements of <u>Section</u> <u>9.02(c)</u>. If any Holder fails to deliver a notice to the Administrative Agent of its election to decline receipt of its Applicable Percentage of any mandatory prepayment within the time frame specified by the Administrative Agent, such failure will be deemed to constitute an acceptance of such Holder's Applicable Percentage of the total amount of such mandatory prepayment of Initial Term Notes and Additional Term Notes. Any Declined Proceeds shall be retained by the Issuer for application for any purpose not prohibited by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Except as may otherwise be set forth in any amendment to this Agreement in connection with any Additional Term Note in accordance with <u>Section</u> <u>2.22(a)(ix)</u>, <u>Section</u> <u>2.23(a)(vi)</u> or <u>Section</u> <u>9.02(c)(i)(F)</u>, (A) each prepayment of Initial Term Notes and Additional Term Notes pursuant to this <u>Section</u> <u>2.11(b)</u> shall be applied ratably to each Class of Term Notes (based upon the then outstanding principal amounts of the respective Classes of Term Notes (using the Dollar Equivalent thereof as of the date of determination, in the case of any such Term Notes not denominated in Dollars)) (<u>provided</u> that any prepayment of Initial Term Notes or Additional Term Notes constituting Refinancing Indebtedness incurred to refinance all or a portion of the Initial Term Notes or Additional Term Notes pursuant to <u>Section</u> <u>6.01(p)</u> or Replacement Term Notes incurred to refinance all or a portion of the Initial Term Notes or Additional Term Notes in accordance with the requirements of <u>Section</u> <u>9.02(c)</u> shall be applied solely to each applicable Class of refinanced or replaced Term Notes), (B) with respect to each Class of Initial Term Notes and Additional Term Notes, all accepted prepayments under <u>Section</u> <u>2.11(b)(i)</u>, <u>(ii)</u> or <u>(iii)</u> shall be applied against the remaining scheduled installments of principal due in respect of the Initial Term Notes and Additional Term Notes of such Class as directed by the Issuer (or, in the absence of direction from the Issuer, to the remaining scheduled amortization payments in respect of the Initial Term Notes and Additional Term Notes of such Class in inverse order of maturity), and (C) each such prepayment shall be paid to the Term Holders of each applicable Class in accordance with their respective Applicable Percentages. The amount of such mandatory prepayments shall be applied on a *pro rata* basis to the then outstanding Initial Term Notes and Additional Term Notes being prepaid irrespective of whether such outstanding Notes are ABR Notes or SOFR Notes; <u>provided</u> that, within each Class of Term Notes, the amount thereof shall be applied first to ABR Notes to the full extent thereof before application to the SOFR Notes in a manner that minimizes the amount of any payments required to be made by the applicable Issuer(s) pursuant to <u>Section</u> <u>2.16</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;(vii) In the event that the Aggregate Variable Note Exposure exceeds the Total Variable Note Commitment then in effect (other than solely as a result of changes in currency exchange rates), the Issuer shall, within five Business Days of receipt of notice from the Administrative Agent, prepay the Variable Notes in an aggregate amount sufficient to reduce such Aggregate Variable Note Exposure as of the date of such payment to an amount not to exceed the Total Variable Note Commitment then in effect by taking any of the following actions as it shall determine at its sole discretion prepayment of Variable Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) At the time of each prepayment required under <u>Section</u> <u>2.11(b)(i)</u>, <u>(ii)</u> or <u>(iii)</u>, the Issuer shall deliver to the Administrative Agent a certificate signed by a Responsible Officer of the Issuer setting forth in reasonable detail the calculation of the amount of such prepayment. Each such certificate shall specify the Borrowings being prepaid and the principal amount of each Borrowing (or portion thereof) to be prepaid. Prepayments shall be accompanied by accrued interest as required by <u>Section</u> <u>2.13</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) If solely as a result of changes in currency exchange rates, on any Revaluation Date, the Dollar Equivalent of the total Variable Note Exposure of all Variable Note Holders of any Class exceeds the total Variable Note Commitments of such Class, the Issuer shall, at the request of the Administrative Agent (<u>provided</u>, that such a request shall be deemed to have been made if the Dollar Equivalent of the total Variable Note Exposure of all Variable Note Holders under the respective Class is more than 105% of the total Variable Note Commitments of such Class (on any Revaluation Date), within 5 days of such Revaluation Date prepay Variable Notes, in an aggregate amount such that the applicable exposure does not exceed the applicable commitment set forth above).

Section 2.12 <u>Fees</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Issuer agree to pay to the Administrative Agent for the account of each Variable Note Holder (other than any Defaulting Holder) a commitment fee, which shall accrue at a rate equal to one half of one percent (0.50%) per annum on the average daily amount of the Unused Variable Note Commitment of such Variable Note Holder during the period from and including the Closing Date to the date on which such Holder's Variable Note Commitments terminate. Accrued commitment fees shall be payable in arrears on the last Business Day of each March, June, September and December for the quarterly period then ended (commencing on December 31, 2024) and on the date on which the Variable Note Commitments terminate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) [Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) [Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Issuer jointly and severally agree to pay to the Administrative Agent, for its own account, the fees in the amounts and at the times separately agreed upon by the Issuer and the Administrative Agent in writing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent for distribution, in the case of commitment fees and participation fees, to the Variable Note Holders. Fees paid shall not be refundable under any circumstances. Fees payable hereunder shall accrue to but excluding the last day of the month immediately preceding the applicable fee payment 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;(f) If all or any portion of the Initial Term Notes is (i) voluntarily prepaid in whole or in part, (ii) refinanced in whole or in part or (iii) voluntarily repriced or refinanced, or (iv) mandatorily prepaid pursuant to <u>Sections 2.11(b)(ii)</u> (solely with respect to Prepayment Asset Sales) or <u>(b)(iii)</u>, then the aggregate principal amount so refinanced, voluntarily prepaid, or repriced will be subject to a fee (the "**Prepayment Premium**") payable by Issuer equal to (x) prior to the first anniversary of the Closing Date, 2.0% of the principal amount so refinanced, prepaid or repriced, (y) on or after the first anniversary of the Closing Date and prior to the second anniversary of the Closing Date, 1.0% of the principal amount so refinanced, prepaid or repriced, and (z) thereafter no prepayment premium shall apply. Without limiting the generality of the foregoing, it is understood and agreed that if the Obligations are accelerated prior to the twenty-four (24) month anniversary of the Closing Date for any reason, including because of any Event of Default, the Prepayment Premium, determined as of the date of acceleration, will also be due and payable as though the Obligations were voluntarily prepaid as of such date and shall constitute part of the Obligations, in view of the impracticability and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of each Holder's lost profits as a result thereof. The Prepayment Premium payable in accordance with this Section 2.12(f) shall be presumed to be the liquidated damages sustained by each Holder as the result of the early termination, and the Issuer agree that it is reasonable under the circumstances. The Prepayment Premium shall also be payable in the event the Obligations (and/or this Agreement as evidencing the Obligations) are satisfied or released by foreclosure (whether by power of judicial proceeding), deed in lieu of foreclosure, or by any other means. THE ISSUER EXPRESSLY WAIVES THE PROVISIONS OF ANY PRESENT OR FUTURE STATUTE OR LAW THAT PROHIBITS OR MAY PROHIBIT THE COLLECTION OF THE FOREGOING PREPAYMENT PREMIUM IN CONNECTION WITH ANY SUCH ACCELERATION. The Issuer expressly agree that: (A) the Prepayment Premium is reasonable and is the product of an arm's length transaction between sophisticated business people, ably represented by counsel, (B) the Prepayment Premium shall be payable notwithstanding the then prevailing market rates at the time payment is made, (C) there has been a course of conduct between the Holders and the Issuer giving specific consideration in this transaction for such agreement to pay the Prepayment Premium, and (D) the Issuer shall be estopped hereafter from claiming differently than as agreed to in this Section 2.12(f). Notwithstanding anything to the contrary set forth herein, no Prepayment Premium shall be required in connection with any voluntary prepayment of Initial Term Notes in an amount of up to $100,000,000 in the aggregate during the term of this Agreement if such prepayment is applied from cash generated from operations of Holdings and its Restricted Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day). Each determination by the Administrative Agent of a fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

Section 2.13 <u>Interest</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Term Notes and Variable Notes comprising each ABR Borrowing shall bear interest at the Alternate Base Rate *plus* the Applicable Rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Term Notes and Variable Notes comprising each SOFR Borrowing shall bear interest at Adjusted Term SOFR for the Interest Period in effect for such Borrowing *plus* the Applicable Rate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) [*Reserved*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) *Default Interest*.

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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;(i) Notwithstanding the foregoing and subject to <u>Section</u> <u>2.21</u>, if any principal of or interest on any Initial Term Note, Variable Note or Additional Note or any fee payable by the Issuer hereunder is not, in each case, paid or reimbursed when due, whether at stated maturity, upon acceleration or otherwise, the relevant overdue amount shall bear interest, to the fullest extent permitted by law, after as well as before judgment, at a rate per annum equal to (A) in the case of overdue principal or interest of any Initial Term Note, Variable Note or Additional Note, 2.00% *plus* the rate otherwise applicable to such Initial Term Note, Variable Note or Additional Note as provided in the preceding paragraphs of this <u>Section</u> <u>2.13</u> or in the amendment to this Agreement relating thereto or (B) in the case of any other amount, 2.00% *plus* the rate applicable to Initial Term Notes denominated in Dollars that are ABR Notes as provided in <u>paragraph (a)</u> of this <u>Section</u> <u>2.13</u>; <u>provided</u> that no amount shall accrue pursuant to this <u>Section</u> <u>2.13(d)</u> on any overdue amount, reimbursement obligation in respect of any other amount payable to a Defaulting Holder so long as such Holder is a Defaulting 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;(ii) Notwithstanding the foregoing and subject to <u>Section</u> <u>2.21</u>, if any Material Event of Default has occurred and is continuing, the Obligations shall bear interest, to the fullest extent permitted by law, after as well as before judgment, at a rate per annum equal to (A) in the case of overdue principal or interest of any Initial Term Note, Variable Note or Additional Note, 2.00% *plus* the rate otherwise applicable to such Initial Term Note, Variable Note or Additional Note as provided in the preceding paragraphs of this <u>Section</u> <u>2.13</u> or in the amendment to this Agreement relating thereto or (B) in the case of any other amount, 2.00% *plus* the rate applicable to Initial Term Notes denominated in Dollars that are ABR Notes as provided in <u>paragraph (a)</u> of this <u>Section</u> <u>2.13</u>; <u>provided</u> that no amount shall accrue pursuant to this <u>Section</u> <u>2.13(d)</u> on any Obligations payable to a Defaulting Holder so long as such Holder is a Defaulting Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Accrued interest on each Initial Term Note, Variable Note or Additional Note shall be payable in arrears on each Interest Payment Date for such Initial Term Note, Variable Note or Additional Note and on the Maturity Date or upon the termination of the Variable Note Commitments or any Additional Note Commitments, as applicable; <u>provided</u> that (i) interest accrued pursuant to <u>paragraph (d)</u> of this <u>Section</u> <u>2.13</u> shall be payable on demand, (ii) in the event of any repayment or prepayment of any Initial Term Note, Variable Note or Additional Note (other than a prepayment of an ABR Variable Note prior to the termination of the relevant Variable Note Commitments), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any SOFR Note prior to the end of the current Interest Period therefor, accrued interest on such Initial Term Note, Variable Note or Additional Note shall be payable on the effective date of such conversion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) All interest hereunder shall be computed on the basis of a year of 360 days, except that (i) interest computed for ABR Notes based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year) and (ii) Borrowings denominated in Sterling, interest shall be computed on the basis of a year of 365 days, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate or Adjusted Term SOFR shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error. Interest shall accrue on each Note for the day on which the Note is made, and shall not accrue on a Note, or any portion thereof, for the day on which the Note or such portion is paid; <u>provided</u> that any Note that is repaid on the same day on which it is made shall bear interest for one day.

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Section 2.14 <u>Alternate Rate of Interest</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If at least two Business Days prior to the commencement of any Interest Period for a SOFR 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;(ii) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining Adjusted Term SOFR for such Interest 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;(iii) the Administrative Agent is advised by the Required Holders that the Adjusted Term SOFR for such Interest Period will not adequately and fairly reflect the cost to such Holders of making or maintaining their Notes included in such Borrowing for such Interest Period;

then the Administrative Agent shall promptly give notice thereof to the Issuer and the Holders by telephone or facsimile or other electronic transmission as promptly as practicable thereafter and, until the Administrative Agent notifies the Issuer and the Holders that the circumstances giving rise to such notice no longer exist, which the Administrative Agent agrees promptly to do, (i) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a SOFR Borrowing shall be ineffective and such Borrowing shall be converted to an ABR Borrowing on the last day of the Interest Period applicable thereto, (ii) any Interest Election Request that requests the continuation of any Borrowing in any affected Alternative Currency shall be ineffective and such Borrowing denominated in an Alternative Currency shall be prepaid on the last day of the Interest Period applicable thereto, and (iii) if any Borrowing Request requests a SOFR Borrowing, such Borrowing shall be made as an ABR Borrowing (and if any Borrowing Request requests a Borrowing of Variable Notes denominated in an Alternative Currency, such Borrowing Request shall be ineffective).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding anything to the contrary herein or in any other Notes 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;(i) Upon the occurrence of a Benchmark Transition Event, the Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder and under any Notes Document in respect of any Benchmark setting at or after 5:00 p.m. on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Holders without requiring any amendment to, or requiring any further action by or consent of any other party to, this Agreement or any other Notes Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Holders comprising the Required Holders. At any time that the administrator of the then-current Benchmark has permanently or indefinitely ceased to provide such Benchmark or such Benchmark has been announced by the regulatory supervisor for the administrator of such Benchmark pursuant to public statement or publication of information to be no longer representative of the underlying market and economic reality that such Benchmark is intended to measure and that representativeness will not be restored, the Issuer may revoke any request for a borrowing of, conversion to or continuation of Notes to be made, converted or continued that would bear interest by reference to such Benchmark until the Issuer's receipt of notice from the Administrative Agent that a Benchmark Replacement has replaced such Benchmark, and, failing that, the Issuer will be deemed to have converted any such request into a request for a borrowing of or conversion to ABR Notes. During the period referenced in the foregoing sentence, the component of Alternate Base Rate based upon the Benchmark will not be used in any determination of the Alternate 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;(ii) In connection with the implementation and administration of a Benchmark Replacement, the Administrative Agent will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Notes 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.

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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;(iii) The Administrative Agent will promptly notify the Issuer and the Holders of (i) the implementation of any Benchmark Replacement and (ii) the effectiveness of any Benchmark Replacement Conforming Changes. Any determination, decision or election that may be made by the Administrative Agent or, if applicable, any Holder (or group of Holders) pursuant to this <u>Section</u> <u>2.14(b)</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, 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 hereto, except, in each case, as expressly required pursuant to this <u>Section</u> <u>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;(iv) At any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including Term SOFR), then the Administrative Agent may remove any tenor of such Benchmark that is unavailable or non-representative for Benchmark (including Benchmark Replacement) settings and (ii) the Administrative Agent may reinstate any such previously removed tenor for Benchmark (including Benchmark Replacement) settings.

&nbsp;&nbsp;&nbsp;&nbsp;&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) As used in this <u>Section</u> <u>2.14(b)</u>:

"**Available Tenor**" means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (x) if the then-current Benchmark is a term rate, any tenor for such Benchmark that is or may be used for determining the length of an Interest Period or (y) otherwise, any payment period for interest calculated with reference to such Benchmark, as applicable, pursuant to this Agreement as of such date.

"**Benchmark**" means, initially as of the Closing Date, Term SOFR; <u>provided</u> that if a replacement of the Benchmark has occurred after the Closing Date pursuant to this <u>Section</u> <u>2.14(b)</u>, then "Benchmark" means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate. Any reference to "Benchmark" shall include, as applicable, the published component used in the calculation thereof.

"**Benchmark Replacement**" means, for any Available Tenor, the sum of (x) the alternate benchmark rate and (y) an adjustment (which may be a positive or negative value or zero), in each case, that has been selected by the Administrative Agent and the Issuer as the replacement for such Available Tenor of such Benchmark giving due consideration to any evolving or then-prevailing market convention, including any applicable recommendations made by the Relevant Governmental Body, for U.S. dollar-denominated syndicated credit facilities at such time; <u>provided</u> that, if the Benchmark Replacement 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 Notes Documents.

"**Benchmark Replacement Conforming Changes**" means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of "Alternate Base Rate," the definition of "Business Day," the definition 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 other technical, administrative or operational matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the 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 such Benchmark Replacement 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 Notes Documents).

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"**Benchmark Transition Event**" means, with respect to any then-current Benchmark, the occurrence of a public statement or publication of information by or on behalf of the administrator of the then-current Benchmark, the regulatory supervisor for the administrator of such Benchmark, the Board, the Federal Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for such Benchmark, a resolution authority with jurisdiction over the administrator for such Benchmark or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark, announcing or stating that (a) such administrator has ceased or will cease on a specified date to provide all Available Tenors of such Benchmark, 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 (b) all Available Tenors of such Benchmark are or will no longer be representative of the underlying market and economic reality that such Benchmark is intended to measure and that representativeness will not be restored.

"**Relevant Governmental Body**" means the Board or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Board or the Federal Reserve Bank of New York, or any successor thereto.

Section 2.15 <u>Increased Costs</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If any Change in 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;(i) imposes, modifies or deems applicable any reserve, special deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by, any 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;(ii) subjects any Holder to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses (b) through (e) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its notes, note principal, 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;(iii) imposes on any Holder any other condition (other than Taxes) affecting this Agreement or SOFR Notes purchased by any Holder or participation therein,

and the result of any of the foregoing is to increase the cost to the relevant Holder of making or maintaining any SOFR Note or of maintaining its obligation to make any such Note (including, without limitation, pursuant to any conversion of any Borrowing denominated in Dollars or any Alternative Currency into a Borrowing denominated in Dollars or any other Alternative Currency) or to increase the cost to such Holder or to reduce the amount of any sum received or receivable by such Holder hereunder, whether of principal, interest or otherwise (including, without limitation, pursuant to any conversion of any Borrowing denominated in Dollars or any Alternative Currency into a Borrowing denominated in Dollars or any other Alternative Currency) in respect of any SOFR Note in an amount deemed by such Holder to be material (such amount being an "**Increased Cost**"), then, within 30 days after the Issuer's receipt of the certificate contemplated by <u>paragraph (c)</u> of this <u>Section</u> <u>2.15</u>, the applicable Issuer(s) will, subject to <u>Section</u> <u>2.15(e)</u>, pay to such Holder such additional amount or amounts as will compensate such Holder for such additional costs incurred or reduction suffered; <u>provided</u> that such Issuer(s) shall not be liable for such compensation if (x) the relevant Change in Law occurs on a date prior to the date such Holder becomes a party hereto, (y) such Holder invokes <u>Section</u> <u>2.20</u> or (z) in the case of requests for reimbursement under <u>clause (ii)</u> above resulting from a market disruption, the relevant circumstances are not generally affecting the banking market.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If any Holder determines that any Change in Law regarding liquidity or capital requirements has or would have the effect of reducing the rate of return on such Holder's capital or on the capital of such Holder's holding company, if any, as a consequence of this Agreement or the Notes purchased by such Holder to a level below that which such Holder or such Holder's holding company could have achieved but for such Change in Law other than due to Taxes, which shall be dealt with exclusively pursuant to <u>Section</u> <u>2.17</u> (taking into consideration such Holder's policies and the policies of such Holder's holding company with respect to liquidity and capital adequacy), then within 30 days of receipt by the Issuer of the certificate contemplated by <u>paragraph (c)</u> of this <u>Section</u> <u>2.15</u> the applicable Issuer(s) will pay to such Holder such additional amount or amounts as will compensate such Holder or such Holder'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;(c) A certificate of a Holder setting forth the amount or amounts necessary to compensate such Holder or its holding company, as applicable, as specified in <u>paragraph (a)</u> or <u>(b)</u> of this <u>Section</u> <u>2.15</u> and setting forth in reasonable detail the manner in which such amount or amounts were determined and certifying that such Holder is generally charging such amounts to similarly situated issuer shall be delivered to the Issuer and 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;(d) Failure or delay on the part of any Holder to demand compensation pursuant to this <u>Section</u> <u>2.15</u> shall not constitute a waiver of such Holder's right to demand such compensation; <u>provided</u> that the applicable Issuer(s) shall not be required to compensate a Holder pursuant to this <u>Section</u> <u>2.15</u> for any increased costs or reductions incurred more than 180 days prior to the date that such Holder notifies the Issuer of the Change in Law giving rise to such increased costs or reductions and of such Holder's intention to claim compensation therefor; <u>provided</u> <u>further</u> 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;(e) <u>Section 2.15(a)</u> does not apply to the extent that any Increased Cost is (a) attributable to a U.K. Tax Deduction required by law to be made by a U.K. Issuer; or (b) solely in the case of any Note made to a U.K. Issuer, compensated for by <u>Section</u> <u>2.17(c)</u> (or would have been compensated for under <u>Section</u> <u>2.17(c)</u> but was not so compensated solely because any of the exclusions in <u>Section</u> <u>2.17(c)</u> applied).

Section 2.16 <u>Break Funding Payments</u>. In the event of (a) the conversion or prepayment of any principal of any SOFR Note other than on the last day of an Interest Period applicable thereto (whether voluntary, mandatory, automatic, by reason of acceleration or otherwise), (b) the failure to borrow, convert, continue or prepay any SOFR Note on the date or in the amount specified in any notice delivered pursuant hereto or (c) the assignment of any SOFR Note of any Holder other than on the last day of the Interest Period applicable thereto as a result of a request by the Issuer pursuant to <u>Section</u> <u>2.19</u>, then, in any such event, the applicable Issuer(s) shall compensate each Holder for the loss, cost and expense incurred by such Holder that is attributable to such event (other than loss of profit. In the case of a SOFR Note, the loss, cost or expense of any Holder shall be the amount reasonably determined by such Holder to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Note had such event not occurred, at the SOFR that would have been applicable to such Note, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Note), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Holder would bid were it to bid, at the commencement of such period, for deposits in the applicable

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currency of a comparable amount and period from other banks; it being understood that such loss, cost or expense shall in any case exclude any interest rate floor and all administrative, processing or similar fees. A certificate of any Holder setting forth any amount or amounts that such Holder is entitled to receive pursuant to this <u>Section</u> <u>2.16</u>, the basis therefor and, in reasonable detail, the manner in which such amount or amounts were determined shall be delivered to the Issuer and shall be conclusive absent manifest error. The applicable Issuer(s) shall pay such Holder the amount shown as due on any such certificate within 30 days after receipt thereof.

Section 2.17 <u>Taxes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Any and all payments by or on account of any obligation of any Note Party under any Notes Document shall be made free and clear of and without deduction for any Taxes, except as required by applicable Requirements of Law. If any applicable Requirement of Law (as determined in the good faith discretion of the applicable withholding agent) requires the deduction or withholding of any Tax from any such payment, then (X) in the case of any deduction or withholding on account of Tax (i) if the Tax is an Indemnified Tax the amount payable by the applicable Note Party shall be increased as necessary so that after all required deductions and withholdings have been made (including deductions and withholdings applicable to additional sums payable under this <u>Section</u> <u>2.17</u>), each Holder, or, in the case of any payment made to the Administrative Agent for its own account, the Administrative Agent, receives an amount equal to the sum it would have received had no such deductions or withholdings been made, (ii) the applicable withholding agent shall be entitled to make such deduction or withholding and (iii) the applicable withholding agent shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with applicable Requirements of Law and (Y) in the case of any deduction or withholding on account of U.K. Tax, the amount of the payment due from the relevant Note Party shall be increased to an amount which (after making any U.K. Tax Deduction) leaves an amount equal to the payment which would have been due if no U.K. Tax Deduction had been required. If at any time any applicable withholding agent is required by applicable Requirements of Law to make any deduction or withholding from any amount payable under any Notes Document, the Issuer shall promptly notify the relevant Holder and the Administrative Agent upon any Responsible Officer becoming aware of the same.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In addition, the Note Parties shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable Requirements of 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;(c) Each Note Party shall jointly and severally indemnify the Administrative Agent, and each Holder within 10 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 <u>Section</u> <u>2.17</u>) payable or paid by the Administrative Agent or such Holder, as applicable, or required to be withheld or deducted from any payment by or any payment on account of any obligation of any Note Party hereunder to such recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified 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 the Issuer by a Holder (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Holder, 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;(d) Each Holder shall severally indemnify the Administrative Agent, within 10 days after demand therefor, for (i) any Indemnified Taxes or Other Taxes imposed on or with respect to any payment under any Notes Document that is attributable to such Holder (but only to the extent that no Note Party has already indemnified the Administrative Agent for such Indemnified Taxes or Other Taxes and without limiting the obligation of the Note Parties to do so), (ii) any Taxes attributable to such Holder's failure to comply with the provisions of <u>Section</u> <u>9.05(c)(ii)</u> relating to the maintenance of a Participant

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Register and (iii) any Excluded Taxes attributable to such Holder, in each case, that are payable or paid by the Administrative Agent in connection with any Notes 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 Holder by the Administrative Agent shall be conclusive absent manifest error. Each Holder hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Holder under any Notes Document or otherwise payable by the Administrative Agent to any Holder under any Notes Document or otherwise payable by the Administrative Agent to any Holder from any other source against any amount due to the Administrative Agent under this <u>clause (d)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by any Note Party to a Governmental Authority, such Note Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment that is 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;(f) [*Reserved*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Without prejudice to the obligations of a Note Party to make increased payments pursuant to Section 2.17(a), where a relevant Note Party is required to make a deduction or withholding on account of Tax that is a U.K. Tax Deduction, that relevant Note Party shall make that U.K. Tax Deduction and any payment required in connection with that U.K. Tax Deduction within the time allowed and in the minimum amount required by applicable Requirements of Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Within thirty (30) days of making either a U.K. Tax Deduction or any payment required in connection with that U.K. Tax Deduction, the relevant Note Party making that U.K. Tax Deduction shall deliver to the Administrative Agent for the Holder entitled to the payment a statement under section 975 of the ITA or other evidence reasonably satisfactory to that Holder that the U.K. Tax Deduction has been made or (as applicable) any appropriate payment paid to the relevant Governmental Authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) [*Reserved*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) [*Reserved*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Status of Holders</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;(i) Any Holder that is entitled to an exemption from or reduction of any withholding Tax with respect to any payments made under any Notes Document shall deliver to the applicable Issuer and the Administrative Agent, at the time or times reasonably requested by such Issuer or the Administrative Agent, such properly completed and executed documentation as such Issuer or the Administrative Agent may reasonably request to permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Holder, if reasonably requested by any applicable Issuer or the Administrative Agent, shall deliver such other documentation prescribed by applicable Requirements of Law or reasonably requested by such Issuer or the Administrative Agent as will enable such Issuer or the Administrative Agent to determine whether or not such Holder 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 paragraphs (A), (B) and (D) of Section 2.17(k)(ii)) shall not be required if in the Holder's reasonable judgment such completion, execution or submission would subject such Holder to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Holder.

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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;(ii) Without limiting the generality of the foregoing, if the applicable Issuer is a "United States person" within the meaning of 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(A)</u> each Holder that is not a Foreign Holder shall deliver to the applicable Issuer and the Administrative Agent on or prior to the date on which such Holder becomes a Holder under this Agreement (and from time to time thereafter upon the reasonable request of such Issuer or the Administrative Agent), two executed original copies of IRS Form W-9 certifying that such Holder 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;(B) each Foreign Holder shall deliver to the applicable Issuer and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Holder becomes a Holder under this Agreement (and from time to time thereafter upon the reasonable request of such Issuer 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) in the case of any Foreign Holder 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 Notes Document, executed original copies of IRS Form W-8BEN or IRS Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the "interest" article of such tax treaty and (y) with respect to any other applicable payments under any Notes Document, IRS Form W-8BEN or IRS Form W-8BEN-E establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the "business profits" or "other income" article of such tax treaty;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) executed original copies of IRS Form W-8ECI;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) in the case of any Foreign Holder claiming the benefits of the exemption for portfolio interest under Section 871(h) or 881(c) of the Code, (x) a certificate substantially in the form of <u>Exhibit L-1</u> to the effect that such Foreign Holder is not a "bank" within the meaning of Section 881(c)(3)(A) of the Code, a "10 percent shareholder" of any applicable Issuer within the meaning of Section 871(h)(3)(B) of the Code, or a "controlled foreign corporation" related to any applicable Issuer as described in Section 881(c)(3)(C) of the Code (a "**U.S. Tax Compliance Certificate**") and (y) executed original copies of IRS Form W-8BEN or IRS Form W-8BEN-E; 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;(4) to the extent any Foreign Holder is not the beneficial owner, executed original copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, IRS Form W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of <u>Exhibit L-2</u> or <u>Exhibit L-3</u>, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; <u>provided</u> that if such Foreign Holder is a partnership and one or more direct or indirect partners of such Foreign Holder are claiming the portfolio interest exemption, such Foreign Holder may provide a U.S. Tax Compliance Certificate substantially in the form of <u>Exhibit L-4</u> on behalf of each such direct or 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;(C) each Foreign Holder shall, to the extent it is legally entitled to do so, deliver to the applicable Issuer and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Holder becomes a Holder under this Agreement (and from time to time thereafter upon the reasonable request of such Issuer or the Administrative Agent), executed original copies of any other form prescribed by applicable Requirements of Law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable Requirements of Law to permit such Issuer or the Administrative 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;(D) if a payment made to any Holder under any Notes Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Holder 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 Holder shall deliver to the applicable Issuer and the Administrative Agent at the time or times prescribed by applicable Requirements of Law and at such time or times reasonably requested by such Issuer or the Administrative Agent such documentation as is prescribed by applicable Requirements of Law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Issuer or the Administrative Agent as may be necessary for such Issuer and the Administrative Agent to comply with their obligations under FATCA, to determine whether such Holder has complied with such Holder's obligations under FATCA, or to determine the amount, if any, to deduct and withhold from such payment. Solely for purposes of this clause (D), "FATCA" shall include any amendments made to FATCA after the date of this Agreement.

Each Holder 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 applicable Issuer and the Administrative Agent in writing of its legal inability to do so. Notwithstanding anything to the contrary in this <u>Section</u> <u>2.17(k)</u>, no Holder shall be required to provide any documentation that such Holder is not legally eligible to deliver.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) If the Administrative Agent or any Holder determines, in its sole discretion, exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 2.17 (including by the payment of additional amounts pursuant to this Section 2.17), it shall pay over an amount equal to such refund to such Note Party (but only to the extent of indemnity payments made, or additional amounts paid, by such Note Party under this Section 2.17 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent or such Holder (including any Taxes imposed with respect to such refund), and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided that such Note Party, upon the request of such Holder or the Administrative Agent, agrees to repay the amount paid over to such Holder or the Administrative Agent (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event such Holder or the Administrative Agent is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (l), in no event shall the Administrative Agent or any Holder be required to pay any amount to a Note Party pursuant to this paragraph (l) to the extent that the payment thereof would place the Administrative Agent or such Holder in a less favorable net after-Tax position than the position that the Administrative Agent or such Holder would have been in if the Tax subject to indemnification had not been deducted, withheld or

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otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This Section 2.17 shall not be construed to require the Administrative Agent or any Holder to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the relevant Note 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;(m) <u>Survival</u>. Each party's obligations under this <u>Section</u> <u>2.17</u> shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, any Holder, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Notes Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) [*Reserved*]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <u>Tax Credit</u>. If a Note Party makes an increased payment pursuant to Section 2.17(a) in respect of a U.K. Tax Deduction and the relevant Holder determines 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;(i) a Tax Credit is attributable to that increased payment or to the relevant U.K. Tax Deduction in consequence of which that increased payment was required; 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;(ii) that Holder has obtained and utilized that Tax Credit,

the Holder shall pay an amount to the relevant Note Party which that Holder determines will leave that Holder (after that payment) in the same after-Tax position as it would have been in had the increased payment under Section 2.17(a) not been required to be made by the relevant Note Party, provided that the amount required to be paid by the Holder pursuant hereto shall not exceed the amount of the Tax Credit obtained and utilized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <u>VAT</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;(i) All amounts expressed to be payable under a Notes Document by any party to the Administrative Agent, a Holder which (in whole or in part) constitute the consideration for any supply for VAT purposes are deemed to be exclusive of any VAT which is chargeable on that supply and, accordingly, subject to <u>Section</u> <u>2.17(p)(ii)</u> below, if VAT is or becomes chargeable on any supply made by the Administrative Agent, the relevant a Holder to any party under a Notes Document and the Administrative Agent, the relevant Holder is required to account to the relevant tax authority for the VAT, that party must pay to the Administrative Agent or the relevant Holder (as applicable and in addition to and at the same time as paying any other consideration for such supply) an amount equal to the amount of the VAT (and the Administrative Agent or the relevant Holder must promptly provide an appropriate VAT invoice to that 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;(ii) If VAT is or becomes chargeable on any supply made by the Administrative Agent or a Holder (the **"Supplier"**) to any of the Administrative Agent or a Holder (the **"Recipient"**) under a Notes Document, and any party (the **"Relevant Party"**) is required by the terms of any Notes Document to pay an amount equal to the consideration for that supply to the Supplier (rather than being required to reimburse or indemnify the Recipient in respect of that consideration):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) (where the Supplier is the person required to account to the relevant tax authority for the VAT) the Relevant Party must also pay to the Supplier (at the same time as paying that amount) an additional amount equal to the amount of the VAT. The Recipient must (where this <u>Section</u> <u>2.17(p)(ii)(A)</u> applies) promptly pay to the Relevant Party an amount equal to any credit or repayment the Recipient receives from the relevant tax authority which the Recipient reasonably determines relates to the VAT chargeable on that supply; 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;(B) (where the Recipient is the person required to account to the relevant tax authority for the VAT) the Relevant Party must promptly, following demand from the Recipient, pay to the Recipient an amount equal to the VAT chargeable on that supply but only to the extent that the Recipient reasonably determines that it is not entitled to credit or repayment from the relevant tax authority in respect of that VAT.

&nbsp;&nbsp;&nbsp;&nbsp;&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) Where a Notes Document requires a party to reimburse or indemnify the Administrative Agent or a Holder for any cost or expense, that party shall reimburse or indemnify (as the case may be) the Administrative Agent, the relevant Holder for the full amount of such cost or expense, including such part thereof as represents VAT, save to the extent that the Administrative Agent or the relevant Holder reasonably determines that it is entitled to credit or repayment in respect of such VAT from the relevant tax authority.

&nbsp;&nbsp;&nbsp;&nbsp;&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) Any reference in this <u>Section</u> <u>2.17(p)</u> to any party shall, at any time when such party is treated as a member of a group for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to the person who is treated as making the supply or (as appropriate) receiving the supply under the grouping rules (as provided for in Article 11 of the Council Directive 2006/112/EC (or as implemented by the relevant member state of the European Union or any other similar provision in any jurisdiction which is not a member state of the European Union) so that a reference to a party shall be construed as a reference to that party or the relevant group or unity (or fiscal unity) of which that party is a member for VAT purposes at the relevant time or the relevant representative member (or head) of that group or unity (or fiscal unity) at the relevant time (as the case may be).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) In relation to any supply made by the Administrative Agent or a Holder to any party under a Notes Document, if reasonably requested by the Administrative Agent or the relevant Holder (as applicable), that party must promptly provide the Administrative Agent or the relevant Holder with details of that party's VAT registration and such other information as is reasonably requested in connection with the Administrative Agent's or the relevant Holder's VAT reporting requirements in relation to such supply.

Section 2.18 <u>Payments Generally; Allocation of Proceeds; Sharing of Payments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Unless otherwise specified, each Issuer shall make each payment required to be made by it hereunder (whether of principal, interest (except for principal of and interest on Variable Notes denominated in an Alternative Currency), fees or reimbursement of amounts payable under <u>Section</u> <u>2.15</u>, <u>2.16</u> or <u>2.17</u>, or otherwise) prior to the time expressed hereunder or under such Notes Document (or, if no time is expressly required, by 2:00 p.m., Local Time) and, in the case of any payment of principal of or interest on Variable Notes denominated in an Alternative Currency, prior to the Applicable Time, in each case, on the date when due, in immediately available funds, without set-off (except as otherwise provided in <u>Section</u> <u>2.17</u>) or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made (i) in the same currency in which the applicable Note Issuance (with such term including, solely for purposes of this sentence, the making of any Term Note) was made and (ii) to the Administrative Agent to the applicable account designated to the Issuer by the Administrative Agent. The Administrative Agent shall distribute any such payments denominated in the same currency received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. Each Holder agrees that in computing such Holder's portion

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of any Borrowing to be made hereunder, the Administrative Agent may, in its discretion, round such Holder's percentage of such Borrowing to the next higher or lower whole dollar amount. All payments (including accrued interest) hereunder shall be made in Dollars (or, in the case of Variable Notes denominated in an Alternative Currency, in the applicable Alternative Currency unless (and then to the extent) a payment in Dollars is required under this Agreement). Any payment required to be made by the Administrative Agent hereunder shall be deemed to have been made by the time required if the Administrative Agent shall, at or before such time, have taken the necessary steps to make such payment in accordance with the regulations or operating procedures of the clearing or settlement system used by the Administrative Agent to make such payment. Notwithstanding the foregoing provisions of this <u>Section</u> <u>2.18(a)</u>, if, after the making of any Note Issuance (with such term including, solely for purposes of this sentence, the making of any Term Note) in any Alternative Currency, currency control or exchange regulations are imposed in the country which issues such currency with the result that the type of currency in which the Note Issuance was made (the "**Original Currency**") no longer exists or the respective Issuer is not able to make payment to the Administrative Agent for the account of the applicable Holders in such Original Currency, then all payments to be made by the respective Issuer hereunder in such currency shall instead be made when due in Dollars or in another Alternative Currency reasonably agreed between the Issuer and the Administrative Agent in an amount equal to the Dollar Equivalent or Alternative Currency Equivalent (as of the date of repayment), as applicable, of such payment due, it being the intention of the parties hereto that the respective Issuer takes all risks of the imposition of any such currency control or exchange regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to any Permitted Pari Passu Intercreditor Agreement, proceeds of Collateral received by the Administrative Agent at any time when an Event of Default exists and all or any portion of the Notes have been accelerated hereunder pursuant to <u>Section</u> <u>7.01</u> shall, upon election by the Administrative Agent or at the direction of the Required Holders, be applied <u>first</u>, to the payment of all costs and expenses then due incurred by the Administrative Agent or any Receiver in connection with any collection, sale or realization on Collateral or otherwise in connection with this Agreement, any other Notes Document or any of the Secured Obligations, including all court costs and the fees and expenses of agents and legal counsel, the repayment of all advances made by the Administrative Agent hereunder or under any other Notes Document on behalf of any Note Party and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Notes Document, <u>second</u>, to payment in full of Unfunded Advances/Participations (the amounts so applied to be distributed between or among, as applicable, the Administrative Agent *pro rata* in accordance with the amounts of Unfunded Advances/Participations owed to them on the date of any such distribution), <u>third</u>, on a *pro rata* basis, to pay any fees, indemnities or expense reimbursements then due to the Administrative Agent (other than those covered in clause first above) from the Issuer constituting Secured Obligations, <u>fourth</u>, on a *pro rata* basis in accordance with the amounts of the Secured Obligations (other than contingent indemnification obligations for which no claim has yet been made) owed to the Secured Parties on the date of any such distribution (with such calculation to be made using the Dollar Equivalent (as of the date of determination) of any such Secured Obligations denominated in a currency other than Dollars), to the payment in full of the Secured Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If any Holder obtains payment (whether voluntary, involuntary, through the exercise of any right of set-off or otherwise) in respect of any principal of or interest on any of its Notes of any Class held by it resulting in such Holder receiving payment of a greater proportion of the aggregate amount of its Notes of such Class and accrued interest thereon than the proportion received by any other Holder with Notes of such Class, then the Holder receiving such greater proportion shall purchase (for Cash at face value) participations in the Notes of such Class of other Holders of such Class at such time outstanding to the extent necessary so that the benefit of all such payments shall be shared by the Holders of such Class ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Notes of such Class; <u>provided</u> that (i) if any such participations are purchased and all or any

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portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not apply to (x) any payment made by the Issuer pursuant to and in accordance with the express terms of this Agreement or (y) any payment obtained by any Holder as consideration for the assignment of or sale of a participation in any of its Notes or Commitments to any permitted assignee or participant, including any payment made or deemed made in connection with <u>Sections</u> <u>2.22</u>, <u>2.23</u> and <u>9.02(c)</u>. Each Issuer consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Holder acquiring a participation pursuant to the foregoing arrangements may exercise against such Issuer rights of set-off and counterclaim with respect to such participation as fully as if such Holder were a direct creditor of such Issuer 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</u> <u>2.18(c)</u> and will, in each case, notify the Holders following any such purchases or repayments. Each Holder that purchases a participation pursuant to this <u>Section</u> <u>2.18(c)</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 Holder were the original owner of the Obligations purchased.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Unless the Administrative Agent has received notice from the Issuer prior to the date on which any payment is due to the Administrative Agent for the account of any Holder hereunder that the applicable Issuer will not make such payment, the Administrative Agent may assume that such Issuer has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the applicable Holder the amount due. In such event, if the applicable Issuer has not in fact made such payment, then each Holder severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Holder with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation (including, without limitation, the Overnight Foreign Currency Rate in the case of Variable Notes denominated in an Alternative Currency).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) If any Holder fails to make any payment required to be made by it pursuant to <u>Section</u> <u>2.07(b)</u> or <u>Section</u> <u>2.18(d)</u>, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Holder to satisfy such Holder's obligations under such Sections until all such unsatisfied obligations are fully paid.

Section 2.19 <u>Mitigation Obligations; Replacement of Holders</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If any Holder requests compensation under <u>Section</u> <u>2.15</u> or such Holder determines it can no longer make or maintain SOFR Notes pursuant to <u>Section</u> <u>2.20</u>, or the Issuer is required to pay any Indemnified Taxes or additional amounts to any Holder or any Governmental Authority for the account of any Holder pursuant to <u>Section</u> <u>2.17</u>, then such Holder shall use reasonable efforts to designate a different lending office for funding or booking its Notes hereunder affected by such event, or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the reasonable judgment of such Holder, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to <u>Section</u> <u>2.15</u> or <u>2.17</u>, as applicable, in the future or mitigate the impact of <u>Section</u> <u>2.20</u>, as the case may be, and (ii) would not subject such Holder to any material unreimbursed out-of-pocket cost or expense and would not otherwise be disadvantageous to such Holder in any material respect. The Issuer hereby agree to pay all reasonable costs and expenses incurred by any Holder in connection with any such designation or 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;(b) If (i) any Holder requests compensation under <u>Section</u> <u>2.15</u> or such Holder determines it can no longer make or maintain SOFR Notes pursuant to <u>Section</u> <u>2.20</u>, (ii) the Issuer is required to pay any Indemnified Taxes or additional amounts to any Holder or any Governmental Authority for the account of any Holder pursuant to <u>Section</u> <u>2.17</u>, (iii) any Holder is a Defaulting Holder or (iv) in connection with any proposed amendment, waiver or consent requiring the consent of "each Holder", "each Variable Note Holder" or "each Holder directly affected thereby" (or any other Class or group of Holders other than the Required Holders) with respect to which Required Holder or Required Variable Note Holder consent (or the consent of Holders holding notes or commitments of such Class or lesser group representing more than 50% of the sum of the total notes and unused commitments of such Class or lesser group at such time) has been obtained, as applicable, any Holder does not consent to such amendment, waiver or consent (each such Holder described in this <u>clause (iv)</u>, a "**Non-Consenting Holder**"), then the applicable Issuer may, at their sole expense and effort, upon notice from the Issuer to such Holder and the Administrative Agent, (x) terminate the applicable Commitments and/or Additional Note Commitments of such Holder, and repay all Obligations of such Issuer owing to such Holder relating to the applicable Notes and participations held by such Holder as of such termination date (<u>provided</u> that if, after giving effect such termination and repayment, the aggregate amount of the Variable Note Exposure exceeds the aggregate amount of the Variable Note Commitments then in effect, then the Issuer shall, not later than the next Business Day, prepay one or more Variable Note Borrowings in an amount necessary to eliminate such excess) or (y) replace such Holder by requiring such Holder to assign and delegate (and such Holder shall be obligated to assign and delegate), without recourse (in accordance with and subject to the restrictions contained in <u>Section</u> <u>9.05</u>), all of its interests, rights and obligations under this Agreement to an Eligible Assignee that shall assume such obligations (which Eligible Assignee may be another Holder, if any Holder accepts such assignment); <u>provided</u> that (A) such Holder shall have received payment of an amount equal to the outstanding principal amount of its Notes, in each case of such Class of Notes, Commitments and/or Additional Note Commitments, accrued interest thereon, accrued fees and all other amounts payable to it under any Notes Document with respect to such Class of Notes, Commitments and/or Additional Note Commitments, (B) in the case of any assignment resulting from a claim for compensation under <u>Section</u> <u>2.15</u> or payments required to be made pursuant to <u>Section</u> <u>2.17</u>, such assignment will result in a reduction in such compensation or payments and (C) such assignment does not conflict with applicable law. No Holder (other than a Defaulting Holder) shall be required to make any such assignment and delegation, and the applicable Issuer may not repay the Obligations of such Holder or terminate its Commitments or Additional Note Commitments, if, prior thereto, as a result of a waiver by such Holder or otherwise, the circumstances entitling such Issuer to require such assignment and delegation cease to apply. Each Holder agrees that if it is replaced pursuant to this <u>Section</u> <u>2.19(b)</u>, it shall execute and deliver to the Administrative Agent an Assignment and Assumption to evidence such sale and purchase and shall deliver to the Administrative Agent any Promissory Note (if the assigning Holder's Notes are evidenced by one or more Promissory Notes) subject to such Assignment and Assumption (<u>provided</u> that the failure of any Holder replaced pursuant to this <u>Section</u> <u>2.19(b)</u> to execute an Assignment and Assumption or deliver any such Promissory Note shall not render such sale and purchase (and the corresponding assignment) invalid), such assignment shall be recorded in the Register, any such Promissory Note shall be deemed cancelled. Each Holder hereby irrevocably appoints the Administrative Agent (such appointment being coupled with an interest) as such Holder's attorney-in-fact, with full authority in the place and stead of such Holder and in the name of such Holder, from time to time in the Administrative Agent's discretion, with prior written notice to such Holder, to take any action and to execute any such Assignment and Assumption or other instrument that the Administrative Agent may deem reasonably necessary to carry out the provisions of this <u>clause (b)</u>.

Section 2.20 <u>Illegality</u>. If any Holder reasonably determines that any Change in Law has made it unlawful, or that any Governmental Authority has asserted after the Closing Date that it is unlawful, for such Holder or its applicable lending office to make, maintain or fund Notes whose interest is determined by reference to SOFR, Adjusted Term SOFR or Term SOFR, or to determine or charge interest rates based

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upon SOFR, Adjusted Term SOFR or Term SOFR, then, on notice thereof by such Holder to the Issuer through the Administrative Agent, (i) any obligation of such Holder to make or continue SOFR Notes in Dollars or to convert ABR Notes to SOFR Notes shall be suspended and (ii) if such notice asserts the illegality of such Holder making or maintaining ABR Notes the interest rate on which is determined by reference to the Adjusted Term SOFR component of the Alternate Base Rate, the interest rate on which ABR Notes of such Holder, shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Adjusted Term SOFR component of the Alternate Base Rate, in each case until such Holder notifies the Administrative Agent and the Issuer that the circumstances giving rise to such determination no longer exist (which notice such Holder agrees to give promptly). Upon receipt of such notice, (x) the applicable Issuer shall, upon demand from such Holder to the Issuer (with a copy to the Administrative Agent), in the case of any such SOFR Notes, prepay or convert all of such Holder's SOFR Notes to ABR Notes (the interest rate on which ABR Notes of such Holder shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Adjusted Term SOFR component of the Alternate Base Rate), either on the last day of the Interest Period therefor, if such Holder may lawfully continue to maintain such SOFR Notes to such day, or immediately, if such Holder may not lawfully continue to maintain such SOFR Notes (in which case the applicable Issuer shall not be required to make payments pursuant to <u>Section</u> <u>2.16</u> in connection with such payment) and (y) if such notice asserts the illegality of such Holder determining or charging interest rates based upon SOFR, Adjusted Term SOFR or Term SOFR, the Administrative Agent shall during the period of such suspension compute the Alternate Base Rate applicable to such Holder without reference to the SOFR, Adjusted Term SOFR or Term SOFR, as applicable, component thereof until the Administrative Agent is advised in writing by such Holder that it is no longer illegal for such Holder to determine or charge interest rates based upon SOFR, Adjusted Term SOFR or Term SOFR, as applicable. Upon any such prepayment or conversion, the applicable Issuer shall also pay accrued interest on the amount so prepaid or converted. Each Holder agrees to designate a different lending office if such designation will avoid the need for such notice and will not, in the determination of such Holder, otherwise be materially disadvantageous to such Holder.

Section 2.21 <u>Defaulting Holders</u>. Notwithstanding any provision of this Agreement to the contrary, if any Holder becomes a Defaulting Holder, then the following provisions shall apply for so long as such Holder is a Defaulting Holder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Fees shall cease to accrue on the unfunded portion of any Commitment of such Defaulting Holder pursuant to <u>Section</u> <u>2.12(a)</u> and pursuant to any other provisions of this Agreement or other Notes Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Commitments and the Variable Note Exposure of such Defaulting Holder shall not be included in determining whether all Holders, each affected Holder, the Required Holders, the Required Variable Note Holders or such other number of Holders as may be required hereby or under any other Notes Document have taken or may take any action hereunder (including any consent to any waiver, amendment or modification pursuant to <u>Section</u> <u>9.02</u>); <u>provided</u> that any waiver, amendment or modification requiring the consent of all Holders or each affected Holder which affects such Defaulting Holder disproportionately and adversely relative to other affected Holders shall require the consent of such Defaulting Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of any Defaulting Holder (whether voluntary or mandatory, at maturity, pursuant to <u>Section</u> <u>2.10</u>, <u>Section</u> <u>2.11</u>, <u>Section</u> <u>2.15</u>, <u>Section</u> <u>2.16</u>, <u>Section</u> <u>2.17</u>, <u>Section</u> <u>2.18</u>, <u>Article</u> <u>7</u>, <u>Section</u> <u>9.05</u> or otherwise, and including any amounts made available to the Administrative Agent by such Defaulting Holder pursuant to <u>Section</u> <u>9.09</u>), shall be applied at such time or times as may be determined by the Administrative Agent and, where relevant, the Issuer as follows: <u>first</u>, to the payment of any amounts owing by such Defaulting Holder to the Administrative Agent hereunder; <u>second</u>, so long as

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no Default or Event of Default exists as the Issuer may request, to the funding of any Note in respect of which such Defaulting Holder has failed to fund its portion thereof as required by this Agreement; <u>third</u>, as the Administrative Agent or the Issuer may elect, to be held in a deposit account and released in order to satisfy obligations of such Defaulting Holder to fund Notes under this Agreement; <u>fourth</u>, to the payment of any amounts owing to the non-Defaulting Holders as a result of any judgment of a court of competent jurisdiction obtained by any non-Defaulting Holder against such Defaulting Holder as a result of such Defaulting Holder's breach of its obligations under this Agreement; <u>seventh</u>, to the payment of any amounts owing to the Issuer as a result of any judgment of a court of competent jurisdiction obtained by such Issuer against such Defaulting Holder as a result of such Defaulting Holder's breach of its obligations under this Agreement; and <u>fifth</u>, to such Defaulting Holder or as otherwise directed by a court of competent jurisdiction; <u>provided</u> that if (x) such payment is a payment of the principal amount of any Note in respect of which such Defaulting Holder has not fully funded its appropriate share and (y) such Note was made or created, as applicable, at a time when the conditions set forth in <u>Section</u> <u>4.02</u> were satisfied or waived, such payment shall be applied solely to pay the Notes of all non-Defaulting Holders on a *pro rata* basis prior to being applied to the payment of any Notes of such Defaulting Holder. Any payments, prepayments or other amounts paid or payable to any Defaulting Holder that are applied (or held) to pay amounts owed by any Defaulting Holder or to post Cash collateral pursuant to this <u>Section</u> <u>2.21(c)</u> shall be deemed paid to and redirected by such Defaulting Holder, and each Holder irrevocably consents hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) [Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) [Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) In the event that the Administrative Agent and the Issuer agree that any Defaulting Holder has adequately remedied all matters that caused such Holder to be a Defaulting Holder, then the Applicable Percentage of Aggregate Variable Note Exposure of the Variable Note Holders shall be readjusted to reflect the inclusion of such Holder's Variable Note Commitment, and on such date such Variable Note Holder shall purchase at par such of the Variable Notes of the other Variable Note Holders or participations in Variable Notes as the Administrative Agent shall determine as are necessary in order for such Variable Note Holder to hold such Variable Notes or participations in accordance with its Applicable Percentage. Notwithstanding the fact that any Defaulting Holder has adequately remedied all matters that caused such Holder to be a Defaulting Holder, (x) no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Issuer while such Holder was a Defaulting Holder and (y) except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Holder to Holder will constitute a waiver or release of any claim of any party hereunder arising from such Holder's having been a Defaulting Holder.

Section 2.22 <u>Incremental</u> <u>Note Issuance</u><u>s</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Issuer may, at any time, on one or more occasions deliver a written request to the Administrative Agent (whereupon the Administrative Agent shall promptly deliver a copy of such request to each of the Holders) (an "**Incremental Note Request**") to (i) add one or more new tranches of term facilities and/or increase the principal amount of any Class of Initial Term Notes or any Additional Term Notes by requesting new Term Note commitments to be added to such Notes (any such new tranche or increase, an "**Incremental Term Note Facility**" and any notes made pursuant to an Incremental Term Note Facility, "**Incremental Term Notes**") and/or (ii) add one or more new tranches of variable note commitments and/or increase the Total Variable Note Commitment or any Additional Variable Note Commitment (any such new tranche or increase, an "**Incremental Variable Note Facility**" (and, together with any Incremental Term Note Facility, "**Incremental Note Facilities**"); and the notes thereunder, "**Incremental Variable Notes**" and, together with any Incremental Term Notes, "**Incremental Notes**") in an aggregate principal amount not to exceed the Incremental Cap (such effective date of such Incremental Notes, the "**Incremental Effective Date**"); <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;(i) no Incremental Commitment may be less than $10,000,000,

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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;(ii) except as separately agreed from time to time between the Issuer and any Holder, no Holder shall be obligated to provide any Incremental Commitment, and the determination to provide such commitments shall be within the sole and absolute discretion of such 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;(iii) no Incremental Note Facility or Incremental Note (or the creation, provision or implementation thereof) shall require the approval of any existing Holder other than in its capacity, if any, as a Holder providing all or part of any Incremental Note Facility or Incremental 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;(iv) (A) except as otherwise provided herein, the terms of each Incremental Variable Note (other than any terms which are applicable only after the then-existing maturity date with respect to the Variable Note or any Additional Variable Note, as applicable, and other than as permitted under <u>clause (v)</u> below), will be no more favorable to the applicable Holders thereof than those applicable to the Variable Note or otherwise reasonably acceptable to the Administrative Agent (other than in the case of any Incremental Variable Note that is implemented by increasing the amount of then-existing Total Variable Note Commitments (rather than by implementing a new tranche of Variable Note Commitments), which shall have identical terms to such then-existing Total Variable Note Commitments) and (B) no Incremental Variable Note will mature earlier than the then-applicable Latest Variable Note Maturity Date or require any scheduled amortization or mandatory commitment reduction prior to such 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;(v) the interest rate applicable to any Incremental Note Facility or Incremental Notes will be determined by the Issuer and the Holders providing such Incremental Note Facility or Incremental Notes; <u>provided</u> that (A) in the case of any Incremental Term Note Facility or Incremental Term Notes which rank *pari passu* with the Initial Term Notes (or any then-existing Incremental Term Notes which rank *pari passu* with the Initial Term Notes) in right of payment and with respect to security, such interest rate will not be more than 0.50% higher than the corresponding interest rate applicable to such Initial Term Notes (or any then-existing Incremental Term Notes which rank *pari passu* with the Initial Term Notes) unless the interest rate margin with respect to such Term Notes is adjusted to be equal to the interest rate with respect to the relevant Incremental Term Note Facility or Incremental Term Notes, *minus* 0.50%; <u>provided</u> <u>further</u> that in determining the applicable interest rate under this <u>clause</u> <u>(v)(A)</u>: (w) original issue discount or upfront fees paid by the Issuer (or any new Issuer in accordance with clause (xvi) below) in connection with any Class of Initial Term Notes or any Incremental Term Note Facility (based on a four-year average life to maturity), shall be included (it being acknowledged and agreed that the original issue discount or upfront fees paid in connection with any Class of Initial Term Notes shall not, for purposes of the clause (v), be affected by any subsequent Incremental Term Note Facility that is implemented by increasing the amount of such Class of Term Notes (rather than by implementing a new tranche of Initial Term Notes)), (x) any amendments to the Applicable Rate in respect of any Class of Initial Term Notes that became effective subsequent to the Closing Date but prior to the time of the addition of the relevant Incremental Term Note Facility or Incremental Term Notes shall be included, (y) arrangement, commitment, structuring and underwriting fees and any amendment fees (regardless of whether such fees are paid to or shared in whole or in part with any Holder) paid or payable to the Administrative Agent (or their Affiliates) in their respective capacities as such in connection with any Initial Term Notes or any Incremental Term Note Facility

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or to one or more arrangers (or their affiliates) in their capacities as such applicable to the relevant Incremental Term Note Facility or Incremental Term Notes and any other fees not paid to all relevant Holders generally shall be excluded and (z) if the relevant Incremental Term Note Facility or Incremental Term Notes include any Adjusted Term SOFR floor (or any equivalent floor) that is greater than the Floor, and such floor is greater than Adjusted Term SOFR applicable to such Initial Term Notes having an Interest Period of three months on the date of determination, the excess amount shall be equated to interest margin for determining the applicable interest rate, and (B) in the case of any Incremental Variable Note or Incremental Variable Notes which rank *pari passu* with any then existing Variable Note in right of payment and with respect to security, such interest rate will not be more than 0.50% higher than the corresponding interest rate applicable to the such existing Variable Note unless the interest rate margin with respect to such existing Variable Note is adjusted to be equal to the interest rate with respect to the relevant Incremental Variable Note or Incremental Variable Notes, *minus* 0.50%; <u>provided</u> <u>further</u> that in determining the applicable interest rate under this <u>clause</u> <u>(v) (B)</u>: (w) original issue discount or upfront fees paid by the Issuer in connection with an existing Variable Note (based on a four-year average life to maturity), shall be included, (x) any amendments to the Applicable Rate in respect of the then existing Variable Note that became effective subsequent to the establishment of such Variable Note but prior to the time of the addition of the relevant Incremental Variable Note or Incremental Variable Notes shall be included, (y) arrangement, commitment, structuring and underwriting fees and any amendment fees (regardless of whether such fees are paid to or shared in whole or in part with any Holder) paid or payable to the Administrative Agent (or their Affiliates) in their respective capacities as such in connection with such existing Variable Note or to one or more arrangers (or their affiliates) in their capacities as such applicable to the relevant Incremental Variable Note or Incremental Variable Notes and any other fees not paid to all relevant Holders generally shall be excluded and (z) if the relevant Incremental Variable Note or Incremental Variable Notes include any Adjusted Term SOFR floor (or any equivalent floor) that is greater than that applicable to any then existing Variable Note, and such floor is greater than Adjusted Term SOFR applicable to such existing Variable Note having an Interest Period of three months on the date of determination, the excess amount shall be equated to interest margin for determining the applicable interest 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;(vi) the final maturity date with respect to any Incremental Note Facility shall be no earlier than the Latest Term Note Maturity Date at the time of the incurrence 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;(vii) the Weighted Average Life to Maturity of any Incremental Term Note Facility shall be no shorter than the remaining Weighted Average Life to Maturity of the then-existing tranche(s) of Term Notes (without giving effect to any prepayments 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;(viii) (A) any Incremental Term Note Facility shall rank *pari passu* with any then-existing tranche of Term Notes in right of payment and may rank *pari passu* with or junior to any then-existing tranche of Term Notes with respect to security or may be unsecured (and to the extent the relevant Incremental Note Facility ranks *pari passu* with or is subordinated to the Term Notes in right of security or is unsecured and documented in a separate agreement to this Agreement) (it being acknowledged and agreed that any such Incremental Term Note Facility that is subordinated to the Term Notes in right of security shall be documented in a separate agreement to this Agreement, it shall be subject to a Permitted Pari Passu Intercreditor Agreement (in the case of an Incremental Note Facility that ranks *pari passu* with any then-existing tranche of Term Notes with respect to security) or a Permitted Junior Intercreditor Agreement (in the case of an Incremental Note Facility that ranks junior to any then-existing tranche of Term Notes with respect to security) and (B) no Incremental Note Facility may be (x) guaranteed by any Person which is not a Note Party (but need not be guaranteed by all such Persons) or (y) secured by any assets other than the Collateral (but need not be secured by all such 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;&nbsp;&nbsp;&nbsp;&nbsp;(ix) (A) any prepayment (other than any scheduled amortization payment) of Incremental Term Notes that are *pari passu* with any then-existing Term Notes in right of payment and security shall be made on a *pro rata* basis with such existing Term Notes and (B) any prepayment (other than any scheduled amortization payment) of Incremental Term Notes that are subordinated to any then-existing Term Notes in right of payment or security shall be made on a junior basis with respect to such existing Term Notes (and all other then-existing Additional Term Notes requiring ratable prepayment), except, in the case of preceding clause (A); that the Issuer and the Holders providing the relevant Incremental Term Notes shall be permitted, in their sole discretion, to elect to prepay or receive, as applicable, any prepayments on a less than *pro rata* basis (but not on a greater than *pro rata* 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;(x) except as otherwise agreed by the Holders providing the relevant Incremental Note Facility in connection with any Limited Condition Acquisition (which shall be subject to <u>Section</u> <u>2.22(i)</u>), no Event of Default shall exist immediately prior to or after giving effect to such incremental note facility,

&nbsp;&nbsp;&nbsp;&nbsp;&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) except as otherwise agreed by the Holders providing the relevant Incremental Note Facility in connection with any Limited Condition Acquisition (which shall be subject to <u>Section</u> <u>2.22(i)</u>), all representations and warranties set forth in <u>Article 3</u> and in each other Notes Document shall be true and correct in all material respects (or, if qualified by materiality, in all respects) on and as of the applicable closing date in respect of such Incremental Note Facility 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 day, in which case they shall be true and correct in all material respects (or, if qualified by materiality, in all 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;&nbsp;&nbsp;&nbsp;&nbsp;(xii) except as otherwise required or permitted in <u>clauses</u> <u>(v)</u> through <u>(ix)</u> above (and other than in the case of any Incremental Term Note Facility that is implemented by increasing the amount of then-existing Term Notes of any Class (rather than by implementing a new Class of Term Notes), which shall have substantially identical terms to such then-existing Class of Term Notes), all other terms of any Incremental Term Note Facility , if more favorable to the Holders thereof than the terms of the Initial Term Notes, shall be reasonably satisfactory to the Issuer and the Administrative Agent (it being understood that any terms which are not consistent with the terms of the Initial Term Notes and are applicable only after the then-existing Latest Term Note Maturity Date are deemed to be reasonably acceptable 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;(xiii) the proceeds of any Incremental Note Facility may be used for working capital and other general corporate purposes and any other use not prohibited by 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;(xiv) on the date of the making of any Incremental Term Notes that will be added to any Class of Initial Term Notes or Additional Term Notes, and notwithstanding anything to the contrary set forth in <u>Section</u> <u>2.08</u> or <u>2.13</u>, such Incremental Term Notes shall be added to (and constitute a part of) each borrowing of outstanding Initial Term Notes or Additional Term Notes, as applicable, of the same Type with the same Interest Period of the respective Class on a *pro rata* basis (based on the relative sizes of the various outstanding Borrowings), so that each Term Holder providing such Incremental Term Notes will participate proportionately in each then outstanding borrowing of Initial Term Notes or Additional Term Notes, as applicable, of the same type with the same Interest Period of the respective Class;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv) at no time shall there be more than three separate Maturity Dates in effect with respect to the Variable Note and any existing Additional Variable Note at any time;

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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;(xvi) (A) the Issuer or (subject to this inclusion of "collateral allocation mechanism" provisions reasonably satisfactory to the Administrative Agent) one or more Wholly-Owned Subsidiaries of the Issuer reasonably acceptable to the Administrative Agent shall be the issuer(s) under any Incremental Term Note Facility and, (B) the Issuer or (subject to this inclusion of "collateral allocation mechanism" provisions reasonably satisfactory to the Administrative Agent) one or more Wholly-Owned Subsidiaries of the Issuer reasonably acceptable to the Administrative Agent shall be the issuer(s) under any Incremental Variable Note; 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;(xvii) the currency of any Incremental Note Facility shall be Dollars or, if agreed by all of the Holders or Additional Purchasers providing such Incremental Note Facility , an Alternative Currency.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Incremental Commitments may be provided by any existing Holder, or by any other Holder (other than any Disqualified Institution) (any such other Holder being called an "**Additional Purchaser**"); <u>provided</u> that the Administrative Agent (and, in the case of any Incremental Variable Note) shall have consented (such consent not to be unreasonably withheld) to the relevant Additional Purchaser's provision of Incremental Commitments if such consent would be required under <u>Section</u> <u>9.05(b)</u> for an assignment of Notes to such Additional Purchaser; <u>provided</u> <u>further</u> that any Additional Purchaser that is an Affiliated Holder shall be subject to the provisions of <u>Section</u> <u>9.05(g)</u>, *mutatis mutandis*, to the same extent as if Incremental Commitments and related Obligations had been obtained by such Holder by way of assignment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Holder or Additional Purchaser providing a portion of any Incremental Commitment shall execute and deliver to the Administrative Agent and the Issuer all such documentation (including an amendment to this Agreement or any other Notes Document) as may be reasonably required by the Administrative Agent to evidence and effectuate such Incremental Commitment and/or the Incremental Notes thereunder. On the effective date of such Incremental Commitment, each such Additional Purchaser shall become a Holder for all purposes in connection with this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) As a condition precedent to the effectiveness of any Incremental Note Facility or the making of any Incremental Notes, (i) upon its reasonable request, the Administrative Agent shall have received customary written opinions of counsel, as well as such reaffirmation agreements, supplements and/or amendments as it shall reasonably require, (ii) the Administrative Agent shall have received, from each Additional Purchaser, an Administrative Questionnaire and such other documents as it shall reasonably require from such Additional Purchaser, and the Administrative Agent and Holders shall have received all fees required to be paid in respect of such Incremental Note Facility or Incremental Notes and (iii) the Administrative Agent shall have received a certificate of the applicable Issuer signed by a Responsible Officer 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;(i) certifying and attaching a copy of the resolutions adopted by the governing body of the applicable Issuer approving or consenting to such Incremental Note Facility and/or Incremental Notes, 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;(ii) to the extent applicable, certifying that the conditions set forth in <u>clause</u> <u>(a)(x)</u> and <u>clause (a)(xi)</u> above have been satisfied.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Upon the implementation of any Incremental Variable Note pursuant to this <u>Section</u> <u>2.22</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;(i) if such Incremental Variable Note is implemented by increasing the amount of then-existing Total Variable Note Commitments (rather than by implementing a new tranche of Variable Note Commitments), the existing Variable Note Holders of the applicable Class shall assign Variable Notes to certain other Variable Note Holders of such Class (including the Variable Note Holders providing the relevant Incremental Variable Note), and such other Variable Note Holders (including the Variable Note Holders providing the relevant Incremental Variable Note) shall purchase such Variable Notes, in each case to the extent necessary so that all of the Variable Note Holders of such Class participate in each outstanding Borrowing of Variable Notes *pro rata* on the basis of their respective Variable Note Commitments of such Class (after giving effect to any increase in the Variable Note Commitment pursuant to this <u>Section</u> <u>2.22</u>); it being understood and agreed that the minimum borrowing, *pro rata* borrowing and *pro rata* payment and sharing requirements contained elsewhere in this Agreement shall not apply to the transactions effected pursuant to this <u>clause</u> <u>(i)</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;(ii) if such Incremental Variable Note is implemented pursuant to a request to add one or more new tranches of variable note commitments, (1) the borrowing and repayment (except for (A) payments of interest and fees at different rates on the existing Variable Notes and such Incremental Variable Note, (B) repayments required upon the Maturity Date of the then-existing Variable Note and such Incremental Variable Note and (C) repayments made in connection with any permanent repayment and termination of commitments (subject to <u>clause (3)</u> below)) of Incremental Variable Notes after the effective date of such Incremental Variable Note Commitments shall be made on a *pro rata* basis with the then-existing Variable Note and any other then outstanding Incremental Variable Note, (2) [reserved] and (3) the permanent repayment of Variable Notes with respect to, and termination of commitments under, such Incremental Variable Note shall be made on a *pro rata* basis with the then-existing Variable Note and any other then outstanding Incremental Variable Note, except that the Issuer shall be permitted to permanently repay and terminate commitments under such Incremental Variable Note on a greater than *pro rata* basis as compared with any other variable note with a later Maturity Date than such variable note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) [Reserved].

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) To the extent that any Incremental Term Notes are added to any then outstanding Class of Initial Term Notes or Additional Term Notes, as applicable, it is acknowledged that (i) the scheduled amortization payments set forth in <u>Section</u> <u>2.10</u> shall be adjusted to give effect to the increase in the relevant Class and (ii) the operation of <u>clause (a)(xiv)</u> above may result in such new Incremental Term Notes having short Interest Periods (i.e., an Interest Period that began during an Interest Period then applicable to outstanding SOFR Notes of the respective Class and which will end on the last day of such Interest Period).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Limited Condition Acquisitions</u>. Notwithstanding the foregoing provisions of this <u>Section</u> <u>2.22</u> or in any other provision of any Notes 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;(i) if the proceeds of any Incremental Note Facility are intended to be applied to finance a Limited Condition Acquisition, the conditions precedent to the Issuer's right to request such Incremental Note Facility for a Limited Condition Acquisition shall (so long as the requirements of <u>Section</u> <u>2.22(a)</u> (other than <u>clauses (x)</u> and <u>(xi)</u> thereof) are met with respect to such Incremental Note Facility) be limited to the following: (a) on the date of the signing of the definitive acquisition agreement for such Limited Condition Acquisition (x) no Event of Default shall have occurred and be continuing (y) each of the representations and warranties contained in the Notes Documents shall be true and correct in all material respects (except (I) with respect to representations and warranties expressly made as of an earlier date, in which case such representations and warranties were true and correct in all material respects as of such earlier date and (II) that if any such representation or warranty contains any materiality qualifier, such representation or warranty shall be true and correct in all respects); and (b) at the date of closing of such Limited Condition Acquisition and the funding of the applicable Incremental Note Facility, (A) no Event of Default under <u>Section</u> <u>7.01(a)</u>, <u>(f)</u> or <u>(g)</u> shall have occurred and be continuing, (B) the only representations and warranties the accuracy of which shall be a condition to funding such advance shall be the Specified Representations and the Specified Acquisition Agreement Representations, 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;(ii) in the case of the incurrence of any indebtedness or liens or the making of any investments, restricted payments, prepayments of subordinated or junior debt, asset sales or fundamental changes or the designation of any restricted subsidiaries or unrestricted subsidiaries in connection with a Limited Condition Acquisition, at the Issuer's option, the relevant ratios and baskets (other than those set forth in clause (a), (b), (c) and (d) of the definition of "Incremented Cap") shall be determined, and any default or event of default blocker shall be tested, as of the date the definitive acquisition agreements for such Limited Condition Acquisition are entered into and, subject to the second proviso contained in this clause (ii), calculated as if the acquisition and other pro forma events in connection therewith were consummated on such date; *provided* that if the Issuer has made such an election, in connection with the calculation of any ratio or basket with respect to the incurrence of any debt or liens, or the making of any investments, restricted payments, prepayments of subordinated, junior or unsecured debt, asset sales, fundamental changes or the designation of a restricted subsidiary or unrestricted subsidiary on or following such date and prior to the earlier of the date on which such acquisition is consummated or the definitive agreement for such acquisition is terminated, any such ratio shall, subject to the proviso below, be calculated on a pro forma basis assuming such acquisition and other pro forma events in connection therewith (including any incurrence of indebtedness) have been consummated; *provided* that the consolidated net income (and any other financial defined term derived therefrom) shall not include any consolidated net income of or attributable to the target company or assets associated with any such Limited Condition Acquisition unless and until the closing of such Limited Condition Acquisition shall have actually occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) This <u>Section</u> <u>2.22</u> shall supersede any provision in <u>Section</u> <u>2.18</u> or <u>9.02</u> to the contrary.

Section 2.23 <u>Issuances of Notes and Variable Note Commitments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding anything to the contrary in this Agreement, pursuant to one or more offers (each, an "**Extension Offer**") made from time to time by the Issuer to all Holders holding Notes of any Class with a like Maturity Date or commitments with a like Maturity Date, in each case on a *pro rata* basis (based on the aggregate outstanding principal amount of the respective Notes or commitments with a like Maturity Date) and on the same terms to each such Holder, the Issuer is hereby permitted from time to time to consummate transactions with any individual Holder who accepts the terms contained in

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any such Extension Offer to extend the Maturity Date of such Holder's Notes and/or commitments and otherwise modify the terms of such Notes and/or commitments pursuant to the terms of the relevant Extension Offer (including by increasing the interest rate or fees payable in respect of such Notes and/or commitments (and related outstandings) and/or modifying the amortization schedule in respect of such Notes) (each, an "**Extension**", and each group of Notes or commitments, as applicable, in each case as so extended, as well as the original Notes and the original commitments (in each case not so extended), being a "**tranche**"; any Extended Term Notes shall constitute a separate tranche (and Class) of Notes from the tranche of Notes from which they were converted and any Extended Variable Note Commitments shall constitute a separate tranche (and Class) of variable note commitments from the tranche of variable note commitments from which they were converted), so long as the following terms 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;&nbsp;&nbsp;&nbsp;&nbsp;(i) no Default under <u>Section</u> <u>7.01(a)</u>, <u>(f)</u> or <u>(g)</u> or Event of Default shall exist at the time the notice in respect of an Extension Offer is delivered to the applicable Holders, and no Default under <u>Section</u> <u>7.01(a)</u>, <u>(f)</u> or <u>(g)</u> or Event of Default shall exist immediately prior to or after giving effect to the effectiveness of any 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;&nbsp;&nbsp;&nbsp;&nbsp;<u>(ii)</u> except as to (x) interest rates, fees and final maturity (which shall, subject to <u>clause</u> <u>(iv)(y)</u> below, be determined by the Issuer and any Holder who agrees to an Extension and set forth in the relevant Extension Offer) and (y) any covenants or other provisions applicable only to periods after the Latest Variable Note Maturity Date (in each case, as of the date of such Extension), the commitment of any Variable Note Holder that agrees to an Extension (an "**Extended Variable Note Commitment**"; and the Notes thereunder, "**Extended Variable Notes**"), and the related outstandings, shall be a Variable Note Commitment (or related outstandings, as the case may be) with the same terms (or terms not less favorable to existing Variable Note Holders) as the original Variable Note Commitments (and related outstandings) provided hereunder; <u>provided</u> that (I) to the extent any non-extended portion of the Variable Note and/or any Additional Variable Note then exists, (1) the borrowing and repayment (except for (A) payments of interest and fees at different rates on such revolving facilities (and related outstandings), (B) repayments required upon the Maturity Date of such revolving facilities and (C) repayments made in connection with any permanent repayment and termination of commitments (subject to <u>clause</u> <u>(3)</u> below)) of Extended Variable Notes after the effective date of such Extended Variable Note Commitments shall be made on a *pro rata* basis with such portion of the Variable Note and/or the relevant Additional Variable Note, as applicable and (2) the permanent repayment of Extended Variable Notes with respect to, and termination of commitments under, any such Extended Variable Note Commitment after the effective date of such Extended Variable Note Commitments shall be made on a *pro rata* basis with such portion(s) of the Variable Note and/or any Additional Variable Note, except that the Issuer shall be permitted to permanently repay and terminate commitments of any such Variable Note and/or Additional Variable Note on a greater than *pro rata* basis as compared with any other variable note with a later Maturity Date than such Variable Note and/or Additional Variable Note and (II) at no time shall there be more than three separate Classes of variable note commitments hereunder (including Variable Note Commitments, Incremental Variable Note Commitments, Extended Variable Note Commitments and Replacement Variable 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;&nbsp;&nbsp;&nbsp;&nbsp;<u>(iii)</u> except as to (x) interest rates, fees, amortization, final maturity date, premiums, required prepayment dates and participation in prepayments (which shall, subject to immediately succeeding <u>clauses (iv)(x)</u>, <u>(v)</u> and <u>(vi)</u>, be determined by the Issuer and any Holder who agrees to an Extension and set forth in the relevant Extension Offer) and (y) any covenants or other provisions applicable only to periods after the Latest Term Note Maturity Date (in each case, as of the date of such Extension), the Term Notes of any Holder extended pursuant to any Extension (any such extended term Notes, the "**Extended Term Notes**") shall have the same terms as the

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tranche of Term Notes subject to the relevant Extension Offer; <u>provided</u>, <u>however</u>, that with respect to representations and warranties, affirmative and negative covenants (including financial covenants) and events of default that are applicable to any such tranche of Extended Term Notes, such provisions may be more favorable to the Holders of the applicable tranche of Extended Term Notes than those originally applicable to the tranche of Term Notes subject to the relevant Extension Offer, so long as (and only so long as) such provisions also expressly apply to (and for the benefit of) the tranche of Term Notes subject to the relevant Extension Offer and each other Class of Term Notes 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;<u>(iv)</u> (x) the final maturity date of any Extended Term Notes shall be no earlier than the then applicable Latest Term Note Maturity Date at the time of Extension and (y) no Extended Variable Note Commitments or Extended Variable Notes shall have a final maturity date earlier than (or require commitment reductions prior to) the then applicable Latest Variable Note 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;<u>(v)</u> the Weighted Average Life to Maturity of any Extended Term Notes shall be no shorter than the remaining Weighted Average Life to Maturity of the Term Notes extended thereby (or any other Extended Term Notes then 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;&nbsp;&nbsp;&nbsp;&nbsp;<u>(vi)</u> any Extended Term Notes may participate on a *pro rata* basis or a less than *pro rata* basis (but not greater than a *pro rata* basis) in any voluntary or mandatory repayments or prepayments (but, for purposes of clarity, not scheduled amortization payments) in respect of the Initial Term Notes (and any Additional Term Notes then subject to ratable repayment requirements with respect to the Initial Term Notes), in each case as specified in the respective Extension Offer;

&nbsp;&nbsp;&nbsp;&nbsp;&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>(vii)</u> if the aggregate principal amount of Notes or commitments, as the case may be, in respect of which Holders shall have accepted the relevant Extension Offer exceeds the maximum aggregate principal amount of Notes or commitments, as the case may be, offered to be extended by the Issuer pursuant to such Extension Offer, then the Notes or commitments, as the case may be, of such Holders shall be extended ratably up to such maximum amount based on the respective principal amounts (but not to exceed actual holdings of record) with respect to which such Holders have accepted such Extension Offer;

&nbsp;&nbsp;&nbsp;&nbsp;&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>(viii)</u> each Extension shall be in a minimum amount of $20,000,000;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(ix)</u> any applicable Minimum Extension Condition shall be satisfied or waived by the Issuer; 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;<u>(x)</u> all documentation in respect of such Extension shall be consistent with the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) With respect to any Extension consummated pursuant to this <u>Section</u> <u>2.23</u>, (i) no such Extension shall constitute a voluntary or mandatory prepayment for purposes of <u>Section</u> <u>2.11</u>, (ii) the scheduled amortization payments (in so far as such schedule affects payments due to Holders participating in the relevant Class) set forth in <u>Section</u> <u>2.10</u> shall be adjusted to give effect to such Extension of the relevant Class and (iii) except as set forth in <u>clause</u> <u>(a)(viii)</u> above, no Extension Offer is required to be in any minimum amount or any minimum increment; <u>provided</u> that the Issuer may, at its election, specify as a condition (a "**Minimum Extension Condition**") to consummating such Extension that a minimum amount (to be determined and specified in the relevant Extension Offer in the Issuer's sole discretion and which may be waived by the Issuer) of Notes or commitments (as applicable) of any or all applicable

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tranches be tendered. The Administrative Agent and the Holders hereby consent to the transactions contemplated by this <u>Section</u> <u>2.23</u> (including, for the avoidance of doubt, any payment of any interest, fees or premium in respect of any tranche of Extended Term Notes and/or Extended Variable Note Commitments on such terms as may be set forth in the relevant Extension Offer) and hereby waive the requirements of any provision of this Agreement (including <u>Section</u> <u>2.10</u>, <u>2.11</u> or <u>2.18</u>) or any other Notes Document that may otherwise prohibit any Extension or any other transaction contemplated by this <u>Section</u> <u>2.23</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No consent of any Holder or the Administrative Agent shall be required to effectuate any Extension, other than the consent of each Holder agreeing to such Extension with respect to one or more of its Notes and/or commitments under any Class (or a portion thereof). All Extended Term Notes and Extended Variable Note Commitments and all obligations in respect thereof shall constitute Secured Obligations under this Agreement and the other Notes Documents that are secured by the Collateral and guaranteed on a *pari passu* basis in right of payment and with respect to security with all other applicable Secured Obligations under this Agreement and the other Notes Documents. The Holders hereby irrevocably authorize the Administrative Agent to enter into such amendments to this Agreement and the other Notes Documents with the applicable Issuer(s) and/or any other applicable Note Parties as may be necessary in order to establish new tranches or sub-tranches in respect of Notes or commitments so extended and such technical amendments as may be necessary or appropriate in the reasonable opinion of the Administrative Agent and the Issuer in connection with the establishment of such new tranches or sub-tranches, in each case on terms consistent with this <u>Section</u> <u>2.23</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In connection with any Extension, the Issuer shall provide the Administrative Agent at least ten Business Days' (or such shorter period as may be agreed by the Administrative Agent) prior written notice thereof, and shall agree to such procedures (including regarding timing, rounding and other adjustments and to ensure reasonable administrative management of the credit facilities hereunder after such Extension), 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</u> <u>2.23.</u>

Section 2.24 <u>Representations of the Purchasers</u>. By execution of this Agreement, each Purchaser represents as follows 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;(a) such Purchaser has all requisite power and authority to enter into the Notes Documents to which it is a party, to purchase the Notes on the Closing Date and to carry out and perform its obligations under the Notes Documents to which it is a party and each such Notes Document to which it is a party constitutes a legal, valid and binding obligation of such Purchaser, enforceable in accordance with its terms, subject to the Legal Reservations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) such Purchaser severally represents that it is purchasing the Notes for its own account or for one or more separate accounts maintained by such Purchaser or for the account of one or more managed funds and not with a view to the distribution thereof within the meaning of the Securities Act, provided that the disposition of such Purchaser's or their property shall at all times be and remain within such Purchaser's or their control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) such Purchaser understands and acknowledges that the Notes have not been registered under the Securities Act or any state securities laws and may be resold only if registered pursuant to the provisions of the Securities Act and in compliance with applicable state securities laws or if an exemption from registration is available, except under circumstances where neither such registration nor such an exemption is required by 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;(d) such Purchaser is an "accredited investor" (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D promulgated under the Securities Act) acting for its own account or as a fiduciary or agent for others who are also "accredited investors"; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) such Purchaser has received or had access to business and financial information of the Issuer and information regarding the Notes, and has had an opportunity to ask questions and received answers concerning the Issuer and the Notes, which has been sufficient for such Purchaser to make an informed decision regarding an investment in the Notes.

Section 2.25 <u>AHYDO</u>. Notwithstanding anything to the contrary set forth in this Agreement and the Notes Documents, if at the end of any accrual period (as defined in Section 1272(a)(5) of the Code) ending after the fifth (5th) anniversary of the date on which a Note is issued, the amount of accrued but unpaid original issue discount and interest (as determined pursuant to the Code) exceeds the product of (x) the issue price (as defined in Sections 1273(b) and 1274(a) of the Code and the regulations promulgated thereunder) and (y) the yield to maturity (interpreted in accordance with Section 163(i) of the Code (the "**Maximum Amount**"), then interest for such accrual period shall not be deferred and all accrued but unpaid interest and original issue discount (as determined by pursuant to the Code) as of the end of such accrual period shall be paid in an amount not less than the amount required to reduce the accrued but unpaid original issue discount at the end of such period to an amount less than the Maximum Amount (the "**AHYDO Interest Payment**"). No partial prepayment of the Notes pursuant to any other provision of this Agreement or the other Notes Documents shall alter the obligation of the Issuer to make payments provided for in this Section. For the avoidance of doubt and notwithstanding anything to the contrary herein, this Section shall be construed so as to require payments to be made in cash and at such times and in such amounts so as to cause the Notes to not be treated as having been issued with "significant original issue discount" within the meaning of Section 163(i)(2) pursuant to the Code.

ARTICLE 3

REPRESENTATIONS AND WARRANTIES

On the Closing Date, and thereafter on the dates and to the extent required pursuant to <u>Section</u> <u>4.02</u>, each of Holdings and the Issuer hereby represent and warrant to the Administrative Agent and each of the Holders that:

Section 3.01 <u>Organization; Powers</u>. Holdings, each of the Note Parties and each of its Restricted Subsidiaries (a) is (i) duly organized or incorporated and validly existing and (ii) in good standing (to the extent such concept or an equivalent concept exists in the relevant jurisdiction) under the laws of its jurisdiction of organization or incorporation, (b) has all requisite organizational power and authority to own its property and assets and to carry on its business as now conducted and (c) is qualified to do business in, and is in good standing (to the extent such concept exists in the relevant jurisdiction) in, every jurisdiction where its ownership, lease or operation of properties or conduct of its business requires such qualification; except, in each case referred to in this <u>Section</u> <u>3.01</u> (other than <u>clause (a)</u> with respect to the Issuer and <u>clause</u> <u>(b)</u> with respect to Holdings and the Note Parties) where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

Section 3.02 <u>Authorization; Enforceability</u>. The execution, delivery and performance of each of the Notes Documents are within Holdings' and/or each applicable Note Party's corporate or other organizational power and have been duly authorized by all necessary corporate or other organizational action of Holdings and such Note Party. Each Notes Document to which Holdings and/or any Note Party is a party has been duly executed and delivered by Holdings and/or such Note Party and is a legal, valid and binding obligation of Holdings and/or such Note Party, enforceable in accordance with its terms, subject to the Legal Reservations.

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Section 3.03 <u>Governmental Approvals; No Conflicts</u>. The execution and delivery of the Notes Documents by Holdings and/or each Note Party party thereto and the performance by Holdings and/or such Note Party thereof (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except (i) such as have been obtained or made and are in full force and effect, (ii) in connection with the Perfection Requirements and (iii) such consents, approvals, registrations, filings, or other actions the failure to obtain or make which could not be reasonably expected to have a Material Adverse Effect, (b) will not violate any (i) of such Note Party's Organizational Documents or (ii) Requirements of Law applicable to Holdings and/or such Note Party which violation, in the case of this <u>clause (b)(ii)</u>, could reasonably be expected to have a Material Adverse Effect and (c) will not violate or result in a default under any other material Contractual Obligation to which Holdings and/or such Note Party is a party which violation, in the case of this <u>clause (c)</u>, could reasonably be expected to result in a Material Adverse Effect.

Section 3.04 <u>Financial Condition; No Material Adverse Effect</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The financial statements described in <u>Sections 4.01(c)(i)</u> and <u>(ii)</u> (or if applicable, the financial statements most recently provided pursuant to <u>Section</u> <u>5.01(a)</u> or <u>(b)</u>, as applicable), present fairly, in all material respects, the financial position and results of operations and cash flows of Indivior PLC<u>the Applicable Reporting Company</u> on a consolidated basis as of such dates and for such periods in accordance with GAAP, subject, in the case of financial statements provided pursuant to <u>Section</u> <u>4.01(c)(i)</u> or <u>Section</u> <u>5.01(a)</u>, to the absence of footnotes and normal year-end adjustments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except as set forth in the Disclosure Documents, since December 31, 2023, there have been no events, developments or circumstances that have had, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

Section 3.05 <u>Properties</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) As of the Closing Date, <u>Schedule</u> <u>3.05</u> sets forth the address of each Real Estate Asset (or each set of such assets that collectively comprise one operating property) that is owned in fee simple by the Issuer or any of their Restricted Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Issuer and each of their Restricted Subsidiaries have good and valid fee simple title to or rights to purchase, or valid leasehold interests in, or easements or other limited property interests in, all of their respective Real Estate Assets and have good title to their personal property and assets, in each case, except (i) for defects in title that do not materially interfere with their ability to conduct their business as currently conducted or to utilize such properties and assets for their intended purposes or (ii) where the failure to have such title would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. All such properties and assets are free and clear of Liens, other than Permitted Liens.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(c)</u> The Issuer and their Restricted Subsidiaries own or otherwise have a license or right to use all rights in Patents, Trademarks, Copyrights and other rights in works of authorship (including all copyrights embodied in software) and all other intellectual property rights (collectively, the "**IP Rights**") used to conduct the businesses of the Issuer and their Restricted Subsidiaries as presently conducted without, to the knowledge of the Issuer, any infringement or misappropriation of the IP Rights of third parties, except to the extent such failure to own or license or have rights to use would not, or where such infringement or misappropriation would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

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Section 3.06 <u>Litigation and Environmental Matters</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except as set forth in the Disclosure Documents, there are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge of the Issuer, threatened in writing against or affecting Holdings, the Issuer or any of their Restricted Subsidiaries which would 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Except for any matters that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect, (i) no Issuer nor any of its Restricted Subsidiaries is subject to or has received notice of any Environmental Claim or any Environmental Liability or knows of any basis for any Environmental Liability of such Issuer or any of its Restricted Subsidiaries and (ii) no Issuer nor any of its Restricted Subsidiaries has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under any Environmental Law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Neither the Issuer nor any of its Restricted Subsidiaries has treated, stored, transported or Released any Hazardous Materials on, at or from any currently or formerly operated real estate or Real Estate Facility in a manner that would reasonably be expected to have a Material Adverse Effect.

Section 3.07 <u>Compliance with Laws</u>. Each of Holdings, the Issuer and each of the Issuer' Restricted Subsidiaries is in compliance with all Requirements of Law applicable to it or its property, except, in each case where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

Section 3.08 <u>Investment Company Status</u>. No Note Party, nor Holdings, is an "investment company" as defined in, or is required to be registered under, the Investment Company Act of 1940.

Section 3.09 <u>Taxes</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each of Holdings, the Issuer, and each of the Issuer' Restricted Subsidiaries has timely filed or caused to be filed all Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it that are due and payable, except (a) Taxes that are being contested in good faith by appropriate proceedings diligently conducted and for which the applicable Person has set aside on its books adequate reserves in accordance with GAAP or (b) to the extent that the failure to do so, individually or in the aggregate, would 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;(b) From and after the earlier of (i) the Quoted Eurobond Listing Date and (ii) December 31, 2024, the Notes are "quoted Eurobonds" for the purposes of section 882 ITA 2007 and within the meaning contained in section 987 ITA 2007.

Section 3.10 <u>ERISA</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Plan is in compliance in form and operation with its terms and with ERISA and the Code and all other applicable laws and regulations, except where any failure to comply would not 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No ERISA Event has occurred and is continuing or is reasonably expected to occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur, would reasonably be expected to result in a Material Adverse Effect.

Section 3.11 <u>Disclosure</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) As of the Closing Date, all written information (other than the Projections, other forward-looking information and information of a general economic or industry-specific nature) concerning Indivior PLC<u>any Parent Company</u>, Holdings, the Issuer and the Issuer' Restricted Subsidiaries and the Transactions and prepared by or on behalf of the Issuer or its subsidiaries or their respective representatives and made available to any Holder or the Administrative Agent in connection with the Transactions on or before the Closing Date (the "**Information**"), when taken as a whole, did not, when furnished, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein not materially misleading in light of the circumstances under which such statements are made (after giving effect to all supplements and updates thereto from time to time).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Projections have been prepared in good faith based upon assumptions believed by the Issuer to be reasonable at the time furnished (it being recognized that such Projections are not to be viewed as facts and are subject to significant uncertainties and contingencies many of which are beyond the Issuer' control, that no assurance can be given that any particular financial projections (including the Projections) will be realized, that actual results may differ from projected results and that such differences may be material).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As of the Closing Date, the information included in any Beneficial Ownership Certification (if applicable) is true and correct in all respects.

Section 3.12 <u>Solvency</u>. As of the Closing Date, immediately after the consummation of the Transactions to occur on the Closing Date and the incurrence of indebtedness and obligations on the Closing Date in connection with this Agreement and the other Transactions, (i) the fair value of the assets of the Issuer and their Restricted Subsidiaries on a consolidated basis, at a fair valuation, will exceed the debts and liabilities, direct, subordinated, contingent or otherwise, of the Issuer and their Restricted Subsidiaries on a consolidated basis; (ii) the present fair saleable value of the property of the Issuer and their Restricted Subsidiaries on a consolidated basis will be greater than the amount that will be required to pay the probable liability of the Issuer and their Restricted Subsidiaries on a consolidated basis on their debts and other liabilities, direct, subordinated, contingent or otherwise, as such debts and other liabilities become absolute and matured; (iii) the Issuer and their Restricted Subsidiaries on a consolidated basis will be able to pay their debts and liabilities, direct, subordinated, contingent or otherwise, as such debts and liabilities become absolute and matured; and (iv) the Issuer and their Restricted Subsidiaries on a consolidated basis will not have unreasonably small capital with which to conduct the businesses in which they are engaged as such businesses are now conducted and are proposed to be conducted following the Closing Date.

Section 3.13 <u>Capitalization and Subsidiaries</u>. <u>Schedule</u> <u>3.13</u> sets forth, in each case as of the Closing Date, (a) a correct and complete list of the name of each subsidiary of Holdings and the ownership interest therein held by Holdings or its applicable subsidiary, (b) the type of entity of Holdings and each of its subsidiaries and (c) the jurisdiction of incorporation or organization thereof.

Section 3.14 <u>Security Interest in Collateral</u>. Subject to the terms of the last paragraph of <u>Section</u> <u>4.01</u>, the Legal Reservations, the Perfection Requirements, the provisions of this Agreement and the other relevant Notes Documents, the Collateral Documents will, upon execution and delivery thereof in accordance with <u>Section</u> <u>4.01(a)</u>, <u>Section</u> <u>5.12</u> or Section 5.18 hereof (as applicable), create legal, valid and enforceable Liens on all of the Collateral in favor of the Administrative Agent, for the benefit of itself and

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the other Secured Parties, and upon the satisfaction of the Perfection Requirements, such Liens constitute perfected Liens (with the priority that such Liens are expressed to have under the relevant Collateral Documents) on the Collateral (to the extent such Liens are required to be perfected under the terms of the Notes Documents) securing the Secured Obligations, in each case as and to the extent set forth therein.

Section 3.15 <u>Labor Disputes</u>. Except as individually or in the aggregate would not reasonably be expected to have a Material Adverse Effect: (a) there are no strikes, lockouts or slowdowns against the Issuer or any of their Restricted Subsidiaries pending or, to the knowledge of the Issuer or any of their Restricted Subsidiaries, threatened and (b) the hours worked by and payments made to employees of the Issuer and their Restricted Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Federal, state, local or foreign law dealing with such matters.

Section 3.16 <u>Federal Reserve Regulations</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) On the Closing Date, not more than 25% of the value of the assets of Holdings, the Issuer and the Issuer' Restricted Subsidiaries taken as a whole is represented by Margin Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) None of the Issuer nor any of the Issuer' Restricted Subsidiaries is engaged principally, or as one of its important activities, in the business of extending credit for the purpose of buying or carrying Margin Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No part of the proceeds of any Note will be used, whether directly or indirectly, and whether immediately, incidentally or ultimately, for any purpose that results in a violation of the provisions of Regulation T, Regulation U or Regulation X.

<u>Section</u> <u>3.17</u> <u>Use of Proceeds</u>. Issuer will use the proceeds of any Borrowing on the Closing Date to fund the Refinancing and the Transaction Costs, and use the proceeds of any Borrowing on or after the Closing Date, for any purpose not otherwise prohibited under this Agreement, including for general corporate purposes, working capital needs, the repayment of Indebtedness, the making of Restricted Payments and the making of Investments.

<u>Section</u> <u>3.18</u> <u>Senior Debt</u>. The Obligations constitute (a) "Senior Debt" (or the equivalent thereof) under the documentation governing or evidencing any Indebtedness in excess of the Threshold Amount of any Note Party permitted to be incurred hereunder constituting Indebtedness that is subordinated in right of payment to the Obligations and (b) "First Lien Debt" (or the equivalent thereof) under the documentation governing or evidencing any Indebtedness in excess of the Threshold Amount of any Note Party permitted to be incurred hereunder constituting Indebtedness that is secured by a Lien that is junior to the Liens securing the Obligations.

Section 3.19 <u>Economic and Trade Sanctions and Anti-Corruption Laws</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (i) None of Holdings, the Issuer nor any of the Issuer' Restricted Subsidiaries nor, to the knowledge of the Issuer, any director, officer, agent, employee or Affiliate of any of the foregoing is (A) the subject of any U.S. sanctions administered or enforced by the Office of Foreign Assets Control of the U.S. Treasury Department ("**OFAC**") or the U.S. State Department, the United Nations, the European Union, His Majesty's Treasury, or other relevant sanctions authority (collectively, "**Sanctions**"), or (B) located, organized or resident in a country, region or territory that is, or whose government is, the subject of Sanctions (currently Cuba, Iran, North Korea, Syria, the so-called Donetsk People's Republic, the so-called Luhansk People's Republic, and the Crimea Region of Ukraine); and (ii) no Issuer will directly or indirectly, use the proceeds of the Notes or lend, contribute, or otherwise make available such proceeds to any Person, for the purpose of financing the activities of or with any Person, or in any country or territory, that currently is, or whose government is, the subject of any Sanctions, except to the extent licensed or otherwise approved, or in any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the Notes or other Note Issuances, whether as Holder, advisor, investor or otherwise)

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To the extent applicable, each Note Party is in compliance in all material respects with (i) each of the foreign assets control regulations of the U.S. Treasury Department (31 CFR, Subtitle B, Chapter V), and any other enabling legislation or executive order relating thereto and (ii) the USA PATRIOT Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) No part of the proceeds of any Note will be used, directly or, to the knowledge of the Issuer, 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 improperly obtain, retain or direct business or obtain any improper advantage, in violation of the U.S. Foreign Corrupt Practices Act of 1977 (the "**FCPA**") or any other applicable anti-bribery law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The representations and undertakings in this Section 3.19 shall only be given by Intermediate Holding and the Issuer and shall, except in respect of the U.S. Co-Issuer, only apply for the benefit of any Holder or the Administrative Agent to the extent that giving, complying with or receiving the benefit of (as applicable) such representations and undertakings does not result in any violation of Regulation (EU) No 2271/96 of the European Parliament and of the Council of 22 November 1996 protecting against the effects of the extraterritorial application of legislation adopted by a third country, and actions based on or resulting therefrom.

Section 3.20 <u>Center of Main Interests and Establishments</u><u>.</u>(a) For purposes of the COMI Regulation, the center of main interest (as that term is used in Article 3(1) of the COMI Regulation) of each Note Party whose Original Jurisdiction is a member state of the European Union is situated in its Original Jurisdiction and it has no "establishment" (as that term is used in Article 2(10) of the COMI Regulation) in any other jurisdiction.

Section 3.21 <u>Pensions</u><u>.</u>Except in relation to any arrangement which provides only benefits on death which are wholly insured, no Parent Company nor any of its subsidiaries is or has at any time been an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004) of a UK registered occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pensions Schemes Act 1993).

Section 3.22 <u>Luxembourg</u> <u>Regulatory Matters</u><u>.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Solely to the extent any Lux Note Party is a party to this Agreement, the head office (administration centrale) and (for the purposes of the COMI Regulation) the center of main interests (*centre des intérets principaux*) of each Lux Note Party in Luxembourg is located at the place of its registered office (*siège statutaire*) in Luxembourg. No Lux Note Party carries out (a) any activity in the financial sector on a professional basis (as referred to in the Luxembourg law dated 5 April 1993 on the financial sector, as amended from time to time) or (b) any activity requiring the granting of a business license under the Luxembourg law dated 2 September 2011 governing the access to the professions of skilled craftsman, tradesman, manufacturer, as well as to certain liberal professions. Each Lux Note Party complies with all requirements of the Luxembourg law of 31 May 1999 on the domiciliation of companies, as amended, and all related regulations. No Lux Note Party has filed and, to the best of its knowledge, no Person has filed a request with any competent court seeking that a Lux Note Party be declared subject to

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bankruptcy (*faillite*), general settlement or composition with creditors (*concordat préventif de faillite*) controlled management (gestion controlee), reprieve from payment (*sursis de paiement*), judicial or voluntary liquidation (*liquidation judiciaire ou volontaire*), such other proceedings listed at Article 13, items 2 to 12, and Article 14 of the Luxembourg Act dated December 19, 2002 on the Register of Commerce and Companies, on Accounting and on Annual Accounts of the Companies (as amended from time to time), (and which include foreign court decision as to *faillite, concordat* or analogous procedures according to the COMI Regulation). The Lux Note Parties are not, and will not, as a result of their entry into the Notes Documents or the performance of its obligations thereunder, be in a state of cessation of payments (*cessation des paiements*), or be deemed to be in such state, and have not lost, and will not, as a result of their entry into the Notes Documents or the performance of their obligations thereunder, lose their creditworthiness (*ébranlement de crédit*), or be deemed to have lost such creditworthiness and are not aware, or may be not reasonably be aware, of such circumstances. Each Lux Note Party is in compliance with any reporting requirements applicable to it pursuant to the to the Central Bank of Luxembourg regulation 2011/8 or Regulation (EU) N°648/2012 of the European Parliament and of the Council dated 4 July 2012 on OTC derivatives, central counterparties and trade repositories, except in each case referred to in (i)(b), (ii) and (v) where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.

ARTICLE 4

CONDITIONS

Section 4.01 <u>Closing Date</u>. The obligations of any Holder to make Notes shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with <u>Section</u> <u>9.02</u>):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Note Purchase Agreement and Notes Documents</u>. The Administrative Agent (or its counsel) shall have received from each Note Party party thereto (i) a counterpart signed by each such Note Party (or written evidence satisfactory to the Administrative Agent (which may include a copy transmitted by facsimile or other electronic method) that such Issuer has signed a counterpart) of (A) this Agreement, (B) the Note Guaranty and (C) any Promissory Note requested by a Holder at least three Business Days prior to the Closing Date and (ii) a Borrowing Request as required by <u>Section</u> <u>2.03</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Legal Opinions</u>. The Administrative Agent shall have received a customary written opinion of each of (i) Troutman Pepper Hamilton Sanders LLP, in its capacity as special counsel for Holdings, the Issuer and the Subsidiary Guarantors, (ii) McDermott, Will and Emery UK LLP in its capacity as English counsel for the Administrative Agent and the Holders and (iii) Maples and Calder (Ireland) LLP in its capacity as Irish counsel for the Administrative Agent and the Holders, in each case with respect to the Notes Documents described in clause (a) above, dated the Closing Date and addressed to the Administrative Agent and the Holders and 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;(c) <u>Financial Statements</u>. The Administrative Agent shall have received (i) an audited consolidated balance sheet for each of the three most recent fiscal years and related audited consolidated statements of income, stockholders' equity and cash flows of Indivior PLC and its Subsidiaries, for the three most recently completed fiscal years, in each case ended at least 90 days before the Closing Date; (ii) unaudited consolidated balance sheets and related statements of income, stockholders' equity and cash flows of Indivior PLC and its subsidiaries, for each subsequent fiscal quarter ended at least 45 days before the Closing Date (other than any fiscal fourth quarter) after the most recent fiscal period for which audited financial statements have been provided pursuant to clause (i) hereof, in each case prepared in accordance with GAAP and (iii) detailed projected consolidated financial statements of Indivior PLC and its subsidiaries, prepared after giving effect to the Transactions as if the Transactions had occurred at the beginning of such period.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>[</u>Reserved.]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) <u>Closing Certificates; Certified Charters; Good Standing Certificates</u>. The Administrative Agent shall have received (A) a certificate of Holdings and each Note Party, dated the Closing Date and executed by a secretary, director, assistant secretary or other senior officer (as the case may be) thereof, which shall (1) certify that attached thereto is a true and complete copy of the resolutions or written consents of its shareholders, board of directors (or if applicable, committee of the board of directors), board of managers, members and/or other governing body approving the terms of and authorizing the execution, delivery and performance of the Notes Documents to which it is a party and, in the case of the Issuer, the borrowings and other note issuances hereunder, and that such resolutions or written consents have not been modified, rescinded or amended and are in full force and effect, (2) identify by name and title and bear the signatures of the officers, managers, directors or authorized signatories of Holdings or such Note Party authorized to sign the Notes Documents to which it is a party on the Closing Date and which it is required to execute pursuant to <u>Section</u> <u>5.16</u>, (3) certify (x) that attached thereto is a true and complete copy of the certificate or articles of incorporation or organization (or memorandum of association or constitution or other equivalent thereof) of Holdings or such Note Party certified by the relevant authority of the jurisdiction of organization of Holdings or such Note Party and a true and correct copy of its by-laws or operating, management, partnership or similar agreement and (y) that such documents or agreements have not been amended (except as otherwise attached to such certificate and certified therein as being the only amendments thereto as of such date) and (4) in the case of an English Note Party, confirm that the borrowing or guaranteeing or securing the borrowings and other note issuances contemplated by the Notes Documents would not cause any borrowing, guarantee, security or similar limit binding on such English Note Party to be exceeded, (B) a good standing (or equivalent) certificate as of a recent date for Holdings or such Note Party from its jurisdiction of organization (to the extent such concept, or an equivalent concept, exists in such jurisdiction) and (C) in the case of an Irish Note Party (1) a certificate regarding Section 82 and Section 239 of the Irish Companies Act and (2) certifying a copy of its register of members.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Representations and Warranties</u>. The representations and warranties set forth in Article III hereof or in the other Notes Documents shall be true and correct in all material respects on and as of the Closing Date; <u>provided</u> that in the case of any representation and warranty which expressly relates to a given date or period, such representation and warranty shall be true and correct in all material respects as of the respective date or for the respective period, 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;(g) <u>Fees</u>. Prior to or substantially concurrently with the funding of the Initial Term Notes hereunder, the Administrative Agent shall have received (i) all fees required to be paid by the Issuer or any Affiliate thereof on the Closing Date pursuant to the Fee Letters and (ii) all expenses required to be paid by the Issuer for which invoices have been presented at least three Business Days prior to the Closing Date or such later date to which the Issuer may agree (including the reasonable fees and expenses of legal counsel), in each case on or before the Closing Date, which amounts may be offset against the proceeds of the Notes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>No Default</u>. On the Closing Date, no Event of Default is continuing or will result from the making of any Notes on such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Solvency</u>. The Administrative Agent shall have received a certificate dated as of the Closing Date in substantially the form of <u>Exhibit</u> <u>M</u> from the chief financial officer (or other officer with reasonably equivalent responsibilities) of the Issuer certifying as to the matters set forth therein (or, at the Issuer's option, a solvency opinion from an independent investment bank or valuation firm of nationally recognized standing in form and substance 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;(j) <u>Perfection Certificate</u>. The Administrative Agent shall have received a duly completed Perfection Certificate dated the Closing Date and signed by the Issuer, together with all attachments contemplated thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Refinancing</u>. The Administrative Agent shall have received evidence that the Refinancing shall have been consummated, or shall be consummated substantially simultaneously with the initial Borrowing of Initial Term Notes under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>USA PATRIOT Act</u>. No later than three Business Days in advance of the Closing Date, the Administrative Agent shall have received all documentation and other information reasonably requested by any Holder that is party hereto on the Closing Date in writing with respect to any Note Party at least ten days in advance of the Closing Date, which documentation or other information is required by regulatory authorities under applicable "know your customer" and anti-money laundering rules and regulations, including the USA PATRIOT Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) <u>[Reserved]</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) <u>Officer's Certificate</u>. The Administrative Agent shall have received a certificate signed by a Responsible Officer or director of the Issuer certifying as of the Closing Date to the matters set forth in <u>Section</u> <u>4.01(f)</u> and <u>(h)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) <u>Absence of Other Indebtedness</u>. On the Closing Date, after giving effect to the initial borrowings under the Term Note Commitments, none of the Issuer or any of its subsidiaries shall have any third party Indebtedness for borrowed money other than (i) the Obligations, (ii) ordinary course capital leases, purchase money indebtedness, equipment financings and surety bonds and (iii) other indebtedness permitted by <u>Section</u> <u>6.01</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) <u>Extensions of Credit Lawful</u>. As at the date on which the initial borrowings under the Term Note Commitments are made, it is not unlawful in any applicable jurisdiction for a Holder to perform any of its obligations as contemplated herein or to fund or maintain its participation in any such advance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) <u>Dispositions</u>. No Disposition of all or substantially all of the assets of Indivior PLC and its subsidiaries shall have occurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) <u>[Reserved]</u>

For purposes of determining whether the conditions specified in this <u>Section</u> <u>4.01</u> have been satisfied on the Closing Date, by funding the Notes hereunder, the Administrative Agent and each Holder that has executed this Agreement (or an Assignment and Assumption on the Closing Date) shall be deemed to have consented to, approved or accepted, or to be satisfied with, each document or other matter required hereunder to be consented to or approved by or acceptable or satisfactory to the Administrative Agent or such Holder, as the case may be.

Section 4.02 <u>Each</u> <u>Note Issuance</u>. After the Closing Date, the obligation of each Note Holder to make a Note Issuance (which, for the avoidance of doubt, shall not include any Incremental Notes advanced in connection with a Limited Condition Acquisition to the extent not otherwise required by the Holders of such Incremental Notes) is subject to the satisfaction of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Administrative Agent shall have received a Borrowing Request as required by <u>Section</u> <u>2.03</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;(b) The representations and warranties of the Note Parties set forth in this Agreement and the other Notes Documents shall be true and correct in all material respects on and as of the date of any such Note Issuance with the same effect as though such representations and warranties had been made on and as of the date of such Note Issuance; <u>provided</u> that to the extent that any representation and warranty specifically refers to a given date or period, it shall be true and correct in all material respects as of such date or for such period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) At the time of and immediately after giving effect to the applicable Note Issuance, no Event of Default or Default exists.

Each Note Issuance after the Closing Date shall be deemed to constitute a representation and warranty by the Issuer on the date thereof as to the matters specified in <u>paragraphs (b)</u> and <u>(c)</u> of this <u>Section</u> <u>4.02</u>.

ARTICLE 5

AFFIRMATIVE COVENANTS

From the Closing Date until the date that all the Variable Note Commitments and any Additional Note Commitments have expired or terminated and the principal of and interest on each Note and all fees, expenses and other amounts payable under any Notes Document (other than contingent indemnification obligations for which no claim or demand has been made) have been paid in full in Cash (such date, the "**Termination Date**"), each of Holdings and each Issuer hereby covenants and agrees with the Administrative Agent and the Holders that:

Section 5.01 <u>Financial Statements and Other Reports</u>. The Issuer will deliver to the Administrative Agent for delivery to each Holder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Quarterly Financial Statements</u>. Within 45 days (or 60 days in the case of the first Fiscal Quarter ending after the Closing Date) after the end of each of the first three Fiscal Quarters of each Fiscal Year, commencing with the Fiscal Quarter ending September 30, 2024, the consolidated balance sheet of Indivior PLC<u>the Applicable Reporting Company</u> as at the end of such Fiscal Quarter and the related consolidated statements of income, stockholders' equity, and cash flows of Indivior PLC<u>the Applicable Reporting Company</u> for such Fiscal Quarter and for the period from the beginning of the then current Fiscal Year to the end of such Fiscal Quarter, and setting forth, in reasonable detail, in comparative form the corresponding figures for the corresponding periods of the previous Fiscal Year, all in reasonable detail, together with a Responsible Officer Certification with respect thereto and a Narrative Report with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Annual Financial Statements</u>. Within 90 days after the end of each Fiscal Year ending thereafter, (i) the consolidated balance sheet of Indivior PLC<u>the Applicable Reporting Company</u> as at the end of such Fiscal Year and the related consolidated statements of income, stockholders' equity and cash flows of Indivior PLC<u>the Applicable Reporting Company</u> for such Fiscal Year and setting forth, in reasonable detail, in comparative form the corresponding figures for the previous Fiscal Year and (ii) with respect to such consolidated financial statements, (A) a report thereon of an independent certified public accountant of recognized national standing (which report shall be unqualified as to "going concern" and scope of audit (except for any such qualification pertaining to the (x) maturity of any Notes occurring within 12 months of the relevant audit or any (y) anticipated or prospective breach of the financial covenants under this Agreement), and shall state that such consolidated financial statements fairly present, in all material respects, the consolidated financial position of Indivior PLC<u>the Applicable Reporting Company</u> as at the dates indicated and its income and cash flows for the periods indicated in conformity with GAAP and (B) a Narrative Report with respect to such Fiscal Year;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Compliance Certificate</u>. Together with each delivery of financial statements of Indivior PLC<u>the Applicable Reporting Company</u> pursuant to <u>Sections</u> <u>5.01(a)</u> and <u>5.01(b)</u>, (i) a duly executed and completed Compliance Certificate (A) certifying that no Default or Event of Default exists (or if a Default or Event of Default exists, describing in reasonable detail such Default or Event of Default and the steps being taken to cure, remedy or waive the same), (B) in the case of financial statements delivered pursuant to <u>Section</u> <u>5.01(b)</u>, setting forth reasonably detailed calculations of (x) Excess Cash Flow of Holdings and its Restricted Subsidiaries for each Fiscal Year beginning with the financial statements for the Fiscal Year ending December 31, 2025, (y) Net Proceeds in respect of any Prepayment Asset Sale or Net Insurance/Condemnation Proceeds received during the applicable period by or on behalf of the Issuer or any of the Restricted Subsidiaries subject to prepayment pursuant to <u>Section</u> <u>2.11(b)</u>, and the portion of such Net Proceeds that have been invested or are intended to be reinvested in accordance with <u>Section</u> <u>2.11(b)(ii)</u> and (z) in the case of financial statements delivered pursuant to <u>Sections 5.01(a)</u> and <u>5.01(b)</u>, setting forth reasonably detailed calculations of Consolidated Total Assets, the Available Amount and the Available Excluded Contribution Amount as of the last day of the Fiscal Quarter or Fiscal Year, as the case may be, covered by such financial statements or stating that there has been no change to such amounts since the date of delivery of the last Compliance Certificate and (C) setting forth in reasonable detail calculations necessary for determining compliance with <u>Section</u> <u>6.14</u> and (ii) (A) a summary of the pro forma adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) from such financial statements and (B) a list identifying each subsidiary of the Issuer as a Restricted Subsidiary or an Unrestricted Subsidiary as of the date of delivery of such Compliance Certificate or confirming that there is no change in such information since the later of the Closing Date and the date of the last such list;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>Notice of Change in Beneficial Ownership Information</u>. Promptly upon any Responsible Officer of the Issuer obtaining knowledge of any change in the information provided in any Beneficial Ownership Certification (if applicable) 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;(e) <u>Notice of Default</u>. Promptly upon any Responsible Officer of the Issuer obtaining knowledge of (i) any Default or Event of Default or (ii) the occurrence of any event or change that has caused or evidences or would reasonably be expected to cause or evidence, either individually or in the aggregate, a Material Adverse Effect, a reasonably-detailed notice specifying the nature and period of existence of such condition, event or change and what action the Issuer have taken, are taking and propose to take with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Notice of Litigation</u>. Promptly upon any Responsible Officer of the Issuer obtaining knowledge of (i) the institution of, or threat (in writing) of, any Adverse Proceeding not previously disclosed in writing by the Issuer to the Administrative Agent, or (ii) any material development in any Adverse Proceeding that, in the case of either of <u>clause</u> <u>(i)</u> or <u>(ii)</u>, could reasonably be expected to have a Material Adverse Effect, written notice thereof from such Issuer (which shall be deemed to have been delivered to the extent such matters are described in the Disclosure Documents);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) <u>ERISA</u>. Promptly upon any Responsible Officer of the Issuer becoming aware of the occurrence of any ERISA Event that could reasonably be expected to have a Material Adverse Effect, a written notice specifying the nature thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Financial Plan</u>. As soon as available and in any event no later than 90 days after the beginning of each Fiscal Year, commencing in respect of the Fiscal Year ending December 31, 2025, a consolidated plan and financial forecast for each Fiscal Quarter of such Fiscal Year, including a forecasted consolidated statement of Indivior PLC's<u>the Applicable Reporting Company's</u> financial position and forecasted consolidated statements of income and cash flows of Indivior PLC<u>the Applicable Reporting Company</u> for such Fiscal Year, prepared in reasonable detail setting forth, with appropriate discussion, the principal assumptions on which such financial plan is based in a manner consistent with the level of detail provided in the Projections;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>Information Regarding Collateral</u>. Prompt (and in any event, within 30 days of the relevant change) written notice of any change (i) in any Note Party's legal name, (ii) in any Note Party's type of organization, (iii) in any Note Party's jurisdiction of organization or (iv) in any Note Party's organizational identification number, in each case to the extent such information is necessary to enable the Administrative Agent to perfect or maintain the perfection and priority of its security interest in the Collateral of the relevant Note Party, together with a certified copy of the applicable Organizational Document reflecting the relevant change;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) <u>Annual Collateral Verification</u>. Together with the delivery of each Compliance Certificate provided with the financial statements required to be delivered pursuant to <u>Section</u> <u>5.01(b)</u>, a Perfection Certificate Supplement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) <u>Certain Reports</u>. Promptly upon their becoming available and without duplication of any obligations with respect to any such information that is otherwise required to be delivered under the provisions of any Notes Document, copies of (i) all financial statements, reports, notices and proxy statements sent or made available generally by Indivior PLC or its<u>the Applicable Reporting Company or the</u> applicable Parent Company to its security holders acting in such capacity and (ii) all regular and periodic reports and all registration statements (other than on Form S-8 or a similar form) and prospectuses, if any, filed by Indivior PLC or its<u>the Applicable Reporting Company or the</u> applicable Parent Company with any securities exchange or with the SEC or any analogous governmental or private regulatory authority with jurisdiction over matters relating to securities; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Other Information</u>. Such other certificates, reports and information (financial or otherwise) as the Administrative Agent may reasonably request from time to time in connection with the financial condition or business of Holdings, the Issuer and their Restricted Subsidiaries or that for purposes of compliance with applicable "know your customer" requirements under the USA PATRIOT Act, the Beneficial Ownership Regulation (if applicable) or other applicable anti-money laundering laws.

Documents required to be delivered pursuant to this <u>Section</u> <u>5.01</u> may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which Indivior PLC<u>the Applicable Reporting Company</u> or the Issuer (or a representative thereof) (x) posts such documents or (y) provides a link thereto on the website of Indivior PLCt<u>he Applicable Reporting Company</u> on the Internet at the website address listed on <u>Schedule</u> <u>9.01</u>; <u>provided</u> that, other than with respect to items required to be delivered pursuant to <u>Section</u> <u>5.01(k)</u>, the Issuer shall promptly notify (which may be by facsimile or electronic mail) the Administrative Agent of the posting of any such documents on the website of Indivior PLC<u>the Applicable Reporting Company</u> (or its applicable subsidiary or any applicable Parent Company) and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents; (ii) on which such documents are delivered by the Issuer to the Administrative Agent for posting on behalf of the Issuer on Intralinks, SyndTrak or another relevant website, if any, to which each Holder and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); (iii) on which executed certificates or other documents are faxed to the Administrative Agent (or electronically mailed to an address provided by the Administrative Agent); or (iv) in respect of the items required to be delivered pursuant to <u>Section</u> <u>5.01(k)</u> in respect of information filed by Indivior PLC<u>the Applicable Reporting Company</u> or any applicable Parent Company with any securities exchange or with the SEC or any analogous governmental or private regulatory authority with jurisdiction over matters relating to securities (including, without limitation, the Financial Conduct Authority), on which such items have been made available on the SEC website or the website of the relevant analogous governmental or private regulatory authority or securities exchange.

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Notwithstanding the foregoing, the obligations in <u>paragraphs (a)</u>, <u>(b)</u> and <u>(h)</u> of this <u>Section</u> <u>5.01</u> may be satisfied with respect to any financial statements of Indivior PLC<u>any Applicable Reporting Company</u> by furnishing (A) the applicable financial statements of any Parent<u>the Applicable Reporting</u> Company of Indivior PLC or (B) Indivior PLC's<u>the Applicable Reporting Company's</u> (or any other Parent Company's), as applicable, Form 20-F, 10-K or 10-Q, as applicable, filed with the SEC or any securities exchange, in each case, within the time periods specified in such paragraphs; <u>provided</u> that, with respect to each of <u>clauses (A)</u> and <u>(B)</u>, (i) to the extent such financial statements relate to any Parent Company, such financial statements shall be accompanied by consolidating information that summarizes in reasonable detail the differences between the information relating to such Parent Company, on the one hand, and the information relating to the Issuer and their subsidiaries on a standalone basis, on the other hand, which consolidating information shall be certified by a Responsible Officer of the Issuer as having been fairly presented in all material respects and (ii) to the extent such statements are in lieu of statements required to be provided under <u>Section</u> <u>5.01(b)</u>, such statements shall be accompanied by a report and opinion of an independent registered public accounting firm of nationally recognized standing, which report and opinion shall satisfy the applicable requirements set forth in <u>Section</u> <u>5.01(b)</u>.

Each Issuer hereby acknowledges that (a) the Administrative Agent and/or the Administrative Agent will make available to the Holders materials and/or information provided by or on behalf of Indivior PLC<u>any Applicable Reporting Company</u> and/or the Issuer hereunder (collectively, "**Issuer Materials**") by posting Issuer Materials on IntraLinks or another similar electronic system (the "**Platform**") and (b) certain of the Holders (each, a "**Public Holder**") may have personnel who do not wish to receive material non-public information with respect to Indivior PLC<u>any Applicable Reporting Company,</u> the Issuer or their respective subsidiaries, or the respective securities of any of the foregoing, and who may be engaged in investment and other market-related activities with respect to such Persons' securities. Each Issuer hereby agrees that (w) all Issuer Materials that are to be made available to Public Holders shall be clearly and conspicuously marked "PUBLIC" which, at a minimum, shall mean that the word "PUBLIC" shall appear prominently on the first page thereof; (x) by marking Issuer Materials "PUBLIC," each Issuer shall be deemed to have authorized the Administrative Agent, the Administrative Agent and the Holders to treat such Issuer Materials as not containing any material non-public information with respect to Indivior PLC<u>any Applicable Reporting Company</u>, each Issuer or their respective securities for purposes of U.S. Federal, state and foreign securities laws (<u>provided</u>, <u>however</u>, that to the extent such Issuer Materials constitute Information, they shall be treated as set forth in <u>Section</u> <u>9.13</u>); (y) all Issuer Materials marked "PUBLIC" are permitted to be made available through a portion of the Platform designated "Public Side Information"; and (z) the Administrative Agent and the Administrative Agent shall be entitled to treat the Issuer Materials that are not marked "PUBLIC" as being suitable only for posting on a portion of the Platform not designated "Public Side Information".

Section 5.02 <u>Existence</u>. Except as otherwise permitted under <u>Section</u> <u>6.07</u>, each Issuer will, and each Issuer will cause each of Holdings and their Restricted Subsidiaries to, at all times preserve and keep in full force and effect its existence and all rights, franchises, licenses and permits material to its business except, other than with respect to the preservation of the existence of Holdings and the Issuer, to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect; <u>provided</u> that neither Holdings, nor the Issuer nor any of the Issuer' Restricted Subsidiaries shall be required to preserve any such existence (other than with respect to the preservation of existence of Holdings and the Issuer), right, franchise, license or permit if a Responsible Officer of such Person or such Person's board of directors (or similar governing body) determines that the preservation thereof is no longer desirable in the conduct of the business of such Person, and that the loss thereof is not disadvantageous in any material respect to such Person or to the Holders.

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Section 5.03 <u>Payment of Taxes</u>. Each Issuer will, and each Issuer will cause each of their Restricted Subsidiaries to, pay all of its Tax liabilities; <u>provided</u> that no such Tax liability need be paid if (a) it is being contested in good faith by appropriate proceedings promptly instituted and diligently conducted, so long as adequate reserves or other appropriate provisions, as are required in conformity with GAAP, have been made therefor, or (b) failure to pay or discharge the same could not reasonably be expected to result in a Material Adverse Effect.

Section 5.04 <u>Maintenance of Properties</u>. Each Issuer will, and will cause each of its Restricted Subsidiaries to, maintain or cause to be maintained in good repair, working order and condition, ordinary wear and tear and casualty and condemnation excepted, all property reasonably necessary to the normal conduct of business of the Issuer and their Restricted Subsidiaries and from time to time will make or cause to be made all needed and appropriate repairs, renewals and replacements thereof except as expressly permitted by this Agreement or where the failure to maintain such properties or make such repairs, renewals or replacements could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

Section 5.05 <u>Insurance</u>. Except where the failure to do so would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, each Issuer will maintain or cause to be maintained, with financially sound and reputable insurers, such insurance coverage with respect to liabilities, losses or damage in respect of the assets, properties and businesses of the Issuer and their Restricted Subsidiaries as may customarily be carried or maintained under similar circumstances by Persons of established reputation engaged in similar businesses, in each case in such amounts (giving effect to self-insurance), with such deductibles, covering such risks and otherwise on such terms and conditions as shall be customary for such Persons. Each Issuer will also maintain, or cause to be maintained, flood insurance coverage with respect to each Flood Hazard Property, in each case in compliance with the Flood Insurance Laws (where applicable). Each of the foregoing policies of insurance shall (i) name the Administrative Agent on behalf of the Secured Parties as an additional insured thereunder as its interests may appear and (ii) to the extent available from the relevant insurance carrier, in the case of each casualty insurance policy (excluding any business interruption insurance policy), contain a loss payable clause or endorsement that names the Administrative Agent, on behalf of the Secured Parties as the loss payee thereunder and, to the extent available, provide for at least 30 days' prior written notice to the Administrative Agent of any modification or cancellation of such policy (or 10 days' prior written notice in the case of the failure to pay any premiums thereunder).

Section 5.06 <u>Inspections</u>. Each Issuer will, and will cause each of its Restricted Subsidiaries to, permit any authorized representative designated by the Administrative Agent to visit and inspect any of the properties of such Issuer and any of its Restricted Subsidiaries at which the principal financial records and executive officers of the applicable Person are located, to inspect, copy and take extracts from its and their respective financial and accounting records, and to discuss its and their respective affairs, finances and accounts with its and their Responsible Officers and independent public accountants (<u>provided</u> that such Issuer (or any of its subsidiaries) may, if it so chooses, be present at or participate in any such discussion), all upon reasonable notice and at reasonable times during normal business hours; <u>provided</u> that, excluding such visits and inspections during the continuation of an Event of Default, (x) only the Administrative Agent on behalf of the Holders may exercise the rights of the Administrative Agent and the Holders under this <u>Section</u> <u>5.06</u>, (y) the Administrative Agent shall not exercise such rights more often than one time during any calendar year and (z) only one such time per calendar year shall be at the expense of the Issuer; <u>provided</u> <u>further</u> that when an Event of Default exists, the Administrative Agent (or any of its representatives or independent contractors) may do any of the foregoing at the expense of Issuer at any time during normal business hours and upon reasonable advance notice; <u>provided</u> <u>further</u> that, notwithstanding anything to the contrary herein, neither the Issuer nor any Restricted Subsidiary shall be required to disclose, permit the inspection, examination or making of copies of or taking abstracts from, or discuss any document, information, or other matter (i) that constitutes non-financial trade secrets or non-financial proprietary information of the Issuer or its subsidiaries and/or any of its customers and/or suppliers, (ii) in respect of which disclosure to the Administrative Agent or any Holder (or any of their respective representatives or contractors) is prohibited by applicable law or (iii) that is subject to attorney-client or similar privilege or constitutes attorney work product.

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Section 5.07 <u>Maintenance of Book and Records</u>. Each Issuer will, and will cause each of its Restricted Subsidiaries to, maintain proper books of record and account containing entries of all material financial transactions and matters involving the assets and business of the Issuer and their Restricted Subsidiaries that are full, true and correct in all material respects and permit the preparation of consolidated financial statements in accordance with GAAP.

Section 5.08 <u>Compliance with Laws</u>. Each Issuer will, and will cause Holdings and each of their Restricted Subsidiaries to, comply with the requirements of (i) OFAC and the FCPA and (ii) all applicable laws, rules, regulations and orders of any Governmental Authority (including ERISA, all Environmental Laws and the USA PATRIOT Act), except, in the case of <u>clause (ii)</u>, to the extent the failure to so comply could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

Section 5.09 <u>Environmental</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Environmental Disclosure</u>. Each Issuer will deliver 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;(i) as soon as practicable following receipt thereof, copies of all non-privileged environmental audits, investigations, analyses and reports of any kind or character, whether prepared by personnel of such Issuer or any of its Restricted Subsidiaries or by independent consultants, governmental authorities or any other Persons, with respect to significant environmental matters at the applicable Issuer's real property or with respect to any Environmental Claims that, in each case might 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;(ii) promptly upon the occurrence thereof, written notice describing in reasonable detail (A) any Release required to be reported by such Issuer or any of its Restricted Subsidiaries to any federal, state or local governmental or regulatory agency under any applicable Environmental Laws that could reasonably be expected to have a Material Adverse Effect, (B) any remedial action taken by such Issuer or any of its Restricted Subsidiaries or any other Person of which such Issuer or any of its Restricted Subsidiaries has knowledge in response to (1) any Hazardous Materials Activity the existence of which has a reasonable possibility of resulting in one or more Environmental Claims having, individually or in the aggregate, a Material Adverse Effect or (2) any Environmental Claim that, individually or in the aggregate, has a reasonable possibility of resulting in a Material Adverse Effect and (C) discovery by such Issuer of any occurrence or condition on any real property adjoining or in the vicinity of any Real Estate Facility that reasonably could 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;(iii) as soon as practicable following the sending or receipt thereof by such Issuer or any of its Restricted Subsidiaries, a copy of any and all written communications with respect to (A) any Environmental Claim that, individually or in the aggregate, has a reasonable possibility of giving rise to a Material Adverse Effect, (B) any Release required to be reported by such Issuer or any of its Restricted Subsidiaries to any federal, state or local governmental or regulatory agency that reasonably could be expected to have a Material Adverse Effect, and (C) any request made to such Issuer or any of its Restricted Subsidiaries for information from any governmental agency that suggests such agency is investigating whether such Issuer or any of its Restricted Subsidiaries may be potentially responsible for any Hazardous Materials Activity which is 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;&nbsp;&nbsp;&nbsp;&nbsp;(iv) prompt written notice describing in reasonable detail (A) any proposed acquisition of stock, assets, or property by such Issuer or any of its Restricted Subsidiaries that could reasonably be expected to expose such Issuer or any of its Restricted Subsidiaries to, or result in, Environmental Claims that could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and (B) any proposed action to be taken by such Issuer or any of its Restricted Subsidiaries to modify current operations in a manner that could subject such Issuer or any of its Restricted Subsidiaries to any additional obligations or requirements under any Environmental Law that are reasonably likely 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;(v) with reasonable promptness, such other documents and information as from time to time may be reasonably requested by the Administrative Agent in relation to any matters disclosed pursuant to this <u>Section</u> <u>5.09(a)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Hazardous Materials Activities, Etc</u>. Each Issuer will, and will cause each of its Restricted Subsidiaries to promptly take, any and all actions necessary to (i) cure any violation of applicable Environmental Laws by such Issuer or its Restricted Subsidiaries, and address with appropriate corrective or remedial action any Release or threatened Release of Hazardous Materials at or from any Real Estate Facility, in each case, that could reasonably be expected to have a Material Adverse Effect and (ii) make an appropriate response to any Environmental Claim against such Issuer or any of its Restricted Subsidiaries and discharge any obligations it may have to any Person thereunder, in each case, where failure to do so could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

Section 5.10 <u>Designation of Subsidiaries</u>. The Issuer may at any time after the Closing Date designate any subsidiary as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary; <u>provided</u> that (i) immediately before and after such designation, no Default or Event of Default exists (including after giving effect to the reclassification of Investments in, Indebtedness of and Liens on the assets of, the applicable Restricted Subsidiary or Unrestricted Subsidiary), (ii) the Issuer shall be in compliance with <u>Section</u> <u>6.14</u> calculated on a Pro Forma Basis after giving effect to such designation (and determined as of the most recently ended Test Period at or prior to such time), (iii) no Subsidiary previously designated as an Unrestricted Subsidiary may be re-designated as an Unrestricted Subsidiary, (iv) as of the date of the designation thereof, no Unrestricted Subsidiary shall own any Capital Stock in any Restricted Subsidiary of the Issuer or hold any Indebtedness of or any Lien on any property of the Issuer or its Restricted Subsidiaries, (v) no subsidiary may be designated as an Unrestricted Subsidiary hereunder if it is a Restricted Subsidiary that Guarantees (or is otherwise treated as a "restricted subsidiary" with respect to) any Incremental Facilities, Incremental Equivalent Debt or Indebtedness permitted under <u>Section</u> <u>6.01(q)</u>, <u>6.01(w)</u> or <u>6.01(p)</u> (to the extent relating to Indebtedness initially incurred or pursuant to any of the foregoing, and any subsequent permitted refinancing (or successive permitted refinancing) thereof), in each case above the Threshold Amount and (vi) no Note Party nor any of their Restricted Subsidiaries shall transfer, or grant any exclusive license in respect of, any Material Assets to any Unrestricted Subsidiary (with any such attempted transfer void *ab initio*). The designation of any subsidiary as an Unrestricted Subsidiary shall constitute an Investment by the Issuer therein at the date of designation in an amount equal to the portion of the fair market value of the net assets of such Restricted Subsidiary attributable to the Issuer's equity interest therein as reasonably estimated by the Issuer (and such designation shall only be permitted to the extent such Investment is permitted under <u>Section</u> <u>6.06(x)</u>) and the incurrence at the time of designation of any Investment, Indebtedness or Liens of such Subsidiary existing at such time. The designation of any Unrestricted Subsidiary as a Restricted Subsidiary shall constitute the incurrence or making, as applicable, at the time of designation of any then-existing Investment, Indebtedness or Lien of such Restricted Subsidiary, as applicable; <u>provided</u> that upon a designation of any Unrestricted Subsidiary as a Restricted Subsidiary, the Issuer shall be deemed to continue to have an Investment in the resulting Restricted Subsidiary in an amount (if positive) equal to (a) the applicable Issuer's "Investment" in such Restricted Subsidiary at the time of such re-designation, *less* (b) the portion of the fair market value of the net assets of such Restricted Subsidiary (or, if lower, the actual purchase price or consideration paid for such net assets) directly attributable to such Issuer's equity therein at the time of such re-designation.

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Section 5.11 <u>Use of Proceeds</u>. The Issuer shall use the proceeds of the initial Borrowing on the Closing Date to fund the Refinancing and the Transaction Costs, and use the proceeds of any Borrowing on or after the Closing Date, for any purpose not otherwise prohibited under this Agreement, including for general corporate purposes, working capital needs, the repayment of Indebtedness, the making of Restricted Payments and the making of Investments. No part of the proceeds of any Note will be used, whether directly or indirectly, for any purpose that would entail a violation of Regulation T, U or X.

Section 5.12 <u>Covenant to Guarantee Obligations and Give Security</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Upon (i) the formation or acquisition after the Closing Date of any Restricted Subsidiary, (ii) the designation of any Unrestricted Subsidiary as a Restricted Subsidiary, (iii) any Restricted Subsidiary ceasing to be an Immaterial Subsidiary or (iv) any Restricted Subsidiary that is an Immaterial Subsidiary ceasing to be an Excluded Subsidiary, (x) if the event giving rise to the obligation under this <u>Section</u> <u>5.12(a)</u> occurs during the first three Fiscal Quarters of any Fiscal Year, on or before the date on which financial statements are required to be delivered pursuant to <u>Section</u> <u>5.01(a)</u> for the Fiscal Quarter in which the relevant formation, acquisition, designation or cessation occurred or (y) if the event giving rise to the obligation under this <u>Section</u> <u>5.12(a)</u> occurs during the fourth Fiscal Quarter of any Fiscal Year, on or before the date that is 60 days after the end of such Fiscal Quarter (or, in the cases of <u>clauses (x)</u> and <u>(y)</u>, such longer period as the Administrative Agent may reasonably agree); the Issuer shall (A) cause such Restricted Subsidiary (other than any Excluded Subsidiary), and each Note Party that is a holder of Capital Stock and/or Material Debt Instruments issued by such Restricted Subsidiary, in each case to comply with the requirements set forth in <u>clause (a)</u> of the definition of "Collateral and Guarantee Requirement" and (B) upon the reasonable request of the Administrative Agent, cause the relevant Restricted Subsidiary to deliver to the Administrative Agent a signed copy of a customary opinion of counsel for such Restricted Subsidiary, addressed to the Administrative Agent and the other relevant Secured Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Within 90 days after (i) the Closing Date, with respect to the real property located at 8900 Capital Boulevard, Raleigh NC 27616, and (ii) the acquisition by any Note Party of any Material Real Estate Asset other than any Excluded Asset (or such longer period as the Administrative Agent may reasonably agree), the Issuer shall cause such Note Party to comply with the requirements set forth in <u>clause (b)</u> of the definition of "Collateral and Guarantee Requirement", it being understood and agreed that, with respect to any Material Real Estate Asset owned by any Restricted Subsidiary at the time such Restricted Subsidiary is required to become a Note Party under <u>Section</u> <u>5.12(a)</u>, such Material Real Estate Asset shall be deemed to have been acquired by such Restricted Subsidiary on the first day of the time period within which such Restricted Subsidiary is required to become a Note Party under <u>Section</u> <u>5.12(a)</u>.

Notwithstanding anything to the contrary herein or in any other Notes Document, (i) the Administrative Agent may grant extensions of time for the creation and perfection of security interests in, or obtaining of title insurance, legal opinions, surveys or other deliverables with respect to, particular assets or the provision of any Note Guaranty by any Restricted Subsidiary (in connection with assets acquired, or Restricted Subsidiaries formed or acquired, after the Closing Date) where it reasonably determines, in consultation with the Issuer, that such action cannot be accomplished without undue effort or expense by the time or times at which it would otherwise be required to be accomplished by this Agreement or the Collateral Documents, and each Holder hereby consents to any such extension of time, (ii) any Lien required to be granted from time to time pursuant to the definition of "Collateral and Guarantee Requirement" shall be subject to the exceptions and limitations set forth in the Collateral Documents, (iii) perfection by control shall not be required with respect to assets requiring perfection through control agreements or other control

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arrangements, including deposit accounts, securities accounts and commodities accounts (other than control of pledged Capital Stock and/or Material Debt Instruments), (iv) no Note Party shall be required to seek any landlord lien waiver, bailee letter, estoppel, warehouseman waiver or other collateral access or similar letter or agreement, and notices shall not be required to be sent to account debtors or other contractual third parties, except (x) in the case of any Note Party not incorporated or organized in the U.S. or the U.K., in accordance with the Agreed Guarantee and Security Principles and (y) in all other cases, after the occurrence and continuation of an Event of Default; (v) in no event will the Collateral include any Excluded Assets, (vi) no action shall be required to perfect any Lien with respect to Letter-of-Credit Rights to the extent that a security interest therein cannot be perfected by filing a Form UCC-1 (or similar) financing statement or by execution and delivery by any Note Party of a fixed and floating charge or similar instrument providing for the creation of a security interest in all or substantially all of the assets of such Note Party under the laws of any applicable jurisdiction and (vii) the Administrative Agent shall not require the taking of a Lien on, or require the perfection of any Lien granted in, those assets as to which the cost of obtaining or perfecting such Lien (including any mortgage, stamp, intangibles or other Tax or expenses relating to such Lien) is excessive in relation to the benefit to the Holders of the security afforded thereby as reasonably determined by the Issuer and the Administrative Agent.

Notwithstanding anything to the contrary herein or in any other Notes Document, with respect to any Person not incorporated or organized in the U.S. or the United Kingdom, the requirements of this <u>Section</u> <u>5.12</u> shall be subject to the Agreed Guarantee and Security Principles.

Section 5.13 <u>Holders</u><u> </u><u>Calls</u>. At the reasonable request of the Required Holders, within fifteen (15) Business Days following such request, the Issuer shall hold a conference call each Fiscal Year with all Holders (except Affiliated Holders) who choose to attend such call during which the Issuer shall review the financial results of such Fiscal Year and such other financial or operational matters as the Required Holders may reasonably request in advance of such call; provided, that it is understood and agreed that such calls may include material non-public information with respect to Indivior PLC<u>any Applicable Reporting Company,</u> the Issuer or their respective subsidiaries and any Public Holder shall cease to be a Public Holder to the extent it attends any such conference call.

Section 5.14 <u>Center of Main Interests</u>. Each Note Party whose Original Jurisdiction is a member state of the European Union as at the date it executes this Agreement or becomes a Note Party pursuant to <u>Section</u> <u>5.12</u> or <u>Section</u> <u>5.16</u>, shall (a) take no action which would result in it changing its center of main interest (as that term is used in Article 3(1) of the COMI Regulation) from that of its Original Jurisdiction and (b) create no "establishment" (as that term is defined in Article 2(10) of the COMI Regulation in any other jurisdiction.

Section 5.15 <u>Further Assurances</u>. Promptly upon request of the Administrative Agent and subject to the limitations described in <u>Section</u> <u>5.12</u> (and in the case of any Note Party not incorporated or organized in the U.S. or the United Kingdom, subject to the Agreed Guarantee and Security Principles):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Issuer will, and will cause each other Note Party to, execute any and all further documents, financing statements, agreements, instruments, certificates, notices and acknowledgments and take all such further actions (including the filing and recordation of financing statements, fixture filings, Mortgages and/or amendments thereto and other documents), that may be required under any applicable law or which the Administrative Agent may request to ensure the creation, perfection and priority of the Liens created or intended to be created under the Collateral Documents, all at the expense of the relevant Note 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;(b) The Issuer will, and will cause each other Note Party to, (i) correct any material defect or error that may be discovered in the execution, acknowledgment, filing or recordation of any Collateral Document or other document or instrument relating to any Collateral and (ii) do, execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such further acts (including notices to third parties), deeds, certificates, assurances and other instruments as the Administrative Agent may reasonably request from time to time in order to carry out more effectively the purposes of the Collateral Documents.

Section 5.16 <u>Certain Post-Closing Events</u>. The Issuer will, and will cause each other Note Party to complete each of the actions described on <u>Schedule 5.16</u> by no later than the date set forth in <u>Schedule 5.16</u> with respect to such action or such later date as the Administrative Agent may reasonably agree. All conditions precedent, covenants and representations and warranties contained in this Agreement and the other Notes Documents shall be deemed modified to the extent necessary to effect the foregoing (and to permit the taking of the actions described on Schedule 5.16 within the time periods required by this Section 5.16, rather than as elsewhere provided in the Notes Documents).

<u>Section</u> <u>5.17</u> <u>Pensions</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except in relation to any arrangement which provides benefits on death which are wholly insured, the Reckitt Benckiser Pension Fund, the London International Group UK Pension Scheme, the Scholl Pension Plan, and the Seton Healthcare Group plc Pension and Life Assurance Scheme*,* the Issuer shall ensure that no Parent Company or subsidiary thereof is an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004) of any UK registered occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pension Schemes Act 1993) or, to the extent such connection or association has or may be likely to have a Material Adverse Effect, "connected" with or an "associate" of (as those terms are used in sections 38 or 43 of the Pensions Act 2004) such an employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Issuer shall immediately notify the Administrative Agent of (i) any investigation by the Pensions Regulator which may lead to the issue of a Financial Support Direction or a Contribution Notice and (ii) the issue of a Financial Support Direction or a Contribution Notice to it, to any Parent Company or any subsidiary thereof.

Section 5.18 <u>Financial Assistance</u>. Each Note Party will comply (and will ensure that each Parent Company and each subsidiary thereof complies) in all respects with sections 678 and 679 of the Companies Act 2006 and any equivalent legislation in other jurisdictions (including, in respect of any Note Party which is registered in Ireland, section 82 of the Companies Act 2014 of Ireland) including in relation to the execution of the Collateral Documents and payment of amounts due under this Agreement.

<u>Section</u> <u>5.19</u> <u>Quoted</u> <u>Eurobond Listing</u>.

From and after the earlier of (i) the Quoted Eurobond Listing Date and (ii) December 31, 2024, the Note Parties shall maintain the Quoted Eurobond Listing at all times during the term of this Agreement.

ARTICLE 6

NEGATIVE COVENANTS

From the Closing Date and until the Termination Date has occurred, each of Holdings and each Issuer (and, with respect to <u>Section</u> <u>6.15</u> only, Holdings only) covenants and agrees with the Holders that:

Section 6.01<u> </u><u>Indebtedness</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, assume or otherwise become or remain liable with respect to any Indebtedness, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Secured Obligations (including any Additional Term Notes and any Additional Variable Notes);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Indebtedness of the Issuer to any Restricted Subsidiary and/or of any Restricted Subsidiary to the Issuer or any other Restricted Subsidiary; <u>provided</u> that in the case of any Indebtedness of any Restricted Subsidiary that is not a Note Party owing to a Note Party, such Indebtedness shall be permitted as an Investment by <u>Section</u> <u>6.06</u>; <u>provided</u> <u>further</u> that any Indebtedness of any Note Party to any Restricted Subsidiary that is not a Note Party must be expressly subordinated to the Obligations of such Note Party on terms that are reasonably acceptable to the Administrative Agent (it being understood that the subordination provisions in the Global Intercompany Note are acceptable to the Administrative Agent);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Indebtedness of the Issuer and/or any other Restricted Subsidiary in respect of letter of credit facilities and reimbursement obligations in respect thereof in an aggregate amount not to exceed $25,000,000 at any time outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Indebtedness arising from any agreement providing for indemnification, adjustment of purchase price or similar obligations (including contingent earn-out obligations) incurred in connection with any Disposition permitted hereunder, any acquisition permitted hereunder or consummated prior to the Closing Date or any other purchase of assets or Capital Stock, and Indebtedness arising from guaranties, letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments securing the performance of the Issuer or any such Restricted Subsidiary pursuant to any such agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Indebtedness of the Issuer and/or any Restricted Subsidiary (i) pursuant to tenders, statutory obligations, bids, leases, governmental contracts, trade contracts, surety, stay, customs, appeal, performance and/or return of money bonds or other similar obligations incurred in the ordinary course of business and (ii) in respect of letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments to support any of the foregoing items;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Indebtedness of the Issuer and/or any Restricted Subsidiary in respect of commercial credit cards, stored value cards, purchasing cards, treasury management services, netting services, overdraft protections, check drawing services, automated payment services (including depository, overdraft, controlled disbursement, ACH transactions, return items and interstate depository network services), employee credit card programs, cash pooling services and any arrangements or services similar to any of the foregoing and/or otherwise in connection with Cash management and Deposit Accounts, including Banking Services Obligations and dealer incentive, supplier finance or similar programs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) (i) guaranties by the Issuer and/or any Restricted Subsidiary of the obligations of suppliers, customers and licensees in the ordinary course of business, (ii) Indebtedness incurred in the ordinary course of business in respect of obligations of the Issuer and/or any Restricted Subsidiary to pay the deferred purchase price of goods or services or progress payments in connection with such goods and services and (iii) Indebtedness in respect of letters of credit, bankers' acceptances, bank guaranties or similar instruments supporting trade payables, warehouse receipts or similar facilities entered into 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;(h) Guarantees by the Issuer and/or any Restricted Subsidiary of Indebtedness or other obligations of the Issuer, any Restricted Subsidiary and/or any joint venture with respect to Indebtedness otherwise permitted to be incurred pursuant to this <u>Section</u> <u>6.01</u> or other obligations not prohibited by this Agreement; <u>provided</u> that in the case of any Guarantee by any Note Party of the obligations of any non-Note Party, the related Investment is permitted under <u>Section</u> <u>6.06</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;(i) Indebtedness of the Issuer and/or any Restricted Subsidiary existing, or pursuant to commitments existing, on the Closing Date and described on <u>Schedule 6.01</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Indebtedness of Restricted Subsidiaries that are not Note Parties; <u>provided</u> that the aggregate outstanding principal amount of such Indebtedness, taken together with all Investments made under <u>clause (b)(ii)(A)</u> of the definition of Permitted Acquisitions shall not exceed the greater of (i) $145,000,000 and (ii) 40.0% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Indebtedness of the Issuer and/or any Restricted Subsidiary consisting of obligations owing under incentive, supply, license or similar agreements entered into 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;(l) Indebtedness of the Issuer and/or any Restricted Subsidiary consisting of (i) the financing of insurance premiums in the ordinary course of business, (ii) take-or-pay obligations contained in supply arrangements in the ordinary course of business and/or (iii) obligations to reacquire assets or inventory in connection with customer financing arrangements 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;(m) Indebtedness of the Issuer and/or any Restricted Subsidiary with respect to Capital Leases and purchase money Indebtedness incurred prior to or within 270 days of the acquisition, lease, completion of construction, repair of, replacement, improvement to or installation of assets acquired in connection with the incurrence of such Indebtedness in an aggregate outstanding principal amount not to exceed the greater of (i) $100,000,000 and (ii) 30.0% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) [Reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Indebtedness consisting of unsecured subordinated promissory notes in form and substance reasonably satisfactory to the Administrative Agent issued by the Issuer or any Restricted Subsidiary to any stockholder of any Parent Company or any current or former director, officer, employee, member of management, manager or consultant of any Parent Company, Issuer or any subsidiary (or their respective Immediate Family Members) and not guaranteed by any Subsidiary of Holdings to finance the purchase or redemption of Capital Stock of any Parent Company permitted by <u>Section</u> <u>6.04(a)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) each Issuer and its Restricted Subsidiaries may become and remain liable for any Indebtedness refinancing, refunding or replacing any Indebtedness permitted under <u>clauses</u> <u>(a)</u>, <u>(i)</u>, <u>(j)</u>, <u>(m)</u>, <u>(q)</u>, <u>(r)</u>, <u>(u)</u>, <u>(v)</u>, <u>(w)</u>, <u>(y)</u> and <u>(z)</u> of this <u>Section</u> <u>6.01</u> (in any case, including any refinancing Indebtedness incurred in respect thereof, "**Refinancing Indebtedness**") and any subsequent Refinancing Indebtedness in respect thereof; <u>provided</u> that (i) the principal amount of such Indebtedness does not exceed the principal amount of the Indebtedness being refinanced, refunded or replaced, except by (A) an amount equal to unpaid accrued interest and premiums (including tender premiums) thereon *plus* underwriting discounts, other reasonable and customary fees, commissions and expenses (including upfront fees, original issue discount or initial yield payments) incurred in connection with the relevant refinancing, refunding or replacement, (B) an amount equal to any existing commitments unutilized thereunder and (C) additional amounts permitted to be incurred pursuant to this <u>Section</u> <u>6.01</u> (<u>provided</u> that (1) any additional Indebtedness referenced in this <u>clause</u> <u>(C)</u> satisfies the other applicable requirements of this definition (with additional amounts incurred in reliance on this <u>clause</u> <u>(C)</u> constituting a utilization of the relevant basket or exception under <u>Section</u> <u>6.01</u> pursuant to which such additional amount is permitted) and (2) if such additional Indebtedness is secured, the Lien securing such Indebtedness satisfies the applicable requirements of <u>Section</u> <u>6.02</u> and constitutes a utilization of the relevant basket or exception), (ii) other than in the case of Refinancing Indebtedness with respect to <u>clause</u> <u>(i)</u>, <u>(m)</u> or <u>(u)</u>, (A) such Indebtedness has a

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final maturity on or later than (and, in the case of revolving Indebtedness, does not require mandatory commitment reductions, if any, prior to) the final maturity of the Indebtedness being refinanced, refunded or replaced and (B) other than with respect to revolving Indebtedness, such Indebtedness has a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of the Indebtedness being refinanced, refunded or replaced, (iii) the terms of any Refinancing Indebtedness with an original principal amount in excess of the Threshold Amount (excluding pricing, fees, premiums, rate floors, optional prepayment or redemption terms (and, if applicable, subordination terms) and, with respect to Refinancing Indebtedness incurred in respect of Indebtedness permitted under <u>clause</u> <u>(a)</u> above, security), are not, taken as a whole (as reasonably determined by the Issuer), more favorable to the Holders providing such Indebtedness than those applicable to the Indebtedness being refinanced, refunded or replaced (other than any covenants or any other provisions applicable only to periods after the Latest Maturity Date as of such date or any covenants or provisions which are then-current market terms for the applicable type of Indebtedness), (iv) in the case of Refinancing Indebtedness with respect to Indebtedness permitted under <u>clauses</u> <u>(j)</u>, <u>(m)</u>, <u>(u)</u> and (<u>y)</u> of this <u>Section</u> <u>6.01</u>, the incurrence thereof shall be without duplication of any amounts outstanding in reliance on the relevant clause (and such Refinancing Indebtedness shall be deemed to be outstanding under such clause for purposes of determining compliance therewith), (v) except in the case of Refinancing Indebtedness incurred in respect of Indebtedness permitted under <u>clause</u> <u>(a)</u> of this <u>Section</u> <u>6.01</u> (it being understood that Holdings may not be the primary obligor of the applicable Refinancing Indebtedness if Holdings was not the primary obligor on the relevant refinanced Indebtedness), (A) such Indebtedness is secured only by Permitted Liens securing the Indebtedness being refinanced, refunded or replaced at the time of such refinancing, refunding or replacement (it being understood that secured Indebtedness may be refinanced with unsecured Indebtedness), (B) such Indebtedness is incurred by the obligor or obligors in respect of the Indebtedness being refinanced, refunded or replaced, except to the extent otherwise permitted pursuant to <u>Section</u> <u>6.01</u> and (C) if the Indebtedness being refinanced, refunded or replaced was originally contractually subordinated to the Obligations in right of payment (or the Liens securing such Indebtedness were originally contractually subordinated to the Liens on the Collateral securing the Secured Obligations), such Indebtedness is contractually subordinated to the Obligations in right of payment (or the Liens securing such Indebtedness are subordinated to the Liens on the Collateral securing the Secured Obligations) on terms not materially less favorable (as reasonably determined by the Issuer), taken as a whole, to the Holders than those applicable to the Indebtedness (or Liens, as applicable) being refinanced, refunded or replaced, taken as a whole, (vi) except in the case of Refinancing Indebtedness with respect to <u>clause</u> <u>(a)</u> of this <u>Section</u> <u>6.01</u>, as of the date of the incurrence of such Indebtedness and after giving effect thereto, no Event of Default exists, (vii) in the case of Refinancing Indebtedness incurred in respect of Indebtedness permitted under <u>clause</u> <u>(a)</u> of this <u>Section</u> <u>6.01</u>, (A) such Indebtedness shall rank *pari passu* or junior in right of payment and shall be secured by all or portion of the Collateral on a *pari passu* or junior basis with respect to the remaining Obligations hereunder, or shall be unsecured; <u>provided</u> that any such Indebtedness that ranks *pari passu* or junior with respect to the Collateral shall be subject to a Permitted Pari Passu Intercreditor Agreement or a Permitted Junior Intercreditor Agreement, as applicable, (B) if the Indebtedness being refinanced, refunded or replaced is secured, it is not secured by any assets other than the Collateral (but need not be secured by all such assets), (C) if the Indebtedness being refinanced, refunded or replaced is guaranteed, it shall not be guaranteed by any Person other than a Note Party (but need not be guaranteed by all such Persons), (D) such Indebtedness is incurred under (and pursuant to) documentation other than this Agreement, (E) any such Indebtedness that ranks *pari passu* with the Initial Term Notes hereunder in right of payment and secured by all or a portion of the Collateral on a *pari passu* basis with respect to the Secured Obligations hereunder that are secured on a first lien basis may participate on a pro rata basis or a less than pro rata basis (but not greater than a pro rata basis) in any voluntary or mandatory prepayment in respect of the Initial Term Notes (and any Additional Term Notes then subject to ratable repayment requirements), in each case as the applicable Issuer and the relevant Holder may agree and (F) the Indebtedness being refinanced, refunded or replaced shall be repaid, defeased or satisfied and discharged, and all accrued interest, fees and premiums (if any) in connection therewith, shall be paid, in each case substantially concurrently with the issuance of such Refinancing Indebtedness and (viii) no Issuer nor any of its Restricted Subsidiaries may refinance any Indebtedness incurred by an Unrestricted Subsidiary pursuant to this clause;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Indebtedness of any Person that becomes a Restricted Subsidiary for Indebtedness assumed in connection with an acquisition permitted hereunder after the Closing Date in an aggregate amount not to exceed the greater of (i) $85,000,000 and (ii) 25.0% of Consolidated Adjusted EBITDA for the Test Period then most recently ended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) so long as no Material Event of Default has occurred and is continuing, without duplication of clause (v) below, unsecured Indebtedness of the Issuer and/or Restricted Subsidiary in an aggregate outstanding principal amount not to exceed 100% of the amount of Net Proceeds received by the Issuer (an "**Excluded Debt Contribution**") from (i) the issuance or sale of Qualified Capital Stock or (ii) any cash contribution to its common equity with the Net Proceeds from the issuance and sale by any Parent Company of its Qualified Capital Stock or a contribution to the common equity of any Parent Company, in each case, (A) other than any Net Proceeds received from the sale of Capital Stock to, or contributions from, the Issuer or any of its Restricted Subsidiaries and (B) to the extent the relevant Net Proceeds have not otherwise been applied to make Investments, Restricted Payments or Restricted Debt Payments hereunder; <u>provided</u>, <u>however</u>, that such unsecured Indebtedness shall be incurred within 180 days after such issuance or cash contribution described in <u>clauses (i)</u> and <u>(ii)</u> above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) Indebtedness of the Issuer and/or any Restricted Subsidiary under any Derivative Transaction not entered into for speculative purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) Indebtedness in connection with Permitted Securitization Financings in an aggregate principal amount not to exceed the greater of (i) $85,000,000 and (ii) 25.0% of Consolidated Adjusted EBITDA for the Test Period then most recently ended, in either case, at any one time outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) so long as no Material Event of Default has occurred and is continuing, Indebtedness of any Note Party in an aggregate outstanding principal amount not to exceed the greater of (i) $100,000,000 and (ii) 30.0% of Consolidated Adjusted EBITDA for the Test Period then most recently ended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) so long as no Material Event of Default has occurred and is continuing, unsecured Indebtedness in an amount not to exceed the portion of the Available Excluded Contribution Amount on such date that the Issuer elect to apply to this clause 6.01(v) to the extent such amount has not otherwise been applied to make Investments, Restricted Payments or Restricted Debt Payments hereunder; <u>provided</u>, <u>however</u>, that such unsecured Indebtedness shall be incurred within 180 days after receipt of the proceeds or contribution being designated as included with the Available Excluded Contribution Amount;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) [reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) Indebtedness consisting of Replacement Term Notes or any Replacement Variable Note, in each case to the extent permitted under <u>Section</u> <u>9.02(c)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) Indebtedness of the Issuer and/or any Restricted Subsidiary incurred in connection with Sale and Lease-Back Transactions permitted pursuant to <u>Section</u> <u>6.08</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) so long as no Material Event of Default has occurred and is continuing, secured or unsecured notes and/or loans (and/or commitments in respect thereof) issued or incurred by the Issuer in lieu of Incremental Notes (such notes or loans, "**Incremental Equivalent Debt**"); <u>provided</u> that (i) the aggregate outstanding principal amount (or committed amount, if applicable) of all Incremental Equivalent

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Debt, together with the aggregate outstanding principal amount (or committed amount, if applicable) of all Incremental Notes and Incremental Commitments provided pursuant to <u>Section</u> <u>2.22</u>, shall not exceed the Incremental Cap, (ii) any Incremental Equivalent Debt shall be subject to <u>clauses (vi)</u>, <u>(vii)</u>, <u>(ix)</u> and <u>(x)</u> (except, in the case of <u>clause (x)</u>, as otherwise agreed by the Persons providing such Incremental Equivalent Debt) and <u>(xvi)(A)</u> of the proviso to <u>Section</u> <u>2.22(a)</u>, (iii) any Incremental Equivalent Debt that is secured shall be secured only by all or a portion of the Collateral and on a *pari passu* or junior basis with all or a portion of the Collateral securing the Secured Obligations (but need not be secured by all such assets), (iv) any Incremental Equivalent Debt that rank *pari passu* with the Initial Term Notes in right of payment and with respect to security shall be subject to the "MFN" provision in <u>Section</u> <u>2.22(a)(v)</u> (the terms of which are incorporated into this clause (z), *mutatis mutandis*), (v) any Incremental Equivalent Debt that ranks *pari passu* in right of security with the Secured Obligations shall be subject to a Permitted Pari Passu Intercreditor Agreement; (vi) any Incremental Equivalent Debt that is secured by a lien that ranks junior in right of security to the Secured Obligations shall be subject to a Permitted Junior Intercreditor Agreement, (vii) any Incremental Equivalent Debt that is subordinated in right of payment shall be subject to subordination arrangements reasonably satisfactory to the Administrative Agent; (viii) no Incremental Equivalent Debt may be guaranteed by any Person that is not a Note Party (but need not be guaranteed by all such Persons); (ix) except as otherwise required or permitted in <u>clauses</u> <u>(i)</u> through <u>(viii)</u> above, all other terms of any Incremental Equivalent Debt, if not the same as the terms of the Initial Term Notes, shall be reasonably satisfactory to the Issuer and the Administrative Agent (it being understood that any terms which are not consistent with the terms of the Initial Term Notes and are applicable only after the then-existing Latest Term Note Maturity Date are deemed to be reasonably acceptable to the Administrative Agent);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) Indebtedness (including obligations in respect of letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments with respect to such Indebtedness) incurred by the Issuer and/or any Restricted Subsidiary in respect of workers compensation claims, unemployment insurance (including premiums related thereto), other types of social security, pension obligations, vacation pay, health, disability or other employee benefits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) Indebtedness of the Issuer and/or any Restricted Subsidiary representing (i) deferred compensation to directors, officers, employees, members of management, managers, and consultants of any Parent Company, the Issuer and/or any Restricted Subsidiary in the ordinary course of business and (ii) deferred compensation or other similar arrangements in connection with the Transactions, any Permitted Acquisition or any other Investment permitted hereby;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) [reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) [reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) unfunded pension fund and other employee benefit plan obligations and liabilities incurred by the Issuer and/or any Restricted Subsidiary in the ordinary course of business to the extent that the unfunded amounts would not otherwise cause an Event of Default under <u>Section</u> <u>7.01(i)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) to the extent constituting Indebtedness and without duplication of any other Indebtedness, all premiums (if any), interest (including post-petition interest and payment in kind interest), accretion or amortization of original issue discount, fees, expenses and charges with respect to Indebtedness of the Issuer and/or any Restricted Subsidiary hereunder; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg) customer deposits and advance payments received in the ordinary course of business from customers for goods and services purchased in the ordinary course of business.

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Notwithstanding anything contained herein to the contrary, no Note Party shall be permitted to create, incur, assume, guarantee or otherwise become or remain directly or indirectly liable with respect to any Indebtedness that is, from or of, either (a) a Non-Note Party or (b) an Unrestricted Subsidiary (such creation, incurrence, assumption or guaranty being referred to as "<u>Non-Note Party Indebtedness of Note Parties</u>"), in each case, to the extent that the structuring of any claims with respect to any Indebtedness created, assumed, incurred or guaranteed by such Note Parties, together with any Non-Note Party Indebtedness of Note Parties, could reasonably be expected to result in two or more bankruptcy claims against the same Note Party or a double claim for direct and indirect obligations against the same Note Party, arising from one transaction or series of transactions relating to the same underlying Non-Note Party Indebtedness of Note Parties.

Notwithstanding anything to the contrary set forth herein, this <u>Section</u> <u>6.01</u> is subject to the provisions set forth in <u>Section</u> <u>1.03(b)</u>.

Section 6.02 <u>Liens</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, create, incur, assume or permit or suffer to exist any Lien on or with respect to any property of any kind owned by it, whether now owned or hereafter acquired, or any income or profits therefrom, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Liens securing the Secured Obligations created pursuant to the Notes Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Liens for Taxes which are (i) for amounts not yet overdue for more than 30 days or (ii) being contested in accordance with <u>Section</u> <u>5.03(a)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) statutory Liens (and rights of set-off) of landlords, banks, carriers, warehousemen, mechanics, repairmen, workmen and materialmen, and other Liens imposed by law, in each case incurred in the ordinary course of business (i) for amounts not yet overdue by more than 30 days or (ii) for amounts that are overdue by more than 30 days and that are being contested in good faith by appropriate proceedings, so long as adequate reserves or other appropriate provisions required by GAAP shall have been made for any such contested amounts;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Liens incurred (i) in the ordinary course of business in connection with workers' compensation, unemployment insurance and other types of social security laws and regulations, (ii) in the ordinary course of business to secure the performance of tenders, statutory obligations, surety, stay, customs and appeal bonds, bids, leases, government contracts, trade contracts, performance and return-of-money bonds and other similar obligations (exclusive of obligations for the payment of borrowed money), (iii) pursuant to pledges and deposits of Cash or Cash Equivalents in the ordinary course of business securing (x) any liability for reimbursement or indemnification obligations of insurance carriers providing property, casualty, liability or other insurance to the Issuer and their subsidiaries or (y) leases or licenses of property otherwise permitted by this Agreement and (iv) to secure obligations in respect of letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments posted with respect to the items described in <u>clauses (i)</u> through <u>(iii)</u> above;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Liens consisting of easements, rights-of-way, restrictions, encroachments, and other minor defects or irregularities in title, in each case which do not, in the aggregate, materially interfere with the ordinary conduct of the business of the Issuer and/or their Restricted Subsidiaries, taken as a whole, or the use of the affected property for its intended purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Liens consisting of any (i) interest or title of a lessor or sub-lessor under any lease of real estate permitted hereunder, (ii) landlord lien permitted by the terms of any lease, (iii) restriction or encumbrance to which the interest or title of such lessor or sub-lessor may be subject or (iv) subordination of the interest of the lessee or sub-lessee under such lease to any restriction or encumbrance referred to in the preceding <u>clause (iii)</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;(g) Liens solely on any Cash earnest money deposits made by the Issuer and/or any of its Restricted Subsidiaries in connection with any letter of intent or purchase agreement with respect to any Investment permitted hereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) purported Liens evidenced by the filing of precautionary UCC financing statements relating solely to operating leases or consignment or bailee arrangements entered into 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;(i) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Liens in connection with any zoning, building or similar law or right reserved to or vested in any Governmental Authority to control or regulate the use of any or dimensions of real property or the structure thereon;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Liens securing Indebtedness permitted pursuant to <u>Section</u> <u>6.01(p)</u> (solely with respect to the permitted refinancing of Indebtedness permitted pursuant to <u>Sections</u> <u>6.01(a)</u>, <u>(i)</u>, <u>(j)</u>, <u>(m)</u>, <u>(q)</u>, <u>(u)</u>, (v), <u>(w)</u> and <u>(z)</u>, in each case, so long as such Indebtedness is secured by Liens permitted under this <u>Section</u> <u>6.02</u> (other than this clause (k)); <u>provided</u> that (i) no such Lien extends to any asset not covered by the Lien securing the Indebtedness that is being refinanced, (ii) if the Indebtedness being refinanced was subject to intercreditor arrangements, then any refinancing Indebtedness in respect thereof shall be subject to intercreditor arrangements not materially less favorable to the Secured Parties, taken as a whole, than the intercreditor arrangements governing the Indebtedness that is refinanced or the intercreditor arrangements governing the relevant refinancing Indebtedness shall be otherwise reasonably acceptable to the Administrative Agent and (iii) any such Liens shall count towards any basket pursuant to which the applicable refinanced Lien was justified when originally incurred;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Liens described on <u>Schedule</u> <u>6.02</u> and any modification, replacement, refinancing, renewal or extension thereof; <u>provided</u> that (i) no such Lien extends to any additional property other than (A) after-acquired property that is affixed or incorporated into the property covered by such Lien or financed by Indebtedness permitted under <u>Section</u> <u>6.01</u> and (B) proceeds and products thereof, accessions thereto and improvements thereon (it being understood that individual financings of the type permitted under <u>Section</u> <u>6.01(m)</u> provided by any lender may be cross-collateralized to other financings of such type provided by such lender or its affiliates) and (ii) such modification, replacement, refinancing, renewal or extension of the obligations secured or benefited by such Liens, if constituting Indebtedness, is permitted by <u>Section</u> <u>6.01</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) Liens arising out of Sale and Lease-Back Transactions permitted under <u>Section</u> <u>6.08</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) Liens securing Indebtedness permitted pursuant to <u>Section</u> <u>6.01(m)</u>; <u>provided</u> that any such Lien shall encumber only the asset acquired with the proceeds of such Indebtedness and proceeds and products thereof, accessions thereto and improvements thereon (it being understood that individual financings of the type permitted under <u>Section</u> <u>6.01(m)</u> provided by any lender may be cross-collateralized to other financings of such type provided by such lender or its affiliates);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Liens securing Indebtedness incurred pursuant to <u>Section</u> <u>6.01(q)</u>; <u>provided</u> that, with respect to any such Liens on all or any portion of the Collateral, such Liens shall rank *pari passu* with, or junior to, the Liens securing the Secured Obligations pursuant to a Permitted Pari Passu Intercreditor Agreement or Permitted Junior Intercreditor Agreement, as applicable; <u>provided</u>, <u>further</u>, that with respect to Liens securing Indebtedness of Persons that become, or Indebtedness assumed by, a Restricted Subsidiary, no such Lien (x) extends to or covers any other assets (other than the proceeds or products thereof, accessions or additions thereto and improvements thereon) or (y) was created in contemplation of the applicable acquisition of assets or Capital Stock;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Liens (i) that are contractual rights of set-off or netting relating to (A) the establishment of depositary relations with banks not granted in connection with the issuance of Indebtedness, (B) pooled deposit or sweep accounts of the Issuer and/or any Restricted Subsidiary to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Issuer and/or any Restricted Subsidiary, (C) purchase orders and other agreements entered into with customers of the Issuer and/or any Restricted Subsidiary in the ordinary course of business and (D) commodity trading or other brokerage accounts incurred in the ordinary course of business and (ii) encumbering reasonable customary initial deposits and margin deposits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Liens on assets and Capital Stock of Restricted Subsidiaries that are not Note Parties (other than Capital Stock owned directly by any Note Party) securing Indebtedness of Restricted Subsidiaries that are not Note Parties permitted pursuant to <u>Section</u> <u>6.01</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) Liens securing obligations (other than obligations representing Indebtedness for borrowed money) under operating, reciprocal easement or similar agreements entered into in the ordinary course of business of the Issuer and/or its Restricted Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) Liens disclosed in any Mortgage Policy delivered pursuant to <u>Section</u> <u>5.12(b)</u> with respect to any Material Real Estate Asset and any replacement, extension or renewal of any such Lien; <u>provided</u> that (i) no such replacement, extension or renewal Lien shall cover any property other than the property that was subject to such Lien prior to such replacement, extension or renewal (and additions thereto, improvements thereon and the proceeds thereof) and (ii) such Liens do not, in the aggregate, materially interfere with the ordinary conduct of the business of the Issuer and/or its Restricted Subsidiaries, taken as a whole, or the use of the affected property for its intended purpose;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) Liens securing Indebtedness incurred pursuant to <u>Section</u> <u>6.01(z)</u>, so long as the conditions described therein are satisfied;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) other Liens on assets securing Indebtedness or other obligations in an aggregate principal amount at any time outstanding not to exceed the greater of (i) $100,000,000 and (ii) 30.0% of Consolidated Adjusted EBITDA for the Test Period then most recently ended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Liens on assets securing judgments, awards, attachments and/or decrees and notices of *lis pendens* and associated rights relating to litigation being contested in good faith not constituting an Event of Default under <u>Section</u> <u>7.01(h)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) 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 Issuer and their Restricted Subsidiaries (other than any Immaterial Subsidiary) or (ii) secure any Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) Liens on Securities that are the subject of repurchase agreements constituting Investments permitted under <u>Section</u> <u>6.06</u> arising out of such repurchase transaction;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) Liens securing obligations in respect letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments permitted under <u>Section</u> <u>6.01(d)</u>, <u>(e)</u>, <u>(g)(iii)</u>, <u>(aa)</u> and <u>(cc)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) Liens arising (i) out of conditional sale, title retention, consignment or similar arrangements for the sale of any assets or property in the ordinary course of business and permitted by this Agreement or (ii) by operation of law under Article 2 of the UCC (or similar law of any jurisdiction);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) Liens (i) in favor of any Note Party and/or (ii) granted by any non-Note Party in favor of any Restricted Subsidiary that is not a Note Party, in the case of each of <u>clauses (i)</u> and <u>(ii)</u>, securing intercompany Indebtedness permitted under <u>Section</u> <u>6.01</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(cc)</u> Liens on specific items of inventory or other goods and the proceeds thereof securing the relevant Person's obligations in respect of documentary letters of credit or banker's acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or goods;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(dd) Liens on cash collateral securing (i) obligations under Hedge Agreements in connection with any Derivative Transaction of the type described in <u>Section</u> <u>6.01(s)</u> and/or (ii) obligations of the type described in <u>Section</u> <u>6.01(f)</u>, in each case, to the extent such obligations do not constitute Secured Obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ee) (i) Liens on Capital Stock of joint ventures or Unrestricted Subsidiaries securing capital contributions to, or obligations of, such Persons and (ii) customary rights of first refusal and tag, drag and similar rights in joint venture agreements and agreements with respect to non-Wholly-Owned Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ff) Liens on cash or Cash Equivalents arising in connection with the permitted defeasance, discharge or redemption of Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(gg) Liens evidenced by the filing of UCC financing statements relating to factoring or similar arrangements entered into 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;(hh) Liens in respect of Permitted Securitization Financings that extend only to Securitization Assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Liens securing Indebtedness permitted pursuant to <u>Section</u> <u>6.01(c)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(jj) Liens securing Indebtedness incurred in reliance on <u>Section</u> <u>6.01(w)</u> so long as the condition described in <u>clause (A)</u> or <u>clause (B)</u>, as applicable, of <u>Section</u> <u>6.01(w)</u> has been satisfied, in each case, provided that no Lien shall be permitted to be created over any Material Asset other than pursuant to a Collateral Document to secure the Secured Obligations or any Indebtedness incurred in accordance with <u>Section</u> <u>6.01(x)</u> or <u>(z)</u>.

Notwithstanding anything to the contrary set forth herein, this <u>Section</u> <u>6.02</u> is subject to the provisions set forth in <u>Section</u> <u>1.03(b)</u>.

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Section 6.03 <u>No Further Negative Pledges</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, enter into any agreement prohibiting the creation or assumption of any Lien upon any of its properties, whether now owned or hereafter acquired, for the benefit of the Secured Parties with respect to the Secured Obligations (each, a "**Negative Pledge**"), except with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) specific property to be sold pursuant to any Disposition permitted by <u>Section</u> <u>6.07</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) restrictions contained in any agreement with respect to Indebtedness permitted by <u>Section</u> <u>6.01</u> that is secured by a Permitted Lien, but only if such restrictions apply only to the Person or Persons obligated under such Indebtedness and its or their Restricted Subsidiaries or the property or assets securing such Indebtedness;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) restrictions by reason of customary provisions restricting assignments, subletting or other transfers (including the granting of any Lien) contained in leases, subleases, licenses, sublicenses and other agreements entered into in the ordinary course of business (<u>provided</u> that such restrictions are limited to the relevant leases, subleases, licenses, sublicenses or other agreements and/or the property or assets secured by such Liens or the property or assets subject to such leases, subleases, licenses, sublicenses or other agreements, 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;(d) Permitted Liens and restrictions in the agreements relating thereto that limit the right of the Issuer or any of its Restricted Subsidiaries to Dispose of, or encumber the assets subject to such Liens;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) provisions limiting the Disposition or distribution of assets or property in joint venture agreements, sale-leaseback agreements, stock sale agreements and other similar agreements, which limitation is applicable only to the assets that are the subject of such agreements (or the Persons the Capital Stock of which is the subject of such agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) any encumbrance or restriction assumed in connection with an acquisition of the property or Capital Stock of any Person, so long as such encumbrance or restriction relates solely to the property so acquired (or to the Person or Persons (and its or their subsidiaries) bound thereby) and was not created in connection with or in anticipation of such acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) restrictions imposed by customary provisions in partnership agreements, limited liability company organizational governance documents, joint venture agreements and other similar agreements, in each case, with respect to Restricted Subsidiaries that are not Wholly-Owned Subsidiaries of the Issuer, that restrict the transfer of the assets of, or ownership interests in, the relevant partnership, limited liability company, joint venture or any similar Person;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) restrictions on Cash or other deposits imposed by Persons under contracts entered into in the ordinary course of business or for whose benefit such Cash or other deposits exist;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) restrictions set forth in documents which exist on the Closing Date (other than, following the Closing Date, documents related to the Existing Credit Agreement);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) restrictions set forth in any Notes Document, any Hedge Agreement and/or any agreement relating to any Banking Services Obligation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) restrictions contained in documents governing Indebtedness permitted hereunder of any Restricted Subsidiary that is not a Note Party; 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;(l) other restrictions or encumbrances imposed by any amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing of the contracts, instruments or obligations referred to in <u>clauses (a)</u> through <u>(k)</u> above; <u>provided</u> that no such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing is, in the good faith judgment of the Issuer, more restrictive with respect to such encumbrances and other restrictions, taken as a whole, than those in effect prior to the relevant amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing, in each case, provided that no Negative Pledge shall be permitted to be created over any Material Asset other than pursuant to a Collateral Document to secure the Secured Obligations or pursuant to the terms of any Indebtedness incurred in accordance with <u>Section</u> <u>6.01(x)</u> or <u>(z)</u>.

Section 6.04 <u>Restricted Payments; Certain Payments of Indebtedness</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) No Issuer shall pay or make, directly or indirectly, any Restricted Payment, except 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;(i) the Issuer may make Restricted Payments to the extent necessary to permit any Parent Company (and so long as such amounts are promptly applied by such Parent 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;(A) to pay general administrative costs and expenses (including corporate overhead, legal or similar expenses and customary salary, bonus and other benefits payable to directors, officers, employees, members of management, managers and/or consultants of any Parent Company) and franchise fees and Taxes and similar fees, Taxes and expenses required to enable such Parent Company to maintain its organizational existence or qualification to do business, in each case, which are reasonable and customary and incurred in the ordinary course of business, *plus* any reasonable and customary indemnification claims made by directors, officers, members of management, managers, employees or consultants of any Parent Company, in each case, to the extent attributable to the ownership or operations of any Parent Company and its subsidiaries (but excluding the portion of such amount that is attributable to the ownership or operations of any subsidiary of any Parent Company other than the Issuer and their subsidiaries)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) to make Permitted Tax Distributions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) to pay audit and other accounting and reporting expenses of such Parent Company to the extent attributable to any Parent Company (but excluding, for the avoidance of doubt, the portion of any such expenses, if any, attributable to the ownership or operations of any subsidiary of any Parent Company other than the Issuer and/or their subsidiaries), the Issuer and their subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) for the payment of insurance premiums to the extent attributable to any Parent Company (but excluding, for the avoidance of doubt, the portion of any such premiums, if any, attributable to the ownership or operations of any subsidiary of any Parent Company other than the Issuer and/or its subsidiaries), the Issuer and its subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) pay (x) fees and expenses related to debt or equity offerings, investments or acquisitions permitted or not restricted by this Agreement (whether or not consummated) relating to the Issuer and its Restricted Subsidiaries and (y) Public Company Costs;

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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) to finance any Investment permitted under <u>Section</u> <u>6.06</u> (<u>provided</u> that (x) any Restricted Payment under this <u>clause (a)(i)(F)</u> shall be made substantially concurrently with the closing of such Investment and (y) the relevant Parent Company shall, promptly following the closing thereof, cause (I) all property acquired to be contributed to the Issuer or one or more of its Restricted Subsidiaries, or (II) the merger, consolidation or amalgamation of the Person formed or acquired into the Issuer or one or more of its Restricted Subsidiaries, in order to consummate such Investment in compliance with the applicable requirements of <u>Section</u> <u>6.06</u> as if undertaken as a direct Investment by such Issuer or the relevant Restricted 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(G) to pay customary salary, bonus, severance and other benefits payable to current or former directors, officers, members of management, managers, employees or consultants of any Parent Company (or any Immediate Family Member of any of the foregoing) to the extent such salary, bonuses and other benefits are attributable and reasonably allocated to the operations of the Issuer and/or their subsidiaries, in each case, so long as such Parent Company applies the amount of any such Restricted Payment 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;(H) to pay costs, expenses and fees associated with litigation or governmental proceedings, investigations or inquires, in each case to the extent such costs, expenses and fees are attributable and reasonably allocated to the operations of the Issuer and/or their subsidiaries, in each case, so long as such Parent Company applies the amount of any such Restricted Payment for such purpose;

<u>provided</u>, that with respect to Restricted Payments under clauses (A), (B), (C), (D), (G) and (H) above, such Restricted Payments that are attributable to any Unrestricted Subsidiary shall be permitted only to the extent that either (x) such Unrestricted Subsidiary has made one or more cash distributions, advances or loans to the Issuer or any of its Restricted Subsidiaries for such purpose in an amount up to the amount of such Unrestricted Subsidiary's proportionate share of such Restricted Payment or (y) the amount of any such Restricted Payment made by the Issuer on behalf of such Unrestricted Subsidiary is treated as an Investment subject to Section 6.06 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;(ii) the Issuer may pay (or make Restricted Payments to allow any Parent Company to pay) for the repurchase, redemption, retirement or other acquisition or retirement for value of Capital Stock of any Parent Company or any subsidiary held by any future, present or former employee, director, member of management, officer, manager or consultant (or any Affiliate or Immediate Family Member thereof) of any Parent Company, the Issuer or any 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) in exchange for promissory notes issued pursuant to <u>Section</u> <u>6.01(o)</u>, so long as the aggregate amount of all Cash payments made in respect of such promissory notes, together with the aggregate amount of Restricted Payments made pursuant to <u>sub-clause (D)</u> of this <u>clause (ii)</u> below, does not exceed $20,000,000 in any Fiscal Year, which, if not used in any Fiscal Year, may be carried forward to the next subsequent 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) with the proceeds of any sale or issuance of the Capital Stock of the Issuer or any Parent Company (to the extent such proceeds are contributed in respect of Qualified Capital Stock to the Issuer or any Restricted 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) with the net proceeds of any key-man life insurance policies; 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) with Cash and Cash Equivalents in an amount not to exceed, together with the aggregate amount of all cash payments made pursuant to sub-clause (A) of this clause (ii) in respect of promissory notes issued pursuant to Section 6.01(o), $20,000,000 in any Fiscal Year, which, if not used in any Fiscal Year, may be carried forward to the next subsequent Fiscal Year;

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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;(iii) so long as no Event of Default then exists or would result therefrom, the Issuer may make additional Restricted Payments in an amount not to exceed (A) the portion, if any, of the Available Amount on such date that such Issuer elects to apply to this <u>clause (iii)(A)</u> *plus* (B) the portion, if any, of the Available Excluded Contribution Amount on such date that such Issuer elects to apply to this <u>clause (iii)(B)</u> to the extent such amount has not otherwise been applied to make Investments, Restricted Payments or Restricted Debt Payments hereunder; <u>provided</u> that, in the case of clause (A) above, the Total Leverage Ratio, calculated on a Pro Forma Basis, would not exceed 1.00:1.00;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the Issuer may make Restricted Payments (i) to any Parent Company to enable such Parent Company to make Cash payments in lieu of the issuance of fractional shares in connection with the exercise of warrants, options or other securities convertible into or exchangeable for Capital Stock of such Parent Company and (ii) consisting of (A) payments made or expected to be made in respect of withholding or similar Taxes payable by any future, present or former officers, directors, employees, members of management, managers or consultants of the Issuer, any Restricted Subsidiary or any Parent Company or any of their respective Immediate Family Members and/or (B) repurchases of Capital Stock in consideration of the payments described in <u>sub-clause (A)</u> above, including demand repurchases in connection with the exercise of stock options;

&nbsp;&nbsp;&nbsp;&nbsp;&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) the Issuer may repurchase (or make Restricted Payments to any Parent Company to enable it to repurchase) Capital Stock upon the exercise of warrants, options or other securities convertible into or exchangeable for Capital Stock if such Capital Stock represents all or a portion of the exercise price of such warrants, options or other securities convertible into or exchangeable for Capital Stock as part of a "cashless" exercise;

&nbsp;&nbsp;&nbsp;&nbsp;&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) so long as no Event of Default exists or would result therefrom, the Issuer may pay (or make Restricted Payments to allow any Parent Company to pay) for the repurchase, redemption, retirement, dividends or other acquisition or retirement for value of Capital Stock of any Parent Company or any subsidiary in an amount not to exceed per annum the greater of (x) $30,000,000 in any Fiscal Year, which, if not used in any Fiscal Year, may be carried forward to the next subsequent Fiscal Year and (y) 6.0% of the market capitalization of Indivior PLC<u>the Applicable Reporting Company</u> measured at the time of each 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;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the Issuer may make Restricted Payments to any other Issuer;

&nbsp;&nbsp;&nbsp;&nbsp;&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) the Issuer may make Restricted Payments to (i) redeem, repurchase, retire or otherwise acquire any (A) Capital Stock ("**Treasury Capital Stock**") of the Issuer and/or any Restricted Subsidiary or (B) Capital Stock of any Parent Company, in the case of each of <u>subclauses (A)</u> and <u>(B)</u>, in exchange for, or out of the proceeds of the substantially concurrent sale (other than to the Issuer and/or any Restricted Subsidiary) of, Qualified Capital Stock of the Issuer or any Parent Company to the extent any such proceeds are contributed to the capital of the Issuer and/or any Restricted Subsidiary in respect of Qualified Capital Stock ("**Refunding Capital Stock**") and (ii) declare and pay dividends on any Treasury Capital Stock out of the proceeds of the substantially concurrent sale (other than to the Issuer or a Restricted Subsidiary) of any Refunding Capital Stock;

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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;(ix) to the extent constituting a Restricted Payment, the Issuer may consummate any transaction permitted by <u>Section</u> <u>6.06</u> (other than <u>Sections 6.06(j)</u> and <u>(t)</u>) and <u>Section</u> <u>6.07</u> (other than <u>Section</u> <u>6.07(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;&nbsp;&nbsp;&nbsp;&nbsp;(x) the Issuer may make other Restricted Payments in an aggregate amount not to exceed the greater of (i) $42,500,000 and (ii) 12.5% of Consolidated Adjusted EBITDA for the Test Period then most recently ended, so long as no Event of Default shall have occurred and be continuing or shall result 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;&nbsp;&nbsp;&nbsp;&nbsp;(xi) the Issuer may pay any dividend or consummate any redemption within 60 days after the date of the declaration thereof or the provision of a redemption notice with respect thereto, as the case may be, if at the date of such declaration or notice, the dividend or redemption notice would have complied with the provisions 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;(xii) the Issuer may make Restricted Payments in an aggregate amount not to exceed $100,000,000 during the term of this Agreement to allow Indivior PLC<u>the Applicable Reporting Company</u> to repurchase, redeem and/or retire Capital Stock of Indivior PLC<u>the Applicable Reporting Company</u> from time to time, so long as no Event of Default shall have occurred and be continuing or shall result therefrom; 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;(xiii) other Restricted Payments in an unlimited amount; <u>provided</u> that (i) no Event of Default then exists or would result therefrom and (ii) the Total Leverage Ratio would be at least 0.50:1.00 on a Pro Forma Basis.

For the avoidance of doubt, Holdings may make Restricted Payments with the proceeds of any Restricted Payment permitted hereunder.

Notwithstanding anything herein to the contrary, the only baskets available for Investments made in, or Dispositions or Restricted Payments to, Unrestricted Subsidiaries and their respective Subsidiaries and designations of Unrestricted Subsidiaries shall be <u>Section</u> <u>6.06(x)</u> (it being understood, for the avoidance of doubt, that the amount of any such Investment shall be measured solely as of the date of any designation of such Unrestricted Subsidiary or any additional Investment therein, as applicable).

Notwithstanding anything to the contrary set forth herein, this <u>Section</u> <u>6.04(a)</u> is subject to the provisions set forth in <u>Section</u> <u>1.03(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Neither Holdings nor the Issuer shall, nor shall they permit any Restricted Subsidiary to, make any payment (whether in Cash, securities or other property) on or in respect of principal of or interest on (x) any Junior Lien Indebtedness or (y) any unsecured Indebtedness or Junior Indebtedness (such Indebtedness under <u>clauses</u> <u>(x)</u>, <u>(y)</u> and <u>(z)</u>, the "**Restricted Debt**"), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any Restricted Debt prior to its scheduled maturity (collectively, "**Restricted Debt Payments**"), 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;(i) any purchase, defeasance, redemption, repurchase, repayment or other acquisition or retirement of any Restricted Debt made by exchange for, or out of the proceeds of, the substantially concurrent incurrence of Refinancing Indebtedness permitted by <u>Section</u> <u>6.01(p)</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;(ii) payments as part of an "applicable high yield discount obligation" catch-up payment;

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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;(iii) payments of regularly scheduled interest as and when due in respect of any Restricted Debt, except for any payments with respect to any Subordinated Indebtedness that are prohibited by the subordination provisions 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;(iv) [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;(v) (A) Restricted Debt Payments in exchange for, or with proceeds of any issuance of, Qualified Capital Stock of the Issuer and/or any Restricted Subsidiary and/or any capital contribution in respect of Qualified Capital Stock of the Issuer or any Restricted Subsidiary, (B) Restricted Debt Payments as a result of the conversion of all or any portion of any Restricted Debt into Qualified Capital Stock of the Issuer and/or any Restricted Subsidiary and (C) to the extent constituting a Restricted Debt Payment, payment-in-kind interest with respect to any Restricted Debt to the extent that the incurrence of such additional Restricted Debt is permitted under <u>Section</u> <u>6.01</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;(vi) so long as no Event of Default exists or would result therefrom, Restricted Debt Payments in an aggregate amount not to exceed (A) the portion, if any, of the Available Amount on such date that the Issuer elects to apply to this <u>clause</u> <u>(vi)(A)</u> *plus* (B) the portion, if any, of the Available Excluded Contribution Amount on such date that the Issuer elects to apply to this <u>clause</u> <u>(vi)(B)</u> to the extent such amount has not otherwise been applied to make Investments, Restricted Payments or Restricted Debt Payments hereunder; <u>provided</u> that, in the case of clause (A) above, the Total Leverage Ratio, calculated on a Pro Forma Basis, would not exceed 1.00:1.00.

Section 6.05 <u>Restrictions on Subsidiary Distributions</u>. Except as provided herein or in any other Notes Document, any document with respect to any Incremental Equivalent Debt and/or in agreements with respect to refinancings, renewals or replacements of such Indebtedness that are permitted by <u>Section</u> <u>6.01</u>, (so long as such refinancing, renewal or replacement does not expand the scope of such contractual obligation) no Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, enter into or cause to exist any agreement restricting the ability of (i) any subsidiary of the Issuer to pay dividends or other distributions to the Issuer or any Note Party, (ii) any Restricted Subsidiary to make cash loans or advances to the Issuer or any Note Party or to repay or prepay any Notes or advances made by any such Person or (iii) transfer any of its property or assets to the Issuer or any other Note Party, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in any agreement evidencing (i) Indebtedness of a Restricted Subsidiary that is not a Note Party permitted by <u>Section</u> <u>6.01</u>, (ii) Indebtedness permitted by <u>Section</u> <u>6.01</u> that is secured by a Permitted Lien if the relevant restriction applies only to the Person obligated under such Indebtedness and its Restricted Subsidiaries or the property or assets intended to secure such Indebtedness and (iii) Indebtedness permitted pursuant to <u>clauses (m)</u>, <u>(n)</u>, <u>(p)</u> (as it relates to Indebtedness in respect of <u>clauses</u> <u>(m)</u>, <u>(n)</u>, <u>(r)</u>, <u>(u)</u>, <u>(v)</u>, <u>(q)</u>, <u>(w)</u> and/or <u>(z)</u> of <u>Section</u> <u>6.01</u>), <u>(q)</u>, <u>(r)</u>, <u>(u)</u>, <u>(v)</u>, <u>(w)</u> and/or <u>(z)</u> of <u>Section</u> <u>6.01</u>; <u>provided</u> that, in the case of Indebtedness permitted pursuant to clauses (r), (u), (v) or (p) (as it relates to Indebtedness permitted pursuant to clauses (r), (u) or (v)) of <u>Section</u> <u>6.01</u>, such restrictions are not materially more restrictive, taken as a whole, than the restrictions contained in this Agreement or are market terms at the time of incurrence or issuance of such Indebtedness.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by reason of customary provisions restricting assignments, subletting or other transfers contained in leases, subleases, licenses, sublicenses, joint venture agreements and similar agreements entered into in the ordinary course of business;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) assumed in connection with any acquisition of property or the Capital Stock of any Person, so long as the relevant encumbrance or restriction relates solely to the Person and its subsidiaries (including the Capital Stock of the relevant Person or Persons) and/or all or a portion of the property so acquired and was not created in connection with or in anticipation of such acquisition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) in any agreement for any Disposition of any Restricted Subsidiary (or all or substantially all of the property and/or assets thereof) that restricts the payment of dividends or other distributions or the making of cash loans or advances by such Restricted Subsidiary pending such Disposition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) in provisions in agreements or instruments which prohibit the payment of dividends or the making of other distributions with respect to any class of Capital Stock of a Person other than on a *pro rata* basis;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) imposed by customary provisions in partnership agreements, limited liability company organizational governance documents, joint venture agreements and other similar agreements, in each case, with respect to Restricted Subsidiaries that are not Wholly-Owned Subsidiaries of the Issuer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) on Cash, other deposits or net worth or similar restrictions imposed by any Person under any contract entered into in the ordinary course of business or for whose benefit such Cash, other deposits or net worth or similar restrictions exist;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) set forth in documents which exist on the Closing Date and not created in contemplation thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) those arising pursuant to an agreement or instrument relating to any Indebtedness permitted to be incurred after the Closing Date if the relevant restrictions, taken as a whole, are not materially less favorable to the Holders than the restrictions contained in this Agreement, taken as a whole (as determined in good faith by the Issuer);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) those arising under or as a result of applicable law, rule, regulation or order or the terms of any governmental license, authorization, concession or permit;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) those arising in any Hedge Agreement and/or any agreement relating to any Banking Services Obligation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) those contained in any Permitted Securitization Document with respect to any Special Purpose Securitization Subsidiary; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) those imposed by any amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing of any contract, instrument or obligation referred to in <u>clauses (a)</u> through <u>(m)</u> above; <u>provided</u> that no such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing is, in the good faith judgment of the Issuer, more restrictive with respect to such restrictions, taken as a whole, than those in existence prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing.

Section 6.06 <u>Investments</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, make or own any Investment in any other Person except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Cash or Investments that were Cash Equivalents at the time 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;(b) (i) Investments existing on the Closing Date in any subsidiary, (ii) Investments made after the Closing Date among the Issuer and/or one or more Restricted Subsidiaries that are Note Parties, (iii) Investments made after the Closing Date by any Note Party in any Restricted Subsidiary that is not a Note Party in an aggregate outstanding amount not to exceed the greater of (A) $145,000,000 and (B) 40.0% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period, (iv) Investments made by any Note Party and/or any Restricted Subsidiary that is not a Note Party in the form of any contribution or Disposition of the Capital Stock of any Person that is not a Note Party so long as such Investment is not made in an Unrestricted Subsidiary; <u>provided</u> that, prior to such contribution or Disposition or series of transactions resulting in such contribution or Disposition, such Capital Stock was not owned directly by a Note Party and (v) Investments made by any Restricted Subsidiary that is not a Note Party in any Note Party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Investments (i) constituting deposits, prepayments and/or other credits to suppliers and/or (ii) in the form of advances made to distributors, suppliers, licensors and licensees, in each case, in the ordinary course of business or, in the case of <u>clause (ii)</u>, to the extent necessary to maintain the ordinary course of supplies to the Issuer or any Restricted Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) [Reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) (i) Permitted Acquisitions and (ii) Investments in Restricted Subsidiaries that are not Note Parties in amounts required to permit such Restricted Subsidiaries to consummate Permitted Acquisitions, so long as the consideration for such Investments shall be included for the purpose of calculating any amount available for Permitted Acquisitions pursuant to clause (b) of the proviso to the definition of "Permitted Acquisition";

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Investments (i) existing on, or contractually committed to or contemplated as of, the Closing Date and described on <u>Schedule</u> <u>6.06</u> and (ii) any modification, replacement, renewal or extension of any Investment described in <u>clause (i)</u> above so long as no such modification, renewal or extension thereof increases the amount of such Investment except by the terms thereof or as otherwise permitted by this <u>Section</u> <u>6.06</u> (in which case, such increase shall be required to be justified under one or more other exceptions to this <u>Section</u> <u>6.06</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Investments received in lieu of Cash in connection with any Disposition permitted by <u>Section</u> <u>6.07</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) loans or advances to present or former employees, directors, members of management, officers, managers or consultants or independent contractors (or their respective Immediate Family Members) of any Parent Company, the Issuer and its subsidiaries to the extent permitted by Requirements of Law, in connection with such Person's purchase of Capital Stock of any Parent Company, either (i) in an aggregate principal amount not to exceed $10,000,000 at any one time outstanding or (ii) so long as the proceeds of such loan or advance are substantially contemporaneously contributed to the Issuer or a Restricted Subsidiary for the purchase of Qualified Capital Stock thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Investments consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant 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;(j) Investments consisting of Indebtedness permitted under <u>Section</u> <u>6.01</u> (other than Indebtedness permitted under <u>Sections</u> <u>6.01(b</u>) and <u>(h)</u>), Permitted Liens, Restricted Payments permitted under <u>Section</u> <u>6.04</u> (other than <u>Section</u> <u>6.04(a)(ix)</u>), Restricted Debt Payments permitted by <u>Section</u> <u>6.04(b)</u> and mergers, consolidations, amalgamations, liquidations, windings up, dissolutions or Dispositions permitted by <u>Section</u> <u>6.07</u> (other than <u>Section</u> <u>6.07(a)</u> (if made in reliance on <u>subclause (ii)(y)</u> of the proviso thereto), <u>Section</u> <u>6.07(b)</u> (if made in reliance on <u>clause</u> <u>(ii)</u> therein), <u>Section</u> <u>6.07(c)(ii)</u> (if made in reliance on <u>clause (B)</u> therein) and <u>Section</u> <u>6.07(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;(k) Investments in the ordinary course of business consisting of endorsements for collection or deposit and customary trade arrangements with customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Investments (including debt obligations and Capital Stock) received (i) in connection with the bankruptcy or reorganization of any Person, (ii) in settlement of delinquent obligations of, or other disputes with, customers, suppliers and other account debtors arising in the ordinary course of business, (iii) upon foreclosure with respect to any secured Investment or other transfer of title with respect to any secured Investment and/or (iv) as a result of the settlement, compromise, resolution of litigation, arbitration or other disputes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) loans and advances of payroll payments or other compensation to present or former employees, directors, members of management, officers, managers or consultants of any Parent Company (to the extent such payments or other compensation relate to services provided to such Parent Company (but excluding, for the avoidance of doubt, the portion of any such amount, if any, attributable to the ownership or operations of any subsidiary of any Parent Company other than the Issuer and/or its subsidiaries)), the Issuer and/or any subsidiary 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;(n) Investments to the extent that payment therefor is made solely with Capital Stock of any Parent Company or Capital Stock (other than Disqualified Capital Stock) of the Issuer or any Restricted Subsidiary, in each case, to the extent not resulting in a Change of Control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) (i) Investments of any Restricted Subsidiary acquired after the Closing Date, or of any Person acquired by, or merged into or consolidated or amalgamated with, the Issuer or any Restricted Subsidiary after the Closing Date, in each case as part of an Investment otherwise permitted by this <u>Section</u> <u>6.06</u> to the extent that such Investments were not made in contemplation of or in connection with such acquisition, merger, amalgamation or consolidation and were in existence on the date of the relevant acquisition, merger, amalgamation or consolidation (it being acknowledged and agreed that the "grandfathering" of Investments pursuant to this clause (o)(i) is not intended to limit the application of clause (b) of the definition of "Permitted Acquisition" to existing Investments in non-Note Parties acquired pursuant to a Permitted Acquisition) and (ii) any modification, replacement, renewal or extension of any Investment permitted under <u>clause (i)</u> of this <u>Section</u> <u>6.06(o)</u> so long as no such modification, replacement, renewal or extension thereof increases the amount of such Investment except as otherwise permitted by this <u>Section</u> <u>6.06</u> (in which case, such increase shall be required to be justified under one or more other exceptions to this <u>Section</u> <u>6.06</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Investments made in connection with the Transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Investments made after the Closing Date by the Issuer and/or any of its Restricted Subsidiaries in an aggregate amount at any time outstanding not to exceed:

&nbsp;&nbsp;&nbsp;&nbsp;&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) the greater of (x) $145,000,000 and (y) 40.0% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period; provided, that Investments made pursuant to this clause (q)(i) may not be made in any Unrestricted Subsidiary, *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;(ii) in the event that (A) the Issuer or any of its Restricted Subsidiaries makes any Investment after the Closing Date in any Person that is not a Restricted Subsidiary otherwise permitted hereunder and (B) such Person subsequently becomes a Restricted Subsidiary, an amount equal to 100.0% of the fair market value of such Investment as of the date on which such Person becomes a Restricted Subsidiary, to the extent that such amount is not included in the calculation of the Available Amount;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) so long as no Event of Default then exists or would result therefrom, Investments made after the Closing Date by the Issuer and/or any of its Restricted Subsidiaries in an aggregate outstanding amount not to exceed (i) the portion, if any, of the Available Amount on such date that such Issuer elects to apply to this <u>clause (r)(i)</u> *plus* (ii) the portion, if any, of the Available Excluded Contribution Amount on such date that such Issuer elects to apply to this <u>clause (r)(ii)</u> to the extent such amount has not otherwise been applied to make Investments, Restricted Payments or Restricted Debt Payments hereunder; <u>provided</u> that, in the case of <u>clause (r)(i)</u> above, the Total Leverage Ratio, calculated on a Pro Forma Basis, would not exceed 2.00:1.00;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s) (i) Guarantees of leases (other than Capital Leases) or of other obligations not constituting Indebtedness and (ii) Guarantees of the lease obligations of suppliers, customers, franchisees and licensees of the Issuer and/or its Restricted Subsidiaries, in each case, 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;(t) Investments in any Parent Company in amounts and for purposes for which Restricted Payments to such Parent Company are permitted under <u>Section</u> <u>6.04(a)</u>; <u>provided</u> that any Investment made as provided above in lieu of any such Restricted Payment shall reduce availability under the applicable Restricted Payment basket under <u>Section</u> <u>6.04(a)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) Investments made by any Restricted Subsidiary that is not a Note Party with the proceeds received by such Restricted Subsidiary from an Investment made by any Note Party in such Restricted Subsidiary pursuant to this <u>Section</u> <u>6.06</u> (other than Investments made pursuant to <u>clause (ii)</u> of <u>Section</u> <u>6.06(e)</u> or <u>Section</u> <u>6.06(x)</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) [reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(w)</u> Investments under any Derivative Transaction of the type permitted under <u>Section</u> <u>6.01(s)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(x)</u> Investments made in connection with the creation, formation and/or acquisition of any joint venture or Unrestricted Subsidiary, or in any Restricted Subsidiary to enable such Restricted Subsidiary to create, form and/or acquire any joint venture or Unrestricted Subsidiary, in an aggregate outstanding amount not to exceed the greater of $72,500,000 and 20.0% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) Investments made in any joint venture existing on the Closing Date as required by, or made pursuant to, buy/sell arrangements between the joint venture parties set forth in joint venture agreements and similar binding arrangements in effect on the Closing Date (other than any modification, replacement, renewal or extension of such Investments so long as no such modification, renewal or extension thereof increases the amount of any such Investment except by the terms thereof or as otherwise permitted by this <u>Section</u> <u>6.06</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(z)</u> unfunded pension fund and other employee benefit plan obligations and liabilities to the extent that they are permitted to remain unfunded under applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(aa)</u> Investments in the Issuer, any subsidiary and/or any joint venture in connection with intercompany cash management arrangements and related activities in the ordinary course of business;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(bb)</u> Investments consisting of the licensing or contribution of IP Rights pursuant to joint marketing arrangements with other Persons in the ordinary of course of business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(cc)</u> Investments consisting of Securitization Assets or arising as a result of Permitted Securitization Financings; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(dd)</u> other Investments as long as (i) no Event of Default then exists or would result therefrom and (ii) the Total Leverage Ratio does not exceed, calculated on a Pro Forma Basis, would not exceed 1.50:1.00.

For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested (with respect to any investment made other than in the form of cash or Cash Equivalents valued at the fair market value thereof (as reasonably determined by the Issuer in good faith) at the time of the making thereof), without adjustment for subsequent increases or decreases in the value of such Investment, less any amount repaid, returned, distributed or otherwise received in respect of any Investment.

Notwithstanding the foregoing, no Investment (w) of any Material Asset may be made by the Issuer or any Restricted Subsidiary to an Unrestricted Subsidiary, (x) shall be made in any Unrestricted Subsidiary except under <u>Section</u> <u>6.06(x)</u> (it being understood, for the avoidance of doubt, that the amount of any such Investment shall be measured solely as of the date of any designation of such Unrestricted Subsidiary or any additional Investment therein, as applicable), (y) shall be made in any Non-Note Party except under the Non-Note Party Investment Baskets, and (z) other than with respect to any redesignation of an Unrestricted Subsidiary (which shall rebuild the baskets set forth above by up to the original amount of any such Investments in the applicable Unrestricted Subsidiary), there shall be no rebuilding of such baskets to the extent utilized for Investments in Unrestricted Subsidiaries or their respective Subsidiaries (including with proceeds received on account of any such transfer or returns on such Investments or otherwise) nor any reclassification of such Investments permitted in reliance on such baskets. 

Notwithstanding anything to the contrary set forth herein, this <u>Section</u> <u>6.06</u> is subject to the provisions set forth in <u>Section</u> <u>1.03(b)</u>.

Section 6.07 <u>Fundamental Changes; Disposition of Assets</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, enter into any transaction of merger, consolidation or amalgamation, or liquidate, wind up or dissolve themselves (or suffer any liquidation or dissolution), or make any Disposition, in a single transaction or in a series of related transactions, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any Restricted Subsidiary may be merged, consolidated or amalgamated with or into the Issuer or any other Restricted Subsidiary; <u>provided</u> that (i) in the case of any such merger, consolidation or amalgamation with or into the Issuer, such Issuer shall be the continuing or surviving Person and (ii) in the case of any such merger, consolidation or amalgamation with or into any Subsidiary Guarantor, either (x) such Subsidiary Guarantor shall be the continuing or surviving Person or the continuing or surviving Person shall expressly assume the guarantee obligations of the Subsidiary Guarantor in a manner reasonably satisfactory to the Administrative Agent or (y) the relevant transaction shall be treated as an Investment and shall comply with <u>Section</u> <u>6.06</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Dispositions (including of Capital Stock) among the Issuer and/or any Restricted Subsidiary (upon voluntary liquidation or otherwise); <u>provided</u> that any such Disposition by any Note Party to any Person that is not a Note Party shall be (i) for fair market value (as reasonably determined by such Person) with at least 75% of the consideration for such Disposition consisting of Cash or Cash Equivalents at the time of such Disposition or (ii) treated as an Investment and otherwise made in compliance with <u>Section</u> <u>6.06</u> (other than in reliance on <u>clause (j)</u> thereof); <u>provided</u>, <u>further</u>, that any such Disposition by

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any Note Party (whether as a single transaction or any series of transactions) to any Non-Qualified Note Party of any intellectual property that, individually or in the aggregate, is material to the business of the Issuer and their Restricted Subsidiaries, taken as a whole, shall be treated as an Investment and otherwise made in compliance with <u>Section</u> <u>6.06</u> (other than in reliance on <u>clauses (b)(ii)</u> or <u>(j)</u> thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) (i) the liquidation or dissolution of any Restricted Subsidiary if the Issuer determines in good faith that such liquidation or dissolution is in the best interests of the Issuer, is not materially disadvantageous to the Holders and the Issuer or any Restricted Subsidiary receives any assets of the relevant dissolved or liquidated Restricted Subsidiary; <u>provided</u> that in the case of any liquidation or dissolution of any Note Party that results in a distribution of assets to any Restricted Subsidiary that is not a Note Party, such distribution shall be treated as an Investment and shall comply with <u>Section</u> <u>6.06</u> (other than in reliance on <u>clause (j)</u> thereof); (ii) any merger, amalgamation, dissolution, liquidation or consolidation, the purpose of which is to effect (A) any Disposition otherwise permitted under this <u>Section</u> <u>6.07</u> (other than <u>clause (a)</u>, <u>clause (b)</u> or this <u>clause (c)</u>) or (B) any Investment permitted under <u>Section</u> <u>6.06</u> (other than in reliance on <u>clause (j)</u> thereof); and (iii) any Restricted Subsidiary (other than the Issuer) may be converted into another form of entity, in each case, so long as such conversion does not adversely affect the value of the Note Guaranty or Collateral, if any;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) (x) Dispositions of inventory or equipment in the ordinary course of business (including on an intercompany basis) and (y) the leasing or subleasing of real property 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;(e) Dispositions of surplus, obsolete, used or worn out property or other property that, in the reasonable judgment of the Issuer, is (A) no longer useful in its business (or in the business of any Restricted Subsidiary of such Issuer) or (B) otherwise economically impracticable to maintain;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Dispositions of Cash Equivalents or other assets that were Cash Equivalents when the relevant original Investment was made;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Dispositions, mergers, amalgamations, consolidations or conveyances that constitute Investments permitted pursuant to <u>Section</u> <u>6.06</u> (other than <u>Section</u> <u>6.06(j)</u>), Permitted Liens, Restricted Payments permitted by <u>Section</u> <u>6.04(a)</u> (other than <u>Section</u> <u>6.04(a)(ix)</u>) and Sale and Lease-Back Transactions permitted by <u>Section</u> <u>6.08</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Dispositions for fair market value; <u>provided</u> that with respect to any such Disposition with a purchase price in excess of the greater of $10,000,000 at least 75% of the consideration for such Disposition shall consist of Cash or Cash Equivalents (<u>provided</u> that for purposes of the 75% Cash consideration requirement, (w) the amount of any Indebtedness or other liabilities (other than Indebtedness or other liabilities that are subordinated to the Obligations or that are owed to the Issuer or any Restricted Subsidiary) of the Issuer or any Restricted Subsidiary (as shown on such Person's most recent balance sheet or statement of financial position (or in the notes thereto) that are assumed by the transferee of any such assets and for which the Issuer and/or its applicable Restricted Subsidiary have been validly released by all relevant creditors in writing, (x) the amount of any trade-in value applied to the purchase price of any replacement assets acquired in connection with such Disposition, (y) any Securities received by the Issuer or any Restricted Subsidiary from such transferee that are converted by such Person into Cash or Cash Equivalents (to the extent of the Cash or Cash Equivalents received) within 180 days following the closing of the applicable Disposition and (z) any Designated Non-Cash Consideration received in respect of such Disposition having an aggregate fair market value, taken together with all other Designated Non-Cash Consideration received pursuant to this <u>clause (z)</u> that is at that time outstanding, not in excess of the greater of (i) $20,000,000 and (ii) 10.0% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period, in each case, shall be deemed to be Cash); <u>provided</u>, <u>further</u>, that (x) immediately prior to and after giving effect to such Disposition, as determined on the date on which the agreement governing such Disposition is executed, no Event of Default shall exist and (y) the Net Proceeds of such Disposition shall be applied and/or reinvested as (and to the extent) required by <u>Section</u> <u>2.11(b)(ii)</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;(i) to the extent that (i) the relevant property is exchanged for credit against the purchase price of similar replacement property or (ii) the proceeds of the relevant Disposition are promptly applied to the purchase price of such replacement property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Dispositions of Investments in joint ventures to the extent required by, or made pursuant to, buy/sell arrangements between joint venture or similar parties set forth in the relevant joint venture arrangements and/or similar binding arrangements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) Dispositions of accounts receivable in the ordinary course of business (including any discount and/or forgiveness thereof and any factoring or similar arrangement) or in connection with the collection or compromise thereof (other than in connection with a Permitted Securitization Financing);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) Dispositions and/or terminations of leases, subleases, licenses or sublicenses (including the provision of software under any open source license), which (i) do not materially interfere with the business of the Issuer and their Restricted Subsidiaries or (ii) relate to closed facilities or the discontinuation of any product line;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) (i) any termination of any lease in the ordinary course of business, (ii) any expiration of any option agreement in respect of real or personal property and (iii) any surrender or waiver of contractual rights or the settlement, release or surrender of contractual rights or litigation claims (including in tort) 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;(n) Dispositions of property subject to foreclosure, casualty, eminent domain or condemnation proceedings (including in lieu thereof or any similar proceeding);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) Dispositions or consignments of equipment, inventory or other assets (including leasehold interests in real property) with respect to facilities that are temporarily not in use, held for sale or closed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p) Dispositions in connection with the Transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q) Dispositions of non-core assets acquired in connection with any acquisition permitted hereunder and sales of Real Estate Assets acquired in any acquisition permitted hereunder which, within 90 days of the date of such acquisition, are designated in writing to the Administrative Agent as being held for sale and not for the continued operation of the Issuer or any of their Restricted Subsidiaries or any of their respective businesses; <u>provided</u> that (i) the Net Proceeds received in connection with any such Disposition shall be applied and/or reinvested as (and to the extent required) by <u>Section</u> <u>2.11(b)(ii)</u> and (ii) no Event of Default exists on the date on which the definitive agreement governing the relevant Disposition is executed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r) exchanges or swaps, including transactions covered by Section 1031 of the Code (or any comparable provision of any foreign jurisdiction), of property or assets so long as any such exchange or swap is made for fair value (as reasonably determined by the Issuer) for like property or assets; <u>provided</u> that (i) upon the consummation of any such exchange or swap by any Note Party, to the extent the property received does not constitute an Excluded Asset, the Administrative Agent has a perfected Lien with the same priority as the Lien held on the Real Estate Assets so exchanged or swapped and (ii) any Net Proceeds received as "cash boot" in connection with any such transaction shall be applied and/or reinvested as (and to the extent required) by <u>Section</u> <u>2.11(b)(ii)</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;(s) the purchase and Disposition (including by capital contribution) of Securitization Assets including pursuant to Permitted Securitization Financings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t) (i) licensing and cross-licensing arrangements involving any technology, intellectual property or IP Rights of the Issuer or any Restricted Subsidiary in the ordinary course of business and (ii) Dispositions, abandonments, cancellations or lapses of IP Rights, or issuances or registrations, or applications for issuances or registrations, of IP Rights, which, in the reasonable good faith determination of the Issuer, are not material to the conduct of the business of the Issuer or their Restricted Subsidiaries, or are no longer economical to maintain in light of its use;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(u) terminations or unwinds of Derivative Transactions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>(v)</u> Dispositions of Capital Stock of, or sales of Indebtedness or other Securities of, Unrestricted Subsidiaries so long as (i) no Default or Event of Default then exists or would result therefrom (ii) substantially all of the assets of such Unrestricted Subsidiary does not consist of Cash, Cash Equivalents and/or assets that were contributed and/or otherwise transferred to such Unrestricted Subsidiary by the Issuer or any Restricted Subsidiary in the form of one or more Investments and (iii) the fair market value of the Capital Stock in such Unrestricted Subsidiary does not exceed 10% of Consolidated Adjusted EBITDA as of the most recently ended Test Period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(w) Dispositions of Real Estate Assets and related assets in the ordinary course of business in connection with relocation activities for directors, officers, employees, members of management, managers or consultants of any Parent Company, the Issuer and/or any Restricted Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x) Dispositions made to comply with any order of any agency of the U.S. Federal government, any state, authority or other regulatory body or any applicable Requirement of Law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(y) any merger, consolidation, Disposition or conveyance the sole purpose of which is to reincorporate or reorganize any Domestic Subsidiary in another jurisdiction in the U.S.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(z) other Dispositions not in excess of the greater of (1) (i) $8,500,000 and (ii) 2.0% of Consolidated Adjusted EBITDA for the Test Period then most recently ended for any individual Disposition made under this clause (z) and (2) (i) $17,000,000 and (ii) 5.0% of Consolidated Adjusted EBITDA for the Test Period then most recently ended in the aggregate for all Dispositions made under this clause (z);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(aa) any sale of motor vehicles and information technology equipment purchased at the end of an operating lease and resold thereafter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(bb) [Reserved]; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(cc) Dispositions contemplated on the Closing Date and described on <u>Schedule</u> <u>6.07</u>.

Notwithstanding anything herein to the contrary, (x) the only baskets available for Investments made in, or Dispositions or Restricted Payments to, Unrestricted Subsidiaries and their respective Subsidiaries and designations of Unrestricted Subsidiaries shall be <u>Section</u> <u>6.06(x)</u> (it being understood, for the avoidance of doubt, that the amount of any such Investment shall be measured solely as of the date of any designation of such Unrestricted Subsidiary or any additional Investment therein, as applicable) and (y) neither the Issuer nor any other Restricted Subsidiary shall sell, transfer, lease or otherwise dispose of any material Intellectual Property to any Unrestricted Subsidiary (with any such attempted transfer void *ab initio*).

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Section 6.08 <u>Sale and Lease-Back Transactions</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, directly or indirectly, become or remain liable as lessee or as a guarantor or other surety with respect to any lease of any property (whether real, personal or mixed), whether now owned or hereafter acquired, which such Issuer or the relevant Restricted Subsidiary (a) has sold or transferred or is to sell or to transfer to any other Person (other than the Issuer or any of its Restricted Subsidiaries) and (b) intends to use for substantially the same purpose as the property which has been or is to be sold or transferred by such Issuer or such Restricted Subsidiary to any Person (other than the Issuer or any of its Restricted Subsidiaries) in connection with such lease (such a transaction described herein, a "**Sale and Lease-Back Transaction**"); <u>provided</u> that any Sale and Lease-Back Transaction shall be permitted so long as the Net Proceeds of such Disposition are applied and/or reinvested as (and to the extent) required by <u>Section</u> <u>2.11(b)(ii)</u> and such Sale and Lease-Back Transaction is (A) permitted by <u>Section</u> <u>6.01(m)</u> or (B)(1) made in exchange for cash consideration, (2) such Issuer or its applicable Restricted Subsidiary would otherwise be permitted to enter into, and remain liable under, the applicable underlying lease and (3) the aggregate fair market value of the assets sold subject to all Sale and Lease-Back Transactions under this <u>clause (B)</u> shall not exceed the greater of (i) $145,000,000 and (ii) 40.0% of Consolidated Adjusted EBITDA as of the last day of the most recently ended Test Period.

Section 6.09 <u>Transactions with Affiliates</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, enter into any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) with any of their respective Affiliates on terms that are less favorable to such Issuer or such Restricted Subsidiary, as the case may be (as reasonably determined by the Issuer), than those that might be obtained at the time in a comparable arm's-length transaction from a Person who is not an Affiliate; <u>provided</u> that the foregoing restriction shall not apply to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any transaction between or among the Issuer and/or one or more Restricted Subsidiaries (or any entity that becomes a Restricted Subsidiary as a result of such transaction) to the extent permitted or not restricted by this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any issuance, sale or grant of securities or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of employment arrangements, stock options and stock ownership plans approved by the board of directors (or equivalent governing body) of any Parent Company or of the Issuer or any Restricted Subsidiary;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) (i) any collective bargaining, employment or severance agreement or compensatory (including profit sharing) arrangement entered into by the Issuer or any of its Restricted Subsidiaries with their respective current or former officers, directors, members of management, managers, employees, consultants or independent contractors or those of any Parent Company, (ii) any subscription agreement or similar agreement pertaining to the repurchase of Capital Stock pursuant to put/call rights or similar rights with current or former officers, directors, members of management, managers, employees, consultants or independent contractors and (iii) transactions pursuant to any employee compensation, benefit plan, stock option plan or arrangement, any health, disability or similar insurance plan which covers current or former officers, directors, members of management, managers, employees, consultants or independent contractors or any employment contract or arrangement;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) (i) transactions permitted by <u>Sections</u> <u>6.01(d)</u>, <u>(o)</u>, <u>(bb)</u> and <u>(ee)</u>, <u>6.04</u> and <u>6.06(h)</u>, <u>(m)</u>, <u>(q)</u>, <u>(t)</u>, <u>(v)</u>, <u>(x)</u>, <u>(y)</u>, <u>(z)</u>, <u>(aa)</u> and (<u>cc</u>) and <u>(ii)</u> issuances of Capital Stock not restricted by this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) transactions in existence on the Closing Date and any amendment, modification or extension thereof to the extent such amendment, modification or extension, taken as a whole, is not (i) materially adverse to the Holders or (ii) more disadvantageous to the Holders than the relevant transaction in existence on the Closing Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) [Reserved];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the Transactions, including the payment of Transaction Costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) customary compensation to Affiliates in connection with financial advisory, financing, underwriting or placement services or in respect of other investment banking activities and other transaction fees, which payments are approved by the majority of the members of the board of directors (or similar governing body) or a majority of the disinterested members of the board of directors (or similar governing body) of the Issuer in good faith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Guarantees permitted by <u>Section</u> <u>6.01</u> or <u>Section</u> <u>6.06</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) loans and other transactions among the Note Parties to the extent permitted under this <u>Article 6</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) the payment of customary fees and reasonable out-of-pocket costs to, and indemnities provided on behalf of, members of the board of directors (or similar governing body), officers, employees, members of management, managers, consultants and independent contractors of the Issuer and/or any of its Restricted Subsidiaries in the ordinary course of business and, in the case of payments to such Person in such capacity on behalf of any Parent Company, to the extent attributable to the operations of the Issuer or its Restricted Subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) transactions with customers, clients, suppliers, joint ventures, purchasers or sellers of goods or services or providers of employees or other labor entered into in the ordinary course of business, which are (i) fair to the Issuer and/or its applicable Restricted Subsidiary in the good faith determination of the board of directors (or similar governing body) of such Issuer or the senior management thereof or (ii) on terms at least as favorable as might reasonably be obtained from a Person other than an Affiliate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) the payment of reasonable out-of-pocket costs and expenses related to registration rights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n) [Reserved]; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o) any transaction in respect of which the Issuer delivers to the Administrative Agent a letter addressed to the board of directors (or equivalent governing body) of such Issuer from an accounting, appraisal or investment banking firm of nationally recognized standing stating that such transaction is on terms that are no less favorable to such Issuer or the applicable Restricted Subsidiary than might be obtained at the time in a comparable arm's length transaction from a Person who is not an Affiliate.

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Section 6.10 <u>Conduct of Business</u>. From and after the Closing Date, no Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, engage in any material line of business other than (a) the businesses engaged in by the Issuer or any Restricted Subsidiary on the Closing Date and similar, complementary, ancillary or related businesses and, in the case of a Special Purpose Securitization Subsidiary, Permitted Securitization Financings and (b) such other lines of business to which the Required Holders may consent.

Section 6.11 <u>Amendments or Waivers of Organizational Documents</u>. No Issuer shall, nor shall it permit any Subsidiary Guarantor to, amend or modify their respective Organizational Documents, in each case in a manner that is materially adverse to the Holders (in their capacities as such) without obtaining the prior written consent of the Required Holders; <u>provided</u> that, for purposes of clarity, it is understood and agreed that the Issuer and/or any Subsidiary Guarantor may effect a change to its organizational form and/or consummate any other transaction that is permitted under <u>Section</u> <u>6.07</u>.

Section 6.12 <u>Amendments of or Waivers with Respect to Certain Debt</u>. No Issuer shall, nor shall it permit any of its Restricted Subsidiaries to, amend or otherwise modify the terms of any Restricted Debt (or the documentation governing or evidencing the foregoing) if the effect of such amendment or modification, together with all other amendments or modifications made, is materially adverse to the interests of the Holders (in their capacities as such); <u>provided</u> that, for purposes of clarity, it is understood and agreed that the foregoing limitation shall not otherwise prohibit any Refinancing Indebtedness or any other replacement, refinancing, amendment, supplement, modification, extension, renewal, restatement or refunding of any Junior Indebtedness, in each case, that is permitted under this Agreement in respect thereof.

Section 6.13 <u>Fiscal Year</u>. The Issuer shall not change their Fiscal Year-end to a date other than December 31; <u>provided</u>, that, the Issuer may, upon written notice to the Administrative Agent, change the Fiscal Year-end of the Issuer to another date, in which case the Issuer and the Administrative Agent will, and are hereby authorized to, make any adjustments to this Agreement that are necessary to reflect such change in Fiscal Year.

<u>Section</u> <u>6.14</u> <u>Financial Covenants; Curative Equity</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Total Leverage Ratio</u>. The Issuer shall not permit the Total Leverage Ratio, measured as of the last day of each fiscal quarter, to be greater than the ratio set forth in the table below with respect to such fiscal quarter:

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| | |
|:---|:---|
| **Fiscal Quarter** | **Ratio** |
| ARTICLE 21December 31, 2024 through September 30, 2026 | ARTICLE 223.00 to 1.00 |
| ARTICLE 23December 31, 2026 and thereafter | ARTICLE 242.50 to 1.00 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Interest Coverage Ratio</u>. The Issuer shall not permit the Interest Coverage Ratio, measured as of the last day of each fiscal quarter, to be less than 2.50 to 1.00.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Curative Equity</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;(i) Subject to the limitations set forth in <u>Section</u> <u>6.14(c)(ii)</u>, Issuer may cure (and will be deemed to have cured) an Event of Default arising out of a breach of any of the financial covenant set forth in <u>Section</u> <u>6.14(a)</u> or <u>(b)</u> (each such financial covenant, a "<u>Specified Financial Covenant</u>"; each such Event of Default, a "<u>Specified Financial Covenant Default</u>") if Issuer receive the cash proceeds of Curative Equity within 10 Business Days after the delivery of the Compliance Certificate (or the date such Compliance Certificate is required to be delivered) as to which the applicable Specified Financial Covenant is required to be reported for the applicable Computation Period pursuant 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;(ii) Upon delivery of a certificate by Issuer to Administrative Agent certifying as to the amount of the proceeds of any Curative Equity and prepayment of the Term Notes in accordance with <u>Section</u> <u>2.11((b)(iv)</u>, then each applicable Specified Financial Covenant Default will be deemed cured with no further action required by the Required Holders. Before the date of the delivery of that certificate, any Specified Financial Covenant Default that has occurred and is continuing will be deemed to be continuing, and, as a result, the Holders will have no obligation to make additional notes or otherwise extend additional credit under this Agreement. If Issuer do not cure a Specified Financial Covenant Default as provided in this <u>Section</u> <u>6.14(c)</u>, then that Specified Financial Covenant Default will continue unless waived in writing by the Required Holders in accordance with 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;(iii) To the extent that proceeds of Curative Equity are received with respect to any Fiscal Quarter, those proceeds will be deemed to be Consolidated Adjusted EBITDA for purposes of determining compliance with the Specified Financial Covenants for that Fiscal Quarter and subsequent periods that include that Fiscal Quarter. Notwithstanding any provision of this Agreement to the contrary, (A) Issuer' rights under this <u>Section</u> <u>6.14(c)</u> (x) may be exercised no more than five times during the term of this Agreement, (y) may be exercised no more than twice in any period of four Fiscal Quarters and (z) may not be exercised in consecutive Fiscal Quarters; (B) the amount of proceeds of any Curative Equity may not be greater than the amount required to cause Issuer to be in compliance with each applicable Specified Financial Covenant as at the end of the applicable Computation Period; (C) the proceeds of Curative Equity shall be immediately paid over to the Administrative Agent to be applied to pay down the Term Notes in accordance with <u>Section</u> <u>2.11((b)(iv)</u>; *provided that* such prepaid amounts shall be deemed to continue to be outstanding Term Notes for purposes of calculating Curative Equity and compliance with the Specified Financial Covenants for that Fiscal Quarter and any test period that includes such Fiscal Quarter; and (D) the proceeds of Curative Equity will be disregarded for purposes of determining Consolidated Adjusted EBITDA for any pricing, financial covenant-based conditions, or baskets with respect to the covenants contained in this Agreement and there will be no pro forma reduction in Indebtedness with the proceeds of any Curative Equity for determining compliance with the Specified Financial Covenants or for determining any pricing, financial covenant-based conditions, or baskets with respect to the covenants contained in this Agreement, in each case in the Fiscal Quarter in which that Curative Equity is used.

Section 6.15 <u>Holdings Covenant</u>. With respect to Holdings, engage in any material operating or business activities; *<u>provided</u>* that the following and any activities incidental thereto shall be permitted in any event: (i) its ownership of the Equity Interests of RBP Global and its Subsidiaries and activities incidental thereto, including payment of dividends and other amounts in respect of its Equity Interests, (ii) the maintenance of its legal existence (including the ability to incur fees, costs and expenses relating to such maintenance), (iii) the performance of its obligations with respect to the Notes Documents and any other Indebtedness permitted under <u>Section</u> <u>6.01</u> to be incurred by the Issuer and the Restricted Subsidiaries, (iv) financing activities (including the issuance of securities, to the extent such financing activities and securities do not constitute Indebtedness), payment of dividends, making contributions to the capital of the Issuer and its other Subsidiaries and guaranteeing the obligations of the Issuer and its other Subsidiaries permitted hereunder, (v) participating in tax, accounting and other administrative matters as a

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member of the consolidated group of Holdings, the Issuer and their respective Subsidiaries, (vi) holding any cash or Cash Equivalents, (vii) providing indemnification to officers and directors, (viii) engaging professional advisors; (ix) ownership of Cash, Cash Equivalents, goodwill and intangible assets; (x) the making or issuance of Curative Equity, and (xi) any activities incidental to the foregoing. Holdings shall not directly own any Equity Interests other than those of RBP Global.

Section 6.16 <u>Material</u> <u>Asset Transactions</u>. Notwithstanding anything herein to the contrary, no transfers, Dispositions, "drop-down" transactions, exclusive licensing, asset swaps, asset exchange (including for cash and/or other assets), investments (including Investments) or any similar transactions (including, without limitation, by use of any equity (including preferred equity and similar instruments) contribution, securitization, Investment, Indebtedness, Restricted Debt Payment, Restricted Payment, Transaction with Affiliates, sale and leaseback transaction, Subsidiary Distribution, Restricted Subsidiaries and/or Unrestricted Subsidiaries provisions or permissions and/or any reclassification permissions under this Agreement) shall be permitted with respect to any Material Asset (each, a "**Material Asset Transaction**") unless (i) the relevant recipient, transferee, investee, exclusive licensee or acquirer (or any similar capacity) of such Material Asset subject to that Material Asset Transaction is (or becomes, no later than the date of completion of such Material Asset Transaction) a Note Party, (ii) such Material Asset Transaction is subject to arm's length terms and for fair market value, (iii) no Default or Event of Default has occurred and is continuing as of the date of completion of such Material Asset Transaction (or would result therefrom), (iv) the Administrative Agent is notified in writing of the contemplated Material Asset Transaction at least ten (10) Business Days prior to its completion (or, if earlier, at least ten (10) Business Days prior to the date of entry by the relevant Person into any binding documentation in respect of such Material Asset Transaction), and such notification includes reasonable details as to such Material Asset and Material Asset Transaction, and (v) where such Material Asset was subject to a Lien created under a Collateral Document, a similar Lien is granted by that Note Party prior to (or concurrently with) the completion of such transaction in favor of the Administrative Agent, for the benefit of itself and the other Secured Parties under a Collateral Document, and no release of the existing Lien shall be permitted until (unless concurrently) such new Lien is granted in favor of the Administrative Agent, for the benefit of itself and the other Secured Parties to secure the Secured Obligations.

Section 6.17 <u>Account Control Agreements.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The applicable Note Parties shall, by no later than the date falling sixty (60) days after the Closing Date (or such later date as the Administrative Agent shall agree to in writing), enter into a springing account control agreement, in form and substance reasonably satisfactory to the Administrative Agent (a "**Springing Account Control Agreement**"), with respect to the Original DACA Account and shall ensure that such Springing Account Control Agreement remains in place over such Original DACA Account at any time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Following the occurrence and during the continuance of a Material Event of Default, the Issuer and each of the Note Parties shall (i) not proceed with any transactions with respect to Deposit Accounts or Securities Accounts having an aggregate cash balance of $50,000,000 or more across all such accounts until Springing Account Control Agreements are entered into with respect to the relevant Deposit Account or Securities Accounts, and (ii) within ten (10) Business Days of such occurrence, enter into Springing Account Control Agreements in form and substance reasonably satisfactory to the Administrative Agent with respect to each Deposit Account and each Securities Account (excluding, in each case, any Excluded Account) as of the relevant date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) There shall be no less than one Deposit Account subject to a Springing Account Control Agreement at any time after the establishment of the initial Springing Account Control Agreement in accordance with Section 6.17(a).

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Section 6.18 <u>Other Obligations</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Issuer shall not, and not permit any other Note Party or any Affiliates or Related Fund to, directly or indirectly, pay or cause to be paid or permit any of their Affiliates or Related Fund to pay any consideration, whether by way of interest, fee or otherwise, to any Holder (excluding the Administrative Agent) in consideration for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Agreement or the Notes unless such consideration is concurrently offered to be paid or is concurrently paid to all Holders that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent, waiver or agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Issuer shall not make any offer or sale of securities of any class of any Note Party if, as a result of the doctrine of "integration" referred to in Rule 502 under the Securities Act, such offer or sale would render invalid (for the purpose of the sale of the Notes to the Holders) any applicable exemption from the registration requirements of the Securities Act provided by Section 4(2) thereof or otherwise.

ARTICLE 7

EVENTS OF DEFAULT

Section 7.01 <u>Events of Default</u>. If any of the following events (each, an "**Event of Default**") shall occur:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Failure To Make Payments When Due</u>. Failure by the Issuer to pay (i) any installment of principal of any Note when due, whether at stated maturity, by acceleration, by notice of voluntary prepayment, by mandatory prepayment or otherwise; or (ii) any interest on any Note or any fee or any other amount due hereunder within five Business Days after the date due; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Default in Other Agreements</u>. (i) Failure by any Note Party or any of its Restricted Subsidiaries or Holdings to pay when due any principal of or interest on or any other amount payable in respect of one or more items of Indebtedness (other than Indebtedness referred to in <u>clause (a)</u> above) with an aggregate outstanding principal amount exceeding the Threshold Amount, in each case beyond the grace period, if any, provided therefor; or (ii) breach or default by any Note Party or any of its Restricted Subsidiaries or Holdings with respect to any other term of (A) one or more items of Indebtedness with an aggregate outstanding principal amount exceeding the Threshold Amount or (B) any note purchase agreement, loan agreement, mortgage, indenture or other agreement relating to such item(s) of Indebtedness (other than, for the avoidance of doubt, with respect to Indebtedness consisting of Hedging Obligations, termination events or equivalent events pursuant to the terms of the relevant Hedge Agreement which are not the result of any default thereunder by any Note Party or any Restricted Subsidiary or Holdings), in each case beyond the grace period, if any, provided therefor, if the effect of such breach or default is to cause, or to permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause, such Indebtedness to become or be declared due and payable (or redeemable) prior to its stated maturity or the stated maturity of any underlying obligation, as the case may be; <u>provided</u> that <u>clause (ii)</u> of this <u>paragraph (b)</u> shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property securing such Indebtedness if such sale or transfer is permitted hereunder and under the documents governing or evidencing such Indebtedness, and so long as repayments are made as required by the terms of such Indebtedness; <u>provided</u>, <u>further</u>, that any failure described under <u>clause</u> <u>(i)</u> or <u>(ii)</u> above is unremedied and is not waived by the holders of such Indebtedness prior to any termination of the Commitments or acceleration of the Notes pursuant to <u>Article</u> <u>7</u> or other exercise of remedies under any Notes 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;(c) <u>Breach of Certain Covenants</u>. Failure of any Note Party, as required by the relevant provision, to perform or comply with any term or condition contained in <u>Section</u> <u>5.01(e)(i)</u>, <u>Section</u> <u>5.02</u> (as it applies to the preservation of the existence of Holdings or the Issuer), <u>Section</u> <u>5.16</u>, or <u>Article</u> <u>6</u> (subject, in the case of Section <u>6.14(a)</u> and (b), to Section <u>6.14(c)</u>); 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) <u>Breach of Representations, Etc</u>. Any representation, warranty or certification made or deemed made by any Note Party or Holdings in any Notes Document or in any certificate required to be delivered in connection herewith or therewith (including, for the avoidance of doubt, any Perfection Certificate and any Perfection Certificate Supplement) being untrue in any material respect as of the date made or deemed made; 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) <u>Other Defaults Under Notes Documents</u>. Default by any Note Party or Holdings in the performance of or compliance with any term contained herein or any of the other Notes Documents, other than any such term referred to in any other Section of this <u>Article 7</u>, which default has not been remedied or waived within 30 days after receipt by the Issuer of written notice thereof 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;(f) <u>Involuntary Bankruptcy; Appointment of Receiver, Etc</u>. (i) The entry by a court of competent jurisdiction of a decree or order for relief in respect of Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) in an involuntary case under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed (or the declaration of or any procedure or step is taken in relation to a moratorium in respect of the Indebtedness of any English Group Member or any Irish Group Member (other than an Immaterial Subsidiary)); or any other similar relief shall be granted under any applicable federal, state or local law; or (ii) the commencement of an involuntary case against Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) under any Debtor Relief Law; the entry by a court having jurisdiction in the premises of a decree or order for the appointment of (or in respect of any English Group Member, a Jersey Group Member (if any) or any Irish Group Member of, any corporate action, legal proceeding or other procedure or step is taken in relation to the appointment of) a receiver, an administrative receiver, an administrator, a receiver and manager, a compulsory manager, a (preliminary) insolvency receiver, liquidator, sequestrator, trustee, custodian, examiner, process advisor or other officer having similar powers over Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary), or over all or a substantial part of its property, or (in respect of an English Group Member, a Jersey Group Member (if any) or an Irish Group Member (other than an Immaterial Subsidiary) the enforcement of any security over any of its assets); or the involuntary appointment of an interim receiver, trustee or other custodian of Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) for all or a substantial part of its property, which remains undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days, or, solely to the extent a Lux Note Party is a party to this Agreement, a Luxembourg Insolvency Event, shall have occurred with respect to any Lux Note Party, provided that, in the case of an involuntary filing for bankruptcy (*faillite*) or judicial liquidation (*liquidation forcée*), such proceeding shall have been undismissed, unvacated, unbounded or unstayed pending appeal for 60 consecutive days; 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) <u>Voluntary Bankruptcy; Appointment of Receiver, Etc</u>. (i) The entry against Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) of an order for relief, the commencement by Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) of a voluntary case under any Debtor Relief Law, or the consent by Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) to the entry of an order for relief in an involuntary case or to the conversion of an involuntary case to a voluntary case, under any

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Debtor Relief Law, or the consent by Holdings, the Issuer or any of their Restricted Subsidiaries (other than any Immaterial Subsidiary) to the appointment of or taking possession by a receiver, receiver and manager, trustee or other custodian for all or a substantial part of its property; (ii) the making by Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) of a general assignment for the benefit of creditors; (iii) any English Group Member, a Jersey Group Member (if any) or an Irish Group Member (other than any Immaterial Subsidiary) is unable to pay its debts as they fall due or is deemed to, or is declared to, be unable to pay its debts under English law, Jersey Law (if applicable) or Irish law as the case may be or suspends or resolves or declares in writing an intention to suspend making payments on any of its debts; or (iv) the admission by Holdings, the Issuer or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) in writing of their inability to pay their respective debts as such debts become due; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) <u>Judgments and Attachments</u>. The entry or filing of one or more (i) final money judgments, writs or warrants of attachment or similar process against Holdings, the Issuer or any of its Restricted Subsidiaries or any of their respective assets involving in the aggregate at any time an amount in excess of the Threshold Amount (in either case to the extent not adequately covered by self-insurance (if applicable) or by insurance as to which the relevant third party insurance company has been notified and not denied coverage), which judgment, writ, warrant or similar process remains unpaid, undischarged, unvacated, unbonded or unstayed pending appeal for a period of 60 days, or (ii) any final, unappealable judgments, writs or warrants of attachment or similar process (including judgments granting injunctive relief) against Holdings, the Issuer or any of its Restricted Subsidiaries or any of their respective assets which would have or would be reasonably likely to result in 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;(i) <u>Employee Benefit Plans</u>. The occurrence of one or more ERISA Events, which individually or in the aggregate result in liability of Holdings, the Issuer or any of its Restricted Subsidiaries in an aggregate amount which would reasonably be expected to result in 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;(j) <u>Change of Control</u>. The occurrence of a Change of Control; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) <u>Subordination</u>. The Obligations ceasing or the assertion in writing by any Note Party that the Obligations cease to constitute senior indebtedness under the subordination provisions of any document or instrument evidencing any permitted Subordinated Indebtedness in excess of the Threshold Amount or any such subordination provision being invalidated or otherwise ceasing, for any reason, to be valid, binding and enforceable obligations of the parties 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;(m) <u>Pensions</u>. The Pensions Regulator issues a Financial Support Direction or a Contribution Notice to any Parent Company or subsidiary thereof imposing liability on one or more Issuer in an aggregate amount which has or would 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;(n) <u>Healthcare and Regulatory Events</u>. The occurrence of any of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&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) the voluntary withdrawal or institution of any action or proceeding by the FDA, the DEA, the US DHHS or any other Governmental Authority to order the withdrawal of any Product or Product category from the market or to enjoin Issuer, its Subsidiaries or any representative of Issuer or its Subsidiaries from manufacturing, marketing, selling or distributing any Product or Product category, where such withdrawal or injunction has or could reasonably be expected to result in 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;(ii) the institution of any action or proceeding by the FDA, the DEA, the US DHHS or any other Governmental Authority to revoke, suspend, reject, withdraw, limit, or restrict any Regulatory Required Permit held by Issuer, its Subsidiaries or any representative of Issuer or its Subsidiaries, which, in each case, has or could reasonably be expected to result in 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;(iii) the commencement of any enforcement action against Issuer, its Subsidiaries or any representative of Issuer or its Subsidiaries (with respect to the business of Issuer or its Subsidiaries) by the FDA, the DEA, the US DHHS or any other Governmental Authority which has 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;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the invalidation, revocation or lapse of any IP Rights of the Issuer or any of its Subsidiaries, prior to the end of the term of such IP Rights which, in each case, has 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;&nbsp;&nbsp;&nbsp;&nbsp;(v) the occurrence of adverse test results in connection with a Product which could result in 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;(vi) the failure of any of the Issuer or its Subsidiaries, as required by the relevant provision, to perform or comply with any term or condition contained in a Corporate Integrity Agreement which has 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;&nbsp;&nbsp;&nbsp;&nbsp;(vii) the entering into a guilty plea to a felony or corporate crime by any of the Issuer or its Subsidiaries with any relevant 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;&nbsp;&nbsp;&nbsp;&nbsp;(viii) the removal of, or threat by the relevant Governmental Authority or Material Third Party Payor to remove, any of the Issuer or its Subsidiaries from any Material Third Party Payor Program; or then, and in every such event (other than an event with respect to the Issuer (other than the Issuer, to the extent such event does not arise under a Debtor Relief Law of the U.S.) described in <u>clause (f)</u> or <u>(g)</u> of this Article) and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Holders shall, by notice to the Issuer, take any of the following actions, at the same or different times: (i) terminate the Variable Note Commitments, or any Additional Note Commitments, and thereupon such Commitments and/or Additional Note Commitments shall terminate immediately and (ii) declare the Notes 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 Notes so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Issuer 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 Issuer; <u>provided</u> that upon the occurrence of an event with respect to the Issuer (other than the Issuer, to the extent such event does not arise under a Debtor

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Relief Law of the U.S.) described in <u>clause (f)</u> or <u>(g)</u> of this Article, any such Commitments and/or Additional Note Commitments shall automatically terminate and the principal of the Notes then outstanding, together with accrued interest thereon and all fees and other obligations of the Issuer accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Issuer, in each case without further action of the Administrative Agent or any Holder. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent may, and at the request of the Required Holders shall, exercise any rights and remedies provided to the Administrative Agent under the Notes Documents or at law or equity, including all remedies provided under the UCC or any other applicable law. If Administrative Agent has received written notice from Issuer of Issuer' intent to cure a Specified Financial Covenant Default in accordance with <u>Section</u> <u>6.14(c)</u>, then Administrative Agent and the Required Holders may not exercise any the foregoing remedies in this <u>Section</u> <u>7.01</u> with respect to that Specified Financial Covenant Default until the earlier of (i) 10 Business Days after the day on which financial statements are required to be delivered for the applicable Test Period pursuant to <u>Section</u> <u>5.01(a)</u>, and (ii) the date that Administrative Agent receives notice Issuer will not cure that Specified Financial Covenant Default in accordance with <u>Section</u> <u>6.14(c)</u>.

ARTICLE 8

THE ADMINISTRATIVE AGENT

Each of the Holders hereby irrevocably appoints Piper Sandler Finance LLC (or any successor appointed pursuant hereto) as Administrative Agent and authorizes the Administrative Agent to take such actions on its behalf, including execution of the other Notes Documents, and to exercise such powers as are delegated to the Administrative Agent by the terms of the Notes Documents, together with such actions and powers as are reasonably incidental thereto.

The Administrative Agent shall act as security trustee in relation to the security created or evidenced by the English Security Documents, the Jersey Security Documents (if any) and the Irish Security Documents. Each Holder hereby authorizes the Administrative Agent to enter into each Security Trust Deed on its behalf. Each Person that becomes a Holder hereunder after the Closing Date hereby confirms that it shall be bound by the terms of the Security Trust Deeds on and from the date on which it becomes an Additional Purchaser as if it were an original Holder party thereto. In addition, each reference to the Administrative Agent in this <u>Article 8</u> (including in connection with any indemnification or exculpation provided herein for the benefit of the Administrative Agent) shall be deemed to apply to the Administrative Agent acting in its capacity as security trustee under the Security Trust Deeds.

Any Person serving as Administrative Agent hereunder shall have the same rights and powers in its capacity as a Holder as any other Holder and may exercise the same as though it were not the Administrative Agent, and the term "Holder" or "Holders" shall, unless otherwise expressly indicated, unless the context otherwise requires or unless such Person is in fact not a Holder, include each Person serving as Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with any Note Party or any subsidiary of any Note Party or other Affiliate thereof as if it were not the Administrative Agent hereunder. The Holders acknowledge that, pursuant to such activities, the Administrative Agent or its Affiliates may receive information regarding any Note Party or any of its Affiliates (including information that may be subject to confidentiality obligations in favor of such Note Party or such Affiliate) and acknowledge that the Administrative Agent shall not, except as expressly provided herein, be under any obligation to provide such information to them.

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The Administrative Agent shall not have any duties or obligations except those expressly set forth in the Notes Documents. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default exists, and the use of the term "agent" herein and in the other Notes Documents 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; it being understood that 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, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary power, except discretionary rights and powers that are expressly contemplated by the Notes Documents and which the Administrative Agent is required to exercise in writing as directed by the Required Holders or Required Variable Note Holders (or such other number or percentage of the Holders as shall be necessary under the relevant circumstances as provided in <u>Section</u> <u>9.02</u>); <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 Notes Document or applicable laws, and (c) except as expressly set forth in the Notes Documents, the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to Holdings, the Issuer or any of their Restricted Subsidiaries that is communicated to or obtained by the Person serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable to the Holders or any other Secured Party for any action taken or not taken by it with the consent or at the request of the Required Holders or Required Variable Note Holders (or such other number or percentage of the Holders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the relevant circumstances as provided in <u>Section</u> <u>9.02</u>) or in the absence of its own gross negligence or willful misconduct, as determined by the final, unappealable judgment of a court of competent jurisdiction, in connection with its duties expressly set forth herein. The Administrative Agent shall not be deemed to have knowledge of any Default or Event of Default unless and until written notice thereof is given to the Administrative Agent by the Issuer or any Holder, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Notes Document, (ii) the contents of any certificate, report or other document delivered hereunder or in connection with any Notes Document, (iii) the performance or observance of any covenant, agreement or other term or condition set forth in any Notes Document or the occurrence of any Default or Event of Default, (iv) the validity, enforceability, effectiveness or genuineness of any Notes Document or any other agreement, instrument or document, (v) the creation, perfection or priority of any Lien on the Collateral or the existence, value or sufficiency of the Collateral, (vi) the satisfaction of any condition set forth in <u>Article 4</u> or elsewhere in any Notes Document, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent or (vii) any property, book or record of any Note Party or any Affiliate thereof.

If any Holder acquires knowledge of a Default or Event of Default, it shall promptly notify the Administrative Agent and the other Holders thereof in writing. Each Holder agrees that, except with the written consent of the Administrative Agent, it will not take any enforcement action hereunder or under any other Notes Document, accelerate the Obligations under any Notes Document, or exercise any right that it might otherwise have under applicable law or otherwise to credit bid at any foreclosure sale, UCC sale, any sale under Section 363 of the Bankruptcy Code or other similar Dispositions of Collateral. Notwithstanding the foregoing, however, a Holder may take action to preserve or enforce its rights against a Note Party where a deadline or limitation period is applicable that would, absent such action, bar enforcement of the Obligations held by such Holder, including the filing of a proof of claim in a case under the Bankruptcy Code.

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Notwithstanding anything to the contrary contained herein or in any of the other Notes Documents, each Issuer, the Administrative Agent and each Secured Party agree that (i) no Secured Party shall have any right individually to realize upon any of the Collateral or to enforce the Note Guaranty; it being understood and agreed that all powers, rights and remedies hereunder may be exercised solely by, the Administrative Agent, on behalf of the Secured Parties in accordance with the terms hereof and all powers, rights and remedies under the other Notes Documents may be exercised solely by, the Administrative Agent, and (ii) in the event of a foreclosure by the Administrative Agent on any of the Collateral pursuant to a public or private sale or in the event of any other Disposition (including pursuant to Section 363 of the Bankruptcy Code or any other applicable law), (A) the Administrative Agent, as agent for and representative of the Secured Parties, shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such sale, to use and apply any of the Obligations as a credit on account of the purchase price for any Collateral payable by the Administrative Agent at such Disposition and (B) the Administrative Agent or any Holder may be the purchaser or licensor of any or all of such Collateral at any such Disposition.

No holder of any Secured Hedging Obligation or Banking Services Obligation in its respective capacity as such shall have any rights in connection with the management or release of any Collateral or of the obligations of any Note Party under this Agreement.

Each of the Holders hereby irrevocably authorizes (and by entering into a Hedge Agreement with respect to any Secured Hedging Obligation and/or by entering into documentation in connection with, or otherwise providing, any Banking Services Obligation, each of the other Secured Parties hereby authorizes and shall be deemed to authorize) the Administrative Agent, on behalf of all Secured Parties to take any of the following actions upon the instruction of the Required Holders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) consent to the Disposition of all or any portion of the Collateral free and clear of the Liens securing the Secured Obligations in connection with any Disposition pursuant to the applicable provisions of the Bankruptcy Code, including Section 363 thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) credit bid all or any portion of the Secured Obligations, or purchase all or any portion of the Collateral (in each case, either directly or through one or more acquisition vehicles), in connection with any Disposition of all or any portion of the Collateral pursuant to the applicable provisions of the Bankruptcy Code, including under Section 363 thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) credit bid all or any portion of the Secured Obligations, or purchase all or any portion of the Collateral (in each case, either directly or through one or more acquisition vehicles), in connection with any Disposition of all or any portion of the Collateral pursuant to the applicable provisions of the UCC, including pursuant to Sections 9-610 or 9-620 of the UCC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) credit bid all or any portion of the Secured Obligations, or purchase all or any portion of the Collateral (in each case, either directly or through one or more acquisition vehicles), in connection with any foreclosure or other Disposition conducted in accordance with applicable law following the occurrence of an Event of Default, including by power of sale, judicial action or otherwise; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) estimate the amount of any contingent or unliquidated Secured Obligations of such Holder or other Secured Party; <u>provided</u> that, in the case of a Secured Hedging Obligation, the Administrative Agent shall be entitled to rely upon (without any further investigation) the termination or mark-to-market value, if any, provided to the Administrative Agent by the relevant counterparty; it being understood that no Holder shall be required to fund any amount in connection with any purchase of all or any portion of the Collateral by the Administrative Agent pursuant to the foregoing <u>clause</u> <u>(b)</u>, <u>(c)</u> or <u>(d)</u> without its prior written consent.

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Each Secured Party agrees that the Administrative Agent is under no obligation to credit bid any part of the Secured Obligations or to purchase or retain or acquire any portion of the Collateral; <u>provided</u> that, in connection with any credit bid or purchase described under <u>clause</u> <u>(b)</u>, <u>(c)</u> or <u>(d)</u> of the preceding paragraph, the Secured Obligations owed to all of the Secured Parties (other than with respect to contingent or unliquidated liabilities as set forth in the next succeeding paragraph) may be, and shall be, credit bid by the Administrative Agent on a ratable basis.

With respect to each contingent or unliquidated claim that is a Secured Obligation, the Administrative Agent is hereby authorized, but is not required, to estimate the amount thereof for purposes of any credit bid or purchase described in the second preceding paragraph so long as the estimation of the amount or liquidation of such claim would not unduly delay the ability of the Administrative Agent to credit bid the Secured Obligations or purchase the Collateral in the relevant Disposition. In the event that the Administrative Agent, in its sole and absolute discretion, elects not to estimate any such contingent or unliquidated claim or any such claim cannot be estimated without unduly delaying the ability of the Administrative Agent to consummate any credit bid or purchase in accordance with the second preceding paragraph, then any contingent or unliquidated claims not so estimated shall be disregarded, shall not be credit bid, and shall not be entitled to any interest in the portion or the entirety of the Collateral purchased by means of such credit bid.

Each Secured Party whose Secured Obligations are credit bid under <u>clause</u> <u>(b)</u>, <u>(c)</u> or <u>(d)</u> of the third preceding paragraph shall be entitled to receive interests in the Collateral or any other asset acquired in connection with such credit bid (or in the Capital Stock of the acquisition vehicle or vehicles that are used to consummate such acquisition) on a ratable basis in accordance with the percentage obtained by dividing (x) the amount of the Secured Obligations of such Secured Party that were credit bid in such credit bid or other Disposition, by (y) the aggregate amount of all Secured Obligations that were credit bid in such credit bid or other Disposition.

In addition, in case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Note Party, each Secured Party agrees that the Administrative Agent (irrespective of whether the principal of any Note is then 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 Issuer) 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;(i) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Notes and all other Secured 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 Holders and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Holders and the Administrative Agent and their respective agents and counsel and all other amounts to the extent due to the Holders and the Administrative Agent under <u>Sections 2.12</u> and <u>9.03</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;(ii) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same, and if the Administrative Agent collects or receives any money or other property payable or deliverable on other claims of Secured Parties, to distribute the same to such Secured Parties as their interests may appear hereunder.

Any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Administrative Agent and, in the event that the Administrative Agent consents to the making of such payments directly to the Holders, 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 amount due to the Administrative Agent under <u>Sections</u> <u>2.12</u> and <u>9.03</u>.

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

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 Note, that by its terms must be fulfilled to the satisfaction of a Holder, the Administrative Agent may presume that such condition is satisfactory to such Holder unless the Administrative Agent has received notice to the contrary from such Holder prior to the making of such Note. The Administrative Agent may consult with legal counsel (who may be counsel for any Note Parties), 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 Administrative Agent may perform any and all of its duties and exercise its rights and powers by or through any one or more sub-agents appointed by it. The Administrative Agent and any such sub-agent may perform any and all of their respective duties and exercise their respective rights and powers through their respective Related Parties.

The Administrative Agent may resign at any time by giving ten days' written notice to the Holders and the Issuer. If the Administrative Agent becomes subject to an insolvency proceeding, either the Required Holders or the Issuer may, upon ten days' notice, remove the Administrative Agent. Upon receipt of any such notice of resignation or delivery of any such notice of removal, the Required Holders shall have the right, with the consent of the Issuer (not to be unreasonably withheld or delayed), to appoint a successor Administrative Agent which shall be a commercial bank or trust company with offices in the U.S. having combined capital and surplus in excess of $1,000,000,000; <u>provided</u> that during the existence and continuation of an Event of Default under <u>Section</u> <u>7.01(a)</u> or, with respect to Holdings or the Issuer, <u>Section</u> <u>7.01(f)</u> or <u>(g)</u>, no consent of the Issuer shall be required. If no successor shall have been appointed as provided above and accepted such appointment within ten days after the retiring Administrative Agent gives notice of its resignation or the Administrative Agent receives notice of removal, then (a) in the case of a retirement, the retiring Administrative Agent may (but shall not be obligated to), on behalf of the Holders, appoint a successor Administrative Agent meeting the qualifications set forth above (including, for the avoidance of doubt, consent of the Issuer, to the extent required) or (b) in the case of a removal, the Issuer may, after consulting with the Required Holders, appoint a successor Administrative Agent meeting the qualifications set forth above; <u>provided</u> that (x) in the case of a retirement, if the Administrative Agent notifies the Issuer and the Holders that no qualifying Person has accepted such appointment or (y) in the case of a removal, the Issuer notifies the Required Holders that no qualifying Person has accepted such appointment, then, in each case, such resignation or removal shall nonetheless become effective in accordance with and on the 30th day following delivery of such notice and (i) the retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Notes Documents (except that in the case of any collateral security held by the Administrative Agent in its capacity as collateral agent for the Secured Parties for perfection purposes, the retiring or removed Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (ii) all payments, communications and determinations required to

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be made by, to or through the Administrative Agent shall instead be made by or to each Holder directly (and each Holder will cooperate with the Issuer to enable the Issuer to take such actions), until such time as the Required Holders or the Issuer, as applicable, appoint a successor Administrative Agent, as provided for above in this <u>Article 8</u>. Upon the acceptance of its appointment as Administrative Agent hereunder as a successor Administrative Agent, such successor Administrative Agent shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring or removed Administrative Agent (other than any rights to indemnity payments owed to the retiring Administrative Agent), and the retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder (other than its obligations under <u>Section</u> <u>9.13</u>). The fees payable by the Issuer to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Issuer and such successor Administrative Agent. After the Administrative Agent's resignation or removal hereunder, the provisions of this Article and <u>Section</u> <u>9.03</u> shall continue in effect for the benefit of such retiring or removed Administrative Agent, its sub-agents and their respective Related Parties in respect of any action taken or omitted to be taken by any of them while the relevant Person was acting as Administrative Agent (including for this purpose holding any collateral security following the retirement or removal of the Administrative Agent). Notwithstanding anything to the contrary herein, no Disqualified Institution (nor any Affiliate thereof) may be appointed as a successor Administrative Agent.

Each Holder acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Holder or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Holder also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Holder 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 Notes Document or related agreement or any document furnished hereunder or thereunder. Except for notices, reports and other documents expressly required to be furnished to the Holders by the Administrative Agent herein, the Administrative Agent shall not have any duty or responsibility to provide any Holder with any credit or other information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any of the Note Parties or any of their respective Affiliates which may come into the possession of the Administrative Agent or any of its Related Parties.

Notwithstanding anything to the contrary herein, the Administrative Agent shall not have any right, power, obligation, liability, responsibility or duty under this Agreement, except in their respective capacities as the Administrative Agent or a Holder hereunder, as applicable.

Each Secured Party irrevocably authorizes and instructs the Administrative Agent to, and the Administrative Agent 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;(a) release any Lien on any property granted to or held by Administrative Agent under any Notes Document (i) upon the occurrence of the Termination Date, (ii) that is sold or transferred as part of or in connection with any Disposition permitted under the Notes Documents to a Person that is not, or is not required to become, a Note Party, (iii) that does not constitute (or ceases to constitute) Collateral, (iv) if the property subject to such Lien is owned by a Subsidiary Guarantor, upon the release of such Subsidiary Guarantor from its Note Guaranty otherwise in accordance with the Notes Documents or (v) if approved, authorized or ratified in writing by the Required Holders (or all Holders, as required) in accordance with <u>Section</u> <u>9.02</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;(b) subject to <u>Section</u> <u>9.21</u>, release any Subsidiary Guarantor from its obligations under the Note Guaranty if such Person ceases to be a Restricted Subsidiary (or becomes an Excluded Subsidiary as a result of a single transaction or series of related transactions permitted hereunder; <u>provided</u> that the release of any Subsidiary Guarantor from its obligations under the Note Guaranty if such Subsidiary Guarantor becomes an Excluded Subsidiary of the type described in <u>clause (a)</u> of the definition thereof shall only be permitted if at the time such Guarantor becomes an Excluded Subsidiary of such type (1) no Event of Default exists, (2) after giving pro forma effect to such release and the consummation of the transaction that causes such Person to be an Excluded Subsidiary of such type, the applicable Issuer is deemed to have made a new Investment in such Person for purposes of <u>Section</u> <u>6.06</u> (as if such Person were then newly acquired) in an amount equal to the portion of the fair market value of the net assets of such Person attributable to such Issuer's equity interest therein as reasonably estimated by the applicable Issuer and such Investment is permitted pursuant to <u>Section</u> <u>6.06</u> (other than <u>Section</u> <u>6.06(f)</u>) at such time and (3) a Responsible Officer of the applicable Issuer certifies to the Administrative Agent compliance with preceding <u>clauses (1)</u> and <u>(2)</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;(c) subordinate any Lien on any property granted to or held by the Administrative Agent under any Notes Document to the holder of any Lien on such property that is permitted by <u>Sections</u> <u>6.02(d)</u>, <u>6.02(e)</u>, <u>6.02(g)</u>, <u>6.02(m)</u>, <u>6.02(n)</u>, <u>6.02(r)</u>, <u>6.02(x)</u>, <u>6.02(y)</u>, <u>6.02(z)(i)</u>, <u>6.02(bb)</u>, <u>6.02(cc)</u>, <u>6.02(ee)</u>, and <u>6.02(ff)</u> (and any Refinancing Indebtedness in respect of any thereof to the extent such Refinancing Indebtedness is permitted to be secured under <u>Section</u> <u>6.02(k))</u>; <u>provided</u>, that the subordination of any Lien on any property granted to or held by the Administrative Agent shall only be required to the extent that the Lien of the Administrative Agent with respect to such property is required to be subordinated to the relevant Permitted Lien in accordance with applicable law or the documentation governing the Indebtedness that is secured by such Permitted Lien; 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;(d) enter into subordination, intercreditor and/or similar agreements with respect to Indebtedness that is (i) required or permitted to be subordinated hereunder and/or (ii) secured by Liens, and with respect to which Indebtedness, this Agreement contemplates an intercreditor, subordination or collateral trust agreement.

Upon the request of the Administrative Agent at any time, the Required Holders will confirm in writing the Administrative Agent's authority to release or subordinate its interest in particular types or items of property, or to release any Note Party from its obligations under the Note Guaranty or its Lien on any Collateral pursuant to this <u>Article 8</u>. In each case as specified in this <u>Article 8</u>, the Administrative Agent will (and each Holder hereby authorizes the Administrative Agent to), at the Issuer' expense, execute and deliver to the applicable Note Party such documents as such Note Party may reasonably request to evidence the release of such item of Collateral from the assignment and security interest granted under the Collateral Documents or to subordinate its interest therein, or to release such Note Party from its obligations under the Note Guaranty, in each case in accordance with the terms of the Notes Documents and this <u>Article 8</u> and without recourse or warranty of any kind; <u>provided</u> that upon the request of the Administrative Agent, the Issuer shall deliver a certificate of a Responsible Officer certifying that the relevant transaction has been consummated in compliance with the terms of this Agreement.

The Administrative Agent is authorized to enter into any Intercreditor Agreement (including any Permitted Pari Passu Intercreditor Agreement or any Permitted Junior Intercreditor Agreement) contemplated hereby with respect to Indebtedness that is (i) required or permitted to be subordinated hereunder and/or (ii) secured by Liens and which Indebtedness contemplates an intercreditor, subordination or collateral trust agreement (any such intercreditor agreement, an "**Additional Agreement**"), and the parties hereto acknowledge that any such Additional Agreement is binding upon them. Each Holder (a) hereby consents to the subordination of the Liens on the Collateral securing the Secured Obligations on the terms set forth in the any such Additional Agreement, to the extent that such subordination is expressly permitted hereunder, (b) hereby agrees that it will be bound by, and will not take any action contrary to any Additional Agreement and (c) hereby authorizes and instructs the Administrative Agent to enter into any

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Additional Agreement and to subject the Liens on the Collateral securing the Secured Obligations to the provisions thereof. The foregoing provisions are intended as an inducement to the Secured Parties to extend credit to the Issuer, and the Secured Parties are intended third-party beneficiaries of such provisions and the provisions of any Additional Agreement.

To the extent that the Administrative Agent (or any Affiliate thereof) is not reimbursed and indemnified by the Issuer pursuant to <u>Section</u> <u>9.03</u>, the Holders will reimburse and indemnify the Administrative Agent (and any Affiliate thereof) in proportion to their respective Applicable Percentages (for this purpose, calculated to include all Classes of Term Notes and Variable Note Commitments then in existence, but determined as if there were no Defaulting Holders) for and against any and all liabilities, obligations, losses, damages, penalties, claims, actions, judgments, costs, expenses or disbursements of whatsoever kind or nature which may be imposed on, asserted against or incurred by the Administrative Agent (or any Affiliate thereof) in performing its duties hereunder or under any other Notes Document or in any way relating to or arising out of this Agreement or any other Notes Document; <u>provided</u> that no Holder shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, claims, actions, judgments, suits, costs, expenses or disbursements resulting from the Administrative Agent's (or such affiliate's) gross negligence or willful misconduct (as determined by a court of competent jurisdiction in a final and non-appealable decision).

Furthermore:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If the Administrative Agent (x) notifies a Holder or other Secured Party, or any Person who has received funds on behalf of a Holder or other Secured Party (any such Holder, other Secured Party or other recipient, a "**Payment Recipient**") that the Administrative Agent has determined in its reasonable discretion (whether or not after receipt of any notice under immediately succeeding <u>clause (b)</u>) that any funds (as set forth in such notice from the Administrative Agent) received by such Payment Recipient from the Administrative 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 Holder, other Secured Party 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 (y) 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 Administrative Agent pending its return or repayment as contemplated below in this Article 8 and held in trust for the benefit of the Administrative Agent, and such Holder or other Secured Party 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 Business Days thereafter (or such later date as the Administrative Agent may, in its sole discretion, specify in writing), 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 (in the currency so received), together with interest thereon (except to the extent waived in writing by the Administrative 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 Administrative Agent in same day funds 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. A notice of the Administrative 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Without limiting immediately preceding <u>clause (a)</u>, each Holder or other Secured Party, or any Person who has received funds on behalf of a Holder or other Secured Party, hereby further 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 Administrative Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date from, that specified in this

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Agreement or in a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates) with respect to such payment, prepayment or repayment, (y) that was not preceded or accompanied by a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates), or (z) that such Holder or other Secured Party, 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;(i) it acknowledges and agrees that (A) in the case of immediately preceding <u>clauses (x)</u> or <u>(y)</u>, an error and mistake shall be presumed to have been made (absent written confirmation from the Administrative Agent to the contrary) or (B) an error and mistake has been made (in the case of immediately preceding <u>clause (z)</u>),
in each case, with respect to such payment, prepayment or repayment; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) such Holder or other Secured Party 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 Business Day of its knowledge of the occurrence of any of the circumstances described in the immediately preceding <u>clauses (x)</u>, <u>(y)</u> and <u>(z)</u>) notify the Administrative Agent of its receipt of such payment, prepayment or repayment, the details thereof (in reasonable detail) and that it is so notifying the Administrative Agent pursuant to this <u>clause (b)</u>.

For the avoidance of doubt, the failure to deliver a notice to the Administrative Agent pursuant to this <u>clause (b)</u> shall not have any effect on a Payment Recipient's obligations pursuant to <u>clause (a)</u> above or on whether or not an Erroneous Payment has been made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Each Holder or other Secured Party hereby authorizes the Administrative Agent to set off, net and apply any and all amounts at any time owing to such Holder or other Secured Party under any Notes Document, or otherwise payable or distributable by the Administrative Agent to such Holder or other Secured Party under any Notes Document with respect to any payment of principal, interest, fees or other amounts, against any amount that Administrative Agent has demanded to be returned under immediately preceding clause (a) or under the indemnification provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) (i) In the event that an Erroneous Payment (or portion thereof) is not recovered by the Administrative Agent for any reason, after demand therefor in accordance with immediately preceding <u>clause (a)</u>, from any Holder 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 Administrative Agent's notice to such Holder or Issuing Holder at any time, then effective immediately (with the consideration therefor being acknowledged by the parties hereto), (A) such Holder shall be deemed to have assigned its Notes (but not its Commitments) of the relevant Class 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 Administrative Agent may specify) (such assignment of the Notes (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 Administrative Agent in such instance)), and is hereby (together with the Issuer) deemed to execute and deliver an Assignment and Assumption (or, to the extent applicable, an agreement incorporating an Assignment and Assumption by reference pursuant to an approved electronic platform as to which the Administrative Agent and such parties are participants) with respect to such Erroneous Payment Deficiency Assignment, and such Holder shall deliver any Notes evidencing such Notes to the Issuer or the Administrative Agent (but the failure of such Person to deliver any such Notes shall not affect the effectiveness of the foregoing assignment), (B) the Administrative Agent as the assignee Holder shall be deemed to have acquired the Erroneous Payment Deficiency Assignment, (C)

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upon such deemed acquisition, the Administrative Agent as the assignee Holder shall become a Holder hereunder with respect to such Erroneous Payment Deficiency Assignment and the assigning Holder shall cease to be a Holder, 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 Holder, (D) the Administrative Agent and the Issuer shall each be deemed to have waived any consents required under this Agreement to any such Erroneous Payment Deficiency Assignment and (E) the Administrative Agent will reflect in the Register its ownership interest in the Notes subject to the Erroneous Payment Deficiency 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;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Subject to <u>Section</u> <u>9.05</u> (but excluding in all events, any assignment consent or approval requirements (whether from the Issuer or otherwise)), the Administrative Agent may, in its discretion, sell any Notes 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 Holder shall be reduced by the net proceeds of the sale of such Note (or portion thereof), and the Administrative Agent shall retain all other rights, remedies and claims against such Holder (and/or against any recipient that receives funds on its respective behalf). In addition, an Erroneous Payment Return Deficiency owing by the applicable Holder (x) 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 Administrative Agent on or with respect to any such Notes acquired from such Holder pursuant to an Erroneous Payment Deficiency Assignment (to the extent that any such Notes are then owned by the Administrative Agent) and (y) may, in the sole discretion of the Administrative Agent, be reduced by any amount specified by the Administrative Agent in writing to the applicable Holder from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The parties hereto agree that (x) irrespective of whether the Administrative 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 Administrative 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 Holder or other Secured Party, to the rights and interests of such Holder or other Secured Party, as the case may be) under the Notes Documents with respect to such amount (the "**Erroneous Payment Subrogation Rights**") (*provided* that the Note Parties' Secured Obligations under the Notes Documents in respect of the Erroneous Payment Subrogation Rights shall not be duplicative of such Secured Obligations in respect of Notes that have been assigned to the Administrative Agent under an Erroneous Payment Deficiency Assignment) and (y) an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Secured Obligations owed by the Issuer or any other Note Party; *provided* that, for the avoidance of doubt, immediately preceding clauses (x) and (y) 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 Administrative Agent from the Issuer 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;(f) The parties hereto agree that an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed by the Issuer or any other Note 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 Issuer or any other Note Party 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;(g) 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 Administrative Agent for the return of any Erroneous Payment received, including without limitation, any defense based on "discharge for value" or any similar doctrine.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Each party's obligations, agreements and waivers under these <u>clauses (a)</u> through <u>(f)</u> shall survive the resignation or replacement of the Administrative Agent, the termination of the Commitments and/or the repayment, satisfaction or discharge of all Secured Obligations (or any portion thereof) under any Notes Document.

In addition:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Holder (x) represents and warrants, as of the date such Person became a Holder party hereto, to, and (y) covenants, from the date such Person became a Holder party hereto to the date such Person ceases being a Holder party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Issuer or any other Note Party, 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;(i) such Holder 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 Holder's entrance into, participation in, administration of and performance of the Notes, 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;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Holder's entrance into, participation in, administration of and performance of the Notes, 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;(iii) ((A) such Holder 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 Holder to enter into, participate in, administer and perform the Notes, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Notes, 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 Holder, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Holder's entrance into, participation in, administration of and performance of the Notes, 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;(iv) such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Holder or (2) a Holder has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such Holder further (x) represents and warrants, as of the date such Person became a Holder party hereto, to, and (y) covenants, from the date such Person became a Holder party hereto to the date such Person ceases being a Holder party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Issuer or any other Note Party, that the Administrative Agent is not a fiduciary with respect to the assets of such Holder involved in such Holder's entrance into, participation in, administration of and performance of the Notes, the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Notes Document or any documents related hereto or thereto).

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ARTICLE 9

MISCELLANEOUS

Section 9.01 <u>Notices</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except in the case of notices and other communications expressly permitted to be given by telephone (and subject to <u>paragraph (b)</u> below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile or email, as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if to any Note Party, to such Note Party in the care of the Issuer at:

RBP Global Holdings Limited

10710 Midlothian Turnpike

Suite 125

North Chesterfield, USA-VA 23235

Attention: Ryan Preblick, Chief Financial Officer

Email: ryan.preblick@indivior.com

with copy to:

RBP Global Holdings Limited

10710 Midlothian Turnpike

Suite 125

North Chesterfield, USA-VA 23235

Attention: General Counsel

Email: legal@indivior.com

with copy to (which shall not constitute notice to any Note Party):

Troutman Pepper Hamilton Sanders LLP

305 Church at North Hills Street

Suite 1200

Raleigh, NC 27609

Attention: Justin Wood

Email: justin.wood@troutman.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) if to the Administrative Agent or Collateral Agent, at:

Piper Sandler Finance LLC

444 West Lake Street, 33rd Floor

Chicago, IL 60606

Attention: James Chiarelli

Telephone: (312) 267-5122

Email: james.chiarelli@psc.com;

pipersandleragency@alterdomus.com

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with copies (which shall not constitute notice) to:

McDermott Will & Emery LLP

One Vanderbilt Ave

New York, NY 10017

Attention: Riley Orloff

Email: rorloff@mwe.com

-and-

McDermott Will & Emery UK LLP

22 Bishopsgate

London, EC2N 4BQ

Attention: Aymen Mahmoud

Email: amahmoud@mwe.com

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) if to any Purchaser, to it at its address or facsimile number set forth in the Purchaser Schedule; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) if to any Holder, to it at its address or facsimile number set forth in its Administrative Questionnaire.

All such notices and other communications (A) sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when delivered in person or by courier service and signed for against receipt thereof or three Business Days after dispatch if sent by certified or registered mail, in each case, delivered, sent or mailed (properly addressed) to the relevant party as provided in this <u>Section</u> <u>9.01</u> or in accordance with the latest unrevoked direction from such party given in accordance with this <u>Section</u> <u>9.01</u> or (B) sent by facsimile shall be deemed to have been given when sent and when receipt has been confirmed by telephone; <u>provided</u> that received notices and other communications sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, such notices or other communications shall be deemed to have been given at the opening of business on the next Business Day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in <u>clause (b)</u> below shall be effective as provided in such <u>clause</u> <u>(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notices and other communications to the Holders hereunder may be delivered or furnished by electronic communications (including e-mail and Internet or Intranet websites) pursuant to procedures set forth herein or otherwise approved by the Administrative Agent. The Administrative Agent or the Issuer (on behalf of any Note Party) may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures set forth herein or otherwise approved by it; <u>provided</u> that approval of such procedures may be limited to particular notices or communications. All such notices and other communications (i) sent to an e-mail address shall be deemed received upon the sender's receipt of an acknowledgement from the intended recipient (such as by the "return receipt requested" function, as available, return e-mail or other written acknowledgement); <u>provided</u> that if not given during the normal business hours of the recipient, such notice or communication shall be deemed to have been given at the opening of business on the next Business Day for the recipient, and (ii) 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</u> <u>(b)(i)</u> of notification that such notice or communication is available and identifying the website address therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any party hereto may change its address or facsimile number or other notice information hereunder by notice (i) the Administrative Agent, in the case of the Issuer or Holdings, (ii) the Administrative Agent and each Issuer, in the case of a Holder and (iii) the parties hereto, in the case of 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;(d) THE PLATFORM IS PROVIDED "AS IS" AND "AS AVAILABLE". THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE ISSUER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE ISSUER 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 ISSUER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the "**Agent Parties**") have any liability to any Parent Company, the Issuer, any Holder, or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of any Parent Company's, the Issuer's or the Administrative Agent's transmission of Issuer Materials 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 non-appealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; <u>provided</u>, however, that in no event shall any Agent Party have any liability to any Parent Company, the Issuer, any Holder or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Each Public Holder agrees to cause at least one individual at or on behalf of such Public Holder 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 Holder or its delegate, in accordance with such Public Holder's compliance procedures and applicable Law, including U.S. Federal and state and foreign securities laws, to make reference to Issuer Materials that are not made available through the "Public Side Information" portion of the Platform and that may contain material non-public information with respect to Indivior PLC<u>any Applicable Reporting Company</u>, Holdings, the Issuer or their respective subsidiaries and its or their securities for purposes of U.S. Federal or state and foreign securities laws.

Section 9.02 <u>Waivers; Amendments</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) No failure or delay by the Administrative Agent or any Holder in exercising any right or power hereunder or under any other Notes Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent and the Holders hereunder and under any other Notes Document are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of any Notes Document or consent to any departure by any Note Party therefrom shall in any event be effective unless the same is permitted by <u>paragraph (b)</u> of this <u>Section</u> <u>9.02</u>, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, to the extent permitted by law, the making of a Note shall not be construed as a waiver of any Default or Event of Default, regardless of whether the Administrative Agent, any Holder may have had notice or knowledge of such Default or Event of Default at the time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to <u>clauses</u> <u>(A)</u>, <u>(B)</u>, <u>(C)</u> and <u>(D)</u> of this <u>Section</u> <u>9.02(b)</u> and <u>Sections</u> <u>9.02(c)</u> and <u>(d)</u> below, neither this Agreement nor any other Notes Document nor any provision hereof or thereof may be waived, amended or modified, except (i) in the case of this Agreement, pursuant to an agreement or agreements in writing entered into by the Issuer and the Required Holders (or the Administrative Agent with the consent of the Required Holders) or (ii) in the case of any other Notes Document (other than any waiver, amendment or modification to effectuate any modification thereto expressly contemplated by the terms of such other Notes Documents), pursuant to an agreement or agreements in writing entered into by the Administrative Agent and each Note Party that is party thereto, with the consent of the Required Holders; <u>provided</u> that, notwithstanding 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;&nbsp;&nbsp;&nbsp;&nbsp;(i) except with the consent of each Holder directly and adversely affected thereby (but without the consent of the Required Holders other than with respect to (i) an increase in the aggregate amount of Commitments or (ii) provision of additional Collateral to support any increase in the aggregate amount of Commitments), no such waiver, amendment 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;(A) increase the Commitment of such Holder (other than with respect to any Incremental Note Facility pursuant to <u>Section</u> <u>2.22</u> in respect of which such Holder has agreed to be an Additional Purchaser); it being understood that no amendment, modification or waiver of, or consent to departure from, any condition precedent, representation, warranty, covenant, Default, Event of Default, mandatory prepayment or mandatory reduction of the Commitments or Additional Note Commitments shall constitute an increase of any Commitment or Additional Note Commitment of such 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;&nbsp;&nbsp;&nbsp;&nbsp;(B) reduce or forgive the principal amount of any Note or any amount due on any Note Installment 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) (x) extend the scheduled final maturity of any Note or (y) postpone any Note Installment Date, any Interest Payment Date or the date of any scheduled payment of any fee or other amount 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;(D) reduce the rate of interest (other than to waive any Default or Event of Default or obligation of the Issuer to pay interest at the default rate of interest under <u>Section</u> <u>2.13(d)</u>, which shall only require the consent of the Required Holders) or the amount of any fee owed to such Holder; it being understood that no change in the definition of "First Lien Leverage Ratio", "Total Leverage Ratio" or any other ratio used in the calculation of the Applicable Rate, or in the calculation of any other interest or fee due hereunder (including any component definition thereof) shall constitute a reduction in any rate of interest or fee 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;(E) extend the expiry date of such Holder's Commitment; it being understood that no amendment, modification or waiver of, or consent to departure from, any condition precedent, representation, warranty, covenant, Default, Event of Default, mandatory prepayment or mandatory reduction of the Commitments or Additional Note Commitments shall constitute an extension of any Commitment or Additional Note Commitment of any 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;&nbsp;&nbsp;&nbsp;&nbsp;(F) waive, amend or modify the provisions of (i) <u>Section</u> <u>2.18(b)</u> or (ii) <u>2.18(c)</u> of this Agreement, in the case of this <u>clause (ii)</u>, in a manner that would by its terms alter the *pro rata* sharing of payments required thereby (except in connection with any transaction permitted under <u>Sections</u> <u>2.22</u>, <u>2.23</u>, <u>9.02(c)</u> and/or <u>9.05(g)</u> or as otherwise provided in this <u>Section</u> <u>9.02</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;(G) reduce, waive or forgive, or extend the due date of, any premium due in connection with a prepayment or otherwise payable pursuant to <u>Section</u> <u>2.11(f)</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;(H) waive, amend or modify the provisions of <u>Section</u> <u>2.22</u>; 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;(ii) no such waiver, amendment 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;(A) change (x) any of the provisions of <u>Section</u> <u>9.02(a)</u> or <u>Section</u> <u>9.02(b)</u> or the definition of "Required Holders" to reduce any voting percentage required to waive, amend or modify any right thereunder or make any determination or grant any consent thereunder, without the prior written consent of each Holder or (y) the definition of "Required Variable Note Holders" without the prior written consent of each Variable Note Holder (it being understood that the consent of the Required Holders shall not be required in connection with any change to the definition of "Required Variable Note Holders");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) release all or substantially all of the Collateral from the Lien granted pursuant to the Notes Documents (except as otherwise permitted herein or in the other Notes Documents, including pursuant to <u>Article</u> <u>8</u> or <u>Section</u> <u>9.21</u>, in each case, as in effect on the Closing Date), without the prior written consent of each 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;&nbsp;&nbsp;&nbsp;&nbsp;(C) release all or substantially all of the value of the Guarantees under the Note Guaranty (except as otherwise permitted herein or in the other Notes Documents, including pursuant to <u>Section</u> <u>9.21</u> hereof, in each case, as in effect on the Closing Date), without the prior written consent of each 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;&nbsp;&nbsp;&nbsp;&nbsp;(D) adversely affect the Holders under any Class disproportionately to the Holders under any other Class, without the prior written consent of Holders under such disproportionately affected Class holding Term Notes, Variable Note Exposure or unused Commitments under such Class representing more than 50% of the sum of the Term Notes, Variable Note Exposure and unused Commitments under such Class at 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;(E) result in the subordination of the Obligations (or any portion thereof) or the Liens on the Collateral securing the Secured Obligations (or any portion thereof) to any other Indebtedness or claim, without the prior written consent of each Holder,

<u>provided</u>, <u>further</u>, that no agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent hereunder without the prior written consent of the Administrative Agent. The Administrative Agent may also amend the Commitment Schedule to reflect assignments made pursuant to <u>Section</u> <u>9.05</u>, Commitment reductions or terminations pursuant to <u>Section</u> <u>2.09</u>, incurrences of Additional Note Commitments, Additional Notes, Replacement Term Notes or Replacement Variable Notes pursuant to <u>Section</u> <u>2.22</u>, <u>2.23</u> or <u>9.02(c)</u> and reductions or terminations of any such Additional Note Commitments or Additional Notes. Notwithstanding anything to the contrary herein, no Defaulting Holder shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that the Commitment of any Defaulting Holder may not be increased without the consent of such Defaulting Holder (it being understood that any Commitment or Note held or deemed held by any Defaulting Holder shall be excluded from any vote hereunder that requires the consent of any Holder, except as expressly provided in <u>Section</u> <u>2.21(b)</u>). Notwithstanding the foregoing, this Agreement may be amended (or amended and restated) with the written consent of the Required Holders, the Administrative Agent and the Issuer (i) to add one or more additional credit facilities to this Agreement and to permit any extension of credit from time to time outstanding thereunder and the accrued interest and fees in respect thereof to share ratably in the relevant benefits of this Agreement and the other Notes Documents and (ii) to include appropriately the Holders holding such credit facilities in any determination of the Required Holders on substantially the same basis as the Holders prior to such inclusion.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding the foregoing, this Agreement may be amended:

&nbsp;&nbsp;&nbsp;&nbsp;&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) with the written consent of the Issuer and the Holders providing the relevant Replacement Term Notes to permit the refinancing or replacement of all or any portion of the outstanding Initial Term Notes or any then-existing Additional Term Notes under the applicable Class (any such notes being refinanced or replaced, the "**Replaced Term Notes**") with one or more replacement term Notes hereunder ("**Replacement Term Notes**") pursuant to a Refinancing Amendment; <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;(A) the aggregate principal amount of any Replacement Term Notes shall not exceed the aggregate principal amount of the Replaced Term Notes (*plus* (1) any additional amounts permitted to be incurred under <u>Section</u> <u>6.01(a)</u>, <u>(q)</u>, <u>(u)</u>, <u>(w)</u> and/or <u>(z)</u> and, to the extent any such additional amounts are secured, the related Liens are permitted under <u>Section</u> <u>6.02(k)</u> (with respect to Liens securing Indebtedness permitted by <u>Section</u> <u>6.01(a)</u>, <u>(q)</u>, <u>(u)</u>, <u>(w)</u> or <u>(z)</u>), <u>(o)</u>, <u>(u)</u> and/or <u>(ii)</u>, in each case, so long as such additional amounts, and any indebtedness, are incurred in accordance with, and justified under, such provisions and *plus* (2) the amount of accrued interest and premium (including tender premium) thereon and underwriting discounts, fees (including upfront fees and original issue discount), commissions and expenses 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) any Replacement Term Notes must have a final maturity date that is equal to or later than the final maturity date of, and have a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Replaced Term Notes at the time of the relevant refinancing,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) any Replacement Term Notes may rank *pari passu* or junior in right of payment and *pari passu* or junior with respect to all or a portion of the Collateral with the remaining portion of the Initial Term Notes or Additional Term Notes (<u>provided</u> that if such Indebtedness ranks *pari passu* with or junior as to payment or Collateral, such Replacement Term Notes shall be subject to a Permitted Pari Passu Intercreditor Agreement, a Permitted Junior Intercreditor Agreement and/or subordination provisions reasonably satisfactory to the Administrative Agent, as applicable, and may be, at the option of the Administrative Agent and the Issuer, documented in a separate agreement or agreements), or be 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;(D) if any Replacement Term Notes are secured, such Replacement Term Notes may not be secured by any assets other than the Collateral (but need not be secured by all 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) if any Replacement Term Notes are guaranteed, such Replacement Term Notes may not be guaranteed by any Person other than one or more Note Parties (but need not be guaranteed by all such Persons),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) any Replacement Term Notes that rank *pari passu* in right of payment and *pari passu* in right of security may participate on a *pro rata* basis or a less than *pro rata* basis (but not greater than a *pro rata* basis) (or, if ranking junior in right of payment or security, shall be on a junior basis with respect thereto) in any voluntary or mandatory repayment or prepayment in respect of the Initial Term Notes (and any Additional Term Notes then subject to ratable repayment requirements), in each case as agreed by the Issuer and the Holders providing the relevant Replacement Term Notes,

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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) any Replacement Term Notes shall have pricing (including interest, fees and premiums, and as to which the proviso in <u>Section</u> <u>2.22(a)(v)</u> shall not apply, except to the extent additional amounts are utilized pursuant to clause (c)(i)(A)(1) above and <u>Section</u> <u>2.22(a)(v)</u> applies to any of the relevant debt baskets that are utilized) and, subject to preceding <u>clause (F)</u>, optional prepayment and redemption terms as the Issuer and the holders providing such Replacement Term Notes may 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(H) no Default under <u>Section</u> <u>7.01(a)</u>, <u>7.01(f)</u> or <u>7.01(g)</u> or Event of Default shall exist immediately prior to or after giving effect to the effectiveness of the relevant Replacement Term Notes, 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;<u>(I)</u> either (i) the other terms and conditions of any Replacement Term Notes (excluding pricing, interest, fees, rate floors, premiums, optional prepayment or redemption terms, security and maturity, subject to preceding <u>clauses</u> <u>(B)</u> through <u>(G)</u>) shall be substantially identical to, or (taken as a whole) no more favorable (as reasonably determined by the Issuer) to the holders providing such Replacement Term Notes than those applicable to the Replaced Term Notes (other than covenants or other provisions applicable only to periods after the Latest Term Note Maturity Date (in each case, as of the date of incurrence of such Replacement Term Notes)) or (ii) such Replacement Term Notes shall be provided on then-current market terms for the applicable type of 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;<u>(J)</u> one or more of the Issuer shall be the direct borrower or issuer of such 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;<u>(K)</u> the commitments in respect of the Replaced Term Notes are terminated, and all outstanding Replaced Term Notes and fees in connection therewith shall be paid in full, in each case on the date such Replacement Term Notes are 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;(ii) with the written consent of the Issuer and the Holders providing the relevant Replacement Variable Note to permit the refinancing or replacement of all or any portion of the Variable Note Commitment or any Additional Variable Note Commitment under the applicable Class (any such Variable Note Commitment or Additional Variable Note Commitment being refinanced or replaced, a "**Replaced Variable Note**") with a replacement variable note hereunder (a "**Replacement Variable Note**") pursuant to a Refinancing Amendment; <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;(A) the aggregate principal amount of any Replacement Variable Note shall not exceed the aggregate principal amount of the Replaced Variable Note (*plus* (x) any additional amounts permitted to be incurred under <u>Section</u> <u>6.01(a)</u>, <u>(q)</u>, <u>(u)</u>, <u>(w)</u> and/or <u>(z)</u> and, to the extent any such additional amounts are secured, the related Liens are permitted under <u>Section</u> <u>6.02(k)</u> (with respect to Liens securing Indebtedness permitted by <u>Section</u> <u>6.01(a)</u>, <u>(q)</u>, <u>(u)</u>, <u>(w)</u> or <u>(z)</u>), <u>(o)</u>, <u>(u)</u> and/or <u>(ii)</u>, in each case, so long as such additional amounts, and any indebtedness, are incurred in accordance with, and justified under, such provisions and *plus* (y) the amount of accrued interest and premium thereon, any committed but undrawn amounts and underwriting discounts, fees (including upfront fees and original issue discount), commissions and expenses associated 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) no Replacement Variable Note may have a final maturity date (or require commitment reductions) prior to the final maturity date of the relevant Replaced Variable Note at the time of such refinancing,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) any Replacement Variable Note may rank *pari passu* or junior in right of payment and *pari passu* or junior with respect to all or a portion of the Collateral with the remaining portion of the Variable Note Commitments or Additional Variable Note Commitments (and shall be subject to a Permitted Pari Passu Intercreditor Agreement, Permitted Junior Intercreditor Agreement and/or subordination provisions reasonably satisfactory to the Administrative Agent, as applicable, and may be, at the option of the Administrative Agent and the Issuer, documented in a separate agreement or agreements), or be 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;(D) if any Replacement Variable Note is secured, it may not be secured by any assets other than the Collateral (but need not be secured by all 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) if any Replacement Variable Note is guaranteed, it may not be guaranteed by any Person other than one or more Note Parties (but need not be guaranteed by all such Persons),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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) any Replacement Variable Note that ranks *pari passu* in right of payment and *pari passu* in right of security may participate on a *pro rata* basis or a less than *pro rata* basis (but not greater than a *pro rata* basis) (or, if ranking junior in right of payment or security, shall be on a junior basis with respect thereto) in any voluntary or mandatory repayment or prepayment in respect of the Replaced Variable Note (and any Additional Variable Notes then subject to ratable repayment requirements), in each case as agreed by the Issuer and the Holders providing the relevant Replacement Variable 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;(G) any Replacement Variable Note shall be subject to the "ratability" provisions applicable to Extended Variable Note Commitments and Extended Variable Notes set forth in the proviso to <u>clause (ii)</u> of <u>Section</u> <u>2.23(a)</u>, *mutatis mutandis*, to the same extent as if fully set forth in this <u>Section</u> <u>9.02(c)(ii)</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) any Replacement Variable Note shall have pricing (including interest, fees and premiums, and as to which the proviso in <u>Section</u> <u>2.22(a)(v</u>) shall not apply, except to the extent that additional amounts are utilized pursuant to clause (c)(ii)(A)(x) above and <u>Section</u> <u>2.22(a)(v)</u> applies to any of the relevant debt baskets that are utilized) and, subject to preceding <u>clause (F)</u>, optional prepayment and redemption terms as the Issuer and the holders providing such Replacement Variable Note may 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I) no Default under <u>Section</u> <u>7.01(a)</u>, <u>7.01(f)</u> or <u>7.01(g)</u> or Event of Default shall exist immediately prior to or after giving effect to the effectiveness of the relevant Replacement Variable Note, 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;<u>(J)</u> either (i) the other terms and conditions of any Replacement Variable Note (excluding pricing, interest, fees, rate floors, premiums, optional prepayment or redemption terms, security and maturity, subject to preceding <u>clauses (B)</u> through <u>(G)</u>) shall be substantially identical to, or (taken as a whole) no more favorable (as reasonably determined by the Issuer) to the holders providing such Replacement Variable Note than those applicable to the Replaced Variable Note (other than covenants or other provisions applicable only to periods after the Latest Variable Note Maturity Date (in each case, as of the date of incurrence of the relevant Replacement Variable Note)) or (ii) such Replacement Variable Note shall be provided on then-current market terms for the applicable type of Indebtedness, 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;<u>(K)</u> the commitments in respect of the Replaced Variable Note shall be terminated, and all notes outstanding thereunder and all fees in connection therewith shall be paid in full, in each case on the date such Replacement Variable Note is implemented;

Each party hereto hereby agrees that, upon the effectiveness of any Refinancing Amendment, this Agreement shall be amended by the Issuer, the Administrative Agent and the holders providing the relevant Replacement Term Notes or the Replacement Variable Note, as applicable, to the extent (but only to the extent) necessary to reflect the existence and terms of such Replacement Term Notes or Replacement Variable Note, as applicable, incurred or implemented pursuant thereto (including any amendment necessary to treat the notes and commitments subject thereto as a separate "tranche" and "Class" of Notes and/or commitments hereunder). It is understood that any Holder approached to provide all or a portion of any Replacement Term Notes or any Replacement Variable Note may elect or decline, in its sole discretion, to provide such Replacement Term Notes or Replacement Variable Note.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Notwithstanding anything to the contrary contained in this <u>Section</u> <u>9.02</u> or any other provision of this Agreement or any provision of any other Notes Document, (i) the Issuer and the Administrative Agent may, without the input or consent of any Holder, amend, supplement and/or waive any guaranty, collateral security agreement, pledge agreement and/or related document (if any) executed in connection with this Agreement to (x) comply with Requirements of Law or the advice of counsel or (y) cause any such guaranty, collateral security agreement, pledge agreement or other document to be consistent with this Agreement and/or the relevant other Notes Documents, (ii) the Issuer and the Administrative Agent may, without the input or consent of any other Holder (other than the relevant Holders (including Additional Purchasers) providing Notes under such Sections), effect amendments to this Agreement and the other Notes Documents as may be necessary in the reasonable opinion of the Issuer and the Administrative Agent to effect the provisions of <u>Section</u> <u>2.22</u>, <u>2.23</u>, <u>5.12</u>, <u>6.13</u> or <u>9.02(c)</u>, or any other provision specifying that any waiver, amendment or modification may be made with the consent or approval of the Administrative Agent and (iii) if the Administrative Agent and the Issuer have jointly identified any ambiguity, mistake, defect, inconsistency, obvious error or any error or omission of a technical nature or any necessary or desirable technical change, in each case, in any provision of any Notes Document, then the Administrative Agent and the Issuer shall be permitted to amend such provision solely to address such matter as reasonably determined by them acting jointly and such amendment shall become effective without any further action or consent of any other party to any Notes Documents if the same is not objected to in writing by the Required Holders within five (5) Business Days following receipt of notice thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Notwithstanding the foregoing, this Agreement may be amended, with the written consent of each Variable Note Holder, the Administrative Agent and the Issuer to the extent necessary to integrate any Alternative Currency (other than any Alternative Currency permitted as of the Closing Date) in accordance with <u>Section</u> <u>1.08</u>.

Section 9.03 <u>Expenses; Indemnity</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Issuer and Holdings shall jointly and severally pay (i) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent and their respective Affiliates (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 firm of outside counsel to all such Persons taken as a whole and, if necessary, of one local counsel in each relevant jurisdiction to all such Persons, taken as a whole) in connection with the preparation, negotiation, execution, delivery and administration of the Notes Documents and any related documentation, including in connection with any amendment, modification or waiver of any provision of any Notes Document (whether or not the transactions contemplated thereby are consummated, but only to the extent the preparation of any such amendment, modification or waiver was

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requested by the Issuer and except as otherwise provided in a separate writing between the Issuer, the Administrative Agent) and (ii) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent or the Holders or any of their respective Affiliates (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 firm of outside counsel to all such Persons taken as a whole and, if necessary, of one local counsel in each relevant jurisdiction to all such Persons, taken as a whole, and solely in the case of an actual or perceived conflict of interest, (x) one additional counsel to all affected Persons, taken as a whole and (y) one additional local counsel in each appropriate jurisdiction to all such affected Persons, taken as a whole) in connection with the enforcement, collection or protection of their respective rights in connection with the Notes Documents, including their respective rights under this <u>Section</u> <u>9.03</u>, or in connection with the Notes made hereunder. Except to the extent required to be paid on the Closing Date, all amounts due under this <u>paragraph (a)</u> shall be payable by the Issuer within 30 days of receipt of an invoice setting forth such expenses in reasonable detail, together with backup documentation supporting the relevant reimbursement request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) (I) The Issuer and Holdings shall jointly and severally indemnify each of the Administrative Agent, Holders and their respective affiliates and the officers, directors, employees, advisors, agents, controlling persons and members of each of the foregoing (each, an "**Indemnified Person**") for losses, claims, damages, liabilities or expenses arising out of or in connection with or as a result of (i) the Transactions or the execution or delivery of the Notes Documents or any agreement or instrument contemplated thereby and/or the enforcement of the Notes Documents, the performance by the parties hereto of their respective obligations thereunder or the consummation of the Transactions or any other transactions contemplated hereby or thereby, (ii) the use of the proceeds of the Notes, (iii) any actual or alleged Release or presence of Hazardous Materials on, at, under or from any property currently or formerly owned or operated by Holdings, the Issuer, any of their Restricted Subsidiaries or any other Note Party or any Environmental Liability related to Holdings, the Issuer, any of their Restricted Subsidiaries or any other Note Party and/or (iv) any actual or prospective claim, litigation, investigation or other proceeding relating to any of the foregoing, whether based on contract, tort or any other theory (regardless of whether such Indemnified Person is a party thereto and regardless of whether such matter is initiated by the equity holders or creditors of Holdings or the Issuer or any other third party or by Holdings, the Issuer, any other Note Party or any of their respective Affiliates), or to the actual or alleged Release or presence of Hazardous Materials on, at, under, or from any property currently or formerly owned or operated by Holdings, the Issuer or any Restricted Subsidiary. This Section 9.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(II) Notwithstanding anything to the contrary in <u>clause (I)</u> above, no Indemnified Person will be indemnified under the indemnity in <u>clause (I)</u> above for (A) any cost, expense or liability (i) to the extent determined by a court of competent jurisdiction in a final, non-appealable judgment to have resulted from the gross negligence, bad faith or willful misconduct of such Indemnified Person or any of such Indemnified Person's Related Parties, (ii) arising from a material breach of such Indemnified Person's (or any of its Related Parties') obligations under any Notes Document, as determined by a court of competent jurisdiction in a final, non-appealable judgment or (iii) arising from any claim, actions, suits, inquiries, litigation, investigation or proceeding that does not involve an act or omission of Holdings, the Issuer or any of their Affiliates and that is brought by an Indemnified Person against any other Indemnified Person (other than any claim, actions, suits, inquiries, litigation, investigation or proceeding against the Administrative Agent in its capacity as such), or (B) any settlement entered into by such Indemnified Person (or any of its affiliates, successors, assigns or Related Parties) without the Issuer's written consent (such consent not to be unreasonably withheld, delayed or conditioned), but if settled with the Issuer's written consent, or if there is a final, unappealable judgment against an Indemnified Person in any such proceeding, the Issuer and Holdings shall jointly and severally indemnify and hold harmless each Indemnified Person to the extent and in the manner set forth above; <u>provided</u>, <u>however</u>, that the indemnity in <u>clause (I)</u> above will apply to any such settlement in the event that Holdings or the Issuer were offered the ability to assume the defense of the action that was the subject matter of such settlement and elected not to assume such defense.

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Section 9.04 <u>Waiver of Claim</u>. To the extent permitted by applicable law, no party to this Agreement shall assert, and each hereby waives, any claim against any other party hereto or any Related Party thereof, 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 or any agreement or instrument contemplated hereby (including any other Notes Document), the Transactions, any Note or the use of the proceeds thereof, except, in the case of any claim by any Indemnified Person against any of the Issuer or Holdings, to the extent such damages would otherwise be subject to indemnification pursuant to the terms of <u>Section</u> <u>9.03</u>.

Section 9.05 <u>Successors and Assigns</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns; <u>provided</u> that (i) neither Holdings nor the Issuer may assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Holder (and any attempted assignment or transfer by Holdings or the Issuer without such consent shall be null and void) and (ii) no Holder may assign or otherwise transfer its rights or obligations hereunder except in accordance with the terms of this <u>Section</u> <u>9.05</u> (any attempted assignment or transfer not complying with the terms of this <u>Section</u> <u>9.05</u> shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and permitted assigns, Participants (to the extent provided in <u>paragraph</u> <u>(c)</u> of this <u>Section</u> <u>9.05</u>) and, to the extent expressly contemplated hereby, Indemnified Persons and the Related Parties of each of the Administrative Agent and the Holders) any legal or equitable right, remedy or claim under or by reason of this Agreement.

&nbsp;&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;(i) Subject to the conditions set forth in <u>paragraph</u> <u>(b)(ii)</u> below, any Holder may assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of any Note or Additional Note Commitment added pursuant to <u>Section</u> <u>2.22</u>, <u>2.23</u> or <u>9.02(c)</u> at the time owing to it) with the prior written consent (not to be unreasonably withheld or delayed) 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) the Issuer; <u>provided</u> that the Issuer shall be deemed to have consented to any such assignment unless it has objected thereto by written notice to the Administrative Agent within 10 Business Days after receiving written notice thereof (such notice to be provided irrespective of whether an Event of Default under <u>Section</u> <u>7.01(a)</u> or <u>7.01(f)</u> or <u>7.01(g)</u> has occurred and is continuing); <u>provided</u>, <u>further</u>, that no consent of the Issuer shall be required (x) for any assignment of (1) Variable Notes, Additional Variable Notes, Variable Note Commitments or Additional Variable Note Commitments to another Variable Note Holder, an Affiliate of any Variable Note Holder or an Approved Fund of any Variable Note Holder or (2) Initial Term Notes, Additional Term Notes, Initial Term Note Commitments, or Additional Term Note Commitments to another Holder, an Affiliate of any Holder or an Approved Fund, or (y) if an Event of Default under <u>Section</u> <u>7.01(a)</u> or <u>Section</u> <u>7.01(f)</u> or <u>7.01(g)</u> (solely with respect to Holdings or the Issuer) exists; 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) the Administrative Agent; <u>provided</u>, that no consent of the Administrative Agent shall be required for any assignment to another Holder, any Affiliate of a Holder or any Approved Fund;

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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;(ii) 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) except in the case of any assignment to another Holder, any Affiliate of any Holder or any Approved Fund or any assignment of the entire remaining amount of the relevant assigning Holder's Notes or Commitments of any Class, the principal amount of Notes or Commitments of the assigning Holder subject to the relevant assignment (determined as of the date on which the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent and determined on an aggregate basis in the event of concurrent assignments to Related Funds or by Related Funds) shall not be less than (x) $1,000,000, in the case of Initial Term Notes, Initial Term Note Commitments and Additional Term Note Commitments and shall be in a multiple of $1,000,000 in excess thereof (or, if smaller, the entire remaining amount of the assigning Holder's Notes or Commitments unless the Issuer and the Administrative Agent otherwise consent) and (y) $5,000,000 in the case of Variable Notes, Additional Variable Notes, Variable Note Commitments or Additional Variable Note Commitments unless the Issuer and the Administrative Agent otherwise consent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) any partial assignment shall be made as an assignment of a proportionate part of all the relevant assigning Holder's rights and obligations under this Agreement; <u>provided</u> that this clause shall not be construed to prohibit the assignment of a proportionate part of all the assigning Holders' rights and obligations in respect of one Class of Commitments or 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) 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), and shall pay to the Administrative Agent a processing and recordation fee of $3,500 (which fee may be waived or reduced in the sole discretion of the Administrative 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;(D) the relevant Eligible Assignee, if it is not an existing Holder, shall deliver on or prior to the effective date of such assignment, to the Administrative Agent (1) an Administrative Questionnaire, (2) any tax forms required under <u>Section</u> <u>2.17</u> and (3) all "know your customer" documentation.

&nbsp;&nbsp;&nbsp;&nbsp;&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) Subject to the acceptance and recording thereof pursuant to <u>paragraph</u> <u>(b)(iv)</u> of this <u>Section</u> <u>9.05</u>, from and after the recordation date of each Assignment and Assumption in the Register, the Eligible Assignee thereunder shall be a party hereto and, to the extent of the interest assigned pursuant to such Assignment and Assumption, have the rights and obligations of a Holder under this Agreement, and the assigning Holder 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 Holder's rights and obligations under this Agreement, such Holder shall cease to be a party hereto but shall continue to be (A) entitled to the benefits of <u>Sections 2.15</u>, <u>2.16</u>, <u>2.17</u> and <u>9.03</u> with respect to facts and circumstances occurring on or prior to the effective date of such assignment and (B) subject to its obligations thereunder and under <u>Section</u> <u>9.13</u>). If any assignment by any Holder holding any Promissory Note is made after the issuance of such Promissory Note, the assigning Holder shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender such Promissory Note to the Administrative Agent for cancellation, and, following such cancellation, if requested by either the assignee or the assigning Holder, the Issuer shall issue and deliver a new Promissory Note to such assignee and/or to such assigning Holder, with appropriate insertions, to reflect the new commitments and/or outstanding Notes of the assignee and/or the assigning Holder.

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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;(iv) The Administrative Agent, acting for this purpose as a non-fiduciary agent of the Issuer, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Holders and their respective successors and assigns, and the Commitments of, and principal amount of and stated interest on the Notes owing to, each Holder pursuant to the terms hereof from time to time (the "**Register**"). The entries in the Register shall be conclusive, absent manifest error, and the Issuer, the Administrative Agent and the Holders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Holder hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Issuer, each Holder (but only as to its own holdings), at any reasonable time and from time to time upon reasonable prior written 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;(v) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Holder and an Eligible Assignee, the Eligible Assignee's completed Administrative Questionnaire and any tax forms required by <u>Section</u> <u>9.05(b)(ii)(D)(2)</u> (unless the assignee is already a Holder hereunder), the processing and recordation fee referred to in <u>paragraph (b)</u> of this <u>Section</u> <u>9.05</u>, if applicable, and any written consent to the relevant assignment required by <u>paragraph (b)</u> of this <u>Section</u> <u>9.05</u>, the Administrative Agent shall promptly accept such Assignment and Assumption and record the information contained therein in the Register. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph.

&nbsp;&nbsp;&nbsp;&nbsp;&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) By executing and delivering an Assignment and Assumption, the assigning Holder and the Eligible Assignee thereunder shall be deemed to confirm and agree with each other and the other parties hereto as follows: (A) such assigning Holder warrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim and that the amount of its commitments, and the outstanding balances of its Notes, in each case without giving effect to any assignment thereof which has not become effective, are as set forth in such Assignment and Assumption, (B) except as set forth in <u>clause</u> <u>(A)</u> above, such assigning Holder makes no representation or warranty and assumes no responsibility with respect to any statement, warranty or representation made in or in connection with this Agreement, or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, any other Notes Document or any other instrument or document furnished pursuant hereto, or the financial condition of Holdings, the Issuer or any Restricted Subsidiary or the performance or observance by Holdings, the Issuer or any Restricted Subsidiary of any of its obligations under this Agreement, any other Notes Document or any other instrument or document furnished pursuant hereto; (C) such assignee represents and warrants that it is an Eligible Assignee, legally authorized to enter into such Assignment and Assumption; (D) such assignee confirms that it has received a copy of this Agreement, together with copies of the financial statements referred to in <u>Section</u> <u>4.01(c)</u> or the most recent financial statements delivered pursuant to <u>Section</u> <u>5.01</u> and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such Assignment and Assumption; (E) such assignee will independently and without reliance upon the Administrative Agent, the assigning Holder or any other Holder and based on such documents and information as it deems appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement; (F) such assignee appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under this Agreement as are delegated to the Administrative Agent, by the terms hereof, together with such powers as are reasonably incidental thereto; and (G) such assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Agreement are required to be performed by it as a Holder.

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&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;(i) Any Holder may, without the consent of the Issuer, the Administrative Agent or any Holder, sell participations to any bank or other entity (other than to any Disqualified Institution, any natural Person or the Issuer or any of its Affiliates) (a "**Participant**") in all or a portion of such Holder's rights and obligations under this Agreement (including all or a portion of its commitments and the Notes owing to it); <u>provided</u> that (A) such Holder's obligations under this Agreement shall remain unchanged, (B) such Holder shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Issuer, the Administrative Agent and the other Holders shall continue to deal solely and directly with such Holder in connection with such Holder's rights and obligations under this Agreement. Any agreement or instrument pursuant to which any Holder sells such a participation shall provide that such Holder shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; <u>provided</u> that such agreement or instrument may provide that such Holder will not, without the consent of the relevant Participant, agree to any amendment, modification or waiver described in (x) <u>clause</u> <u>(A)</u> of the first proviso to <u>Section</u> <u>9.02(b)</u> that directly and adversely affects the Notes or commitments in which such Participant has an interest and (y) <u>clause</u> <u>(B)(1)</u>, <u>(2)</u> or <u>(3)</u> of the first proviso to <u>Section</u> <u>9.02(b)</u>. Subject to <u>paragraph</u> <u>(c)(ii)</u> of this <u>Section</u> <u>9.05</u>, each Issuer agrees that each Participant shall be entitled to the benefits of <u>Sections</u> <u>2.15</u>, <u>2.16</u> and <u>2.17</u> (subject to the requirements and limitations therein, including the requirements under <u>Section</u> <u>2.17(k)</u> (it being understood that the documentation required under <u>Section</u> <u>2.17(k)</u> shall be delivered to the participating Holder)) to the same extent as if it were a Holder and had acquired its interest by assignment pursuant to <u>paragraph (b)</u> of this <u>Section</u> <u>9.05</u>; <u>provided</u> that such Participant (A) agrees to be subject to the provisions of <u>Section</u> <u>2.19</u> as if it were an assignee under paragraph (b) of this <u>Section</u> and (B) shall not be entitled to receive any greater payment under <u>Section</u> <u>2.17</u>, with respect to its participation, than its participating Holder 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. Each Holder that sells a participation agrees, at the Issuer's request and expense, to use reasonable efforts to cooperate with the Issuer to effectuate the provisions of <u>Section</u> <u>2.19(b)</u> with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of <u>Section</u> <u>9.09</u> as though it were a Holder; <u>provided</u> that such Participant agrees to be subject to <u>Section</u> <u>2.18(c)</u> as though it were a 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;(ii) No Participant shall be entitled to receive any greater payment under <u>Section</u> <u>2.16</u> than the participating Holder 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 Issuer's prior written consent expressly acknowledging that such Participant's entitlement to benefits under <u>Sections 2.16</u> is not limited to what the participating Holder would have been entitled to receive absent the participation.

Each Holder that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Issuer, maintain a register on which it enters the name and address of each Participant and their respective successors and assigns, and the principal amounts and stated interest of each Participant's interest in the Notes or other obligations under the Notes Documents (the "**Participant Register**"); <u>provided</u> that no Holder 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 any Participant's interest in any Commitment, Note or any other obligation under any Notes Document) to any Person except to the extent that such

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disclosure is necessary to establish that such Commitment, Note or other obligation is in registered form under Section 5f.103-1(c), Section 1.871-14(c), or proposed Section 1.163-5 of the Treasury Regulations, as applicable. The entries in the Participant Register shall be conclusive absent manifest error, and each Holder shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Any Holder may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (other than to any Disqualified Institution or any natural person) to secure obligations of such Holder, including without limitation any pledge or assignment to secure obligations to any Federal Reserve Bank or other central bank having jurisdiction over such Holder, and this <u>Section</u> <u>9.05</u> shall not apply to any such pledge or assignment of a security interest; <u>provided</u> that no such pledge or assignment of a security interest shall release any Holder from any of its obligations hereunder or substitute any such pledgee or assignee for such Holder as a party hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Notwithstanding anything to the contrary contained herein, any Holder (a "**Granting Holder**") may grant to a special purpose funding vehicle (an "**SPC**"), identified as such in writing from time to time by the Granting Holder to the Administrative Agent and the Issuer, the option to provide to the applicable Issuer all or any part of any Note that such Granting Holder would otherwise be obligated to make to such Issuer pursuant to this Agreement; <u>provided</u> that (i) nothing herein shall constitute a commitment by any SPC to make any Note and (ii) if an SPC elects not to exercise such option or otherwise fails to provide all or any part of such Note, the Granting Holder shall be obligated to make such Note pursuant to the terms hereof. The making of any Note by an SPC hereunder shall utilize the Commitment of the Granting Holder to the same extent, and as if, such Note were made by such Granting Holder. Each party hereto hereby agrees that (i) neither the grant to any SPC nor the exercise by any SPC of such option shall increase the costs or expenses or otherwise increase or change the obligations of the Issuer under this Agreement (including its obligations under <u>Section</u> <u>2.15</u>, <u>2.16</u> or <u>2.17</u>) and no SPC shall be entitled to any greater amount under <u>Section</u> <u>2.13</u>, <u>2.14</u> or <u>2.15</u> or any other provision of this Agreement or any other Notes Document that the Granting Holder would have been entitled to receive, (ii) no SPC shall be liable for any indemnity or similar payment obligation under this Agreement (all liability for which shall remain with the Granting Holder) and (iii) the Granting Holder shall for all purposes including approval of any amendment, waiver or other modification of any provision of the Notes Documents, remain the Holder of record hereunder. In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior indebtedness of any SPC, it will not institute against, or join any other Person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under the laws of the U.S. or any State thereof; <u>provided</u> that (i) such SPC's Granting Holder is in compliance in all material respects with its obligations to the Issuer hereunder and (ii) each Holder designating any SPC hereby agrees to indemnify, save and hold harmless each other party hereto for any loss, cost, damage or expense arising out of its inability to institute such a proceeding against such SPC during such period of forbearance. In addition, notwithstanding anything to the contrary contained in this <u>Section</u> <u>9.05</u>, any SPC may (i) with notice to, but without the prior written consent of, the Issuer or the Administrative Agent and without paying any processing fee therefor, assign all or a portion of its interests in any Note to the Granting Holder and (ii) disclose on a confidential basis any non-public information relating to its Notes to any rating agency, commercial paper dealer or provider of any surety, guaranty or credit or liquidity enhancement to such SPC.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) <u>Disqualified Institutions</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;(i) No assignment or participation shall be made to any Person that was a Disqualified Institution as of the date (the "**Trade Date**") on which the assigning Holder entered into a binding agreement to sell and assign all or a portion of its rights and obligations under this Agreement to such Person (unless the Issuer has consented to such assignment in writing in its sole and absolute discretion, in which case such Person will not be considered a Disqualified Institution for the purpose of such assignment or participation). For the avoidance of doubt, with respect to any assignee that becomes a Disqualified Institution after the applicable Trade Date, (x) such assignee shall not retroactively be disqualified from becoming a Holder and (y) the execution by the Issuer of an Assignment and Assumption with respect to such assignee will not by itself result in such assignee no longer being considered a Disqualified Institution. Any assignment in violation of this clause (f)(i) shall not be void, but the other provisions of this clause (f) shall apply.

&nbsp;&nbsp;&nbsp;&nbsp;&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) If any assignment or participation is made to any Disqualified Institution without the Issuer's prior written consent in violation of clause (i) above, or if any Person becomes a Disqualified Institution after the applicable Trade Date, the Issuer may, at its sole expense and effort, upon notice to the applicable Disqualified Institution and the Administrative Agent, (A) terminate any Variable Note Commitment of such Disqualified Institution and repay all obligations of the Issuer owing to such Disqualified Institution in connection with such Variable Note Commitment, (B) in the case of outstanding Term Notes held by Disqualified Institutions, purchase or prepay such Term Note by paying the lowest of (x) the principal amount thereof, (y) the amount that such Disqualified Institution paid to acquire such Term Notes and (z) the market price of such Term Notes, in each case plus accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it hereunder and/or (C) require such Disqualified Institution to assign, without recourse (in accordance with and subject to the restrictions contained in this <u>Section</u> <u>9.05</u>), all of its interest, rights and obligations under this Agreement to one or more Eligible Assignees at the lowest of (x) the principal amount thereof, (y) the amount that such Disqualified Institution paid to acquire such interests, rights and obligations and (z) the market price of such Term Notes, in each case plus accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it 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;(iii) Notwithstanding anything to the contrary contained in this Agreement, Disqualified Institutions (A) will not (x) have the right to receive information, reports or other materials provided to Holders by the Issuer, the Administrative Agent or any other Holder, (y) attend or participate in meetings attended by the Holders and the Administrative Agent, or (z) access any electronic site established for the Holders or confidential communications from counsel to or financial advisors of the Administrative Agent or the Holders and (B) (x) for purposes of any consent to any amendment, waiver or modification of, or any action under, and for the purpose of any direction to the Administrative Agent or any Holder to undertake any action (or refrain from taking any action) under this Agreement or any other Notes Document, each Disqualified Institution will be deemed to have consented in the same proportion as the Holders that are not Disqualified Institutions consented to such matter, and (y) for purposes of voting on any plan of reorganization, each Disqualified Institution party hereto hereby agrees (1) not to vote on such plan of reorganization, (2) if such Disqualified Institution does vote on such plan of reorganization notwithstanding the restriction in the foregoing clause (1), such vote will be deemed not to be in good faith and shall be "designated" pursuant to Section 1126(e) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws), and such vote shall not be counted in determining whether the applicable class has accepted or rejected such plan of reorganization in accordance with Section 1126(c) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws) and (3) not to contest any request by any party for a determination by the Bankruptcy Court (or other applicable court of competent jurisdiction) effectuating the foregoing clause (2).

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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;(iv) The Administrative Agent shall have the right, and the Issuer hereby expressly authorizes the Administrative Agent, to (A) post the list of Disqualified Institutions provided by the Issuer and any updates thereto from time to time (collectively, the "**DQ List**") on the Platform, including that portion of the Platform that is designated for "public side" Holders and/or (B) provide the DQ List to each Holder 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;(v) 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 Institutions. Without limiting the generality of the foregoing, the Administrative Agent shall not (x) be obligated to ascertain, monitor or inquire as to whether any Holder or Participant or prospective Holder or Participant is a Disqualified Institution or (y) have any liability with respect to or arising out of any assignment or participation of Notes, or disclosure of confidential information, to any Disqualified Institution.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Notwithstanding anything to the contrary contained herein, any Holder may, at any time, assign all or a portion of its rights and obligations under this Agreement in respect of its Initial Term Notes or Additional Term Notes of any Class to an Affiliated Holder on a non-*pro rata* basis (A) through Dutch Auctions open to all Holders holding the relevant Initial Term Notes or such Additional Term Notes, as applicable, on a *pro rata* basis or (B) through open market purchases, in each case with respect to <u>clauses (A)</u> and <u>(B)</u>, without the consent of the Administrative Agent; <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;(i) any Initial Term Notes or Additional Term Notes acquired by an Affiliated Holder shall be retired and cancelled immediately upon the acquisition thereof; <u>provided</u> that upon any such retirement and cancellation, the aggregate outstanding principal amount of the Initial Term Notes or Additional Term Notes, as applicable, shall be deemed reduced by the full par value of the aggregate principal amount of the Initial Term Notes or Additional Term Notes so retired and cancelled, and each principal repayment installment with respect to the Term Notes pursuant to <u>Section</u> <u>2.10(a)</u> shall be reduced on a *pro rata* basis by the full par value of the aggregate principal amount of Term Notes so cancelled;

&nbsp;&nbsp;&nbsp;&nbsp;&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) the relevant Affiliated Holder and assigning Holder shall have executed an Affiliated Holder 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;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the aggregate amount of Term Notes that may be purchased through open market repurchases pursuant to this <u>Section</u> <u>9.05(g)</u> shall not exceed 20% of the aggregate principal amount of the Term Notes then 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;&nbsp;&nbsp;&nbsp;&nbsp;(iv) in connection with any assignment effected pursuant to a Dutch Auction and/or open market purchase conducted by Holdings, the Issuer or any of its Restricted Subsidiaries, (A) the relevant Person may not use the proceeds of any Variable Notes or Additional Variable Notes to fund such assignment and (B) no Default or Event of Default exists at the time of acceptance of bids for the Dutch Auction or the confirmation of such open market purchase, 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;(v) the Affiliated Holder shall either (i) make a customary representation to the seller at the time of the assignment that it does not possess material non-public information (or, if any Parent Company or the applicable Issuer is not at the time a public-reporting company, material information of a type that would not be reasonably expected to be publicly available if the Issuer were a public reporting company) with respect to any Parent Company, the Issuer and/or any subsidiary thereof and/or their respective securities that has not been disclosed to the seller or the Holders generally (other than Holders that have elected not to receive such information) in connection with any assignment permitted by this <u>Section</u> <u>9.05(g)</u> or (ii) the related assignment agreement shall contain a customary "big boy" representation (but no requirement to make a representation as to the absence of any material non-public information); 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;(vi) at the time such assignment is consummated and after giving effect thereto, the Issuer and their Restricted Subsidiaries shall be in pro forma compliance with <u>Section</u> <u>6.14</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) In addition:

&nbsp;&nbsp;&nbsp;&nbsp;&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) In respect of a Variable Note made to or issued for the account of a particular Issuer (collectively, "**Designated Note Issuances**"), a Variable Note Holder (a "**Designating Holder**") may at any time and from time to time designate (by written notice to the Administrative Agent and the Issuer):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) a substitute office or branch from or through which it will make, issue and/or participate in such Designated Note Issuances (a "**Substitute Facility Office**"); 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) nominate an Affiliate to act as the Holder of Designated Note Issuances (a "**Substitute Affiliate 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;(ii) A notice to nominate a Substitute Affiliate Holder must be in the form set forth in <u>Exhibit K</u> and be countersigned by the relevant Substitute Affiliate Holder confirming it shall be bound as a Holder under this Agreement and any applicable Intercreditor Agreement in respect of the Designated Note Issuances in respect of which it shall act as 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;(iii) Each Designating Holder will act as the representative of any Substitute Affiliate Holder it nominates for all administrative purposes under this Agreement. The Note Parties, the Administrative Agent and the other Secured Parties will be entitled to deal only with such Designating Holder, except that payments will be made in respect of the applicable Designated Note Issuances to the Substitute Facility Office of the applicable Substitute Affiliate Holder. In particular, the Commitments of any Designating Holder will not be treated as having been reduced or terminated by the introduction of a Substitute Affiliate Holder under this Agreement or the other Notes 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;(iv) Except as expressly set forth in clause (iii) above, a Substitute Affiliate Holder will be treated as a Holder for all purposes under the Notes Documents and having a Commitment equal to the principal amount of all Designated Note Issuances in which it is providing and/or participating in, if and for so long as it continues to be a Substitute Affiliate Holder under this Agreement; provided that upon any designation of a Substitute Affiliate Holder, the Designating Holder shall at all times remain obligated to fund Variable Notes, in each case that are not funded or issued, respectively by the applicable Substitute Affiliate Holder, for the account of each applicable Issuer in the full amount of its Commitment, which, for the avoidance of doubt, shall include the principal amount of all Designated Note Issuances by such Designating 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;(v) A Designating Holder may revoke its designation of an Affiliate as a Substitute Affiliate Holder by notice in writing to the Administrative Agent and the Issuer; <u>provided</u> that such notice may only take effect when there are no Designated Note Issuances outstanding to or in favor of such Substitute Affiliate Holder. Upon such Substitute Affiliate Holder ceasing to be a Substitute Affiliate Holder, the applicable Designating Holder will automatically assume (and be deemed to assume without further action by any party hereto) all rights and obligations previously vested in the Substitute Affiliate Holder.

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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;(vi) If a Designating Holder designates a Substitute Facility Office or Substitute Affiliate Holder in accordance with this <u>Section</u> <u>9.05(i)</u>, any Substitute Affiliate Holder shall be treated for the purposes of <u>Section</u> <u>2.17</u> as having become a Holder on the date on which the applicable Designating Holder became a Holder 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;(vii) Notwithstanding the foregoing, for purposes of the English Security Documents: Each Note Party hereby irrevocably and unconditionally undertakes to pay to each Designating Holder (each a "**Relevant Holder**"), as creditor in its own right, sums equal to and in the currency of each amount payable by such Note Party to each of such Relevant Holder's nominated Substitute Affiliate Holders under each of the Notes Documents as and when such amounts fall due for payment under the relevant Notes Document (or would have fallen due but for any discharge resulting from the failure of the Substitute Affiliate Holder to take appropriate steps) in insolvency proceedings affecting the relevant Note Party, to preserve its entitlement to be paid that amount. Each Relevant Holder shall have its own independent right to demand payment of the amounts payable by each Note Party under this <u>Section</u> <u>9.05(i)(vii)</u> (irrespective of any discharge of that Note Party's obligation to pay those amounts to any Substitute Affiliate Holder related to such Relevant Holder resulting from the failure by such Relevant Holder to take appropriate steps) in insolvency proceedings affecting that Note Party, to preserve its entitlement to be paid those amounts. Any amount due and payable by a Note Party to a Relevant Holder under this <u>Section</u> <u>9.05(i)(vii)</u> shall be decreased to the extent that the relevant Substitute Affiliate Holder has received (and, in any insolvency proceedings of such Note Party, is able to retain) payment in full of the corresponding amount under the Notes Documents and any amount due and payable by a Note Party to the relevant Substitute Affiliate Holder under the Notes Documents shall be decreased to the extent that the applicable Relevant Holder has received (and, in any insolvency proceedings of such Note Party, is able to retain) payment in full of the corresponding amount under this <u>Section</u> <u>9.05(i)(vii)</u>. For the avoidance of doubt, notwithstanding anything to the contrary in this <u>Section</u> <u>9.05(i)(vii)</u>, in no event shall any Note Party be obligated to pay to any Relevant Holder and any of such Relevant Holder's Substitute Affiliate Holders an aggregate amount in excess of the amount that such Note Party would have been required to pay to such Relevant Holder had such Relevant Holder not designated any Substitute Affiliate Holders.

&nbsp;&nbsp;&nbsp;&nbsp;&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) Each Lux Note Party, upon joining this Agreement, expressly accepts, agrees and confirms, and each other party hereby expressly reserves, for the purposes of articles 1278 et s. and 1281 of the Luxembourg civil code, that notwithstanding any assignment, transfer and/or novation permitted under, and made in accordance with the provisions of, this Agreement, any security created or guarantee given in relation to this Agreement or any other Notes Document shall be preserved for the benefit of any assignee.

Section 9.06 <u>Survival</u>. All covenants, agreements, representations and warranties made by the Note Parties in the Notes Documents and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Notes Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of the Notes Documents and the making of any Notes regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent may have had notice or knowledge of any Default or Event of Default or incorrect representation or warranty at the time any credit is extended hereunder, and (subject to the immediately following sentence) shall continue in full force and effect until the Termination Date. The provisions of <u>Sections</u> <u>2.15</u>, <u>2.16</u>, <u>2.17</u>, <u>9.03</u> and <u>9.13</u> and <u>Article 8</u> shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Notes and the Variable Note Commitment or any Additional Note Commitment, the occurrence of the Termination Date or the termination of this Agreement or any provision hereof but in each case, subject to the limitations set forth in this Agreement.

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Section 9.07 <u>Counterparts; Integration; Effectiveness</u>. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement, the other Notes Documents and the Fee Letters and any separate letter agreements with respect to fees payable to the Administrative Agent constitute the entire agreement among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. This Agreement shall become effective when it has been executed by the Issuer and the Administrative Agent and when the Administrative Agent has received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Delivery of an executed counterpart of a signature page to this Agreement by facsimile or by email as a ".pdf" or ".tif" attachment 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 this Agreement, any other Notes Document or any other document to be signed in connection with this Agreement or any other Notes Document and the transactions contemplated hereby or thereby, or in any Assignment and Assumption or amendment or other modification hereof (including waivers and consents), shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based 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; <u>provided</u> that, notwithstanding anything contained herein to the contrary, the Administrative Agent is under no obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Administrative Agent pursuant to procedures approved by it.

Section 9.08 <u>Severability</u>. To the extent permitted by law, any provision of any Notes Document held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions thereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

Section 9.09 <u>Right of Setoff</u>. At any time when an Event of Default exists, upon the written consent of the Administrative Agent, each Holder and each of their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations (in any currency) at any time owing by the Administrative Agent or such Holder or Affiliate (including by branches and agencies of the Administrative Agent or such Holder, wherever located) to or for the credit or the account of the Issuer or any Note Party against any of and all the Secured Obligations held by the Administrative Agent or such Holder or Affiliate, irrespective of whether or not the Administrative Agent or such Holder or Affiliate shall have made any demand under the Notes Documents and although such obligations may be contingent or unmatured or are owed to a branch or office of such Holder different than the branch or office holding such deposit or obligation on such Indebtedness. Any applicable Holder or Affiliate shall promptly notify the Issuer and the Administrative Agent of such set-off or application; <u>provided</u> that any failure to give or any delay in giving such notice shall not affect the validity of any such set-off or application under this <u>Section</u> <u>9.09</u>. The rights of each Holder, the Administrative Agent and each Affiliate under this <u>Section</u> <u>9.09</u> are in addition to other rights and remedies (including other rights of setoff) which such Holder, the Administrative Agent or such Affiliate may have.

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Section 9.10 <u>Governing Law; Jurisdiction; Consent to Service of Process</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) THIS AGREEMENT AND THE OTHER NOTES DOCUMENTS (OTHER THAN AS EXPRESSLY SET FORTH IN OTHER NOTES DOCUMENTS) AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT AND THE OTHER NOTES DOCUMENTS (OTHER THAN AS EXPRESSLY SET FORTH IN THE OTHER NOTES DOCUMENTS), WHETHER IN TORT, CONTRACT (AT LAW OR IN EQUITY) OR OTHERWISE, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF ANY U.S. FEDERAL OR NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK (OR ANY APPELLATE COURT THEREFROM) OVER ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY NOTES DOCUMENTS OR THE TRANSACTIONS RELATING HERETO OR THERETO AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING SHALL (EXCEPT AS PERMITTED BELOW) BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR, TO THE EXTENT PERMITTED BY LAW, FEDERAL COURT. EACH PARTY HERETO AGREES THAT SERVICE OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT BY REGISTERED MAIL ADDRESSED TO SUCH PERSON SHALL BE EFFECTIVE SERVICE OF PROCESS AGAINST SUCH PERSON FOR ANY SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT. EACH PARTY HERETO AGREES THAT, SUBJECT TO CLAUSE (e) BELOW, A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. EACH PARTY HERETO AGREES THAT THE ADMINISTRATIVE AGENT RETAINS THE RIGHT TO BRING PROCEEDINGS AGAINST ANY NOTE PARTY IN THE COURTS OF ANY OTHER JURISDICTION SOLELY IN CONNECTION WITH THE EXERCISE OF ANY RIGHTS UNDER ANY COLLATERAL DOCUMENT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT IT MAY LEGALLY AND EFFECTIVELY DO SO, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER NOTES DOCUMENT IN ANY COURT REFERRED TO IN <u>PARAGRAPH (B)</u> OF THIS <u>SECTION</u> <u>9.10</u>. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY CLAIM OR DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION, SUIT OR PROCEEDING IN ANY SUCH COURT.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) TO THE EXTENT PERMITTED BY LAW, EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS UPON IT AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL) DIRECTED TO IT AT ITS ADDRESS FOR NOTICES AS PROVIDED FOR IN <u>SECTION</u> <u>9.01</u>. EACH PARTY HERETO HEREBY WAIVES ANY OBJECTION TO SUCH SERVICE OF PROCESS AND FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING COMMENCED HEREUNDER OR UNDER ANY NOTES DOCUMENT THAT SERVICE OF PROCESS WAS INVALID AND INEFFECTIVE. NOTHING IN THIS AGREEMENT OR ANY OTHER NOTES DOCUMENT WILL AFFECT THE RIGHT OF ANY PARTY TO THIS AGREEMENT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY 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;(e) Each of the Issuer hereby irrevocably and unconditionally appoints Indivior US Holdings Inc., with an office on the date hereof at 10710 Midlothian Turnpike, Suite 125, North Chesterfield, Virginia 23235, and its successors hereunder (the "**Process Agent**"), as its agent to receive on behalf of the Issuer and their respective property all writs, claims, process and summonses in any action or proceeding brought against it in the State of New York. Such service may be made by mailing or delivering a copy of such process to the Issuer in care of the Process Agent at the address specified above for the Process Agent, and each of the Issuer irrevocably authorizes and directs the Process Agent to accept such service on its behalf. Failure by the Process Agent to give notice to the Issuer or failure of the Issuer to receive notice of such service of process shall not impair or affect the validity of such service on the Process Agent or the Issuer, or of any judgment based thereon. The Issuer covenants and agrees that it shall take any and all reasonable action, including the execution and filing of any and all documents, that may be necessary to continue the delegation of the Process Agent above in full force and effect, and to cause the Process Agent to act as such. The Issuer hereto further covenants and agrees to maintain at all times an agent with offices in the United States to act as its Process Agent. Nothing herein shall in any way be deemed to limit the ability to serve any such writs, process or summonses in any other manner permitted by applicable law.

Section 9.11 <u>Waiver of Jury Trial</u>. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY) DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER NOTES DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY HERETO (a) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HERETO 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 BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>SECTION 9.11</u>.

Section 9.12 <u>Headings</u>. Article and Section headings and the **Table of Contents** used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement.

Section 9.13 <u>Confidentiality</u>. Each of the Administrative Agent, each Holder agrees (and each Holder agrees to cause its SPC, if any) to maintain the confidentiality of the Confidential Information (as defined below), except that Confidential Information may be disclosed (a) to its Affiliates and its and its Affiliates' respective directors, officers, managers, employees, independent auditors, or other experts and advisors, including accountants, legal counsel and other advisors (collectively, the "**Representatives**") on a "need to know" basis solely in connection with the transactions contemplated hereby and who are informed of the confidential nature of the Confidential Information and are or have been advised of their obligation to keep the Confidential Information of this type confidential; <u>provided</u> that such Person shall be responsible for its Affiliates' and their Representatives' compliance with this paragraph; <u>provided</u>, <u>further</u>, that unless the Issuer otherwise consents, no such disclosure shall be made by the Administrative Agent, any Holder or any Affiliate or Representative thereof to any Affiliate or Representative of the Administrative Agent or any Holder that (i) is engaged as a principal primarily in private equity, mezzanine financing or venture capital or (ii) is a Disqualified Institution, (b) upon the demand or request of any

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regulatory or governmental authority (including any self-regulatory body) purporting to have jurisdiction over such Person or its Affiliates (in which case such Person shall, except with respect to any audit or examination conducted by bank accountants or any Governmental Authority or regulatory or self-regulatory authority exercising examination or regulatory authority, to the extent practicable and permitted by law, (i) inform the Issuer promptly in advance thereof and (ii) use commercially reasonable efforts to ensure that any information so disclosed is accorded confidential treatment), (c) to the extent compelled by legal process in, or reasonably necessary to, the defense of such legal, judicial or administrative proceeding, in any legal, judicial or administrative proceeding or otherwise as required by applicable Requirements of Law (in which case such Person shall (i) to the extent practicable and permitted by law, inform the Issuer promptly in advance thereof and (ii) use commercially reasonable efforts to ensure that any such information so disclosed is accorded confidential treatment), (d) to any other party to this Agreement, (e) subject to an acknowledgment and agreement by the relevant recipient that the Confidential Information is being disseminated on a confidential basis (on substantially the terms set forth in this paragraph or as otherwise reasonably acceptable to the Issuer and the Administrative Agent), to (i) any Eligible Assignee of or Participant in, or any prospective Eligible Assignee of or prospective Participant in, any of its rights or obligations under this Agreement, including any SPC (in each case other than a Disqualified Institution), (ii) any pledgee referred to in <u>Section</u> <u>9.05</u>, (iii) any actual or prospective, direct or indirect contractual counterparty (or its advisors) to any Derivative Transaction (including any credit default swap) or similar derivative product to which any Note Party is a party and (iv) subject to the Issuer's prior approval of the information to be disclosed (not to be unreasonably withheld or delayed), to any rating agency on a confidential basis in connection with obtaining or maintaining private ratings, (f) with the prior written consent of the Issuer and (g) to the extent (1) the Confidential Information becomes publicly available other than as a result of a breach of this <u>Section</u> <u>9.13</u> by such Person, its Affiliates or their respective Representatives or (2) becomes available to the Administrative Agent, any Holder or any of their respective Affiliates from a third-party source that is not known to be subject to a confidentiality obligation to the Issuer and/or any of its subsidiaries. For purposes of this <u>Section</u> <u>9.13</u>, "**Confidential Information**" means all information relating to the Issuer and/or any of their subsidiaries and their respective businesses, or the Transactions (including any information obtained by the Administrative Agent or any Holder, or any of their respective Affiliates or Representatives, based on a review of the books and records relating to the Issuer and/or any of its subsidiaries and their respective Affiliates from time to time, including prior to the date hereof) other than any such information that is publicly available to the Administrative Agent or Holder on a non-confidential basis prior to disclosure by the Issuer or any of its subsidiaries. For the avoidance of doubt, in no event shall any disclosure of any Confidential Information be made to Person that is a Disqualified Institution at the time of disclosure.

Section 9.14 <u>No Fiduciary Duty</u>. Each of the Administrative Agent, each Holder and their respective Affiliates (collectively, solely for purposes of this paragraph, the "**Holders**"), may have economic interests that conflict with those of the Note Parties, their stockholders and/or their respective affiliates. Each Note Party agrees that nothing in the Notes Documents or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between any Holder, on the one hand, and such Note Party, each Parent Company, their respective stockholders or their respective affiliates, on the other. Each Note Party acknowledges and agrees that: (i) the transactions contemplated by the Notes Documents (including the exercise of rights and remedies hereunder and thereunder) are arm's-length commercial transactions between the Holders, on the one hand, and the Note Parties and each Parent Company, on the other, and (ii) in connection therewith and with the process leading thereto, (x) no Holder has assumed an advisory or fiduciary responsibility in favor of any Note Party, any Parent Company, their respective stockholders or their respective 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 Holder has advised, is currently advising or will advise any Note Party, its respective stockholders or its respective Affiliates on other matters) or any other obligation to any Note Party except the obligations expressly set forth in the Notes Documents and (y) each Holder is acting solely

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as principal and not as the agent or fiduciary of such Note Party, its respective management, stockholders, creditors or any other Person. Each Note Party acknowledges and agrees that such Note Party has consulted its own legal, tax 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. To the fullest extent permitted by law, the Issuer and Holdings hereby waive and release any claims that they may have against each of the Holders and their Affiliates with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.

<u>Section 9.15</u> <u>Several Obligations</u>. The respective obligations of the Holders hereunder are several and not joint and the failure of any Holder to make any Note or perform any of its obligations hereunder shall not relieve any other Holder from any of its obligations hereunder.

Section 9.16 <u>Nonliability of Administrative Agent, Holders and Purchasers</u>. The relationship between the Issuer on the one hand and the Purchasers, Holders and Administrative Agent on the other hand shall be solely that of borrower and lenders. This Agreement does not give rise now or in the future to an agency, joint venture or partnership relationship between any Note Party on the one hand and the Administrative Agent or any Purchaser or Holder or any of their Affiliates on the other hand. Neither the Administrative Agent nor any Purchaser or Holder shall have any fiduciary responsibility to Issuer. Neither the Administrative Agent nor any Purchaser or Holder (a) undertakes any responsibility to Issuer or any other Note Party to review or inform Issuer or any other Note Party of any matter in connection with any phase of any such Person's business or operations or (b) consents to any right of any Note Party, Purchaser or Holder or their Affiliates or Related Funds to inspect or audit any records or documents of the Administrative Agent or its Affiliates or Related Funds. Execution of this Agreement by Issuer constitutes a full, complete and irrevocable release of any and all claims which Issuer or any other Note Party may have at law or in equity in respect of all prior discussions and understandings, oral or written, relating to the subject matter of this Agreement and the other Notes Documents. Neither the Administrative Agent nor any Purchaser or Holder shall have any liability with respect to, and Issuer (on behalf of itself and each other Note Party) hereby waives, releases and agrees not to sue for, any special, indirect, punitive or consequential damages or liabilities. No Note Party shall rely on any work or analysis by the Administrative Agent or any Purchaser or Holder.

<u>Section 9.17</u> <u>USA PATRIOT Act; Beneficial Ownership Regulation Compliance</u>. Each Holder that is subject to the requirements of the USA PATRIOT Act and the Beneficial Ownership Regulation hereby notifies the Note Parties that pursuant to the requirements of the USA PATRIOT Act and the Beneficial Ownership Regulation (if applicable), it is required to obtain, verify and record information that identifies each Note Party, which information includes the name and address of such Note Party and other information that will allow such Holder to identify such Note Party in accordance with the USA PATRIOT Act and the Beneficial Ownership Regulation.

<u>Section 9.18</u> <u>Disclosure</u>. Each Note Party and each Holder hereby acknowledges and agrees that the Administrative Agent and/or its Affiliates from time to time may hold investments in, make other notes, loans to or have other relationships with any of the Note Parties and their respective Affiliates.

<u>Section 9.19</u> <u>Appointment for Perfection</u>. Each Holder hereby appoints each other Holder as its agent for the purpose of perfecting Liens for the benefit of the Administrative Agent, the Holders and the other Secured Parties, in assets which, in accordance with Article 9 of the UCC or any other applicable law can be perfected only by possession. If any Holder obtains possession of any Collateral, such Holder shall notify the Administrative Agent thereof; and, promptly upon the Administrative Agent's request therefor shall deliver such Collateral to the Administrative Agent or otherwise deal with such Collateral in accordance with the Administrative Agent's instructions.

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<u>Section 9.20</u> <u>Interest Rate Limitation</u>. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Note, together with all fees, charges and other amounts which are treated as interest on such Note under applicable law (collectively the "**Charged Amounts**"), shall exceed the maximum lawful rate (the "**Maximum Rate**") which may be contracted for, charged, taken, received or reserved by the Holder holding such Note in accordance with applicable law, the rate of interest payable in respect of such Note hereunder, together with all Charged Amounts payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charged Amounts that would have been payable in respect of such Note but were not payable as a result of the operation of this <u>Section</u> <u>9.19</u> shall be cumulated and the interest and Charged Amounts payable to such Holder in respect of other Notes or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Holder.

<u>Section 9.21</u> <u>Conflicts</u>. Notwithstanding anything to the contrary contained herein or in any other Notes Document, in the event of any conflict or inconsistency between this Agreement and any other Notes Document, the terms of this Agreement shall govern and control.

Section 9.22 <u>Release of Guarantors</u>. Notwithstanding anything in <u>Section</u> <u>9.02(b)</u> to the contrary, any Subsidiary Guarantor shall automatically be released from its obligations hereunder (and its Note Guaranty shall be automatically released) (a) upon the consummation of any permitted transaction or series of related transactions if as a result thereof such Subsidiary Guarantor ceases to be a Restricted Subsidiary (or becomes an Excluded Subsidiary as a result of a single transaction or series of related transactions permitted hereunder; <u>provided</u>, that the release of any Subsidiary Guarantor from its obligations under the Note Guaranty if such Subsidiary Guarantor becomes an Excluded Subsidiary of the type described in <u>clause (a)</u> of the definition thereof shall only be permitted if at the time such Guarantor becomes an Excluded Subsidiary of such type (i) no Event of Default has occurred and is continuing or would result therefrom immediately after giving effect to such transaction, (ii) after giving pro forma effect to such release and the consummation of the transaction that causes such Person to be an Excluded Subsidiary of such type, the applicable Issuer is deemed to have made a new Investment in such Person for purposes of <u>Section</u> <u>6.06</u> (as if such Person were then newly acquired) in an amount equal to the portion of the fair market value of the net assets of such Person attributable to such Issuer's equity interest therein as reasonably estimated by the applicable Issuer and such Investment is permitted pursuant to <u>Section</u> <u>6.06</u> (other than <u>Section</u> <u>6.06(f)</u>) at such time, (iii) such Subsidiary is or becomes an Excluded Subsidiary for a bona fide legitimate business purpose of the Issuer and its Restricted Subsidiaries and not for the primary purpose of causing such Subsidiary to be released as a Subsidiary Guarantor and/or evading the Collateral and Guarantee Requirement, (iv) such release constitutes an incurrence of Indebtedness and Liens (without duplication of amounts already utilized under baskets available to such Subsidiary after giving pro forma effect to such release), to the extent of any Indebtedness owed by such Subsidiary or Liens on the assets or properties of such Subsidiary, and an Investment made in such Released Subsidiary in an amount equal to the fair market value of the aggregate amount of Investments made by the remaining Note Parties in such subsidiary during the time that such subsidiary was a Guarantor (net of all returns (including repayments of principal and payments of interest) from such Investments and profits, dividends and distributions (whether in cash, Cash Equivalents or property (up to the fair market value thereof)) received by the remaining Note Parties from such subsidiary during the time that such subsidiary was a Guarantor), (v) such Investment, Indebtedness and Liens are permitted at such time and (vi) a Responsible Officer of the applicable Issuer certifies to the Administrative Agent compliance with preceding <u>clauses (i)</u> through <u>(v)</u>) and/or (b) upon the occurrence of the Termination Date. In connection with any such release, the Administrative Agent shall promptly execute and deliver to the relevant Note Party, at such Note Party's expense, all documents that such Note Party shall reasonably request to evidence termination or release; <u>provided</u>, that upon the request of the Administrative Agent, the Issuer shall deliver a certificate of a Responsible Officer certifying that the relevant transaction has been consummated in compliance with the terms of this Agreement. Any execution and delivery of documents pursuant to the preceding sentence of this <u>Section</u> <u>9.22</u> shall be without recourse to or warranty by the Administrative Agent (other than as to the Administrative Agent's authority to execute and deliver such documents).

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Section 9.23 <u>Judgment</u> <u>Currency</u>. If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder or any other Notes Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the first currency with such other currency on the Business Day preceding that on which final judgment is given. The obligation of any Note Party in respect of any such sum due from it to the Administrative Agent or any Holder hereunder or under the other Notes Documents shall, notwithstanding any judgment in a currency (the "**Judgment Currency**") other than that in which such sum is denominated in accordance with the applicable provisions of this Agreement (the "**Agreement Currency**"), be discharged only to the extent that on the Business Day following receipt by the Administrative Agent or such Holder (as applicable) of any sum adjudged to be so due in the Judgment Currency, the Administrative Agent or such Holder (as applicable) may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative Agent or such Holder (as applicable) from any Note Party in the Agreement Currency, the Issuer agree jointly and severally, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or such Holder (as applicable) or such other person to whom such obligation was owing against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent or such Holder (as applicable) in such currency, the Administrative Agent or such Holder (as applicable) agrees to return the amount of any excess to such Note Party (or to any other person who may be entitled thereto under applicable law).

Section 9.24 <u>Waiver of Sovereign Immunity</u>. Each Note Party that is organized under the laws of any jurisdiction other than the United States of America or any state thereof (each, a "**Foreign Note Party**"), in respect of itself, its Subsidiaries, its process agents, and its properties and revenues, hereby irrevocably agrees that, to the extent that such Foreign Note Party or its respective Subsidiaries or any of its or its respective Subsidiaries' properties has or may hereafter acquire any right of immunity, whether characterized as sovereign immunity or otherwise, from any legal proceedings, whether in the United States or elsewhere, to enforce or collect upon the Notes or any other Secured Obligations or any Notes Document or any other liability or obligation of such Foreign Note Party, or any of their respective Subsidiaries related to or arising from the transactions contemplated by any of the Notes Documents, including, without limitation, immunity from service of process, immunity from jurisdiction or judgment of any court or tribunal, immunity from execution of a judgment, and immunity of any of its property from attachment prior to any entry of judgment, or from attachment in aid of execution upon a judgment, such Foreign Note Party, for itself and on behalf of its Subsidiaries, hereby expressly waives, to the fullest extent permissible under applicable law, any such immunity, and agrees not to assert any such right or claim in any such proceeding, whether in the United States or elsewhere. Without limiting the generality of the foregoing, each Foreign Note Party, as the case may be, further agrees that the waivers set forth in this <u>Section</u> <u>9.23</u> shall have the fullest extent permitted under the Foreign Sovereign Immunities Act of 1976 of the United States and are intended to be irrevocable for purposes of such Act.

Section 9.25 <u>Acknowledgement and Consent to Bail-In of Affected Financial Institutions</u>. Notwithstanding anything to the contrary in any Notes Document or in any other agreement, arrangement or understanding among any parties hereto, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Notes Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of the applicable Resolution Authority and each party hereto 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;(a) 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

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) 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;(i) 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;(ii) 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 Notes 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;(iii) 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 9.26 <u>Acknowledgement Regarding Any Supported QFCs</u>. To the extent that the Notes Documents provide support, through a guarantee or otherwise, for any 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 Credit 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;(a) 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 Credit 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 Credit 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 Holder 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;(b) As used in this Section 9.25, 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.

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"**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<u>Intentionally Omitted</u>]

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**<u>EXHIBIT B</u>**

**<u>Compliance Certificate</u>**

[See Attached]

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**<u>CONFORMED COPY</u>** 

[FORM OF]

COMPLIANCE CERTIFICATE

[•] [•], 20[\*]

To: The Administrative Agent and each of the Purchasers parties to the

Note Purchase Agreement described below

This Compliance Certificate is furnished pursuant to that Note Purchase Agreement dated as of November 4, 2024 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the "**Note Purchase Agreement**") by and among RBP Global Holdings Limited, a limited company organized under the laws of England and Wales (the "**Issuer**"), Indivior Global Holdings Limited, a limited company organized under the laws of England and Wales ("**Holdings**"), the other Persons from time to time party hereto as Note Parties, Piper Sandler Finance LLC, in its capacities as an administrative agent and collateral agent for the Holders (in such capacities, the "**Administrative Agent**"), and the Purchasers identified on Schedule 1.01(a) thereto.

THE UNDERSIGNED HEREBY CERTIFIES, AS A RESPONSIBLE OFFICER OF THE ISSUER, IN SUCH CAPACITY AND NOT IN AN INDIVIDUAL CAPACITY, THAT:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. I am the duly elected [•] of the Issuer and a Responsible Officer of the Issuer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. I have reviewed the terms of the Note Purchase Agreement and I have made, or have caused to be made under my supervision, a review in reasonable detail of the transactions and conditions of the Issuer and its Restricted Subsidiaries, on a consolidated basis, during the **[Fiscal Quarter] [Fiscal Year]** covered by the attached financial statements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. **[The attached financial statements fairly present, in all material respects, in accordance with GAAP, the consolidated financial condition of the Applicable Reporting Company as at the dates indicated and its income and cash flows for the periods indicated, subject to the absence of footnotes and normal year-end adjustments.]**<sup>1</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. **[Except as described in the disclosure set forth below, the] [The] examinations described in <u>paragraph 2</u> did not disclose, and I have no knowledge of the existence of any condition or event which constitutes a Default or Event of Default that exists as of the date of this Compliance Certificate [and the disclosure set forth below specifies, in reasonable detail, the nature of any such condition or event and any action taken or proposed to be taken with respect thereto.]**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. **<u>[Schedule 1</u> attached hereto sets forth reasonably detailed calculations of Excess Cash Flow of the Applicable Reporting Company and its Restricted Subsidiaries for such Fiscal Year.]**<sup>2</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. **[Attached as <u>Schedule 2</u> hereto is a list of the subsidiaries of the Issuer that identifies each subsidiary as a Restricted Subsidiary or an Unrestricted Subsidiary as of the date hereof.]** 

<sup>1</sup> Include to the extent the relevant Compliance Certificate is delivered in connection with unaudited quarterly financials pursuant to <u>Section</u> <u>5.01(a)</u> of the Note Purchase Agreement.

<sup>2</sup> Only required to the extent the relevant Compliance Certificate is delivered in connection with audited annual financial statements delivered pursuant to <u>Section</u> <u>5.01(b)</u> of the Note Purchase Agreement (commencing with the Fiscal Year ending December 31, 2025), it being agreed that the first payment under <u>Section</u> <u>2.11(b)(i)</u> of the Note Purchase Agreement, if any, shall be in respect of the Fiscal Year ending December 31, 2025. 

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**[There is no change in the list of Restricted Subsidiaries and Unrestricted Subsidiaries since the later of the Closing Date and the date of the last Compliance Certificate.]** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. **[Attached as <u>Schedule 3</u> hereto are (i) a summary of the pro forma adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries from the attached financial statements and (ii) if the attached financial statements relate to any Parent Company, consolidating financial information summarizing in reasonable detail the information related to such Parent Company, on the one hand, and the information relating to the Issuer on a standalone basis, on the other hand, which consolidating information has been fairly presented in all material respects.]**<sup>3</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. **[Attached hereto as <u>Schedule 4</u> is the Narrative Report required to be delivered with the attached financial statements in accordance with <u>Section</u> <u>5.01(a)</u> or <u>(b)</u> of the Note Purchase Agreement, as applicable]**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. **Attached as <u>Schedule 5</u> hereto are calculations in reasonable detail demonstrating compliance with the covenant set forth in <u>Section</u> <u>6.14</u> of the Note Purchase Agreement.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. **[Attached as <u>Schedule 6</u> hereto is a report on the attached consolidated financial statements of an independent certified public accountant of recognized national standing that is required to be delivered with the attached financial statements in accordance with <u>Section</u> <u>5.01(b)</u> of the Credit Agreement.]**<sup>4</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. **<u>[Schedule 7</u> attached hereto sets forth reasonably detailed calculations of any Net Proceeds in respect of any Prepayment Asset Sale or Net Insurance/Condemnation Proceeds received during such Fiscal Year by or on behalf of the Issuer or any of the Restricted Subsidiaries subject to prepayment pursuant to <u>Section</u> <u>2.11(b)</u> of the Note Purchase Agreement, and the portion of such Net Proceeds that have been invested or are intended to be reinvested in accordance with <u>Section</u> <u>2.11(b)(ii)</u> of the Note Purchase Agreement.]**<sup>5</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. **<u>[Schedule 8</u> attached hereto sets forth reasonably detailed calculations of Consolidated Total Assets, the Available Amount and the Available Excluded Contribution Amount as of the last date of such [Fiscal Quarter][Fiscal Year].] [There is no change in the amount of Consolidated Total Assets, the Available Amount and the Available Excluded Contributions Amount from those set forth in the last Compliance Certificate.]**

**[The description below sets forth the exceptions to <u>paragraph 4</u> by listing, in reasonable detail, the nature of the condition or event, the period during which it has existed and the action which the Issuer have taken, are taking, or propose to take with respect to each such condition or event:]** 

[Signature Page Follows]

<sup>3</sup> Only required if (A) in the case of clause (i), a subsidiary of the Issuer is or has been designated as an Unrestricted Subsidiary at the time of delivery of the applicable Compliance Certificate and (B) in the case of clause (ii), if the applicable financial statements relate to any Parent Company. 

<sup>4</sup> Only required to the extent the relevant Compliance Certificate is delivered in connection with the audited annual financial statements pursuant to <u>Section</u> <u>5.01(b)</u> of the Note Purchase Agreement.

<sup>5</sup> Only required to the extent the relevant Compliance Certificate is delivered in connection with audited annual financial statements delivered pursuant to <u>Section</u> <u>5.01(b)</u> of the Note Purchase Agreement.

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The foregoing certifications, together with the information set forth in the Schedules hereto and the financial statements delivered with this Compliance Certificate in support hereof, are made and delivered as of the date first written above.

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| | |
|:---|:---|
| RBP GLOBAL HOLDINGS LIMITED,<br> as Issuer | RBP GLOBAL HOLDINGS LIMITED,<br> as Issuer |
| By: |  |
|  | Name: |
|  | Title: |

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CONSENT AND REAFFIRMATION

January 21, 2026

Each of the undersigned hereby acknowledges receipt of a copy of the foregoing First Amendment to Note Purchase Agreement, dated as of the date first written above (the "<u>Amendment</u>"), delivered in connection with that certain Note Purchase Agreement, dated as of November 4, 2024 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the "<u>Note Purchase Agreement</u>") by and among RBP Global Holdings Limited, a limited company organized under the laws of England and Wales (the "<u>Issuer</u>"), Indivior Global Holdings Limited, a limited company organized under the laws of England and Wales, the other Persons from time to time party thereto as Note Parties, Piper Sandler Finance LLC, in its capacities as an administrative agent and collateral agent for the Holders as defined therein (in such capacities, the "<u>Agent</u>"), and the Purchasers identified on Schedule 1.01(a) thereto. Capitalized terms used in this Consent and Reaffirmation and not defined herein shall have the meanings given to them in the Note Purchase Agreement. Without in any way establishing a course of dealing by the Agent or any Holder, each of the undersigned consents to the Amendment and hereby (a) reaffirms the terms and conditions of the Note Purchase Agreement and any other Note Document executed by it and acknowledges and agrees that such Note Purchase Agreement and each and every such Note Document executed by the undersigned in connection with the Note Purchase Agreement remains in full force and effect and is hereby reaffirmed, ratified and confirmed, (b) to the extent such undersigned Person granted liens on or security interests in any of its properties pursuant to any Note Document and any filing made with any Governmental Authority relating thereto, ratifies and reaffirms each such grant of security and confirms that such liens and security interests continue to secure the Secured Obligations, and (c) to the extent such undersigned Person guaranteed or was an accommodation party with respect to any of the Secured Obligations or any portion thereof, ratifies and reaffirms such guaranties or accommodation liabilities, in each case, subject to the limitations set forth in the applicable Note Documents.

[Signature Page Follows]

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| | |
|:---|:---|
| INDIVIOR GLOBAL HOLDINGS LIMITED, as Holdings and as a Guarantor | INDIVIOR GLOBAL HOLDINGS LIMITED, as Holdings and as a Guarantor |
| By: | /s/ Bansari Rupani |
|  | Name: Bansari Rupani |
|  | Title: Director |
| INDIVIOR UK LIMITED, as a Guarantor | INDIVIOR UK LIMITED, as a Guarantor |
| By: | /s/ Bansari Rupani |
|  | Name: Bansari Rupani |
|  | Title: Director |
| INDIVIOR EUROPE LIMITED, as a Guarantor | INDIVIOR EUROPE LIMITED, as a Guarantor |
| By: | /s/ Jerry Barbato |
|  | Name: Jerry Barbato |
|  | Title: Director |
| INDIVIOR FINANCE (2014) LLC, as a Guarantor | INDIVIOR FINANCE (2014) LLC, as a Guarantor |
| By: | /s/ Woodrow Anderson |
|  | Name: Woodrow Anderson |
|  | Title: President |
| INDIVIOR JERSEY FINANCE LLC, as a Guarantor | INDIVIOR JERSEY FINANCE LLC, as a Guarantor |
| By: | /s/ Woodrow Anderson |
|  | Name: Woodrow Anderson |
|  | Title: Manager |
| INDIVIOR UK FINANCE NO 2 LIMITED, as a Guarantor | INDIVIOR UK FINANCE NO 2 LIMITED, as a Guarantor |
| By: | /s/ Jerry Barbato |
|  | Name: Jerry Barbato |
|  | Title: Director |

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[Signature Page to Consent and Reaffirmation to First Amendment to Note Purchase Agreement]

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| | |
|:---|:---|
| INDIVIOR UK FINANCE NO 3 LIMITED, as a Guarantor | INDIVIOR UK FINANCE NO 3 LIMITED, as a Guarantor |
| By: | /s/ Jerry Barbato |
|  | Name: Jerry Barbato |
|  | Title: Director |
| INDIVIOR US HOLDINGS INC., as a Guarantor | INDIVIOR US HOLDINGS INC., as a Guarantor |
| By: |  |
|  | Name: Ryan Preblick |
|  | Title: Treasurer |
| INDIVIOR FINANCE LLC, as a Guarantor | INDIVIOR FINANCE LLC, as a Guarantor |
| By: | /s/ Jerry Barbato |
|  | Name: Jerry Barbato |
|  | Title: Manager |
| INDIVIOR INC., as a Guarantor | INDIVIOR INC., as a Guarantor |
| By: | /s/ Ryan Preblick |
|  | Name: Ryan Preblick |
|  | Title: Treasurer |
| INDIVIOR TREATMENT SERVICES, INC., as a Guarantor | INDIVIOR TREATMENT SERVICES, INC., as a Guarantor |
| By: | /s/ Bal Ram Chopra |
|  | Name: Bal Ram Chopra |
|  | Title: Treasurer |
| INDIVIOR MANUFACTURING LLC, as a Guarantor | INDIVIOR MANUFACTURING LLC, as a Guarantor |
| By: Indivior Inc., its sole member | By: Indivior Inc., its sole member |
| By: | /s/ Ryan Preblick |
|  | Name: Ryan Preblick |
|  | Title: Treasurer |

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[Signature Page to Consent and Reaffirmation to First Amendment to Note Purchase Agreement]

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| | |
|:---|:---|
| INDIVIOR SOLUTIONS INC., as a Guarantor | INDIVIOR SOLUTIONS INC., as a Guarantor |
| By: | /s/ Jerry Barbato |
|  | Name: Jerry Barbato |
|  | Title: President and Treasurer |
| INDY 1 (UK) LIMITED, as a Guarantor | INDY 1 (UK) LIMITED, as a Guarantor |
| By: | /s/ Jerry Barbato |
|  | Name: Jerry Barbato |
|  | Title: Director |

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[Signature Page to Consent and Reaffirmation to First Amendment to Note Purchase Agreement]

## Exhibit 99.2

**Exhibit 99.2**![LOGO](g87169g0122054832354.jpg)

**<u>Indivior Announces Completion of Redomiciliation to the United States</u>**

**Richmond, VA, January 26, 2026** – Indivior Pharmaceuticals, Inc. (Nasdaq: INDV), today announced completion of its redomiciliation from the United Kingdom to the United States. As a result, Indivior Pharmaceuticals, Inc., a new Delaware corporation ("IPI"), has become the new parent company. Indivior PLC is renamed Indivior Ltd. and has become a wholly-owned subsidiary of IPI. The common stock of Indivior Pharmaceuticals, Inc., is listed on Nasdaq and will continue to trade under the symbol "INDV."

The last day of trading Indivior PLC ordinary shares on Nasdaq was January 23, 2026. Shareholders of Indivior PLC received one new IPI common share for each Indivior PLC ordinary share held as of the scheme record date. The redomiciliation was approved by Indivior shareholders at an extraordinary general meeting (EGM) on December 11, 2025.

Indivior believes the change in domicile will expand the benefits of its U.S. stock listing, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Strengthening Indivior's U.S. capital markets presence

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Increasing potential U.S. equity indexation

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Simplifying corporate governance and reducing complexity

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Further positioning Indivior as a U.S. based treatment innovator, enabling closer collaboration with public
health leaders on advancing SUBLOCADE<sup>®</sup> for opioid use disorder

IPI is subject to the reporting requirements of the U.S. Securities and Exchange Commission ("SEC") as a domestic issuer and applicable exchange rules of Nasdaq. Further details regarding the redomiciliation can be found in an 8-K filing made today with the SEC.

**<u>Important Cautionary Note Regarding Forward-looking Statements</u>**

Certain statements contained herein are forward-looking statements. Forward-looking statements include, among other things, express and implied statements pertaining to (i) our expectations regarding expected benefits of redomiciliation, (ii) potential inclusion in additional U.S. equity indices, (iii) expected simplified corporate governance and reduced complexity, (iv) expected improved positioning as a U.S.-based treatment innovator and potential closer collaboration with public health leaders on advancing SUBLOCADE<sup>®</sup> for opioid use disorder, and (v) statements containing the words "believe," "anticipate," "plan," "expect," "intend," "estimate," "forecast," "strategy," "target," "guidance," "outlook," "potential," "project," "priority," "may," "will," "should," "would," "could," "can," "outlook," the negatives thereof, and variations thereon and similar expressions. By their nature, forward-looking statements involve risks

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and uncertainties as they relate to events or circumstances that may or may not occur in the future. Actual results may differ materially from those expressed or implied in such statements because they relate to future events. For information about some additional risks and important factors that could affect our future results and financial condition, see the discussion of "Risk Factors" in our Annual Report on Form 10-K filed March 3, 2025, our Forms 10-Q filed May 1, 2025, July 31, 2025, and October 30, 2025, and our other filings with the SEC.

We have based the forward-looking statements in this release on our current expectations and beliefs concerning future events. Forward-looking statements contained in this release speak only as of the day they are made and, except as required by law, we undertake no obligation to update or revise any forward-looking statement.

**<u>About Indivior</u>**

As the leader in long-acting injectable treatments for opioid use disorder (OUD), Indivior is singularly focused on delivering evidence-based treatment and advancing understanding of OUD as a chronic but treatable brain disease. For more than 25 years, we have revolutionized the science of addiction medicine — developing treatments that help people move toward long-term recovery with independence and dignity. Building on this heritage, we are ushering in a new era, renewing our commitment to individuals living with OUD and carrying forward what matters most: compassion, integrity, and science. Together – with science, people living with OUD, public health champions, and communities, we are powering recovery and renewing hope. Visit <u>www.indivior.com</u> to learn more. Connect with Indivior on LinkedIn by visiting <u>www.linkedin.com/company/Indivior</u>.

**<u>For Further Information</u>**

***Investors***

Jason Thompson, Indivior VP Investor Relations

804-402-7123

<u>Jason.Thompson@Indivior.com</u> 

***Media***

Cassie France-Kelly

804-594-0836

<u>IndiviorMediaContacts@Indivior.com</u>