# EDGAR Filing Document

**Accession Number:** 0001089063
**File Stem:** 0001140361-25-021813
**Filing Date:** 2025-6
**Character Count:** 545211
**Document Hash:** 7616a93c3ee47056d73cc19fe86dbc8e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-25-021813.hdr.sgml**: 20250606

**ACCESSION NUMBER**: 0001140361-25-021813

**CONFORMED SUBMISSION TYPE**: 425

**PUBLIC DOCUMENT COUNT**: 5

**FILED AS OF DATE**: 20250606

**DATE AS OF CHANGE**: 20250606

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FOOT LOCKER, INC.
- **CENTRAL INDEX KEY:** 0000850209
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-SHOE STORES [5661]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 133513936
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 0201

**FILING VALUES:**
- **FORM TYPE:** 425
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-10299
- **FILM NUMBER:** 251031970

**BUSINESS ADDRESS:**
- **STREET 1:** FOOT LOCKER, INC.
- **STREET 2:** 330 WEST 34TH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001
- **BUSINESS PHONE:** 2127203700

**MAIL ADDRESS:**
- **STREET 1:** FOOT LOCKER, INC.
- **STREET 2:** 330 WEST 34TH STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FOOT LOCKER INC
- **DATE OF NAME CHANGE:** 20011102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VENATOR GROUP INC
- **DATE OF NAME CHANGE:** 19980622

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WOOLWORTH CORPORATION
- **DATE OF NAME CHANGE:** 19920703
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DICK'S SPORTING GOODS, INC.
- **CENTRAL INDEX KEY:** 0001089063
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-MISCELLANEOUS SHOPPING GOODS STORES [5940]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 161241537
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0201

**FILING VALUES:**
- **FORM TYPE:** 425

**BUSINESS ADDRESS:**
- **STREET 1:** 345 COURT STREET
- **CITY:** CORAOPOLIS
- **STATE:** PA
- **ZIP:** 15108
- **BUSINESS PHONE:** 7242733400

**MAIL ADDRESS:**
- **STREET 1:** 345 COURT STREET
- **CITY:** CORAOPOLIS
- **STATE:** PA
- **ZIP:** 15108

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DICKS SPORTING GOODS INC
- **DATE OF NAME CHANGE:** 19990617

------

#### 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): June 6, 2025

## DICK'S SPORTING GOODS, INC.<br>

#### (Exact Name of Registrant as Specified in Charter)

---

| | | |
|:---|:---|:---|
| **Delaware**<br>| **001-31463**<br>| **16-1241537**  |
| (State or Other Jurisdiction of Incorporation) | (Commission File No.) | (IRS Employer Identification No.) |

---

#### 345 Court Street, Coraopolis, PA 15108
*(Address of Principal Executive Offices)*

(724) 273-3400

(Registrant's Telephone Number, Including Area Code)

#### N/A
(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:

☒<br> 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:

---

| | | |
|:---|:---|:---|
| **Title of Each Class** | **Trading Symbol(s)** | **Name of Each Exchange on which Registered** |
| Common Stock, $0.01 par value<br>| DKS<br>| NYSE<br>|

---

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. ☐

------

---

| | |
|:---|:---|
| **ITEM 1.01.** | **ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.** |

---

#### Revolving Credit Facility

On June 6, 2025, DICK'S Sporting Goods, Inc. (the "Company") entered into a new revolving credit agreement (the "Credit Agreement"), with Wells Fargo Bank, National Association, as administrative agent, and certain other financial institutions party thereto, providing for a new $2.0 billion unsecured revolving credit facility (the "Revolving Credit Facility"), of which up to $75 million is available for letters of credit.

The Revolving Credit Facility will mature on June 6, 2030. The loans under the Revolving Credit Facility bear interest at an alternate base rate or an adjusted secured overnight financing rate plus, in each case, an applicable margin which will initially be 0.125% with respect to the alternate base rate and 1.125% with respect to the adjusted secured overnight financing rate, subject to adjustment based on the Company's public debt rating. The Revolving Credit Facility allows voluntary repayment of outstanding loans at any time without premium or penalty, other than customary "breakage" costs with respect to secured overnight financing rate loans. There is no required amortization under the Revolving Credit Facility.

The Credit Agreement contains representations and warranties, affirmative and negative covenants and events of default customary for unsecured financings of this type, including negative covenants that, among other things, limit the ability of the Company and certain of its subsidiaries to incur liens, limit the ability of the Company to make certain fundamental changes and limit the ability of the Company's non-guarantor subsidiaries to incur indebtedness, in each case subject to a number of important exceptions and qualifications. The Credit Agreement also contains a maximum lease-adjusted leverage ratio covenant.

The foregoing description of the Credit Agreement is qualified in its entirety by reference to the full text of the Credit Agreement, which is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.

---

| | |
|:---|:---|
| **ITEM 1.02.** | **TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT.** |

---

The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 1.02.

#### Termination of Existing Credit Agreement

In connection with entry into the Credit Agreement as described in Item 1.01 above, on June 6, 2025, the Company terminated all commitments and repaid all obligations under the Company's existing Amended and Restated Credit Agreement, dated as of January 14, 2022 (as amended, restated, supplemented or otherwise modified from time to time prior to such date, the "Existing Credit Agreement"), by and among the Company, the lenders and other parties from time to time party thereto, and Wells Fargo Bank, National Association, as administrative agent.

Upon the termination of the Existing Credit Agreement, all of the obligations under the Existing Credit Agreement were terminated.

------

---

| | |
|:---|:---|
| **ITEM 2.03.** | **CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.** |

---

The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

---

| | |
|:---|:---|
| **ITEM 8.01.** | **OTHER EVENTS.** |

---

#### Exchange Offer and Consent Solicitation

On June 6, 2025, the Company issued a press release announcing that, in connection with its anticipated acquisition (the "Acquisition") of Foot Locker, Inc. ("Foot Locker"), the Company has commenced an offer to exchange (the "Exchange Offer") any and all outstanding 4.000% Senior Notes due 2029 issued by Foot Locker (the "Foot Locker Notes") for (i) up to $400 million aggregate principal amount of new 4.000% Senior Notes due 2029 issued by the Company and a consent payment. In conjunction with the Exchange Offer, the Company, on behalf of Foot Locker, is soliciting consents (the "Consent Solicitation") for proposed amendments to the indenture governing the Foot Locker Notes. The Exchange Offer and Consent Solicitation are subject to the satisfaction of certain conditions, including the completion of the Acquisition. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated into this Item 8.01 by reference.

#### Pro Forma Financial Information

In connection with the Exchange Offer and Consent Solicitation, the Company is disclosing under this Item 8.01 in order to make available the unaudited pro forma financial information of the Company for the fiscal year ended February 1, 2025, which give effect to the Acquisition on the basis described therein. This information is included in Exhibit 99.2 and is incorporated into this Item 8.01 by reference.

#### IMPORTANT INFORMATION FOR INVESTORS AND STOCKHOLDERS.

This communication does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders or consents with respect to, any security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.

------

---

| | |
|:---|:---|
| **ITEM 9.01.** | **FINANCIAL STATEMENTS AND EXHIBITS** |

---

(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| [10.1](ef20050205_ex10-1.htm) | Credit Agreement, dated June 6, 2025, among DICK'S Sporting Goods, Inc., Wells Fargo Bank, National Association, as administrative agent, and the lenders and other parties thereto. |
| [99.1](ef20050205_ex99-1.htm) | Press Release issued by DICK'S Sporting Goods, Inc. dated June 6, 2025. |
| [99.2](ef20050205_ex99-2.htm) | Unaudited Pro Forma Condensed Combined Financial Information. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

#### Forward-Looking Statements Involving Known and Unknown Risks and Uncertainties
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified as those that may predict, forecast, indicate or imply future results or performance and by forward-looking words such as "believe", "anticipate", "expect", "estimate", "predict", "intend", "plan", "project", "goal", "will", "will be", "will continue", "will result", "could", "may", "might" or any variations of such words or other words with similar meanings. Any statements about DICK'S Sporting Goods, Inc.'s ("DICK'S Sporting Goods"), Foot Locker, Inc.'s ("Foot Locker") or the combined company's plans, objectives, expectations, strategies, beliefs, or future performance or events constitute forward-looking statements. These statements are subject to known and unknown risks, uncertainties, assumptions, estimates, and other important factors that change over time, many of which may be beyond DICK'S Sporting Goods', Foot Locker's and the combined company's control. DICK'S Sporting Goods', Foot Locker's and the combined company's future performance and actual results may differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements should not be relied upon as a prediction of actual results. Forward-looking statements include statements regarding, among other things, the benefits of the combination of DICK'S Sporting Goods and Foot Locker (the "Transaction"), including future financial and operating results and the combined company's plans, objectives, expectations, intentions, growth strategies and culture and other statements that are not historical facts.

------

Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements include, but are not limited to, current macroeconomic conditions, including prolonged inflationary pressures, potential changes to international trade relations, geopolitical conflicts and adverse changes in consumer disposable income; supply chain constraints, delays and disruptions; fluctuations in product costs and availability due to tariffs, currency exchange rate fluctuations, fuel price uncertainty and labor shortages; changes in consumer demand for products in certain categories and consumer lifestyle changes; intense competition in the sporting goods industry; the overall success of DICK'S Sporting Goods', Foot Locker's and the combined company's strategic plans and initiatives; DICK'S Sporting Goods', Foot Locker's and the combined company's vertical brand strategy and plans; DICK'S Sporting Goods', Foot Locker's and the combined company's ability to optimize their respective distribution and fulfillment networks to efficiently deliver merchandise to their stores and the possibility of disruptions; DICK'S Sporting Goods', Foot Locker's and the combined company's dependence on suppliers, distributors, and manufacturers to provide sufficient quantities of quality products in a timely fashion; the potential impacts of unauthorized use or disclosure of sensitive or confidential customer, employee, vendor or other information; the risk of problems with DICK'S Sporting Goods', Foot Locker's and the combined company's information systems, including e-commerce platforms; DICK'S Sporting Goods', Foot Locker's and the combined company's ability to attract and retain customers, executive officers and employees; increasing labor costs; the effects of the performance of professional sports teams within DICK'S Sporting Goods', Foot Locker's and the combined company's core regions of operations; DICK'S Sporting Goods', Foot Locker's and the combined company's ability to control expenses and manage inventory shrink; the seasonality of certain categories of DICK'S Sporting Goods', Foot Locker's and the combined company's operations and weather-related risks; changes in applicable tax laws, regulations, treaties, interpretations and other guidance; product safety and labeling concerns; the projected range of capital expenditures of DICK'S Sporting Goods, Foot Locker and the combined company, including costs associated with new store development, relocations and remodels and investments in technology; plans to return capital to stockholders through dividends and share repurchases, if any; DICK'S Sporting Goods', Foot Locker's and the combined company's ability to meet market expectations; the influence of DICK'S Sporting Goods' Class B common stockholders and associated possible scrutiny and public pressure; compliance and litigation risks; DICK'S Sporting Goods', Foot Locker's and the combined company's ability to protect their respective intellectual property rights or respond to claims of infringement by third parties; the availability of adequate capital; obligations and other provisions related to DICK'S Sporting Goods', Foot Locker's and the combined company's indebtedness; DICK'S Sporting Goods', Foot Locker's and the combined company's future results of operations and financial condition; the occurrence of any event, change or other circumstance that could give rise to the right of one or both of the parties to terminate the Transaction; the outcome of any legal proceedings that may be instituted against DICK'S Sporting Goods or Foot Locker, including with respect to the Transaction; the possibility that the Transaction does not close when expected or at all because required regulatory or shareholder approvals or other conditions to closing are not received or satisfied on a timely basis or at all (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the Transaction); the risk that the benefits from the Transaction, including anticipated cost synergies, may not be fully realized or may take longer to realize than expected; the ability to promptly and effectively integrate the businesses of DICK'S Sporting Goods and Foot Locker following the closing of the Transaction; the dilution caused by the issuance of shares of DICK'S Sporting Goods common stock in the Transaction; the possibility that a Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; the terms of the debt financing incurred in connection with the Transaction; reputational risk and potential adverse reactions of DICK'S Sporting Goods' or Foot Locker's customers, employees or other business partners; and the diversion of DICK'S Sporting Goods' and Foot Locker's management's attention and time from ongoing business operations and opportunities due to the Transaction. These factors are not necessarily all of the factors that could cause DICK'S Sporting Goods', Foot Locker's or the combined company's actual results, performance or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other factors, including unknown or unpredictable factors, also could harm DICK'S Sporting Goods', Foot Locker's or the combined company's results.

------

For additional information on these and other factors that could affect DICK'S Sporting Goods' or Foot Locker's actual results, see the risk factors set forth in DICK'S Sporting Goods' and Foot Locker's filings with the Securities and Exchange Commission (the "SEC"), including DICK'S Sporting Goods' most recent Annual Report on Form 10-K, filed with the SEC on March 27, 2025, and its other filings with the SEC, and Foot Locker's most recent Annual Report on Form 10-K, filed with the SEC on March 27, 2025, and its other filings with the SEC. DICK'S Sporting Goods and Foot Locker disclaim and do not undertake any obligation to update or revise any forward-looking statement in this communication, except as required by applicable law or regulation. Forward-looking statements included in this communication are made as of the date of this communication.

#### Additional Information about the Merger and Where to Find It
In connection with the Transaction, DICK'S Sporting Goods intends to file with the SEC a registration statement on Form S-4, which will include a proxy statement of Foot Locker that also constitutes a prospectus for the shares of DICK'S Sporting Goods common stock to be offered in the Transaction. Each of DICK'S Sporting Goods and Foot Locker may also file other relevant documents with the SEC regarding the Transaction. This communication is not a substitute for the proxy statement/prospectus or registration statement or any other document that DICK'S Sporting Goods or Foot Locker may file with the SEC. The definitive proxy statement/prospectus (if and when available) will be mailed to shareholders of Foot Locker. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT DICK'S SPORTING GOODS, FOOT LOCKER, THE TRANSACTION AND RELATED MATTERS. Investors and security holders will be able to obtain free copies of the registration statement and proxy statement/prospectus (if and when available) and other documents containing important information about DICK'S Sporting Goods, Foot Locker and the Transaction once such documents are filed with the SEC through the website maintained by the SEC at <u>www.sec.gov</u>. Copies of the documents filed with the SEC by DICK'S Sporting Goods will be available free of charge on DICK'S Sporting Goods' website at <u>https://investors.dicks.com</u>. Copies of the documents filed with the SEC by Foot Locker will be available free of charge on Foot Locker's website at <u>https://investors.footlocker-inc.com</u>.

------

#### Participants in the Solicitation
DICK'S Sporting Goods, Foot Locker and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the Transaction. Information about the directors and executive officers of DICK'S Sporting Goods is set forth in DICK'S Sporting Goods' proxy statement for its 2025 annual meeting of stockholders, which was filed with the SEC on May 2, 2025 and is available at [<u>https://www.sec.gov/ix?doc=/Archives/edgar/data/0001089063/000108906325000054/dks-20250501.htm</u>](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001089063/000108906325000054/dks-20250501.htm), under the headings "Corporate Governance," "Director Compensation," "Executive Compensation," "Transactions with Related Persons" and "Stock Ownership," DICK'S Sporting Goods' Annual Report on Form 10-K for the fiscal year ended February 1, 2025, which was filed with the SEC on March 27, 2025 and is available at [<u>https://www.sec.gov/ix?doc=/Archives/edgar/data/1089063/000108906325000012/dks-20250201.htm</u>](https://www.sec.gov/ix?doc=/Archives/edgar/data/1089063/000108906325000012/dks-20250201.htm), and to the extent holdings of DICK'S Sporting Goods securities by its directors or executive officers have changed since the amounts set forth in DICK'S Sporting Goods' proxy statement for its 2025 annual meeting of stockholders, such changes have been or will be reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 or Statements of Changes in Beneficial Ownership on Form 4, which are filed with the SEC. Information about the directors and executive officers of Foot Locker is set forth in Foot Locker's proxy statement for its 2025 annual meeting of shareholders, which was filed with the SEC on April 10, 2025 and is available at [<u>https://www.sec.gov/ix?doc=/Archives/edgar/data/850209/000110465925033769/tm2425908-3_def14a.htm</u>](https://www.sec.gov/ix?doc=/Archives/edgar/data/850209/000110465925033769/tm2425908-3_def14a.htm), under the headings "Governance," "Director Compensation," "Executive Compensation" and "Shareholder Ownership," Foot Locker's Annual Report on Form 10-K for the fiscal year ended February 1, 2025, which was filed with the SEC on March 27, 2025 and is available at [<u>https://www.sec.gov/ix?doc=/Archives/edgar/data/850209/000143774925009620/floc20241213_10k.htm</u>](https://www.sec.gov/ix?doc=/Archives/edgar/data/850209/000143774925009620/floc20241213_10k.htm), and to the extent holdings of Foot Locker securities by its directors or executive officers have changed since the amounts set forth in Foot Locker's proxy statement for its 2025 annual meeting of shareholders, such changes have been or will be reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 or Statements of Changes in Beneficial Ownership on Form 4, which are filed with the SEC.

Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the Transaction when such materials become available. Investors should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. Copies of the documents filed with the SEC by DICK'S Sporting Goods and Foot Locker will be available free of charge through the website maintained by the SEC at <u>www.sec.gov</u>. Additionally, copies of documents filed with the SEC by DICK'S Sporting Goods will be available free of charge on DICK'S Sporting Goods' website at <u>https://investors.dicks.com</u> and those filed by Foot Locker will be available free of charge on Foot Locker's website at <u>https://investors.footlocker-inc.com</u>.

------

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

---

| | | |
|:---|:---|:---|
|  | DICK'S SPORTING GOODS, INC. | DICK'S SPORTING GOODS, INC. |
| Date: June 6, 2025 | By: | <u>/s/ Navdeep Gupta</u> |
|  | Name: | Navdeep Gupta |
|  | Title: | Executive Vice President - Chief Financial Officer |

---

------

## Exhibit 10.1

------

**Exhibit 10.1**<br>

STRICTLY CONFIDENTIAL EXECUTION VERSION

#### CREDIT AGREEMENT

#### DATED AS OF JUNE 6, 2025

#### AMONG

#### DICK'S SPORTING GOODS, INC.,
as the Borrower,

THE LENDERS FROM TIME TO TIME PARTIES HERETO,

and

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent and an Issuing Lender

#### WELLS FARGO SECURITIES, LLC,
**GOLDMAN SACHS BANK USA**,

#### BOFA SECURITIES, INC.,

#### PNC BANK, NATIONAL ASSOCIATION and <br>

#### U.S. BANK NATIONAL ASSOCIATION,<br>

#### as Joint Lead Arrangers and Joint Bookrunners

#### WELLS FARGO BANK, NATIONAL ASSOCIATION,

#### GOLDMAN SACHS BANK USA,<br>

#### BANK OF AMERICA, N.A.,<br>

#### PNC BANK, NATIONAL ASSOCIATION and

#### U.S. BANK NATIONAL ASSOCIATION,

#### as Co-Syndication Agents<br>

#### <br>

#### TD SECURITIES (USA) LLC,

#### and

#### TRUIST BANK,

#### as Co-Documentation Agents

------

#### **TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
|  |  | <u>Page</u> |
|  | ARTICLE 1 |  |
|  | Definitions |  |
| **Section 1.01** | *Certain Defined Terms* | 1 |
| **Section 1.02** | *[Reserved]* | 34 |
| **Section 1.03** | *Letter of Credit Amounts* | 34 |
| **Section 1.04** | *Currency, Basket Calculations* | 34 |
| **Section 1.05** | *[Reserved]* | 35 |
| **Section 1.06** | *[Reserved]* | 35 |
| **Section 1.07** | *Rates* | 35 |

---

---

| | | |
|:---|:---|:---|
|  | ARTICLE 2 |  |
|  | The Credits |  |
| **Section 2.01** | *Description of Facility; Commitment* | 36 |
| **Section 2.02** | *Facility Termination Date* | 36 |
| **Section 2.03** | *Letters of Credit* | 37 |
| **Section 2.04** | *Types of Advances* | 42 |
| **Section 2.05** | *Fees; Reductions in Aggregate Commitment* | 43 |
| **Section 2.06** | *Minimum Amount of Each Advance* | 43 |
| **Section 2.07** | *Prepayments, Optional Prepayments* | 44 |
| **Section 2.08** | *Method of Selecting Types and Interest Periods for New Advances* | 44 |
| **Section 2.09** | *Conversion and Continuation of Outstanding Advances* | 45 |
| **Section 2.10** | *Interest Rates* | 46 |
| **Section 2.11** | *Rates Applicable After Default* | 46 |
| **Section 2.12** | *Method of Payment* | 46 |
| **Section 2.13** | *Noteless Agreement; Evidence of Indebtedness* | 46 |
| **Section 2.14** | *Interest Payment Dates; Interest and Fee Basis; Term SOFR Conforming Changes* | 48 |
| **Section 2.15** | *Notification of Advances, Interest Rates, Prepayments and Commitment Reductions; Availability of Revolving Loans* | 48 |
| **Section 2.16** | *Lending Installations* | 49 |
| **Section 2.17** | *Payments Generally; Administrative Agent's Clawback* | 49 |
| **Section 2.18** | *Replacement of Lender* | 50 |
| **Section 2.19** | *Sharing of Payments by Lenders* | 51 |
| **Section 2.20** | *Cash Collateral* | 51 |
| **Section 2.21** | *Defaulting Lenders* | 52 |
| **Section 2.22** | *Incremental Loans* | 54 |
| **Section 2.23** | *Extension* | 56 |
| **Section 2.24** | *Certain Funds Availability Date* | 57 |

---

&nbsp;&nbsp;&nbsp;&nbsp;<br>

ii

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ARTICLE 3

Yield Protection; Taxes

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| | | |
|:---|:---|:---|
| **Section 3.01** | *Yield Protection* | 57 |
| **Section 3.02** | *Changes in Capital Adequacy Regulations; Certificates for Reimbursement; Delay in Requests* | 58 |
| **Section 3.03** | *[Reserved]* | 59 |
| **Section 3.04** | *Compensation for Losses* | 60 |
| **Section 3.05** | *Taxes* | 60 |
| **Section 3.06** | *Mitigation Obligations* | 65 |
| **Section 3.07** | *Inability to Determine Rates; Replacing Benchmarks* | 66 |
| **Section 3.08** | *Survival* | 68 |

---

ARTICLE 4

Conditions Precedent

---

| | | |
|:---|:---|:---|
| **Section 4.01** | *Effectiveness* | 68 |
| **Section 4.02** | *Each Request for Credit Extension (other than the Certain Funds Advance)* | 70 |
| **Section 4.03** | *Certain Funds Advance* | 71 |
| **Section 4.04** | *Actions Between the Effective Date and the Foxtrot Closing Date* | 72 |

---

ARTICLE 5

Representations and Warranties

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| | | |
|:---|:---|:---|
| **Section 5.01** | *Existence and Standing* | 73 |
| **Section 5.02** | *Authorization and Validity* | 73 |
| **Section 5.03** | *No Conflict; Government Consent* | 73 |
| **Section 5.04** | *Financial Statements* | 74 |
| **Section 5.05** | *Material Adverse Effect* | 74 |
| **Section 5.06** | *[Reserved]* | 74 |
| **Section 5.07** | *Litigation* | 74 |
| **Section 5.08** | *Disclosure* | 74 |
| **Section 5.09** | *Regulation U* | 75 |
| **Section 5.10** | *Investment Company Act* | 75 |
| **Section 5.11** | *OFAC, FCPA* | 75 |
| **Section 5.12** | *Taxes* | 75 |
| **Section 5.13** | *Affected Financial Institution* | 75 |
| **Section 5.14** | *Solvency as of the Foxtrot Closing Date* | 75 |
| **Section 5.15** | *Use of Proceeds for Certain Funds Advance* | 75 |

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ARTICLE 6 <br>

Covenants

---

| | | |
|:---|:---|:---|
| **Section 6.01** | *Financial Reporting* | 76 |
| **Section 6.02** | *Use of Proceeds* | 77 |
| **Section 6.03** | *Notice of Default* | 78 |
| **Section 6.04** | *Conduct of Business* | 78 |
| **Section 6.05** | *Compliance with Laws* | 78 |
| **Section 6.06** | *Inspection; Keeping of Books and Records* | 78 |
| **Section 6.07** | *OFAC, FCPA* | 78 |
| **Section 6.08** | *[Reserved]* | 78 |
| **Section 6.09** | *Merger* | 79 |
| **Section 6.10** | *Non-Guarantor Subsidiary Indebtedness* | 79 |
| **Section 6.11** | *Liens* | 80 |
| **Section 6.12** | *Financial Covenant* | 82 |
| **Section 6.13** | *OFAC, FCPA* | 82 |
| **Section 6.14** | *Taxes* | 83 |

---

ARTICLE 7

Defaults

---

| | | |
|:---|:---|:---|
| **Section 7.01** | *Breach of Representations or Warranties* | 83 |
| **Section 7.02** | *Failure to Make Payments When Due* | 83 |
| **Section 7.03** | *Breach of Covenants* | 83 |
| **Section 7.04** | *Cross Default* | 83 |
| **Section 7.05** | *Voluntary Bankruptcy; Appointment of Receiver; Etc.* | 84 |
| **Section 7.06** | *Involuntary Bankruptcy; Appointment of Receiver; Etc.* | 84 |
| **Section 7.07** | *Judgments* | 84 |
| **Section 7.08** | *Unfunded Liabilities* | 85 |
| **Section 7.09** | *Change of Control* | 85 |
| **Section 7.10** | *Other ERISA Liabilities* | 85 |
| **Section 7.11** | *Invalidity of Loan Documents* | 85 |

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ARTICLE 8

Acceleration, Waivers, Amendments and Remedies

---

| | | |
|:---|:---|:---|
| **Section 8.01** | *Acceleration, Etc.* | 85 |
| **Section 8.02** | *Amendments* | 86 |
| **Section 8.03** | *Preservation of Rights* | 87 |

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ARTICLE 9

General Provisions

---

| | | |
|:---|:---|:---|
| **Section 9.01** | *Survival of Representations* | 88 |
| **Section 9.02** | *Governmental Regulation* | 88 |
| **Section 9.03** | *Headings* | 88 |
| **Section 9.04** | *Entire Agreement* | 88 |
| **Section 9.05** | *Several Obligations; Benefits of this Agreement* | 89 |
| **Section 9.06** | *Expenses; Indemnification* | 89 |
| **Section 9.07** | *Accounting* | 91 |
| **Section 9.08** | *Severability of Provisions* | 91 |
| **Section 9.09** | *Nonliability of Lenders* | 92 |
| **Section 9.10** | *Confidentiality* | 92 |
| **Section 9.11** | *Nonreliance* | 93 |
| **Section 9.12** | *Disclosure* | 93 |

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ARTICLE 10

The Administrative Agent

---

| | | |
|:---|:---|:---|
| **Section 10.01** | *Appointment and Authority* | 93 |
| **Section 10.02** | *Rights as a Lender* | 94 |
| **Section 10.03** | *Reliance by Administrative Agent* | 94 |
| **Section 10.04** | *Exculpatory Provisions* | 94 |
| **Section 10.05** | *Delegation of Duties* | 96 |
| **Section 10.06** | *Resignation of Administrative Agent* | 96 |
| **Section 10.07** | *Non-Reliance on Administrative Agent and Other Lenders* | 97 |
| **Section 10.08** | *No Other Duties, Etc.* | 98 |
| **Section 10.09** | *Administrative Agent May File Proofs of Claim* | 98 |
| **Section 10.10** | *ERISA* | 99 |
| **Section 10.11** | *Erroneous Payments* | 100 |

---

ARTICLE 11

Setoff

---

| | | |
|:---|:---|:---|
| **Section 11.01** | *Setoff* | 102 |

---

ARTICLE 12

Benefit of Agreement; Assignments; Participations

---

| | | |
|:---|:---|:---|
| **Section 12.01** | *Successors and Assigns* | 103 |
| **Section 12.02** | *Dissemination of Information* | 107 |
| **Section 12.03** | *Tax Treatment* | 107 |

---

ARTICLE 13 <br>

Notices

---

| | | |
|:---|:---|:---|
| **Section 13.01** | *Notices; Effectiveness; Electronic Communication* | 107 |

---

ARTICLE 14

Counterparts; Integration; Effectiveness; Electronic Execution

---

| | | |
|:---|:---|:---|
| **Section 14.01** | *Counterparts; Effectiveness* | 110 |
| **Section 14.02** | *Electronic Execution* | 110 |

---

ARTICLE 15

&nbsp;&nbsp;&nbsp;&nbsp;Choice of Law; Consent to Jurisdiction; Waiver of Jury Trial

---

| | | |
|:---|:---|:---|
| **Section 15.01** | *Choice of Law* | 111 |
| **Section 15.02** | *Consent to Jurisdiction* | 112 |
| **Section 15.03** | *Waiver of Jury Trial* | 112 |
| **Section 15.04** | *U.S. Patriot Act and Beneficial Ownership Regulation Notice* | 113 |
| **Section 15.05** | *No Advisory or Fiduciary Responsibility* | 113 |
| **Section 15.06** | *[Reserved]* | 113 |
| **Section 15.07** | *Acknowledgement and Consent to Bail-In of Affected Financial Institutions* | 113 |

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v

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ARTICLE 16

&nbsp;&nbsp;&nbsp;&nbsp;GUARANTEE

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| | | |
|:---|:---|:---|
| **Section 16.01** | *Guarantors* | 114 |
| **Section 16.02** | *Guarantee* | 114 |
| **Section 16.03** | *Guaranty Absolute* | 115 |
| **Section 16.04** | *Waivers* | 115 |
| **Section 16.05** | *Continuing Guaranty* | 116 |
| **Section 16.06** | *Release of Guarantors* | 116 |

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vi

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---

| | |
|:---|:---|
| **EXHIBITS** |  |
| Exhibit A | Form of Compliance Certificate |
| Exhibit B | Form of Assignment and Assumption |
| Exhibit C | Form of Prepayment Notice |
| Exhibit D | Form of Promissory Note |
| Exhibit E | Form of Borrowing Notice |
| Exhibit F | Form of Conversion/Continuation Notice |
| Exhibit G | Form of Officer's Certificate |
| Exhibit H-1 | Form of U.S. Tax Compliance Certificate |
| Exhibit H-2 | Form of U.S. Tax Compliance Certificate |
| Exhibit H-3 | Form of U.S. Tax Compliance Certificate |
| Exhibit H-4 | Form of U.S. Tax Compliance Certificate |
| Exhibit I | Form of Solvency Certificate (Foxtrot Transactions) |

---

---

| | | |
|:---|:---|:---|
| **SCHEDULES** |  |  |
| Pricing Schedule | Pricing Schedule | Pricing Schedule |
| Commitment Schedule | Commitment Schedule | Commitment Schedule |
| Schedule 2.03 | – | Existing Letters of Credit |
| Schedule 6.10 | – | Existing Specified Indebtedness for Borrowed Money |
| Schedule 13.01 | – | Certain Addresses for Notices |

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#### CREDIT AGREEMENT
This Credit Agreement, dated as of June 6, 2025, is among DICK'S Sporting Goods, Inc., a Delaware corporation (the "**Borrower**"), the Guarantors from time to time parties hereto, the institutions from time to time parties hereto as Lenders (whether by execution of this Agreement or an assignment pursuant to <u>Section 12.01</u>), and Wells Fargo Bank, National Association, as Administrative Agent and an Issuing Lender.

The Borrower has requested that the Lenders and the Administrative Agent enter into this Agreement to provide a revolving credit facility to the Borrower for the purposes set forth herein, and the Lenders and the Administrative Agent are willing to do so on the terms and conditions set forth herein. In consideration of the mutual covenants and agreements herein contained, the parties hereto covenant and agree as follows:

ARTICLE 1

Definitions

**Section 1.01**&nbsp;&nbsp;&nbsp;&nbsp; *Certain Defined Terms*. As used in this Agreement:

"**Acquired Business**" means the Foot Locker and its Subsidiaries.

"**Acquisition**" means any transaction or series of related transactions for the purpose of or resulting, directly or indirectly, in (a) the acquisition by the Borrower or any of its Subsidiaries of all or substantially all of the assets of a Person, or of any business or division of a Person, (b) the acquisition by the Borrower or any of its Subsidiaries of in excess of 50% of the capital stock, partnership interests, membership interests or equity of any Person (other than a Person that is a Subsidiary), or otherwise causing any Person to become a Subsidiary of the Borrower, (c) a merger or consolidation or any other combination by the Borrower or any of its Subsidiaries with another Person (other than a Person that is a Subsidiary) *provided* that the Borrower (or a Person that succeeds to the Borrower pursuant to <u>Section 6.09</u> in connection with such transaction or series of related transactions) or a Subsidiary of the Borrower (or a Person that becomes a Subsidiary of the Borrower as a result of such transaction) is the surviving entity; *provided* that any Person that is a Subsidiary at the time of execution of the definitive agreement related to any such transaction or series of related transactions (or, in the case of a tender offer or similar transaction, at the time of filing of the definitive offer document) shall constitute a Subsidiary for purposes of this definition even if in connection with such transaction or series of related transactions, such Person becomes a direct or indirect holding company of the Borrower or (d) the acquisition of real property by the Borrower or any of its Subsidiaries that is expected to be used in whole or in part in the normal operations of the Borrower or its Subsidiaries.

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"**Acquisition Debt**" means any Indebtedness of the Borrower or any of its Subsidiaries that has been issued for the purpose of financing, in whole or in part, a Material Acquisition and any related transactions or series of related transactions (including for the purpose of refinancing or replacing all or a portion of any pre-existing Indebtedness of the Borrower, any of its Subsidiaries or the Person(s) or assets to be acquired); *provided* that (a) (i) the release of the proceeds thereof to the Borrower and its Subsidiaries is contingent upon the consummation of such Material Acquisition and, pending such release, such proceeds are held pursuant to an escrow or similar arrangement and (ii) if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such Material Acquisition is terminated prior to the consummation of such Material Acquisition or if such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such proceeds shall be promptly applied to satisfy and discharge all obligations of the Borrower and its Subsidiaries in respect of such Indebtedness for Borrowed Money or (b) (i) such Indebtedness contains a "special mandatory redemption" provision (or other similar provision) or otherwise permits such Indebtedness to be redeemed or prepaid if such Material Acquisition is not consummated by the date specified in the definitive documentation relating to such Indebtedness for Borrowed Money, and (ii) if the definitive agreement (or, in the case of a tender offer or similar transaction, the definitive offer document) for such Material Acquisition is terminated in accordance with its terms prior to the consummation of such Material Acquisition or such Material Acquisition is otherwise not consummated by the date specified in the definitive documentation relating to such Indebtedness, such Indebtedness is so redeemed or prepaid within ninety (90) days of such termination or such specified date, as the case may be.

"**Actual Unused Commitments**" is defined in <u>Section 2.05(a)</u>.

"**Administrative Agent**" means Wells Fargo in its capacity as contractual representative of the Lenders pursuant to <u>Article 10</u>, and not in its individual capacity as a Lender, and any successor Administrative Agent appointed pursuant to <u>Article 10</u>.

"**Administrative Agent's Office**" means, with respect to any currency, the Administrative Agent's address and, as appropriate, account as set forth on <u>Schedule 13.01</u> with respect to such currency, or such other address or account with respect to such currency as the Administrative Agent may from time to time notify to the Borrower and the Lenders.

"**Advance**" means a Revolving Borrowing.

"**Affected Financial Institution**" means (a) any EEA Financial Institution or (b) any UK Financial Institution*.*

"**Affiliate**" of any Person means any other Person directly or indirectly controlling, controlled by or under common control with such Person. A Person shall be deemed to control another Person if the controlling Person is the "**beneficial owner**" (as defined in Rule 13d-3 under the Securities Exchange Act of 1934) of ten percent (10%) or more of any class of voting securities (or other voting interests) of the controlled Person or possesses, directly or indirectly, the power to direct or cause the direction of the management or policies of the controlled Person, whether through ownership of voting securities, by contract or otherwise.

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"**Affiliated Party**" means, with respect to any natural person, (a) any company, partnership, trust or other entity for which such natural person (or such natural person's estate) has dispositive or voting power with respect to any of the Borrower's common equity held by such company, partnership, trust or other entity; (b) any trust the beneficiaries of which consist solely of such natural person, any Immediate Family Member of such natural person or any person described in <u>clause (a)</u> above; (c) the trustees, legal representatives, beneficiaries or beneficial owners (in each case, solely in such capacity and not in their individual or other capacities) of any such company, partnership, trust or other entity referred to in <u>clause (a)</u> or <u>(b)</u> above; (d) the estates of such natural person (it being understood, for the avoidance of doubt, that this <u>clause (d)</u> will not include any person to whom any securities are transferred from any such estate); and (e) the Immediate Family Members of such natural person.

"**Agent**" means any of the Administrative Agent, the Arrangers, the Co-Syndication Agents or the Co-Documentation Agents, as appropriate, and "**Agents**" means, collectively, the Administrative Agent, the Arrangers, the Co-Syndication Agents and the Co-Documentation Agents.

"**Agent Parties**" is defined in <u>Section 13.01(c)</u>.

"**Aggregate Commitment**" means, at any time, the aggregate amount of the Commitments (including, for the avoidance of doubt, Certain Funds Commitments) of all of the Lenders at such time, as may be adjusted from time to time pursuant to the terms hereof. The Aggregate Commitment as of the Effective Date is Two Billion and 00/100 Dollars ($2,000,000,000.00).

"**Aggregate Outstanding Credit Exposure**" means, at any time, the aggregate of the Outstanding Credit Exposure with respect to all of the Lenders at such time.

"**Agreement**" means this Credit Agreement, as it may be amended, restated, supplemented or otherwise modified and as in effect from time to time.

"**Agreement Accounting Principles**" means GAAP, applied in a manner consistent with that used in preparing the financial statements of the Borrower referred to in <u>Section 5.04</u>; *provided*, *however*, that notwithstanding anything contained in <u>Section 9.07</u> to the contrary, if the Borrower notifies the Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change in GAAP occurring after the Effective Date (or any change in GAAP that occurred on or prior to the Effective Date but was not reflected in the financial statements included in the Borrower SEC Report) or in the application thereof on the operation of such provision, regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith.

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"**Alternate Base Rate**" means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate in effect for such day *plus* 1/2 of 1%, (b) the Prime Rate in effect for such day and (c) Term SOFR for a one-month tenor in effect on such day; *plus* 1.0% (*provided* that <u>clause (c)</u> of this definition shall not be applicable during any period in which Term SOFR is unavailable or unascertainable) or, if such day is not a Business Day, the immediately preceding Business Day. If the Alternate Base Rate is being used as an alternate rate of interest pursuant to <u>Section 3.07</u> (for the avoidance of doubt, only until the Benchmark Replacement has been determined pursuant to <u>Section 3.07</u>), then the Alternate Base Rate shall be the greater of <u>clauses (a)</u> and <u>(b)</u> above and shall be determined without reference to <u>clause (c)</u> above. If the Alternate Base Rate shall be less than the Floor, such rate shall be deemed to be the Floor for all purposes of this Agreement.

"**Alternate Base Rate Advance**" means an Advance which, except as otherwise provided in <u>Section 2.11</u>, bears interest at the Alternate Base Rate.

"**Alternate Base Rate Loan**" means a Revolving Loan, or portion thereof, which, except as otherwise provided in <u>Section 2.11</u>, bears interest at the Alternate Base Rate. All Alternate Base Rate Loans shall be denominated in Dollars.

"**Anti-Corruption Laws**" means all laws, rules and regulations of any jurisdiction applicable to the Borrower or any of its Subsidiaries from time to time concerning or relating to bribery, money laundering or corruption, including the United States Foreign Corrupt Practices Act of 1977, as amended.

"**Applicable Margin**" means, with respect to Advances of any Type at any time, the percentage rate per annum which is applicable at such time with respect to Advances of such Type as set forth under the heading "Applicable Margin" in the Pricing Schedule.

"**Approved Fund**" means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender.

"**Arrangers**" means Wells Fargo Securities, LLC, Goldman Sachs Bank USA, BofA Securities, Inc., PNC Bank, National Association and U.S. Bank National Association, in their capacity as Joint Lead Arrangers.

"**Article**" means an Article of this Agreement unless another document is specifically referenced.

"**Assignee Group**" means two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds managed by the same investment advisor.

"**Assignment and Assumption**" means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required by <u>Section 12.01</u>), and accepted by the Administrative Agent, in substantially the form of <u>Exhibit B</u> or any other form approved by the Administrative Agent.

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"**Authorized Officer**" means any of the Chairman of the Board of Directors, the President, the Chairman, the Chief Executive Officer, the Chief Financial Officer, the Chief Operating Officer, the Chief Accounting Officer, any Senior Vice President, any Vice President, the Treasurer, the Assistant Treasurer, the principal accounting officer, the Controller or the Secretary or any Assistant Secretary of the Borrower and, solely for purposes of notices given pursuant to <u>Article 2</u>, any other officer or employee of the Borrower so designated by any of the foregoing officers in a notice to the Administrative Agent or any other officer or employee of the Borrower designated in or pursuant to an agreement between the Borrower and the Administrative Agent, in each case acting in accordance with the terms of the signing authority granted in the Secretary or Assistant Secretary's certificate delivered to the Administrative Agent pursuant to <u>Section 4.01(h)</u> (including any supplements thereto delivered to the Administrative Agent from time to time by way of an officers' certificate jointly executed by two Authorized Officers).

"**Available Tenor**" means, as of any date of determination and with respect to any then-current Benchmark, as applicable, (x) if such Benchmark is a term rate, any tenor for such Benchmark (or component thereof) that is or may be used for determining the length of an Interest Period pursuant to this Agreement or (y) otherwise, any payment period for interest calculated with reference to such Benchmark (or component thereof) that is or may be used for determining any frequency of making payments of interest calculated with reference to such Benchmark, in each case, as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of "Interest Period" pursuant to <u>Section 3.07(c)(iv)</u>.

"**Bail-In Action**" means the exercise of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected Financial Institution.

"**Bail-In Legislation**" means (a) with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law 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).

"**Bank of America**" means Bank of America, N.A., in its individual capacity, and its successors.

"**Bank of America Fee Letter**" means the Bank of America Fee Letter, dated as of June 6, 2025, between the Borrower, Bank of America and BofA Securities, Inc.<br>

"**Benchmark**" means, initially, the Term SOFR Reference Rate; *provided* that if a Benchmark Transition Event has occurred with respect to the Term SOFR Reference Rate or the then-current Benchmark, then "Benchmark" means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to <u>Section 3.07(c)(i)</u>.

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"**Benchmark Replacement**" means, with respect to any Benchmark Transition Event, the sum of (1) the alternate benchmark rate that has been selected by the Administrative Agent and the Borrower giving due consideration to (i) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement to the then-current Benchmark for Dollar-denominated syndicated credit facilities and (2) the related Benchmark Replacement Adjustment;

*provided* that, if such Benchmark Replacement as so determined pursuant to <u>clause (1)</u> or <u>(2)</u> above would be less than the Floor, such Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents.

"**Benchmark Replacement Adjustment**" means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable Available Tenor, the spread adjustment, or method for calculating or determining such spread adjustment (which may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrower giving due consideration to (a) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body or (b) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for Dollar-denominated syndicated credit facilities at such time.

"**Benchmark Replacement Date**" means the earliest to occur of the following events with respect to the then-current Benchmark:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp; in the case of <u>clause (a)</u> or <u>(b)</u> of the definition of "Benchmark Transition Event," the later of (i) the date of the public statement or publication of information referenced therein and (ii) the date on which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; in the case of <u>clause (c)</u> of the definition of "Benchmark Transition Event," the first date on which such Benchmark (or the published component used in the calculation thereof) has been determined and announced by the regulatory supervisor for the administrator of such Benchmark (or such component thereof) to be non-representative; *provided* that such non-representativeness will be determined by reference to the most recent statement or publication referenced in such <u>clause (c)</u> and even if any Available Tenor of such Benchmark (or such component thereof) continues to be provided on such date.

For the avoidance of doubt, the "Benchmark Replacement Date" will be deemed to have occurred in the case of <u>clause (a)</u> or <u>(b)</u> with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof).

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"**Benchmark Transition Event**" means, with respect to any then-current Benchmark, the occurrence of one or more of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently or indefinitely; *provided* that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the FRB, the Federal Reserve Bank of New York, the Term SOFR Administrator, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), in each case, which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely; *provided* that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp; a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are not, or as of a specified future date will not be, representative.

For the avoidance of doubt, a "Benchmark Transition Event" will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof).

"**Benchmark Transition Start Date**" means, in the case of a Benchmark Transition Event, the earlier of (a) the applicable Benchmark Replacement Date and (b) if such Benchmark Transition Event is a public statement or publication of information of a prospective event, the 90th day prior to the expected date of such event as of such public statement or publication of information (or if the expected date of such prospective event is fewer than 90 days after such statement or publication, the date of such statement or publication).

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"**Benchmark Unavailability Period**" means the period (if any) (x) beginning at the time that a Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with <u>Section 3.07(c)(i)</u> and (y) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with <u>Section 3.07(c)(i)</u>.

"**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 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**".

"**Borrower**" is defined in the preamble hereto.

"**Borrower Materials**" is defined in <u>Section 6.01</u>.

"**Borrower SEC Report**" means the Borrower's Annual Report on Form 10-K for the fiscal year ended February 1, 2025.

"**Borrowing Date**" means a date on which an Advance is made or a Letter of Credit is issued hereunder.

"**Borrowing Notice**" is defined in <u>Section 2.08</u>.

"**Bridge Facility**" means an up to $2,400,000,000 senior unsecured 364-day bridge loan facility committed pursuant to that certain Commitment Letter, dated as of May 15, 2025, among the Borrower and Goldman Sachs Bank USA pertaining to the Foxtrot Transactions.

"**Business Day**" means any day that is not a Saturday, Sunday or other day on which the Federal Reserve Bank of New York is closed.

"**Cash Collateralize**" means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of one or more of the Issuing Lenders or Lenders, as collateral for L/C Obligations or obligations of Lenders to fund participations in respect of L/C Obligations, cash or deposit account balances, in each case denominated in Dollars, or, if the applicable Issuing Lender shall agree in its sole discretion, other credit support, in each case pursuant to documentation in form and substance reasonably satisfactory to the applicable Issuing Lender. "**Cash Collateral**" shall have a meaning analogous to the foregoing and shall include the proceeds of such cash collateral and other credit support.

"**Certain Funds Advance**" means a Revolving Loan, denominated in Dollars, to the Borrower made or to be made during the Certain Funds Period solely to fund Certain Funds Purposes, which is designated by the Borrower as a Certain Funds Advance in the Borrowing Notice related thereto.

"**Certain Funds Availability Date**" has the meaning specified in <u>Section 2.24</u>.

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"**Certain Funds Commitment**" means, with respect to a Lender, its Commitment hereunder to fund the Certain Funds Advance in an amount equal to its pro rata share of the Certain Funds Sublimit.

"**Certain Funds Period**" means the period from and including the Effective Date to the earliest of 11:59 p.m. (New York City time) on (a) the date that is five (5) Business Days after the Foxtrot Outside Date, (b) the closing of the Foxtrot Acquisition (after giving effect to the funding of any Certain Funds Advance), (c) the date on which the Foxtrot Acquisition Agreement is validly terminated in accordance with its terms, (d) the date on which the Borrower notifies the Administrative Agent in writing that pursuit of the Foxtrot Acquisition is being abandoned by the Borrower and (e) the date of receipt by the Administrative Agent of written notice from the Borrower of the Borrower's election to terminate all Commitments hereunder in full.

"**Certain Funds Purposes**" means (i) the payment of amounts owing pursuant to the Foxtrot Acquisition Agreement, (ii) the repayment of existing indebtedness of the Acquired Business and (iii) the payment of fees, costs and expenses related to the Foxtrot Transactions.

"**Certain Funds Sublimit**" means $250,000,000, which shall automatically be reduced $0 on the Foxtrot Closing Date (after giving effect to any Certain Funds Advance made on such date). The Certain Funds Sublimit is part of, and not in addition to, the Commitments, and shall expire at the end of the Certain Funds Period.

"**Change in Law**" means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority or (c) the making or issuance of any request, guideline or directive (whether or not having the force of law) by any Governmental Authority; *provided* that, notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives promulgated thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States regulatory authorities, in each case pursuant to Basel III, shall in the case of <u>clause (x)</u> above and this <u>clause (y)</u> be deemed to be a "Change in Law", regardless of the date enacted, adopted, issued, promulgated or implemented.

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"**Change of Control**" means (a) an event or series of events by which any "person" or "group" (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan), in each case, other than (x) the Borrower, (y) the Permitted Holders or (z) any employee benefit plan of any such person or any of its Subsidiaries and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan, becomes the "beneficial owner" (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934), directly or indirectly, of more than 50.0% of the then-outstanding shares of capital stock or equivalent interests of the Borrower the holders of which are, as of any given date, entitled to vote generally in the election of the board of directors or equivalent governing body of the Borrower on a fully diluted basis (the "**Voting Stock**"), *provided*, *however*, that a person shall not be deemed the beneficial owner of, or to own beneficially, (A) any securities tendered pursuant to a tender or exchange offer made by or on behalf of such person or any of such person's affiliates until such tendered securities are accepted for purchase or exchange thereunder, or (B) any securities if such beneficial ownership (i) arises solely as a result of a revocable proxy delivered in response to a proxy or consent solicitation made pursuant to the applicable rules and regulations under the Securities Exchange Act of 1934, and (ii) is not also then reportable on Schedule 13D (or any successor schedule) under the Securities Exchange Act of 1934, or (b) occupation of a majority of the seats (other than vacant seats) on the board of directors of the Borrower by persons (i) who were not members of the board of directors of the Borrower on the Effective Date and (ii) whose election to the board of directors of the Borrower or whose nomination for election by the stockholders of the Borrower was not approved by a majority of the members of the board of directors of the Borrower then still in office who were either members of the board of directors on the Effective Date or whose election or nomination for election was previously so approved. Notwithstanding the foregoing, a transaction will not be considered to be a Change of Control if (A) the Borrower becomes a direct or indirect wholly owned subsidiary of another person (other than, for the avoidance of doubt, any of its Subsidiaries) and (B) either (i) the shares of the Borrower's Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of such person immediately after giving effect to such transaction or (ii) immediately following such transaction, no person (other than a person satisfying the requirements of this sentence) is the beneficial owner, directly or indirectly of more than 50.0% of the voting power of all of the Voting Stock of such person.

"**Co-Documentation Agents**" means TD Securities (USA) LLC and Truist Bank, in their capacity as co-documentation agents for the Lenders, and not in their individual capacity as Lenders.

"**Co-Syndication Agents" means Wells Fargo Securities, LLC, Goldenman Sachs Bank USA, BofA Securities, Inc., PNC Bank , National Association and U.S. Bank National Association, in its capacity as syndication agents for the Lenders, and not in their individual capacity as Lenders.**

"**Code**" means the Internal Revenue Code of 1986, as amended, reformed or otherwise modified from time to time.

"**Commitment**" means, for each Lender, the obligation of such Lender to (i) make Revolving Loans to the Borrower pursuant to <u>Section 2.01(a)</u> and (ii) purchase participations in L/C Obligations pursuant to <u>Section 2.03</u>, in an aggregate principal amount not to exceed the amount set forth on the Commitment Schedule (which schedule shall set forth each Lender's Commitment as of the Effective Date) or in an Assignment and Assumption executed pursuant to <u>Section 12.01</u>, as it may be modified as a result of any assignment that has become effective pursuant to <u>Section 12.01</u> or as otherwise modified from time to time pursuant to the terms hereof.

"**Commitment Fee**" is defined in <u>Section 2.05</u>.

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"**Commitment Schedule**" means the Schedule attached hereto and identified as such, identifying each Lender's Commitment and each Issuing Lender's L/C Commitment as of the Effective Date.

"**Communication**" is defined in <u>Section 14.02</u>.

"**Conforming Changes**" means, with respect to either the use or administration of Term SOFR or the use, administration, adoption or implementation of any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of "Alternate Base Rate," the definition of "Business Day," the definition of "U.S. Government Securities Business Day," the definition of "Interest Period" or any similar or analogous definition (or the addition of a new concept of "interest period"), timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of Section 3.04 and other technical, administrative or operational matters) that the Administrative Agent decides, after consultation with the Borrower, in its reasonable discretion may be appropriate to reflect the adoption and implementation of any such rate or to permit the use and administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides in its reasonable discretion that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines in its reasonable discretion that no market practice for the administration of any such rate exists, in such other manner of administration as the Administrative Agent decides in its reasonable discretion is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

"**Consenting Lender**" is defined in <u>Section 2.23</u>.

"**Consolidated Assets**" means, at any date of determination, the total amount, as shown on or reflected in the most recent consolidated balance sheet of the Borrower and its Subsidiaries as at the end of the Borrower's fiscal quarter ending prior to such date, of all assets of the Borrower and its consolidated subsidiaries on a consolidated basis in accordance with Agreement Accounting Principles (giving pro forma effect to any acquisition or disposition of Property of the Borrower or any of its subsidiaries involving the payment or receipt of consideration by the Borrower or any of its subsidiaries in excess of $500,000,000 that has occurred since the end of such fiscal quarter as if such acquisition or disposition had occurred on the last day of such fiscal quarter).

"**Consolidated EBITDAR**" means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, (X) an amount equal to Consolidated Net Income 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;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the following (without duplication) to the extent deducted in calculating such Consolidated Net Income for such period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consolidated Interest Charges for 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the provision for federal, state, local and foreign income taxes payable by the Borrower and its Subsidiaries for such period, including, without limitation, any franchise taxes or other taxes based on income, profits or capital and all other taxes that are included in the provision for income tax line item on the consolidated income statement of the Borrower and its Subsidiaries for such period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp; depreciation and amortization expense (excluding, for avoidance of doubt, amortization of deferred commissions, capitalized costs to acquire revenue contracts or substantially equivalent items) for such period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [*reserved*];

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; all non-cash expenses, losses or charges for such period (other than any such non-cash expenses, losses or charges that represent an accrual or reserve for future cash expenses, losses or charges or that relate to the write-down of current assets), including, without limitation, non-cash stock based employee compensation expenses for such period and non-cash expenses, losses or charges for such period in connection with (A) "goodwill impairment losses" and "intangible asset impairment losses" under FASB Accounting Standard Codification 350, (B) unrealized losses resulting from mark-to-market accounting in respect of Rate Management Transactions and (C) unrealized losses on equity investments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&nbsp;&nbsp; in connection with any Acquisition (except for an Acquisition of the type set forth in <u>clause (d)</u> of the definition thereof) or non-ordinary course disposition of Property, all non-recurring restructuring costs, facilities relocation costs, acquisition or disposition integration costs and fees, including cash severance payments, and non-recurring fees and expenses, in each case paid during such period in connection with such Acquisition or non-ordinary course disposition of Property and within twelve (12) months of the completion of such Acquisition or non-ordinary course disposition of Property, as applicable; *provided* that the amount added back to Consolidated Net Income pursuant to this <u>sub-clause (vi)</u> in respect of any such costs, fees, payments and expenses paid in cash in connection with all such Acquisitions and non-ordinary course dispositions shall not exceed 15% of Consolidated EBITDAR (calculated before giving effect to this <u>sub-clause (vi)</u> in the aggregate for any period of four fiscal quarters of the Borrower); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp; any extraordinary, unusual or non-recurring expenses, charges or losses;

*minus*

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the following (without duplication) to the extent included in calculating such 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp; any extraordinary gains (less all fees and expenses related thereto);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [*reserved*]; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; all non-cash income or gains for such period including, without limitation, unrealized gains resulting from mark-to-market accounting in respect of Rate Management Transactions and unrealized gains on equity investments.

*plus*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Y) Consolidated Rental Expense during such period.

In addition, in the event that the Borrower or any of its subsidiaries, during the relevant period, consummated an acquisition or disposition of Property involving the payment or receipt of consideration by the Borrower or any of its subsidiaries in excess of $500,000,000, Consolidated EBITDAR will be determined giving pro forma effect to such acquisition or disposition as if such acquisition or disposition and any related incurrence or repayment of Indebtedness had occurred on the first day of the relevant period, but shall not take into account any cost savings projected to be realized as a result of such acquisition or disposition.

"**Consolidated Interest Charges**" means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, the sum of, without duplication, (a) all interest, premium payments, amortization of debt discount, fees, charges and related expenses in connection with Indebtedness (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the extent treated as interest in accordance with Agreement Accounting Principles *plus* (b) the portion of rent expense with respect to such period under Finance Leases that is treated as interest in accordance with Agreement Accounting Principles.

"**Consolidated Leverage Ratio**" means, as of any date of determination, the ratio of (a) Lease Adjusted Indebtedness for Borrowed Money of the Borrower and its Subsidiaries on a consolidated basis as of such date to (b) Consolidated EBITDAR for the most recently completed four fiscal quarters.

"**Consolidated Net Income**" means, for any period, for the Borrower and its Subsidiaries calculated on a consolidated basis, net income for that period, as determined in accordance with Agreement Accounting Principles.

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"**Consolidated Net Tangible Assets**" means, as of any date of determination, total assets, less goodwill and other intangible assets, less total current liabilities in each case, as shown on or reflected in the most recent consolidated balance sheet of the Borrower and its Subsidiaries as at the end of the Borrower's fiscal quarter ending prior to such date, on a consolidated basis in accordance with Agreement Accounting Principles (giving pro forma effect to any acquisition or disposition of Property of the Borrower or any of its Subsidiaries involving the payment or receipt of consideration by the Borrower or any of its Subsidiaries in excess of $500,000,000 that has occurred since the end of such fiscal quarter as if such acquisition or disposition had occurred on the last day of such fiscal quarter).

"**Consolidated Rental Expense**" means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, the aggregate rental expense (excluding variable real estate taxes and common area maintenance charges and contingent or percentage rental expense) in respect of all rent obligations under all leases (including Finance Leases and Operating Leases) for real or personal property *minus* any rental income of the Borrower and its Subsidiaries on a consolidated basis for such period, all as determined in accordance with Agreement Accounting Principles.

"**Contingent Obligation**" means, for any Person, any agreement, undertaking or arrangement by which such Person assumes, guarantees, endorses, contingently agrees to purchase or provide funds for the payment of, or otherwise becomes or is contingently liable upon, the obligation or liability of any other Person that constitute Indebtedness (other than Indebtedness of the type described in <u>clause (v)</u> of the definition of such term), or agrees to maintain the net worth or working capital or other financial condition of any other Person, or otherwise assures any creditor of such other Person against loss, including, without limitation, any comfort letter, operating agreement, take-or-pay contract or the obligations of any such Person as general partner of a partnership with respect to the liabilities of the partnership.

"**Controlled Group**" means all members of a controlled group of corporations or other business entities and all trades or businesses (whether or not incorporated) under common control or treated as a single employer with the Borrower or any of its Subsidiaries, in each case, under Section 414 of the Code.

"**Conversion/Continuation Notice**" is defined in <u>Section 2.09</u>.

"**Debtor Relief Laws**" means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally.

"**Declining Lender**" is defined in <u>Section 2.23</u>.

"**Default**" means an event described in <u>Article 7</u>.

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"**Defaulting Lender**" means, subject to <u>Section 2.21(g)</u>, any Lender that (a) has failed to (i) perform any of its funding obligations hereunder, including in respect of its Loans, within three (3) Business Days of the date required to be funded by it hereunder unless such Lender notifies the Administrative Agent in writing that such failure is the result of such Lender's good faith determination that one or more conditions precedent to funding has not been satisfied (which conditions precedent, together with the applicable default, if any, will be specifically identified in such writing) or (ii) pay to the Administrative Agent, any Issuing Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in Letters of Credit) within three (3) Business Days of the date when due, (b) has notified the Borrower, the Administrative Agent or any Issuing Lender in writing that it does not intend to comply with its funding obligations or has made a public statement to that effect with respect to its funding obligations hereunder, or generally under other agreements in which it commits to extend credit, unless such notification or public statement relates to such Lender's obligation to fund a Loan hereunder and states that such position is based on such Lender's determination that a condition precedent to funding cannot be satisfied (which conditions precedent, together with the applicable default, if any, will be specifically identified in such writing or public statement), (c) has failed, within three (3) Business Days after written request by the Administrative Agent or the Borrower to confirm in a manner satisfactory to the Administrative Agent or the Borrower, as applicable, that it will comply with its funding obligations, which request was made because of a reasonable concern by the Administrative Agent or the Borrower that such Lender may not be able to comply with its funding obligations hereunder; *provided* that such Lender shall cease to be a Defaulting Lender pursuant to this <u>clause (c)</u> upon receipt of such written confirmation by the Administrative Agent or the Borrower, or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or a custodian appointed for it, (iii) become the subject of a Bail-In Action or (iv) taken any action in furtherance of, or indicated its consent to, approval of or acquiescence in any such proceeding or appointment; *provided* that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority unless such ownership or equity results in or provides such Lender with immunity from the jurisdiction of courts within the United States or any other nation or from the enforcement of judgments or writs of attachment on its assets or permits such Lender (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above, and of the effective date of such status, shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to <u>Section 2.21(g)</u>) as of the date established therefor by the Administrative Agent in a written notice of such determination, which shall be delivered by the Administrative Agent to the Borrower, each Issuing Lender and each other Lender promptly following such determination.

"**Designated Jurisdiction**" means any country or territory to the extent that such country or territory itself is the subject or target of any Sanction.

"**Disposition**" means any sale, transfer or other disposition, or series of related sales, transfers, or dispositions (including pursuant to any merger, amalgamation or consolidation or by means of a "plan of division" under the Delaware Limited Liability Company Act or any comparable transaction under any similar law), of all or substantially all of the assets of the Borrower and its Subsidiaries, taken as a whole.

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"**Disqualified Stock**" means any capital stock that, 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, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder thereof, in whole or in part, on or prior to the date that is ninety-one (91) days after the Facility Termination Date.

"**Dollar**" and "**$**" means dollars in the lawful currency of the United States of America.

"**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 <u>clause (a)</u> of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in <u>clauses (a)</u> or <u>(b)</u> of this definition and is subject to consolidated supervision with its parent.

"**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.

"**Effective Date**" means the date on which all of the conditions specified in <u>Section 4.01</u> shall first be satisfied (or waived), which date is June 6, 2025.

"**Eligible Assignee**" means any Person that meets the requirements to be an assignee under <u>Section 12.01(b)(v)</u>, <u>(vi)</u> and <u>(vii)</u> (subject to such consents, if any, as may be required under <u>Section 12.01(b)(iii)</u>).

"**Environmental Laws**" means any and all federal, state, local and foreign statutes, laws, judicial decisions, regulations, ordinances, rules, judgments, orders, decrees, plans, injunctions, permits, concessions, grants, franchises, licenses, agreements and other governmental restrictions relating to (a) the protection of the environment, (b) the effect of the environment on human health, (c) emissions, discharges or releases of pollutants, contaminants, hazardous substances or wastes into surface water, ground water or land, or (d) the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of pollutants, contaminants, hazardous substances or wastes or the clean-up or other remediation thereof.

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"**Environmental Liability**" means any liability, contingent or otherwise (including any liability for damages, cost of environmental remediation, fines, penalties or indemnities), 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.

"**ERISA**" means the Employee Retirement Income Security Act of 1974, as amended from time to time, including (unless the context otherwise requires) the rules or regulations promulgated thereunder.

"**Erroneous Payment**" is defined in <u>Section 10.11(a)</u>.

"**Erroneous Payment Deficiency Assignment**" is defined in <u>Section 10.11(d)</u>.

"**Erroneous Payment Impacted Class**" is defined in <u>Section 10.11(d)</u>.

"**Erroneous Payment Return Deficiency**" is defined in <u>Section 10.11(d)</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.

"**Excluded Taxes**" means any of the following Taxes imposed on, with respect to, or required to be withheld or deducted from a payment to, the Administrative Agent, any Lender or any other recipient of any payment to be made by or on account of any obligation of the Borrower hereunder, (a) Taxes imposed on or measured by its net income (however denominated), franchise Taxes, and branch profits or similar Taxes, in each case, imposed by the jurisdiction (or any political subdivision thereof) (i) under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable Lending Installation is located, or (ii) that are Other Connection Taxes, (b) any backup withholding Tax that is required by the Code to be withheld from amounts payable to a Lender that has failed to comply with <u>Section 3.05(e)(ii)</u>, (c) in the case of a Lender, any U.S. federal withholding Tax that is required to be imposed on amounts payable to such Lender (other than an assignee pursuant to a request by the Borrower under <u>Section 2.18</u>) pursuant to the laws in force at the time such Lender becomes a party hereto (or designates a new Lending Installation), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new Lending Installation (or assignment), to receive additional amounts from the Borrower with respect to such withholding Tax pursuant to <u>Section 3.05(a)(i)</u> or <u>(ii)</u>, (d) in the case of a Lender, any withholding Tax that is attributable to such Lender's failure to comply with <u>Section 3.05(e)</u> and (e) any U.S. federal withholding Taxes imposed under FATCA.

"**Exhibit**" refers to an exhibit to this Agreement, unless another document is specifically referenced.

"**Existing Credit Agreement**" means that certain Amended and Restated Credit Agreement, dated as of January 14, 2022, among the Borrower, the lenders and other persons from time to time party thereto and Wells Fargo, as administrative agent and letter of credit issuer (as amended, restated, supplemented or otherwise modified prior to the date hereof).

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"**Existing Letter of Credit**" means each letter of credit listed on Schedule 2.03 issued prior to the Effective Date by a Person that is a Lender as of the Effective Date, which schedule shall be delivered to the Administrative Agent on or prior to the Effective Date.

"**Existing Stated Maturity Date**" is defined in <u>Section 2.23</u>.

"**Extension Date**" is defined in <u>Section 2.23</u>.

"**Facility Termination Date**" means the earliest of (a) five (5) years following the Effective Date, or any later date to which this date may be extended pursuant to <u>Section 2.23</u>, *provided* that, in each case, if such date is not a Business Day, such date shall be the immediately preceding Business Day (this <u>clause (a)</u>, the "**Stated Maturity Date**") and (b) the date of termination in whole of the Aggregate Commitment pursuant to <u>Section 2.05</u> or <u>Section 8.01</u> hereof.

"**FATCA**" means Sections 1471-1474 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) and any current or future regulations promulgated thereunder or official interpretations thereof and any agreements entered into pursuant to Section 1471(b) of the Code, any intergovernmental agreements, treaty or convention entered into in connection with the implementation of the foregoing and any laws, rules and regulations adopted by a non-U.S. jurisdiction to effect any such intergovernmental agreement, treaty or convention.

"**Federal Funds Rate**" means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; *provided* that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Wells Fargo on such day on such transactions as determined by the Administrative Agent.

"**Fee Letters**" means (a) the Wells Fargo Fee Letter and (b) the Bank of America Fee Letter.

"**Finance Lease**" of a Person means any lease of Property by such Person classified as a "finance lease" or "financing obligation" under GAAP, but excluding, for the avoidance of doubt, any Operating Lease.

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"**Finance Lease Obligations**" of a Person means the amount of the obligations of such Person under Finance Leases which would be shown as a liability on a balance sheet of such Person under GAAP.

"**Floor**" means a rate of interest equal to zero.

"**Foot Locker**" means Foot Locker, Inc., a New York corporation.

"**Foot Locker Credit Agreement**" means that certain Credit Agreement, dated as of May 19, 2016, by and among Foot Locker, the guarantors from time to time party thereto, the lenders from time to time party thereto, and Wells Fargo, as administrative agent and collateral agent, as amended by Amendment No. 1, dated as of July 14, 2020, Amendment No. 2, dated as of May 19, 2021, Amendment No. 3, dated as of April 21, 2023 and Amendment No. 4, dated as of June 20, 2024, and as further amended, restated, amended and restated, supplemented, otherwise modified, or replaced, from time to time.

"**Foreign Lender**" means any Lender that is not organized under the laws of the United States, any State thereof or the District of Columbia.

"**Foreign Pension Plan**" means any defined benefit plan as described in Section 3(35) of ERISA for which the Borrower, any Subsidiary or any member of the Controlled Group is a sponsor or administrator or to which the Borrower, any Subsidiary or any member of the Controlled Group has any liability, and which (a) is maintained or contributed to for the benefit of employees of the Borrower, any of its respective Subsidiaries or any member of its Controlled Group, (b) is not covered by ERISA pursuant to Section 4(b)(4) of ERISA, and (c) under applicable local law, is required to be funded through a trust or other funding vehicle.

"**Foxtrot Acquisition**" means the Borrower's direct or indirect acquisition of all of the outstanding equity interests of Foot Locker in the manner contemplated by the Foxtrot Acquisition Agreement.

"**Foxtrot Acquisition Agreement**" means that certain Agreement and Plan of Merger, dated as of May 15, 2025, by and among the Borrower, Foxtrot Merger Sub and Foot Locker.

"**Foxtrot Acquisition Agreement Representations**" means such of the representations and warranties made by Foot Locker in the Foxtrot Acquisition Agreement as are material to the interests of the Lenders, but only to the extent that the Borrower has the right (taking into account any applicable cure provisions) to terminate its obligations under the Foxtrot Acquisition Agreement or decline to consummate the Foxtrot Acquisition as a result of a breach of such representations in the Foxtrot Acquisition Agreement.

"**Foxtrot Closing Date**" means the date of consummation of the Foxtrot Acquisition.

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"**Foxtrot Merger Sub**" means RJS Sub LLC, a New York limited liability company and a wholly owned Subsidiary of the Borrower.

"**Foxtrot Material Adverse Effect**" means "Company Material Adverse Effect" (as defined in the Foxtrot Acquisition Agreement on May 15, 2025).

"**Foxtrot Outside Date**" means "Outside Date" (as defined in the Foxtrot Acquisition Agreement as in effect as of May 15, 2025 and as it may be extended pursuant to Section 9.1(d) of the Foxtrot Acquisition Agreement as in effect as of May 15, 2025).

"**Foxtrot Transactions**" means (i) the Foxtrot Acquisition, (ii) the Borrower (A) (x) obtaining up to $1,750,000,000 of gross proceeds from the issuance of senior notes and/or incurrence of new syndicated term loans on or prior to the Foxtrot Closing Date, (y) entering into this Agreement, and (z) seeking the exchange of Foot Locker's outstanding 4.000% senior notes due 2029 by the holders of such notes for notes to be issued by the Borrower and/or (B) the borrowing of senior unsecured bridge loans under the Bridge Facility, (iii) the refinancing of certain indebtedness of the Acquired Business and (iv) the payment of fees and expenses in connection with the foregoing.

"**FRB**" means the Board of Governors of the Federal Reserve System.

"**Fronting Exposure**" means, at any time there is a Defaulting Lender, with respect to any Issuing Lender, such Defaulting Lender's Pro Rata Share of the outstanding L/C Obligations with respect to Letters of Credit issued by such Issuing Lender, other than such L/C Obligations as to which such Defaulting Lender's participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof.

"**Fund**" means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business.

"**GAAP**" means generally accepted accounting principles in the United States of America, as in effect from time to time.

"**Governmental Authority**" means the government of the United States or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank).

"**Guarantee**" is defined in <u>Section 16.02</u>.

"**Guaranteed Obligations**" is defined in <u>Section 16.02</u>.

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"**Guarantors**" means after the Effective Date, any Subsidiary of the Borrower that becomes a Guarantor pursuant to <u>Section 16.01</u>; *provided* that upon the release or discharge of any Subsidiary from its Guarantee in accordance with the terms of this Agreement, such Person shall cease to be a Guarantor; *provided*, *further*, that as of the Effective Date, there shall be no Guarantors under this Agreement or any other Loan Document.

"**Hazardous Materials**" means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law.

"**Illegality Notice**" is defined in <u>Section 3.07(b)</u>.

"**Immediate Family Member**" means, with respect to any specified natural person, any other natural person that has any relationship to such specified natural person by blood, marriage or adoption that is not more remote than first cousin.

"**Increased Amount Date**" is defined in <u>Section 2.22</u>.

"**Incremental Lender**" is defined in <u>Section 2.22</u>.

"**Incremental Revolving Credit Commitment**" is defined in <u>Section 2.22</u>.

"**Incremental Revolving Credit Increase**" is defined in <u>Section 2.22</u>.

"**Indebtedness**" of a Person means, without duplication, (a) the obligations of such Person (i) for borrowed money, (ii) under or with respect to notes payable which represent extensions of credit (whether or not representing obligations for borrowed money) to such Person, (iii) constituting reimbursement obligations with respect to letters of credit and banker's acceptances issued for the account of such Person, (iv) for the deferred purchase price of property or services (other than current accounts payable arising in the ordinary course of such Person's business payable on terms customary in the trade), (v) for its Contingent Obligations, (vi) for its Net Mark-to-Market Exposure under Rate Management Transactions, (vii) for its Finance Lease Obligations and (viii) with respect to Disqualified Stock, (b) the obligations of others, whether or not assumed, secured by Liens on property of such Person or payable out of the proceeds of, or production from, property or assets now or hereafter owned or acquired by such Person and (c) any other obligation or other financial accommodation which in accordance with Agreement Accounting Principles would be shown as a liability on the consolidated balance sheet of such Person. For the avoidance of doubt, any Indebtedness that is issued at a discount to its initial principal amount shall be calculated based on the entire stated principal amount thereof without giving effect to any discounts.

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"**Indebtedness for Borrowed Money**" of a Person means, as of any date of determination, without duplication, (a) the outstanding principal amount of indebtedness for borrowed money (whether or not evidenced by bonds, debentures, notes or similar instruments and including for the avoidance of doubt any indebtedness for borrowed money that is convertible into equity or equity-like instruments but that has not been so converted), (b) obligations for the deferred purchase price of property or services to the extent shown as a liability on the balance sheet of such Person in accordance with Agreement Accounting Principles (other than trade accounts payable, intercompany charges and expenses, deferred revenue and other accrued liabilities (including deferred payments in respect of services by employees), in each case incurred in the ordinary course of business), (c) Finance Lease Obligations, (d) unpaid reimbursement obligations with respect to drawn letters of credit and banker's acceptances issued for the account of such Person (to the extent not already cash collateralized) and (e) obligations under direct or indirect guarantees in respect of, and obligations (contingent or otherwise) to purchase or otherwise acquire, or otherwise to assure a creditor against loss in respect of, indebtedness or obligations of any other Person of the kinds referred to in the foregoing clauses, in each case, actually owing on such date.

"**Indemnified Taxes**" means Taxes (other than Excluded Taxes) imposed on or with respect to any payment made by or on account of any obligation of the Borrower hereunder.

"**Indemnitee**" is defined in <u>Section 9.06(b)</u>.

"**Information**" is defined in <u>Section 9.10</u>.

"**Interest Period**" means, with respect to a SOFR Advance, a period commencing on a Borrowing Date or on the date on which a SOFR Advance is continued or an Alternate Base Rate Advance is converted into a SOFR Advance and ending on the date that is (a) one, three or six months or (b) upon consent of all Lenders, such other date thereafter, in each case as selected by the Borrower in its Borrowing Notice or Conversion/Continuation Notice; *provided that*, that (i) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period and (ii) if an Interest Period would otherwise end on a day which is not a Business Day, such Interest Period shall end on the next succeeding Business Day; *provided*, *however*, that if said next succeeding Business Day falls in a new calendar month, such Interest Period shall end on the immediately preceding Business Day. No tenor that has been removed from this definition pursuant to <u>Section 3.07(c)(iv)</u> shall be available for specification in any Borrowing Notice or Conversion/Continuation Notice.

"**ISP**" means the "International Standby Practices 1998" published by the Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance of the relevant Letter of Credit).

"**Issuing Lender**" means each of (a) Wells Fargo, (b) Bank of America and (c) any other Lender to the extent it has agreed in its sole discretion to act as an "Issuing Lender" hereunder and that has been approved in writing by the Borrower and the Administrative Agent (such approval by the Administrative Agent not to be unreasonably withheld, conditioned or delayed) as an "Issuing Lender" hereunder, in each case in its capacity as issuer of any Letter of Credit.

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"**L/C Commitment**" means, as to (i) any Issuing Lender as of the Effective Date, the obligation of such Issuing Lender to issue Letters of Credit for the account of the Borrower or one or more of its Subsidiaries from time to time in an aggregate amount equal to the amount set forth opposite the name of each such Issuing Lender on the Commitment Schedule and (ii) for any Issuing Lender becoming an Issuing Lender after the Effective Date, such amount as is separately agreed to in a written agreement between the Borrower and such Issuing Lender (which such agreement shall be promptly delivered to the Administrative Agent upon execution), in each case, as such amount may be changed after the Effective Date in a written agreement between the Borrower and such Issuing Lender (which such agreement shall be promptly delivered to the Administrative Agent upon execution); *provided* that the L/C Commitment with respect to any Person that ceases to be an Issuing Lender for any reason pursuant to the terms hereof shall be $0 (subject to the Letters of Credit of such Person remaining outstanding in accordance with the provisions hereof).

"**L/C Obligations**" means at any time, an amount equal to the sum of (a) the aggregate undrawn and unexpired amount of the then outstanding Letters of Credit *plus* (b) the aggregate amount of drawings under Letters of Credit which have not then been reimbursed pursuant to <u>Section 2.03(f)</u>. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with <u>Section 1.03</u>.

"**L/C Participants**" means, with respect to any Letter of Credit, the collective reference to all of the Lenders other than the applicable Issuing Lender.

"**L/C Sublimit**" means the lesser of (a) $75,000,000 and (b) the Aggregate Commitment.

"**Lease Adjusted Indebtedness for Borrowed Money**" means, as of any fiscal quarter end, the sum of (a) Indebtedness for Borrowed Money *plus* (b) Operating Lease Obligations, in each case actually owing on such date and to the extent appearing on the balance sheet of the Borrower determined on a consolidated basis in accordance with Agreement Accounting Principles.

"**Lender Joinder Agreement**" means a joinder agreement in a form reasonably satisfactory to the Administrative Agent delivered in connection with <u>Section 2.22</u>.

"**Lenders**" means the lending institutions listed on the signature pages of this Agreement and their respective successors and assigns, as well as any Person that becomes a "Lender" hereunder pursuant to an Assignment and Assumption or <u>Section 2.22</u>.

"**Lending Installation**" means, with respect to a Lender or the Agents, the office, branch, subsidiary or affiliate of such Lender or Agent listed on the administrative information sheets provided to the Administrative Agent in connection herewith, or otherwise selected by such Lender or Agent pursuant to <u>Section 2.16</u>.

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"**Letter of Credit Application**" means an application, in the form specified by the applicable Issuing Lender from time to time, requesting such Issuing Lender to issue, extend or increase a Letter of Credit. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, the Issuing Lender relating to any Letter of Credit, the terms and conditions of this Agreement shall control.

"**Letters of Credit**" means the collective reference to letters of credit issued pursuant to <u>Section 2.03</u>, including each Existing Letter of Credit. Notwithstanding anything to the contrary contained herein, a letter of credit issued by any Issuing Lender (other than Wells Fargo at any time it is also acting as Administrative Agent) pursuant to <u>Section 2.03</u> shall not be a "Letter of Credit" for purposes of the Loan Documents until such time as the Administrative Agent has been notified in writing of the issuance thereof by the applicable Issuing Lender. All Letters of Credit shall be denominated in Dollars.

"**Lien**" means any lien (statutory or other), mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including, without limitation, the interest of a vendor or lessor under any conditional sale, Finance Lease or other title retention agreement).

"**Loan**" means an extension of credit by a Lender to the Borrower in the form of a Revolving Loan.

"**Loan Documents**" means this Agreement, each Letter of Credit Application, any joinder document pursuant to which a Subsidiary of the Borrower joins this Agreement as a Guarantor, each Lender Joinder Agreement, the Fee Letters, any Notes issued pursuant to <u>Section 2.13</u> (if requested) and each other document jointly designated as a "Loan Document" in writing by the Borrower and the Administrative Agent, as the same may be amended, restated or otherwise modified and in effect from time to time.

"**Major Subsidiary**" means any Subsidiary of the Borrower which had (as of the end of the most recently completed fiscal quarter in respect of which the Borrower has delivered quarterly financial statements pursuant to <u>Section 6.01(a)</u> or <u>(b)</u>, as applicable) total assets (after intercompany eliminations, and less goodwill and other intangible assets and total current liabilities), all determined in conformity with Agreement Accounting Principles, exceeding 10% of the total assets, less goodwill and other intangible assets, less total current liabilities of the Borrower and its Subsidiaries, as shown on or reflected on the Borrower's balance sheet as at the end of such fiscal quarter.

"**Material Acquisition**" means any Acquisition the total consideration for which is equal to or greater than $500,000,000.

"**Material Adverse Effect**" means a material adverse effect on (a) the financial condition, results of operations, business or Property of the Borrower and its Subsidiaries taken as a whole or (b) the rights of or remedies available to the Lenders or the Administrative Agent against the Borrower under the Loan Documents, taken as a whole.

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"**Minimum Collateral Amount**" means, at any time, (a) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 100% of the Fronting Exposure of the Issuing Lenders with respect to Letters of Credit issued and outstanding at such time and (b) otherwise, an amount reasonably determined by the Administrative Agent and the Issuing Lenders in their sole discretion.

"**Moody's**" means Moody's Investors Service, Inc. and any successor thereto.

"**Multiemployer Plan**" means a multiemployer plan as defined in Section 3(37) of ERISA that is subject to Title IV of ERISA and to which the Borrower, any Subsidiary or any member of the Controlled Group makes contributions, is obligated to make contributions or has any liability.

"**Net Mark-to-Market Exposure**" of a Person means, as of any date of determination, the excess (if any) of all unrealized losses over all unrealized profits of such Person arising from Rate Management Transactions. "**Unrealized losses**" means the fair market value of the cost to such Person of replacing such Rate Management Transaction as of the date of determination (assuming the Rate Management Transaction were to be terminated as of that date), and "unrealized profits" means the fair market value of the gain to such Person of replacing such Rate Management Transaction as of the date of determination (assuming such Rate Management Transaction were to be terminated as of that date).

"**Non-Defaulting Lender**" means, at any time, a Lender that is not a Defaulting Lender.

"**Note**" is defined in <u>Section 2.13(e)</u>.

"**Obligations**" means all Loans, L/C Obligations, debts, liabilities, obligations, covenants and duties owing by the Borrower to any of the Agents, any Lender, any Issuing Lender, the Arrangers, any affiliate of the Agents or any Lender, any Issuing Lender, the Arrangers, or any indemnitee under the provisions of <u>Section 9.06</u> or any other provisions of the Loan Documents, in each case of any kind or nature, present or future, arising under this Agreement or any other Loan Document, whether or not evidenced by any note, guaranty or other instrument, whether or not for the payment of money, whether arising by reason of an extension of credit, loan, foreign exchange risk, guaranty, indemnification, or in any other manner, whether direct or indirect (including those acquired by assignment), absolute or contingent, due or to become due, now existing or hereafter arising and however acquired (including, for the avoidance of doubt, interest accruing after the maturity of the Loans and interest accruing after the filing of any petition in bankruptcy, or the commencement of any proceeding under any Debtor Relief Law, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding). The term includes, without limitation, all interest, charges, expenses, fees, attorneys' fees and disbursements, paralegals' fees, and any other sum chargeable to the Borrower under this Agreement or any other Loan Document.

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"**OFAC**" means the Office of Foreign Assets Control of the U.S. Department of the Treasury.

"**Operating Lease**" of a Person means any lease of (or other arrangement conveying the right to use) Property, or a combination thereof, but excluding, for the avoidance of doubt, any Finance Lease.

"**Operating Lease Obligations**" of a Person means the amount of the obligations of such Person under Operating Leases which would be shown as a liability on a balance sheet of such Person under Agreement Accounting Principles.

"**Other Connection Taxes**" means, with respect to the Administrative Agent or any Lender, Taxes imposed as a result of a present or former connection between the Administrative Agent or such Lender and the jurisdiction imposing such Tax (other than connections arising from the Administrative Agent's or such Lender's having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).

"**Other Taxes**" means all present or future stamp, documentary, intangible, recording or filing taxes or any similar taxes, charges or levies arising from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement or any other Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to <u>Section 2.18</u>).

"**Outstanding Credit Exposure**" means, as to any Lender at any time, (a) the aggregate principal amount of its outstanding Revolving Loans at such time and (b) such Lender's Pro Rata Share of the aggregate L/C Obligations at such time.

"**Overnight Rate**" means, for any day, the Federal Funds Rate.

"**Participant**" is defined in <u>Section 12.01(d)</u>.

"**Participant Register**" is defined in <u>Section 12.01(d)</u>.

"**Payment Date**" means the last Business Day of each March, June, September and December and the Facility Termination Date.

"**Payment Recipient**" is defined in <u>Section 10.11(a)</u>.

"**PBGC**" means the Pension Benefit Guaranty Corporation, or any successor thereto.

"**Permitted Holders**" means (a) any of Edward W. Stack and his Affiliated Parties and (b) any "group" within the meaning of Section 13(d) of the Securities Exchange Act of 1934 consisting solely of persons described in <u>clause (a)</u> above or of which any of the Persons described in <u>clause (a)</u> above are members, *provided* that without giving effect to the existence of such group or any other group, any of the Persons described in <u>clause (a)</u> above, collectively, beneficially own Voting Stock of the Borrower representing 50% or more of the total voting power of the Voting Stock of the Borrower then held by such group.

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"**Permitted Refinancing**" means, with respect to any Specified Indebtedness for Borrowed Money, any Specified Indebtedness for Borrowed Money issued in exchange for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund (collectively, to "**Refinance**"), the Specified Indebtedness for Borrowed Money being Refinanced (or previous refinancings thereof constituting a Permitted Refinancing); *provided* that the principal amount thereof does not exceed the sum of (a) the principal amount of the Specified Indebtedness for Borrowed Money being Refinanced, *plus* (b) prepayment premiums (including tender premiums) and penalties, accrued interest, defeasance costs, and fees, costs and expenses incurred in connection therewith.

"**Permitted Sale Lease-Back Transaction**" shall mean any sale and lease-back transaction of fixed or capital assets acquired or built after the Effective Date.

"**Person**" means any natural person, corporation, firm, joint venture, partnership, limited liability company, association, enterprise, trust or other entity or organization, or any government or political subdivision or any agency, department or instrumentality thereof.

"**Plan**" means an employee benefit plan other than a Multiemployer Plan which is covered by Title IV of ERISA or subject to the minimum funding standards under Section 412 of the Code as to which the Borrower, any Subsidiary or any member of the Controlled Group may have liability.

"**Platform**" is defined in <u>Section 6.01</u>.

"**Pricing Schedule**" means the Schedule identifying the Applicable Margin attached hereto identified as such.

"**Prime Rate**" means the commercial lending rate of interest in effect for such day as publicly announced from time to time by Wells Fargo as its "prime rate." The "prime rate" is a rate set by Wells Fargo based upon various factors including Wells Fargo's costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such rate announced by Wells Fargo shall take effect at the opening of business on the day specified in the public announcement of such change.

"**Pro Rata Share**" means, with respect to a Lender, a portion equal to a fraction the numerator of which is such Lender's Commitment at such time (in each case, as adjusted from time to time in accordance with the provisions of this Agreement) and the denominator of which is the Aggregate Commitment at such time, or, if the Aggregate Commitment has been terminated, a portion equal to a fraction the numerator of which is such Lender's Outstanding Credit Exposure at such time and the denominator of which is the sum of the Aggregate Outstanding Credit Exposure at such time.

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"**Property**" of a Person means any and all property, whether real, personal, tangible, intangible, or mixed, of such Person, or other assets owned, leased or operated by such Person.

"**Protected Party**" is defined in <u>Section 9.06(d)</u>.

"**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 Debt Rating**" means the public credit rating for the Borrower's senior unsecured, long-term debt without third-party credit enhancement by S&P and Moody's.

"**Public Lender**" is defined in <u>Section 6.01</u>.

"**Rate Management Transaction**" (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a "**Master Agreement**"), including any such obligations or liabilities under any Master Agreement. For the avoidance of doubt, the following shall not be deemed a "Rate Management Transaction": (i) any phantom stock or similar plan (including any stock option plan) providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrower or its Subsidiaries, (ii) any stock option or warrant agreement for the purchase of equity interests of the Borrower, (iii) the purchase of equity interests or Indebtedness (including securities convertible into equity interests) of the Borrower pursuant to delayed delivery contracts or (iv) any of the foregoing to the extent that it constitutes a derivative embedded in a convertible security issued by the Borrower.

"**Register**" is defined in <u>Section 12.01(c)</u>.

"**Regulation D**" means Regulation D of the Board of Governors of the Federal Reserve System as from time to time in effect and any successor thereto or other regulation or official interpretation of said Board of Governors.

"**Regulation U**" means Regulation U of the Board of Governors of the Federal Reserve System as from time to time in effect and any successor or other regulation or official interpretation of said Board of Governors.

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"**Regulation X**" means Regulation X of the Board of Governors of the Federal Reserve System as from time to time in effect and any successor or other regulation or official interpretation of said Board of Governors.

"**Reimbursement Obligation**" means the obligation of the Borrower to reimburse any Issuing Lender pursuant to <u>Section 2.03(f)</u> for amounts drawn under Letters of Credit issued by such Issuing Lender.

"**Related Parties**" means, with respect to any Person, such Person's Affiliates, controlling Persons, successors and assigns, and the directors, officers, employees, agents and advisors of the foregoing.

"**Relevant Governmental Body**" means the FRB or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the FRB or the Federal Reserve Bank of New York, or any successor thereto.

"**Reportable Event**" means a reportable event, as defined in Section 4043 of ERISA and the regulations issued under such Section, with respect to a Plan, excluding, however, such events as to which the PBGC has by regulation or otherwise waived the requirement of Section 4043(a) of ERISA that it be notified within thirty (30) days of the occurrence of such event; *provided*, *however*, that a failure to meet the minimum funding standard of Section 412 of the Code or of Section 302 of ERISA shall be a Reportable Event regardless of the issuance of any such waiver of the notice requirement in accordance with either Section 4043(a) of ERISA or Section 412(c) of the Code.

"**Request for Credit Extension**" means (a) with respect to a Revolving Borrowing, a Borrowing Notice and (b) with respect to the issuance of a Letter of Credit, a Letter of Credit Application.

"**Required Lenders**" means, on any date of determination, Lenders in the aggregate having greater than fifty percent (50%) of the Aggregate Commitment on such date or, if the Aggregate Commitment has been terminated, Lenders in the aggregate holding greater than fifty percent (50%) of the Aggregate Outstanding Credit Exposure on such date; *provided* that the Commitment of, and the portion of the Aggregate Outstanding Credit Exposure held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders.

"**Requisite Amount**" means $300,000,000.

"**Resignation Effective Date**" is defined in <u>Section 10.06(a)</u>.

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

"**Revolving Borrowing**" means a borrowing hereunder (a) consisting of the aggregate amount of several Revolving Loans made by the Lenders on the same Borrowing Date or (b) converted or continued by the Lenders on the same date of conversion or continuation, consisting, in either case, of the aggregate amount of the several Revolving Loans of the same Type and in the same currency and, in the case of SOFR Loans, for the same Interest Period.

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"**Revolving Credit Facility**" means the revolving credit facility established pursuant to <u>Article 2</u> (including any increase in such revolving credit facility established pursuant to <u>Section 2.22</u>).

"**Revolving Loan**" means, with respect to a Lender, such Lender's loan made pursuant to <u>Section 2.01(a)</u> (and any conversion or continuation thereof pursuant to <u>Section 2.09</u>).

"**S&P**" means S&P Global Ratings, a division of S&P Global, Inc. (or any successor thereto).

"**Same Day Funds**" means immediately available funds.

"**Sanction(s)**" means any economic or financial sanctions or trade embargoes imposed, administered or enforced by the United States Government (including, without limitation, OFAC or the U.S. Department of State), the United Nations Security Council, the European Union or His Majesty's Treasury.

"**Schedule**" refers to a specific schedule to this Agreement, unless another document is specifically referenced.

"**SEC**" means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal functions.

"**Section**" means a numbered Section of this Agreement, unless another document is specifically referenced.

"**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 Advance**" or "**SOFR Loan**" means an Advance or Loan which, except as otherwise provided in <u>Section 2.11</u>, bears interest based on Term SOFR. SOFR Advances and SOFR Loans shall be denominated in Dollars.

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"**Solvent**" means, as of the Foxtrot Closing Date, immediately after giving effect to the consummation of the Foxtrot Transactions, on and as of such date (i) the fair value of the assets of the Borrower and its Subsidiaries on a consolidated basis, at a fair valuation, will exceed the debts and liabilities, direct, subordinated, contingent or otherwise, of the Borrower and its Subsidiaries on a consolidated basis; (ii) the present fair saleable value of the property of the Borrower and its Subsidiaries on a consolidated basis will be greater than the amount that will be required to pay the probable liability of the Borrower and its 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 Borrower and its 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; (iv) the Borrower and its 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 conducted as of the Foxtrot Closing Date and are proposed to be conducted following the Foxtrot Closing Date and (v) the Borrower does not intend to, and the Borrower does not believe that it or any of its Subsidiaries will, incur debts beyond its ability to pay such debts as they mature, taking into account the timing and amounts of cash to be received by it or any such Subsidiary and the timing and amounts of cash to be payable on or in respect of its debts or the debts of any such Subsidiary.

"**Specified Indebtedness for Borrowed Money**" means (a) Indebtedness for Borrowed Money described under <u>clause (a)</u> of the definition of Indebtedness for Borrowed Money of any Subsidiary that is not a Guarantor and (b) guarantees by any Subsidiary that is not a Guarantor of any Indebtedness for Borrowed Money described under <u>clause (a)</u> of the definition thereof.

"**Specified Representations**" means the representations and warranties of the Borrower (to the extent relating to the Borrower) set forth in <u>Sections 5.01(a)</u>, <u>5.02</u> (in each case as they relate to the entering into and performance of the Loan Documents by the Borrower), <u>5.03(a)(ii)</u> and <u>(iii)</u> (with respect to <u>sub-clause (iii)</u> thereof, limited to debt instruments evidencing indebtedness for borrowed money of the Borrower of $300,000,000 or more in principal amount outstanding or committed, in the aggregate, as of the Foxtrot Closing Date, on the Foxtrot Closing Date after giving effect to the Foxtrot Transactions and any repayment of Indebtedness in connection therewith, using the proceeds thereof (but without giving effect to any materiality or "Material Adverse Effect" qualifier in such representation), <u>5.09</u>, <u>5.10</u>, <u>5.14</u> and <u>5.15</u>.

"**Stated Maturity Date**" is defined in the definition of "Facility Termination Date."

"**Subject Related Parties**" means, with respect to any Person, such Person's (a) controlling Persons, controlled Affiliates or subsidiaries, (b) directors, officers or employees of such Person or of any of its subsidiaries, controlled Affiliates or controlling Persons or (c) agents and advisors of such Person or of any of its subsidiaries, controlled Affiliates or controlling Persons.

"**Subsidiary**" of a Person means (a) any corporation more than fifty percent (50%) of the outstanding securities having ordinary voting power of which shall at the time be owned or controlled, directly or indirectly, by such Person or by one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries, or (b) any partnership, limited liability company, association, joint venture or similar business organization more than fifty percent (50%) of the ownership interests having ordinary voting power of which shall at the time be so owned or controlled. Unless otherwise expressly provided, all references herein to a "Subsidiary" shall mean a Subsidiary of the Borrower.

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"**Substantial Portion**" means, on any date of determination, with respect to the Property of the Borrower and its Subsidiaries, Property which represents more than fifteen percent (15%) of the Consolidated Assets of the Borrower and its Subsidiaries on such date.

"**Taxes**" means all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.

"**Term SOFR**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp; for any calculation with respect to a SOFR Loan, the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period on the day (such day, the "**Periodic Term SOFR Determination Day**") that is two (2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator; *provided*, *however*, that if as of 5:00 p.m. (Eastern 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; for any calculation with respect to an Alternate Base Rate Loan on any day, the Term SOFR Reference Rate for a tenor of one month on the day (such day, the "**Base Rate Term SOFR Determination Day**") that is two (2) U.S. Government Securities Business Days prior to such day, as such rate is published by the Term SOFR Administrator; *provided*, *however*, that if as of 5:00 p.m. (Eastern time) on any Base Rate Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Base Rate SOFR Determination Day.

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If Term SOFR shall be less than the Floor, such rate shall be deemed to be the Floor for all purposes of this Agreement

"**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.

"**Type**" means, with respect to any Advance, its nature as an Alternate Base Rate Advance or a SOFR Advance.

"**UK Financial Institution**" means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

"**UK Resolution Authority**" means the Bank of England or any other public administrative authority having responsibility for the resolution of any UK Financial Institution.

"**Unadjusted Benchmark Replacement**" means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.

"**Unfunded Liabilities**" means the amount (if any) by which the present value of all vested and unvested accrued benefits under all Plans exceeds the fair market value of all such Plan assets allocable to such benefits, all determined as of the then most recent valuation date for such Plans using PBGC actuarial assumptions for single-employer plan terminations.

"**Unmatured Default**" means an event which but for the lapse of time or the giving of notice, or both, would constitute a Default.

"**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; *provided* that for purposes of notice requirements in <u>Sections 2.07</u>, <u>2.08</u> and <u>2.09</u>, in each case, such day is also a Business Day.

"**U.S. Patriot Act**" means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), as amended.

"**U.S. Tax Compliance Certificate**" is defined in <u>Section 3.05(e)(ii)(B)(3)</u>.

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"**Wells Fargo**" means Wells Fargo Bank, National Association, in its individual capacity, and its successors.

"**Wells Fargo Fee Letter**" means the Wells Fargo Fee Letter, dated as of June 6, 2025, between the Borrower, the Administrative Agent and Wells Fargo Securities, LLC.<br>

"**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.

The foregoing definitions shall be equally applicable to both the singular and plural forms of the defined terms.

Any accounting terms used in this Agreement which are not specifically defined herein shall have the meanings customarily given them in accordance with Agreement Accounting Principles.

**Section 1.02**&nbsp;&nbsp;&nbsp;&nbsp; [*Reserved*].

**Section 1.03**&nbsp;&nbsp;&nbsp;&nbsp; *Letter of Credit Amounts*. Unless otherwise specified, all references herein to the amount of a Letter of Credit at any time shall be deemed to mean the maximum face amount of such Letter of Credit after giving effect to all automatic increases, if any, thereof contemplated by such Letter of Credit or the Letter of Credit Application therefor (at the time specified therefor in such applicable Letter of Credit or Letter of Credit Application and as such amount may be reduced by (a) any permanent reduction of such Letter of Credit or (b) any amount which is drawn, reimbursed and no longer available under such Letter of Credit).

**Section 1.04**&nbsp;&nbsp;&nbsp;&nbsp; *Currency, Basket Calculations.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp; Subject to <u>clauses (b)</u> and <u>(c)</u> below, and except for the purposes of financial statements delivered by the Borrower hereunder, the amount in a currency other than Dollars will be converted to Dollars in a manner consistent with that used in calculating Consolidated Net Income in the most recent annual financial statements of the Borrower delivered pursuant to <u>Section 6.01(a)</u> (as reasonably determined by the Borrower).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For purposes of determining compliance with <u>Section 6.10</u> and <u>Section 6.11</u>, no Unmatured Default or Default shall be deemed to have occurred solely as a result of changes in exchange rates occurring after the time any Specified Indebtedness for Borrowed Money or Lien, as applicable, is created or incurred.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp; For purposes of determining compliance with <u>Section 6.12</u>, the amount of Indebtedness for Borrowed Money denominated in any currency other than Dollars will be converted into Dollars based on the relevant exchange rate(s) in effect as of the last day of the fiscal quarter of the Borrower for which the Consolidated Leverage Ratio is calculated (as reasonably determined by the Borrower).

**Section 1.05**&nbsp;&nbsp;&nbsp;&nbsp; [*Reserved*]

**Section 1.06**&nbsp;&nbsp;&nbsp;&nbsp; [*Reserved*]

**Section 1.07**&nbsp;&nbsp;&nbsp;&nbsp; *Rates.* The Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, (a) administration of, submission of, calculation of or any other matter related to the Term SOFR Reference Rate or Term SOFR, or any component definition thereof or rates referred to in the definition thereof, or with respect to 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), as it may or may not be adjusted pursuant to <u>Section 3.07(c)</u>, will be similar to, or produce the same value or economic equivalence of, or have the same volume or liquidity as, the Term SOFR Reference Rate, Term SOFR or any other Benchmark prior to its discontinuance or unavailability, or (b) the effect, implementation or composition of any Conforming Changes. The Administrative Agent and its Affiliates or other related entities may engage in transactions that affect the calculation of the Term SOFR Reference Rate, Term SOFR, any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto and such transactions may be adverse to the Borrower. The Administrative Agent may select information sources or services in its reasonable discretion to ascertain the Term SOFR Reference Rate or Term SOFR, or any other Benchmark, any component definition thereof or rates referred to in the definition thereof, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service.

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ARTICLE 2

The Credits

**Section 2.01**&nbsp;&nbsp;&nbsp;&nbsp; *Description of Facility; Commitment.*

** 

<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp; *Revolving Loans*. From and including the Effective Date and prior to the Facility Termination Date, upon the satisfaction of the conditions precedent set forth in <u>Section 4.02</u>, each Lender severally and not jointly agrees, on the terms and conditions set forth in this Agreement, to make Revolving Loans to the Borrower in Dollars from time to time in amounts not to exceed in the aggregate at any one time outstanding its Pro Rata Share of the Aggregate Commitment; *provided* that after giving effect to such Revolving Loan, (i) the Aggregate Outstanding Credit Exposure shall not exceed the Aggregate Commitment at such time, (ii) the Outstanding Credit Exposure of such Lender shall not exceed such Lender's Commitment at such time and (iii) in the case of the Certain Funds Advance, the Certain Funds Advance shall not exceed the Certain Funds Sublimit. Subject to the terms of this Agreement, the Borrower may borrow, repay and re-borrow Revolving Loans at any time prior to the Facility Termination Date. The Commitments to lend hereunder shall expire automatically on the Facility Termination Date. Each Revolving Borrowing made under this <u>Section 2.01(a)</u> shall consist of Revolving Loans made from the several Lenders in accordance with their respective Pro Rata Shares of the Aggregate Commitment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Defaulting Lenders*. Notwithstanding anything to the contrary contained in this Agreement, this <u>Section 2.01</u> shall be subject to the terms and conditions of <u>Section 2.21</u>.

**Section 2.02** *Facility Termination Date*. Any outstanding Loans and all other unpaid Obligations (other than contingent indemnity obligations) shall be paid in full by the Borrower on the Facility Termination Date. Notwithstanding the termination of this Agreement on the Facility Termination Date, until all of the Obligations (other than contingent indemnity obligations) shall have been fully paid and satisfied and all financing arrangements among the Borrower and the Lenders hereunder and under the other Loan Documents shall have been terminated, all of the rights and remedies under this Agreement and the other Loan Documents shall survive.

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**Section 2.03**&nbsp;&nbsp;&nbsp;&nbsp; *Letters of Credit.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Availability*. Subject to the terms and conditions hereof, each Issuing Lender, in reliance on the agreements of the Lenders set forth in <u>Section 2.03(e)</u>, agrees to issue standby Letters of Credit in an aggregate amount not to exceed its L/C Commitment for the account of the Borrower or, subject to <u>Section 2.03(k)</u>, any Subsidiary thereof. Letters of Credit may be issued on any Business Day from the Effective Date to but not including five (5) Business Days prior to the Facility Termination Date; *provided* that no Issuing Lender shall issue any Letter of Credit if, after giving effect to such issuance, (a) the Aggregate Outstanding Credit Exposure would exceed the Aggregate Commitment, (b) the L/C Obligations would exceed the L/C Sublimit or (c) the L/C Obligations attributable to Letters of Credit issued by such Issuing Lender would exceed such Issuing Lender's L/C Commitment. Each Letter of Credit shall (i) be denominated in Dollars in a minimum amount of $100,000 (or such lesser amount as agreed to by the applicable Issuing Lender), (ii) expire on a date no more than twelve (12) months after the date of issuance or last renewal of such Letter of Credit (subject to automatic renewal for additional one (1) year periods pursuant to the terms of the Letter of Credit Application or other documentation reasonably acceptable to the applicable Issuing Lender), which date shall be no later than the fifth (5th) Business Day prior to the Facility Termination Date; *provided*, *further*, that a Letter of Credit may, upon the request of the Borrower and the consent of the applicable Issuing Lender, be issued or renewed for a period beyond the date that is five (5) Business Days prior to the Facility Termination Date (it being understood that the Lenders shall automatically be released from their participation obligations with respect to any such Letter of Credit from and after the Facility Termination Date), and (iii) unless otherwise agreed by the applicable Issuing Lender and the Borrower, be subject to ISP 98 and, to the extent not inconsistent therewith, the laws of the State of New York. No Issuing Lender shall at any time be obligated to issue any Letter of Credit hereunder if (A) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain such Issuing Lender from issuing such Letter of Credit, or any law applicable to such Issuing Lender or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over such Issuing Lender shall prohibit, or request that such Issuing Lender refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon such Issuing Lender with respect to letters of credit generally or such Letter of Credit in particular any restriction or reserve or capital requirement (for which such Issuing Lender is not otherwise compensated) not in effect on the Effective Date, or any unreimbursed loss, cost or expense that was not applicable, in effect or known to such Issuing Lender as of the Effective Date and that such Issuing Lender in good faith deems material to it, (B) the issuance of the Letter of Credit would violate one or more policies of such Issuing Lender applicable to letters of credit generally or (C) the conditions set forth in <u>Section 4.02</u> are not satisfied. References herein to "issue" and derivations thereof with respect to Letters of Credit shall also include extensions, increases or modifications of any outstanding Letters of Credit, unless the context otherwise requires.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; *Defaulting Lenders*. Notwithstanding anything to the contrary contained in this Agreement, this <u>Section 2.03</u> shall be subject to the terms and conditions of <u>Section 2.20</u> and <u>Section 2.21</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Procedures for Issuance and Disbursement of Letters of Credit*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Borrower may from time to time request that any Issuing Lender issue a Letter of Credit by delivering to such Issuing Lender at its applicable office (with a copy to the Administrative Agent at the Administrative Agent's Office) an appropriately completed Letter of Credit Application therefor and such other certificates, documents and other papers and information as such Issuing Lender or the Administrative Agent may reasonably request. Upon receipt of any Letter of Credit Application and such other certificates, documents and other papers and information as such Issuing Lender or the Administrative Agent may reasonably request, the applicable Issuing Lender shall process such Letter of Credit Application in accordance with its customary procedures and shall, subject to this <u>Section 2.03</u> and <u>Section 4.02</u>, promptly issue the Letter of Credit requested thereby (but in no event shall such Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days after its receipt of the Letter of Credit Application therefor and such other certificates, documents and other papers and information as such Issuing Lender or the Administrative Agent may reasonably request) by issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed by such Issuing Lender and the Borrower. The applicable Issuing Lender shall promptly furnish to the Borrower and the Administrative Agent a copy of such Letter of Credit, and the Administrative Agent shall promptly notify each Lender of the issuance and, upon request by any Lender, furnish to such Lender a copy of such Letter of Credit and the amount of such Lender's participation therein.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Issuing Lender for any Letter of Credit shall, within the time allowed by applicable laws or the specific terms of the Letter of Credit following its receipt thereof, examine all documents purporting to represent a demand for payment under such Letter of Credit. Such Issuing Lender shall promptly after such examination notify the Administrative Agent and the Borrower in writing of such demand for payment if such Issuing Lender has or will honor such demand for payment thereunder; *provided* that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse such Issuing Lender and the L/C Participants with respect to such payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; *Commissions and Other 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;(i) <u>Letter of Credit Fee</u>. Subject to <u>Section 2.21</u>, the Borrower shall pay to the Administrative Agent, for the account of the applicable Issuing Lender and the L/C Participants, a letter of credit commission with respect to each Letter of Credit in the amount equal to the daily amount available to be drawn under such Letter of Credit *multiplied by* the Applicable Margin with respect to Revolving Loans that are SOFR Loans (determined, in each case, on a per annum basis). Such commission shall be payable quarterly in arrears on each Payment Date and after the Facility Termination Date on demand of the Administrative Agent. The Administrative Agent shall, promptly following its receipt thereof, distribute to the applicable Issuing Lender and the L/C Participants all commissions received pursuant to this <u>Section 2.03</u> in accordance with their respective Pro Rata Share.

&nbsp;&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>Issuance Fee</u>. In addition to the foregoing commission, the Borrower shall pay directly to each Issuing Lender, for its own account, an issuance fee with respect to each Letter of Credit issued by such Issuing Lender in an amount agreed by such Issuing Lender and the Borrower (it being understood and agreed that no Issuing Lender shall be required to issue a Letter of Credit until such time as such Issuing Lender and the Borrower shall have agreed to such amount). Such issuance fee shall be payable quarterly in arrears on each Payment Date, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Facility Termination Date and thereafter on demand of the applicable Issuing Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) &nbsp;&nbsp;&nbsp;&nbsp; <u>Other Fees, Costs, Charges and Expenses</u>. In addition to the foregoing fees and commissions, the Borrower shall pay or reimburse each Issuing Lender for such normal and customary fees, costs, charges and expenses as are incurred or charged by such Issuing Lender in issuing, effecting payment under, amending or otherwise administering any Letter of Credit issued by it.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp; *L/C Participations*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp; Each Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Participant, and, to induce each Issuing Lender to issue Letters of Credit hereunder, each L/C Participant irrevocably agrees to accept and purchase and hereby accepts and purchases from each Issuing Lender, on the terms and conditions hereinafter stated, for such L/C Participant's own account and risk an undivided interest equal to such L/C Participant's Pro Rata Share in each Issuing Lender's obligations and rights under and in respect of each Letter of Credit issued by it hereunder and the amount of each draft paid by such Issuing Lender thereunder. Each L/C Participant unconditionally and irrevocably agrees with each Issuing Lender that, if a draft is paid under any Letter of Credit issued by such Issuing Lender for which such Issuing Lender is not reimbursed in full by the Borrower through a Revolving Loan or otherwise in accordance with the terms of this Agreement, such L/C Participant shall pay to such Issuing Lender upon demand at such Issuing Lender's address for notices specified herein the amount equal to such L/C Participant's Pro Rata Share of the amount of such draft, or any part thereof, which is not so reimbursed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Upon becoming aware of any amount required to be paid by any L/C Participant to any Issuing Lender pursuant to <u>Section 2.03(e)(i)</u> in respect of any unreimbursed portion of any payment made by such Issuing Lender under any Letter of Credit issued by it, such Issuing Lender shall notify the Administrative Agent of such unreimbursed amount, and the Administrative Agent shall notify each L/C Participant (with a copy to the applicable Issuing Lender) of the amount and due date of such required payment and such L/C Participant shall pay to the Administrative Agent (which, in turn, shall pay such Issuing Lender) the amount specified on the applicable due date. If any such amount is paid to such Issuing Lender after the date such payment is due, such L/C Participant shall pay to such Issuing Lender on demand, in addition to such amount, the product of (i) such amount *times* (ii) the Overnight Rate as determined by the Administrative Agent during the period from and including the date such payment is due to the date on which such payment is immediately available to such Issuing Lender *times* (iii) a fraction the numerator of which is the number of days that elapse during such period and the denominator of which is 360. A certificate of such Issuing Lender with respect to any amounts owing under this <u>Section 2.03</u> shall be conclusive in the absence of manifest error. With respect to payment to such Issuing Lender of the unreimbursed amounts described in this <u>Section 2.03</u>, if the L/C Participants receive notice that any such payment is due (A) prior to 1:00 p.m. (New York time) on any Business Day, such payment shall be due that Business Day, and (B) after 1:00 p.m. (New York time) on any Business Day, such payment shall be due on the following Business Day.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp; Whenever, at any time after any Issuing Lender has made payment under any Letter of Credit issued by it and has received from any L/C Participant its Pro Rata Share of such payment in accordance with this <u>Section 2.03</u>, such Issuing Lender receives any payment related to such Letter of Credit (whether directly from the Borrower or otherwise), or any payment of interest on account thereof, such Issuing Lender will distribute to such L/C Participant its <u>pro</u> <u>rata</u> share thereof; *provided* that, in the event that any such payment received by such Issuing Lender shall be required to be returned by such Issuing Lender, such L/C Participant shall return to such Issuing Lender the portion thereof previously distributed by such Issuing Lender to it.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;&nbsp; Each L/C Participant's obligation to make the payments referred to in <u>Section 2.03(e)(ii)</u> and to purchase participating interests pursuant to <u>Section 2.03(d)(i)</u> shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any setoff, counterclaim, recoupment, defense or other right that such Lender or the Borrower may have against the Issuing Lender, the Borrower or any other Person for any reason whatsoever, (ii) the occurrence or continuance of an Unmatured Default or Default or the failure to satisfy any of the other conditions specified in <u>Section 4.02</u>, (iii) any adverse change in the condition (financial or otherwise) of the Borrower, (iv) any breach of this Agreement or any other Loan Document by the Borrower or any other Lender or (v) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Reimbursement Obligation of the Borrower*. In the event of any drawing under any Letter of Credit, the Borrower agrees to reimburse (either with the proceeds of a Revolving Loan as provided for in this <u>Section 2.03</u> or with funds from other sources), in Same Day Funds, the applicable Issuing Lender on the first Business Day after the date on which such Issuing Lender notifies the Borrower of the date and amount of a draft paid by it under any Letter of Credit for the amount of (i) such draft so paid and (ii) any amounts referred to in <u>Section 2.03(d)(iii)</u> incurred by such Issuing Lender in connection with such payment. Unless the Borrower shall promptly (and in any event not later than 11:00 a.m. (New York time) on the applicable repayment date) notify such Issuing Lender (and the Administrative Agent) that the Borrower intends to reimburse such Issuing Lender for such drawing from other sources or funds, the Borrower shall be deemed to have timely given a Borrowing Notice to the Administrative Agent requesting that the Lenders make a Revolving Loan as an Alternate Base Rate Loan on the applicable repayment date in the amount of (i) such draft so paid and (ii) any amounts referred to in <u>Section 2.03(d)(iii)</u> incurred by such Issuing Lender in connection with such payment, and the Lenders shall make a Revolving Loan as an Alternate Base Rate Loan in such amount on such first Business Day after the date of the notice from the applicable Issuing Lender (through the Administrative Agent) to the Borrower referred to in the first sentence of this Section 2.03(f), the proceeds of which shall be applied to reimburse such Issuing Lender for the amount of the related drawing and such fees and expenses. Each Lender acknowledges and agrees that its obligation to fund a Revolving Loan in accordance with this <u>Section 2.03</u> to reimburse such Issuing Lender for any draft paid under a Letter of Credit issued by it is absolute and unconditional and shall not be affected by any circumstance whatsoever, including, without limitation, non-satisfaction of the conditions set forth in this <u>Section 2.03</u> or <u>Section 4.02</u>. If the Borrower has elected to pay the amount of such drawing with funds from other sources and shall fail to reimburse such Issuing Lender as provided above, the unreimbursed amount of such drawing shall bear interest at the rate which would be payable on any outstanding Alternate Base Rate Loans which were then overdue from the date such amounts become payable (whether at stated maturity, by acceleration or otherwise) until payment in full.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp; *Obligations Absolute*. The Borrower's obligations under this <u>Section 2.03</u> (including, without limitation, the Reimbursement Obligation) shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any Letter of Credit or this Agreement, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the Issuing Lender under a Letter of Credit against presentation of a draft or other document that does not comply with the terms of such Letter of Credit, or (iv) any setoff, counterclaim or defense to payment which the Borrower may have or have had against the applicable Issuing Lender or any beneficiary of a Letter of Credit. No Issuing Lender shall be liable for any error, omission, interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit issued by it, except for errors or omissions, interruptions or delays caused by such Issuing Lender's gross negligence or willful misconduct of the terms of this Agreement, as determined by a court of competent jurisdiction by final nonappealable judgment. The Borrower agrees that any action taken or omitted by any Issuing Lender under or in connection with any Letter of Credit issued by it or the related drafts or documents, if done in the absence of gross negligence or willful misconduct of its obligations under this Agreement, or such Issuing Lender's willful failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit, in the case of any such willful failure to pay, as determined by a court of competent jurisdiction by a final and non-appealable judgment, shall be binding on the Borrower and shall not result in any liability of such Issuing Lender or any L/C Participant to the Borrower. The responsibility of any Issuing Lender to the Borrower in connection with any draft presented for payment under any Letter of Credit issued to it shall, in addition to any payment obligation expressly provided for in such Letter of Credit, be limited to determining that the documents (including each draft) delivered under such Letter of Credit in connection with such presentment substantially conform to the requirements under such Letter of Credit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp; *Effect of Letter of Credit Application*. To the extent that any provision of any Letter of Credit Application related to any Letter of Credit is inconsistent with the provisions of this <u>Section 2.03</u>, the provisions of this <u>Section 2.03</u> shall apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Resignation of Issuing Lenders*. (i) Any Lender may at any time resign from its role as an Issuing Lender hereunder upon not less than thirty (30) days prior notice to the Borrower and the Administrative Agent (or such shorter period of time as may be acceptable to the Borrower and the Administrative Agent); *provided* that (a) it shall have assigned all of its Commitments and Loans pursuant to <u>Section 12.01(b)</u> hereof at or prior to the time of such resignation and (b) another Lender acceptable to the Borrower shall have assumed the L/C Commitments of such resigning Issuing Lender (and, to the extent such assuming Lender was not an Issuing Lender hereunder, such assuming Lender shall have become an Issuing Lender 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;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp; Any resigning Issuing Lender shall retain all the rights, powers, privileges and duties of an Issuing Lender hereunder with respect to all Letters of Credit issued by it that are outstanding as of the effective date of its resignation as an Issuing Lender and all L/C Obligations with respect thereto (including, without limitation, the right to require the Lenders to take such actions as are required under <u>Section 2.03(e)</u>).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp; *Reporting of Letter of Credit Information and L/C Commitment*. At any time that there is an Issuing Lender that is not also the financial institution acting as Administrative Agent, then (a) on the last Business Day of each calendar month, (b) on each date that a Letter of Credit is amended, terminated or otherwise expires, (c) on each date that a Letter of Credit is issued or the expiry date of a Letter of Credit is extended, and (d) upon the request of the Administrative Agent, each Issuing Lender (or, in the case of <u>clauses (b)</u>, <u>(c)</u> or <u>(d)</u> of this <u>Section 2.03(j)</u>, the applicable Issuing Lender) shall deliver to the Administrative Agent a report setting forth in form and detail reasonably satisfactory to the Administrative Agent information (including, without limitation, any reimbursement, Cash Collateral, or termination in respect of Letters of Credit issued by such Issuing Lender) with respect to each Letter of Credit issued by such Issuing Lender that is outstanding hereunder. In addition, each Issuing Lender shall provide notice to the Administrative Agent of its L/C Commitment, or any change thereto, promptly upon it becoming an Issuing Lender or making any change to its L/C Commitment (it being understood that any change to the L/C Commitment of any Issuing Lender shall only be made in accordance with the terms of the definition of "L/C Commitment"). No failure on the part of any Issuing Lender to provide such information pursuant to this <u>Section 2.03(j)</u> shall limit the obligations of the Borrower or any Lender hereunder with respect to its reimbursement and participation obligations hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp; *Letters of Credit Issued for Subsidiaries*. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse, or to cause the applicable Subsidiary to reimburse, the applicable Issuing Lender hereunder for any and all drawings under such Letter of Credit. The Borrower hereby acknowledges that the issuance of Letters of Credit for the account of any of its Subsidiaries inures to the benefit of the Borrower and that the Borrower's business derives substantial benefits from the businesses of such Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp; *Existing Letters of Credit*. As of the Effective Date, each Existing Letter of Credit shall be deemed a Letter of Credit issued hereunder for all purposes under this Agreement without need for any further action by the Borrower or any other Person.

**Section 2.04** *Types of Advances*. The Advances may consist of Alternate Base Rate Loans or SOFR Loans, or a combination thereof, selected by the Borrower in accordance with <u>Sections 2.08</u> and <u>2.09</u>.

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**Section 2.05**&nbsp;&nbsp;&nbsp;&nbsp; *Fees; Reductions in Aggregate Commitment*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Commitment Fee*. The Borrower agrees to pay to the Administrative Agent for the account of each Lender a commitment fee in Dollars (the "**Commitment Fee**") at a per annum rate equal to the percentage set forth under the heading "Commitment Fee" in the Pricing Schedule on the daily actual excess of such Lender's Commitment (including, for the avoidance of doubt, its Certain Funds Commitment) over such Lender's Outstanding Credit Exposure (such excess, such Lender's "**Actual Unused Commitments**") as adjusted pursuant to <u>Section 2.05(c)</u> from and including the Effective Date to and including the date on which this Agreement is terminated in full and all Obligations hereunder (other than contingent indemnity obligations) have been paid in full pursuant to <u>Section 2.02</u>, payable quarterly in arrears on each Payment Date; *provided* that no Commitment Fee shall accrue hereunder with respect to the Actual Unused Commitment of a Defaulting Lender so long as such Lender shall be a Defaulting Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Fee Letters*. The Borrower shall pay or cause to be paid to the Administrative Agent or Wells Fargo Securities, LLC (in the case of the Wells Fargo Fee Letter) and Bank of America or BofA Securities, Inc. (in the case of the Bank of America Fee Letter) for its own account fees in Dollars in the amounts and at the times specified in the applicable Fee Letter. Such fees shall be fully earned when paid and shall be non-refundable for any reason whatsoever.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Reductions in Aggregate Commitment*. The Borrower may permanently reduce the Aggregate Commitment in whole, or in part ratably (except as provided in <u>Section 2.18</u>) among the Lenders, in integral multiples of $3,000,000 or any whole multiple of $1,000,000 in excess thereof, by giving the Administrative Agent notice of such reduction not later than 11:00 a.m. (New York time) on any Business Day, which notice shall specify the amount of any such reduction and which notice may be conditioned upon the occurrence of one or more events specified therein; *provided*, *however*, that the amount of the Aggregate Commitment may not be reduced below the Aggregate Outstanding Credit Exposure. All accrued Commitment Fees shall be payable on the effective date of any termination of all of the obligations of the Lenders to make Revolving Loans. Notwithstanding the foregoing or anything to the contrary provided in this Agreement, prior to the Certain Funds Availability Date, the Borrower may reduce the then-existing Commitments (excluding the Certain Funds Commitments) and/or the Certain Funds Commitments in such proportions as the Borrower may elect at its sole discretion, so long as such reduction is allocated ratably among the Lenders holding such then-existing Commitments (excluding the Certain Funds Commitments) and/or the Certain Funds Commitments, as applicable.

**Section 2.06**&nbsp;&nbsp;&nbsp;&nbsp; *Minimum Amount of Each Advance*. Each SOFR Advance shall be in the minimum amount of $5,000,000 (and in multiples of $1,000,000 if in excess thereof) and each Alternate Base Rate Advance shall be in the minimum amount of $3,000,000 (and in multiples of $1,000,000 if in excess thereof); *provided*, *however*, that any SOFR Advance or Alternate Base Rate Advance may be in the amount of the unused Aggregate Commitment. The Borrower shall not request a SOFR Advance if, after giving effect to the requested SOFR Advance, more than ten (10) Interest Periods would be in effect (unless such limit has been waived by the Administrative Agent in its sole discretion).

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**Section 2.07**&nbsp;&nbsp;&nbsp;&nbsp; *Prepayments*, *Optional Prepayments*. The Borrower may from time to time pay, without penalty or premium, all of its outstanding Alternate Base Rate Advances, or, in a minimum aggregate amount of $3,000,000 or any integral multiple of $1,000,000 in excess thereof, any portion of its outstanding Alternate Base Rate Advances, upon prior notice to the Administrative Agent substantially in the form of <u>Exhibit C</u>, or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent) appropriately completed and signed by an Authorized Officer of the Borrower stating the proposed date and aggregate principal amount of the applicable prepayments at or before 11:00 a.m. (New York time) on the date of such payment. The Borrower may from time to time pay, subject to the payment of any funding indemnification amounts required by <u>Section 3.04</u> but without penalty or premium, all of its outstanding SOFR Advances, or, in a minimum aggregate amount of $5,000,000 or any integral multiple of $1,000,000 in excess thereof, any portion of its outstanding SOFR Advances upon prior notice to the Administrative Agent substantially in the form of <u>Exhibit C</u>, or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent) appropriately completed and signed by an Authorized Officer of the Borrower stating the proposed date and aggregate principal amount of the applicable prepayments at or before 11:00 a.m. (New York time) at least three (3) Business Days prior, in the case of any SOFR Advances, to the date of such payment (or, subject to the payment of any funding indemnification amounts required by <u>Section 3.04</u>, such other prior notice as the Administrative Agent may agree to). Subject to <u>Section 2.21</u>, each such prepayment of a Revolving Borrowing shall be applied ratably to the Revolving Loans of the Lenders included in such Revolving Borrowing in accordance with their respective Pro Rata Share. Any notice delivered pursuant to this <u>Section 2.07</u> may be conditioned upon the occurrence of one or more events specified therein.

**Section 2.08**&nbsp;&nbsp;&nbsp;&nbsp; *Method of Selecting Types and Interest Periods for New Advances*. The Borrower shall select the Type of Advance and, in the case of each SOFR Advance, the Interest Period applicable thereto from time to time. The Borrower shall give the Administrative Agent notice (which notice may be conditioned on the satisfaction or waiver (in accordance with <u>Section 8.02</u>) of the conditions set forth in <u>Section 4.02</u>) substantially in the form of <u>Exhibit E</u> or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), in each case appropriately completed and signed by an Authorized Officer of the Borrower (a "**Borrowing Notice**") not later than 11:00 a.m. (New York time) on the Borrowing Date of each Alternate Base Rate Advance and 11:00 a.m. (New York time) three (3) Business Days (or, in the case of the Certain Funds Advance, 2:00 p.m. (New York time), one (1) Business Day) before the Borrowing Date for each SOFR Advance. A Borrowing Notice shall specify:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Borrowing Date, which shall be a Business Day, of such Advance,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the aggregate amount of such Advance and whether such Advance constitutes the Certain Funds Advance,

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Type of Advance selected,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; in the case of each SOFR Advance, the Interest Period applicable thereto, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the location and number of the Borrower's account to which proceeds of the Advance are to be disbursed.

If no Interest Period is specified with respect to any requested SOFR Advance, the Borrower will be deemed to have selected an Interest Period of one month's duration.

For the avoidance of doubt, any Borrowing Notice in respect of the Certain Funds Advance may be subject to and conditioned upon the occurrence of the Foxtrot Closing Date.

**Section 2.09** *Conversion and Continuation of Outstanding Advances*. Alternate Base Rate Advances shall continue as Alternate Base Rate Advances unless and until such Alternate Base Rate Advances are converted into SOFR Advances pursuant to this <u>Section 2.09</u> or are repaid in accordance with <u>Section 2.07</u>. Each SOFR Advance shall continue as a SOFR Advance until the end of the then-applicable Interest Period therefor, at which time such SOFR Advance shall be automatically converted into an Alternate Base Rate Advance, unless (x) such SOFR Advance is or was repaid in accordance with <u>Section 2.07</u> or (y) the Borrower shall have given the Administrative Agent a Conversion/Continuation Notice requesting that, at the end of such Interest Period, such SOFR Advance continues as a SOFR Advance for the same or another Interest Period. Subject to the terms of <u>Section 2.06</u>, the Borrower may elect from time to time to convert all or any part of an Alternate Base Rate Advance into a SOFR Advance. No Advance may be converted into or continued as an Advance denominated in a different currency, but instead must be repaid in the original currency of such Advance and reborrowed in the other currency. Notwithstanding anything to the contrary contained in this <u>Section 2.09</u>, when any Default has occurred and is continuing, no Dollar-denominated Advance may be converted or continued as a SOFR Advance (except with the consent of the Required Lenders). The Borrower shall give the Administrative Agent notice substantially in the form of <u>Exhibit F</u> (a "**Conversion/Continuation Notice**") or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), in each case appropriately completed and signed by an Authorized Officer of the Borrower, of each conversion of an Alternate Base Rate Advance into a SOFR Advance or continuation of a SOFR Advance not later than 11:00 a.m. (New York time) at least three (3) Business Days prior to the date of the requested conversion or continuation, specifying:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the requested date, which shall be a Business Day, of such conversion or continuation,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the aggregate amount and Type of the Advance which is to be converted or continued as a SOFR Advance, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the duration of the Interest Period applicable thereto.

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**Section 2.10**&nbsp;&nbsp;&nbsp;&nbsp; *Interest Rates*. Each Alternate Base Rate Advance shall bear interest on the outstanding principal amount thereof, for each day from and including the date such Advance is made or is converted from a SOFR Advance into an Alternate Base Rate Advance, to but excluding the date it is paid or is converted into a SOFR Advance pursuant to <u>Section 2.09</u> hereof, at a rate per annum equal to the Alternate Base Rate *plus* the Applicable Margin for such day. Changes in the rate of interest on that portion of any Advance maintained as an Alternate Base Rate Advance will take effect simultaneously with each change in the Alternate Base Rate. Each SOFR Advance shall bear interest on the outstanding principal amount thereof, for each day from and including the first day of the Interest Period applicable thereto to (but not including) the last day of such Interest Period at Term SOFR for the applicable period *plus* the Applicable Margin. No Interest Period may end after the Facility Termination Date.

**Section 2.11**&nbsp;&nbsp;&nbsp;&nbsp; *Rates Applicable After Default*. During the continuance of a Default under <u>Section 7.02</u>, the Required Lenders may, at their option, by notice to the Borrower (which notice may be revoked at the option of the Required Lenders notwithstanding any provision of <u>Section 8.02</u> requiring unanimous consent of the Lenders to changes in interest rates and which election and notice shall not be required after a Default or Unmatured Default under <u>Section</u> <u>7.05</u> or <u>7.06</u>), declare that interest on the overdue amount of the Loans shall be payable at a rate (after as well as before the commencement of any proceeding under any Debtor Relief Laws) equal to 2.0% per annum in excess of the rate otherwise payable thereon (and, with respect to any other overdue amounts, shall bear interest at a rate equal to the Alternate Base Rate *plus* the Applicable Margin applicable to Alternate Base Rate Loans *plus* 2.0% per annum) commencing on the date of such Default and continuing until such Default is cured or waived.

**Section 2.12**&nbsp;&nbsp;&nbsp;&nbsp; *Method of Payment*. Except as otherwise specified herein, all payments by the Borrower of principal, interest, fees and its other Obligations shall be made in Dollars. All payments of the Obligations hereunder shall be made, without setoff, deduction, or counterclaim, in immediately available funds to the Administrative Agent at the Administrative Agent's address specified pursuant to <u>Article 13</u>, or at any other Lending Installation of the Administrative Agent specified in writing by the Administrative Agent to the Borrower, by 1:00 p.m. (New York time), on the date when due and shall be applied ratably by the Administrative Agent among the Lenders entitled thereto. Each payment to the Administrative Agent of any Issuing Lender's fees or L/C Participants' commissions shall be made in like manner, but for the account of such Issuing Lender or the L/C Participants, as the case may be. Each payment delivered to the Administrative Agent for the account of any Lender shall be delivered promptly by the Administrative Agent to such Lender in the same type of funds that the Administrative Agent received at such Lender's address specified pursuant to <u>Article 13</u> or at any Lending Installation specified in a notice received by the Administrative Agent from such Lender.

**Section 2.13**&nbsp;&nbsp;&nbsp;&nbsp; *Noteless Agreement; Evidence of Indebtedness*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each Lender and each Issuing Lender shall maintain in accordance with its usual practice an account or accounts evidencing the extensions of credit made by such Lender or Issuing Lender, as applicable, to the Borrower from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Administrative Agent shall also maintain accounts in which it will record (A) the date and the amount of each Loan made hereunder, the Type thereof and the Interest Period, if any, applicable thereto, (B) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder, (C) the effective date and amount of each Assignment and Assumption delivered to and accepted by it and the parties thereto pursuant to <u>Section 12.01</u>, (D) the amount of any sum received by the Administrative Agent hereunder from the Borrower and each Lender's share thereof, and (E) all other appropriate debits and credits as provided in this Agreement, including, without limitation, all fees, charges, expenses and interest. In the event of any conflict between the accounts and records maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall control absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The entries maintained in the accounts maintained pursuant to <u>clauses (a)</u> and <u>(b)</u> above shall be *prima facie* evidence of the existence and amounts of the Obligations therein recorded; *provided*, *however*, that the failure of the Administrative Agent, any Issuing Lender or any Lender to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay its Obligations in accordance with their terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition to the accounts and records referred to in <u>clauses (a)</u> and <u>(b)</u> above, each Lender and the Administrative Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit. In the event of any conflict between the accounts and records maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any Lender may request that the Loans made or to be made by it be evidenced by a promissory note in substantially the form of <u>Exhibit D</u> (each, a "**Note**"). In such event, the Borrower shall prepare, execute and deliver to such Lender such Note or Notes payable to such Lender (or its registered assigns). Thereafter, the Loans evidenced by each such Note and interest thereon shall at all times (including after any assignment pursuant to <u>Section 12.01</u>) be represented by one or more Notes payable to the payee named therein or any assignee pursuant to <u>Section 12.01</u>, except to the extent that any such Lender or assignee subsequently returns any such Note for cancellation and requests that such Loans once again be evidenced as described in <u>clauses (a)</u> and <u>(b)</u> above.

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**Section 2.14**&nbsp;&nbsp;&nbsp;&nbsp; *Interest Payment Dates; Interest and Fee Basis; Term SOFR Conforming Changes*. Interest accrued on each Alternate Base Rate Advance shall be payable in arrears on each Payment Date, commencing with the first such date to occur after the Effective Date and on any date on which the Alternate Base Rate Advance is prepaid, whether due to acceleration or otherwise. Interest accrued on that portion of the outstanding principal amount of any Alternate Base Rate Advance converted into a SOFR Advance on a day other than a Payment Date shall be payable on the date of conversion. Interest accrued on each SOFR Advance shall be payable in arrears on the last day of its applicable Interest Period, on any date on which such SOFR Advance is prepaid, whether by acceleration or otherwise, and on the Facility Termination Date. Interest accrued on each SOFR Advance having an Interest Period longer than three (3) months shall also be payable on the last day of each three-month interval during such Interest Period. Interest accrued pursuant to <u>Section 2.11</u> shall be payable on demand. With respect to (a) interest on all Advances (other than Alternate Base Rate Loans), Commitment Fees and other fees hereunder, such interest or fees shall be calculated for actual days elapsed on the basis of a 360-day year and (b) interest on Advances which are Alternate Base Rate Loans, such interest shall be calculated for actual days elapsed on the basis of a 365/366 day year. Interest shall be payable for the day an Advance is made but not for the day of any payment on the amount paid if payment is received by 1:00 p.m. (New York time). If any payment of principal of or interest on an Advance, any fees or any other amounts payable to any Agent or any Lender hereunder shall become due on a day which is not a Business Day, such payment shall be made on the next succeeding Business Day and, in the case of a principal payment, such extension of time shall be included in computing interest, fees and commissions in connection with such payment. In connection with the use or administration of Term SOFR, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. The Administrative Agent will promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.

**Section 2.15**&nbsp;&nbsp;&nbsp;&nbsp; *Notification of Advances, Interest Rates, Prepayments and Commitment Reductions; Availability of Revolving Loans*. Promptly after receipt thereof, the Administrative Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice and prepayment notice received by it hereunder. The Administrative Agent will notify each Lender of the interest rate applicable to each Advance promptly upon determination of such interest rate and will give prompt notice of each change in the Alternate Base Rate not later than 1:00 p.m. (New York time). The Administrative Agent will make the funds so received from the Lenders available to the Borrower at the Administrative Agent's aforesaid address not later than 3:00 p.m. (New York time). Notwithstanding the foregoing, in the case of the Certain Funds Advance, each Lender shall make the amount of its Certain Funds Commitment (or the applicable portion thereof) available to the Administrative Agent in Same Day Funds in Dollars at the Administrative Agent's Office, not later than 9:30 a.m. (New York time) on the Business Day specified in the applicable Borrowing Notice. Upon satisfaction of the conditions set forth in <u>Section 4.03</u>, the Administrative Agent shall make all funds so received in respect of the Certain Funds Advance available to the Borrower in like funds as received by the Administrative Agent either by (at the Borrower's option) (i) crediting the account of the Borrower on the books of the Administrative Agent with such amount in immediately available funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower.

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**Section 2.16**&nbsp;&nbsp;&nbsp;&nbsp; *Lending Installations*. Each Lender may book its Loans at any Lending Installation selected by such Lender and may change its Lending Installation from time to time. All terms of this Agreement shall apply to any such Lending Installation and the Loans and any Notes issued hereunder shall be deemed held by each Lender for the benefit of any such Lending Installation. Each Lender may, by written notice to the Administrative Agent and the Borrower in accordance with <u>Article 13</u>, designate replacement or additional Lending Installations through which Loans will be made by it and for whose account Loan payments are to be made.

**Section 2.17**&nbsp;&nbsp;&nbsp;&nbsp; *Payments Generally; Administrative Agent's Clawback*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Funding by Lenders; Presumption by Administrative Agent*. In connection with any borrowing hereunder, the Administrative Agent may assume that each Lender has made its respective share of such borrowing available on such date in accordance with <u>Section 2.15</u> and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Advance available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in Same Day Funds with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the Overnight Rate and (B) in the case of a payment to be made by the Borrower, the interest rate applicable to Alternate Base Rate Loans. If the Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays its share of the applicable Advance to the Administrative Agent, then the amount so paid shall constitute such Lender's Revolving Loan included in such Advance. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Payments by Borrower; Presumptions by Administrative Agent*. Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or any Issuing Lender hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the applicable Issuing Lender, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders or the Issuing Lenders, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or Issuing Lender, in Same Day Funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the Overnight Rate.

A notice of the Administrative Agent to any Lender or the Borrower with respect to any amount owing under this <u>clause (b)</u> shall be conclusive, absent manifest error.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Obligations of Lenders Several*. The obligations of the Lenders hereunder to make Revolving Loans, to issue or participate in Letters of Credit and to make payments pursuant to <u>Section 9.06(c)</u> are several and not joint. The failure of any Lender to make any Revolving Loan, to fund any such participation or to make any payment under <u>Section 9.06(c)</u> on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Revolving Loan, to purchase its participation or to make its payment under <u>Section 9.06(c)</u>.

**Section 2.18**&nbsp;&nbsp;&nbsp;&nbsp; *Replacement of Lender*. If any Lender requests compensation under <u>Section 3.01</u> or <u>3.02</u>, or if any Lender gives notice to the Borrower pursuant to <u>Section</u> <u>3.07(b)</u>, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to <u>Section 3.05</u>, or if any Lender is a Defaulting Lender or a Declining Lender, or if a Lender fails to consent to an amendment or waiver approved by the Required Lenders as to any matter for which such Lender's consent is needed, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, <u>Section 12.01</u>), all of its interests, rights and obligations under this Agreement and the related Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); *provided* that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Borrower shall have paid to the Administrative Agent the assignment fee specified in <u>Section 12.01(b)(iv)</u>;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and funded participations in Letter of Credit draws, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under <u>Section 3.04</u>) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp; in the case of any such assignment resulting from a claim for compensation under <u>Section 3.01</u> or payments required to be made pursuant to <u>Section 3.05</u>, such assignment will result in a reduction in such compensation or payments thereafter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; such assignment does not conflict with applicable laws; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp; in the case of any such assignment resulting from a failure to consent to an amendment or waiver approved by the Required Lenders, such assignee shall have consented to the relevant amendment or waiver.

A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply.

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**Section 2.19**&nbsp;&nbsp;&nbsp;&nbsp; *Sharing of Payments by Lenders*. Except as otherwise specified herein, if any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of the Loans made by it, resulting in such Lender's receiving payment of a proportion of the aggregate amount of such Loans and accrued interest thereon greater than its Pro Rata Share to which it is entitled pursuant hereto, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the Loans of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them; *provided* that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; the provisions of this <u>Section 2.19</u> shall not be construed to apply to (x) any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender or payments made on any Existing Stated Maturity Date pursuant to <u>Section 2.23</u>), (y) the application of Cash Collateral as provided in <u>Section 2.20</u> or (z) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or subparticipations in Letters of Credit to any assignee or participant, other than to the Borrower or any Subsidiary (as to which the provisions of this <u>Section 2.19</u> shall apply).

The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation.

**Section 2.20**&nbsp;&nbsp;&nbsp;&nbsp; *Cash Collateral*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) *Cash Collateralization.* If there shall exist a Defaulting Lender, within one (1) Business Day following the written request of the Administrative Agent or any Issuing Lender (with a copy to the Administrative Agent), the Borrower shall Cash Collateralize the Fronting Exposure of the Issuing Lenders with respect to such Defaulting Lender (determined after giving effect to <u>Section 2.21</u> and any Cash Collateral provided by such Defaulting Lender) in an amount not less than the Minimum Collateral Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Grant of Security Interest*. The Borrower, and to the extent provided by any Defaulting Lender, such Defaulting Lender, hereby grants to the Administrative Agent, for the benefit of the Issuing Lenders, and agrees to maintain, a first priority security interest in all such Cash Collateral as security for the Defaulting Lender's obligation to fund participations in respect of L/C Obligations, to be applied pursuant to <u>clause (c)</u> below. If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent and the Issuing Lenders as herein provided, or that the total amount of such Cash Collateral is less than the Minimum Collateral Amount, the Borrower will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency (after giving effect to any Cash Collateral provided by the Defaulting Lender).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Application*. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under this <u>Section 2.20</u> or <u>8.01</u> in respect of Letters of Credit shall be applied to the satisfaction of the Defaulting Lender's obligation to fund participations in respect of L/C Obligations (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) for which the Cash Collateral was so provided, prior to any other application of such property as may otherwise be provided for herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) &nbsp;&nbsp;&nbsp;&nbsp; *Termination of Requirement*. Cash Collateral (or the appropriate portion thereof) provided to reduce the Fronting Exposure of any Issuing Lender shall no longer be required to be held as Cash Collateral pursuant to this <u>Section 2.20</u> following (i) the elimination of the applicable Fronting Exposure (including by the termination of Defaulting Lender status of the applicable Lender), or (ii) the determination by the Administrative Agent and the Issuing Lenders that there exists excess Cash Collateral; *provided* that, subject to <u>Section 2.21</u>, the Person providing Cash Collateral and the Issuing Lenders may agree that Cash Collateral shall be held to support future anticipated Fronting Exposure or other obligations.

**Section 2.21**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Defaulting Lenders*.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; *Waivers and Amendments*. That Defaulting Lender's right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in <u>Section 8.02</u> and the definition of Required Lender.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Reallocation of Payments*. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of that Defaulting Lender under this Agreement or the other Loan Documents (whether voluntary or mandatory, at maturity, pursuant to <u>Section 8.01</u> or otherwise, and including any amounts made available to the Administrative Agent by that Defaulting Lender pursuant to <u>Section 11.01</u>) shall be applied at such time or times as may be determined by the Administrative Agent as follows: *first*, to the payment of any amounts owing by that Defaulting Lender to the Administrative Agent hereunder; *second*, to the payment on a <u>pro</u> <u>rata</u> basis of any amounts owing by such Defaulting Lender to any Issuing Lender hereunder; *third*, to Cash Collateralize the Fronting Exposure of the Issuing Lenders with respect to such Defaulting Lender in accordance with <u>Section 2.20</u> with a corresponding release of any Cash Collateral provided by the Borrower and/or a reversal of any reallocations made among the Lenders with respect to such Fronting Exposure pursuant to <u>Section 2.21(e)</u>; *fourth*, as the Borrower may request (so long as no Default or Unmatured Default exists), to the funding of any Loan or funded participation in respect of which that Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; *fifth*, if so determined by the Administrative Agent and the Borrower, to be held in a deposit account and released in order to (A) satisfy obligations of that Defaulting Lender's potential future funding obligations with respect to Loans and funded participations under this Agreement and (B) Cash Collateralize the Issuing Lenders' future Fronting Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in accordance with <u>Section 2.20</u>; *sixth*, to the payment of any amounts owing to the Lenders or the Issuing Lenders as a result of any judgment of a court of competent jurisdiction obtained by any Lender or any Issuing Lender against that Defaulting Lender as a result of that Defaulting Lender's breach of its obligations under this Agreement; *seventh*, so long as no Default or Unmatured Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against that Defaulting Lender as a result of that Defaulting Lender's breach of its obligations under this Agreement; and *eighth*, to that Defaulting Lender or as otherwise directed by a court of competent jurisdiction; *provided* that if (x) such payment is a payment of the principal amount of any Loans or funded participations in Letters of Credit in respect of which that Defaulting Lender has not fully funded its appropriate share, and (y) such Loans were made or the related Letters of Credit were issued at a time when the conditions set forth in <u>Section 4.02</u> were satisfied or waived, such payment shall be applied first to pay the Loans of, and funded participations in Letters of Credit owed to, all Non-Defaulting Lenders on a <u>pro</u> <u>rata</u> basis prior to being applied to the payment of any Loans of, or funded participations in Letters of Credit owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in L/C Obligations are held by the Lenders <u>pro</u> <u>rata</u> in accordance with the Aggregate Commitment under the Revolving Credit Facility without giving effect to <u>Section 2.22(d)</u>. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this <u>Section 2.21</u> shall be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Certain Fees*. The Defaulting Lender shall not be entitled to receive any Commitment Fee pursuant to <u>Section 2.05</u><u>(a)</u> for any period during which that Lender is a Defaulting Lender. Each Defaulting Lender shall be entitled to receive letter of credit commissions pursuant to <u>Section 2.03</u> for any period during which that Lender is a Defaulting Lender only to the extent allocable to its Pro Rata Share of the stated amount of Letters of Credit for which it has provided Cash Collateral pursuant to <u>Section 2.20</u>. With respect to any letter of credit commission not required to be paid to any Defaulting Lender, the Borrower shall (1) pay to each Non-Defaulting Lender that portion of any such fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender's participation in L/C Obligations that has been reallocated to such Non-Defaulting Lender pursuant to <u>clause (e)</u> below, (2) pay to each applicable Issuing Lender the amount of any such fee otherwise payable to such Defaulting Lender to the extent allocable to such Issuing Lender's Fronting Exposure to such Defaulting Lender, and (3) not be required to pay the remaining amount of any such fee.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Reallocation of Participations to Reduce Fronting Exposure*. All or any part of such Defaulting Lender's participation in L/C Obligations shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Pro Rata Share (calculated without regard to such Defaulting Lender's Commitment) but only to the extent that such reallocation does not cause the aggregate Outstanding Credit Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender's Commitment. Subject to <u>Section 15.07</u>, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender's increased exposure following such reallocation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Cash Collateral*. If the reallocation described in <u>clause (e)</u> above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, Cash Collateralize the Issuing Lenders' Fronting Exposure in accordance with the procedures set forth in <u>Section 2.20</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Defaulting Lender Cure*. If the Borrower, the Administrative Agent and the Issuing Lenders agree in writing in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein, that Lender will, to the extent applicable, purchase that portion of outstanding Revolving Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the Revolving Loans and funded and unfunded participations in Letters of Credit to be held on a pro rata basis by the Lenders in accordance with their Pro Rata Shares whereupon that Lender will cease to be a Defaulting Lender; *provided* that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and *provided*, *further*, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender's having been a Defaulting Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *New Letters of Credit*. So long as any Lender is a Defaulting Lender, no Issuing Lender shall be required to issue, extend, increase, reinstate or renew any Letter of Credit unless it is satisfied that it will have no Fronting Exposure after giving effect thereto.

**Section 2.22** *Incremental Loans*. At any time after the Effective Date and prior to the Facility Termination Date, the Borrower may by written notice to the Administrative Agent elect to request the establishment of one or more increases in the Aggregate Commitment (any such increase, an "**Incremental Revolving Credit Commitment**") to make revolving credit loans under the Revolving Credit Facility (any such increase, an "**Incremental Revolving Credit Increase**"); *provided* that (1) the total aggregate principal amount for all such increases during the term of this Agreement shall not exceed $700,000,000 and (2) the total aggregate amount for each Incremental Revolving Credit Increase shall not be less than $25,000,000 or, if less, the remaining amount permitted pursuant to the foregoing <u>clause (1)</u>. Each such notice shall specify the date (each, an "**Increased Amount Date**") on which the Borrower proposes that any Incremental Revolving Credit Increase shall be effective. The Borrower may invite any Lender, any Affiliate of any Lender and/or any Approved Fund, and/or any other Person reasonably satisfactory to the Administrative Agent to provide an Incremental Revolving Credit Commitment (any such Person, an "**Incremental Lender**"). Any Incremental Revolving Credit Commitments shall become effective as of such Increased Amount Date; *provided* that:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; no Unmatured Default or Default shall exist on such Increased Amount Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; each of the representations and warranties contained in <u>Article 5</u> (other than the representations and warranties set forth in <u>Sections 5.14</u> and <u>5.15</u>) shall be true and correct in all material respects, except to the extent any such representation and warranty is qualified by materiality or reference to Material Adverse Effect, in which case, such representation and warranty shall be true and correct in all respects, on such Increased Amount Date with the same effect as if made on and as of such date (except for any such representation and warranty that by its terms is made only as of an earlier date, which representation and warranty shall be true and correct in all material respects (except to the extent any such representation and warranty is qualified by materiality or reference to Material Adverse Effect, in which case, such representation and warranty shall be true and correct in all respects) as of such earlier date);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; in the case of each Incremental Revolving Credit Increase:

&nbsp;&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 outstanding Revolving Loans and L/C Obligations will be reallocated by the Administrative Agent on the applicable Increased Amount Date among the Lenders (including the Incremental Lenders providing such Incremental Revolving Credit Increase) in accordance with their revised Pro Rata Share (and the Lenders (including the Incremental Lenders providing such Incremental Revolving Credit Increase) agree to make all payments and adjustments necessary to effect such reallocation and the Borrower shall pay any and all costs required pursuant to <u>Section 3.04</u> in connection with such reallocation as if such reallocation were a repayment); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; such Incremental Revolving Credit Commitments shall be effected pursuant to one or more Lender Joinder Agreements executed and delivered by the Borrower, the Administrative Agent and the applicable Incremental Lenders (which Lender Joinder Agreement(s) may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this <u>Section 2.22</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) &nbsp;&nbsp;&nbsp;&nbsp; No existing Lender shall be obligated to participate in any Incremental Revolving Credit Increase, and each Lender's decision to provide (or not provide) an Incremental Revolving Credit Commitment in any instance shall be made in such Lender's sole and absolute discretion in each case.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp; On any Increased Amount Date on which any Incremental Revolving Credit Increase becomes effective, subject to the foregoing terms and conditions, each Incremental Lender with an Incremental Revolving Credit Commitment shall become a Lender hereunder.

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**Section 2.23**&nbsp;&nbsp;&nbsp;&nbsp; *Extension*. On not more than two occasions following the Effective Date during the term of this Agreement, and no more than once in any 12-month period, the Borrower may, by written notice to the Administrative Agent (which shall promptly deliver a copy to each of the Lenders) no earlier than sixty (60) days and no later than thirty (30) days prior to the proposed effective date of an extension (such date of effectiveness, an "**Extension Date**"), request that the Lenders extend the Stated Maturity Date and the Commitments for a period of one year from the Stated Maturity Date then in effect hereunder (the then "**Existing Stated Maturity Date**"). Each Lender shall, by notice to the Borrower and the Administrative Agent, given no later than fifteen (15) days (or such other date specified by the Borrower in such written notice delivered pursuant to the immediately preceding sentence or any supplement thereto) after such written notice is delivered to the Administrative Agent, advise the Borrower whether or not it agrees to the requested extension (each Lender agreeing to a requested extension, a "**Consenting Lender**" and each Lender declining to agree to a requested extension, a "**Declining Lender**"). Any Lender that has not so advised the Borrower and the Administrative Agent by the applicable deadline shall be deemed to have declined to agree to such extension and shall be a Declining Lender (unless such Lender subsequently agrees to such requested extension and the Borrower elects in its sole discretion to treat such Lender as a Consenting Lender). If Lenders constituting the Required Lenders shall have agreed to any such extension request, then the Stated Maturity Date shall, as to the Consenting Lenders and any Lender replacing a Declining Lender, be extended on the Extension Date to the date that is one year after the then Existing Stated Maturity Date. The decision to agree or withhold agreement to any Stated Maturity Date extension request shall be at the sole discretion of each Lender. The Commitment of any Declining Lender shall terminate on the Existing Stated Maturity Date applicable to such Declining Lender. The principal amount of any outstanding Loans made by Declining Lenders, together with any accrued interest thereon and any accrued fees and other amounts payable to or for the accounts of such Declining Lenders hereunder, shall be due and payable on the Existing Stated Maturity Date applicable to such Declining Lenders, and on the Existing Stated Maturity Date applicable to such Declining Lenders, the Borrower shall also make such other prepayments of Loans as shall be required in order that, after giving effect to the termination of the Commitments of, and all payments to, Declining Lenders pursuant to this sentence, the sum of the Aggregate Outstanding Credit Exposure shall not exceed the Aggregate Commitments. Notwithstanding the foregoing provisions of this paragraph, the Borrower shall have the right, pursuant to and in accordance with the requirements of <u>Section 12.01</u>, at any time prior to any Existing Stated Maturity Date, to cause a Declining Lender to assign its interests, rights and obligations hereunder to a Lender or (subject to the consent of the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed), solely to the extent such consent would be required for an assignment pursuant to <u>Section 12.01</u>) other Eligible Assignee that agrees to a request for the extension of the Existing Stated Maturity Date, and any such assignee shall for all purposes constitute a Consenting Lender. Notwithstanding the foregoing, no extension of the Stated Maturity Date pursuant to this paragraph shall become effective unless (i) on the applicable Extension Date, no Unmatured Default or Default has occurred and is continuing, (ii) each of the representations and warranties set forth in <u>Article 5</u> (other than the representations and warranties set forth in <u>Sections 5.14</u> and <u>5.15</u>) of this Agreement is true and correct in all material respects (except to the extent such representations and warranties are qualified with "materiality" or "Material Adverse Effect" or similar terms, in which case such representations and warranties are true and correct in all respects) as of such Extension Date, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct in all material respects (except to the extent such representations and warranties are qualified with "materiality" or "Material Adverse Effect" or similar terms, in which case such representations and warranties shall have been true and correct in all respects) on and as of such earlier date, (iii) the remaining maturity of the Commitments, after giving effect to such extension, does not exceed five (5) years from the applicable Extension Date and (iv) the Administrative Agent shall have received an officer's certificate, signed by an Authorized Officer of the Borrower, certifying that the foregoing conditions (i) and (ii) are satisfied as of the applicable Extension Date.

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**Section 2.24**&nbsp;&nbsp;&nbsp;&nbsp; *Certain Funds Availability Date*. Prior to the Certain Funds Availability Date, the Certain Funds Commitments shall not be available to be borrowed. The Certain Funds Commitments shall automatically become available on and after the Certain Funds Availability Date. The availability of the Certain Funds Commitments and the resulting increase in available Commitments contemplated by the immediately preceding sentence shall be subject solely to the occurrence of either (x) the Foxtrot Closing Date or (y) the date that the Foxtrot Acquisition Agreement is validly terminated in accordance with its terms or the Borrower notifies the Administrative Agent in writing that pursuit of the Foxtrot Acquisition is being abandoned by the Borrower; *provided* that the Administrative Agent receives a written notice (email being sufficient) from the Borrower of the occurrence of the event specified in either the foregoing <u>clause (x)</u> or <u>clause (y)</u> (the date the Administrative Agent receives such written notice, the "**Certain Funds Availability Date**").

ARTICLE 3

Yield Protection; Taxes

**Section 3.01**&nbsp;&nbsp;&nbsp;&nbsp; *Yield Protection*. If, on or after the date of this Agreement, 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; imposes, modifies or deems applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement reflected in Term SOFR) or any Issuing Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp; subjects any Lender or Issuing Lender to any Tax of any kind whatsoever (except for Indemnified Taxes or Other Taxes covered by <u>Section 3.05</u> and Excluded Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; or

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) imposes on any Lender or any Issuing Lender any other condition, cost or expense affecting this Agreement or SOFR Loans made by such Lender or any Letter of Credit or participation therein;

and the result of any of the foregoing shall be to increase the cost to such Lender of making, continuing, converting to or maintaining any SOFR Loans (or, in the case of a Change in Law with respect to Taxes, any Loan) or of maintaining its obligation to make any such Loan, or to increase the cost to such Lender or Issuing Lender of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or Issuing Lender hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or Issuing Lender, the Borrower shall pay to such Lender or Issuing Lender, as the case may be, such additional amount or amounts as will compensate such Lender or Issuing Lender, as the case may be, for such additional costs incurred or reduction suffered. Notwithstanding the foregoing, no Lender or Issuing Lender shall be entitled to seek compensation under this <u>Section 3.01</u> unless such Lender or Issuing Lender is generally seeking compensation from other borrowers that are similarly situated to and of similar creditworthiness with respect to its similarly affected commitments, loans and/or participations under agreements with such borrowers having provisions similar to this <u>Section 3.01</u>.

**Section 3.02**&nbsp;&nbsp;&nbsp;&nbsp; *Changes in Capital Adequacy Regulations; Certificates for Reimbursement; Delay in Requests.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Changes in Capital Adequacy*. If any Lender or Issuing Lender determines that any Change in Law after the date of this Agreement affecting such Lender or Issuing Lender or any Lending Installation of such Lender or Issuing Lender or such Lender's or Issuing Lender's holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender's or Issuing Lender's capital or on the capital of such Lender's or Issuing Lender's holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made by, or participations in Letters of Credit held by, such Lender, or the Letters of Credit issued by such Issuing Lender to a level below that which such Lender or Issuing Lender or such Lender's or Issuing Lender's holding company could have achieved but for such Change in Law (taking into consideration such Lender's or Issuing Lender's policies and the policies of such Lender's or Issuing Lender's holding company with respect to capital adequacy), then from time to time the Borrower will pay to such Lender or Issuing Lender, as the case may be, such additional amount or amounts as will compensate such Lender or Issuing Lender such Lender's or Issuing Lender's holding company for any such reduction suffered. Notwithstanding the foregoing, no Lender or Issuing Lender shall be entitled to seek compensation under this <u>Section 3.02</u> unless such Lender or Issuing Lender is generally seeking compensation from other borrowers that are similarly situated to and of similar creditworthiness with respect to its similarly affected commitments, loans and/or participations under agreements with such borrowers having provisions similar to this <u>Section 3.02</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; *Certificates for Reimbursement*. A certificate of a Lender or an Issuing Lender setting forth the amount or amounts necessary to compensate such Lender, such Issuing Lender or their respective holding companies, as the case may be, as specified in <u>Section 3.01</u> or <u>clause</u> <u>(a)</u> of this <u>Section 3.02</u> and delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay to such Lender or Issuing Lender, as the case may be, the amount shown as due on any such certificate within fifteen (15) days after receipt thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp; *Delay in Requests*. Failure or delay on the part of any Lender or Issuing Lender to demand compensation pursuant to the foregoing provisions of this <u>Section 3.02</u> or <u>Section 3.01</u> shall not constitute a waiver of such Lender's or Issuing Lender's right to demand such compensation, *provided* that the Borrower shall not be required to compensate a Lender or Issuing Lender, as the case may be, pursuant to the foregoing provisions of this <u>Section 3.02</u> or <u>Section 3.01</u> for any increased costs incurred or reductions suffered more than nine (9) months prior to the date that such Lender or Issuing Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender's or Issuing Lender's intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive effect thereof).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; *Additional Reserve Requirements*. The Borrower shall pay to each Lender, as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five (5) decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, *provided* the Borrower shall have received at least thirty (30) days' prior notice (with a copy to the Administrative Agent) of such additional costs from such Lender. Such Lender shall deliver a certificate to the Borrower setting forth in reasonable detail a calculation of such actual costs incurred by such Lender and shall certify that it is generally charging such costs to similarly situated customers of similar creditworthiness of the applicable Lender under agreements having provisions similar to this <u>Section 3.02(d)</u>. If a Lender fails to give notice thirty (30) days prior to the relevant interest payment date, such additional costs shall be due and payable thirty (30) days from receipt of such notice. For the avoidance of doubt, any amounts paid under this <u>Section 3.02(d)</u> shall be without duplication of adjustments in the definition of "Term SOFR."

**Section 3.03**&nbsp;&nbsp;&nbsp;&nbsp; [*Reserved*]

**Section 3.04** *Compensation for Losses*. Upon demand of any Lender, the Borrower shall promptly compensate such Lender or such Issuing Lender for and hold such Lender or such Issuing Lender harmless from any loss, cost or expense incurred by it as a result of:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; any continuation, conversion, payment or prepayment of any Loan other than an Alternate Base Rate Loan on a day other than the last day of the Interest Period for such Loan or other than upon at least three (3) Business Days' prior notice to the Administrative Agent (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise, but excluding any prepayment or conversion required pursuant to <u>Section</u> <u>3.07(b)</u>);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; any failure by the Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Loan other than an Alternate Base Rate Loan on the date or in the amount notified by the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [*reserved*]; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; any assignment of a SOFR Loan on a day other than the last day of the Interest Period therefor as a result of a request by the Borrower pursuant to <u>Section 2.18</u>;

including any loss or expense arising from the liquidation or reemployment of funds or from any fees payable, in each case, to terminate the deposits, if any, from which such funds were obtained. The Borrower shall also pay any customary administrative fees charged by such Lender in connection with the foregoing.

**Section 3.05**&nbsp;&nbsp;&nbsp;&nbsp; *Taxes*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any and all payments by or on account of any obligation of the Borrower hereunder or under any other Loan Document shall to the extent permitted by applicable laws be made free and clear of and without reduction or withholding for any Taxes. If, however, applicable laws require the Borrower or the Administrative Agent to withhold or deduct any such Tax, such Tax shall be withheld or deducted in accordance with such laws as determined by the Borrower or the Administrative Agent, as the case may be, upon the basis of the information and documentation to be delivered pursuant to <u>clause</u> <u>(e)</u> below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) &nbsp;&nbsp;&nbsp;&nbsp; If the Borrower or the Administrative Agent shall be required by applicable law to withhold or deduct any Taxes from any payment under any Loan Document, then (A) the Borrower or the Administrative Agent, as applicable, shall withhold or make such deductions as are determined by the Borrower or the Administrative Agent, as applicable, to be required based upon the information and documentation it, or the applicable taxing authority, has received pursuant to <u>clause</u> <u>(e)</u> below (for the avoidance of doubt, in the case of any such information and documentation received by an applicable taxing authority, solely to the extent the Borrower or the Administrative Agent has been provided with a copy of such information and documentation or otherwise has actual knowledge of such information and documentation and, in each case, is entitled to rely thereon), (B) the Borrower or the Administrative Agent, as applicable, shall timely pay the full amount withheld or deducted to the relevant Governmental Authority in accordance with applicable law, and (C) to the extent that the withholding or deduction is made on account of Indemnified Taxes or Other Taxes, the sum payable by the Borrower shall be increased as necessary so that after any required withholding or the making of all required deductions (including deductions applicable to additional sums payable under this <u>Section 3.05</u>) the Administrative Agent or any Lender or Issuing Lender receives an amount equal to the sum it would have received had no such withholding or deduction been made.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Payment of Other Taxes*. Without limiting the provisions of <u>clause (a)</u> above, the Borrower shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *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;(i)&nbsp;&nbsp;&nbsp;&nbsp; Without limiting the provisions of <u>clause (a)</u> or <u>(b)</u> above, the Borrower shall indemnify the Administrative Agent, each Lender and each Issuing Lender and shall make payment in respect thereof within thirty (30) days after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this <u>Section 3.05</u>) withheld or deducted by the Borrower or the Administrative Agent or paid by the Administrative Agent or such Lender or Issuing Lender, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of any such payment or liability delivered to the Borrower by a Lender or Issuing Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender or Issuing Lender, shall be conclusive absent manifest error.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp; Without limiting the provisions of <u>clause (a)</u> or <u>(b)</u> above, each Lender and Issuing Lender shall, and does hereby, indemnify (x) the Borrower and the Administrative Agent, and shall make payment in respect thereof within thirty (30) days after demand therefor, against any and all Taxes and any and all related losses, claims, liabilities, penalties, interest and expenses (including the fees, charges and disbursements of any counsel for the Borrower or the Administrative Agent) incurred by or asserted against the Borrower or the Administrative Agent by any Governmental Authority as a result of (1) the failure by such Lender to deliver, or as a result of the inaccuracy, inadequacy or deficiency of, any documentation required to be delivered by such Lender or Issuing Lender to the Borrower or the Administrative Agent pursuant to <u>Section 3.05(e)</u> or (2) the failure of such Lender or Issuing Lender to comply with the provisions of <u>Section 12.01(d)</u> relating to the maintenance of a Participant Register and (y) the Administrative Agent against any Indemnified Taxes or Other Taxes attributable to such Lender or Issuing Lender (but only to the extent the Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes or Other Taxes and without limiting the obligation of the Borrower to do so) or Excluded Taxes attributable to such Lender or Issuing Lender, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent or the Borrower shall be conclusive absent manifest error. Each Lender and Issuing Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under this Agreement or any other Loan Document against any amount due to the Administrative Agent under this <u>clause</u> <u>(ii)</u>. The agreements in this <u>clause</u> <u>(ii)</u> shall survive the resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all other Obligations.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; *Evidence of Payments*. Upon request by the Borrower or the Administrative Agent, as the case may be, after any payment of Taxes by the Borrower or the Administrative Agent to a Governmental Authority as provided in this <u>Section 3.05</u>, the Borrower shall deliver to the Administrative Agent or the Administrative Agent shall deliver to the Borrower, as the case may be, the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of any return required by law to report such payment or other evidence of such payment reasonably satisfactory to the Borrower or the Administrative Agent, as the case may be.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Status of Lenders and Issuing Lenders; Tax 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;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each Lender and Issuing Lender shall deliver to the Borrower, the Administrative Agent or the applicable taxing authority, at the time or times prescribed by applicable laws or when reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation prescribed by applicable laws or by the taxing authorities of any jurisdiction and such other reasonably requested information (A) to secure any applicable exemption from, or reduction in the rate of, deduction or withholding imposed by any jurisdiction in respect of any payments to be made by the Borrower to such Lender or Issuing Lender, and (B) as will permit the Borrower or the Administrative Agent, as the case may be, to determine (1) whether or not payments made hereunder or under any other Loan Document are subject to Taxes, (2) if applicable, the required rate of withholding or deduction, and (3) such Lender's or Issuing Lender's entitlement to any available exemption from, or reduction of, applicable Taxes in respect of all payments to be made to such Lender or Issuing Lender by the Borrower pursuant to this Agreement or otherwise to establish such Lender's or Issuing Lender's status for withholding tax purposes 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;(ii)&nbsp;&nbsp;&nbsp;&nbsp; Without limiting the generality of the foregoing, if the Borrower (or, if the Borrower is disregarded as an entity separate from its owner for U.S. federal income tax purposes, the Person treated as its owner for U.S. federal income tax purposes) is a "United States person" within the meaning of Section 7701(a)(30) 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp; any Lender or Issuing Lender (or, if such Lender or Issuing Lender is disregarded as an entity separate from its owner for U.S. federal income tax purposes, the Person treated as its owner for U.S. federal income tax purposes) that is a "United States person" within the meaning of Section 7701(a)(30) of the Code shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender becomes a Lender or Issuing Lender becomes an Issuing Lender under this Agreement (and from time to time thereafter upon the request of the Borrower or the Administrative Agent) executed originals of Internal Revenue Service Form W-9 or such other documentation or information prescribed by applicable laws or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent, as the case may be, to determine whether or not such Lender or Issuing Lender is subject to backup withholding or information reporting requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; each Foreign Lender or non-U.S. Issuing Lender (or, if such Foreign Lender or Issuing Lender is disregarded as an entity separate from its owner for U.S. federal income tax purposes, the Person treated as its owner for U.S. federal income tax purposes) that is entitled under the Code or any applicable treaty to an exemption from or reduction of withholding tax with respect to payments hereunder or under any other Loan Document shall deliver to the Borrower 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 Lender or Issuing Lender becomes a Lender or Issuing Lender under this Agreement (and from time to time thereafter upon the request of the Borrower or the Administrative Agent, but only if such Foreign Lender or Issuing Lender (or, if such Foreign Lender or Issuing Lender is disregarded as an entity separate from its owner for U.S. federal income tax purposes, the Person treated as its owner for U.S. federal income tax purposes) is legally entitled to do so), 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;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp; executed originals of Internal Revenue Service Form W-8BEN or W-BEN-E, as applicable, claiming eligibility for benefits of an income tax treaty to which the United States is a party,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; executed originals of Internal Revenue Service 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;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;&nbsp;&nbsp;&nbsp; in the case of a Foreign Lender or non-U.S. Issuing Lender (or, if such Foreign Lender or Issuing Lender is disregarded as an entity separate from its owner for U.S. federal income tax purposes, the Person treated as its owner for U.S. federal income tax purposes) claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of <u>Exhibit H-1</u> to the effect that such Foreign Lender or Issuing Lender (or such other Person) is not (A) a "bank" within the meaning of Section 881(c)(3)(A) of the Code, (B) a "10 percent shareholder" of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or (C) a "controlled foreign corporation" described in Section 881(c)(3)(C) of the Code (a "**U.S. Tax Compliance Certificate**") and (y) executed originals of Internal Revenue Service Form W-8BEN or W-8BEN-E, as applicable,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;&nbsp;&nbsp;&nbsp; executed originals of Internal Revenue Service Form W-8IMY and all required supporting documentation, including 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 H-2</u> or <u>Exhibit H-3</u>, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; *provided* that if the Lender or Issuing Lender is a partnership and one or more direct or indirect partners of such Lender or Issuing Lender are claiming the portfolio interest exemption, such Lender or Issuing Lender may provide a U.S. Tax Compliance Certificate substantially in the form of <u>Exhibit H-4</u> on behalf of each such direct and indirect partner, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;&nbsp;&nbsp;&nbsp; executed originals of any other form prescribed by applicable laws as a basis for claiming exemption from or a reduction in U.S. federal withholding tax together with such supplementary documentation as may be prescribed by applicable laws to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C)&nbsp;&nbsp;&nbsp;&nbsp; each Lender and Issuing Lender shall deliver to the Administrative Agent and the Borrower such documentation reasonably requested by the Administrative Agent or the Borrower sufficient for the Administrative Agent and the Borrower to comply with their obligations under FATCA and to determine whether payments to such Lender or Issuing Lender are subject to withholding tax under FATCA. Solely for purposes of this <u>sub-clause</u> <u>(C)</u>, "FATCA" shall include any amendments made to FATCA after the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp; Each Lender and Issuing Lender shall promptly (A) notify the Borrower and the Administrative Agent of any change in circumstances which would modify or render invalid any claimed exemption or reduction, and (B) take such steps as shall not be materially disadvantageous to it, in the reasonable judgment of such Lender or Issuing Lender and as may be reasonably necessary (including the redesignation of its Lending Installation) to avoid any requirement of applicable laws of any jurisdiction that the Borrower or the Administrative Agent make any withholding or deduction for taxes from amounts payable to such Lender or Issuing Lender.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Treatment of Certain Refunds*. Unless required by applicable laws, at no time shall the Administrative Agent have any obligation to file for or otherwise pursue on behalf of a Lender or Issuing Lender, or have any obligation to pay to any Lender or Issuing Lender, any refund of Taxes withheld or deducted from funds paid for the account of such Lender or Issuing Lender. If the Administrative Agent or any Lender or Issuing Lender determines, in its sole discretion, that it has received a refund of any Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this <u>Section 3.05</u>, it shall pay to the Borrower an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this <u>Section 3.05</u> with respect to the Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses incurred by the Administrative Agent or such Lender, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), *provided* that the Borrower, upon the request of the Administrative Agent or such Lender, as the case may be, agrees to repay the amount paid over to the Borrower (*plus* any penalties, interest (to the extent accrued from the date such refund is paid over to the Borrower) or other charges imposed by the relevant Governmental Authority), to the Administrative Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this <u>clause (f)</u>, in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this <u>clause (f)</u> the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts giving rise to such refund had never been paid. This <u>clause (f)</u> shall not be construed to require the Administrative Agent or any Lender or Issuing Lender to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the Borrower or any other Person.

**Section 3.06**&nbsp;&nbsp;&nbsp;&nbsp; *Mitigation Obligations*. If any Lender requests compensation under <u>Section 3.01</u> or <u>Section 3.02</u>, or the Borrower is required to pay any additional amount to any Lender or Issuing Lender or any Governmental Authority for the account of any Lender or Issuing Lender pursuant to <u>Section 3.05</u>, or if any Lender gives a notice pursuant to <u>Section</u> <u>3.07(b)</u>, then such Lender or Issuing Lender shall use reasonable efforts to designate a different Lending Installation for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender or Issuing Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to <u>Section 3.01</u>, <u>3.02</u> or <u>3.05</u>, as the case may be, in the future, or eliminate the need for the notice pursuant to <u>Section</u> <u>3.07(b)</u>, as applicable, and (ii) in each case, would not subject such Lender or Issuing Lender, as the case may be, to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender or Issuing Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender or Issuing Lender in connection with any such designation or assignment.

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**Section 3.07**&nbsp;&nbsp;&nbsp;&nbsp; *Inability to Determine Rates; Replacing Benchmarks*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *<u>Circumstances Affecting Benchmark Availability</u>*. Subject to <u>clause (c)</u> below, in connection with any request for a SOFR Loan or a conversion to or continuation thereof, if (i) the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that reasonable and adequate means do not exist for ascertaining Term SOFR for the applicable Interest Period with respect to a proposed SOFR Loan on or prior to the first day of such Interest Period or (ii) the Required Lenders determine (which determination shall be conclusive and binding absent manifest error) that Term SOFR does not adequately and fairly reflect the cost to such Lenders of making or maintaining such Loans during such Interest Period and, in the case of <u>clause (ii)</u>, the Required Lenders have provided notice of such determination to the Administrative Agent, then, in each case, the Administrative Agent shall promptly give notice thereof to the Borrower. Upon notice thereof by the Administrative Agent to the Borrower, any obligation of the Lenders to make SOFR Loans, and any right of the Borrower to convert any Loan to or continue any Loan as a SOFR Loan, shall be suspended (to the extent of the affected SOFR Loans or the affected Interest Periods) until the Administrative Agent (with respect to <u>clause (ii)</u>, at the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, (A) the Borrower may revoke any pending request for a borrowing of, conversion to or continuation of SOFR Loans (to the extent of the affected SOFR Loans or the affected Interest Periods) or, failing that, the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Alternate Base Rate Loans in the amount specified therein and (B) any outstanding affected SOFR Loans will be deemed to have been converted into Alternate Base Rate Loans at the end of the applicable Interest Period. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted, together with any additional amounts required pursuant to <u>Section 3.04</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *<u>Laws Affecting SOFR Availability</u>*. If, after the date hereof, the introduction of, or any change in, any applicable law has made it unlawful or impossible, or any Governmental Authority has asserted that it is unlawful or impossible, for any of the Lenders (or any of their respective Lending Installations) to honor its obligations hereunder to make or maintain any SOFR Loan, or to determine or charge interest based upon SOFR, the Term SOFR Reference Rate or Term SOFR, such Lender shall promptly give notice thereof to the Administrative Agent and the Administrative Agent shall promptly give notice to the Borrower and the other Lenders (an "**Illegality Notice**"). Thereafter, until each affected Lender notifies the Administrative Agent and the Administrative Agent notifies the Borrower that the circumstances giving rise to such determination no longer exist, (i) any obligation of such Lender to make SOFR Loans, and any obligation of such Lender to convert any Loan to a SOFR Loan or continue any Loan as a SOFR Loan, shall be suspended and (ii) if necessary to avoid such illegality, the Administrative Agent shall compute the Alternate Base Rate without reference to <u>clause (c)</u> of the definition of "Alternate Base Rate". Upon receipt of an Illegality Notice, the Borrower shall, if necessary to avoid such illegality, upon demand from such Lender (with a copy to the Administrative Agent), prepay or convert all SOFR Loans to Alternate Base Rate Loans (in each case, if necessary to avoid such illegality, the Administrative Agent shall compute the Alternate Base Rate without reference to <u>clause (c)</u> of the definition of "Alternate Base Rate"), on the last day of the Interest Period therefor, if such affected Lenders may lawfully continue to maintain such SOFR Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such SOFR Loans to such day. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted, together with any additional amounts required pursuant to <u>Section 3.04</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *<u>Benchmark Replacement Setting</u>*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *<u>Benchmark Replacement</u>*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp; Notwithstanding anything to the contrary herein or in any other Loan Document, upon the occurrence of a Benchmark Transition Event, the Administrative Agent and the Borrower may amend this Agreement to replace the then-current Benchmark with a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent has posted such proposed amendment to all affected Lenders and the Borrower so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Lenders comprising the Required Lenders. No replacement of a Benchmark with a Benchmark Replacement pursuant to this <u>Section 3.07(c)(i)(A)</u> will occur prior to the applicable Benchmark Transition Start Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp; *<u>Benchmark Replacement Conforming Changes</u>*. In connection with the use, administration, adoption or implementation of a Benchmark Replacement, the Administrative Agent will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) *<u>Notices; Standards for Decisions and Determinations</u>*. The Administrative Agent will promptly notify the Borrower and the Lenders of (A) any occurrence of a Benchmark Transition Event, (B) the implementation of any Benchmark Replacement, (C) the effectiveness of any Conforming Changes in connection with the use, administration, adoption or implementation of a Benchmark Replacement, (D) the removal or reinstatement of any tenor of a Benchmark pursuant to <u>Section 3.07(c)(iv)</u> below and (E) the commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision or election that may be made by the Administrative Agent or, if applicable, any Lender (or group of Lenders) pursuant to this <u>Section 3.07(c)</u>, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Loan Document, except, in each case, as expressly required pursuant to this <u>Section 3.07(c)</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;(iv)&nbsp;&nbsp;&nbsp;&nbsp; *<u>Unavailability of Tenor of Benchmark</u>*. Notwithstanding anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation of a Benchmark Replacement), (A) if the then-current Benchmark is a term rate (including the Term SOFR Reference Rate) and either (1) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion or (2) the regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is not or will not be representative, then the Administrative Agent may modify the definition of "Interest Period" (or any similar or analogous definition) for any Benchmark settings at or after such time to remove such unavailable or non-representative tenor and (B) if a tenor that was removed pursuant to <u>clause (A)</u> above either (1) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (2) is not, or is no longer, subject to an announcement that it is not or will not be representative for a Benchmark (including a Benchmark Replacement), then the Administrative Agent may modify the definition of "Interest Period" (or any similar or analogous definition) for all Benchmark settings at or after such time to reinstate such previously removed tenor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp; *<u>Benchmark Unavailability Period</u>*. Upon the Borrower's receipt of notice of the commencement of a Benchmark Unavailability Period, (A) the Borrower may revoke any pending request for a borrowing of, conversion to or continuation of SOFR Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to Alternate Base Rate Loans and (B) any outstanding affected SOFR Loans will be deemed to have been converted to Alternate Base Rate Loans at the end of the applicable Interest Period. During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Alternate Base Rate.

**Section 3.08** *Survival*. All of the Borrower's obligations under this <u>Article 3</u> shall survive termination of the Aggregate Commitments, repayment of all other Obligations hereunder and resignation of the Administrative Agent.

ARTICLE 4

Conditions Precedent

**Section 4.01** *Effectiveness*. The occurrence of the Effective Date is subject to the satisfaction (or waiver) of only the following conditions precedent:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Administrative Agent (or its counsel) shall have received from (I) all Lenders hereunder as of the Effective Date, (II) the Administrative Agent, (III) each Issuing Lender and (IV) the Borrower either (i) a counterpart of this Agreement signed on behalf of such party or (ii) customary written evidence reasonably satisfactory to the Administrative Agent (which may include telecopy or electronic transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; at least three (3) days prior to the Effective Date, the Borrower shall have provided the documentation and other information about the Borrower to the Administrative Agent that is required by bank regulatory authorities under applicable "know your customer" and anti-money laundering rules and regulations, including, without limitation, the U.S. Patriot Act and the Beneficial Ownership Regulation, to the extent such information was reasonably requested by the Arrangers or a Lender in writing at least ten (10) Business Days prior to the Effective Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp; the Borrower shall have delivered to the Administrative Agent an officer's certificate, substantially in the form attached hereto as <u>Exhibit G</u>, dated as of the Effective Date, signed by an Authorized Officer of the Borrower, certifying that (x) on the Effective Date, no Default or Unmatured Default has occurred and is continuing and (y) the representations and warranties contained in <u>Article 5</u> (other than the representations and warranties set forth in <u>Sections 5.14</u> and <u>5.15</u>) are true and correct in all material respects (except to the extent such representations and warranties are qualified by "materiality" or "Material Adverse Effect" or similar terms, in which case such representations and warranties are true and correct in all respects) as of the Effective Date, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct in all material respects (except to the extent such representations and warranties are qualified with "materiality" or "Material Adverse Effect" or similar terms, in which case such representations and warranties shall have been true and correct in all respects) on and as of such earlier date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; the Borrower shall have delivered to the Administrative Agent a favorable written opinion (addressed to the Administrative Agent and the Lenders and dated the Effective Date) of Wachtell, Lipton, Rosen & Katz reasonably acceptable to the Administrative Agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp; each Note requested from the Borrower in writing at least five (5) Business Days prior to the Effective Date by any Lender pursuant to <u>Section 2.13</u> shall have been executed by the Borrower;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Borrower shall have paid all fees, costs and expenses due and payable to the Administrative Agent, for itself and on behalf of the Lenders, or its counsel on the Effective Date and (in the case of expenses) for which the Borrower has received an invoice at least three (3) Business Days prior to the Effective Date (*provided* that such invoice may reflect an estimate and/or only costs processed to date and shall not thereafter preclude a final settling of accounts between the Borrower and the Administrative Agent, including with respect to fees, costs or expenses incurred prior to the Effective Date);

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Borrower shall have delivered to the Administrative Agent copies of the certificate of incorporation of the Borrower, together with all amendments thereto, and a certificate of good standing for the Borrower, each certified by the appropriate governmental officer in its jurisdiction of incorporation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp; the Borrower shall have delivered to the Administrative Agent copies, certified by the Secretary or Assistant Secretary of the Borrower, of the Borrower's by-laws and of its Board of Directors' resolutions and of resolutions or actions of any other body authorizing the execution of the Loan Documents to which it is a party and a certification that there have been no changes to its certificate of incorporation provided pursuant to <u>Section 4.01(g)</u>; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp; prior to or substantially concurrently with the Effective Date, all commitments under the Existing Credit Agreement shall have been or will be terminated and the obligations (except for contingent obligations and obligations in respect of any outstanding letters of credit) due or outstanding thereunder have been or will be repaid in full to the Persons to whom such amounts are owed thereunder, and all commitments to extend credit thereunder shall have been or will be terminated.

The occurrence of the Effective Date shall be confirmed by a written notice from the Administrative Agent to the Borrower on the Effective Date, and shall be conclusive evidence of the occurrence thereof.

**Section 4.02**&nbsp;&nbsp;&nbsp;&nbsp; *Each Request for Credit Extension (other than the Certain Funds Advance)*. The Lenders shall not be required to honor any Request for Credit Extension (excluding the Certain Funds Advance), unless on the applicable Borrowing Date:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; no Default or Unmatured Default has occurred and is continuing or would result from such Request for Credit Extension;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; each of the representations and warranties set forth in <u>Article 5</u> (other than the representations and warranties set forth in <u>Sections 5.05</u>, <u>5.07</u>, <u>5.14</u> and <u>5.15</u>) are true and correct in all material respects (except to the extent such representations and warranties are qualified with "materiality" or "Material Adverse Effect" or similar terms, in which case such representations and warranties are true and correct in all respects) as of such Borrowing Date, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct in all material respects (except to the extent such representations and warranties are qualified with "materiality" or "Material Adverse Effect" or similar terms, in which case such representations and warranties shall have been true and correct in all respects) on and as of such earlier date; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Borrower shall have delivered a Request for Credit Extension.

Each Request for Credit Extension shall constitute a representation and warranty by the Borrower that the applicable conditions contained in <u>Section 4.02(a)</u> and <u>(b)</u> above have been satisfied as of the applicable Borrowing Date.

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**Section 4.03** *Certain Funds Advance*. The obligation of each Lender to fund the Certain Funds Advance on the Foxtrot Closing Date is subject only to the satisfaction of the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Substantially concurrently with the making of the Certain Funds Advance, the Foxtrot Acquisition shall have been consummated in all material respects in accordance with the Foxtrot Acquisition Agreement without giving effect to any amendment, modification or waiver or consent by the Borrower thereunder, in each case, that is materially adverse to the Lenders, in their capacities as such, without the prior written consent of the Arrangers (such consent not to be unreasonably withheld, delayed or conditioned; *provided* that each Arranger shall be deemed to have consented to any such amendment, modification, waiver or consent unless it shall object thereto by written notice to the Borrower within five (5) Business Days after having received notice thereof), it being understood and agreed that (i) any increase or decrease in the acquisition consideration under the Foxtrot Acquisition Agreement in accordance with the terms of the Foxtrot Acquisition Agreement as of May 15, 2025, (ii) any other decrease in the acquisition consideration under the Foxtrot Acquisition Agreement since May 15, 2025 which does not exceed ten percent (10%) of the Merger Consideration (as defined in the Foxtrot Acquisition Agreement in effect as of May 15, 2025) that is accompanied by a dollar-for-dollar reduction in commitments in respect of the Bridge Facility, and (iii) any other increase in the cash portion of the acquisition consideration since May 15, 2025 which does not exceed ten percent (10%) of the Merger Consideration, in each case shall be deemed not to be materially adverse to the Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp; Prior to or substantially concurrently with the making of the Certain Funds Advance, all principal, interest and fees due under the Foot Locker Credit Agreement shall have been paid and all commitments thereunder shall have been terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp; The Borrower shall have delivered to the Administrative Agent a Borrowing Notice for the Certain Funds Advance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; The Foxtrot Acquisition Agreement Representations and the Specified Representations shall be true and correct in all material respects (except to the extent such representations and warranties are qualified with "materiality" or "Material Adverse Effect" or similar terms, in which case such representations and warranties are true and correct in all respects) as of the Foxtrot Closing Date, except to the extent any such representation or warranty is stated to relate solely to an earlier date, in which case such representation or warranty shall have been true and correct in all material respects (except to the extent such representations and warranties are qualified with "materiality" or "Material Adverse Effect" or similar terms, in which case such representations and warranties shall have been true and correct in all respects) on and as of such earlier date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp; Since May 15, 2025, no Foxtrot Material Adverse Effect shall have occurred that is continuing on the Foxtrot Closing Date.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp; As of the Foxtrot Closing Date, no Default exists and is continuing under <u>Section 7.02</u> or <u>Section 7.05</u> (with respect to the Borrower only) or <u>Section 7.06</u> (with respect to the Borrower only).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The Administrative Agent (or its counsel) shall have received a certificate from the Borrower's chief financial officer, chief accounting officer or treasurer regarding the solvency of the Borrower and its subsidiaries on a consolidated basis on the Foxtrot Closing Date after giving effect to the Foxtrot Transactions in the form attached as <u>Exhibit I</u> hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp; The Administrative Agent (or its counsel) shall have received an officer's certificate, dated as of the Foxtrot Closing Date, signed by an Authorized Officer of the Borrower, certifying that on the Foxtrot Closing Date, the condition set forth above in <u>Section 4.03(d)</u> has been satisfied.

**Section 4.04**&nbsp;&nbsp;&nbsp;&nbsp; *Actions Between the Effective Date and the Foxtrot Closing Date*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) During the Certain Funds Period, and notwithstanding (i) that any representation made in this Agreement or any other Loan Document (excluding the Specified Representations and/or Foxtrot Acquisition Agreement Representations made on the Foxtrot Closing Date as a condition to the making of the Certain Funds Advance) was incorrect, (ii) any failure by the Borrower or its Subsidiaries to comply with the affirmative covenants, negative covenants, financial covenant in, or other terms of, this Agreement or the other Loan Documents or the existence of a Default or Unmatured Default, (iii) any provision to the contrary in this Agreement or any other Loan Document or otherwise or (iv) that any condition to the occurrence of the Effective Date may subsequently be determined not to have been satisfied, neither the Administrative Agent nor any Lender shall be entitled to (1) cancel any of its Certain Funds Commitments, (2) rescind, terminate or cancel the Loan Documents or its Certain Funds Commitments or exercise any right or remedy or make or enforce any claim under the Loan Documents it may otherwise have to the extent to do so would prevent, limit or delay the making of its Loan constituting a portion of the Certain Funds Advance on the Foxtrot Closing Date, (3) refuse to participate in making its Loan constituting a portion of the Certain Funds Advance on the Foxtrot Closing Date, *provided* that the applicable conditions set forth in <u>Section 4.03</u> of this Agreement have been satisfied or waived or (4) exercise any right of set-off or counterclaim in respect of its Loan to the extent to do so would prevent, limit or delay the making of its Loan constituting a portion of the Certain Funds Advance on the Foxtrot Closing Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For the avoidance of doubt, (i) the rights and entitlements of the Lenders and the Administrative Agent to refuse to participate in making a Loan constituting a Certain Funds Advance on the Foxtrot Closing Date shall not be limited in the event that any applicable condition set forth in <u>Section 4.03</u> is not satisfied or waived on the Foxtrot Closing Date (with respect to the making of Loans constituting a portion of the Certain Funds Advance) and (ii) immediately after the expiration of the Certain Funds Period, all of the rights, remedies and entitlements of the Administrative Agent and the Lenders shall be available notwithstanding that such rights were not available prior to such time as a result of the foregoing.

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ARTICLE 5

Representations and Warranties

The Borrower represents and warrants as follows to each Lender and the Agents (x) other than <u>Sections 5.14</u> and <u>5.15</u>, as of the Effective Date, (y) other than <u>Sections 5.05</u>, <u>5.07</u>, <u>5.14</u> and <u>5.15</u> on each date as required by <u>Section 4.02</u> and (y) other than <u>Sections 5.05</u> and <u>5.07</u>, as of the date that the Certain Funds Advance is made pursuant to <u>Section 4.03</u>:

**Section 5.01** *Existence and Standing*. The Borrower (a) is a corporation, partnership, limited liability company or other entity duly and properly incorporated or organized, as the case may be, validly existing and (to the extent such concept applies to such entity) in good standing under the laws of its jurisdiction of incorporation or organization and (b) has all requisite authority to conduct its business in each jurisdiction in which its business is conducted, except to the extent that the failure to have such authority would not reasonably be expected to have a Material Adverse Effect.

**Section 5.02** *Authorization and Validity*. The Borrower has the power and authority and legal right to execute and deliver the Loan Documents and to perform its obligations thereunder. The execution and delivery by the Borrower of the Loan Documents and the performance of its obligations thereunder have been duly authorized by proper proceedings, and the Loan Documents constitute legal, valid and binding obligations of the Borrower enforceable against it in accordance with their terms, except as may be limited by bankruptcy, insolvency or similar laws relating to or affecting creditors' rights generally and by general principles of equity, regardless of whether considered in a proceeding in equity or at law.

**Section 5.03**&nbsp;&nbsp;&nbsp;&nbsp; *No Conflict; Government Consent*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Neither the execution and delivery by the Borrower of the Loan Documents, nor the consummation of the transactions therein contemplated, nor compliance with the provisions thereof will violate (i) any law, rule, regulation, order, writ, judgment, injunction, decree or award binding on the Borrower, (ii) the Borrower's bylaws, articles or certificate of incorporation, partnership agreement, certificate of partnership, operating agreement or other management agreement, articles or certificate of organization or other similar formation, organizational or governing documents, instruments and agreements, as the case may be, or (iii) the provisions of any indenture, instrument or agreement to which the Borrower is a party or is subject, or by which it, or its Property, is bound, except in the case of <u>clauses</u> <u>(i)</u> and <u>(iii)</u> above where such violation would not reasonably be expected to have a Material Adverse Effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) No order, consent, adjudication, approval, license, authorization, or validation of, or filing, recording or registration with, or exemption by, or other action in respect of any governmental or public body or authority, or any subdivision thereof, which has not been obtained by the Borrower, is required to be obtained by the Borrower in connection with the execution and delivery of the Loan Documents, the borrowings under the Loan Documents, the payment and performance by the Borrower of its Obligations or the legality, validity, binding effect or enforceability of the Loan Documents.

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**Section 5.04**&nbsp;&nbsp;&nbsp;&nbsp; *Financial Statements*. The February 1, 2025 audited consolidated financial statements of the Borrower, and, if applicable, the unaudited consolidated financial statements of the Borrower as of the last day of any subsequent fiscal quarter (other than the fourth fiscal quarter of any fiscal year), in each case delivered prior to the Effective Date to the Arrangers and the Lenders, copies of which are included in the Borrower's Annual Report on Form 10-K and the Borrower's quarterly report on Form 10-Q for such periods, respectively, (a) were prepared in accordance with GAAP (except as otherwise expressly noted therein), (b) fairly present in all material respects the consolidated financial condition and operations of the Borrower and its Subsidiaries at such date and the consolidated results of their operations and cash flows for the period then ended (subject, in the case of unaudited quarterly reports, to the absence of footnotes and to normal year-end audit adjustments) and (c) show all material indebtedness and other liabilities, direct or contingent, of the Borrower and its Subsidiaries as of the date thereof that are required under Agreement Accounting Principles to be reflected thereon.

**Section 5.05** *Material Adverse Effect*. As of the Effective Date, except as disclosed in the Borrower SEC Report (excluding any disclosures set forth in any risk factor section and in any section relating to forward-looking or safe harbor statements) since February 1, 2025, there has been no material adverse effect on the financial condition, results of operations, business or Property of the Borrower and its Subsidiaries taken as a whole.

**Section 5.06**&nbsp;&nbsp;&nbsp;&nbsp; [*Reserved*]

**Section 5.07** *Litigation*. As of the Effective Date, there is no litigation, arbitration, governmental investigation, proceeding or inquiry pending or, to the knowledge of any of their officers, threatened against or affecting the Borrower or any of its Subsidiaries which has not been disclosed in the Borrower SEC Report (a) that would reasonably be expected to have a Material Adverse Effect or (b) which seeks to prevent, enjoin or delay the making of any Loan or otherwise calls into question the validity of any Loan Document and as to which there is a reasonable possibility of an adverse decision.

**Section 5.08** *Disclosure.* All written information other than financial projections and other forward-looking information and information of a general economic or industry nature (as used in this <u>Section 5.08</u>, the "**Information**") provided on or prior to the Effective Date by the Borrower or on behalf of the Borrower by its representatives to the Agents or the Lenders in connection with the negotiation of this Agreement does not, when taken as a whole, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein, when taken as a whole, not materially misleading when taken as a whole and in light of the circumstances under which such statements were made (giving effect to any supplements then or theretofore furnished).

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**Section 5.09**&nbsp;&nbsp;&nbsp;&nbsp; *Regulation U*. The Borrower is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate of buying or carrying margin stock (within the meaning of Regulation U or Regulation X); and after applying the proceeds of each Advance, margin stock (as defined in Regulation U) constitutes not more than twenty-five percent (25%) of the value of those assets of the Borrower which are subject to any limitation on sale or pledge, or any other restriction hereunder.

**Section 5.10**&nbsp;&nbsp;&nbsp;&nbsp; *Investment Company Act*. The Borrower is not an "investment company", a company "controlled by" an "investment company" or a company required to register as an "investment company," each as defined in the Investment Company Act of 1940, as amended.

**Section 5.11**&nbsp;&nbsp;&nbsp;&nbsp; *OFAC, FCPA*. Neither the Borrower nor any of its Subsidiaries, nor, to the knowledge of the Borrower, any director or officer thereof, is an individual or entity that is (a) the subject or target of any Sanctions or in violation of applicable Anti-Corruption Laws, (b) included on OFAC's List of Specially Designated Nationals, HMT's Consolidated List of Financial Sanctions Targets and the Investment Ban List, or any similar list enforced by the United States federal government (including, without limitation, OFAC or the U.S. Department of State), the European Union or His Majesty's Treasury or (c) located, organized or resident in a Designated Jurisdiction.

**Section 5.12**&nbsp;&nbsp;&nbsp;&nbsp; *Taxes*. Each of Borrower and its 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, except (a) Taxes that are being contested in good faith by appropriate proceedings and for which reserves have been provided in accordance with GAAP or (b) to the extent that the failure to do so would not reasonably be expected to result in a Material Adverse Effect.

**Section 5.13**&nbsp;&nbsp;&nbsp;&nbsp; *Affected Financial Institution*. The Borrower is not an Affected Financial Institution.

**Section 5.14** *Solvency as of the Foxtrot Closing Date*. On the date of the Borrowing of the Certain Funds Advance (if any), the Borrower and its Subsidiaries, on a consolidated basis, are Solvent.

**Section 5.15**&nbsp;&nbsp;&nbsp;&nbsp; *Use of Proceeds for Certain Funds Advance*. The Borrower will not, directly or, to its knowledge, indirectly, use any part of the proceeds of the Certain Funds Advance in violation of (i) any Anti-Corruption Laws, (ii) applicable Sanctions or (iii) the U.S. Patriot Act.

ARTICLE 6

Covenants

From the Effective Date, so long as any Lender shall have any Commitment hereunder, or any Loan or other Obligation hereunder (other than any contingent indemnification obligations for which no claim has been made) shall remain unpaid or unsatisfied or (except to the extent agreed by the Issuing Lender that has issued such Letter of Credit or to the extent such Letter of Credit has been Cash Collateralized) any Letter of Credit shall remain outstanding:

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**Section 6.01**&nbsp;&nbsp;&nbsp;&nbsp; *Financial Reporting*. The Borrower will maintain, for itself and each Subsidiary, a system of accounting established and administered in accordance with GAAP, and furnish to the Administrative Agent for the Administrative Agent's distribution to the Lenders:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As soon as available, but in any event on or prior to the 90th day after the close of each of its fiscal years (commencing with the first fiscal year of the Borrower ending after the Effective Date), a consolidated balance sheet as of the end of such period, related statements of operations, comprehensive income (loss), changes in equity and cash flows prepared in accordance with GAAP on a consolidated basis for itself and its Subsidiaries, together with an audit report certified by independent certified public accountants of recognized standing, whose opinion shall not be qualified as to the scope of the audit or as to the status of the Borrower and its consolidated Subsidiaries as a going concern.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As soon as available, but in any event on or prior to the 45th day after the close of the first three (3) quarterly periods of each of its fiscal years (commencing with the first such fiscal quarter of the Borrower ending after the Effective Date), for itself and its Subsidiaries, a consolidated (or, at the Borrower's option and to the extent filed (or to be filed) with the SEC in its quarterly report on Form 10-Q, condensed consolidated) unaudited balance sheet as at the close of each such period and consolidated unaudited statements of operations, comprehensive income (loss) and cash flows for the period from the beginning of such fiscal year to the end of such quarter, all certified by its chief financial officer, chief accounting officer or treasurer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp; Together with the financial statements required under <u>Sections</u> <u>6.01(a)</u> and <u>(b)</u>, a compliance certificate in substantially the form of <u>Exhibit A</u> signed by its chief financial officer, chief accounting officer or treasurer showing the calculations necessary to determine compliance with the financial covenant set forth in <u>Section 6.12</u> and stating that no Default or Unmatured Default exists, or if any Default or Unmatured Default exists, stating the nature and status thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; Promptly upon the filing thereof, copies of all registration statements or other regular reports not otherwise provided pursuant to this <u>Section 6.01</u> which the Borrower or any of its Subsidiaries files with the SEC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp; Such other information with respect to the business, condition or operations, financial or otherwise, and Properties of the Borrower and its Subsidiaries as the Administrative Agent, including at the request of any Lender, may from time to time reasonably request.

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Documents required to be delivered pursuant to <u>Section 6.01(a)</u>, <u>(b)</u> or <u>(d)</u> may be delivered electronically and, if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower's website or such other website with respect to which the Borrower may from time to time notify the Administrative Agent and to which the Lenders have access; or (ii) on which such documents are posted on the Borrower's behalf by the Administrative Agent on DebtDomain, SyndTrak or another relevant website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent) or filed electronically through EDGAR and available on the Internet at www.sec.gov. The Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request for delivery.

The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arrangers will make available to the Lenders materials and/or information provided by or on behalf of the Borrower hereunder (collectively, "**Borrower Materials**") by posting the Borrower Materials on DebtDomain, SyndTrak or another similar electronic system (the "**Platform**") and (b) certain of the Lenders (each a "**Public Lender**") may have personnel who do not wish to receive material non-public information with respect to the Borrower or its Affiliates, 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. The Borrower hereby agrees that (w) all Borrower Materials that are to be made available to Public Lenders 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 Borrower Materials "PUBLIC," the Borrower shall be deemed to have authorized the Administrative Agent, the Arrangers and the Lenders to treat such Borrower Materials as not containing any material non-public information with respect to the Borrower or its securities for purposes of United States Federal and state securities laws (*provided*, *however*, that to the extent such Borrower Materials constitute Information, they shall be treated as set forth in <u>Section 9.10</u>); (y) all Borrower 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 Arrangers shall be entitled to treat any Borrower Materials that are not marked "PUBLIC" as being suitable only for posting on a portion of the Platform that is not designated "Public Side Information."

**Section 6.02** *Use of Proceeds*. The Borrower will, and will cause each of its Subsidiaries to, use the proceeds of the Advances for general corporate purposes (which may include, without limitation, to finance (x) Foxtrot Transactions (including the Foxtrot Acquisition) and (y) the consideration for and fees, costs and expenses related to any other Acquisition). The Borrower shall use the proceeds of the Advances in compliance with all applicable legal and regulatory requirements and any such use shall not result in a violation of any such requirements, including, without limitation, Regulation U and Regulation X, the Securities Act of 1933 and the Securities Exchange Act of 1934 and the regulations promulgated thereunder. The Borrower will use the proceeds of the Certain Funds Advance solely for Certain Funds Purposes.

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**Section 6.03** *Notice of Default*. The Borrower will give prompt notice in writing to the Lenders of the occurrence of any Default or Unmatured Default.

**Section 6.04**&nbsp;&nbsp;&nbsp;&nbsp; *Conduct of Business*. The Borrower will, and will cause each of its Subsidiaries to, except as otherwise permitted by <u>Section 6.09</u>, do all things necessary to remain duly incorporated or organized, validly existing and (to the extent such concept applies to such entity) in good standing as a corporation, partnership, limited liability company or other entity in its jurisdiction of incorporation or organization, as the case may be, and maintain all requisite authority to conduct its business in each jurisdiction in which its business is conducted, except in each case (other than valid existence of the Borrower) where the failure to do so would not reasonably be expected to have a Material Adverse Effect.

**Section 6.05** *Compliance with Laws*. The Borrower will, and will cause each of its Subsidiaries to, comply in all material respects with all applicable laws, rules, regulations and orders (such compliance to include, without limitation, compliance with ERISA and Environmental Laws and paying before the same become delinquent all Taxes, assessments and governmental charges imposed upon it or upon its property except to the extent contested in good faith), except to the extent such noncompliance would not have a Material Adverse Effect.

**Section 6.06**&nbsp;&nbsp;&nbsp;&nbsp; *Inspection; Keeping of Books and Records*. Subject to applicable law and third party confidentiality agreements entered into by the Borrower or any Subsidiary in the ordinary course of business, the Borrower will, and will cause each Subsidiary to, permit the Administrative Agent, during the continuance of a Default or Unmatured Default, by its representatives and agents, to inspect any of the Property, books and financial records of the Borrower and each Subsidiary, to examine and make copies of the books of accounts and other financial records of the Borrower and each Subsidiary, and to discuss the affairs, finances and accounts of the Borrower and each Subsidiary with their respective officers at such reasonable times and intervals as the Administrative Agent may designate but in all events upon reasonable prior notice to the Borrower. The Borrower shall keep and maintain, and cause each of its Subsidiaries to keep and maintain, in all material respects, proper books of record and account in which entries in conformity with GAAP shall be made of all dealings and transactions in relation to their respective businesses and activities.

**Section 6.07**&nbsp;&nbsp;&nbsp;&nbsp; *OFAC, FCPA*. The Borrower will maintain in effect and enforce policies and procedures designed to ensure compliance by the Borrower, its Subsidiaries and their respective directors, employees and agents with Anti-Corruption Laws and applicable Sanctions.

**Section 6.08**&nbsp;&nbsp;&nbsp;&nbsp; [*Reserved*]

**Section 6.09**&nbsp;&nbsp;&nbsp;&nbsp; *Merger*.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Borrower will not (x) merge into or consolidate with any other Person, (y) effect a Disposition to any other Person (other than its Subsidiaries) or (z) liquidate or dissolve, unless (i) the Person formed by such consolidation or into which the Borrower is merged or to whom such Disposition is made shall be a Person organized and existing under the laws of the United States of America, any State thereof or the District of Columbia and shall expressly assume pursuant to an instrument executed and delivered to the Administrative Agent, and in form and substance reasonably satisfactory to the Administrative Agent, the Borrower's obligations for the due and punctual payment of the Obligations and the performance of every covenant of this Agreement on the part of the Borrower to be performed; and (ii) immediately after giving effect to such transaction, no Default or Unmatured Default shall have occurred and be continuing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; Upon any consolidation by the Borrower with, merger by the Borrower into or Disposition by the Borrower to any other Person (other than its Subsidiaries), the successor Person formed by such consolidation, into which the Borrower is merged or to whom such Disposition is made shall succeed to, and be substituted for, and may exercise every right and power of, the Borrower under this Agreement with the same effect as if such successor Person had been named as the Borrower herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) For the avoidance of doubt, the only merger or consolidation as to which <u>Section 6.09(a)(x)</u> shall apply shall be a merger or consolidation in which the Borrower is not the surviving Person.

Notwithstanding anything herein to the contrary, nothing in this <u>Section 6.09</u> or otherwise in this Agreement or any other Loan Document shall prohibit or restrict the consummation of the Foxtrot Transactions.

**Section 6.10** *Non-Guarantor Subsidiary Indebtedness.* The Borrower will not permit any Subsidiary which is not a Guarantor to create, incur, assume or suffer to exist any Specified Indebtedness for Borrowed Money, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Specified Indebtedness for Borrowed Money pursuant to any Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; (i) Specified Indebtedness for Borrowed Money existing on the Effective Date and, to the extent any such Specified Indebtedness for Borrowed Money exceeds $50,000,000 in principal amount, set forth on <u>Schedule 6.10</u> and (ii) any Permitted Refinancing of any Specified Indebtedness for Borrowed Money specified in <u>clause (i)</u> above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Specified Indebtedness for Borrowed Money owed to the Borrower or any other Subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; (i) Specified Indebtedness for Borrowed Money of a Person existing at the time such Person is acquired by or merged into or consolidated with the Borrower or any Subsidiary, at the time such Person first becomes a Subsidiary or at the time of a sale, lease or other disposition of all or substantially all of the Properties or assets of a Person to the Borrower or any Subsidiary; *provided* that, such Specified Indebtedness for Borrowed Money was not incurred in anticipation of such acquisition, consolidation, sale, lease or other disposition; and (ii) any Permitted Refinancing of any Specified Indebtedness for Borrowed Money specified in <u>clause (i)</u> above.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) (i) other Specified Indebtedness for Borrowed Money; *provided* that at the time of creation, incurrence or assumption of any Specified Indebtedness for Borrowed Money, the aggregate outstanding principal amount of Specified Indebtedness for Borrowed Money created, incurred or assumed pursuant to this <u>clause (e)</u> does not exceed the greater of (x) $800,000,000 (or after the Foxtrot Closing Date, $1,000,000,000) and (y) ten percent (10%) of Consolidated Net Tangible Assets and (ii) any Permitted Refinancing of any Specified Indebtedness for Borrowed Money specified in <u>sub-clause (i)</u> above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp; (i) Specified Indebtedness for Borrowed Money incurred to finance the payment of all or any part of the cost of acquisition, construction, development or improvement of any fixed or capital assets; *provided* that the commitment of the creditor to provide such Indebtedness for Borrowed Money shall have been obtained not later than twelve (12) months after the completion of the acquisition, construction, development or improvement of such assets; and (ii) any Permitted Refinancing of any Specified Indebtedness for Borrowed Money specified in <u>sub-clause (i)</u> above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp; guarantees of any Specified Indebtedness for Borrowed Money of any non-Guarantor Subsidiary that is otherwise permitted under this <u>Section 6.10</u>.

**Section 6.11**&nbsp;&nbsp;&nbsp;&nbsp; *Liens*. The Borrower will not, and will not permit any Major Subsidiary to, create or suffer to exist any Lien in or on any of its Property, in each case to secure or provide for the payment of any Indebtedness for Borrowed Money, except:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; precautionary Liens provided by the Borrower or any Major Subsidiary in connection with the sale, assignment, transfer or other disposition of assets by the Borrower or any Major Subsidiary which transaction is determined by the Board of Directors of the Borrower or such Major Subsidiary to constitute a "sale" under accounting principles generally accepted in the United States.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Liens existing on the Effective Date securing Indebtedness for Borrowed Money.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; usual and customary deposits in favor of lessors and similar deposits in the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; Liens existing on Property of any Person acquired by the Borrower or any Major Subsidiary (which may include Property previously leased by the Borrower or any of its Subsidiaries and leasehold interests on such Property, *provided* that the lease terminates prior to or upon the acquisition), other than any such Lien or security interest created in contemplation of such acquisition (and the replacement, extension or renewal thereof upon or in the same Property).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp; Liens on Property of a Person existing at the time such Person is merged into or consolidated with the Borrower or any Subsidiary, at the time such Person first becomes a Subsidiary or at the time of a sale, lease or other disposition of all or substantially all of the Properties or assets of a Person to the Borrower or any Subsidiary, *provided* that such Lien was not incurred in anticipation of the merger, consolidation, sale, lease or other disposition.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Liens in favor of the Borrower or any of its Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp; Liens on fixed or capital assets (including real property) to secure the payment of all or any part of the cost of acquisition, construction, development or improvement of such assets, or to secure Indebtedness for Borrowed Money incurred to provide funds for any such purpose; *provided* that (i) the commitment of the creditor to extend the credit secured by any such Lien shall have been obtained not later than twelve (12) months after the completion of the acquisition, construction, development or improvement of such assets, (ii) at the time of creation thereof, the aggregate outstanding principal amount of any such Indebtedness for Borrowed Money secured by such Lien does not exceed the greater of (x) $350,000,000 (or after the Foxtrot Closing Date, $500,000,000) and (y) three percent (3%) of Consolidated Assets at such time, and (iii) such Lien shall not apply to any other Property of the Borrower or any Subsidiary, except for accessions and improvements to such fixed or capital assets covered by such Lien and the proceeds and products thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&nbsp;&nbsp; Liens on cash and securities (and deposit and securities accounts) securing reimbursement obligations in respect of letters of credit and banker's acceptances issued for the account of the Borrower or any of its Subsidiaries in the ordinary course of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) &nbsp;&nbsp;&nbsp;&nbsp; Liens securing Indebtedness for Borrowed Money; *provided* that, at the time of incurrence of any such Indebtedness for Borrowed Money, the aggregate outstanding principal amount of Indebtedness for Borrowed Money secured pursuant to this <u>clause (i)</u> does not exceed the greater of (x) $800,000,000 (or after the Foxtrot Closing Date, $1,000,000,000) and (y) ten percent (10%) of Consolidated Net Tangible Assets at such time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;&nbsp;&nbsp;&nbsp; any extension, renewal or replacement (or successive extensions, renewals or replacements), as a whole or in part, of any Liens (or Indebtedness for Borrowed Money secured by Liens) referred to in <u>clauses (a)</u> through <u>(i)</u> and <u>(k)</u> of this <u>Section 6.11</u>, inclusive, *provided* that such extension, renewal or replacement Lien shall be limited to all or a part of the same Property that secured the Lien extended, renewed or replaced (*plus* improvements on and accessions to such Property), and (ii) the Indebtedness for Borrowed Money secured by such Lien at such time is not increased (other than by an amount equal to any related financing costs (including, but not limited to, the accrued interest and premium, if any, on the Indebtedness for Borrowed Money being refinanced)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;&nbsp;&nbsp;&nbsp; Liens created in substitution of any Liens permitted by <u>clauses (a)</u> through <u>(j)</u> above, inclusive, *provided* that, (i) based on a good faith determination of a senior officer of the Borrower, the property encumbered by such substitute or replacement Lien is substantially similar in nature to the property encumbered by the otherwise permitted Lien that is being replaced, and (ii) the Indebtedness for Borrowed Money secured by such Lien at such time is not increased (other than by an amount equal to any related financing costs (including, but not limited to, the accrued interest and premium, if any, on the Indebtedness for Borrowed Money being refinanced)).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;&nbsp;&nbsp;&nbsp; Liens arising out of any Permitted Sale Lease-Back Transaction, so long as such Liens attach only to the property or assets sold and being leased in such transaction and any accessions and additions thereto or proceeds and products thereof and related property or assets.

If a Subsidiary incurs a Lien in or on any of its Property to secure or provide for the payment of any Indebtedness for Borrowed Money at the time that it is not a Major Subsidiary, the incurrence and existence of such Lien shall not be prohibited or restricted by, and shall not reduce availability under any clause of, this <u>Section 6.11</u> upon such Subsidiary subsequently becoming a Major Subsidiary unless such Lien was incurred in contemplation of such Subsidiary becoming a Major Subsidiary.

**Section 6.12**&nbsp;&nbsp;&nbsp;&nbsp; *Financial Covenant*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of the last day of each fiscal quarter of the Borrower commencing on the last day of the first full fiscal quarter ending after the Effective Date, the Consolidated Leverage Ratio shall not be greater than 3.75:1.00; *provided* that such maximum Consolidated Leverage Ratio shall be increased to 4.25:1.00 from (and including) the Foxtrot Closing Date through (and including) the last day of the fourth (4th) full fiscal quarter of the Borrower following the Foxtrot Closing Date; *provided*, *further*, that, at the election of the Borrower, exercised by written notice delivered by the Borrower to the Administrative Agent at any time prior to the date that is thirty (30) days following consummation of any Material Acquisition (other than the Foxtrot Acquisition) by the Borrower or any Subsidiary, such maximum Consolidated Leverage Ratio shall be increased to 4.25:1.00 from (and including) the date of consummation of such Material Acquisition through (and including) the last day of the fourth (4th) full fiscal quarter following the consummation of such Material Acquisition; *provided*, *further*, that, notwithstanding the foregoing, in no event shall the Consolidated Leverage Ratio of the Borrower exceed 3.75 to 1.00 for more than five (5) consecutive fiscal quarters.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; At any time after the definitive agreement for any Material Acquisition shall have been executed (or, in the case of a Material Acquisition in the form of a tender offer or similar transaction, after the offer shall have been launched) and prior to the consummation of such Material Acquisition (or termination of the definitive documentation in respect thereof (or such later date as such indebtedness ceases to constitute Acquisition Debt as set forth in the definition of "Acquisition Debt")), any Acquisition Debt (and the proceeds of such Acquisition Debt) shall be excluded from the definition of Consolidated Leverage Ratio.

**Section 6.13**&nbsp;&nbsp;&nbsp;&nbsp; *OFAC, FCPA.* Neither the Borrower nor any of its Subsidiaries will directly, or to the Borrower's knowledge, indirectly, use the proceeds of any Advance or Letter of Credit (a) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (b) to fund any activities of or business with any individual or entity, or in any Designated Jurisdiction, that, at the time of such funding, is the subject or target of Sanctions in each case of this <u>clause (b)</u> in violation of applicable Sanctions or (c) in any other manner that will result in a violation of Sanctions applicable to any party hereto.

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**Section 6.14**&nbsp;&nbsp;&nbsp;&nbsp; *Taxes.* The Borrower shall pay and discharge, and cause each of its Subsidiaries to pay and discharge, promptly when due all Tax liabilities before the same shall become delinquent or in default; *provided*, *however*, that such payment and discharge shall not be required (a) with respect to Taxes that are being contested in good faith by appropriate proceedings and for which reserves have been provided in accordance with GAAP or (b) to the extent that the failure to do so would not reasonably be expected to result in a Material Adverse Effect.

ARTICLE 7

Defaults

The occurrence of any one or more of the following events shall constitute a Default:

**Section 7.01** *Breach of Representations or Warranties*. Any representation or warranty made by the Borrower to the Lenders or the Administrative Agent under this Agreement, or any certificate or information delivered in connection with this Agreement, shall be false in any material respect when made or deemed made.

**Section 7.02**&nbsp;&nbsp;&nbsp;&nbsp; *Failure to Make Payments When Due*. Nonpayment of (a) principal of any Loan when due or the Borrower's obligation under <u>Section 2.03(f)</u> when due to reimburse an Issuing Lender the amount of each draft under a Letter of Credit paid by such Issuing Lender, or (b) interest upon any Loan, any Commitment Fee or other payment Obligations under any of the Loan Documents within five (5) Business Days after such interest, fee or other Obligation becomes due.

**Section 7.03** &nbsp;&nbsp;&nbsp;&nbsp; *Breach of Covenants*. The breach by the Borrower of (a) any of the terms or provisions of <u>Section 6.02</u>, <u>6.04</u> (with respect to the legal existence of the Borrower only), <u>6.09</u>, <u>6.10</u>, <u>6.11</u>, <u>6.12</u> or <u>6.13</u> or (b) any of the other terms or provisions of this Agreement which is not remedied within thirty (30) days after the Borrower knows of the occurrence thereof.

**Section 7.04**&nbsp;&nbsp;&nbsp;&nbsp; *Cross Default*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Borrower or any Major Subsidiary shall fail to pay any principal of or premium or interest on any Indebtedness for Borrowed Money which is outstanding in a principal amount of at least the Requisite Amount in the aggregate (but excluding indebtedness arising hereunder) of the Borrower or such Major Subsidiary (as the case may be) when the same becomes due and payable (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Indebtedness for Borrowed Money unless adequate provision for any such payment has been made in form and substance satisfactory to the Required Lenders.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any Indebtedness for Borrowed Money of the Borrower or any Major Subsidiary which is outstanding in a principal amount of at least the Requisite Amount in the aggregate shall be declared to be due and payable, or required to be prepaid (other than by a scheduled required prepayment), redeemed, purchased or defeased, or an offer to prepay, redeem, purchase or defease such Indebtedness for Borrowed Money shall be required to be made, in each case prior to the stated maturity thereof as a result of a breach by the Borrower or such Major Subsidiary (as the case may be) of the agreement or instrument relating to such Indebtedness for Borrowed Money and such failure shall continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Indebtedness for Borrowed Money unless adequate provision for the payment of such Indebtedness for Borrowed Money has been made in form and substance satisfactory to the Required Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Borrower or any of its Major Subsidiaries shall admit in writing its inability to pay its debts generally as they become due.

**Section 7.05** *Voluntary Bankruptcy; Appointment of Receiver; Etc.* The Borrower or any of its Major Subsidiaries shall (a) have an order for relief entered with respect to it under the Federal bankruptcy laws as now or hereafter in effect, (b) make an assignment for the benefit of creditors, (c) apply for, seek, consent to, or acquiesce in, the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for it or any Substantial Portion of its Property, (d) institute any proceeding seeking an order for relief under the Federal bankruptcy laws as now or hereafter in effect or seeking to adjudicate it bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors or fail to file an answer or other pleading denying the material allegations of any such proceeding filed against it, (e) take any corporate or partnership action to authorize or effect any of the foregoing actions set forth in this <u>Section 7.05</u>, or (f) fail to contest in good faith any appointment or proceeding described in <u>Section 7.06</u>.

**Section 7.06**&nbsp;&nbsp;&nbsp;&nbsp; *Involuntary Bankruptcy; Appointment of Receiver; Etc.*. Without the application, approval or consent of the Borrower or any of its Major Subsidiaries, a receiver, trustee, custodian, examiner, liquidator or similar official shall be appointed for the Borrower or any of its Major Subsidiaries or any Substantial Portion of its Property, or a proceeding described in <u>Section 7.05(d)</u> shall be instituted against the Borrower or any of its Major Subsidiaries, and such appointment continues undischarged, or such proceeding continues undismissed or unstayed, in each case, for a period of sixty (60) consecutive days.

**Section 7.07** *Judgments*. The Borrower or any of its Major Subsidiaries shall fail within sixty (60) days to pay, bond or otherwise discharge one or more judgments or orders for the payment of money (except to the extent covered by independent third party insurance and as to which the insurer has not disclaimed coverage) in excess of the Requisite Amount (or the equivalent thereof in currencies other than Dollars) in the aggregate, which judgment(s), in any such case, is/are not stayed on appeal or otherwise being appropriately contested in good faith.

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**Section 7.08** *Unfunded Liabilities*. (i) The aggregate Unfunded Liabilities of all Plans would reasonably be expected to result in a Material Adverse Effect pursuant to <u>clause (a)</u> of the definition thereof; (ii) the present value of the unfunded liabilities to provide the accrued benefits under all Foreign Pension Plans in the aggregate would reasonably be expected to result in a Material Adverse Effect pursuant to <u>clause (a)</u> of the definition thereof; or (iii) any Reportable Event shall occur in connection with any Plan and such Reportable Event would reasonably be expected to result in a Material Adverse Effect pursuant to <u>clause (a)</u> of the definition thereof.

**Section 7.09**&nbsp;&nbsp;&nbsp;&nbsp; *Change of Control.* A Change of Control shall have occurred.

**Section 7.10**&nbsp;&nbsp;&nbsp;&nbsp; *Other ERISA Liabilities*. The Borrower, any Subsidiary, or any other member of the Controlled Group shall have been notified by the sponsor of a Multiemployer Plan that it has incurred withdrawal liability or become obligated to make contributions to a Multiemployer Plan in an amount which, when aggregated with all other amounts required to be paid to Multiemployer Plans by the Borrower, any Subsidiary, or any other member of the Controlled Group as withdrawal liability or contributions (determined as of the date of such notification), would reasonably be expected to result in a Material Adverse Effect pursuant to <u>clause (a)</u> of the definition thereof.

**Section 7.11** &nbsp;&nbsp;&nbsp;&nbsp; *Invalidity of Loan Documents*. Any material provision of any Loan Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations (other than contingent indemnification obligations that survive the termination of this Agreement), ceases to be in full force and effect; or the Borrower contests in any manner the validity or enforceability of any Loan Document; or the Borrower denies that it has any or further liability or obligation under any Loan Document, or purports to revoke, terminate or rescind any Loan Document for any reason other than as expressly permitted hereunder or thereunder.

ARTICLE 8

Acceleration, Waivers, Amendments and Remedies

**Section 8.01**&nbsp;&nbsp;&nbsp;&nbsp; *Acceleration, Etc.*. Subject in each case to <u>Section 4.04</u>, if any Default described in <u>Section 7.05</u> or <u>7.06</u> occurs, the obligations of the Lenders to make Loans and the obligations of the Issuing Lenders to issue Letters of Credit hereunder shall automatically terminate and the Obligations of the Borrower shall immediately become due and payable, and the obligation of the Borrower to Cash Collateralize the L/C Obligations as required in <u>clause (ii)</u> below shall automatically become effective, in each case without any election or action on the part of the Administrative Agent or any Lender or Issuing Lender. Subject in each case to <u>Section 4.04</u>, if any other Default occurs, the Required Lenders (or the Administrative Agent with the consent of the Required Lenders) may (i) terminate or suspend (in whole or in part) the obligations of the Lenders to make Loans and the Issuing Lenders to issue Letters of Credit hereunder and declare the Obligations of the Borrower to be due and payable (in whole or in part), whereupon such Obligations shall become immediately due and payable, without presentment, demand, protest or notice of any kind, all of which the Borrower hereby expressly waives and (ii) require that the Borrower Cash Collateralize the L/C Obligations in an amount equal to 100% of the outstanding L/C Obligations. Promptly upon any acceleration of the Obligations, the Administrative Agent will provide the Borrower with notice of such acceleration.

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If, within thirty (30) days after acceleration of the maturity of the Obligations of the Borrower or termination of the obligations of the Lenders to make Loans and the obligations of the Issuing Lenders to issue Letters of Credit hereunder as a result of any Default (other than any Default as described in <u>Section 7.05</u> or <u>7.06</u>) and before any judgment or decree for the payment of the Obligations due shall have been obtained or entered, the Required Lenders (in their sole discretion) shall so direct, the Administrative Agent shall, by notice to the Borrower, rescind and annul such acceleration and/or termination.

**Section 8.02** *Amendments*. Subject to the provisions of this <u>Article 8</u>, <u>Section 2.14</u>, <u>Section 2.22</u> and <u>Section 3.07</u> and except as otherwise expressly set forth herein, the Required Lenders (or the Administrative Agent with the consent in writing of the Required Lenders) and the Borrower may enter into (with notice to the Administrative Agent, if the Administrative Agent is not acting with the consent in writing of the Required Lenders) agreements supplemental hereto for the purpose of adding or modifying any provisions to the Loan Documents or changing in any manner the rights of the Lenders or the Borrower hereunder or thereunder or waiving any Default hereunder or thereunder; *provided*, *however*, that no such supplemental agreement shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Extend the final maturity of any Loan of any Lender (other than as expressly permitted by the terms of <u>Section 2.23</u>) or reduce or forgive all or any portion of the principal amount thereof payable to any Lender or of any unpaid obligations of the Borrower under <u>Section 2.03(f)</u> to reimburse an Issuing Lender the amount of each draft under a Letter of Credit paid by such Issuing Lender, or reduce the rate, reduce the amount or extend the scheduled time of payment of interest or fees thereon (other than a waiver of the application of the default rate of interest pursuant to <u>Section 2.11</u> hereof) payable to any Lender, without the consent of each Lender or Issuing Lender affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Reduce the percentage specified in the definition of Required Lenders or any other percentage of Lenders specified to be the applicable percentage in this Agreement to act on specified matters or amend <u>Section 2.19</u> or the definition of "Pro Rata Share", without the consent of all Lenders affected thereby. For the sake of clarity, the addition of a term loan or an increased or additional revolving credit facility or an extension of the maturity of a portion of the revolving credit facility (including, without limitation, pursuant to <u>Section 2.23</u>) and similar modifications shall be permitted with the consent of the Required Lenders and the Lenders agreeing to participate in the new facility or to increase the amount of their commitment or extend the maturity of their Loans.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp; Extend the Facility Termination Date as it applies to any Lender or otherwise extend the term or increase the amount of the Commitment of any Lender hereunder (other than as expressly permitted by the terms of <u>Section 2.23</u>, <u>Section 2.22</u>, and the definition of "Facility Termination Date") without the consent of each Lender affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; Permit the Borrower to assign its rights or obligations under this Agreement except as provided in <u>Section 6.09</u> without the consent of all Lenders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amend this <u>Section 8.02</u> without the consent of all Lenders.

Notwithstanding the foregoing, (w) no amendment of any provision of this Agreement relating to any Agent shall be effective without the written consent of such Agent; (x) no amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan Document; (y) any provision of this Agreement or any other Loan Document may be amended by an agreement in writing entered into by the Borrower and the Administrative Agent to cure any ambiguity, omission, defect or inconsistency (including, without limitation, amendments, supplements or waivers to any of documents executed by the Borrower or any Subsidiary in connection with this Agreement if such amendment, supplement or waiver is delivered in order to cause such related documents to be consistent with this Agreement and the other Loan Documents); and (z) no amendment, waiver or consent shall affect the rights or duties of any Issuing Lender under this Agreement or any Loan Document relating to any Letter of Credit issued or to be issued by it without the prior written consent of such Issuing Lender.

Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (it being specifically understood and agreed that any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (A) the Commitment of such Lender may not be increased without the consent of such Lender and (B) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall require the consent of such Defaulting Lender.

**Section 8.03**&nbsp;&nbsp;&nbsp;&nbsp; *Preservation of Rights*. No delay or omission of the Lenders or any Issuing Lender or Agents to exercise any right under the Loan Documents shall impair such right or be construed to be a waiver of any Default or an acquiescence therein, and the making of a Loan or issuance of any Letter of Credit notwithstanding the existence of a Default or Unmatured Default or the inability of the Borrower to satisfy the conditions precedent to such Loan or issuance of Letter of Credit shall not constitute any waiver or acquiescence. Any single or partial exercise of any such right shall not preclude other or further exercise thereof or the exercise of any other right, and no waiver, amendment or other variation of the terms, conditions or provisions of the Loan Documents whatsoever shall be valid unless in writing signed by, or by the Administrative Agent with the consent of, the requisite number of Lenders required pursuant to <u>Section 8.02</u>, and then only to the extent in such writing specifically set forth. All remedies contained in the Loan Documents or by law afforded shall be cumulative and all shall be available to the Agents and the Lenders until all of the Obligations have been paid in full.

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Notwithstanding anything to the contrary herein, during the Certain Funds Period, the rights, entitlements and remedies set forth in this <u>Article 8</u>, shall be subject in all respects to <u>Section 4.04</u>.

ARTICLE 9

General Provisions

**Section 9.01**&nbsp;&nbsp;&nbsp;&nbsp; *Survival of Representations*. All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Administrative Agent, each Lender and each Issuing Lender regardless of any investigation made by the Administrative Agent, any Lender and any Issuing Lender or on their behalf and notwithstanding that the Administrative Agent, any Lender or any Issuing Lender may have had notice or knowledge of any Default at the time of any Advance, and shall continue in full force and effect as long as any Loan, (except as may be Cash Collateralized or as otherwise agreed by the applicable Issuing Lender) L/C Obligation or any other Obligation hereunder (other than any contingent indemnification obligations for which no claim has been made) shall remain unpaid or unsatisfied.

**Section 9.02** *Governmental Regulation*. Anything contained in this Agreement to the contrary notwithstanding, no Lender shall be obligated to extend credit to the Borrower in violation of any limitation or prohibition provided by any applicable statute or regulation.

**Section 9.03** *Headings*. Section headings in the Loan Documents are for convenience of reference only, and shall not govern the interpretation of any of the provisions of the Loan Documents.

**Section 9.04** *Entire Agreement*. The Loan Documents embody the entire agreement and understanding among the Borrower, the Agents, the Lenders party thereto and supersede all prior agreements and understandings among the Borrower, the Agents and the Lenders, as applicable, relating to the subject matter thereof.

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**Section 9.05** *Several Obligations; Benefits of this Agreement*. The respective obligations of the Lenders and the Issuing Lenders hereunder are several and not joint and no Lender or Issuing Lender shall be the partner or agent of any other (except to the extent to which the Agents are authorized to act as such). The failure of any Lender or Issuing Lender to perform any of its obligations hereunder shall not relieve any other Lender or Issuing Lender from any of its obligations hereunder. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in <u>Section 12.01(d)</u> and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement; *provided*, *however*, that the parties hereto expressly agree that each Arranger shall enjoy the benefits of the provisions of <u>Sections</u> <u>9.06</u>, <u>9.09</u> and <u>10.07</u> to the extent specifically set forth therein and shall have the right to enforce such provisions on its own behalf and in its own name to the same extent as if it were a party to this Agreement.

**Section 9.06**&nbsp;&nbsp;&nbsp;&nbsp; *Expenses; Indemnification*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp; *Costs and Expenses*. The Borrower shall reimburse from time to time on demand (i) all reasonable and documented out-of-pocket fees and expenses incurred by, without duplication, the Administrative Agent, the Arrangers and their respective Affiliates (in the case of fees, disbursements and other charges of counsel, limited to the reasonable and documented fees, disbursements and other charges of one counsel to the Administrative Agent and the Arrangers and the Lenders (taken together) and, if reasonably necessary, of one local counsel in any relevant jurisdiction) incurred in connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof and (ii) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent, the Issuing Lenders and the Lenders (in the case of fees, disbursements and charges of counsel, limited to the reasonable and documented fees, disbursements and other charges of one counsel to such parties, taken together (and, if reasonably necessary, of one local counsel in any relevant jurisdiction and, solely in the case of an actual or potential conflict of interest, of one additional counsel (and, if reasonably necessary, one additional local counsel in any relevant jurisdiction) for all affected parties, taken together)) in connection with the enforcement or protection of their rights (A) in connection with this Agreement and the other Loan Documents, including their rights under this <u>Section 9.06</u>, or (B) in connection with the Loans or Letters of Credit made or issued hereunder, including all such reasonable and documented out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or the Borrower's obligations in respect of Letters of Credit.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; *Indemnification by the Borrower*. The Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each Arranger, each Lender, each Issuing Lender and each of their respective Affiliates, controlling Persons, successors and assigns and their respective officers, directors, employees, agents and advisors (each such Person being called an "**Indemnitee**") against, and hold each Indemnitee harmless from (and will reimburse each Indemnitee as the same are incurred for), any and all losses, claims, damages, liabilities and expenses (in the case of fees, disbursements and charges of counsel, limited to the reasonable and documented fees, disbursements and other charges of one counsel to all Indemnitees, taken together (and, if reasonably necessary, of one local counsel in any relevant jurisdiction and, solely in the case of an actual or potential conflict of interest, of one additional counsel (and, if reasonably necessary, one additional local counsel in any relevant jurisdiction) for all affected Indemnitees, taken together)) that may be incurred by or awarded against any Indemnitee, in each case arising out of or in connection with (i) the Revolving Credit Facility, (ii) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder, the consummation of the transactions contemplated hereby or thereby, or, in the case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other Loan Documents (including in respect of any matters addressed in <u>Section 3.05</u>), (iii) any Loan or Letter of Credit or the use or proposed use of the proceeds, (iv) any actual or alleged presence or release of Hazardous Materials on, at, to or from any property currently or formerly owned, leased or operated by the Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries or (v) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower, and regardless of whether any Indemnitee is a party thereto; *provided* that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from (x) the bad faith, gross negligence or willful misconduct of such Indemnitee or its Subject Related Parties, (y) a material breach by such Indemnitee or any of its Subject Related Parties of such Indemnitee's obligations hereunder or under any other Loan Document or (z) a dispute solely among two or more Indemnitees not arising from any act or omission of the Borrower or its Subsidiaries hereunder (other than claims against an Indemnitee in its capacity or as a result of fulfilling its role as an Agent, Arranger or similar role under any of the Loan Documents). This <u>Section 9.06(b)</u> shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc., arising from any non-Tax claim. In the case of an investigation, litigation or proceeding to which the indemnity in this <u>Section 9.06(b)</u> applies, such indemnity shall be effective whether or not such investigation, litigation or proceeding is brought by the Borrower, its equityholders or creditors or any other third party or an Indemnitee, whether or not an Indemnitee is otherwise a party thereto and whether or not the transactions contemplated hereby are consummated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) &nbsp;&nbsp;&nbsp;&nbsp; *Reimbursement by Lenders*. To the extent that the Borrower for any reason fails to indefeasibly pay any amount required under <u>clause</u> <u>(a)</u> of this <u>Section 9.06</u> or the Borrower for any reason fails to indefeasibly pay or cause to be paid any amount required under <u>clause</u> <u>(b)</u> of this <u>Section 9.06</u>, in each case, to be paid to the Administrative Agent (or any sub-agent thereof), any Arranger, any Issuing Lender or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), such Arranger, such Issuing Lender or such Related Party, as the case may be, such Lender's Pro Rata Share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount; *provided* that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), such Arranger or such Issuing Lender in its capacity as such or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), such Arranger or such Issuing Lender in connection with such capacity. The obligations of the Lenders under this <u>clause</u> <u>(c)</u> are subject to the provisions of <u>Section 2.17(c)</u>.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; *Waiver of Consequential Damages, Limitation of Liability*. To the fullest extent permitted by applicable law, each party hereto agrees that it shall not assert, and hereby waives, any claim against any other party hereto, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof (it being agreed that the Borrower's indemnity and contribution obligations set forth in this <u>Section 9.06</u> shall apply in respect of any special, indirect, consequential or punitive damages that may be awarded against any Indemnitee in connection with a claim by a third party unaffiliated with the Indemnitee). None of the Administrative Agent (and any sub-agent thereof), each Arranger, each Lender, each Issuing Lender and each of their respective Affiliates, controlling Persons, successors and assigns and their respective officers, directors, employees, agents and advisors (each such Person being called a "**Protected Party**") shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such Protected Party through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or actual damages resulting from the gross negligence, bad faith or willful misconduct of such Protected Party or its Subject Related Parties or a material breach of such Protected Party's or its Subject Related Parties' obligations hereunder or under any other Loan Document, in each case, as determined by a final and nonappealable judgment of a court of competent jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp; *Payments*. All amounts due under this <u>Section 9.06</u> shall be payable not later than ten (10) Business Days after written demand therefor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp; *Survival*. The agreements in this <u>Section 9.06</u> shall survive the resignation of the Administrative Agent, the replacement of any Lender, the termination of the Aggregate Commitment and the repayment, satisfaction or discharge of all the other Obligations.

**Section 9.07**&nbsp;&nbsp;&nbsp;&nbsp; *Accounting*. Except as provided to the contrary herein, all accounting terms used herein shall be interpreted and all accounting determinations hereunder shall be made in accordance with the Agreement Accounting Principles.

**Section 9.08**&nbsp;&nbsp;&nbsp;&nbsp; *Severability of Provisions*. Any provision in any Loan Document that is held to be inoperative, unenforceable, or invalid in any jurisdiction shall, as to that jurisdiction, be inoperative, unenforceable, or invalid without affecting the remaining provisions in that jurisdiction or the operation, enforceability, or validity of that provision in any other jurisdiction, and to this end the provisions of all Loan Documents are declared to be severable. Without limiting the foregoing provisions of this <u>Section 9.08</u>, if and to the extent that the enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, then such provisions shall be deemed to be in effect only to the extent not so limited.

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**Section 9.09**&nbsp;&nbsp;&nbsp;&nbsp; *Nonliability of Lenders*. The relationship between the Borrower on the one hand and the Lenders and the Agents on the other hand shall be solely that of borrower and lender. None of the Agents, the Arrangers or any Lender shall have any fiduciary responsibilities to the Borrower. None of the Agents, the Arrangers or any Lender undertakes any responsibility to the Borrower to review or inform the Borrower of any matter in connection with any phase of the Borrower's business or operations.

**Section 9.10**&nbsp;&nbsp;&nbsp;&nbsp; *Confidentiality*. Each of the Administrative Agent, each other Agent, the Issuing Lenders and the Lenders agrees to use all Information received by them solely for the purposes of providing the services that are the subject of this Agreement and to maintain the confidentiality of the Information, except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates' respective partners, directors, officers, employees, trustees, advisors and agents (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any regulatory authority (including any self-regulatory authority), in which case such Administrative Agent, other Agent, Issuing Lender or Lender, as applicable, agrees to the extent reasonably practicable and not prohibited by applicable law, rule, regulation or order, to inform the Borrower promptly of the disclosure thereof, (c) to the extent required by applicable laws, rules or regulations or by any subpoena or order or similar legal process (in which case such Administrative Agent, other Agent, Issuing Lender or Lender, as applicable, agrees to the extent not prohibited by applicable law, rule, regulation or order, to inform the Borrower promptly of the disclosure thereof), (d) in connection with performing the services set forth herein and consummating the transactions contemplated hereby, to any prospective Lender or Issuing Lender or participant subject to the such prospective Lender or Issuing Lender or participant agreeing to confidentiality arrangements (for the benefit of the Borrower) no less favorable to the Borrower than those set forth in this <u>Section 9.10</u>, (e) to potential counterparties to any swap or derivative transaction, subject to the confidentiality agreements in favor of the Borrower no less favorable to the Borrower than this paragraph, (f) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder, (g) with the prior written consent of the Borrower, (h) in connection with obtaining CUSIP numbers, (i) as and to the extent set forth in <u>Section 12.02</u>, (j) to the extent such Information (x) is or becomes publicly available other than as a result of a breach of this <u>Section 9.10</u> or (y) becomes available to such Administrative Agent, other Agent, Issuing Lender or Lender, as applicable, from a source other than the Borrower (or the Borrower's representatives) that is not, such Person's knowledge, subject to confidentiality or fiduciary obligations owing to the Borrower or any of the Borrower's Subsidiaries, (k) to any other party hereto and (l) to any rating agency on a confidential basis in connection with rating the Borrower or the credit facility evidenced by this Agreement. Notwithstanding the foregoing, (x) the Administrative Agent shall not be required to provide notice of any Lender by any governmental agency or examiner or regulatory body with jurisdiction over any Lender and (y) solely to the extent required by applicable law, it is understood that nothing herein prohibits any individual from communicating or disclosing information regarding suspected violations or laws, rules, or regulations to a governmental, regulatory, or self-regulatory authority without any notification to any Person.

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In addition, on a confidential basis, the Administrative Agent, each Issuing Lender and each Lender may disclose the existence and terms of this Agreement (including, without limitation, the Aggregate Commitment, the nature of the facility as a revolving credit facility, the use of proceeds provisions herein and the principal amount outstanding at a given time), and the identity of the parties hereto (including titles and participants) to market data collectors, similar services providers to the lending industry, and service providers to the Administrative Agent, the Issuing Lenders and the Lenders in connection with the administration and management of this Agreement and the other Loan Documents.

For purposes of this <u>Section 9.10</u>, "**Information**" means all information received from the Borrower or any Subsidiary relating to the Borrower or any Subsidiary or any of their respective businesses in connection with the transactions contemplated hereby.

Each of the Administrative Agent, the Issuing Lenders and the Lenders acknowledges that (a) the Information may include material non-public information concerning the Borrower or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material non-public information and (c) it will handle such material non-public information in accordance with applicable law, including United States Federal and state securities laws.

**Section 9.11** *Nonreliance*. Each of the Lenders hereby represents that it is not relying on or looking to any margin stock (as defined in Regulation U) as collateral in the extension or maintenance of the credit provided for herein.

**Section 9.12**&nbsp;&nbsp;&nbsp;&nbsp; *Disclosure*. The Borrower, the Issuing Lenders and each Lender hereby acknowledge and agree that the Administrative Agent, Arrangers and/or their respective Affiliates and certain of the other Lenders, Issuing Lenders and/or their respective Affiliates from time to time may hold investments in, make other loans to or have other relationships with the Borrower and its Affiliates.

ARTICLE 10

The Administrative Agent

**Section 10.01**&nbsp;&nbsp;&nbsp;&nbsp; *Appointment and Authority*. Each of the Lenders and each Issuing Lender hereby irrevocably appoints Wells Fargo to act on its behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this <u>Article 10</u> (other than <u>Section 10.06</u> below) are solely for the benefit of the Administrative Agent, the Lenders and the Issuing Lenders, and the Borrower shall not have rights as a third-party beneficiary of any of such provisions (other than as provided in <u>Section 10.06</u> below). It is understood and agreed that the use of the term "agent" herein or in any other Loan Documents (or any other similar term) with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties.

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**Section 10.02** *Rights as a Lender*. The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term "Lender" or "Lenders" shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders.

**Section 10.03** *Reliance by Administrative Agent*. The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan or the issuance, extension, renewal, amendment or increase of a Letter of Credit that by its terms must be fulfilled to the satisfaction of a Lender or an Issuing Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender or Issuing Lender unless the Administrative Agent shall have received notice to the contrary from such Lender or Issuing Lender prior to the making of such Loan or the issuance, extension, renewal, amendment or increase of such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in good faith in accordance with the advice of any such counsel, accountants or experts.

**Section 10.04** *Exculpatory Provisions*. The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) &nbsp;&nbsp;&nbsp;&nbsp; shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), *provided* that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp; shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity.

Neither the Administrative Agent nor any of its Related Parties shall be liable for any action taken or not taken by the Administrative Agent (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in <u>Article 8</u>) or (ii) in the absence of (A) its and its Subject Related Parties' gross negligence or willful misconduct as determined by a court of competent jurisdiction by a final and non-appealable judgment and (B) material breach by the Administrative Agent and its Subject Related Parties of the Administrative Agent's obligations pursuant to the terms of the Loan Documents as determined by a court of competent jurisdiction by a final and non-appealable judgment. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice describing such Default is given in writing to the Administrative Agent by the Borrower or a Lender.

Neither the Administrative Agent nor any of its Related Parties shall be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith (including any report provided to it by an Issuing Lender pursuant to <u>Section 2.03</u>), (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, (v) the satisfaction of any condition set forth in <u>Article 4</u> or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent, or (vi) the utilization of any Issuing Lender's L/C Commitment (it being understood and agreed that each Issuing Lender shall monitor compliance with its own L/C Commitment without any further action by the Administrative Agent).

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**Section 10.05** *Delegation of Duties*. The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this <u>Article 10</u> shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and non-appealable judgment that the Administrative Agent acted with gross negligence or willful misconduct (or breached its material obligations under the Loan Documents) in the selection of such sub-agents.

**Section 10.06**&nbsp;&nbsp;&nbsp;&nbsp; *Resignation of Administrative Agent*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp; The Administrative Agent may at any time give notice of its resignation to the Lenders, the Issuing Lenders and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, subject to, so long as no Default has occurred and is continuing, the consent of the Borrower (such consent not to be unreasonably withheld or delayed), to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (such date, or the date, if earlier, upon which a successor is appointed, the "**Resignation Effective Date**"), then the retiring Administrative Agent may (but shall not be obligated to) on behalf of the Lenders and the Issuing Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above, subject to, so long as no Default has occurred and is continuing, the consent of the Borrower (such consent not to be unreasonably withheld or delayed). Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If the Person serving as Administrative Agent is a Defaulting Lender pursuant to <u>clause</u> <u>(d)</u> of the definition thereof, the Required Lenders may, to the extent permitted by applicable law, by notice in writing to the Borrower and such Person remove such Person as Administrative Agent and, subject to, so long as no Default has occurred and is continuing, the consent of the Borrower (such consent not to be unreasonably withheld or delayed), appoint a successor. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days (or such earlier day as shall be agreed by the Required Lenders) (the "**Removal Effective Date**"), then such removal shall nonetheless become effective in accordance with such notice on the Removal Effective Date.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) With effect from the Resignation Effective Date or the Removal Effective Date (as applicable) (i) the retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents and (ii) except for any indemnity payments or other amounts then owed to the retiring or removed Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and each Issuing Lender directly, until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided for above in this <u>Section 10.06</u>. Upon the acceptance of a successor's appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired or removed) Administrative Agent (other than as provided in <u>Section 3.08</u> and other than any rights to indemnity payments or other amounts owed to the retiring or removed Administrative Agent as of the Resignation Effective Date or the Removal Effective Date, as applicable), and the retiring or removed Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring or removed Administrative Agent's resignation or removal hereunder and under the other Loan Documents, the provisions of this <u>Article 10</u> and <u>Section 9.06</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 actions taken or omitted to be taken by any of them (i) while the retiring or removed Administrative Agent was acting as Administrative Agent and (ii) after such resignation or removal for as long as any of them continues to act in any agency capacity hereunder or under the other Loan Documents, including in respect of any actions taken in connection with transferring the agency to any successor Administrative Agent.

**Section 10.07** *Non-Reliance on Administrative Agent and Other Lenders*. Each Lender and each Issuing Lender expressly acknowledges, represents and warrants to the Administrative Agent and the Arrangers that (a) the Loan Documents set forth the terms of a commercial lending facility, (b) it is engaged in making, acquiring, purchasing or holding commercial loans in the ordinary course and is entering into this Agreement and the other Loan Documents to which it is a party as a Lender for the purpose of making, acquiring, purchasing and/or holding the commercial loans set forth herein as may be applicable to it, and not for the purpose of investing in the general performance or operations of the Borrower and its Subsidiaries, or for the purpose of making, acquiring, purchasing or holding any other type of financial instrument such as a security, (c) it is sophisticated with respect to decisions to make, acquire, purchase or hold the commercial loans applicable to it and either it or the Person exercising discretion in making its decisions to make, acquire, purchase or hold such commercial loans is experienced in making, acquiring, purchasing or holding commercial loans, (d) it has, independently and without reliance upon the Administrative Agent, the Arrangers, any other Lender or any of their respective Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and appraisal of, and investigations into, the business, prospects, operations, property, assets, liabilities, financial and other condition and creditworthiness of the Borrower and its Subsidiaries, all applicable bank or other regulatory applicable laws relating to the transactions contemplated by this Agreement and the other Loan Documents and (e) it has made its own independent decision to enter into this Agreement and the other Loan Documents to which it is a party and to extend credit hereunder and thereunder. Each Lender and each Issuing Lender also acknowledges and agrees that (i) it will, independently and without reliance upon the Administrative Agent, the Arrangers or any other Lender or any of their respective Related Parties (A) continue to make its own credit analysis, appraisals and decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder based on such documents and information as it shall from time to time deem appropriate and its own independent investigations and (B) continue to make such investigations and inquiries as it deems necessary to inform itself as to the Borrower and its Subsidiaries and (ii) it will not assert any claim under any federal or state securities law or otherwise in contravention of this <u>Section 10.07</u>.

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**Section 10.08** *No Other Duties, Etc.* Anything herein to the contrary notwithstanding, none of the Arrangers or other Agents listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or an Issuing Lender hereunder.

**Section 10.09**&nbsp;&nbsp;&nbsp;&nbsp; *Administrative Agent May File Proofs of Claim*. In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to the Borrower, the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered (but not obligated), by intervention in such proceeding or otherwise:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans, L/C Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the Issuing Lenders and the Administrative Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the Issuing Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the Issuing Lenders and the Administrative Agent under <u>Sections 2.09</u>, <u>3.07(b)</u> and <u>9.06</u>) allowed in such judicial proceeding; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same;

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and each Issuing Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders and the Issuing Lenders, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under <u>Sections 2.09</u>, <u>3.07(b)</u> and <u>9.06</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 Lender or Issuing Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or Issuing Lender to authorize the Administrative Agent to vote in respect of the claim of any Lender or Issuing Lender in any such proceeding.

**Section 10.10**&nbsp;&nbsp;&nbsp;&nbsp; *ERISA*. (a) Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and the Arrangers and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower, that at least one of the following is and will be true:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp; such Lender is not using "plan assets" (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans with respect to such Lender's entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments or this Agreement,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender's entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp; (A) such Lender is an investment fund managed by a "Qualified Professional Asset Manager" (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements of subsections (b) through (g) and subsection (k) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender's entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) &nbsp;&nbsp;&nbsp;&nbsp; such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Lender.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition, unless <u>sub-clause (i)</u> in the immediately preceding <u>clause (a)</u> is true with respect to a Lender or a Lender has provided another representation, warranty and covenant as provided in <u>sub-clause (iv)</u> in the immediately preceding <u>clause (a)</u>, such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, the Arrangers and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower, that none of the Administrative Agent, any Arranger or any of their respective Affiliates is a fiduciary with respect to the assets of such Lender involved in such Lender's entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto).

**Section 10.11**&nbsp;&nbsp;&nbsp;&nbsp; *Erroneous Payments*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Lender, each Issuing Lender and any other party hereto other than the Borrower and its Subsidiaries (if applicable) hereby severally agrees that if (i) the Administrative Agent notifies (which such notice shall be conclusive absent manifest error) such Lender or Issuing Lender or any other Person other than the Borrower and its Subsidiaries that has received funds from the Administrative Agent or any of its Affiliates, either for its own account or on behalf of a Lender or Issuing Lender (each such recipient, a "**Payment Recipient**") that the Administrative Agent has determined in its sole discretion that any funds received by such Payment Recipient were erroneously transmitted to, or otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known to such Payment Recipient) or (ii) any Payment Recipient receives any payment 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 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, as applicable, (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) with respect to such payment, prepayment or repayment, as applicable, or (z) that such Payment Recipient otherwise becomes aware was transmitted or received in error or by mistake (in whole or in part) then, in each case, an error in payment shall be presumed to have been made (any such amounts specified in <u>clauses (i)</u> or <u>(ii)</u> of this <u>Section 10.11(a)</u>, whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise; individually and collectively, an "**Erroneous Payment**"), then, in each case, such Payment Recipient is deemed to have knowledge of such error at the time of its receipt of such Erroneous Payment; *provided* that nothing in this Section shall require the Administrative Agent to provide any of the notices specified in <u>clauses (i)</u> or <u>(ii)</u> above. Each Payment Recipient agrees that it shall not assert any right or claim to any Erroneous Payment, and hereby waives any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim by the Administrative Agent for the return of any Erroneous Payments, including without limitation waiver of 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;(b)&nbsp;&nbsp;&nbsp;&nbsp; Without limiting the immediately preceding <u>clause (a)</u>, each Payment Recipient agrees that, in the case of <u>clause (a)(ii)</u> above, it shall promptly notify the Administrative Agent in writing of such occurrence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the case of either <u>clause (a)(i)</u> or <u>(a)(ii)</u> above, such Erroneous Payment shall at all times remain the property of the Administrative Agent and shall be segregated by the Payment Recipient and held in trust for the benefit of the Administrative Agent, and upon demand from the Administrative Agent such Payment Recipient shall (or, shall cause any Person who received any portion of an Erroneous Payment on its behalf to), promptly, but in all events no later than one Business Day thereafter, return to the Administrative Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made in Same Day Funds and in the currency so received, together with interest thereon 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 at the greater of the Federal Funds Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; In the event that an Erroneous Payment (or portion thereof) is not recovered by the Administrative Agent for any reason, after demand therefor by the Administrative Agent in accordance with immediately preceding <u>clause (c)</u>, from any Lender that is a Payment Recipient or an Affiliate of a Payment Recipient (such unrecovered amount as to such Lender, an "**Erroneous Payment Return Deficiency**"), then at the sole discretion of the Administrative Agent and upon the Administrative Agent's written notice to such Lender (i) such Lender shall be deemed to have made a cashless assignment of the full face amount of the portion of its Loans (but not its Commitments) of the relevant Class with respect to which such Erroneous Payment was made (the "**Erroneous Payment Impacted Class**") to the Administrative Agent or, at the option of the Administrative Agent, the Administrative Agent's applicable lending affiliate in an amount that is equal to the Erroneous Payment Return Deficiency (or such lesser amount as the Administrative Agent may specify) (such assignment of the Loans (but not Commitments) of the Erroneous Payment Impacted Class, the "**Erroneous Payment Deficiency Assignment**") plus any accrued and unpaid interest on such assigned amount, without further consent or approval of any party hereto and without any payment by the Administrative Agent or its applicable lending affiliate as the assignee of such Erroneous Payment Deficiency Assignment. The parties hereto acknowledge and agree that (1) any assignment contemplated in this <u>clause (d)</u> shall be made without any requirement for any payment or other consideration paid by the applicable assignee or received by the assignor, (2) the provisions of this <u>clause (d)</u> shall govern in the event of any conflict with the terms and conditions of <u>Section 12.01</u> and (3) the Administrative Agent may reflect such assignments in the Register without further consent or action by any other Person.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Each party hereto hereby agrees that (x) in the event 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 (1) shall be subrogated to all the rights of such Payment Recipient with respect to such amount and (2) is authorized to set off, net and apply any and all amounts at any time owing to such Payment Recipient under any Loan Document, or otherwise payable or distributable by the Administrative Agent to such Payment Recipient from any source, against any amount due to the Administrative Agent under this <u>Section 10.11</u> or under the indemnification provisions of this Agreement, (y) the receipt of an Erroneous Payment by a Payment Recipient shall not for the purpose of this Agreement be treated as a payment, prepayment, repayment, discharge or other satisfaction of any Obligations owed by the Borrower or any of its Subsidiaries, except, in each case, to the extent such Erroneous Payment is, and solely with respect to the amount of such Erroneous Payment that is, comprised of funds received by the Administrative Agent from the Borrower or any of its Subsidiaries for the purpose of making a payment on the Obligations and (z) to the extent that an Erroneous Payment (except to the extent such Erroneous Payment was, and solely with respect to the amount of such Erroneous Payment that was, comprised of funds received by the Administrative Agent from the Borrower or any of its Subsidiaries for the purpose of making a payment on the Obligations) was in any way or at any time credited as payment or satisfaction of any of the Obligations, the Obligations or any part thereof that were so credited, and all rights of the Payment Recipient, as the case may be, shall be reinstated and continue in full force and effect as if such payment or satisfaction had never been received.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp; Each party's obligations under this <u>Section 10.11</u> shall survive the resignation or replacement of the Administrative Agent or any transfer of rights or obligations by, or the replacement of, a Lender, the termination of the Commitments or the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan Document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) &nbsp;&nbsp;&nbsp;&nbsp; Nothing in this <u>Section 10.11</u> will constitute a waiver or release of any claim of the Administrative Agent hereunder arising from any Payment Recipient's receipt of an Erroneous Payment.

ARTICLE 11

Setoff

**Section 11.01**&nbsp;&nbsp;&nbsp;&nbsp; *Setoff*. In addition to, and without limitation of, any rights of the Lenders or any Issuing Lender under applicable law, if any Default occurs, any and all deposits (including all account balances, whether provisional or final and whether or not collected or available) and any other Indebtedness at any time held or owing by any Lender or any Issuing Lender or any Affiliate of any Lender or Issuing Lender to or for the credit or account of the Borrower may be offset and applied toward the payment of the Obligations of the Borrower then owing to such Lender or Issuing Lender to the extent the Obligations shall then be due; *provided* that, in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of <u>Section 2.21</u> and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of setoff.

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ARTICLE 12

Benefit of Agreement; Assignments; Participations

**Section 12.01**&nbsp;&nbsp;&nbsp;&nbsp; *Successors and Assigns*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp; *Successors and Assigns Generally*. The provisions of this Agreement and the other Loan Documents shall be binding upon and inure to the benefit of the parties hereto and thereto and their respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder or thereunder without the prior written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of <u>clause</u> <u>(b)</u> of this <u>Section 12.01</u>, (ii) by way of participation in accordance with the provisions of <u>clause</u> <u>(d)</u> of this <u>Section 12.01</u> or (iii) by way of pledge or assignment of a security interest subject to the restrictions of <u>clause</u> <u>(f)</u> of this <u>Section 12.01</u> (and any other attempted assignment or transfer by any party hereto shall be null and void).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; *Assignments by Lenders*. Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under this Agreement and the other Loan Documents (including all or a portion of its Commitment and the Loans (including for purposes of this <u>clause (b)</u>, participations in L/C Obligations) at the time owing to it); *provided* that any such assignment shall be subject to the following conditions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp; <u>Minimum Amounts</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp; in the case of an assignment of the entire remaining amount of the assigning Lender's Commitment and the Loans at the time owing to it or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 any case not described in subsection (b)(i)(A) of this <u>Section 12.01</u>, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if "Trade Date" is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $25,000,000 unless each of the Administrative Agent and, so long as no Default under <u>Section 7.02</u>, <u>7.05</u> or <u>7.06</u> has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); *provided*, *however*, that concurrent assignments to members of an Assignee Group and concurrent assignments from members of an Assignee Group to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a single assignment for purposes of determining whether such minimum amount has been met.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <u>Proportionate Amounts</u>. Each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender's rights and obligations under this Agreement with respect to the Loans or the Commitment assigned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp; <u>Required Consents</u>. No consent shall be required for any assignment except to the extent required by <u>subsection (b)(i)(B)</u> of this <u>Section 12.01</u> and, 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A)&nbsp;&nbsp;&nbsp;&nbsp; the prior written consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless such assignment is to a Lender or an Affiliate of a Lender or a Default under <u>Section 7.02</u>, <u>Section 7.05</u> or <u>Section 7.06</u> has occurred and is continuing; *provided* that no assignment shall result in any Lender, together with its Affiliates, holding more than thirty percent (30%) of the Aggregate Commitments at any time without the prior written consent of the Borrower unless a Default under <u>Section 7.02</u>, <u>Section 7.05</u> or <u>Section 7.06</u> has occurred and is continuing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B)&nbsp;&nbsp;&nbsp;&nbsp; the prior written consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required if such assignment is to a Person that is not a Lender, an Affiliate of a Lender or an Approved Fund with respect to a Lender; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) the consent of the Issuing Lenders (such consent not to be unreasonably withheld or delayed) shall be required for any 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;(iv) <u>Assignment and Assumption</u>. The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; *provided*, *however*, that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an administrative questionnaire.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>No Assignment to Borrower</u>. No such assignment shall be made to the Borrower or any of its Affiliates or 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;(vi) <u>No Assignment to Natural Persons</u>. No such assignment shall be made to a natural person (or holding company, investment vehicle or trust for, or owned and operated for the primary benefit of a natural person).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;&nbsp;&nbsp;&nbsp; <u>No Assignment to Defaulting Lenders</u>. No such assignment shall be made to a Defaulting Lender.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) <u>Certain Additional Payments</u>. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the Pro Rata Share of Revolving Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent, the Issuing Lenders or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full Pro Rata Share of all Loans and participations in Letters of Credit. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs.

Subject to acceptance and recording thereof by the Administrative Agent pursuant to <u>clause</u> <u>(c)</u> of this <u>Section 12.01</u>, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender's rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of <u>Sections</u> <u>3.01</u>, <u>3.04</u>, <u>3.05</u>, <u>3.07(b)</u> and <u>9.06</u> with respect to facts and circumstances occurring prior to the effective date of such assignment. Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this <u>clause (b)</u> shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with <u>clause</u> <u>(d)</u> of this <u>Section 12.01</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) &nbsp;&nbsp;&nbsp;&nbsp; *Register*. The Administrative Agent, acting solely for this purpose as a non-fiduciary agent of the Borrower, shall maintain at the Administrative Agent's Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments and L/C Commitments of, and principal amounts (and stated interest) of the Loans and L/C Obligations owing to, each Lender and Issuing Lender, as applicable, pursuant to the terms hereof from time to time (the "**Register**"). The entries in the Register shall be conclusive, absent manifest error, and the Borrower, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender or Issuing Lender, as applicable, hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. In addition, the Administrative Agent shall maintain on the Register information regarding the designation, and revocation of designation, of any Lender as a Defaulting Lender. The Register shall be available for inspection by the Borrower at any reasonable time and from time to time upon reasonable prior notice. In addition, at any time that a request for a consent for a material or substantive change to the Loan Documents is pending, any Lender may request and receive from the Administrative Agent a copy of the Register.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; *Participations*. Any Lender may at any time, without the prior written consent of the Borrower, Administrative Agent or any Issuing Lender, sell participations to any Person (other than a natural person (or holding company, investment vehicle or trust for, or owned and operated for the primary benefit of a natural person), Defaulting Lender or the Borrower or any of its Affiliates or Subsidiaries) (each, a "**Participant**") in all or a portion of such Lender's rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender's participations in L/C Obligations)); *provided* that (i) such Lender's obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the Administrative Agent, the Issuing Lenders and the Lenders shall continue to deal solely and directly with such Lender in connection with such Lender's rights and obligations under this Agreement.

Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; *provided* that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the proviso to <u>Section 8.02</u> that affects such Participant. Subject to <u>clause</u> <u>(e)</u> of this <u>Section 12.01</u>, the Borrower agrees that each Participant shall be entitled to the benefits of <u>Sections</u> <u>3.01</u>, <u>3.04</u>, <u>3.05</u> or <u>3.07(b)</u> to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to <u>clause</u> <u>(b)</u> of this <u>Section 12.01</u>. To the extent permitted by law, each Participant also shall be entitled to the benefits of <u>Section 11.01</u> as though it were a Lender, *provided* that such Participant agrees to be subject to <u>Section 2.19</u> as though it were a Lender.

Each Lender that sells a participation shall, acting solely for this purpose as a nonfiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant's interest in the Loans or other Obligations under the Loan Documents (the "**Participant Register**"); *provided* that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant's interest in any Commitments, Loans or its other Obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such Commitment, Loan or other Obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp; *Limitations upon Participant Rights*. A Participant shall not be entitled to receive any greater payment under <u>Section</u> <u>3.01</u>, <u>3.04</u>, <u>3.05</u> or <u>3.07(b)</u> than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower's prior written consent. A Participant shall not be entitled to the benefits of <u>Section 3.05</u> unless such Participant agrees to comply with <u>Section 3.05</u> as though it were a Lender (it being understood that the documentation required under <u>Section 3.05(e)</u> shall be delivered to the Lender who sells the participation).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp; *Certain Pledges*. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or other central banking authority having jurisdiction over such Lender; *provided* that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

**Section 12.02** *Dissemination of Information*. The Borrower authorizes each of the Lenders to disclose to any Participant and any prospective Participant any and all information in such Lender's possession concerning the creditworthiness of the Borrower and its Subsidiaries, including without limitation any information contained in any reports or other information delivered by the Borrower pursuant to <u>Section 6.01</u>; *provided* that each Participant and prospective Participant agrees to be bound by <u>Section 9.10</u> of this Agreement or other provisions at least as restrictive as <u>Section 9.10</u> including making the acknowledgments set forth therein (in each case for the benefit of the Borrower).

**Section 12.03**&nbsp;&nbsp;&nbsp;&nbsp; *Tax Treatment*. If any interest in any Loan Document is transferred to any Participant which is organized under the laws of any jurisdiction other than the United States or any State thereof, the transferor Lender shall cause such Participant, concurrently with the effectiveness of such transfer, to comply with the provisions of <u>Section 3.05(e)</u>.

ARTICLE 13

Notices

**Section 13.01**&nbsp;&nbsp;&nbsp;&nbsp; *Notices; Effectiveness; Electronic Communication*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp; *Notices Generally*. Except in the case of notices and other communications expressly permitted to be given by telephone (and except as provided in <u>clause</u> <u>(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 telecopier as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) if to the Borrower or the Administrative Agent, to the address, telecopier number, electronic mail address or telephone number set forth on <u>Schedule 13.01</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;(ii) if to any other Lender or Issuing Lender, to the address, telecopier number, electronic mail address or telephone number specified in its administrative questionnaire.

Notices and other communications sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when 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, 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 said <u>clause (b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; *Electronic Communications*. Notices and other communications to the Lenders and Issuing Lenders hereunder may be delivered or furnished by electronic communication (including e-mail and internet or intranet websites) pursuant to procedures approved by the Administrative Agent or as otherwise determined by the Administrative Agent, *provided* that the foregoing shall not apply to notices to any Lender or Issuing Lender pursuant to <u>Article 2</u> if such Lender or Issuing Lender has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent, the Borrower or any Issuing Lender may, in its respective discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it or as it otherwise determines, *provided* that such determination or approval may be limited to particular notices or communications.

Unless the Administrative Agent otherwise prescribes, (<u>i</u>) notices and other communications 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), *provided* that if such notice or other communication is 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 (<u>i</u><u>i</u>) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing <u>sub-clause (i)</u> of notification that such notice or communication is available and identifying the website address therefor.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *The Platform*. THE PLATFORM IS PROVIDED "AS IS" AND "AS AVAILABLE." THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD-PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the "**Agent Parties**") have any liability to the Borrower, any Lender, any Issuing Lender or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower's or the Administrative Agent's transmission of Borrower 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 nonappealable judgment to have resulted from the gross negligence or willful misconduct of, or breach of its material obligations under any Loan Document by, such Agent Party; *provided*, *however*, that, in no event shall any Agent Party have any liability to the Borrower, any Lender, any Issuing Lender 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;(d)&nbsp;&nbsp;&nbsp;&nbsp; *Change of Address, Etc*. Each of the Borrower, the Administrative Agent and each Issuing Lender may change its address, telecopier or telephone number for notices and other communications hereunder by written notice to the other parties hereto. Each other Lender may change its address, telecopier or telephone number for notices and other communications hereunder by written notice to the Borrower, the Administrative Agent and each Issuing Lender. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact name, telephone number, telecopier number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender. Furthermore, each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the "Private Side Information" or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender's compliance procedures and applicable law, including United States Federal and state securities laws, to make reference to Borrower 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 the Borrower or its securities for purposes of United States Federal or state securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) &nbsp;&nbsp;&nbsp;&nbsp; *Reliance by Administrative Agent and Lenders*. The Administrative Agent, the Lenders and the Issuing Lenders shall be entitled to rely and act upon any notices purportedly given by or on behalf of the Borrower so long as such notices appear on their face to be authentic even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify the Administrative Agent, each Lender, each Issuing Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower. All telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording.

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ARTICLE 14

Counterparts; Integration; Effectiveness; Electronic Execution

**Section 14.01** *Counterparts; Effectiveness*. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Except as provided in <u>Article 4</u>, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or email shall be effective as delivery of a manually executed counterpart of this Agreement.

**Section 14.02** *Electronic Execution*. The words "delivery", "execute," "execution," "signed," "signature," and words of like import in or related to any document to be signed in connection with this Agreement and the transactions contemplated hereby (including without limitation Assignment and Assumptions, amendments or other modifications, Conversion/Continuation Notices, Borrowing Notices, waivers and consents) (each, a "**Communication**") 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, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. For the avoidance of doubt, the authorization under this <u>Section 14.02</u> may include, without limitation, use or acceptance by the Borrower, the Administrative Agent and each of the Lenders of a manually signed paper Communication which has been converted into electronic form (such as scanned into PDF format), or an electronically signed Communication converted into another format approved by the Administrative Agent, for transmission, delivery and/or retention. The Borrower, the Administrative Agent and each of the Lenders may, at its option, create one or more copies of any Communication in the form of an imaged Electronic Record, which shall be deemed created in the ordinary course of such Person's business, and destroy the original paper document. 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; *provided* that, without limiting the foregoing, (a) to the extent the Administrative Agent has agreed to accept such Electronic Signature, the Administrative Agent and each of the Lenders shall be entitled to rely on any such Electronic Signature purportedly given by or on behalf of the Borrower without further verification and (b) upon the reasonable request of the Administrative Agent or any Lender, any Electronic Signature shall be promptly followed by such manually executed counterpart. For purposes hereof, "**Electronic Record**" and "**Electronic Signature**" shall have the meanings assigned to them, respectively, by 15 USC §7006, as it may be amended from time to time.

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ARTICLE 15

Choice of Law; Consent to Jurisdiction; Waiver of Jury Trial

**Section 15.01**&nbsp;&nbsp;&nbsp;&nbsp; *Choice of Law*. THE LOAN DOCUMENTS AND OBLIGATIONS OF THE PARTIES THEREUNDER (INCLUDING, WITHOUT LIMITATION, ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT OF THE SUBJECT MATTER THEREOF AND ANY DETERMINATIONS WITH RESPECT TO POST-JUDGMENT INTEREST) SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THEREOF THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION; *PROVIDED* THAT, NOTWITHSTANDING THE FOREGOING, IT IS UNDERSTOOD AND AGREED THAT (A) THE DETERMINATION OF THE ACCURACY OF ANY FOXTROT ACQUISITION AGREEMENT REPRESENTATION AND WHETHER THE BORROWER HAS THE RIGHT (TAKING INTO ACCOUNT ANY APPLICABLE CURE PROVISIONS) TO TERMINATE ITS OBLIGATIONS UNDER THE FOXTROT ACQUISITION AGREEMENT OR DECLINE TO CONSUMMATE THE FOXTROT ACQUISITION AS A RESULT OF A BREACH OF SUCH REPRESENTATIONS IN THE FOXTROT ACQUISITION AGREEMENT, (B) THE DETERMINATION OF WHETHER THE FOXTROT ACQUISITION HAS BEEN CONSUMMATED IN ACCORDANCE WITH THE TERMS OF THE FOXTROT ACQUISITION AGREEMENT, AND (C) THE INTERPRETATION OF THE DEFINITION OF FOXTROT MATERIAL ADVERSE EFFECT AND WHETHER A FOXTROT MATERIAL ADVERSE EFFECT HAS OCCURRED, IN EACH CASE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS (AS DEFINED IN THE FOXTROT ACQUISITION AGREEMENT) OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAWS PROVISION OR RULE (WHETHER OF THE STATE OF DELAWARE OR ANY OTHER JURISDICTION) THAT WOULD CAUSE OR PERMIT THE APPLICATION OF THE LAWS (OR ANY STATUTES OF LIMITATIONS) OF ANY JURISDICTION OTHER THAN THE STATE OF DELAWARE.

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**Section 15.02** *Consent to Jurisdiction*. EACH OF THE BORROWER, THE AGENTS, THE ISSUING LENDERS AND THE LENDERS HEREBY IRREVOCABLY SUBMITS TO JURISDICTION OF ANY FEDERAL COURT OF THE UNITED STATES OF AMERICA SITTING IN THE BOROUGH OF MANHATTAN OR, IF THAT COURT DOES NOT HAVE SUBJECT MATTER JURISDICTION, OF ANY STATE COURT LOCATED IN THE BOROUGH OF MANHATTAN IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENTS AND HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING SHALL BE HEARD AND DETERMINED IN ANY SUCH COURT AND IRREVOCABLY WAIVES ANY OBJECTION IT MAY NOW OR HEREAFTER HAVE AS TO THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT OR THAT SUCH COURT IS AN INCONVENIENT FORUM. NOTHING HEREIN SHALL LIMIT THE RIGHT OF THE AGENTS, THE ISSUING LENDERS OR ANY LENDER TO BRING PROCEEDINGS AGAINST THE BORROWER IN THE COURTS OF ANY OTHER JURISDICTION. ANY JUDICIAL PROCEEDING BROUGHT BY THE BORROWER, DIRECTLY OR INDIRECTLY, IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH ANY LOAN DOCUMENT SHALL BE BROUGHT ONLY IN A COURT IN ANY FEDERAL COURT OF THE UNITED STATES OF AMERICA SITTING IN THE BOROUGH OF MANHATTAN OR, IF THAT COURT DOES NOT HAVE SUBJECT MATTER JURISDICTION, IN ANY STATE COURT LOCATED IN THE CITY AND COUNTY OF NEW YORK.

EACH OF THE BORROWER, THE AGENTS, THE ISSUING LENDERS AND THE LENDERS HEREBY AGREES FURTHER THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE APPLICABLE PERSON AT ITS ADDRESS PROVIDED IN ACCORDANCE WITH <u>SECTION</u> <u>13.01</u> AND AGREES THAT SUCH SERVICE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER THE APPLICABLE PERSON IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT. NOTHING HEREIN SHALL LIMIT THE RIGHT OF THE AGENTS OR LENDERS TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.

**Section 15.03** *Waiver of Jury Trial*. 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 LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (a) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (b) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS <u>SECTION 15.03</u>.

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**Section 15.04** *U.S. Patriot Act and Beneficial Ownership Regulation Notice*. Each Lender that is subject to the U.S. Patriot Act and the Beneficial Ownership Regulation and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the U.S. Patriot Act and the Beneficial Ownership Regulation, it is required to obtain, verify and record information that identifies the Borrower, which information includes the name, address and tax forms of the Borrower and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower in accordance with the U.S. Patriot Act and Beneficial Ownership Regulation. The Borrower shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable "know your customer" and anti-money laundering rules and regulations, including the U.S. Patriot Act and Beneficial Ownership Regulation.

**Section 15.05**&nbsp;&nbsp;&nbsp;&nbsp; *No Advisory or Fiduciary Responsibility*. In connection with all aspects of each transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower acknowledges and agrees, and acknowledges its Affiliates' understanding, that: (i) (A) the arranging and other services regarding this Agreement provided by the Administrative Agent, the Arrangers and the Lenders are arm's-length commercial transactions between the Borrower and its Affiliates, on the one hand, and the Administrative Agent, the Arrangers and the Lenders, on the other hand, (B) the Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) the Borrower is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) each of the Administrative Agent, the Arrangers and the Lenders is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary for the Borrower or any of its Affiliates, or any other Person and (B) neither the Administrative Agent nor the Arrangers nor any of the Lenders has any obligation to the Borrower or any of its Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the Administrative Agent, the Arrangers, the Lenders and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower and its Affiliates, and neither the Administrative Agent nor the Arrangers nor any of the Lenders has any obligation to disclose any of such interests to the Borrower or its Affiliates. To the fullest extent permitted by law, the Borrower hereby agrees and covenants that it will not make any claims that it may have against the Administrative Agent, the Arrangers and the Lenders with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.

**Section 15.06**&nbsp;&nbsp;&nbsp;&nbsp; [*Reserved*]

**Section 15.07**&nbsp;&nbsp;&nbsp;&nbsp; *Acknowledgement and Consent to Bail-In of Affected Financial Institutions*. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; the effects of any Bail-In Action on any such liability, including, if applicable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp; a reduction in full or in part or cancellation of any such liability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp; the variation of the terms of such liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority.

ARTICLE 16

GUARANTEE

**Section 16.01** *Guarantors*. Any time after the Effective Date, the Borrower may cause any Subsidiary of the Borrower to guarantee the Obligations of the Borrower under the Loan Documents by delivering to the Administrative Agent customary joinder documentation reasonably acceptable to the Administrative Agent, and pursuant to which such Person shall become a "Guarantor" for all purposes under this Agreement and each other Loan Document and shall be bound by all of the obligations of and shall have all of the rights of a "Guarantor" under this Agreement and each other Loan Document including, without limitation, providing the guarantee of the Guaranteed Obligations as set forth in this <u>Article 16</u>.

**Section 16.02**&nbsp;&nbsp;&nbsp;&nbsp; *Guarantee*. Upon becoming a Guarantor pursuant to <u>Section 16.01</u>, each Guarantor, on a joint and several basis, unconditionally guarantees (the undertaking of each Guarantor contained in this <u>Article 16</u> being a "**<u>Guarantee</u>**") the punctual payment when due, whether at stated maturity, by acceleration or otherwise, of all Obligations of the Borrower now or hereafter existing under the Loan Documents, whether for principal, interest, fees, expenses or otherwise (such obligations, collectively, being the "**<u>Guaranteed Obligations</u>**"). Each Guarantee is a guaranty of payment and not of collection. Upon becoming a Guarantor pursuant to <u>Section 16.01</u> each Guarantor agrees that, as between each Guarantor and the Administrative Agent, the Guaranteed Obligations may be declared to be due and payable for purposes of its Guarantee notwithstanding any stay (including any stay imposed by the commencement by or against the Borrower of any proceeding under any Debtor Relief Laws naming the Borrower as the debtor in such proceeding), injunction or other prohibition which may prevent, delay or vitiate any declaration as regards the Borrower and that in the event of a declaration or attempted declaration, the Guaranteed Obligations shall immediately become due and payable by the Guarantors for purposes of its Guarantee. Anything contained herein to the contrary notwithstanding, the obligations of each Guarantor hereunder at any time shall, without further action by any Guarantor or any other Person, be automatically limited and reduced to an aggregate amount equal to the largest amount that would not render such Guarantor's obligations hereunder invalid and unenforceable or otherwise subject to avoidance as a fraudulent transfer or conveyance under Section 548 of the U.S. Bankruptcy Code or any comparable provisions of any similar federal or state law (including the Uniform Fraudulent Conveyance Act and the Uniform Fraudulent Transfer Act) or subordinated to the claims of other creditors as determined in such proceeding.

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**Section 16.03**&nbsp;&nbsp;&nbsp;&nbsp; *Guaranty Absolute*. Upon becoming a Guarantor pursuant to <u>Section 16.01</u>, each Guarantor guarantees that the Guaranteed Obligations will be paid strictly in accordance with the terms of this Agreement, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the Administrative Agent, the Issuing Lenders or the Lenders with respect thereto. The liability of each Guarantor under its Guarantee shall be absolute and unconditional irrespective of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp; any lack of validity, enforceability or genuineness of any provision of any Loan Document, any Guaranteed Obligations or any other agreement or instrument relating thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; any change in the time, manner or place of payment of, or in any other term of, all or any of the Guaranteed Obligations, or any other amendment or waiver of or any consent to departure from this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp; any exchange, release or non-perfection of any collateral, or any release or amendment or waiver of or consent to departure from any other guaranty, for all or any of the Guaranteed Obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; any law or regulation of any jurisdiction or any other event affecting any term of a Guaranteed Obligation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; any other circumstance which might otherwise constitute a defense available to, or a discharge of, any Guarantor or the Borrower.

Each Guarantee shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Guaranteed Obligations is rescinded or must otherwise be returned by the Administrative Agent, any L/C Issuer or any Lender upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise, all as though such payment had not been made.

**Section 16.04**&nbsp;&nbsp;&nbsp;&nbsp; *Waivers*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Upon becoming a Guarantor pursuant to <u>Section 16.01</u>, each Guarantor waives promptness, diligence, notice of acceptance and any other notice with respect to any of the Guaranteed Obligations and its Guarantee and any requirement that the Administrative Agent, any Issuing Lender or any Lender protect, secure, perfect or insure any security interest or lien or any property subject thereto or exhaust any right or take any action against the Borrower or any other Person or any collateral.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; Upon becoming a Guarantor pursuant to <u>Section 16.01</u>, each Guarantor irrevocably waives any claims or other rights that it may now or hereafter acquire against the Borrower that arise from the existence, payment, performance or enforcement of the obligations of any Guarantor under its Guarantee, including, without limitation, any right of subrogation, reimbursement, exoneration, contribution or indemnification and any right to participate in any claim or remedy of the Administrative Agent, any Issuing Lender or any Lender against the Borrower or any collateral, whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including, without limitation, the right to take or receive from the Borrower, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim, remedy or right. If any amount shall be paid to any Guarantor in violation of the preceding sentence at any time prior to the later of the payment in full of the Guaranteed Obligations and all other amounts payable under such Guarantor's Guarantee and the Facility Termination Date, such amount shall be held in trust for the benefit of the Administrative Agent, any Issuing Lender and the Lenders and shall forthwith be paid to the Administrative Agent to be credited and applied to the Guaranteed Obligations and all other amounts payable under such Guarantor's Guarantee, whether matured or unmatured, in accordance with the terms of this Agreement and such Guarantor's Guarantee, or to be held as collateral for any Guaranteed Obligations or other amounts payable under the Guarantee thereafter arising. Upon becoming a Guarantor pursuant to <u>Section 16.01,</u> each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by this Agreement and its Guarantee and that the waiver set forth in this <u>Section 16.04(b)</u> is knowingly made in contemplation of such benefits.

**Section 16.05**&nbsp;&nbsp;&nbsp;&nbsp; *Continuing Guaranty*. Each Guarantee is a continuing guaranty and shall (i) remain in full force and effect until payment in full of the Guaranteed Obligations (including any and all Guaranteed Obligations which remain outstanding after the Facility Termination Date) and all other amounts payable under its Guarantee, (ii) be binding upon each Guarantor and its successors and assigns, and (iii) inure to the benefit of and be enforceable by the Lenders, the Issuing Lenders, the Administrative Agent and their respective successors, transferees and assigns.

**Section 16.06**&nbsp;&nbsp;&nbsp;&nbsp; *Release of Guarantors*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) &nbsp;&nbsp;&nbsp;&nbsp; If (i) in compliance with the terms and provisions of this Agreement, any Guarantor ceases to constitute a Subsidiary of the Borrower or (ii) after giving effect to the release of any Guarantor, there is no Default under this Agreement, then such Guarantor shall, in the discretion of the Borrower upon notice in writing to the Administrative Agent, automatically be released from its obligations under this Agreement or any other Loan Document, including the Guarantee set forth in this <u>Article 16</u>, and thereafter such Person shall no longer constitute a Guarantor under this Agreement or any other Loan Documents.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp; At the request of the Borrower, the Administrative Agent shall, at the Borrower's expense, execute such documents as are reasonably necessary to acknowledge any such release in accordance with this <u>Section 16.06</u>, so long as the Borrower shall have provided the Administrative Agent a certificate, signed by an Authorized Officer of the Borrower, certifying as to satisfaction of one of the requirements set forth in <u>clause (a)</u> above.

[*Signature Pages Follow*]

------

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above.

---

| | |
|:---|:---|
| **DICK'S SPORTING GOODS, INC.,** | **DICK'S SPORTING GOODS, INC.,** |
| as the Borrower | as the Borrower |
| /s/ Navdeep Gupta | /s/ Navdeep Gupta |
| Name: <br>| Navdeep Gupta |
| Title: | Executive Vice President, Chief Financial Officer |

---

[Signature Page to Credit Agreement (DKS)]

------

---

| | | |
|:---|:---|:---|
| **ADMINISTRATIVE AGENT:** | Wells Fargo Bank, National Association, | Wells Fargo Bank, National Association, |
|  | as the Administrative Agent, as an Issuing Lender and as a Lender | as the Administrative Agent, as an Issuing Lender and as a Lender |
|  | By: | /s/ Carl Hinrichs |
|  | Name: <br>| Carl Hinrichs |
|  | Title: <br>| Executive Director |

---

[Signature Page to Credit Agreement (DKS)]

------

---

| | |
|:---|:---|
| Goldman Sachs Bank USA, as a Lender | Goldman Sachs Bank USA, as a Lender |
| By: | /s/ Robert Ehudin |
| Name:  | Robert Ehudin |
| Title: | Authorized Signatory |
| BANK OF AMERICA, N.A., a Lender and an Issuing Lender | BANK OF AMERICA, N.A., a Lender and an Issuing Lender |
| By: | /s/ Michelle L. Walker |
| Name: <br>| Michelle L. Walker |
| Title: | Director |
| PNC Bank, National Association, as a Lender | PNC Bank, National Association, as a Lender |
| By: | /s/ Scott Colcombe |
| Name: <br>| Scott Colcombe |
| Title: | MD - SVP |
| U.S. BANK, NATIONAL ASSOCIATION, as a Lender | U.S. BANK, NATIONAL ASSOCIATION, as a Lender |
| By: | /s/ Peter Hale |
| Name: <br>| Peter Hale |
| Title: | Vice President |
| The Toronto-Dominion Bank, New York Branch, as a Lender | The Toronto-Dominion Bank, New York Branch, as a Lender |
| By: | /s/ Victoria Roberts |
| Name: <br>| Victoria Roberts  |
| Title: | Authorized Signatory |
| TRUIST BANK, as a Lender | TRUIST BANK, as a Lender |
| By: | /s/ Lisa Garling |
| Name: <br>| Lisa Garling |
| Title: | Director |

---

[Signature Page to Credit Agreement (DKS)]

------

---

| | |
|:---|:---|
| Capital One, National Association, as a Lender | Capital One, National Association, as a Lender |
| By: | /s/ Madeline Cassidy |
| Name: <br>| Madeline Cassidy |
| Title: | Duly Authorized Signatory |
| CITIZENS BANK, N.A., as a Lender | CITIZENS BANK, N.A., as a Lender |
| By: | /s/ Carl S. Tabacjar, Jr. |
| Name: <br>| Carl S. Tabacjar, Jr. |
| Title: | Senior Vice President |
| HSBC BANK USA, N.A., as a Lender | HSBC BANK USA, N.A., as a Lender |
| By: | /s/ Stephanie Selby |
| Name: <br>| Stephanie Selby |
| Title: | Senior Vice President |

---

[Signature Page to Credit Agreement (DKS)]

------

## Exhibit 99.1

------

**Exhibit 99.1**<br>

---

| | |
|:---|:---|
| ![](image00001.jpg) | **PRESS RELEASE** |

---

#### DICK'S Sporting Goods Commences Exchange Offer and Consent Solicitation for Foot Locker's Senior Notes Due 2029

PITTSBURGH, June 6, 2025 - DICK'S Sporting Goods, Inc. ("DICK'S") (NYSE: DKS), a leading U.S. based full-line omni-channel sporting goods retailer, today announced that, in connection with its anticipated acquisition of Foot Locker, Inc. ("Foot Locker"), DICK'S has commenced an offer to eligible holders (the "Holders") to exchange (the "Exchange Offer") any and all outstanding 4.000% Senior Notes due 2029 issued by Foot Locker (the "Foot Locker Notes") for (1) up to $400 million aggregate principal amount of new 4.000% Senior Notes due 2029 issued by DICK'S (the "DICK'S Notes") in principal amount as set forth in the table below and (2) the Consent Payment (as defined below). **The Exchange Offer and Consent Solicitation (as defined below) are being conducted in connection with, and are conditioned upon, among other things, the closing of the merger of a subsidiary of DICK'S with and into Foot Locker, with Foot Locker surviving the merger as a wholly owned subsidiary of DICK'S (the "Acquisition"), which condition may not be waived by DICK'S.**

In conjunction with the Exchange Offer, DICK'S, on behalf of Foot Locker, is soliciting consents (the "Consent Solicitation") to adopt certain proposed amendments to the indenture governing the Foot Locker Notes to, among other changes, eliminate substantially all of the restrictive covenants, certain affirmative covenants and certain events of default (the "Proposed Amendments").

The following table sets forth the Consent Payment, the Exchange Consideration (as defined below), the Early Participation Premium (as defined below) and the Total Consideration (as defined below) for the Foot Locker Notes.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| Title of Foot Locker Notes | CUSIP/ISIN No. | Maturity Date | Principal Amount Outstanding | Consent Payment<sup>(1)</sup> | Exchange Consideration<sup>(2)</sup> | Early Participation Premium<sup>(3)</sup> | Total Consideration<sup>(4)</sup> |
| 4.000% Senior Notes due 2029 | 144A:<br> 344849AA2 / US344849AA21<br>Regulation S:<br> U3449AAA5 / USU3449AAA52 | 10/01/2029 | $400000000 | $2.50 to $5.00 | $970 principal <br> amount of <br> DICK'S<br> 4.000% Senior <br> Notes due 2029 | $30.00 principal<br> amount of <br> DICK'S <br> 4.000% Senior <br> Notes due 2029 | $1,000 principal <br> amount of <br> DICK'S <br> 4.000% Senior<br> Notes due 2029<br> and the Consent<br> Payment |

---

------

&nbsp;&nbsp;&nbsp;&nbsp;(1) Per $1,000 principal amount of Foot Locker Notes validly tendered and not validly withdrawn by the Early Participation Date, the Consent Payment will be an amount equal to the product of $2.50 multiplied by a fraction, the numerator of
 which is the aggregate principal amount of Foot Locker Notes outstanding as of the Early Participation Date and the denominator of which is the aggregate principal amount of Foot Locker Notes validly tendered and not validly withdrawn by
 the Early Participation Date. As a result, the Consent Payment for the Foot Locker Notes will range from $2.50 per $1,000 principal amount (if all Eligible Holders tender) to approximately $5.00 per $1,000 principal amount (if Eligible
 Holders tender a simple majority of the aggregate principal amount of the Foot Locker Notes). Any Consent Payment will be paid on the settlement date.

For the avoidance of doubt, an Eligible Holder that validly tenders Foot Locker Notes and delivers (and does not validly revoke) a consent prior to the Early Participation Date, but withdraws such Foot Locker Notes after the Early Participation Date but prior to the Expiration Date, will receive the Consent Payment, even if such Eligible Holder has withdrawn their Foot Locker Notes after the Early Participation Date or such holder is no longer the beneficial owner of such Foot Locker Notes at the Expiration Date.

Consents may not be revoked after the Consent Revocation Deadline (as defined herein).

&nbsp;&nbsp;&nbsp;&nbsp;(2) For each $1,000 principal amount of Foot Locker Notes accepted for exchange.

&nbsp;&nbsp;&nbsp;&nbsp;(3) For each $1,000 principal amount of Foot Locker Notes validly tendered and not validly withdrawn at or prior to the Early Participation Date and accepted for exchange. As discussed in more detail below, each Holder that validly tenders
 and does not validly withdraw their Foot Locker Notes at or prior to the Early Participation Date will receive a unique voluntary offer instruction number ("VOI number") in respect of the aggregate principal amount of Foot Locker Notes that
 such Holder validly tendered at or prior to the Early Participation Date (such VOI number, a "Early Participation VOI Number") and such Early Participation VOI Number shall evidence that such Holder was the holder of record of such Foot
 Locker Notes as of the Early Participation Date. On the settlement date, the Early Participation Premium (as defined herein) will be paid to each Holder whose Foot Locker Notes have been validly tendered and not validly withdrawn at or
 prior to the Early Participation Date and either (A) has not validly withdrawn the Foot Locker Notes held by such Holder at or prior to the Expiration Date or (B) if the Foot Locker Notes held by such Holder have been validly withdrawn at
 or prior to the Expiration Date, such Holder, prior to the Expiration Date, (i) has validly re-tendered, and has not validly withdrawn, such Foot Locker Notes and (ii) submitted the Early Participation VOI Number with respect to such
 tendered Foot Locker Notes. For the avoidance of doubt, a Holder that acquires Foot Locker Notes with an Early Participation VOI Number after the Early Participation Date and validly tenders and does not validly withdraw such Foot Locker
 Notes at or prior to the Expiration Date, along with the corresponding Early Participation VOI Number, is eligible to receive the Early Participation Premium in addition to the Exchange Consideration. To the extent a Holder tenders or
 re-tenders Foot Locker Notes at or prior to the Expiration Date with an Early Participation VOI Number that does not match the aggregate principal amount of Foot Locker Notes validly tendered, the tender may be rejected or consideration
 received by such Holder may be modified. See the Offering Memorandum and Consent Solicitation Statement (as defined herein) for more information.

&nbsp;&nbsp;&nbsp;&nbsp;(4) For each $1,000 principal amount of Foot Locker Notes. Includes the Consent Payment, $970 of Exchange Consideration and the Early Participation Premium. For the avoidance of doubt, (i) consents may not be revoked after the Consent
 Revocation Deadline, and (ii) unless the Exchange Offer is amended, in no event will any holder of Foot Locker Notes receive more than $1,000 aggregate principal amount of DICK'S Notes for each $1,000 aggregate principal amount of Foot
 Locker Notes accepted for exchange.

------

The Exchange Offer and Consent Solicitation are being made pursuant to the terms and subject to the conditions set forth in the offering memorandum and consent solicitation statement, dated as of June 6, 2025 (the "Offering Memorandum and Consent Solicitation Statement").

The Exchange Offer will expire at 5:00 p.m., New York City time, on August 1, 2025, unless extended (the "Expiration Date"). The settlement date will be promptly after the Expiration Date and is expected to occur no earlier than the second business day after the closing date of the Acquisition.

The Exchange Offer and Consent Solicitation are conditioned upon the tendering of at least a majority of the aggregate principal amount of Foot Locker Notes, although DICK'S may waive such condition at any time, and the closing of the Acquisition, which condition may not be waived by DICK'S. **The closing of the Acquisition is not conditioned upon the commencement or completion of the Exchange Offer or Consent Solicitation.**

DICK'S, in its sole discretion, may modify or terminate the Exchange Offer and may extend the Early Participation Date, the Expiration Date and/or the settlement date with respect to the Exchange Offer, subject to applicable law. Any such modification, termination or extension by DICK'S will automatically modify, terminate or extend the Consent Solicitation, as applicable.

As indicated in the table above, for each $1,000 principal amount of Foot Locker Notes validly tendered and not validly withdrawn by the Early Participation Date, Holders will be eligible to receive a cash payment of an amount equal to the product of $2.50 multiplied by a fraction, the numerator of which is the aggregate principal amount of Foot Locker Notes outstanding as of the Early Participation Date and the denominator of which is the aggregate principal amount of Foot Locker Notes validly tendered and not validly withdrawn by the Early Participation Date (such amount, the "Consent Payment"). Consents may not be revoked after the earlier of (i) 5:00 p.m., New York City time, on June 20, 2025, unless extended or terminated, and (ii) the date the supplemental indenture to the indenture governing the Foot Locker Notes implementing the Proposed Amendments is executed (the earlier of (i) and (ii), the "Consent Revocation Deadline").

------

For each $1,000 principal amount of Foot Locker Notes validly tendered and not validly withdrawn at or before 5:00 p.m., New York City time, on June 20, 2025, unless extended or terminated (such date and time, as the same may be extended, the "Early Participation Date") and accepted for exchange, Holders of such Foot Locker Notes will be eligible to receive an early participation premium, payable in principal amount of the DICK'S Notes, equal to $30.00 (the "Early Participation Premium"); provided that the Foot Locker Notes held by the applicable Holder have been validly tendered and not validly withdrawn at or prior to the Early Participation Date and either (A) has not validly withdrawn the Foot Locker Notes held by such Holder at or prior to the Expiration Date or (B) if the Foot Locker Notes held by such Holder have been validly withdrawn at or prior to the Expiration Date, such Holder, prior to the Expiration Date, (i) has validly re-tendered, and has not validly withdrawn, such Foot Locker Notes and (ii) submitted the Early Participation VOI Number with respect to such tendered Foot Locker Notes.

For each $1,000 principal amount of Foot Locker Notes validly tendered and not validly withdrawn prior to the Expiration Date and accepted for exchange, Holders of Foot Locker Notes will be eligible to receive $970 principal amount of DICK'S Notes (the "Exchange Consideration"). To be eligible to receive the Exchange Consideration, Holders must validly tender (and not validly withdraw) their Foot Locker Notes at or prior to the Expiration Date.

The DICK'S Notes will have the same interest payment dates, maturity date and interest rate as the Foot Locker Notes. The DICK'S Notes will replace the fixed redemption schedule currently included in the Foot Locker Notes with a customary investment grade redemption schedule, including a 3-month par call date and make-whole mechanism as further described in the Offering Memorandum and Consent Solicitation Statement

Documents relating to the Exchange Offer and Consent Solicitation will be distributed only to eligible holders of Foot Locker Notes who certify that they are either (a) a person that is in the "United States" and that it is a "Qualified Institutional Buyer" as defined in Rule 144A under the U.S. Securities Act of 1933, as amended (the "Securities Act"); or (b) a person that is outside of the "United States" and that (i) is not a "U.S. Person," (ii) is not an "EEA Retail Investor" or "UK Retail Investor," and (iii) in the case of persons located in the United Kingdom, is a "Relevant Person" (as defined in the Offering Memorandum and Consent Solicitation Statement). The complete terms and conditions of the Exchange Offer and Consent Solicitation are described in the Offering Memorandum and Consent Solicitation Statement, a copy of which may be obtained by contacting Global Bondholder Services Corporation, the exchange agent and information agent in connection with the Exchange Offer and Consent Solicitation, at (855) 654-2015 (U.S. toll-free) or (212) 430-3774 (banks and brokers) or Contact@gbsc-usa.com. The eligibility form is available electronically at: <u>https://gbsc-usa.com/eligibility/dicks</u>.

This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders or consents with respect to, any security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. The Exchange Offer and Consent Solicitation are being made solely pursuant to the Offering Memorandum and Consent Solicitation Statement and only to such persons and in such jurisdictions as is permitted under applicable law.

------

The DICK'S Notes have not been and will not be registered under the Securities Act or any state securities laws. Therefore, the DICK'S Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.

#### Forward-Looking Statements Involving Known and Unknown Risks and Uncertainties
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified as those that may predict, forecast, indicate or imply future results or performance and by forward-looking words such as "believe", "anticipate", "expect", "estimate", "predict", "intend", "plan", "project", "goal", "will", "will be", "will continue", "will result", "could", "may", "might" or any variations of such words or other words with similar meanings. Any statements about DICK'S, Foot Locker's or the combined company's plans, objectives, expectations, strategies, beliefs, or future performance or events constitute forward-looking statements. These statements are subject to known and unknown risks, uncertainties, assumptions, estimates, and other important factors that change over time, many of which may be beyond DICK'S', Foot Locker's and the combined company's control. DICK'S', Foot Locker's and the combined company's future performance and actual results may differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements should not be relied upon as a prediction of actual results. Forward-looking statements include statements regarding, among other things, the benefits of the Acquisition, including future financial and operating results and the combined company's plans, objectives, expectations, intentions, growth strategies and culture and other statements that are not historical facts.

------

Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements include, but are not limited to, current macroeconomic conditions, including prolonged inflationary pressures, potential changes to international trade relations, geopolitical conflicts and adverse changes in consumer disposable income; supply chain constraints, delays and disruptions; fluctuations in product costs and availability due to tariffs, currency exchange rate fluctuations, fuel price uncertainty and labor shortages; changes in consumer demand for products in certain categories and consumer lifestyle changes; intense competition in the sporting goods industry; the overall success of DICK'S', Foot Locker's and the combined company's strategic plans and initiatives; DICK'S', Foot Locker's and the combined company's vertical brand strategy and plans; DICK'S', Foot Locker's and the combined company's ability to optimize their respective distribution and fulfillment networks to efficiently deliver merchandise to their stores and the possibility of disruptions; DICK'S', Foot Locker's and the combined company's dependence on suppliers, distributors, and manufacturers to provide sufficient quantities of quality products in a timely fashion; the potential impacts of unauthorized use or disclosure of sensitive or confidential customer, employee, vendor or other information; the risk of problems with DICK'S', Foot Locker's and the combined company's information systems, including e-commerce platforms; DICK'S', Foot Locker's and the combined company's ability to attract and retain customers, executive officers and employees; increasing labor costs; the effects of the performance of professional sports teams within DICK'S', Foot Locker's and the combined company's core regions of operations; DICK'S', Foot Locker's and the combined company's ability to control expenses and manage inventory shrink; the seasonality of certain categories of DICK'S', Foot Locker's and the combined company's operations and weather-related risks; changes in applicable tax laws, regulations, treaties, interpretations and other guidance; product safety and labeling concerns; the projected range of capital expenditures of DICK'S, Foot Locker and the combined company, including costs associated with new store development, relocations and remodels and investments in technology; plans to return capital to stockholders through dividends and share repurchases, if any; DICK'S', Foot Locker's and the combined company's ability to meet market expectations; the influence of DICK'S' Class B common stockholders and associated possible scrutiny and public pressure; compliance and litigation risks; DICK'S', Foot Locker's and the combined company's ability to protect their respective intellectual property rights or respond to claims of infringement by third parties; the availability of adequate capital; obligations and other provisions related to DICK'S', Foot Locker's and the combined company's indebtedness; DICK'S', Foot Locker's and the combined company's future results of operations and financial condition; the occurrence of any event, change or other circumstance that could give rise to the right of one or both of the parties to terminate the Acquisition; the outcome of any legal proceedings that may be instituted against DICK'S or Foot Locker, including with respect to the Acquisition; the possibility that the Acquisition does not close when expected or at all because required regulatory or shareholder approvals or other conditions to closing are not received or satisfied on a timely basis or at all (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the Acquisition); the risk that the benefits from the Acquisition, including anticipated cost synergies, may not be fully realized or may take longer to realize than expected; the ability to promptly and effectively integrate the businesses of DICK'S and Foot Locker following the closing of the Acquisition; the dilution caused by the issuance of shares of DICK'S common stock in the Acquisition; the possibility that the Acquisition may be more expensive to complete than anticipated, including as a result of unexpected factors or events; the terms of the debt financing incurred in connection with the Acquisition; reputational risk and potential adverse reactions of DICK'S' or Foot Locker's customers, employees or other business partners; and the diversion of DICK'S' and Foot Locker's management's attention and time from ongoing business operations and opportunities due to the Acquisition. These factors are not necessarily all of the factors that could cause DICK'S', Foot Locker's or the combined company's actual results, performance or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other factors, including unknown or unpredictable factors, also could harm DICK'S', Foot Locker's or the combined company's results.

For additional information on these and other factors that could affect DICK'S' or Foot Locker's actual results, see the risk factors set forth in DICK'S' and Foot Locker's filings with the Securities and Exchange Commission (the "SEC"), including DICK'S' most recent Annual Report on Form 10-K, filed with the SEC on March 27, 2025, and its other filings with the SEC, and Foot Locker's most recent Annual Report on Form 10-K, filed with the SEC on March 27, 2025, and its other filings with the SEC. DICK'S and Foot Locker disclaim and do not undertake any obligation to update or revise any forward-looking statement in this communication, except as required by applicable law or regulation. Forward-looking statements included in this communication are made as of the date of this communication.

------

Additional Information about the Merger and Where to Find It

In connection with the Acquisition, DICK'S intends to file with the SEC a registration statement on Form S-4, which will include a proxy statement of Foot Locker that also constitutes a prospectus for the shares of DICK'S common stock to be offered in the Acquisition. Each of DICK'S and Foot Locker may also file other relevant documents with the SEC regarding the Acquisition. This communication is not a substitute for the proxy statement/prospectus or registration statement or any other document that DICK'S or Foot Locker may file with the SEC. The definitive proxy statement/prospectus (if and when available) will be mailed to shareholders of Foot Locker. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT DICK'S, FOOT LOCKER, THE ACQUISITION AND RELATED MATTERS. Investors and security holders will be able to obtain free copies of the registration statement and proxy statement/prospectus (if and when available) and other documents containing important information about DICK'S, Foot Locker and the Acquisition once such documents are filed with the SEC through the website maintained by the SEC at <u>www.sec.gov</u>. Copies of the documents filed with the SEC by DICK'S will be available free of charge on DICK'S' website at <u>https://investors.dicks.com</u>. Copies of the documents filed with the SEC by Foot Locker will be available free of charge on Foot Locker's website at <u>https://investors.footlocker-inc.com</u>.

#### Participants in the Solicitation
DICK'S, Foot Locker and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the Acquisition. Information about the directors and executive officers of DICK'S is set forth in DICK'S' proxy statement for its 2025 annual meeting of stockholders, which was filed with the SEC on May 2, 2025 and is available at [<u>https://www.sec.gov/ix?doc=/Archives/edgar/data/0001089063/000108906325000054/dks-20250501.htm</u>](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001089063/000108906325000054/dks-20250501.htm), under the headings "Corporate Governance," "Director Compensation," "Executive Compensation," "Transactions with Related Persons" and "Stock Ownership," DICK'S' Annual Report on Form 10-K for the fiscal year ended February 1, 2025, which was filed with the SEC on March 27, 2025 and is available at [<u>https://www.sec.gov/ix?doc=/Archives/edgar/data/1089063/000108906325000012/dks-20250201.htm</u>](https://www.sec.gov/ix?doc=/Archives/edgar/data/1089063/000108906325000012/dks-20250201.htm), and to the extent holdings of DICK'S securities by its directors or executive officers have changed since the amounts set forth in DICK'S' proxy statement for its 2025 annual meeting of stockholders, such changes have been or will be reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 or Statements of Changes in Beneficial Ownership on Form 4, which are filed with the SEC. Information about the directors and executive officers of Foot Locker is set forth in Foot Locker's proxy statement for its 2025 annual meeting of shareholders, which was filed with the SEC on April 10, 2025 and is available at [<u>https://www.sec.gov/ix?doc=/Archives/edgar/data/850209/000110465925033769/tm2425908-3_def14a.htm</u>](https://www.sec.gov/ix?doc=/Archives/edgar/data/850209/000110465925033769/tm2425908-3_def14a.htm), under the headings "Governance," "Director Compensation," "Executive Compensation" and "Shareholder Ownership," Foot Locker's Annual Report on Form 10-K for the fiscal year ended February 1, 2025, which was filed with the SEC on March 27, 2025 and is available at [<u>https://www.sec.gov/ix?doc=/Archives/edgar/data/850209/000143774925009620/floc20241213_10k.htm</u>](https://www.sec.gov/ix?doc=/Archives/edgar/data/850209/000143774925009620/floc20241213_10k.htm), and to the extent holdings of Foot Locker securities by its directors or executive officers have changed since the amounts set forth in Foot Locker's proxy statement for its 2025 annual meeting of shareholders, such changes have been or will be reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 or Statements of Changes in Beneficial Ownership on Form 4, which are filed with the SEC.

------

Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the Acquisition when such materials become available. Investors should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. Copies of the documents filed with the SEC by DICK'S and Foot Locker will be available free of charge through the website maintained by the SEC at <u>www.sec.gov</u>. Additionally, copies of documents filed with the SEC by DICK'S will be available free of charge on DICK'S' website at <u>https://investors.dicks.com</u> and those filed by Foot Locker will be available free of charge on Foot Locker's website at <u>https://investors.footlocker-inc.com</u>.

#### About DICK'S Sporting Goods, Inc.
DICK'S Sporting Goods (NYSE: DKS) creates confidence and excitement by inspiring, supporting and personally equipping all athletes to achieve their dreams. Founded in 1948 and headquartered in Pittsburgh, the leading omni-channel retailer serves athletes and outdoor enthusiasts in more than 850 DICK'S Sporting Goods, Golf Galaxy, Public Lands and Going Going Gone! stores, online, and through the DICK'S mobile app. DICK'S also owns and operates DICK'S House of Sport and Golf Galaxy Performance Center, as well as GameChanger, a youth sports mobile platform for live streaming, scheduling, communications and scorekeeping.

Driven by its belief that sports have the power to change lives, DICK'S has been a longtime champion for youth sports and, together with its Foundation, has donated millions of dollars to support under-resourced teams and athletes through the Sports Matter program and other community-based initiatives. Additional information about DICK'S business, corporate giving and employment opportunities can be found on dicks.com, investors.dicks.com, sportsmatter.org, dickssportinggoods.jobs and on Instagram, TikTok, Facebook and X.

#### Contacts:
Investor Relations:

Nate Gilch, Senior Director of Investor Relations

DICK'S Sporting Goods, Inc.

investors@dcsg.com

(724) 273-3400

Media Relations:

(724) 273-5552 or press@dcsg.com

<u>Category: Financial</u>

 

<br> ###

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## Exhibit 99.2

------

 **Exhibit 99.2**<br>

**** 

<br> #### UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION

#### <br>

#### Introduction

On May 15, 2025, DICK'S Sporting Goods, Inc., a Delaware corporation (the "Company" or "DICK'S"), entered into an Agreement and Plan of Merger (the "Merger Agreement") by and among the Company, RJS Sub LLC, a New York limited liability company and a wholly owned subsidiary of the Company ("Merger Sub"), and Foot Locker, Inc., a New York corporation ("Foot Locker"). The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, and at the closing of the transaction contemplated by the Merger Agreement, Merger Sub shall be merged with and into Foot Locker, with Foot Locker surviving as a wholly owned subsidiary of the Company (the "Merger").

The accompanying unaudited pro forma financial information is prepared in accordance with Article 11 of Regulation S-X, *Pro Forma Financial Information*. The unaudited pro forma condensed combined financial information as of and for the year ended February 1, 2025 is derived from DICK'S and Foot Locker's historical consolidated financial statements as included in the respective filings on Form 10-K, which are incorporated by reference.

The unaudited pro forma condensed combined financial information gives effect to the accounting for the Merger (the "Transaction Accounting Adjustments") and financing impacts (the "Financing Adjustments" and, collectively, the "Adjustments"). All terms defined in this section of the Offering Memorandum are used solely for the purposes of this section and do not apply to any other section of this Offering Memorandum.

In the accompanying unaudited pro forma condensed combined financial information, the historical consolidated financial statements of DICK'S and Foot Locker have been adjusted to depict the accounting for the Merger in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP"). The pro forma adjustments are based upon available information and certain assumptions that management believes are reasonable under the circumstances. All adjustments are preliminary and subject to change.

Under the terms of the Merger Agreement, each share of common stock, $0.01 par value per share, of Foot Locker ("Foot Locker Common Stock") issued and outstanding immediately prior to the effective time of the Merger (other than any shares owned by the Company, Foot Locker, or any of their subsidiaries) will be automatically converted into the right to receive, without interest, at the election of the holder of such share of Foot Locker Common Stock: (a) $24.00 per share in cash (the "Cash Merger Consideration") or (b) 0.1168 (the "Exchange Ratio") shares of common stock (the "Stock Merger Consideration") of the Company ("Company Common Stock") (individually under each scenario described below, the "Merger Consideration").

The Merger Agreement provides that:

&nbsp;&nbsp;&nbsp;&nbsp;• Each outstanding Foot Locker time-based restricted stock unit held by an employee and each outstanding performance stock unit will be converted based on the Stock Merger
 Consideration into a Company time-based restricted stock unit (with any applicable performance goals being deemed achieved at levels determined under the applicable award agreement (or plan if not addressed in the award agreement), which
 will otherwise continue to be subject to the same terms and conditions applicable to such award;

&nbsp;&nbsp;&nbsp;&nbsp;• Each outstanding Foot Locker restricted stock unit (including any deferred units) held by a non-employee director will become fully vested (to the extent unvested) and
 converted into cash based on the Cash Merger Consideration; and

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&nbsp;&nbsp;&nbsp;&nbsp;• Each outstanding Foot Locker option, whether or not vested (each, an "In-the-Money Option"), will be cancelled and converted into the right to receive an amount in cash equal
 to the product of (A) the total number of shares of Foot Locker Common Stock subject to such option multiplied by (B) the excess, if any, of the Cash Merger Consideration over the exercise price of such option (with any out-of-the-money
 options cancelled for no consideration).

In connection with the Merger Agreement, the Company entered a commitment letter, dated as of May 15, 2025, among the Company and Goldman Sachs Bank USA ("GS Bank"), pursuant to which GS Bank has agreed to provide, subject to the satisfaction of customary closing conditions, up to $2.4 billion of senior bridge term loans.

The unaudited pro forma condensed combined financial information assumes that DICK'S does not anticipate drawing down on the senior bridge term loans but instead financing the Merger through issuance of unsecured senior notes for an amount of $1.7 billion with a fixed interest rate of 6.4% per annum ("Debt Financing"). The Debt Financing, together with cash on hand, is assumed to be sufficient for purposes of financing the Cash Merger Consideration and expenses in connection with the Merger.

The Company has not issued any unsecured senior notes or drawn down on the senior bridge term loans, and any financing related to the Merger may be different from the amount assumed for purposes of the unaudited pro forma condensed combined financial information. These assumptions and expectations are subject to change, and the debt issuance costs to be incurred and related interest expense could vary significantly from what is assumed in the unaudited pro forma condensed combined financial information. Other factors that are subject to change include, but are not limited to, the timing of borrowings, the amount of cash on hand at the time of the closing, and inputs to interest rate determination on debt instruments issued.

The unaudited pro forma condensed combined financial information is presented under the following two scenarios:

&nbsp;&nbsp;&nbsp;&nbsp;• **Scenario A - Cash Merger Consideration:** Assumes all Foot Locker's shareholders elect the right to receive the consideration of $24.00 per share in cash.

&nbsp;&nbsp;&nbsp;&nbsp;• **Scenario B - Stock Merger Consideration:** Assumes all Foot Locker's shareholders elect the right to receive 0.1168 shares of Company Common Stock.

The Merger will be accounted for as a business combination using the acquisition method with DICK'S assumed to be the accounting acquirer in accordance with Accounting Standards Codification 805, *Business Combinations* ("ASC 805"). Under this method of accounting, the consideration transferred will be allocated to Foot Locker's assets acquired and liabilities assumed mostly based upon their estimated fair values at the closing date. Any differences between the fair value of the consideration transferred and the fair value of the assets acquired, and liabilities assumed will be recorded as goodwill. The process of valuing the net assets of Foot Locker at the closing date, the allocation of the consideration transferred, as well as evaluating accounting policies for conformity, is preliminary and represents DICK'S current best estimate and is subject to revision.

The unaudited pro forma condensed combined financial information and related notes are provided for illustrative purposes only and do not purport to represent what the combined company's actual results of operations or financial position would have been had the Merger been completed on the dates indicated, nor are they necessarily indicative of the combined company's future results of operations or financial position for any future period. The pro forma adjustments, which are described in the accompanying notes, may be revised as additional information becomes available and is evaluated. It is likely that the actual adjustments upon the completion of the Merger will differ from the pro forma adjustments, and it is possible the differences may be material.

The following unaudited pro forma condensed combined financial information gives effect to the Merger, which includes adjustments for the following:

&nbsp;&nbsp;&nbsp;&nbsp;• Certain reclassifications to conform Foot Locker's historical financial statement presentation to DICK'S historical financial statement presentation;

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&nbsp;&nbsp;&nbsp;&nbsp;• Adjustments to reflect purchase accounting under ASC 805;

&nbsp;&nbsp;&nbsp;&nbsp;• Proceeds and uses of the financing entered in connection with the Merger; and

&nbsp;&nbsp;&nbsp;&nbsp;• Non-recurring transaction costs in connection with the Merger.

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** |
| **As of February 1, 2025** | **As of February 1, 2025** | **As of February 1, 2025** | **As of February 1, 2025** | **As of February 1, 2025** | **As of February 1, 2025** | **As of February 1, 2025** | **As of February 1, 2025** | **As of February 1, 2025** | **As of February 1, 2025** | **As of February 1, 2025** |
| **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** | **(in thousands)** |
|  | | | **Scenario A - Cash Merger Consideration** | **Scenario A - Cash Merger Consideration** | **Scenario A - Cash Merger Consideration** | **Scenario A - Cash Merger Consideration** | **Scenario A - Cash Merger Consideration** | **Scenario B - Stock Merger** <br> **Consideration** | **Scenario B - Stock Merger** <br> **Consideration** | **Scenario B - Stock Merger** <br> **Consideration** |
|  | **DICK'S** <br> **Sporting Goods,** <br> **Inc. (Historical)** | **Foot Locker, Inc.**<br> **(Historical, adjusted** <br> **for reclassifications)** | **Transaction** <br> **Accounting**<br> **Adjustments** | **Notes** | **Financing**<br> **Adjustments** | **Notes** | **Pro Forma** <br> **Combined** | **Transaction** <br> **Accounting**<br> **Adjustments** | **Notes** | **Pro Forma <br> Combined** |
| **ASSETS** | | | | | | | | | | |
| CURRENT ASSETS |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cash and cash equivalents | $1689940 | $401000 | $(2302029) | **3A1** | $1719207 | **3N** | $1363661 | $(16087) | **3A2** | $1930396 |
|  |  |  | (56363) | **3D** | - |  |  | (56363) | **3D** |  |
|  |  |  | (2000) | **3E** | - |  |  | (2000) | **3E** |  |
|  |  |  | (23294) | **3G** |  |  |  | (23294) | **3G** |  |
|  |  |  | (7500) | **3H** | - |  |  | (7500) | **3H** |  |
|  |  |  | (55300) | **3I** | - |  |  | (55300) | **3I** |  |
| &nbsp;&nbsp;&nbsp; Accounts receivable, net | 214250 | 156000 | - |  | - |  | 370250 | - |  | 370250 |
| &nbsp;&nbsp;&nbsp; Income taxes receivable | 4920 | - | - |  | - |  | 4920 | - |  | 4920 |
| &nbsp;&nbsp;&nbsp; Inventories, net | 3349830 | 1525000 | - |  | - |  | 4874830 | - |  | 4874830 |
| &nbsp;&nbsp;&nbsp; Prepaid expenses and other current assets | 158767 | 177000 | - |  | - |  | 335767 | - |  | 335767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current assets | 5417707 | 2259000 | (2446486) |  | 1719207 |  | 6949428 | (160544) |  | 7516163 |
| &nbsp;&nbsp;&nbsp; Property and equipment, net | 2069914 | 910000 | 103000 | **3B** | - |  | 3082914 | 103000 | **3B** | 3082914 |
| &nbsp;&nbsp;&nbsp; Operating lease assets | 2367317 | 2061000 | 72000 | **3K** | - |  | 4500317 | 72000 | **3K** | 4500317 |
| &nbsp;&nbsp;&nbsp; Intangible assets, net | 58598 | 365000 | (145000) | **3C1** | - |  | 278598 | (345000) | **3C2** | 78598 |
| &nbsp;&nbsp;&nbsp; Goodwill | 245857 | 759000 | (575047) | **3M1** | - |  | 429810 | (742544) | **3M2** | 262313 |
| &nbsp;&nbsp;&nbsp; Deferred income taxes | 52684 | 143000 | 2137 | **3L1** | - |  | 197821 | 54137 | **3L2** | 249821 |
| &nbsp;&nbsp;&nbsp; Other assets | 246617 | 251000 | (4444) | **3E** | - |  | 493173 | (4444) | **3E** | 493173 |
| **TOTAL ASSETS** | $**10458694** | $**6748000** | $**(2993840)** |  | $**1719207** |  | $**15932061** | $**(1023395)** |  | $**16183299** |
|  **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |  |  |  |  |  |  |  |  |
| CURRENT LIABILITIES |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Accounts payable | $1497743 | $378000 | - |  | - |  | $1875743 | - |  | $1875743 |
| &nbsp;&nbsp;&nbsp; Accrued expenses | 653324 | 327000 | - |  | - |  | 980324 | - |  | 980324 |
| &nbsp;&nbsp;&nbsp; Operating lease liabilities | 503236 | 507000 | - |  | - |  | 1010236 | - |  | 1010236 |
| &nbsp;&nbsp;&nbsp; Income taxes payable | 30718 | - | - |  | - |  | 30718 | - |  | 30718 |
| &nbsp;&nbsp;&nbsp; Deferred revenue and other liabilities | 395041 | 118000 | - |  | - |  | 513041 | - |  | 513041 |
| &nbsp;&nbsp;&nbsp; Total current liabilities | 3080062 | 1330000 | - |  | - |  | 4410062 | - |  | 4410062 |

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** |
| **As of February 1, 2025**<br> **(in thousands)** | **As of February 1, 2025**<br> **(in thousands)** | **As of February 1, 2025**<br> **(in thousands)** | **As of February 1, 2025**<br> **(in thousands)** | **As of February 1, 2025**<br> **(in thousands)** | **As of February 1, 2025**<br> **(in thousands)** | **As of February 1, 2025**<br> **(in thousands)** | **As of February 1, 2025**<br> **(in thousands)** | **As of February 1, 2025**<br> **(in thousands)** | **As of February 1, 2025**<br> **(in thousands)** | **As of February 1, 2025**<br> **(in thousands)** |
|  | | | **Scenario A - Cash Merger Consideration** | **Scenario A - Cash Merger Consideration** | **Scenario A - Cash Merger Consideration** | **Scenario A - Cash Merger Consideration** | **Scenario A - Cash Merger Consideration** | **Scenario B - Stock Merger** <br> **Consideration** | **Scenario B - Stock Merger** <br> **Consideration** | **Scenario B - Stock Merger** <br> **Consideration** |
|  | **DICK'S**<br> **Sporting**<br> **Goods, Inc.** <br> (Historical) | **Foot Locker,** <br> **Inc. (Historical,** <br> **adjusted for** <br> **reclassifications)** | **Transaction** <br> **Accounting**<br> **Adjustments** | **Notes** | **Financing**<br> **Adjustments** | **Notes** | **Pro Forma** <br> **Combined** | **Transaction** <br> **Accounting**<br> **Adjustments** | **Notes** | **Pro Forma** <br> **Combined** |
| LONG-TERM LIABILITIES |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Revolving credit borrowings | - | - | - |  | - |  | - | - |  |  |
| &nbsp;&nbsp;&nbsp; Long-term debt and obligations under finance leases | 1484217 | 441000 | 1851 | **3E** | 1719207 | **3N** | 3626275 | 1851 | **3E** | 1907068 |
|  |  |  | (20000) | **3J** | - |  |  | (20000) | **3J** |  |
| &nbsp;&nbsp;&nbsp; Long-term operating lease liabilities | 2500307 | 1831000 | - |  | - |  | 4331307 | - |  | 4331307 |
| &nbsp;&nbsp;&nbsp; Other long-term liabilities | 195844 | 237000 | - |  | - |  | 432844 | - |  | 432844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total long-term liabilities | 4180368 | 2509000 | (18149) |  | 1719207 |  | 8390426 | (18149) |  | 6671219 |
| &nbsp;&nbsp;&nbsp; COMMITMENTS AND CONTINGENCIES | - | - | - |  | - |  | - | - |  | - |
| STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Preferred stock | - | - | - |  | - |  | - | - |  | - |
| &nbsp;&nbsp;&nbsp; Common stock | 567 | 802000 | (802000) | **3F** | - |  | 567 | 111 | **3A2** | 678 |
|  |  |  |  |  | - |  |  | (802000) | **3F** |  |
| &nbsp;&nbsp;&nbsp; Class B common stock | 236 | - | - |  | - |  | 236 | - |  | 236 |
| &nbsp;&nbsp;&nbsp; Additional paid-in capital | 1495329 | - | 12966 | **3A1** | - |  | 1508295 | 1983300 | **3A2** | 3478629 |
| &nbsp;&nbsp;&nbsp; Retained earnings | 6392513 | 2494000 | (56363) | **3D** | - |  | 6312856 | (56363) | **3D** | 6312856 |
|  |  |  | (2494000) | **3F** | - |  |  | (2494000) | **3F** |  |
|  |  |  | (23294) | **3G** | - |  |  | (23294) | **3G** |  |
| &nbsp;&nbsp;&nbsp; Accumulated other comprehensive loss | (755) | (383000) | 383000 | **3F** | - |  | (755) | 383000 | **3F** | (755 |
| &nbsp;&nbsp;&nbsp; Treasury stock, at cost | (4689626) | (4000) | 4000 | **3F** | - |  | (4689626) | 4000 | **3F** | (4689626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total stockholders' equity | 3198264 | 2909000 | (2975691) |  | - |  | 3131573 | (1005246) |  | 5102018 |
|  **TOTAL LIABILITIES AND**<br> **STOCKHOLDERS' EQUITY** | $**10458694** | $**6748000** | $**(2993840)** |  | $**1719207** |  | $**15932061** | $**(1023395)** |  | $**16183299** |

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See accompanying notes to unaudited pro forma condensed combined financial information.

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Unaudited Pro Forma Condensed Combined Statement of Operations** | **Unaudited Pro Forma Condensed Combined Statement of Operations** | **Unaudited Pro Forma Condensed Combined Statement of Operations** | **Unaudited Pro Forma Condensed Combined Statement of Operations** | **Unaudited Pro Forma Condensed Combined Statement of Operations** | **Unaudited Pro Forma Condensed Combined Statement of Operations** | **Unaudited Pro Forma Condensed Combined Statement of Operations** | **Unaudited Pro Forma Condensed Combined Statement of Operations** | **Unaudited Pro Forma Condensed Combined Statement of Operations** | **Unaudited Pro Forma Condensed Combined Statement of Operations** | **Unaudited Pro Forma Condensed Combined Statement of Operations** |
| **For the year ended February 1, 2025** | **For the year ended February 1, 2025** | **For the year ended February 1, 2025** | **For the year ended February 1, 2025** | **For the year ended February 1, 2025** | **For the year ended February 1, 2025** | **For the year ended February 1, 2025** | **For the year ended February 1, 2025** | **For the year ended February 1, 2025** | **For the year ended February 1, 2025** | **For the year ended February 1, 2025** |
| **(in thousands, except per share amounts)** | **(in thousands, except per share amounts)** | **(in thousands, except per share amounts)** | **(in thousands, except per share amounts)** | **(in thousands, except per share amounts)** | **(in thousands, except per share amounts)** | **(in thousands, except per share amounts)** | **(in thousands, except per share amounts)** | **(in thousands, except per share amounts)** | **(in thousands, except per share amounts)** | **(in thousands, except per share amounts)** |
|  | | | **Scenario A - Cash Merger Consideration** | **Scenario A - Cash Merger Consideration** | **Scenario A - Cash Merger Consideration** | **Scenario A - Cash Merger Consideration** | **Scenario A - Cash Merger Consideration** | **Scenario B - Stock Merger** <br> **Consideration** | **Scenario B - Stock Merger** <br> **Consideration** | **Scenario B - Stock Merger** <br> **Consideration** |
|  | **DICK'S Sporting** <br> **Goods, Inc.<br> (Historical)** | **Foot Locker, Inc.**<br> **(Historical, adjusted** <br> **for reclassifications)** | **Transaction Accounting**<br> **Adjustments** | **Notes** | **Financing**<br> **Adjustments** | **Notes** | **Pro Forma Combined** | **Transaction** <br> **Accounting** <br> **Adjustments** | **Notes** | **Pro Forma** <br> **Combined** |
| Net sales | $13442849 | $7988000 | - |  | - |  | $21430849 | - |  | $21430849 |
| Cost of goods sold, including occupancy <br> and distribution costs | 8617153 | 5785000 | 8737 | **4A** | - |  | 14428890 | 8737 | **4A** | 14428890 |
|  |  |  | 18000 | **4J** |  |  |  | 18000 | **4J** |  |
| **GROSS PROFIT** | **4825696** | **2203000** | **(26737)** |  | **-** |  | **7001959** | **(26737)** |  | **7001959** |
| Selling, general and administrative expenses | 3294272 | 2100000 | 2296 | **4A** | - |  | 5476324 | 2296 | **4A** | 5475439 |
|  |  |  | (4115) | **4B1** |  |  |  | (5000) | **4B2** |  |
|  |  |  | 48500 | **4C** |  |  |  | 48500 | **4C** |  |
|  |  |  | 4577 | **4D** | - |  |  | 4577 | **4D** |  |
|  |  |  | 23294 | **4E** | - |  |  | 23294 | **4E** |  |
|  |  |  | 7500 | **4F** | - |  |  | 7500 | **4F** |  |
| Pre-opening expenses | 57492 | - | - |  | - |  | 57492 | - |  | 57492 |
| **INCOME FROM OPERATIONS** | **1473932** | **103000** | **(108789)** |  | **-** |  | **1468143** | **(107904)** |  | **1469028** |
| Interest expense | 52987 | 24000 | 7863 | **4C** | 110941 | **4K** | 198714 | 7863 | **4C** | 87773 |
|  |  |  | 429 | **4G** |  |  |  | 429 | **4G** |  |
|  |  |  | 2494 | **4H** | - |  |  | 2494 | **4H** |  |
| Other expense (income) | (98088) | 28000 | - |  | - |  | (70088) | - |  | (70088) |
| **INCOME BEFORE INCOME TAXES** | **1519033** | **51000** | **(119575)** |  | **(110941)** |  | **1339517** | **(118690)** |  | **1451343** |
| Provision (benefit) for income taxes | 353725 | 33000 | (18871) | **4I1** | (28845) | **4L** | 339009 | (18641) | **4I2** | 368084 |
| **NET INCOME** | $**1165308** | $**18000** | $**(100704)** |  | $**(82096)** |  | $**1000508** | $**(100049)** |  | $**1083259** |
| **EARNINGS PER COMMON SHARE:** |  |  |  |  |  |  |  |  |  |  |
| Basic | $14.48 | $0.19 |  |  |  |  | $12.43 |  |  | $11.83 |
| Diluted | $14.05 | $0.19 |  |  |  |  | $12.04 |  |  | $11.50 |
| **WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:** |  |  |  |  |  |  |  |  |  |  |
| Basic | 80468 | 95000 |  |  |  |  | 80468 |  |  | 91593 |
| Diluted | 82929 | 95500 |  |  |  |  | 83104 |  |  | 94229 |

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See accompanying notes to unaudited pro forma condensed combined financial information.

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#### Note 1. Notes to Unaudited Pro Forma Condensed Combined Financial Information

#### Basis of Presentation

The accompanying unaudited pro forma condensed combined financial information was prepared in accordance with Article 11 of Regulation S-X, *Pro Forma Financial Information*. The historical information of DICK'S and Foot Locker is presented in accordance with accounting principles generally accepted in the United States of America.

The unaudited pro forma condensed combined financial information is prepared using the acquisition method of accounting in accordance with the business combination accounting guidance under ASC 805, with DICK'S as the accounting acquirer for the Merger. Under ASC 805, assets acquired and liabilities assumed in a business combination are recognized and measured at the Merger date fair value. Transaction costs associated with a business combination are expensed as incurred. The excess of consideration over the fair value of assets acquired and liabilities assumed, if any, is allocated to goodwill. Accordingly, the Merger Consideration allocation and related adjustments reflected in this unaudited pro forma condensed combined financial information are preliminary and subject to revision based on a final determination of fair value.

The Unaudited Pro Forma Condensed Combined Balance Sheet is presented as if the Merger had occurred on February 1, 2025, and the Unaudited Pro Forma Condensed Combined Statement of Operations for the year ended February 1, 2025, gives effect to the Merger as if it occurred on February 4, 2024.

The unaudited pro forma condensed combined financial information does not reflect any anticipated synergies or dis-synergies, operating efficiencies, or cost savings that may result from the integration costs that may be incurred. The pro forma adjustments represent DICK'S best estimates and are based upon currently available information and certain assumptions that DICK'S believes are reasonable under the circumstances.

The unaudited pro forma condensed combined financial information is provided for informational purposes only and may not be indicative of the operating results that would have occurred if the Merger had been completed as of the dates set forth above, nor is it indicative of the future results of DICK's following the Merger. In determining the preliminary estimate of fair values of assets acquired and liabilities assumed of Foot Locker, DICK'S used publicly available benchmarking information as well as a variety of other assumptions, including market participant assumptions. The pro forma purchase price allocation relating to the Merger is preliminary and subject to change, as additional information becomes available and as additional analyses are performed. There can be no assurances that the valuations will not result in material changes to this purchase price allocation. Any increase or decrease in fair values of the net assets as compared with the unaudited pro forma condensed combined financial information may change the amount of the total acquisition consideration allocated to goodwill and other assets and liabilities and may impact the Unaudited Pro Forma Condensed Combined Statements of Income due to adjustments in the depreciation and amortization expense of the adjusted assets.

#### Note 2. Accounting Policies and Reclassifications
During the preparation of this unaudited pro forma condensed combined financial information, management performed a preliminary review of Foot Locker's financial information to identify differences in accounting policies compared to those of DICK'S and differences in financial statement presentation compared to the presentation of DICK'S. At the time of preparing the unaudited pro forma condensed combined financial information, other than the adjustments described herein, DICK'S is not aware of any other material differences. However, DICK'S will continue to perform its detailed review of Foot Locker's accounting policies. Upon completion of that review, differences may be identified between the accounting policies of DICK'S and Foot Locker that when conformed could have a material impact on the unaudited pro forma condensed combined financial information.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** | **Unaudited Pro Forma Condensed Combined Balance Sheet** |  |
| **As of February 1, 2025** | **As of February 1, 2025** | **As of February 1, 2025** | **As of February 1, 2025** | **As of February 1, 2025** |  |
| *(in thousands)* | *(in thousands)* | *(in thousands)* | *(in thousands)* | *(in thousands)* |  |
| **DICK'S Sporting Goods, Inc.** | **Foot Locker, Inc.** | **Foot Locker,** <br> **Inc.** | **Reclassification** <br> **Adjustments** | **Notes** | **Foot Locker,** <br> **Inc.** |
| **Assets** |  |  |  |  |  |
| **Current assets** |  |  |  |  |  |
| Cash and cash equivalents | Cash and cash equivalents | $401000 |  |  | $401000 |
| Accounts receivable, net |  | - | 156000 | (2h) | 156000 |
| Income taxes receivable |  | - |  |  | - |
| Inventories, net | Merchandise inventories | 1525000 |  |  | 1525000 |
| Prepaid expenses and other current assets | Other current assets | 323000 | 10000 | (2b) | 177000 |
|  |  |  | (156000) | (2h) |  |
|  | Assets held for sale | 10000 | (10000) | (2b) |  |
| **Total Current assets** |  | 2259000 | - |  | 2259000 |
| Property and equipment, net | Property and equipment, net | 910000 |  |  | 910000 |
| Operating lease assets | Operating lease right-of-use assets | 2061000 |  |  | 2061000 |
| Intangible assets, net | Other intangible assets, net | 365000 |  |  | 365000 |
| Goodwill | Goodwill | 759000 |  |  | 759000 |
| Deferred income taxes | Deferred taxes | 143000 |  |  | 143000 |
| Other assets | Other assets | 136000 | 115000 | (2c) | 251000 |
|  | Minority investments | 115000 | (115000) | (2c) | - |
| **Total Assets** |  | $**6748000** | **-** |  | $**6748000** |
| **Liabilities and Stockholders' equity** |  |  |  |  |  |
| **Current liabilities** |  |  |  |  |  |
| Accounts payable | Accounts payable | $378000 |  |  | $378000 |
| Accrued expenses | Accrued and other liabilities | 434000 | (48000) | (2a) | 327000 |
|  |  |  | (28000) | (2f) |  |
|  |  |  | (31000) | (2g) |  |
| Operating lease liabilities | Current portion of lease obligations | 507000 |  |  | 507000 |
|  | Current portion of debt and obligations under finance leases | 5000 | (5000) | (2e) |  |
| Income taxes payable |  | - |  |  | - |
|  | Liabilities held for sale | 6000 | (6000) | (2d) |  |
| Deferred revenue and other liabilities |  | - | 48000 | (2a) | 118000 |
|  |  |  | 6000 | (2d) |  |
|  |  |  | 5000 | (2e) |  |
|  |  |  | 28000 | (2f) |  |
|  |  |  | 31000 | (2g) |  |
| **Total Current liabilities** |  | **1330000** | **-** |  | **1330000** |
| Revolving credit borrowings |  |  |  |  |  |
| Long-term operating lease liabilities | Long-term lease obligations | 1831000 |  |  | 1831000 |
| Senior notes due 2032 and 2052 | Long-term debt and obligations under finance leases | 441000 |  |  | 441000 |
| Other long-term liabilities | Other liabilities | 237000 |  |  | 237000 |
| **Total Long-term liabilities** |  | **2509000** | **-** |  | **2509000** |
| Commitments and contingencies |  |  |  |  |  |
| **Stockholders' Equity** |  |  |  |  |  |
| Common stock | Common stock | 802000 |  |  | 802000 |
| Class B common stock |  | - |  |  | - |
| Additional paid-in capital |  | - | - |  | - |
| Retained earnings | Retained earnings | 2494000 | - |  | 2494000 |
| Accumulated other comprehensive loss | Accumulated other comprehensive loss | (383000) |  |  | (383000) |
| Treasury stock, at cost | Treasury stock at cost | (4000) |  |  | (4000) |
| **Total stockholders' equity** |  | 2909000 | - |  | 2909000 |
| **Total liabilities and stockholders' equity** |  | $**6748000** | **-** |  | $**6748000** |

---

------

(2a) Reclassification of Customer Loyalty Program from "Accrued and Other Liabilities" to "Deferred revenue and other liabilities".

(2b) Reclassification of "Assets held for sale" to "Prepaid expenses and other current assets".

(2c) Reclassification of "Minority Investments" to "Other assets".

(2d) Reclassification of "Liabilities held for sale" to "Deferred revenue and other liabilities".

(2e) Reclassification of "Current portion of debt and obligations under finance leases" to "Deferred revenue and other liabilities".

(2f) Reclassification of Gift Card Liability from "Accrued and Other Liabilities" to "Deferred revenue and other liabilities".

(2g) Reclassification of Customer Deposit from "Accrued and Other Liabilities" to "Deferred revenue and other liabilities".

(2h) Reclassification of Net Receivables from "Other current assets" to "Accounts receivable, net".

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Unaudited Pro Forma Condensed Combined Statement of Operations** | **Unaudited Pro Forma Condensed Combined Statement of Operations** | **Unaudited Pro Forma Condensed Combined Statement of Operations** | **Unaudited Pro Forma Condensed Combined Statement of Operations** | **Unaudited Pro Forma Condensed Combined Statement of Operations** |  |
| **For the year ended February 1, 2025** | **For the year ended February 1, 2025** | **For the year ended February 1, 2025** | **For the year ended February 1, 2025** | **For the year ended February 1, 2025** |  |
| *(in thousands)* | *(in thousands)* | *(in thousands)* | *(in thousands)* | *(in thousands)* |  |
| **DICK'S Sporting Goods, Inc.** | **Foot Locker, Inc.** | **Foot Locker,** <br> **Inc.** | **Reclassification** <br> **Adjustments** | **Notes** | **Foot Locker,** <br> **Inc.** |
| Net sales | Sales | $7971000 | 17000 | (2i) | $7988000 |
|  | Licensing revenue | 17000 | (17000) | (2i) |  |
| Cost of goods sold, including occupancy and distribution costs | Cost of sales | 5666000 | 156000 | (2j) | 5785000 |
|  |  |  | (37000) | (2n) |  |
| **GROSS PROFIT** |  | **2322000** | **(119000)** |  | **2203000** |
| Selling, general and administrative expenses | Selling, general and administrative expenses | 1920000 | 41000 | (2j) | 2100000 |
|  |  |  | 5000 | (2k) |  |
|  |  |  | 97000 | (2l) |  |
|  |  |  | 37000 | (2n) |  |
|  | Depreciation and amortization | 202000 | (197000) | (2j) |  |
|  |  |  | (5000) | (2k) |  |
|  | Impairment and other <br>| 97000 | (97000) | (2l) | - |
| Pre-opening expenses |  |  | - |  | - |
| **INCOME FROM OPERATIONS** |  | **103000** | **-** |  | **103000** |
| Interest expense | Interest expense, net | 8000 | 16000 | (2m) | 24000 |
| Other expense (income) | Other expense (income), net | 44000 | (16000) | (2m) | 28000 |
| **INCOME BEFORE INCOME TAXES** |  | **51000** | **-** |  | **51000** |
| Provision for income taxes | Income tax expense (benefit) | 33000 |  |  | 33000 |
| **NET INCOME** |  | $**18000** | **-** |  | $**18000** |

---

------

(2i) Reclassification from "Licensing revenue" to "Net Sales".

(2j) Reclassification of Depreciation expense from "Depreciation and amortization" to "Selling, general and administrative expenses" and "Cost of goods sold, including occupancy and distribution costs" for Non-Store Assets and Store Assets, respectively.

(2k) Reclassification of Amortization expense from "Depreciation and amortization" to "Selling, general and administrative expenses".

(2l) Reclassification from "Impairment and other" to "Selling, general and administrative expenses".

(2m) Reclassification of Interest income from "Interest expense, net" to "Other expense (income)".

(2n) Reclassification of buyers' compensation from "Cost of goods sold, including occupancy and distribution costs" to "Selling, general and administrative expenses".

#### Note 3. Adjustments to Unaudited Pro Forma Condensed Combined Balance Sheet

#### Transaction Accounting Adjustments

The adjustments included in the Unaudited Pro Forma Condensed Combined Balance Sheet as of February 1, 2025 are detailed below:

#### Adjustments to Unaudited Pro Forma Condensed Combined Balance Sheet:

(**3A1**) The accounting for the Merger is based on currently available information and is considered preliminary. The final accounting for the Merger may differ materially from that presented in these unaudited pro forma condensed combined financial information. Refer to the following table for the preliminary estimated fair value of consideration transferred under the Cash Merger Consideration scenario:

#### Scenario A: Cash Merger Consideration

---

| | |
|:---|:---|
| *(in thousands, except per share data; figures below may not foot due to rounding of shares)* | **As of February 1, 2025** |
| Foot Locker's shares outstanding as of May 12, 2025 | 95248 |
| Price per share as per the Merger Agreement (actual amount) | $24.00 |
| **Cash Consideration paid to shareholders** | $**2285942** |
| Add: Settlement of equity awards <sup>(1)</sup> | $16087 |
| **Adjusted Cash consideration paid to shareholders** | $**2302029** |
| Add: Pre-combination value of replaced equity awards for employees <sup>(2)</sup> | $12966 |
| **Fair value of consideration transferred** | $**2314995** |

---

------

<sup>(1)</sup> Represents the estimated fair value of outstanding Foot Locker's deferred stock units ("DSUs"), restricted stock units ("RSUs"), performance stock units ("PSUs") and in-the-money options that are expected to be settled in cash at close.

<sup>(2)</sup> Represents the estimated fair value of outstanding Foot Locker's RSUs (other than non-employee director RSUs) and Foot Locker's performance stock units ("PSUs") granted to employees attributable to pre-combination services.

(**3A2**) The accounting for the Merger is based on currently available information and is considered preliminary. The final accounting for the Merger may differ materially from that presented in these unaudited pro forma condensed combined financial information. Refer to the following table for the preliminary estimated fair value of consideration transferred under both the Stock Merger Consideration scenario:

#### Scenario B: Stock Merger Consideration

---

| | |
|:---|:---|
| *(in thousands, except per share data; figures below may not foot due to rounding of shares)* | **As of February 1, 2025** |
| Foot Locker's shares outstanding as of May 12, 2025 | 95248 |
| Exchange Ratio as per the Merger Agreement of DICK'S shares for each share of Foot Locker | 0.1168 |
| **Total estimated outstanding shares to be issued by DICK'S** | **11125** |
| DICK'S stock price as on May 28, 2025 (actual amount) | $177.12 |
| **Share consideration** | $**1970445** |
| Add: Accelerated vesting of equity awards to non-employees <sup>(1)</sup> | 16087 |
| Add: Pre-combination value of replaced equity awards for employees <sup>(2)</sup> | 12966 |
| **Fair value of consideration transferred** | $**1999498** |

---

<sup>(1)</sup> Represents the estimated fair value of outstanding Foot Locker's DSUs and RSUs granted to non-employee directors as well as In-the-Money Options granted to employees. These RSUs will accelerate vest and be settled in cash upon closing.

<sup>(2)</sup> Represents the estimated fair value of outstanding Foot Locker's RSUs (other than non-employee director RSUs) and Foot Locker's PSUs granted to employees attributable to pre-combination services.

---

| | |
|:---|:---|
| *(in thousands)* | **As of February 1, 2025** |
| Common stock | $111 |
| Additional paid-in-capital | 1983300 |
| Cash | 16087 |
| **Fair value of consideration transferred** | $**1999498** |

---

The actual value of DICK'S common stock to be issued will depend on the per share price of DICK'S common stock at the closing date of the Merger, and therefore, the actual Stock Merger Consideration will fluctuate with the market price of DICK's common stock until the Merger is completed. The following table shows the effect of changes in DICK'S stock price and the resulting impact on the estimated Stock Merger Consideration:

---

| | | |
|:---|:---|:---|
| *(in thousands, except per share data)* |  |  |
| **Share Price Sensitivity** | **DICK'S stock price** | **Consideration Transferred** |
| As presented | $177.12 | 1999498 |
| 10% increase | $194.83 | 2196543 |
| 10% decrease | $159.41 | 1802454 |

---

------

#### Preliminary Purchase Price Allocation

The determination of the fair value of the identifiable assets of Foot Locker and the allocation of the estimated Merger consideration to these identifiable assets and liabilities is preliminary and is pending finalization of various estimates, inputs and analyses. The final purchase price allocation will be determined when DICK'S has completed the detailed valuations and necessary calculations. The final Merger consideration allocation may be materially different than that reflected in the preliminary estimated Merger consideration allocation presented herein. Any increase or decrease in fair values of the net assets as compared with the unaudited pro forma condensed combined financial information may change the allocation of total Merger consideration to goodwill and other assets and liabilities and may impact the combined company statement of operations due to adjustments in the depreciation and amortization of the adjusted assets.

---

| | | |
|:---|:---|:---|
|  | **Scenario A- Cash Merger**<br> **Consideration** | **Scenario B- Stock Merger**<br> **Consideration** |
| *(in thousands)* | **Fair value** | **Fair value** |
| Cash and cash equivalents | $401000 | $401000 |
| Accounts receivable, net | 156000 | 156000 |
| Inventories, net | 1525000 | 1525000 |
| Prepaid expenses and other current assets | 177000 | 177000 |
| Property and equipment, net | 1013000 | 1013000 |
| Operating lease assets | 2133000 | 2133000 |
| Deferred income taxes | 145137 | 197137 |
| Intangible assets, net | 220000 | 20000 |
| Other assets | 246556 | 246556 |
| **Total assets** | $**6016693** | $**5868693** |
| Accounts payable | $378000 | $378000 |
| Accrued expenses | 389800 | 389800 |
| Current portion of lease obligations | 507000 | 507000 |
| Deferred revenue and other liabilities | 118000 | 118000 |
| Long-term debt and obligations under finance leases | 424851 | 424851 |
| Long-term operating lease liabilities | 1831000 | 1831000 |
| Other long-term liabilities | 237000 | 237000 |
| **Net assets acquired** | **2131042** | **1983042** |
| Goodwill | 183953 | $16456 |
| **Fair value of consideration transferred** | $**2314995** | $**1999498** |

---

Goodwill represents the excess of the preliminary estimated Merger Consideration over the estimated fair value of the underlying net assets acquired. Goodwill will not be amortized but instead will be reviewed for impairment annually, or more frequently if facts and circumstances warrant a review. Goodwill is attributable to the assembled workforce of Foot Locker, planned growth in new markets, and synergies expected to be achieved from the combined operations of DICK'S and Foot Locker. Goodwill recognized in the Merger is not expected to be deductible for tax purposes.

(**3B**) Reflects the preliminary estimated fair value adjustment to property and equipment acquired in the Merger. The fair value of property and equipment is subject to change.

------

---

| | | | |
|:---|:---|:---|:---|
| **Fair value of Property and Equipment, net:** | | | |
| *(In thousands)* | **Carrying Value as on** <br> **February 1, 2025** | **Step-up** | **Fair value** |
| Land | $3000 | $2000 | $5000 |
| Buildings | 30000 | 13000 | 43000 |
| Furniture, fixtures, equipment | 364000 | 46000 | 410000 |
| Software development costs | 60000 | - | 60000 |
| Assets under finance leases | 45000 | - | 45000 |
| Alterations to leased and owned buildings | 408000 | 42000 | 450000 |
| **Total property, plant and equipment acquired and pro forma adjustment** | $**910000** | $**103000** | $**1013000** |

---

(**3C1**) Reflects the preliminary estimated asset fair value adjustment to the identifiable intangible assets acquired, primarily consisting of customer relationships, developed technology, and tradenames and trademarks. The fair value of intangible assets is subject to change as the Company finalizes various estimates, inputs and analyses.

#### Scenario A: Cash Merger Consideration

---

| | | | |
|:---|:---|:---|:---|
| **Fair value of Intangible assets:** | | | |
| *(In thousands)* | **Carrying Value as on** <br> **February 1, 2025** | **Step-**<br> **up/(down)** | **Fair value** |
| Lease acquisition costs | $1000 | $(1000) | $- |
| Developed technology | - | 5000 | 5000 |
| Customer relationships | - | 5000 | 5000 |
| Trademarks & tradenames | 364000 | (154000) | 210000 |
| **Total identifiable intangible assets and pro forma adjustment** | $**365000** | $**(145000)** | $**220000** |

---

(**3C2**) Reflects the preliminary estimated asset fair value adjustment to the identifiable intangible assets acquired, primarily consisting of customer relationships, developed technology, and tradenames and trademarks. The fair value of intangible assets is subject to change as the Company finalizes various estimates, inputs and analyses.

#### Scenario B: Stock Merger Consideration

---

| | | | |
|:---|:---|:---|:---|
| **Fair value of Intangible assets:** | | | |
| *(In thousands)* | **Carrying Value as on** <br> **February 1, 2025** | **Step-down** | **Fair value** |
| Lease acquisition costs | $1000 | $(1000) | $- |
| Developed technology | - | - | - |
| Customer relationships | - | - | - |
| Trademarks & tradenames | 364000 | (344000) | 20000 |
| **Total identifiable intangible assets and pro forma adjustment** | $**365000** | $**(345000)** | $**20000** |

---

(**3D**) Reflects one-time non-recurring transaction-related costs of approximately $56.4 million incurred prior to, or concurrent with, the closing of the Merger including bank fees, legal fees, consulting fees, structuring & upfront fees paid for senior bridge term loans, exchange fee related to senior note exchange and other transaction costs estimated to be incurred by DICK'S. No amount was incurred or accrued for as of the balance sheet date.

------

(**3E**) Reflects a $2.0 million decrease to Cash against the decrease in Long-term debt and obligations under finance leases related to the payment made to noteholders for the bond fee associated with the exchange of the Foot Locker's existing Senior Notes; a $3.9 million increase to Long-term debt and obligations under finance leases against the increase in Goodwill related to the reversal of outstanding deferred financing cost balance of Senior Notes; and a $4.4 million decrease to Other assets against the increase in Goodwill related to the reversal of outstanding deferred financing cost balance of Revolving credit facility.

(**3F**) Reflects the elimination of Foot Locker's historical equity.

(**3G**) Reflects the cash payment for the severance benefits total $23.3 million including severance pay and the acceleration of replaced awards by executives.

(**3H**) Reflects increase in the liabilities assumed of $7.5 million related to retention bonus for certain Foot Locker employees and associated payment at close of the Merger. <br>

(**3I**) Reflects increase in the liabilities assumed of $55.3 million related to estimated seller's transaction cost and associated payment at close of the Merger.

(**3J**) Reflects the fair value adjustment of $20.0 million related to Foot Locker's outstanding Senior Notes assumed and not extinguished as of the closing of the Merger.

(**3K**) Reflects a preliminary purchase accounting adjustment of $72.0 million to record favorable contractual lease balance when compared to market terms.

(**3L1**) Represents a $2.1 million adjustment to deferred tax assets under Scenario A primarily as a result of the pro forma adjustments for assets acquired and liabilities assumed - specifically, relative to fair market value adjustments to assets and an adjustment to the acquired deferred tax liability for Goodwill which resets as a result of the Transaction. These estimates are preliminary as adjustments to our deferred taxes could change due to further refinement of our statutory income tax rates used to measure our deferred taxes, changes in judgment regarding realizability of assets, and changes in the estimates of the fair values of assets acquired and liabilities assumed that may occur in conjunction with the closing of the Transaction. These changes in estimates could be material.

(**3L2**) Represents a $54.1 million adjustment to deferred tax assets under Scenario B primarily as a result of the pro forma adjustments for assets acquired and liabilities assumed - specifically, relative to fair market value adjustments to assets and an adjustment to the acquired deferred tax liability for Component 1 Goodwill which resets as a result of the Transaction. These estimates are preliminary as adjustments to our deferred taxes could change due to further refinement of our statutory income tax rates used to measure our deferred taxes, changes in judgment regarding realizability of assets, and changes in the estimates of the fair values of assets acquired and liabilities assumed that may occur in conjunction with the closing of the Transaction. These changes in estimates could be material.

(**3M1, 3M2**) Represents the adjustment to goodwill based on the purchase price allocation in respect of both Scenario A and B, as described above.

---

| | | |
|:---|:---|:---|
| *(in thousands)* | **Scenario A- Cash Merger**<br> **Consideration** | **Scenario B- Stock Merger**<br> **Consideration** |
| Goodwill resulting from the Merger | $183953 | $16456 |
| Less: Elimination of Foot Locker's historical Goodwill | (759000) | (759000) |
| **Pro forma adjustment** | $**(575047)** | $**(742544)** |

---

------

#### Financing Adjustments

(**3N**) Reflects the adjustment related to the net proceeds received from the Debt Financing issued as part of the financing for the Cash Merger Consideration in Scenario A, as described above.

---

| | |
|:---|:---|
| *(in thousands)* | **As of February 1, 2025** |
| Proceeds from the unsecured senior notes | $1732000 |
| Payment of financing costs | (12793) |
| **Pro forma adjustment** | $**1719207** |

---

#### Note 4. Adjustments to Unaudited Pro Forma Condensed Combined Statement of Operations
The adjustments included in the Unaudited Pro Forma Condensed Combined Statement of Operations for the year ended February 1, 2025 are as follows:

#### Transaction Accounting Adjustments

(**4A**) Reflects adjustment to depreciation expense, on a straight line-basis based on the preliminary fair value of Property and equipment, net and the related useful life. Depreciation expense is split between "Cost of goods sold, including occupancy and distribution costs" and "Selling, general and administrative expenses".

---

| | | | |
|:---|:---|:---|:---|
| *(In thousands)* | **Useful Life** | **Fair Value** | **Depreciation expense for the** <br> **year ended February 1, 2025** |
| Land | n/a | $5000 | $- |
| Buildings | Maximum of 50 | 43000 | 1313 |
| Furniture, fixtures, equipment | 3-10 | 410000 | 138000 |
| Software development costs | 2-5 | 60000 | 30000 |
| Assets under finance leases | 7-10 | 45000 | 5000 |
| Alterations to leased and owned buildings | 7 | 450000 | 34000 |
| **Total property and equipment acquired** |  | $**1013000** | $**208313** |
| Less: Historical depreciation expense |  |  | (197280) |
| **Pro forma adjustment for incremental depreciation expense** |  |  | $**11033** |

---

(**4B1**) Reflects adjustment to amortization expense, on a straight-line basis based on the preliminary fair value of Intangible assets, net and the related useful life.

#### Scenario A: Cash Merger Consideration

---

| | | | |
|:---|:---|:---|:---|
| *(In thousands)* | **Useful Life** | **Fair Value** | **Amortization expense for the year** <br> **ended February 1, 2025** |
| Lease acquisition costs | n/a | $- | $- |
| Developed technology | 10 | 5000 | 500 |
| Customer relationships | 13 | 5000 | 385 |
| Trademarks & tradenames | n/a | 210000 | - |
| **Total identifiable intangible assets** |  | $**220000** | **885** |
| Less: Historical Amortization expense |  |  | 5000 |
| **Pro forma adjustment for incremental amortization expense** |  |  | $**(4115)** |

---

------

(**4B2**) Reflects adjustment to amortization expense, on a straight-line basis based on the preliminary fair value of Intangible assets, net and the related useful life.

#### Scenario B: Stock Merger Consideration

---

| | | | |
|:---|:---|:---|:---|
| *(In thousands)* | **Useful Life** | **Fair Value** | **Amortization expense for the year** <br> **ended February 1, 2025** |
| Lease acquisition costs | n/a | $- | $- |
| Developed technology | 10 | - | - |
| Customer relationships | 13 | - | - |
| Trademarks & tradenames | n/a | 20000 | - |
| **Total identifiable intangible assets** |  | $**20000** | $**-** |
| Less: Historical Amortization expense |  |  | 5000 |
| **Pro forma adjustment for incremental amortization expense** |  |  | $**(5000)** |

---

(**4C**) Reflects estimated non-recurring transaction-related expenses of $56.4 million incurred by DICK'S, including legal, accounting and regulatory fees directly associated with the Merger. Out of these expenses, $48.5 million are charged under Selling, general and administrative expenses and $7.9 million pertaining to structuring & upfront fee on senior bridge term loans are charged as Interest expense. These non-recurring expenses are not anticipated to affect the Unaudited Pro Forma Condensed Combined Statement of Operations beyond twelve months after the closing date.

(**4D**) Represents the adjustment to record the elimination of Foot Locker's historical stock-based compensation expense of $14.5 million and recognition of new stock-based compensation expense of $19.1 million (net amount of $4.6 million) for the post-combination portion of the Foot Locker's RSUs and PSUs that are expected to be replaced by DICK'S RSUs and PSUs, respectively, at the closing of the Merger.

(**4E**) Represents the adjustment to DICK'S selling, general and administrative expenses to record a one-time post- combination expense related to paid severance costs of $23.3 million for executives of Foot Locker, including cash severance and the acceleration of unvested Foot Locker's RSUs and PSUs held by executives.

(**4F**) The adjustment represents $7.5 million of additional cash retention bonus to certain employees of Foot Locker that remain employed six months after the closing of the Merger.

(**4G**) Reflects the adjustment to record amortization of exchange fee of $0.4 million out of the total of $2.0 million, incurred on the same.

(**4H**) Reflects the adjustment to record interest expense for accretion of the preliminary fair value of the Foot Locker's outstanding Senior Notes assumed and not extinguished as of the closing of the Merger. It also reflects the reversal of historical amortization of transaction fees related to both Senior Notes and Revolving credit facility, since it was already being recorded in the income statement of Foot Locker.

(**4I1**) Reflects estimated income tax impact of $18.9 million related to the transaction accounting adjustments. Tax-related adjustments are based upon an estimated statutory tax rate of 26% and include the tax impacts of certain non-deductible compensation and transaction costs. The estimated blended statutory tax rate used for the unaudited pro forma condensed combined financial information will likely vary from the actual effective tax rates in periods as of and subsequent to the completion of the Transaction.

(**4I2**) Reflects estimated income tax impact of $18.6 million related to the transaction accounting adjustments. Tax-related adjustments are based upon an estimated statutory tax rate of 26% and include the tax impacts of certain non-deductible compensation and transaction costs. The estimated blended statutory tax rate used for the unaudited pro forma condensed combined financial information will likely vary from the actual effective tax rates in periods as of and subsequent to the completion of the Transaction.

------

(**4J**) Represents an adjustment of $18.0 million to record amortization expense for favorable contractual lease term when compared to market.

#### Financing Adjustments

(**4K**) Reflects the adjustment related to the interest expense and amortization of issuance costs related to the Debt Financing assumed as part of financing the Cash Merger Consideration in Scenario A, as described above.

---

| | |
|:---|:---|
| *(in thousands)* | **For the year ended February 1,** <br> **2025** |
| Interest expense on unsecured senior notes | $110365 |
| Amortization of debt issuance costs on unsecured senior notes | 576 |
| **Pro forma adjustment** | $**110941** |

---

(**4L**) Reflects estimated income tax impact of $28.8 million related to the financing adjustments. Tax-related adjustments are based upon an estimated statutory tax rate of 26%. The estimated blended statutory tax rate used for the unaudited pro forma condensed combined financial information will likely vary from the actual effective tax rates in periods as of and subsequent to the completion of the Transaction.

#### Note 5. Earnings Per Share
The following tables set forth the computation of pro forma basic and diluted earnings per share for the year ended February 1, 2025.

---

| | | |
|:---|:---|:---|
| *(in thousands, except per share count and per share data)* | **Scenario A- Cash Merger**<br> **Consideration** | **Scenario B- Stock Merger**<br> **Consideration** |
| **Numerator (basic and diluted):** | **For the year ended February 1,**<br> **2025** | **For the year ended February** <br> **1, 2025** |
| Pro forma net income attributable to common shares | $1000508 | $1083259 |
| **Denominator:** |  |  |
| Weighted-average number of common shares outstanding - basic | 80468 | 91593 |
| Weighted-average number of common shares outstanding - diluted | 83104 | 94229 |
| **Pro forma earnings per share:** |  |  |
| Basic | $12.43 | $11.83 |
| Diluted | $12.04 | $11.50 |

---

---

| | | |
|:---|:---|:---|
| *(in thousands)* | **Scenario A- Cash Merger**<br> **Consideration** | **Scenario B- Stock Merger**<br> **Consideration** |
|  | **For the year ended** <br> **February 1, 2025** | **For the year ended** <br> **February 1, 2025** |
| **Denominator for Basic** |  |  |
| Historical weighted-average number of common shares outstanding | 80468 | 80468 |
| Shares of DICK'S common stock issued as consideration transferred | - | 11125 |
| **Total weighted average common shares outstanding (basic):** | 80468 | 91593 |
| **Denominator for Diluted** |  |  |
| Historical weighted-average number of common shares outstanding | 82929 | 82929 |
| Shares of DICK'S common stock issued as consideration transferred | - | 11125 |
| Replacement of Foot Locker's employee PSU and RSU awards | 175 | 175 |
| **Total weighted average common shares outstanding (diluted):** | 83104 | 94229 |

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