Document:

Document

EXHIBIT 4.5

Appian Corporation

and

_____________, As Warrant Agent
Form of Debt Securities 
Warrant Agreement

Dated As Of __________

APPIAN CORPORATION. FORM OF DEBT SECURITIES WARRANT AGREEMENT
THIS DEBT SECURITIES WARRANT AGREEMENT (this “Agreement”), dated as of [●], between APPIAN CORPORATION, a Delaware corporation (the “Company”), and [●], a [corporation] [national banking association] organized and existing under the laws of [●] and having a corporate trust office in [●], as warrant agent (the “Warrant Agent”).
WHEREAS, the Company has entered into an indenture dated as of [●] (the “Indenture”), with [●], as trustee (such trustee, and any successors to such trustee, herein called the “Trustee”), providing for the issuance from time to time of its debt securities, to be issued in one or more series as provided in the Indenture (the “Debt Securities”);
WHEREAS, the Company proposes to sell [If Warrants are sold with other securities —[title of such other securities being offered] (the “Other Securities”) with] warrant certificates evidencing one or more warrants (the “Warrants” or, individually, a “Warrant”) representing the right to purchase [title of Debt Securities purchasable through exercise of Warrants] (the “Warrant Debt Securities”), such warrant certificates and other warrant certificates issued pursuant to this Agreement being herein called the “Warrant Certificates”; and 
WHEREAS, the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing so to act, in connection with the issuance, registration, transfer, exchange, exercise and replacement of the Warrant Certificates, and in this Agreement wishes to set forth, among other things, the form and provisions of the Warrant Certificates and the terms and conditions on which they may be issued, registered, transferred, exchanged, exercised and replaced.
NOW THEREFORE, in consideration of the premises and of the mutual agreements herein contained, the parties hereto agree as follows:
ARTICLE 1

ISSUANCE OF WARRANTS AND EXECUTION AND
DELIVERY OF WARRANT CERTIFICATES
1.1Issuance of Warrants. [If Warrants alone — Upon issuance, each Warrant Certificate shall evidence one or more Warrants.] [If Other Securities and Warrants — Warrant Certificates will be issued in connection with the issuance of the Other Securities but shall be separately transferable and each Warrant Certificate shall evidence one or more Warrants.] Each Warrant evidenced thereby shall represent the right, subject to the provisions contained herein and therein, to purchase one Warrant Debt Security. [If Other Securities and Warrants — Warrant Certificates will be issued with the Other Securities and each Warrant Certificate will evidence [●] Warrants for each [$[●] principal amount] [[●] shares] of Other Securities issued.]
1.2Execution and Delivery of Warrant Certificates.  Each Warrant Certificate, whenever issued, shall be in registered form substantially in the form set forth in Exhibit A hereto, shall be dated the date of its countersignature by the Warrant Agent and may have such letters, numbers, or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon as the officers of the Company executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions of this Agreement, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange on which the Warrants may be listed, or to conform to usage.  The Warrant Certificates shall be signed on behalf of the Company by any of its present or future chief executive officers, presidents, senior vice presidents, vice presidents, chief financial officers, chief legal officers, treasurers, assistant treasurers, controllers, assistant controllers, secretaries or assistant secretaries under its corporate seal reproduced thereon.  Such signatures may be manual or facsimile signatures of such authorized officers and may be imprinted or otherwise reproduced on the Warrant Certificates.  The seal of the Company may be in the form of a facsimile thereof and may be impressed, affixed, imprinted or otherwise reproduced on the Warrant Certificates.
No Warrant Certificate shall be valid for any purpose, and no Warrant evidenced thereby shall be exercisable, until such Warrant Certificate has been countersigned by the manual signature of the Warrant Agent.  Such signature by the Warrant 
1

Agent upon any Warrant Certificate executed by the Company shall be conclusive evidence that the Warrant Certificate so countersigned has been duly issued hereunder.
In case any officer of the Company who shall have signed any of the Warrant Certificates either manually or by facsimile signature shall cease to be such officer before the Warrant Certificates so signed shall have been countersigned and delivered by the Warrant Agent, such Warrant Certificates may be countersigned and delivered notwithstanding that the person who signed such Warrant Certificates ceased to be such officer of the Company; and any Warrant Certificate may be signed on behalf of the Company by such persons as, at the actual date of the execution of such Warrant Certificate, shall be the proper officers of the Company, although at the date of the execution of this Agreement any such person was not such officer.
The term “holder” or “holder of a Warrant Certificate” as used herein shall mean any person in whose name at the time any Warrant Certificate shall be registered upon the books to be maintained by the Warrant Agent for that purpose.
1.3Issuance of Warrant Certificates.  Warrant Certificates evidencing the right to purchase Warrant Debt Securities may be executed by the Company and delivered to the Warrant Agent upon the execution of this Agreement or from time to time thereafter.  The Warrant Agent shall, upon receipt of Warrant Certificates duly executed on behalf of the Company, countersign such Warrant Certificates and shall deliver such Warrant Certificates to or upon the order of the Company.
ARTICLE 2

WARRANT PRICE, DURATION AND EXERCISE OF WARRANTS
2.1Warrant Price.  During the period specified in Section 2.2, each Warrant shall, subject to the terms of this Agreement and the applicable Warrant Certificate, entitle the holder thereof to purchase the principal amount of Warrant Debt Securities specified in the applicable Warrant Certificate at an exercise price of [●]% of the principal amount thereof [plus accrued amortization, if any, of the original issue discount of the Warrant Debt Securities] [plus accrued interest, if any, from the most recent date from which interest shall have been paid on the Warrant Debt Securities or, if no interest shall have been paid on the Warrant Debt Securities, from the date of their initial issuance.] [The original issue discount ($[●] for each $1,000 principal amount of Warrant Debt Securities) will be amortized at a [●]% annual rate, computed on a[n] [semi-] annual basis [using a 360-day year consisting of twelve 30-day months].] Such purchase price for the Warrant Debt Securities is referred to in this Agreement as the “Warrant Price.  
2.2Duration of Warrants.  Each Warrant may be exercised in whole or in part at any time, as specified herein, on or after [the date thereof] [●] and at or before [●] p.m., [City] time, on [●] or such later date as the Company may designate by notice to the Warrant Agent and the holders of Warrant Certificates mailed to their addresses as set forth in the record books of the Warrant Agent (the “Expiration Date”).  Each Warrant not exercised at or before [●] p.m., [City] time, on the Expiration Date shall become void, and all rights of the holder of the Warrant Certificate evidencing such Warrant under this Agreement shall cease.
2.3Exercise of Warrants.
(a)During the period specified in Section 2.2, the Warrants may be exercised to purchase a whole number of Warrant Debt Securities in registered form by providing certain information as set forth on the reverse side of the Warrant Certificate and by paying in full, in lawful money of the United States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available funds] the Warrant Price for each Warrant Debt Security with respect to which a Warrant is being exercised to the Warrant Agent at its corporate trust office, provided that such exercise is subject to receipt within five business days of such payment by the Warrant Agent of the Warrant Certificate with the form of election to purchase Warrant Debt Securities set forth on the reverse side of the Warrant Certificate properly completed and duly executed.  The date on which payment in full of the Warrant Price is received by the Warrant Agent shall, subject to receipt of the Warrant Certificate as aforesaid, be deemed to be the date on which the Warrant is exercised; provided, however, that if, at the date of receipt of such Warrant Certificates and payment in full of the Warrant Price, the transfer books for the Warrant Debt Securities purchasable upon the exercise of such Warrants shall be closed, no such receipt of such Warrant Certificates and no such payment of such Warrant Price shall be effective to constitute the person so designated to be named as the holder of record of such Warrant Debt Securities on such date, but shall be effective to constitute such person as the holder of record of such Warrant Debt Securities for all purposes at the opening of 
2

business on the next succeeding day on which the transfer books for the Warrant Debt Securities purchasable upon the exercise of such Warrants shall be opened, and the certificates for the Warrant Debt Securities in respect of which such Warrants are then exercised shall be issuable as of the date on such next succeeding day on which the transfer books shall next be opened, and until such date the Company shall be under no duty to deliver any certificate for such Warrant Debt Securities.  The Warrant Agent shall deposit all funds received by it in payment of the Warrant Price in an account of the Company maintained with it and shall advise the Company by telephone at the end of each day on which a payment for the exercise of Warrants is received of the amount so deposited to its account.  The Warrant Agent shall promptly confirm such telephone advice to the Company in writing.
(b)The Warrant Agent shall, from time to time, as promptly as practicable, advise the Company of (i) the number of Warrant Debt Securities with respect to which Warrants were exercised, (ii) the instructions of each holder of the Warrant Certificates evidencing such Warrants with respect to delivery of the Warrant Debt Securities to which such holder is entitled upon such exercise, (iii) delivery of Warrant Certificates evidencing the balance, if any, of the Warrants for the remaining Warrant Debt Securities after such exercise, and (iv) such other information as the Company or the Trustee shall reasonably require.
(c)As soon as practicable after the exercise of any Warrant, the Company shall issue pursuant to the Indenture, in authorized denominations, to or upon the order of the holder of the Warrant Certificate evidencing such Warrant the Warrant Debt Securities to which such holder is entitled, in fully registered form, registered in such name or names as may be directed by such holder.  If fewer than all of the Warrants evidenced by such Warrant Certificate are exercised, the Company shall execute, and an authorized officer of the Warrant Agent shall manually countersign and deliver, a new Warrant Certificate evidencing Warrants for the number of Warrant Debt Securities remaining unexercised.
(d)The Company shall not be required to pay any stamp or other tax or other governmental charge required to be paid in connection with any transfer involved in the issue of the Warrant Debt Securities, and in the event that any such transfer is involved, the Company shall not be required to issue or deliver any Warrant Debt Securities until such tax or other charge shall have been paid or it has been established to the Company’s satisfaction that no such tax or other charge is due.
(e)Prior to the issuance of any Warrants there shall have been reserved, and the Company shall at all times through the Expiration Date keep reserved, out of its authorized but unissued Warrant Debt Securities, a number of shares sufficient to provide for the exercise of the Warrants.
ARTICLE 3

OTHER PROVISIONS RELATING TO RIGHTS OF HOLDERS OF
WARRANT CERTIFICATES
3.1No Rights as Holder of Warrant Debt Securities Conferred by Warrants or Warrant Certificates.  No Warrant Certificate or Warrant evidenced thereby shall entitle the holder thereof to any of the rights of a holder of Warrant Debt Securities, including, without limitation, the right to receive the payment of principal of (or premium, if any) or interest, if any, on the Warrant Debt Securities or to enforce any of the covenants in the Indenture.
3.2Lost, Stolen, Mutilated or Destroyed Warrant Certificates.  Upon receipt by the Warrant Agent of evidence reasonably satisfactory to it and the Company of the ownership of and the loss, theft, destruction or mutilation of any Warrant Certificate and/or indemnity reasonably satisfactory to the Warrant Agent and the Company and, in the case of mutilation, upon surrender of the mutilated Warrant Certificate to the Warrant Agent for cancellation, then, in the absence of notice to the Company or the Warrant Agent that such Warrant Certificate has been acquired by a bona fide purchaser, the Company shall execute, and an authorized officer of the Warrant Agent shall manually countersign and deliver, in exchange for or in lieu of the lost, stolen, destroyed or mutilated Warrant Certificate, a new Warrant Certificate of the same tenor and evidencing Warrants for a like principal amount of Warrant Debt Securities.  Upon the issuance of any new Warrant Certificate under this Section 3.2, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Warrant Agent) in connection therewith.  Every substitute Warrant Certificate executed and delivered pursuant to this Section 3.2 in lieu of any lost, stolen or destroyed Warrant Certificate shall represent an additional contractual obligation of the Company, whether or not 
3

the lost, stolen or destroyed Warrant Certificate shall be at any time enforceable by anyone, and shall be entitled to the benefits of this Agreement equally and proportionately with any and all other Warrant Certificates duly executed and delivered hereunder.  The provisions of this Section 3.2 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement of mutilated, lost, stolen or destroyed Warrant Certificates.
3.3Holder of Warrant Certificate May Enforce Rights.  Notwithstanding any of the provisions of this Agreement, any holder of a Warrant Certificate, without the consent of the Warrant Agent, , the Trustee,  the holder of any Warrant Debt Securities or the holder of any other Warrant Certificate, may, in such holder’s own behalf and for such holder’s own benefit, enforce, and may institute and maintain any suit, action or proceeding against the Company suitable to enforce, or otherwise in respect of, such holder’s right to exercise the Warrants evidenced by such holder’s Warrant Certificate in the manner provided in such holder’s Warrant Certificates and in this Agreement.
3.4Merger, Sale, Conveyance or Lease. In case of (a) any share exchange, merger or similar transaction of the Company with or into another person or entity (other than a share exchange, merger or similar transaction in which the Company is the acquiring or surviving corporation) or (b) the sale, exchange, lease, transfer or other disposition of all or substantially all of the properties and assets of the Company as an entirety (in any such case, a “Reorganization Event”), then, as a condition of such Reorganization Event, lawful provisions shall be made, and duly executed documents evidencing the same from the Company’s successor shall be delivered to the holders of the Warrants, so that such successor shall succeed to and be substituted for the Company, and assume all the Company’s obligations under, this Agreement and the Warrants. The Company shall thereupon be relieved of any further obligation hereunder or under the Warrants, and the Company as the predecessor corporation may thereupon or at any time thereafter be dissolved, wound up or liquidated. Such successor or assuming entity thereupon may cause to be signed, and may issue either in its own name or in the name of the Company, any or all of the Warrants issuable hereunder which heretofore shall not have been signed by the Company, and may execute and deliver securities in its own name, in fulfillment of its obligations to deliver Warrant Debt Securities upon exercise of the Warrants. All the Warrants so issued shall in all respects have the same legal rank and benefit under this Agreement as the Warrants theretofore or thereafter issued in accordance with the terms of this Agreement as though all of such Warrants had been issued at the date of the execution hereof. In any case of any such Reorganization Event, such changes in phraseology and form (but not in substance) may be made in the Warrants thereafter to be issued as may be appropriate. The Warrant Agent may receive a written opinion of legal counsel as conclusive evidence that any such Reorganization Event complies with the provisions of this Section 3.4.
3.5Notice to Warrantholders.  In case the Company shall (a) effect any Reorganization Event or (b) make any distribution on or in respect of the [title of Warrant Debt Securities] in connection with the dissolution, liquidation or winding up of the Company, then the Company shall mail to each holder of Warrants at such holder’s address as it shall appear on the books of the Warrant Agent, at least ten days prior to the applicable date hereinafter specified, a notice stating the date on which such Reorganization Event, dissolution, liquidation or winding up is expected to become effective, and the date as of which it is expected that holders of [title of Warrant Debt Securities] of record shall be entitled to exchange their shares of [title of Warrant Debt Securities] for securities or other property deliverable upon such Reorganization Event, dissolution, liquidation or winding up. No failure to mail such notice nor any defect therein or in the mailing thereof shall affect any such transaction.
ARTICLE 4

EXCHANGE AND TRANSFER OF WARRANT CERTIFICATES
4.1Exchange and Transfer of Warrant Certificates. Upon surrender at the corporate trust office of the Warrant Agent, Warrant Certificates evidencing Warrants may be exchanged for Warrant Certificates in other denominations evidencing such Warrants or the transfer thereof may be registered in whole or in part; provided that such other Warrant Certificates evidence Warrants for the same aggregate principal amount of Warrant Debt Securities as the Warrant Certificates so surrendered.  The Warrant Agent shall keep, at its corporate trust office, books in which, subject to such reasonable regulations as it may prescribe, it shall register Warrant Certificates and exchanges and transfers of outstanding Warrant Certificates, upon surrender of the Warrant Certificates to the Warrant Agent at its corporate trust office for exchange or registration of transfer, properly endorsed or accompanied by appropriate instruments of registration of transfer and written instructions for transfer, all in form satisfactory to the Company and the Warrant Agent.  No service charge shall be made for any exchange or registration of transfer of Warrant Certificates, but the Company may require payment of a sum sufficient to cover any stamp or other tax or other governmental charge that may be imposed in connection with any such exchange or registration of transfer.  Whenever 
4

any Warrant Certificates are so surrendered for exchange or registration of transfer, an authorized officer of the Warrant Agent shall manually countersign and deliver to the person or persons entitled thereto a Warrant Certificate or Warrant Certificates duly authorized and executed by the Company, as so requested.  The Warrant Agent shall not be required to effect any exchange or registration of transfer which will result in the issuance of a Warrant Certificate evidencing a Warrant for a fraction of a Warrant Debt Security or a number of Warrants for a whole number of Warrant Debt Securities and a fraction of a Warrant Debt Security.  All Warrant Certificates issued upon any exchange or registration of transfer of Warrant Certificates shall be the valid obligations of the Company, evidencing the same obligations and entitled to the same benefits under this Agreement as the Warrant Certificate surrendered for such exchange or registration of transfer.
4.2Treatment of Holders of Warrant Certificates. The Company, the Warrant Agent and all other persons may treat the registered holder of a Warrant Certificate as the absolute owner thereof for any purpose and as the person entitled to exercise the rights represented by the Warrants evidenced thereby, any notice to the contrary notwithstanding.
4.3Cancellation of Warrant Certificates.  Any Warrant Certificate surrendered for exchange, registration of transfer or exercise of the Warrants evidenced thereby shall, if surrendered to the Company, be delivered to the Warrant Agent and all Warrant Certificates surrendered or so delivered to the Warrant Agent shall be promptly canceled by the Warrant Agent and shall not be reissued and, except as expressly permitted by this Agreement, no Warrant Certificate shall be issued hereunder in exchange therefor or in lieu thereof. The Warrant Agent shall deliver to the Company from time to time or otherwise dispose of canceled Warrant Certificates in a manner satisfactory to the Company.
ARTICLE 5

CONCERNING THE WARRANT AGENT
5.1Warrant Agent.  The Company hereby appoints [●] as Warrant Agent of the Company in respect of the Warrants and the Warrant Certificates upon the terms and subject to the conditions herein set forth, and [●] hereby accepts such appointment.  The Warrant Agent shall have the powers and authority granted to and conferred upon it in the Warrant Certificates and hereby and such further powers and authority to act on behalf of the Company as the Company may hereafter grant to or confer upon it.  All of the terms and provisions with respect to such powers and authority contained in the Warrant Certificates are subject to and governed by the terms and provisions hereof.
5.2Conditions of Warrant Agent’s Obligations.  The Warrant Agent accepts its obligations herein set forth upon the terms and conditions hereof, including the following to all of which the Company agrees and to all of which the rights hereunder of the holders from time to time of the Warrant Certificates shall be subject:
(a)Compensation and Indemnification.  The Company agrees promptly to pay the Warrant Agent the compensation to be agreed upon with the Company for all services rendered by the Warrant Agent and to reimburse the Warrant Agent for reasonable out-of-pocket expenses (including reasonable counsel fees) incurred without negligence, bad faith or willful misconduct by the Warrant Agent in connection with the services rendered hereunder by the Warrant Agent.  The Company also agrees to indemnify the Warrant Agent for, and to hold it harmless against, any loss, liability or expense incurred without negligence, bad faith or willful misconduct on the part of the Warrant Agent, arising out of or in connection with its acting as Warrant Agent hereunder, including the reasonable costs and expenses of defending against any claim of such liability.
(b)Agent for the Company.  In acting under this Agreement and in connection with the Warrant Certificates, the Warrant Agent is acting solely as agent of the Company and does not assume any obligations or relationship of agency or trust for or with any of the holders of Warrant Certificates or beneficial owners of Warrants.
(c)Counsel.  The Warrant Agent may consult with counsel satisfactory to it, which may include counsel for the Company, and the written advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in accordance with the advice of such counsel.
(d)Documents.  The Warrant Agent shall be protected and shall incur no liability for or in respect of any action taken or omitted by it in reliance upon any Warrant Certificate, notice, direction, consent, certificate, affidavit, 
5

statement or other paper or document reasonably believed by it to be genuine and to have been presented or signed by the proper parties.
(e)Certain Transactions.  The Warrant Agent, and its officers, directors and employees, may become the owner of, or acquire any interest in, Warrants, with the same rights that it or they would have if it were not the Warrant Agent hereunder, and, to the extent permitted by applicable law, it or they may engage or be interested in any financial or other transaction with the Company and may act on, or as depositary, trustee or agent for, any committee or body of holders of Warrant Debt Securities or other obligations of the Company as freely as if it were not the Warrant Agent hereunder.  Nothing in this Agreement shall be deemed to prevent the Warrant Agent from acting as trustee under any indenture to which the Company is a party, including, without limitation, as Trustee under the Indenture.
(f)No Liability for Interest.  Unless otherwise agreed with the Company, the Warrant Agent shall have no liability for interest on any monies at any time received by it pursuant to any of the provisions of this Agreement or of the Warrant Certificates.
(g)No Liability for Invalidity.  The Warrant Agent shall have no liability with respect to any invalidity of this Agreement or any of the Warrant Certificates (except as to the Warrant Agent’s countersignature thereon).
(h)No Responsibility for Representations.  The Warrant Agent shall not be responsible for any of the recitals or representations herein or in the Warrant Certificates (except as to the Warrant Agent’s countersignature thereon), all of which are made solely by the Company.
(i)No Implied Obligations.  The Warrant Agent shall be obligated to perform only such duties as are herein and in the Warrant Certificates specifically set forth and no implied duties or obligations shall be read into this Agreement or the Warrant Certificates against the Warrant Agent.  The Warrant Agent shall not be under any obligation to take any action hereunder which may tend to involve it in any expense or liability, the payment of which within a reasonable time is not, in its reasonable opinion, assured to it.  The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates authenticated by the Warrant Agent and delivered by it to the Company pursuant to this Agreement or for the application by the Company of the proceeds of the Warrant Certificates.  The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written demand from a holder of a Warrant Certificate with respect to such default, including, without limiting the generality of the foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings at law or otherwise or, except as provided in Section 6.2 hereof, to make any demand upon the Company.
5.3Resignation, Removal and Appointment of Successors.
(a)The Company agrees, for the benefit of the holders from time to time of the Warrant Certificates, that there shall at all times be a Warrant Agent hereunder until all the Warrants have been exercised or are no longer exercisable.
(b)The Warrant Agent may at any time resign as agent by giving written notice to the Company of such intention on its part, specifying the date on which its desired resignation shall become effective; provided that such date shall not be less than three months after the date on which such notice is given unless the Company otherwise agrees.  The Warrant Agent hereunder may be removed at any time by the filing with it of an instrument in writing signed by or on behalf of the Company and specifying such removal and the intended date when it shall become effective.  Such resignation or removal shall take effect upon the appointment by the Company, as hereinafter provided, of a successor Warrant Agent (which shall be a bank or trust company authorized under the laws of the jurisdiction of its organization to exercise corporate trust powers) and the acceptance of such appointment by such successor Warrant Agent.  The obligation of the Company under Section 5.2(a) shall continue to the extent set forth therein notwithstanding the resignation or removal of the Warrant Agent.
(c)In case at any time the Warrant Agent shall resign, or shall be removed, or shall become incapable of acting, or shall be adjudged a bankrupt or insolvent, or shall commence a voluntary case under the Federal bankruptcy laws, as now or hereafter constituted, or under any other applicable Federal or state bankruptcy, insolvency or similar law or shall consent to the appointment of or taking possession by a receiver, custodian, liquidator, assignee, trustee, sequestrator (or other 
6

similar official) of the Warrant Agent or its property or affairs, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due, or shall take corporate action in furtherance of any such action, or a decree or order for relief by a court having jurisdiction in the premises shall have been entered in respect of the Warrant Agent in an involuntary case under the Federal bankruptcy laws, as now or hereafter constituted, or any other applicable Federal or state bankruptcy, insolvency or similar law, or a decree or order by a court having jurisdiction in the premises shall have been entered for the appointment of a receiver, custodian, liquidator, assignee, trustee, sequestrator (or similar official) of the Warrant Agent or of its property or affairs, or any public officer shall take charge or control of the Warrant Agent or of its property or affairs for the purpose of rehabilitation, conservation, winding up or liquidation, a successor Warrant Agent, qualified as aforesaid, shall be appointed by the Company by an instrument in writing, filed with the successor Warrant Agent.  Upon the appointment as aforesaid of a successor Warrant Agent and acceptance by the successor Warrant Agent of such appointment, the Warrant Agent shall cease to be Warrant Agent hereunder.  
(d)Any successor Warrant Agent appointed hereunder shall execute, acknowledge and deliver to its predecessor and to the Company an instrument accepting such appointment hereunder, and thereupon such successor Warrant Agent, without any further act, deed or conveyance, shall become vested with all the authority, rights, powers, trusts, immunities, duties and obligations of such predecessor with like effect as if originally named as Warrant Agent hereunder, and such predecessor, upon payment of its charges and disbursements then unpaid, shall thereupon become obligated to transfer, deliver and pay over, and such successor Warrant Agent shall be entitled to receive, all monies, securities and other property on deposit with or held by such predecessor, as Warrant Agent hereunder.
(e)Any corporation into which the Warrant Agent hereunder may be merged or converted or any corporation with which the Warrant Agent may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Warrant Agent shall be a party, or any corporation to which the Warrant Agent shall sell or otherwise transfer all or substantially all the assets and business of the Warrant Agent, provided that it shall be qualified as aforesaid, shall be the successor Warrant Agent under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties hereto.
ARTICLE 6

MISCELLANEOUS
6.1Amendment.  This Agreement may be amended by the parties hereto, without the consent of the holder of any Warrant Certificate, for the purpose of curing any ambiguity, or of curing, correcting or supplementing any defective provision contained herein, or making any other provisions with respect to matters or questions arising under this Agreement as the Company and the Warrant Agent may deem necessary or desirable; provided that such action shall not materially adversely affect the interests of the holders of the Warrant Certificates.
6.2Notices and Demands to the Company and Warrant Agent.  If the Warrant Agent shall receive any notice or demand addressed to the Company by the holder of a Warrant Certificate pursuant to the provisions of the Warrant Certificates, the Warrant Agent shall promptly forward such notice or demand to the Company.
6.3Addresses.  Any communication from the Company to the Warrant Agent with respect to this Agreement shall be addressed to [●], Attention: [●] and any communication from the Warrant Agent to the Company with respect to this Agreement shall be addressed to Appian Corporation, 7950 Jones Branch Drive, McLean, Virginia 22102, Attention: Chief Financial Officer (or such other address as shall be specified in writing by the Warrant Agent or by the Company).
1.4Governing Law.  This Agreement and each Warrant Certificate issued hereunder shall be governed by and construed in accordance with the laws of the State of New York.
6.5Delivery of Prospectus.  The Company shall furnish to the Warrant Agent sufficient copies of a prospectus meeting the requirements of the Securities Act of 1933, as amended, relating to the Warrant Debt Securities deliverable upon exercise of the Warrants (the “Prospectus”), and the Warrant Agent agrees that upon the exercise of any Warrant, the Warrant Agent will deliver to the holder of the Warrant Certificate evidencing such Warrant, prior to or concurrently with the delivery of the Warrant Debt Securities issued upon such exercise, a Prospectus. The Warrant Agent shall not, by reason of any such delivery, assume any responsibility for the accuracy or adequacy of such Prospectus.
7

6.6Obtaining of Governmental Approvals.  The Company will from time to time take all action which may be necessary to obtain and keep effective any and all permits, consents and approvals of governmental agencies and authorities and securities act filings under United States Federal and state laws (including without limitation a registration statement in respect of the Warrants and Warrant Debt Securities under the Securities Act of 1933, as amended), which may be or become requisite in connection with the issuance, sale, transfer, and delivery of the Warrant Debt Securities issued upon exercise of the Warrants, the issuance, sale, transfer and delivery of the Warrants or upon the expiration of the period during which the Warrants are exercisable.
6.7Persons Having Rights Under the Agreement.  Nothing in this Agreement shall give to any person other than the Company, the Warrant Agent and the holders of the Warrant Certificates any right, remedy or claim under or by reason of this Agreement.
6.8Headings.  The descriptive headings of the several Articles and Sections of this Agreement are inserted for convenience only and shall not control or affect the meaning or construction of any of the provisions hereof.
6.9Counterparts.  This Agreement may be executed in any number of counterparts, each of which as so executed shall be deemed to be an original, but such counterparts shall together constitute but one and the same instrument.
6.10Inspection of Agreement.  A copy of this Agreement shall be available at all reasonable times at the principal corporate trust office of the Warrant Agent for inspection by the holder of any Warrant Certificate.  The Warrant Agent may require such holder to submit such holder’s Warrant Certificate for inspection by it.

8

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day and year first above written.
Appian Corporation, as Company
By:        
Name:        
Title:        
ATTEST:        
        
COUNTERSIGNED
[●], as Warrant Agent
By:        
Name:        
Title:        
ATTEST:        
        

[SIGNATURE PAGE TO APPIAN CORPORATION DEBT SECURITIES WARRANT AGREEMENT]

EXHIBIT A
FORM OF WARRANT CERTIFICATE
[FACE OF WARRANT CERTIFICATE]
												
			
			
		
	[Form of Legend if Warrants are not immediately exercisable.]
	[Prior to [●], Warrants evidenced by this Warrant Certificate cannot be exercised.]
	

EXERCISABLE ONLY IF COUNTERSIGNED BY THE WARRANT AGENT AS PROVIDED HEREIN
VOID AFTER [●] P.M., [City] time, ON [●].

    

APPIAN CORPORATION
WARRANT CERTIFICATE REPRESENTING
WARRANTS TO PURCHASE
[TITLE OF WARRANT DEBT SECURITIES]
No. [●]    [●] Warrants 
This certifies that [●] or registered assigns is the registered owner of the above indicated number of Warrants, each Warrant entitling such owner to purchase, at any time [after [●] p.m., [City] time, [on [●] and] on or before [●] p.m., [City] time, on [●], $[●] principal amount of [TITLE OF WARRANT DEBT SECURITIES] (the “Warrant Debt Securities”), of Appian Corporation (the “Company”) issued or to be issued under the Indenture (as hereinafter defined), on the following basis: during the period from [●], through and including [●], each Warrant shall entitle the Holder thereof, subject to the provisions of this Agreement, to purchase the principal amount of Warrant Debt Securities stated in the Warrant Certificate at the warrant price (the “Warrant Price”) of [●]% of the principal amount thereof [plus accrued amortization, if any, of the original issue discount of the Warrant Debt Securities] [plus accrued interest, if any, from the most recent date from which interest shall have been paid on the Warrant Debt Securities or, if no interest shall have been paid on the Warrant Debt Securities, from the date of their original issuance]. [The original issue discount ($[●] for each $1,000 principal amount of Warrant Debt Securities) will be amortized at a [●]% annual rate, computed on a[n] [semi-]annual basis [using a 360-day year consisting of twelve 30-day months]. The Holder may exercise the Warrants evidenced hereby by providing certain information set forth on the back hereof and by paying in full, in lawful money of the United States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available funds], the Warrant Price for each Warrant Debt Security with respect to which this Warrant is exercised to the Warrant Agent (as hereinafter defined) and by surrendering this Warrant Certificate, with the purchase form on the back hereof duly executed, at the corporate trust office of [name of Warrant Agent], or its successor as warrant agent (the “Warrant Agent”), which is, on the date hereof, at the address specified on the reverse hereof, and upon compliance with and subject to the conditions set forth herein and in the Warrant Agreement (as hereinafter defined). 
The term “Holder” as used herein shall mean the person in whose name at the time this Warrant Certificate shall be registered upon the books to be maintained by the Warrant Agent for that purpose pursuant to Section 4 of the Warrant Agreement.
The Warrants evidenced by this Warrant Certificate may be exercised to purchase Warrant Debt Securities in the principal amount of $1,000 or any integral multiple thereof in registered form.  Upon any exercise of fewer than all of the Warrants evidenced by this Warrant Certificate, there shall be issued to the Holder hereof a new Warrant Certificate evidencing Warrants for the aggregate principal amount of Warrant Debt Securities remaining unexercised.
This Warrant Certificate is issued under and in accordance with the Warrant Agreement dated as of [●] (the “Warrant Agreement”), between the Company and the Warrant Agent and is subject to the terms and provisions contained in the Warrant Agreement, to all of which terms and provisions the Holder of this Warrant Certificate consents by acceptance hereof.  Copies of the Warrant Agreement are on file at the above-mentioned office of the Warrant Agent.
The Warrant Debt Securities to be issued and delivered upon the exercise of Warrants evidenced by this Warrant Certificate will be issued under and in accordance with an Indenture, dated as of [●] (the “Indenture”), between the Company and [●], as trustee (such trustee, and any successors to such trustee, the “Trustee”)] and will be subject to the terms and provisions contained in the Warrant Debt Securities and in the Indenture. Copies of the Indenture, including the form of the Warrant Debt Securities, are on file at the corporate trust office of the Trustee. 
Transfer of this Warrant Certificate may be registered when this Warrant Certificate is surrendered at the corporate trust office of the Warrant Agent by the registered owner or such owner’s assigns, in the manner and subject to the limitations provided in the Warrant Agreement.
After countersignature by the Warrant Agent and prior to the expiration of this Warrant Certificate, this Warrant Certificate may be exchanged at the corporate trust office of the Warrant Agent for Warrant Certificates representing Warrants for the same aggregate principal amount of Warrant Debt Securities.

This Warrant Certificate shall not entitle the Holder hereof to any of the rights of a holder of the Warrant Debt Securities, including, without limitation, the right to receive payments of principal of (and premium, if any) or interest, if any, on the Warrant Debt Securities or to enforce any of the covenants of the Indenture.
Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.
This Warrant Certificate shall not be valid or obligatory for any purpose until countersigned by the Warrant Agent.
IN WITNESS WHEREOF, the Company has caused this Warrant to be executed in its name and on its behalf by the facsimile signatures of its duly authorized officers.
																								
	Dated:			
			
	Appian Corporation, as Company

		
	By:			
	Name:		
	Title:			
				
				
	ATTEST:		
			
	
	COUNTERSIGNED

[●], as Warrant Agent

		
	By:
		
	Name:		
	Title:		
			
			
	ATTEST:		
			

[REVERSE OF WARRANT CERTIFICATE]
(Instructions for Exercise of Warrant)
To exercise any Warrants evidenced hereby for Warrant Debt Securities (as hereinafter defined), the Holder must pay, in lawful money of the United States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available funds], the Warrant Price in full for Warrants exercised, to [●] [address of Warrant Agent], Attention: [●], which payment must specify the name of the Holder and the number of Warrants exercised by such Holder.  In addition, the Holder must complete the information required below and present this Warrant Certificate in person or by mail (certified or registered mail is recommended) to the Warrant Agent at the appropriate address set forth above.  This Warrant Certificate, completed and duly executed, must be received by the Warrant Agent within five business days of the payment.
(To be executed upon exercise of Warrants)
The undersigned hereby irrevocably elects to exercise ______ Warrants, evidenced by this Warrant Certificate, to purchase _______ $[●] principal amount of the [TITLE OF WARRANT DEBT SECURITIES] (the “Warrant Debt Securities”), of Appian Corporation and represents that the undersigned has tendered payment for such Warrant Debt Securities, in lawful money of the United States of America, [in cash or by certified check or official bank check in New York Clearing House funds] [by bank wire transfer in immediately available funds], to the order of Appian Corporation, c/o [insert name and address of Warrant Agent], in the amount of $_________ in accordance with the terms hereof.  The undersigned requests that said principal amount of Warrant Debt Securities be in fully registered form in the authorized denominations, registered in such names and delivered all as specified in accordance with the instructions set forth below.
If the number of Warrants exercised is less than all of the Warrants evidenced hereby, the undersigned requests that a new Warrant Certificate evidencing the Warrants for the aggregate principal amount of Warrant Debt Securities remaining unexercised be issued and delivered to the undersigned unless otherwise specified in the instructions below.
Dated:            Name:        
Please Print
Address:
    
(Insert Social Security or Other Identifying Number
of Holder)
Signature Guaranteed:        
Signature
(Signature must conform in all respects to name of holder as specified on the face of this Warrant Certificate and must bear a signature guarantee by a FINRA member firm).
This Warrant may be exercised at the following addresses: By hand at:
[●]
By mail at:
[Instructions as to form and delivery of Warrant Debt Securities and, if applicable, Warrant Certificates evidencing Warrants for the number of Warrant Debt Securities remaining unexercised—complete as appropriate.]

ASSIGNMENT
[Form of assignment to be executed if Warrant Holder desires to transfer Warrant]
FOR VALUE RECEIVED, ______________ hereby sells, assigns and transfers unto:
            
(Please print name and address including zip code)    Please print Social Security or other identifying number
the right represented by the within Warrant to purchase ________ aggregate principal amount of [Title of Warrant Debt Securities] of Appian Corporation to which the within Warrant relates and appoints ____________________ attorney to transfer such right on the books of the Warrant Agent with full power of substitution in the premises.
Dated:            Name:        
Signature
(Signature must conform in all respects to name of holder as specified on the face of the Warrant)
Signature GuaranteedExhibit 10.1

 

AMENDMENT NO. 4 TO

FOURTH AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT

 

This Amendment No. 4 to the Fourth Amended and
Restated Receivables Purchase Agreement (this “Amendment”) is dated as of August 16, 2021, among Avnet Receivables
Corporation, a Delaware corporation (“Seller”), Avnet, Inc., a New York corporation (“Avnet”),
as initial Servicer (the Servicer together with Seller, the “Seller Parties” and each a “Seller Party”),
each of the entities party hereto identified as a “Financial Institution” (together with any of their respective successors
and assigns hereunder, the “Financial Institutions”), each of the entities party hereto identified as a “Company”
(together with any of their respective successors and assigns hereunder, the “Companies”) and Wells Fargo Bank, N.A.,
as agent for the Purchasers or any successor agent hereunder (together with its successors and assigns hereunder, the “Agent”),
amending the Fourth Amended and Restated Receivables Purchase Agreement, dated as of August 16, 2018 (as amended by Amendment No. 1
thereto, dated February 28, 2020, Amendment No. 2 thereto, dated as of July 31, 2020, and Amendment No. 3 thereto,
dated as of July 30, 2021, the “Existing Agreement,” and as further amended, modified or supplemented from time
to time, including through the date hereof, the “Receivables Purchase Agreement”).

 

RECITALS

 

The parties hereto are the current parties to the
Existing Agreement and they now desire to amend the Existing Agreement, subject to the terms and conditions hereof, as more particularly
described herein.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the premises,
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.              Definitions
Used Herein. Capitalized terms used herein and not otherwise defined herein shall have the respective meanings set forth for such
terms in, or incorporated by reference into, the Existing Agreement.

 

Section 2.              Amendment.
Subject to the terms and conditions set forth herein, the Existing Agreement is hereby amended by deleting the stricken text (indicated
in the same manner as the following example: stricken text) and adding the inserted text
(indicated in the same manner as the following example: inserted text)
as set forth on the pages of the Receivables Purchase Agreement attached as Annex A hereto.

 

Section 3.              Conditions
to Effectiveness of Amendment. This Amendment shall become effective as of the date hereof, upon the satisfaction of the conditions
precedent that:

 

(a)            Amendment.
The Agent and each Seller Party shall have received, on or before the date hereof, executed counterparts of this Amendment, duly executed
by each of the parties hereto.

 

(b)            Purchaser
Fee Letter. The Agent, the Seller and each Purchaser shall have received executed counterparts of the Purchaser Fee Letter, duly executed
by each of the parties thereto, and all fees due from Seller thereunder on the date hereof shall have been paid.

 

     

     

    

 

Amendment
No. 4 to

Avnet
Receivables Purchase Agreement

 

(c)            Agent
Fee Letter. The Agent shall have received an executed counterpart of the Agent Fee Letter, duly executed by the Seller, and all fees
due from Seller thereunder on the date hereof shall have been paid.

 

(d)            Representations
and Warranties. As of the date hereof, both before and after giving effect to this Amendment, all of the representations and warranties
of each Seller Party contained in the Receivables Purchase Agreement and in each other Transaction Document shall be true and correct
in all material respects as though made on the date hereof (and by its execution hereof, each Seller Party shall be deemed to have represented
and warranted such).

 

(e)            No
Amortization Event or Potential Amortization Event. As of the date hereof, both before and after giving effect to this Amendment,
no Amortization Event or Potential Amortization Event shall have occurred and be continuing (and by its execution hereof, each Seller
Party shall be deemed to have represented and warranted such).

 

Section 4.               Miscellaneous.

 

(a)            Effect;
Ratification. This Amendment is effective solely for the purposes set forth herein and shall be limited precisely as written, and
shall not be deemed (i) to be a consent to, or an acknowledgment of, any amendment, waiver or modification of any other term or condition
of the Existing Agreement or of any other instrument or agreement referred to therein or (ii) to prejudice any right or remedy which
the Agent, any Company or Financial Institution (or any of their respective assigns) may now have or may have in the future under or in
connection with the Receivables Purchase Agreement or any other instrument or agreement referred to therein. Each reference in the Receivables
Purchase Agreement to “this Agreement,” “herein,” “hereof” and words of like import and each reference
in the other Transaction Documents to the Existing Agreement or to the “Receivables Purchase Agreement” shall mean the Existing
Agreement as amended hereby. This Amendment shall be construed in connection with and as part of the Receivables Purchase Agreement and
all terms, conditions, representations, warranties, covenants and agreements set forth in the Receivables Purchase Agreement and each
other instrument or agreement referred to therein, except as herein amended, are hereby ratified and confirmed and shall remain in full
force and effect.

 

(b)            Transaction
Documents. This Amendment is a Transaction Document executed pursuant to the Receivables Purchase Agreement and shall be construed,
administered and applied in accordance with the terms and provisions thereof.

 

(c)            Costs,
Fees and Expenses. Seller agrees to reimburse the Agent and each Purchaser and its assigns upon demand for all reasonable and documented
out-of-pocket costs, fees and expenses in connection with the preparation, execution and delivery of this Amendment (including the reasonable
fees and expenses of counsel to the Agent).

 

(d)            Counterparts.
This Amendment may be executed in any number of counterparts, each such counterpart constituting an original and all of which when taken
together shall constitute one and the same instrument.

 

(e)            Severability.
Any provision contained in this Amendment which is held to be inoperative, unenforceable or invalid in any jurisdiction shall, as to that
jurisdiction, be inoperative, unenforceable or invalid without affecting the remaining provisions of this Amendment in that jurisdiction
or the operation, enforceability or validity of such provision in any other jurisdiction.

 

    2

     

    

 

Amendment
No. 4 to

Avnet
Receivables Purchase Agreement

 

(f)            GOVERNING
LAW. THIS AMENDMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK EXCLUDING CHOICE-OF-LAW PRINCIPLES
OF THE LAW OF SUCH STATE THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF A JURISDICTION OTHER THAN SUCH STATE.

 

(g)            WAIVER
OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER
(WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AMENDMENT, ANY DOCUMENT
EXECUTED BY ORIGINATOR PURSUANT TO THIS AMENDMENT OR THE RELATIONSHIP ESTABLISHED HEREUNDER OR THEREUNDER.

 

    3

     

    

 

Amendment
No. 4 to

Avnet
Receivables Purchase Agreement

 

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

 

	 	AVNET RECEIVABLES CORPORATION,
	 	as Seller
	 	 
	 	 
	 	By:	            /s/
    Darrel Jackson
	 	Name: Darrel Jackson
	 	Title: Director & Secretary
	 	 
	 	 
	 	AVNET, INC., as Servicer
	 	 
	 	 
	 	By:	            /s/ Joseph L.
    Burke 
	 	Name: Joseph L. Burke
	 	Title: V.P. & Treasurer

 

    S-1

     

    

 

Amendment
No. 4 to

Avnet
Receivables Purchase Agreement

 

	 	WELLS FARGO BANK, N.A.,
	 	as a Company and as a Financial Institution
	 	 
	 	 
	 	By:	            /s/
    Jonathan Davis
	 	Name: Jonathan Davis
	 	Title: Vice President
	 	 
	 	 
	 	WELLS FARGO BANK, N.A.,
	 	as Agent
	 	 
	 	 
	 	By:	             /s/
    Jonathan Davis              
	 	Name: Jonathan Davis
	 	Title: Vice President

 

    S-2

     

    

 

Amendment
No. 4 to

Avnet
Receivables Purchase Agreement

 

	 	TRUIST BANK,
	 	as a Company and as a Financial Institution
	 	 
	 	 
	 	By:	                 /s/
    Emily Shields
	 	Name: /s/ Emily Shields
	 	Title: SVP

 

    S-3

     

    

 

Amendment
No. 4 to

Avnet
Receivables Purchase Agreement

 

	 	PNC BANK, NATIONAL ASSOCIATION, as
    a 

    Company and as a Financial Institution
	 	 
	 	 
	 	By:	              /s/
    Nina Austin                            
	 	Name: Nina Austin
	 	Title: Senior Vice President

 

    S-4

     

    

 

Amendment
No. 4 to

Avnet
Receivables Purchase Agreement

 

	 	LIBERTY STREET FUNDING LLC,
	 	as a Company
	 	  
	 	 
	 	By: 	             /s/
    Kevin J. Corrigan                            
	 	Name: Kevin J. Corrigan
	 	Title: Vice President
	 	 
	 	 
	 	THE BANK OF NOVA SCOTIA,
	 	as a Financial Institution
	 	 
	 	 
	 	By: 	             /s/
    Doug Noe                            
	 	Name: Doug Noe
	 	Title: Managing Director 

 

    S-5

     

    

 

Amendment
No. 4 to

Avnet
Receivables Purchase Agreement

 

	 	BANK OF AMERICA, N.A.,
	 	as a Company and as a Financial Institution
	 	 
	 	 
	 	By:  	            /s/
    Christopher Haynes              
	 	Name: Christopher Haynes
	 	Title: Senior Vice President

 

    S-6

     

    

 

Amendment
No. 4 to

Avnet
Receivables Purchase Agreement

 

Annex A

 

Amendments to Receivables Purchase Agreement

 

[see attached]

 

    

     

    

 

 

Conformed through Amendment No. 1, dated
as of February 28, 2020

Conformed through Amendment No. 2, dated
as of July 31, 2020

Conformed
through Amendment No. 3, dated as of July 30, 2021

Conformed
through Amendment No. 4, dated as of August 16, 2021

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

dated as of August 16, 2018

 

Among

 

AVNET RECEIVABLES CORPORATION, as Seller,

 

AVNET, INC., as Servicer,

 

THE COMPANIES,

 

THE FINANCIAL INSTITUTIONS,

 

and

 

WELLS FARGO BANK, N.A.,

as Agent

 

    

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

TABLE OF CONTENTS

 

	 	 	Page

 

	Article I PURCHASE ARRANGEMENTS	2
	Section 1.1	Purchase Facility	2
	Section 1.2	Increases	2
	Section 1.3	Decreases	2
	Section 1.4	Payment Requirements	3
	 	 	 
	Article II PAYMENTS AND COLLECTIONS	3
	Section 2.1	Payments	3
	Section 2.2	Collections Prior to Amortization	3
	Section 2.3	Collections Following Amortization	4
	Section 2.4	Application of Collections	4
	Section 2.5	Payment Rescission	5
	Section 2.6	Maximum Purchaser Interests	5
	Section 2.7	Repurchase Option	5
	Section 2.8	Release of Lock-Box Arrangements	5
	Section 2.9	Compliance with FATCA	5
	 	 	 
	Article III COMPANY FUNDING	6
	Section 3.1	CP Costs	6
	Section 3.2	CP Costs Payments	6
	Section 3.3	Calculation of CP Costs	6
	Section 3.4	Suspension of the LIBO
    RateBenchmark	6
	Section 3.5	Limitations on Liability with respect to LIBOR	6
	Section 3.53.6	Effect of Benchmark Transition Event	67
	 	 	 
	Article IV FINANCIAL INSTITUTION FUNDING	78
	Section 4.1	Financial Institution Funding	78
	Section 4.2	Yield Payments	78
	Section 4.3	Selection and Continuation of Tranche Periods	89
	Section 4.4	Suspension of the LIBO
    Rate Benchmark	89
	Section 4.5	Effect of Benchmark Transition Event	89
	Section 4.6	Extension of Liquidity Termination Date	810
	 	 	 
	Article V REPRESENTATIONS AND WARRANTIES	911
	Section 5.1	Representations and Warranties of the Seller Parties	911
	Section 5.2	Financial Institution Representations and Warranties	1315
	 	 	 
	Article VI CONDITIONS OF PURCHASES	1415
	Section 6.1	Conditions Precedent to Amendment and Restatement	1415
	Section 6.2	Conditions Precedent to All Purchases and Reinvestments	1415
	 	 	 
	Article VII COVENANTS	1516
	Section 7.1	Affirmative Covenants of the Seller Parties	1516
	Section 7.2	Negative Covenants of the Seller Parties	2223
	 	 	 
	Article VIII ADMINISTRATION AND COLLECTION	2325
	Section 8.1	Designation of Servicer	2325
	Section 8.2	Duties of Servicer	2425
	Section 8.3	Collection Notices	2526
	Section 8.4	Responsibilities of Seller	2527
	Section 8.5	Reports	2527
	Section 8.6	Servicing Fees	2527
	Section 8.7	Limited Recourse to Servicer	2627
	Section 8.8	Risk Retention Compliance	2627

 

    I

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

	Article IX AMORTIZATION EVENTS	2627
	Section 9.1	Amortization Events	2627
	Section 9.2	Remedies	2729
	 	 	 
	Article X INDEMNIFICATION	2829
	Section 10.1	Indemnities by The Seller Parties	2829
	Section 10.2	Increased Cost and Reduced Return	3132
	Section 10.3	Other Costs and Expenses	3233
	 	 	 
	Article XI THE AGENT		3234
	Section 11.1	Authorization and Action	3234
	Section 11.2	Delegation of Duties	3234
	Section 11.3	Exculpatory Provisions	3334
	Section 11.4	Reliance by Agent	3334
	Section 11.5	Non-Reliance on Agent and Other Purchasers	3335
	Section 11.6	Reimbursement and Indemnification	3335
	Section 11.7	Agent in its Individual Capacity	3335
	Section 11.8	Successor Agent	3435
	Section 11.9	Erroneous Payments	35
	 	 	 
	Article XII ASSIGNMENTS; PARTICIPATIONS; DEFAULTING PURCHASERS	3437
	Section 12.1	Assignments	3437
	Section 12.2	Participations	3538
	Section 12.3	Security Interests	3538
	Section 12.4	Defaulting Purchasers	3538
	 	 	 
	Article XIII MISCELLANEOUS	3639
	Section 13.1	Waivers and Amendments	3639
	Section 13.2	Notices	3740
	Section 13.3	Ratable Payments	3841
	Section 13.4	Protection of Interests of the Purchasers	3841
	Section 13.5	Confidentiality	3842
	Section 13.6	Bankruptcy Petition	3942
	Section 13.7	Limitation of Liability	3942
	Section 13.8	CHOICE OF LAW	4043
	Section 13.9	CONSENT TO JURISDICTION	4043
	Section 13.10	WAIVER OF JURY TRIAL	4043
	Section 13.11	Integration; Binding Effect; Survival of Terms	4043
	Section 13.12	Counterparts; Severability; Section References	4144
	Section 13.13	Wells Fargo Roles	4144
	Section 13.14	Characterization	4144
	Section 13.15	Confirmation and Ratification of Terms	4245
	Section 13.16	PATRIOT Act and Beneficial Ownership Regulation	4245
	Section 13.17	Acknowledgment Regarding any Unsupported QFCs	4245

 

    ii

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

Article III

COMPANY FUNDING

 

Section 3.1            CP
Costs. Seller shall pay CP Costs with respect to the Capital associated with each Purchaser Interest of the Companies for each day
that any Capital in respect of any such Purchaser Interest is outstanding.

 

Section 3.2            CP
Costs Payments. On each Settlement Date, Seller shall pay to each Company an aggregate amount equal to all accrued and unpaid CP Costs
in respect of the Capital associated with all Purchaser Interests of such Company for the immediately preceding Accrual Period in accordance
with Article II. On or before the third Business Day immediately preceding the Settlement Date for each Purchaser Interest
of the Companies, the Agent shall calculate the aggregate amount of accrued and unpaid CP Costs due and payable on the applicable Settlement
Date and shall notify Seller of the aggregate amount of accrued and unpaid CP Costs due and payable to each Company on the applicable
Settlement Date.

 

Section 3.3            Calculation
of CP Costs. Subject to Section 3.4 and Section 3.53.6,
the CP Costs for any Purchaser Interest held by the Companies shall be the LIBO RateBenchmark,
and the Agent shall calculate the LIBO RateBenchmark
applicable to each day in the applicable Accrual Period.

 

Section 3.4            Suspension
of the LIBO RateBenchmark.
Subject to Section 3.53.6,
if any Company notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of the Companies in
such Company’s Purchaser Group at the LIBO RateBenchmark
would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the
force of law, or that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at the LIBO
RateBenchmark are not available or (ii) the
LIBO RateBenchmark
does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at the LIBO RateBenchmark,
then the Agent shall suspend the availability of the LIBO RateBenchmark
for the Companies in such Company’s Purchaser Group and CP Costs for any Purchaser Interest funded by the Companies in such Company’s
Purchaser Group shall be the Alternative Base Rate.

 

Section 3.5            Limitations
on Liability with respect to LIBOR. The Agent does not warrant or accept any responsibility for, and shall not have any liability with
respect to, (i) the administration of, submission of, calculation of or any other matter related to the London interbank offered
rate or other rates in the definition of “LMIR” or with respect to any alternative, comparable or successor rate thereto,
or replacement rate thereof (including any then-current Benchmark or any Benchmark Replacement), including whether the composition or
characteristics of any such alternative, successor or replacement reference rate (including any Benchmark Replacement), as it may or may
not be adjusted pursuant to Section 3.6 or Section 4.5, will be similar to, or produce the same value or economic equivalence
of, LMIR or any other Benchmark, or have the same volume or liquidity as did the London interbank offered rate or any other Benchmark
prior to its discontinuance or unavailability or (ii) the effect, implementation or composition of any Benchmark Replacement Conforming
Changes.

 

    Page 6

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

Section 3.53.6            Effect
of Benchmark Transition Event.

 

(a)        Benchmark
Replacement.

 

(ai)            Benchmark
Replacement. Notwithstanding anything to the contrary in this Agreementherein
or in any other Transaction Document, upon the occurrence ofif
a Benchmark Transition Event or an Early Opt-in Election, as applicable, the Agent and the Seller may
amend this Agreement to replace LIBOR withand its related Benchmark
Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then (x) if
a Benchmark Replacement. Any such amendment with respect to a Benchmark Transition Event will become
effective at 5:00 p.m. is determined in accordance with
clause (i)(a) or (i)(b) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark
Replacement will replace such Benchmark for all purposes of this Agreement and any other Transaction 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 Transaction Document and (y) if a Benchmark Replacement is determined in accordance with clause (i)(c) of the definition
of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for
all purposes under this Agreement and any other Transaction Document in respect of any Benchmark setting at or after 5:00 p.m. (New
York City time) on the fifth (5th) Business Day after the Agent has posted such proposeddate
notice of such Benchmark Replacement is provided to the Purchasers without any amendment to all
Purchasers and the Seller, or further action or consent of
any other party to, this Agreement or any other Transaction Document so long as the Agent has not received, by such time, written
notice of objection to such amendmentBenchmark
Replacement from Purchasers comprising the Required Purchasers. Any such amendment with respect
to an Early Opt-in Election will become effective on the date that Purchasers comprising the Required Purchasers have delivered to the
Agent written notice that such Required Purchasers accept such amendment. No replacement of LIBOR with a Benchmark Replacement pursuant
to this Section 3.5 will occur prior to the applicable Benchmark Transition Start Date.

 

(ii)            Notwithstanding
anything to the contrary herein or in any other Transaction Document, if a Term SOFR Transition Event and its related Benchmark Replacement
Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then the applicable Benchmark
Replacement will replace the then-current Benchmark for all purposes of this Agreement or and any other Transaction 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 Transaction Document; provided, that, this clause (ii) shall not be effective unless the Agent has
delivered to the Purchasers and the Seller a Term SOFR Notice. For the avoidance of doubt, the Agent shall not be required to deliver
a Term SOFR Notice after a Term SOFR Transition Event and may elect or not elect to do so in its sole discretion.

 

(b)        Benchmark
Replacement Conforming Changes. In connection with the implementation of a Benchmark Replacement, the 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 Transaction
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 Transaction Document.

 

    Page 7

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

(c)        Notices;
Standards for Decisions and Determinations. The Agent will promptly notify the Seller and the Purchasers of (i) any occurrence
of a Benchmark Transition Event, a Term SOFR Transition Event or
an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date and Benchmark Transition
Start Date, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement
Conforming Changes and,
(iv) the removal or reinstatement of any tenor of a Benchmark pursuant
to Section 3.6(d) below and (v) the commencement or conclusion of any Benchmark Unavailability Period. Any determination,
decision or election that may be made by the Agent or, if applicable, any Purchaser
(or group of Purchasers) pursuant to this Section 3.53.6(c),
including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance
or date and any decision to take or refrain from taking any action, will be conclusive and binding absent manifest error and may be made
in its or their sole discretion and without consent from any other party heretoto
this Agreement or any other Transaction Document, except, in each case, as expressly required pursuant to this Section 3.53.6(c).

 

(d)        Unavailability
of Tenor or Benchmark. Notwithstanding anything to the contrary herein or in any other Transaction Document, at any time (including
in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including Term
SOFR or LMIR) and either (1) any tenor for such Benchmark is not displayed on a screen or other information service that publishes
such rate from time to time as selected by the Agent in its reasonable discretion or (2) the regulatory supervisor for the administrator
of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is or will
be no longer representative, then the Agent may modify the definition of “Accrual Period” for any Benchmark settings at or
after such time to remove such unavailable or non-representative tenor and (ii) if a tenor that was removed pursuant to clause (i) above
either (1) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (2) is
not, or is no longer, subject to an announcement that it is or will no longer be representative for a Benchmark (including a Benchmark
Replacement), then the Agent may (or at the request of the Seller, shall) modify the definition of “Accrual Period” for all
Benchmark settings at or after such time to reinstate such previously removed tenor.

 

(de)        Benchmark
Unavailability Period. Upon the Seller’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Seller
may revoke any request for an Incremental Purchase to be madethe
purchase of, conversion to or continuation of a Purchaser Interest for which the Discount Rate would have been calculated by reference
to the then-current Benchmark during any Benchmark Unavailability Period for
such Benchmark, and,  failing thatsuch
revocation, the Seller will be deemed to have converted any such request tointo
a request for the funding of anythat
the Discount Rate applicable to the purchase of such Purchaser Interests atInterest
or the conversion of such Purchaser Interest be calculated by reference to the Alternative Base Rate. During any Benchmark
Unavailability Period or at any time that a tenor for the then-current Benchmark
is not an Available Tenor, the component of the DiscountAlternative
Base Rate that is based upon LIBORthe
then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the DiscountAlternative
Base Rate.

 

Article IV     

FINANCIAL INSTITUTION FUNDING

 

Section 4.1             Financial
Institution Funding. The Capital associated with the Purchaser Interests of the Financial Institutions shall accrue Yield for each
day during its Tranche Period in accordance with the terms and conditions hereof. Subject to Section 4.4 and Section 4.5,
the Discount Rate for the Capital associated with any Purchaser Interests held by the Financial Institutions shall be the LIBO
RateBenchmark, and the Agent shall calculate the
LIBO RateBenchmark
applicable to each day in the applicable Tranche Period. If any Purchaser Interest of any Company is assigned or transferred to, or funded
by, any Funding Source of such Company pursuant to any Funding Agreement or to or by any other Person, each such Purchaser Interest so
assigned, transferred or funded shall each be deemed to have a new Tranche Period commencing on the date of any such transfer or funding
and the Capital associated therewith shall accrue Yield for each day during the Tranche Period at the Discount Rate for the corresponding
Accrual Period (or portion thereof) in accordance with the terms and conditions hereof as if each such Purchaser Interest was held by
a Financial Institution, and with respect to each such Purchaser Interest, the assignee or transferee thereof or lender with respect thereto
shall be deemed to be a Financial Institution in the transferring Company’s Purchaser Group solely for the purposes of Sections
4.1, 4.2, 4.3 and 4.4. Notwithstanding the foregoing, any Financial Institution that is also a Company shall
continue to receive CP Costs in accordance with Article III rather than Yield in accordance with this Article IV.

 

    Page 8

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

Section 4.2             Yield
Payments. On the Settlement Date for each Purchaser Interest of each Financial Institution, Seller shall pay to each Financial Institution
an aggregate amount equal to all accrued and unpaid Yield for the entire Tranche Period of each Purchaser Interest funded by such Financial
Institution. On or before the third Business Day immediately preceding the Settlement Date for each Purchaser Interest of the Financial
Institutions, the Agent shall calculate the aggregate amount of accrued and unpaid Yield due and payable on the applicable Settlement
Date and shall notify Seller of the aggregate amount of accrued and unpaid Yield due and payable to each Financial Institution on the
applicable Settlement Date.

 

Section 4.3             Selection
and Continuation of Tranche Periods.

 

(a)      Prior
to the Amortization Date, each Tranche Period will commence on the first day of each Accrual Period, or in the event a Financial Institution
acquires any Purchaser Interest, on the date of such acquisition. On and after the Amortization Date, the applicable Financial Institution
shall select the Business Day on which any Tranche Period will commence.

 

(b)     Seller
or the applicable Financial Institution, upon notice to and consent by the other received at least three Business Days prior to the end
of a Tranche Period (the “Terminating Tranche”) for any Purchaser Interest, may, effective on the last day of the Terminating
Tranche: (i) divide any such Purchaser Interest into multiple Purchaser Interests by subdividing the associated Capital for such
Purchaser Interest into smaller amounts of Capital, (ii) combine any such Purchaser Interest with one or more other Purchaser Interests
that have a Terminating Tranche ending on the same day as such Terminating Tranche by combining the associated Capital for such Purchaser
Interests or (iii) combine any such Purchaser Interest with a new Purchaser Interest to be purchased on the day such Terminating
Tranche ends by combining the associated Capital for such Purchaser Interests; provided that in no event may a Purchaser Interest
of any Purchaser be combined with a Purchaser Interest of any other Purchaser.

 

Section 4.4             Suspension
of the LIBO RateBenchmark.
Subject to Section 4.5, if any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share
of the Purchaser Interests of the Financial Institutions in such Financial Institution’s Purchaser Group at the LIBO
RateBenchmark would violate any applicable law,
rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, or that (i) deposits
of a type and maturity appropriate to match fund its Purchaser Interests at the LIBO RateBenchmark
are not available or (ii) the LIBO RateBenchmark
does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at the LIBO RateBenchmark,
then the Agent shall suspend the availability of the LIBO RateBenchmark
for the Financial Institutions in such Financial Institution’s Purchaser Group and the Discount Rate for any Purchaser Interest
funded by the Financial Institutions in such Financial Institution’s Purchaser Group shall be the Alternative Base Rate.

 

Section 4.5         Effect
of Benchmark Transition Event. The terms of Section 3.5 and Section 3.6 are incorporated by reference into this Article IV mutatis mutandis, substituting
references to “Section 3.5” with
 “Section 4.5,” and shall be applicable to each Financial
Institution.

 

    Page-9

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

Defaulting Purchaser, the Required Purchasers may, to the extent permitted by applicable law, by notice in writing to
Seller and such Person, remove such Person as Agent and, in consultation with Seller, appoint a successor Agent. If for any reason
no successor Agent is appointed by the Required Purchasers within 30 days (or such earlier day as shall be agreed by the Required
Purchasers), then effective upon the termination of such period, the Purchasers shall perform all of the duties of the Agent
hereunder and under the other Transaction Documents, and Seller and the Servicer (as applicable) shall make all payments in respect
of the Aggregate Unpaids directly to the applicable Purchasers and for all purposes shall deal directly with the Purchasers.

 

Section 11.9       Erroneous
Payments.

 

(a)       Each
Purchaser and each other party hereto hereby severally agrees that if (i) the Agent notifies (which such notice shall be conclusive
absent manifest error) a Purchaser (or an Affiliate of such Purchaser) or any other Person that has received funds from the Agent or any
of its Affiliates on behalf of any Purchaser (each such recipient, a “Payment Recipient”) that the Agent has determined in
its sole discretion that any funds received by such Payment Recipient were erroneously transmitted to, or otherwise erroneously or mistakenly
received by, such Payment Recipient (whether or not known to such Payment Recipient) or (ii) any Payment Recipient receives
any payment from the 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 Agent (or any of its Affiliates) with respect to such payment, prepayment
or repayment, as applicable, (y) that was not preceded or accompanied by a notice of payment, prepayment or repayment sent by the
Agent (or any of its Affiliates) with respect to such payment, prepayment or repayment, as applicable or (z) that such Payment Recipient
otherwise becomes aware was transmitted or received in error or by mistake (in whole or in part) then, in each case, an error in payment
shall be presumed to have been made (any such amounts specified in clauses (i) or (ii) of this Section 11.9(a), whether
received as a payment, prepayment or repayment of principal, interest, fees, distribution or otherwise; individually and collectively,
an “Erroneous Payment”), then, in each case, such Payment Recipient is deemed to have knowledge of such error at the time
of its receipt of such Erroneous Payment; provided that nothing in this Section shall require the Agent to provide any of the notices
specified in clauses (i) or (ii) above. Each Payment Recipient agrees that it shall not assert any right or claim to any Erroneous
Payment, and hereby waives any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim
by the Agent for the return of any Erroneous Payments, including without limitation waiver of any defense based on “discharge for
value” or any similar doctrine.

 

(b)       Without
limiting the immediately preceding clause (a), each Payment Recipient agrees that, in the case of clause (a)(ii) above, it shall
promptly notify the Agent in writing of any such occurrence.

 

(c)        In
the case of either clause (a)(i) or (a)(ii) above, such Erroneous Payment shall at all times remain the property of the Agent
and shall be segregated by the Payment Recipient and held in trust for the benefit of the Agent, and upon demand from the Agent such Payment
Recipient shall (or, shall cause any Person who received any portion of an Erroneous Payment on its behalf to) promptly, but in all events
no later than one Business Day thereafter, return to the Agent the amount of any such Erroneous Payment (or portion thereof) as to which
such a demand was made in immediately available funds and in the currency so received, together with interest thereon in respect of each
day from and including the date such Erroneous Payment (or portion thereof) was received by such Payment Recipient to the date such amount
is repaid to the Agent at the Federal Funds Effective Rate.

 

(d)        In
the event that an Erroneous Payment (or portion thereof) is not recovered by the Agent for any reason, after demand therefor by the Agent
in accordance with immediately preceding clause (c), from any Purchaser that is a Payment Recipient or an Affiliate of a Payment Recipient
(such unrecovered amount as to such Purchaser, an “Erroneous Payment Return Deficiency”), then at the sole discretion of the
Agent and upon the Agent’s written notice to such Purchaser (i) such Purchaser shall be deemed to have made a cashless assignment
of the full face amount of the portion of the Purchaser Interest corresponding to the Capital (but not its Commitment) of the relevant
Purchaser Group with respect to which such Erroneous Payment was made (the “Erroneous Payment Impacted Purchaser Group”) to
the Agent or, at the option of the Agent, the Agent’s applicable lending affiliate in an amount that is equal to the Erroneous Payment
Return Deficiency (or such lesser amount as the Agent may specify) (such assignment of the portion of the Purchaser Interest corresponding
to the Capital (but not Commitment) of the Erroneous Payment Impacted Purchaser Group, the “Erroneous Payment Deficiency Assignment”)
plus any accrued and unpaid CP Costs and Yield on such assigned amount, without further consent or approval of any party hereto and without
any payment by the Agent or its applicable lending affiliate as the assignee of such Erroneous Payment Deficiency Assignment. Without
limitation of its rights hereunder, the Agent may cancel any Erroneous Payment Deficiency Assignment at any time by written notice to
the applicable assigning Purchaser and upon such revocation of the portion of the Purchaser Interest corresponding to the Capital assigned
pursuant to such Erroneous Payment Deficiency Assignment shall be reassigned to such Purchaser without any requirement for payment or
other consideration. The parties hereto acknowledge and agree that (1) any assignment contemplated in this clause (d) shall
be made without any requirement for any payment or other consideration paid by the applicable assignee or received by the assignor, (2) the
provisions of this clause (d) shall govern in the event of any conflict with the terms and conditions of Article XII and (3) the
Agent may reflect such assignments in its records without further consent or action by any other Person.

 

    Page-33

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

(e)        Each
party hereto hereby agrees that (x) in the event an Erroneous Payment (or portion thereof) is not recovered from any Payment Recipient
that has received such Erroneous Payment (or portion thereof) for any reason, the Agent (1) shall be subrogated to all the rights
of such Payment Recipient with respect to such amount and (2) is authorized to set off, net and apply any and all amounts at any
time owing to such Payment Recipient under any Transaction Document, or otherwise payable or distributable by the Agent to such Payment
Recipient from any source, against any amount due to the Agent under this Section 11.9 or under the indemnification provisions of
this Agreement, (y) the receipt of an Erroneous Payment by a Payment Recipient shall not for the purpose of this Agreement be treated
as a payment, prepayment, repayment, discharge or other satisfaction of any Aggregate Unpaids owed by the Seller, 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 Agent from the Seller for the purpose of making for a payment on the Aggregate Unpaids and (z) to the extent that an Erroneous
Payment was in any way or at any time credited as payment or satisfaction of any of the Aggregate Unpaids, the Aggregate Unpaids or any
part thereof that were so credited, and all rights of the Payment Recipient, as the case may be, shall be reinstated and continue in full
force and effect as if such payment or satisfaction had never been received.

 

(f)         Each
party’s obligations under this Section 11.9 shall survive the resignation or replacement of the Agent or any transfer of right
or obligations by, or the replacement of, a Purchaser, the termination of the Commitments or the repayment, satisfaction or discharge
of all Aggregate Unpaids (or any portion thereof) under any Transaction Document.

 

(g)        Nothing
in this Section 11.9 will constitute a waiver or release of any claim of any party hereunder arising from any Payment Recipient’s
receipt of an Erroneous Payment.

 

Article XII

ASSIGNMENTS; PARTICIPATIONS; DEFAULTING PURCHASERS

 

Section 12.1       Assignments.
(a) Seller, the Servicer, the Agent and each Purchaser hereby agree and consent to the complete or partial assignment by any Company
of all or any portion of its rights under, interest in, title to and obligations under this Agreement to any Funding Source pursuant to
any Funding Agreement or to any other Person, and upon such assignment, such Company shall be released from its obligations so assigned.
Further, Seller, the Servicer, the Agent and each Purchaser hereby agree that any assignee of any Company of this Agreement or of all
or any of the Purchaser Interests of any Company shall have all of the rights and benefits under this Agreement as if the term “Company”
explicitly referred to and included such party (provided that (i) the Purchaser Interests of any such assignee that is a Company
shall accrue CP Costs pursuant to Section 3.1, and (ii) the Purchaser Interests of any other such assignee shall accrue
Yield pursuant to Section 4.1), and no such assignment shall in any way impair the rights and benefits of any Company hereunder.
Neither Seller nor the Servicer shall have the right to assign its rights or obligations under this Agreement.

 

(b)       Any
Financial Institution may at any time and from time to time assign to one or more Persons (“Purchasing Financial Institutions”)
all or any part of its rights and obligations under this Agreement pursuant to an assignment agreement, substantially in the form set
forth in Exhibit VII hereto (the “Assignment Agreement”) executed by such Purchasing Financial Institution
and such selling Financial Institution. Except as the exercise of any other power, right or remedy.
The rights and remedies herein provided shall be cumulative and nonexclusive of any rights or remedies provided by law. Any waiver of
this Agreement shall be effective only in the specific instance and for the specific purpose for which given.

 

    Page-34

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

(b)        No
provision of this Agreement may be amended, supplemented, modified or waived except in writing in accordance with the provisions of this
Section 13.1(b) or in accordance with Sections 3.53.6
or 4.5. Each Company, Seller and the Agent, at the direction of the Required Purchasers, may enter into written modifications or
waivers of any provisions of this Agreement, provided, however, that no such modification or waiver shall:

 

(i)             without
the consent of each affected Purchaser, (A) extend the Liquidity Termination Date or the date of any payment or deposit of Collections
by Seller or the Servicer, (B) reduce the rate or extend the time of payment of Yield or any CP Costs (or any component of Yield
or CP Costs), (C) reduce any fee payable to the Agent for the benefit of the Purchasers, (D) except pursuant to Article XII
hereof, change the amount of the Capital of any Purchaser, any Financial Institution’s Pro Rata Share, any Company’s Pro Rata
Share, any Financial Institution’s Commitment or any Company’s Company Purchase Limit (other than, to the extent applicable,
pursuant to Section 4.6 or the terms of any Funding Agreement), (E) amend, modify or waive any provision of the definition
of Required Purchasers or this Section 13.1(b) or Section 2.6, Section 4.6 or Section 13.6,
(F) release all or substantially all of the property with respect to which a security or ownership interest therein has been granted
hereunder to the Agent, the Purchasers or the Financial Institutions, (G) consent to or permit the assignment or transfer by Seller
of any of its rights and obligations under this Agreement, or (H) amend or modify any defined term (or any defined term used directly
or indirectly in such defined term) used in clauses (A) through (G) above in a manner that would circumvent the
intention of the restrictions set forth in such clauses;

 

(ii)            without
the written consent of the then Agent, amend, modify or waive any provision of this Agreement if the effect thereof is to affect the rights
or duties of such Agent; or

 

(iii)           without
the written consent of the Agent and each Purchaser (A) amend, modify or waive any Potential Amortization Event or Amortization Event;
(B) change the definition of “Aggregate Reserves,” “Base Dilution Component,” “Base
Dilution Factor,” “Concentration Component,” “Concentration Factor,” “Concentration
Limit,” “Default Ratio,” “Delinquency Ratio Trigger,” “Dilution Horizon Factor,”
 “Dilution Reserve,” “Dilution Ratio,” “Dilution Percentage,” “Dilution
Ratio Trigger,” “Eligible Receivable,” “Loss Horizon Factor,” “Loss Reserve,”
 “Loss Percentage,” “Loss Ratio Trigger,” “Net Receivables Balance,” “Required
Reserve Floor,” “Required Reserves,” “Servicing and Yield Reserve,” “Stress Factor”
and “Weekly Reporting Condition”; (C) amend, modify or waive any provision in Article IX; or (D) amend
or modify any defined term (or any defined term used directly or indirectly in such defined term) used in clauses (A) through
(C) above in a manner that would circumvent the intention of the restrictions set forth in such clauses.

 

Notwithstanding the foregoing, (i) without
the consent of the Financial Institutions, but with the consent of Seller, the Agent may amend this Agreement solely to add additional
Persons as Financial Institutions hereunder and (ii) the Agent, the Required Purchasers and each Company may enter into amendments
to modify any of the terms or provisions of Article XI, Section 13.13 or any other provision of this Agreement
without the consent of Seller, provided that such amendment has no negative impact upon Seller and the Agent promptly notifies
Seller of such amendment. Any modification or waiver made in accordance with this Section 13.1 shall apply to each of the
Purchasers equally and shall be binding upon Seller, the Purchasers and the Agent.

 

Section 13.2       Notices.
Except as provided in this Section 13.2, all communications and notices provided for hereunder shall be in writing (including
bank wire, telecopy or other electronic transmission or similar writing) and shall be given to the other parties hereto at their respective
addresses or telecopy numbers or using any other method of electronic transmission set forth on the signature pages hereof or at
such other address or

 

    Page-37 

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

EXHIBIT I

 

DEFINITIONS

 

As used in this Agreement,
the following terms shall have the following meanings (such meanings to be equally applicable to both the singular and plural forms of
the terms defined):

 

“61-to-90–Day
Receivable” means a Receivable which by its terms is due and payable between 61 and 90 calendar days of the original billing
date therefor.

 

“91-to-120–Day
Receivable” means a Receivable which by its terms is due and payable between 91 and 120 calendar days of the original billing
date therefor.

 

“Accrual Period”
means each calendar month, provided that the initial Accrual Period hereunder with respect to each Company means the period from
(and including) the date of the initial purchase by such Company hereunder to (and including) the last day of the calendar month thereafter.

 

“Adverse Claim”
means a lien, security interest, charge or encumbrance, or other right or claim in, of or on any Person’s assets or properties in
favor of any other Person.

 

“Affected Financial
Institution” has the meaning specified in Section 12.1(c).

 

“Affiliate”
means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under direct or indirect common
control with, such Person or any Subsidiary of such Person. A Person shall be deemed to control another Person if the controlling Person
owns 20% or more of any class of voting securities of the controlled Person or possesses, directly or indirectly, the power to direct
or cause the direction of the management or policies of the controlled Person, whether through ownership of stock, by contract or otherwise.

 

“Agent”
has the meaning set forth in the preamble to this Agreement.

 

“Agent Account”
means the deposit account from time to time designated by the Agent to the Purchasers as the “Agent Account.”

 

“Aggregate Capital”
means, on any date of determination, the aggregate amount of Capital of all Purchaser Interests outstanding on such date.

 

“Aggregate Reduction”
has the meaning specified in Section 1.3.

 

“Aggregate Reserves”
means, on any date of determination, the sum of the Loss Reserve, the Dilution Reserve and the Servicing and Yield Reserve.

 

“Aggregate Unpaids”
means, at any time, an amount equal to the sum of all Aggregate Capital and all other unpaid Obligations (whether due or accrued) at such
time.

 

“Agreement”
means this Fourth Amended and Restated Receivables Purchase Agreement, dated as of August 16, 2018, as amended by Amendment No. 1
thereto, dated as of February 28, 2020, and Amendment No. 2 thereto, dated
as of July 31, 2020, Amendment No. 3 thereto, dated as of July 30,
2021, and Amendment No. 4 thereto, dated as of August 16, 2021, and as the same may be further amended, restated,
supplemented or otherwise modified and in effect from time to time.

 

“Alternative Base
Rate” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day, (b) the
Federal Funds Effective Rate in effect on such day plus 1⁄2 of 1% and (c) the LIBO RateBenchmark
on such day (or if such day is not a Business Day, the immediately preceding Business Day). Any change in the Alternative Base Rate due
to a change in the Prime Rate, the Federal Funds Effective Rate or the LIBO RateBenchmark
shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the LIBO
RateBenchmark, respectively.

 

    Exh I-1

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

“Amendment Date”
has the meaning set forth in the preamble to this Agreement.

 

“Amortization Date”
means the earliest to occur of (i) the Business Day immediately prior to the occurrence of an Amortization Event set forth in Section 9.1(d)(ii),
(ii) the Business Day specified in a written notice from the Agent following the occurrence of any other Amortization Event, (iii) the
date which is 30 Business Days after the Agent’s receipt of written notice from Seller that it wishes to terminate the facility
evidenced by this Agreement, (iv) the Facility Termination Date and (v) the Business Day specified in a written notice from
the Agent following the failure to obtain the Required Rating within 60 days following delivery of a Ratings Request to Seller and the
Servicer.

 

“Amortization Event”
has the meaning specified in Article IX.

 

“Anti-Corruption
Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Seller Parties or their respective Subsidiaries
from time to time concerning or relating to bribery or corruption.

 

“Applicable Delinquency
Ratio Threshold” means 8.50%.

 

“Applicable Dilution
Ratio Threshold” means 5.00%.

 

“Applicable Loss
Ratio Threshold” means 7.00%.

 

“Assignment Agreement”
has the meaning set forth in Section 12.1(b).

 

“Authorized Officer”
means, with respect to any Person, its president, vice president, corporate controller, treasurer or chief financial officer.

 

“Available
Tenor” means, as of any date of determination and with respect to the then-current Benchmark, as applicable, (x) if the then-current
Benchmark is a term rate, any tenor for such Benchmark or (y) otherwise, any payment period for interest calculated with reference
to such Benchmark, as applicable, that is or may be used for determining the length of an Accrual Period pursuant to this Agreement as
of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of “Accrual
Period” pursuant to Section 3.6 and/or Section 4.5, as applicable.

 

“Avnet”
has the meaning set forth in the preamble to this Agreement.

 

“Base Dilution Component”
means, on any date, an amount equal to the Base Dilution Factor multiplied by the Net Receivables Balance as of the close of business
of the Servicer on such date.

 

“Base Dilution Factor”
means the average of the monthly Dilution Ratios occurring during the 12 most recent fiscal months multiplied by the Dilution Horizon
Factor.

 

“Benchmark”
means, initially, LMIR; provided that if a Benchmark Transition Event, a Term SOFR Transition Event, or an Early Opt-in Election, as applicable,
and its related Benchmark Replacement Date have occurred with respect to LMIR or the then-current Benchmark, then “Benchmark”
means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant
to Section 3.6 and/or Section 4.5, as applicable.

 

    Exh I-2

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

“Benchmark
Replacement” means, for any Available Tenor:

 

(i)              with
respect to any Benchmark Transition Event or Early Opt-in Election, the first alternative set forth in the order below that can be determined
by the Agent for the applicable Benchmark Replacement Date:

 

(a)        the
sum of: (A) Term SOFR and (B) the related Benchmark Replacement Adjustment;

 

(b)       the
sum of: (A) Daily Simple SOFR and (B) the related Benchmark Replacement Adjustment;

 

“Benchmark
Replacement” means (c)     the
sum of: (aA) the
alternate benchmark rate (which may include Term SOFR) that has been selected by the
Agent and the Seller as the replacement for the then-current Benchmark for
the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation of a replacement benchmark
rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing
market convention for determining a benchmark rate of
interest as a replacement to LIBOR for U.S. dollar-denominatedfor
the then-current Benchmark for Dollar-denominated syndicated credit facilities at
such time and (bB)
the related Benchmark Replacement Adjustment; provided
that, if the Benchmark Replacement as so determined would be less than zero, the Benchmark Replacement will be deemed to be zero for the
purposes of this Agreement.or

 

(ii)            with
respect to any Term SOFR Transition Event, the sum of (i) Term SOFR and (ii) the related Benchmark Replacement Adjustment;

 

provided,
that, (x) in the case of clause (i)(a), if the Agent decides that Term SOFR is not administratively feasible for the Agent, then
Term SOFR will be deemed unable to be determined for purposes of this definition and (y) in the case of clause (i)(a) or clause
(ii) of this definition, the applicable Unadjusted Benchmark Replacement is displayed on a screen or other information service that
publishes such rate from time to time as selected by the Agent in its reasonable discretion. If the Benchmark Replacement as determined
pursuant to clause (i)(a), (i)(b) or (i)(c) or clause (ii) of this definition would be less than the Floor, the Benchmark
Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Transaction Documents.

 

“Benchmark
Replacement Adjustment” means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement
for any applicable Accrual Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement:

 

		(i)	for purposes of clauses (i)(a) and (i)(b) of
the definition of “Benchmark Replacement,” the first alternative set forth in the order below that can be determined by the
Agent:

 

(a)        the
spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero)
as of the Reference Time such Benchmark Replacement is first set for such Accrual Period that has been selected or recommended by the
Relevant Governmental Body for the replacement of such Available Tenor of such Benchmark with the applicable Unadjusted Benchmark Replacement;

 

(b)       the
spread adjustment (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first set
for such Accrual Period that would apply to the fallback rate for a derivative transaction referencing the ISDA Definitions to be effective
upon an index cessation event with respect to such Available Tenor of such Benchmark;

 

(ii)            for
purposes of clause (i)(c) of the definition of “Benchmark Replacement Adjustment”
means, with respect to any replacement of LIBOR with an Unadjusted Benchmark Replacement for each applicable Interest Period,,”
the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or
zero) that has been selected by the Agent and the Seller giving due consideration to (i) any
selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement
of such Available Tenor of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the
applicable Benchmark Replacement Date or (ii) any evolving or then-prevailing market convention for determining a spread adjustment,
or method for calculating or determining such spread adjustment, for the replacement of such Available Tenor of such Benchmark with the
applicable Unadjusted Benchmark Replacement for Dollar-denominated syndicated credit facilities; and

 

    Exh I-3

     

    

 

FOURTH
AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

(iii)           for
purposes of clause (ii) of the definition of “Benchmark Replacement,” the spread adjustment, or method for calculating
or determining such spread adjustment, (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement
is first set for such Accrual Period that has been selected or recommended by the Relevant Governmental Body for the replacement of such
Available Tenor of LMIR with a SOFR-based rate;

 

provided,
that, (x) in the case of clause (i) above, such adjustment is displayed on a screen or other information service that publishes
such Benchmark Replacement Adjustment from time to time as selected by the Agent in its reasonable discretion and (y) if the then-current
Benchmark is a term rate, more than one tenor of such Benchmark is available as of the applicable Benchmark Replacement Date and the applicable
Unadjusted Benchmark Replacement that will replace such Benchmark in accordance with Section 3.6 and/or Section 4.5 will not
be a term rate, the Available Tenor of such Benchmark for purposes of this definition of “Benchmark Replacement Adjustment”
shall be deemed to be, with respect to each Unadjusted Benchmark Replacement having a payment period for interest calculated with reference
thereto, the Available Tenor that has approximately the same length (disregarding business day adjustments) as such payment period.

 

(i)             any
selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement
of LIBOR with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body; or

 

(ii)            any
evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread
adjustment, for the replacement of LIBOR with the applicable Unadjusted Benchmark Replacement for U.S. dollar- denominated syndicated
credit facilities at such time.

 

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

 

“Benchmark Replacement
Date” means the earlierearliest
to occur of the following events with respect to LIBORthe
then-current Benchmark:

 

(i)             in
the case of clause (1i)
or (2ii)
of the definition of “Benchmark Transition Event,” the later of (a) the date of the public statement or publication of
information referenced therein and (b) the date on which the administrator of LIBORsuch
Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide LIBOR;
orall Available Tenors of such Benchmark (or such component
thereof);

 

(ii)            in
the case of clause (3iii)
of the definition of “Benchmark Transition Event,” the date of the public statement or publication of information referenced
therein.;

 

(iii)           in
the case of a Term SOFR Transition Event, the date that is thirty (30) days after the Agent has provided the Term SOFR Notice to the Purchasers
and the Seller pursuant to Section 3.6 and/or Section 4.5; or

 

    Exh I-4

     

    

 

FOURTH
AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

(iv)           in
the case of an Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in Election is provided to
the Purchasers, so long as the Agent has not received, by 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the
date notice of such Early Opt-in Election is provided to the Purchasers, written notice of objection to such Early Opt-in Election from
Purchasers comprising the Required Purchasers.

 

For
the avoidance of doubt, (x) if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than,
the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference
Time for such determination and (y) the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause
(i) or (ii) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect
to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof).

 

“Benchmark Transition
Event” means the occurrence of one or more of the following events with respect to LIBORthe
then-current Benchmark:

 

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

 

(ii)            a
public statement or publication of information by the regulatory supervisor for the administrator of LIBOR,
the U.S.such Benchmark (or the published component used in
the calculation thereof), the Federal Reserve System, the Federal
Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for LIBORsuch
Benchmark (or such component), a resolution authority with jurisdiction over the administrator for LIBORsuch
Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator
for LIBORsuch Benchmark (or
such component), which states that the administrator of LIBORsuch
Benchmark (or such component) has ceased or will cease to provide LIBORall
Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely, provided that, at the time of such
statement or publication, there is no successor administrator that will continue to provide LIBORany
Available Tenor of such Benchmark (or such component thereof); or

 

(iii)           a
public statement or publication of information by the regulatory supervisor for the administrator of LIBORsuch
Benchmark (or the published component used in the calculation thereof) announcing that LIBOR
isall Available Tenors of such Benchmark (or such component
thereof) are no longer representative.

 

“Benchmark
Transition Start Date” means (a) in the case of a Benchmark Transition Event, the earlier of (i) the
applicable Benchmark Replacement Date and (ii) if such Benchmark Transition Event is a public statement or publication of information
of a prospective event, the ninetieth (90th) day prior to the expected date of such event as of such public statement or publication of
information (or if the expected date of such prospective event is fewer than ninety (90) days after such statement or publication, the
date of such statement or publication) and (b) in the case of an Early Opt-in Election, the date specified by the Agent or the Required
Purchasers, as applicable, by notice to the Seller, the Agent (in the case of such notice by the Required Purchasers) and the Purchasers.

 

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

 

    Exh I-5

     

    

 

FOURTH
AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

“Benchmark Unavailability
Period” means, if a Benchmark Transition Event and its related Benchmark Replacement Date have
occurred with respect to LIBOR and solely to the extent that LIBOR has not been replaced with a Benchmark Replacement, 
the period (if any) (x) beginning at the time that sucha
Benchmark Replacement Date pursuant to clauses (i) or (ii) of that
definition has occurred if, at such time, no Benchmark Replacement has replaced LIBORthe
then-current Benchmark for all purposes hereunderunder
this Agreement and any other Transaction Document in accordance with Sections 3.5Section 3.6
and/or Section 4.5 and (y) ending at the time that
a Benchmark Replacement has replaced LIBORthe
then-current Benchmark for all purposes hereunder pursuant to Sections
3.5 andunder this Agreement and any other
Transaction Document in accordance with Section 3.6 and/or Section 4.5.

 

“Beneficial Ownership
Certification” means a certification regarding beneficial ownership required by the Beneficial Ownership Regulation, which certification
shall be substantially similar in form and substance to the form of Certification Regarding Beneficial Owners of Legal Entity Customers
published jointly, in May 2018, by the Loan Syndications and Trading Association and Securities Industry and Financial Markets Association.

 

“Beneficial Ownership
Regulation” means 31 C.F.R. § 1010.230.

 

“Broken Funding Costs”
means for any Purchaser Interest which (i) has its Capital reduced without compliance by Seller with the notice requirements hereunder
or (ii) does not become subject to an Aggregate Reduction following the delivery of any Reduction Notice or (iii) is assigned,
transferred or funded pursuant to a Funding Agreement or otherwise transferred or terminated prior to the date on which it was originally
scheduled to end, an amount equal to the excess, if any, of (A) the CP Costs or Yield (as applicable) that would have accrued during
the remainder of the Accrual Period or Tranche Periods (as applicable) subsequent to the date of such reduction, assignment or termination
(or in respect of clause (ii) above, the date such Aggregate Reduction was designated to occur pursuant to the Reduction Notice)
of the Capital of such Purchaser Interest if such reduction, assignment or termination had not occurred or such Reduction Notice had not
been delivered, over (B) the sum of (x) to the extent all or a portion of such Capital is allocated to another Purchaser Interest,
the amount of CP Costs or Yield actually accrued during the remainder of such period on such Capital for the new Purchaser Interest, and
(y) to the extent such Capital is not allocated to another Purchaser Interest, the income, if any, actually received net of any costs
of redeployment of funds during the remainder of such period by the holder of such Purchaser Interest from investing the portion of such
Capital not so allocated. In the event that the amount referred to in clause (B) exceeds the amount referred to in clause
(A), the relevant Purchaser or Purchasers agree to pay to Seller the amount of such excess. All Broken Funding Costs shall be due and
payable hereunder upon demand.

 

“Business Day”
means any day on which banks are not authorized or required to close in New York, New York and The Depository Trust Company of New York
is open for business, and, if the applicable Business Day relates to any computation or payment to be made with respect to the
LIBO RateLMIR, any day on which dealings in dollar
deposits are carried on in the London interbank market.

 

“Canadian Receivable”
means a Receivable the Obligor of which, if a natural person, is a resident of Canada or, if a corporation or other business organization,
is organized under the laws of Canada or any political subdivision thereof and has its chief executive office in Canada.

 

“Capital”
of any Purchaser Interest means, at any time, (A) the Purchase Price of such Purchaser Interest, minus (B) the sum of the aggregate
amount of Collections and other payments received by the Agent or any Purchaser which in each case are applied to reduce such Capital
in accordance with the terms and conditions of this Agreement; provided that such Capital shall be restored (in accordance with
Section 2.5) in the amount of any Collections or other payments so received and applied if at any time the distribution of
such Collections or payments are rescinded, returned or refunded for any reason.

 

    Exh I-6

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

with the terms hereof (including Section 4.6(b))
and (ii) with respect to any individual purchase hereunder, its Pro Rata Share of the Purchase Price therefor.

 

“Concentration Component”
means, on any date, an amount equal to the Concentration Factor multiplied by the Net Receivables Balance as of the close of business
of the Servicer on such date.

 

“Concentration Factor”
means 12.5%.

 

“Concentration Limit”
means, at any time, in relation to the aggregate Outstanding Balance of Eligible Receivables owed by any single Obligor and any Affiliates
of such Obligor (if any), the concentration limit determined as follows:

 

for Obligors who have (or,
if the Obligor is not rated, whose parent entity has) short term unsecured debt ratings currently assigned to them by S&P and Moody’s
(or in the absence thereof, the equivalent long term unsecured senior debt ratings):

 

	Level	 	 	Rating	 	Concentration Limit	 
	Level 1	 	 	A-1+/P-1 or AA-/Aa3	 	 	15.000	%
	Level 2	 	 	A-1/P-1 or A/A2	 	 	12.500	%
	Level 3	 	 	A-2/P-2 or BBB+/Baa1	 	 	6.250	%
	Level 4	 	 	A-3/P-3 or BBB-/Baa3	 	 	4.167	%
	Level 5	 	 	Non-Rated/Not Investment Grade	 	 	2.500	%

 

; provided, however,
that (i) if any Obligor (or, if the Obligor is not rated, its parent entity) has a split rating, (x) if the ratings differ by
one level, then the level for the higher of such ratings will apply and (y) if there is a split in ratings of more than one level,
then the level that is one level lower than the level of the higher rating will apply; (ii) upon Seller’s request from time
to time, the Purchasers, in their sole discretion, may agree to a higher percentage of Eligible Receivables for a particular Obligor and
its Affiliates (each such higher percentage, a “Special Concentration Limit”), it being understood that any Special
Concentration Limit may be cancelled by any Purchaser upon not less than five Business Days’ written notice to Seller and the Agent;
and (iii) commencing on July 31, 2020, Sanmina Corporation shall be an Obligor with a Special Concentration Limit of 5.00% until
such time as such Special Concentration Limit is cancelled by any Purchaser in accordance with the preceding clause (ii).

 

“Consent Notice”
has the meaning set forth in Section 4.6(a).

 

“Consent Period”
has the meaning set forth in Section 4.6(a).

 

“Consenting Party”
has the meaning set forth in Section 10.2(c).

 

“Contingent Obligation”
of a Person means any agreement, undertaking or arrangement by which such Person assumes, guarantees, endorses, contingently agrees to
purchase or provide funds for the payment of, or otherwise becomes or is contingently liable upon, the obligation or liability of any
other Person, or agrees to maintain the net worth or working capital or other financial condition of any other Person, or otherwise assures
any creditor of such other Person against loss, including, without limitation, any comfort letter, operating agreement,
take-or-pay contract or application for a letter of credit.

 

“Contract”
means, with respect to any Receivable, any and all instruments, agreements, invoices or other writings pursuant to which such Receivable
arises or which evidences such Receivable.

 

“Corresponding
Tenor” with respect to any Available Tenor means, as applicable, either a tenor (including overnight) or an interest payment period
having approximately the same length (disregarding business day adjustment) as such Available Tenor.

 

    Exh I-8

     

    

 

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

“CP Company”
means a Company that funds Incremental Purchases through the issuance of Commercial Paper.

 

“CP Costs”
means with respect to any Purchaser Interest of a Company for any day, an amount equal to the product of the applicable Discount Rate
for such Purchaser Interest multiplied by the Capital of such Purchaser Interest for such day, divided by 360.

 

“CRR” means
Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions
and investment firms and amending Regulation (EU) No 648/2012, as amended from time to time.

 

“Credit Agreement”
means that certain Amended and Restated Credit Agreement, dated as of June 28, 2018, among Avnet, Inc., certain subsidiaries
as borrowers, each lender from time to time party thereto and Bank of America, N.A., as administrative agent, swing line lender and an
L/C issuer, after giving effect to any amendment, restatement, waiver, release, supplementation, cancellation, termination, renewal, extension,
replacement, refinancing or other modification thereof.

 

“Credit and Collection
Policy” means the collection policies and practices relating to Contracts and Receivables summarized in Exhibit VIII
hereto, as modified from time to time in accordance with the Receivables Sale Agreement and this Agreement.

 

“Daily
Simple SOFR” means, for any day, SOFR, with the conventions for this rate (which will include a lookback) being established by the
Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily
Simple SOFR” for syndicated credit facilities; provided, that, if the Agent decides that any such convention is not administratively
feasible for the Agent, then the Agent may establish another convention in its reasonable discretion.

 

“Deemed Collections”
means the aggregate of all amounts Seller shall have been deemed to have received as a Collection of a Receivable. Seller shall be deemed
to have received a Collection in full of a Receivable if at any time (i) the Outstanding Balance of any such Receivable is either
(x) reduced as a result of any defective or rejected goods or services, any discount or any adjustment or otherwise by Seller (other
than cash Collections on account of the Receivables) or (y) reduced or canceled as a result of a setoff in respect of any claim by
any Person (whether such claim arises out of the same or a related transaction or an unrelated transaction) or (ii) any of the representations
or warranties in Article V are no longer true with respect to any Receivable.

 

“Default Fee”
means with respect to any amount due and payable by Seller in respect of any Aggregate Unpaids, an amount equal to the greater of (i) $1,000
and (ii) interest on any such unpaid Aggregate Unpaids at a rate per annum equal to 2.00% above the Alternative Base Rate.

 

“Default Ratio”
means an amount (expressed as a percentage) equal to (i) the sum of (A) the aggregate Outstanding Balance of all Receivables
that were unpaid for 91 days or more (but less than 121 days) after the original due date as of the last day of the fiscal month then
most recently ended and (B) the aggregate Outstanding Balance of all Receivables that became Charged-Off Receivables during such
fiscal month divided by (ii) the aggregate Outstanding Balance of Receivables originated during the fiscal month that is the fourth
fiscal month prior to the fiscal month then most recently ended.

 

“Defaulted Receivable”
means a Receivable (i) as to which any payment, or part thereof, remains unpaid for 91 calendar days or more from the original due
date for such payment or (ii) that becomes a Charged-Off Receivable prior to 91 calendar days after the original due date.

 

“Defaulting
Purchaser” means any Purchaser that (a) has failed to (i) fund all or any portion of any Incremental Purchase
required to be made by it within two Business Days of the date such Incremental Purchase was required to be funded hereunder, or
(ii) pay to the Agent or any other Purchaser any other amount required to be paid by it hereunder within two Business Days of
the date when such other amount is due, (b) has notified the Agent of such Receivables that are rebilled to the Obligor,
originated during the fiscal month that is the third fiscal month prior to the fiscal month then most recently ended.

 

    Exh. I-9

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

“Dilution Ratio
Trigger” means, at any time, a percentage equal to (i) the aggregate amount of Dilutions, less the amount of such Dilutions
for which the related Receivables are rebilled to the Obligor, which occurred during the fiscal month period then most recently ended,
divided by (ii) the aggregate amount of Receivables, less the amount of such Receivables that are rebilled to the Obligor, originated
during the fiscal month period three months prior to the month then most recently ended.

 

“Dilution Reserve”
means, on any date, an amount equal to the Dilution Percentage multiplied by the Net Receivables Balance as of the close of business
of the Servicer on such date.

 

“Dilutions”
means, at any time, the aggregate amount of reductions or cancellations described in clause (i) of the definition of “Deemed
Collections”.

 

“Discount Rate”
means the LIBO Rate,
with respect to each Purchaser Interest, the sum of (i) the Benchmark or the Alternative Base Rate, as applicable with
respect to each Purchaser Interest,
and (ii) the Used Fee.

 

“Early Opt-in Election”
means, if the then-current Benchmark is LMIR, the occurrence of:

 

(i)            (a) a
determination by the Agent or (b) a notification by the Required Purchasers to the Agent (with a copy to the Seller) that the Required
Purchasers have determined that U.S. dollar-denominated syndicated credit facilities being executed at such time, or that include language
similar to that contained in Section 3.5 or Section 4.5,
are being executed or amended, as applicable, to incorporate or adopt a new benchmark interest rate to replace LIBOR, and

 

(i)            a
notification by the Agent to (or the request by the Seller to the Agent to notify) each of the other parties hereto that at least five
currently outstanding 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

 

(ii)           (a) the
joint election by the Agent or
(b) the election by the Required Purchasers, to declare that an Early Opt-in Election has occurredand
the Seller to trigger a fallback from LMIR and the provision, as applicable, 
by the Agent of written notice of such election to the Seller and the Purchasers or
by the Required Purchasers of written notice of such election to the Agent.

 

“Electing Party”
has the meaning set forth in Section 10.2(c).

 

“Eligible Receivable”
means, at any time, a Receivable:

 

(i)            the
Obligor of which (a) if a natural person, is a resident of the United States or, if a corporation or other business organization,
is organized under the laws of the United States or any political subdivision thereof and has its chief executive office in the United
States; (b) is not an Affiliate of any of the parties hereto; (c) is not a Designated Obligor; and (d) is not a government
or a governmental subdivision or agency, provided that (x) a Government Receivable that otherwise would be an Eligible Receivable
under this definition but for this clause (i) shall be an Eligible Receivable to the extent that the aggregate Outstanding Balance
of all such Government Receivables does not exceed 2% of the aggregate Outstanding Balance of all Receivables; (y) a Canadian Receivable
that otherwise would be an Eligible Receivable under this definition but for this clause (i) shall be an Eligible Receivable to the
extent that the aggregate Outstanding Balance of all such Canadian Receivables does not exceed 5% of the aggregate Outstanding Balance
of all Receivables and (z) a Foreign Receivable that otherwise would be an Eligible Receivable under this definition but for this
clause (i) shall be an Eligible Receivable to the extent that the aggregate Outstanding Balance of all such Foreign Receivables does
not exceed 12.5% of the aggregate Outstanding Balance of all Receivables,

 

    Exh. I-10

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

(xvi)        as
to which Originator has satisfied and fully performed all obligations on its part with respect to such Receivable required to be fulfilled
by it, and no further action is required to be performed by any Person with respect thereto other than payment thereon by the applicable
Obligor, and

 

(xvii)       all
right, title and interest to and in which has been validly transferred by Originator directly to Seller under and in accordance with the
Receivables Sale Agreement, and Seller has good and marketable title thereto free and clear of any Adverse Claim.

 

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

 

“Erroneous
Payment” has the meaning assigned thereto in Section 11.9(a).

 

“Erroneous
Payment Deficiency Assignment” has the meaning assigned thereto in Section 11.9(d).

 

“Erroneous
Payment Impacted Purchaser Group” has the meaning assigned thereto in Section 11.9(d).

 

“Erroneous
Payment Return Deficiency” has the meaning assigned thereto in Section 11.9(d).

 

“Excluded Acquisition”
means any direct or indirect acquisition of any business by Originator consummated on or after January 1, 2010.

 

“Excluded Receivable”
means all indebtedness and other obligations owed to Originator or in which Originator has a security interest or other interest (including,
without limitation, any indebtedness, obligation or interest constituting an account, chattel paper, instrument or general intangible)
arising in connection with the sale of merchandise or the rendering of services by Originator and further includes, without limitation,
the obligation to pay any Finance Charges with respect thereto:

 

(i)            the
account debtor for which is Intelbras S.A. Industria de Telecomunicacao Eletronica Brasileira and such indebtedness or other obligation
was originated after December 30, 2016;

 

(ii)           the
account debtor for which is 3M Company and such indebtedness or other obligation was originated after October 31, 2017;

 

(iii)          the
account debtor for which is General Electric Company or any other direct or indirect Subsidiary or Affiliate of General Electric Company
(including, without limitation, GE Aviation; GE Healthcare Japan Corporation; GE Healthcare; GE OEC Medical Systems, Inc.; GE Sensing
EMEA Unlimited Company; GE Healthcare Europe GmbH; GE Medical Systems; Baker Hughes Company; GE Consumer & Industrial; GE MDS
LLC; Reuter Stokes Inc.; GE Hangwei Medical Systems Company, Ltd.; Bently Nevada, Inc.; Inspection Technologies; GE Healthcare
Bio-Science Corp; General Electric Co; GE Technology Infrastructure; GE Healthcare Canada; GE Commercial Materials S de RL de CV; GE Global
Research; GE Ultrasound Korea Limited; GE Energy Control Solutions Inc.; General Electric International, Inc.; and GE Lighting Solutions
LLC); or

 

(iv)          which
both (a) arises in connection with the sale of merchandise or the rendering of services by the business previously conducted by any
businesses acquired by Originator in an Excluded Acquisition and (b) is not recorded or maintained in Avnet’s consolidated
general ledger accounting records as part of general ledger category “company code US10” (other than any Receivables previously
coded under “company code US10” that have been coded under any other category without the Agent’s prior written consent).

 

Indebtedness and other rights
and obligations arising from any one transaction, including, without limitation, indebtedness and other rights and obligations represented
by an individual invoice, shall constitute an Excluded Receivable separate from an Excluded Receivable consisting of the indebtedness
and other rights and obligations arising from any other transaction; provided, that any indebtedness, rights or obligations referred to
in the immediately preceding sentence shall be an Excluded Receivable regardless of whether the account debtor or Seller treats such indebtedness,
rights or obligations as a separate payment obligation.

 

    Exh. I-11

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

“Existing Agreement”
means the Original Agreement, as amended, restated or otherwise modified, including pursuant to the Third Amended and Restated Receivables
Purchase Agreement, dated as of February 27, 2017 (as amended prior to the date hereof), among the Seller Parties, Agent, in its
capacities as a company, financial institution and agent, and the companies and financial institutions from time to time party thereto.

 

“Extension Notice”
has the meaning set forth in Section 4.6(a).

 

“Facility Termination
Date” means the earliest of (i) the Liquidity Termination Date and (ii) the Amortization Date.

 

“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) and any current or future regulations or official interpretations thereof and
any agreements entered into pursuant to Section 1471(b)(1) of the Code.

 

“Federal Bankruptcy
Code” means Title 11 of the United States Code entitled “Bankruptcy” (11 U.S.C. §§ 101 et seq.)
as amended and any successor statute thereto.

 

“Federal Funds Effective
Rate” means, for any period, a fluctuating interest rate per annum for each day during such period equal to (a) the weighted
average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers,
as published for such day (or, if such day is not a Business Day, for the preceding Business Day) by the Federal Reserve Bank of New York
in the Composite Closing Quotations for U.S. Government Securities; or (b) if such rate is not so published for any day which is
a Business Day, the average of the quotations at approximately 11:30 a.m. (Eastern time) for such day on such transactions received
by the Agent from three federal funds brokers of recognized standing selected by it.

 

“Federal Reserve
Bank of New York’s Website” means the website of the Federal Reserve Bank of New York at http://www.newyorkfed.org, or
any successor source.

 

“Fee Letter”
means each of (i) the letter agreement relating to the payment of fees to Agent, dated as of July 31August 16,
20202021, between
Seller and the Agent, as the same may be amended, restated, supplemented or otherwise modified and in effect from time to time, (ii) the
letter agreement relating to the payment of fees of the Purchasers, dated as of July 31August 16,
20202021, among
Seller and the Purchasers, as the same may be amended, restated, supplemented or otherwise modified and in effect from time to time and
(iii) any other fee letter or similar letter agreement relating to the payment of fees to any of the Purchasers entered into among
Seller, the Purchasers party thereto and/or any agent or agents acting on behalf of any such Purchasers, as any such fee letter or letter
agreement may be amended, restated, supplemented or otherwise modified and in effect from time to time.

 

“Finance Charges”
means, with respect to a Contract, any finance, interest, late payment charges or similar charges owing by an Obligor pursuant to such
Contract.

 

“Financial Institutions”
has the meaning set forth in the preamble in this Agreement.

 

“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 LMIR.

 

“Foreign Receivable”
means a Receivable (other than a Canadian Receivable) the Obligor of which, if a natural person, is a resident of any member country in
the Organization for Economic Co-operation and Development (other than the United States) (each such member country, a “Specified
OECD Country”) or, if a corporation or other business organization, is organized under the laws of a Specified OECD Country
or any political subdivision thereof and has its chief executive office in a Specified OECD Country or the United States.

 

    Exh. I-12

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

“Funding Agreement”
means this Agreement and any agreement or instrument executed by any Funding Source with or for the benefit of a Company.

 

“Funding Source”
means with respect to any Company (i) such Company’s Related Financial Institution(s) or (ii) any insurance company,
bank or other funding entity providing liquidity, credit enhancement or back-up purchase support or facilities to such Company.

 

“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.

 

“Government Receivable”
means a Receivable the Obligor of which is the United States federal government, a state or local government, a governmental subdivision
of the United States federal government or of a state or local government, or an agency of the United States federal government or of
a state or local government. For the purposes of this definition the phrase “state or local government” means a state
or local government of a state, city or municipality located within the fifty states of the United States or the District of Columbia.

 

“HMT” means
Her Majesty’s Treasury of the United KingdownKingdom.

 

“Honeywell Long-Term
Receivable” means a Receivable, the Obligor of which is Honeywell International Inc. (or a Subsidiary of Honeywell International
Inc.), and which by its terms is due and payable within 121 and 150 calendar days of the original billing date therefor; provided,
that any Receivable that has had its payment terms extended shall not constitute, or shall no longer constitute, a Honeywell Long-Term
Receivable.

 

“Incremental Purchase”
means a purchase of one or more Purchaser Interests which increases the total outstanding Aggregate Capital hereunder.

 

“Indebtedness”
of a Person means such Person’s (i) obligations for borrowed money, (ii) obligations representing the deferred purchase
price of property or services (other than accounts payable arising in the ordinary course of such Person’s business payable on terms
customary in the trade), (iii) obligations, whether or not assumed, secured by liens or payable out of the proceeds or production
from property now or hereafter owned or acquired by such Person, (iv) obligations which are evidenced by notes, acceptances, or other
instruments, (v) capitalized lease obligations, (vi) net liabilities under interest rate swap, exchange or cap agreements, (vii) Contingent
Obligations and (viii) liabilities in respect of unfunded vested benefits under plans covered by Title IV of ERISA.

 

“Indemnified Amounts”
has the meaning set forth in Section 10.1(a).

 

“Indemnified Party”
has the meaning set forth in Section 10.1(a).

 

“Independent Director”
means a member of the Board of Directors of Seller who (i) shall not have been at the time of such Person’s appointment or
at any time during the preceding five years, and shall not be as long as such Person is a director of Seller, (A) a director, officer,
employee, partner, shareholder, member, manager or Affiliate of any of the following Persons (collectively, the “Independent
Parties”): Servicer, Originator, or any of their respective Subsidiaries or Affiliates (other than Seller), (B) a supplier
to any of the Independent Parties, (C) a Person controlling or under common control with any partner, shareholder, member, manager,
Affiliate or supplier of any of the Independent Parties, or (D) a member of the immediate family of any director, officer, employee,
partner, shareholder, member, manager, Affiliate or supplier of any of the Independent Parties; (ii) has prior experience as an independent
director for a corporation or limited liability company whose charter documents required the unanimous consent of all independent directors
thereof before such corporation or limited liability company could consent to the institution of bankruptcy or insolvency proceedings
against it or could file a petition seeking relief under any applicable federal or state law relating to bankruptcy and (iii) has
at least three years of employment experience with one or more entities that provide, in the ordinary course of their respective businesses,
advisory, management or placement services to issuers of securitization or structured finance instruments, agreements or securities.

 

    Exh. I-13

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

“Initial Closing
Date” means June 28, 2001.

 

“ISDA
Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any
successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives
published from time to time by the International Swaps and Derivatives Association, Inc. or such successor thereto.

 

“Laws”
has the meaning set forth in the Credit Agreement.

 

“LIBO
Rate” means a rate equal to the sum of LMIR and the Used Fee.

 

“LIBOR”
or “LMIR” means, for each day, the greater of (a) 0% per annum, and (b) the one-month Eurodollar Rate for
U.S. dollar deposits as reported on the Reuters Screen LIBOR01 Page or any other page that may replace such page from time
to time for the purpose of displaying offered rates of leading banks for London interbank deposits in United States dollars, as of 11:00
a.m. (London time) on such date, or if such day is not a Business Day, then the immediately preceding Business Day (or if not so
reported, then as determined by the Agent from another recognized source for interbank quotation), in each case, changing when and as
such rate changes.

 

“Liquidity Provider
Termination Date” has the meaning set forth in Section 2.2.

 

“Liquidity Termination
Date” means July 30August 31,
20212023.

 

“Lock-Box”
means each locked postal box with respect to which a bank that has executed a Collection Account Agreement has been granted exclusive
access for the purpose of retrieving and processing payments made on the Receivables and which is listed on Exhibit IV.

 

“Long-Term Debt”
means, at any time, in respect of Avnet, any publicly-held senior unsecured debt obligations outstanding at any such time with a maturity
more than one year after the date of any determination hereunder.

 

“Loss Horizon Factor”
means, at any time, a percentage equal to (i) (x) the aggregate amount of Receivables, less the amount of such Receivables that
are rebilled to the Obligor, originated during the four fiscal month period then most recently ended, plus (y) 50% of the
aggregate amount of Receivables, less the amount of such Receivables that are rebilled to the Obligor, originated during the fourth fiscal
month preceding the fiscal month then most recently ended, divided by (ii) the aggregate Outstanding Balance of all Non-Delinquent
Receivables at the end of the fiscal month then most recently ended.

 

“Loss Percentage”
means, at any time, a percentage calculated in accordance with the following formula:

 

LP = SF x LHF x LR

 

where:

 

	 	LP 	= 	the Loss Percentage;
	 	SF	=	the Stress Factor;
	 	LHF 	= 	the Loss Horizon Factor; and
	 	LR 	= 	the highest three month rolling average of the Default Ratios occurring during the 12 most recent fiscal months.

 

“Loss Reserve”
means, on any date, an amount equal to the Loss Percentage multiplied by the Net Receivables Balance as of the close of business of the
Servicer on such date.

 

    Exh. I-14

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

“Purchasers”
means each Company and each Financial Institution.

 

“Purchasing Financial
Institution” has the meaning set forth in Section 12.1(b).

 

“Ratings Request”
has the meaning set forth in Section 10.2(c).

 

“Receivable”
means all indebtedness and other obligations owed to Seller or Originator (at the time it arises, and before giving effect to any transfer
or conveyance under the Receivables Sale Agreement or hereunder) or in which Seller or Originator has a security interest or other interest
(including, without limitation, any indebtedness, obligation or interest constituting an account, chattel paper, instrument
or general intangible), arising in connection with the sale of merchandise or the rendering of services by Originator, and further includes,
without limitation, the obligation to pay any Finance Charges with respect thereto; provided, that ‘Receivable’
shall not include any Excluded Receivable. Indebtedness and other rights and obligations arising from any one transaction, including,
without limitation, indebtedness and other rights and obligations represented by an individual invoice, shall constitute a Receivable
separate from a Receivable consisting of the indebtedness and other rights and obligations arising from any other transaction; provided,
that any indebtedness, rights or obligations referred to in the immediately preceding sentence shall be a Receivable regardless of whether
the account debtor or Seller treats such indebtedness, rights or obligations as a separate payment obligation.

 

“Receivables Sale
Agreement” means that certain Second Amended and Restated Receivables Sale Agreement, dated as of August 16, 2018, between
Originator and Seller, as amended, restated, supplemented or otherwise modified from time to time.

 

“Receivables Term
Excess Concentration Amount” means the sum of (i) the aggregate amount by which the Outstanding Balance of 61-to-90–Day
Receivables exceeds in the aggregate 50% of the aggregate amount of Eligible Receivables, plus (ii) the aggregate amount by
which the Outstanding Balance of 91-to-120–Day Receivables exceeds in the aggregate 15% of the aggregate amount of Eligible Receivables;
plus (iii) the aggregate amount by which the Outstanding Balance of Honeywell Long-Term Receivables that are Eligible Receivables
exceeds in the aggregate 10% of the aggregate amount of Eligible Receivables.

 

“Recharacterization”
has the meaning set forth in Section 13.14(c).

 

“Records”
means, with respect to any Receivable, all Contracts and other documents, books, records and other information (including, without
limitation, computer programs, tapes, disks, punch cards, data processing software and related property and rights) relating to such
Receivable, any Related Security therefor and the related Obligor.

 

“Reduction Notice”
has the meaning set forth in Section 1.3.

 

“Reference
Time” with respect to any setting of the then-current Benchmark means (1) if such Benchmark is LMIR, the time set forth in
the definition of “LMIR” and (2) if such Benchmark is not LMIR, the time determined by the Agent in its reasonable discretion.

 

“Regulatory Requirement”
has the meaning set forth in Section 10.2(a).

 

“Reinvestment”
has the meaning set forth in Section 2.2.

 

“Related Financial
Institution” means, with respect to each Company, each Financial Institution set forth opposite such Company’s name in
Schedule A to this Agreement and/or, in the case of an assignment pursuant to Section 12.1, set forth in the applicable
Assignment Agreement.

 

    Exh. I-15

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

“Related Security”
means, with respect to any Receivable:

 

of Seller now or hereafter outstanding, (iii) any
payment or prepayment of principal of, premium, if any, or interest, fees or other charges on or with respect to, and any redemption,
purchase, retirement, defeasance, sinking fund or similar payment and any claim for rescission with respect to the Subordinated Loans
(as defined in the Receivables Sale Agreement), (iv) any payment made to redeem, purchase, repurchase or retire, or to obtain the
surrender of, any outstanding warrants, options or other rights to acquire shares of any class of capital stock of Seller now or hereafter
outstanding, and (v) any payment of management fees by Seller (except for reasonable management fees to the Servicer or its Affiliates
in reimbursement of actual management services performed).

 

“S&P”
means S&P Global Ratings, a division of S&P Global, Inc.

 

“Sanctions”
means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) OFAC, the U.S.
Department of Commerce or the U.S. Department of State or (b) the United Nations Security Council, the European Union or HMT.

 

“Second Amendment
Date” means July 31, 2020.

 

“Seller”
has the meaning set forth in the preamble to this Agreement.

 

“Seller Parties”
has the meaning set forth in the preamble to this Agreement.

 

“Servicer”
means at any time the Person (which may be the Agent) then authorized pursuant to Article VIII to service, administer and
collect Receivables.

 

“Servicing and Yield
Reserve” means, on any date, an amount equal to 2% multiplied by the Net Receivables Balance as of the close of business of
the Servicer on such date.

 

“Servicing Fee”
has the meaning set forth in Section 8.6.

 

“Settlement Date”
means (i) prior to the Amortization Date, the 20th calendar day of each month (and if such day is not a Business Day, then the next
Business Day) and (ii) on and after the Amortization Date, any Business Day selected by the Agent.

 

“SOFR”
means, with respect to any day
meansBusiness Day, a rate per annum equal to the
secured overnight financing rate published for such day by the Federal Reserve Bank of New York, as the
administrator of the benchmark (or a successor administrator), on the Federal Reserve Bank of New York’s Website.for
such Business Day published by the SOFR Administrator on the SOFR Administrator’s Website on the immediately succeeding Business
Day.

 

“SOFR
Administrator” means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight financing rate).

 

“SOFR
Administrator’s Website” means the website of the Federal Reserve Bank of New York, currently at http://www.newyorkfed.org,
or any successor source for the secured overnight financing rate identified as such by the SOFR Administrator from time to time.

 

“Special Concentration
Limit” has the meaning set forth in the definition of “Concentration Limit.”

 

“Stress Factor”
means a number equal to 2.25.

 

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

 

    Exh. I-16

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

“Term SOFR”
means, for the applicable Corresponding Tenor as of the applicable Reference
Time, the forward-looking term rate based on SOFR that has been selected or recommended by the Relevant Governmental Body.

 

“Term
SOFR Notice” means a notification by the Agent to the Purchasers and the Seller of the occurrence of a Term SOFR Transition Event.

 

“Term
SOFR Transition Event” means the determination by the 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 Agent and (c) a Benchmark Transition
Event or an Early Opt-in Election, as applicable, has previously occurred resulting in the replacement of the then-current Benchmark for
all purposes under this Agreement and each other Transaction Document in accordance with Section 3.6 and/or Section 4.5 with
a Benchmark Replacement the Unadjusted Benchmark Replacement component of which is not Term SOFR.

 

“Terminating Commitment
Amount” means, with respect to (i) any Terminating Financial Institution that is a Related Financial Institution for a
CP Company, an amount equal to the Commitment (without giving effect to clause (iii) of the proviso to the penultimate sentence
of Section 4.6(b)) of such Terminating Financial Institution, divided by, 102% and (ii) each other Terminating
Financial Institution, an amount equal to the Commitment.

 

“Terminating Commitment
Availability” means, with respect to:

 

(i) any Terminating
Financial Institution that is a Related Financial Institution for a CP Company, the positive difference (if any) between (a) an amount
equal to the Commitment (without giving effect to clause (iii) of the proviso to the penultimate sentence of Section 4.6(b))
of such Terminating Financial Institution, divided by, 102%, minus (b) the Capital of the Purchaser Interests funded
by such Terminating Financial Institution; and

 

(ii) each other
Terminating Financial Institution, the positive difference (if any) between (a) an amount equal to the Commitment (without giving
effect to clause (iii) of the proviso to the penultimate sentence of Section 4.6(b)) of such Terminating Financial
Institution, minus (b) the Capital of the Purchaser Interests funded by such Terminating Financial Institution .

 

“Terminating Financial
Institution” has the meaning set forth in Section 4.6(b).

 

“Termination Percentage”
has the meaning set forth in Section 2.2.

 

“Terminating Tranche”
has the meaning set forth in Section 4.3(b).

 

“Tranche Period”
means, with respect to any Purchaser Interest held by a Financial Institution, (i) prior to the occurrence of the Amortization Date,
a period commencing on (A) if the Financial Institution acquired the related Purchaser Interest during an Accrual Period, the date
during such Accrual Period on which such Financial Institution acquired such Purchaser Interest and (B) otherwise, on the first day
of each Accrual Period, and in each case, ending on the final day of such Accrual Period and (ii) following the occurrence of the
Amortization Date, a period commencing and ending on the Business Days selected by the applicable Financial Institution.

 

“Transaction Documents”
means, collectively, this Agreement, each Purchase Notice, the Receivables Sale Agreement, each Collection Account Agreement, the Fee
Letters, the Subordinated Note (as defined in the Receivables Sale Agreement) and all other instruments, documents and agreements executed
and delivered in connection herewith.

 

“UCC” means
the Uniform Commercial Code as from time to time in effect in the specified jurisdiction.

 

“Unadjusted Benchmark
Replacement” means the applicable Benchmark Replacement excluding
the related Benchmark Replacement Adjustment.

 

    Exh. I-17

     

    

 

FOURTH AMENDED AND RESTATED

RECEIVABLES PURCHASE AGREEMENT

 

EXHIBIT II

 

FORM OF PURCHASE NOTICE

 

	 	[Date]

 

Wells Fargo Bank, N.A.,

as Agent

1100 Abernathy Rd. NE, 16th Floor

Atlanta, GA 30328

 

Attention:         _______

 

Re: PURCHASE NOTICE

 

Ladies and Gentlemen:

 

Reference is hereby made to the Fourth Amended
and Restated Receivables Purchase Agreement, dated as of August 16, 2018, by and among Avnet Receivables Corporation, a Delaware
corporation (the “Seller”), Avnet, Inc., as Servicer, the Financial Institutions, the Companies and Wells Fargo
Bank, N.A., as Agent (as amended, restated, supplemented or otherwise modified from time to time the “Receivables Purchase Agreement”).
Capitalized terms used herein shall have the meanings assigned to such terms in the Receivables Purchase Agreement.

 

The Agent is hereby notified of the following Incremental
Purchase:

 

	Purchase Price:	$                                                                                                                            
	Date of Purchase:	                                                                                                                             
	Requested Discount Rate:	[LIBO
    RateBenchmark]
    [Alternative Base Rate]

 

Please advise [Name] at telephone no ( ) _________________
if any Company will not be making this purchase.

 

In connection with the Incremental Purchase to
be made on the above listed “Date of Purchase” (the “Purchase Date”), Seller hereby certifies that the
following statements are true on the date hereof, and will be true on the Purchase Date (before and after giving effect to the proposed
Incremental Purchase):

 

(i)            the
representations and warranties of Seller set forth in Section 5.1 of the Receivables Purchase Agreement are true and correct
on and as of the Purchase Date as though made on and as of such date;

 

(ii)            no
event has occurred and is continuing, or would result from the proposed Incremental Purchase, that will constitute an Amortization Event
or a Potential Amortization Event;

 

(iii)          the
Facility Termination Date has not occurred, the Aggregate Capital does not exceed the Purchase Limit and the aggregate Purchaser Interests
do not exceed 100%; and

 

(iv)          the
amount of Aggregate Capital is $_________ after giving effect to the Incremental Purchase to be made on the Purchase Date.

 

    Exh. II-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}]]