Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

MASTER ASSIGNMENT, ASSIGNMENT OF LIENS, AND AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT AGREEMENT 

This MASTER ASSIGNMENT, ASSIGNMENT OF LIENS, AND AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”)
dated as of October 29, 2021 (the “Effective Date”), is among USD Partners LP, a Delaware limited partnership (the “US Borrower”), USD Terminals Canada ULC, an unlimited liability company subsisting under the
laws of the Province of British Columbia, Canada (the “Canadian Borrower” and, together with the US Borrower, the “Borrowers” and, each a “Borrower”), the Guarantors (as defined in the Credit
Agreement described below) party hereto, Citibank, N.A., as resigning administrative agent (the “Existing Agent”), Bank of Montreal (“BMO”), as the Successor Agent (as defined below), and the other financial
institutions executing this Agreement as Exiting Lenders (as defined below) and as Continuing Lenders (as defined below). 
 INTRODUCTION

 A. WHEREAS, the Borrowers, the Existing Agent, the L/C Issuers (as defined in the Credit Agreement), the Swing Line Lender (as
defined in the Credit Agreement), and the lenders party thereto from time to time (the “Lenders”) are parties to that certain Amended and Restated Credit Agreement dated as of November 2, 2018 (as amended, restated, amended and
restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”; the defined terms of which are used herein unless otherwise defined herein). 

B. WHEREAS, the Existing Agent desires to resign as Administrative Agent and Swing Line Lender under the Credit Agreement and the other Loan
Documents, and the Lenders desire to appoint BMO as Successor Agent (as defined below), and BMO desires to accept such appointment and to become the Swing Line Lender, in each case, as more particularly described in
Section 2 hereof. 
 C. WHEREAS, together with the Borrowers, each Lender wishes to decrease the Aggregate
Commitments under the Credit Agreement to $275,000,000. 
 D. WHEREAS, each Person identified as an “Exiting Lender” on the
signature pages hereto (each an “Exiting Lender” and, collectively, the “Exiting Lenders”) has requested to exit the credit facility evidenced by the Credit Agreement and terminate their respective Commitments
thereunder. 
 E. WHEREAS, each Lender immediately prior to the Effective Date that is not an Exiting Lender (each a “Current
Lender” and, collectively, the “Current Lenders”) and each Person identified as a “New Lender” on the signature pages hereto (each a “New Lender” and, collectively, the “New
Lenders”, and together with the Current Lenders, collectively, the “Continuing Lenders”) wishes to (i) purchase and assume from the Exiting Lenders all of the outstanding Loans made by the Exiting Lenders and other
rights and obligations of the Exiting Lenders as Lenders under the Credit Agreement and the other Loan Documents and (ii) reallocate their rights and obligations as a Lender under the Credit Agreement and the other Loan Documents among
themselves. 

 F. WHEREAS, the Borrowers and the Continuing Lenders have agreed to make certain amendments
to the Credit Agreement, including without limitation the extension of the Maturity Date thereunder, subject to the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of the premises and the mutual covenants, representations, and warranties contained herein, and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

Section 1. Defined Terms; Other Definitional Provisions. Section 1.02(a), (b) and (c) of the Credit Agreement
apply to this Agreement, mutatis mutandis. 
 Section 2. Resignation of Existing Agent; Appointment and Acceptance by
Successor Agent; Assignment of Liens; Further Assurances. 
 (a) Resignation of Existing Agent. Immediately prior to giving
effect to Sections 3 and 4 below and effective as of the Effective Date, pursuant to Section 10.06 of the Credit Agreement, the Existing Agent hereby resigns as Administrative Agent and Swing Line Lender under the Credit Agreement
and the other Loan Documents, including as “Mortgagee”, “Beneficiary”, “Agent”, “collateral agent”, and in any other equivalent capacity, as applicable under each of the Loan Documents upon the Effective Date;
provided that, for the avoidance of doubt, notwithstanding anything set forth in Section 10.06 of the Credit Agreement, the Existing Agent is not resigning as an L/C Issuer under the Credit Agreement and shall not be discharged from its duties
and obligations under the Credit Agreement or the other Loan Documents in its capacity as such L/C Issuer. Effective as of the Effective Date, regardless of any notice or other requirements set forth in Section 10.06 of the Credit Agreement,
the Existing Agent’s rights, powers, privileges and duties (other than such rights expressly provided herein or that otherwise survive in accordance with the terms of the Credit Agreement and the other Loan Documents) as Administrative Agent,
Swing Line Lender, “Mortgagee”, “Beneficiary”, “Agent”, “collateral agent” and in any other equivalent capacity, as applicable, shall be terminated, without any further act or deed on the part of the Existing
Agent or any of the parties to the Credit Agreement or the other Loan Documents. After the Existing Agent’s resignation hereunder and under the other Loan Documents, the provisions of Article X and Section 11.04 of the Credit Agreement
shall continue in effect for the benefit of the Existing Agent, its sub-agents, and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while Existing Agent
was acting (x) as Administrative Agent and Swing Line Lender under the Credit Agreement, or (y) to facilitate the Agency Appointment (as defined below), or the transfer of agency and assignment of Liens contemplated hereby, in any case,
whether prior to, on, or after the Effective Date. 
 (b) Appointment of Successor Agent. Immediately prior to giving effect to
Sections 3 and 4 below and effective as of the Effective Date, (i) the Lenders party hereto hereby appoint, in accordance with Section 10.06 of the Credit Agreement, BMO as successor administrative agent, including as
“Mortgagee”, “Beneficiary”, “Agent”, “Secured Party”, “collateral agent”, and in any other equivalent capacity, as applicable, under the Credit Agreement and the other Loan Documents (in any and all
of such capacities, the “Successor Agent”) (the “Agency Appointment”), (ii) the Successor Agent hereby accepts its Agency Appointment, (iii) the Borrowers hereby consent to such Agency Appointment,
(iv) the Successor Agent, as the successor 

  
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administrative agent, shall succeed to, and be vested with, all the rights, powers, privileges and duties of the Administrative Agent under the Credit Agreement and any other Loan Documents AS-IS and WHERE-IS, and (v) the Existing Agent shall be discharged from its duties and obligations as Administrative Agent under the Credit Agreement and the other Loan
Documents from and after the Effective Date (including, without limitation, that certain Administrative Agent Fee Letter dated September 24, 2018, between the Borrowers and the Existing Agent, which shall be of no further force and effect).

 (c) Appointment of New Swing Line Lender. Immediately prior to giving effect to Sections 3 and 4 below and effective
as of the Effective Date, (i) the Borrowers hereby appoint, in accordance with Section 10.06 of the Credit Agreement, BMO as Swing Line Lender under the Credit Agreement and the other Loan Documents, (ii) BMO hereby accepts its
appointment as Swing Line Lender, (iii) BMO, as Swing Line Lender, shall succeed to, and be vested with, all rights, powers, privileges and duties of the Swing Line Lender under the Credit Agreement and any other Loan Documents, and
(iv) Citibank, N.A. shall be discharged from its duties and obligations as Swing Line Lender under the Credit Agreement and the other Loan Documents from and after the Effective Date; provided that, in accordance with Section 10.06(d) of
the Credit Agreement, the Existing Agent shall retain all of the rights of the Swing Line Lender provided for hereunder with respect to the Swing Line Loans made by it and outstanding as of the Effective Date. 

(d) Assignment of Loan Documents and Liens. The Existing Agent hereby transfers, assigns, grants and conveys unto the Successor Agent
all of its right, title, and interest in and to the Credit Agreement and the other Loan Documents (including, without limitation, the Guaranty and the Collateral Documents), together with any riders, addenda, exhibits, schedules, and attachments
thereto, all Uniform Commercial Code and Personal Property Security Act financing statements filed in connection therewith, all real property security registrations registered in connection therewith, and any and all Collateral in support of the
obligations of the Borrowers and Guarantors under the Credit Agreement and the other Loan Documents, together with all attendant Liens, rights, title, assignments and interests (including security interests) pertaining to or arising from the
Collateral Documents, including, but not limited to, those set forth on Annex B hereto (all of the foregoing, collectively, the “Assigned Liens”), in each case, without representation, warranty or recourse. The parties hereto
agree that Citibank, N.A., in its individual capacity and in its capacity as the Existing Agent, shall not bear any responsibility or liability for any actions taken or omitted to be taken by the Successor Agent or any Affiliate of the Successor
Agent under this Agreement, the Credit Agreement, the Loan Documents, or the transactions contemplated hereby or thereby. Notwithstanding the foregoing, the parties hereto agree that neither BMO, in its individual capacity and in its capacity as the
Successor Agent, nor any of its Affiliates, shall bear any responsibility or liability for any actions taken or omitted to be taken by the Existing Agent or any Affiliate of the Existing Agent under this Agreement, the Credit Agreement, the other
Loan Documents, or the transactions contemplated thereby. It is the intention and understanding of the Existing Agent, the Successor Agent, and each Loan Party that any exchange of information under this Agreement that is otherwise protected against
disclosure by privilege, doctrine or rule of confidentiality (such information, “Subject Information”), whether before or after the Effective Date (i) shall not waive any applicable privilege, doctrine or rule of protection
from disclosure, (ii) shall not diminish the confidentiality of the Subject Information, and (iii) shall not be asserted as a waiver of any such privilege, doctrine, or rule by the Existing Agent, the Successor Agent, or any Loan Party.

  
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 (e) Collateral Matters. The Existing Agent covenants and agrees that it will, at the
expense of the Borrowers, (x) execute all documents as may be reasonably requested by the Successor Agent to transfer to the Successor Agent the rights and privileges of the Existing Agent as Administrative Agent, “Beneficiary”,
“Mortgagee”, “Agent”, “collateral agent”, or any other equivalent capacity under the applicable Loans Documents and (y) take all actions reasonably requested by the Successor Agent or its representatives to
facilitate the transfer of information to the Successor Agent in connection with the applicable Loan Documents, including, but not limited to the following: 

(i) the Existing Agent agrees to deliver all possessory Collateral in the Existing Agent’s possession as of the Effective Date to the
Successor Agent on the Effective Date (or, if requested by the Successor Agent after the Effective Date, reasonably promptly after such request), and the Successor Agent agrees to take possession thereof upon such tender by the Existing Agent; 

(ii) in order to give record notice of the assignment of the Assigned Liens set forth in this Agreement, the Existing Agent agrees, at
Borrowers’ expense and Successor Agent’s request, to cause to be prepared, in each case in form and substance reasonably acceptable to Successor Agent, an Assignment, Amendment and Reaffirmation of Mortgage, Assignment, Security Agreement
and Fixture Filing (each an “Oklahoma Mortgage Amendment”) with respect to each Oklahoma Mortgage (as defined in Annex B), and to cause each Oklahoma Mortgage Amendment to be filed in the county where the applicable Oklahoma
Mortgage being amended has been filed; 
 (iii) in order to give record notice of the assignment of the Assigned Liens set forth in this
Agreement, the Existing Agent agrees, at Borrowers’ expense and Successor Agent’s request, to cause to be prepared, in each case in form and substance reasonably acceptable to Successor Agent, an Assignment, Amendment and Reaffirmation of
Mortgage, Assignment, Security Agreement and Fixture Filing (each a “Wyoming Mortgage Amendment”) with respect to each Wyoming Mortgage (as defined in Annex B), and to cause each Wyoming Mortgage Amendment to be filed in the
county where the applicable Wyoming Mortgage being amended has been filed; 
 (iv) in order to give record notice of the assignment of the
fixed charges registered in favor of the Existing Agent at the Alberta Land Titles Office in respect of the Assigned Liens constituted by the Canadian Debentures (including, for certainty, instrument number 142 358 139 registered against the real
property of the Canadian Borrower located in the Province of Alberta and legally described as Plan 1322469; Block 1; Lot 1; excepting thereout all mines and minerals), the Existing Agent agrees, at the Borrowers’ expense and Successor
Agent’s request, to cause to be prepared a registerable transfer of mortgage in respect of such Assigned Liens, in form and substance reasonably satisfactory to the Successor Agent (the “Canadian Transfer of Mortgage”), and to
cause such Canadian Transfer of Mortgage to be filed with the Alberta Land Titles Office; and 

  
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 (v) the Existing Agent, as resigning collateral agent, shall enter into a Luxembourg law
governed master security assignment and confirmation agreement among the Existing Agent, the Successor Agent, as successor collateral agent, the Luxembourg Loan Parties, as pledgors and companies, and the other Loan Parties to be parties thereto, in
relation to the Luxembourg Security Documents in form and substance reasonably acceptable to the Successor Agent; 
 provided that, without
limiting the generality of the foregoing, if and to the extent that any right, title or interest in and to any Assigned Lien shall continue to be in the name of the Existing Agent (including any reference to the Existing Agent or a sub-agent thereof in any publicly filed document) on and from the Effective Date, the Existing Agent (or sub-agent thereof, as applicable) shall, for such limited purpose only
and only until such filing is modified to reflect the interests of the Successor Agent, be deemed to be a collateral representative of the Successor Agent solely for the purpose of perfecting the security interest in the Collateral or holding any
right, title or interest in or to such Assigned Lien (provided that the parties hereto agree that the Existing Agent’s (or its sub-agent’s, as applicable) role as such collateral representative shall
impose no further duties, obligations, or liabilities on the Existing Agent (or sub-agent, as applicable), including without limitation, any duty to take any type of direction regarding any enforcement or
remedial action to be taken against such collateral, whether such direction comes from the Successor Agent or otherwise). 
 (f)
Limitation of Liability. The Existing Agent does not make any representation or warranty, nor shall it have any responsibility, other than its obligations expressly set forth in this Agreement, to the Successor Agent, any Lender or any other
party hereto, with respect to (a) the accuracy of any recitals, statements, representations or warranties contained in the Credit Agreement (including the Register), any Loan Document or in any certificate or other document referred to or
provided for in, or received by the Successor Agent or any Lender thereunder, (b) the value, validity, genuineness, execution, effectiveness, legality, enforceability or sufficiency of the Credit Agreement, the Loan Documents or any other
document referred to or provided for therein, or any failure by any Loan Party or any other person or entity to perform any of its obligations thereunder, or the existence, value, perfection or priority of any lien or security interest or other
collateral security or the financial or other condition of any Loan Party, or (c) any other matter relating to the Credit Agreement or any other Loan Document or any extension of credit thereunder. The Successor Agent agrees that it has made,
and will continue to make, independently and without reliance upon the Successor Agent, and based on such documents and information as it shall deem appropriate at the time, its own credit decisions in taking or not taking action under the Credit
Agreement and the other Loan Documents and that the Existing Agent is not obligated to share any information, including any “know your customer” information, with respect to any Loan Party or any Lender with the Successor Agent. 

(g) Waiver of Notices. The Loan Parties, each Exiting Lender and each Lender hereby waive any consent, notice, timing or other
requirement of the Credit Agreement or the other Loan Documents related to the resignation of the Existing Agent or the appointment or designation of the Successor Agent, the resignation of Citibank, N.A. as Swing Line Lender or the appointment or
designation of BMO as Swing Line Lender, and any sharing of the Register by the Existing Agent with the Successor Agent. 

  
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 (h) Cost and Expenses. The Borrowers hereby agree to reimburse the Existing Agent
promptly upon demand for all of its reasonable out-of-pocket costs and expenses (including, without limitation, the reasonable fees, charges and disbursements of outside
legal counsel to the Existing Agent) incurred in connection with any action taken by the Existing Agent in connection with this Agreement. 

Section 3. Commitment Reduction. Immediately after giving effect to Section 2 above and
immediately prior to giving effect to Section 4 below, the parties to this Agreement hereby agree that as of the Effective Date the Aggregate Commitments shall be reduced ratably among the Lenders to $275,000,000. The
Lenders hereby waive all notices, increments, and minimum amounts required in connection with such commitment reduction pursuant to Section 2.06 of the Credit Agreement. 

Section 4. Assignment and Acceptance; Reallocation of Commitments. On the Effective Date, immediately after giving effect
to Sections 2 and 3 above, and in lieu of executing and delivering an Assignment and Assumption, each Lender whose pro rata share of the Commitments is decreasing in connection herewith (each an “Assignor” and,
collectively, the “Assignors”) (including each Exiting Lender), and each other Lender whose pro rata share of the Commitments is increasing in connection herewith (including each New Lender) (each an “Assignee” and,
collectively, the “Assignees”) hereby agree to, and the Borrowers hereby accept, the following: 
 (a) Assignment.
For an agreed consideration, each Assignor hereby irrevocably sells and assigns to the respective Assignees, and each Assignee hereby irrevocably purchases and assumes from the respective Assignors, subject to and in accordance with the terms hereof
and of the Credit Agreement, (i) such percentage in and to all of the respective Assignors’ rights and obligations in their respective capacities as Lenders under the Credit Agreement and the other Loan Documents as would result in
Assignors and Assignees having the respective Commitments and Applicable Percentages set forth on Schedule 2.01 – Commitments and Applicable Percentages attached hereto (including, without limitation, any portion of the Commitments and
the Loans (including participations in L/C Obligations and in Swing Line Loans) at any time owing to it), if any, and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of
the respective Assignors (in their respective capacities as Lenders) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any Loan Document, or the loan transactions governed thereby or in any way
based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to, and in proportion to, the rights and obligations sold
and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by any Assignor to any Assignee pursuant to clauses (i) and (ii) above being referred to herein, collectively, as the
“Assigned Interests”). Each such sale and assignment is without recourse to any Assignor (including any Exiting Lender) and, except as expressly provided in this Agreement, without representation or warranty by any Assignor
(including by any Exiting Lender). 
 (b) Exiting Lenders. After giving effect to this Section 4, each
Exiting Lender shall immediately cease to be a party to the Credit Agreement and shall no longer be a “Lender”, and each Exiting Lender’s Commitments to lend and other obligations under the Credit Agreement shall be terminated
automatically with no further action required. 

  
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 (c) Payments. From and after the Effective Date, the Successor Agent (as defined
below) shall make all payments in respect of each Assigned Interest (including payments of principal, interest, fees, and other amounts) to the relevant Assignee whether such amounts have accrued prior to, on, or after the Effective Date. The
Assignors and Assignees shall make all appropriate adjustments in payments by the Successor Agent (as defined below) for periods prior to the Effective Date or with respect to the making of this assignment directly between themselves. 

(d) Consent; Waiver of Administrative Fees. The Existing Agent, the L/C Issuers, the Swing Line Lender, and the Borrowers hereby consent
to each Assignor’s assignment of the Assigned Interests to the respective Assignees, and waive any other conditions to the effectiveness of such assignment that are not expressly set forth in this Agreement, and agree that the terms of this
Agreement shall constitute an Assignment and Assumption. The Existing Agent hereby consents to a one-time waiver of the $3,500 processing and recordation fee that would otherwise be payable by each Assignee
pursuant to Section 11.06(b)(iv) of the Credit Agreement as a result of the assignments provided for herein. 
 Section 5.
Amendments to Credit Agreement. 
 (a) The Credit Agreement (other than the Exhibits and Schedules thereto) is restated in its
entirety as set forth in Annex A attached hereto. 
 (b) Schedule 2.01 (Commitments and Applicable Percentages) to the Credit
Agreement is replaced in its entirety with Schedule 2.01 attached hereto. 
 (c) Schedule 11.02 (Administrative Agent’s Office;
Certain Addresses for Notices) to the Credit Agreement is replaced in its entirety with Schedule 11.02 attached hereto. 
 (d) Exhibit
A (Loan Notice) to the Credit Agreement is replaced in its entirety with Exhibit A attached hereto. 
 (e) Exhibit B (Swing Line Loan
Notice) to the Credit Agreement is replaced in its entirety with Exhibit B attached hereto. 
 (f) Exhibit C (Note) to the Credit
Agreement is replaced in its entirety with Exhibit C attached hereto. 
 (g) Exhibit D (Compliance Certificate) to the Credit
Agreement is replaced in its entirety with Exhibit D attached hereto. 
 (h) Exhibit E-1
(Assignment and Assumption) to the Credit Agreement is replaced in its entirety with Exhibit E-1 attached hereto. 

(i) Exhibit E-2 (Administrative Questionnaire) to the Credit Agreement is replaced in its entirety with
Exhibit E-2 attached hereto. 

  
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 (j) Exhibit H (U.S. Tax Compliance Certificate) to the Credit Agreement is replaced in its
entirety with Exhibit H attached hereto. 
 Section 6. Representations and Warranties. Each Loan Party hereby
represents and warrants that, as of the Effective Date: (a) the representations and warranties of the Borrowers and each other Loan Party contained in Article V of the Credit Agreement or any other Loan Document are
true and correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and correct in all respects), except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse Effect qualification,
which shall be true and correct in all respects) as of such earlier date, and except that the representations and warranties contained in Sections 5.05(a) and (b) of the Credit Agreement are deemed to refer to the most recent statements
furnished pursuant to Sections 6.01(a) and (b) of the Credit Agreement, respectively; (b) no Default has occurred and is continuing; (c) the execution, delivery, and performance of this Agreement are within the corporate, partnership,
limited liability company, unlimited liability company, or other organizational power and authority of such Loan Party and have been duly authorized by appropriate corporate, partnership, limited liability company, unlimited liability company, or
other organizational action and proceedings; (d) this Agreement constitutes the legal, valid, and binding obligation of such Loan Party enforceable in accordance with its terms, except as may be limited by any applicable Debtor Relief Laws
affecting creditors’ rights generally or by general principles of equity; and (e) there are no governmental or other third party consents, licenses, or approvals required in connection with the execution, delivery, performance, validity,
or enforceability of this Agreement. 
 Section 7. Conditions Precedent. This Agreement shall become effective as
of the Effective Date and enforceable against the parties hereto upon the occurrence of each of the following conditions precedent: 
 (a)
Agreement. The Successor Agent shall have received multiple counterparts, as requested by Successor Agent, of this Agreement, duly and validly executed and delivered by duly authorized officers of the Borrowers, each Guarantor, the Existing
Agent, the Successor Agent, and each Lender. 
 (b) Fee Letter. The Successor Agent shall have received (i) that certain
Administrative Agent Fee Letter, dated as of September 21, 2021, executed by duly authorized officers of the Borrowers and the Successor Agent (the “Administrative Agent Fee Letter”), (ii) those certain Joint Lead Arranger Fee
Letters, dated as of the date hereof, executed by (x) duly authorized officers of the Borrowers, and (y) each of the Successor Agent, U.S. Bank, and Citibank, N.A., respectively (collectively, the “JLA Fee Letter”), and
(iii) that certain Amendment No. 1 to Administrative Agent Fee Letter, dated as of the Effective Date, executed by duly authorized officers of the Borrowers and the Successor Agent (the “Fee Letter Amendment”). 

(c) Notes. The Borrowers shall have issued an amended and restated Note payable to each Continuing Lender in the amount of its
Commitment after giving effect to this Agreement, to the extent so requested by any such Continuing Lender. 

  
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 (d) Mortgages, Title Insurance, and Mortgage Amendments. The Successor Agent shall
have received (i) amendments to and/or reaffirmations of Mortgages, as applicable, amending such terms and provisions of the Mortgages to reflect the effectiveness of this Agreement and the assignment of Liens pursuant
Section 2(d) hereof, (ii) subject to Section 6.17(d) and Section 6.17(e) in Annex A, endorsements to existing title insurance policies with respect to the amendments to and/or reaffirmations of Mortgages
described in clause (i) above, in form and substance reasonably satisfactory to the Successor Agent, (iii) each Oklahoma Mortgage Amendment, in each case, duly executed by the applicable Loan Party, the Existing Agent, and the
Successor Agent and otherwise in form and substance reasonably satisfactory to the Successor Agent, and (iv) each Wyoming Mortgage Amendment, in each case, duly executed by the applicable Loan Party, the Existing Agent, and the Successor Agent
and otherwise in form and substance reasonably satisfactory to the Successor Agent. 
 (e) Mortgage Tax Affidavit. The Successor Agent
shall have received mortgage tax affidavits or amendments to mortgage tax affidavits, as applicable, in connection with any amendments to and/or reaffirmations of the Oklahoma Mortgages required pursuant to clause (d) of this
Section 7, duly executed by the applicable Loan Party and otherwise in form and substance reasonably satisfactory to the Successor Agent. 

(f) Lien Searches. The Successor Agent shall have received copies of each Luxembourg Loan Party’s shareholder register and UCC,
Personal Property Security Act, federal and state tax and bankruptcy Lien searches, as applicable, with respect to the Borrower and each other Loan Party, in each case, dated as of a recent date. 

(g) Financing Statements. The Successor Agent shall have received proper UCC financing statements, Personal Property Security Act
financing statements or other filings in form appropriate for filing under the UCC or the Personal Property Security Act, as applicable, of all jurisdictions that the Successor Agent may deem necessary in order to reflect the effectiveness of this
Agreement and the assignment of Liens pursuant Section 2(d) hereof; and 
 (h) Insurance Certificates. The
Successor Agent shall have received copies of certificates of insurance, as required pursuant to Section 6.07 of the Credit Agreement, naming the Successor Agent, on behalf of the Secured Parties, as an additional insured or lender loss payee,
as the case may be, under all insurance policies (including flood insurance policies) maintained with respect to the assets and properties of the Loan Parties that constitute Collateral. 

(i) Other Actions with respect to U.S. Collateral. The Successor Agent shall have received evidence of further amendments and/or
documentation and the completion of any other actions, recordings and filings of or with respect to the Security Agreement or the other Collateral Documents that the Successor Agent may deem reasonably necessary in order to maintain the perfection
of the Liens created thereby and to reflect the effectiveness of this Agreement and the assignment of Liens pursuant to Section 2(d) hereof. 

(j) Actions with respect to Canadian Collateral. The Successor Agent shall have received the following, in each case in form and
substance reasonably satisfactory to the Successor Agent: 

  
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 (i) the Canadian Transfer of Mortgage, duly executed by the Existing Agent; 

(ii) a Canadian Security Confirmation duly executed by each Canadian Loan Party; and 

(iii) Personal Property Security Act Financing Change Statements to be registered in the Personal Property Registries of Alberta and British
Columbia in respect of the existing personal property registrations of the Loan Parties. 
 (k) Actions with respect to Luxembourg
Collateral. The Successor Agent shall have received the following, in each case in form and substance reasonably satisfactory to the Successor Agent: 

(i) a master security assignment and confirmation agreement, duly executed by the Existing Agent, as resigning collateral agent, the Successor
Agent, as successor collateral agent, the Luxembourg Loan Parties, as pledgors and companies, and the other Loan Parties to be parties thereto; and 

(ii) a Notice of Change of Collateral Agent to each “Account Bank” as defined in the Luxembourg Account Pledge Agreements, duly
executed by the applicable Luxembourg Loan Party. 
 (l) Secretary’s Certificates. The Successor Agent shall have received: 

(i) with respect to any Luxembourg Loan Party, a certificate of an authorized signatory of each such entity dated as of the Effective Date and
certifying (A) that attached thereto is a true and complete copy of the Organization Documents (including, without limitation, a copy of the up-to-date articles of
incorporation or articles of association, as applicable, including all amendments thereto, of each such entity) of each such entity as in effect on the date of that certificate, (B) that attached thereto is a true and complete copy of
resolutions duly adopted by the board of directors or managers (or equivalent governing body) of each such entity, as applicable, authorizing the execution, delivery and performance of the Loan Documents to which such Luxembourg Loan Party is
a party and that such resolutions have not been modified, rescinded or amended and are in full force and effect, (C) as to the incumbency and specimen signature of each officer executing any Loan Document or any other document delivered in
connection herewith on behalf of each such entity, (D) that attached thereto is a copy of a certificate of non-registration of judgments (certificat de non inscription d’une décision
judiciaire), issued by the Luxembourg Companies Register with regard to each such entity dated not earlier than one Business Day before the Effective Date, (E) that attached thereto is a certified, true, complete and up-to-date copy of an extract from the Luxembourg Companies Register pertaining to each such entity dated not earlier than one Business Day before the Effective Date,
(F) that attached thereto is a domiciliation certificate issued by the domiciliation agent of each Luxembourg Loan Party dated as of a recent date reasonably satisfactory to the Successor Agent, (G) that such Luxembourg Loan Party is not
subject to nor, as applicable, does not meet or, to the best of its knowledge, threaten to meet the criteria of bankruptcy (faillite), insolvency, voluntary or judicial liquidation (liquidation volontaire ou judiciaire), composition
with creditors (concordat préventif de la faillite), controlled management (gestion contrôlée), reprieve from payment (sursis de paiement), general settlement

  
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with creditors, reorganisation or similar laws affecting the rights of creditors generally, is not in a state of cessation of payments (cessation de payments) and has not lost its
commercial creditworthiness (ébranlement de credit) and to the best of its knowledge, no application has been made, as far as it is aware, by any other person entitled for the appointment of a commissaire, juge-commissaire,
liquidateur, curateur or similar officer pursuant to any voluntary or judicial insolvency, winding-up, liquidation or similar proceedings, and (H) that attached thereto are copies of all consents,
licenses and approvals required in connection with the execution, delivery and performance by such Loan Party and the validity against such Loan Party of the Loan Documents to which it is a party, and certifying that such consents, licenses and
approvals are in full force and effect, or stating that no such consents, licenses or approvals are so required; and 
 (ii) with respect to
each Loan Party (other than a Luxembourg Loan Party, which is addressed in clause (i) above), a certificate of an authorized signatory of each such entity dated as of the Effective Date and certifying (A) that attached thereto is a
true and complete copy of the Organization Documents of each such entity as in effect on the date of that certificate, (B) that attached thereto is a true and complete copy of resolutions duly adopted by the board of directors or managers of
each such entity, as applicable, authorizing the execution, delivery and performance of the Loan Documents to which such Loan Party is a party and that such resolutions have not been modified, rescinded or amended and are in full force and
effect, (C) as to the incumbency and specimen signature of each officer executing any Loan Document or any other document delivered in connection herewith on behalf of each such entity, (D) that attached thereto is a copy of a certificate
of good standing or equivalent certificate of such Loan Party issued by the applicable Governmental Authority in the jurisdiction of formation or incorporation of such Loan Party and a similar certificate from each other jurisdiction where such Loan
Party’s ownership, lease, or operation of properties or the conduct of its business requires such qualification, except to the extent the failure to do so could not reasonably be expected to have a Material Adverse Effect, and (E) that
attached thereto are copies of all consents, licenses and approvals required in connection with the execution, delivery and performance by such Loan Party and the validity against such Loan Party of the Loan Documents to which it is a party, and
certifying that such consents, licenses and approvals are in full force and effect, or stating that no such consents, licenses or approvals are so required. 

(m) Legal Opinions. The Successor Agent shall have received a favorable opinion from each of (i) Latham & Watkins, LLP, as
counsel to the Loan Parties, (ii) local counsel(s) to the Loan Parties in British Columbia, Canada and Alberta, Canada, (iii) local counsel to the Loan Parties in Luxembourg, (iv) local counsel to the Loan Parties in Oklahoma, and
(v) local counsel to the Loan Parties in Wyoming, in each case, addressed to the Successor Agent and each Continuing Lender, as to customary matters concerning the Loan Parties, the Loan Documents, and the Assigned Liens hereunder, as the
Successor Agent may reasonably request. 
 (n) Closing Certificate. The Successor Agent shall have received a certificate signed by a
Responsible Officer of the US Borrower certifying that (i) the representations and warranties of the Borrowers and each other Loan Party contained in Article V of the Credit Agreement or any other Loan Document are
true and correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and correct in all respects), except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects 

  
 -11- 

 
(except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and correct in all respects) as of such earlier date, and
except that the representations and warranties contained in Sections 5.05(a) and (b) of the Credit Agreement are deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and (b) of the Credit Agreement,
respectively, (ii) no Default has occurred and is continuing, (iii) there has been no event or circumstance since the date of the most recently delivered audited financial statements delivered pursuant to Section 6.01(a) of the Credit
Agreement that has had or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect, and (iv) attached thereto is a schedule of all deposit accounts, securities accounts, and commodity accounts of
the Loan Parties as of the Effective Date, which identifies each deposit account, securities account, and commodity account that is not required to be subject to an Account Control Agreement pursuant to Section 6.16 of the Credit Agreement.

 (o) Solvency Certificate. The Successor Agent shall have received a certificate of a Financial Officer of the US Borrower attesting
to the Solvency of the US Borrower and the Restricted Subsidiaries, on a consolidated basis, before and after giving effect to the execution and delivery of the Loan Documents. 

(p) Beneficial Ownership; KYC. The Successor Agent and the Continuing Lenders shall have received, at least three Business Days prior to
the Effective Date, (i) all information requested by them for purposes of compliance with “know your customer” and anti-money laundering rules and regulations, to the extent requested at least five Business Days prior to the Effective
Date, and (ii) to the extent requested by the Successor Agent or any Continuing Lender, a Beneficial Ownership Certification in relation to each Borrower. 

(q) Fees and Expenses. The Borrowers shall have paid (i) all fees and expenses due and payable under the Loan Documents (including
the Administrative Agent Fee Letter, as amended by the Fee Letter Amendment, and the JLA Fee Letter), including the fees and expenses of the Successor Agent’s and the Existing Agent’s outside legal counsel, pursuant to all invoices
presented for payment at least one Business Day prior to the Effective Date, and (ii) all mortgage tax and related fees, if any, required to be paid with respect to the Mortgages (or any amendments or supplements thereto). 

(r) Repayment of Exiting Lenders. Each Exiting Lender shall have been paid (or will be paid substantially concurrently with the closing
of this Agreement) an amount equal to the outstanding principal amount of such Exiting Lender’s Loans (including L/C Advances) owing to it on the Effective Date, together with all accrued interest thereon, accrued fees, and all other amounts
payable to the Exiting Lender under the Credit Agreement; provided, however, that each Exiting Lender hereby waives any right to receive any payments under Section 3.05 of the Credit Agreement as a result of such payments. 

(s) Repayment of Accrued Fees and Interest. In order to facilitate the assignments and reallocations described in
Section 4 above, the Successor Agent shall have received evidence satisfactory to it that the Borrowers shall have paid to the Successor Agent for the account of the Continuing Lenders all accrued and unpaid interest and
fees in respect of the outstanding Loans, Letters of Credit, and Commitments as of the Effective Date. 

  
 -12- 

 (t) Other. The Borrowers shall have delivered such other assurances, certificates,
documents, consents or opinions as the Successor Agent, the Existing Agent, any L/C Issuer, the Swing Line Lender (including both Persons acting as Swing Line Lender either immediately before and after giving effect to
Section 2(c) of this Agreement), or any Continuing Lender reasonably may require. 
 Section 8.
Acknowledgments and Agreements. 
 (a) Each Loan Party acknowledges that on the date hereof all outstanding Obligations
are payable in accordance with their terms (except as limited by applicable Debtor Relief Laws affecting creditors’ rights generally or by general principles of equity). Each Loan Party, the Successor Agent, the L/C Issuers, the Swing Line
Lender (immediately after giving effect to Section 2(c) of this Agreement), and the Continuing Lenders do hereby adopt, ratify, and confirm the Credit Agreement (as amended by this Agreement), and acknowledge and agree that
the Credit Agreement is and remains in full force and effect, and each Loan Party acknowledges and agrees that its respective liabilities and obligations under the Credit Agreement and the other Loan Documents it is a party to are not impaired in
any respect by this Agreement. 
 (b) This Agreement is a Loan Document for the purposes of the provisions of the other Loan Documents. 

(c) The Successor Agent, the L/C Issuers, the Swing Line Lender (immediately after giving effect to Section 2(c) of
this Agreement), and the Continuing Lenders hereby expressly reserve all of their rights, remedies, and claims under the Loan Documents. Nothing herein shall constitute a waiver or relinquishment of (i) any Default under any of the Loan
Documents, (ii) any of the agreements, terms, or conditions contained in any of the Loan Documents, (iii) any rights or remedies of the Successor Agent, the L/C Issuers, the Swing Line Lender (immediately after giving effect to
Section 2(c) of this Agreement), or any Continuing Lender with respect to the Loan Documents, or (iv) the rights of the Successor Agent, the L/C Issuers, the Swing Line Lender (immediately after giving effect to
Section 2(c) of this Agreement), or any Continuing Lender to collect the full amounts owing to them under the Loan Documents. 

(d) Each Current Lender hereby waives any right to receive any payments under Section 3.05 of the Credit Agreement as a result of any
repayment of the Loans by the Borrowers on the Effective Date. 
 Section 9. Reaffirmation of the Guaranty. Each
Guarantor hereby ratifies, confirms, acknowledges, and agrees that its obligations under the Guaranty are in full force and effect and that such Guarantor continues to absolutely and unconditionally guarantee the prompt payment, when due, whether at
stated maturity, by required prepayment, upon acceleration or demand, or otherwise, and at all times thereafter, of all of the Obligations (as defined in the Guaranty), as such Obligations may have been modified by this Agreement, and such
Guarantor’s execution and delivery of this Agreement does not indicate or establish an approval or consent requirement by such Guarantor under the Guaranty in connection with the execution and delivery of amendments, consents, or waivers to the
Credit Agreement or any of the other Loan Documents. 

  
 -13- 

 Section 10. Reaffirmation of Security Documents. Each Loan Party
(a) is party to certain Collateral Documents (as amended, reaffirmed, or otherwise modified in connection with this Agreement) securing the Obligations, (b) reaffirms the terms of and its obligations (and the security interests granted by
it) under each such Collateral Document to which it is a party, and agrees that each such Collateral Document will continue in full force and effect to secure the Obligations, as the same may be amended, supplemented, or otherwise modified from time
to time, and (c) acknowledges, represents, warrants, and agrees that the Liens and security interests granted by it pursuant to such Collateral Documents are valid, enforceable, and subsisting, and such Collateral Documents create a perfected
first priority Lien on and security interest in the Collateral (subject to (i) any limitations on perfection and method of perfection provided in the Security Agreement and (ii) Liens permitted under Section 7.01 of the Credit
Agreement) to secure the Obligations. 
 Section 11. Counterparts. 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. Delivery of an executed counterpart of a signature page of this Agreement by
facsimile or other electronic imaging means (e.g., “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Agreement. 

Section 12. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and assigns permitted pursuant to the Credit Agreement. 
 Section 13. Invalidity. If any
provision of this Agreement is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement shall not be affected or impaired thereby and (b) the parties shall
endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity
of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

Section 14. Governing Law; Submission to Jurisdiction; Waiver of Jury Trial. THIS AGREEMENT AND ANY CLAIMS, CONTROVERSY,
DISPUTE, OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT, OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF
NEW YORK. THE PROVISIONS OF SECTION 11.15(b), SECTION 11.15(c), AND SECTION 11.16 OF THE CREDIT AGREEMENT SHALL APPLY TO THIS AGREEMENT TO THE SAME EXTENT AS IF FULLY SET OUT HEREIN. 

Section 15. Entire Agreement. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES
HERETO AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES HERETO. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES HERETO. 

  
 -14- 

 Section 16. RELEASE OF EXISTING AGENT. For good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and as a material inducement to cause the Existing Agent to enter into this Agreement, each Loan Party hereby, for itself and its successors and assigns, fully and without
reserve, releases, acquits, and forever discharges the Existing Agent, its respective successors and assigns, officers, directors, employees, representatives, trustees, attorneys, agents and affiliates (collectively the “Released
Parties” and individually a “Released Party”) from any and all actions, claims, demands, causes of action, judgments, executions, suits, debts, liabilities, costs, damages, expenses or other obligations
of any kind and nature whatsoever, direct and/or indirect, at law or in equity, whether now existing or hereafter asserted, whether absolute or contingent, whether due or to become due, whether disputed or undisputed, whether known or unknown
(INCLUDING, WITHOUT LIMITATION, ANY OFFSETS, REDUCTIONS, REBATEMENT, CLAIMS OF USURY OR CLAIMS WITH RESPECT TO THE NEGLIGENCE OF ANY RELEASED PARTY) (collectively, the “Released Claims”), for or because of any matters
or things occurring, existing or actions done, omitted to be done, or suffered to be done by any of the Released Parties on or prior to the Effective Date, in any way directly or indirectly arising out of or in any way connected to any of this
Agreement, the Credit Agreement, any other Loan Document, or any of the transactions contemplated hereby or thereby (collectively, the “Released Matters”). Each Loan Party, by execution hereof, hereby acknowledges and
agrees that the agreements in this Section 16 are intended to cover and be in full satisfaction for all or any alleged injuries or damages arising on or prior to the Effective Date in connection
with the Released Matters herein compromised and settled. Each Loan Party hereby further agrees that it will not sue any Released Party on the basis of any Released Claim released, remised and discharged by the Loan Parties pursuant to this
Section 16. In entering into this Agreement, each Loan Party consulted with, and has been represented by, legal counsel and expressly disclaims any reliance on any representations, acts or
omissions by any of the Released Parties and hereby agrees and acknowledges that the validity and effectiveness of the releases set forth herein do not depend in any way on any such representations, acts and/or omissions or the accuracy,
completeness or validity hereof. The provisions of this Section 16 shall survive the termination of this Agreement, the Credit Agreement and the other Loan Documents and payment in full of the
Obligations. 
 [Signature pages follow.] 

  
 -15- 

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

			
	BORROWERS AND GUARANTORS:
	
	USD PARTNERS LP
	
	By: USD PARTNERS GP LLC, its general partner
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Executive Vice President and Chief Financial Officer
	
	USD TERMINALS CANADA ULC
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Senior Vice President and Chief Financial Officer
	
	USD LOGISTICS OPERATIONS GP LLC
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Executive Vice President and Chief Financial Officer
	
	USD LOGISTICS OPERATIONS LP
	
	By: USD LOGISTICS OPERATIONS GP LLC, its general partner
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Executive Vice President and Chief Financial Officer

  
 Signature Page to
Amendment No. 1 
 (USD Partners LP and USD Terminals Canada ULC) 

 
			
	WEST COLTON RAIL TERMINAL LLC
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Executive Vice President and Chief Financial Officer
	
	SAN ANTONIO RAIL TERMINAL LLC
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Executive Vice President and Chief Financial Officer
	
	USD TERMINALS INTERNATIONAL S.à r.l., a private limited liability company (société à responsabilité limitée) organized and established under the laws of Luxembourg,
with its registered office at 68-70, boulevard de la Pétrusse, L-2320 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg
Companies Register under number B181650
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Class A Manager and Authorised Signatory
	
	USD RAIL LP
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Executive Vice President and Chief Financial Officer

  
 Signature Page to
Amendment No. 1 
 (USD Partners LP and USD Terminals Canada ULC) 

 
			
	USD RAIL INTERNATIONAL S.à r.l., a private limited liability company (société à responsabilité limitée) organized and established under the laws of Luxembourg, with
its registered office at 68-70, boulevard de la Pétrusse, L-2320 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Companies
Register under number B181698
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Class A Manager and Authorised Signatory
	
	USD RAIL CANADA ULC
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Senior Vice President and Chief Financial Officer
	
	USDP FINANCE CORP.
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Chief Financial Officer
	
	STROUD CRUDE TERMINAL LLC
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Executive Vice President, Chief Financial Officer and Manager
	
	SCT PIPELINE LLC
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Executive Vice President, Chief Financial Officer and Manager

  
 Signature Page to
Amendment No. 1 
 (USD Partners LP and USD Terminals Canada ULC) 

 
			
	USDP CCR LLC
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Executive Vice President and Chief Financial Officer
	
	CASPER CRUDE TO RAIL, LLC
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Executive Vice President and Chief Financial Officer
	
	CCR PIPELINE, LLC
		
	By:	 	 /s/ Adam Altsuler

		 	Name: Adam Altsuler
		 	Title: Vice President and Chief Financial Officer

  
 Signature Page to
Amendment No. 1 
 (USD Partners LP and USD Terminals Canada ULC) 

 
			
	SUCCESSOR AGENT:
	
	BANK OF MONTREAL, as Successor Agent, L/C Issuer, Swing Line Lender, and a Lender
		
	By:	 	 /s/ Jason Deegan

		 	Name: Jason Deegan
		 	Title: Director

  
 Signature Page to
Amendment No. 1 
 (USD Partners LP and USD Terminals Canada ULC) 

 
			
	EXISTING AGENT:
	
	CITIBANK, N.A., as Existing Agent, L/C Issuer, and a Lender
		
	By:	 	 /s/ Gabe Juarez

		 	Name: Gabe Juarez
		 	Title: Vice President

  
 Signature Page to
Amendment No. 1 
 (USD Partners LP and USD Terminals Canada ULC) 

 
			
	LENDERS:
	
	U.S. BANK NATIONAL ASSOCIATION, as L/C Issuer and a Lender
		
	By:	 	 /s/ Blake Nilhas

		 	Name: Blake Nilhas
		 	Title: Senior Vice President

  
 Signature Page to
Amendment No. 1 
 (USD Partners LP and USD Terminals Canada ULC) 

 
			
	FIRST HORIZON BANK, as a Lender
		
	By:	 	 /s/ Greg L. Gough

	Name:	 	Greg L Gough
	Title:	 	EVP

  
 Signature Page to
Amendment No. 1 
 (USD Partners LP and USD Terminals Canada ULC) 

 
			
	 GOLDMAN SACHS BANK USA,
 as a
Lender

		
	By:	 	 /s/ William E. Briggs IV

	Name: William E. Briggs IV
	Title: Authorized Signatory

  
 Signature Page to
Amendment No. 1 
 (USD Partners LP and USD Terminals Canada ULC) 

 
			
	SUMITOMO MITSUI BANKING CORPORATION, as a New Lender
		
	By:	 	 /s/ Jeffrey Cobb

		 	Name: Jeffrey Cobb
		 	Title: Director

  
 Signature Page to
Amendment No. 1 
 (USD Partners LP and USD Terminals Canada ULC) 

 
			
	MUFG BANK LTD., as a New Lender
		
	By:	 	 /s/ Todd Vaubel

		 	Name: Todd Vaubel
		 	Title: Director

  
 Signature Page to
Amendment No. 1 
 (USD Partners LP and USD Terminals Canada ULC) 

 
			
	ROYAL BANK OF CANADA, as an Exiting Lender
		
	By:	 	 /s/ Emilee Scott

		 	Name: Emilee Scott
		 	Title: Authorized Signatory

  
 Signature Page to
Amendment No. 1 
 (USD Partners LP and USD Terminals Canada ULC) 

 
			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as an Exiting Lender
		
	By:	 	 /s/ Nupur Kumar

	Name:	 	Nupur Kumar
	Title:	 	Authorized Signatory
		
	By:	 	 /s/ Daniel Kogan

	Name:	 	Daniel Kogan
	Title:	 	Authorized Signatory

  
 Signature Page to
Amendment No. 1 
 (USD Partners LP and USD Terminals Canada ULC) 

 
			
	BARCLAYS BANK PLC, as an Exiting Lender
		
	By:	 	 /s/ Sydney G. Dennis

	Name:	 	Sydney G. Dennis
	Title:	 	Director

  
 Signature Page to
Amendment No. 1 
 (USD Partners LP and USD Terminals Canada ULC) 

 ANNEX A 
  

 
  

AMENDED AND RESTATED CREDIT AGREEMENT 

Dated as of November 2, 2018 

among 
 USD PARTNERS LP

 and 
 USD TERMINALS
CANADA ULC, 
 as Borrowers 

BANK OF MONTREAL, 
 as
Administrative Agent, Swing Line Lender 
 and 

L/C Issuer, 
 U.S. BANK NATIONAL
ASSOCIATION and CITIBANK, N.A., 
 as L/C Issuers 

and 
 The Other Lenders Party
Hereto 
 BMO CAPITAL MARKETS, 

U.S. BANK NATIONAL ASSOCIATION, 

and 
 CITIBANK, NA., 

as 
 Joint Lead Arrangers and
Joint Bookrunners 
 and 

U.S. BANK NATIONAL ASSOCIATION and CITIBANK, N.A., 

as Co-Syndication Agents 
  

 
  

 TABLE OF CONTENTS 

 

							
	 ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS
	  	 	1	 
			
	 Section 1.01.
	 	Defined Terms	  	 	1	 
	 Section 1.02.
	 	Other Interpretive Provisions	  	 	45	 
	 Section 1.03.
	 	Accounting Terms	  	 	46	 
	 Section 1.04.
	 	Rounding	  	 	46	 
	 Section 1.05.
	 	Times of Day	  	 	46	 
	 Section 1.06.
	 	Letter of Credit Amounts	  	 	46	 
	 Section 1.07.
	 	Divisions	  	 	47	 
		
	 ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS
	  	 	47	 
			
	 Section 2.01.
	 	Loans	  	 	47	 
	 Section 2.02.
	 	Borrowings, Conversions and Continuations of Loans	  	 	47	 
	 Section 2.03.
	 	Letters of Credit	  	 	49	 
	 Section 2.04.
	 	Swing Line Loans	  	 	58	 
	 Section 2.05.
	 	Prepayments	  	 	61	 
	 Section 2.06.
	 	Termination or Reduction of Commitments	  	 	61	 
	 Section 2.07.
	 	Repayment of Loans	  	 	62	 
	 Section 2.08.
	 	Interest	  	 	62	 
	 Section 2.09.
	 	Fees	  	 	63	 
	 Section 2.10.
	 	Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate	  	 	64	 
	 Section 2.11.
	 	Evidence of Debt	  	 	65	 
	 Section 2.12.
	 	Payments Generally; Administrative Agent’s Clawback	  	 	65	 
	 Section 2.13.
	 	Sharing of Payments by Lenders	  	 	67	 
	 Section 2.14.
	 	Cash Collateral	  	 	68	 
	 Section 2.15.
	 	Defaulting Lenders	  	 	69	 
	 Section 2.16.
	 	Increase in Commitments	  	 	72	 
	 Section 2.17.
	 	Extension of Maturity Date	  	 	73	 
		
	 ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY
	  	 	76	 
			
	 Section 3.01.
	 	Taxes	  	 	76	 
	 Section 3.02.
	 	Illegality	  	 	80	 
	 Section 3.03.
	 	Inability to Determine Rates	  	 	81	 
	 Section 3.04.
	 	Increased Costs; Reserves on Eurocurrency Rate Loans	  	 	83	 
	 Section 3.05.
	 	Compensation for Losses	  	 	84	 
	 Section 3.06.
	 	Mitigation Obligations; Replacement of Lenders	  	 	85	 
	 Section 3.07.
	 	Survival	  	 	86	 
		
	 ARTICLE IV. CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	  	 	86	 
			
	 Section 4.01.
	 	Conditions of Initial Credit Extension	  	 	86	 
	 Section 4.02.
	 	Conditions to all Credit Extensions	  	 	91	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
		
	 ARTICLE V. REPRESENTATIONS AND WARRANTIES
	  	 	92	 
			
	 Section 5.01.
	 	Existence, Qualification and Power	  	 	92	 
	 Section 5.02.
	 	Authorization; No Contravention	  	 	92	 
	 Section 5.03.
	 	Governmental Authorization; Other Consents	  	 	93	 
	 Section 5.04.
	 	Binding Effect	  	 	93	 
	 Section 5.05.
	 	Financial Statements; No Material Adverse Effect	  	 	93	 
	 Section 5.06.
	 	Litigation	  	 	94	 
	 Section 5.07.
	 	No Default	  	 	94	 
	 Section 5.08.
	 	Title; Etc.	  	 	94	 
	 Section 5.09.
	 	Environmental Compliance; Permits	  	 	96	 
	 Section 5.10.
	 	Insurance	  	 	97	 
	 Section 5.11.
	 	Taxes	  	 	97	 
	 Section 5.12.
	 	ERISA Compliance	  	 	97	 
	 Section 5.13.
	 	Subsidiaries; Equity Interests; Loan Parties	  	 	98	 
	 Section 5.14.
	 	Margin Regulations; Investment Company Act	  	 	98	 
	 Section 5.15.
	 	Disclosure	  	 	98	 
	 Section 5.16.
	 	Compliance with Laws	  	 	99	 
	 Section 5.17.
	 	Intellectual Property; Licenses, Etc.	  	 	99	 
	 Section 5.18.
	 	Sanctions; Anti-Terrorism/Anti-Money Laundering; Anti-Corruption	  	 	99	 
	 Section 5.19.
	 	Solvency	  	 	100	 
	 Section 5.20.
	 	Labor Matters	  	 	100	 
	 Section 5.21.
	 	Collateral Documents	  	 	100	 
	 Section 5.22.
	 	State and Federal Regulation	  	 	101	 
	 Section 5.23.
	 	Title to Crude Oil and Refined Products	  	 	101	 
	 Section 5.24.
	 	Representations as to Canadian Borrower and other Foreign Obligors	  	 	101	 
	 Section 5.25.
	 	Material Contracts	  	 	102	 
	 Section 5.26.
	 	Use of Proceeds	  	 	102	 
	 Section 5.27.
	 	Affected Financial Institution	  	 	102	 
		
	 ARTICLE VI. AFFIRMATIVE COVENANTS
	  	 	102	 
			
	 Section 6.01.
	 	Financial Statements	  	 	103	 
	 Section 6.02.
	 	Certificates; Other Information	  	 	103	 
	 Section 6.03.
	 	Notices	  	 	106	 
	 Section 6.04.
	 	Payment of Obligations106	  	 	106	 
	 Section 6.05.
	 	Preservation of Existence, Etc.	  	 	106	 
	 Section 6.06.
	 	Maintenance of Properties	  	 	107	 
	 Section 6.07.
	 	Maintenance of Insurance	  	 	107	 
	 Section 6.08.
	 	Compliance with Laws	  	 	108	 
	 Section 6.09.
	 	Books and Records	  	 	108	 
	 Section 6.10.
	 	Inspection Rights	  	 	108	 
	 Section 6.11.
	 	Covenant to Guarantee Obligations and Give Security	  	 	108	 
	 Section 6.12.
	 	Compliance with Environmental Laws	  	 	112	 
	 Section 6.13.
	 	Further Assurances	  	 	112	 
	 Section 6.14.
	 	Material Contracts	  	 	113	 

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 Section 6.15.
	 	Designation and Conversion of Restricted and Unrestricted Subsidiaries	  	 	113	 
	 Section 6.16.
	 	Account Control Agreements	  	 	114	 
	 Section 6.17.
	 	Post-Closing Covenant	  	 	114	 
		
	 ARTICLE VII. NEGATIVE COVENANTS
	  	 	115	 
			
	 Section 7.01.
	 	Liens	  	 	115	 
	 Section 7.02.
	 	Indebtedness	  	 	118	 
	 Section 7.03.
	 	Investments	  	 	119	 
	 Section 7.04.
	 	Fundamental Changes	  	 	121	 
	 Section 7.05.
	 	Dispositions	  	 	122	 
	 Section 7.06.
	 	Restricted Payments	  	 	123	 
	 Section 7.07.
	 	Change in Nature of Business	  	 	123	 
	 Section 7.08.
	 	Transactions with Affiliates	  	 	123	 
	 Section 7.09.
	 	Burdensome Agreements	  	 	124	 
	 Section 7.10.
	 	Use of Proceeds	  	 	124	 
	 Section 7.11.
	 	Financial Covenants	  	 	124	 
	 Section 7.12.
	 	Amendments of Organization Documents	  	 	125	 
	 Section 7.13.
	 	Accounting Changes	  	 	125	 
	 Section 7.14.
	 	Prepayments, Etc. of Indebtedness	  	 	125	 
	 Section 7.15.
	 	Limitation on Speculative Hedging	  	 	125	 
	 Section 7.16.
	 	Sanctions; Anti-Terrorism/Anti-Money Laundering; Anti-Corruption	  	 	125	 
		
	 ARTICLE VIII. EVENTS OF DEFAULT AND REMEDIES
	  	 	126	 
			
	 Section 8.01.
	 	Events of Default	  	 	126	 
	 Section 8.02.
	 	Remedies upon Event of Default	  	 	128	 
	 Section 8.03.
	 	Application of Funds	  	 	129	 
		
	 ARTICLE IX. MULTIPLE BORROWERS
	  	 	130	 
			
	 Section 9.01.
	 	Obligations Joint and Several and Unconditional	  	 	130	 
	 Section 9.02.
	 	Reinstatement	  	 	131	 
	 Section 9.03.
	 	Subrogation	  	 	131	 
	 Section 9.04.
	 	Remedies	  	 	131	 
	 Section 9.05.
	 	Limitation on Obligations	  	 	131	 
		
	 ARTICLE X. ADMINISTRATIVE AGENT
	  	 	132	 
			
	 Section 10.01.
	 	Appointment and Authority	  	 	132	 
	 Section 10.02.
	 	Rights as a Lender	  	 	132	 
	 Section 10.03.
	 	Exculpatory Provisions	  	 	133	 
	 Section 10.04.
	 	Reliance by Administrative Agent	  	 	133	 
	 Section 10.05.
	 	Delegation of Duties	  	 	134	 
	 Section 10.06.
	 	Resignation of Administrative Agent	  	 	134	 

  
 -iii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 Section 10.07.
	 	Non-Reliance on Administrative Agent and Other Lenders	  	 	136	 
	 Section 10.08.
	 	No Other Duties, Etc.	  	 	136	 
	 Section 10.09.
	 	Administrative Agent May File Proofs of Claim; Credit Bidding	  	 	136	 
	 Section 10.10.
	 	Collateral and Guaranty Matters	  	 	137	 
	 Section 10.11.
	 	Secured Cash Management Agreements and Secured Hedge Agreements	  	 	138	 
	 Section 10.12.
	 	Recovery of Erroneous Payments	  	 	139	 
		
	 ARTICLE XI. MISCELLANEOUS
	  	 	139	 
			
	 Section 11.01.
	 	Amendments, Etc.	  	 	139	 
	 Section 11.02.
	 	Notices; Effectiveness; Electronic Communications	  	 	141	 
	 Section 11.03.
	 	No Waiver; Cumulative Remedies; Enforcement	  	 	143	 
	 Section 11.04.
	 	Expenses; Indemnity; Damage Waiver	  	 	144	 
	 Section 11.05.
	 	Payments Set Aside	  	 	146	 
	 Section 11.06.
	 	Successors and Assigns	  	 	147	 
	 Section 11.07.
	 	Treatment of Certain Information; Confidentiality	  	 	151	 
	 Section 11.08.
	 	Right of Setoff	  	 	152	 
	 Section 11.09.
	 	Interest Rate Limitation	  	 	153	 
	 Section 11.10.
	 	Counterparts; Integration; Effectiveness	  	 	153	 
	 Section 11.11.
	 	Survival of Representations and Warranties	  	 	153	 
	 Section 11.12.
	 	Severability	  	 	154	 
	 Section 11.13.
	 	Replacement of Lenders	  	 	154	 
	 Section 11.14.
	 	Keepwell	  	 	155	 
	 Section 11.15.
	 	Governing Law; Jurisdiction; Etc.	  	 	155	 
	 Section 11.16.
	 	Waiver of Jury Trial	  	 	156	 
	 Section 11.17.
	 	No Advisory or Fiduciary Responsibility	  	 	157	 
	 Section 11.18.
	 	Electronic Execution	  	 	157	 
	 Section 11.19.
	 	USA PATRIOT Act	  	 	158	 
	 Section 11.20.
	 	Judgment Currency	  	 	159	 
	 Section 11.21.
	 	Lender Representations; Certain ERISA Matters	  	 	159	 
	 Section 11.22.
	 	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	  	 	160	 
	 Section 11.23.
	 	Amendment and Restatement; No Novation; Reallocations	  	 	161	 
	 Section 11.24.
	 	ENTIRE AGREEMENT	  	 	162	 
	 Section 11.25.
	 	No General Partner’s Liability	  	 	162	 
	 Section 11.26.
	 	Acknowledgment Regarding Any Supported QFCs	  	 	162	 

  
 -iv- 

 TABLE OF CONTENTS 

(continued) 
  

 SCHEDULES 
  

			
	2.01	  	Commitments and Applicable Percentages
	5.08	  	Material Real Property
	5.09	  	Environmental Matters
	5.13	  	Subsidiaries; Other Equity Investments; Equity Interests in the Borrowers
	5.25	  	Material Contracts
	6.11	  	Guarantors
	7.01	  	Existing Liens
	7.02	  	Existing Indebtedness
	7.03	  	Investments
	7.09	  	Burdensome Agreements
	11.02	  	Administrative Agent’s Office; Certain Addresses for Notices

 EXHIBITS 
  

			
	Form of
	A	  	Loan Notice
	B	  	Swing Line Loan Notice
	C	  	Note
	D	  	Compliance Certificate
	E-1	  	Assignment and Assumption
	E-2	  	Administrative Questionnaire
	F	  	Amended and Restated Guaranty
	G	  	Amended and Restated Security Agreement
	H	  	U.S. Tax Compliance Certificates
	I-1	  	Canadian Debenture
	I-2	  	Canadian Debenture Pledge Agreement

  

  
 -v- 

 AMENDED AND RESTATED CREDIT AGREEMENT 

This AMENDED AND RESTATED CREDIT AGREEMENT (“Agreement”) is entered into as of November 2, 2018, among USD PARTNERS LP, a
Delaware limited partnership (the “US Borrower”), and USD TERMINALS CANADA ULC, an unlimited liability company subsisting under the laws of the Province of British Columbia, Canada (the “Canadian Borrower” and,
together with the US Borrower, the “Borrowers” and, each a “Borrower”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), BANK
OF MONTREAL, as Administrative Agent, Swing Line Lender and an L/C Issuer, U.S. BANK NATIONAL ASSOCIATION, as an L/C Issuer, and CITIBANK, N.A., as an L/C Issuer. 

PRELIMINARY STATEMENTS: 

The Borrowers, the lenders party thereto (the “Existing Lenders”), and Citibank, N.A., as administrative agent, entered into
that certain Credit Agreement dated as of October 15, 2014, as amended by that certain Amendment No. 1 to Credit Agreement dated as of November 13, 2015 (as so amended and as otherwise modified prior to the date hereof, the
“Existing Credit Agreement”), pursuant to which the Existing Lenders have made available to the Borrowers a revolving credit facility, including a letter of credit subfacility, pursuant to the terms and conditions set forth in the
Existing Credit Agreement. 
 The Borrowers have requested that the Existing Credit Agreement be amended and restated in order to, among
other things, extend the maturity date and make certain other amendments and modifications to the Existing Credit Agreement. 
 Citibank,
N.A., the L/C Issuers, the Lenders, and the Borrowers are willing to amend and restate the Existing Credit Agreement, and the Lenders and the L/C Issuers agree to make revolving credit and letter of credit facilities available to the Borrowers, on
the terms and conditions of this Agreement. 
 Pursuant to Amendment No. 1, Citibank, N.A. is resigning as administrative agent under
this Agreement, and as of the Amendment No. 1 Effective Date the Required Lenders have appointed Bank of Montreal as successor Administrative Agent and the Borrowers have appointed Bank of Montreal as successor Swing Line Lender for all
purposes hereunder, and in each case, Bank of Montreal accepts such appointment. 
 In consideration of the mutual covenants and agreements
herein contained, the parties hereto covenant and agree as follows: 
 ARTICLE I. 

DEFINITIONS AND ACCOUNTING TERMS 

Section 1.01. Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth below: 

“Account Control Agreement” means an account control agreement (or equivalent in any other applicable jurisdiction and with
respect to an account located in Luxembourg, a Luxembourg Account Pledge Agreement, in each case acknowledged by the institutions at which such account is held in Luxembourg) with respect to a deposit account, securities account, or commodity
account of a Loan Party, in form and substance reasonably satisfactory to the Administrative Agent, as amended, confirmed, amended and restated, supplemented, or otherwise modified from time to time. 

  
 -1- 

 “Acquisition” means the acquisition, directly or indirectly, by any Person
of (a) the Equity Interests of another Person, (b) the material properties or assets of another Person, (c) a line of business or division of another Person, in each case (i) whether or not involving a merger, amalgamation or a
consolidation with such other Person and (ii) whether in one transaction or a series of related transactions, but in any case excluding any ordinary course capital expenditures of the Loan Parties or ordinary course replacements of existing
equipment, property or assets of the Loan Parties. 
 “Acquisition Consideration” means, in connection with any
Acquisition, the total cash and noncash consideration (including the fair market value of all Equity Interests issued or transferred to the sellers thereof, earnouts and other contingent payment obligations to, and all assumptions of debt,
liabilities and other obligations in connection therewith) paid by or on behalf of the Borrowers and the Restricted Subsidiaries for such Acquisition; provided, that any contingent future payment shall be considered Acquisition Consideration
only to the extent of the reserve, if any, required under GAAP at the time of such sale to be established in respect thereof by a Borrower or any Restricted Subsidiary. 

“Additional Lender” has the meaning specified in Section 2.17(d). 

“Adjusted Eurocurrency Rate” means for any Interest Period with respect to any Eurocurrency Rate Loan, an interest rate per
annum (rounded upwards, if necessary, to the next 1/100 of 1.00%) equal to the product of (a) the rate based on the definition of “Eurocurrency Rate” for such Interest Period multiplied by (b) the Statutory Reserves. 

“Administrative Agent” means Bank of Montreal in its capacity as administrative agent under any of the Loan Documents, or any
successor administrative agent. 
 “Administrative Agent’s Office” means the Administrative Agent’s address and,
as appropriate, account as set forth on Schedule 11.02, or such other address or account as the Administrative Agent may from time to time notify to the Borrowers and the Lenders. 

“Administrative Questionnaire” means an Administrative Questionnaire in substantially the form of Exhibit E-2 or any other form approved by the Administrative Agent. 
 “Affected Financial
Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution. 
 “Affiliate”
means, with respect to any Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 

“Aggregate Commitments” means, at any time, the aggregate amount of the Commitments of all of the Lenders set forth as their
“Commitment” on Schedule 2.01 or in any Assignment and Assumption or joinder (pursuant to Section 2.16(c)) pursuant to which any Lender became a party to this Agreement, as adjusted from time to time in
accordance with this Agreement. 

  
 -2- 

 “Agreement” means this Amended and Restated Credit Agreement, as amended,
restated, amended and restated, supplemented, or otherwise modified from time to time. 
 “Amendment
No. 1” means that certain Master Assignment, Assignment of Liens, and Amendment No. 1 to Amended and Restated Credit Agreement dated as of the Amendment No. 1 Effective Date, among the Borrowers, the Guarantors
party thereto, Citibank, N.A., as resigning administrative agent, Bank of Montreal, as successor administrative agent, and the financial institutions party thereto. 

“Amendment No. 1 Effective Date” means October 29, 2021. 

“Anti-Corruption Laws” means all applicable Laws of any jurisdiction from time to time concerning or relating to bribery or
corruption, including the UK Bribery Act, the FCPA, and the Corruption of Foreign Public Officials Act (Canada). 
 “Anti-Money
Laundering/Anti-Terrorism Laws” means any applicable Law relating to money laundering or terrorist financing, including the Bank Secrecy Act, 31 U.S.C. Sections 5301 et seq.; The Currency and Foreign Transactions Reporting Act (31 U.S.C.
§§ 5311-5330 and 12 U.S.C. §§ 1818(s), 1820(b) and 1951-1959); the Trading With the Enemy Act (50 U.S.C. § 1 et seq., as amended); the USA PATRIOT Act; Laundering of Monetary Instruments, 18 U.S.C. Section 1956;
Engaging in Monetary Transactions in Property Derived from Specified Unlawful Activity, 18 U.S.C. Section 1957; the Financial Recordkeeping and Reporting of Currency and Foreign Transactions Regulations, 31 C.F.R. Part 103; Executive Order
No. 13,224, 66 Fed. Reg. 49,079 (2001) issued by the President of the U.S. (Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism); the Proceeds of Crime (Money
Laundering) and Terrorist Financing Act (Canada); the Criminal Code (Canada); the United Nations Act (Canada), and, with respect to a Loan Party, equivalent legislation in the jurisdiction of organization of such Loan Party and any similar Law
currently in force or hereafter enacted. 
 “Applicable Percentage” means, with respect to any Lender at any time, the
percentage set forth on Schedule 2.01 or in any Assignment and Assumption or joinder (pursuant to Section 2.16(c)) pursuant to which any Lender became a party to this Agreement, subject to adjustment as provided in
Sections 2.03, 2.15, 2.16, and 2.17. 
 “Applicable Rate” means (a) from the Closing Date
until the date on which the Administrative Agent receives the Initial Compliance Certificate, (i) 1.50% per annum for Loans that are Base Rate Loans, (ii) 2.50% per annum for Loans that are Eurocurrency Rate Loans, (iii) 2.50% per annum for Letter
of Credit Fees, and (iv) 0.50% for commitment fees, and (b) thereafter, the applicable percentage per annum set forth below determined by reference to the Consolidated Net Leverage Ratio as set forth in the most recent Compliance Certificate
received by the Administrative Agent pursuant to Section 6.02(b): 

  
 -3- 

															
	 Pricing

Level
	  	Consolidated Net
Leverage Ratio	  	Commitment
Fee	 	 	Loans that
are
Eurocurrency
Rate &
Letters of
Credit	 	 	Loans that
are Base
Rate	 
	 1
	  	<2.75:1	  	 	0.375	% 	 	 	2.00	% 	 	 	1.00	% 
	 2
	  	32.75:1 but <3.25:1	  	 	0.375	% 	 	 	2.25	% 	 	 	1.25	% 
	 3
	  	33.25:1 but <3.75:1	  	 	0.50	% 	 	 	2.50	% 	 	 	1.50	% 
	 4
	  	33.75:1 but <4.25:1	  	 	0.50	% 	 	 	2.75	% 	 	 	1.75	% 
	 5
	  	34.25:1	  	 	0.50	% 	 	 	3.00	% 	 	 	2.00	% 

 Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated Net Leverage Ratio shall become
effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b); provided, however, that if a Compliance Certificate is not delivered
when due in accordance with such Section, then Pricing Level 5 shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and in each case shall remain in effect until the
date on which such Compliance Certificate is delivered. 
 Notwithstanding anything to the contrary contained in this definition, the determination of the
Applicable Rate for any period shall be subject to the provisions of Section 2.10(b). 
 “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. 

“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 Section 11.06(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit E-1 or
any other form (including electronic documentation generated by use of an electronic platform) approved by the Administrative Agent. 

“Attributable Indebtedness” means, on any date, (a) in respect of any Capitalized Lease of any Person, the capitalized
amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, (b) in respect of any Synthetic Lease Obligation, the capitalized amount of the remaining lease or similar payments under the
relevant lease or other applicable agreement or instrument that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease or other agreement or instrument were accounted for as a Capitalized Lease
and (c) all Synthetic Debt of such Person; provided that notwithstanding anything to the contrary herein, the SPE Transactions shall not give rise to Attributable Indebtedness. 

“Audited Financial Statements” means the audited consolidated balance sheet of the US Borrower for the fiscal year ended
December 31, 2017, and the related consolidated statements of income or operations, partners’ capital, retained earnings and cash flows for such fiscal year of the US Borrower, including the notes thereto. 

  
 -4- 

 “Available Cash” has the meaning set forth in the US Borrower Partnership
Agreement. 
 “Available Tenor” means, as of any date of determination and with respect to the then-current Benchmark, as
applicable, (a) if the then-current Benchmark is a term rate, any tenor for such Benchmark that is or may be used for determining the length of an Interest Period or (b) otherwise, any payment period for interest calculated with
reference to such Benchmark, as applicable, pursuant to this Agreement as of such date. 

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

“Bail-In Legislation” means (a) with respect to any EEA Member Country
implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation, rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the
United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings). 

“Base Rate” means for any day a fluctuating rate per annum equal to the
highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of Montreal as its “prime rate,” and (c) the Adjusted Eurocurrency Rate for an
Interest Period of one month plus 1.00%; provided that, if such rate is less than zero, such rate shall be deemed to be zero for purposes of this Agreement. The “prime rate” is a rate set by Bank of Montreal based upon various factors
including Bank of Montreal’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 prime
rate announced by Bank of Montreal shall take effect at the opening of business on the day specified in the public announcement of such change. 

“Base Rate Loan” means a Loan denominated in Dollars that bears interest based on the Base Rate. 

“Benchmark” means, initially, the Eurocurrency Rate; provided that if a replacement of the Benchmark has occurred pursuant to
Section 3.03, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate. Any reference to “Benchmark” shall include,
as applicable, the published component used in the calculation thereof. 
 “Benchmark Replacement” means, for any Available
Tenor, 
 (a) for the purposes of Section 3.03(b)(i), the first alternative set forth in the order below that can
be determined by the Administrative Agent: 
 (1) the sum of (a) Term SOFR and (b) 0.11448% (11.448 basis points) for an Available Tenor
of one-month’s duration, 0.26161% (26.161 basis points) for an Available Tenor of three-months’ duration and 0.42826% (42.826 basis points) for an Available Tenor of
six-months’ duration; and 

  
 -5- 

 (2) the sum of (a) Daily Simple SOFR and (b) 0.11448% (11.448 basis points)); 

(b) for purposes of Section 3.03(b)(ii), the sum of: (i) the alternate benchmark rate and (ii) an
adjustment (which may be a positive or negative value or zero), in each case, that has been selected by the Administrative Agent as the replacement for such Available Tenor of such Benchmark giving due consideration to any evolving or
then-prevailing market convention, including any applicable recommendations made by the Relevant Governmental Body, for U.S. dollar-denominated syndicated credit facilities at such time; 

provided that, with respect to a Term SOFR Event, following delivery of a Term SOFR Notice, the “Benchmark Replacement” shall
revert to and shall be determined as set forth in clause (a)(1) of this definition in accordance with Section 3.03(b)(i)(B); provided further, that the Benchmark Replacement as determined pursuant to
clause (a) or (b) above would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement. 

“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or
operational changes (including changes to the definition of “Base Rate,” the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest,
timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the
Administrative Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice
(or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of such Benchmark Replacement
exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents). 

“Benchmark Transition Event” means, with respect to any then-current Benchmark other than the Eurocurrency Rate, the
occurrence of a public statement or publication of information by or on behalf of the administrator of the then-current Benchmark, the regulatory supervisor for the administrator of such Benchmark, the Board of Governors of the Federal Reserve
System, the NYFRB, an insolvency official with jurisdiction over the administrator for such Benchmark, a resolution authority with jurisdiction over the administrator for such Benchmark or a court or an entity with similar insolvency or resolution
authority over the administrator for such Benchmark, announcing or stating that (a) such administrator has ceased or will cease on a specified date to provide all Available Tenors of such Benchmark, permanently or indefinitely, provided that,
at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark or (b) all Available Tenors of such Benchmark are or will no longer be representative of the
underlying market and economic reality that such Benchmark is intended to measure and that representativeness will not be restored. 

  
 -6- 

 “Beneficial Ownership Certification” means a certification regarding
beneficial ownership required by the Beneficial Ownership Regulation. 
 “Beneficial Ownership Regulation” means 31 C.F.R.
§ 1010.230. 
 “Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is
subject to Title I of ERISA, (b) a “plan” as defined in and subject to Section 4975 of the Code, or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA
or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”. 

“Borrower” and “Borrowers” have the meaning specified in the introductory paragraph hereto. 

“Borrower Materials” has the meaning specified in Section 6.02. 

“Borrowing” means a borrowing consisting of simultaneous Loans of the same Type and, in the case of Eurocurrency Rate Loans,
having the same Interest Period, made by each of the Lenders pursuant to Section 2.01, or a Swing Line Borrowing, as the context may require. 

“Business” means the ownership, operation, development and acquisition of midstream and logistics assets and any business or
activities reasonably related, complementary or incidental thereto. 
 “Business Day” means any day other than a Saturday,
Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office with respect to Obligations is located, and, if such day relates to any
interest rate settings as to a Eurocurrency Rate Loan denominated in Dollars, any fundings, disbursements, settlements and payments in Dollars in respect of any such Eurocurrency Rate Loan, or any other dealings in Dollars to be carried out pursuant
to this Agreement in respect of any such Eurocurrency Rate Loan, means any such day that is also a London Banking Day. 
 “Canadian
Borrower” has the meaning specified in the introductory paragraph hereto. 
 “Canadian Debentures” means,
collectively, the fixed and floating charge debentures in substantially the form of the attached Exhibit I-1 or such other form as may be requested by the Administrative Agent (acting reasonably),
executed by each Canadian Loan Party, each as amended, restated, confirmed, amended and restated, supplemented, or otherwise modified from time to time. 

“Canadian Debenture Pledge Agreement” means, collectively, the debenture pledge agreements in substantially the form of the
attached Exhibit I-2 or such other form as may be requested by the Administrative Agent (acting reasonably), executed by each Canadian Loan Party, each as amended, restated, confirmed, amended and
restated, supplemented, or otherwise modified from time to time. 
 “Canadian Dollar” and “CAD” mean
lawful money of Canada. 

  
 -7- 

 “Canadian Loan Party” means the Canadian Borrower, each Loan Party
incorporated or subsisting under the laws of Canada or any province thereof and each other Loan Party which has Collateral that is real property or fixtures located in Canada. 

“Canadian Security Confirmation” means a confirmation of security in form and substance satisfactory to the Administrative
Agent made by a Canadian Loan Party in favor of the Administrative Agent. 
 “Capitalized Leases” means all leases that
have been or should be, in accordance with GAAP, recorded as capitalized leases. 
 “Cash Collateralize” means to pledge
and deposit with or deliver to the Administrative Agent, for the benefit of one or more of the L/C Issuers or Swing Line Lender (as applicable) and the Lenders, as collateral for L/C Obligations, Obligations in respect of Swing Line Loans, or
obligations of Lenders to fund participations in respect of either thereof (as the context may require), cash or deposit account balances in Dollars or, if the Administrative Agent, the applicable L/C Issuer or Swing Line Lender shall agree in their
sole discretion, other credit support, in each case pursuant to documentation in form and substance reasonably satisfactory to (a) the Administrative Agent and (b) the applicable L/C Issuer or the Swing Line Lender (as applicable).
“Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support. 

“Cash Equivalents” means any of the following types of Investments: 

 (a) readily marketable obligations issued or directly and fully guaranteed or insured by the United States of America,
Canada, or in each case, any agency or instrumentality thereof having maturities of not more than 360 days from the date of acquisition thereof; provided that the full faith and credit of the United States of America or Canada is pledged in
support thereof; 
 (b) (i) Dollar or Canadian Dollar denominated time deposits with, or Dollar or Canadian Dollar insured
certificates of deposit or Dollar or Canadian Dollar denominated bankers’ acceptances of, any commercial bank that (i) (A) is a Lender, or (B) is organized under the laws of the United States of America, any state thereof or the
District of Columbia or is the principal banking subsidiary of a bank holding company organized under the laws of (x) the United States of America, any state thereof or the District of Columbia, and is a member of the Federal Reserve System or
(y) Canada; (ii) issues (or the parent of which issues) commercial paper rated as described in clause (c) of this definition; and (iii) has combined capital and surplus of at least $1,000,000,000, in each case with maturities of
not more than 180 days from the date of acquisition thereof; 
 (c) commercial paper issued by any Person organized under the
laws of any state or province of the United States of America or Canada and rated at least “Prime-1” (or the then equivalent grade) by Moody’s or at least “A-1” (or the then equivalent grade) by S&P, or at least “R-1” (or the then equivalent grade) by Dominion Bond Rating Service Limited in each case with
maturities of not more than 180 days from the date of acquisition thereof; and 

  
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 (d) Investments, classified in accordance with GAAP as current assets of the
US Borrower or any Subsidiary, in money market investment programs registered under the Investment Company Act of 1940, which are administered by financial institutions that have the highest rating obtainable from either Moody’s or S&P, and
the portfolios of which are limited solely to Investments of the character, quality and maturity described in clauses (a), (b) and (c) of this definition. 

“Cash Management Agreement” means any agreement to provide cash management services, including treasury, depository,
overdraft, credit or debit card, electronic funds transfer and other cash management arrangements. 
 “Cash Management
Bank” means any Lender or Affiliate of a Lender and any Person that, at the time it enters into a Cash Management Agreement, is or was a Lender or an Affiliate of a Lender, in its capacity as a party to such Cash Management Agreement. 

“Casper Terminal” means the terminaling facilities owned and operated by Casper Crude to Rail, LLC located in Natrona County,
Wyoming. 
 “CERCLA” means the Comprehensive Environmental Response, Compensation and Liability Act of 1980. 

“CERCLIS” means the Comprehensive Environmental Response, Compensation and Liability Information System maintained by the
U.S. Environmental Protection Agency. 
 “CFC” means a “controlled foreign corporation” as defined in
Section 957 of the Code. 
 “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, implementation or application thereof by any Governmental
Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary, (x) the
Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for
International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “
Change in Law”, regardless of the date enacted, adopted, issued or implemented. 
 “Change of Control” means any of
the following events or conditions: (a) the General Partner shall cease to be the sole general partner of the US Borrower; (b) the Sponsors shall cease, directly or indirectly, to own and control legally and beneficially more than 50% of
the Equity Interests in the General Partner; (c) the Sponsors shall cease, directly or indirectly, to have the power to vote or direct the voting of Equity Interests in the General Partner having a majority of the ordinary voting power for the
election of the board of directors (or similar governing body) of the General Partner; (d) the Sponsors shall cease to be able, directly or indirectly, to appoint a majority of the members of the board of directors (or similar governing body)
of the General Partner; (e) the US Borrower shall cease, directly or indirectly, to own and control legally and beneficially all of the Equity Interests of the Canadian Borrower; (f) any Person or group (within the meaning of Rule 13d-5 of the Exchange Act as in effect on the Closing Date), other than any 

  
 -9- 

 
combination of the Sponsors and their Affiliates, but excluding any portfolio company of a Sponsor that is otherwise unrelated to the Borrowers, (or a single Sponsor and its Affiliates, but
excluding any portfolio company that is otherwise unrelated to the Borrowers) shall own or control legally or beneficially, directly or indirectly, in the aggregate, Equity Interests representing 35% or more of the aggregate ordinary voting power
represented by the issued and outstanding Equity Interests of the General Partner, provided that any determination of whether a Person is an Affiliate of a Sponsor under this clause (f) shall be made without giving effect to the relevant change
of control transaction being considered under this definition; or (g) a “change in control” (or equivalent definition), as defined in any document governing Indebtedness incurred pursuant to Section 7.02(h)
in an amount in excess of the Threshold Amount shall have occurred. 
 “Closing Date” means the first date all the
conditions precedent in Section 4.01 are satisfied or waived in accordance with Section 11.01. 

“Code” means the Internal Revenue Code of 1986, as amended.  

“Collateral” means, collectively, each Mortgaged Property, all of the “Collateral”, the “Charged
Premises”, and the “Debenture” referred to in the Collateral Documents and all of the other property that is or is intended under the terms of the Collateral Documents to be subject to Liens in favor of the Administrative Agent for
the benefit of the Secured Parties. 
 “Collateral Documents” means, collectively, the Security Agreement, the Canadian
Debentures, the Canadian Debenture Pledge Agreements, the Luxembourg Security Documents, intellectual property security agreements (if any), the Mortgages, each of the mortgages, collateral assignments, Security Agreement Supplements, IP Security
Agreement Supplements (if any), security agreements, pledge agreements or other similar agreements delivered to the Administrative Agent pursuant to Section 6.11, and each of the other agreements, instruments or documents
that creates or purports to create a Lien in favor of the Administrative Agent for the benefit of the Secured Parties. 

“Commercial Operation Date” means the date on which a Material Project is substantially complete and commercially
operational. 
 “Commitment” means, as to each Lender, its obligation to (a) make Loans to the Borrowers pursuant to
Section 2.01, (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the lesser of (a) the
amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Commitment” or opposite such caption in the Assignment and Assumption or joinder (pursuant to Section 2.16(c)) pursuant
to which such Lender becomes a party hereto, as applicable, and (b) such Lender’s Applicable Percentage of the Aggregate Commitments, as such amount may be adjusted from time to time in accordance with this Agreement. 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to
time, and any successor statute. 
 “Common Units” means the common units representing limited partner interests in the US
Borrower. 

  
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 “Communication” means this Agreement, any Loan Document and any document,
amendment, approval, consent, information, notice, certificate, request, statement, disclosure or authorization related to any Loan Document. 

“Compliance Certificate” means a certificate substantially in the form of Exhibit D. 

“Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or
that are franchise Taxes or branch profits Taxes. 
 “Consolidated Assets” means, at the date of any determination thereof,
the total assets of the US Borrower and its Restricted Subsidiaries as set forth, or on a pro forma basis, after giving effect to the acquisition and disposition of assets since the last day of the most recently completed fiscal quarter, would be
set forth, on a consolidated balance sheet of the US Borrower and its Restricted Subsidiaries for their most recently completed fiscal quarter, prepared in accordance with GAAP. 

“Consolidated EBITDA” means, at any date of determination, an amount equal to Consolidated Net Income of the US Borrower and
the Restricted Subsidiaries on a consolidated basis for the most recently completed Measurement Period plus (a) the following to the extent deducted in calculating such Consolidated Net Income: (i) Consolidated Interest Charges,
(ii) the provision for state, local, foreign income or withholding Taxes payable, (iii) depreciation and amortization expense, (iv) any charges or expenses (other than depreciation or amortization expense) directly incurred in
connection with any proposed or consummated issuance of Equity Interests, issuance of Indebtedness, Acquisition or Disposition permitted by this Agreement, in an aggregate amount not to exceed 15% of Consolidated EBITDA (as shown on the consolidated
financial statements of the US Borrower and the Restricted Subsidiaries most recently delivered to the Administrative Agent in accordance with Section 6.01 but without giving effect to this clause (iv) in such
calculation) for any Measurement Period, (v) goodwill or other impairment and other non-cash charges, (vi) non-cash losses resulting from Swap Contracts and
foreign currency translations, (vii) one-time transaction expenses related to the execution and delivery of this Agreement and (viii) other expenses reducing such Consolidated Net Income which do not
represent a cash item in such period (in each case of or by the US Borrower and the Restricted Subsidiaries for such Measurement Period) and minus (b) the following to the extent included in calculating such Consolidated Net Income:
(i) state, local and foreign income Tax credits, (ii) all non-cash items increasing Consolidated Net Income (in each case of or by the US Borrower and the Restricted Subsidiaries for such Measurement
Period), (iii) non-cash gains resulting from Swap Contracts and foreign currency translations. Notwithstanding anything to the contrary herein, any cash amount received by the US Borrower or any Restricted
Subsidiary in connection with any take or pay contract or similar arrangement may be included in the calculation of Consolidated EBITDA as of the date such cash amount is actually received, whether or not such cash amount is recognized as revenue of
the US Borrower or any Restricted Subsidiary in accordance with GAAP as of such date, but to the extent such cash amount is included in the calculation of Consolidated EBITDA as of the date actually received, it shall not be included in the
Consolidated EBITDA of the US Borrower or such Restricted Subsidiary as of any later date such cash is recognized as revenue of the US Borrower or any of its Restricted Subsidiaries in accordance with GAAP. 

  
 -11- 

 For purposes of calculating the Consolidated Leverage Ratio, Consolidated Senior Secured
Leverage Ratio and the Consolidated Interest Coverage Ratio for purposes of Section 7.11: 
 (a) Consolidated
EBITDA shall be calculated for each Measurement Period, on a pro forma basis, after giving effect to, without duplication, any Material Acquisition, Material Disposition or designation of an Unrestricted Subsidiary as a Restricted Subsidiary or of a
Restricted Subsidiary as an Unrestricted Subsidiary occurring during each period commencing on the first day of such period to and including the date of such transaction (the “Reference Period”), as if such Material Acquisition,
Material Disposition or designation and any related incurrence or repayment of Indebtedness occurred on the first day of the Reference Period. In making the calculation contemplated by the preceding sentence, Consolidated EBITDA generated or to be
generated by such acquired or divested Person shall be determined in good faith by the US Borrower based on reasonable assumptions; provided, however, that such pro forma calculations shall be reasonably acceptable to the
Administrative Agent supported by such information as is reasonably requested by the Administrative Agent; and 
 (b) for any Measurement
Period, Consolidated EBITDA shall be increased by the amount of any applicable Material Project EBITDA Adjustments applicable to such Measurement Period. 

“Consolidated Funded Indebtedness” means, as of any date of determination, all Indebtedness of the US Borrower and the
Restricted Subsidiaries on a consolidated basis as of such date, excluding (i) Indebtedness described in clause (c) of the definition thereof, (ii) Indebtedness under undrawn letters of credit, and (iii) Guarantees of
Indebtedness described in clause (i) or (ii) above; provided that for the avoidance of doubt, the outstanding Indebtedness attributable to any non-wholly owned Restricted Subsidiary shall be included in
Consolidated Funded Indebtedness in proportion to the percentage of Equity Interests in such non-wholly owned Restricted Subsidiary owned by the US Borrower and the wholly-owned Restricted Subsidiaries. 

“Consolidated Interest Charges” means, for any Measurement Period, the sum of (a) all cash interest, premium payments,
debt discount, fees, charges and related expenses in connection with borrowed money (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 GAAP,
(b) all interest paid or payable with respect to discontinued operations and (c) the portion of rent expense under Capitalized Leases that is treated as interest in accordance with GAAP, in each case, of or by the US Borrower and the
Restricted Subsidiaries on a consolidated basis for the most recently completed Measurement Period. 
 “Consolidated Interest
Coverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Charges. 

“Consolidated Leverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated Funded Indebtedness
as of such date to (b) Consolidated EBITDA. 

  
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 “Consolidated Net Income” means, at any date of determination, the net
income (or loss) of the US Borrower and the Restricted Subsidiaries on a consolidated basis for the most recently completed Measurement Period; provided that Consolidated Net Income shall exclude (a) extraordinary, unusual and nonrecurring
gains and extraordinary, unusual and nonrecurring losses for such Measurement Period, (b) the net income of any Restricted Subsidiary during such Measurement Period to the extent that the declaration or payment of dividends or similar
distributions by such Restricted Subsidiary of such income is not permitted by operation of the terms of its Organization Documents or any agreement, instrument or Law applicable to such Restricted Subsidiary during such Measurement Period, except
that the net income of any such Person for such Measurement Period shall be included in Consolidated Net Income up to the aggregate amount of cash actually distributed by such Person during such Measurement Period to the US Borrower or a Restricted
Subsidiary as a dividend or other distribution (and in the case of a dividend or other distribution to a Subsidiary, such Restricted Subsidiary is not precluded from further distributing such amount to the US Borrower as described in clause
(b) of this proviso) and the US Borrower’s equity in any net loss of any such Restricted Subsidiary for such Measurement Period shall be included in determining Consolidated Net Income, and (c) any income (or loss) for such
Measurement Period of any Person if such Person is not a Restricted Subsidiary, except that the US Borrower’s equity in the net income of any such Person for such Measurement Period shall be included in Consolidated Net Income up to the
aggregate amount of cash actually distributed by such Person during such Measurement Period to the US Borrower or a Restricted Subsidiary as a dividend or other distribution (and in the case of a dividend or other distribution to a
Subsidiary, such Restricted Subsidiary is not precluded from further distributing such amount to the US Borrower as described in clause (b) of this proviso); provided further that the net income (or loss) attributable to any non-wholly owned Restricted Subsidiary shall be included in Consolidated Net Income in proportion to the percentage of Equity Interests in such non-wholly owned Restricted
Subsidiary owned by the US Borrower and the wholly-owned Restricted Subsidiaries. 
 “Consolidated Net Leverage Ratio”
means, as of any date of determination, the ratio of (a)(i) Consolidated Funded Indebtedness as of such date minus (ii) Unrestricted Cash as of such date, to (b) Consolidated EBITDA. 

“Consolidated Net Tangible Assets” means, at the date of any determination, Consolidated Tangible Assets after deducting
therefrom all current liabilities, excluding (i) any current liabilities that by their terms are extendable or renewable at the option of the obligor thereon to a time more than 12 months after the time as of which the amount thereof is being
computed; and (ii) current maturities of long-term debt, all as set forth, or on a pro forma basis would be set forth, on a consolidated balance sheet of the US Borrower and its Restricted Subsidiaries for their most recently completed fiscal
quarter, prepared in accordance with GAAP. 
 “Consolidated Senior Secured Indebtedness” means all Consolidated Funded
Indebtedness that is secured by a Lien on any property or assets of US Borrower or any Restricted Subsidiary. 
 “Consolidated
Senior Secured Leverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated Senior Secured Indebtedness as of such date to (b) Consolidated EBITDA. 

“Consolidated Tangible Assets” means, at the date of any determination thereof, Consolidated Assets after deducting therefrom
the value, net of any applicable reserves and accumulated amortization, of all goodwill, trade names, trademarks, patents and other like intangible assets, all as set forth, or on a pro forma basis would be set forth, on a consolidated balance sheet
of the US Borrower and its Restricted Subsidiaries for their most recently completed fiscal quarter, prepared in accordance with GAAP. 

  
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 “Contractual Obligation” means, as to any Person, any provision of any
security issued by such Person or of any agreement, instrument, or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Contributed Assets” means the assets contributed or otherwise transferred by the applicable Contributing Affiliate to any
Loan Party, whether prior to or on October 15, 2014, including without limitation the assets contributed by certain Contributing Affiliates to the Loan Parties on or prior to October 15, 2014, as described in the Registration Statement.

 “Contributing Affiliates” means US Development Group, Parent, and the General Partner and any other Affiliate of US
Development Group, Parent, and the General Partner that contributes or otherwise transfers assets to any Loan Party, whether prior to or on October 15, 2014. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Controlled Investment Affiliates” means, with respect to any Person, any other Person (including, without limitation, any
fund or investment vehicle) that (i) directly, or indirectly through one or more intermediaries, controls or is controlled by or is under common control with the Person specified or, with respect to US Development Group, is otherwise a holding
company owner of such Person and (ii) is organized primarily for the purpose of making investments in one or more companies; provided that any determination of whether a Person is a Controlled Investment Affiliate shall be made without
giving effect to the relevant change of control transaction being considered at such time. The term “control” (including the terms “controlled by” or “under common control with”) means the possession, directly or
indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ownership of an Equity Interest, by contract or otherwise. 

“Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit Extension. 

“Crude Oil” means the unrefined mixture of liquid hydrocarbons, of any grade or specific gravity, commonly known as petroleum
or oil. 
 “Daily Simple SOFR” means, for any day, SOFR, with the conventions for this rate (which will include a lookback)
being established by the Administrative Agent in accordance with the conventions for this rate recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for syndicated business loans; provided, that if the
Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable discretion. 

  
 -14- 

 “Debtor Relief Laws” means the Bankruptcy Code of the United States, the
Bankruptcy and Insolvency Act (Canada), the Companies’ Creditors Arrangement Act (Canada), the Winding-up and Restructuring Act (Canada) and all other liquidation, conservatorship, bankruptcy, assignment for the
benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar or analogous debtor relief Laws of the United States, Canada, Luxembourg or other applicable jurisdictions from time to time in effect. 

“Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the
passage of time, or both, would be an Event of Default. 
 “Default Rate” means (a) when used with respect to
Obligations other than Letter of Credit Fees, an interest rate equal to (i) the Base Rate plus (ii) the Applicable Rate, if any, applicable to Base Rate Loans plus (iii) 2% per annum; provided, however, that
with respect to a Eurocurrency Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, and (b) when used with respect to Letter
of Credit Fees, a rate equal to the Applicable Rate plus 2% per annum. 
 “Defaulting Lender” means, subject to
Section 2.15(b), any Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the
Administrative Agent and each Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall
be specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, any L/C Issuer, the Swing Line 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 or Swing Line Loans) within two Business Days of the date when due, (b) has notified either Borrower, the Administrative Agent, any L/C Issuer or the Swing Line Lender in writing that it does not intend to
comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing 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 (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within
three Business Days after written request by the Administrative Agent or the Borrowers, to confirm in writing to the Administrative Agent and each Borrower that it will comply with its prospective funding obligations hereunder (provided that
such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrowers), (d) has, or has a direct or indirect parent company that has,
(i) become the subject of a proceeding, case or other action under any Debtor Relief Law, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person
charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state, provincial or federal regulatory authority acting in such a capacity, or (e) becomes, or whose parent
company becomes, the subject of a Bail-In Action; 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 so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of
judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative

  
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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 Section 2.15(b)) 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 each Borrower, each L/C Issuer, the Swing Line Lender and each other Lender promptly following such determination. 

“Development Rights Agreement” means the Development Rights and Cooperation Agreement, dated October 16, 2014, between
the Canadian Borrower and USD Terminals Canada II ULC, a British Columbia unlimited liability company. 
 “Development
Transactions” means the transactions and matters described in the Development Rights Agreement and the Offer to Purchase, each as in effect on October 16, 2014, as amended or modified (including by the waiver of any provision thereof)
in a manner not materially adverse to the Lenders or as otherwise amended in a manner as approved by the Administrative Agent. 

“Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition (including any sale
and leaseback transaction) of any property by any Person (or the granting of any option or other right to do any of the foregoing), including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts
receivable or any rights and claims associated therewith, and any casualty or condemnation event. 
 “Disqualified Capital
Stock” means any Equity Interest which, by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable), or upon the happening of any event, (a) matures (excluding any maturity as the result
of an optional redemption by the issuer thereof) or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof, in whole or in part (other than in Equity Interests that are
otherwise not Disqualified Capital Stock), on or prior to the ninety-first (91st) day after the latest Maturity Date (determined at the time of issuance), (b) is convertible into or exchangeable (unless at the sole option of the issuer thereof) for
(i) debt securities or (ii) any Equity Interests referred to in (a) above (other than in Equity Interests that are otherwise not Disqualified Capital Stock), in each case at any time on or prior to the ninety-first (91st) day after
the latest Maturity Date (determined at the time of issuance), or (c) contains any repurchase obligation for cash purchase which may come into effect prior to payment in full of all obligations; provided, however, that any Equity Interests that
would not constitute Disqualified Capital Stock but for provisions thereof giving holders thereof (or the holders of any security into or for which such Equity Interests is convertible, exchangeable or exercisable) the right to require the issuer
thereof to redeem such Equity Interests upon the occurrence of a change in control or an asset sale occurring prior to the ninety-first (91) day after the latest Maturity Date (determined at the time of issuance) shall not constitute
Disqualified Capital Stock if such Equity Interests provide that the issuer thereof will not redeem any such Equity Interests pursuant to such provisions prior to the repayment in full of the Obligations (other than unasserted contingent
obligations). 
 “Dollar” and “$” mean lawful money of the United States. 

“Domestic Subsidiary” means any Subsidiary that is organized under the laws of any political subdivision of the United States
that is not an Excluded Subsidiary. 

  
 -16- 

 “Early Opt-in Effective Date”
means, with respect to any Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, so long as
the Administrative Agent has not received, by 5:00 p.m. on the fifth (5th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, written notice of objection to such Early
Opt-in Election from Lenders comprising the Required Lenders. 
 “Early Opt-in Election” means, the occurrence of: 
 (1) a notification by the Administrative Agent to
(or the request by the Borrowers to the Administrative Agent to notify) each of the other parties hereto that at least five currently outstanding U.S. dollar-denominated syndicated credit facilities at such time contain (as a result of amendment or
as originally executed) a SOFR-based rate (including SOFR, a term SOFR or any other rate based upon SOFR) as a benchmark rate (and such syndicated credit facilities are identified in such notice and are publicly available for review), and 

(2) the joint election by the Administrative Agent and the Borrowers to trigger a fallback from the Eurocurrency Rate and the provision by the
Administrative Agent of written notice of such election to the Lenders. 
 “EEA Financial Institution” means (a) any
credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in
clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to
consolidated supervision with its parent. 
 “EEA Member Country” means any of the member states of the European Union,
Iceland, Liechtenstein, and Norway. 
 “EEA Resolution Authority” means any public administrative authority or any Person
entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“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. 
 “Eligible Assignee” means any Person that meets the
requirements to be an assignee under Section 11.06(b)(iii) and (v) (subject to such consents, if any, as may be required under Section 11.06(b)(iii)). 

“Energy Capital Partners” means Energy Capital Partners GP III, LP, a Delaware limited partnership. 

  
 -17- 

 “Environmental Laws” means any and all federal, provincial, state, local,
and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, agreements or governmental restrictions relating to pollution or the protection of the environment or human health (to the extent related to exposure to
Hazardous Materials), including those relating to the manufacture, generation, handling, transport, storage, treatment, Release or threatened Release of Hazardous Materials. 

“Environmental Liability” means any liability, contingent or otherwise (including any liability for damages, costs of
environmental remediation, fines, penalties or indemnities), of either Borrower, any other Loan Party, any of the Restricted Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b) the
generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) Release or threatened Release of any Hazardous Materials, or (e) any contract,
agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“Environmental Permit” means any permit, approval, identification number, license or other authorization required under any
Environmental Law. 
 “Equity Interests” means, with respect to any Person, all of the shares of capital stock of (or other
ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person, all of the securities
convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or such other interests), and all
of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on any
date of determination. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time.

 “ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with any Loan Party
within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Sections 412 and 430 of the Code and Sections 302 and 303 of ERISA). 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the withdrawal of a Loan Party or
any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or a cessation of operations that is treated
as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by a Loan Party or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing
of a notice of intent to terminate a Pension Plan or the treatment of a Pension Plan amendment as a termination under Section 4041 or 4041A of ERISA; (e) the institution by the PBGC of proceedings to terminate a Pension Plan; (f) any
event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (g) the determination that any Pension Plan or Multiemployer Plan,

  
 -18- 

 
as applicable, is considered an at-risk plan or a plan in endangered or critical status within the meaning of Sections 430, 431 and 432 of the Code or
Sections 303, 304 and 305 of ERISA; (h) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon a Loan Party or any ERISA Affiliate; or (i) a
failure by a Loan Party or any ERISA Affiliate to meet all applicable requirements under the Pension Funding Rules in respect of a Pension Plan, whether or not waived, or the failure by a Loan Party or any ERISA Affiliate to make any required
contribution to a Multiemployer Plan. 
 “EU Bail-In Legislation Schedule” means
the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time. 

“Eurocurrency Rate” means, with respect to any Credit Extension, the rate per annum equal to the London Interbank Offered
Rate (“LIBOR”) or a comparable or successor rate which rate is approved by the Administrative Agent, determined by reference to the ICE Benchmark Administration (“ICE”) (or the successor thereto), as published on
the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) at approximately 11:00 a.m., London time, two Business Days prior to the
commencement of such Interest Period (the “Published LIBO Rate”), for deposits in Dollars (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period and (b) for any rate calculation
with respect to a Base Rate Loan on any date, the rate per annum equal to the Published LIBO Rate, at approximately 11:00 a.m., London time determined two Business Days prior to such date for Dollar deposits with a term of one month commencing that
day; provided, in each case, that if the Published LIBO Rate is less than zero, such rate shall be deemed to be zero for purposes of this Agreement. If any such rate is not available at such time for any reason, then the Published LIBO Rate
shall be (x) a comparable successor or alternative interbank rate for deposits in Dollars that is, at such time, broadly accepted by the syndicated loan market in the United States in lieu of the Published LIBO Rate and is reasonably acceptable
to the Administrative Agent in consultation with the US Borrower or (y) solely if no such broadly accepted comparable successor interbank rate exists at such time, a successor or alternative index rate as the Administrative Agent may
determine, in consultation with the US Borrower, with the consent of the Required Lenders; provided that if such alternate rate of interest shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement. In
the event that a Benchmark Replacement to the Eurocurrency Rate is implemented in accordance with Section 3.03, then all references herein (other than in Section 3.03(b)(i)(A)) to the Eurocurrency
Rate shall be deemed references to such Benchmark Replacement. 
 “Eurocurrency Rate Loan” means a Loan denominated in
Dollars that bears interest at a rate based on the Adjusted Eurocurrency Rate. 
 “Event of Default” has the meaning
specified in Section 8.01. 
 “Exchange Act” means the Securities Exchange Act of 1934. 

“Excluded Account” means the account identified in the Schedules to the Security Agreement as the “Excluded
Account”. 

  
 -19- 

 “Excluded Subsidiary” means (a) each Foreign Subsidiary that is a CFC
formed or acquired by the US Borrower and its Restricted Subsidiaries after the Closing Date, (b) each Subsidiary of the US Borrower all or substantially all of the assets of which are Equity Interests in a CFC, and (c) a Subsidiary of a
CFC, in each case of clauses (a), (b), and (c), with respect to which the US Borrower determines in good faith and in consultation with the Administrative Agent that providing a guarantee of the Facility would result in adverse U.S. federal income
Tax consequences; provided that (i) in no event shall a Loan Party as of the Closing Date be or be deemed to be an Excluded Subsidiary and (ii) as of any date, the Excluded Subsidiaries shall not have (x) assets having
an aggregate book value, as of the end of the fiscal year most recently ended exceeding 10% of the aggregate book value of the US Borrower and the Restricted Subsidiaries on a consolidated basis or (y) Consolidated EBITDA exceeding 10% of the
Consolidated EBITDA of the US Borrower and the Restricted Subsidiaries on a consolidated basis. 
 “Excluded Swap
Obligations” means, with respect to any Guarantor, any Swap Obligation, if, and to the extent that, all or a portion of the Guarantee by such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap
Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation, or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of
such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act (determined after giving effect to Section 11.14 and any other “keepwell,
support or other agreement” for the benefit of such Guarantor and any and all Guarantees of such Guarantor’s Swap Obligations by other Loan Parties) at the time the Guarantee of such Guarantor, or a grant by such Guarantor of a security
interest, becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps
for which such Guarantee or security interest is or becomes excluded in accordance with the first sentence of this definition. 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to any Recipient or required to be withheld or
deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws
of, or having its principal office or, in the case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a
Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a Law in effect on the date on which (i) such Lender acquires such
interest in the Loan or Commitment (other than pursuant to an assignment request by a Borrower under Section 11.13) or (ii) such Lender changes its Lending Office, except in each case to the extent that, pursuant to
Section 3.01, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its Lending Office,
(c) Taxes attributable to such Recipient’s failure to comply with Section 3.01(f), (d) any U.S. federal withholding Taxes imposed pursuant to FATCA, and any Taxes or penalties arising from a Lender’s failure
to properly comply with its obligations imposed under Part XVIII of the Income Tax Act (Canada) and the Canada-United States Enhanced Tax Information Exchange Agreement Implementation Act (Canada) or the similar provisions of
legislation of any other jurisdiction that has entered into an agreement with the United States of America to provide for the implementation of FATCA-based reporting in that jurisdiction, and (e) any Taxes in respect of the RELIBI Law. 

  
 -20- 

 “Exclusionary Flood Language” means exclusionary flood language in form and
substance satisfactory to the Administrative Agent in its reasonable discretion (after consultation with the US Borrower), including, but not limited to, language stating that notwithstanding any provision in the applicable Mortgage to the contrary,
unless otherwise agreed to by the Borrowers, the Administrative Agent, and the Required Lenders, in no event is any Building (as defined in the applicable Flood Insurance Laws) or Manufactured (Mobile) Home (as defined in the applicable Flood
Insurance Laws) located in a “special flood hazard area” included in the definition of “Collateral” and no such Building or Manufactured (Mobile) Home shall be encumbered by such applicable Mortgage. 

“Existing Commitments” means the “Commitments” as defined in the Existing Credit Agreement and in effect
immediately prior to the effectiveness of this Agreement. 
 “Existing Credit Agreement” has the meaning specified in the
Preliminary Statements hereto. 
 “Existing L/C Advances” means the “L/C Advances” as defined in the Existing
Credit Agreement. 
 “Existing Lenders” has the meaning specified in the Preliminary Statements hereto. 

“Existing Loans” means the “Loans” as defined in the Existing Credit Agreement. 

“Exiting Lender” means any lender that is a party to the Existing Credit Agreement as of the Closing Date that is not a
Lender under this Agreement. 
 “Extending Lender” has the meaning specified in Section 2.17(b).

 “Extension Effective Date” has the meaning specified in Section 2.17(b). 

“Extension Request” has the meaning specified in Section 2.17(a). 

“Facility” means the facility comprised of the Aggregate Commitments. 

“FASB ASC” means the Accounting Standards Codification of the Financial Accounting Standards Board. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version
that is substantially comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or
regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and implementing such Sections of the Code. 

  
 -21- 

 “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 arranged by Federal funds brokers on such day, as published by the NYFRB 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 immediately preceding Business Day as so published on the next succeeding Business Day, (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 Bank of Montreal on such day on such transactions as
determined by the Administrative Agent, and (c) if such rate is less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Fee Letters” means, collectively, (i) the Administrative Agent Fee Letter, as amended by the Fee Letter Amendment (each
as defined in Amendment No. 1), and (ii) the JLA Fee Letter (as defined in Amendment No. 1). 
 “Finance Co”
shall mean any direct, wholly-owned Subsidiary of the US Borrower incorporated to become or otherwise serving as a co-issuer or co-borrower of Indebtedness permitted by
this Agreement, which Subsidiary meets the following conditions at all times: (a) the provisions of Section 6.11 have been complied with in respect of such Subsidiary, and such Subsidiary is a Restricted Subsidiary and a Loan Party,
(b) such Subsidiary shall be a Domestic Subsidiary that is a corporation, and (d) such Subsidiary has not (i) incurred, directly or indirectly any Indebtedness or any other obligation or liability whatsoever other than the
Indebtedness that it was formed to co-issue or co-borrow (including, for the avoidance of doubt, any additional series, tranche or issuance of such type of Indebtedness)
and for which it serves as co-issuer or co-borrower, (ii) engaged in any business, activity or transaction, or owned any property, assets or Equity Interests other
than (A) performing its obligations and activities incidental to the coissuance or co-borrowing of the Indebtedness that it was formed to co-issue or co-borrower and (B) other activities incidental to the maintenance of its existence, including legal, tax and accounting administration, (iii) consolidated with or merged with or into any Person, or
(iv) failed to hold itself out to the public as a legal entity separate and distinct from all other Persons. 
 “Financial
Officer” means the chief executive officer, chief financial officer, treasurer, chief accounting officer or controller (or equivalent officer with similar responsibilities) of a Loan Party or of the general partner acting on behalf of a
Loan Party. 
 “Flood Insurance Laws” means (a) the National Flood Insurance Act of 1968 as now or hereafter in effect
or any successor statute thereto, (b) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statute thereto, (c) the National Flood Insurance Reform Act of 1994 (amending 42 USC §4001, et. seq.), as
now or hereafter in effect or any successor statute thereto, (d) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto, (e) the Biggert-Waters Flood Insurance Act of 2012 as now or hereafter
in effect or any successor statute thereto, and (e) any regulations promulgated under any of the foregoing statutes. 

“Floor” means the benchmark rate floor, if any, provided in this Agreement initially (as of the execution of this Agreement,
the modification, amendment or renewal of this Agreement or otherwise) with respect to the Eurocurrency Rate. 

  
 -22- 

 “Foreign Lender” means, with respect to either Borrower, (a) if such
Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if such Borrower is not a U.S. Person, a Lender that is resident or organized under the Laws of a jurisdiction other than that in which such Borrower is resident for tax
purposes. For purposes of this definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

“Foreign Obligor” means a Loan Party that is a Foreign Subsidiary. 

“Foreign Plan” means each employee benefit plan (within the meaning of Section 3(3) of ERISA, whether or not subject to
ERISA) that is not subject to U.S. law and is maintained or contributed to by any Loan Party or any ERISA Affiliate. 
 “Foreign
Subsidiary” means any Subsidiary that is organized under the laws of a jurisdiction other than the United States, a State thereof or the District of Columbia. 

“Fronting Exposure” means, at any time there is a Defaulting Lender or in connection with the expiration of a Terminating
Lender’s Commitment, (a) with respect to an L/C Issuer, such Defaulting Lender’s or such Terminating Lender’s Applicable Percentage of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting
Lender’s or such Terminating Lender’s participation obligation has been reallocated to other Lenders or Cash Collateralized in accordance with the terms hereof, and (b) with respect to the Swing Line Lender, such Defaulting
Lender’s or such Terminating Lender’s Applicable Percentage of Swing Line Loans other than Swing Line Loans as to which such Defaulting Lender’s or such Terminating Lender’s participation obligation has been reallocated to other
Lenders 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 activities. 

“GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of
the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a significant segment of the
accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied. 

“General Partner” means USD Partners GP LLC, a Delaware limited liability company, or any substitute or replacement entity
thereto that serves as a general partner of the US Borrower and is a direct or indirect Subsidiary of US Development Group. 

“Governmental Authority” means the government of the United States, the government of Canada, or any other nation, or of any
political subdivision thereof, whether state, provincial, local or tribal, 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). 

  
 -23- 

 “Guarantee” means, as to any Person, any (a) obligation, contingent or
otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any
obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness, (ii) to purchase or lease property, securities or services for the purpose of assuring the
obligee in respect of such Indebtedness of the payment or performance of such Indebtedness, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary
obligor so as to enable the primary obligor to pay such Indebtedness, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness of the payment or performance thereof or to protect such
obligee against loss in respect thereof (in whole or in part), or (b) Lien on any assets of such Person securing any Indebtedness of any other Person, whether or not such Indebtedness is assumed by such Person (or any right, contingent or
otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which
such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding
meaning. 
 “Guarantors” means the Borrowers and the Restricted Subsidiaries listed on
Schedule 6.11 and each other Restricted Subsidiary that shall be required to execute and deliver a guaranty or guaranty supplement pursuant to Section 6.11; provided, that notwithstanding
anything to the contrary in this Agreement, Excluded Subsidiaries shall not be required to be Guarantors hereunder. 

“Guaranty” means the Amended and Restated Guaranty Agreement made by the Guarantors in favor of the Administrative Agent for
the benefit of the Secured Parties in substantially the form attached hereto as Exhibit F, or such other form as may be requested by the Administrative Agent (acting reasonably), together with each other guaranty and guaranty supplement
delivered pursuant to Section 6.11, as amended, amended and restated, supplemented or otherwise modified from time to time. 

“Hardisty Terminal” means the terminaling facilities owned and operated by the Canadian Borrower located in Hardisty,
Alberta, Canada. 
 “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, natural gas, natural gas liquids, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, toxic mold, infectious or medical wastes
and all other substances, wastes, chemicals, pollutants, contaminants or compounds of any nature in any form regulated pursuant to any Environmental Law. 

“Hedge Bank” means any Lender or Affiliate of a Lender and any Person that is or, at the time it entered into a Swap Contract
permitted under Article VII was, a Lender or an Affiliate of a Lender, in its capacity as a party to such Swap Contract. 

  
 -24- 

 “Indebtedness” means, as to any Person at a particular time, without
duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: 
 (a) all obligations of
such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; 

(b) the maximum amount of all direct or contingent obligations of such Person arising under letters of credit (including standby and
commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; 
 (c) net obligations of such Person under
any Swap Contract; 
 (d) all obligations of such Person to pay the deferred purchase price of property or services (other than
(i) trade accounts payable in the ordinary course of business and not past due for more than 90 days, and (ii) earn-outs); 
 (e)
indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness
shall have been assumed by such Person or is limited in recourse; 
 (f) all Attributable Indebtedness in respect of Capitalized Leases and
Synthetic Lease Obligations of such Person and all Synthetic Debt of such Person; 
 (g) all obligations of such Person to purchase, redeem,
retire, defease or otherwise make any payment in respect of any Disqualified Capital Stock in such Person or any other Person or any warrant, right or option to acquire such Disqualified Capital Stock, valued, in the case of a redeemable preferred
interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; and 
 (h) all
Guarantees of such Person in respect of any of the foregoing. 
 For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of
any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person. The outstanding Indebtedness attributable to any non-wholly owned Restricted Subsidiary shall be included in proportion to the percentage of
Equity Interests in such non-wholly owned Restricted Subsidiary owned by the US Borrower and the wholly-owned Restricted Subsidiaries. The amount of any net obligation under any Swap Contract on any date shall
be deemed to be the Swap Termination Value thereof as of such date. 
 “Indemnified Taxes” means (a) Taxes, other than
Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in clause (a), Other Taxes. 

“Indemnitees” has the meaning specified in Section 11.04(b). 

“Information” has the meaning specified in Section 11.07. 

  
 -25- 

 “Initial Compliance Certificate” means the Compliance Certificate delivered
pursuant to Section 6.02 for the fiscal quarter ended September 30, 2018. 
 “Interest Payment
Date” means, (a) as to any Eurocurrency Rate Loan, the last day of each Interest Period applicable to such Loan and the applicable Maturity Date for such Loan; provided, however, that if any Interest Period for a
Eurocurrency Rate Loan exceeds three months, the respective dates that fall every three months after the beginning of such Interest Period shall also be Interest Payment Dates; and (b) as to any Base Rate Loan or Swing Line Loan, the last
Business Day of each March, June, September and December and the applicable Maturity Date for such Loan. 
 “Interest
Period” means as to each Eurocurrency Rate Loan, the period commencing on the date such Eurocurrency Rate Loan is disbursed or converted to or continued as a Eurocurrency Rate Loan and ending on the date one, three or six months thereafter
(in each case, subject to availability), as selected by the applicable Borrower in its Loan Notice, or a period of twelve months if requested by such Borrower and consented to by all the Lenders; provided that: 

(a) any Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next succeeding Business Day
unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; 

(b) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding
day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and 

(c) no Interest Period shall extend beyond the Maturity Date applicable to such Loan. 

“Investment” means, as to any Person, any direct or indirect Acquisition or investment by such Person in another Person,
whether by means of (a) the purchase or other acquisition of Equity Interests of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or
interest in, another Person, or (c) an Acquisition. For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, less any returns in the form of cash distributions from such Investment. 

“IP Security Agreement Supplements” means any Patent Security Agreement Supplement, Trademark Security Agreement Supplement
and Copyright Security Agreement Supplement (as such terms are defined in the Security Agreement) executed by any Loan Party. 

“IRS” means the United States Internal Revenue Service. 

“ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the
Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance). 

“Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit Application, and any other document,
agreement and instrument entered into by an L/C Issuer and the applicable Borrower (or any Restricted Subsidiary) or in favor of such L/C Issuer and relating to such Letter of Credit. 

  
 -26- 

 “Joint Lead Arrangers” means BMO Capital Markets, Citibank, N.A., and U.S.
Bank, each in its capacity as Joint Lead Arranger. 
 “Laws” means, collectively, all international, foreign, federal,
state, provincial and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged
with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or
not having the force of law. 
 “L/C Advance” means, with respect to each Lender, such Lender’s funding of its
participation in any L/C Borrowing in accordance with its Applicable Percentage. All L/C Advances shall be denominated in Dollars. 

“L/C Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit which has not been
reimbursed on the date when made or refinanced as a Borrowing. All L/C Borrowings shall be denominated in Dollars. 
 “L/C Credit
Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof. 

“L/C Issuer” means each of Bank of Montreal, U.S. Bank, and Citibank, N.A., each in its capacity as issuer of Letters of
Credit hereunder, and any other Lenders selected by the Borrowers that agree to become an L/C Issuer hereunder, or any successor issuer or issuers of Letters of Credit hereunder. 

“L/C Issuer Sublimit” means, with respect to each L/C Issuer, the limit set opposite such L/C Issuer under the heading
“Sublimit” in the table below (or with respect to a Person who becomes an L/C Issuer after the date hereof, the amount agreed in writing between such L/C Issuer and the Borrowers and notified to the Administrative Agent), subject to
the modifications to such limits arising under Section 11.01: 
  

					
	 L/C Issuer
	  	Sublimit	 
	 Bank of Montreal
	  	$	6,666,666.68	 
	 Citibank, N.A.
	  	$	6,666,666.66	 
	 U.S. Bank
	  	$	6,666,666.66	 

  
 -27- 

 “L/C Obligations” means, as at any date of determination, the aggregate
amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the
amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still
be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 

“Lender” has the meaning specified in the introductory paragraph hereto and, unless the context requires otherwise, includes
the Swing Line Lender. 
 “Lending Office” means, as to any Lender, the office or offices of such Lender described as such
in such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify each Borrower and the Administrative Agent which office may include any Affiliate of such Lender or any domestic or foreign
branch of such Lender or such Affiliate. Unless the context otherwise requires each reference to a Lender shall include its applicable Lending Office. 

“Letter of Credit” means any standby letter of credit issued hereunder. 

“Letter of Credit Application” means an application and agreement for the issuance or amendment of a Letter of Credit in the
form from time to time in use by the applicable L/C Issuer. 
 “Letter of Credit Expiration Date” means the day that is
five Business Days prior to the latest Maturity Date or, if such day is not a Business Day, the next preceding Business Day. 

“Letter of Credit Fee” has the meaning specified in Section 2.03(h). 

“Letter of Credit Sublimit” means an amount equal to $20,000,000. The Letter of Credit Sublimit is part of, and not in
addition to, the Aggregate Commitments. 
 “LIBOR” has the meaning specified in the definition of Eurocurrency Rate. 

“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other),
charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of
way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing). 

“Loan” means an extension of credit by a Lender to a Borrower under Article II in the form of a
loan and, unless the context requires otherwise, includes Swing Line Loans. 
 “Loan Documents” means, collectively,
(a) this Agreement, (b) the Notes, (c) the Guaranty, (d) the Collateral Documents, (e) each Issuer Document, (f) the Fee Letters and (g) any certificates delivered in connection with the foregoing and any other
document from time to time executed in connection with the foregoing and designated as a “Loan Document”. 

  
 -28- 

 “Loan Notice” means a notice of (a) a Borrowing, (b) a conversion
of Loans from one Type to the other, or (c) a continuation of Eurocurrency Rate Loans pursuant to Section 2.02(a), which shall be substantially in the form of Exhibit A or such other form as
may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the
applicable Borrower. 
 “Loan Parties” means, collectively, each Borrower and each Guarantor. 

“London Banking Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London
interbank eurodollar market. 
 “Luxembourg” means the Grand Duchy of Luxembourg. 

“Luxembourg Account Pledge Agreement 1” means the Luxembourg Law governed deposit account pledge agreement dated as of
October 15, 2014, entered into by Luxembourg Guarantor 1 as pledgor and the Administrative Agent, over the accounts of the Luxembourg Guarantor 1 held in Luxembourg and in favor of the Administrative Agent for the benefit of the Secured
Parties, as amended, confirmed, amended and restated, supplemented, or otherwise modified from time to time. 
 “Luxembourg Account
Pledge Agreement 2” means the Luxembourg Law governed deposit account pledge agreement dated of the date as of October 15, 2014, entered into by Luxembourg Guarantor 2 as pledgor and the Administrative Agent, over the accounts of the
Luxembourg Guarantor 2 held in Luxembourg and in favor of the Administrative Agent for the benefit of the Secured Parties, as amended, confirmed, amended and restated, supplemented, or otherwise modified from time to time. 

“Luxembourg Account Pledge Agreements” means the Luxembourg Account Pledge Agreement 1 and the Luxembourg Account Pledge
Agreement 2 and any other Luxembourg Law governed account pledge agreement over the accounts of a Loan Party held in Luxembourg, granted by such Loan Party as pledgor, in favor of the Administrative Agent for the benefit of the Secured Parties, each
as amended, confirmed, amended and restated, supplemented, or otherwise modified from time to time. 
 “Luxembourg Companies
Register” means the Luxembourg Register of Commerce and Companies (R.C.S Luxembourg). 
 “Luxembourg Guarantor
1” means USD Terminals International S.à r.l., a private limited liability company (société à responsabilité limitée) organized and established under the laws of Luxembourg, with its
registered office at 6, rue Guillaume Schneider, L-2522 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Companies Register under number B181650. 

“Luxembourg Guarantor 2” means USD Rail International S.à r.l., a private limited liability company
(société à responsabilité limitée) organized and established under the laws of Luxembourg, with its registered office at 6, rue Guillaume Schneider,
L-2522 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Companies Register under number B181698. 

  
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 “Luxembourg Loan Parties” means any Loan Party incorporated or having its
registered office or place of central administration located in Luxembourg. 
 “Luxembourg Receivables Pledge Agreement 1”
means the Luxembourg Law governed receivables pledge agreement entered into by Luxembourg Guarantor 1 as pledgor and the Administrative Agent dated as of October 15, 2014, in favor of the Administrative Agent for the benefit of the Secured
Parties, over the receivables held by Luxembourg Guarantor 1, as amended, confirmed, amended and restated, supplemented, or otherwise modified from time to time. 

“Luxembourg Receivables Pledge Agreement 2” means the Luxembourg Law governed receivables pledge agreement entered into by
Luxembourg Guarantor 2 as pledgor and the Administrative Agent dated as of October 15, 2014, in favor of the Administrative Agent for the benefit of the Secured Parties, over the receivables held by Luxembourg Guarantor 2, as amended,
confirmed, amended and restated, supplemented, or otherwise modified from time to time. 
 “Luxembourg Receivables Pledge
Agreements” means the Luxembourg Receivables Pledge Agreement 1 and the Luxembourg Receivables Pledge Agreement 2. 

“Luxembourg Security Assignment and Confirmation” means a master security assignment and confirmation agreement governed by
Luxembourg law dated as of the Amendment No. 1 Effective Date that confirms the security interests created by the Luxembourg Security Documents, duly executed by USD Rail LP, USD Logistics Operations LP, and each Luxembourg Loan Party, as
amended, amended and restated, supplemented, or otherwise modified from time to time. 
 “Luxembourg Security Confirmation”
means a master security confirmation agreement governed by Luxembourg law dated as of November 2, 2018 that confirms the security interests created by the Luxembourg Security Documents, duly executed by USD Rail LP, USD Logistics Operations LP,
and each Luxembourg Loan Party, as amended, amended and restated, supplemented, or otherwise modified from time to time. 

“Luxembourg Security Documents” means the Luxembourg Share Pledge Agreements, the Luxembourg Account Pledge Agreements, the
Luxembourg Receivables Pledge Agreements, the Luxembourg Security Confirmation, and the Luxembourg Security Assignment and Confirmation. 

“Luxembourg Share Pledge Agreement 1” means the Luxembourg Law governed share pledge agreement dated as of October 15,
2014, entered into by USD Logistics Operations LP as pledgor, the Administrative Agent and in the presence of Luxembourg Guarantor 1, over the shares of the Luxembourg Guarantor 1 and in favor of the Administrative Agent for the benefit of the
Secured Parties, as amended, confirmed, amended and restated, supplemented, or otherwise modified from time to time. 
 “Luxembourg
Share Pledge Agreement 2” means the Luxembourg Law governed share pledge agreement dated as of October 15, 2014, entered into by USD Rail LP as pledgor, the Administrative Agent and in the presence of Luxembourg Guarantor 2, over the
shares of the Luxembourg Guarantor 2 and in favor of the Administrative Agent for the benefit of the Secured Parties, as amended, confirmed, amended and restated, supplemented, or otherwise modified from time to time. 

  
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 “Luxembourg Share Pledge Agreements” means the Luxembourg Share Pledge
Agreement 1 and the Luxembourg Share Pledge Agreement 2. 
 “Material Acquisition” means any Acquisition made by the
Borrowers or the Restricted Subsidiaries in which the Acquisition Consideration therefor exceeds $10,000,000. 
 “Material Adverse
Effect” means (a) a material adverse change in, or a material adverse effect upon, the business, assets, financial condition or operations of the US Borrower and its Restricted Subsidiaries, taken as a whole; (b) a material
impairment of the rights and remedies of the Administrative Agent or any Lender under any Loan Document or of the ability of the Loan Parties, taken as a whole, to perform their material obligations under any Loan Document; or (c) a material
adverse effect upon the legality, validity, binding effect or enforceability against any Borrower or the Loan Parties, taken as a whole, of the Loan Documents, taken as a whole. 

“Material Contract” means (a) the Contractual Obligations listed on Schedule 5.25, (b) any other Contractual
Obligation entered into on or after the date of this Agreement to which any Loan Party is a party and which otherwise constitutes a material agreement or material instrument relating to the acquisition of, or establishment of, material assets (which
assets would constitute 10% or more of the Consolidated Assets of the Loan Parties after giving effect to such acquisition or establishment) or material operations (which operations would constitute 10% or more of the anticipated revenues of the
Loan Parties after giving effect to such acquisition or establishment) by any Loan Party, and (c) any other Contractual Obligation which, if terminated or cancelled, could reasonably be expected to have a Material Adverse Effect. 

“Material Disposition” means any Disposition made by the Borrowers or the Restricted Subsidiaries in which the consideration
therefor exceeds $10,000,000. 
 “Material Project” means the construction or expansion of any capital project of the US
Borrower or any Restricted Subsidiary or any entity with respect to which it holds an equity method investment, the aggregate capital cost of which exceeds $2,500,000. 

“Material Project EBITDA Adjustments” shall mean, with respect to each Material Project: 

(a) prior to the Commercial Operation Date of a Material Project (but including the fiscal quarter in which such Commercial Operation Date
occurs), a percentage (based on the then-current completion percentage of such Material Project) of an amount to be approved by the Administrative Agent as the projected Consolidated EBITDA attributable to such Material Project (or in the case of a
Material Project that already generates actual Consolidated EBITDA, the projected increase to Consolidated EBITDA attributable to such Material Project) for the first 12-month period following the scheduled
Commercial Operation Date of such Material Project (such amount to be determined based on (i) fee-based Consolidated EBITDA related to such Material Project and approved by the Administrative Agent in its
sole discretion, less expenses related thereto, and (ii) other factors reasonably deemed appropriate by Administrative Agent), which may, at the US Borrower’s option, be added to actual Consolidated EBITDA for the fiscal quarter in which
construction of such Material Project commences and for each fiscal quarter thereafter until the Commercial Operation Date of such Material Project (including the fiscal quarter in which such Commercial Operation Date occurs, but net of any actual
Consolidated EBITDA attributable 

  
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to such Material Project following such Commercial Operation Date); provided that if the actual Commercial Operation Date does not occur by the scheduled Commercial Operation Date, then
the foregoing amount shall be reduced, for quarters ending after the scheduled Commercial Operation Date to (but excluding) the first full quarter after its Commercial Operation Date, by the following percentage amounts depending on the period of
delay (based on the period of actual delay or then-estimated delay, whichever is longer): (i) 90 days or less, 0%, (ii) longer than 90 days, but not more than 180 days, 25%, (iii) longer than 180 days but not more than 270 days, 50%, and
(iv) longer than 270 days, 100%; and 
 (b) beginning with the first full fiscal quarter following the Commercial Operation Date
of a Material Project and for the two immediately succeeding fiscal quarters, an amount to be approved by the Administrative Agent as the projected Consolidated EBITDA (or, as applicable, the projected increase in Consolidated EBITDA) attributable
to such Material Project (determined in the same manner as set forth in clause (a) above) for the balance of the four full fiscal quarter period following such Commercial Operation Date, which may, at the US Borrower’s option, be added to
actual Consolidated EBITDA for such fiscal quarters. 
 Notwithstanding the foregoing: 

(a) No such additions shall be allowed with respect to any Material Project unless: 

(i) not later than 30 days (or such shorter time as the Administrative Agent may agree in its sole discretion) prior to the
delivery of a Compliance Certificate pursuant to Section 6.02(b) to the extent Material Project EBITDA Adjustments will be made to Consolidated EBITDA in determining compliance with the covenants set forth in
Section 7.11, the US Borrower shall have delivered to the Administrative Agent a written request for Material Project EBITDA Adjustments setting forth (A) the scheduled Commercial Operation Date for such Material
Project, (B) pro forma projections of Consolidated EBITDA attributable to such Material Project, (C) information, as applicable, regarding (1) customer contracts relating to such Material Project (or negotiated settlements in
connection with such Material Project), (2) the creditworthiness of the other parties to such contracts or settlements, as the case may be, (3) projected revenues from such contracts or settlements, as the case may be, (4) projected
capital costs and expenses, and (5) the other assumptions used to project revenues of the US Borrower and its Restricted Subsidiaries, and (D) such other information previously requested by the Administrative Agent which it reasonably
deemed necessary to approve such Material Project EBITDA Adjustments, and 
 (ii) prior to the date such certificate is
required to be delivered, the Administrative Agent shall have approved (such approval not to be unreasonably withheld) such projections and shall have received such other information and documentation as the Administrative Agent may reasonably
request, all in form and substance satisfactory to the Administrative Agent; and 
 (b) the aggregate amount of all Material Project EBITDA
Adjustments during any period shall be limited to 15% of the total actual Consolidated EBITDA of the US Borrower and the Restricted Subsidiaries for such period (which total actual Consolidated EBITDA shall be determined without including any
Material Project EBITDA Adjustments). 

  
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 “Material Real Property” means, as of any applicable date of determination,
(a) the Hardisty Terminal; (b) the Casper Terminal; (c) the Stroud Terminal; (d) any other contiguous parcels of real property owned or leased by the US Borrower or any Restricted Subsidiary, or in which the US Borrower or any
Restricted Subsidiary has an easement or other real property interest in, that collectively have a fair market value of $15,000,000 or more, or that is necessary for the operation of any Material Real Property; and (e) if the aggregate fair
market value of the real property Collateral at any time is less than 80% of the aggregate fair market value of all of the real property owned or leased by the US Borrower and the Restricted Subsidiaries, then such other real property owned or
leased by the US Borrower or any of the Restricted Subsidiaries as would, after giving effect to a Mortgage thereon and such real property’s becoming Collateral, cause the aggregate fair market value of the real property Collateral to be at
least 80% of the aggregate fair market value of all of the real property owned or leased by the US Borrower and the Restricted Subsidiaries. As used herein, “real property” includes, without limitation, all rights of way, servitudes,
easements and other real property interests of the US Borrower or any Restricted Subsidiary. 
 “Maturity Date” means, for
any Lender, November 2, 2023, as the same may be extended for such Lender pursuant to, and subject to the terms and conditions of, Section 2.17; provided, however, that if such date is not a Business Day,
the Maturity Date shall be the immediately preceding Business Day. 
 “Measurement Period” means, at any date of
determination, the most recently completed four fiscal quarters of the US Borrower or, if fewer than four consecutive fiscal quarters of the US Borrower have been completed since the Closing Date, the fiscal quarters of the US Borrower that have
been completed since the Closing Date. 
 “Minimum Collateral Amount” means, at any time, (a) with respect to Cash
Collateral consisting of cash or deposit account balances provided to reduce or eliminate Fronting Exposure during the existence of a Defaulting Lender, an amount equal to 102% of the Fronting Exposure of each L/C Issuer with respect to Letters of
Credit issued and outstanding at such time, (b) with respect to Cash Collateral consisting of cash or deposit account balances provided in accordance with the provisions of Section 2.14(a)(i), (a)(ii) or
(a)(iii), an amount equal to 103% of the Outstanding Amount of all LC Obligations, and (c) otherwise, an amount determined by the Administrative Agent and the applicable L/C Issuer in their sole discretion. 

“Moody’s” means Moody’s Investors Service, Inc. and any successor thereto. 

“Mortgage” means any deed of trust, trust deeds, deed to secure debt, mortgage, assignment of leases and rents, leasehold
mortgage, debenture or other similar security agreement executed by a Loan Party in favor of the Administrative Agent for the benefit of the Secured Parties granting a Lien on any Material Real Property to secure all or any portion of the
Obligations. Each Mortgage shall be in a form and substance reasonably satisfactory to the Administrative Agent. 
 “Mortgaged
Properties” means all of the real property referred to in the Mortgages and all of the other property that is or is intended under the terms of the Mortgages to be subject to Liens in favor of the Administrative Agent for the benefit of the
Secured Parties. 

  
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 “Multiemployer Plan” means any employee benefit plan of the type described
in Section 4001(a)(3) of ERISA, to which a Loan Party or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding six plan years, has made or been obligated to make contributions. 

“Multiple Employer Plan” means a Plan which has two or more contributing sponsors (including a Loan Party or any ERISA
Affiliate) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA. 
 “Non-Consenting Lender” means any Lender that does not approve any consent, waiver or amendment that (a) requires the approval of all Lenders or all affected Lenders in accordance with the terms of
Section 11.01 and (b) has been approved by the Required Lenders. 

“Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting
Lender at such time. 
 “Non-Extending Lender” has the meaning specified in
Section 2.17(b). 
 “Non-Recourse Debt” means
Indebtedness: (a) as to which neither Borrower nor any Restricted Subsidiary (i) provides credit support of any kind (including any undertaking, agreement or instrument that would constitute Indebtedness) or (ii) is directly or
indirectly liable as a guarantor or otherwise, in each case, other than a pledge of the Equity Interests of an Unrestricted Subsidiary that is an obligor on such Indebtedness; and (b) as to which the lenders will not have any recourse to the
stock or assets of either Borrower or any Restricted Subsidiary except as contemplated Section 7.01(m). For purposes of determining compliance with Section 7.02 hereof, in the event that any Non-Recourse Debt of any Unrestricted Subsidiary ceases to be Non-Recourse Debt of such Unrestricted Subsidiary, such event will be deemed to constitute an incurrence of
Indebtedness by a Restricted Subsidiary. 
 “Note” means a promissory note (as amended, restated, amended and restated, or
otherwise modified from time to time) made by the Borrowers in favor of a Lender evidencing Loans or Swing Line Loans, as the case may be, made by such Lender or the Swing Line Lender, as the case may be, substantially in the form of
Exhibit C. 
 “NPL” means the National Priorities List under CERCLA. 

“NYFRB” means the Federal Reserve Bank of New York. 

“NYFRB’s Website” means the website of the NYFRB at http://www.newyorkfed.org, or any successor source. 

“Obligations” means all advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party arising
under any Loan Document or otherwise with respect to any Loan, Letter of Credit, Secured Cash Management Agreement or Secured Hedge Agreement, in each case whether direct or indirect (including those acquired by assumption), absolute or contingent,
due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party or any Affiliate thereof of any proceeding, case or other action under any Debtor Relief Laws
naming such Person as the debtor in such proceeding, case or other action regardless of whether such interest and fees are allowed claims in such proceeding, case or other action; provided that the Obligations shall exclude any Excluded Swap
Obligations. 

  
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 “OFAC” means the Office of Foreign Assets Control of the United States
Department of the Treasury. 
 “Offer to Purchase” means the Offer to Purchase and Agreement of Purchase and Sale, dated as
of October 15, 2014, by USD Terminals Canada II ULC in favor of the Canadian Borrower. 
 “Organization Documents”
means, (a) with respect to any corporation, the certificate or articles of incorporation or articles of association and the bylaws (or equivalent or comparable constitutive documents with respect to any
non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and operating agreement; and (c) with respect to any partnership, joint
venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or
organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation or organization of such entity. 

“Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection
between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a
security interest under, engaged in any other transaction pursuant to or enforced any Loan Document). 
 “Other Taxes”
means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection
of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to
Section 3.06). 
 “Outstanding Amount” means (a) with respect to Loans and Swing Line Loans
on any date, the amount of the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of the Loans and Swing Line Loans, as the case may be, occurring on such date; and (b) with
respect to any L/C Obligations on any date, the amount of the aggregate outstanding amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of
the L/C Obligations as of such date, including as a result of any reimbursements by the Borrowers of Unreimbursed Amounts. 

“Overnight Rate” means, for any day, the greater of (i) the Federal Funds Rate and (ii) an overnight rate
determined by the Administrative Agent, the applicable L/C Issuer, or the Swing Line Lender, as the case may be, in accordance with banking industry rules on interbank compensation. 

  
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 “Parent” means USD Group LLC, a Delaware limited liability Company. 

“Participant” has the meaning specified in Section 11.06(d). 

“Participant Register” has the meaning specified in Section 11.06(f). 

“PBGC” means the Pension Benefit Guaranty Corporation. 

“Pension Act” means the Pension Protection Act of 2006. 

“Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required contributions (including any
installment payment thereof) to Pension Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act
and, thereafter, Section 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA. 
 “Pension
Plan” means any employee pension benefit plan (including a Multiple Employer Plan but not a Multiemployer Plan) that is sponsored, maintained, or contributed to by a Loan Party or any ERISA Affiliate, or with respect to which a Loan Party
or any ERISA Affiliate may have liability; and that is either covered by Title IV of ERISA or subject to the minimum funding standards under Sections 412 and 430 of the Code or Section 302 of ERISA. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Plan” means any employee benefit plan within the meaning of
Section 3(3) of ERISA (including a Pension Plan), maintained for employees of the US Borrower or any ERISA Affiliate or any such Plan to which the US Borrower or any ERISA Affiliate is required to contribute on behalf of any of its employees.

 “Personal Property Security Act” means the Personal Property Security Act (Alberta) and all other applicable
personal property security acts or legislation now or hereafter enacted in any other applicable jurisdiction in Canada or in any province thereof in which the Collateral may be located. 

“Platform” has the meaning specified in Section 6.02. 

“Pledged Equity” has the meaning specified in Section 1.3 of the Security Agreement. 

“PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be
amended from time to time. 
 “Public Lender” has the meaning specified in Section 6.02. 

“Qualified Notes” means, at any time of measurement, unsecured Indebtedness of the US Borrower (i) that satisfies the
requirements of Section 7.02(h) and (ii) in an aggregate principal amount then outstanding of at least $150,000,000. 

  
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 “Qualified Notes Offering” means the issuance of any Qualified Notes. 

“Recipient” means the Administrative Agent, any Lender, and L/C Issuer, as applicable. 

“Refined Products” means gasoline, diesel fuel, jet fuel, liquid petroleum gases, ethanol and ethanol products, asphalt and
asphalt products, and other refined petroleum products. 
 “Register” has the meaning specified in
Section 11.06 (c). 
 “Registration Statement” means that certain Form S-1 Registration Statement dated August 29, 2014, filed with the United States Securities and Exchange Commission with respect to the Common Units, as amended from time to time prior to October 15, 2014.

 “Registration Tax Exception” means any fixed or ad valorem registration tax deduction required in case the Credit
Agreement is voluntarily registered and/or physically attached (annexé(s)) to a public deed or to any other document subject to mandatory registration. 

“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers,
employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s Affiliates. 

“Release” means any release, spill, emission, discharge, deposit, disposal, leaking, pumping, pouring, dumping, emptying,
injection or leaching into the environment, or into, from or through any building, structure or facility. 
 “Relevant Governmental
Body” means the Board of Governors of the Federal Reserve System or the NYFRB, or a committee officially endorsed or convened by the Board of Governors of the Federal Reserve System or the NYFRB, or any successor thereto. 

“RELIBI Law” means any Tax deduction required under the Luxembourg Law of 23 December 2005, as amended from time to
time, introducing in Luxembourg a 20% withholding tax applicable to certain interest payments to Luxembourg resident individual or certain types of unincorporated entities (or any amendments thereof). 

“Remaining Lender” has the meaning specified in Section 2.17(e). 

“Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day
notice period has been waived. 
 “Request for Credit Extension” means (a) with respect to a Borrowing, conversion or
continuation of Loans, a Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice. 

  
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 “Required Lenders” means, at any time, Lenders holding more than 50% of the
sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Lender for purposes of
this definition) and (b) aggregate unused Commitments; provided that the amount of any participation in any Swing Line Loan and Unreimbursed Amounts that any Defaulting Lender has failed to fund that have not been reallocated to and
funded by another Lender shall be deemed to be held by the Lender that is the Swing Line Lender or L/C Issuer, as the case may be, in making such determination. 

“Rescindable Amount” has the meaning specified in Section 2.12(a)(ii). 

“Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution
Authority. 
 “Responsible Officer” means the chief executive officer, president, chief financial officer, treasurer, chief
accounting officer, chief operating officer, chief strategy officer, senior vice president, vice president, general counsel, assistant treasurer, controller, Class A Manager or Class B Manager (or a similar officer to any of the foregoing)
of a Loan Party or the general partner acting on behalf of a Loan Party, and solely for purposes of the delivery of incumbency certificates pursuant to Section 4.01(a), the secretary, any assistant secretary or any
authorized signatory of a Loan Party or of the general partner acting on behalf of a Loan Party and, solely for purposes of notices given pursuant to Article II, any other officer or employee of the applicable Loan Party or
of the general partner acting on behalf of such Loan Party so designated by any of the foregoing officers in a notice to the Administrative Agent. Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party or of the
general partner acting on behalf of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively
presumed to have acted on behalf of such Loan Party. 
 “Restricted Payment” means any dividend or other distribution
(whether in cash, securities or other property) with respect to any capital stock or other Equity Interest of any Person, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of
the purchase, redemption, retirement, defeasance, acquisition, cancellation or termination of any such capital stock or other Equity Interest, or on account of any return of capital to any Person’s stockholders, partners or members (or the
equivalent of any thereof). 
 “Restricted Subsidiary” means any Subsidiary of the US Borrower that has not been designated
as an Unrestricted Subsidiary in accordance with the definition thereof; provided that the US Borrower shall not at any time be entitled to designate the Canadian Borrower as an Unrestricted Subsidiary, and such Subsidiary shall at all times
be a Restricted Subsidiary. 
 “Revolving Credit Exposure” means, as to any Lender at any time, the aggregate principal
amount at such time of its outstanding Loans and such Lender’s participation in L/C Obligations and Swing Line Loans at such time. 

“Revolving Credit Increase Effective Date” has the meaning specified in Section 2.16(d). 

“S&P” means S&P Global Ratings, a division of S&P Global Inc., and any successor thereto. 

“Same Day Funds” means immediately available funds. 

  
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 “Sanction(s)” means any sanction imposed, administered or enforced by the
Canadian government (including the Department of Foreign Affairs and International Trade Canada and the Department of Public Safety Canada), the United States government (including OFAC), the United Nations, the European Union, Her Majesty’s
Treasury, or other relevant sanctions authority. 
 “Sanctioned Country” means any country or territory to the extent that
such country or territory, or its government, is the subject of any country- or territory-wide Sanction. 
 “Sanctioned
Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by OFAC or the U.S. Department of State or any other relevant Sanctions authority, (b) any Person located, organized
or resident in a Sanctioned Country, or (c) any Person 50% or more owned or otherwise controlled by any such Person or Persons described in the foregoing clauses (a) or (b). 

“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal
functions. 
 “Secured Cash Management Agreement” means any Cash Management Agreement that is entered into by and between
any Loan Party and any Cash Management Bank. 
 “Secured Hedge Agreement” means any Swap Contract permitted under
Article VII that is entered into by and between any Loan Party and any Hedge Bank. 
 “Secured Parties” means,
collectively, the Administrative Agent, the Lenders, the Swing Line Lenders, the L/C Issuers, the Hedge Banks, the Cash Management Banks, each co-agent or sub-agent
appointed by the Administrative Agent from time to time pursuant to Section 10.05, and the other Persons the Obligations owing to which are or are purported to be secured by the Collateral under the terms of the Collateral
Documents. 
 “Security Agreement” means the Amended and Restated Security Agreement between the Guarantors and the
Administrative Agent in substantially the form of the attached Exhibit G or such other form as may be requested by the Administrative Agent (acting reasonably), together with each other security agreement and Security
Agreement Supplement delivered pursuant to Section 6.11, as amended, amended and restated, supplemented or otherwise modified from time to time. 

“Security Agreement Supplement” has the meaning specified in Section 1.3 of the Security Agreement.  

“SOFR” means a rate per annum equal to the secured overnight financing rate for such Business Day published by the NYFRB (or
a successor administrator of the secured overnight financing rate) on the NYFRB’s Website, currently at http://www.newyorkfed.org, or any successor source for the secured overnight financing rate identified as such by the administrator of the
secured overnight financing rate from time to time). 

  
 -39- 

 “Solvent” and “Solvency” mean, with respect to any Person
on any date of determination, that on such date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair salable value of the
assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur
debts or liabilities beyond such Person’s ability to pay such debts and liabilities as they mature, (d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such
Person’s property would constitute an unreasonably small capital, and (e) such Person is able to pay its debts and liabilities, contingent obligations and other commitments as they mature in the ordinary course of business. The amount of
contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

“SPE Transaction” means any transaction existing on the Closing Date and future transactions consistent with, and not
materially less advantageous to the Loan Parties or the Lenders than, those existing on the Closing Date pursuant to purchase, assignment and assumption and other related agreements whereby USD Rail LLC or USD Rail Canada ULC agrees to both
(i) sell and assign its rights, title and interest in and to customer contract payments under certain fleet service agreements for certain railcars, and (ii) assign its respective payment obligations under the related leases for such
railcars, in each case, to affiliated or other purchasers. 
 “Specified Acquisition” means any Acquisition (other than any
Acquisition of an Unrestricted Subsidiary) made by the US Borrower or any of the Restricted Subsidiaries in which the Acquisition Consideration therefor exceeds $25,000,000. 

“Specified Acquisition Period” means, upon the US Borrower’s election pursuant to
Section 6.02(j), (a) the fiscal quarter during which the US Borrower or any of the Restricted Subsidiaries consummates a Specified Acquisition and (b) the two fiscal quarters immediately following the fiscal quarter
described in clause (a); provided, however, that (i) no more than one Specified Acquisition Period may be in effect at any one time, (ii) no Specified Acquisition Period may become effective if the US Borrower fails to timely
elect such Specified Acquisition Period pursuant to the terms of Section 6.02(j) and (iii) no more than one Specified Acquisition Period may be elected with respect to any particular Specified Acquisition. 

“Specified Loan Party” means any Loan Party that is not an “eligible contract participant” under the Commodity
Exchange Act (determined prior to giving effect to Section 11.14). 
 “Sponsors” means
collectively or individually (a) US Development Group and its Controlled Investment Affiliates and (b) Energy Capital Partners and its Controlled Investment Affiliates. 

“Statutory Reserves” means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator
of which is the number one minus the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Relevant Governmental Body for eurocurrency funding (currently referred
to as “Eurocurrency Liabilities” in Regulation D). Eurocurrency Rate Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets
that may be available from time to time to the Administrative Agent, any Lender or any L/C Issuer under such Regulation D or any comparable regulation. Statutory Reserves shall be adjusted automatically on and as of the effective date of any change
in any reserve percentage. 

  
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 “Stroud Terminal” means the terminaling facilities owned and operated by
Stroud Crude Terminal LLC located in Lincoln County, Oklahoma. 
 “Subsidiary” of a Person means a corporation,
partnership, joint venture, limited liability company or other business entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than
securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both,
by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of a Borrower. 

“Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate
transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions,
interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar
transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any
kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master
Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement. 

“Swap Obligations” means with respect to any Guarantor any obligation to pay or perform under any agreement, contract or
transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act. 
 “Swap
Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap
Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations
provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 
 “Swing Line
Borrowing” means a borrowing of a Swing Line Loan pursuant to Section 2.04. 
 “Swing Line
Lender” means Bank of Montreal in its capacity as provider of Swing Line Loans, or any successor swing line lender hereunder. 

  
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 “Swing Line Loan” has the meaning specified in
Section 2.04(a). 
 “Swing Line Loan Notice” means a notice of a Swing Line Borrowing pursuant to
Section 2.04(b), which shall be substantially in the form of Exhibit B or such other form as approved by the Administrative Agent (including any form on an electronic platform or electronic
transmission system as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the applicable Borrower. 

“Swing Line Sublimit” means an amount equal to the lesser of (a) $20,000,000 and (b) the Aggregate Commitments. The
Swing Line Sublimit is part of, and not in addition to, the Aggregate Commitments. 
 “Synthetic Debt” means, with respect
to any Person as of any date of determination thereof, all obligations of such Person in respect of transactions entered into by such Person that are intended to function primarily as a borrowing of funds (including any minority interest
transactions that function primarily as a borrowing) but are not otherwise included in the definition of “Indebtedness” or as a liability on the consolidated balance sheet of such Person and its Subsidiaries in accordance with GAAP.

 “Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a
so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property (including sale and leaseback
transactions), in each case, creating obligations that do not appear on the balance sheet of such Person but which, upon the application of any Debtor Relief Laws to such Person, would be characterized as the indebtedness of such Person (without
regard to accounting treatment). 
 “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, for the applicable corresponding tenor, the forward-looking term rate based on SOFR that has been
selected or recommended by the Relevant Governmental Body. 
 “Term SOFR Event” means the determination by the
Administrative Agent that (a) Term SOFR has been recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the Administrative Agent and (c) the Eurocurrency Rate has
already been replaced with a Benchmark Replacement in accordance with Section 3.03(b)(i)(A) that is not Term SOFR. 

“Term SOFR Notice” means a notification by the Administrative Agent to the Lenders and the Borrowers of the occurrence of a
Term SOFR Event. 
 “Terminal Deeds” has the meaning specified in Section 5.08(b). 

“Terminals” means, collectively (a) the Hardisty Terminal; (b) the Stroud Terminal; (c) the Casper Terminal;
and (d) any other terminals, storage facilities, wharfage, tankage and loading racks owned or leased by any Loan Party that are used in the Business. 

  
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 “Terminating Lender” has the meaning specified in
Section 2.17(e). 
 “Threshold Amount” means $10,000,000. 

“Total Credit Exposure” means, at any time, the aggregate unused Commitments and the aggregate Revolving Credit Exposure at
such time. 
 “Total Revolving Credit Outstandings” means the aggregate Outstanding Amount of all Loans, Swing Line Loans
and L/C Obligations. 
 “Type” means, with respect to a Loan, its character as a Base Rate Loan or a Eurocurrency Rate
Loan. 
 “UCC” means the Uniform Commercial Code as in effect in the State of New York; provided that, if perfection
or the effect of perfection or non-perfection or the priority of any security interest in any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New
York, “UCC” means the Uniform Commercial Code as in effect from time to time in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or
non-perfection or priority. 
 “UK Financial Institution” means any BRRD
Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time)
promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms. 

“UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for
the resolution of any UK Financial Institution. 
 “Unaudited Quarterly Financial Statements” means the unaudited
consolidated balance sheet of the US Borrower and the Restricted Subsidiaries for the fiscal quarter ended June 30, 2018 and the related consolidated statements of income or operations, partners’ capital, retained earnings and cash flows
for the fiscal quarter ended on that date. 
 “United States” and “U.S.” mean the United States of
America. 
 “Unreimbursed Amount” has the meaning specified in Section 2.03(c)(i). 

“Unrestricted Cash” means unrestricted cash and Cash Equivalents of the Loan Parties that is subject to a perfected Lien in
favor of the Administrative Agent securing the Obligations, which cash and Cash Equivalents are subject to no Liens other than such Liens in favor of the Administrative Agent and ordinary course Liens in favor of a depositary or securities
intermediary where such cash or Cash Equivalents are held. 

  
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 “Unrestricted Subsidiary” means any Subsidiary of the US Borrower that is
designated by the US Borrower as an Unrestricted Subsidiary, but only to the extent that: (a) such Subsidiary has no Indebtedness other than (i) Non-Recourse Debt and (ii) Indebtedness
guaranteed by a Loan Party in accordance with Section 7.02 which would not cause violation of the financial covenants set forth in Section 7.11; (b) except as permitted by
Section 7.08, such Subsidiary is not party to any agreement, contract, arrangement or understanding with the US Borrower or any Restricted Subsidiary; (c) such Subsidiary is a Person with respect to which neither the
US Borrower nor any of the Restricted Subsidiaries has any direct or indirect obligation (i) to subscribe for additional Equity Interests or (ii) to maintain or preserve such Person’s financial condition or to cause such Person to
achieve any specified levels of operating results; (d) such Subsidiary is not a Guarantor and has not guaranteed or otherwise directly or indirectly provided credit support for any Indebtedness of the US Borrower or any of the Restricted
Subsidiaries; (e) such designation complies with Section 6.15 and (f) such Subsidiary has not been redesignated as a Restricted Subsidiary under Section 6.15. Any designation of a
Subsidiary of the US Borrower as an Unrestricted Subsidiary will be evidenced to the Administrative Agent by a certificate from a Responsible Officer of the US Borrower certifying that such designation complied with the preceding conditions. As of
the Closing Date there are no Unrestricted Subsidiaries. 
 “U.S. Bank” means U.S. Bank, National Association. 

“US Borrower” has the meaning specified in the introductory paragraph hereto. 

“US Borrower Partnership Agreement” means that certain Second Amended and Restated Agreement of Limited Partnership of the US
Borrower (as amended, restated, or otherwise modified from time to time) dated as of October 15, 2014, by and among the General Partner, the Parent and the other limited partners party thereto. 

“US Development Group” means US Development Group LLC, a Delaware limited liability company. 

“U.S. Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of
the Code. 
 “U.S. Tax Compliance Certificate” has the meaning specified in Section 3.01(f)(ii).

 “Withholding Agent” means the Loan Parties and the Administrative Agent. 

“Write-Down and Conversion Powers” means, (a) with respect to any EEA Resolution Authority, the write-down and
conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel,
reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any
other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that
Bail-In Legislation that are related to or ancillary to any of those powers. 

  
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 Section 1.02. Other Interpretive Provisions. With reference to this
Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document: 
 (a) The
definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words
“include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and
effect as the word “shall.” Unless the context requires otherwise, (i) any definition of or reference to any agreement, instrument or other document (including any Organization Document) shall be construed as referring to such
agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or in any other Loan Document), (ii) any
reference herein to any Person shall be construed to include such Person’s successors and assigns, (iii) the words “hereto,” “herein,” “hereof” and “hereunder,” and words of
similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any particular provision thereof, (iv) all references in a Loan Document to Articles, Sections, Preliminary Statements,
Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Preliminary Statements, Exhibits and Schedules to, the Loan Document in which such references appear, (v) any reference to any Law shall include all statutory
and regulatory provisions consolidating, amending, replacing or interpreting such Law and any reference to any Law shall, unless otherwise specified, refer to such Law as amended, modified or supplemented from time to time, and (vi) the words
“asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 

(b) In the computation of periods of time from a specified date to a later specified date, the word “from”
means “from and including; “ the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and including.” 

(c) Section headings herein and in the other Loan Documents are included for convenience of reference only and shall not affect
the interpretation of this Agreement or any other Loan Document. 
 (d) For all purposes under the Loan Documents, in
connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s law): (i) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or
liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (ii) if any new Person comes into existence, such new Person shall be deemed to have been organized on the
first date of its existence by the holders of its Equity Interests at such time. 

  
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 Section 1.03. Accounting Terms. 

(a) Generally. All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all
financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a
manner consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein. Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the
computation of any financial covenant) contained herein, Indebtedness of the US Borrower and its Restricted Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 and FASB ASC 470-20 on financial liabilities shall be disregarded. 
 (b) Changes in GAAP. If at any time any
change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the US Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and US Borrower shall
negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or
requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the US Borrower shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this
Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP. Without limiting the foregoing, leases shall continue to be
classified and accounted for on a basis consistent with GAAP as in effect on the Closing Date for all purposes of this Agreement, notwithstanding any change in GAAP relating thereto, unless the US Borrower, the Administrative Agent and the Required
Lenders shall enter into a mutually acceptable amendment addressing such changes, as provided for above. 
 (c) SPE Transactions. For
the avoidance of doubt, any financial covenant calculations shall exclude any amounts arising from the SPE Transactions. 

Section 1.04. Rounding. Any financial ratios required to be maintained by the US Borrower pursuant to this Agreement shall
be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number). 
 Section 1.05. Times of Day. Unless
otherwise specified, all references herein to times of day shall be references to Central time (daylight or standard, as applicable). 

Section 1.06. Letter of Credit Amounts. Unless otherwise specified herein, the amount of a Letter of Credit at any time
shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for
one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated
amount is in effect at such time. 

  
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 Section 1.07. Divisions. For all purposes under the Loan Documents, in
connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or
liability of a different Person, then it shall be deemed to have transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first
date of its existence by the holders of its Equity Interests at such time 
 ARTICLE II. 

THE COMMITMENTS AND CREDIT EXTENSIONS 

Section 2.01. Loans. Subject to the terms and conditions set forth herein, each Lender severally agrees to make Loans to
the Borrowers in Dollars from time to time on any Business Day during the period from the Closing Date until such Lender’s Maturity Date, in an aggregate amount not to exceed at any time outstanding the amount of such Lender’s Commitment;
provided, however, that after giving effect to any Borrowing, (i) the Total Revolving Credit Outstandings shall not exceed the Aggregate Commitments and (ii) the Revolving Credit Exposure of any Lender shall not exceed such
Lender’s Commitment. Within the limits of each Lender’s Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01, prepay under
Section 2.05, and reborrow under this Section 2.01. Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein. 

Section 2.02. Borrowings, Conversions and Continuations of Loans. 

(a) Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Eurocurrency Rate Loans shall be made upon
the applicable Borrower’s irrevocable notice to the Administrative Agent, which may be given by (A) telephone or (B) a Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to the
Administrative Agent of a Loan Notice. Each Loan Notice must be received by the Administrative Agent not later than 11:00 a.m. (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of
Eurocurrency Rate Loans or of any conversion of Eurocurrency Rate Loans to Base Rate Loans and (ii) on the requested date of any Borrowing of Base Rate Loans; provided, however, that if a Borrower wishes to request Eurocurrency Rate
Loans having an Interest Period of twelve months in duration as provided in the definition of “Interest Period,” the Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest
Period is acceptable to all of them and not later than 11:00 a.m., three Business Days before the requested date of such Borrowing, conversion or continuation of Eurocurrency Rate Loans, the Administrative Agent shall notify the applicable Borrower
(which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the Lenders. Each Borrowing of, conversion to or continuation of Eurocurrency Rate Loans shall be in a principal amount of $1,000,000 or a
whole multiple of $1,000,000 in excess thereof. Except as provided in Sections 2.03(c) and 2.04(b), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple
of $1,000,000 in excess thereof. Each Loan Notice shall specify (i) whether the applicable Borrower is the US Borrower or the Canadian Borrower, (ii) whether the applicable Borrower is requesting a Borrowing, a conversion of Loans from one
Type to the other, or a continuation of Eurocurrency Rate Loans, as the case may be, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Loans
to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which Loans are to be converted, and (v) 

  
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if applicable, the duration of the Interest Period with respect thereto. If an Event of Default has occurred or is continuing, a Borrower fails to specify a Type of Loan in a Loan Notice or if a
Borrower fails to give a timely notice requesting a conversion or continuation, then the Loans so requested shall be made as (in the case of a failure to specify a Type of Loan in a Loan Notice), or converted to Base Rate Loans. Any such automatic
conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans. If a Borrower requests a Borrowing of, conversion to, or continuation of Eurocurrency
Rate Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. Notwithstanding anything to the contrary contained herein, a Swing Line Loan may not be converted to a
Eurocurrency Rate Loan. 
 (b) Following receipt of a Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount
of its Applicable Percentage under the Facility of the Loans, and if no timely notice of a conversion or continuation is provided by the applicable Borrower, the Administrative Agent shall notify each Lender of the details of any automatic
conversion to Base Rate Loans as described in Section 2.02(a). In the case of a Borrowing, each Lender shall make the amount of its Loan available to the Administrative Agent in Same Day Funds at the Administrative
Agent’s Office not later than 1:00 p.m. on the Business Day specified in the applicable Loan Notice. Upon satisfaction of the applicable conditions set forth in Section 4.02 (and, if such Borrowing is the initial
Credit Extension on the Closing Date, Section 4.01), the Administrative Agent shall make all funds so received available to the applicable Borrower in like funds as received by the Administrative Agent either, at the
applicable Borrower’s election, by (i) crediting the account of such Borrower on the books of BMO with the amount of such 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 applicable Borrower; provided, however, that if, on the date the Loan Notice with respect to a Borrowing is given by the applicable Borrower, there are L/C Borrowings outstanding, then
the proceeds of such Borrowing, first, shall be applied to the payment in full of any such L/C Borrowings, and, second, shall be made available to the applicable Borrower as provided above. 

(c) Except as otherwise provided herein, a Eurocurrency Rate Loan may be continued or converted only on the last day of an Interest Period for
such Eurocurrency Rate Loan. During the existence of a Default, (i) no Loans may be requested as, converted to or continued as Eurocurrency Rate Loans without the consent of the Required Lenders and (ii) the Required Lenders may demand
that any or all of the then outstanding Eurocurrency Rate Loans under the Facility be prepaid on the last day of the then current Interest Period with respect thereto. 

(d) The Administrative Agent shall promptly notify the applicable Borrower and the Lenders of the interest rate applicable to any Interest
Period for Eurocurrency Rate Loans upon determination of such interest rate. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify each Borrower and the Lenders of any change in BMO’s prime rate or reference
rate, as the case may be, used in determining the Base Rate promptly following the public announcement of such change; provided, that any failure to provide such notice shall not affect the validity of such change. 

  
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 (e) After giving effect to all Borrowings, all conversions of Loans from one Type to the
other, and all continuations of Loans as the same Type, there shall not be more than five Interest Periods in effect in respect of the Aggregate Commitments. 

Section 2.03. Letters of Credit. 

(a) The Letter of Credit Commitment. 

(i) Subject to the terms and conditions set forth herein, (A) each L/C Issuer severally agrees, in reliance upon the
agreements of the Lenders set forth in this Section 2.03, (1) from time to time on any Business Day during the period from the Closing Date until the Letter of Credit Expiration Date, to issue Letters of Credit denominated
in Dollars for the account of a Borrower or any Restricted Subsidiary, and to amend or extend Letters of Credit previously issued by it, in accordance with Section 2.03(b), and (2) to honor drawings under the Letters
of Credit issued by it; and (B) the Lenders severally agree to participate in Letters of Credit issued for the account of a Borrower or any Restricted Subsidiary and any drawings thereunder; provided that after giving effect to any L/C
Credit Extension with respect to any Letter of Credit, (x) the Total Revolving Credit Outstandings shall not exceed the Aggregate Commitments, (y) the Revolving Credit Exposure of any Lender shall not exceed such Lender’s Commitment,
and (z) the Outstanding Amount of the L/C Obligations shall not exceed the Letter of Credit Sublimit. Each request by a Borrower for the issuance, increase, extension, or amendment of a Letter of Credit shall be deemed to be a representation by
such Borrower that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, each Borrower’s ability to
obtain Letters of Credit shall be fully revolving, and accordingly each Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. 

(ii) No L/C Issuer shall issue, increase, or extend any Letter of Credit if: 

(A) subject to Section 2.03(b)(iii), the expiry date of such requested Letter of Credit would occur
more than twelve months after the date of issuance or last extension, unless the applicable L/C Issuer and the Required Lenders have approved such expiry date; or 

(B) the expiry date of the requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless all the
Lenders and the applicable L/C Issuer have approved such expiry date. 
 (iii) No L/C Issuer shall be under any obligation to
issue, increase, or extend any Letter of Credit if: 
 (A) any order, judgment or decree of any Governmental Authority or
arbitrator shall by its terms purport to enjoin or restrain such L/C Issuer from issuing, increasing, or extending the Letter of Credit, or any Law applicable to such L/C Issuer or any request or directive (whether or not having the force of law)
from any Governmental Authority with jurisdiction over such L/C Issuer shall prohibit, 

  
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or request that such L/C Issuer refrain from, the issuance, increase, or extension of letters of credit generally or the Letter of Credit in particular or shall impose upon such L/C Issuer with
respect to the Letter of Credit any restriction, reserve or capital requirement (for which such L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon such L/C Issuer any unreimbursed loss, cost or
expense which was not applicable on the Closing Date and which such L/C Issuer in good faith deems material to it; 
 (B)
the issuance, increase, or extension of the Letter of Credit would violate one or more policies of such L/C Issuer applicable to letters of credit generally; 

(C) except as otherwise agreed by the Administrative Agent and such L/C Issuer, the Letter of Credit is in an initial stated
amount less than $100,000; 
 (D) the Letter of Credit is to be denominated in a currency other than Dollars; 

(E) any Lender is at that time a Defaulting Lender or a Terminating Lender, as applicable, unless such L/C Issuer has entered
into arrangements, including the delivery of Cash Collateral, satisfactory to such L/C Issuer (in its sole discretion) with the Borrowers or such Defaulting Lender or Terminating Lender, as applicable, to eliminate such L/C Issuer’s actual or
potential Fronting Exposure (after giving effect to Section 2.15(a)(iv) and, in respect of a Terminating Lender, any reallocation pursuant to Section 2.17 in respect thereof) with respect to the
Defaulting Lender or a Terminating Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as to which such L/C Issuer has actual or potential Fronting Exposure, as it may
elect in its sole discretion; 
 (F) the Letter of Credit contains any provisions for automatic reinstatement of the stated
amount after any drawing thereunder; 
 (G) the issuance, increase, or extension of the Letter of Credit would cause the
Outstanding Amount of all L/C Obligations relating to Letters of Credit issued by such L/C Issuer to exceed such L/C Issuer’s L/C Issuer Sublimit; or 

(H) the expiry date of the requested Letter of Credit would occur after such L/C Issuer’s Maturity Date, unless the L/C
Issuer thereof has approved of such expiration date and the L/C Obligations in respect of such requested Letter of Credit have been Cash Collateralized or back-stopped in an amount and pursuant to arrangements reasonably satisfactory to such L/C
Issuer (for the avoidance of doubt, such Letter of Credit shall cease to be a Letter of Credit under this Agreement upon such L/C Issuer’s Maturity Date). 

(iv) No L/C Issuer shall amend any Letter of Credit if such L/C Issuer would not be permitted at such time to issue the Letter
of Credit in its amended form under the terms hereof. 

  
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 (v) No L/C Issuer shall be under any obligation to amend any Letter of
Credit if such L/C Issuer would have no obligation at such time to issue the Letter of Credit in its amended form under the terms hereof. 

(vi) Each L/C Issuer shall act on behalf of the Lenders with respect to any Letters of Credit issued by it and the documents
associated therewith, and each L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article X with respect to any acts taken or omissions suffered by such L/C Issuer in
connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article X included
such L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to the L/C Issuers. 

(b) Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit. 

(i) Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the applicable Borrower delivered
to the applicable L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of such Borrower. Such Letter of Credit Application may be sent by
facsimile, by overnight courier, by electronic transmission using the system provided by the applicable L/C Issuer, by personal delivery or by any other means acceptable to the applicable L/C Issuer. Such Letter of Credit Application must be
received by the applicable L/C Issuer and the Administrative Agent not later than 11:00 a.m. at least two Business Days (or such later date and time as the Administrative Agent and the applicable L/C Issuer may agree in a particular instance in
their sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail
satisfactory to the applicable L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount and currency thereof; (C) the expiry date thereof; (D) the name and address of
the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (G) the
purpose and nature of the requested Letter of Credit; and (H) such other matters as such L/C Issuer may require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in
form and detail satisfactory to the applicable L/C Issuer (1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall be a Business Day); (3) the nature of the proposed amendment; and (4) such other
matters as such L/C Issuer may require. Additionally, the applicable Borrower shall furnish to the applicable L/C Issuer and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or
amendment, including any Issuer Documents, as such L/C Issuer or the Administrative Agent may require. 

  
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 (ii) Promptly after receipt of any Letter of Credit Application, the
applicable L/C Issuer will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the applicable Borrower and, if not, such L/C Issuer will
provide the Administrative Agent with a copy thereof. Unless the applicable L/C Issuer has received written notice from any Lender, the Administrative Agent or any Loan Party, at least one Business Day prior to the requested date of issuance or
amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Article IV shall not then be satisfied, then, subject to the terms and conditions hereof, such L/C Issuer shall, on the
requested date, issue a Letter of Credit for the account of the applicable Borrower (or the applicable Restricted Subsidiary) or enter into the applicable amendment, as the case may be, in each case in accordance with such L/C Issuer’s usual
and customary business practices. Immediately upon the issuance of each Letter of Credit, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the applicable L/C Issuer a risk participation in such
Letter of Credit in an amount equal to the product of such Lender’s Applicable Percentage times the amount of such Letter of Credit. 

(iii) If a Borrower so requests in any applicable Letter of Credit Application, the applicable L/C Issuer may, in its sole and
absolute discretion, agree to issue a Letter of Credit that has automatic annual extension provisions for one-year periods (each, an “Auto-Extension Letter of Credit”); provided that
any such Auto-Extension Letter of Credit must permit such L/C Issuer to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary
thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the
applicable L/C Issuer, the applicable Borrower shall not be required to make a specific request to such L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but
may not require) the applicable L/C Issuer to permit the annual extension of such Letter of Credit by a period of one year at any time to an expiry date not later than the Letter of Credit Expiration Date; provided, however, that such
L/C Issuer shall not permit any such extension if (A) such L/C Issuer has determined that it would not be permitted, or would have no obligation at such time to issue such Letter of Credit in its revised form (as extended) under the terms
hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is seven Business
Days before the Non-Extension Notice Date (1) from the Administrative Agent that the Required Lenders have elected not to permit such extension or (2) from the Administrative Agent, any Lender or a
Borrower that one or more of the applicable conditions specified in Section 4.02 is not then satisfied, and in each such case directing such L/C Issuer not to permit such extension. 

(iv) Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with
respect thereto or to the beneficiary thereof, the applicable L/C Issuer will also deliver to the applicable Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment. 

  
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 (c) Drawings and Reimbursements; Funding of Participations. 

(i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the
applicable L/C Issuer shall notify the applicable Borrower and the Administrative Agent thereof. Not later than 11:00 a.m. on the Business Day after the date of any payment by an L/C Issuer under a Letter of Credit (or 11:00 a.m. on the next
succeeding Business Day if notice of such drawing is received after 10:00 a.m. on the date of payment) (each such date, an “Honor Date”), the applicable Borrower shall reimburse such L/C Issuer through the Administrative Agent in an
amount equal to the amount of such drawing. If the applicable Borrower fails to timely reimburse the applicable L/C Issuer on the Honor Date, the Administrative Agent shall promptly notify each Lender of the Honor Date, the amount of the
unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Lender’s Applicable Percentage thereof. In such event, the applicable Borrower shall be deemed to have requested a Borrowing of Base Rate Loans, to be
disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the
unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.02 (other than the delivery of a Loan Notice). Any notice given by an L/C Issuer or the Administrative Agent pursuant to this
Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice. 

(ii) Each Lender shall upon any notice pursuant to Section 2.03(c)(i) make funds available (and the
Administrative Agent may apply Cash Collateral provided for this purpose) for the account of the applicable L/C Issuer at the Administrative Agent’s Office in an amount equal to its Applicable Percentage of the Unreimbursed Amount not later
than 1:00 p.m. on the Business Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii), each Lender that so makes funds available shall be deemed to have made a
Base Rate Loan to the applicable Borrower in such amount. The Administrative Agent shall remit the funds so received to the applicable L/C Issuer in Dollars. 

(iii) With respect to any Unreimbursed Amount that is not fully refinanced by a Borrowing of Base Rate Loans because the
conditions set forth in Section 4.02 cannot be satisfied or for any other reason, the applicable Borrower shall be deemed to have incurred from the applicable L/C Issuer an L/C Borrowing in the amount of the Unreimbursed
Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each Lender’s payment to the Administrative Agent for the account of
such L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its participation
obligation under this Section 2.03. 
 (iv) Until each Lender funds its Loan or L/C Advance
pursuant to this Section 2.03(c) to reimburse the applicable L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Applicable Percentage of such amount shall be solely for the
account of such L/C Issuer. 

  
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 (v) Each Lender’s obligation to make Loans or L/C Advances to reimburse
the respective L/C Issuers for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(c), shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any
setoff, counterclaim, recoupment, defense or other right which such Lender may have against any L/C Issuer, a Borrower, any Subsidiary or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default, or
(C) any other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Lender’s obligation to make Loans pursuant to this Section 2.03(c) is
subject to the conditions set forth in Section 4.02 (other than delivery by the applicable Borrower of a Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair the obligation of the applicable
Borrower to reimburse the applicable L/C Issuer for the amount of any payment made by such L/C Issuer under any Letter of Credit issued by it, together with interest as provided herein. 

(vi) If any Lender fails to make available to the Administrative Agent for the account of the applicable L/C Issuer any amount
required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(ii), then, without limiting the other provisions of this
Agreement, such L/C Issuer shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment
is immediately available to such L/C Issuer at a rate per annum equal to the applicable Overnight Rate from time to time in effect, plus any administrative, processing or similar fees customarily charged by such L/C Issuer in connection with the
foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Loan included in the relevant Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the case may
be. A certificate of the applicable L/C Issuer submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this Section 2.03(c)(vi) shall be conclusive absent manifest error. 

(d) Repayment of Participations. 

(i) At any time after the applicable L/C Issuer has made a payment under any Letter of Credit and has received from any Lender
such Lender’s L/C Advance in respect of such payment in accordance with Section 2.03(c), if the Administrative Agent receives for the account of such L/C Issuer any payment in respect of the related Unreimbursed Amount
or interest thereon (whether directly from the applicable Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent will distribute to such Lender its Applicable Percentage
thereof in Dollars and in the same funds as those received by the Administrative Agent. 
 (ii) If any payment received by
the Administrative Agent for the account of an L/C Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the circumstances described in Section 11.05 (including pursuant to
any settlement entered into by the applicable L/C Issuer in its discretion), each Lender shall pay to the Administrative Agent for the account of the applicable L/C Issuer its Applicable Percentage thereof on demand of the Administrative Agent, plus
interest thereon from the date of such demand to the date such amount is returned by such Lender, at a rate per annum equal to the applicable Overnight Rate from time to time in effect. The obligations of the Lenders under this clause shall survive
the payment in full of the Obligations and the termination of this Agreement. 

  
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 (e) Obligations Absolute. The obligation of each Borrower to reimburse the applicable
L/C Issuer for each drawing under each Letter of Credit issued by it and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances,
including the following: 
 (i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other
Loan Document; 
 (ii) the existence of any claim, counterclaim, setoff, defense or other right that either Borrower or any
Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), such L/C Issuer or any other Person, whether in connection with
this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 

(iii) any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged, fraudulent,
invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such Letter of Credit; 

(iv) any waiver by such L/C Issuer of any requirement that exists for such L/C Issuer’s protection and not the protection
of either Borrower or any waiver by such L/C Issuer which does not in fact materially prejudice either Borrower; 
 (v) any
honor of a demand for payment presented electronically even if such Letter of Credit requires that demand be in the form of a draft; 

(vi) any payment made by such L/C Issuer in respect of an otherwise complying item presented after the date specified as the
expiration date of, or the date by which documents must be received under, such Letter of Credit if presentation after such date is authorized by the UCC or the ISP, as applicable; 

(vii) any payment by such L/C Issuer under such Letter of Credit against presentation of a draft or certificate that does not
strictly comply with the terms of such Letter of Credit; or any payment made by such L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy,
debtor-in-possession, assignee for the benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such
Letter of Credit, including any arising in connection with any proceeding, case or other action under any Debtor Relief Law; 

(viii) [reserved]; or 

  
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 (ix) any other circumstance or happening whatsoever, whether or not similar
to any of the foregoing, including any other circumstance that might otherwise constitute a defense available to, or a discharge of, a Borrower or any of its Subsidiaries. 

Each Borrower shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of
noncompliance with such Borrower’s instructions or other irregularity, such Borrower will promptly notify the applicable L/C Issuer. Each Borrower shall be conclusively deemed to have waived any such claim against the applicable L/C Issuer and
its correspondents unless such notice is given as aforesaid. 
 (f) Role of L/C Issuer. Each Lender and each Borrower
agree that, in paying any drawing under a Letter of Credit, the applicable L/C Issuer shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by the Letter of Credit) or to
ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such document. None of any L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any
correspondent, participant or assignee of an L/C Issuer shall be liable to any Lender for (i) any action taken or omitted in connection herewith at the request or with the approval of all the Lenders or the Required Lenders, as applicable;
(ii) any action taken or omitted in the absence of gross negligence or willful misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Issuer
Document. Each Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that this assumption is not intended to, and shall not,
preclude the Borrower’s pursuing such rights and remedies as it may have against the beneficiary or transferee at law or under any other agreement. None of any L/C Issuer, the Administrative Agent, any of their respective Related Parties nor
any correspondent, participant or assignee of an L/C Issuer shall be liable or responsible for any of the matters described in clauses (i) through (viii) of Section 2.03(e); provided, however, that
anything in such clauses to the contrary notwithstanding, each Borrower may have a claim against the applicable L/C Issuer, and such L/C Issuer may be liable to such Borrower, to the extent, but only to the extent, of any direct, as opposed to
consequential or exemplary, damages suffered by such Borrower which such Borrower proves were caused by such L/C Issuer’s willful misconduct or gross negligence or such L/C Issuer’s willful failure to pay under any Letter of Credit issued
by it 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 furtherance and not in limitation of the foregoing, an L/C Issuer may accept
documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and the applicable L/C Issuer shall not be responsible for the validity or sufficiency of
any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason. Any L/C
Issuer may send a Letter of Credit or conduct any communication to or from the beneficiary via the Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) message or overnight courier, or any other commercially
reasonable means of communicating with a beneficiary. 

  
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 (g) Applicability of ISP. Unless otherwise expressly agreed by the
applicable L/C Issuer and the applicable Borrower when a Letter of Credit is issued, the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, no L/C Issuer shall be responsible to either Borrower for, and no L/C
Issuer’s rights and remedies against either Borrower shall be impaired by, any action or inaction of such L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or
this Agreement, including the Law or any order of a jurisdiction where such L/C Issuer or the beneficiary is located, the practice stated in the ISP, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking
Commission, the Bankers Association for Finance and Trade – International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or
practice. 
 (h) Letter of Credit Fees. The applicable Borrower shall pay to the Administrative Agent for the account
of each Lender, subject to Section 2.15, in accordance with its Applicable Percentage, in Dollars, a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit requested by it equal to the
Applicable Rate times the the daily amount available to be drawn under such Letter of Credit. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined
in accordance with Section 1.06. Letter of Credit Fees shall be (i) due and payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur
after the issuance of such Letter of Credit, on the expiration date of such Letter of Credit, and thereafter on demand and (ii) computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the
daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary
contained herein, upon the request of the Required Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate. 

(i) Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. On the date of issuance or extension, or
increase in the amount, of each Letter of Credit, the applicable Borrower shall pay directly to the applicable L/C Issuer for its own account, in Dollars, a fronting fee with respect to such Letter of Credit issued, extended, or increased by
such L/C Issuer in an amount equal to 0.250% of the face amount of (or of the increase in the face amount of) such Letter of Credit. For purposes of computing the face amount of any Letter of Credit, the face amount of such Letter of Credit shall be
determined in accordance with Section 1.06. In addition, the applicable Borrower shall pay directly to the applicable L/C Issuer for its own account, in Dollars, the customary issuance, presentation, amendment and other
processing fees, and other reasonable standard costs and charges, of such L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable on demand and are
nonrefundable. 
 (j) Conflict with Issuer Documents. In the event of any conflict between the terms hereof and the
terms of any Issuer Document, the terms hereof shall control. 
 (k) Letters of Credit Issued for Restricted
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 Restricted Subsidiary, the applicable Borrower shall be obligated to reimburse the applicable
L/C Issuer hereunder for any and all drawings under such Letter of Credit. Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of Restricted Subsidiaries inures to the benefit of such Borrower, and that such
Borrower’s business derives substantial benefits from the businesses of such Restricted Subsidiaries. 

  
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 Section 2.04. Swing Line Loans. 

(a) The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender, in reliance upon the agreements of the
other Lenders set forth in this Section 2.04, shall make loans in Dollars (each such loan, a “Swing Line Loan”) to the US Borrower from time to time on any Business Day during the period from the Closing
Date until the Swing Line Lender’s Maturity Date in an aggregate amount not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable
Percentage of the Outstanding Amount of Loans and L/C Obligations of the Lender acting as Swing Line Lender, may exceed the amount of such Lender’s Commitment; provided, however, that (x) after giving effect to any Swing Line
Loan, (i) the Total Revolving Credit Outstandings shall not exceed the Aggregate Commitments and (ii) the Revolving Credit Exposure of any Lender shall not exceed such Lender’s Commitment, (y) the US Borrower shall not use the
proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan, and (z) the Swing Line Lender shall not be under any obligation to make any Swing Line Loan if it shall determine (which determination shall be conclusive and binding
absent manifest error) that it has, or by such Credit Extension may have, Fronting Exposure. Within the foregoing limits, and subject to the other terms and conditions hereof, the US Borrower may borrow under this
Section 2.04, prepay under Section 2.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest only at a rate based on the Base Rate. Immediately
upon the making of a Swing Line Loan, each Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such
Lender’s Applicable Percentage times the amount of such Swing Line Loan. 
 (b) Borrowing Procedures. Each Swing Line
Borrowing shall be made upon the US Borrower’s irrevocable notice to the Swing Line Lender and the Administrative Agent, which may be given by (i) telephone or (ii) by a Swing Line Loan Notice; provided that any telephonic
notice must be confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a Swing Line Loan Notice. Each such Swing Line Loan Notice must be received by the Swing Line Lender and the Administrative Agent not later than
1:00 p.m. on the requested borrowing date, and shall specify (A) the amount to be borrowed, which shall be a minimum of $100,000, and (B) the requested borrowing date, which shall be a Business Day. Promptly after receipt by the Swing Line
Lender of any Swing Line Loan Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will
notify the Administrative Agent (by telephone or in writing) of the contents thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Lender) prior to 2:00
p.m. on the date of the proposed Swing Line Borrowing (i) directing the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the first proviso to the first sentence of
Section 2.04(a), or (ii) that one or more of the applicable conditions specified in Article IV is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender
will, not later than 3:00 p.m. on the borrowing date specified in such Swing Line Loan Notice, make the amount of its Swing Line Loan available to the US Borrower. 

  
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 (c) Refinancing of Swing Line Loans. 

(i) The Swing Line Lender at any time in its sole and absolute discretion may request, on behalf of the US Borrower (which
hereby irrevocably authorizes the Swing Line Lender to so request on its behalf), that each Lender make a Base Rate Loan in an amount equal to such Lender’s Applicable Percentage of the amount of Swing Line Loans then outstanding. Such request
shall be made in writing (which written request shall be deemed to be a Swing Line Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples
specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Aggregate Commitments and the conditions set forth in Section 4.02. The Swing Line Lender shall furnish the US
Borrower with a copy of the applicable Swing Line Loan Notice promptly after delivering such notice to the Administrative Agent. Each Lender shall make an amount equal to its Applicable Percentage of the amount specified in such Swing Line Loan
Notice available to the Administrative Agent in immediately available funds (and the Administrative Agent may apply Cash Collateral available with respect to the applicable Swing Line Loan) for the account of the Swing Line Lender at the
Administrative Agent’s Office for Dollar-denominated payments not later than 1:00 p.m. on the day specified in such Swing Line Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Lender that so makes funds
available shall be deemed to have made a Base Rate Loan to the US Borrower in such amount. The Administrative Agent shall remit the funds so received to the Swing Line Lender. 

(ii) If for any reason any Swing Line Loan cannot be refinanced by such a Borrowing in accordance with
Section 2.04(c)(i), the request for Base Rate Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request by the Swing Line Lender that each of the Lenders fund its risk participation in the
relevant Swing Line Loan and each Lender’s payment to the Administrative Agent for the account of the Swing Line Lender pursuant to Section 2.04(c)(i) shall be deemed payment in respect of such participation. 

(iii) If any Lender fails to make available to the Administrative Agent for the account of the Swing Line Lender any amount
required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section 2.04(c)(i), the Swing Line Lender shall be entitled to recover from
such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the Swing Line Lender at a rate
per annum equal to the applicable Overnight Rate from time to time in effect, plus any administrative, processing or similar fees customarily charged by the Swing Line Lender in connection with the foregoing. If such Lender pays such amount (with
interest and fees as aforesaid), the amount so paid shall constitute such Lender’s Loan included in the relevant Borrowing or funded participation in the relevant Swing Line Loan, as the case may be. A certificate of the Swing Line Lender
submitted to any Lender (through the Administrative Agent) with respect to any amounts owing under this clause (iii) shall be conclusive absent manifest error. 

  
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 (iv) Each Lender’s obligation to make Loans or to purchase and fund
risk participations in Swing Line Loans pursuant to this Section 2.04(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or
other right which such Lender may have against the Swing Line Lender, either Borrower or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or condition, whether
or not similar to any of the foregoing; provided, however, that each Lender’s obligation to make Loans pursuant to this Section 2.04(c) is subject to the conditions set forth in
Section 4.02. No such funding of risk participations shall relieve or otherwise impair the obligation of the US Borrower to repay Swing Line Loans, together with interest as provided herein. 

(d) Repayment of Participations. 

(i) At any time after any Lender has purchased and funded a risk participation in a Swing Line Loan, if the Swing Line Lender
receives any payment on account of such Swing Line Loan, the Swing Line Lender will distribute to such Lender its Applicable Percentage thereof in the same funds as those received by the Swing Line Lender. 

(ii) If any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line Loan is required to
be returned by the Swing Line Lender under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into by the Swing Line Lender in its discretion), each Lender shall pay to the
Swing Line Lender its Applicable Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the applicable Overnight Rate. The
Administrative Agent will make such demand upon the request of the Swing Line Lender. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 

(e) Interest for Account of Swing Line Lender. The Swing Line Lender shall be responsible for invoicing the US Borrower for interest on
the Swing Line Loans. Until each Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Lender’s Applicable Percentage of any Swing Line Loan, interest in respect of such
Applicable Percentage shall be solely for the account of the Swing Line Lender. 
 (f) Payments Directly to Swing Line Lender. The US
Borrower shall make all payments of principal and interest in respect of the Swing Line Loans directly to the Swing Line Lender. 

  
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 Section 2.05. Prepayments. 

(a) Optional. 

(i) Each Borrower may, upon notice from such Borrower to the Administrative Agent, at any time or from time to time voluntarily
prepay the Loans in whole or in part without premium or penalty; provided that (A) such notice must be in a form acceptable to the Administrative Agent and be received by the Administrative Agent not later than 11:00 a.m. (1) three
Business Days prior to any date of prepayment of Eurocurrency Rate Loans, and (2) on the date of prepayment of Base Rate Loans; (B) any prepayment of Eurocurrency Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple
of $1,000,000 in excess thereof; and (C) any prepayment of Base Rate Loans shall be in a principal amount of $1,000,000 or a whole multiple of $1,000,000 in excess thereof or, in each case, if less, the entire principal amount thereof then
outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if Eurocurrency Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly
notify each Lender of its receipt of each such notice, and of the amount of such Lender’s ratable portion of such prepayment (based on such Lender’s Applicable Percentage in respect of the Facility). If such notice is given by a Borrower,
such Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued interest on the amount
prepaid, together with any additional amounts required pursuant to Section 3.05. Each prepayment of the outstanding Loans pursuant to this Section 2.05(a)(i) shall be applied ratably to the
Facility, and subject to Section 2.15, each such prepayment shall be paid to the Lenders in accordance with their respective Applicable Percentages in respect of the Facility. 

(ii) Either Borrower may, upon notice to the Swing Line Lender (with a copy to the Administrative Agent), at any time or from
time to time, voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided that (A) such notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the date
of the prepayment, and (B) any such prepayment shall be in a minimum principal amount of $100,000. Each such notice shall specify the date and amount of such prepayment. If such notice is given by a Borrower, such Borrower shall make such
prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. 
 (b) Mandatory.
If for any reason the Total Revolving Credit Outstandings exceed the Aggregate Commitments at such time, the Borrowers shall immediately prepay Loans, Swing Line Loans and L/C Borrowings and/or Cash Collateralize the L/C Obligations (other than the
L/C Borrowings) in an aggregate amount equal to such excess. 
 Section 2.06. Termination or Reduction of Commitments.

 (a) Optional. The Borrowers may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, the Letter of Credit
Sublimit or the Swing Line Sublimit, or from time to time permanently reduce the Aggregate Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit; provided that (i) any such notice shall be received by the Administrative
Agent not later than 11:00 a.m. three Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in an aggregate amount of 

  
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$5,000,000 or any whole multiple of $1,000,000 in excess thereof and (iii) the Borrowers shall not terminate or reduce (A) the Aggregate Commitments if, after giving effect thereto and
to any concurrent prepayments hereunder, the Total Revolving Credit Outstandings would exceed the Aggregate Commitments, (B) the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding Amount of L/C Obligations not fully Cash
Collateralized hereunder would exceed the Letter of Credit Sublimit, or (C) the Swing Line Sublimit if, after giving effect thereto and to any concurrent prepayments hereunder, the Outstanding Amount of Swing Line Loans would exceed the Swing
Line Sublimit. 
 (b) Mandatory. If after giving effect to any reduction or termination of the Aggregate Commitments under this
Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the Aggregate Commitments at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall be automatically
reduced by the amount of such excess. 
 (c) Application of Commitment Reductions; Payment of Fees. The Administrative Agent will
promptly notify the Lenders of any termination or reduction of the Letter of Credit Sublimit, Swing Line Sublimit or the Aggregate Commitments under this Section 2.06. Upon any reduction of the Aggregate Commitments, the
Commitment of each Lender shall be reduced by such Lender’s Applicable Percentage of such reduction amount. All fees in respect of the Aggregate Commitments accrued until the effective date of any termination of the Aggregate Commitments shall
be paid on the effective date of such termination. 
 Section 2.07. Repayment of Loans. 

(a) Loans. The Borrowers shall repay to the Lenders on the applicable Maturity Date the aggregate principal amount of all Loans
outstanding on such date. 
 (b) Swing Line Loans. The Borrowers shall repay each Swing Line Loan on the earlier to occur of
(i) the date ten Business Days after such Loan is made and (ii) the Maturity Date applicable to the Swing Line Lender. 
 (c)
Currencies. Each Loan shall be repaid by the applicable Borrower in the currency in which such Loan was borrowed. 
 (d) Non-Extending Lenders. The Borrowers shall make all payments required under Section 2.17 to each Non-Extending Lender. 

Section 2.08. Interest. 

(a) Subject to the provisions of Section 2.08(b), (i) each Eurocurrency Rate Loan shall bear interest on the
outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurocurrency Rate for such Interest Period plus the Applicable Rate; (ii) each Base Rate Loan shall bear interest on the outstanding principal
amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate; and (iii) each Swing Line Loan shall bear interest on the outstanding principal amount thereof from the applicable
borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate. 

  
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 (i) If any amount of principal of any Loan is not paid when due (without
regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent
permitted by applicable Laws. 
 (ii) If any amount (other than principal of any Loan) payable by a Borrower under any Loan
Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the
Default Rate to the fullest extent permitted by applicable Laws. 
 (iii) While any Event of Default exists (other than as
set forth in clauses (b)(i) and (b)(ii) above), the Borrowers shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the
fullest extent permitted by applicable Laws. 
 (iv) Accrued and unpaid interest on past due amounts (including interest on
past due interest) shall be due and payable upon demand. 
 (b) Interest on each Loan shall be due and payable in arrears on each Interest
Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding,
case or other action under any Debtor Relief Law. 
 (c) For the purposes of the Interest Act (Canada) and disclosure thereunder,
whenever a rate of interest or fee rate hereunder or under any of the Loan Documents is calculated on the basis of a year (the “deemed year”) that contains fewer days than the actual number of days in the calendar year of
calculation, such rate of interest or fee rate shall be expressed as a yearly rate by multiplying such rate of interest or fee rate by the actual number of days in the calendar year of calculation and dividing it by the number of days in the deemed
year. 
 (d) The principle of deemed reinvestment of interest shall not apply to any interest calculation hereunder. 

(e) The rates of interest stipulated herein are intended to be nominal rates and not effective rates or yields. 

Section 2.09. Fees. In addition to certain fees described in Sections 2.03(h) and (i): 

(a) Commitment Fee. The Borrowers shall pay to the Administrative Agent for the account of each Lender (other than a Defaulting Lender)
in accordance with its Applicable Percentage, a commitment fee in Dollars equal to the Applicable Rate for commitment fees times the actual daily amount by which the Aggregate Commitments exceeds the sum of (i) the Outstanding Amount of
Loans and (ii) the Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.15. For the avoidance of doubt, the Outstanding Amount of Swing Line Loans shall not be counted towards or
considered usage of the Aggregate Commitments for purposes of determining the commitment fee. The commitment fee shall 

  
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accrue at all times during the period commencing on the Closing Date until the applicable Maturity Date, including at any time during which one or more of the conditions in
Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Closing Date and on each
Maturity Date. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each
period during such quarter that such Applicable Rate was in effect. 
 (b) Other Fees. 

(i) The Borrowers shall pay to the Joint Lead Arrangers and the Administrative Agent for their own respective accounts, in
Dollars, fees in the amounts and at the times specified in the Fee Letters. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 

(ii) The Borrowers shall pay to the Lenders, in Dollars, such fees as shall have been separately agreed upon in writing in the
amounts and at the times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 

Section 2.10. Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate. 

(a) All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the Eurocurrency Rate) shall be made
on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which
results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a
Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear interest for one
day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error. 

(b) If, as a result of any restatement of or other adjustment to the financial statements of the US Borrower or for any other reason, the US
Borrower or the Lenders determine that (i) the Consolidated Net Leverage Ratio as calculated by the US Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Consolidated Net Leverage Ratio would have
resulted in higher pricing for such period, the Borrowers shall immediately and retroactively be obligated to pay to the Administrative Agent for the account of the applicable Lenders or the applicable L/C Issuers, as the case may be, promptly on
demand by the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for relief with respect to either Borrower under the Bankruptcy Code of the United States, automatically and without further action by the
Administrative Agent, any Lender or any L/C Issuer), an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period. This paragraph shall
not limit the rights of the Administrative Agent, any Lender or any L/C Issuer, as the case may be, under Sections 2.03(c)(iii), 2.03(h) or 2.08 (b) or under Article VIII. Each Borrower’s
obligations under this paragraph shall survive the termination of the Aggregate Commitments and the repayment of all other Obligations hereunder. 

  
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 Section 2.11. Evidence of Debt. 

(a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the
Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the
Borrowers and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrowers hereunder to pay any amount owing with respect to the Obligations. In
the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the
absence of manifest error. Upon the request of any Lender to a Borrower made through the Administrative Agent, such Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note, which shall evidence such Lender’s
Loans to such Borrower in addition to such accounts or records. Each Lender may attach schedules to a Note and endorse thereon the date, Type (if applicable), amount, currency and maturity of its Loans and payments with respect thereto. 

(b) In addition to the accounts and records referred to in Section 2.11(a), 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 and Swing Line Loans. 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. 

Section 2.12. Payments Generally; Administrative Agent’s Clawback. 

(a) General. All payments to be made by the Borrowers shall be made free and clear of and without condition, deduction or withholdings
for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrowers hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is
owed, at the applicable Administrative Agent’s Office in Dollars and in Same Day Funds not later than 2:00 p.m. on the date specified herein. All payments due under this Agreement shall be made in the United States. The Administrative Agent
will promptly distribute to each Lender its Applicable Percentage in respect of the Facility (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments
received by the Administrative Agent after 2:00 p.m. shall in each case be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment to be made by a Borrower shall come due on a
day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be. 

  
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 (i) Funding by Lenders; Presumption by Administrative Agent. Unless
the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing of Eurocurrency Rate Loans (or, in the case of any Borrowing of Base Rate Loans, prior to 12:00 noon on the date of such Borrowing) that
such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with
Section 2.02 (or, in the case of a Borrowing of Base Rate Loans, that such Lender has made such share available in accordance with and at the time required by Section 2.02) and may, in reliance
upon such assumption, make available to the applicable Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the
applicable 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 such 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, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in
connection with the foregoing, and (B) in the case of a payment to be made by such Borrower, the interest rate applicable to Base Rate Loans. If such 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 such Borrower the amount of such interest paid by such Borrower for such period. If such Lender pays its share of the applicable Borrowing to the Administrative Agent, then the
amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by such Borrower shall be without prejudice to any claim such Borrower may have against a Lender that shall have failed to make such payment to the
Administrative Agent. 
 (ii) Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative
Agent shall have received notice from a Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or an L/C Issuer hereunder that such Borrower will not make such payment, the Administrative
Agent may assume that such Borrower has made such payment on such date in accordance herewith and may (but shall not be required to), in reliance upon such assumption, distribute to the Lenders or the applicable L/C Issuer, as the case may be, the
amount due. With respect to any payment that Administrative Agent makes to any Lender, L/C Issuer or other Secured Party as to which Administrative Agent determines (in its sole and absolute discretion) that any of the following applies (such
payment referred to as the “Rescindable Amount”): (1) a Borrower has not in fact made the corresponding payment to Administrative Agent; (2) Administrative Agent has made a payment in excess of the amount(s) received by it from
a Borrower either individually or in the aggregate (whether or not then owed); or (3) Administrative Agent has for any reason otherwise erroneously made such payment; then each of the Secured Parties severally agrees to repay to Administrative
Agent forthwith on demand the Rescindable Amount so distributed to such Secured Party, in immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of
payment to Administrative Agent, at the Overnight Rate. 

  
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 A notice of the Administrative Agent to any Lender or either Borrower with respect to any
amount owing under this subsection (a) shall be conclusive, absent manifest error. 
 (b) Failure to Satisfy Conditions
Precedent. If any Lender makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to such
Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return
such funds (in like funds as received from such Lender) to such Lender, without interest. 
 (c) Obligations of Lenders Several. The
obligations of the Lenders hereunder to make Loans, to fund participations in Letters of Credit and Swing Line Loans and to make payments pursuant to Section 11.04(c) are several and not joint. The failure of any Lender to
make any Loan, to fund any such participation or to make any payment under Section 11.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no
Lender shall be responsible for the failure of any other Lender to so make its Loan, to purchase its participation or to make its payment under Section 11.04(c). 

(d) Funding Source. Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or
manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

(e) Insufficient Funds. If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all
amounts of principal, L/C Borrowings, interest and fees then due hereunder, such funds shall be applied (i) first, toward payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the
amounts of interest and fees then due to such parties, and (ii) second, toward payment of principal and L/C Borrowings then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and L/C
Borrowings then due to such parties. 
 Section 2.13. Sharing of Payments by Lenders. If any Lender shall, by exercising
any right of setoff or counterclaim or otherwise, obtain payment in respect of (a) Obligations due and payable to such Lender hereunder and under the other Loan Documents at such time in excess of its ratable share (according to the proportion
of (i) the amount of such Obligations due and payable to such Lender at such time to (ii) the aggregate amount of the Obligations due and payable to all Lenders hereunder and under the other Loan Documents at such time) of payments on
account of the Obligations due and payable to all Lenders hereunder and under the other Loan Documents at such time obtained by all the Lenders at such time or (b) Obligations owing (but not due and payable) to such Lender hereunder and under
the other Loan Documents at such time in excess of its ratable share (according to the proportion of (i) the amount of such Obligations owing (but not due and payable) to such Lender at such time to (ii) the aggregate amount of the
Obligations owing (but not due and payable) to all Lenders hereunder and under the other Loan Parties at such time) of payment on account of the Obligations owing (but not due and payable) to all Lenders hereunder and under the other Loan Documents
at such time obtained by all of the Lenders at such time then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, 

  
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and (b) purchase (for cash at face value) participations in the Loans and subparticipations in L/C Obligations and Swing Line 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 Obligations then due and payable to the Lenders or owing (but not due and payable) to the Lenders, as the
case may be, provided that: 
 (i) if any such participations or subparticipations are purchased and all or any
portion of the payment giving rise thereto is recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 

(ii) the provisions of this Section shall not be construed to apply to (x) any payment made by or on behalf of a
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), (y) the application of Cash Collateral provided for in
Section 2.14, 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 L/C Obligations or Swing Line Loans to any assignee or
participant, other than an assignment to a Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this Section shall apply). 

Each 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 such Borrower rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of such Borrower in the amount of such
participation. 
 Section 2.14. Cash Collateral. 

(a) Certain Credit Support Events. If (i) an L/C Issuer has honored any full or partial drawing request under any Letter of Credit
and such drawing has resulted in an L/C Borrowing, (ii) as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, (iii) the Borrowers shall be required to provide Cash Collateral pursuant to
Section 8.02(c), or (iv) there shall exist a Defaulting Lender, the Borrowers shall immediately (in the case of clause (iii) above) or within one Business Day (in all other cases), following any request by the
Administrative Agent or any L/C Issuer, provide Cash Collateral in an amount not less than the applicable Minimum Collateral Amount (determined in the case of Cash Collateral provided pursuant to clause (iv) above, after giving effect to
Section 2.15(a)(iv) and any Cash Collateral provided by the Defaulting Lender). If at any time the Administrative Agent determines that any funds held as Cash Collateral are subject to any right or claim of any Person other
than the Administrative Agent or that the total amount of such funds is less than the aggregate Outstanding Amount of all L/C Obligations, the Borrowers will, forthwith upon demand by the Administrative Agent, pay to the Administrative Agent, as
additional funds to be deposited as Cash Collateral, an amount equal to the excess of (x) such aggregate Outstanding Amount over (y) the total amount of funds, if any, then held as Cash Collateral that are free and clear of any such right
and claim. Upon the drawing of any Letter of Credit for which funds are on deposit as Cash Collateral, such funds shall be applied, to the extent permitted under applicable Laws, to reimburse the applicable L/C Issuer. 

  
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 (b) Grant of Security Interest. Each Borrower, and to the extent provided by any
Defaulting Lender, such Defaulting Lender, hereby grants to (and subjects to the control of) the Administrative Agent, for the benefit of the Administrative Agent, the L/C Issuers and the Lenders, and agrees to maintain, a first priority security
interest in all such cash, deposit accounts and all balances therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral may be
applied pursuant to Section 2.14(c). If at any time the Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent or the L/C Issuers as herein provided, or that the total amount of
such Cash Collateral is less than the Minimum Collateral Amount, the Borrowers 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. All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained in blocked deposit accounts at BMO. Each Borrower shall pay on demand therefor from time to time all customary and reasonable
account opening, activity and other administrative fees and charges in connection with the maintenance and disbursement of Cash Collateral. 

(c) Application. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under any of this
Section 2.14 or Sections 2.03, 2.04, 2.05, 2.15 or 8.02 in respect of Letters of Credit or Swing Line Loans shall be held and applied to the satisfaction of the specific L/C Obligations,
Swing Line Loans, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to
any other application of such property as may otherwise be provided for herein. 
 (d) Release. Cash Collateral (or the appropriate
portion thereof) provided to reduce Fronting Exposure or to secure other obligations shall be released promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by the
termination of Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee following compliance with Section 11.06(b)(vi))) or (ii) the determination by the Administrative Agent and the L/C
Issuers that there exists excess Cash Collateral; provided, however, (x) any such release shall be without prejudice to, and any disbursement or other transfer of Cash Collateral shall be and remain subject to, any other Lien
conferred under the Loan Documents and the other applicable provisions of the Loan Documents, and (y) the Person providing Cash Collateral and the applicable L/C Issuer may agree that Cash Collateral shall not be released but instead held to
support future anticipated Fronting Exposure or other obligations. 
 Section 2.15. Defaulting Lenders. 

(a) 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: 
 (i) Waivers
and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in Section 11.01 and in the definition of
“Required Lenders”. 

  
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 (ii) Defaulting Lender Waterfall. Any payment of principal, interest,
fees or other amounts received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise) or received by the Administrative
Agent from a Defaulting Lender pursuant to Section 11.08 shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such
Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the L/C Issuers or Swing Line Lender hereunder; third, to Cash Collateralize each L/C
Issuer’s Fronting Exposure with respect to such Defaulting Lender in accordance with Section 2.14; fourth, as the Borrowers may request (so long as no Default exists), to the funding of any Loan in respect of
which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrowers, to be held in a deposit
account and released pro rata in order to (x) satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement and (y) Cash Collateralize each L/C Issuer’s future Fronting Exposure
with respect to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in accordance with Section 2.14; sixth, to the payment of any amounts owing to the Lenders, the L/C Issuers
or Swing Line Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, any L/C Issuer or the Swing Line Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its
obligations under this Agreement; seventh, so long as no Default exists, to the payment of any amounts owing to either Borrower as a result of any judgment of a court of competent jurisdiction obtained by such Borrower against such Defaulting
Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is
a payment of the principal amount of any Loans or L/C Borrowings in respect of which such Defaulting Lender has not fully funded its appropriate share, and (y) such Loans were made or the related Letters of Credit were issued at a time when the
conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C Obligations owed to, all Non-Defaulting Lenders on a
pro rata basis prior to being applied to the payment of any Loans of, or L/C Obligations owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in L/C Obligations and Swing Line Loans are held by the
Lenders pro rata in accordance with the Commitments hereunder without giving effect to Section 2.15(a)(iv). 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 Section 2.15(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 

(iii) Certain Fees. 

(A) No Defaulting Lender shall be entitled to receive any fee payable under Section 2.09(a) for any
period during which that Lender is a Defaulting Lender (and the Borrowers shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender). 

  
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 (B) Each Defaulting Lender shall be entitled to receive Letter of Credit
Fees for any period during which that Lender is a Defaulting Lender only to the extent allocable to its Applicable Percentage of the stated amount of Letters of Credit for which it has provided Cash Collateral pursuant to
Section 2.14. 
 (C) With respect to any fee payable under
Section 2.09(a), any Letter of Credit Fee not required to be paid to any Defaulting Lender pursuant to clause (A) or (B) above, each Borrower shall (x) 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 or Swing Line Loans that has been
reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (y) pay to the applicable L/C Issuer and Swing Line Lender, as applicable, the amount of any such fee otherwise payable to such
Defaulting Lender to the extent allocable to such L/C Issuer’s or Swing Line Lender’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining amount of any such fee. 

(iv) Reallocation of Applicable Percentages to Reduce Fronting Exposure. All or any part of such Defaulting
Lender’s participation in L/C Obligations and Swing Line Loans shall be automatically reallocated (effective on the day such Lender becomes a Defaulting Lender) among the Non-Defaulting Lenders in
accordance with their respective Applicable Percentages (calculated without regard to such Defaulting Lender’s Commitment) but only to the extent that (x) the conditions set forth in Section 4.02 are satisfied at
the time of such reallocation (and, unless either Borrower shall have otherwise notified the Administrative Agent at such time, the Borrowers shall be deemed to have represented and warranted that such conditions are satisfied at such time), and
(y) such reallocation does not cause the aggregate Revolving Credit Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Commitment.
Subject to Section 11.22, 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. 

(v) Cash Collateral, Repayment of Swing Line Loans. If the reallocation described in clause (a)(iv) above cannot,
or can only partially, be effected, the Borrowers shall, without prejudice to any right or remedy available to it hereunder or under applicable Law, (x) first, prepay Swing Line Loans in an amount equal to the Swing Line Lender’s
Fronting Exposure and (y) second, Cash Collateralize the L/C Issuers’ Fronting Exposure in accordance with the procedures set forth in Section 2.14. 

(b) Defaulting Lender Cure. If each Borrower, the Administrative Agent, Swing Line Lender and the L/C Issuers agree in writing that a
Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with
respect to any Cash Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the
Loans and funded and 

  
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unfunded participations in Letters of Credit and Swing Line Loans to be held on a pro rata basis by the Lenders in accordance with their Applicable Percentages (without giving effect to
Section 2.15(a)(iv)), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of a 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. 
 Section 2.16. Increase in
Commitments. 
 (a) Request for Increase. Prior to the latest Maturity Date (determined at the time of request), provided
there exists no Default, upon notice to the Administrative Agent (which shall promptly notify the Lenders identified by the Borrowers), the Borrowers may from time to time, request increases in the aggregate Commitments; provided that
(i) any such request for an increase shall be in a minimum amount of $25,000,000, and (ii) no such increase shall be permitted if after giving effect thereto the Aggregate Commitments would exceed $390,000,000. At the time of sending such
notice to the Administrative Agent, the Borrowers (in consultation with the Administrative Agent) shall specify the time period within which each applicable Lender is requested to respond (which shall in no event be less than ten Business Days from
the date of delivery of such notice to the applicable Lenders). 
 (b) Lender Elections to Increase. Each applicable Lender shall
notify the Administrative Agent within such time period determined as set forth in clause (a) above whether or not it agrees to increase its Commitment and, if so, whether by an amount equal to, greater than, or less than its Applicable
Percentage of such requested increase. Any applicable Lender not responding within such time period shall be deemed to have declined to increase its Commitment. 

(c) Notification by Administrative Agent; Additional Lenders. The Administrative Agent shall notify the Borrowers of the Lenders’
responses to each request made hereunder. Subject to the approval of the Administrative Agent and each L/C Issuer (which approvals shall not be unreasonably withheld) to the same extent their approval would be needed for an assignment to such new
lender, the Borrowers may also invite additional Eligible Assignees (including prior to, and in lieu of, inviting Lenders) to become Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its
counsel (so long as the Commitment of each such Eligible Assignee equals or exceeds $5,000,000 on the Revolving Credit Increase Effective Date). 

(d) Effective Date and Allocations. If the aggregate Commitments are increased in accordance with this Section, the Administrative Agent
and the Borrowers shall determine the effective date (the “Revolving Credit Increase Effective Date”) and the final allocation of such increase. The Administrative Agent shall promptly notify the Borrowers and the Lenders of the
final allocation of such increase and the Revolving Credit Increase Effective Date. 

  
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 (e) Conditions to Effectiveness of Increase. As a condition precedent to such
increase, the Borrowers shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the Revolving Credit Increase Effective Date signed by a Responsible Officer of such Loan Party (i) certifying and attaching thereto
the resolutions adopted by the board of directors or other equivalent governing body of such Loan Party approving and consenting to such increase, and (ii) in the case of the Borrowers, certifying that, before and after giving effect to such
increase, (A) the representations and warranties of the Borrowers and each other Loan Party contained in Article V or any other Loan Document, shall be true and correct in all material respects (except for such
representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and correct in all respects) on and as of the Revolving Credit Increase Effective Date, except to the extent that such
representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse Effect
qualification, which shall be true and correct in all respects) as of such earlier date, and except that for purposes of this Section 2.16(e), the representations and warranties contained in Sections 5.05(a) and
(b) shall be deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and (b), respectively, and (B) no Default exists or will result from such increase. The Borrowers shall prepay (or make
other arrangements reasonably acceptable to the Administrative Agent with respect to) any Loans outstanding on the Revolving Credit Increase Effective Date (and pay (or otherwise make arrangements reasonably acceptable to each relevant Lender with
respect to) any additional amounts required pursuant to Section 3.05) to the extent necessary (as determined by the Administrative Agent in consultation with the US Borrower) to keep the outstanding Loans ratable with any
revised Applicable Percentages arising from any nonratable increase in the Commitments under this Section.  

(f) General. If any Lender’s Commitment is increased in accordance with this Section 2.16, (i)
immediately upon each Revolving Credit Increase Effective Date, Schedule 2.01 hereof shall be amended and restated to set forth all Lenders and their respective Commitments after giving effect to such increases, (ii) all calculations and
payments of interest on the Loans shall take into account the actual Commitments of each Lender and the principal amount outstanding of each Loan made by such Lender during the relevant period of time, and (iii) immediately upon each Revolving
Credit Increase Effective Date, each Lender’s participation in the L/C Obligations and Swing Line Loans on such Revolving Credit Increase Effective Date shall automatically be deemed to equal such Lender’s Applicable Percentage of the L/C
Obligations and Swing Line Loans (after giving effect to the Commitment increases on such Revolving Credit Increase Effective Date). 
 (g)
Conflicting Provisions. This Section 2.16 shall supersede any provisions in Section 2.13 or Section 11.01 to the contrary. 

Section 2.17. Extension of Maturity Date. 

(a) Request of Extension. No later than thirty (30) days prior to the latest Maturity Date (determined at the time of request),
upon written notice to the Administrative Agent (which shall promptly notify the Lenders and L/C Issuers of such notice), the Borrower shall have the option to request (such request, an “Extension Request”) an extension of the
latest Maturity Date (determined at the time of request) then in effect for an additional one-year period with respect to the existing Commitments; provided that no more than one (1) one-year extension shall be permitted hereunder as of the Amendment No. 1 Effective Date. Any election by a Lender and L/C Issuer to extend its Commitment will be at such Lender’s and L/C
Issuer’s sole discretion and such Lender’s failure to provide written consent to an Extension Request within fifteen (15) Business Days from the date of delivery of such Extension Request shall be deemed to be a refusal by such Lender
to so extend its Maturity Date. 

  
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 (b) Extension; Conditions Precedent. Subject to the Administrative Agent’s
receipt of written consents to such Extension Request from the Required Lenders (each such consenting Lender, an “Extending Lender”) and so long as no Default then exists or would be caused thereby, the Maturity Date shall be
extended for an additional one-year period for each Extending Lender (the date on which all applicable conditions are satisfied and such extension occurs, the “Extension Effective Date”);
provided that (i) each non-extending Lender (together with its successors and assigns, each a “Non-Extending Lender”) shall be required only
to complete its Commitment up to the previously effective Maturity Date (without giving effect to such Extension Request), (ii)(A) the Commitment of each Extending Lender (including the Commitment of each Additional Lender (as defined below)) shall
be on the same terms and conditions as the Commitment of each other Extending Lender and Additional Lender and (B) the Commitment of each Extending Lender shall be on the same terms and conditions as the Commitment of each Non-Extending Lender, except that: (1) the Maturity Date of the Extending Lenders may be delayed to a later date than the Maturity Date of the Non-Extending Lenders;
(2) fees (whether in the form of arrangement, structuring, upfront, or other fees or discounts, but excluding commitment fees, Letter of Credit Fees, and, except for any fees under Section 2.09(b), any other fees
expressly provided for in this Agreement) with respect to the Extending Lenders may be different from fees with respect to the Non-Extending Lenders and (3) any other covenants and terms (including,
without limitation, pricing) that apply solely to any period after the latest Maturity Date (determined at the time of extension) in effect immediately prior to the Extension Effective Date may be different from covenants and terms that apply to any
period prior to such date, and (iii) the Borrowers shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the applicable Extension Effective Date (in sufficient copies for each Lender) signed by a Responsible
Officer of each Loan Party (A) certifying and attaching thereto the resolutions adopted by the board of directors or other equivalent governing body of each of the Loan Parties approving and consenting to such extension and (B) in the case
of the Borrowers, certifying that, as of and immediately after giving effect to the applicable Extension Effective Date, (y) the representations and warranties of the Borrowers and each other Loan Party contained in
Article V or any other Loan Document, are true and correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and
correct in all respects) on and as of the applicable Extension Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects
(except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and correct in all respects) as of such earlier date, and, except that for purposes of this
Section 2.17(b), the representations and warranties contained in Sections 5.05(a) and (b) are deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and (b),
respectively and (z) no Default exists or will result from such extension; provided, further, that with respect to any previously Non-Extending Lender who is an Extending Lender with respect to a
current Extension Request, by giving its consent, such Extending Lender shall also be deemed to have approved each prior extension of its Maturity Date as to which it was a Non-Extending Lender. 

  
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 (c) Payments to Non-Extending Lenders; Reduction
of Commitment. The unpaid principal amount of all Loans owing to each Non-Extending Lender, together with all accrued and unpaid interest thereon and all fees accrued and unpaid under this Agreement and
all other amounts due to such Non-Extending Lender under this Agreement, including any breakage fees or costs that are payable pursuant to this Agreement, shall become due and payable by the Borrowers on such Non-Extending Lender’s effective Maturity Date (for the avoidance of doubt, without giving effect to such Extension Request) or the earlier replacement of such
Non-Extending Lender pursuant to Section 2.17(d) below. The Aggregate Commitments shall be reduced by the total Commitments of all
Non-Extending Lenders expiring on each such Non-Extending Lender’s effective Maturity Date (for the avoidance of doubt, without giving effect to such Extension
Request), unless and until one or more lenders (including other Lenders) shall have agreed to assume a, or increase its, Commitment hereunder (in which case such portion of the Aggregate Commitment shall be reinstated for such new Lender pursuant to
this Section). Each Non-Extending Lender shall be required to maintain its original Commitment until its Maturity Date (for the avoidance of doubt, without giving effect to such Extension Request) that such Non-Extending Lender had previously agreed upon. 
 (d) Replacement of Lender. The Borrower shall
have the right at any time to replace each Non-Extending Lender (i) with one or more financial institutions (each, an “Additional Lender”) (A) that are existing Lenders (and, if any such
Additional Lender is already a Lender, its Commitment shall be in addition to such Lender’s Commitment hereunder on such date) or (B) that are not existing Lenders; provided that any financial institution that is not an existing
Lender (x) must be an Eligible Assignee and (y) must become a Lender for all purposes under this Agreement pursuant to an Assignment and Assumption and (ii) on a non-pro rata basis with any such
financial institution that is willing to grant the Extension Request, including at a higher or lower Commitment than such Non-Extending Lenders’ respective Commitments; provided further that that
any replacement of one or more Non-Extending Lenders that results in a higher Aggregate Commitment than the Aggregate Commitment in effect prior the applicable Extension Effective Date shall, to the extent of
such excess, be effected pursuant to the requirements of Section 2.16. 
 (e) General. If any Maturity Date
is extended in accordance with this Section 2.17, (i) upon such Extension Effective Date, Schedule 2.01 hereof shall be amended and restated to set forth all Lenders (including any Additional Lenders) and their
respective Commitments and Maturity Dates after giving effect to such extensions, (ii) all calculations and payments of interest on the Loans shall take into account the actual Commitments of each Lender and the principal amount outstanding of
each Loan made by such Lender during the relevant period of time, and (iii) immediately prior to the occurrence of (A) the original Maturity Date and (B) any extended Maturity Date (other than the latest Maturity Date that is not then
being extended), the participation interest in L/C Obligations and Swing Line Loans of each Lender whose Commitment terminates on such Maturity Date (a “Terminating Lender”) shall be automatically reallocated (effective on such
Maturity Date) among the Lenders whose Commitments do not terminate on such Maturity Date (each a “Remaining Lender”) in accordance with their Applicable Percentages (calculated without regard to such Terminating Lenders’
Commitment) but only to the extent that (x) the conditions set forth in Sections 4.02(a) and 4.02(b) are satisfied at the time of such reallocation (and, unless the Borrowers have otherwise notified the Administrative Agent at
such time, the Borrowers shall be deemed to have represented and 

  
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warranted that such conditions are satisfied at such time), and (y) such reallocation does not cause the aggregate Revolving Credit Exposure of any Remaining Lender to exceed such Remaining
Lender’s Commitment. If the reallocation described in this Section 2.17(e) cannot, or can only partially, be effected, the Borrowers shall, without prejudice to any right or remedy available to the Administrative
Agent, the Lenders, or any L/C Issuer hereunder or under Law, (x) first, prepay Swing Line Loans in an amount equal to the portion of the Swing Line Lender’s Fronting Exposure that was attributable to Terminating Lenders but was not
so reallocated and (y) second, Cash Collateralize each L/C Issuer’s Fronting Exposure in an amount equal to the portion of such L/C Issuer’s Fronting Exposure (plus all related fees and expenses with respect to such Letters of
Credit then outstanding over their remaining terms) that was attributable to Terminating Lenders but was not so reallocated. 
 (f)
Conflicting Provisions. This Section 2.17 shall supersede any provisions in Section 2.13 or Section 11.01 to the contrary. 

ARTICLE III. 
 TAXES,
YIELD PROTECTION AND ILLEGALITY 
 Section 3.01. Taxes. 

(a) Payments Free of Taxes. Any and all payments by or on account of any Obligation of any Loan Party under any Loan Document shall be
made without deduction or withholding for any Taxes, except as required by applicable Law. If any applicable Law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from
any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance
with applicable Law and, if such Tax is an Indemnified Tax, then the sum payable by the applicable Loan Party shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings
applicable to additional sums payable under this Section) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made. 

(b) Payment of Other Taxes by the Borrowers. The Borrowers, as applicable, shall timely pay to the relevant Governmental Authority in
accordance with applicable Law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes. 
 (c)
Indemnification by the Loan Parties. Each Loan Party shall indemnify each Recipient, within 10 days after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to
amounts payable under this Section) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified
Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the applicable Loan Party by a Lender (with a copy to the Administrative Agent), or
by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. 

  
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 (d) Indemnification by the Lenders. Each Lender shall severally indemnify the
Administrative Agent, within 10 days after demand therefor, for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes
and without limiting the obligation of the Loan Parties to do so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 11.06(d) relating to the maintenance of a Participant
Register and (iii) any Excluded Taxes attributable to such Lender, in each case, that are payable or paid by the Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto,
whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive
absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any
other source against any amount due to the Administrative Agent under this paragraph (d). 
 (e) Evidence of Payments. As soon as
practicable after any payment of Taxes by any Loan Party to a Governmental Authority pursuant to this Section 3.01, such Loan Party shall deliver to the Administrative Agent the original or a certified copy of a receipt
issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 

(f) Status of Lenders; Tax Documentation. 

(i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any
Loan Document shall deliver to the Borrowers and the Administrative Agent, at the time or times reasonably requested by the Borrowers or the Administrative Agent, such properly completed and executed documentation reasonably requested by the
Borrowers or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrowers or the Administrative Agent, shall deliver such
other documentation prescribed by applicable Law or reasonably requested by the Borrowers or the Administrative Agent as will enable the Borrowers or the Administrative Agent to determine whether or not such Lender is subject to backup withholding
or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation either (A) set forth in
Section 3.01(f)(ii)(A), (ii)(B) and (ii)(D) below or (B) required by applicable Law, other than the Code, or the taxing authorities of the jurisdiction pursuant to such applicable Law to comply with the
requirements for exemption or reduction of withholding Tax in that jurisdiction, to the extent the Lender is legally entitled to deliver such documentation) shall not be required if in the Lender’s reasonable judgment such completion, execution
or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 

(ii) Without limiting the generality of the foregoing, in the event that a Borrower is a U.S. Person, 

  
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 (A) any Lender that is a U.S. Person shall deliver to each Borrower and the
Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of either Borrower or the Administrative Agent), executed copies of IRS Form W-9 certifying that such Lender is exempt from U.S. federal backup withholding Tax; 
 (B)
any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to each 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
becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of either Borrower or the Administrative Agent), whichever of the following is applicable: 

(1) in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party
(x) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E
(as applicable) establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS
Form W-8BEN or IRS Form W-8 BEN-E (as applicable) establishing an exemption from, or reduction of, U.S. federal withholding Tax
pursuant to the “business profits” or “other income” article of such tax treaty; 
 (2) executed copies
of IRS Form W-8ECI; 
 (3) in the case of a Foreign Lender claiming the benefits of
the exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit H-1 to the effect that such Foreign Lender is not a “bank”
within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent shareholder” of either Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in
Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”) and (y) executed copies of IRS Form W-8BEN or IRS Form W-8 BEN-E (as applicable); or 
 (4) to the extent a Foreign Lender is not the beneficial
owner, executed copies of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or IRS Form W-8 BEN-E (as applicable), a U.S. Tax Compliance Certificate substantially in the form of Exhibit H-2 or
Exhibit H-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign
Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of
Exhibit H-4 on behalf of each such direct and indirect partner; 

  
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 (C) any Foreign Lender shall, to the extent it is legally entitled to do so,
deliver to the Borrowers 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 becomes a Lender under this Agreement (and from time to time thereafter upon
the reasonable request of the Borrowers or the Administrative Agent), executed copies of any other form prescribed by applicable Law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with
such supplementary documentation as may be prescribed by applicable Law to permit the Borrowers or the Administrative Agent to determine the withholding or deduction required to be made; and 

(D) if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if
such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the applicable Borrower and the
Administrative Agent at the time or times prescribed by Law and at such time or times reasonably requested by such Borrower or the Administrative Agent such documentation prescribed by applicable Law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrowers or the Administrative Agent as may be necessary for the Borrowers and the Administrative Agent to comply with their obligations under
FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include
any amendments made to FATCA after the date of this Agreement. 
 (iii) Each Lender agrees that if any form or certification
it previously delivered pursuant to this Section 3.01 expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrowers and the Administrative Agent in
writing of its legal inability to do so. 
 (iv) The Administrative Agent (and any assignee or successor) will deliver, to
the Borrowers, on or prior to the execution and delivery of this Agreement (or, assignment or succession, if applicable), either (i) (A) two (2) executed copies of IRS Form W-8ECI with respect to any
amounts payable to the Administrative Agent for its own account and (B) two (2) duly completed copies of IRS Form W-8IMY (certifying that it is either a “qualified intermediary” or a “U.S.
branch”) for the amounts the Administrative Agent receives for the account of others, or (ii) two (2) executed copies of IRS Form W-9, whichever is applicable, and in each case of (i) and (ii),
with the effect that the Borrowers can make payments to the Administrative Agent without deduction or withholding of any taxes imposed by the United States. 

(g) Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received a refund
of any Taxes as to which it has been indemnified pursuant to this Section 3.01 (including by the payment of additional amounts pursuant to this Section 3.01), it shall pay to the indemnifying party
an amount equal to such 

  
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refund (but only to the extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying
party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to this paragraph (g) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event
that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (g), in no event will the indemnified party be required to pay any amount to an indemnifying
party pursuant to this paragraph (g) 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 and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This paragraph shall not be construed to require
any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to the indemnifying party or any other Person. 

(h) Survival. Each party’s obligations under this Section 3.01 shall survive the resignation or
replacement of the Administrative Agent or any assignment of rights by, or the replacement of, any Lender or L/C Issuer, the termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations. 

Section 3.02. Illegality. If any Lender determines that any Law has made it unlawful, or that any Governmental Authority
has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Loans, or to determine or charge interest rates based upon the Eurocurrency Rate, or any Governmental Authority has imposed material
restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the applicable interbank or money market, then, on notice thereof by such Lender to the Borrowers through the Administrative Agent, any obligation
of such Lender to make or continue the relevant Loans in the affected currency or currencies shall be suspended; provided that if such notice asserts the illegality of such Lender making or maintaining Base Rate Loans, the interest rate on which is
determined by reference to the Eurocurrency Rate component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the
Eurocurrency Rate component of the Base Rate until such Lender notifies the Administrative Agent and the Borrowers that the circumstances giving rise to such determination no longer exist. Upon receipt of such notice, (x) the Borrowers shall,
upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurocurrency Rate Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender shall, if necessary to
avoid such illegality, be determined by the Administrative Agent without reference to the Eurocurrency Rate component of the Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such
Eurocurrency Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurocurrency Rate Loans and (y) if such notice asserts the illegality of such Lender determining or charging interest rates based
upon the Eurocurrency Rate, the Administrative Agent shall during the period of such suspension compute, in the case of Eurocurrency Rate Loans, the Base Rate applicable to such Lender without reference to the Eurocurrency Rate component thereof
until the Administrative Agent is advised in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon the Eurocurrency Rate. Upon any such prepayment or conversion, the Borrowers shall also
pay accrued interest on the amount so prepaid or converted. 

  
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 Section 3.03. Inability to Determine Rates. 

(a) If in connection with any request for a Eurocurrency Rate Loan or a conversion to or continuation thereof, (i) subject to
Section 3.03(b), the Administrative Agent determines that (A) deposits in Dollars are not being offered to banks in the applicable offshore interbank market for such currency for the applicable amount and Interest
Period of such Eurocurrency Rate Loan or (B) adequate and reasonable means do not exist for determining the Eurocurrency Rate for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan or in connection with an existing
or proposed Base Rate Loan (in each case with respect to clause (i) above, “Impacted Loans”), or (ii) the Administrative Agent or the Required Lenders determine that for any reason the Eurocurrency Rate for any
requested Interest Period with respect to a proposed Eurocurrency Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Eurocurrency Rate Loan, the Administrative Agent will promptly so notify the Borrowers and
each Lender. Thereafter, the obligation of the Lenders to make or maintain Eurocurrency Rate Loans shall be suspended, (to the extent of the affected Eurocurrency Rate Loans or Interest Periods), in the event of a determination described in the
preceding sentence with respect to the Eurocurrency Rate component of the Base Rate, the utilization of the Eurocurrency Rate component in determining the Base Rate shall be suspended, in each case, until the Administrative Agent (upon the
instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrowers may revoke any pending request for a Borrowing of, conversion to or continuation of Eurocurrency Rate Loans (to the extent of the affected
Eurocurrency Rate Loans or Interest Periods) or, failing that, will be deemed to have converted such request into, in the case of a requested Eurocurrency Rate Loan, a request for a Borrowing of Base Rate Loans in the amount specified therein. 

(b) Benchmark Replacement Setting. Notwithstanding anything to the contrary herein or in any other Loan Document: 

(i) Replacing LIBOR. 

(A) On March 5, 2021, the Financial Conduct Authority (“FCA”), the regulatory supervisor of LIBOR’s
administrator (“IBA”), announced in a public statement the future cessation or loss of representativeness of overnight/Spot Next, 1-month, 3-month, 6-month and 12-month LIBOR index rate tenor settings. On the earlier of (x) the date that all Available Tenors of LIBOR have either permanently or indefinitely ceased to
be provided by IBA or have been announced by the FCA pursuant to public statement or publication of information to be no longer representative and (y) the Early Opt-in Effective Date, if the then-current
Benchmark is the Eurocurrency Rate, the Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any setting of such Benchmark on such day and all subsequent settings without any
amendment to, or further action or consent of any other party to this Agreement or any other Loan Document. If the Benchmark Replacement is Daily Simple SOFR, all interest payments will be payable on a monthly basis. 

  
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 (B) Subject to the proviso below in this paragraph, if a Term SOFR Event
has occurred in respect to the then-current Benchmark, then the applicable Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder or under any Loan Document in respect of such Benchmark setting and subsequent
Benchmark settings, without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document; provided that, this clause (i)(B) shall not be effective until 30 days after the Administrative Agent
has delivered to the Lenders and the Borrowers a Term SOFR Notice (or such later date as the Administrative Agent may select for effectiveness in the Term SOFR Notice). For the avoidance of doubt, the Administrative Agent shall not be required to
deliver a Term SOFR Notice after a Term SOFR Event and may elect or not elect to do so in its sole discretion. 
 (ii)
Replacing Future Benchmarks. Upon the occurrence of a Benchmark Transition Event, the Benchmark Replacement will replace the then-current Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at
or after 5:00 p.m. on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document
so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required Lenders. At any time that the administrator of the then-current Benchmark has
permanently or indefinitely ceased to provide such Benchmark or such Benchmark has been announced by the regulatory supervisor for the administrator of such Benchmark pursuant to public statement or publication of information to be no longer
representative of the underlying market and economic reality that such Benchmark is intended to measure and that representativeness will not be restored, the Borrowers may revoke any request for a borrowing of, conversion to or continuation of Loans
to be made, converted or continued that would bear interest by reference to such Benchmark until the Borrowers’ receipt of notice from the Administrative Agent that a Benchmark Replacement has replaced such Benchmark, and, failing that, the
Borrowers will be deemed to have converted any such request into a request for a borrowing of or conversion to Base Rate Loans. During the period referenced in the foregoing sentence, the component of the Base Rate based upon the Benchmark will not
be used in any determination of the Base Rate. 
 (iii) Benchmark Replacement Conforming Changes. In connection with
the implementation and administration of a Benchmark Replacement, the Administrative Agent will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other
Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. 

  
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 (iv) Notice; Standards for Decisions and Determinations. The
Administrative Agent will promptly notify the Borrowers and the Lenders of (x) the implementation of any Benchmark Replacement, and (y) the effectiveness of any Benchmark Replacement Conforming Changes. Any determination, decision or
election that may be made by the Administrative Agent or, if applicable, any Lender (or group of Lenders) pursuant to this Section 3.03, 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 Section 3.03. 

(v) Unavailability of Tenor of Benchmark. At any time (including in connection with the implementation of a Benchmark
Replacement), (x) if the then-current Benchmark is a term rate (including Term SOFR or the Eurocurrency Rate), then the Administrative Agent may remove any tenor of such Benchmark that is unavailable or
non-representative for Benchmark (including Benchmark Replacement) settings and (y) the Administrative Agent may reinstate any such previously removed tenor for Benchmark (including Benchmark Replacement)
settings. 
 Section 3.04. Increased Costs; Reserves on Eurocurrency Rate Loans. 

(a) Increased Costs Generally. If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement
against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement reflected in the Adjusted Eurocurrency Rate) or any L/C Issuer; 

(ii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses
(b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable
thereto; or 
 (iii) impose on any Lender or any L/C Issuer or the London interbank market any other condition, cost or
expense affecting this Agreement or 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, converting to, continuing or maintaining any Loan, or of maintaining its obligation to make any such Loan, or to increase the cost to such Lender or such L/C Issuer 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 such L/C Issuer hereunder (whether of principal,
interest or any other amount) then, upon request of such Lender or such L/C Issuer, the Borrowers will pay to such Lender or such L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or such L/C Issuer, as
the case may be, for such additional costs incurred or reduction suffered. 

  
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 (b) Capital Requirements. If any Lender or any L/C Issuer determines that any Change
in Law affecting such Lender or such L/C Issuer or any Lending Office of such Lender or such Lender’s or such L/C Issuer’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 such L/C Issuer’s capital or on the capital of such Lender’s or such L/C Issuer’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 or Swing Line Loans held by, such Lender, or the Letters of Credit issued by such L/C Issuer, to a level below that which such Lender or such L/C Issuer or such Lender’s or such L/C Issuer’s
holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or such L/C Issuer’s policies and the policies of such Lender’s or such L/C Issuer’s holding company with respect to capital
adequacy or liquidity), then from time to time the Borrowers will pay to such Lender or such L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or such L/C Issuer or such Lender’s or such L/C
Issuer’s holding company for any such reduction suffered. 
 (c) Certificates for Reimbursement. A certificate of a Lender or an
L/C Issuer setting forth the amount or amounts necessary to compensate such Lender or such L/C Issuer or its holding company, as the case may be, as specified in subsection (a) or (b) of this Section and delivered to the
Borrowers shall be conclusive absent manifest error. The Borrowers shall pay such Lender or such L/C Issuer, as the case may be, the amount shown as due on any such certificate within 10 days after receipt thereof. 

(d) Delay in Requests. Failure or delay on the part of any Lender or any L/C Issuer to demand compensation pursuant to the foregoing
provisions of this Section 3.04 shall not constitute a waiver of such Lender’s or such L/C Issuer’s right to demand such compensation, provided that neither Borrower shall be required to compensate a Lender
or an L/C Issuer pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than nine months prior to the date that such Lender or such L/C Issuer, as the case may be, notifies the
Borrowers of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or such L/C Issuer’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or
reductions is retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive effect thereof). 

Section 3.05. Compensation for Losses. Upon demand of any Lender (with a copy to the Administrative Agent) from time to
time, the Borrowers shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 

(a) any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the
Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 
 (b) any failure by
either 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 a Base Rate Loan on the date or in the amount notified by the Borrowers; 

(c) [reserved]; or 

  
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 (d) any assignment of a Eurocurrency Rate Loan on a day other than the last day of the
Interest Period therefor as a result of a request by the Borrowers pursuant to Section 11.13; 
 including any loss of anticipated
profits, any foreign exchange losses and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan, from fees payable to terminate the deposits from which such funds were obtained or from the
performance of any foreign exchange contract. The Borrowers shall also pay any customary administrative fees charged by such Lender in connection with the foregoing. 

For purposes of calculating amounts payable by the Borrowers to the Lenders under this Section 3.05, each Lender
shall be deemed to have funded each Eurocurrency Rate Loan made by it at the Eurocurrency Rate for such Loan by a matching deposit or other borrowing in the offshore interbank market for such currency for a comparable amount and for a comparable
period, whether or not such Eurocurrency Rate Loan was in fact so funded. 
 Section 3.06. Mitigation Obligations; Replacement of
Lenders. 
 (a) Designation of a Different Lending Office. Each Lender may make any Credit Extension to either Borrower
through any Lending Office, provided that the exercise of this option shall not affect the obligation of such Borrower to repay the Credit Extension in accordance with the terms of this Agreement. If any Lender requests compensation under
Section 3.04, or requires either Borrower to pay any Indemnified Taxes or additional amounts to any Lender, any L/C Issuer, or any Governmental Authority for the account of any Lender or any L/C Issuer pursuant to
Section 3.01, or if any Lender gives a notice pursuant to Section 3.02, then at the request of the Borrowers such Lender or such L/C Issuer shall, as applicable, use reasonable efforts to designate
a different Lending Office 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 such L/C Issuer, such designation or
assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the notice pursuant to
Section 3.02, as applicable, and (ii) in each case, would not subject such Lender or such L/C Issuer, as the case may be, to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender or
such L/C Issuer, as the case may be. The Borrowers hereby agree to pay all reasonable costs and expenses incurred by any Lender or any L/C Issuer in connection with any such designation or assignment. 

(b) Replacement of Lenders. If any Lender requests compensation under Section 3.04, or if either Borrower is
required to pay any Indemnified Taxes or additional amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01 and, in each case, such Lender has declined or is unable to
designate a different Lending Office in accordance with Section 3.06(a), the Borrowers may replace such Lender in accordance with Section 11.13. If any Lender is a
Non-Extending Lender, and the Required Lenders have approved the related Extension Request, then the Borrowers may replace such Non-Extending Lender in accordance with
Section 2.17(d) and Section 11.13. 

  
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 Section 3.07. Survival. All obligations of the Loan Parties under this
Article III shall survive termination of the Aggregate Commitments, repayment of all other Obligations hereunder, and resignation of the Administrative Agent. 

ARTICLE IV. 
 CONDITIONS
PRECEDENT TO CREDIT EXTENSIONS 
 Section 4.01. Conditions of Initial Credit Extension. The obligation of each L/C
Issuer and each Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent: 

(a) The Administrative Agent’s receipt of the following, each of which shall be originals or telecopies (followed promptly by originals)
unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party, each dated the Closing Date (or, in the case of certificates of governmental officials, a recent date before the Closing Date) and each in form
and substance reasonably satisfactory to the Administrative Agent and each of the Lenders: 
 (i) executed counterparts of
this Agreement and the Guaranty; 
 (ii) Notes executed by the Borrowers in favor of each Lender requesting a Note; 

(iii) [Reserved.] 

(iv) amendments to and reaffirmations of Mortgages, duly executed by the applicable Loan Party and the Administrative Agent and
otherwise in form and substance reasonably satisfactory to the Administrative Agent, amending such terms and provisions of the Mortgages to reflect the effectiveness of this Agreement; 

(v) mortgage tax affidavits or amendments to mortgage tax affidavits, as applicable, duly executed by the applicable Loan Party
and otherwise in form and substance reasonably satisfactory to the Administrative Agent; 
 (vi) the Security Agreement, duly
executed by each Borrower and each Guarantor, together with: 
 (A) to the extent required thereby and not previously
delivered to the Administrative Agent, certificates, if any, representing the Pledged Equity referred to therein accompanied by undated stock powers executed in blank or registered in the name of such nominee or nominees as the Administrative Agent
shall specify and instruments, if any, evidencing any Indebtedness pledged by the Loan Parties pursuant to the Security Agreement indorsed in blank, 

(B) proper financing statements, Personal Property Security Act financing statements or other filings in form appropriate for
filing under the Uniform Commercial Code or the Personal Property Security Act, as applicable, of all jurisdictions that the Administrative Agent may deem necessary or desirable in order to perfect the Liens created under the Security Agreement, the
Canadian Debentures and the Canadian Debenture Pledge Agreements covering the Collateral described in the Security Agreement, the Canadian Debentures and the Canadian Debenture Pledge Agreements, 

  
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 (C) copies of each Luxembourg Loan Party’s shareholder register and
UCC, Personal Property Security Act, federal and state tax and bankruptcy lien searches, in each case, dated as of a recent date with respect to the Borrower and each other Loan Party as of the Closing Date, 

(D) evidence of the completion of all other actions, recordings and filings of or with respect to the Security Agreement that
the Administrative Agent may deem reasonably necessary or reasonably desirable in order to perfect the Liens created thereby, and 

(E) evidence that all other action that the Administrative Agent may deem necessary or desirable in order to perfect the Liens
created under the Security Agreement has been taken (including receipt of duly executed payoff letters, UCC-3 termination statements and Personal Property Security Act discharge verification statements); 

(vii) a Canadian Security Confirmation duly executed by each Canadian Loan Party; 

(viii) the Luxembourg Security Confirmation duly executed by each Luxembourg Loan Party; 

(ix) such certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible
Officers of each Loan Party as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the other Loan
Documents to which such Loan Party is a party or is to be a party; 
 (x) such documents and certifications as the
Administrative Agent may reasonably require to evidence that each Loan Party is duly organized or formed, and that each Borrower and each Guarantor is validly existing, in good standing and qualified to engage in business in its jurisdiction of
organization and each other jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification, except to the extent that failure to do so could not reasonably be expected to have a Material
Adverse Effect; 
 (xi) with respect to any Luxembourg Loan Party, a certificate of an authorized signatory of each such
entity dated as of the date of this Agreement and certifying (A) that attached thereto is a true and complete copy of the Organization Documents (including, without limitation, a copy of the up-to-date articles of incorporation or articles of association, as applicable, including all amendments thereto, of each such entity) of each such entity as in effect on the date of that certificate,
(B) that attached thereto is a true and complete copy of resolutions duly adopted by the board of directors or managers (or 

  
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equivalent governing body) of each such entity, as applicable, authorizing the execution, delivery and performance of the Loan Documents to which such Luxembourg Loan Party is a party and
that such resolutions have not been modified, rescinded or amended and are in full force and effect, (C) as to the incumbency and specimen signature of each officer executing any Loan Document or any other document delivered in connection
herewith on behalf of each such entity, (D) that attached thereto is a copy of a certificate of non-registration of judgments (certificat de non inscription d’une décision judiciaire),
issued by the Luxembourg Companies Register with regard to each such entity dated not earlier than one Business Day before the date of this Agreement, (E) that attached thereto is a certified, true, complete and
up-to-date copy of an extract from the Luxembourg Companies Register pertaining to each such entity dated not earlier than one Business Day before the date of this
Agreement, (F) that attached thereto is a domiciliation certificate issued by the domiciliation agent of each Luxembourg Loan Party dated as of the Closing Date, and (G) that such Luxembourg Loan Party is not subject to nor, as applicable,
does not meet or, to the best of its knowledge, threaten to meet the criteria of bankruptcy (faillite), insolvency, voluntary or judicial liquidation (liquidation volontaire ou judiciaire), composition with creditors (concordat
préventif de la faillite), controlled management (gestion contrôlée), reprieve from payment (sursis de paiement), general settlement with creditors, reorganisation or similar laws affecting the rights of
creditors generally, is not in a state of cessation of payments (cessation de payments) and has not lost its commercial creditworthiness (ébranlement de credit) and to the best of its knowledge, no application has been made, as
far as it is aware, by any other person entitled for the appointment of a commissaire, juge-commissaire, liquidateur, curateur or similar officer pursuant to any voluntary or judicial insolvency,
winding-up, liquidation or similar proceedings; 
 (xii) with respect to each Loan
Party (other than a Luxembourg Loan Party, which is addressed in clause (xi) above), a certificate of an authorized signatory of each such entity dated as of the date of this Agreement and certifying (A) that attached thereto is a true and
complete copy of the Organization Documents of each such entity as in effect on the date of that certificate, (B) that attached thereto is a true and complete copy of resolutions duly adopted by the board of directors or managers of each such
entity, as applicable, authorizing the execution, delivery and performance of the Loan Documents to which such Loan Party is a party and that such resolutions have not been modified, rescinded or amended and are in full force and effect,
(C) as to the incumbency and specimen signature of each officer executing any Loan Document or any other document delivered in connection herewith on behalf of each such entity, and (D) that attached thereto is a copy of a certificate of
good standing or equivalent certificate of such Loan Party issued by the applicable Governmental Authority in the jurisdiction of formation or incorporation of such Loan Party and a similar certificate from each other jurisdiction where such Loan
Party’s ownership, lease, or operation of properties or the conduct of its business requires such qualification, except to the extent the failure to do so could not reasonably be expected to have a Material Adverse Effect; 

(xiii) a favorable opinion of Latham & Watkins, LLP, counsel to the Loan Parties, addressed to the Administrative
Agent and each Lender, as to customary matters concerning the Loan Parties and the Loan Documents as the Required Lenders may reasonably request; 

  
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 (xiv) a favorable opinion of (i) local counsel to the Loan Parties in
Canada addressed to the Administrative Agent and each Lender, as to customary matters concerning the Loan Parties and the Loan Documents as the Administrative Agent may reasonably request and (ii) local counsel to the Loan Parties in British
Columbia, Canada as to customary matters concerning the Loan Parties and the Loan Documents as the Administrative Agent may reasonably request; 

(xv) a favorable opinion of local counsel to the Loan Parties in Luxembourg addressed to the Administrative Agent and
each Lender, as to customary matters concerning the Loan Parties and the Loan Documents as the Administrative Agent may reasonably request; 

(xvi) a favorable opinion of local counsel to the Loan Parties in Oklahoma addressed to the Administrative Agent and
each Lender, as to customary matters concerning the Loan Parties and the Loan Documents as the Administrative Agent may reasonably request; 

(xvii) a favorable opinion of local counsel to the Loan Parties in Wyoming addressed to the Administrative Agent and
each Lender, as to customary matters concerning the Loan Parties and the Loan Documents as the Administrative Agent may reasonably request; 

(xviii) a certificate of a Responsible Officer of each Loan Party either attaching copies of all consents, licenses and
approvals required in connection with the execution, delivery and performance by such Loan Party and the validity against such Loan Party of the Loan Documents to which it is a party, and certifying that such consents, licenses and approvals are in
full force and effect, or stating that no such consents, licenses or approvals are so required; 
 (xix) a certificate signed
by a Responsible Officer of the US Borrower certifying (A) that the conditions specified in Sections 4.02(a) and (b) have been satisfied, and (B) that there has been no event or circumstance since the date of the Audited
Financial Statements that has had or could be reasonably expected to have, either individually or in the aggregate, a Material Adverse Effect; 

(xx) a certificate of a Financial Officer of the US Borrower attesting to the Solvency of the US Borrower and the Restricted
Subsidiaries, on a consolidated basis, before and after giving effect to the execution and delivery of the Loan Documents and all Credit Extensions to be made on the Closing Date; 

(xxi) the Audited Financial Statements and the Unaudited Quarterly Financial Statements; 

  
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 (xxii) to the extent not previously provided or made available to the
Administrative Agent (including pursuant to the Existing Credit Agreement), the Administrative Agent shall have received all existing Phase I environmental assessments and other audits, assessments, or reports relating to environmental
conditions or compliance with Environmental Laws which have been previously conducted or other reports, in each case to the extent in the possession of the Borrowers, as the Administrative Agent may reasonably require and the Administrative Agent
shall be satisfied in its reasonable discretion with the condition of the properties of the Borrowers and their Subsidiaries with respect to the Borrowers’ and their Subsidiaries’ (or their respective predecessors’) compliance with
Environmental Laws; and 
 (xxiii) evidence that all insurance required to be maintained pursuant to the Loan Documents
(including title insurance) has been obtained and is in effect, together with the certificates of insurance, naming the Administrative Agent, on behalf of the Secured Parties, as an additional insured or lender loss payee, as the case may be, under
all insurance policies (including flood insurance policies) maintained with respect to the assets and properties of the Loan Parties that constitute Collateral; 

(xxiv) [Reserved]; 

(xxv) evidence that the Canadian Borrower has complied with Section 11.15(d); 

(xxvi) endorsements to existing title insurance policies with respect to the Mortgages in form and substance satisfactory to
the Administrative Agent; 
 (xxvii) a Loan Notice for a Borrowing; and 

(xxviii) such other assurances, certificates, documents, consents or opinions as the Administrative Agent, any L/C Issuer, the
Swing Line Lender or any Lender reasonably may require. 
 (b) Each Lender shall have received, at least five (5) days prior to the
Closing Date, (i) all information requested by it pursuant to Section 11.19 and for purposes of compliance with other applicable “know your customer” and anti-money laundering rules and regulations, to the
extent requested at least five (5) Business Days prior to the Closing Date, and (ii) to the extent requested by such Lender, a Beneficial Ownership Certification in relation to each Borrower; 

(c) (i) All fees required to be paid to the Administrative Agent and the Joint Lead Arrangers on or before the Closing Date shall have been
paid, (ii) all fees required to be paid to the Lenders on or before the Closing Date shall have been paid, and (iii) all mortgage tax and related fees required to be paid with respect to the Mortgages (or any amendments or supplements
thereto) shall have been paid; 
 (d) Unless waived by the Administrative Agent, the Borrowers shall have paid all fees, charges and
disbursements of counsel to the Administrative Agent (directly to such counsel if requested by the Administrative Agent) consistent with Section 11.04(a) to the extent invoiced at least one (1) Business Day prior to
the Closing Date, plus such additional amounts of such fees, charges and disbursements as shall constitute its reasonable estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings
(provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrowers and the Administrative Agent); 

  
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 (e) The representations and warranties of the Borrowers and each other Loan Party contained
in Article V or any other Loan Document are true and correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and
correct in all respects) on and as of the date of the Closing Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects (except
for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and correct in all respects) as of such earlier date; 

(f) There has been no event or circumstance since the date of the Audited Financial Statements that has had or could be reasonably expected to
have, either individually or in the aggregate, a Material Adverse Effect; 
 (g) (i) The Existing Loans and Existing L/C Advances (if any)
shall have been paid in full (or will be paid in full substantially concurrently with the closing of this Agreement as of the date hereof) (which payment may, for the avoidance of doubt, be made with the proceeds of a Borrowing made under this
Agreement on the Closing Date) and (ii) each Existing Lender (including each Exiting Lender) shall have been paid (or will be paid substantially concurrently with the closing of this Agreement on the date hereof) all accrued interest, accrued
fees, and other amounts payable (other than the outstanding principal amount of Existing Loans and Existing L/C Advances) to such Existing Lender under the Existing Credit Agreement; and 

(h) The Loan Parties shall have provided true, correct, and complete copies of all Material Contracts to the Administrative Agent and the
Lenders to the extent not previously provided (and the Administrative Agent and the Lenders agree that any Material Contract filed with the SEC shall be deemed delivered). 

Without limiting the generality of the provisions of Section 10.03(e), for purposes of determining compliance with the conditions
specified in this Section 4.01, each Lender and L/C Issuer that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder
to be consented to or approved by or acceptable or satisfactory to a Lender or L/C Issuer unless the Administrative Agent shall have received notice from such Lender or L/C Issuer prior to the proposed Closing Date specifying its objection thereto.

 Section 4.02. Conditions to all Credit Extensions. The obligation of each Lender and each L/C Issuer to honor any
Request for Credit Extension (other than a Loan Notice requesting only a conversion of Loans to the other Type or a continuation of Eurocurrency Rate Loans) is subject to the following conditions precedent: 

(a) The representations and warranties of the Borrowers and each other Loan Party contained in Article V or any other
Loan Document shall be true and correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and correct in all respects) on and as of the date

  
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of such Credit Extension, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material
respects (except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and correct in all respects) as of such earlier date, and except that for purposes of this
Section 4.02, the representations and warranties contained in Sections 5.05(a) and (b) shall be deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and (b),
respectively. 
 (b) No Default shall exist, or would result from such proposed Credit Extension or from the application of the proceeds
thereof. 
 (c) The Administrative Agent and, if applicable, the applicable L/C Issuer or the Swing Line Lender shall have received such
applicable Request for Credit Extension in accordance with the requirements hereof. 
 Each Request for Credit Extension (other than a Loan
Notice requesting only a conversion of Loans to the other Type or a continuation of Eurocurrency Rate Loans) submitted by the Borrowers shall be deemed to be a representation and warranty that the conditions specified in Sections 4.02(a) and
(b) have been satisfied on and as of the date of the applicable Credit Extension. 
 ARTICLE V. 

REPRESENTATIONS AND WARRANTIES 

Each Borrower represents and warrants to the Administrative Agent and the Lenders that: 

Section 5.01. Existence, Qualification and Power. Each Loan Party and each of the Restricted Subsidiaries (a) is duly
organized or formed, validly existing and, as applicable, in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental licenses,
authorizations, consents and approvals (i) to own or lease its assets and carry on its business, (ii) [reserved] and (iii) to execute, deliver and perform its obligations under the Loan Documents to which it is a party, and (c) is
duly qualified and is licensed and, as applicable, in good standing under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification or license; except in each case
referred to in clause (b)(i) or (c), to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 

Section 5.02. Authorization; No Contravention. The execution, delivery and performance by each Loan Party of each Loan
Document to which such Person is or is to be a party have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) violate any of such Person’s Organization Documents; (b) result in
the creation of any Lien not permitted by the Loan Documents or violate (i) any material Contractual Obligation to which such Person is a party or by which it or any of its properties is bound or (ii) any order, injunction, writ or decree
of any Governmental Authority or any arbitral award to which such Person or its property is subject; or (c) violate any applicable Law in any material respect. 

  
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 Section 5.03. Governmental Authorization; Other Consents. No approval,
consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is necessary or required in connection with (a) the execution, delivery or performance by, or enforcement
against, any Loan Party of this Agreement or any other Loan Document, (b) the grant by any Loan Party of the Liens granted by it pursuant to the Collateral Documents, (c) the perfection or maintenance of the Liens created under the
Collateral Documents (including the first priority nature thereof, subject to Liens permitted under Section 7.01) or (d) the exercise by the Administrative Agent or any Lender of its rights under the Loan Documents or
the remedies in respect of the Collateral pursuant to the Collateral Documents, except in each case, (i) for the authorizations, approvals, actions, notices and filings which have been duly obtained, taken, given or made and are in full force
and effect and (ii) to the extent that the failure of any approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person to have been duly obtained, taken, given, or
made or to be in full force and effect, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. 

Section 5.04. Binding Effect. This Agreement has been, and each other Loan Document, when delivered hereunder, will have
been, duly executed and delivered by each Loan Party that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of such Loan Party, enforceable against
each Loan Party that is party thereto in accordance with its terms, except as may be limited by any applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting creditors’ rights generally or by general principles of
equity. 
 Section 5.05. Financial Statements; No Material Adverse Effect. 

(a) The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby,
except as otherwise expressly noted therein; (ii) fairly present the financial condition of the predecessor of the US Borrower and the Restricted Subsidiaries as of the date thereof and their results of operations for the period covered thereby
in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of the predecessor of the US
Borrower and the Restricted Subsidiaries as of the date thereof, including liabilities for Taxes, material commitments and Indebtedness that would be required to be disclosed in consolidated financial statements of the US Borrower or the footnotes
thereto prepared in accordance with GAAP. 
 (b) The Unaudited Quarterly Financial Statements (i) were prepared in accordance with GAAP
consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and (ii) fairly present the financial condition of the US Borrower and the Restricted Subsidiaries as of the date thereof and their results
of operations for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments. 

(c) Since the date of the Audited Financial Statements, there has been no event or circumstance, either individually or in the aggregate, that
has had or could reasonably be expected to have a Material Adverse Effect. 

  
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 (d) The consolidated forecasted balance sheet, statements of income and cash flows of the US
Borrower and the Restricted Subsidiaries delivered pursuant to Section 4.01 were prepared in good faith on the basis of the assumptions stated therein, which assumptions were believed to be reasonable in light of the
conditions existing at the time of delivery of such forecasts, and presents fairly in all material respects on a pro forma basis, the estimated consolidated financial position of the US Borrower and its Restricted Subsidiaries as of such date (it
being understood that such forecasts are estimates and are subject to significant uncertainties and contingencies (many of which are beyond the control of the Loan Parties), no assurance can be given that any particular projections will be realized
and actual results may differ and that such differences may be material). 
 Section 5.06. Litigation. There are no
actions, suits, proceedings, claims or disputes pending or, to the knowledge of either Borrower, threatened, at law, in equity, or in arbitration or before any Governmental Authority, by or against either Borrower or any Restricted Subsidiary or
against any of their properties or revenues that (a) purport to affect or pertain to this Agreement or any other Loan Document, (b) [reserved], (c) [reserved] or (d) either individually or in the aggregate, could reasonably be expected to
have a Material Adverse Effect. 
 Section 5.07. No Default. Neither any Loan Party nor any Restricted Subsidiary is in
default under or with respect to any Contractual Obligation that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Default has occurred and is continuing or would result from the
consummation of the transactions contemplated by this Agreement or any other Loan Document. 
 Section 5.08. Title; Etc.

 (a) Each Borrower and each of the Restricted Subsidiaries has good and marketable title to, or valid leasehold or easement interests in,
all of their respective property and assets, including, without limitation, the real property described in each of the Mortgages, as is necessary to operate the Business except for defects that, individually or in the aggregate, do not have a
Material Adverse Effect. None of such property is subject to any Lien, except for Liens permitted by Section 7.01. 

(b) The Terminals are owned in fee simple or are covered by real property leases, or other instruments (collectively “Terminal
Deeds”) in favor of a Borrower or a Restricted Subsidiary. Such ownership or Terminal Deeds permit a Borrower or a Restricted Subsidiary to construct, operate, and maintain the Terminals in, over, under, and across the land covered thereby
in the same way that a prudent owner and operator would inspect, operate, repair, and maintain similar assets and in the same way as the Borrowers or the Restricted Subsidiaries have inspected, operated, repaired, and maintained the Terminals as
reflected in the Audited Financial Statements, subject to Liens permitted under Section 7.01. 
 (c) There has been
no and there is not presently any occurrence of any (i) breach or event of default on the part of either Borrower or any Restricted Subsidiary with respect to any Terminal Deed, (ii) to the knowledge of either Borrower or any Restricted
Subsidiary, breach or event of default on the part of any other party to any Terminal Deed, and (iii) event that, with the giving of notice or lapse of time or both, would constitute such breach or event of default on

  
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the part of either Borrower or any Restricted Subsidiary with respect to any Terminal Deed or, to the knowledge of either Borrower or any Restricted Subsidiary, on the part of any other party
thereto, in each case, to the extent any such breach or default, individually or in the aggregate, (A) materially interferes with the ordinary conduct of Business or (B) has a Material Adverse Effect. The Terminal Deeds (to the extent
applicable) are in full force and effect in all material respects and are valid and enforceable against the parties thereto in accordance with their terms (subject to the effect of any applicable bankruptcy, reorganization, insolvency, moratorium,
fraudulent transfer, fraudulent conveyance or similar laws affecting creditors’ rights generally and subject, as to enforceability, to the effect of general principles of equity and the exceptions as to indefeasibility of title in accordance
with applicable Law) and all rental and other payments due thereunder by either Borrower or any Restricted Subsidiary, and their predecessors in interest have been duly paid in accordance with the terms of the Terminal Deeds, except to the extent
that a failure to do so, individually or in the aggregate, (x) does not materially interfere with the ordinary conduct of Business and (y) does not have a Material Adverse Effect. 

(d) The Terminals are located within the boundaries of the property affected by the Terminal Deeds or certificate of title, as applicable, and
do not encroach upon any adjoining property, except where the failure of the Terminals to be so located, individually or in the aggregate, (i) does not materially interfere with the ordinary conduct of Business and (ii) does not have a
Material Adverse Effect. The buildings and improvements owned or leased by either Borrower or any Restricted Subsidiary, and the operation and maintenance thereof, do not (i) contravene any applicable zoning or building Law or ordinance or
other administrative regulation or (ii) violate any applicable restrictive covenant or any applicable Law, in each case, the contravention or violation of which would materially and adversely affect the use of such buildings and improvements.

 (e) Neither Borrower nor any Restricted Subsidiary has received any written notice that any eminent domain or expropriation proceeding or
taking has been commenced with respect to all or any portion of the Terminals, and, to the knowledge of the Borrowers and the Restricted Subsidiaries, no such proceeding or taking is threatened except, in each case, for that which, individually or
in the aggregate, could not reasonably be expected to have a Material Adverse Effect. 
 (f) To the extent any Terminal or any other Material
Real Property is required to be subject to a Mortgage, (i) no portion of any such Terminal or other Material Real Property is located in an area designated a “special flood hazard area” in any Flood Insurance Rate Map published by the
Federal Emergency Management Agency (or any successor agency), except to the extent (A) the applicable Loan Party has obtained flood insurance in such total amount reasonably satisfactory to the Administrative Agent and as required by
Regulation H of the Federal Reserve Board, as from time to time in effect and all official rulings and interpretations thereunder or thereof or (B) the Mortgage encumbering such Terminals or other Material Real Property contains Exclusionary
Flood Language, as elected by the Administrative Agent (after consultation with the US Borrower) pursuant to Section 6.11(a)(vi)(A)(1), and (ii) such Terminals and other Material Real Property and the applicable
Mortgages are otherwise in compliance with the National Flood Insurance Program as set forth in the Flood Disaster Protection Act of 1973, as it may be amended from time to time, and such other Flood Insurance Laws. 

  
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 (g) As of the Amendment No. 1 Effective Date, all Material Real Property is described
on Schedule 5.08. 
 Section 5.09. Environmental Compliance; Permits. 

(a) The Loan Parties and the Restricted Subsidiaries conduct in the ordinary course of business a review of the effect of existing and proposed
Environmental Laws and known or suspected Environmental Liabilities on their respective businesses, operations and properties, and as a result thereof the Borrowers have reasonably concluded that, except as specifically disclosed in
Schedule 5.09, such Environmental Liabilities could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(b) Except for matters that, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect, the Loan
Parties and the Restricted Subsidiaries are and have been in compliance with all applicable Environmental Laws and are not subject to any pending or, to their knowledge, threatened claim or proceeding relating to Environmental Laws or Hazardous
Materials. 
 (c) Except for matters that, individually or in the aggregate, could not reasonably be expected to have a Material Adverse
Effect, none of the properties currently owned or operated by any Loan Party or any of the Restricted Subsidiaries is listed or proposed for listing on the NPL or on the CERCLIS or any analogous foreign, state, provincial or local list. 

(d) Except for matters that, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect:
(i) neither any Loan Party nor any of the Restricted Subsidiaries is undertaking, and has not completed, either individually or together with other potentially responsible parties, any investigation or assessment or remedial or response action
relating to any actual, threatened, or suspected release, discharge or disposal of Hazardous Materials at any site, location or operation, either voluntarily or pursuant to the order of any Governmental Authority or the requirements of any
Environmental Law; and all Hazardous Materials generated, used, treated, handled or stored at, or transported to or from, any property currently or formerly owned or operated by any Loan Party or any of the Restricted Subsidiaries have been disposed
of in a manner not reasonably expected to result in any Environmental Liability to any Loan Party or any of the Restricted Subsidiaries; and (ii) prior to contributing the applicable Contributed Assets, and with respect to the Contributed
Assets only, neither any Contributing Affiliate nor any of its Subsidiaries had undertaken, and had not completed, either individually or together with other potentially responsible parties, any investigation or assessment or remedial or response
action relating to any actual, threatened, or suspected release, discharge or disposal of Hazardous Materials at any site, location or operation, either voluntarily or pursuant to the order of any Governmental Authority or the requirements of any
Environmental Law; and all Hazardous Materials generated, used, treated, handled or stored at, or transported to or from, any property owned or operated at or prior to the time of the contribution of the applicable Contributed Assets by any
Contributing Affiliate or any of its Subsidiaries were disposed of in a manner not reasonably expected to result in any Environmental Liability to any Contributing Affiliate or any of its Subsidiaries. 

  
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 (e) Except for matters that, individually or in the aggregate, could not reasonably be
expected to have a Material Adverse Effect, (i) each Borrower and each of the Restricted Subsidiaries (A) have obtained all Environmental Permits necessary for the ownership and operation of its real properties and the conduct of its
Business, which are in full force and effect; (B) have been and are in compliance with all terms and conditions of such Environmental Permits; and (C) have not received written notice of any violation or alleged violation of any
Environmental Permit. 
 (f) Notwithstanding any provision of this Agreement to the contrary, the representations and warranties in this
Section 5.09 are the sole and exclusive representations relating to Environmental Liabilities, including compliance with any Environmental Law or Environmental Permit or the use, generation, treatment, storage, disposal,
release or handling of Hazardous Materials. 
 Section 5.10. Insurance. The properties of each Borrower and the
Restricted Subsidiaries are insured with financially sound and reputable insurance companies not Affiliates of either Borrower, in such amounts (after giving effect to any self-insurance compatible with the following standards), with such
deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the applicable Borrower or the applicable Restricted Subsidiary operates. 

Section 5.11. Taxes. The Borrowers and the Restricted Subsidiaries have filed all federal, material state, material
provincial and other Tax returns and reports required to be filed, and have paid all federal, material state, material provincial and other Taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties,
income or assets otherwise due and payable, except those which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP. There is no proposed Tax
assessment against either Borrower or any Restricted Subsidiary that would, individually or in the aggregate, have a Material Adverse Effect. Neither any Loan Party nor any Restricted Subsidiary thereof is party to any Tax sharing agreement.
As of the Closing Date, no Subsidiary of the US Borrower is treated as a CFC for U.S. federal income Tax purposes. 
 Section 5.12.
ERISA Compliance. 
 (a) Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code
and other federal and state Laws. 
 (b) There are no pending or, to the best knowledge of either Borrower, threatened claims, actions or
lawsuits, or action by any Governmental Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or violation of the fiduciary responsibility rules with respect
to any Plan that has resulted or could reasonably be expected to result in a Material Adverse Effect. 

  
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 (c) Except as would not reasonably be expected to result in material liability to a Loan
Party or its Subsidiaries, (i) no ERISA Event has occurred, and neither any Loan Party nor any ERISA Affiliate is aware of any fact, event or circumstance that could reasonably be expected to constitute or result in an ERISA Event with respect
to any Pension Plan; (ii) each Loan Party and each ERISA Affiliate has met all applicable requirements under the Pension Funding Rules in respect of each Pension Plan, and no waiver of the minimum funding standards under the Pension Funding
Rules has been applied for or obtained; (iii) as of the most recent valuation date for any Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is 60% or higher and neither any Loan Party nor
any ERISA Affiliate knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment percentage for any such plan to drop below 60% as of the most recent valuation date; (iv) neither any Loan Party
nor any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; and (vi) no Pension Plan has been terminated by the plan administrator thereof nor by the PBGC, and no event or
circumstance has occurred or exists that could reasonably be expected to cause the PBGC to institute proceedings under Title IV of ERISA to terminate any Pension Plan. 

Section 5.13. Subsidiaries; Equity Interests; Loan Parties. As of the Amendment No. 1 Effective Date, no Loan Party
has any Subsidiaries other than those specifically disclosed in Part (a) of Schedule 5.13, and all of the outstanding Equity Interests in such Subsidiaries have been validly issued, are fully paid and non-assessable and are owned by a Loan Party in the amounts specified on Part (a) of Schedule 5.13 free and clear of all Liens except those created under the Collateral Documents. As
of the Amendment No. 1 Effective Date, no Loan Party has any equity investments in any other corporation or entity other than those specifically disclosed in Part (b) of Schedule 5.13. 

Section 5.14. Margin Regulations; Investment Company Act. 

(a) Neither Borrower is engaged or will engage, principally or as one of its important activities, in the business of purchasing or carrying
margin stock (within the meaning of Regulation U issued by the Relevant Governmental Body), or extending credit for the purpose of purchasing or carrying margin stock. 

(b) No Borrower, any Person Controlling either Borrower, or any Restricted Subsidiary is or is required to be registered as an “investment
company” under the Investment Company Act of 1940. 
 Section 5.15. Disclosure. Each Borrower has disclosed to the
Administrative Agent and the Lenders all agreements, instruments and corporate or other restrictions to which it or any of the Restricted Subsidiaries is subject, and all other matters known to it, that could reasonably be expected to result in a
Material Adverse Effect. No report, financial statement, certificate or other information furnished by or on behalf of any Loan Party to the Administrative Agent or any Lender in connection with the transactions contemplated hereby and the
negotiation of this Agreement or delivered hereunder or under any other Loan Document (in each case, as modified or supplemented by other information so furnished), when taken as a whole, contains any material misstatement of fact or omits to state
any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, estimates, budgets and forward looking
information and other information of a general economic or industry specific nature, the Borrowers represent only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time made (it being understood
that projections are subject to significant uncertainties and contingencies, many of which are beyond the Borrowers’ control, and that no assurance can be given that the projections will be realized). The information included in each Beneficial
Ownership Certification is true and correct in all respects. 

  
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 Section 5.16. Compliance with Laws. Each Loan Party and each Restricted
Subsidiary is in compliance in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order,
writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected to have a Material
Adverse Effect. 
 Section 5.17. Intellectual Property; Licenses, Etc. The Borrowers and the Restricted Subsidiaries own,
or possess the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent rights, franchises, licenses and other intellectual property rights that are reasonably necessary for the operation of their respective
businesses, without conflict with the rights of any other Person, except, in each case, where the failure of the same, either individually or in the aggregate, could not be reasonably be expected to have a Material Adverse Effect. No slogan or other
advertising device, product, process, method, substance, part or other material now employed, or now contemplated to be employed, by either Borrower or any Restricted Subsidiary infringes upon any rights held by any other Person, which
infringements, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 
 Section 5.18.
Sanctions; Anti-Terrorism/Anti-Money Laundering; Anti-Corruption. 
 (a) Neither any Letter of Credit nor any part of the
proceeds of the Loans has been or will be used, directly or indirectly, to fund or finance any activities or business of or with any Sanctioned Person, or in any Sanctioned Country, or in any other manner that would violate any applicable Sanctions,
Anti-Corruption Laws, or Anti-Money Laundering/Anti-Terrorism Laws. Neither any Letter of Credit nor any part of the proceeds of the Loans has been or will be used, directly or indirectly, for any payments to any governmental official or employee,
political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of any Anti-Corruption Law or
any Anti-Money Laundering/Anti-Terrorism Laws. 
 (b) Neither the Borrowers nor any of their Subsidiaries, nor, to the knowledge of the
Borrowers and their Subsidiaries, any director, officer, employee, agent, affiliate or representative thereof, is an individual or entity that is, or is owned or controlled by any individual or entity that is, (i) currently the subject or
target of any Sanctions, (ii) a Sanctioned Person, or (iii) engages in any dealings or transactions with a Sanctioned Person or in a Sanctioned County in violation of applicable Sanctions. 

(c) Each of the Borrowers and each of their Subsidiaries is and has conducted its business in compliance with, and has instituted and
maintained policies and procedures reasonably designed to ensure compliance with, all applicable Sanctions, Anti-Corruption Laws and Anti-Money Laundering/Anti-Terrorism Laws. 

  
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 (d) Neither the Borrowers nor any of their Subsidiaries have received formal notice of an
investigation, inquiry or enforcement proceedings by any governmental, administrative or regulatory body regarding any offense or alleged offense under any Anti-Corruption Laws, Anti-Money Laundering/Anti-Terrorism Laws, or Sanctions, and no such
formal investigation, inquiry or proceeding is pending or, to the knowledge of the Borrowers or any of their Subsidiaries, has been threatened. 

Section 5.19. Solvency. The US Borrower and the Restricted Subsidiaries, on a consolidated basis, are Solvent. 

Section 5.20. Labor Matters. There are no strikes, slowdowns, work stoppages, or controversies pending or, to the knowledge
of either Borrower, threatened against such Borrower or any of the Restricted Subsidiaries which could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 

Section 5.21. Collateral Documents. The provisions of the Collateral Documents are effective to create in favor of the
Administrative Agent for the benefit of the Secured Parties a legal, valid and enforceable Lien on all right, title and interest of the respective Loan Parties in the Collateral described therein, and (i) when the Collateral constituting
certificated securities (as defined in the UCC) is delivered to the Administrative Agent, together with instruments of transfer duly endorsed in blank, the security interest created under the Security Agreement will constitute a fully perfected
security interest in all right, title and interest of the pledgors thereunder in such Collateral, prior and superior in right to any other Person, (ii) when Account Control Agreements with respect to Collateral constituting deposit accounts,
securities accounts, and commodity accounts maintained by the Loan Parties are executed and delivered by the parties thereto, the security interest created under the Security Agreement will constitute a fully perfected security interest in all
right, title and interest of the Loan Parties in such Collateral, prior and superior in right to any other Person, and (iii) when financing statements in appropriate form are filed in the applicable filing offices, the security interest created
under the Security Agreement will constitute a fully perfected security interest in all right, title and interest of the Loan Parties in the remaining Collateral to the extent perfection can be obtained by filing UCC or Personal Property Security
Act financing statements, as applicable, prior and superior to the rights of any other Person, subject, in the case of clauses (i), (ii) and (iii) above, to Liens permitted by Section 7.01. Except for filings completed
prior to the Closing Date and the registration of Mortgages following the Closing Date and/or as contemplated hereby and by the Collateral Documents, no filing or other action will be necessary to perfect such Liens. With respect to (i) any
Luxembourg Law governed share pledge agreement, the registration in the shareholder’s register of the relevant Luxembourg Loan Party whose shares are pledged, and (ii) any Luxembourg Law governed account pledge agreement, the executed
acknowledgement and waiver of rights to be received by the account bank in Luxembourg where the pledged accounts are held, each Luxembourg Security Document constitutes a legal, valid and enforceable Lien on all right title and interest of the
respective Loan Parties in the Collateral described therein prior and superior to the rights of any other Person, subject to Liens permitted by Section 7.01. 

  
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 Section 5.22. State and Federal Regulation. Neither Borrower nor any
Restricted Subsidiary has received notice (formal or informal, public or non-public) by the U.S. Department of Transportation, Transport Canada, the Transportation Safety Board of Canada, the Alberta Ministry
of Transportation or any other Governmental Authority of any pending, threatened or anticipated complaints, investigations, proceedings, enforcement actions or penalty assessments with respect to the alleged failure to comply with any applicable
Law, except as to which the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect. 

Section 5.23. Title to Crude Oil and Refined Products. Neither Borrower nor any Restricted Subsidiary has title to any
material portion of the Crude Oil, Refined Products or other petroleum products that are stored or handled by the business. 

Section 5.24. Representations as to Canadian Borrower and other Foreign Obligors. 

(a) Each Foreign Obligor is subject to civil and commercial Laws with respect to its obligations under this Agreement and the other Loan
Documents to which it is a party (collectively as to such Foreign Obligor, the “Applicable Foreign Obligor Documents”), and the execution, delivery and performance by such Foreign Obligor of the Applicable Foreign Obligor Documents
constitute and will constitute private and commercial acts and not public or governmental acts. Neither such Foreign Obligor nor any of its property has any immunity from jurisdiction of any court or from any legal process (whether through service
or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) under the laws of the jurisdiction in which such Foreign Obligor is organized and existing in respect of its obligations under the Applicable Foreign
Obligor Documents. 
 (b) The Applicable Foreign Obligor Documents are in proper legal form under the Laws of the jurisdiction in which such
Foreign Obligor is organized and existing for the enforcement thereof against such Foreign Obligor under the Laws of such jurisdiction, and to ensure the legality, validity, enforceability, priority or admissibility in evidence of the Applicable
Foreign Obligor Documents. It is not necessary to ensure the legality, validity, enforceability, priority or admissibility in evidence of the Applicable Foreign Obligor Documents that the Applicable Foreign Obligor Documents be filed, registered or
recorded with, or executed or notarized before, any court or other authority in the jurisdiction in which such Foreign Obligor is organized and existing or that any registration charge or stamp or similar tax be paid on or in respect of the
Applicable Foreign Obligor Documents or any other document, except for (i) any such filing, registration, recording, execution or notarization as has been made or is not required to be made until the Applicable Foreign Obligor Document or any
other document is sought to be enforced and (ii) any charge or Tax as has been timely paid. 
 (c) Subject to the application of the
RELIBI Law and the Registration Tax Exception, there is no Tax, levy, impost, duty, fee, assessment or other governmental charge, or any deduction or withholding, imposed by any Governmental Authority in or of the jurisdiction in which such Foreign
Obligor is organized and existing either (i) on or by virtue of the execution or delivery of the Applicable Foreign Obligor Documents or (ii) on any payment to be made by such Foreign Obligor pursuant to the Applicable Foreign Obligor
Documents, except as has been disclosed to the Administrative Agent. 

  
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 (d) The execution, delivery and performance of the Applicable Foreign Obligor Documents
executed by such Foreign Obligor are, under applicable foreign exchange control regulations of the jurisdiction in which such Foreign Obligor is organized and existing, not subject to any notification or authorization except (i) such as have
been made or obtained or (ii) such as cannot be made or obtained until a later date (provided that any notification or authorization described in clause (ii) shall be made or obtained as soon as is reasonably practicable). 

(e) Except as, in the aggregate, could not reasonably be expected to have a Material Adverse Effect, (i) all employer and employee
contributions required by applicable Law or by the terms of any Foreign Plan have been made, or, if applicable, accrued in accordance with normal accounting practices; (ii) the accrued benefit obligations of each Foreign Plan (based on those
assumptions used to fund such Foreign Plan) with respect to all current and former participants do not exceed the assets of such Foreign Plan; (iii) each Foreign Plan that is required to be registered has been registered and has been maintained
in good standing with applicable Governmental Authority; and (iv) each such Foreign Plan is in compliance (A) with all material provisions of applicable Law and all material applicable regulations and published interpretations thereunder
with respect to such Foreign Plan and (B) with the terms of such plan.  

Section 5.25. Material Contracts. Set forth on Schedule 5.25 hereto is a complete and correct list, as of the
Amendment No. 1 Effective Date, of all Material Contracts. The US Borrower has heretofore (including pursuant to the Existing Credit Agreement) delivered (or made available) to the Administrative Agent and the Lenders a complete and correct
copy of all documentation evidencing all such Material Contracts, including any modifications or supplements thereto, as in effect on the Closing Date. As of the Closing Date, there exists no material default or event of default, or circumstance
which with the giving of notice or lapse of time or both would give rise to a default, under any Material Contract by any Borrower or Restricted Subsidiary, or to any Borrower’s knowledge, by any of the other parties thereto. 

Section 5.26. Use of Proceeds. The proceeds of any Credit Extension shall be used for (a) working capital,
(b) general corporate and partnership purposes, and (c) to refinance and continue Indebtedness outstanding under the Existing Credit Agreement, in each case, not in contravention of any Law or any Loan Document. 

Section 5.27. Affected Financial Institution. Neither of the Borrowers nor any Subsidiary of either Borrower is an Affected
Financial Institution. 
 ARTICLE VI. 

AFFIRMATIVE COVENANTS 
 So
long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, each Borrower shall, and shall (except in the case of the covenants
set forth in Sections 6.01, 6.02, 6.03 and 6.11) cause each Restricted Subsidiary to: 

  
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 Section 6.01. Financial Statements. Deliver to the Administrative Agent
for further distribution to each Lender: 
 (a) by the date required to be delivered to the SEC (or such date as may be extended by the SEC),
but in any event within 90 days after the end of each fiscal year of the US Borrower, a consolidated balance sheet of the US Borrower and the Restricted Subsidiaries as at the end of such fiscal year, and the related consolidated statements of
income or operations, changes in partners’ capital, retained earnings and cash flows for such fiscal year, setting forth in each case in comparative form, and to the extent available, the figures for the previous fiscal year, all in reasonable
detail and prepared in accordance with GAAP, such consolidated statements to be audited and accompanied by a report and opinion of an independent certified public accountant of nationally recognized standing reasonably acceptable to the Required
Lenders, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the
scope of such audit (other than an exception or explanatory paragraph with respect to the maturity of the Facility for an opinion delivered in the fiscal year in which such Indebtedness matures); 

(b) beginning with the fiscal quarter ended September 30, 2018, by the date required to be delivered to the SEC (or such date as may be
extended by the SEC), but in any event within 45 days after the end of each of the first three fiscal quarters of each fiscal year of the US Borrower, a consolidated balance sheet of the US Borrower and the Restricted Subsidiaries as at the end of
such fiscal quarter, and the related consolidated statements of income or operations, changes in partners’ capital, retained earnings and cash flows for such fiscal quarter and for the portion of the US Borrower’s fiscal year then ended,
setting forth in each case in comparative form, and to the extent available, the figures for the corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal year, all in reasonable detail, such
consolidated statements to be certified by a Financial Officer of the US Borrower as fairly presenting the financial condition, results of operations, partners’ capital, retained earnings and cash flows of the US Borrower and the Restricted
Subsidiaries in accordance with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes. 

Section 6.02. Certificates; Other Information. Deliver to the Administrative Agent: 

(a) concurrently with the delivery of the financial statements referred to in Section 6.01(a), a certificate of its
independent certified public accountants certifying such financial statements and stating that in making the examination necessary therefor no knowledge was obtained of any Default under the financial covenants set forth herein or, if any such
Default shall exist, stating the nature and status of such event; 
 (b) concurrently with the delivery of the financial statements referred
to in Sections 6.01(a) and (b), a duly completed Compliance Certificate signed by a Financial Officer of the US Borrower (which delivery may, unless the Administrative Agent, or a Lender requests executed originals, be by electronic
communication including fax or email and shall be deemed to be an original authentic counterpart thereof for all purposes); 

  
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 (c) promptly after any request by the Administrative Agent or any Lender, copies of any
detailed audit reports, management letters or recommendations submitted to the board of directors (or the audit committee of the board of directors) of any Loan Party by independent accountants in connection with the accounts or books of any Loan
Party or any of its Subsidiaries, or any audit of any of them; 
 (d) promptly after the same are available, copies of each annual report,
proxy or financial statement or other report or communication sent to the stockholders, partners or members (or the equivalent of any thereof) of any Loan Party, and copies of all annual, regular, periodic and special reports and registration
statements which either Borrower or any of its Subsidiaries may file or be required to file with the SEC under Section 13 or 15(d) of the Exchange Act, or with any national securities exchange, and in any case not otherwise required to be
delivered to the Administrative Agent pursuant hereto; 
 (e) promptly after the furnishing thereof, copies of any statement or report
furnished to any holder of debt securities of any Loan Party or any Restricted Subsidiary pursuant to the terms of any indenture, loan or credit or similar agreement regarding or related to any breach or default by any party thereto or any other
event that could materially impair the value of the interests or the rights of any Loan Party or otherwise have a Material Adverse Effect and not otherwise required to be furnished to the Lenders pursuant to Section 6.01 or
any other clause of this Section 6.02; 
 (f) as soon as available, but in any event within 30 days after each
annual renewal of the applicable insurance policies, a certificate summarizing the insurance coverage (specifying type, amount and carrier) in effect for each Borrower and the Restricted Subsidiaries and such additional information regarding such
insurance coverage as the Administrative Agent, or any Lender through the Administrative Agent, may reasonably specify; 
 (g) promptly, and
in any event within five Business Days after receipt thereof by any Loan Party or any Restricted Subsidiary thereof, copies of each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any material investigation or other material inquiry by such agency regarding financial or other operational results of any Loan Party or any Restricted Subsidiary; 

(h) promptly after the assertion or occurrence thereof, notice of any action or proceeding against or of any noncompliance by any Loan Party or
any of the Restricted Subsidiaries with any Environmental Law or Environmental Permit or any action, investigation or proceeding relating to Hazardous Materials that could reasonably be expected to have a Material Adverse Effect; 

(i) promptly and in any event within five Business Days after receipt thereof by either Borrower or any Restricted Subsidiary, a copy of any
notice, summons, citation, proceeding or order received from any Governmental Authority concerning the regulation of any portion of the Business that could reasonably be expected to have a Material Adverse Effect; 

(j) if the US Borrower elects to have a Specified Acquisition Period apply with respect to a Specified Acquisition, written notice of such
election (or of the applicable Specified Acquisition) at least 10 days (or such lesser time as the Administrative Agent may agree) prior to the date of delivery of the first Compliance Certificate that evidences the existence of such Specified
Acquisition Period; and 

  
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 (k) promptly (i) such additional information regarding the business, financial, legal
or corporate affairs of any Loan Party or any Restricted Subsidiary, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender may from time to time reasonably request and (ii) information and documentation
requested pursuant to Section 11.19 and for purposes of compliance with other applicable “know your customer” and anti-money laundering rules and regulations, including the Beneficial Ownership Regulation, as the
Administrative Agent or any Lender may from time to time reasonably request. 
 Documents required to be delivered pursuant to
Section 6.01(a) or (b) or Section 6.02(d) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered,
shall be deemed to have been delivered on the date (i) on which the US Borrower posts such documents, or provides a link thereto on the US Borrower’s website on the Internet at the website address listed on
Schedule 11.02; or (ii) on which such documents are posted on the US Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a
commercial, third-party website or whether sponsored by the Administrative Agent); provided that: (i) the Borrowers shall deliver paper copies of such documents to the Administrative Agent or any Lender upon its request to the Borrowers
to deliver such paper copies. The Administrative Agent shall have no obligation to request the delivery of or to maintain paper copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the
Borrowers with any such request by a Lender for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 

Each Borrower hereby acknowledges that (a) the Administrative Agent and/or the Joint Lead Arrangers may, but shall not be obligated to,
make available to the Lenders and the L/C Issuers materials and/or information provided by or on behalf of the Borrowers hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on DebtDomain, IntraLinks,
Syndtrak, ClearPar, 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 either Borrower or its respective 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. Each 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 Borrowers shall be deemed to have authorized the Administrative Agent, the
Joint Lead Arrangers, the L/C Issuers and the Lenders to treat such Borrower Materials as not containing any material non-public information with respect to either Borrower or its respective 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 Section 11.07); (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 Joint Lead 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 not designated “Public Side Information”. 

  
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 Section 6.03. Notices. Promptly notify the Administrative Agent: 

(a) of the occurrence of any Default; 

(b) of any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect; 

(c) of the occurrence of any ERISA Event that would reasonably be expected to result in material liability to any Loan Party or its
Subsidiaries; and 
 (d) of any material change in accounting policies or financial reporting practices by any Loan Party or any Restricted
Subsidiary thereof, including any determination by the US Borrower referred to in Section 2.10(b). 
 Each notice
pursuant to this Section 6.03 shall be accompanied by a statement of a Responsible Officer of the US Borrower setting forth details of the occurrence referred to therein and stating what action such Borrower has taken and
proposes to take with respect thereto. Each notice pursuant to Section 6.03(a) shall describe with particularity any and all provisions of this Agreement and any other Loan Document that have been breached. 

Section 6.04. Payment of Obligations. Pay and discharge as the same shall become due and payable, all its obligations and
liabilities, including (a) all material Tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently conducted and
adequate reserves in accordance with GAAP are being maintained by such Borrower or such Restricted Subsidiary; (b) all lawful claims which, if unpaid, would by Law become a Lien upon its property; and (c) all Indebtedness, as and when due
and payable, but subject to any subordination provisions contained in any instrument or agreement evidencing such Indebtedness, except in each case of clause (b) and (c) to the extent the failure to do so could not reasonably be expected to
result in a Material Adverse Effect. 
 Section 6.05. Preservation of Existence, Etc. 

(a) Preserve, renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its
organization except in a transaction permitted by Section 7.04 or 7.05; and 
 (b) Take all reasonable
action to maintain all rights, privileges, permits, licenses (including intellectual property licenses) and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be
expected to have a Material Adverse Effect. 

  
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 Section 6.06. Maintenance of Properties. 

(a) Except where the failure to do so could not reasonably be expected to have a Material Adverse Effect, (i) maintain, preserve and
protect all of its properties and equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear excepted, in accordance with the standard of care typical in the industry; and (ii) make, or
cause to be made, all necessary repairs thereto and renewals and replacements thereof in accordance with the standard of care typical in the industry. 

(b) Without limiting Section 6.06(a), (i) maintain or cause the maintenance of the interests and rights which are
necessary to maintain the Terminals, which individually or in the aggregate, could, if not maintained, reasonably be expected to have a Material Adverse Effect; (ii) subject to Liens permitted under Section 7.01,
maintain the Terminals within the boundaries of the Terminal Deeds and without encroachment upon any adjoining property, except where the failure of the Terminals to be so maintained, individually or in the aggregate, (A) does not materially
interfere with the ordinary conduct of Business, (B) does not materially detract from the use of the Terminals, taken as a whole and (C) could not reasonably be expected to have a Material Adverse Effect; (iii) maintain such rights of
ingress and egress necessary to permit the Borrowers and the Restricted Subsidiaries to inspect, operate, repair, and maintain the Terminals to the extent that failure to maintain such rights, individually or in the aggregate, could reasonably be
expected to have a Material Adverse Effect and provided that either Borrower or any of the Restricted Subsidiaries may hire third parties to perform these functions; and (iv) maintain all material agreements, licenses, permits, and other
rights required for any of the foregoing described in clauses (i), (ii), and (iii) of this Section 6.06(b) in full force and effect in accordance with their terms, timely make any payments due thereunder, and prevent
any default thereunder which could result in a termination or loss thereof, except any such failure to maintain or pay or any such default that could not reasonably, individually or in the aggregate, be expected to cause a Material Adverse Effect.

 Section 6.07. Maintenance of Insurance. Maintain with financially sound and reputable insurance companies not
Affiliates of either Borrower, insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and in such amounts (after giving
effect to any self-insurance compatible with the following standards) as are customarily carried under similar circumstances by such other Persons and providing for not less than 30 days’ prior notice to the Administrative Agent of termination,
lapse or cancellation of such insurance. If at any time the area in which any real property constituting, or that is required to become, Mortgaged Property is designated a “special flood hazard area” in any Flood Insurance Rate Map
published by the Federal Emergency Management Agency (or any successor agency) as indicated in any applicable flood certificate, the US Borrower (unless such applicable Mortgage includes Exclusionary Flood Language as elected by the Administrative
Agent (after consultation with the US Borrower) pursuant to Section 6.11(a)(vi)(A)(1)) shall, and shall cause each of its Restricted Subsidiaries to, obtain flood insurance in such total amount as required by Regulation H
of the Federal Reserve Board, as from time to time in effect and all official rulings and interpretations thereunder or thereof, and otherwise comply with the National Flood Insurance Program as set forth in the Flood Disaster Protection Act of
1973, as it may be amended from time to time, and such other applicable Flood Insurance Laws; provided that, to the extent such applicable Loan Party fails to obtain or maintain satisfactory flood insurance required pursuant to this
Section 6.07 with respect to any Mortgaged Property, the Administrative Agent shall be permitted, in its reasonable discretion, to obtain forced placed insurance at the Borrowers’ expense to ensure compliance with any
applicable Flood Insurance Laws. 

  
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 Section 6.08. Compliance with Laws. Comply in all material respects with
the requirements of all applicable Laws (including, without limitation, Anti-Corruption Laws and Anti-Money Laundering/Anti-Terrorism Laws) and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in
such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted; or (b) the failure to comply therewith could not reasonably be
expected to have a Material Adverse Effect. 
 Section 6.09. Books and Records. Maintain proper books of record and
account, in which full, true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions and matters involving the assets and business of each Borrower or such Subsidiary, as the case may be. 

Section 6.10. Inspection Rights. Permit representatives and independent contractors of the Administrative Agent and each
Lender to visit and inspect any of its properties once per calendar year, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its
directors, officers, and independent public accountants (provided that the Borrowers will be afforded a reasonable opportunity to be present during such discussions), all at the expense of the Borrowers and at such reasonable times during normal
business hours, upon reasonable advance notice to the Borrowers; provided, however, that when an Event of Default exists the Administrative Agent or any Lender (or any of their respective representatives or independent contractors) may do any
of the foregoing at the expense of the Borrowers at any time during normal business hours and without advance notice and as many times during any calendar year as such Administrative Agent or Lender shall so request. The Administrative Agent and
each Lender shall conduct any such inspection or examination (i) in reasonable accordance with the applicable Borrower’s or the applicable Restricted Subsidiary’s safety policies and procedures and (ii) so as not to unreasonably
materially interfere with the Borrowers’ or the Restricted Subsidiaries’ operations. 
 Section 6.11. Covenant to
Guarantee Obligations and Give Security. 
 (a) Upon the formation or acquisition of any new direct or indirect Restricted
Subsidiary, including any Unrestricted Subsidiary ceasing to be an Unrestricted Subsidiary, but excluding any Excluded Subsidiary (except with respect to Section 6.11(a)(iii)), then the Borrowers shall, at the
Borrowers’ expense: 
 (i) within 30 days (or such longer period as the Administrative Agent may determine in its sole
discretion) after such formation or acquisition, cause such Restricted Subsidiary, to duly execute and deliver to the Administrative Agent a guaranty or guaranty supplement, in form and substance reasonably satisfactory to the Administrative Agent,
guaranteeing the other Loan Parties’ obligations under the Loan Documents, 

  
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 (ii) within 30 days (or such longer period as the Administrative Agent may
determine in its sole discretion) after such formation or acquisition, cause such Restricted Subsidiary to duly execute and deliver to the Administrative Agent Security Agreement Supplements, IP Security Agreement Supplements, Account Control
Agreements, and other security and pledge agreements (including a Canadian Debenture and Canadian Debenture Pledge Agreement if such Restricted Subsidiary is a Canadian Loan Party and in the case of any other Foreign Obligor or any Subsidiary that
holds shares in any Foreign Obligor, foreign charges, pledges and security agreements), as specified by and in form and substance reasonably satisfactory to the Administrative Agent (including delivery of all Pledged Equity in and of such Restricted
Subsidiary, and other instruments of the type specified in Section 4.01(a)(vi)), securing payment of all the Obligations and constituting Liens on all such personal properties and any Material Real Property located in
Canada pursuant to a Canadian Debenture, 
 (iii) within 30 days (or such longer period as the Administrative Agent may
determine in its sole discretion) cause each direct or indirect parent of such Restricted Subsidiary to duly execute and deliver to the Administrative Agent any Security Agreement Supplements and pledge agreements or supplements to evidence the
pledge of such parent’s Equity Interests as required by the Security Agreement in such Restricted Subsidiary (including the delivery of the Pledged Equity required by the Security Agreement and other instruments of the type specified in
Section 4.01(a)(vi) and if such Restricted Subsidiary is organized under the laws of Canada, Section 4.01(a)(vii)), 

(iv) within 30 days (or such longer period as the Administrative Agent may determine in its sole discretion) after such
formation or acquisition, cause such Restricted Subsidiary to take whatever action (including the filing of Uniform Commercial Code and Personal Property Security Act financing statements) may be necessary or advisable in the reasonable opinion of
the Administrative Agent to vest in the Administrative Agent (or in any representative of the Administrative Agent designated by it) valid and subsisting Liens on the properties purported to be subject to Security Agreement Supplements, IP Security
Agreement Supplements, Account Control Agreements, and security and pledge agreements delivered pursuant to this Section 6.11, enforceable against all third parties in accordance with their terms, 

(v) within 60 days (or such longer period as the Administrative Agent may determine in its sole discretion) after such
formation or acquisition, deliver to the Administrative Agent, upon the request of the Administrative Agent in its sole but reasonable discretion, a signed copy of a favorable opinion, addressed to the Administrative Agent and the other Secured
Parties, of counsel for the Loan Parties reasonably acceptable to the Administrative Agent as to the matters contained in clauses (i), (iii) and (iv) above, and as to such other matters as the Administrative Agent may reasonably request, and

 (vi) within 60 days (or such longer period as the Administrative Agent may determine in its sole discretion) after such
formation or acquisition of a Subsidiary that owns or leases Material Real Property, deliver to the Administrative Agent with respect to any Material Real Property owned or leased by such Restricted Subsidiary: 

  
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 (A) Mortgages (or to the extent such Material Real Property is located in a non-U.S. jurisdiction other than Canada, such other applicable documents and instruments as set forth in Section 6.11(a)(ii)), duly executed by the appropriate Loan Party, together with:

 (1) evidence that counterparts of the Mortgages have been duly executed, acknowledged and delivered and are in form
suitable for filing, recording or registration in all filing, recording or registration offices that the Administrative Agent may deem necessary or reasonably desirable in order to create a valid first and subsisting Lien on the property (subject to
Liens permitted under the Loan Documents) described therein in favor of the Administrative Agent for the benefit of the Secured Parties (provided that the Administrative Agent may, in its reasonable discretion (after consultation with the US
Borrower), elect to include Exclusionary Flood Language in such Mortgage if the Administrative Agent determines, in its reasonable discretion, that the cost of obtaining and perfecting a security interest in Buildings (as defined in the applicable
Flood Insurance Laws) or Manufactured (Mobile) Homes (as defined in the applicable Flood Insurance Laws) on such property (including the cost of flood insurance) is excessive in relation to the value of the Lien to be afforded thereby), duly
executed and acknowledged by the appropriate Loan Party, together with evidence that all filing, documentary, stamp, intangible and recording and registration taxes and fees have been paid (or arrangements therefor satisfactory to the Administrative
Agent have been made), 
 (2) for any Material Real Property not located in Canada or any province thereof, a fully paid
American Land Title Association Lender’s Extended Coverage title insurance policies as may be reasonably required by the Administrative Agent for assets of a type for which title insurance is customarily obtained, with endorsements and in
amounts reasonably acceptable to the Administrative Agent, issued, coinsured and reinsured by one or more title insurers reasonably acceptable to the Administrative Agent, insuring the Mortgages to be valid first and subsisting Liens on the property
described therein, free and clear of all defects and encumbrances, excepting only Liens permitted under Section 7.01 and other Liens permitted under the Loan Documents; provided however that such title insurance policy may
include such general mechanics’ lien exceptions as the title insurer(s) may require, so long as such title insurance policy does not include a title exception identifying any specifically recorded mechanics’ lien that does not constitute a
Lien permitted under Section 7.01, 
 (3) evidence of the insurance required by
Section 6.07, including, without limitation, applicable flood insurance, 

  
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 (4) for any Material Real Property other than Material Real Property
located in Canada, any province thereof, or any other jurisdiction where such would not be required by applicable Law, a completed “Life-of-Loan” flood
determination certificate issued by the appropriate Governmental Authority or third party indicating whether such Material Real Property is located in an area designated as a “special flood hazard area” in any Flood Insurance Rate Map
published by the Federal Emergency Management Agency (or any successor agency) (together with a notice about special flood hazard area status and flood disaster assistance duly executed by the applicable Borrower and each other Loan Party relating
thereto, to the extent requested by the Administrative Agent), and 
 (5) evidence that all other action that the
Administrative Agent may reasonably deem necessary or desirable in order to create valid first and subsisting Liens on the property described in the Mortgages has been taken; 

(6) opinions of local counsel for the Loan Parties in states or provinces in which the Mortgaged Properties are located, with
respect to the enforceability and validity of, and perfection or constructive notice by, the Mortgages delivered pursuant to this Section 6.11 and any related fixture filings or notices in form and substance reasonably satisfactory to the
Administrative Agent, and 
 (B) the existing and most current title reports, surveys and engineering, soils and other
reports, and environmental assessment reports obtained by either Borrower or any Restricted Subsidiary in connection with the formation or acquisition of that Restricted Subsidiary. 

(b) Upon the acquisition of any personal property (other than Excluded Property, and only to the extent not inconsistent with the terms of the
Collateral Documents) or Material Real Property by a Borrower or any Restricted Subsidiary (other than an Excluded Subsidiary), if such property, in the reasonable judgment of the Administrative Agent, shall not already be subject to a perfected
first priority security interest in favor of the Administrative Agent for the benefit of the Secured Parties, then the Borrowers shall, at the Borrowers’ expense: 

(i) within 30 days (or such longer period as the Administrative Agent may determine in its sole discretion) after such
acquisition, cause the applicable Loan Party to duly execute and deliver to the Administrative Agent Security Agreement Supplements, IP Security Agreement Supplements, Account Control Agreements, and other security and pledge agreements, as
specified by and in form and substance reasonably satisfactory to the Administrative Agent, securing payment of all the Obligations of the applicable Loan Party under the Loan Documents and constituting Liens on all such personal properties, 

(ii) within 30 days (or such longer period as the Administrative Agent may determine in its sole discretion) after such
acquisition, cause the applicable Loan Party to take whatever action (including the filing of applicable Uniform Commercial Code and Personal Property Security Act financing statements) may be necessary or advisable in the reasonable opinion of the
Administrative Agent to vest in the Administrative Agent (or in any representative of the Administrative Agent designated by it) valid and subsisting Liens on such personal property, enforceable against all third parties, 

  
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 (iii) within 60 days (or such longer period as the Administrative Agent may
determine in its sole discretion) after such acquisition, deliver to the Administrative Agent, upon the reasonable request of the Administrative Agent in its sole but reasonable discretion, a signed copy of a favorable opinion, addressed to the
Administrative Agent and the other Secured Parties, of counsel for the Loan Parties reasonably acceptable to the Administrative Agent as to the matters contained in clauses (i) and (ii) above and as to such other matters as the Administrative
Agent may reasonably request, and 
 (iv) within 30 days (or such longer period as the Administrative Agent may determine in
its sole discretion) after such acquisition of Material Real Property, deliver to the Administrative Agent with respect to such Material Real Property (A) documentation of the type set forth in Section 6.11(a)(vi)(A),
and (B) the existing and most current title reports, surveys and engineering, soils and other reports, and environmental assessment reports obtained by either Borrower or any Restricted Subsidiary in connection with the acquisition of that
Material Real Property. 
 Section 6.12. Compliance with Environmental Laws. 

(a) Except for matters that, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect, comply, and
cause all lessees and other Persons operating or occupying its properties to comply, with all applicable Environmental Laws and Environmental Permits, and obtain and renew all Environmental Permits necessary for its operations and properties. 

(b) Except for matters that, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect, to the
extent required by Governmental Authority, conduct any investigation, study, sampling and testing, and undertake any cleanup, removal, remedial or other action necessary to remove and clean up Hazardous Materials from any of its properties, in
compliance with the requirements of such Governmental Authority; provided, however, that neither Borrower nor any of the Restricted Subsidiaries shall be required to undertake any such cleanup, removal, remedial or other action to the
extent that its obligation to do so is being contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP. 

Section 6.13. Further Assurances. 

(a) Promptly upon request by the Administrative Agent or the Required Lenders through the Administrative Agent, (a) correct any material
defect or error that may be discovered in any Loan Document or in the execution, acknowledgment, filing or recordation thereof, and (b) do, execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such further acts, deeds, certificates, assurances and other instruments as the Administrative Agent, or any Lender through the
Administrative Agent, may reasonably require from time to time in order to (i) carry out more effectively the purposes of the Loan Documents, (ii) to the fullest extent permitted by applicable Law, subject any Loan Party’s or any of
the 

  
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Restricted Subsidiaries’ properties, assets, rights or interests to the Liens now or hereafter intended to be covered by any of the Collateral Documents, (iii) perfect and maintain the
validity, effectiveness and priority of any of the Collateral Documents and any of the Liens intended to be created thereunder and (iv) assure, convey, grant, assign, transfer, preserve, protect and confirm more effectively unto the Secured
Parties the rights granted or now or hereafter intended to be granted to the Secured Parties under any Loan Document or under any other instrument executed in connection with any Loan Document to which any Loan Party or any of the Restricted
Subsidiaries is or is to be a party, and cause each of the Restricted Subsidiaries to do so. 
 (b) Within 30 days (or such longer period as
the Administrative Agent may determine in its sole discretion) after a request by the Administrative Agent or the Required Lenders to cure any title defects or exceptions which are not Liens permitted by Section 7.01 and
which, individually or in the aggregate, (i) materially interfere with the ordinary conduct of Business, (ii) materially detract from the value or the use of the Collateral affected thereby, or (iii) could reasonably have a Material
Adverse Effect, at the US Borrower’s option, either cure such title defects or exceptions or substitute such Collateral with acceptable property of an equivalent value with no Liens that are not permitted by
Section 7.01. 
 Section 6.14. Material Contracts. Perform and observe all the terms and
provisions of each Material Contract to be performed or observed by it, maintain each such Material Contract in full force and effect, enforce each such Material Contract in accordance with its terms, take all action to such end as may be from time
to time requested by the Administrative Agent and, upon the request of the Administrative Agent, make to each other party to each such Material Contract such demands and requests for information and reports or for action as any Loan Party or any of
the Restricted Subsidiaries is entitled to make under such Material Contract, and cause each of the Restricted Subsidiaries to do so, except, in any case, where the failure to do so, either individually or in the aggregate, could not be reasonably
likely to have a Material Adverse Effect. 
 Section 6.15. Designation and Conversion of Restricted and Unrestricted
Subsidiaries. 
 (a) Unless designated after the Closing Date in writing to the Administrative Agent pursuant to this Section, any
Person that becomes a Subsidiary of the US Borrower or any of the Restricted Subsidiaries shall be classified as a Restricted Subsidiary. 

(b) The US Borrower may designate a Subsidiary as an Unrestricted Subsidiary if (i) immediately before and after such designation, no
Default or Event of Default exists or would exist, (ii) after giving effect to such designation on a pro forma basis, the US Borrower and the Restricted Subsidiaries would have been in compliance with Sections 7.11(a), 7.11(b),
and 7.11(c) as of the end of the most recent fiscal quarter; and (iii) no Subsidiary may be designated as an Unrestricted Subsidiary if it will be treated as a “restricted subsidiary” for purposes of any Indebtedness of the US
Borrower or any Restricted Subsidiary. 

  
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 (c) The US Borrower may designate an Unrestricted Subsidiary to be a Restricted Subsidiary
if after giving effect to such designation, (i) immediately before and after such designation, no Default or Event of Default exists or would exist and (ii) after giving effect to such designation on a pro forma basis, the US Borrower and
its Subsidiaries would have been in compliance with Sections 7.11(a), 7.11(b), and 7.11(c) as of the end of the most recent fiscal quarter. 

(d) All Subsidiaries of an Unrestricted Subsidiary shall be also Unrestricted Subsidiaries. The US Borrower will not permit any Unrestricted
Subsidiary to hold any Equity Interests in, or any Indebtedness of, any Restricted Subsidiary. 
 (e) The designation of any Subsidiary as an
Unrestricted Subsidiary shall constitute an Investment in such Unrestricted Subsidiary at the date of designation in an amount equal to the fair market value of the applicable Loan Party’s investment therein. The designation of any Unrestricted
Subsidiary as a Restricted Subsidiary shall constitute the incurrence at the time of designation of any Indebtedness or Liens of such Subsidiary existing at such time. 

Section 6.16. Account Control Agreements. On and after the Closing Date (and to the extent not previously delivered
(including pursuant to the Existing Credit Agreement) with respect to deposit accounts, securities accounts, and commodity accounts existing as of the Closing Date), the Borrowers shall cause each deposit account, securities account, and commodity
account (other than the Excluded Account) of any Borrower or any other Loan Party to be subject to an Account Control Agreement that creates and perfects a first perfected Lien in favor of the Administrative Agent in such account; provided
that this Section 6.16 shall not apply to (i) any deposit account exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees,
(ii) any trust, fiduciary or escrow accounts exclusively containing funds owned or held in trust for another party that is held in the name of a Loan Party, and (iii) any deposit account, securities account, or commodity account holding
funds not exceeding $2,000,000 (excluding any funds in the Excluded Account) in the aggregate in all such accounts not subject to Account Control Agreements. 

Section 6.17. Post-Closing Covenant. 

(a) The US Borrower shall deliver to the Administrative Agent within 2 Business Days after the Closing Date (or such longer period as the
Administrative Agent may agree in its sole discretion), with respect to the Luxembourg Security Confirmation, a copy of the shareholders’ register of each Luxembourg Loan Party evidencing the registration of the Luxembourg Security
Confirmation. 
 (b) The US Borrower shall deliver to the Administrative Agent within 2 Business Days after the Amendment No. 1
Effective Date (or such longer period as the Administrative Agent may agree in its sole discretion), with respect to the Luxembourg Security Assignment and Confirmation, a copy of the shareholders’ register of each Luxembourg Loan Party
evidencing the registration of the Luxembourg Security Assignment and Confirmation. 
 (c) The US Borrower shall deliver to the
Administrative Agent within 1 Business Day after the Amendment No. 1 Effective Date (or such longer time period as the Administrative Agent may agree), confirmation that each Notice of Change of Collateral Agent (as defined in the Luxembourg
Security Assignment and Confirmation) has been sent to each “Account Bank” as defined in the Luxembourg Account Pledge Agreements. 

  
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 (d) The US Borrower shall use commercially reasonable efforts to deliver within thirty
(30) days after the Amendment No. 1 Effective Date (or such longer time period as the Administrative Agent may agree) a duly executed estoppel certificate, in form and substance reasonably satisfactory to the Administrative Agent, with
respect to the leasehold interest encumbered by the Mortgage (as amended, reaffirmed, and assigned) filed in Natrona County, Wyoming under instrument no. 1010227. 

(e) The US Borrower shall use commercially reasonable efforts to cause to be delivered to the Administrative Agent within thirty (30) days
after the Amendment No. 1 Effective Date (or such longer time period as the Administrative Agent may agree) a revised modification endorsement and a revised change of effective date endorsement with respect to the lender’s title insurance
policy covering the Mortgage (as amended, reaffirmed, and assigned) filed in Natrona County, Wyoming under instrument no. 1010227, which reflect the removal of any exception related to the estoppel certificate to be delivered pursuant to clause
(d) above and are otherwise in form and substance reasonably satisfactory to the Administrative Agent. 
 (f) The US Borrower shall
deliver to the Administrative Agent within fourteen (14) days after the Amendment No. 1 Effective Date (or such longer time period as the Administrative Agent may agree) (i) a certificate of insurance with respect to the property
insurance policy of the Canadian Borrower, (ii) a lender loss payee endorsement and 30-day notice of cancellation endorsement with respect to the property insurance policy of the Canadian Borrower, and
(iii) an Additional Insured endorsement with respect to the general liability insurance policy of the Canadian Borrower, in each case in form and substance reasonably satisfactory to the Administrative Agent. 

ARTICLE VII. 
 NEGATIVE
COVENANTS 
 So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or
unsatisfied, or any Letter of Credit shall remain outstanding neither Borrower shall, nor shall the Borrowers permit any Restricted Subsidiary to, directly or indirectly: 

Section 7.01. Liens. Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues,
whether now owned or hereafter acquired, other than the following: 
 (a) Liens pursuant to any Loan Document; 

(b) Liens existing on the date hereof and listed on Schedule 7.01 and any renewals or extensions thereof,
provided that (i) the property covered thereby is not expanded (other than improvements and accessions to such property), (ii) the amount secured or benefited thereby is not increased except as contemplated by
Section 7.02(d) and (iii) any renewal or extension of the obligations secured or benefited thereby is permitted by Section 7.02(d); 

  
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 (c) Liens for Taxes not yet due or which are being contested in good faith and by
appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP; 

(d) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, landlord’s or other like Liens arising in
the ordinary course of business which are not overdue for a period of more than 45 days or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the
books of the applicable Person; 
 (e) pledges or deposits in the ordinary course of business in connection with workers’ compensation,
unemployment insurance and other social security legislation, other than any Lien imposed by ERISA; 
 (f) (i) Liens or deposits to secure
the performance of bids, trade contracts and leases (other than leases constituting Indebtedness), statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business
and (ii) Liens resulting from earnest money deposits or indemnification holdbacks made in connection with permitted Acquisitions, Investments or Dispositions; 

(g) Liens comprised of minor defects, irregularities, and deficiencies in title to, and encroachments, easements, rights-of-way, zoning restrictions and other similar restrictions, charges or encumbrances, defects and irregularities on, easements, leases, licenses and other rights in real
property in favor of a Borrower or any Restricted Subsidiary, in each case, which, individually and in the aggregate, do not materially interfere with the ordinary conduct of the Business and do not materially detract from the use of the property
which they affect; 
 (h) Liens securing judgments for the payment of money not constituting an Event of Default under
Section 8.01(h); 
 (i) Liens securing Indebtedness permitted under Section 7.02(f);
provided that (i) such Liens do not at any time encumber any property other than the property financed by such Indebtedness and (ii) the Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower,
of the property being acquired on the date of acquisition; 
 (j) Liens on any property or asset existing at the time such property or asset
is acquired and Liens on property of a Person existing at the time such Person is merged or amalgamated into or consolidated with or acquired by a Borrower or any Restricted Subsidiary or becomes a Restricted Subsidiary; provided that, in
each case, such Liens were not created in contemplation of such acquisition, merger, amalgamation, consolidation or Investment and do not extend to any assets other than those acquired or those of the Person merged or amalgamated into or
consolidated with such Borrower or such Restricted Subsidiary or acquired by such Borrower or such Restricted Subsidiary, and the applicable Indebtedness secured by such Lien is permitted under Section 7.02(g); 

(k) Liens arising solely by virtue of any statutory or common law provision relating to banker’s liens, rights of set-off or similar rights and remedies, or under general depositary agreements, and burdening only deposit accounts or other funds maintained with a creditor depository institution; 

  
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 (l) any interest or title of a lessee or lessor under any operating lease entered into by a
Borrower or any Restricted Subsidiary in the ordinary course of its business covering only the assets so leased; 
 (m) Liens disclosed by
any title report or title commitment provided to the Administrative Agent or surveys with respect to the Mortgaged Properties, in each case, to the extent reasonably acceptable to the Administrative Agent, and any replacement, extension or renewal
of any such Lien; provided that such replacement, extension or renewal Lien shall not cover any property other than the property that was subject to such Lien prior to such replacement, extension or renewal; provided further that the
Indebtedness and other obligations secured by such replacement, extension or renewal Lien are permitted by this Agreement; 
 (n) Liens in
connection with subdivision agreements, site plan control agreements, development agreements, facilities sharing agreements, cost sharing agreements and other similar agreements in connection with the use of real property; 

(o) Liens on the Equity Interests of (i) Unrestricted Subsidiaries and (ii) Persons that are not Affiliates of the Borrowers or the
Restricted Subsidiaries; 
 (p) Liens on cash margin collateral, deposits or securities required by any Person with whom the Borrowers or any
of the Restricted Subsidiaries enters into a Swap Contract, to the extent such Swap Contracts are entered into in accordance with Section 7.15 and securing obligations in an amount not to exceed $10,000,000 in the
aggregate; 
 (q) rights of first refusal entered into in the ordinary course of business; 

(r) Liens securing Indebtedness contemplated by Section 7.02(j); provided, that such Lien is limited to the
applicable insurance contract and proceeds thereof; 
 (s) Liens granted pursuant to (i) the Development Transactions so long as any
registration of such Liens against any assets of a Borrower or Restricted Subsidiary is made subsequent in time to the effective registration of the Lien on such assets securing the Obligations or (ii) the SPE Transactions; and 

(t) other Liens securing Indebtedness outstanding in an aggregate principal amount not to exceed $15,000,000, 

provided that, nothing contained herein is intended to subordinate or postpone, and shall not be interpreted as subordinating or postponing, any Lien created
by any of the Loan Documents to any Liens permitted hereunder or under such other Loan Documents. 

  
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 Section 7.02. Indebtedness. Create, incur, assume or suffer to exist any
Indebtedness, except: 
 (a) obligations (contingent or otherwise) existing or arising under any Swap Contract permitted pursuant to
Section 7.15; 
 (b) Indebtedness of a Borrower owed to a Restricted Subsidiary, or of a Restricted Subsidiary owed
to a Borrower or a Restricted Subsidiary, which Indebtedness shall (i) in the case of Indebtedness owed to a Loan Party, be pledged under the Security Agreement, (ii) be on subordination terms reasonably acceptable to the Administrative
Agent and (iii) be otherwise permitted under the provisions of Section 7.03; 
 (c) Indebtedness under the
Loan Documents; 
 (d) Indebtedness outstanding on the date hereof and listed on Schedule 7.02 and any
refinancings, refundings, renewals or extensions thereof; provided that (i) the amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension except (A) by an amount equal to a
reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing, and (B) by an amount equal to any existing commitments unutilized thereunder; (ii) no additional or
replacement direct or any contingent obligors are added with respect thereto, as a result of or in connection with such refinancing, refunding, renewal or extension; (iii) that the terms relating to principal amount, amortization, maturity,
collateral (if any) and subordination (if any), and other material terms taken as a whole, of any such refinancing, refunding, renewing or extending Indebtedness, and of any agreement entered into and of any instrument issued in connection
therewith, are no less favorable in any material respect to the Loan Parties or the Lenders than the terms of any agreement or instrument governing the Indebtedness being refinanced, refunded, renewed or extended; and (iv) the interest rate
applicable to any such refinancing, refunding, renewing or extending Indebtedness does not exceed the then applicable market interest rate; 

(e) Guarantees of the Borrowers or any Restricted Subsidiary in respect of Indebtedness otherwise permitted hereunder of either Borrower or any
Guarantor or the Indebtedness incurred by joint ventures or Unrestricted Subsidiaries, in each case, constituting Investments otherwise permitted hereunder; provided that with respect to Guarantees of Indebtedness of joint ventures, the
aggregate amount of Indebtedness guaranteed pursuant to such Guarantees shall not exceed $15,000,000, and with respect to Guarantees of Indebtedness of Unrestricted Subsidiaries, the aggregate amount of Indebtedness guaranteed pursuant to such
Guarantees shall not exceed the amount permitted under Section 7.03(n); 
 (f) Indebtedness in respect of
Capitalized Leases, Synthetic Lease Obligations and purchase money obligations for fixed or capital assets within the limitations set forth in Section 7.01(i); provided, however, that the aggregate amount of
all such Indebtedness at any one time outstanding shall not exceed $15,000,000; 
 (g) Indebtedness of any Person that becomes a Restricted
Subsidiary after the date hereof in accordance with the terms of Section 7.03(g), which Indebtedness is existing at the time such Person becomes a Restricted Subsidiary (other than Indebtedness incurred solely in
contemplation of such Person’s becoming a Restricted Subsidiary); 

  
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 (h) unsecured Indebtedness issued by the US Borrower and/or Finance Co; provided that
(i) immediately prior to and after giving effect to the issuance of such Indebtedness, there would be no Default under this Agreement, (ii) such Indebtedness’ scheduled maturity is no earlier than six (6) months after the latest
Maturity Date, (iii) such Indebtedness does not require any scheduled repayments, defeasance or redemption (or sinking fund therefor) of any principal amount thereof prior to maturity, and (iv) the indenture or other agreement governing
such Indebtedness shall not contain (A) maintenance financial covenants or (B) other terms and conditions, taken as a whole, that are materially more restrictive on the US Borrower and its Restricted Subsidiaries, taken as a whole, than
then available market terms and conditions for comparable issuers and issuances, and any refinancings, refundings, renewals or extensions thereof; provided that the terms of such refinancing, refunding, renewing, or extending Indebtedness
satisfy the requirements of Section 7.02(h); 
 (i) [reserved]; 

(j) Indebtedness in respect of insurance premium financing for insurance being acquired by a Borrower or any Subsidiary incurred in the
ordinary course of business and on customary terms and conditions; 
 (k) Indebtedness existing solely based on the existence of the Liens
permitted by Section 7.01(o); 
 (l) Indebtedness in respect of performance bonds, bid bonds, appeal bonds, surety
bonds and completion guarantees and similar obligations for the account of the US Borrower or any Restricted Subsidiary, in each case, arising in the ordinary course of business and other than for an obligation for borrowed money; 

(m) Indebtedness pursuant to the SPE Transactions; and 

(n) other Indebtedness not otherwise permitted under this Section 7.02, in an aggregate principal amount not to
exceed $15,000,000 at any time outstanding. 
 Section 7.03. Investments. Make or hold any Investments, except: 

(a) Investments held by the Borrowers and the Restricted Subsidiaries in the form of Cash Equivalents; 

(b) advances to officers, directors and employees of the Borrowers and the Restricted Subsidiaries in an aggregate amount not to exceed
$1,000,000 at any time outstanding, for travel, entertainment, relocation, payroll advance and analogous ordinary business purposes; 
 (c)
(i) Investments by the Borrowers and the Restricted Subsidiaries in their respective Subsidiaries outstanding on the date hereof, (ii) additional Investments by the US Borrower and the Restricted Subsidiaries in Loan Parties, and
(iii) additional Investments by Subsidiaries that are not Loan Parties in other Subsidiaries that are not Loan Parties; 

  
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 (d) Investments consisting of extensions of credit in the nature of accounts receivable or
notes receivable arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors; 

(e) Guarantees permitted by Section 7.02; 

(f) Investments existing on the date hereof and listed on Schedule 7.03; 

(g) Acquisitions; provided that (i) a Borrower or a Guarantor is the acquiring or surviving entity; (ii) no Default or Event
of Default exists immediately before and after giving effect to such Acquisition; (iii) in respect of Material Acquisitions, after giving effect to such Material Acquisition on a pro forma basis, the Borrowers and the Restricted Subsidiaries
would have been in compliance with Sections 7.11(a), 7.11(b), and 7.11(c) as of the end of the most recent fiscal quarter; (iv) the requirements of Sections 6.11 and 7.07 are satisfied in
connection therewith and the target is not hostile; (v) if such Acquisition is of Equity Interests, the issuer of such Equity Interests shall be an entity organized under the laws of the United States, Canada, Luxembourg or Mexico; and
(vi) in respect of Material Acquisitions, the Administrative Agent shall have received, prior to the date on which any such Material Acquisition is to be consummated, a certificate of a Responsible Officer of the US Borrower, in form and
substance reasonably satisfactory to the Administrative Agent and the Required Lenders, certifying that all of the requirements set forth in this Section 7.03(g) have been satisfied or will be satisfied on or prior to the
date on which such Material Acquisition is consummated; 
 (h) Investments consisting of debt securities as partial consideration for the
Disposition of assets permitted by Section 7.05(f); 
 (i) Investments by the US Borrower and its Subsidiaries in
joint ventures not exceeding $35,000,000 in the aggregate; provided that the US Borrower shall use commercially reasonable efforts to have any Equity Interests in any such joint venture pledged to the Administrative Agent for the ratable
benefit of the Secured Parties under the Security Agreement and use commercially reasonable efforts to ensure that the Administrative Agent shall have received such other items in connection therewith as may be required by
Section 6.11(b); 
 (j) Investments in connection with cash margin collateral, deposits or securities permitted
under Section 7.01(p); 
 (k) Investments in Swap Obligations permitted pursuant to
Section 7.15; 
 (l) Investments made with the proceeds of substantially concurrent issuances of common Equity
Interests of the US Borrower or contributions to the US Borrower (other than Disqualified Capital Stock); provided, that (i) no Default or Event of Default exists immediately before and after giving effect to such Investment, and
(ii) both before and after giving effect to such Investment on a pro forma basis the US Borrower and the Restricted Subsidiaries would have been in compliance with Sections 7.11(a), 7.11(b), and 7.11(c) as of the end of the
most recent fiscal quarter; 

  
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 (m) Investments held by any Restricted Subsidiary acquired after the Closing Date to the
extent such Investments were held by such Restricted Subsidiary on the date of acquisition of such Restricted Subsidiary; 
 (n) Investments
(including, but not limited to, Investments in Equity Interests, intercompany loans, and unsecured Guarantees of Indebtedness otherwise expressly permitted hereunder) on or after the Closing Date by Loan Parties in Unrestricted Subsidiaries in an
aggregate amount (valued at the time of the making thereof and without giving effect to any write-downs or write-offs thereof) not to exceed an amount equal to the sum of, without duplication, $15,000,000 in the aggregate plus any return of capital
actually received by the Borrowers or any Restricted Subsidiary in respect of other investments made by them pursuant to this clause (n); and 

(o) so long as no Default has occurred and is continuing or would result from such Investment, other Investments (other than Investments in
Unrestricted Subsidiaries) not exceeding the greater of (i) $15,000,000 in the aggregate in any fiscal year of the US Borrower or (ii) 15% of Consolidated Net Tangible Assets of the US Borrower and its Restricted Subsidiaries, in the aggregate in
any fiscal year. 
 Section 7.04. Fundamental Changes. Merge, amalgamate, dissolve, liquidate, consolidate with or
into another Person, or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except that, so long as no Default exists
or would result therefrom: 
 (a) the Borrowers or any of the Restricted Subsidiaries may merge or amalgamate with any other Restricted
Subsidiaries or any other Person; provided, that (i) if any of such Subsidiaries is a Guarantor, a Guarantor shall be the surviving Person, and if a Borrower is a party thereto, such Borrower shall be the surviving Person, and
(ii) the US Borrower and the Canadian Borrower may not merge or amalgamate into each other; 
 (b) any Guarantor may Dispose of all or
substantially all of its assets (upon voluntary liquidation or otherwise) to a Borrower or to another Guarantor; 
 (c) any Subsidiary that
is not a Loan Party may Dispose of all or substantially all its assets (including any Disposition that is in the nature of a liquidation) to (i) another Subsidiary that is not a Loan Party or (ii) to a Borrower or any Subsidiary that is a
Loan Party; 
 (d) any Subsidiary (other than the Canadian Borrower) may liquidate, wind up or dissolve if the Borrowers determine in good
faith that such liquidation or dissolution is in the best interests of the Borrowers and is not materially disadvantageous to the Lenders and all of the assets of such Subsidiary are transferred to another Restricted Subsidiary; and 

(e) a Restricted Subsidiary may enter into Dispositions permitted by Section 7.05, and a Restricted Subsidiary whose
Equity Interests are sold pursuant to such a Disposition may enter into mergers, consolidations and amalgamations to facilitate such Dispositions. 

  
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 Section 7.05. Dispositions. Make any Disposition, except: 

(a) Dispositions of obsolete or worn out property, whether now owned or hereafter acquired, in the ordinary course of business; 

(b) ordinary-course-of-business Dispositions of (i) inventory; (ii) Cash Equivalents; (iii) overdue accounts receivable in connection with the
compromise or collection thereof (and not in connection with any financing transaction); and (iv) leases, subleases, rights of way, easements, licenses, and sublicenses that, individually and in the aggregate, do not materially interfere with the
ordinary conduct of the business of the Borrowers or the Restricted Subsidiaries and do not materially detract from the value or the use of the property which they affect; 

(c) Dispositions of equipment to the extent that (i) such property is exchanged for credit against the purchase price of similar replacement
property or (ii) the proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement property; 
 (d)
Dispositions of property by a Borrower or any Restricted Subsidiary to a Borrower or to a Restricted Subsidiary; provided that if the transferor of such property is a Loan Party, the transferee thereof must be a Loan Party; 

(e) Dispositions in the form of Liens permitted by Section 7.01 and Dispositions in the form of Investments permitted by
Sections 7.03; 
 (f) Dispositions by the Borrowers and the Restricted Subsidiaries not otherwise permitted under this
Section 7.05, subject to the following conditions: 
 (i) that no Default exists at the time of such Disposition or
would result from such Disposition; and 
 (ii) that the aggregate book value of all property Disposed of in reliance on this
clause (f) in any fiscal year shall not exceed $35,000,000. 
 (g) Dispositions of property (i) resulting from the
condemnation thereof or (ii) that has suffered a casualty (constituting a total loss or constructive total loss of such property), in each case upon or after receipt of the condemnation proceeds or insurance proceeds of such condemnation or
casualty, as applicable; 
 (h) Dispositions of Equity Interests of Unrestricted Subsidiaries; 

(i) Dispositions pursuant to the Development Transactions; 

(j) Dispositions pursuant to SPE Transactions; and 

(k) to the extent constituting a Disposition, (i) the unwinding of any Swap Contract pursuant to its terms and (ii) any transfer of
title or release of claims to Crude Oil, Refined Products or other petroleum products that are stored or handled at any Terminal; 

  
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 provided, however, that any Disposition pursuant to Section 7.05 (c)
and (f) shall be for fair market value. 
 Section 7.06. Restricted Payments. Declare or make, directly or
indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that: 
 (a) each Restricted
Subsidiary may make Restricted Payments to a Borrower, any Subsidiaries that are Guarantors and any other Person that owns a direct Equity Interest in such Restricted Subsidiary, ratably according to their respective holdings of the type of Equity
Interest in respect of which such Restricted Payment is being made; 
 (b) each Borrower and each Restricted Subsidiary may declare and make
dividend payments or other distributions payable solely in common or subordinated Equity Interests of such Person and the US Borrower may exchange common Equity Interests for or convert Equity Interests into other Equity Interests; 

(c) each of the Borrowers and each of the Restricted Subsidiaries may purchase, redeem or otherwise acquire its Equity Interests or make other
Restricted Payments with the proceeds received from the substantially concurrent issue of new common or subordinated Equity Interests; 
 (d)
so long as no Event of Default is continuing or would result therefrom, any other Restricted Payments may be made in an amount not to exceed $1,000,000 in the aggregate per fiscal year; and 

(e) so long as no Default has occurred and is continuing or would result therefrom, the US Borrower may make Restricted Payments with respect
to any fiscal quarter in an aggregate amount not to exceed Available Cash with respect to such fiscal quarter. 
 Section 7.07.
Change in Nature of Business. Engage in any material line of business different from the Business. 
 Section 7.08.
Transactions with Affiliates. Enter into any transaction of any kind with any Affiliate of either Borrower, whether or not in the ordinary course of business, other than on fair and reasonable terms substantially as favorable to the US
Borrower and the Restricted Subsidiaries, taken as a whole, as would be obtainable at the time in a comparable arm’s length transaction with a Person other than an Affiliate; provided that the foregoing restriction shall not apply to
(a) transactions between or among the Loan Parties, (b) transactions pursuant to the Material Contracts listed on Schedule 5.25 as in effect on the date of this Agreement or, if applicable, to the extent modified in a manner that is
not materially adverse to the Loan Parties or the Lenders, (c) transactions required by the US Borrower Partnership Agreement and permitted under this Agreement, (d) transactions that are not on an arm’s length basis or are not on
terms as favorable as could have been obtained from a third party, provided that such transaction or transactions occurs within a related series of transactions, which, in the aggregate, are on an
arm’s-length basis and are on terms as favorable as could have been obtained from a third party, (e) any corporate sharing agreements with respect to tax sharing and general overhead and
administrative matters in the ordinary course of business, (f) the payment of reasonable compensation, fees and expenses to, and indemnity provided on behalf of, the General Partner and directors, employees

  
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and officers of the General Partner, the US Borrower or any Subsidiary, (g) Investments permitted by Section 7.03(l). (h) the conversion of Class A
Units (as defined in the US Borrower Partnership Agreement) into common Equity Interests of the US Borrower in accordance with the terms set forth in the US Borrower Partnership Agreement, (i) transactions pursuant to the Development
Transactions, (j) transactions approved by the conflicts committee of the General Partner in good faith in accordance with the US Borrower Partnership Agreement and (k) the SPE Transactions. 

Section 7.09. Burdensome Agreements. Enter into or permit to exist any Contractual Obligation (other than this Agreement or
any other Loan Document) that (a) limits the ability (i) of any Restricted Subsidiary to make Restricted Payments to either Borrower or any Guarantor or to otherwise transfer property to or invest in either Borrower or any Guarantor,
except for any agreement in effect (A) on the date hereof and set forth on Schedule 7.09; (B) at the time any Restricted Subsidiary becomes a Restricted Subsidiary, so long as such agreement was not entered into solely
in contemplation of such Person becoming a Restricted Subsidiary, (ii) of any Restricted Subsidiary to Guarantee the Obligations or (iii) of a Borrower or any Restricted Subsidiary to create, incur, assume or suffer to exist Liens on
Collateral of such Person to secure the Obligations; provided, however, that clauses (i) through (iii) shall not prohibit (A) any negative pledge or other transfer restriction incurred or provided in favor of
any holder of Indebtedness permitted under Sections 7.02(f) or (g) solely to the extent any such negative pledge or transfer restriction relates to the property financed by or the subject of such Indebtedness, (B) customary non-assignment provisions in purchase and sale or exchange agreements or similar operational agreements, or customary provisions in licenses, easements, leases or other agreements, in each case entered into in the
ordinary course of business and consistent with past practices, which restrict the transfer, assignment or encumbrance thereof, (C) restrictions imposed by Law, (D) customary provisions in joint venture agreements restricting (i) the
ability of the joint venture to grant Liens in its assets, make distributions or provide guarantees of its equity holders’ obligations, or (ii) the ability of the joint venture partners to grant Liens in the equity of such joint venture,
any holder of a Lien permitted by Section 7.01 restricting the transfer of the property subject thereto and, customary restrictions and conditions contained in any agreement relating to any purchase, sale, amalgamation or
merger permitted hereunder pending the consummation of such purchase, sale, amalgamation or merger or; or (b) requires the grant of a Lien to secure an obligation of such Person if a Lien is granted to secure the Obligations. 

Section 7.10. Use of Proceeds. Use the proceeds of any Credit Extension, whether directly or indirectly, and whether
immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the Relevant Governmental Body) or to extend credit to others for the purpose of purchasing or carrying margin stock, in each case
in violation of Regulation U. 
 Section 7.11. Financial Covenants. 

(a) Consolidated Interest Coverage Ratio. Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the US
Borrower (beginning with the fiscal quarter ended September 30, 2018) to be less than 2.50 to 1.00. 

  
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 (b) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio as of the end
of any fiscal quarter of the US Borrower (beginning with the fiscal quarter ended September 30, 2018) to be greater than (i) if Qualified Notes are not outstanding, (A) during a Specified Acquisition Period, 5.00 to 1.00, and (B) at
all other times, 4.50 to 1.00, and (ii) if Qualified Notes are outstanding, (A) during a Specified Acquisition Period, 5.50 to 1.00, and (B) at all other times, 5.00 to 1.00. 

(c) Consolidated Senior Secured Leverage Ratio. Upon and after the consummation of a Qualified Notes Offering, permit the Consolidated
Senior Secured Leverage Ratio as of the end of any fiscal quarter of the US Borrower (beginning with the fiscal quarter ended September 30, 2018) to be greater than (A) during a Specified Acquisition Period, 4.00 to 1.00, and (B) at
all other times, 3.50 to 1.00. 
 Section 7.12. Amendments of Organization Documents. Amend any of its Organization
Documents, unless such amendments, modifications, or supplements could not reasonably be expected to be materially adverse to the rights of the Administrative Agent or the Lenders. 

Section 7.13. Accounting Changes. Make any change in (a) accounting policies or reporting practices, except to the
extent consistent with GAAP, or (b) the fiscal year-end of any Loan Party. 

Section 7.14. Prepayments, Etc. of Indebtedness. Prepay, redeem, purchase, defease or otherwise satisfy prior to the
scheduled maturity thereof in any manner, or make any payment in violation of any subordination terms of, any Indebtedness incurred pursuant to Section 7.02(h), except for (a) refinancings, refundings, extensions or
renewals of such Indebtedness to the extent such refinancing, refunding, extension or renewal is permitted by Section 7.02(h), (b) any payment or redemption to the extent made with the net proceeds of a substantially
concurrent issuances of common Equity Interests of the US Borrower (other than Disqualified Capital Stock); provided that (i) no Default or Event of Default exists, and (ii) the US Borrower and the Restricted Subsidiaries would have
been in compliance with Sections 7.11(a), 7.11(b), and 7.11(c) as of the end of the most recent fiscal quarter both before and after giving effect thereto on a pro forma basis and (c) so long as no Default or Event of
Default is continuing or would result therefrom, any other payment or redemption in an amount not to exceed $15,000,000. 

Section 7.15. Limitation on Speculative Hedging. Enter into any Swap Contract for speculative purposes. 

Section 7.16. Sanctions; Anti-Terrorism/Anti-Money Laundering; Anti-Corruption. Directly or indirectly use the proceeds of
any Credit Extension, or lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or other Person, in each case, in a Sanctioned Country, or to fund any activities of or business with any Sanctioned Person,
or in any other manner that would result, to the knowledge of any Borrower or Restricted Subsidiary, in a violation by any Person (including any Person participating in the transaction, whether as Lender, Joint Lead Arranger, Administrative Agent,
L/C Issuer, Swing Line Lender, or otherwise) of any applicable Sanctions, Anti-Corruption Laws, or Anti-Money Laundering/Anti-Terrorism Laws. 

  
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 ARTICLE VIII. 

EVENTS OF DEFAULT AND REMEDIES 

Section 8.01. Events of Default. Any of the following shall constitute an Event of Default: 

(a) Non-Payment. A Borrower or any other Loan Party fails to (i) pay when and as required
to be paid herein, and in the currency required hereunder, any amount of principal of any Loan or any L/C Obligation, or (ii) pay within three Business Days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any
fee due hereunder or any other amount payable hereunder or under any other Loan Document; or 
 (b) Specific Covenants. A Borrower or
any Loan Party (i) fails to perform or observe any term, covenant or agreement contained in Section 6.02(b) and such failure continues for 3 Business Days after the earlier to occur of (A) receipt of written
notice thereof from Administrative Agent or Required Lenders to the Borrowers, or (B) a Responsible Officer otherwise has actual knowledge of any such failure; (ii) fails to perform or observe any term, covenant or agreement contained in
Section 6.10 or Section 6.16 and such failure continues for 5 days after the earlier to occur of (A) receipt of written notice thereof from Administrative Agent or Required Lenders to the
Borrowers, or (B) a Responsible Officer otherwise has actual knowledge of any such failure; (iii) fails to perform or observe any term, covenant or agreement contained in Section 6.01 and such failure continues
for 15 days after the earlier to occur of (A) receipt of written notice thereof from Administrative Agent or Required Lenders to the Borrowers, or (B) a Responsible Officer otherwise has actual knowledge of any such failure; or
(iv) fails to perform or observe any term, covenant or agreement contained in any of Sections 6.03(a), 6.05 (only with respect to the Loan Parties) or Article VII; or 

(c) Other Defaults. Any Loan Party fails to perform or observe any other covenant or agreement (not specified in Sections 8.01(a)
or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days after the earlier to occur of (A) receipt of written notice thereof from Administrative Agent or Required
Lenders to the Borrowers and (B) the Borrowers having knowledge of such failure. 
 (d) Representations and Warranties.
(i) Any representation, warranty or certification made or deemed made by or on behalf of a Borrower or any other Loan Party herein or in any other Loan Document that does not have a materiality or Material Adverse Effect qualification shall be
incorrect or misleading in any material respect when made or deemed made or (ii) any representation, warranty or certification made or deemed made by or on behalf of a Borrower or any other Loan Party herein or in any other Loan Document that
has a materiality or Material Adverse Effect qualification shall be incorrect or misleading in any respect when made or deemed made; or 

(e) Cross-Default. (i) A Borrower or any Restricted Subsidiary (A) fails to make any payment when due (whether by scheduled
maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including amounts owing to
all creditors under any combined or syndicated credit arrangement) of more 

  
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than the Threshold Amount, or (B) fails to observe or perform any other agreement or condition relating to any such Indebtedness or Guarantee or contained in any instrument or agreement
evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee
or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or
otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded; or (ii) there occurs under
any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which a Borrower or any Restricted Subsidiary is the Defaulting Party (as defined in such Swap
Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which a Borrower or any Restricted Subsidiary is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by such Borrower or
such Restricted Subsidiary as a result thereof is greater than the Threshold Amount; or 
 (f) Insolvency Proceedings, Etc. Any Loan
Party, any Restricted Subsidiary or the General Partner institutes or consents to the institution of any proceeding, case or other action under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to
the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or
similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for 60 calendar days; or any proceeding, case or other action under any Debtor Relief Law relating to any such
Person or to all or any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or 

(g) Inability to Pay Debts; Attachment. (i) A Borrower, any Restricted Subsidiary or the General Partner becomes unable or admits
in writing its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of any Loan Party
and is not released, vacated or fully bonded within 30 days after its issue or levy; or 
 (h) Judgments. There is entered against a
Borrower or any Restricted Subsidiary (i) one or more final judgments or orders for the payment of money in an aggregate amount (as to all such judgments and orders) exceeding the Threshold Amount (to the extent not covered by independent
third-party insurance as to which the insurer does not dispute coverage), or (ii) any one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect and, in either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of 30 consecutive days during which a stay of enforcement of such
judgment, by reason of a pending appeal or otherwise, is not in effect; or 

  
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 (i) ERISA. (i) An ERISA Event occurs which has resulted or could reasonably be
expected to result in liability of any Loan Party or any ERISA Affiliate to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of the Threshold Amount, or (ii) a Loan Party or any ERISA Affiliate fails to pay when
due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of the Threshold Amount; or 

(j) Invalidity of Loan Documents. Any material 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, ceases to be in full force and effect; or any Loan Party contests in any manner the validity or enforceability of any material Loan Document; or any Loan
Party denies that it has any or further liability or obligation under any material Loan Document, or purports to revoke, terminate or rescind any material Loan Document; or 

(k) Change of Control. There occurs any Change of Control; or 

(l) Collateral Documents. Any Collateral Document after delivery thereof pursuant to Sections 4.01 or 6.11 shall for any
reason (other than pursuant to the terms thereof) cease to create a valid and perfected first priority Lien (subject to Liens permitted by Section 7.01 and other than as a result of the acts or omissions of the
Administrative Agent with respect to perfection requirements) on a material portion of the Collateral purported to be covered thereby; or 

(m) Environmental. There occurs any Environmental Liability that has resulted in a Material Adverse Effect. 

Section 8.02. Remedies upon Event of Default. If any Event of Default occurs and is continuing, the Administrative Agent
shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions: 
 (a) declare the
commitment of each Lender to make Loans and any obligation of the L/C Issuers to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated; 

(b) declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or
payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrowers; 

(c) require that the Borrowers Cash Collateralize the L/C Obligations (in an amount equal to the Minimum Collateral Amount with respect
thereto); and 
 (d) exercise on behalf of itself, the Lenders and the L/C Issuers all rights and remedies available to it, the Lenders and
the L/C Issuers under the Loan Documents; 

  
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 provided, however, that upon the occurrence of an actual or deemed entry of an order for
relief with respect to either Borrower under the Bankruptcy Code of the United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuers to make L/C Credit Extensions shall automatically terminate, the unpaid
principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Borrowers to Cash Collateralize the L/C Obligations as aforesaid shall automatically
become effective, in each case without further act of the Administrative Agent or any Lender. 
 Section 8.03. Application of
Funds. After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash
Collateralized as set forth in the proviso to Section 8.02), any amounts received on account of the Obligations shall, subject to the provisions of Sections 2.14 and 2.15, be applied by the Administrative
Agent in the following order: 
 First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and
other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; 

Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest
and Letter of Credit Fees) payable to the Lenders and the L/C Issuers (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuers (including fees and time charges for attorneys of any Lender or any L/C Issuer)
in accordance with Section 11.04) arising under the Loan Documents and amounts payable under Article III, ratably among them in proportion to the respective amounts described in this clause
Second payable to them; 
 Third, to payment of that portion of the Obligations constituting accrued and unpaid Letter of
Credit Fees and interest on the Loans, L/C Borrowings and other Obligations arising under the Loan Documents, ratably among the Lenders and the L/C Issuers in proportion to the respective amounts described in this clause Third payable to
them; 
 Fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans, L/C Borrowings and
Obligations then owing under Secured Hedge Agreements and Secured Cash Management Agreements, ratably among the Lenders, the L/C Issuers, the Hedge Banks and the Cash Management Banks in proportion to the respective amounts described in this clause
Fourth held by them; 
 Fifth, to the Administrative Agent for the account of the L/C Issuers, to Cash Collateralize that
portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit to the extent not otherwise Cash Collateralized by the Borrowers pursuant to Sections 2.03 and 2.14, ratably among the L/C Issuers in proportion
to the respective amounts described in this clause Fifth held by them; 
 Sixth, to the payment of any other Obligations; and

 Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full, to the Borrowers or as otherwise
required by Law. 

  
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 Subject to Sections 2.03(c) and 2.14, amounts used to Cash Collateralize the
aggregate undrawn amount of Letters of Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have
either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the order set forth above. 

Notwithstanding the foregoing, Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements shall be excluded
from the application described above if the Administrative Agent has not received written notice thereof, together with such supporting documentation as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge Bank, as
the case may be. Each Cash Management Bank or Hedge Bank not a party to the Credit Agreement that has given the notice contemplated by the preceding sentence shall, by such notice, be deemed to have acknowledged and accepted the appointment of the
Administrative Agent pursuant to the terms of Article X hereof for itself and its Affiliates as if a “Lender” party hereto. 

ARTICLE IX. 
 MULTIPLE
BORROWERS 
 Section 9.01. Obligations Joint and Several and Unconditional. The obligations of each Borrower under
this Agreement and the Notes are joint and several and absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the other Borrower under this Agreement, the Notes or any other
Loan Document (collectively, the “Other Borrower Obligations”), or any substitution, release or exchange of any other guarantee of or security for any of the Other Borrower Obligations, and, to the fullest extent permitted by
applicable Law, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, it being the intent of this Article IX that the
obligations of each Borrower hereunder shall be absolute and unconditional under any and all circumstances. Without limiting the generality of the foregoing, it is agreed that the occurrence of any one or more of the following shall not affect the
liability of either Borrower under this Agreement, the Notes or any other agreement referred to herein or therein: 
 (a) at any time or from
time to time, without notice to either Borrower, the time for any performance of or compliance with any of the Other Borrower Obligations shall be extended, or such performance or compliance shall be waived; 

(b) any of the acts mentioned in any of the provisions of this Agreement or the Notes or any other agreement or instrument referred to herein
or therein shall be done or omitted; 
 (c) the maturity of any of the Other Borrower Obligations shall be accelerated, or any of the Other
Borrower Obligations shall be modified, supplemented or amended in any respect, or any right under this Agreement or the Notes or any other Loan Document shall be waived or any other guarantee of any of the Other Borrower Obligations or any security
therefor shall be released or exchanged in whole or in part or otherwise dealt with; or 

  
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 (d) any lien or security interest granted to, or in favor of, the Administrative Agent or
any other Secured Party as security for any of the Other Borrower Obligations shall fail to be perfected. 
 Each Borrower hereby expressly
waives, with respect to the Other Borrower Obligations diligence, presentment, demand of payment, protest and all notices whatsoever, and any requirement that the Administrative Agent, any L/C Issuer, the Swing Line Lender or any Lender exhaust any
right, power or remedy or proceed against the other Borrower under this Agreement or the Notes or any other Loan Document, or against any other Person under any other guarantee of, or security for, any of the Other Borrower Obligations. 

Section 9.02. Reinstatement. The obligations of a Borrower under this Agreement, the Notes or any other agreement or
instrument referred to herein or therein, shall be automatically reinstated if and to the extent that for any reason any payment by or on behalf of the other Borrower in respect of the Other Borrower Obligations is rescinded or must be otherwise
restored by any holder of any of the Other Borrower Obligations, whether as a result of any proceedings in a bankruptcy or reorganization or otherwise, and each Borrower agrees that it will indemnify the Administrative Agent, each L/C Issuer, the
Swing Line Lender and each Lender on demand for all reasonable costs and expenses (including, without limitation, fees of counsel) incurred by the Administrative Agent or such L/C Issuer, Swing Line Lender or Lender in connection with such
rescission or restoration. 
 Section 9.03. Subrogation. Each Borrower hereby agrees that until the payment and
satisfaction in full of all Other Borrower Obligations, the expiration and termination of this Agreement and the Commitments of the Lenders under this Agreement, and the expiration or termination of all Letters of Credit, it shall not exercise any
right or remedy arising by reason of any performance by it of any of its obligations hereunder, whether by subrogation or otherwise, against the Other Borrower Obligations or any security for any of the Other Borrower Obligations. 

Section 9.04. Remedies. Each Borrower agrees that, as between such Borrower and the Lenders, the obligations of the other
Borrower under this Agreement and the Notes may be declared to be forthwith due and payable as provided in Article VIII hereof (and shall be deemed to have become automatically due and payable in the circumstances provided
in Article VIII) notwithstanding any stay, injunction or other prohibition preventing such declaration (or such obligations from being deemed to have become automatically due and payable), such obligations (whether or not
due and payable by such other Borrower) shall forthwith become due and payable by such Borrower. 
 Section 9.05. Limitation on
Obligations. Notwithstanding any provision to the contrary contained herein, in any of the Notes or any other Loan Document, to the extent the joint obligations of the Borrowers would be adjudicated to be invalid or unenforceable for any
reason (including, without limitation, because of applicable Law relating to fraudulent conveyances or transfers) then the aggregate obligations of each Borrower hereunder and under the Notes and all other agreements and instruments referred to
herein or therein shall be limited to the maximum amount that is permissible under applicable Law (whether federal, provincial or state and including, without limitation, any Debtor Relief Laws or other bankruptcy, insolvency, reorganization,
moratorium, or similar Law affecting creditors’ rights generally). 

  
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 ARTICLE X. 

ADMINISTRATIVE AGENT 

Section 10.01. Appointment and Authority. 

(a) Each of the Lenders and the L/C Issuers hereby irrevocably appoints BMO 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 Article are solely for the benefit of the Administrative Agent, the Lenders and the L/C Issuers, and neither Borrower shall have rights as a third party beneficiary of any of such
provisions. 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. 

(b) The Administrative Agent shall also act as the “collateral agent” under the Loan Documents, and each of the Lenders (including in
its capacities as a potential Hedge Bank and a potential Cash Management Bank) and the L/C Issuers hereby irrevocably appoints and authorizes the Administrative Agent to act as the agent of such Lender and such L/C Issuer for purposes of acquiring,
holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties to secure any of the Obligations, together with such powers and discretion as are reasonably incidental thereto. In this connection, the Administrative Agent,
as “collateral agent” and any co-agents, sub-agents and attorneys-in-fact
appointed by the Administrative Agent pursuant to Section 10.05 for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Collateral Documents, or for exercising any rights
and remedies thereunder at the direction of the Administrative Agent), shall be entitled to the benefits of all provisions of this Article X and Article XI (including
Section 11.04(c), as though such co-agents, sub-agents and
attorneys-in-fact were the “collateral agent” under the Loan Documents) as if set forth in full herein with respect thereto. 

Section 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 Borrowers 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.

  
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 Section 10.03. Exculpatory Provisions. The Administrative Agent shall not
have any duties or obligations except those expressly set forth herein and in the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing, the Administrative Agent: 

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

(b) 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 
 (c) 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 either 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. 
 (d) The Administrative Agent shall not be liable for any action taken or not taken by it
(i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as
provided in Sections 11.01 and 8.02) or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. The Administrative Agent shall
be deemed not to have knowledge of any Default unless and until notice describing such Default is given in writing to the Administrative Agent by a Borrower, a Lender or the applicable L/C Issuer. 

(e) The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with 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, (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, or the creation, perfection or priority of any Lien purported to be created by the Collateral Documents, (v) the value or the sufficiency of any Collateral, or (vi) the
satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 

Section 10.04. 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 Communication executed using an Electronic Signature or in the form of an Electronic Record or any
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 

  
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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 or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or an L/C Issuer, the Administrative Agent
may presume that such condition is satisfactory to such Lender or such L/C Issuer unless the Administrative Agent shall have received notice to the contrary from such Lender or such L/C Issuer prior to the making of such Loan or the issuance of such
Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrowers), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance
with the advice of any such counsel, accountants or experts. 
 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
Article 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 in the selection of such sub-agents. 
 Section 10.06.
Resignation of Administrative Agent. 
 (a) The Administrative Agent may at any time give notice of its resignation to the
Lenders, the L/C Issuers and each Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, in consultation with the US Borrower, 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 30 days after the retiring Administrative Agent
gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent may (but shall not be obligated to) on behalf of the Lenders
and the L/C Issuers, appoint a successor Administrative Agent meeting the qualifications set forth above. Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Resignation
Effective Date. 
 (b) If the Person serving as Administrative Agent is a Defaulting Lender pursuant to clause (d) of the definition
thereof, the Required Lenders may, to the extent permitted by applicable Law, by notice in writing to the Borrowers and such Person remove such Person as Administrative Agent and, in consultation with the US Borrower, appoint a successor. If no such
successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 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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 (c) With effect from the Resignation Effective Date or the Removal Effective Date (as
applicable) (1) the retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent
on behalf of the Lenders or the L/C Issuers under any of the Loan Documents, the retiring or removed Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and
(2) 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 the applicable L/C Issuer directly, until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the acceptance of a successor’s appointment
as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or removed) Administrative Agent (other than as provided in
Section 3.01(h) 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
Borrowers to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrowers 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 Article and Section 11.04 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 while the retiring or removed Administrative Agent was acting as Administrative Agent. 

(d) Any resignation or removal by BMO as Administrative Agent pursuant to this Section shall also constitute its resignation as an L/C Issuer
and Swing Line Lender. If BMO resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of an L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as an L/C
Issuer and all L/C Obligations with respect thereto, including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c). If BMO resigns as
Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to
make Base Rate Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.04(c). Upon the appointment by the Borrowers of a successor L/C Issuer or Swing Line Lender hereunder (which successor
shall in all cases be a Lender other than a Defaulting Lender), (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as applicable, (b) the
retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and (c) the successor L/C Issuer shall issue letters of credit in substitution for
the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring L/C Issuer to effectively assume the obligations of the retiring L/C Issuer with respect to such Letters of Credit.

  
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 Section 10.07. Non-Reliance on
Administrative Agent and Other Lenders. Each Lender and each L/C Issuer acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such
documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and each L/C Issuer also acknowledges that it will, independently and without reliance upon the
Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based
upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 

Section 10.08. No Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the Joint Bookrunners, the
Joint Lead Arrangers or the Syndication Agent 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 L/C Issuer hereunder. 
 Section 10.09. Administrative Agent May File Proofs of Claim; Credit
Bidding. In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, 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 either Borrower) shall be entitled and empowered, by intervention in such proceeding or
otherwise: 
 (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 L/C Issuers and the Administrative Agent (including any claim for the
reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C Issuers and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the L/C Issuers and the Administrative Agent
under Sections 2.03(h) and (i), 2.09 and 11.04) allowed in such judicial proceeding; and 
 (b) 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 L/C Issuer to make such payments to the Administrative Agent and, if the Administrative Agent shall consent to the making of such payments directly to the Lenders and the L/C Issuers, 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 Sections 2.09 and 11.04. 

  
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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 any L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or any L/C Issuer to authorize the Administrative
Agent to vote in respect of the claim of any Lender or any L/C Issuer or in any such proceeding. 
 The Secured Parties hereby irrevocably
authorize the Administrative Agent, at the direction of the Required Lenders, to credit bid all or any portion of the Obligations (including accepting some or all of the Collateral in satisfaction of some or all of the Obligations pursuant to a deed
in lieu of foreclosure or otherwise) and in such manner purchase (either directly or through one or more acquisition vehicles) all or any portion of the Collateral (a) at any sale thereof conducted under the provisions of the Bankruptcy Code of
the United States, including under Sections 363, 1123 or 1129 of the Bankruptcy Code of the United States, or any similar Laws in any other jurisdictions to which a Loan Party is subject, (b) at any other sale or foreclosure or acceptance of
collateral in lieu of debt conducted by (or with the consent or at the direction of) the Administrative Agent (whether by judicial action or otherwise) in accordance with any applicable Law. In connection with any such credit bid and purchase, the
Obligations owed to the Secured Parties shall be entitled to be, and shall be, credit bid on a ratable basis (with Obligations with respect to contingent or unliquidated claims receiving contingent interests in the acquired assets on a ratable basis
that would vest upon the liquidation of such claims in an amount proportional to the liquidated portion of the contingent claim amount used in allocating the contingent interests) in the asset or assets so purchased (or in the Equity Interests or
debt instruments of the acquisition vehicle or vehicles that are used to consummate such purchase). In connection with any such bid (i) the Administrative Agent shall be authorized to form one or more acquisition vehicles to make a bid,
(ii) to adopt documents providing for the governance of the acquisition vehicle or vehicles (provided that any actions by the Administrative Agent with respect to such acquisition vehicle or vehicles, including any disposition of the
assets or Equity Interests thereof shall be governed, directly or indirectly, by the vote of the Required Lenders, irrespective of the termination of this Agreement and without giving effect to the limitations on actions by the Required Lenders
contained in clauses (a) through (i) of Section 11.01 of this Agreement, (iii) the Administrative Agent shall be authorized to assign the relevant Obligations to any such acquisition vehicle pro rata by the
Lenders, as a result of which each of the Lenders shall be deemed to have received a pro rata portion of any Equity Interests and/or debt instruments issued by such an acquisition vehicle on account of the assignment of the Obligations to be credit
bid, all without the need for any Secured Party or acquisition vehicle to take any further action, and (iv) to the extent that Obligations that are assigned to an acquisition vehicle are not used to acquire Collateral for any reason (as a
result of another bid being higher or better, because the amount of Obligations assigned to the acquisition vehicle exceeds the amount of debt credit bid by the acquisition vehicle or otherwise), such Obligations shall automatically be reassigned to
the Lenders pro rata and the Equity Interests and/or debt instruments issued by any acquisition vehicle on account of the Obligations that had been assigned to the acquisition vehicle shall automatically be cancelled, without the need for any
Secured Party or any acquisition vehicle to take any further action. 
 Section 10.10. Collateral and Guaranty Matters.
Without limiting Section 10.09, each of the Lenders (including in its capacities as a potential Cash Management Bank and a potential Hedge Bank) and the L/C Issuers irrevocably authorize the Administrative Agent, at its
option and in its discretion to (and at the request of a Borrower, the Administrative Agent, shall): 

  
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 (a) release any Lien on any property granted to or held by the Administrative Agent under
any Loan Document (i) upon termination of the Aggregate Commitments and payment in full of all Obligations (other than (A) contingent indemnification obligations and (B) obligations and liabilities under Secured Cash Management
Agreements and Secured Hedge Agreements as to which arrangements satisfactory to the applicable Cash Management Bank or Hedge Bank shall have been made) and the expiration or termination of all Letters of Credit (other than Letters of Credit as to
which other arrangements satisfactory to the Administrative Agent and the applicable L/C Issuer shall have been made), (ii) that is Disposed of or to be Disposed of as part of or in connection with any Disposition permitted hereunder or under any
other Loan Document to a Person that is not a Loan Party, (iii) that constitutes “Excluded Property” (as such term is defined in the Security Agreement), or (iv) if approved, authorized or ratified in writing in accordance with
Section 11.01; 
 (b) release any Guarantor from its obligations under the Guaranty if such Person ceases to be a
Restricted Subsidiary as a result of a transaction permitted under the Loan Documents; 
 (c) to subordinate any Lien on any property granted
to or held by the Administrative Agent under any Loan Document to the holder of any Lien on such property that is permitted by Section 7.01(i); and 

(d) release the Parent Guaranty (as defined under and in the Existing Credit Agreement). 

Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority
to release or subordinate its interest in particular types or items of property or to release any Guarantor (including any guaranty under the Parent Guaranty (as defined under and in the Existing Credit Agreement)) from its obligations under the
Guaranty, in each case, pursuant to this Section 10.10. In each case as specified in this Section 10.10, the Administrative Agent will, at the Borrowers’ expense, execute and deliver to the
applicable Loan Party such documents as such Loan Party may reasonably request to evidence the release of such item of Collateral from the assignment and security interest granted under the Collateral Documents or to subordinate the Administrative
Agent’s interest in such item, or to release such Guarantor from its obligations under the Guaranty, in each case, in accordance with the terms of the Loan Documents and this Section 10.10. 

Section 10.11. Secured Cash Management Agreements and Secured Hedge Agreements. No Cash Management Bank or Hedge Bank that
obtains the benefits of Section 8.03, the Guaranty or any Collateral by virtue of the provisions hereof or of the Guaranty or any Collateral Document shall have any right to notice of any action or to consent to, direct or
object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender and, in such case, only to the extent expressly
provided in the Loan Documents. Further, each such Secured Party, by virtue of obtaining the benefits of Section 8.03, the Guaranty or any Collateral, shall, for the avoidance of doubt, be deemed to have agreed to the provisions of
Section 10.12. Notwithstanding any other provision of this Article X to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other satisfactory
arrangements have been made with respect to, Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements unless the Administrative Agent has received written notice of such Obligations, together with such supporting
documentation as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge Bank, as the case may be. 

  
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 Section 10.12. Recovery of Erroneous Payments. Notwithstanding anything
to the contrary in this Agreement, if at any time Administrative Agent determines (in its sole and absolute discretion) that it has made a payment hereunder in error to any Lender, L/C Issuer or other Secured Party, whether or not in respect of
Obligations due and owing by a Borrower at such time, where such payment is a Rescindable Amount, then in any such event, each such Person receiving a Rescindable Amount severally agrees to repay to Administrative Agent forthwith on demand the
Rescindable Amount received by such Person in immediately available funds in the currency so received, with interest thereon, for each day from and including the date such Rescindable Amount is received by it to but excluding the date of payment to
Administrative Agent, at the Overnight Rate. Each Lender, each L/C Issuer and each other Secured Party irrevocably waives any and all defenses, including any “discharge for value” (under which a creditor might otherwise claim a right to
retain funds mistakenly paid by a third party in respect of a debt owed by another), “good consideration”, “change of position” or similar defenses (whether at law or in equity) to its obligation to return any Rescindable Amount.
Administrative Agent shall inform each Lender, L/C Issuer or other Secured Party that received a Rescindable Amount promptly upon determining that any payment made to such Person comprised, in whole or in part, a Rescindable Amount. Each
Person’s obligations, agreements and waivers under this Section 10.12 shall survive the resignation or replacement of the Administrative Agent, any transfer of rights or obligations by, or the replacement of, a Lender
or L/C Issuer, the termination of the Commitments and/or the repayment, satisfaction or discharge of all Obligations (or any portion thereof) under any Loan Document. 

ARTICLE XI. 

MISCELLANEOUS 

Section 11.01. Amendments, Etc. Subject to Section 3.03, no amendment or waiver of any provision
of this Agreement or any other Loan Document, and no consent to any departure by either Borrower or any other Loan Party therefrom, shall be effective unless in writing signed by the Required Lenders and each Borrower or the applicable Loan Party,
as the case may be, and acknowledged by the Administrative Agent, and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no such amendment,
waiver or consent shall: 
 (a) waive any condition set forth in Section 4.01, or, in the case of the initial
Credit Extension on the Closing Date, Section 4.02, without the written consent of each Lender; 
 (b) subject to
Section 2.16 and Section 2.17, extend any Maturity Date or increase the Commitment, of any Lender (or reinstate any Commitment of a Lender terminated pursuant to
Section 8.02), without the consent of such Lender; 
 (c) subject to Section 2.17,
postpone any date fixed by this Agreement or any other Loan Document for any payment (excluding mandatory prepayments) of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or under such other Loan Document
,without the written consent of each Lender entitled to such payment; 

  
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 (d) reduce the principal of, or the rate of interest specified herein on, any Loan or L/C
Borrowing, or (subject to clause (iv) of the second proviso to this Section 11.01) any fees or other amounts payable hereunder or under any other Loan Document without the written consent of each Lender entitled to
such amount; provided, however, that only the consent of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate” or waive the application thereof or (ii) to amend any financial covenant
hereunder (or any defined term used therein) even if the effect of such amendment would be to reduce the rate of interest on any Loan or L/C Borrowing or to reduce any fee payable hereunder; and provided, further, that only the consent
of the Required Lenders shall be necessary to waive any obligation of the Borrowers to pay interest or Letter of Credit Fees at the Default Rate with respect to Loans or Letters of Credit under the Facility; 

(e) change (i) Section 8.03 or (ii) the order of application of any reduction in the Commitments or any
prepayment of Loans under the Facility from the application thereof set forth in the applicable provisions of Section 2.05(b) or 2.06(c), respectively, in each case, in any manner that materially and adversely
affects the Lenders under the Facility, without the written consent of the Required Lenders; 
 (f) change any provision of this
Section 11.01 or the definition of “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any
determination or grant any consent hereunder, without the written consent of each Lender; 
 (g) other than in a transaction permitted
pursuant to Section 7.05, release all or substantially all of the Collateral in any transaction or series of related transactions, without the written consent of each Lender; 

(h) release all or substantially all of the value of the Guaranty, without the written consent of each Lender, except to the extent the release
of any Subsidiary from the Guaranty is permitted pursuant to Section 10.10 (in which case such release may be made by the Administrative Agent acting alone); or 

(i) change Section 2.13 or any other provision in this Agreement in a manner that would alter the pro rata sharing of
payments to Lenders required thereby, without the written consent of each Lender; 
 and provided, further, that (i) no amendment, waiver
or consent shall, unless in writing and signed by the applicable L/C Issuer in addition to the Lenders required above, adversely affect the rights or duties of such L/C Issuer under this Agreement or any Issuer Document relating to any Letter of
Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by the Swing Line Lender in addition to the Lenders required above, affect the rights or duties of the Swing Line Lender under this
Agreement; (iii) 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 

  
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Loan Document; (iv) the Fee Letters may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto; and (v) the L/C Issuer Sublimit of any
L/C Issuer may be amended in writing executed only by such L/C Issuer and the Borrowers with written notice from such L/C Issuer and the Borrowers to the Administrative Agent and the other Lenders. Notwithstanding anything to the contrary herein, no
Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each adversely affected Lender may be effected
with the consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of any Defaulting Lender may not be increased or extended without the consent of such Lender and (y) any waiver, amendment or
modification requiring the consent of all Lenders or each adversely affected Lender that by its terms affects any Defaulting Lender disproportionately adversely relative to other affected Lenders shall require the consent of such Defaulting Lender.

 Section 11.02. Notices; Effectiveness; Electronic Communications. 

(a) Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and except
as provided in subsection (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile
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: 

(i) if to either Borrower, the Administrative Agent or an L/C Issuer or the Swing Line Lender, to the address, facsimile
number, electronic mail address or telephone number specified for such Person on Schedule 11.02; and 

(ii) if to any other Lender, to the address, facsimile number, electronic mail address or telephone number specified in its
Administrative Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire then in effect for the delivery of notices that may contain material non-public information relating to the Borrowers). 
 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 facsimile 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 subsection (b) below shall be effective as provided in such subsection (b). 
 (b) Electronic Communications.
Notices and other communications to the Lenders and the L/C Issuers hereunder may be delivered or furnished by Electronic Record (including e-mail, FpML messaging, and Internet or intranet websites) pursuant
to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Lender or any L/C Issuer pursuant to Article II if such Lender or such L/C Issuer, as applicable, has
notified the Administrative Agent that it is incapable of receiving notices under such Article by Electronic Record. The Administrative Agent, the Swing Line Lender, any L/C Issuer or either Borrower may each, in its discretion, agree to accept
notices and other communications to it hereunder by Electronic Record pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. 

  
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 Unless the Administrative Agent otherwise prescribes, (i) notices and other
communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested”
function, as available, return e-mail or other written acknowledgement), and (ii) 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 clause (i) of notification that such notice or communication is available and identifying the website address therefor;
provided that, for both clauses (i) and (ii), if such notice, email or other communication is not sent during the normal business hours of the recipient, such notice, email or communication shall be deemed to have been sent at the
opening of business on the next Business Day for the recipient. 
 (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 either Borrower, any
Lender, any L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of a Borrower’s, any Loan Party’s or the Administrative Agent’s
transmission of Borrower Materials or notices through the Platform, any other electronic platform or electronic messaging service, or through the Internet. 

(d) Change of Address, Etc. Each of the Borrowers, the Administrative Agent, each L/C Issuer and the Swing Line Lender may change its
address, facsimile or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, facsimile or telephone number for notices and other communications hereunder by
notice to the Borrowers, the Administrative Agent, each L/C Issuer and the Swing Line 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, facsimile 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 

  
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applicable Law, including United States Federal and state securities and Canadian federal and provincial 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 Borrowers or its securities for purposes of United States
Federal or state securities laws or Canadian federal or provincial securities laws. 
 (e) Reliance by Administrative Agent, L/C Issuers
and Lenders. The Administrative Agent, the L/C Issuers and the Lenders shall be entitled to rely and act upon any notices (including telephonic notices, Loan Notices, Letter of Credit Applications and Swing Line Loan Notices) purportedly given
by or on behalf of a Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by
the recipient, varied from any confirmation thereof. The Borrowers shall and hereby do indemnify the Administrative Agent, each L/C Issuer, each 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 a Borrower. All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and
each of the parties hereto hereby consents to such recording. 
 Section 11.03. No Waiver; Cumulative Remedies;
Enforcement. No failure by any Lender, any L/C Issuer or the Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a
waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers
and privileges herein provided, and provided under each other Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges provided by Law. 

Notwithstanding anything to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies
hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at Law in connection with such enforcement shall be instituted and maintained exclusively by, the
Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders and the L/C Issuers; provided, however, that the foregoing shall not prohibit (a) the Administrative Agent from
exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents, (b) any L/C Issuer or the Swing Line Lender from exercising the rights
and remedies that inure to its benefit (solely in its capacity as L/C Issuer or Swing Line Lender, as the case may be) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in accordance with
Section 11.08 (subject to the terms of Section 2.13), or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding,
case or other action relative to any Loan Party under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan Documents, then (i) the
Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and
subject to Section 2.13, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required Lenders. 

  
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 Section 11.04. Expenses; Indemnity; Damage Waiver. 

(a) Costs and Expenses. The Borrowers shall pay (i) all reasonable
out-of-pocket expenses incurred by the Joint Lead Arrangers, the Administrative Agent and their Affiliates (including the reasonable fees, charges and disbursements of
counsel for the Joint Lead Arrangers and the Administrative Agent, such legal fees to be limited to, unless a conflict of interest exists, as reasonably determined by any Joint Lead Arranger or the Administrative Agent, one counsel for the Joint
Lead Arrangers and the Administrative Agent, taken as a whole, and, if necessary, one firm of local counsel in each relevant jurisdiction for the Joint Lead Arrangers and the Administrative Agent, taken as a whole), 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 (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by any L/C Issuer in
connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all expenses incurred by the Administrative Agent, any Lender, the Swing Line Lender or any L/C Issuer
(including the fees, charges and disbursements of any counsel for the Administrative Agent, any Lender, the Swing Line Lender or any L/C Issuer), and shall pay all fees and time charges for attorneys of the Administrative Agent, any Lender, the
Swing Line Lender or any L/C Issuer, in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with
Loans made or Letters of Credit issued hereunder, including all such expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 

(b) Indemnification by the Borrowers. The Borrowers shall and hereby do indemnify the Joint Lead Arrangers, the Administrative
Agent (and any sub-agent thereof), each Lender, the Swing Line Lender and each L/C Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an
“Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including the fees, charges and disbursements of any counsel for any Indemnitee),
and shall and hereby do indemnify and hold harmless each Indemnitee from all out-of-pocket fees and time charges and disbursements for attorneys of any Indemnitee,
incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrowers or any other Loan Party) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of
(i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby (including the Indemnitee’s reliance on any Communication executed using an Electronic
Signature, or in the form of an Electronic Record), 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
Section 3.01), (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by an L/C Issuer to honor a 

  
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demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged
presence or release of Hazardous Materials on or from any property owned or operated by either Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to either Borrower or any of its Subsidiaries, or (iv) 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 Borrowers or any other Loan Party or any
Borrower’s or such Loan Party’s directors, shareholders or creditors, and regardless of whether any Indemnitee is a party thereto, IN ALL CASES, WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY
OR SOLE NEGLIGENCE OR THE STRICT LIABILITY OF THE INDEMNITEE; provided that such indemnity shall not, as to any Indemnitee, be available (x) 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 the bad faith, gross negligence or willful misconduct of such Indemnitee or (y) to the extent such losses, claims, damages, liabilities or related
expenses relate to any proceeding solely between or among Indemnitees other than (i) claims against either the Administrative Agent or any Joint Lead Arranger or their respective Affiliates in their capacity or in fulfilling their role as the
agent or arranger or any other similar role hereunder and under the other Loan Documents and (ii) claims arising out of any act or omission on the part of any Loan Party or any of Loan Party’s Affiliates, and provided further that such
Indemnitee shall promptly repay the Borrowers all expense reimbursements previously made pursuant to this clause (y) to the extent that such Indemnitee is determined not to be entitled to indemnification hereunder as contemplated by the
preceding exceptions. Without limiting the provisions of Section 3.01(c), this Section 11.04(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages,
etc. arising from any non-Tax claim. 
 (c) Reimbursement by Lenders. To the extent that
the Borrowers for any reason fail to indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it to any Joint Lead Arranger, the Administrative Agent (or any
sub-agent thereof), any L/C Issuer, the Swing Line Lender or any Related Party of any of the foregoing, each Lender severally agrees to pay to such Joint Lead Arranger, the Administrative Agent (or any such sub-agent), such L/C Issuer, the Swing Line 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 based on each Lender’s share of the Total Credit Exposure at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender), such payment to be made severally among them based
on such Lender’s share of the Total Credit Exposure (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought), provided further that the unreimbursed expense or indemnified loss, claim,
damage, liability or related expense, as the case may be, was incurred by or asserted against such Joint Lead Arranger, the Administrative Agent (or any such sub-agent), such L/C Issuer or the Swing Line
Lender in its capacity as such, or against any Related Party of any of the foregoing acting for such Joint Lead Arranger, the Administrative Agent (or any such sub-agent), such L/C Issuer or the Swing Line
Lender in connection with such capacity. The obligations of the Lenders under this subsection (c) are subject to the provisions of Section 2.12 (d). 

  
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 (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by
applicable Law, no party hereto shall assert, and hereby waives, and each party hereto acknowledges that no other Person shall have, any claim against any Indemnitee, 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; provided that nothing shall limit any Borrower’s indemnity obligation to the extent that such special, indirect, consequential or punitive damages are included in
any claim by a third party unaffiliated with any Indemnitee with respect to which the applicable Indemnitee is entitled to indemnification under subsection (b) above. No Indemnitee referred to in
subsection (b) above shall be liable for any damages arising from the use by others of any information or other materials distributed to such party by such Indemnitee 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. 

(e) Payments. All amounts due under this Section shall be payable not later than ten Business Days after demand
therefor. 
 (f) Survival. The agreements in this Section and the indemnity provisions of
Section 11.02(e) shall survive the resignation of the Administrative Agent, any of the L/C Issuers and the Swing Line Lender, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment,
satisfaction or discharge of all the other Obligations. 
 Section 11.05. Payments Set Aside. To the extent that any
payment by or on behalf of a Borrower is made to the Administrative Agent, any L/C Issuer or any Lender, or the Administrative Agent, any L/C Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any
part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent, such L/C Issuer or such Lender in its discretion) to be repaid
to a trustee, receiver or any other party, in connection with any proceeding, case or other action under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be
satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender and each L/C Issuer severally agrees to pay to the Administrative Agent upon demand its
applicable share (without duplication) of any amount so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the applicable Overnight
Rate from time to time in effect, in the applicable currency of such recovery or payment. The obligations of the Lenders and the L/C Issuers under clause (b) of the preceding sentence shall survive the payment in full of the Obligations and the
termination of this Agreement. 

  
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 Section 11.06. Successors and Assigns. 

(a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns permitted hereby, except that neither Borrower may assign or otherwise transfer any of its rights or obligations hereunder 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 Section 11.06(b), (ii) by way of participation in
accordance with the provisions of Section 11.06(d), or (iii) by way of pledge or assignment of a security interest subject to the restrictions of Section 11.06(f) (and any other attempted
assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted
hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the L/C Issuers and the Lenders) any legal or
equitable right, remedy or claim under or by reason of this Agreement. 
 (b) 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 (including all or a portion of its Commitment(s) and the Loans (including for purposes of this
Section 11.06(b), participations in L/C Obligations and in Swing Line Loans) at the time owing to it); provided that (in each case with respect to any Facility) any such assignment shall be subject to the following
conditions: 
 (i) Minimum Amounts. 

(A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment under any Facility
and/or the Loans at the time owing to it (in each case with respect to any Facility) or contemporaneous assignments to related Approved Funds that equal at least the amount specified in paragraph (b)(i)(B) of this Section in the aggregate 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 

(B) in any case not described in subsection (b)(i)(A) of this Section, the aggregate amount of the Commitment (which for
this purpose includes Loans outstanding thereunder) or, if the applicable 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 $5,000,000 unless each of
the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrowers otherwise consent (each such consent not to be unreasonably withheld or delayed). 

(ii) Proportionate Amounts. 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. 

  
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 (iii) Required Consents. No consent shall be required for any
assignment except to the extent required by subsection (b)(i)(B) of this Section and, in addition: 
 (A) the consent
of each Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (1) an Event of Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate
of a Lender or an Approved Fund; provided that each Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within five (5) Business Days after having
received notice thereof; 
 (B) the consent of the Administrative Agent (such consent not to be unreasonably withheld or
delayed) shall be required for assignments in respect of any Commitment if such assignment is to a Person that is not a Lender with a Commitment in respect of the Facility, an Affiliate of such Lender or an Approved Fund with respect to such Lender;

 (C) the consent of the L/C Issuers (such consent not to be unreasonably withheld or delayed) shall be required for any
assignment that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding); and 

(D) the consent of the Swing Line Lender (such consent not to be unreasonably withheld or delayed) shall be required for any
assignment of any Commitment that increases the obligation of the assignee to participate in exposure under any Swing Line Loan (whether or not then outstanding). 

(iv) Assignment and Assumption. 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. 

(v) No Assignment to Certain Persons. No such assignment shall be made (A) to either Borrower or any of its
Affiliates or Subsidiaries, (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B), or (C) to a
natural Person. 
 (vi) Certain Additional Payments. 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
Borrowers and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and
satisfy in full all payment liabilities then owed 

  
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by such Defaulting Lender to the Administrative Agent, the L/C Issuers or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its share of the Total
Credit Exposure. 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 subsection (c) of this Section, 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 Sections 3.01, 3.04, 3.05 and
11.04 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will
constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Upon request, each 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 subsection 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 subsection (d) of this Section. 
 (c) Register. The Administrative Agent, acting solely for this purpose as a non-fiduciary agent of the Borrowers (and such agency being solely for Tax purposes), shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it (or the
equivalent thereof in electronic form) and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts (and stated interest) of the Loans and L/C Obligations owing to, each Lender pursuant
to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrowers, the Administrative Agent and the Lenders shall treat each Person whose name is
recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrowers and any Lender, at any reasonable time and from time to time upon
reasonable prior notice. 
 (d) Participations. Any Lender may at any time, without the consent of, or notice to, either Borrower or
the Administrative Agent, sell participations to any Person (other than a natural Person, a Defaulting Lender or either 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 and/or Swing Line Loans) owing to it); provided that
(i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrowers, the
Administrative Agent, the Lenders and the L/C Issuers shall continue to deal solely and directly with such Lender in connection with such Lender’ s rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be
responsible for the indemnity under Section 11.04(c) without regard to the existence of any participation. 

  
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 (e) Any agreement or instrument pursuant to which a Lender sells such a participation shall
provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender
will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 11.01 that affects such Participant. The Borrowers agree that each Participant
shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section (it being understood
that the documentation required under Section 3.01(f) shall be delivered to the Lender who sells the participation) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph
(b) of this Section; provided that such Participant (A) agrees to be subject to the provisions of Sections 3.06 and 11.13 as if it were an assignee under paragraph (b) of this Section and (B) shall not
be entitled to receive any greater payment under Sections 3.01 or 3.04, with respect to any participation, than the Lender from whom it acquired the applicable participation would have been entitled to receive, except to the extent
such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation. Each Lender that sells a participation agrees, at the Borrowers’ request and expense, to use
reasonable efforts to cooperate with the Borrowers to effectuate the provisions of Section 3.06 with respect to any Participant. To the extent permitted by Law, each Participant also shall be entitled to the benefits of
Section 11.08 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.13 as though it were a Lender. 

(f) Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary
agent of the Borrowers, 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, letters of credit 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, letter of credit
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. 
 (g) 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; 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. 

  
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 (h) Resignation as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding
anything to the contrary contained herein, if at any time BMO, Citibank, N.A., or U.S. Bank assigns all of its Commitment and Loans pursuant to Section 11.06(b), BMO, Citibank, N.A., or U.S. Bank, as applicable, may,
(i) upon 30 days’ notice to each Borrower and the Lenders, resign as an L/C Issuer and/or (ii) in the case of BMO, upon 30 days’ notice to each Borrower, resign as Swing Line Lender. In the event of any such resignation as an L/C
Issuer or Swing Line Lender, the Borrowers shall be entitled to appoint from among the Lenders a successor L/C Issuer and/or Swing Line Lender hereunder; provided, however, that no failure by the Borrowers to appoint any such successor
shall affect the resignation of BMO, Citibank, N.A., or U.S. Bank, as applicable, as L/C Issuer or Swing Line Lender, as the case may be. If BMO, Citibank, N.A., or U.S. Bank, resigns as an L/C Issuer, it shall retain all the rights, powers,
privileges and duties of an L/C Issuer hereunder with respect to all Letters of Credit issued by it and outstanding as of the effective date of its resignation as an L/C Issuer and all L/C Obligations with respect thereto (including the right to
require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)). If BMO resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender
provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swing Line
Loans pursuant to Section 2.04(c). Upon the appointment of a successor L/C Issuer and/or Swing Line Lender, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of
the retiring L/C Issuer or Swing Line Lender, as the case may be, and (b) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, issued by such retiring L/C Issuer and outstanding at the time
of such succession or make other arrangements satisfactory to such retiring L/C Issuer to effectively assume the obligations of such retiring L/C Issuer with respect to such Letters of Credit. 

Section 11.07. Treatment of Certain Information; Confidentiality. Each of the Administrative Agent, the Lenders and the L/C
Issuers agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its Related Parties (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 required or requested by any regulatory authority purporting to have jurisdiction over such Person or its
Related Parties (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other
party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder,
(f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights and obligations under this
Agreement or any Eligible Assignee invited to be a Lender pursuant to Section 2.16(c) or (ii) any actual or prospective party (or its Related Parties) to any swap, derivative or other transaction under which payments
are to be made by reference to any Borrower and its obligations, 

  
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this Agreement or payments hereunder, (g) on a confidential basis to (i) any rating agency in connection with rating either Borrower or its Subsidiaries or the credit facilities
provided hereunder or (ii) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers or other market identifiers with respect to the credit facilities provided hereunder, (h) with the
consent of the applicable Borrower or (i) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes available to the Administrative Agent, any Lender, any L/C
Issuer or any of their respective Affiliates on a nonconfidential basis from a source other than a Borrower. For purposes of this Section, “Information” means all information received from a Borrower or any Subsidiary relating to the
Borrowers or any Subsidiary or any of their respective businesses, or from the Administrative Agent relating to a Borrower or any Subsidiary or any of their respective businesses, other than any such information that is available to the
Administrative Agent, any Lender or any L/C Issuer on a nonconfidential basis prior to disclosure by the Borrowers, any Subsidiary, or the Administrative Agent; provided that, in the case of information received from the Borrowers or any
Subsidiary after the date hereof, such information shall be deemed confidential unless marked “PUBLIC”. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have
complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

Each of the Administrative Agent, the Lenders and the L/C Issuers acknowledges that (a) the Information may include material non-public information concerning the Borrowers 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 and Canadian federal and provincial
securities laws. 
 Section 11.08. Right of Setoff. If an Event of Default shall have occurred and be continuing, each
Lender, each L/C Issuer and each of their respective Affiliates is hereby authorized at any time and from time to time, after obtaining the prior written consent of the Administrative Agent, to the fullest extent permitted by applicable Law, to set
off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender, such L/C Issuer or any such Affiliate
to or for the credit or the account of a Borrower against any and all of the obligations of such Borrower now or hereafter existing under this Agreement or any other Loan Document to such Lender or such L/C Issuer or their respective Affiliates,
irrespective of whether or not such Lender, L/C Issuer or Affiliate shall have made any demand under this Agreement or any other Loan Document and although such obligations of such Borrower may be contingent or unmatured or are owed to a branch,
office or Affiliate of such Lender or such L/C Issuer different from the branch, office or Affiliate holding such deposit or obligated on such indebtedness; provided, that in the event that any Defaulting Lender shall exercise any such right
of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.13 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, the L/C Issuers 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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The rights of each Lender, each L/C Issuer and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender,
such L/C Issuer or their respective Affiliates may have. Each Lender and each L/C Issuer agrees to notify the Borrowers and the Administrative Agent promptly after any such setoff and application, provided that the failure to give such notice
shall not affect the validity of such setoff and application. 
 Section 11.09. Interest Rate Limitation. Notwithstanding
anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law
(the “Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid
principal, refunded to the Borrowers. In determining whether the interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law,
(a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal
parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 
 Section 11.10. Counterparts;
Integration; 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. This Agreement, the other Loan Documents, and any separate letter agreements with respect to fees payable to the Administrative Agent, any L/C Issuer or the Swing Line Lender, constitute the entire contract among the parties
relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, 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 that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an
executed counterpart of a signature page of this Agreement by facsimile or other electronic imaging means (e.g., “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this
Agreement. 
 Section 11.11. Survival of Representations and Warranties. 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 and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or
knowledge of any Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding. 

  
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 Section 11.12. Severability. If any provision of this Agreement or the
other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby and
(b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable
provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section 11.12,
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, an L/C Issuer or the Swing Line Lender,
as applicable, then such provisions shall be deemed to be in effect only to the extent not so limited. 
 Section 11.13.
Replacement of Lenders. If a Borrower is entitled to replace a Lender pursuant to the provisions of Section 3.06, or if any Lender is a Defaulting Lender or a
Non-Consenting Lender or if any other circumstance exists hereunder that gives the Borrowers the right to replace a Lender as a party hereto, then the Borrowers may, at their 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, Section 11.06),
all of its interests, rights (other than its existing rights to payments pursuant to Sections 3.01 and 3.04) and obligations under this Agreement and the related Loan Documents to an Eligible Assignee that shall assume such obligations
(which assignee may be another Lender, if a Lender accepts such assignment), provided that: 
 (a) the Borrowers shall have paid to
the Administrative Agent the assignment fee (if any) specified in Section 11.06(b) (unless such Eligible Assignee is already a Lender); 

(b) such Lender shall have received payment of an amount equal to 100% of the outstanding principal of its Loans and L/C Advances, accrued
interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 3.05) from the assignee (to the extent of such outstanding principal and accrued interest and
fees) or the applicable Borrower (in the case of all other amounts); 
 (c) in the case of any such assignment resulting from a claim for
compensation under Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter; 

(d) such assignment does not conflict with applicable Laws; 

(e) in the case of an assignment resulting from a Lender becoming a Non-Consenting Lender, the
applicable assignee shall have consented to the applicable amendment, waiver or consent; and 
 (f) in the case of an assignment resulting
from a Lender becoming a Non-Extending Lender, the Borrowers shall have received the consent of the applicable assignee to the applicable Extension Request. 

  
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 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 Borrowers to require such assignment and delegation cease to apply. Each Lender agrees that, if the Borrowers elects to replace such Lender in accordance with this
Section 11.13, upon receipt by such Lender being replaced of all amounts required to be paid to it pursuant to the terms hereof, it shall promptly execute and deliver to the Administrative Agent an Assignment and Assumption
to evidence the assignment and shall deliver to the Administrative Agent any Note (if Notes have been issued in respect of such Lender’s Loans) subject to such Assignment and Assumption; provided, that the failure of any such Lender to execute
an Assignment and Assumption shall not render such assignment invalid and such assignment shall be recorded in the Register. 

Section 11.14. Keepwell. 

At the time the Guarantee or the grant of the security interest under the Loan Documents, in each case, by any Specified Loan Party, becomes
effective with respect to any Swap Obligation, each Borrower hereby jointly and severally, absolutely, unconditionally and irrevocably undertakes to provide such funds or other support to each Specified Loan Party with respect to such Swap
Obligation as may be needed by such Specified Loan Party from time to time to honor all of its obligations under its Guaranty and the other Loan Documents in respect of such Swap Obligation (but, in each case, only up to the maximum amount of such
liability that can be hereby incurred without rendering any Borrower’s obligations and undertakings under this Section 11.14, or otherwise under this Agreement, voidable under applicable Law, including applicable Law
of fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations and undertakings of the Borrowers under this Section shall remain in full force and effect until the Obligations have been indefeasibly paid and
performed in full. Each Borrower intends this Section to constitute, and this Section shall be deemed to constitute, a guarantee of the obligations of, and a “keepwell, support, or other agreement” for the benefit of, each Specified Loan
Party for all purposes of the Commodity Exchange Act. 
 Section 11.15. Governing Law; Jurisdiction; Etc. 

(a) GOVERNING LAW. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN
CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN) AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 (b) SUBMISSION TO JURISDICTION. EACH BORROWER
IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT COMMENCE ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST THE ADMINISTRATIVE AGENT, ANY LENDER,
THE SWING LINE LENDER, ANY L/C ISSUER, OR ANY RELATED PARTY OF THE FOREGOING IN ANY WAY RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS RELATING HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE OF NEW YORK
SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO 

  
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IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION, LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH
NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION, LITIGATION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER
JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, ANY LENDER, THE SWING LINE LENDER OR ANY L/C ISSUER MAY
OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST EITHER BORROWER OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(c) WAIVER OF VENUE. EACH BORROWER IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE
PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 

(d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN
SECTION 11.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. The Canadian Borrower hereby irrevocably appoints the US Borrower (the
“Process Agent”), as its agent to receive on its behalf and on behalf of its property service of copies of any summons or complaint or any other process which may be served in any action. Such service may be made by mailing or
delivering a copy of such process to the Canadian Borrower in care of the Process Agent and the Canadian Borrower hereby irrevocably authorizes and directs the Process Agent to accept such service on its behalf. As an alternative method of service,
the Canadian Borrower also irrevocably consents to the service of any and all process in any such action or proceeding by the mailing of copies of such process to it at the address specified for it on Schedule 11.02. 

Section 11.16. 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 

  
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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 SECTION. 

Section 11.17. 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), each 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 Joint Lead Arrangers and the Lenders are arm’s-length commercial transactions between each Borrower and their respective
Affiliates, on the one hand, and the Administrative Agent, the Joint Lead Arrangers and the Lenders, on the other hand, (B) each Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed
appropriate, and (C) each 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) the Administrative Agent, each
Joint Lead Arranger and each Lender 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 either Borrower
or any of their Affiliates, or any other Person and (B) neither the Administrative Agent, any Joint Lead Arranger nor any Lender has any obligation to either Borrower or any of their 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, each Joint Lead Arranger and the Lenders and their respective Affiliates may be engaged in a broad range of
transactions that involve interests that differ from those of the Borrowers and their respective Affiliates, and none of the Administrative Agent, any Joint Lead Arranger or any Lender has any obligation to disclose any of such interests to either
Borrower or any of their Affiliates. To the fullest extent permitted by Law, each Borrower hereby waives and releases any claims that it may have against the Administrative Agent, any Joint Lead Arrange or any Lender with respect to any breach or
alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 
 Section 11.18.
Electronic Execution. This Agreement, any Loan Document and any other Communication, including Communications required to be in writing, may be in the form of an Electronic Record and may be executed using Electronic Signatures. Each
of the Administrative Agent, the L/C Issuer, the Swing Line Lender, and each Lender (collectively, each a “Credit Party”) and each of the Loan Parties agrees that any Electronic Signature on or associated with any Communication
shall be valid and binding on such Person to the same extent as a manual, original signature, and that any Communication entered into by Electronic Signature, will constitute the legal, valid and binding obligation of such Person enforceable against
such Person in accordance with the terms thereof to the same extent as if a manually executed original signature was delivered. Any Communication may be executed in as many counterparts as necessary or convenient, including both paper and
electronic counterparts, but all such counterparts are one and the same Communication. For the avoidance of doubt, the authorization under this paragraph may include, without limitation, use or acceptance of a manually signed paper
Communication which 

  
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has been converted into electronic form (such as scanned into PDF format), or an electronically signed Communication converted into another format, for transmission, delivery and/or retention.
The Administrative Agent and each of the Document Parties may, at its option, create one or more copies of any Communication in the form of an imaged Electronic Record (“Electronic Copy”), which shall be deemed created in the
ordinary course of such Person’s business, and destroy the original paper document. All Communications in the form of an Electronic Record, including an Electronic Copy, shall be considered an original for all purposes, and shall have the
same legal effect, validity and enforceability as a paper record. Notwithstanding anything contained herein to the contrary, neither the Administrative Agent, L/C Issuer nor Swing Line Lender is under any obligation to accept an Electronic Signature
in any form or in any format unless expressly agreed to by such Person pursuant to procedures approved by it; provided, further, without limiting the foregoing, (a) to the extent the Administrative Agent, L/C Issuer and/or Swing Line Lender has
agreed to accept such Electronic Signature, the Administrative Agent and each of the Document Parties shall be entitled to rely on any such Electronic Signature purportedly given by or on behalf of any Loan Party and/or any Credit Party without
further verification and regardless of the appearance or form of such Electronic Signature, and (b) upon the request of the Administrative Agent or any Credit Party, any Communication executed using an Electronic Signature shall be promptly
followed by a manually executed counterpart. 
 No Credit Party shall be responsible for or have any duty to ascertain or inquire into the
sufficiency, validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document (including, for the avoidance of doubt, in connection with the Administrative Agent’s, L/C Issuer’s or
Swing Line Lender’s reliance on any Electronic Signature transmitted by telecopy, emailed .pdf or any other electronic means). Each Credit Party shall be entitled to rely on, and shall incur no liability under or in respect of this Agreement or
any other Loan Document by acting upon, any Communication or any statement made to it orally or by telephone and believed by it to be genuine and signed or sent or otherwise authenticated (whether or not such Person in fact meets the requirements
set forth in the Loan Documents for being the maker thereof). 
 Each of the Loan Parties and each Credit Party hereby waives (i) any
argument, defense or right to contest the legal effect, validity or enforceability of this Agreement or any other Loan Document based solely on the lack of paper original copies of this Agreement or such other Loan Document, and (ii) any claim
against the Administrative Agent, each Credit Party and each Related Party for any liabilities arising solely from the Administrative Agent’s and/or any Credit Party’s reliance on or use of Electronic Signatures, including any liabilities
arising as a result of the failure of the Loan Parties to use any available security measures in connection with the execution, delivery or transmission of any Electronic Signature. 

Section 11.19. USA PATRIOT Act. Each Lender that is subject to the Act (as hereinafter defined) and the Administrative
Agent (for itself and not on behalf of any Lender) hereby notifies the Borrowers that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26,
2001)) (the “Act”) and pursuant to the requirements of the Proceeds of Crime (Money Laundering and Terrorist Financing Act (Canada)) or any other applicable anti-money laundering, anti-terrorist financing, government sanction
and “know your client” applicable Laws, it is required to obtain, verify and record information that identifies each Loan Party (collectively, including any guidelines or orders thereunder (the “AML 

  
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Legislation”), which information includes, without limitation, the name and address of each Loan Party and other information that will allow such Lender or the Administrative Agent,
as applicable, to identify each Loan Party in accordance with such AML Legislation. Each 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 AML Legislation, including the Act. 

Section 11.20. Judgment Currency. If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum
due hereunder or any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the first currency with such other
currency on the Business Day preceding that on which final judgment is given. The obligation of each Borrower in respect of any such sum due from it to the Administrative Agent or any Lender hereunder or under the other Loan Documents shall,
notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of this Agreement (the “Agreement Currency”), be
discharged only to the extent that on the Business Day following receipt by the Administrative Agent or such Lender, as the case may be, of any sum adjudged to be so due in the Judgment Currency, the Administrative Agent or such Lender, as the case
may be, may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative Agent or any Lender
from a Borrower in the Agreement Currency, such Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or such Lender, as the case may be, against such loss. If the amount of the
Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent or any Lender in such currency, the Administrative Agent or such Lender, as the case may be, agrees to return the amount of any excess to such
Borrower (or to any other Person who may be entitled thereto under applicable Law). 
 Section 11.21. Lender Representations;
Certain ERISA Matters.  
 (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 not, for the avoidance of doubt, to or for
the benefit of the Borrowers or any other Loan Party, that at least one of the following is and will be true: 
 (i) such
Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the
Loans, the Letters of Credit, the Commitments, or this Agreement, 
 (ii) the transaction exemption set forth in one or more
PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for
certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of, and performance of the Loans, the Letters of Credit, the Commitments, and this
Agreement, 

  
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 (iii) (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 sub-sections (b) through (g) of Part I of PTE 84-14, and (D) to the best knowledge of such Lender, the requirements of subsection
(a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of, and performance of the Loans, the Letters of Credit, the Commitments, and
this Agreement, or 
 (iv) such other representation, warranty, and covenant as may be agreed in writing between the
Administrative Agent, in its sole discretion, and such Lender. 
 (b) In addition, unless either
(1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or (2) a Lender has provided another representation, warranty, and covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date
such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party,
that the Administrative Agent is not a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into, participation in, administration of, and performance of the Loans, the 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 11.22. 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: 
 (a) the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising
hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and 

  
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 (b) the effects of any Bail-in Action on any such
liability, including, if applicable: 
 (i) a reduction in full or in part or cancellation of any such liability; 

(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 
 (iii) the variation of the terms of such liability in
connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority. 
 Section 11.23.
Amendment and Restatement; No Novation; Reallocations. 
 (a) This Agreement constitutes an amendment and restatement of the
Existing Credit Agreement in its entirety effective from and after the Closing Date. For the avoidance of doubt, the execution and delivery of this Agreement shall not constitute a novation of any indebtedness or other obligations owing to any
Lender, any L/C Issuer, or the Administrative Agent under the Existing Credit Agreement. On the Closing Date, (i) the credit facilities described in the Existing Credit Agreement shall be amended, supplemented, modified, and restated in their
entirety by the facilities described herein, (ii) any loans, letters of credit, and other obligations of the Borrowers outstanding as of such date under the Existing Credit Agreement (other than those owing to Exiting Lenders) shall be deemed
to be Loans, Letters of Credit, and Obligations outstanding under the corresponding facilities described herein, without any further action by any Person except as set forth in this Agreement, and (iii) all rights and obligations of the parties
evidenced by the Existing Credit Agreement shall be evidenced by this Agreement and the other Loan Documents. 
 (b) Notwithstanding anything
else to the contrary herein or in any other Loan Document, as of the Closing Date, any “Note” payable to a Lender under the Existing Credit Agreement shall be deemed for all purposes superseded and replaced by the Note (if any) issued to
such Lender under this Agreement, without further action required by any payee thereof, and all “Notes” under the Existing Credit Agreement shall be of no further force and effect. Any obligations under the “Fee Letters” (as
defined in the Existing Credit Agreement and any amendments, restatements, supplements or other modifications thereto) shall be of no further force and effect thereafter and such Fee Letters are hereby terminated except for, in each case, any terms
thereof which expressly survive termination thereof as set forth in that certain Commitment Letter dated August 21, 2014 among the Borrowers, Citigroup Global Markets Inc., and U.S. Bank National Association (the “2014 Commitment
Letter”); provided that no further force or effect shall be given to Section 4 of the 2014 Commitment Letter and any obligations in respect of fees referenced therein are hereby terminated. Any obligations or undertakings of the
Parent Guarantor (as defined under and in the Existing Credit Agreement) under the Parent Guaranty (as defined under and in the Existing Credit Agreement) shall be of no further force and effect and such Parent Guaranty is hereby terminated in its
entirety, and the Parent Guarantor is hereby released, without further action needed. Simultaneously with the effectiveness of this Agreement, after giving effect thereto, the Commitment of each Lender shall be as set forth on Schedule 2.01,
and the amount of all outstanding Loans and participations in Letters of Credit and Swing Line Loans shall be reallocated among the Lenders in accordance 

  
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with their respective Commitments. Each Lender hereby authorizes the Administrative Agent and the Borrowers to request Borrowings, make prepayments of Existing Loans, reduce Existing Commitments,
and effect such reallocations as are necessary to ensure that upon the effectiveness of this Agreement, the Loans and Commitments of the Lenders shall be outstanding on a ratable basis in accordance with their respective Applicable Percentages. 

(c) The Administrative Agent and Existing Lenders that are Lenders hereby irrevocably waive any applicable notice under the Existing Credit
Agreement or any other Loan Document in connection with this Agreement. In addition, for the avoidance of doubt, any basket which permits a certain amount of a given type of transaction over the life of the Existing Credit Agreement (however
denominated), without being deemed to prohibit any transaction occurring prior to the Closing Date, shall be reset to cover the time period from the Closing Date until the latest Maturity Date (as modified from time to time). 

Section 11.24. ENTIRE AGREEMENT. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE
PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 

Section 11.25. No General Partner’s Liability. It is hereby understood and agreed that the
General Partner shall have no personal liability, as general partner or otherwise, for the payment of any amount owing or to be owing hereunder or under the other Loan Documents. The Administrative Agent and the Lenders agree for themselves and
their respective successors and assigns that no claim arising against any Borrower under any Loan Document with respect to the Obligations shall be asserted against the General Partner (in its individual capacity). 

Section 11.26. Acknowledgment Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through
a guarantee or otherwise, for any Swap Contract or any other agreement or instrument that is a QFC (such support, “QFC Credit Support” and each such QFC, a “Supported QFC”), the parties acknowledge and agree as
follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations
promulgated thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact
be stated to be governed by the laws of the State of New York and/or of the United States or any other state of the United States): 
 (a) In
the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit
Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as
the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the
United 

  
 -162- 

 
States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that
might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution
Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect
to a Defaulting Lender shall in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support. 

(b) As used in this Section 11.26, the following terms have the following meanings: 

“BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance
with, 12 U.S.C. 1841(k)) of such party. 
 “Covered Entity” means any of the following: 

(i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b);

 (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b);
or 
 (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. §
382.2(b). 
 “Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12
C.F.R. §§ 252.81, 47.2 or 382.1, as applicable. 
 “QFC” has the meaning assigned to the term
“qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D). 
 [SIGNATURE PAGES
FOLLOW.] 

  
 -163- 

 ANNEX B 

Assigned Liens 
  

	1.	 Security Agreement dated October 15, 2014, among USD Partners LP, USD Terminals Canada ULC, USD Logistics
Operations GP LLC, USD Logistics Operations LP, West Colton Rail Terminal LLC, San Antonio Rail Terminal LLC, USD Terminals International S.à r.l., USD Rail LP, USD Rail International S.à r.l., and USD Rail Canada ULC, in each case, as
a Debtor thereunder, and Citibank, N.A., as Administrative Agent, as amended, restated, amended and restated, supplemented or otherwise modified prior to the date hereof, including pursuant to (a) that certain Supplement No. 1 to Security
Agreement and Guaranty dated November 12, 2015, between USDP CCR LLC, as New Debtor, and Citibank, N.A., as Administrative Agent, (b) that certain Supplement No. 2 to Security Agreement and Guaranty dated December 17, 2015,
between CCR Pipeline, LLC, as New Debtor, and Citibank, N.A., as Administrative Agent, (c) that certain Supplement No. 3 to Security Agreement and Guaranty dated December 17, 2015, between Casper Crude to Rail, LLC, as New Debtor, and
Citibank, N.A., as Administrative Agent, (d) that certain Supplement No. 4 to Security Agreement and Guaranty dated February 12, 2016, between USDP Finance Corp., as New Debtor, and Citibank, N.A., as Administrative Agent,
(e) that certain Supplement No. 5 to Security Agreement and Guaranty dated June 20, 2017, among Stroud Crude Terminal LLC, as New Debtor, USD Logistics Operations LP, as holder of Pledged Equity (as defined therein) in Stroud Crude
Terminal LLC, and Citibank, N.A., as Administrative Agent, (f) that certain Supplement No. 6 to Security Agreement and Guaranty dated June 20, 2017, among SCT Pipeline LLC, as New Debtor, Stroud Crude Terminal LLC, as holder of
Pledged Equity (as defined therein) in SCT Pipeline LLC, and Citibank, N.A., as Administrative Agent, and (g) that certain Amended and Restated Security Agreement dated November 2, 2018, among USD Partners LP, USD Terminals Canada ULC, USD
Logistics Operations GP LLC, USD Logistics Operations LP, West Colton Rail Terminal LLC, San Antonio Rail Terminal LLC, USD Terminals International S.à r.l., USD Rail LP, USD Rail International S.à r.l., USD Rail Canada ULC, USDP
Finance Corp., Stroud Crude Terminal LLC, SCT Pipeline LLC, USDP CCR LLC, Casper Crude to Rail, LLC, and CCR Pipeline, LLC, in each case as a Debtor thereunder, and Citibank, N.A., as Administrative Agent. 

 

	2.	 Fixed and Floating Charge Demand Debenture (USD Terminals Canada ULC) dated October 15, 2014, from USD
Terminals Canada ULC in favor of Citibank, N.A., as Agent, duly registered in the Alberta Land Titles Office as Instrument No. 142 358 139, as amended, restated, amended and restated, supplemented, confirmed, or otherwise modified prior to the
date hereof, including pursuant to that Confirmation of Security dated November 2, 2018, by USD Terminals Canada ULC to the Lender and other Secured Parties, and Citibank, N.A., as Agent. 

 

	3.	 Fixed and Floating Charge Demand Debenture (USD Rail Canada ULC) dated October 15, 2014, from USD Rail
Canada ULC in favor of Citibank, N.A., as Agent, as amended, restated, amended and restated, supplemented, confirmed, or otherwise modified prior to the date hereof, including pursuant to that Confirmation of Security dated November 2, 2018, by
USD Rail Canada ULC to the Lender and other Secured Parties, and Citibank, N.A., as Agent. 

	4.	 Debenture Pledge Agreement made as of October 15, 2014, by USD Terminals Canada ULC, as Debtor, in favor
of Citibank, N.A., as Agent, as amended, restated, amended and restated, supplemented, confirmed, or otherwise modified prior to the date hereof, including pursuant to that Confirmation of Security dated November 2, 2018, by USD Terminals
Canada ULC to the Lender and other Secured Parties, and Citibank, N.A., as Agent. 

  

	5.	 Debenture Pledge Agreement made as of October 15, 2014, by USD Rail Canada ULC, as Debtor, in favor of
Citibank, N.A., as Agent, as amended, restated, amended and restated, supplemented, confirmed, or otherwise modified prior to the date hereof, including pursuant to that Confirmation of Security dated November 2, 2018, by USD Rail Canada ULC to
the Lender and other Secured Parties, and Citibank, N.A., as Agent. 

  

	6.	 Deposit Account Pledge Agreement dated October 15, 2014, between USD Rail International S.à r.l.,
as Pledgor, and Citibank, N.A., as Collateral Agent, as amended, restated, amended and restated, supplemented, confirmed, or otherwise modified prior to the date hereof, including pursuant to that Master Security Confirmation Agreement dated
November 2, 2018, among USD Logistics Operations LP, USD Rail LP, USD Terminals International S.à r.l., USD Rail International S.à r.l., and Citibank, N.A., as the Collateral Agent. 

 

	7.	 Share Pledge Agreement dated October 15, 2014, between USD Rail LP, as Pledgor, and Citibank, N.A., as
Collateral Agent, in the presence of USD Rail International S.à r.l., as Company, as amended, restated, amended and restated, supplemented, confirmed, or otherwise modified prior to the date hereof, including pursuant to that Master Security
Confirmation Agreement dated November 2, 2018, among USD Logistics Operations LP, USD Rail LP, USD Terminals International S.à r.l., USD Rail International S.à r.l., and Citibank, N.A., as the Collateral Agent.

  

	8.	 Receivables Pledge Agreement dated October 15, 2014, between USD Rail International S.à r.l., as
Pledgor, and Citibank, N.A., as Collateral Agent, as amended, restated, amended and restated, supplemented, confirmed, or otherwise modified prior to the date hereof, including pursuant to that Master Security Confirmation Agreement dated
November 2, 2018, among USD Logistics Operations LP, USD Rail LP, USD Terminals International S.à r.l., USD Rail International S.à r.l., and Citibank, N.A., as the Collateral Agent. 

 

	9.	 Deposit Account Pledge Agreement dated October 15, 2014, between USD Terminals International S.à
r.l., as Pledgor, and Citibank, N.A., as Collateral Agent, as amended, restated, amended and restated, supplemented, confirmed, or otherwise modified prior to the date hereof, including pursuant to that Master Security Confirmation Agreement dated
November 2, 2018, among USD Logistics Operations LP, USD Rail LP, USD Terminals International S.à r.l., USD Rail International S.à r.l., and Citibank, N.A., as the Collateral Agent. 

 

	10.	 Share Pledge Agreement dated October 15, 2014, between USD Logistics Operations LP, as Pledgor, and
Citibank, N.A., as Collateral Agent, in the presence of USD Terminals International S.à r.l., as Company, as amended, restated, amended and restated, supplemented, confirmed, or otherwise modified prior to the date hereof, including pursuant
to that Master Security Confirmation Agreement dated November 2, 2018, among USD Logistics Operations LP, USD Rail LP, USD Terminals International S.à r.l., USD Rail International S.à r.l., and Citibank, N.A., as the Collateral
Agent. 

  
 -2- 

	11.	 Receivables Pledge Agreement dated October 15, 2014, between USD Terminals International S.à r.l.,
as Pledgor, and Citibank, N.A., as Collateral Agent, as amended, restated, amended and restated, supplemented, confirmed, or otherwise modified prior to the date hereof, including pursuant to that Master Security Confirmation Agreement dated
November 2, 2018, among USD Logistics Operations LP, USD Rail LP, USD Terminals International S.à r.l., USD Rail International S.à r.l., and Citibank, N.A., as the Collateral Agent. 

 

	12.	 Blocked Account Agreement dated January 6, 2015, among USD Terminals Canada ULC, as Canadian Borrower,
Citibank, N.A., as Agent, and Bank of Montreal, as Bank. 

  

	13.	 Bank Deposit Account Control Agreement dated November 20, 2014, among USD Logistics Operations LP, USD
Terminals Canada ULC, USD Rail Canada ULC, and USD Rail LP, in each case, a Debtor (collectively, the “Original Debtors”), Citibank, N.A., as Administrative Agent, and BOKF, N.A., as Bank, as amended, restated, amended and restated,
supplemented or otherwise modified prior to the date hereof, including pursuant to that First Amendment to Bank Deposit Account Control Agreement dated January 13, 2016, among the Original Debtors, Casper Crude to Rail, LLC, as Customer,
Citibank, N.A., as Lender, and BOKF, N.A., as Bank, that Second Amendment to Bank Deposit Account Control Agreement dated October 31, 2016, among the Original Debtors, Casper Crude to Rail, LLC, CCR Pipeline, LLC, as Customer, Citibank, N.A.,
as Lender, and BOKF, NA, as Bank, and that Third Amendment to Bank Deposit Account Control Agreement dated June 20, 2017, among the Original Debtors, Casper Crude to Rail, LLC, CCR Pipeline, LLC, Stroud Crude Terminal LLC, as a Customer, SCT
Pipeline LLC, as a Customer, Citibank, N.A., as Lender, and BOKF, NA, as Bank. 

  
 -3- 

	14.	 UCC-1 Financing Statements from the following Debtors, in favor of
Citibank, N.A., as Secured Party, filed as follows: 

  

							
	 Debtor
	  	 Instrument No.
	  	 Filing Date
	  	 Filing Type

	
	Delaware Secretary of State
				
	USD Rail LP	  	 2014 4149167
  

as continued by Instrument No. 20195465591
	  	 10/15/2014
  

on 8/07/2019
	  	All Assets
	  	2018 7618594	  	11/02/2018	  	All Assets
				
	San Antonio Rail Terminal LLC	  	 2014 4149324
  

as continued by Instrument No. 20195465559
	  	 10/15/2014
  

on 8/07/2019
	  	All Assets
	  	2018 7618586	  	11/02/2018	  	All Assets
				
	West Colton Rail Terminal LLC	  	 2014 4149456
  

as continued by Instrument No. 2019 5465583
	  	 10/15/2014
  

on 8/07/2019
	  	All Assets
	  	2018 7618560	  	11/02/2018	  	All Assets
				
	USD Logistics Operations GP LLC	  	 2014 4149530
  

as continued by Instrument No. 2019 5465567
	  	 10/15/2014
  

on 8/07/2019
	  	All Assets
	  	2018 7618503	  	11/02/2018	  	All Assets
				
	USD Logistics Operations LP	  	 2014 4149639
  

as continued by Instrument No. 2019 5465542
	  	 10/15/2014
  

on 8/07/2019
	  	All Assets
	  	2018 7618529	  	11/02/2018	  	All Assets
				
	USD Partners LP	  	 2014 4149662
  

as continued by Instrument No. 2019 5465534
	  	 10/15/2014
  

on 8/07/2019
	  	All Assets
	  	2018 7618495	  	11/02/2018	  	All Assets
				
	USDP CCR LLC	  	 2015 5341366
  

as continued by Instrument No. 2020 7448691
	  	 11/13/2015
  

on 10/26/2020
	  	All Assets
	  	2018 7618602	  	11/02/2018	  	All Assets
				
	CCR Pipeline, LLC	  	 2015 6133838
  

as continued by Instrument No. 2020 7448709
	  	 12/18/2015
  

on 11/2/2018
	  	All Assets
	  	2018 7618636	  	11/02/2018	  	All Assets

  
 -4- 

							
	USDP Finance Corp.	  	 2016 0881001
  

as continued by Instrument No. 202008729115
	  	 2/12/2016
  

on 12/11/2020
	  	All Assets
	  	2018 7618677	  	11/02/2018	  	All Assets
				
	Stroud Crude Terminal LLC	  	2017 4047210	  	6/20/2017	  	All Assets
	  	2018 7618685	  	11/02/2018	  	All Assets
				
	SCT Pipeline LLC	  	2017 4047269	  	6/20/2017	  	All Assets
	  	2018 7618693	  	11/02/2018	  	All Assets
	
	Oklahoma Secretary of State
				
	SCT Pipeline LLC	  	2235.1	  	11/16/2017	  	Transmitting Utility
	
	Texas Secretary of State
				
	USD Terminals Canada ULC	  	18-0038836320	  	11/02/2018	  	All Assets
				
	USD Rail Canada ULC	  	18-0038836209	  	11/02/2018	  	All Assets
	
	Wyoming Secretary of State
				
	Casper Crude to Rail, LLC	  	2015-61288943	  	12/22/2015	  	All Assets
	  	2018-12116919	  	11/05/2018	  	All Assets
				
	Casper Crude to Rail, LLC	  	2016-62247131	  	4/19/2016	  	Transmitting Utility
	
	Washington DC Recorder of Deeds
				
	USD Rail Canada ULC	  	 2014095065
  

as continued by Instrument No. 2019083357
	  	 10/16/2014
  

on 8/07/2019
	  	All Assets
	  	2018110586	  	11/05/2018	  	All Assets
				
	USD Terminals Canada ULC	  	 2014095066
  

as continued by Instrument No. 2019083356
	  	 10/16/2014
  

on 8/07/2019
	  	All Assets
	  	2018110583	  	11/05/2018	  	All Assets
				
	USD Rail International S.à r.l.	  	 2014095067
  

as continued by Instrument No. 2019083358
	  	 10/16/2014
  

on 8/07/2019
	  	All Assets
	  	2018110585	  	11/05/2018	  	All Assets
				
	USD Terminals International S.à r.l.	  	 2014095068
  

as continued by Instrument No. 2019083355
	  	 10/16/2014
  

on 8/07/2019
	  	All Assets
	  	2018110584	  	11/05/2018	  	All Assets

  
 -5- 

	15.	 Personal Property Security Act Filings from the following Loan Parties, in favor of Citibank, N.A., as Secured
Party, filed as follows: 

  

							
	 Loan Party
	  	 Registration Number
	  	 Registration Date
	  	 Registration Type

	
	Province of Alberta – Personal Property Registry
				
	USD Terminals Canada ULC	  	 14101407392
  
	  	 10/14/2014
  
	  	Security Agreement
	  	14101407469	  	10/14/2014	  	Land Charge
				
	USD Rail Canada ULC	  	 14101407486
  
	  	 10/14/2014
  
	  	Security Agreement
	  	14101407518	  	10/14/2014	  	Land Charge
	
	Province of British Columbia – Personal Property Registry
				
	USD Terminals Canada ULC	  	 2301721
  

as renewed and extended by 049946L
	  	 10/14/2014
  

on 9/26/2018
	  	Security Agreement
				
	USD Rail Canada ULC	  	 230171I
  

as renewed and extended by 049951L
	  	 10/14/2014
  

on 9/26/2018
	  	Security Agreement

  

	16.	 Consent to Assignment of
Right-of-Way and Easement Agreement dated as of March 29, 2016, by Karst Holdings LLC and Casper Crude to Rail, LLC, duly filed of record in Natrona County, Wyoming
on April 14, 2016, under Document No. 1010225. 

  

	17.	 Ground Lessor’s Estoppel Certificate dated March 4, 2016, by Susan L. Bishop Investment Properties
LLC to Citibank, N.A., as Administrative Agent, duly filed of record in Natrona County, Wyoming on April 14, 2016, under Document No. 1010226. 

  

	18.	 Leasehold Mortgage, Security Agreement, Fixtures Financing Statement,
As-Extracted Collateral Financing Statement and Assignment of Rents and Leases dated April 7, 2016, from Casper Crude to Rail, LLC, as Mortgagor, to Citibank, N.A., as Mortgagee, duly filed of record in
Natrona County, Wyoming on April 14, 2016, under Document No. 1010227, as amended, restated, amended and restated, supplemented, reaffirmed, or otherwise modified prior to the date hereof, including pursuant to that certain Reaffirmation
and Amendment to Leasehold Mortgage, Security Agreement, Fixtures Financing Statement, As-Extracted Collateral Financing Statement and Assignment of Rents and Leases dated November 2, 2018, between Casper
Crude to Rail, LLC, as Mortgagor, and Citibank, N.A., as Administrative Agent, duly filed of record in Natrona County, Wyoming on November 8, 2018, under Document No. 1055996. 

 

	19.	 Mortgage, Security Agreement, Fixtures Financing Statement,
As-Extracted Collateral Financing Statement and Assignment of Rents and Leases dated as of April 7, 2016, from Casper Crude to Rail, LLC, as Mortgagor, to Citibank, N.A., as Mortgagee, duly filed of
record in Natrona County, Wyoming on April 14, 2016, under Document No. 1010228, as amended, restated, amended and restated, supplemented, reaffirmed, or otherwise modified prior to the date hereof, including pursuant to that certain
Reaffirmation and Amendment of Mortgage, Security Agreement, Fixtures Financing Statement, As-Extracted Collateral Financing Statement and Assignment of Rents and Leases dated November 2, 2018, between
Casper Crude and Rail, LLC, as Mortgagor, and Citibank, N.A., as Administrative Agent, duly filed of record in Natrona County, Wyoming on November 8, 2018, under Document No. 1055997. 

  
 -6- 

	20.	 UCC-1 Fixture Filing filed in connection with items 18 and 19 above,
naming Casper Crude to Rail, LLC, as Debtor, and Citibank, N.A., as Secured Party, duly filed of record in Natrona County, Wyoming on April 14, 2016, under Document No. 1010229, as continued by UCC-3
Continuation Statement duly filed of record in Natrona County, Wyoming on December 10, 2020, under Document No. 1094281. 

  

	21.	 Estoppel Certificate by the Stroud Utilities Authority dated June 26, 2017, duly filed of record in
Lincoln County, Oklahoma on June 30, 2017, under Document No. I-2017-004982, Book 2257, Page 777. 

  

	22.	 Mortgage, Assignment, Security Agreement and Fixture Filing dated as of June 28, 2017 by Stroud Crude
Terminal LLC, as Mortgagor in favor of Citibank, N.A., as Mortgagee, duly filed of record in Lincoln County, Oklahoma on June 30, 2017, under Document No. I-2017-004984; Book 2258, Page 1, as amended,
restated, amended and restated, supplemented, reaffirmed, or otherwise modified prior to the date hereof, including pursuant to that certain Reaffirmation and Amendment of Mortgage, Assignment, Security Agreement and Fixture Filing dated as of
November 2, 2018 by Stroud Crude Terminal LLC, as Mortgagor in favor of Citibank, N.A., as Mortgagee, duly filed of record in Lincoln County, Oklahoma on November 14, 2018, under Document No.
I-2018-007557, Book 2313, Page 277. 

  

	23.	 UCC-1 Fixture Filing filed in connection with item 22 above, naming
Stroud Crude Terminal LLC, as Debtor, and Citibank, N.A., as Secured Party, duly filed of record in Lincoln County, Oklahoma on June 30, 2017, under Document No. I-2017-004985, Book 2258, Page 30.

  

	24.	 UCC-1 Fixture Filing filed in connection with item 22 above, naming
Stroud Crude Terminal LLC, as Debtor, and Citibank, N.A., as Secured Party, duly filed of record in the Central Filing Index in Oklahoma County, Oklahoma on June 30, 2017, under Document No. 20170630020670090. 

 

	25.	 Mortgage, Assignment, Security Agreement and Fixture Filing dated as of October 30, 2017 by SCT Pipeline
LLC, as Mortgagor, in favor of Citibank, N.A., as Mortgagee, duly filed of record in Lincoln County, Oklahoma on November 16, 2017, under Document No. I-2017-008411; Book 2274, Page 101, as amended,
restated, amended and restated, supplemented, reaffirmed, or otherwise modified prior to the date hereof, including pursuant to that certain Reaffirmation and Amendment of Mortgage, Assignment, Security Agreement and Fixture Filing dated
November 2, 2018, by SCT Pipeline LLC, as Mortgagor, in favor of Citibank, N.A., as Mortgagee, duly filed of record in Lincoln County, Oklahoma on November 14, 2018, under Document No. I-2018-007558,
Book 2313, Page 287. 

  

	26.	 UCC-1 Fixture Filing filed in connection with item 25 above, naming SCT
Pipeline LLC, as Debtor, and Citibank, N.A., as Secured Party, duly filed of record in Lincoln County, Oklahoma on November 16, 2017, under Document No. I-2017-008414; Book 2274, Page 147.

  
 -7- 

	27.	 UCC-1 Fixture Filing filed in connection with item 25 above, naming SCT
Pipeline LLC, as Debtor, and Citibank, N.A., as Secured Party, duly filed of record in the Central Filing Index in Oklahoma County, Oklahoma on November 15, 2017, under Document No. 20171115021158350. 

  
 -8- 

 SCHEDULE 2.01 

Commitments and Applicable Percentages 

At no time shall any Lender’s aggregate Commitment exceed the Commitment set forth for such Lender in the Commitment column below. 

 

									
	 Lender
	  	Commitment	 	  	Applicable
Percentage	 
	 Bank of Montreal
	  	$	70,000,000.00	 	  	 	25.454545454	% 
	 U.S. Bank National Association
	  	$	70,000,000.00	 	  	 	25.454545454	% 
	 Citibank, N.A.
	  	$	43,000,000.00	 	  	 	15.636363636	% 
	 MUFG Bank Ltd.
	  	$	28,500,000.00	 	  	 	10.363636363	% 
	 Sumitomo Mitsui Banking Corporation
	  	$	28,500,000.00	 	  	 	10.363636363	% 
	 First Horizon Bank
	  	$	20,000,000.00	 	  	 	7.272727272	% 
	 Goldman Sachs Bank USA
	  	$	15,000,000.00	 	  	 	5.454545454	% 
	 TOTAL
	  	$	275,000,000.00	 	  	 	100	% 

 Schedule 11.02 – Administrative Agent’s Office; Certain Addresses for Notices

 Borrowers: 
 USD Partners LP 

Attention: Adam Altsuler 
 811 Main Street, Suite 2800 

Houston, Texas 77002 
 Facsimile: ###.###.#### 

Electronic Mail: ################## 
 USD Terminals Canada ULC

 Attention: Adam Altsuler 
 811 Main Street, Suite 2800 

Houston, Texas 77002 
 Facsimile: ###.###.#### 

Electronic Mail: ################## 
 Administrative Agent,
L/C Issuer or Swing Line Lender: 
 Bank of Montreal 
 111
W. Monroe Street 
 Chicago, IL 60603 
 Attention: Tamara Spears

 Phone: ###.###.#### 
 Fax: ###.###.#### 

Borrower Inquiries and Notifications: #################### 
 With
a copy to: 
 Bank of Montreal 
 Attention: Jason Deegan 

111 W. Monroe Street 
 Chicago, IL 60603 

Phone: ###.###.#### 
 Fax: ###.###.#### 

Electronic Mail: #################### 

 EXHIBIT A 

FORM OF LOAN NOTICE 
 Date:
___________, _____ 
 To: Bank of Montreal, as Administrative Agent 

Ladies and Gentlemen: 
 Reference is made to that
certain Amended and Restated Credit Agreement, dated as of November 2, 2018 (as amended, restated, amended and restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms
defined therein being used herein as therein defined to the extent not otherwise defined herein), among USD Partners LP, a Delaware limited partnership (the “US Borrower”), USD Terminals Canada ULC, an unlimited liability company
subsisting under the laws of the Province of British Columbia, Canada (the “Canadian Borrower” and together with the US Borrower, the “Borrowers” and each, a “Borrower”), each Lender from time to
time party thereto, Bank of Montreal, as administrative agent (in such capacity, the “Administrative Agent”), Swing Line Lender, and an L/C Issuer, U.S. Bank National Association, as an L/C Issuer, and Citibank, N.A., as an L/C
Issuer. 
 The undersigned hereby requests in the capacity listed below and not in any individual capacity (select one): 

☐ A Borrowing 
  

	 	1.	 By [Canadian Borrower][US Borrower]. 

 

	 	2.	 On
                                         
                                         
                       (a Business Day). 

  

	 	3.	 In the amount of
$                                         
                

  

	 	4.	 Comprised of [Base Rate Loans][Eurocurrency Rate Loans]. 

 

	 	5.	 For Eurocurrency Rate Loans: with an Interest Period of         
months 

 ☐ A conversion or continuation of Loans 

 

	 	1.	 By [Canadian Borrower][US Borrower]. 

 

	 	2.	 On
                                         
                                         
                       (a Business Day). 

  

	 	3.	 In the amount of
$                                         
                

  

	 	4.	 Comprised of [Base Rate Loans][Eurocurrency Rate Loans]. 

 

	 	5.	 To be [converted into][continued as] Loans comprised of [Base Rate Loans][Eurocurrency Rate Loans].

  
 Exhibit A to Amended and
Restated Credit Agreement – Form of Loan Notice 
 -1- 

	 	6.	 For Eurocurrency Rate Loans: with an Interest Period of months 

[The Borrowing requested herein complies with clause (i) of the proviso to the first sentence of Section 2.01
of the Agreement.]1 
 [The [US][Canadian]Borrower hereby represents and warrants that
the conditions specified in Sections 4.02(a) and (b) shall be satisfied on and as of the date of the Borrowing requested herein.]2 

[Signature Page Follows.] 

 

	1 	 Include this sentence in the case of a Borrowing. 

	2 	 Include this sentence for a Credit Extension (other than a Loan Notice requiring only a conversion of Loans to
the other Type or a continuation of Eurocurrency Rate Loans). 

  
 Exhibit A to Amended and
Restated Credit Agreement – Form of Loan Notice 
 -2- 

 Executed as of the date first written
above.3 
  

			
	[USD PARTNERS LP]
	
	By: USD Partners GP LLC, its general partner
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	[USD TERMINALS CANADA ULC]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

	3 	 To be executed by a Responsible Officer of the applicable Borrower. 

  
 Exhibit A to Amended and
Restated Credit Agreement – Form of Loan Notice 
 -3- 

 EXHIBIT B 

FORM OF SWING LINE LOAN NOTICE 

Date: ___________, _____ 
 To: Bank of Montreal,
as Administrative Agent 
 Ladies and Gentlemen: 

Reference is made to that certain Amended and Restated Credit Agreement, dated as of November 2, 2018 (as amended, restated, amended and
restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined to the extent not otherwise defined herein), among USD Partners LP,
a Delaware limited partnership (the “US Borrower”), USD Terminals Canada ULC, an unlimited liability company subsisting under the laws of the Province of British Columbia, Canada (the “Canadian Borrower” and
together with the US Borrower, the “Borrowers” and each, a “Borrower”), each Lender from time to time party thereto, Bank of Montreal, as administrative agent (in such capacity, the “Administrative
Agent”), Swing Line Lender, and an L/C Issuer, U.S. Bank National Association, as an L/C Issuer, and Citibank, N.A., as an L/C Issuer. 

The undersigned hereby requests in the capacity indicated below and not in any individual capacity a Swing Line Borrowing: 

 

	 	1.	 By US Borrower. 

  

	 	2.	 On
                                         
                                         
       (a Business Day). 

  

	 	3.	 In the amount of
$                                         
                       . 

The Swing Line Borrowing requested herein complies with clause (x)(i) of the proviso to the first sentence of
Section 2.04(a) of the Agreement. 
 The US Borrower hereby represents and warrants that the conditions specified
in Sections 4.02(a) and (b) shall be satisfied on and as of the date of the Swing Line Borrowing requested herein. 

[Signature Page Follows.] 

  
 Exhibit B to Amended and
Restated Credit Agreement – Form of Swing Line Loan Notice 
 -1- 

 Executed as of the date first written
above.4 
  

			
	USD PARTNERS LP
	
	By: USD Partners GP LLC, its general partner
		
	By:	 	  

	Name:	 	
	Title:	 	

  

	4 	 To be executed by a Responsible Officer of the US Borrower. 

  
 Exhibit B to Amended and
Restated Credit Agreement – Form of Swing Line Loan Notice 
 -2- 

 EXHIBIT C 

FORM OF NOTE 
 ___________,
____ 
 New York, New York 
 FOR VALUE
RECEIVED, the undersigned [USD Partners LP, a Delaware limited partnership][USD Terminals Canada ULC, an unlimited liability company subsisting under the laws of the Province of British Columbia, Canada] (the “[US][Canadian]
Borrower”), hereby promises to pay to _____________________ or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of each Loan from time to
time made by the Lender to the [US][Canadian] Borrower under that certain Amended and Restated Credit Agreement, dated as of November 2, 2018 (as amended, restated, amended and restated, extended, supplemented or otherwise modified in writing
from time to time, the “Agreement;” the terms defined therein being used herein as therein defined to the extent not otherwise defined herein), among [USD Partners LP, a Delaware limited partnership, the Canadian Borrower][the US
Borrower, USD Terminals Canada ULC, an unlimited liability company subsisting under the laws of the Province of British Columbia, Canada] the Lenders from time to time party thereto, Bank of Montreal, as administrative agent (in such capacity, the
“Administrative Agent”), Swing Line Lender, and an L/C Issuer, U.S. Bank National Association, as an L/C Issuer, and Citibank, N.A., as an L/C Issuer. 

The [US][Canadian] Borrower promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such
principal amount is paid in full, at such interest rates and at such times as expressly provided in the Agreement. All payments of principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in
immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment
(and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred
to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part subject to the terms and conditions provided therein. This Note is also entitled to the benefits of the Guaranty and is secured by the Collateral. Upon
the occurrence and continuation of one or more Events of Default, all amounts then remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be
evidenced by the Register maintained by the Administrative Agent. The Lender may also attach schedules to this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 

The [US][Canadian] Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of
protest, demand, dishonor and non-payment of this Note. 

  
 Exhibit C to Amended and
Restated Credit Agreement – Form of Note 
 -1- 

 THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW YORK. 
  

			
	[USD PARTNERS LP]
	
	By: USD Partners GP LLC, its general partner
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	[USD TERMINALS CANADA ULC]
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 Exhibit C to Amended and
Restated Credit Agreement – Form of Note 
 -2- 

 LOANS AND PAYMENTS WITH RESPECT THERETO 

 

													
	 Date
	 	 Type of

Loan Made
	 	 Amount of

Loan Made
	 	 End of

Interest
 Period
	 	 Amount of

Principal or
 Interest Paid

This Date
	 	 Outstanding

Principal
 Balance This

Date
	 	 Notation

Made By

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

		 		 		 		 		 		 	
	  
	 	  
	 	  
	 	  
	 	  
	 	  
	 	  

  
 Exhibit C to Amended and
Restated Credit Agreement – Form of Note 
 -3- 

 EXHIBIT D 

FORM OF COMPLIANCE CERTIFICATE 

Financial Statement Date: ________, ____ 
 To:
Bank of Montreal, as Administrative Agent 
 Ladies and Gentlemen: 

Reference is made to that certain Amended and Restated Credit Agreement, dated as of November 2, 2018 (as amended, restated, amended and
restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined to the extent not otherwise defined herein), among USD Partners LP,
a Delaware limited partnership (the “US Borrower”), USD Terminals Canada ULC, an unlimited liability company subsisting under the laws of the Province of British Columbia, Canada (the “Canadian Borrower” and
together with the US Borrower, the “Borrowers” and each, a “Borrower”), the Lenders from time to time party thereto, Bank of Montreal, as administrative agent (in such capacity, the “Administrative
Agent”), Swing Line Lender, and an L/C Issuer, U.S. Bank National Association, as an L/C Issuer, and Citibank, N.A., as an L/C Issuer. 

The undersigned Financial Officer1 hereby certifies, solely in the official capacity
indicated below and not in any individual capacity, as of the date hereof that he/she is the ___________________________________ of the general partner of the US Borrower, and that, as such, he/she is authorized to execute and deliver this
Compliance Certificate to the Administrative Agent on behalf of the US Borrower, and that: 
 [Use following paragraph 1 for fiscal year-end financial statements] 
 1. The US Borrower has delivered the
year-end audited financial statements required by Section 6.01(a) of the Agreement for the fiscal year of the US Borrower ended as of the above date, together with the report and
opinion of an independent certified public accountant required by such section. 
 [Use following paragraph 1 for fiscal quarter-end financial statements] 
 1. The US Borrower has delivered the unaudited financial
statements required by Section 6.01(b) of the Agreement for the fiscal quarter of the US Borrower ended as of the above date. Such financial statements fairly present the financial condition, results of operations,
partners’ capital, retained earnings and cash flows of the US Borrower and its Restricted Subsidiaries in accordance with GAAP as of such date and for such period, subject only to normal year-end audit
adjustments and the absence of footnotes. 
  
  

	1 	 This certificate should be from the chief executive officer, chief financial officer, treasurer, chief
accounting officer or controller (or equivalent officer of similar responsibilities) of the General Partner acting on behalf of the US Borrower. 

  
 Exhibit D to Amended and
Restated Credit Agreement – Form of Compliance Certificate 
 -1- 

 2. The undersigned has reviewed and is familiar with the terms of the Agreement and has
made, or has caused to be made under his/her supervision, a detailed review of the transactions and condition (financial or otherwise) of the US Borrower during the accounting period covered by such financial statements. 

3. A review of the activities of the US Borrower during such fiscal period has been made under the supervision of the undersigned with a view
to determining whether during such fiscal period the US Borrower performed and observed all its Obligations under the Loan Documents, and 

[select one:] 
 [to the
best knowledge of the undersigned, during such fiscal period the US Borrower performed and observed each covenant and condition of the Loan Documents applicable to it, and no Default has occurred and is continuing.] 

--or-- 

[to the best knowledge of the undersigned, the following covenants or conditions have not been performed or observed and the following is a
list of each such Default and its nature and status:] 
 4. The representations and warranties of the Borrowers and each other Loan Party
contained in Article V of the Agreement or any other Loan Document are true and correct in all material respects (except for such representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be
true and correct in all respects) on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (except for such
representations and warranties that have a materiality or Material Adverse Effect qualification, which shall be true and correct in all respects) as of such earlier date, and except that for purposes of this Compliance Certificate, the
representations and warranties contained in Sections 5.05(a) and (b) of the Agreement shall be deemed to refer to the most recent statements furnished pursuant to Sections 6.01(a) and (b) of the Agreement,
respectively, including the statements in connection with which this Compliance Certificate is delivered. 
 5. The financial covenant
analyses and information set forth on Schedules 1 and 2 attached hereto are true and accurate in all material respects on and as of the date for the financial statements covered by this Compliance Certificate. 

[Signature Page Follows.] 

  
 Exhibit D to Amended and
Restated Credit Agreement – Form of Compliance Certificate 
 -2- 

 IN WITNESS WHEREOF, the undersigned has executed this Compliance Certificate as of
__________ for the period covered as indicated above. 
  

			
	USD PARTNERS LP
	
	By: USD Partners GP LLC, its general partner
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 Exhibit D to Amended and
Restated Credit Agreement – Form of Compliance Certificate 
 -3- 

 For the fiscal quarter/fiscal year ended ______________ _____, ____ (“Statement
Date”) 
 SCHEDULE 1 

to the Compliance Certificate 
 ($
in 000’s) 
  

	I.	 Section 7.11(a) – Consolidated Interest Coverage Ratio. 

 

							
		 	A.	  	Consolidated EBITDA for Measurement Period ended on the Statement Date (“Subject Period”) calculated pursuant to attached Schedule 2:	  	$______
				
		 	B.	  	Consolidated Interest Charges for Subject Period:	  	$______
				
		 	C.	  	Consolidated Interest Coverage Ratio (Line I.A. ÷ Line I.B):	  	____ to 1.00
				
		 		  	Minimum required:	  	2.50 to 1.00

  
 Exhibit D to Amended and
Restated Credit Agreement – Form of Compliance Certificate 
 -4- 

	II.	 Section 7.11(b) – Consolidated Leverage Ratio. 

 

							
		 	A.	  	Consolidated Funded Indebtedness at Statement Date	  	$______
				
		 	B.	  	Consolidated EBITDA for Subject Period (Line I.A. above):	  	$______
				
		 	C.	  	Consolidated Leverage Ratio (Line II.A ÷ Line II.B):	  	____ to 1.00
				
		 		  	Specified Acquisition Period Applicable:	  	 ☐Yes
  

☐No
  

				
		 		  	Qualified Notes outstanding:	  	 ☐Yes
  

☐No

				
		 		  	Maximum permitted:	  	 [5.00 to 1.00]
 [4.50 to 1.00]

[5.50 to 1.00]

  

					
	 	  	 Fiscal Quarters Ending
	  	 Maximum Consolidated

Leverage Ratio

			
	 If Qualified
 Notes are not

outstanding
	  	 During a Specified
 Acquisition
Period
	  	5:00 to 1.00
		  	All other times	  	4.50 to 1.00
			
	 If Qualified
 Notes are

outstanding
	  	 During a Specified
 Acquisition Period
	  	5.50 to 1.00
	  	All other times	  	5.00 to 1.00

  
 Exhibit D to Amended and
Restated Credit Agreement – Form of Compliance Certificate 
 -5- 

							
	 III. [Section 7.11(c) – Consolidated Senior Secured Leverage
Ratio.

				
		  	A.	  	Consolidated Senior Secured Indebtedness at Statement Date:	  	$______
				
		  	B.	  	Consolidated EBITDA for Subject Period (Line I.A. above):	  	$______
				
		  	C.	  	Consolidated Senior Secured Leverage Ratio (Line III.A. ÷ Line III.B):	  	____ to 1.00
				
		  		  	Maximum permitted:	  	 [4.00 to 1.00]
 [3.50 to 1.00]

  

			
	 Fiscal Quarters Ending
	  	Maximum Senior Secured
Leverage Ratio
	 During a Specified Acquisition Period
	  	4:00 to 1.00
	 All other times
	  	3.50 to 1.00]2

  
  

	2 	 Consolidated Senior Secured Leverage Ratio applicable upon and after a Qualified Notes Offering.

  
 Exhibit D to Amended and
Restated Credit Agreement – Form of Compliance Certificate 
 -6- 

							
	 IV.  Applicable Rate – Consolidated Net Leverage
Ratio.

				
		  	A.	  	Consolidated Funded Indebtedness at Statement Date	  	$______
				
		  	B.	  	Unrestricted Cash at Statement Date	  	$______
				
		  	C.	  	Consolidated EBITDA for Subject Period (Line I.A. above):	  	$______
				
		  	D.	  	Consolidated Net Leverage Ratio ((Line IV.A. – Line IV.B.) ÷ Line IV.C):	  	____ to 1.00

  
 Exhibit D to Amended and
Restated Credit Agreement – Form of Compliance Certificate 
 -7- 

 For the fiscal quarter/fiscal year ended _______________ ____, ____ (“Statement
Date”) 
 SCHEDULE 2 

to the Compliance Certificate 
 ($
in 000’s) 
 Consolidated EBITDA 

(in accordance with the definition of Consolidated EBITDA 

as set forth in the Agreement3)4 

 

					
	 Consolidated

EBITDA
	  	 Quarter

Ended
	  	 Twelve

Months
 Ended

	 Consolidated Net Income
	  		  	
			
	 +Consolidated Interest Charges
	  		  	
			
	 +income or withholding Taxes payable
	  		  	
			
	 +depreciation expense and amortization expense
	  		  	
			
	 +charges or expenses (other than depreciation and amortization) directly incurred in connection
with any proposed or consummated issuance of Equity Interests, issuance of Indebtedness, Acquisition or Disposition permitted by the Agreement, in an aggregate amount not to exceed 15% of Consolidated EBITDA5
	  		  	

  

	3 	 For purposes of calculating the Consolidated Leverage Ratio, Consolidated Senior Secured Leverage Ratio and the
Consolidated Interest Coverage Ratio for purposes of Section 7.11: Consolidated EBITDA shall be calculated for each Measurement Period, on a pro forma basis, after giving effect to, without duplication, any Material Acquisition, Material
Disposition or designation of an Unrestricted Subsidiary as a Restricted Subsidiary or of a Restricted Subsidiary as an Unrestricted Subsidiary occurring during each period commencing on the first day of such period to and including the date of such
transaction (the “Reference Period”), as if such Material Acquisition, Material Disposition or designation and any related incurrence or repayment of Indebtedness occurred on the first day of the Reference Period.

	4 	 The descriptions of the components of Consolidated EBTIDA are abbreviated here for convenience and are
qualified in their entirety by the text of the definition appearing in the Agreement. The Agreement should be consulted for the definitive text relating to the calculations depicted here. In the case of any conflict between the text of this
Compliance Certificate and the Agreement, the text of the Agreement shall govern and control in all respects. 

	5 	 As shown on the consolidated financial statements of the US Borrower and the Restricted Subsidiaries most
recently delivered to the Administrative Agent in accordance with Section 6.01 of the Credit Agreement but without giving effect to clause (iv) in the definition of “Consolidated EBITDA” set forth therein. 

  
 Exhibit D to Amended and
Restated Credit Agreement – Form of Compliance Certificate 
 -8- 

					
	 +goodwill or other impairment and other non-cash
charges
	  		  	
			
	 + non-cash losses from Swap Contracts and foreign currency
translations
	  		  	
			
	 + one-time transaction expenses related to the execution
and delivery of the Agreement
	  		  	
			
	 + other expenses reducing such Consolidated Net Income which do not represent a cash item in such
period (in each case of or by the US Borrower and the Restricted Subsidiaries for such Measurement Period)
	  		  	
			
	 + Material Project EBITDA Adjustments, as applicable
	  		  	
			
	 - income Tax credits
	  		  	
			
	 - non-cash items increasing Consolidated Net Income (in
each case of or by the US Borrower and the Restricted Subsidiaries for such Measurement Period)
	  		  	
			
	 - non-cash gains from Swap Contracts and foreign currency
translations
	  		  	
			
	 =Consolidated EBITDA
	  		  	

  

  
 Exhibit D to Amended and
Restated Credit Agreement – Form of Compliance Certificate 
 -9- 

 EXHIBIT E-1 

ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below and is
entered into by and between [the][each]1 Assignor identified in item 1 below ([the][each, an] “Assignor”) and [the][each]2
Assignee identified in item 2 below ([the][each, an] “Assignee”). [It is understood and agreed that the rights and obligations of [the Assignors][the Assignees]3 hereunder are
several and not joint.]4 Unless the context requires otherwise, capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (the
“Credit Agreement”), receipt of a copy of which is hereby acknowledged by [the][each] Assignee. The Standard Terms and Conditions for Assignment and Assumption set forth in Annex 1 attached hereto are hereby agreed to and
incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 
 For an agreed
consideration, [the][each] Assignor hereby irrevocably sells and assigns to [the Assignee][the respective Assignees], and [the][each] Assignee hereby irrevocably purchases and assumes from [the Assignor][the respective Assignors], subject to and in
accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of [the Assignor’s][the respective Assignors’] rights and
obligations in [its capacity as a Lender][their respective capacities as Lenders] under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified
below of all of such outstanding rights and obligations of [the Assignor][the respective Assignors] under the respective facilities identified below (including, without limitation, the Letters of Credit and Swing Line Loans included in such
facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of [the Assignor (in its capacity as a Lender)][the respective Assignors (in their respective capacities
as Lenders)] against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or
related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause
(i) above (the rights and obligations sold and assigned by [the][any] Assignor to [the][any] Assignee pursuant to clauses (i) and (ii) above being referred to herein collectively as [the][an] “Assigned Interest”). Each
such sale and assignment is without recourse to [the][any] Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by [the][any] Assignor. 

 

	1 	 For bracketed language here and elsewhere in this form relating to the Assignor(s), if the assignment is from a
single Assignor, choose the first bracketed language. If the assignment is from multiple Assignors, choose the second bracketed language. 

	2 	 For bracketed language here and elsewhere in this form relating to the Assignee(s), if the assignment is to a
single Assignee, choose the first bracketed language. If the assignment is to multiple Assignees, choose the second bracketed language. 

	3 	 Select as appropriate. 

	4 	 Include bracketed language if there are either multiple Assignors or multiple Assignees. 

  
 Exhibit E-1 to Amended
and Restated Credit Agreement – Form of Assignment and Assumption 
 -1- 

					
	1. Assignor[s]:	  	  
	  	
		  	  
	  	
	2. Assignee[s]:	  	  
	  	
		  	  
	  	

 [for each Assignee, indicate [Affiliate][Approved Fund] of [identify Lender]] 

 

	3.	 Administrative Agent: Bank of Montreal, as the administrative agent under the Credit Agreement

  

	4.	 Credit Agreement: Amended and Restated Credit Agreement, dated as of November 2, 2018 (as amended,
restated, amended and restated, supplemented or otherwise modified from time to time), among USD Partners LP (“US Borrower”) and USD Terminals Canada ULC (“Canadian Borrower” and together with the US Borrower, the
“Borrowers” and each, a “Borrower”), the Lenders from time to time party thereto, Bank of Montreal, as Administrative Agent, Swing Line Lender, and an L/C Issuer, U.S. Bank National Association, as an L/C Issuer,
and Citibank, N.A., as an L/C Issuer 

  

	5.	 Assigned Interest: 

 

											
	
Assignor[s]5
	  	
Assignee[s]6
	  	 Aggregate Amount of
Commitment / Loans
for all Lenders7
	  	 Amount of
Commitment / Loans
Assigned
	  	 Percentage Assigned of
Commitment / Loans 8
	  	 CUSIP

Number

		  		  	$________	  	$________	  	_______%	  	

  

	6.	 [Trade Date: __________________]9 

Effective Date: __________________, 20__ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE
REGISTER THEREFOR.] 
  

	5 	 List each Assignor, as appropriate. 

	6 	 List each Assignee, as appropriate. 

	7 	 Amounts in this column and in the column immediately to the right to be adjusted by the counterparties to take
into account any payments or prepayments made between the Trade Date and the Effective Date. 

	8 	 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder.

	9 	 To be completed if the Assignor and the Assignee intend that the minimum assignment amount is to be determined
as of the Trade Date. 

  
 Exhibit E-1 to Amended
and Restated Credit Agreement – Form of Assignment and Assumption 
 -2- 

 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

	
	ASSIGNOR
	
	[NAME OF ASSIGNOR]
	
	By:                                     
                                         
                  
	Name:                                     
                                         
            
	Title:                                     
                                         
              
	
	ASSIGNEE
	
	[NAME OF ASSIGNEE]
	
	By:                                     
                                         
                  
	Name:                                     
                                         
            
	Title:                                     
                                         
              

  

	
	[Consented to and]10 Accepted:
	
	BANK OF MONTREAL, as
	Administrative Agent
	
	By:                                     
                                         
            
	Name:                                     
                                         
      
	Title:                                     
                                         
         
	
	[Consented to:]11
	
	By:                                     
                                         
            
	Name:                                     
                                         
      
	Title:                                     
                                         
         

  

	10 	 To be added only if the consent of the Borrowers and/or the L/C Issuers and/or the Swing Line Lender is
required by the terms of the Credit Agreement. 

	11 	 To be added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement.

  
 Exhibit E-1 to Amended
and Restated Credit Agreement – Form of Assignment and Assumption 
 -3- 

 ANNEX 1 TO ASSIGNMENT AND ASSUMPTION 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 
 1.
Representations and Warranties. 
 1.1. Assignor. [The][Each] Assignor (a) represents and warrants that (i) it is the
legal and beneficial owner of [the][[the relevant] Assigned Interest, (ii) [the][such] Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full power and authority, and has taken all action
necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and (iv) it is not a Defaulting Lender; and (b) assumes no responsibility with respect to (i) any statements,
warranties or representations made in or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral
thereunder, (iii) the financial condition of any Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by any Borrower, any of its Subsidiaries
or Affiliates or any other Person of any of their respective obligations under any Loan Document. 
 1.2. Assignee. [The][Each]
Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a
Lender under the Credit Agreement, (ii) it meets all the requirements to be an assignee under Section 11.06(b) of the Credit Agreement (subject to such consents, if any, as may be required under
Section 11.06(b)(iii) of the Credit Agreement), (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of [the][the relevant] Assigned
Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type represented by [the][such] Assigned Interest and either it, or the Person exercising discretion in
making its decision to acquire [the][such] Assigned Interest, is experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies of the
most recent financial statements delivered pursuant to Section 6.01 thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this
Assignment and Assumption and to purchase [the][such] Assigned Interest, (vi) it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate,
made its own credit analysis and decision to enter into this Assignment and Assumption and to purchase [the][such] Assigned Interest, and (vii) if it is a Foreign Lender, attached hereto is any documentation required to be delivered by it
pursuant to the terms of the Credit Agreement, duly completed and executed by [the][such] Assignee as of the Effective Date; and (b) agrees that (i) it will, independently and without reliance upon the Administrative Agent, [the][any]
Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in
accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 

  
 Exhibit E-1 to Amended
and Restated Credit Agreement – Form of Assignment and Assumption 
 -4- 

 2. Payments. From and after the Effective Date, the Administrative Agent shall make all payments in
respect of [the][each] Assigned Interest (including payments of principal, interest, fees and other amounts) to [the][the relevant] Assignor for amounts which have accrued to but excluding the Effective Date and to [the][the relevant] Assignee for
amounts which have accrued from and after the Effective Date. 
 3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and permitted assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed
counterpart of a signature page of this Assignment and Assumption by facsimilie or other electronic imaging means (e.g., “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Assignment
and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of New York. 

  
 Exhibit E-1 to Amended
and Restated Credit Agreement – Form of Assignment and Assumption 
 -5- 

 EXHIBIT E-2 

FORM OF ADMINISTRATIVE QUESTIONNAIRE 

See attached. 

  
 Exhibit E-2 to Amended
and Restated Credit Agreement – Form of Administrative Questionnaire 

 EXHIBIT H 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain Amended and Restated Credit Agreement, dated as of November 2, 2018 (as amended, restated, amended and
restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined to the extent not otherwise defined herein), among USD Partners LP,
a Delaware limited partnership (the “US Borrower”), USD Terminals Canada ULC, an unlimited liability company subsisting under the laws of the Province of British Columbia, Canada (the “Canadian Borrower” and
together with the US Borrower, the “Borrowers” and each, a “Borrower”), each Lender from time to time party thereto, Bank of Montreal, as Administrative Agent (in such capacity, the “Administrative
Agent”), Swing Line Lender, and an L/C Issuer, U.S. Bank National Association, as an L/C Issuer, and Citibank, N.A., as an L/C Issuer. 

Pursuant to the provisions of Section 3.01 of the Agreement, the undersigned hereby certifies that (i) it is the sole record and
beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a
10 percent shareholder of any Borrower within the meaning of Section 881(c)(3)(B) of the Code and (iv) it is not a controlled foreign corporation related to any Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Administrative Agent and the Borrowers with a certificate of its
non-U.S. Person status on IRS Form W-8BEN or W-8BEN-E (as applicable). By executing this
certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrowers and the Administrative Agent, and (2) the undersigned shall have at all times
furnished the Borrowers and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding
such payments. 
  

			
	[NAME OF LENDER]
		
	By:	 	  

		 	Name:
		 	Title:

 Date: ________ __, 20[ ] 

  
 Exhibit H to Amended and
Restated Credit Agreement – Form of U.S. Tax Compliance Certificates 

 FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain Amended and Restated Credit Agreement, dated as of November 2, 2018 (as amended, restated, amended and
restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined to the extent not otherwise defined herein), among USD Partners LP,
a Delaware limited partnership (the “US Borrower”), USD Terminals Canada ULC, an unlimited liability company subsisting under the laws of the Province of British Columbia, Canada (the “Canadian Borrower” and
together with the US Borrower, the “Borrowers” and each, a “Borrower”), each Lender from time to time party thereto, Bank of Montreal, as Administrative Agent (in such capacity, the “Administrative
Agent”), Swing Line Lender, and an L/C Issuer, U.S. Bank National Association, as an L/C Issuer, and Citibank, N.A., as an L/C Issuer. 

Pursuant to the provisions of Section 3.01 of the Agreement, the undersigned hereby certifies that (i) it is the sole record and
beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a 10 percent shareholder of any Borrower
within the meaning of Section 881(c)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation related to any Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with a certificate of its non-U.S. Person
status on IRS Form W-8BEN or W-8BEN-E (as applicable). By executing this certificate, the undersigned agrees that (1) if the
information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective
certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 
  

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

		 	Name:
		 	Title:

 Date: ________ __, 20[ ] 

  
 Exhibit H to Amended and
Restated Credit Agreement – Form of U.S. Tax Compliance Certificates 

 FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain Amended and Restated Credit Agreement, dated as of November 2, 2018 (as amended, restated, amended and
restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined to the extent not otherwise defined herein), among USD Partners LP,
a Delaware limited partnership (the “US Borrower”), USD Terminals Canada ULC, an unlimited liability company subsisting under the laws of the Province of British Columbia, Canada (the “Canadian Borrower” and
together with the US Borrower, the “Borrowers” and each, a “Borrower”), each Lender from time to time party thereto, Bank of Montreal, as Administrative Agent (in such capacity, the “Administrative
Agent”), Swing Line Lender, and an L/C Issuer, U.S. Bank National Association, as an L/C Issuer, and Citibank, N.A., as an L/C Issuer. 

Pursuant to the provisions of Section 3.01 of the Agreement, the undersigned hereby certifies that (i) it is the sole record owner
of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such participation, (iii) with respect to such participation, neither the undersigned
nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of
its direct or indirect partners/members is a 10 percent shareholder of any Borrower within the meaning of Section 881(c)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation
related to any Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished its participating Lender
with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form
W-8BEN or W-8BEN-E (as applicable) or (ii) an IRS Form W-8IMY accompanied by an IRS
Form W-8BEN or W-8BEN-E (as applicable) from each of such partner’s/member’s beneficial owners that is claiming the
portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have
at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

 

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

		 	Name:
		 	Title:

 Date: ________ __, 20[ ] 

  
 Exhibit H to Amended and
Restated Credit Agreement – Form of U.S. Tax Compliance Certificates 

 FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain Amended and Restated Credit Agreement, dated as of November 2, 2018 (as amended, restated, amended and
restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined to the extent not otherwise defined herein), among USD Partners LP,
a Delaware limited partnership (the “US Borrower”), USD Terminals Canada ULC, an unlimited liability company subsisting under the laws of the Province of British Columbia, Canada (the “Canadian Borrower” and
together with the US Borrower, the “Borrowers” and each, a “Borrower”), each Lender from time to time party thereto, Bank of Montreal, as Administrative Agent (in such capacity, the “Administrative
Agent”), Swing Line Lender, and an L/C Issuer, U.S. Bank National Association, as an L/C Issuer, and Citibank, N.A., as an L/C Issuer. 

Pursuant to the provisions of Section 3.01 of the Agreement, the undersigned hereby certifies that (i) it is the sole record owner
of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing
such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan Document, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan
agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a 10 percent shareholder of any Borrower within the
meaning of Section 881(c)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to any Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Administrative Agent and the Borrowers with IRS Form W-8IMY
accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or W-8BEN-E (as applicable) or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or W-8BEN-E (as applicable) from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that
(1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrowers and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrowers and the
Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

 

			
	[NAME OF LENDER]
		
	By:	 	  

		 	Name:
		 	Title:

 Date: ________ __, 20[ ] 

  
 Exhibit H to Amended and
Restated Credit Agreement – Form of U.S. Tax Compliance Certificatessynh-ex101_786.htm

Exhibit 10.1 

 

EXECUTION VERSION

ELEVENTH AMENDMENT TO THE 
RECEIVABLES FINANCING AGREEMENT

This ELEVENTH AMENDMENT TO THE RECEIVABLES FINANCING AGREEMENT (this “Amendment”), dated as of October 13, 2021, is entered into by and among the following parties:

(i)SYNEOS HEALTH RECEIVABLES LLC, as Borrower;

(ii)SYNEOS HEALTH, LLC (f/k/a INC RESEARCH, LLC), as initial Servicer;

(iii)REGIONS BANK (“Regions”) as a Lender; and 

(iv)PNC BANK, NATIONAL ASSOCIATION (“PNC”), as Administrative Agent and as a Lender.

Capitalized terms used but not otherwise defined herein (including such terms used above) have the respective meanings assigned thereto in the Receivables Financing Agreement described below.

BACKGROUND

A.The parties hereto (other than Regions) have entered into a Receivables Financing Agreement, dated as of June 29, 2018 (as amended, restated, supplemented or otherwise modified through the date hereof, the “Receivables Financing Agreement”).

B.Concurrently herewith, the Borrower, the Administrative Agent, the Lenders and PNC Capital Markets LLC are entering into that certain Amended and Restated Fee Letter dated as of the date hereof (the “Fee Letter”).

C.Concurrently herewith, the Borrower, as buyer, the Servicer, as servicer and as an originator, and the other originators from time to time party thereto, are entering into that certain Sixth Amendment to the Purchase and Sale Agreement, dated as of the date hereof (the “PSA Amendment”).

D.Concurrently herewith, Syneos Health Inc. (the “Performance Guarantor”) and the Administrative Agent are entering into that certain Amended and Restated Performance Guaranty, dated as of the date hereof (the “Performance Guaranty”, and together with the PSA Amendment and the Fee Letter, collectively, the “Related Agreements”).  

E.The parties hereto desire to amend the Receivables Financing Agreement as set forth herein.

NOW THEREFORE, with the intention of being legally bound hereby, and in consideration of the mutual undertakings expressed herein, each party to this Amendment hereby agrees as follows:

SECTION 1.Rebalancing of Capital; Non-Ratable Funded Purchase.

 

 

(a)Non-Ratable Loans.  Subject to the conditions precedent for Loans set forth in the Receivables Financing Agreement, but notwithstanding the Receivables Financing Agreement’s ratable allocation of Loans among the Lenders, the Borrower has requested that the Lenders make Loans on the date hereof in the amounts of (i) with respect to PNC, in an amount equal to $25,000,000 and (ii) with respect to Regions, in an amount equal to $10,000,000.  

(b)Consent.  Each party hereto hereby agrees and consents to the transactions set forth in clause (a) above and waives any otherwise-applicable notice requirements therefor.

(c)Effect of Loans.  After giving effect to the Loans contemplated by this Section 1, (i) the Aggregate Capital will be $400,000,000, (ii) PNC’s aggregate outstanding Capital will be $325,000,000 and (iii) Regions’ aggregate outstanding Capital will be $75,000,000.

SECTION 2.Amendments to the Receivables Financing Agreement .  The Receivables Financing Agreement is hereby amended to incorporate the changes shown on the marked pages of the Receivables Financing Agreement attached hereto as Exhibit A.

SECTION 3.Representations and Warranties of the Borrower and the Servicer.  The Borrower and the Servicer each hereby represent and warrant to each of the parties hereto as of the date hereof as follows:

(a)Representations and Warranties.  The representations and warranties made by it in the Receivables Financing Agreement and each of the other Transaction Documents to which it is a party are true and correct as of the date hereof.

(b)Enforceability.  The execution and delivery by it of this Amendment, and the performance of its obligations under this Amendment, the Related Agreements, the Receivables Financing Agreement (as amended hereby) and the other Transaction Documents to which it is a party are within its organizational powers and have been duly authorized by all necessary action on its part, and this Amendment, the Related Agreements, the Receivables Financing Agreement (as amended hereby) and the other Transaction Documents to which it is a party are (assuming due authorization and execution by the other parties thereto) its valid and legally binding obligations, enforceable in accordance with their terms, except (i) as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) as such enforceability may be limited by general principles of equity, regardless of whether such enforceability is considered in a proceeding in equity or at law.

(c)No Event of Default.  After giving effect to this Amendment, no Event of Default or Unmatured Event of Default has occurred and is continuing, or would occur as a result of this Amendment, the Related Agreements or the transactions contemplated hereby or thereby.

 

2

744071033 18569090

 

 

SECTION 4.Effect of Amendment; Ratification.  All provisions of the Receivables Financing Agreement and the other Transaction Documents, as expressly amended and modified by this Amendment, shall remain in full force and effect.  After this Amendment becomes effective, all references in the Receivables Financing Agreement (or in any other Transaction Document) to “the Receivables Financing Agreement”, “this Agreement”, “hereof”, “herein” or words of similar effect referring to the Receivables Financing Agreement shall be deemed to be references to the Receivables Financing Agreement as amended by this Amendment. This Amendment shall not be deemed, either expressly or impliedly, to waive, amend or supplement any provision of the Receivables Financing Agreement other than as set forth herein.  The Receivables Financing Agreement, as amended by this Amendment, is hereby ratified and confirmed in all respects.

SECTION 5.Effectiveness.  This Amendment shall become effective as of the date hereof, subject to the conditions precedent that the Administrative Agent shall have received the following:

(a)counterparts to this Amendment executed by each of the parties hereto; 

(b)counterparts to each Related Agreement executed by each of the parties thereto;

(c)evidence that each “Upfront Fee” under and as defined in the Fee Letter has been paid; and

(d)such other agreements, documents, instruments, UCC financing statements, secretary certificates, lien searches, reliance letters and opinions listed on Annex A hereto or otherwise as the Administrative Agent may reasonably request prior to the date hereof.

SECTION 6.Consent to Related Agreements.  Each of the parties hereto consents to the execution and delivery of each Related Agreement on the date hereof.

SECTION 7.Severability.  Any provisions of this Amendment which are prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

SECTION 8.Transaction Document.  This Amendment shall be a Transaction Document for purposes of the Receivables Financing Agreement.

SECTION 9.Counterparts.  This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same agreement.  Delivery of an executed counterpart hereof by facsimile or other electronic means shall be equally effective as delivery of an originally executed counterpart.  The words “execution,” “execute”, “signed,” “signature,” and words of like import in or related to any document to be signed in connection with this Amendment and the transactions contemplated hereby shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved 

 

3

744071033 18569090

 

by the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

SECTION 10.GOVERNING LAW AND JURISDICTION. 

(a)THIS AMENDMENT, INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF).

(b)EACH PARTY HERETO HEREBY IRREVOCABLY SUBMITS TO (I) WITH RESPECT TO THE BORROWER AND THE SERVICER, THE EXCLUSIVE JURISDICTION, AND (II) WITH RESPECT TO EACH OF THE OTHER PARTIES HERETO, THE NON-EXCLUSIVE JURISDICTION, IN EACH CASE, OF ANY NEW YORK STATE OR FEDERAL COURT SITTING IN NEW YORK CITY, NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AMENDMENT, AND EACH PARTY HERETO HEREBY IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF SUCH ACTION OR PROCEEDING (I) IF BROUGHT BY THE BORROWER, THE SERVICER OR ANY AFFILIATE THEREOF, SHALL BE HEARD AND DETERMINED, AND (II) IF BROUGHT BY ANY OTHER PARTY TO THIS AMENDMENT, MAY BE HEARD AND DETERMINED, IN EACH CASE, IN SUCH NEW YORK STATE COURT OR, TO THE EXTENT PERMITTED BY LAW, IN SUCH FEDERAL COURT.  NOTHING IN THIS SECTION 9 SHALL AFFECT THE RIGHT OF THE ADMINISTRATIVE AGENT OR ANY OTHER CREDIT PARTY TO BRING ANY ACTION OR PROCEEDING AGAINST THE BORROWER OR THE SERVICER OR ANY OF THEIR RESPECTIVE PROPERTY IN THE COURTS OF OTHER JURISDICTIONS.  EACH OF THE BORROWER AND THE SERVICER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING.  THE PARTIES HERETO AGREE THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW.

SECTION 11.Section Headings.  The various headings of this Amendment are included for convenience only and shall not affect the meaning or interpretation of this Amendment, the Receivables Financing Agreement or any provision hereof or thereof.

[Signature pages follow.]

 

4

744071033 18569090

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment by their duly authorized officers as of the date first above written.

 

		
	
SYNEOS HEALTH RECEIVABLES LLC,

	
as the Borrower

	
 
	
 

	
By:
	
/s/ Jennifer Fillman

	
 
	
Name: Jennifer Fillman

	
 
	
Title: President

	
 
	
 

	
 
	
 

	
 
	
 

	
 
	
 

	
SYNEOS HEALTH, LLC,

	
as the Servicer

	
 
	
 

	
By:
	
 

	
 
	
Name: Jason Meggs

	
 
	
Title: Chief Financial Officer

 

 

 

	
 
	
S-1
	
Eleventh Amendment to the Receivables Financing Agreement

744071033 18569090

 

 

IN WITNESS WHEREOF, the parties hereto have executed this Amendment by their duly authorized officers as of the date first above written.

 

		
	
SYNEOS HEALTH RECEIVABLES LLC,

	
as the Borrower

	
 
	
 

	
By:
	
 

	
 
	
Name: Jennifer Fillman

	
 
	
Title: President

	
 
	
 

	
 
	
 

	
 
	
 

	
 
	
 

	
SYNEOS HEALTH, LLC,

	
as the Servicer

	
 
	
 

	
By:
	
/s/ Jason Meggs

	
 
	
Name: Jason Meggs

	
 
	
Title: Chief Financial Officer

 

 

	
744071033 18569090
	
S-1
	
Eleventh Amendment to the Receivables Financing Agreement

 

 

 

 

		
	
PNC BANK, NATIONAL ASSOCIATION,

	
as Administrative Agent

	
 
	
 

	
By:
	
/s/ Christopher Blaney

	
 
	
Name: Christopher Blaney

	
 
	
Title: Senior Vice President

	
 
	
 

	
 
	
 

	
 
	
 

	
 
	
 

	
PNC BANK, NATIONAL ASSOCIATION,

	
as a Lender

	
 
	
 

	
By:
	
/s/ Christopher Blaney

	
 
	
Name: Christopher Blaney

	
 
	
Title: Senior Vice President

 

 

 

	
744071033 18569090
	
S-2
	
Eleventh Amendment to the Receivables Financing Agreement

 

 

 

 

		
	
REGIONS BANK,

	
as a Lender 

	
 
	
 

	
By:
	
/s/ Cecil Noble

	
 
	
Name: Cecil Noble

	
 
	
Title: Managing Director

 

 

	
744071033 18569090
	
S-3
	
Eleventh Amendment to the Receivables Financing Agreement

 

 

 

 

 

		
	
Acknowledged and agreed:

	
 

	
SYNEOS HEALTH, INC.,

	
as Performance Guarantor

	
 
	
 

	
By:
	
/s/ Jason Meggs

	
 
	
Name: Jason Meggs

	
 
	
Title: Chief Financial Officer

 

 

 

	
744071033 18569090
	
S-4
	
Eleventh Amendment to the Receivables Financing Agreement

 

 

 

EXHIBIT A

AMENDMENTS TO THE RECEIVABLES FINANCING AGREEMENT

 

(Attached)

 

 

 

Exhibit A

744071033 18569090

 

 

EXECUTION VERSION

EXHIBIT A to the TENTHELEVENTH AMENDMENT, dated as of January 28,October 

13, 2021

 

CONFORMED COPY INCLUDES

FIRST AMENDMENT, dated as of August 1, 2018 SECOND AMENDMENT, dated as of August 29, 2018 THIRD AMENDMENT, dated as of October 25, 2018 FOURTH AMENDMENT, dated as of January 2, 2019 FIFTH AMENDMENT, dated as of July 25, 2019

 SIXTH AMENDMENT, dated as of September 30, 2019

OMNIBUS AMENDMENT, dated as of January 31, 2020 EIGHTH AMENDMENT, dated as of March 18, 2020 NINTH AMENDMENT, dated as of September 25, 2020 TENTH AMENDMENT, dated as of January 28, 2021

 

 

 

 

 

 

RECEIVABLES FINANCING AGREEMENT

 

Dated as of June 29, 2018 

by and among

SYNEOS HEALTH RECEIVABLES LLC,

as Borrower,

 

THE PERSONS FROM TIME TO TIME PARTY HERETO,

as Lenders,

 

PNC BANK, NATIONAL ASSOCIATION,

as Administrative Agent,

 

SYNEOS HEALTH, LLC,

as initial Servicer,

and

PNC CAPITAL MARKETS LLC,

as Structuring Agent

 

 

 

 

 

744108212 18569090

 

 

 

 

	
 
	
TABLE OF CONTENTS
	
 

	
 
	
 
	
Page

	
ARTICLE I DEFINITIONS
	
1

	
 
	
SECTION 1.01. Certain Defined Terms
	
1

	
 
	
SECTION 1.02. Other Interpretative Matters
	
3435

	
ARTICLE II TERMS OF THE LOANS
	
3536

	
 
	
SECTION 2.01. Loan Facility
	
3536

	
 
	
SECTION 2.02. Making Loans; Repayment of Loans
	
3536

	
 
	
SECTION 2.03. Interest and Fees
	
3738

	
 
	
SECTION 2.04. Records of Loans
	
38

	
 
	
SECTION 2.05. Selection of Interest Rates and Tranche Periods
	
3839

	
 
	
SECTION 2.06. Defaulting Lenders
	
39

	
ARTICLE III [RESERVED]
	
3940

	
ARTICLE IV SETTLEMENT PROCEDURES AND PAYMENT PROVISIONS
	
3940

	
 
	
SECTION 4.01. Settlement Procedures
	
3940

	
 
	
SECTION 4.02. Payments and Computations, Etc.
	
4243

	
ARTICLE V INCREASED COSTS; FUNDING LOSSES; TAXES; ILLEGALITY AND SECURITY INTEREST
	
4344

	
 
	
SECTION 5.01. Increased Costs
	
4344

	
 
	
SECTION 5.02. Funding Losses
	
45

	
 
	
SECTION 5.03. Taxes
	
45

	
 
	
SECTION 5.04. Inability to Determine Adjusted LIBOR or LMIR; Change in Legality
	
4950

	
 
	
SECTION 5.05. Security Interest
	
50

	
 
	
SECTION 5.06. Successor Adjusted LIBOR or LMIR
	
51

	
ARTICLE VI CONDITIONS TO EFFECTIVENESS AND CREDIT EXTENSIONS
	
54

	
 
	
SECTION 6.01. Conditions Precedent to Effectiveness and the Initial Credit Extension
	
54

	
 
	
SECTION 6.02. Conditions Precedent to All Credit Extensions
	
55

	
 
	
SECTION 6.03. Conditions Precedent to All Releases
	
56

	
ARTICLE VII REPRESENTATIONS AND WARRANTIES
	
57

	
 
	
SECTION 7.01. Representations and Warranties of the Borrower
	
57

	
 
	
SECTION 7.02. Representations and Warranties of the Servicer
	
62

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TABLE OF CONTENTS
	
 

	
 
	
(continued)
	
Page

	
ARTICLE VIII COVENANTS
	
6566

	
 
	
SECTION 8.01. Covenants of the Borrower
	
6566

	
 
	
SECTION 8.02. Covenants of the Servicer
	
7475

	
 
	
SECTION 8.03. Separate Existence of the Borrower
	
8182

	
ARTICLE IX ADMINISTRATION AND COLLECTION OF RECEIVABLES
	
85

	
 
	
SECTION 9.01. Appointment of the Servicer.
	
85

	
 
	
SECTION 9.02. Duties of the Servicer.
	
86

	
 
	
SECTION 9.03. Collection Account Arrangements
	
8687

	
 
	
SECTION 9.04. Enforcement Rights
	
8788

	
 
	
SECTION 9.05. Responsibilities of the Borrower
	
89

	
 
	
SECTION 9.06. Servicing Fee
	
8990

	
ARTICLE X EVENTS OF DEFAULT
	
8990

	
 
	
SECTION 10.01. Events of Default
	
8990

	
ARTICLE XI THE ADMINISTRATIVE AGENT
	
9394

	
 
	
SECTION 11.01. Authorization and Action
	
9394

	
 
	
SECTION 11.02. Administrative Agent’s Reliance, Etc
	
9394

	
 
	
SECTION 11.03. Administrative Agent and Affiliates
	
9495

	
 
	
SECTION 11.04. Indemnification of Administrative Agent
	
9495

	
 
	
SECTION 11.05. Delegation of Duties
	
9495

	
 
	
SECTION 11.06. Action or Inaction by Administrative Agent
	
9495

	
 
	
SECTION 11.07. Notice of Events of Default; Action by Administrative Agent
	
95

	
 
	
SECTION 11.08. Non-Reliance on Administrative Agent and Other Parties
	
9596

	
 
	
SECTION 11.09. Successor Administrative Agent
	
9596

	
 
	
SECTION 11.10. Structuring Agent
	
9697

	
 
	
SECTION 11.11. LIBOR Notification
	
9697

	
 
	
SECTION 11.12. Erroneous Payments.
	
97

	
ARTICLE XII [RESERVED]
	
96100

	
ARTICLE XIII INDEMNIFICATION
	
96100

	
 
	
SECTION 13.01. Indemnities by the Borrower
	
96100

	
 
	
SECTION 13.02. Indemnification by the Servicer
	
99103

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(continued)
	
 

	
 
	
 
	
Page

	
 
	
SECTION 13.03. Currency Indemnity
	
101104

	
ARTICLE XIV MISCELLANEOUS
	
101105

	
 
	
SECTION 14.01. Amendments, Etc
	
101105

	
 
	
SECTION 14.02. Notices, Etc
	
102106

	
 
	
SECTION 14.03. Assignability; Addition of Lenders.
	
103106

	
 
	
SECTION 14.04. Costs and Expenses
	
105109

	
 
	
SECTION 14.05. No Proceedings
	
106109

	
 
	
SECTION 14.06. Confidentiality
	
106109

	
 
	
SECTION 14.07. GOVERNING LAW
	
107111

	
 
	
SECTION 14.08. Execution in Counterparts
	
108111

	
 
	
SECTION 14.09. Integration; Binding Effect; Survival of Termination
	
108111

	
 
	
SECTION 14.10. CONSENT TO JURISDICTION
	
108111

	
 
	
SECTION 14.11. WAIVER OF JURY TRIAL
	
109112

	
 
	
SECTION 14.12. Ratable Payments
	
109112

	
 
	
SECTION 14.13. Limitation of Liability
	
109112

	
 
	
SECTION 14.14. Intent of the Parties
	
110113

	
 
	
SECTION 14.15. USA Patriot Act
	
110113

	
 
	
SECTION 14.16. Right of Setoff
	
110113

	
 
	
SECTION 14.17. Severability
	
110114

	
 
	
SECTION 14.18. Mutual Negotiations
	
111114

	
 
	
SECTION 14.19. Captions and Cross References
	
111114

	
 
	
SECTION 14.20. Post-Closing Covenant
	
111114

 

 

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“Adjusted LIBOR” means with respect to any Tranche Period, the interest rate per annum determined by the Administrative Agent by dividing (the resulting quotient rounded upwards, if necessary, to the nearest 1/100th of 1% per annum) (i) the rate of interest determined by the Administrative Agent in accordance with its usual procedures (which determination shall be conclusive absent manifest error) to be the rate per annum for deposits in Dollars as reported by Bloomberg Finance L.P. and shown on US0001M Screen as the composite offered rate for London interbank deposits for such Tranche Period (or on any successor or substitute page of such service, or any successor to or substitute for such service, providing rate quotations comparable to those currently provided on such page of such service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at or about 11:00 a.m. (London time) on the Business Day which is two (2) Business Days prior to the first day of such Tranche Period for an amount comparable to the Portion of Capital to be funded at Adjusted LIBOR during such Tranche Period, by (ii) a number equal to 1.00 minus the Euro-Rate Reserve Percentage; provided, however, that with respect to the initial Tranche Period for a Loan that is not advanced on a Monthly Settlement Date, Adjusted LIBOR shall be the interest rate per annum equal to LMIR for each day during such initial Tranche Period from the date that such Loan is made pursuant to Section 2.01 until the next occurring Monthly Settlement Date. The calculation of Adjusted LIBOR may also be expressed by the following formula:

 

				
	
 
	
Composite of London interbank offered rates shown on

Bloomberg Finance L.P. Screen US0001M

	
 
	
or appropriate successor

	
Adjusted LIBOR =
	
=
	
 
	
 

	
 
	
 

	
 
	
1.00 - Euro-Rate Reserve Percentage

 

Adjusted LIBOR shall be adjusted on the effective date of any change in the Euro-Rate Reserve Percentage as of such effective date. The Administrative Agent shall give prompt notice to the Borrower of Adjusted LIBOR as determined or adjusted in accordance herewith (which determination shall be conclusive absent manifest error). Notwithstanding the foregoing, if Adjusted LIBOR as determined herein would be less than 0.00% or any other rate as may be agreed by the Borrower and Administrative Agent in writing, Adjusted LIBOR shall be deemed to be equal to 0.00% or such other rate for purposes of this Agreement.

 

“Administrative Agent” means PNC, in its capacity as contractual representative for the Credit Parties, and any successor thereto in such capacity appointed pursuant to Article XI or Section 14.03(f).

 

“Advent” means Advent International Corporation and its Affiliates.

 

“Adverse Claim” means any ownership interest or claim, mortgage, deed of trust, pledge, lien, security interest, hypothecation, charge or other encumbrance or security arrangement of any nature whatsoever, whether voluntarily or involuntarily given, including, but not limited to, any conditional sale or title retention arrangement, and any assignment, deposit arrangement or lease intended as, or having the effect of, security and any filed financing statement or other notice of any of the foregoing (whether or not a lien or other encumbrance is created or exists at the time of the filing); it being understood that any of the foregoing in favor of, or assigned to, the 

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Administrative Agent (for the benefit of the Secured Parties) shall not constitute an Adverse Claim.

 

“Advisors” has the meaning set forth in Section 14.06(c).

“Affected Person” means each Credit Party and each of their respective Affiliates. 

“Affiliate” means, as to any Person: (a) any other Person that, directly or indirectly, is in control of, is controlled by or is under common control with such Person or (b) who is a director or officer: (i) of such Person or (ii) of any Person described in clause (a). For purposes of this definition, control of a Person shall mean the power, direct or indirect: (x) to vote 35% or more of the securities having ordinary voting power for the election of directors or managers of such Person or (y) to direct or cause the direction of the management and policies of such Person, in either case whether by ownership of securities, contract, proxy or otherwise.

 

“Aggregate Capital” means, at any time of determination, the aggregate outstanding Capital of all Lenders at such time.

 

“Aggregate Interest” means, at any time of determination, the aggregate accrued and unpaid Interest on the Loans of all Lenders at such time.

 

“Agreement” has the meaning set forth in the preamble to this Agreement.

 

“Alternative Currency” means Euros, GBP, AUD, CHF, CAD and any other currencies the Administrative Agent and the Lenders have approved in writing in their sole discretion.

 

“Anti-Terrorism Laws” Corruption Laws” means the United States Foreign Corrupt Practices Act of 1977, as amended, the UK Bribery Act 2010, and any other similar anti-corruption Laws or regulations applicable to the Parent or any of its Subsidiaries.

 

“Anti-Terrorism Law” means any Applicable Law relating to terrorism financing, trade sanctions programs and embargoes, import/export licensing, money laundering or bribery, and any regulation, order, or directive promulgated, issued or enforced pursuant to such Applicable Laws, all as amended, supplemented or replaced from time to timein force or hereinafter enacted related to terrorism or money laundering, including the Bank Secrecy Act, 31 U.S.C. § 5311 et seq., as amended by Title III of the USA PATRIOT Act.

 

“Applicable Law” means, with respect to any Person, (x) all provisions of law, statute, treaty, constitution, ordinance, rule, regulation, ordinance, requirement, restriction, permit, executive order, certificate, decision, directive or order of any Governmental Authority applicable to such Person or any of its property and (y) all judgments, injunctions, orders, writs, decrees and awards of all courts and arbitrators in proceedings or actions in which such Person is a party or by which any of its property is bound. For the avoidance of doubt, FATCA shall constitute an “Applicable Law” for all purposes of this Agreement.

 

“Assignment and Acceptance Agreement” means an assignment and acceptance agreement entered into by a Lender, an Eligible Assignee and the Administrative Agent, and, if

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“Collection Account Bank” means any of the banks or other financial institutions holding one or more Collection Accounts.

 

“Collections” means, with respect to any Pool Receivable: (a) all funds that are received by any Originator, the Borrower, the Servicer or any other Person on their behalf in payment of any amounts owed in respect of such Pool Receivable (including purchase price, service charges, finance charges, interest, fees and all other charges), or applied to amounts owed in respect of such Pool Receivable (including insurance payments, proceeds of drawings under supporting letters of credit and net proceeds of the sale or other disposition of repossessed goods or other collateral or property of the related Obligor or any other Person directly or indirectly liable for the payment of such Pool Receivable and available to be applied thereon), (b) all Deemed Collections, (c) all proceeds of all Related Security with respect to such Pool Receivable and (d) all other proceeds of such Pool Receivable.

 

“Commencement Date” means the date, if any, identified as the “Commencement Date” in a writing delivered by the Borrower to the Administrative Agent; provided, however, that the “Commencement Date” shall be deemed to be the date of the initial Credit Extension if not previously identified as a date on or prior to the date of the initial Credit Extension.

 

“Commitment” means, with respect to any Lender, the maximum aggregate amount of Capital which such Person is obligated to lend or pay hereunder on account of all Loans, on a combined basis, as set forth on Schedule I or in such other agreement pursuant to which it became a Lender, as such amount may be modified in connection with any subsequent assignment pursuant to Section 14.03 or in connection with a reduction in the Facility Limit pursuant to Section 2.02(e). If the context so requires, “Commitment” also refers to a Lender’s obligation to make Loans hereunder in accordance with this Agreement.

 

“Concentration Percentage” means (a) except as provided in clause (b) below, (i) for any Group A Obligor, 25.0%, (ii) for any Group B Obligor, 15.0%, (iii) for any Group C Obligor, 10.0% and, (iv) for anythe largest Group D Obligor (by Obligor Percentage), 7.5%, and (v) for any other Group D Obligor, 5.0% and (b) for each of the Obligors listed in the chart below (each, a “Special Obligor”), the percentage specified in the chart below for such Special Obligor (the applicable “Special Concentration Limit”); provided, however, that (i) the Administrative Agent may, upon not less than five (5) Business Days’ written notice to the Borrower, cancel or reduce the Special Concentration Limit with respect to any or all Special Obligors and, (ii) if the aggregate Outstanding Balance of Pool Receivables owing by any Special Obligor that constitute Delinquent Receivables exceeds 30.0% of the aggregate Outstanding Balance of all Pool Receivables owing by such Special Obligor, then the Special Concentration Limit with respect to such Special Obligor shall be immediately and automatically cancelled, and thereafter, in each case, the Concentration Percentage for such Special Obligor(s) shall be determined pursuant to clause (a) above and (iii) in addition to the Special Concentration Limits for Otsuka Pharmaceutical Development and Commercialization, Inc. and Servier Pharmaceuticals LLC, such Obligors shall also have a combined Concentration Percentage of 13.0%. In the event that any other Obligor is or becomes an Affiliate of a Special Obligor, the Special Concentration Limit shall apply to both such Obligor and such Special Obligor and shall be calculated as if such Obligor and such Special Obligor were a single Obligor.

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744108212 18569090

 

 

 

	
Special Obligor
	
Special Concentration Limit

	
Otsuka Pharmaceutical Development and Commercialization, Inc.
	
8.0%

	
Servier Pharmaceuticals LLC
	
8.0%

 

“Concentration Reserve Percentage” means, at any time of determination, the largest of: (a) the sum of the four (4) largest Obligor Percentages of the Group D Obligors, (b) the sum of the two (2) largest Obligor Percentages of the Group C Obligors and (c) the largest Obligor Percentage of the Group B Obligors.

 

“Contract” means, with respect to any Receivable, any and all contracts, instruments, agreements, leases, invoices, notes or other writings pursuant to which such Receivable arises or that evidence such Receivable or under which an Obligor becomes or is obligated to make payment in respect of such Receivable.

 

“Covered Entity” means (a) each of Borrower, the Servicer, each Originator, the Parent and each of the Parent’s Subsidiaries and (b) each Person that, directly or indirectly, is in control of a Person described in clause (a) above. For purposes of this definition, control of a Person shall mean the direct or indirect (x) ownership of, or power to vote, 35% or more of the issued and outstanding equity interests having ordinary voting power for the election of directors of such Person or other Persons performing similar functions for such Person, or (y) power to direct or cause the direction of the management and policies of such Person whether by ownership of equity interests, contract or otherwise.

 

“Credit Agreement” means that certain Credit Agreement, dated as of August 1, 2017, as amended, by and among Syneos Health, Inc. f/k/a INC Research Holdings, Inc., as the administrative borrower, the other borrowers party thereto, the financial institutions party thereto as lenders, JPMorgan Chase Bank, N.A. (as successor agent to Credit Suisse AG, Cayman Islands Branch), as administrative agent, the other financial institutions party thereto, as joint lead arrangers and joint bookrunners.

 

“Credit Agreement Replacement Rate” means the alternate rate of interest to the “Eurocurrency Rate” (as defined in the Credit Agreement), if any, established in accordance with Section 2.14(b) of the Credit Agreement as in effect on September 25, 2020.

 

“Credit and Collection Policy” means, as the context may require, those receivables credit and collection policies and practices of the Originators in effect on the Closing Date and described in Exhibit F, as modified in compliance with this Agreement.

 

“Credit Extension” means the making of any Loan.

 

“Credit Party” means each Lender and the Administrative Agent.

 

“Currency Reserve Amount” means, at any time of determination, the product of (a) 7.5%, times (b) the Dollar Equivalent of the aggregate Outstanding Balance of all Eligible Receivables then denominated in an Alternative Currency; provided however that the 

 

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744108212 18569090

 

 

“Eligible Assignee” means (i) any Lender or any of its Affiliates, (ii) any Person managed by a Lender or any of its Affiliates and (iii) any other financial or other institution.

 

“Eligible Foreign Obligor” means an Obligor with respect to any Receivable that is either (i) an Eligible OECD Country Obligor or (ii) an Eligible Non-OECD Country Obligor.

 

“Eligible Non-OECD Country Obligor” means an Obligor with respect to any Receivable that is organized in or that has a head office (domicile), registered office, and chief executive office located in any country (other than the United States) that is not an OECD Country, is not a Sanctioned CountryJurisdiction and has a long-term foreign currency rating of at least “BBB-” by S&P and “Baa3” by Moody’s.

 

“Eligible OECD Country Obligor” means an Obligor with respect to any Receivable that is organized in or that has a head office (domicile), registered office, and chief executive office located in an OECD Country (other than the United States).

 

“Eligible Receivable” means, at any time of determination, a Pool Receivable:

 

(a)the Obligor of which is: (i) either a U.S. Obligor or an Eligible Foreign Obligor; (ii) not a Governmental Authority; (iii) not a Sanctioned Person; (iv) not subject to any Insolvency Proceeding; (v) not an Affiliate of the Borrower, the Servicer, the Parent, the Performance Guarantor or any Originator; (vi) not the Obligor with respect to Delinquent Receivables with an aggregate Outstanding Balance exceeding 50% of the aggregate Outstanding Balance of all such Obligor’s Pool Receivables; (vii) not a natural person and (viii) not a material supplier to any Originator or an Affiliate of a material supplier;

 

(b)for which an Insolvency Proceeding shall not have occurred with respect to the Obligor thereof or any other Person obligated thereon or owning any Related Security with respect thereto;

 

(c)that is denominated and payable only in Dollars or an Alternative Currency in the United States of America, and, solely for Receivables denominated in Dollars, the Obligor with respect to which has been instructed to remit Collections in respect thereof directly to a Lock-Box or Collection Account in the United States of America; provided however that if (i) a Ratings Event has occurred and is continuing and (ii) any payment on any Receivable denominated in an Alternative Currency is not transferred to a Collection Account within three (3) Business Days after receipt by any Syneos Party (any such Receivable, an “Applicable Receivable”), then any Receivable denominated in an Alternative Currency and the Obligor of which is the Obligor of such Applicable Receivable shall not be an Eligible Receivable;

 

(d)that does not have a due date which is 120 days or more after the original invoice date of such Receivable;

 

(e)that (i) arises under a Contract for the sale of goods or services in the ordinary course of the applicable Originator’s business and (ii) does not constitute a loan or other similar financial accommodation being provided by the applicable Originator;

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“Eligible Tier I Non-OECD Country Obligor” means an Obligor with respect to any Receivable that is organized in or that has a head office (domicile), registered office, and chief executive office located in any country (other than the United States) that is not an OECD Country, is not a Sanctioned CountryJurisdiction and has a long-term foreign currency rating of at least “A” by S&P and “A2” by Moody’s.

 

“Eligible Tier II Non-OECD Country Obligor” means any Eligible Non-OECD Country Obligor that is not an Eligible Tier I Non-OECD Country Obligor.

 

“Eligible Unbilled Receivable” means, at any time, any Unbilled Receivable that satisfies each of the following:  (a) the related Originator has recognized the related revenue on its financial books and records under GAAP and (b) if the Outstanding Balance of such Unbilled Receivable were included in the definition of Modified Days’ Sales Outstanding, Modified Days’ Sales Outstanding would not exceed the Maximum Term; provided, however, for purposes of exclusion of any Unbilled Receivable pursuant to this clause (b), Unbilled Receivables shall be excluded in order based on the Outstanding Balance (with the smallest amount excluded first). For purposes of this definition of “Eligible Unbilled Receivable”, “Maximum Term” means 105 days.

 

“Embargoed Property” means any property; (a) beneficially owned, directly or indirectly, by a Sanctioned Person; (b) that is due to or from a Sanctioned Person; (c) in which a Sanctioned Person otherwise holds any interest; (d) that is located in a Sanctioned Jurisdiction; or (e) that otherwise would cause any actual or possible violation by the Lenders or Administrative Agent of any applicable Anti-Terrorism Law or Sanctions Law if the Lenders were to obtain an encumbrance on, lien on, pledge of, or security interest in such property, or provide services in consideration of such property.

 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and any rule or regulation issued thereunder.

 

“ERISA Affiliate” means, with respect to any Person, any corporation, trade or business which together with the Person is a member of a controlled group of corporations or a controlled group of trades or businesses and would be deemed a “single employer” within the meaning of Sections 414(b), (c), (m) of the Code or Section 4001(b) of ERISA.

 

“Erroneous Payment” has the meaning assigned to it in Section 11.12(a).

 

“Erroneous Payment Deficiency Assignment” has the meaning assigned to it in Section 11.12(d).

 

“Erroneous Payment Return Deficiency” has the meaning assigned to it in Section 11.12(d).

 

“Erroneous Payment Subrogation Rights” has the meaning assigned to it in Section 11.12(d).

 

“Euro” or “€” each mean the single currency of participating member states of the European Monetary Union.

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744108212 18569090

 

 

 month that is three (3) Fiscal Months before the then-current Fiscal Month as of the date of determination; plus

 

(g)the excess (if any) of (i) the Dollar Equivalent ofthe aggregate Outstanding Balance of all Eligible Receivables that have a due date which is more than 90 days but less than 121 days after the original invoice date of such Receivable, over (ii) the product of (x) 10.0%, multiplied by (y) the Dollar Equivalent of the aggregate Outstanding Balance of all Receivables then in the Receivables Pool; plus

 

(h)the excess (if any) of (i) the Dollar Equivalent of the aggregate Outstanding Balance of all Eligible Receivables then denominated in an Alternative Currency over (ii) the product of (x) 2.55.0%, multiplied by (y) the Dollar Equivalent of the aggregate Outstanding Balance of all Receivables in the Receivables Pool; provided, however, that the Administrative Agent may in its sole discretion, upon prior notice to the Borrower, reduce the percentage in clause (ii)(x) above to 0.0% if a Ratings Event has occurred and is continuing during such period.

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended or otherwise modified from time to time.

 

“Excluded Obligor” has the meaning set forth in the Excluded Receivable Letter Agreement.

 

“Excluded Receivable” means (i) any Receivable (without giving effect to the proviso to the definition thereto) the Obligor of which is an Excluded Obligor and (ii) any other Receivable or category of Receivable set forth in the Excluded Receivable Letter Agreement.

 

“Excluded Receivable Letter Agreement” means that certain letter agreement re: Excluded Receivables, dated as of September 25, 2020, among the Borrower, the Servicer, the Lenders and the Administrative Agent, as the same may be amended, restated, supplemented or otherwise modified from time to time.

 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to an Affected Person or required to be withheld or deducted from a payment to an Affected Person: (a)  Taxes imposed on or measured by net income (however denominated), franchise Taxes and branch profits Taxes, in each case, (i) imposed as a result of such Affected Person being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in the Loans or Commitment pursuant to a law in effect on the date on which (i) such Lender makes a Loan or its Commitment or (ii) such Lender changes its lending office, except in each case to the extent that amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office and (c) any U.S. federal withholding Taxes imposed pursuant to FATCA.

 

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744108212 18569090

 

 

“Facility Limit” means $365,000,000400,000,000 as reduced from time to time pursuant to Section 2.02(e). References to the unused portion of the Facility Limit shall mean, at any time of determination, an amount equal to (x) the Facility Limit at such time, minus (y) the Aggregate Capital at such time.

 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code, any applicable intergovernmental agreement entered into between the United States and any other Governmental Authority in connection with the implementation of the foregoing and any fiscal or regulatory legislation, rules or official practices adopted pursuant to any such intergovernmental agreement.

 

“Federal Reserve Board” means the Board of Governors of the Federal Reserve System, or any entity succeeding to any of its principal functions.

 

“Fee Letter” has the meaning specified in Section 2.03(a). 

 

“Fees” has the meaning specified in Section 2.03(a).

“Final Maturity Date” means the date that (i) is one hundred eighty (180) days following the Termination Date or (ii) such earlier date on which the Aggregate Capital becomes due and payable pursuant to Section 10.01.

 

“Final Payout Date” means the date on or after the Termination Date when (i) the Aggregate Capital and Aggregate Interest have been paid in full, (ii) all Borrower Obligations shall have been paid in full, (iii) all other amounts owing to the Credit Parties and any other Borrower Indemnified Party or Affected Person hereunder and under the other Transaction Documents have been paid in full and (iv) all accrued Servicing Fees have been paid in full.

 

“Financial Officer” of any Person means, the chief executive officer, the chief financial officer, the senior vice president of finance, the chief accounting officer, the principal accounting officer, the controller, the treasurer or the assistant treasurer of such Person.

 

“Fiscal Month” means each calendar month.

 

“GAAP” means generally accepted accounting principles in the United States of America, consistently applied.

 

“GBP” means the lawful currency of the United Kingdom.

 

“Governmental Authority” means the government of the United States of America 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).

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“Insolvency Proceeding” means (a) any case, action or proceeding before any court or other Governmental Authority relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of debtors or (b) any general assignment for the benefit of creditors of a Person, composition, marshaling of assets for creditors of a Person, or other, similar arrangement in respect of its creditors generally or any substantial portion of its creditors, in each of clauses (a) and (b) undertaken under U.S. Federal, state or foreign law, including the Bankruptcy Code.

“Intercompany Loan” has the meaning set forth in the Purchase and Sale Agreement. 

“Intercompany Loan Agreement” has the meaning set forth in the Purchase and Sale Agreement.

 

“Intercompany Loan Ratio” means, at any time of determination, the ratio of (a) the aggregate outstanding principal balance of all Intercompany Loans at such time to (B) the aggregate “Purchase Price” (as defined in the Purchase and Sale Agreement) for all outstanding Receivables purchased under the Purchase and Sale Agreement at or prior to such time.

 

“Intended Tax Treatment” has the meaning set forth in Section 14.14.

 

“Interest” means, for each Loan for each day during any Interest Period (or portion thereof), the amount of interest accrued on the Capital of such Loan during such Interest Period (or portion thereof) in accordance with Section 2.03(b).

 

“Interest Period” means, with respect to each Loan, (a) before the Termination Date: (i) initially, the period commencing on the date such Loan is made pursuant to Section 2.01 (or in the case of any fees payable hereunder, commencing on the Closing Date) and ending on (but not including) the next Monthly Settlement Date and (ii) thereafter, each period commencing on such Monthly Settlement Date and ending on (but not including) the next Monthly Settlement Date and (b) on and after the Termination Date, such period (including a period of one day) as shall be selected from time to time by the Administrative Agent (with the consent or at the direction of the Majority Lenders) or, in the absence of any such selection, each period of 30 days from the last day of the preceding Interest Period.

 

“Interest Rate” means, for any day in any Interest Period for any Loan (or any portion of Capital thereof):

 

(a)(i) subject to Sections 5.04 and 5.06 and so long as no Event of Default has occurred and is continuing on such day, LMIR or solely to the extent determined pursuant to Section 2.05, Adjusted LIBOR; provided, however, that the Interest Rate applicable to any LIBOR Loan that is not advanced on a Monthly Settlement Date shall be LMIR for each day during the initial Interest Period applicable to such Loan from the date such Loan is made pursuant to Section 2.01 until the next occurring Monthly Settlement Date; or

 

(b)(j) for any day while an Event of Default has occurred and is continuing, an interest rate per annum equal to the sum of 2.50% per annum plus the greater of (i) the interest rate per annum determined for such Loan and such day pursuant to clause (a) above, and (ii) the Base Rate in effect on such day;

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NYFRB (or by such other recognized electronic source (such as Bloomberg) selected by the Administrative Agent for the purpose of displaying such rate); provided, that if such day is not a Business Day, the Overnight Bank Funding Rate for such day shall be such rate on the immediately preceding Business Day; provided, further, that if such rate shall at any time, for any reason, no longer exist, a comparable replacement rate determined by the Administrative Agent in consultation with the Borrower at such time (which determination shall be conclusive absent manifest error). If the Overnight Bank Funding Rate determined as above would be less than zero, then such rate shall be deemed to be zero. The rate of interest charged shall be adjusted as of each Business Day based on changes in the Overnight Bank Funding Rate without notice to the Borrower.

 

“Outstanding Balance” means, at any time of determination, with respect to any Receivable, the then outstanding principal balance thereof.

 

“Parent” means Syneos Health, Inc., a Delaware corporation.

 

“Parent Company” means any Person of which Parent is a direct or indirect Wholly-Owned Subsidiary.

 

“Parent Group” has the meaning set forth in Section 8.03(c).

 

“Participant” has the meaning set forth in Section 14.03(d). 

 

“Participant Register” has the meaning set forth in Section 14.03(e). 

 

“PATRIOT Act” has the meaning set forth in Section 14.15.

“Payment Recipient” has the meaning set forth in Section 11.12(a) of this Agreement.

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

“Pension Plan” means a pension plan as defined in Section 3(2) of ERISA that is subject to Title IV of ERISA or Section 412 of the Code and with respect to which any Originator, the Borrower, the Servicer, the Parent, the Performance Guarantor or any of their respective ERISA Affiliates may have any liability, contingent or otherwise.

 

“Percentage” means, at any time of determination, with respect to any Lender, a fraction (expressed as a percentage), (a) the numerator of which is (i) prior to the termination of all Commitments hereunder, its Commitment at such time or (ii) if all Commitments hereunder have been terminated, the aggregate outstanding Capital of all Loans being funded by the Lenders at such time and (b) the denominator of which is (i) prior to the termination of all Commitments hereunder, the aggregate Commitments of all Lenders at such time or (ii) if all Commitments hereunder have been terminated, the Aggregate Capital at such time.

 

“Performance Guarantor” means Parent.

 

“Performance Guaranty” means the Performance Guaranty, dated as of the Closing Date, by the Performance Guarantor in favor of the Administrative Agent for the benefit of the Secured

 

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(f)all of the Borrower’s rights, interests and claims under the Purchase and Sale Agreement and the other Transaction Documents; and

 

(g)all Collections and other proceeds (as defined in the UCC) of any of the foregoing.

“Release” has the meaning set forth in Section 4.01(a).

 

“Reportable Compliance Event” means that: (a) any Covered Entity becomes a Sanctioned Person, or is charged by indictment, criminal complaint, or similar charging instrument, arraigned, or custodially detained, penalized or the subject of an assessment for a penalty, or enters into a settlement with a Governmental Authority in connection with any Anti-Corruption Law, Sanctions Law or Anti-Terrorism Law, or any predicate crime to any Anti-Terrorism Law, or the Borrower or the Servicer has knowledge of facts or circumstances to the effect that it is reasonably likely that any aspect of itssuch Covered Entity’s operations is in actual or probablerepresents a violation of any Anti-Terrorism Law; (b) any Covered Entity engages in a transaction that has caused or may cause the Lenders or Administrative Agent to be in violation of any Sanctions Laws or Anti-Terrorism Laws; (c) any Collateral becomes Embargoed Property; or (d) the Borrower or the Servicer otherwise violates, or the Borrower or the Servicer reasonably believes that it will violate, any of the representations or covenants set forth in Sections 7.01(bb), 7.02(y), 8.01(v) or 8.01(o) of this Agreement.

 

“Reportable Event” means any reportable event as defined in Section 4043(c) of ERISA or the regulations issued thereunder with respect to a Pension Plan.

 

“Representatives” has the meaning set forth in Section 14.06(c).

 

“Required Capital Amount” means, as of any date of determination, an amount equal to the product of (i) the Loss Reserve Percentage at such time times (ii) the Net Receivables Pool Balance at such time.

 

“Restricted Payments” has the meaning set forth in Section 8.01(r).

 

“Returned Goods” means all right, title and interest in and to returned, repossessed or foreclosed goods and/or merchandise the sale of which gave rise to a Receivable; provided that such goods shall no longer constitute Returned Goods after a Deemed Collection has been deposited in a Collection Account with respect to the full Outstanding Balance of the related Receivables.

 

“S&P” means Standard & Poor’s Rating Services, a Standard & Poor’s Financial Services LLC business, and any successor thereto that is a nationally recognized statistical rating organization.

 

“Sanctioned CountryJurisdiction” means aany country, territory, or region that is the subject to a sanctions program maintained under any Anti-Terrorism Law, including any such country identified on the list maintained by OFAC and available at: http://www.treasury.gov/resource-center/sanctions/ Programs/Pages/Programs.aspx, or as otherwise published from time to timeof comprehensive country-wide or territory-wide sanctions

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 administered by OFAC (at the time of the Agreement, Cuba, Iran, North Korea, Syria and the Crimea region of Ukraine).

 

“Sanctioned Person” (i) A person named on the list of “Specially Designated Nationals” or “Blocked Persons” maintained by OFAC available at: http://www.treasury.gov/ resource-center/sanctions/SDN-List/Pages/default.aspx, or as otherwise published from time to time, (ii) (A) an agency of the government of a Sanctioned Country, (B) an organization controlled by a Sanctioned Country or (C) a person resident in a Sanctioned Country, to the extent subject to a sanctions program administered by OFAC, or (iii) any individual person, group, regime, entity or thing listed or otherwise recognized as a specially designated, prohibited, sanctioned or debarred person, group, regime, entity or thing, or subject to any limitations or prohibitions (including but not limited to the blocking of property or rejection of transactions), under any Anti-Terrorism Law.means (a) a Person that is the subject of sanctions administered by OFAC or the U.S. Department of State (“State”), including by virtue of being (i) named on OFAC’s list of “Specially Designated Nationals and Blocked Persons”; (ii) organized under the Applicable Laws of, ordinarily resident in, or physically located in a Sanctioned Jurisdiction; (iii) owned or controlled 50% or more in the aggregate, by one or more Persons that are the subject of sanctions administered by OFAC; (b) a Person that is the subject of sanctions maintained by the European Union (“E.U.”), including by virtue of being named on the E.U.’s “Consolidated list of persons, groups and entities subject to E.U. financial sanctions” or other, similar lists; (c) a Person that is the subject of sanctions maintained by the United Kingdom (“U.K.”), including by virtue of being named on the “Consolidated List Of Financial Sanctions Targets in the U.K.” or other, similar lists; or (d) a Person that is the subject of sanctions imposed by any Governmental Authority of a jurisdiction whose Applicable Laws apply to this Agreement.

 

“Sanctions Laws” means any Applicable Law in force or hereinafter enacted related to economic sanctions, including the International Emergency Economic Powers Act, 50 U.S.C. 1701, et seq., the Trading with the Enemy Act, 50 U.S.C. App. 1, et seq., 18 U.S.C. § 2332d, and 18 U.S.C. § 2339B.

 

“Scheduled Termination Date” means October 3, 2022.14, 2024.

 

“SEC” means the U.S. Securities and Exchange Commission or any governmental agencies substituted therefor.

 

“Secured Parties” means each Credit Party, each Borrower Indemnified Party and each Affected Person.

 

“Servicer” has the meaning set forth in the preamble to this Agreement.

 

“Servicer’s Account” means the deposit account with an account number ending in 4824 maintained by the Servicer or its Affiliate at Bank of America, N.A.

 

“Servicer Indemnified Amounts” has the meaning set forth in Section 13.02(a). 

 

“Servicer Indemnified Party” has the meaning set forth in Section 13.02(a). 

 

“Servicing Fee” means the fee referred to in Section 9.06(a) of this Agreement.

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respect to projected financial information, if any, such representation is made only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time.

 

(n)Anti-Money Laundering/International   Trade   Law   Compliance.No 

Covered Entity is a Sanctioned Person. No Covered Entity, either in its own right orSanctions Laws and Anti-Terrorism Laws. No: (a) Covered Entity, nor any employees, officers, directors or, to the Borrower’s knowledge, affiliates, consultants, brokers, or agents acting on a Covered Entity’s behalf in connection with this Agreement: (i) is a Sanctioned Person; (ii) to the Borrower’s knowledge, directly, or indirectly through any third party, (i) has any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism Law; (ii) does business in or with, or derives any of its income from investments in or transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; or (iii) engages in any dealings or transactionsis engaged in any transactions or other dealings with or for the benefit of any Sanctioned Person or Sanctioned Jurisdiction, or any transactions or other dealings that otherwise are prohibited by any Anti-Terrorism LawLaws or Sanctions Laws; (b) Collateral is Embargoed Property.

 

(o)Perfection Representations.

 

(i)This Agreement creates a valid and continuing security interest (as defined in the applicable UCC) in the Borrower’s right, title and interest in, to and under the Collateral which (A) security interest has been perfected and is enforceable against creditors of and purchasers from the Borrower and (B) will be free of all Adverse Claims (other than Permitted Adverse Claims) in such Collateral.

 

(ii)The Receivables constitute “accounts” or “general intangibles” within the meaning of Section 9-102 of the UCC.

 

(iii)The Borrower owns and has good and marketable title to the Collateral free and clear of any Adverse Claim (other than a Permitted Adverse Claim) of any Person.

 

(iv)All appropriate financing statements, financing statement amendments and continuation statements have been filed in the proper filing office in the appropriate jurisdictions under Applicable Law in order to perfect (and continue the perfection of) the sale and contribution of the Receivables and Related Security from each Originator to the Borrower pursuant to the Purchase and Sale Agreement and the grant by the Borrower of a security interest in the Collateral to the Administrative Agent pursuant to this Agreement.

 

(v)Other than the security interest granted to the Administrative Agent pursuant to this Agreement, the Borrower has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Collateral except as permitted by this Agreement and the other Transaction Documents. The Borrower has not authorized the filing of and is not aware of any

 

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(u)Taxes. The Borrower has (i) timely filed all tax returns (federal, state and local) required to be filed by it and (ii) paid, or caused to be paid, all taxes, assessments and other governmental charges, if any, other than taxes, assessments and other governmental charges being contested in good faith by appropriate proceedings and as to which adequate reserves have been provided in accordance with GAAP, except in each case to the extent that such failure to file or pay could not reasonably be expected to have a Borrower Material Adverse Effect.

 

(v)Tax Status. The Borrower (i) is, and shall at all relevant times continue to be, a “disregarded entity” within the meaning of U.S. Treasury Regulation § 301.7701-3 for U.S. federal income tax purposes that is wholly owned by a “United States person” (within the meaning of Section 7701(a)(30) of the Code) and (ii) is not and will not at any relevant time become an association (or publicly traded partnership) taxable as an association for U.S. federal income tax purposes. The Borrower is not subject to any Tax in any jurisdiction outside the United States.

 

(w)Opinions. The facts regarding the Borrower, the Servicer, each Originator, the Performance Guarantor, the Receivables, the Related Security and the related matters set forth or assumed in each of the opinions of counsel delivered in connection with this Agreement and the Transaction Documents are true and correct in all material respects.

 

(x)Other Transaction Documents. Each representation and warranty made by the Borrower under each other Transaction Document to which it is a party is true and correct in all material respects as of the date when made.

 

(y)Liquidity Coverage Ratio. The Borrower has not, does not and will not during this Agreement issue any LCR Security. The Borrower further represents and warrants that its assets and liabilities are consolidated with the assets and liabilities of Parent for purposes of GAAP.

 

(z)No Linked Accounts. Except for the Servicer’s Account, there are no Linked Accounts with respect to any Collection Account.

 

(aa)Beneficial Ownership Regulation. As of the Sixth Amendment Closing Date, the Borrower is an entity that is organized under the laws of the United States or of any state and at least 51% of whose common stock or analogous equity interest is owned directly or indirectly by a company listed on the New York Stock Exchange or the American Stock Exchange or designated as a NASDAQ National Market Security listed on the NASDAQ stock exchange and is excluded on that basis from the definition of “Legal Entity Customer” as defined in the Beneficial Ownership Regulation.

 

(bb)Anti-Corruption Laws. Each Covered Entity has (a) conducted its business in compliance with all Anti-Corruption Laws and (b) has, and shall ensure that each of its Subsidiaries has, instituted and maintains policies and procedures reasonably designed to promote compliance with Anti-Corruption Laws and Sanctions Laws.

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(l)Eligible Receivables. Each Receivable included as an Eligible Receivable in the calculation of the Net Receivables Pool Balance as of any date is an Eligible Receivable as of such date.

 

(m)Servicing Programs. No material license or approval is required for the Administrative Agent’s use of any software or other computer program used by the Servicer, any Originator or any Sub-Servicer in the servicing of the Pool Receivables, other than those which have been obtained and are in full force and effect.

 

(n)Servicing of Pool Receivables. Since the Closing Date there has been no material adverse change in the ability of the Servicer or any Sub-Servicer to service and collect the Pool Receivables and the Related Security.

 

(o)Other Transaction Documents. Each representation and warranty made by the Servicer under each other Transaction Document to which it is a party (including, without limitation, the Purchase and Sale Agreement) is true and correct in all material respects as of the date when made.

 

(p)No Material Adverse Effect. Since December 31, 2017, there has been no Material Adverse Effect on the Servicer.

 

(q)Investment Company Act. The Servicer is not an “investment company,” or a company “controlled” by an “investment company,” within the meaning of the Investment Company Act.

 

(r)Anti-Money Laundering/International   Trade   Law   Compliance.No Covered Entity is a Sanctioned Person. No Covered Entity, either in its own right orSanctions Laws and Anti-Terrorism Laws. No: (a) Covered Entity, nor any employees, officers, directors or, to the Servicer’s knowledge, affiliates, consultants, brokers, or agents acting on a Covered Entity’s behalf in connection with this Agreement: (i) is a Sanctioned Person; (ii) to the Servicer’s knowledge, directly, or indirectly through any third party, (i) has any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism Law; (ii) does business in or with, or derives any of its income from investments in oris engaged in any transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; or (iii) engages in any dealings or transactionsor other dealings with or for the benefit of any Sanctioned Person or Sanctioned Jurisdiction, or any transactions or other dealings that otherwise are prohibited by any Anti-Terrorism LawLaws or Sanctions Laws; (b) Collateral is Embargoed Property.

 

(s)Financial Condition. The audited consolidated balance sheets of Parent and its consolidated Subsidiaries as of December 31, 2017 and the related statements of income and shareholders’ equity of Parent and its consolidated Subsidiaries for the fiscal year then ended, copies of which have been furnished to the Administrative Agent and the Lenders, present fairly in all material respects the consolidated financial position of Parent and its consolidated Subsidiaries for the period ended on such date, all in accordance with GAAP.

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(t)Bulk Sales Act. No transaction contemplated by this Agreement requires compliance by it with any bulk sales act or similar law.

 

(u)Taxes.The Servicer has (i) timely filed all tax returns (federal, state, foreign and local) required to be filed by it and (ii) paid, or caused to be paid, all taxes, assessments and other governmental charges, if any, other than taxes, assessments and other governmental charges being contested in good faith by appropriate proceedings and as to which adequate reserves have been provided in accordance with GAAP, except in each case to the extent that the failure to file or pay could not reasonably be expected to have a Material Adverse Effect.

 

(v)Opinions. The facts regarding the Borrower, the Servicer, each Originator, the Performance Guarantor, the Receivables, the Related Security and the related matters set forth or assumed in each of the opinions of counsel delivered in connection with this Agreement and the Transaction Documents are true and correct in all material respects.

 

(w)Other Transaction Documents. Each representation and warranty made by the Servicer under each other Transaction Document to which it is a party is true and correct in all material respects as of the date when made.

 

(x)No Linked Accounts. Except for the Servicer’s Account, there are no Linked Accounts with respect to any Collection Account.

 

(y)Anti-Corruption Laws.Each Covered Entity has (a) conducted its business in compliance with all Anti-Corruption Laws and (b) has, and shall ensure that each of its Subsidiaries has, instituted and maintains policies and procedures reasonably designed to promote compliance with Anti-Corruption Laws and Sanctions Laws.

 

Notwithstanding any other provision of this Agreement or any other Transaction Document, the representations and warranties contained in this Section shall be continuing, and remain in full force and effect until the Final Payout Date.

 

ARTICLE VIII

 

COVENANTS

 

SECTION 8.01.  Covenants of the Borrower. At all times from the Closing Date until the Final Payout Date:

 

(a)Payment of Principal and Interest. The Borrower shall duly and punctually pay Capital, Interest, Fees and all other amounts payable by the Borrower hereunder in accordance with the terms of this Agreement.

 

(b)Existence. The Borrower shall keep in full force and effect its existence and rights as a limited liability company under the laws of the State of Delaware, and shall obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or shall be necessary to protect the validity and enforceability of this Agreement, the other Transaction Documents and the Collateral.

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 substance satisfactory to the Administrative Agent as to such UCC perfection and priority matters as the Administrative Agent may request at such time.

 

(v)Anti-Money Laundering/International Trade Law Compliance.The 

Borrower will notSanctions Laws and Anti-Terrorism Laws; Anti-Corruption Laws.  

 

(i)The Borrower covenants and agrees that (A) it shall promptly notify the Administrative Agent and each of the Lenders in writing upon the occurrence of a Reportable Compliance Event; and (B) if, at any time, any Collateral becomes Embargoed Property, then, in addition to all other rights and remedies available to the Administrative Agent and each of the Lenders, upon request by the Administrative Agent or any of the Lenders, the Borrower shall provide substitute Collateral acceptable to the Lenders that is not Embargoed Property.

 

(ii)  The Borrower will conduct its business in compliance with all Anti-Corruption Laws and maintain policies and procedures reasonably designed to promote compliance with Anti-Corruption Laws.

 

(iii)The Borrower hereby covenants and agrees it will not: (a) become a Sanctioned Person. No Covered Entity, either in its own right; (b) directly, or indirectly through any third party, will (a) have any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism Law; (b) do business in or with, or derive any of its income from investments in or transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; (c) engage in any dealings or transactions prohibited by any Anti-Terrorism Law or (d) use the proceeds of any Credit Extensiona third party, engage in any transactions or other dealings with or for the benefit of any Sanctioned Person or Sanctioned Jurisdiction, including any use of the proceeds of the facilities to fund any operations in, finance any investments or activities in, or, make any payments to, a Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law. The funds used to repay each Credit Extension will not bePerson or Sanctioned Jurisdiction; (c) repay the facilities with Embargoed Property or funds derived from any unlawful activity. The Borrower shall comply with all Anti-Terrorism Laws. The Borrower shall promptly notify the Administrative Agent and each Lender in writing upon the occurrence of a Reportable Compliance Event. The Borrower has not used and will not use the proceeds of any Credit Extension to fund any operations in, finance any investments or activities in or make any payments to, a Sanctioned Person or a Sanctioned Country.; or (d) cause any Lender or Administrative Agent to violate any Sanctions Law or Anti-Terrorism Law.

 

(iv)The Borrower hereby covenants and agrees that it will not, and will not permit any of its Subsidiaries to directly or indirectly, use the Loans or any proceeds thereof for any purpose which would breach any Anti-Corruption Laws.

 

(w)Borrower’s Net Worth. The Borrower shall not permit the Borrower’s Net Worth to be less than the Required Capital Amount.

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action, or execute and deliver such instruments as may be necessary (including, without limitation, such actions as are reasonably requested by the Administrative Agent) to maintain and perfect, as a first-priority interest, the Administrative Agent’s security interest in the Receivables, Related Security and Collections.   The Servicer shall, from time to time and within the time limits established by law, prepare and present to the Administrative Agent for the Administrative Agent’s authorization and approval, all financing statements, amendments, continuations or initial financing statements in lieu of a continuation statement, or other filings necessary to continue, maintain and perfect the Administrative Agent’s security interest as a first-priority interest. The Administrative Agent’s approval of such filings shall authorize the Servicer to file such financing statements under the UCC without the signature of the Borrower, any Originator or the Administrative Agent where allowed by Applicable Law.   Notwithstanding anything else in the Transaction Documents to the contrary, the Servicer shall not have any authority to file a termination, partial termination, release, partial release, or any amendment that deletes the name of a debtor or excludes collateral of any such financing statements filed in connection with the Transaction Documents, without the prior written consent of the Administrative Agent.

 

(n)Further Assurances; Change in Name or Jurisdiction of Origination, etc. The Servicer hereby authorizes and hereby agrees from time to time, at its own expense, promptly to execute (if necessary) and deliver all further instruments and documents, and to take all further actions, that may be necessary or desirable, or that the Administrative Agent may reasonably request, to perfect, protect or more fully evidence the security interest granted pursuant to this Agreement or any other Transaction Document, or to enable the Administrative Agent (on behalf of the Secured Parties) to exercise and enforce their respective rights and remedies under this Agreement or any other Transaction Document. Without limiting the foregoing, the Servicer hereby authorizes, and will, upon the request of the Administrative Agent, at the Servicer’s own expense, execute (if necessary) and file such financing statements or continuation statements, or amendments thereto, and such other instruments and documents, that may be necessary, or that the Administrative Agent may reasonably request, to perfect, protect or evidence any of the foregoing.

 

(o)Sanctions Laws and Anti-Terrorism Laws; Anti-Corruption Laws.

 

(i)The Servicer covenants and agrees that it shall promptly notify the Administrative Agent  and each  of the Lenders in writing upon the occurrence of a Reportable Compliance Event.

 

(ii)  The Servicer will conduct its business in compliance with all Anti-Corruption Laws and maintain policies and procedures reasonably designed to promote compliance with Anti-Corruption Laws.

 

(iii)(o) Anti-Money Laundering/International Trade Law Compliance.  The Servicer hereby covenants and agrees it will not: (a) become a Sanctioned Person. No Covered Entity, either in its own right; (b) directly, or indirectly through any third party, will (a) have any of its assets in a Sanctioned Country or in the possession, custody or control of a Sanctioned Person in violation of any Anti-Terrorism Law; (b) do business in or with, or derive any of its income from investments in or transactions with, any Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law; (c)

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 engage in any dealings or transactions prohibited by any Anti-Terrorism Law or (d) use the proceeds of any Credit Extensiona third party, engage in any transactions or other dealings with or for the benefit of any Sanctioned Person or Sanctioned Jurisdiction, including any use of the proceeds of the facilities to fund any operations in, finance any investments or activities in, or, make any payments to, a Sanctioned Country or Sanctioned Person in violation of any Anti-Terrorism Law. The funds used to repay each Credit Extension will not bePerson or Sanctioned Jurisdiction; (c) repay the facilities with Embargoed Property or funds derived from any unlawful activity. The Servicer shall comply with all Anti-Terrorism Laws. The Servicer shall promptly notify the Administrative Agent and each Lender in writing upon the occurrence of a Reportable Compliance Event.; or (d) cause any Lender or Administrative Agent to violate any Sanctions Law or Anti-Terrorism Law.

 

(iv)The Servicer hereby covenants and agrees that it will not, and will not permit any of its Subsidiaries to directly or indirectly, use the Loans or any proceeds thereof for any purpose which would breach any Anti-Corruption Laws.

 

(p)Taxes. The Servicer will (i) timely file all tax returns (federal, state and local) required to be filed by it and (ii) pay, or cause to be paid, all taxes, assessments and other governmental charges, if any, other than taxes, assessments and other governmental charges being contested in good faith by appropriate proceedings and as to which adequate reserves have been provided in accordance with GAAP, except in each case to the extent that such failure to file or pay could not reasonably be expected to have a Material Adverse Effect.

 

(q)Borrower’s Tax Status.The Servicer shall not take or cause any action to be taken that could result in the Borrower (i) being treated other than as a “disregarded entity” within the meaning of U.S. Treasury Regulation § 301.7701-3 for U.S. federal income tax purposes or (ii) becoming an association taxable as a corporation or a publicly traded partnership taxable as a corporation for U.S. federal income tax purposes.

 

(r)Linked Accounts. Except for the Servicer’s Account, the Servicer shall not permit any Linked Account to exist with respect to any Collection Account; provided, however, that if so instructed by the Administrative Agent (in its sole discretion) at any time if a Ratings Event has occurred and is continuing, the Servicer shall cause the Servicer’s Account to cease being a Linked Account promptly, but not later than 2 Business Days following the Borrower’s or the Servicer’s receipt of such instruction. The Servicer shall at all times ensure that (i) the account balance in the Servicer’s Account is greater than zero and will exceed the aggregate Settlement Item Amount of all Settlement Items at any time outstanding with respect to the Servicer’s Account and (ii) no amount will be debited against any Collection Account as a result of any Settlement Item that originated in the Servicer’s Account or any account other than a Collection Account.

 

(s)OtherAdditionalInformation.The Servicer will provide to the Administrative Agent and the Lenders such information and documentation as may reasonably be requested by the Administrative Agent or any Lender from time to time for purposes of compliance by the Administrative Agent or such Lender with applicable laws (including without limitation the PATRIOT Act and other “know your customer” and anti-money laundering rules

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notice of resignation, the departing Administrative Agent may, on behalf of the Secured Parties, petition a court of competent jurisdiction to appoint a successor Administrative Agent.

 

(b)Upon such acceptance of its appointment as Administrative Agent hereunder by a successor Administrative Agent, such successor Administrative Agent shall succeed to and become vested with all the rights and duties of the resigning Administrative Agent, and the resigning Administrative Agent shall be discharged from its duties and obligations under the Transaction Documents. After any resigning Administrative Agent’s resignation hereunder, the provisions of this Article XI and Article XIII shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the Administrative Agent.

 

SECTION 11.10. Structuring Agent.   Each of the parties hereto hereby acknowledges and agrees that the Structuring Agent shall not have any right, power, obligation, liability, responsibility or duty under this Agreement, other than the Structuring Agent’s right to receive fees pursuant to Section 2.03. Each Credit Party acknowledges that it has not relied, and will not rely, on the Structuring Agent in deciding to enter into this Agreement and to take, or omit to take, any action under any Transaction Document.

 

SECTION 11.11.LIBOR Notification.Section 5.06 (“Successor Adjusted LIBOR or LMIR”) provides a mechanism for determining an alternative rate of interest in the event that Adjusted LIBOR or LMIR is no longer available or in certain other circumstances. The Administrative Agent does not warrant or accept any responsibility for and shall not have any liability with respect to, the administration, submission or any other matter related to the London interbank offered rate or other rates in the definition of Adjusted LIBOR or LMIR or with respect to any alternative or successor rate thereto, or replacement rate therefor.

 

SECTION 11.12. Erroneous Payments.

 

(a)If the Administrative Agent notifies a Lender, Credit Party or Secured Party, or any Person who has received funds on behalf of a Lender, Credit Party or Secured Party (any such Lender, Credit Party, Secured Party or other recipient, a “Payment Recipient”) that the Administrative Agent has determined in its sole discretion (whether or not after receipt of any notice under immediately succeeding clause (b)) that any funds received by such Payment Recipient from the Administrative Agent or any of its Affiliates were erroneously or mistakenly transmitted to, or otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known to such Lender, Credit Party, Secured Party or other Payment Recipient on its behalf) (any such funds, whether transmitted or received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise, individually and collectively, an “Erroneous Payment”) and demands the return of such Erroneous Payment (or a portion thereof), 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 such Lender, Credit Party or Secured Party shall (or, with respect to any Payment Recipient who received such funds on its behalf, shall cause such Payment Recipient to) promptly, but in no event later than two Business Days thereafter, return to the Administrative Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same day funds (in the currency so received), together with interest thereon in respect of each day from and including the date such Erroneous Payment (or 

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portion thereof) was received by such Payment Recipient to the date such amount is repaid to the Administrative Agent in same day funds at the greater of the Overnight Bank Funding Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect. A notice of the Administrative Agent to any Payment Recipient under this clause (a) shall be conclusive, absent manifest error.

 

(b)Without limiting immediately preceding clause (a), each Lender, Credit Party or Secured Party, or any Person who has received funds on behalf of a Lender, Credit Party or Secured Party, hereby further agrees that if it receives a payment, prepayment or repayment (whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise) from the Administrative Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date from, that specified in a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates) with respect to such payment, prepayment or repayment, (y) that was not preceded or accompanied by a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates), or (z) that such Lender, Credit Party or Secured Party, or other such recipient, otherwise becomes aware was transmitted, or received, in error or by mistake (in whole or in part) in each case:

 

(i)(A) in the case of immediately preceding clauses (x) or (y), an error shall be presumed to have been made (absent written confirmation from the Administrative Agent to the contrary) or (B) an error has been made (in the case of immediately preceding clause (z)), in each case, with respect to such payment, prepayment or repayment; and

 

(ii)such Lender, Credit Party or Secured Party shall (and shall cause any other recipient that receives funds on its respective behalf to) promptly (and, in all events, within one Business Day of its knowledge of such error) notify the Administrative Agent of its receipt of such payment, prepayment or repayment, the details thereof (in reasonable detail) and that it is so notifying the Administrative Agent pursuant to this Section 11.12(b).

 

(c)Each Lender, Credit Party or Secured Party hereby authorizes the Administrative Agent to set off, net and apply any and all amounts at any time owing to such Lender, Credit Party or Secured Party under any Transaction Document, or otherwise payable or distributable by the Administrative Agent to such Lender, Credit Party or Secured Party from any source, against any amount due to the Administrative Agent under immediately preceding clause (a) or under the indemnification provisions of this Agreement.

 

(d)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 clause (a), from any Credit Party that has received such Erroneous Payment (or portion thereof) (and/or from any Payment Recipient who received such Erroneous Payment (or portion thereof) on its respective behalf) (such unrecovered amount, an “Erroneous Payment Return Deficiency”), upon the Administrative Agent’s notice to such Credit Party at any time, (i) such Credit Party shall be deemed to have assigned its Loans (but not its Commitments) in an amount equal to the Erroneous Payment Return Deficiency (or such lesser amount as the Administrative Agent may 

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specify) (such assignment of the Loans (but not Commitments) of the Erroneous Payment, the “Erroneous Payment Deficiency Assignment”) at par plus any accrued and unpaid interest (with the assignment fee to be waived by the Administrative Agent in such instance), and is hereby (together with the Borrower) deemed to execute and deliver an Assignment and Assumption with respect to such Erroneous Payment Deficiency Assignment, and such Credit Party shall deliver any Notes evidencing such Loans to the Borrower or the Administrative Agent, (ii) the Administrative Agent as the assignee Lender shall be deemed to acquire the Erroneous Payment Deficiency Assignment, (iii) upon such deemed acquisition, the Administrative Agent as the assignee Lender shall become a Credit Party, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment and the assigning Lender or assigning Credit Party shall cease to be a Credit Party, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment, excluding, for the avoidance of doubt, its obligations under the indemnification provisions of this Agreement and its applicable Commitments which shall survive as to such assigning Lender or assigning Credit Party and (iv) the Administrative Agent may reflect in the Register its ownership interest in the Loans subject to the Erroneous Payment Deficiency Assignment. The Administrative Agent may, in its discretion, sell any Loans acquired pursuant to an Erroneous Payment Deficiency Assignment and upon receipt of the proceeds of such sale, the Erroneous Payment Return Deficiency owing by the applicable Credit Party shall be reduced by the net proceeds of the sale of such Loan (or portion thereof), and the Administrative Agent shall retain all other rights, remedies and claims against such Credit Party (and/or against any recipient that receives funds on its respective behalf). For the avoidance of doubt, no Erroneous Payment Deficiency Assignment will reduce the Commitments of any Credit Party and such Commitments shall remain available in accordance with the terms of this Agreement. In addition, each party hereto agrees that, except to the extent that the Administrative Agent has sold a Loan (or portion thereof) acquired pursuant to an Erroneous Payment Deficiency Assignment, and irrespective of whether the Administrative Agent may be equitably subrogated, the Administrative Agent shall be contractually subrogated to all the rights and interests of the applicable Lender, Credit Party or Secured Party under the Transaction Documents with respect to each Erroneous Payment Return Deficiency (the “Erroneous Payment Subrogation Rights”).

 

(e)The parties hereto agree that an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Borrower Obligations owed by the Borrower or any other Syneos Party, except, in each case, to the extent such Erroneous Payment is, and solely with respect to the amount of such Erroneous Payment that is, comprised of funds received by the Administrative Agent from the Borrower or any other Syneos Party for the purpose of making such Erroneous Payment; provided that this Section 11.12 shall not be interpreted to increase (or accelerate the due date for), or have the effect of increasing (or accelerating the due date for), the Borrower Obligations relative to the amount (and/or timing for payment) of the Borrower Obligations that would have been payable had such Erroneous Payment not been made by the Administrative Agent. For the avoidance of doubt, the foregoing proviso shall not derogate from any obligations (including indemnification obligations) of the Borrower set forth in any other Section of this Agreement with respect to any Erroneous Payment or otherwise.

 

(f)To the extent permitted by Applicable Law, no Payment Recipient shall assert any right or claim to an Erroneous Payment, and hereby waives, and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand,

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 claim or counterclaim by the Administrative Agent for the return of any Erroneous Payment received, including without limitation waiver of any defense based on “discharge for value” or any similar doctrine.

 

(g)Each party’s obligations, agreements and waivers under this Section 11.12 shall survive the resignation or replacement of the Administrative Agent, the termination of the Commitments and/or the repayment, satisfaction or discharge of all Borrower Obligations (or any portion thereof) under any Transaction Document.

ARTICLE XII

[RESERVED]

ARTICLE XIII

INDEMNIFICATION

SECTION 13.01. Indemnities by the Borrower.

 

(a)Without limiting any other rights that the Administrative Agent, the Credit Parties, the Affected Persons and their respective assigns, officers, directors, agents and employees (each, a “Borrower Indemnified Party”) may have hereunder or under Applicable Law, the Borrower hereby agrees to indemnify each Borrower Indemnified Party from and against any and all claims, losses and liabilities (including Attorney Costs) (all of the foregoing being collectively referred to as “Borrower Indemnified Amounts”) arising out of or resulting from this Agreement or any other Transaction Document or the use of proceeds of the Credit Extensions or the security interest in respect of any Pool Receivable or any other Collateral; excluding, however, (a) any portion of Borrower Indemnified Amounts to the extent a final non-appealable judgment of a court of competent jurisdiction holds that such Borrower Indemnified Amounts resulted from the gross negligence or willful misconduct by the Borrower Indemnified Party seeking indemnification and (b) Taxes that are covered by Section 5.03 (other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim). Without limiting or being limited by the foregoing, the Borrower shall pay within 10 days of demand (it being understood that if any portion of such payment obligation is made from Collections, such payment will be made at the time and in the order of priority set forth in Section 4.01), to each Borrower Indemnified Party any and all amounts necessary to indemnify such Borrower Indemnified Party from and against any and all Borrower Indemnified Amounts relating to or resulting from any of the following (but excluding Borrower Indemnified Amounts and Taxes described in clauses (a) and (b) above):

 

(i)any Pool Receivable which the Borrower or the Servicer includes as an Eligible Receivable as part of the Net Receivables Pool Balance but which is not an Eligible Receivable at such time;

 

(ii)any representation, warranty or statement made or deemed made by the Borrower (or any of its respective officers) under or in connection with this Agreement, any of the other Transaction Documents, any Information Package, any

 

 

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SCHEDULE I

Commitments

 

 

 

 

 

			
	
PNC Bank, National Association

	
Party
	
Capacity
	
Commitment

	
PNC Bank, National Association
	
Lender
	
$300,000,000325,000,000

 

 

 

 

			
	
Regions Bank

	
Party
	
Capacity
	
Commitment

	
Regions Bank
	
Lender
	
$65,000,00075,000,000

 

 

Schedule I- 1

744108212 18569090

 

 

Annex A

(attached)

 

 

Annex A

744071033 18569090

 

 

SYNEOS HEALTH, LLC (f/k/a INC RESEARCH, LLC) 
PNC BANK, NATIONAL ASSOCIATION

CLOSING MEMORANDUM

FOR

FACILITY UPSIZE

AND

RENEWAL OF

TRADE RECEIVABLES SECURITIZATION PROGRAM

For October 13, 2021 Closing

Parties and Abbreviations:

	
Administrative Agent
	
PNC

	
BH
	
Baker & Hostetler LLP, Ohio counsel to the Syneos Parties

	
BofA
	
Bank of America, N.A.

	
Borrower
	
Syneos Health Receivables LLC, a Delaware limited liability company structured as a typical bankruptcy-remote special purpose entity

	
Collection Account Banks
	
Wells and BofA

	
DLA
	
DLA Piper LLP, North Carolina counsel to the Syneos Parties

	
Lenders
	
PNC and Regions

	
JPM
	
JPMorgan Chase Bank, N.A.

	
MB
	
Mayer Brown LLP, counsel to the Lenders

	
Originators
	
The Originators set forth on Schedule I

	
Performance Guarantor
	
Syneos

	
PNC
	
PNC Bank, National Association

	
Regions
	
Regions Bank

	
Servicer
	
Syneos Health

	
Syneos
	
Syneos Health, Inc., a Delaware corporation

	
Syneos Counsel
	
Latham & Watkins LLP, counsel to the Syneos Parties

 

 

 

 

 

	
Syneos Health
	
Syneos Health, LLC (f/k/a INC Research, LLC), a Delaware limited liability company

	
Syneos Parties
	
Each of the Servicer, the Originators, the Borrower and the Performance Guarantor

	
Structuring Agent
	
PNC Capital Markets LLC

	
Wyrick
	
Wyrick Robbins Yates & Ponton LLP, counsel to the Syneos Parties

 

 

 

 

2

 

 

 

 

		
	
Document

	
A.
	
BASIC DOCUMENTS

	
1. 
	
Eleventh Amendment to Receivables Financing Agreement

	
2. 
	
Sixth Amendment to Purchase and Sale Agreement

	
3. 
	
Amended and Restated Fee Letter

	
4. 
	
Amended and Restated Performance Guaranty

	
B.
	
LEGAL OPINIONS

	
5.
	
Opinion of counsel to Syneos Health, Syneos and the Borrower re: general corporate matters, enforceability, no-conflicts with organizational documents, material agreements, New York and Federal law, ’40 Act and Volcker Rule matters

	
C.
	
MISCELLANEOUS

	
6.
	
Pro Forma Information Package

 

 

 

3

 

 

 

 

 

Schedule I

Name and Jurisdiction of the Originators

		
	
Legal Name
	
Jurisdiction

	
Addison Whitney LLC
	
North Carolina

	
BIOSECTOR 2 LLC
	
New York

	
CADENT MEDICAL COMMUNICATIONS, LLC
	
Ohio

	
Chamberlain Communications LLC
	
Delaware

	
CHANDLER CHICCO AGENCY, L.L.C.
	
New York

	
GERBIG, SNELL/WEISHEIMER ADVERTISING, LLC
	
Ohio

	
Syneos Health Medical Communications, LLC
	
Ohio

	
NAVICOR GROUP, LLC
	
Ohio

	
Palio + Ignite, LLC
	
Ohio

	
Syneos Health Communications, Inc.
	
Ohio

	
THE SELVA GROUP, LLC
	
Ohio

	
Taylor Strategy Partners, LLC
	
Ohio

	
Syneos Health, LLC (f/k/a/ INC Research, LLC)
	
Delaware

	
inVentiv Health Clinical, LLC
	
Delaware

	
inVentiv Commercial Services, LLC
	
New Jersey

 

 

4

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