Document:

EX-10.1

 Exhibit 10.1 

EXECUTION COPY 
  

 
  

AMENDED AND RESTATED SENIOR SECURED REVOLVING CREDIT 

AGREEMENT 
 dated as of

 August 26, 2022, 

between 
 OWL ROCK
CAPITAL CORPORATION 
 The LENDERS and ISSUING BANKS Party Hereto 

and 
 TRUIST BANK

 as Administrative Agent 

ING CAPITAL LLC 
 as
Syndication Agent 
 $1,855,000,000 
  

 
 TRUIST
SECURITIES, INC., 
 ING CAPITAL LLC, 

MUFG UNION BANK, N.A., 

SUMITOMO MITSUI BANKING CORPORATION, 

WELLS FARGO BANK, NATIONAL ASSOCIATION and 

SANTANDER BANK, N.A. 
 as
Joint Lead Arrangers 
 TRUIST SECURITIES, INC. and 

ING CAPITAL LLC, 
 as
Joint Book Runners 
 MUFG UNION BANK, N.A. and 

SUMITOMO MITSUI BANKING CORPORATION 

as Documentation Agents 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	1	 
			
	 SECTION 1.01.
	 	 Defined Terms
	  	 	1	 
	 SECTION 1.02.
	 	 Classification of Loans and Borrowings
	  	 	57	 
	 SECTION 1.03.
	 	 Terms Generally
	  	 	57	 
	 SECTION 1.04.
	 	 Accounting Terms; GAAP
	  	 	58	 
	 SECTION 1.05.
	 	 Currencies; Currency Equivalents
	  	 	58	 
	 SECTION 1.06.
	 	 Divisions
	  	 	60	 
	 SECTION 1.07.
	 	 Issuers
	  	 	60	 
	 SECTION 1.08.
	 	 Outstanding Indebtedness
	  	 	60	 
	 SECTION 1.09.
	 	 Reclassification
	  	 	60	 
	 SECTION 1.10.
	 	 Calculations
	  	 	60	 
	 SECTION 1.11.
	 	 Rates
	  	 	60	 
		
	 ARTICLE II THE CREDITS
	  	 	61	 
			
	 SECTION 2.01.
	 	 The Commitments
	  	 	61	 
	 SECTION 2.02.
	 	 Loans and Borrowings
	  	 	61	 
	 SECTION 2.03.
	 	 Requests for Borrowings
	  	 	63	 
	 SECTION 2.04.
	 	 Swingline Loans
	  	 	64	 
	 SECTION 2.05.
	 	 Letters of Credit
	  	 	67	 
	 SECTION 2.06.
	 	 Funding of Borrowings
	  	 	73	 
	 SECTION 2.07.
	 	 Interest Elections
	  	 	73	 
	 SECTION 2.08.
	 	 Termination, Reduction or Increase of the Commitments
	  	 	75	 
	 SECTION 2.09.
	 	 Repayment of Loans; Evidence of Debt
	  	 	79	 
	 SECTION 2.10.
	 	 Prepayment of Loans
	  	 	81	 
	 SECTION 2.11.
	 	 Fees
	  	 	86	 
	 SECTION 2.12.
	 	 Interest
	  	 	87	 
	 SECTION 2.13.
	 	 Market Disruption and Alternate Rate of Interest
	  	 	88	 
	 SECTION 2.14.
	 	 Increased Costs
	  	 	92	 
	 SECTION 2.15.
	 	 Break Funding Payments
	  	 	94	 
	 SECTION 2.16.
	 	 Taxes
	  	 	94	 
	 SECTION 2.17.
	 	 Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	  	 	98	 
	 SECTION 2.18.
	 	 Defaulting Lenders
	  	 	100	 
	 SECTION 2.19.
	 	 Mitigation Obligations; Replacement of Lenders
	  	 	102	 
	 SECTION 2.20.
	 	 Assignment and Reallocation of Existing Commitments and Existing Loans
	  	 	103	 
	 SECTION 2.21.
	 	 Reallocation Following a Non-Extended Commitment Termination Date
	  	 	104	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 ARTICLE III REPRESENTATIONS AND WARRANTIES
	  	 	105	 
			
	 SECTION 3.01.
	 	 Organization; Powers
	  	 	105	 
	 SECTION 3.02.
	 	 Authorization; Enforceability
	  	 	106	 
	 SECTION 3.03.
	 	 Governmental Approvals; No Conflicts
	  	 	106	 
	 SECTION 3.04.
	 	 Financial Condition; No Material Adverse Change
	  	 	106	 
	 SECTION 3.05.
	 	 Litigation
	  	 	106	 
	 SECTION 3.06.
	 	 Compliance with Laws and Agreements
	  	 	107	 
	 SECTION 3.07.
	 	 Sanctions and Anti-Corruption Laws
	  	 	107	 
	 SECTION 3.08.
	 	 Taxes
	  	 	107	 
	 SECTION 3.09.
	 	 ERISA
	  	 	107	 
	 SECTION 3.10.
	 	 Disclosure
	  	 	107	 
	 SECTION 3.11.
	 	 Investment Company Act; Margin Regulations
	  	 	108	 
	 SECTION 3.12.
	 	 Material Agreements and Liens
	  	 	108	 
	 SECTION 3.13.
	 	 Subsidiaries and Investments
	  	 	109	 
	 SECTION 3.14.
	 	 Properties
	  	 	109	 
	 SECTION 3.15.
	 	 Affiliate Agreement
	  	 	110	 
	 SECTION 3.16.
	 	 Security Documents
	  	 	110	 
	 SECTION 3.17.
	 	 Affected Financial Institutions
	  	 	110	 
		
	 ARTICLE IV CONDITIONS
	  	 	110	 
			
	 SECTION 4.01.
	 	 Effective Date
	  	 	110	 
	 SECTION 4.02.
	 	 Each Credit Event
	  	 	112	 
		
	 ARTICLE V AFFIRMATIVE COVENANTS
	  	 	112	 
			
	 SECTION 5.01.
	 	 Financial Statements and Other Information
	  	 	112	 
	 SECTION 5.02.
	 	 Notices of Material Events
	  	 	114	 
	 SECTION 5.03.
	 	 Existence; Conduct of Business
	  	 	115	 
	 SECTION 5.04.
	 	 Payment of Obligations
	  	 	115	 
	 SECTION 5.05.
	 	 Maintenance of Properties; Insurance
	  	 	115	 
	 SECTION 5.06.
	 	 Books and Records; Inspection Rights
	  	 	116	 
	 SECTION 5.07.
	 	 Compliance with Laws; Anti-Corruption; Sanctions
	  	 	116	 
	 SECTION 5.08.
	 	 Certain Obligations Respecting Subsidiaries; Further Assurances
	  	 	116	 
	 SECTION 5.09.
	 	 Use of Proceeds
	  	 	118	 
	 SECTION 5.10.
	 	 Status of RIC and BDC
	  	 	119	 

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

							
		 		  	 	Page	 
	 SECTION 5.11.
	 	 Investment and Valuation Policies
	  	 	119	 
	 SECTION 5.12.
	 	 Portfolio Valuation and Diversification, Etc.
	  	 	119	 
	 SECTION 5.13.
	 	 Calculation of Borrowing Base
	  	 	125	 
	 SECTION 5.14.
	 	 Post-Closing Actions
	  	 	135	 
		
	 ARTICLE VI NEGATIVE COVENANTS
	  	 	135	 
			
	 SECTION 6.01.
	 	 Indebtedness
	  	 	135	 
	 SECTION 6.02.
	 	 Liens
	  	 	137	 
	 SECTION 6.03.
	 	 Fundamental Changes and Dispositions of Assets
	  	 	138	 
	 SECTION 6.04.
	 	 Investments
	  	 	141	 
	 SECTION 6.05.
	 	 Restricted Payments
	  	 	143	 
	 SECTION 6.06.
	 	 Certain Restrictions on Significant Subsidiaries
	  	 	143	 
	 SECTION 6.07.
	 	 Certain Financial Covenants
	  	 	144	 
	 SECTION 6.08.
	 	 Transactions with Affiliates
	  	 	144	 
	 SECTION 6.09.
	 	 Lines of Business
	  	 	144	 
	 SECTION 6.10.
	 	 No Further Negative Pledge
	  	 	145	 
	 SECTION 6.11.
	 	 Modifications of Certain Documents
	  	 	145	 
	 SECTION 6.12.
	 	 Payments of Other Indebtedness
	  	 	145	 
		
	 ARTICLE VII EVENTS OF DEFAULT
	  	 	146	 
			
	 SECTION 7.01.
	 	 Events of Default
	  	 	146	 
		
	 ARTICLE VIII THE ADMINISTRATIVE AGENT
	  	 	151	 
			
	 SECTION 8.01.
	 	 The Administrative Agent
	  	 	151	 
	 SECTION 8.02.
	 	 Certain ERISA Matters
	  	 	153	 
	 SECTION 8.03.
	 	 Erroneous Payments
	  	 	155	 
		
	 ARTICLE IX MISCELLANEOUS
	  	 	157	 
			
	 SECTION 9.01.
	 	 Notices; Electronic Communications
	  	 	157	 
	 SECTION 9.02.
	 	 Waivers; Amendments
	  	 	159	 
	 SECTION 9.03.
	 	 Expenses; Indemnity; Damage Waiver
	  	 	162	 
	 SECTION 9.04.
	 	 Successors and Assigns
	  	 	164	 
	 SECTION 9.05.
	 	 Survival
	  	 	168	 
	 SECTION 9.06.
	 	 Counterparts; Integration; Effectiveness; Electronic Execution
	  	 	168	 
	 SECTION 9.07.
	 	 Severability
	  	 	169	 
	 SECTION 9.08.
	 	 Right of Setoff
	  	 	169	 
	 SECTION 9.09.
	 	 Governing Law; Jurisdiction; Etc.
	  	 	169	 

  
 -iii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 SECTION 9.10.
	 	 WAIVER OF JURY TRIAL
	  	 	170	 
	 SECTION 9.11.
	 	 Judgment Currency
	  	 	170	 
	 SECTION 9.12.
	 	 Headings
	  	 	171	 
	 SECTION 9.13.
	 	 Treatment of Certain Information; Confidentiality
	  	 	171	 
	 SECTION 9.14.
	 	 Certain Notices
	  	 	172	 
	 SECTION 9.15.
	 	 Acknowledgment and Consent to Bail-In of Affected Financial Institutions
	  	 	173	 
	 SECTION 9.16.
	 	 No Fiduciary Duty
	  	 	173	 
	 SECTION 9.17.
	 	 Acknowledgment Regarding Any Supported QFCs
	  	 	174	 
	 SECTION 9.18.
	 	 Termination
	  	 	174	 
	 SECTION 9.19.
	 	 Limited Recourse
	  	 	175	 
	 SECTION 9.20.
	 	 Interest Rate Limitation
	  	 	175	 
	 SECTION 9.21.
	 	 German Bank Separation Act
	  	 	175	 
	 SECTION 9.22.
	 	 Effect of Amendment and Restatement of the Existing Credit Agreement
	  	 	177	 

  
 -iv- 

 TABLE OF CONTENTS 

(continued) 
  

			
	SCHEDULES	  	
		
	 SCHEDULE I
	  	Commitments
	 SCHEDULE II
	  	Material Agreements; Liens
	 SCHEDULE III
	  	[Reserved]
	 SCHEDULE IV
	  	Subsidiaries; Investments
	 SCHEDULE V
	  	Transactions with Affiliates
	 SCHEDULE VI
	  	Industry Classification Groups
	 SCHEDULE VII
	  	Approved Dealer; Approved Pricing Services
	 SCHEDULE VIII
	  	Excluded Assets
	 SCHEDULE IX
	  	Swingline Lenders and Issuing Banks
	 SCHEDULE X
	  	Post-Closing Actions
		
	 EXHIBITS
	  	
		
	 EXHIBIT A
	  	Form of Assignment and Assumption
	 EXHIBIT B
	  	Form of Borrowing Base Certificate
	 EXHIBIT C
	  	Form of Borrowing Request
	 EXHIBIT D
	  	Form of Interest Election Request
	 EXHIBIT E
	  	Form of Promissory Note

  
 -v- 

 AMENDED AND RESTATED SENIOR SECURED REVOLVING CREDIT AGREEMENT dated as of August 26,
2022 (this “Agreement”), among OWL ROCK CAPITAL CORPORATION (the “Borrower”), the LENDERS and ISSUING BANKS party hereto, and TRUIST BANK, as Administrative Agent. 

Pursuant to the Senior Secured Revolving Credit Agreement dated as of February 1, 2017 (as amended, supplemented or otherwise modified
prior to the Effective Date, the “Existing Credit Agreement”), among the Borrower, the lenders and issuing banks party thereto (collectively, the “Existing Lenders”) and the Administrative Agent, the Existing
Lenders agreed to make extensions of credit to the Borrower on the terms and conditions set forth therein, including making loans (the “Existing Loans”) to the Borrower. 

The Borrower has requested that the Existing Credit Agreement be amended and restated in its entirety to become effective and binding on the
Borrower pursuant to the terms of this Agreement, and the Lenders and Issuing Banks (including the Existing Lenders party hereto) have agreed (subject to the terms of this Agreement) to amend and restate the Existing Credit Agreement in its entirety
to read as set forth in this Agreement, and it has been agreed by the parties to the Existing Credit Agreement that (a) the commitments which the Existing Lenders have agreed to extend to the Borrower under the Existing Credit Agreement shall
be extended or advanced upon the amended and restated terms and conditions contained in this Agreement; and (b) subject to Section 2.12(g), the Existing Loans and other obligations outstanding under the Existing Credit Agreement shall be
governed by and deemed to be outstanding under the amended and restated terms and conditions contained in this Agreement on and after the date hereof, with the intent that the terms of this Agreement shall supersede the terms of the Existing Credit
Agreement (each of which shall hereafter have no further effect upon the parties thereto, other than for accrued and unpaid fees and expenses, and indemnification provisions accrued and owing, under the terms of the Existing Credit Agreement on or
prior to the Effective Date or arising (in the case of indemnification) under the terms of the Existing Credit Agreement). 
 The parties
hereto hereby agree to amend and restate the Existing Credit Agreement, and the Existing Credit Agreement is hereby amended and restated in its entirety as follows: 

ARTICLE I  

DEFINITIONS 

SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 

“2024 Notes” means the Borrower’s $400,000,000 aggregate principal amount notes due April 15, 2024 issued in April
2019. 
 “2025 July Notes” means the Borrower’s $500,000,000 aggregate principal amount notes due July 22, 2025
issued in January 2020. 
 “2025 March Notes” means the Borrower’s $425,000,000 aggregate principal amount notes due
March 30, 2025 issued in October 2019. 

 “2026 January Notes” means the Borrower’s $500,000,000 aggregate
principal amount notes due January 15, 2026 issued in July 2020. 
 “2026 July Notes” means the Borrower’s
$1,000,000,000 aggregate principal amount notes due July 15, 2026 issued in December 2020. 
 “2027 Notes” means the
Borrower’s $500,000,000 aggregate principal amount notes due January 15, 2027 issued in April 2021. 
 “ABR”,
when used in reference to any Loan or Borrowing, refers to whether such Loan is, or the Loans constituting such Borrowing are, denominated in Dollars and bearing interest at a rate determined by reference to the Alternate Base Rate. 

“Adjusted Covered Debt Balance” means, on any date, the aggregate Covered Debt Amount on such date minus the aggregate
amount of Cash and Cash Equivalents included in the Portfolio Investments held by the Obligors (provided that Cash Collateral for outstanding Letters of Credit shall not be treated as a portion of the Portfolio Investments). 

“Adjusted EURIBO Rate” means with respect to any Term Benchmark Borrowing denominated in Euro for any Interest Period, an
interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1.00%) equal to the product of (a) the EURIBO Rate for Euros for such Interest Period multiplied by (b) the Statutory Reserve Rate; provided, that, if the
Adjusted EURIBO Rate shall be less than zero (0.00%), such rate shall be deemed to be zero (0.00%) for purposes of this Agreement. 

“Adjusted Gross Borrowing Base” means (i) the Gross Borrowing Base plus (ii) the amount of any cash held in any
“collection” (or similar) account of any Excluded Asset that is a “collateralized loan obligation” (a “CLO”) or is otherwise subject to a third-party financing whereby a trustee or similar third party administers
the “collection” (or similar) account and periodic “waterfall” payments therefrom, in each case, that is reflected on a “payment date schedule” or similar distribution statement (in each case, which may be a draft so
long as the amount to be distributed has been finalized) to be irrevocably distributed (subject only to the lapse of time for a period not to exceed thirty (30) days from the date of such schedule or statement), directly or indirectly, to an
Obligor on the next payment date or similar distribution date for such CLO or Excluded Asset. 
 “Administrative Agent”
means Truist Bank, in its capacity as administrative agent for the Lenders hereunder. 
 “Administrative Agent’s
Account” means, for each Currency, an account in respect of such Currency designated by the Administrative Agent in a notice to the Borrower and the Lenders. 

“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent. 

“Advance Rate” has the meaning assigned to such term in Section 5.13. 

  
 2 

 “Advisor” means any Affiliate of Blue Owl Capital Inc. that is organized
under the laws of a jurisdiction located in the United States of America and in the business of managing or advising clients, which, as of the Effective Date, is Owl Rock Capital Advisors LLC. 

“Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution. 

“Affiliate” means, with respect to a specified Person at any time, another Person that at such time directly, or indirectly
through one (1) or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified at such time. Anything herein to the contrary notwithstanding, the term “Affiliate” shall not include any Person
that constitutes an Investment held by such specified Person in the ordinary course of business. 
 “Affiliate Agreements”
means collectively, (a) the Third Amended and Restated Investment Advisory Agreement, dated as of May 18, 2021, by and between the Borrower and the Advisor, (b) the Amended and Restated Administration Agreement, dated as of
May 18, 2021, by and between the Borrower and the Advisor, and (c) the License Agreement, dated as of March 1, 2016, by and between the Borrower and Owl Rock Capital Partners LP. 

“Agreed Foreign Currency” means, at any time, any of CAD, GBP, EUR, AUD, JPY, CHF, SEK and NZD, and, with the agreement of
each Multicurrency Lender and Multicurrency Issuing Bank, any other Foreign Currency, so long as, in respect of any such specified Foreign Currency or other Foreign Currency, at such time (a) such Foreign Currency is dealt with in the relevant
local market for obtaining quotations, and (b) no central bank or other governmental authorization in the country of issue of such Foreign Currency (including, in the case of the Euro, any authorization by the European Central Bank) is required
to permit use of such Foreign Currency by any Multicurrency Lender for making any Revolving Loan hereunder or to permit any Issuing Bank to issue (or to make payment under) any Letter of Credit denominated in such Foreign Currency and/or to permit
the Borrower to borrow and repay the principal thereof and to pay the interest thereon (or to repay any LC Disbursement under a Letter of Credit denominated in such Foreign Currency), unless such authorization has been obtained and is in full force
and effect. 
 “Alternate 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 1.00% and (c) the rate per annum equal to Term SOFR for an interest period of one (1) month plus 1.00%. Notwithstanding the foregoing, if
the Alternate Base Rate, determined as set forth above, shall be less than 1.00%, such rate shall be deemed to be 1.00% for purposes of this Agreement. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds
Effective Rate or Term SOFR (or successor therefore) shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or Term SOFR (or successor therefore), respectively. If for any reason
the Administrative Agent shall have determined (which determination shall be conclusive absent manifest error) that it is unable to ascertain the Federal Funds Effective Rate for any reason, including the inability or failure of the Administrative
Agent to obtain a quotation in accordance with the terms thereof, the Alternate Base Rate shall be determined without regard to clause (b) of the first sentence of this definition until the circumstances giving rise to such inability no longer
exist. If the Alternate Base Rate is being used as an alternate rate of interest pursuant to Section 2.14, then the Alternate Base Rate shall be determined without reference to clause (c) above. 

  
 3 

 “Anti-Corruption Laws” means all laws, rules, and regulations of any
jurisdiction applicable to the Borrower or its Subsidiaries from time to time concerning or relating to money laundering, bribery or corruption. 

“Applicable Currencies” means Dollars and each Agreed Foreign Currency. 

“Applicable Dollar Percentage” means, with respect to any Dollar Lender, the percentage of the total Dollar Commitments
represented by such Lender’s Dollar Commitment. If the Dollar Commitments have terminated or expired, the Applicable Dollar Percentages shall be determined based upon the Dollar Commitments most recently in effect, giving effect to any
assignments; provided that, for the avoidance of doubt, on and after the Non-Extended Commitment Termination Date for any Non-Extending Lender, the Applicable Dollar Percentage of such Non-Extending Lender that is a Dollar Lender shall be 0%.

 “Applicable Margin” means (i) in the case of any Extending Lender, the Extending Lender Applicable Margin or
(ii) in the case of any Non-Extending Lender, the Non-Extending Lender Applicable Margin for such Non-Extending Lender. 

“Applicable Multicurrency Percentage” means, with respect to any Multicurrency Lender, the percentage of the total
Multicurrency Commitments represented by such Lender’s Multicurrency Commitment. If the Multicurrency Commitments have terminated or expired, the Applicable Multicurrency Percentages shall be determined based upon the Multicurrency Commitments
most recently in effect, giving effect to any assignments; provided that, for the avoidance of doubt, on and after the Non-Extended Commitment Termination Date for any Non-Extending Lender that is a Multicurrency Lender, the Applicable
Multicurrency Percentage of such Non-Extending Lender shall be 0%. 
 “Applicable Percentage” means, with respect to any
Lender, the percentage of the total Revolving Commitments of such Lender. If the Revolving Commitments have terminated or expired, the Applicable Percentages previously based on such Revolving Commitments shall be determined based upon the existing
Revolving Credit Exposure; provided that, for the avoidance of doubt, on and after the Non-Extended Commitment Termination Date for any Non-Extending Lender, the Applicable Percentage of such Non-Extending Lender shall be 0%. 

“Approved Dealer” means (a) in the case of any Portfolio Investment that is not a U.S. Government Security, a bank or a
broker-dealer registered under the Securities Exchange Act of 1934 of nationally recognized standing or an Affiliate thereof, (b) in the case of a U.S. Government Security, any primary dealer in U.S. Government Securities, and (c) in the
case of any foreign Portfolio Investment, any foreign broker-dealer of internationally recognized standing or an Affiliate thereof, in the case of each of clauses (a), (b) and (c) above, as set forth on Schedule VII or any other
bank or broker-dealer acceptable to the Administrative Agent in its reasonable determination. 

  
 4 

 “Approved Pricing Service” means a pricing or quotation service as set
forth in Schedule VII or any other pricing or quotation service approved by the Advisor (so long as it has the necessary delegated authority) or the board of directors (or the appropriate committee thereof with the necessary delegated
authority) of the Borrower and designated in writing to the Administrative Agent (which designation, if approved by the board of directors of the Borrower, shall be accompanied by a copy of a resolution of the board of directors of the Borrower (or
the appropriate committee thereof with the necessary delegated authority) that such pricing or quotation service has been approved by the Borrower). 

“Approved Third-Party Appraiser” means each of (a) Murray, Devine & Co., (b) Houlihan Lokey
Howard & Zukin Inc., (c) Lincoln International LLC (formerly known as Lincoln Partners LLC), (d) Duff & Phelps Corporation, (e) Valuation Research Corporation, (f) Alvarez & Marsal and (g) any
other third party appraiser selected by the Borrower in its reasonable discretion. 
 “Asset Coverage Ratio” means the
ratio, determined on a consolidated basis, without duplication, in accordance with GAAP, of (a) the value of total assets of the Borrower and its Subsidiaries, less all liabilities and indebtedness not represented by Senior Securities, to
(b) the aggregate amount of Senior Securities representing indebtedness in each case, of the Borrower and its Subsidiaries (all as determined pursuant to the Investment Company Act and any orders, declarations, opinions, relief or letters
issued by the SEC or any other government or regulatory authority, in each case as of the Effective Date, but excluding the effects of SEC Release No. 33837/April 8, 2020)). The calculation of the Asset Coverage Ratio shall be made in
accordance with any exemptive relief or order granted or issued by the SEC with respect to the Indebtedness of any SBIC Subsidiary from the definition of Senior Securities only so long as (a) such order is in effect, and (b) no obligations
have become due and owing pursuant to the terms of any Permitted SBIC Guarantee to which the Borrower or any other Obligor is a party. The outstanding utilized notional amount of any Credit Default Swap where an Obligor is a protection seller, in
each case, less the value of the margin posted by the Borrower or any of its Subsidiaries thereunder at such time shall be treated as a Senior Security of the Borrower for the purposes of calculating the Asset Coverage Ratio. 

“Assignment and Assumption” means an Assignment and Assumption entered into by a Lender and an assignee (with the consent of
any party whose consent is required by Section 9.04), and accepted by the Administrative Agent, in the form of Exhibit A or such other form as is reasonably acceptable to the Administrative Agent and the Borrower. 

“Assuming Lender” has the meaning assigned to such term in Section 2.08(e). 

“AUD” and “A$” denote the lawful currency of The Commonwealth of Australia. 

“AUD Rate” means, with respect to any Interest Period, the sum of (a) the average bid reference rate administered by the
Australian Financial Markets Association (or any other Person that takes over the administration of such rate) for AUD bills of exchange with a tenor equal in length to such Interest Period as displayed on page BBSY of the Bloomberg screen (or, in
the event such rate does not appear on such Bloomberg page, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate as shall be selected by the
Administrative Agent from time to time in its reasonable discretion) at or about 11:00 a.m. (Sydney, Australia time) on the first day of such Interest Period (the “AUD Screen Rate”) plus (b) 0.20%. If the AUD Screen Rate shall
be less than zero (0.00%), the AUD Screen Rate shall be deemed to be zero (0.00%) for purposes of this Agreement. 

  
 5 

 “AUD Screen Rate” has the meaning specified in the definition of “AUD
Rate”. 
 “Availability Period” means (a) in the case of any Extending Lender (with respect to such Extending
Lender’s Revolving Commitments), the Extended Availability Period or (b) in the case of any Non-Extending Lender (with respect to such Non-Extending Lender’s Revolving Commitments), the Non-Extended Availability Period for such
Non-Extending Lender. 
 “Available Tenor” means, as of any date of determination and with respect to the then-current
Benchmark for any Applicable Currency, as applicable, (x) if such Benchmark is a term rate, any tenor for such Benchmark (or component thereof) that is or may be used for determining the length of an interest period pursuant to this Agreement
or (y) otherwise, any payment period for interest calculated with reference to such Benchmark (or component thereof) that is or may be used for determining any frequency of making payments of interest calculated with reference to such Benchmark
pursuant to this Agreement, in each case, as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of “Interest Period” pursuant to Section 2.13(e). 

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

“Base Rate Term SOFR Determination Day” has the meaning set forth in the definition of “Term SOFR”. 

“Basel III” means the agreements on capital requirements, leverage ratio and liquidity standards contained in
“Basel III: A global regulatory framework for more resilient banks and banking systems”, “Basel III: International framework for liquidity risk measurement, standards and monitoring” and “Guidance for national
authorities operating the countercyclical capital buffer” published by the Basel Committee on Banking Supervision on 16 December 2010, each as amended, supplemented or restated. 

“Benchmark” means, initially, with respect to any Loans denominated in (a) Dollars, the Term SOFR Reference Rate,
(b) GBP or CHF, the Daily Simple RFR for such Currency, and (c) any other Applicable Currency, the Relevant Rate for such Currency; provided that if a Benchmark Transition Event and its related Benchmark Replacement Date has
occurred with respect to the Term SOFR Reference Rate, the Daily Simple RFR or such Relevant Rate, as applicable, then “Benchmark” shall mean the applicable Benchmark Replacement for such Applicable Currency to the extent that such
Benchmark Replacement has replaced such prior benchmark rate pursuant to Section 2.13(b). 

  
 6 

 “Benchmark Replacement” means, with respect to any Benchmark Transition
Event for any then-current Benchmark, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date; provided that, other than in the case of the Term SOFR
Reference Rate, such alternative shall be the alternative set forth in clause (2) below: 
 (1) the sum of: (a) Daily Simple SOFR
and (b) 0.15%; and 
 (2) the sum of: (a) the alternate benchmark rate that has been selected by the Administrative Agent and the
Borrower as the replacement for the then-current Benchmark for the Applicable Currency giving due consideration to (i) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant
Governmental Body or (ii) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement for the then-current Benchmark for syndicated credit facilities denominated in the Applicable Currency at such time
and (b) the related Benchmark Replacement Adjustment. 
 If the Benchmark Replacement as determined pursuant to clause (1) or
(2) above would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents. 

“Benchmark Replacement Adjustment” means, with respect to any replacement of the then current Benchmark for an Applicable
Currency with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement, the spread adjustment, or method for calculating or determining such spread adjustment
(which may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrower for the Applicable Currency giving due consideration to (i) any selection or recommendation of a spread adjustment, or
method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body 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 Benchmark with the applicable Unadjusted Benchmark Replacement for
syndicated credit facilities denominated in the Applicable Currency in the U.S. syndicated loan market at such time. 
 “Benchmark
Replacement Date” means, (x) with respect to any Benchmark (other than the Term SOFR Reference Rate), the earliest to occur of the following events with respect to such then-current Benchmark and (y) with respect to the Term SOFR
Reference Rate, a date and time determined by the Administrative Agent in its reasonable discretion, which date shall be no later than the earliest to occur of the following events with respect to such then-current Benchmark: 

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

  
 7 

 (2) in the case of clause (3) of the definition of “Benchmark Transition
Event,” first date on which such Benchmark (or the published component used in the calculation thereof) has been determined and announced by the regulatory supervisor for the administrator of such Benchmark (or such component thereof) to be
non-representative; provided that such non-representativeness will be determined by reference to the most recent statement or publication referenced in such clause (3) and even if any Available Tenor of such Benchmark (or such component
thereof) continues to be provided on such date. 
 For the avoidance of doubt, the “Benchmark Replacement Date” will be deemed to
have occurred in the case of clause (1) or (2) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published
component used in the calculation thereof). 
 “Benchmark Transition Event” means, with respect to any then-current
Benchmark, the occurrence of one or more of the following events with respect to such Benchmark: 
 (1) a public statement or publication of
information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such
component thereof), permanently or indefinitely; provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof);

 (2) a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the
published component used in the calculation thereof), including the Board or the NYFRB, as applicable, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction
over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), which states that the administrator of such
Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely; provided that, at the time of such statement or publication, there is no
successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or 
 (3) a public
statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component
thereof) are not, or as of a specified future date will not be, representative. 
 For the avoidance of doubt, a “Benchmark Transition
Event” will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published
component used in the calculation thereof). 

  
 8 

 “Benchmark Unavailability Period” means, with respect to any then-current
Benchmark, the period (if any) (x) beginning at the time that a Benchmark Replacement Date has occurred if, at such time, no Benchmark Replacement has replaced such then-current Benchmark for all purposes hereunder and under any Loan Document
in accordance with Section 2.13 and (y) ending at the time that a Benchmark Replacement has replaced such then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with Section 2.13. 

“Beneficial Ownership Certification” means, for a “legal entity customer” (as such term is defined in the
Beneficial Ownership Regulation), a certification regarding beneficial ownership or control to the extent required by the Beneficial Ownership Regulation. 

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

“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in Section 3(3) of ERISA) that is
subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code to which Section 4975 of the Code applies, and (c) any Person whose assets include (for purposes of the Plan Asset Regulations or
otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”. 

“BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance
with, 12 U.S.C. 1841(k)) of such party. 
 “BKBM Rate” means, with respect to any Interest Period, the sum of (i) rate
per annum equal to the Bank Bill Reference Bid Rate or a successor thereto approved by the Administrative Agent (“BKBM”) as published by Reuters (or such other page or commercially available source providing BKBM (Bid) quotations as
may be designated by the Administrative Agent from time to time in its reasonable discretion) at or about 10:45 a.m. (Auckland, New Zealand time) on the day that is two Term Benchmark Banking Days for NZD prior to the first day of the
Interest Period (or if such day is not a Term Benchmark Banking Days for NZD, then on the immediately preceding Term Benchmark Banking Days for NZD) with a term equivalent to such Interest Period (the “BKBM Screen
Rate”) plus (ii) 0.20%. If the BKBM Screen Rate shall be less than zero (0.00%), the BKBM Screen Rate shall be deemed to be zero (0.00%) for purposes of this Agreement. 

“BKBM Screen Rate” has the meaning assigned to such term in the definition of “BKBM Rate”. 

“Board” means the Board of Governors of the Federal Reserve System of the United States of America. 

“Borrower” has the meaning assigned to such term in the preamble of this Agreement. 

“Borrowing” means (a) all ABR Loans of the same Class and Type made, converted or continued on the same date,
(b) all Term Benchmark Loans of the same Class and Type denominated in the same Currency that have the same Interest Period, (c) all RFR Loans of the same Class and Type denominated in the same Currency, (d) a Pro-Rata Borrowing
and/or (e) a Swingline Loan, as applicable. 

  
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 “Borrowing Base” has the meaning assigned to such term in
Section 5.13. 
 “Borrowing Base Certificate” means a certificate of a Financial Officer of the Borrower,
substantially in the form of Exhibit B or such other form as is reasonably acceptable to the Administrative Agent and appropriately completed. 

“Borrowing Base Deficiency” means, at any date on which the same is determined, the amount, if any, that (a) the
aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date. 
 “Borrowing Request”
means a request by the Borrower for a Borrowing in accordance with Section 2.03 substantially in the form of Exhibit C or such other form as is reasonably acceptable to the Administrative Agent. 

“Borrowing Value” means, as of any date, the sum of the products obtained by multiplying (i) the Value of each Portfolio
Investment in the Borrowing Base and (ii) the applicable Advance Rate for such Portfolio Investment. With respect to any limitation set forth in Section 5.13 that is based on Borrowing Value, such Borrowing Value shall be determined after
giving effect to the portfolio limitations and valuation criteria specified in Section 5.13 (other than any adjustment required pursuant to paragraphs (d), (e), (h) and (i) thereof). For the avoidance of doubt, (a) to avoid
double-counting of excess concentrations, any Advance Rate reductions set forth in Section 5.13 shall be without duplication of any other such Advance Rate reductions and (b) to the extent the Borrowing Value is required to be reduced to
comply with Section 5.13, the Borrower shall be permitted to choose the Portfolio Investments to be excluded from the Borrowing Value to effect such reduction. 

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are
authorized or required by law to remain closed; provided that (a) when used in relation to Term Benchmark Loans or any interest rate settings, fundings, disbursements, settlements or payments of any such Term Benchmark Loan, or any other
dealings in the applicable Currency of such Term Benchmark Loan, the term “Business Day” shall also exclude any day that is not a Term Benchmark Banking Day for such Currency and (b) when used in relation to RFR Loans or any interest
rate settings, fundings, disbursements, settlements or payments of any such RFR Loan, or any other dealings in the Applicable Currency of such RFR Loan, the term “Business Day” shall also exclude any day that is not a RFR Business Day for
such Currency. 
 “CAD” and “C$” denote the lawful currency of Canada. 

“CAD Screen Rate” has the meaning assigned to such term in the definition of “CDO Rate”. 

  
 10 

 “Calculation Amount” means, as of the end of any Testing Period, an amount
equal to the greater of: (a) (i) 125% of the Adjusted Covered Debt Balance (as of the end of such Testing Period) minus (ii) the aggregate Value of all Quoted Investments included in the Borrowing Base (as of the end of such
Testing Period) and (b) 10% of the aggregate Value of all Unquoted Investments included in the Borrowing Base (as of the end of such Testing Period); provided that in no event shall more than 25% (or, if clause (b) applies,
10%, or as near thereto as reasonably practicable) of the aggregate Value of the Unquoted Investments in the Borrowing Base be tested in respect of any applicable Testing Period. 

“Canadian Prime Rate” means, on any day, the rate determined by the Administrative Agent to be the higher of (i) the
rate equal to the PRIMCAN Index rate that appears on the Bloomberg screen at 10:15 a.m. Toronto time on such day (or, in the event that the PRIMCAN Index is not published by Bloomberg, any other information services that publishes such index from
time to time, as selected by the Administrative Agent in its reasonable discretion) and (ii) the average rate for thirty (30) day Canadian Dollar bankers’ acceptances that appears on the Reuters Screen CDOR Page (or, in the event such
rate does not appear on such page or screen, on any successor or substitute page or screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time, as selected by the
Administrative Agent in its reasonable discretion) at 10:15 a.m. Toronto time on such day, plus 1% per annum; provided, that if any of the above rates shall be less than 1%, such rate shall be deemed to be 1% for purposes of this
Agreement. Any change in the Canadian Prime Rate due to a change in the PRIMCAN Index or CDOR shall be effective from and including the effective date of such change in the PRIMCAN Index or CDOR, respectively. 

“Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease
of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the
amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. Notwithstanding any other provision contained herein, any change in GAAP after December 15, 2018 that would require an operating lease to be
treated similar to a capital lease shall not be given effect hereunder. 
 “Cash” means any immediately available funds in
Dollars or in any currency other than Dollars which is a freely convertible currency. 
 “Cash Equivalents” means
investments (other than Cash) that are one (1) or more of the following obligations: 
 (a) U.S. Government Securities, in each case
maturing within one (1) year from the date of acquisition thereof; 
 (b) investments in commercial paper or other short-term corporate
obligations maturing within two hundred seventy (270) days from the date of acquisition thereof and having, at such date of acquisition, a credit rating of at least A-1 from S&P and at least P-1 from Moody’s (or if only one of S&P
or Moody’s provides such rating, such investment shall also have an equivalent credit rating from any other rating agency); 

  
 11 

 (c) investments in certificates of deposit, banker’s acceptances and time deposits
maturing within one hundred eighty (180) days from the date of acquisition thereof (i) issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any commercial bank organized
under the laws of the United States of America or any State thereof or under the laws of the jurisdiction or any constituent jurisdiction thereof of any Agreed Foreign Currency, provided that such certificates of deposit, banker’s
acceptances and time deposits are held in a securities account (as defined in the Uniform Commercial Code) through which the Collateral Agent can perfect a security interest therein and (ii) having, at such date of acquisition, a credit rating
of at least A-1 from S&P and at least P-1 from Moody’s (or if only one of S&P or Moody’s provides such rating, such investment shall also have an equivalent credit rating from any other rating agency); 

(d) fully collateralized repurchase agreements with a term of not more than thirty (30) days from the date of acquisition thereof for
U.S. Government Securities and entered into with (i) a financial institution satisfying the criteria described in clause (c) of this definition or (ii) an Approved Dealer having (or being a member of a consolidated group having) at
such date of acquisition, a credit rating of at least A-1 from S&P and at least P-1 from Moody’s (or if only one of S&P or Moody’s provides such rating, such Approved Dealer shall also have an equivalent credit rating from any
other rating agency); 
 (e) money market funds that invest and which are restricted by their respective charters to invest, substantially
all of their assets in investments of the type described in the immediately preceding clauses (a) through (d) above (including as to credit quality and maturity); 

(f) a Reinvestment Agreement; 

(g) money market funds that have, at all times, credit ratings of “Aaa” and “MR1+” by Moody’s and “AAAm” or
“Aam-G” by S&P, respectively; and 
 (h) any of the following offered by the Custodian (or any successor custodian or other
entity acting in a similar capacity with respect to the Borrower) (I) money market deposit accounts, (II) eurodollar time deposits, (III) commercial eurodollar sweep services or (IV) open commercial paper services, in each case having, at such
date of acquisition, a credit rating of at least A-1 from S&P and at least P-1 from Moody’s and maturing not later than two hundred seventy (270) days from the date of acquisition thereof; 

provided, that (i) in no event shall Cash Equivalents include any obligation that provides for the payment of interest alone (for example,
interest-only securities or “IOs”); (ii) if any of Moody’s or S&P changes its rating system, then any ratings included in this definition shall be deemed to be an equivalent rating in a successor rating category of
Moody’s or S&P, as the case may be; (iii) Cash Equivalents (other than U.S. Government Securities, certificates of deposit, repurchase agreements or the money market funds described in clause (e) of this definition of “Cash
Equivalents”) shall not include any such investment representing more than 10% of total assets of the Obligors in any single issuer; and (iv) in no event shall Cash Equivalents include any obligation that is not denominated in Dollars or
an Agreed Foreign Currency. 
 “CDO Rate” means, on any day, the annual rate of interest that is the rate based on an
average rate applicable to CAD bankers’ acceptances for a term equal to the term of the relevant Interest Period appearing on the applicable Bloomberg screen page at approximately 10:00 a.m.

  
 12 

 
(Toronto time), on such date, or if such date is not a Business Day, on the immediately preceding Business Day (the “CAD Screen Rate”); provided that if such rate does not
appear on the Bloomberg Screen CDOR Page on such date as contemplated, then the CDO Rate on such date shall be the average rate that would be applicable to Canadian Dollar bankers’ acceptances for a term equal to the term of the relevant
Interest Period quoted by the Administrative Agent at its principal office in Toronto, Ontario (or such other office selected by the Administrative Agent in which its Canadian lending operations are conducted) as of 10:00 a.m. (Toronto time) on
such date or, if such date is not a Business Day, on the immediately preceding Business Day; provided further that, if such rate shall be less than zero (0.00%), such rate shall be deemed to be zero (0.00%). 

“Central Bank Rate” means the greater of (A) the sum of (i) for any Loan denominated in (x) GBP, the Bank of
England (or any successor thereto)’s “Bank Rate” as published by the Bank of England (or any successor thereto) from time to time, (y) Euro, one of the following three rates as may be selected by the Administrative Agent in its
reasonable discretion: (1) the fixed rate for the main refinancing operations of the European Central Bank (or any successor thereto), or, if that rate is not published, the minimum bid rate for the main refinancing operations of the European
Central Bank (or any successor thereto), each as published by the European Central Bank (or any successor thereto) from time to time, (2) the rate for the marginal lending facility of the European Central Bank (or any successor thereto), as
published by the European Central Bank (or any successor thereto) from time to time or (3) the rate for the deposit facility of the central banking system of the Participating Member States, as published by the European Central Bank (or any
successor thereto) from time to time or (z) any other Agreed Foreign Currency, a central bank rate as determined by the Administrative Agent in its reasonable discretion; plus (ii) the applicable Central Bank Rate Adjustment and
(B) 0%. 
 “Central Bank Rate Adjustment” means, for any date, for any Loan denominated in (A) GBP, a rate equal
to the difference (which may be a positive or negative value or zero) of (i) the average of SONIA for the five most recent RFR Business Days preceding such day for which SONIA was available (excluding, from such averaging, the highest and the
lowest SONIA applicable during such period of five RFR Business Days) minus (ii) the Central Bank Rate in respect of GBP in effect on the last RFR Business Day in such period, (B) Euros, a rate equal to the difference (which may be a
positive or negative value or zero) of (i) the average of the EURIBO Rate for the five most recent Term Benchmark Banking Days for Euro preceding such day for which the EURIBO Screen Rate was available (excluding, from such averaging, the
highest and the lowest EURIBO Screen Rate applicable during such period of five Term Benchmark Banking Days for Euro) minus (ii) the Central Bank Rate in respect of Euro in effect on the last Term Benchmark Banking Day for Euro in such period
and (C) any other Agreed Foreign Currency, a Central Bank Rate Adjustment as determined by the Administrative Agent in its reasonable discretion. For the purposes of this definition, (x) the term “Central Bank Rate” shall be
determined disregarding clause (A)(ii) of the definition of such term and (y) each of the EURIBO Rate on any day shall be based on the EURIBO Screen Rate, on such day at approximately the time referred to in the definition of such term for
deposits in the applicable Foreign Currency for a maturity of one month. 
 “Change in Control” means the Advisor ceases to
be the investment advisor for the Borrower. 

  
 13 

 “Change in Law” means (a) the adoption of any law, rule or regulation
after the Effective Date, (b) any change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the Effective Date or (c) compliance by any Lender or any Issuing Bank (or, for
purposes of Section 2.14(b), by any lending office of such Lender or by such Lender’s or such Issuing Bank’s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any
Governmental Authority made or issued after the Effective Date; provided that, notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines,
requirements or directives thereunder or issued in connection therewith or in implementation thereof and (ii) all requests, rules, guidelines, requirements or directives promulgated by the Bank for International Settlements, the Basel Committee
on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date
enacted, adopted or issued. 
 “CHF” denotes the lawful currency of Switzerland. 

“Class”, when used in reference to any Loan or Borrowing, refers to in the case of a Revolving Loan, whether such Loan is a,
or the Loans constituting such Borrowing are, Dollar Loan(s), Multicurrency Loan(s) or Swingline Loan(s), as applicable; in the case of any Revolving Lender’s (i) Class of Commitment, whether such Lender is a Dollar Lender or a
Multicurrency Lender and (ii) Class of Maturity Date, whether such Lender is an Extending Lender or a Non-Extending Lender; and, when used in reference to any Commitment, refers to whether such Commitment is a Dollar Commitment or a
Multicurrency Commitment and, when used in reference to any LC Exposure, refers to whether such LC Exposure is a Dollar LC Exposure or a Multicurrency LC Exposure. 

“CLO Securities” means debt securities, mezzanine securities, equity securities, residual interests or composite or
combination securities (i.e. securities consisting of a combination of debt and equity securities that are issued in effect as a unit) including synthetic securities that provide synthetic credit exposure to debt securities, mezzanine securities,
equity securities, residual interests or composite or combination securities (or other investments, including any interests held to comply with applicable risk retention requirements, that similarly represent an investment in underlying pools of
leveraged portfolios), that, in each case, entitle the holders thereof to receive payments that (i) depend on the cash flow from a portfolio consisting primarily of ownership interests in debt securities, corporate loans or asset-backed
securities or (ii) are subject to losses owing to credit events (howsoever defined) under credit derivative transactions with respect to debt securities, corporate loans or asset-backed securities. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time. 

“Collateral” has the meaning assigned to such term in the Guarantee and Security Agreement. 

“Collateral Agent” means Truist Bank in its capacity as Collateral Agent under the Guarantee and Security Agreement, and
includes any successor Collateral Agent thereunder. 

  
 14 

 “Collateral Pool” means, at any time, each Portfolio Investment that has
been Delivered (as defined in the Guarantee and Security Agreement) to the Collateral Agent and is subject to the Lien of the Guarantee and Security Agreement, and then only for so long as such Portfolio Investment continues to be Delivered as
contemplated therein and in which the Collateral Agent has a first-priority perfected Lien as security for the Secured Obligations (subject to any Lien permitted by Section 6.02 hereof with respect to such Portfolio Investment), provided
that in the case of any Portfolio Investment in which the Collateral Agent has a first-priority perfected (subject to Permitted Liens under clause (g) of the definition thereof) security interest pursuant to a valid Uniform Commercial Code
filing, such Portfolio Investment may be included in the Collateral Pool so long as all remaining actions to complete “Delivery” are satisfied in full within the longest period of (i) seven (7) days of such inclusion and
(ii) as the Collateral Agent may agree in its reasonable discretion. 
 “Combined Debt Amount” means, as of any date,
(i) the aggregate principal amount of Revolving Commitments as of such date (or, if greater, the Revolving Credit Exposures of all Lenders as of such date) plus (ii) [reserved] plus (iii) the aggregate principal amount of outstanding
Designated Indebtedness and, without duplication, unused Designated Indebtedness Commitments (as defined in the Guarantee and Security Agreement) that have not expired or been terminated. 

“Commitment” means, collectively, the Revolving Commitments. 

“Commitment Increase” has the meaning assigned to such term in Section 2.08(e). 

“Commitment Increase Date” has the meaning assigned to such term in Section 2.08(e). 

“Commitment Termination Date” means the Extended Commitment Termination Date or the relevant Non-Extended Commitment
Termination Date, as applicable. 
 “Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1
et seq.), as amended from time to time, and any successor statute. 
 “Concurrent Transactions” means, with respect to any
proposed action or transaction hereunder, (a) any acquisition or sale of Portfolio Investments or other property or assets, (b) any payment of outstanding Loans, cash collateralization of Letters of Credit as contemplated by
Section 2.04(l), or payment of other Indebtedness that is included in the Covered Debt Amount, (c) any return of capital or other distribution or receipt of cash from any Investment, (d) any incurrence of Indebtedness and the use of
proceeds thereof, (e) any sale of Equity Interests of the Borrower, and (f) any pro forma adjustments related to any of the actions or transactions described in the foregoing clauses (a) through (e), in each case, (x) that occurs
substantially simultaneously with (and in any event within twenty-four (24) hours of) such proposed action or transaction and (y) is evidenced by a current Borrowing Base Certificate delivered by the Borrower (which may include any
activities permitted to be included under clause (x) above). 
 “Conforming Changes” means with respect to the use,
administration, adoption or implementation of any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Relevant Rate”, the definition of “Term Benchmark Rate”, the
definition of “Alternate Base Rate”, the definition of “Business Day”, the definition of “Term Benchmark Banking Day”, the definition of “U.S. Government Securities

  
 15 

 
Business Day”, the definition of “Interest Period”, the definition of “Daily Simple RFR”, the definition of “RFR”, the definition of “RFR Business
Day”, the definition of “RFR Interest Day”, the definition of “RFR Reference Day”, the definition of or any similar or analogous definition, timing and frequency of determining rates and making payments of interest, timing
and borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of Section 2.15 and other technical, administrative or operational matters) that the Administrative
Agent (after consultation with the Borrower) decides in its reasonable discretion may be appropriate or reflect the adoption and implementation of any such rate or to permit the use and administration thereof by the Administrative Agent in a manner
substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent (after consultation with the Borrower)
determines that no market practice for the administration of any such rate exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement and the
other Loan Documents). 
 “Consolidated Group” has the meaning assigned to such term in Section 5.13(a). 

“Contingent Borrowing Base Deficiency” means, at any time that any Contingent Secured Indebtedness is outstanding, if the
inclusion of all such Contingent Secured Indebtedness and the Portfolio Investments subject to the underlying repurchase transactions in the Covered Debt Amount and the Borrowing Base, respectively, would result in a Borrowing Base Deficiency. 

“Contingent Secured Indebtedness” means, on any date, Indebtedness of an Obligor (which may be guaranteed by one or more
other Obligors) that (a) is incurred pursuant to one or more repurchase arrangements, (b) has a maturity at issuance of no more than 180 days (or, in the case of any renewal or extension thereof, 180 days after the then-current expiration
date of such Contingent Secured Indebtedness) and (c) is not secured by any Collateral (other than by (x) any Portfolio Investment to the extent otherwise permitted to be transferred to an Excluded Asset hereunder, (y) the
participation interest such Obligor sells in the underlying asset for such repurchase agreement(s) or (z) any note or security issued by a Subsidiary of an Obligor that such Obligor sells or purports to sell, which economically represents the
underlying asset for such repurchase agreement). 
 “Control” means the possession, directly or indirectly, of the power to
direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative
thereto. 
 “Controlled Foreign Corporation” means any Subsidiary which is (i) a “controlled foreign
corporation” (within the meaning of Section 957 of the Code), (ii) a subsidiary substantially all the assets of which consist of debt or equity in Subsidiaries described in clause (i) of this definition, or (iii) an
entity treated as disregarded for U.S. federal income tax purposes that owns more than 65% of the voting stock of a Subsidiary described in clause (i) or (ii) of this definition. 

  
 16 

 “Covered Debt Amount” means, on any date, without duplication, (a) all
of the Credit Exposures of all Lenders on such date plus (b) the aggregate principal amount of outstanding Permitted Indebtedness, Shorter Term Secured Indebtedness, Special Longer Term Unsecured Indebtedness, all Indebtedness incurred
pursuant to Section 6.01(m) and all Indebtedness incurred pursuant to Section 6.01(n) on such date plus (c) the aggregate principal amount of outstanding Indebtedness on such date incurred pursuant to Section 6.01(i)
minus (d) the LC Exposures fully cash collateralized on such date pursuant to Section 2.05(l) or otherwise backstopped in a manner satisfactory to the relevant Issuing Bank in its sole discretion; provided that the aggregate
principal amount (whether incurred pursuant to Section 6.01(m), Section 6.01(n) or otherwise) of all such Permitted Indebtedness consisting of Unsecured Indebtedness, Special Longer Term Unsecured Indebtedness (other than Excess Special
Longer Term Unsecured Indebtedness) (whether incurred pursuant to Section 6.01(m), Section 6.01(n) or otherwise), and 50% of all such Shorter Term Unsecured Indebtedness (including, for the avoidance of doubt, any Excess Special Longer
Term Unsecured Indebtedness) (whether incurred pursuant to Section 6.01(m), Section 6.01(n) or otherwise) shall be excluded from the calculation of the Covered Debt Amount, in each case, to the extent then outstanding, until the date that
is nine (9) months prior to the maturity date of such Unsecured Indebtedness, Special Longer Term Unsecured Indebtedness, or Shorter Term Unsecured Indebtedness (including, for the avoidance of doubt, any Excess Special Longer Term Unsecured
Indebtedness), as applicable; provided that to the extent, but only to the extent, any portion of such Unsecured Indebtedness, Special Longer Term Unsecured Indebtedness, or Shorter Term Unsecured Indebtedness (including, for the avoidance of
doubt, any Excess Special Longer Term Unsecured Indebtedness) is subject to a contractually scheduled amortization payment, other mandatory principal payment or mandatory redemption (other than any conversion into Permitted Equity Interests) earlier
than six (6) months after the Extended Maturity Date (in the case of Unsecured Indebtedness) or earlier than the original final maturity date of such Indebtedness (in the case of Special Longer Term Unsecured Indebtedness, or Shorter Term
Unsecured Indebtedness (including, for the avoidance of doubt, any Excess Special Longer Term Unsecured Indebtedness), such portion of such Indebtedness, to the extent then outstanding, but only to the extent of such portion, shall be included in
the calculation of the Covered Debt Amount beginning upon the date that is the later of (i) nine (9) months prior to such scheduled amortization payment, other mandatory principal payment or mandatory redemption and (ii) the date
the Borrower becomes aware that such Indebtedness is required to be paid or redeemed. For the avoidance of doubt, for purposes of calculating the Covered Debt Amount, any convertible securities that constitute Indebtedness that is required to be
included in the “Covered Debt Amount” will be included at the then outstanding principal balance thereof and in no event shall any Contingent Secured Indebtedness (whether incurred pursuant to Section 6.01(m), Section 6.01(n) or
otherwise) be included in the Covered Debt Amount other than for purposes of determining whether a Contingent Borrowing Base Deficiency has occurred or is continuing. 

“Covered Entity” means any of the following: 

(i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R.
§ 252.82(b); 
 (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12
C.F.R. § 47.3(b); or 
 (iii) a “covered FSI” as that term is defined in, and interpreted in accordance
with, 12 C.F.R. § 382.2(b). 

  
 17 

 “Covered Party” has the meaning assigned to such term in Section 9.17.

 “Credit Default Swap” means any credit default swap entered into as a means to (i) invest in bonds, notes, loans,
debentures or securities on a leveraged basis (including, without limitation, total return swaps) or (ii) hedge the default risk of bonds, notes, loans, debentures or securities. 

“Credit Exposure” means, with respect to any Lender at any time, such Lender’s Revolving Credit Exposure at such time.

 “Currency” means Dollars or any Foreign Currency. 

“Custodian” means State Street Bank and Trust Company, or any other financial institution mutually agreeable to the
Collateral Agent and the Borrower, as custodian holding documentation for Portfolio Investments, and accounts of the Borrower and/or other Obligors holding Portfolio Investments, on behalf of the Borrower and/or such other Obligors or any successor
in such capacity pursuant to a Custodian Agreement. The term “Custodian” includes any agent or sub-custodian acting on behalf of the Custodian. 

“Custodian Agreement” means (a) the Custodian Agreement, dated as of February 24, 2016, by and between the Borrower
and Custodian and (b) any other custodian agreement by and among the applicable Obligor, the Custodian and any other parties from time to time party thereto in form and substance substantially similar to the Custodian Agreement described in
clause (a) or otherwise reasonably acceptable to the Collateral Agent. 
 “Daily Simple RFR” means, for any day (an
“RFR Interest Day”), an interest rate per annum equal to (a) for any RFR Loan denominated in GBP, the greater of (i) SONIA for the day (the “RFR Reference Day”) that is five RFR Business Days prior to
(A) if such RFR Interest Day is a RFR Business Day, such RFR Interest Day or (B) if such RFR Interest Day is not a RFR Business Day, the RFR Business Day immediately preceding such RFR Interest Day, in each case, plus the applicable RFR
Applicable Credit Adjustment Spread for the Interest Period in which such RFR Interest Day occurs, and (ii) 0.00%; and (b) for any RFR Loan denominated in CHF, the greater of (i) SARON for the RFR Reference Day that is five RFR
Business Days prior to (A) if such RFR Interest Day is a RFR Business Day, such RFR Interest Day or (B) if such RFR Interest Day is not a RFR Business Day, the RFR Business Day immediately preceding such RFR Interest Day, in each case,
plus the applicable RFR Applicable Credit Adjustment Spread for the Interest Period in which such RFR Interest Day occurs, and (ii) 0.00%. If by 5:00 p.m. (London time), on the second Business Day immediately following any RFR Reference Day,
the applicable RFR Rate in respect of such RFR Reference Day has not been published on the applicable RFR Administrator’s Website and a Benchmark Replacement Date with respect to the applicable Daily Simple RFR has not occurred, then the RFR
Rate for such RFR Reference Day will be the RFR Rate as published in respect of the first preceding RFR Business Day for which such RFR Rate was published on the RFR Administrator’s Website; provided that any RFR Rate as determined
pursuant to this sentence shall be utilized for purposes of calculating the Daily Simple RFR for no more than three consecutive RFR Interest Days. Any change in Daily Simple RFR due to a change in the applicable RFR Rate shall be effective from and
including the effective date of such change in such RFR Rate without notice to the Borrower. 

  
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 “Daily Simple SOFR” means, for any day (a “SOFR Rate
Day”), a rate per annum equal to SOFR for the day (such day “SOFR Determination Date”) that is five (5) RFR Business Days prior to (i) if such SOFR Rate Day is an RFR Business Day, such SOFR Rate Day or
(ii) if such SOFR Rate Day is not an RFR Business Day, the RFR Business Day immediately preceding such SOFR Rate Day, in each case, as such SOFR is published by the SOFR Administrator on the SOFR Administrator’s Website. If by 5:00 p.m.
(New York City time) on the second (2nd) RFR Business Day immediately following any SOFR Determination Date, the SOFR in respect of such SOFR Determination Date has not been published on the
SOFR Administrator’s Website and a Benchmark Replacement Date with respect to the Daily Simple SOFR has not occurred, then the SOFR for such SOFR Determination Date will be the SOFR as published in respect of the first preceding RFR Business
Day for which such SOFR was published on the SOFR Administrator’s Website; provided that any SOFR determined pursuant to this sentence shall be utilized for purposes of the calculation of Daily Simple SOFR for no more than three
(3) consecutive SOFR Rate Days. Any change in Daily Simple SOFR due to a change in SOFR shall be effective from and including the effective date of such change in SOFR without notice to the Borrower. 

“Default” means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both
would, unless cured or waived, become an Event of Default. 
 “Default Right” has the meaning assigned to that term in, and
shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable. 
 “Defaulting
Lender” means any Lender, as determined by the Administrative Agent, that, during such Lender’s Availability Period, has (a) failed to fund any portion of its Loans or participations in Letters of Credit or Swingline Loans within
two (2) Business Days of the date required to be funded by it hereunder, unless, in the case of any Loan, such Lender notifies the Administrative Agent and the Borrower in writing that such Lender’s failure is based on such Lender’s
reasonable determination that the conditions precedent to funding such Loan under this Agreement have not been met, such conditions have not otherwise been waived in accordance with the terms of this Agreement and such Lender has advised the
Administrative Agent and the Borrower in writing (with reasonable detail of those conditions that have not been satisfied) prior to the time at which such funding was to have been made, (b) notified the Borrower, the Administrative Agent, any
Issuing Bank, Swingline Lender or any Lender in writing that it does not intend to comply with any of its funding obligations under this Agreement or has made a public statement to the effect that it does not intend to comply with its funding
obligations under this Agreement or generally under other agreements in which it commits to extend credit (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is
based on such Lender’s commercially reasonable determination that a condition precedent to funding or extension of credit (which condition precedent, together with the applicable default, if any, shall be specifically identified in such writing
or public statement) cannot be satisfied), (c) failed, within two (2) Business Days after request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with the
terms of this Agreement relating to its obligations to fund prospective Loans and participations in then outstanding Letters of Credit (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon
receipt of such written confirmation by the Administrative Agent and the Borrower), (d) otherwise failed to pay over to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within two (2)

  
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Business Days of the date when due, unless the subject of a good faith dispute, (e) (i) become or is insolvent or has a parent company that has become or is insolvent or
(ii) become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or
custodian, appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment or has a parent company that has become the subject of a bankruptcy or insolvency
proceeding, or has had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or custodian appointed for it, or has taken any action in
furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment, (f) become the subject of a Bail-In Action or has a parent company that has become the subject of a Bail-In Action or (g) a
Lender is a GBSA Lender with respect to which a GBSA Initial Notice has been given; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity Interest in that Lender or any direct
or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments
or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. 

“Designated Indebtedness” has the meaning assigned to such term in the Guarantee and Security Agreement. 

“Designated Subsidiary” means: 

1. An SBIC Subsidiary; or 
 2. (a)
a direct or indirect Subsidiary of the Borrower or any other Obligor designated by the Borrower as a “Designated Subsidiary” which meets the following criteria: 

(i) to which any Obligor sells, conveys or otherwise transfers (whether directly or indirectly) Cash, Cash Equivalents or one (1) or more
Portfolio Investments, which engages in no material activities other than in connection with the holding, purchasing and financing of one (1) or more assets; 

(ii) no portion of the Indebtedness or any other obligations (contingent or otherwise) of such Subsidiary (A) is Guaranteed by any
Obligor (other than Guarantees in respect of Standard Securitization Undertakings), (B) is recourse to or obligates any Obligor in any way other than pursuant to Standard Securitization Undertakings or (C) subjects any property of any
Obligor (other than property that has been contributed or sold, purported to be sold or otherwise transferred to such Subsidiary or any equity of such Subsidiary), directly or indirectly, contingently or otherwise, to the satisfaction thereof, other
than pursuant to Standard Securitization Undertakings or any Guarantee thereof, 
 (iii) with which no Obligor has any material contract,
agreement, arrangement or understanding other than on terms, taken as a whole, not materially less favorable to such Obligor than those that might be obtained at the time from Persons that are not Affiliates of any Obligor, other than fees payable
in the ordinary course of business in connection with servicing receivables or financial assets and pursuant to any Standard Securitization Undertakings, and 

  
 20 

 (iv) to which no Obligor has any obligation to maintain or preserve such entity’s
financial condition or cause such entity to achieve certain levels of operating results, other than pursuant to Standard Securitization Undertakings; or 

(b) a direct or indirect Subsidiary of the Borrower designated by the Borrower as a “Designated Subsidiary” and which meets the
following criteria: 
 (i) such Subsidiary is the direct parent of any Designated Subsidiary referred to in clause (a) and meets the
criteria set forth in clause (a)(ii); 
 (ii) such Subsidiary engages in no activities and has no assets (other than in connection with
the transfer of assets to and from any Designated Subsidiary referred to in clause (a), its ownership of all of the Equity Interests of any Designated Subsidiary referred to in clause (a), any contracts, agreements, arrangements or
arrangements not prohibited by clause (iii) below and Standard Securitization Undertakings) or liabilities (other than in connection with any contracts, agreements, arrangements or arrangements not prohibited by clause (iii) below and
Standard Securitization Undertakings); 
 (iii) no Obligor has any material contract, agreement, arrangement or understanding with such
holding company other than on terms, taken as a whole, not materially less favorable to such Obligor than those that might be obtained at the time from Persons that are not Affiliates of any Obligor, other than fees payable in the ordinary course of
business in connection with servicing receivables or financial assets and pursuant to any Standard Securitization Undertakings; and 
 (iv)
no Obligor has any obligation to maintain or preserve such holding company’s financial condition or cause such entity to achieve certain levels of operating results, other than pursuant to Standard Securitization Undertakings. 

Any such designation under clauses (2)(a) and 2(b) by the Borrower shall be effected pursuant to a certificate of a Financial Officer delivered to the
Administrative Agent, which certificate shall include a statement to the effect that, to the best of such officer’s knowledge, such designation complied with the foregoing conditions set forth in clauses (2)(a) or (2)(b). For the avoidance
of doubt, in the case of clause (2)(a), no Subsidiary Guarantor shall be designated as a Designated Subsidiary unless the Borrower shall be in compliance with Section 6.03(d) immediately after giving effect to any such designation. Each
Subsidiary of a Designated Subsidiary shall be deemed to be a Designated Subsidiary and shall comply with the foregoing requirements of this definition. The parties hereby agree that the Subsidiaries identified as Designated Subsidiaries on Schedule
IV hereto, shall each constitute a Designated Subsidiary so long as they comply with the foregoing requirements of this definition. 

  
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 “Disposition” or “Dispose” means the sale, transfer,
license, lease or other disposition (including any sale and leaseback transaction) of any property by any Person (or the granting of any option or other right to do any of the foregoing), including any sale, assignment, transfer or other disposal,
with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith; provided that the term “Disposition” or “Dispose” shall not include the disposition of Investments originated by the
Borrower and immediately transferred to a Designated Subsidiary pursuant to a transaction not prohibited hereunder or any disposition of a Portfolio Investment received from an Excluded Asset and promptly transferred to another Excluded Asset
pursuant to the terms of Section 6.03(i). 
 “Disqualified Equity Interests” means any Equity Interests of the
Borrower that after issuance are subject to any agreement between the holder of such Equity Interests and the Borrower whereby the Borrower is required to purchase, redeem, retire, acquire, cancel or terminate all such Equity Interests at any time
prior to the first anniversary of the Extended Maturity Date, other than (x) as a result of a change of control or asset sale, or (y) in connection with any purchase, redemption, retirement, acquisition, cancellation or termination with,
or in exchange for, shares of Equity Interests that are not Disqualified Equity Interests. 
 “Disqualified Lender” means
(i) those Persons that have been identified by the Borrower in writing to the Administrative Agent on or prior to the Effective Date, (ii) any Person that is identified by the Borrower in writing to the Administrative Agent and approved by
the Administrative Agent (such approval not to be unreasonably withheld, conditioned or delayed) and (iii) Affiliates of any Person identified in clauses (i) or (ii) above that are either identified in writing to the Administrative
Agent by the Borrower from time to time or readily identifiable solely based on the similarity of such Affiliate’s name. The identification of a Disqualified Lender after the Effective Date shall not apply to retroactively disqualify any Person
that has previously acquired an assignment or participation interest in any Loan or Commitment (or any Person that, prior to such identification, has entered into a bona fide and binding trade for either of the foregoing and has not yet acquired
such assignment or participation); provided, that any designation of a Person as a Disqualified Lender shall not be effective until the Business Day after written notice thereof by the Borrower to the Administrative Agent and approval by the
Administrative Agent to the extent required in clause (ii) above. The Administrative Agent shall have the right, and the Borrower hereby expressly authorizes the Administrative Agent, to provide the list of Disqualified Lenders to each Lender
requesting the same (so long as such Lender agrees to keep such list confidential in accordance with Section 9.13). 
 “Dollar
Commitment” means, with respect to each Dollar Lender, the commitment of such Dollar Lender to make Revolving Loans denominated in Dollars hereunder, during such Lender’s Availability Period, expressed as an amount representing the
maximum aggregate amount of such Lender’s Revolving Dollar Credit Exposure permitted hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08, (b) increased from time to time pursuant to
Section 2.08 and (c) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Dollar Commitment as of the Effective Date is set forth on
Schedule I or in the Assignment and Assumption or Incremental Assumption Agreement pursuant to which such Lender shall have assumed its Dollar Commitment, as applicable. The aggregate amount of the Lenders’ Dollar Commitments as of the
Effective Date is $620,000,000. 
 “Dollar Equivalent” means, for any amount, at the time of determination thereof,
(a) if such amount is expressed in Dollars, such amount, and (b) if such amount is expressed in a Foreign Currency, the equivalent of such amount in Dollars determined at such time on the basis of the Exchange Rate for the purchase of
Dollars with such Foreign Currency at such time. 

  
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 “Dollar Issuing Bank” means any Issuing Bank identified in Schedule IX (as
amended from time to time pursuant to Section 2.08), and its successors in such capacity as provided in Section 2.05(j), that has agreed to issue Letters of Credit under its respective Dollar Commitment. 

“Dollar LC Exposure” means a Dollar Lender’s LC Exposure under its Dollar Commitment. 

“Dollar Lender” means the Persons listed on Schedule I as having Dollar Commitments and any other Person that shall have
become a party hereto pursuant to an Assignment and Assumption or Incremental Assumption Agreement that provides for it to assume a Dollar Commitment or to acquire Revolving Dollar Credit Exposure, other than any such Person that ceases to be a
party hereto pursuant to an Assignment and Assumption or Incremental Assumption Agreement or otherwise in accordance with the terms hereof. 

“Dollar Loan” means a Revolving Loan made pursuant to the Dollar Commitments. 

“Dollars” or “$” refers to lawful money of the United States of America. 

“Domestic Subsidiary” means, with respect to any Person, any Subsidiary of such Person other than a Controlled Foreign
Corporation. 
 “EBITDA” means the consolidated net income of the applicable Person (excluding extraordinary, unusual or
non-recurring gains and extraordinary losses (but solely to the extent excluded in the definition of “EBITDA” (or similar defined term used for the purposes contemplated herein) in the relevant agreement relating to the applicable
Portfolio Investment)) for the relevant period plus, without duplication, the following to the extent deducted in calculating such consolidated net income in the relevant agreement relating to the applicable Portfolio Investment for such period:
(i) consolidated interest charges for such period, (ii) the provision for federal, state, local and foreign income taxes payable for such period, (iii) depreciation and amortization expense for such period, and (iv) such other
adjustments included in the definition of “EBITDA” (or similar defined term used for the purposes contemplated herein) in the relevant agreement relating to the applicable Portfolio Investment, provided that such adjustments are
usual and customary and substantially comparable to market terms for substantially similar debt of other similarly situated borrowers at the time such relevant agreements are entered into as reasonably determined in good faith by the Borrower. 

“EEA Financial Institution” means (a) any institution established in any EEA Member Country which is subject to the
supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any institution established in an EEA Member
Country which is a subsidiary of an institution described in clause (a) or (b) of this definition and is subject to consolidated supervision with its parent. 

“EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway. 

  
 23 

 “EEA Resolution Authority” means any public administrative authority or any
Person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Effective Date” means the date on which the conditions specified in Section 4.01 are satisfied (or waived in accordance
with Section 9.02). 
 “Equity Interests” means shares of capital stock, partnership interests, membership interests
in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such Equity Interest. As used in this
Agreement, “Equity Interests” shall not include convertible debt unless and until such debt has been converted to capital stock or other Equity Interests. 

“ERISA” means the U.S. Employee Retirement Income Security Act of 1974, as amended from time to time and the rules and
regulations promulgated thereunder. 
 “ERISA Affiliate” means any trade or business (whether or not incorporated) that,
together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code, or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under
Section 414 of the Code. 
 “ERISA Event” means (a) any “reportable event”, as defined in
Section 4043(c) of ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which the 30-day notice period is waived); (b) any failure by any Plan to satisfy the minimum funding standard (within the
meaning of Sections 412 and 430 of the Code or Sections 302 and 303 of ERISA) applicable to such Plan; (c) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the
minimum funding standard with respect to any Plan; (d) the incurrence by the Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt by the Borrower
or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan under Section 4041 of ERISA or to appoint a trustee to administer any Plan under Section 4042 of ERISA; (f) the
incurrence by the Borrower or any of its ERISA Affiliates of any liability with respect to a withdrawal from a Plan subject to Section 4063 of ERISA during a plan year in which it was a “substantial employer” (as defined in
Section 4001(a)(2) of ERISA) or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA, or a complete withdrawal or partial withdrawal (within the meanings of Sections 4203 and 4205 of ERISA)
from any Multiemployer Plan; or (g) the receipt by the Borrower or any ERISA Affiliate of any notice from any Multiemployer Plan concerning the imposition of Withdrawal Liability on the Borrower or any ERISA Affiliate or a determination that a
Multiemployer Plan is insolvent (within the meaning of Section 4245 of ERISA). 
 “Erroneous Payment” has the meaning
assigned to such term in Section 8.03(a). 
 “Erroneous Payment Deficiency Assignment” has the meaning assigned to
such term in Section 8.03(d). 

  
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 “Erroneous Payment Impacted Class” has the meaning assigned to such term in
Section 8.03(d). 
 “Erroneous Payment Return Deficiency” has the meaning assigned to such term in
Section 8.03(d). 
 “Erroneous Payment Subrogation Rights” has the meaning assigned to such term in
Section 8.03(d). 
 “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the Loan
Market Association (or any successor Person), as in effect from time to time. 
 “EUR”, “€” and
“Euro” denote the single currency of the Participating Member States. 
 “EURIBO Rate” means, for any
Interest Period, in the case of any Term Benchmark Borrowing denominated in Euro, the Euro interbank offered rate administered by the European Money Markets Institute (or any other Person that takes over the administration of such rate) for a term
equal to the term of the relevant Interest Period appearing on the Bloomberg screen page (currently EURIBOR01) (or, in the event such rate does not appear on a page of the Bloomberg screen, on the appropriate page of such other information service
that publishes such rate as shall be selected by the Administrative Agent from time to time in its reasonable discretion) at approximately 11:00 a.m. (Brussels time), on such date, or if such date is not a Business Day, on the immediately
preceding Business Day (the “EURIBO Screen Rate”). 
 “EURIBO Screen Rate” has the meaning assigned to
such term in the definition of “EURIBO Rate”. 
 “Event of Default” has the meaning assigned to such term in
Section 7.01. 
 “Excess Special Longer Term Unsecured Indebtedness” means any Special Longer Term Unsecured
Indebtedness in excess of $700,000,000 at any one time outstanding. 
 “Exchange Rate” means, on any day, for purposes of
determining the Dollar Equivalent of any amount denominated in a currency other than Dollars, the rate at which such other currency may be exchanged into Dollars at approximately 11:00 a.m. London time on such day as set forth on the Bloomberg World
Currency Value Page for such currency. In the event that such rate does not appear on such Bloomberg Page (or on any successor or substitute page), the Exchange Rate shall be determined by reference to such other publicly available information
service for displaying exchange rates as may be agreed upon by the Administrative Agent and the Borrower, or, in the absence of such an agreement, the Exchange Rate shall instead be the arithmetic average of the spot rates of exchange of the
Administrative Agent in the market where its foreign currency exchange operations in respect of such currency are then being conducted, at or about 10:00 a.m. New York City time on such date for the purchase of Dollars with such currency for
delivery two (2) Business Days later; provided that if at the time of any such determination, for any reason, no such spot rate is being quoted, the Administrative Agent may use any reasonable method it deems appropriate to determine
such rate, and such determination shall be conclusive absent manifest error. 

  
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 “Excluded Asset Lien” has the meaning assigned to such term in
Section 6.02(e). 
 “Excluded Assets” means the entities identified as Excluded Assets in Schedule VIII hereto,
any Permitted CLO Issuer and finance lease obligations, and each Designated Subsidiary, and any similar assets or entities in which any Obligor holds an interest on or after the Effective Date, and, in each case, their respective Subsidiaries,
unless, in the case of any such asset or entity, the Borrower designates in writing to the Collateral Agent that such asset or entity is not to be an Excluded Asset. 

“Excluded Swap Obligation” means, with respect to any Subsidiary Guarantor, any Swap Obligation if, and to the extent that,
all or a portion of the Guarantee of such Subsidiary Guarantor of, or the grant by such Subsidiary Guarantor of a security interest to secure, such Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or
any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Subsidiary Guarantor’s failure for any reason to constitute an “eligible contract
participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the Guarantee of such Subsidiary Guarantor (determined after giving effect to Section 3.11 of the Guarantee and Security Agreement and any
other “Keepwell, support or other agreement” for the benefit of such Subsidiary Guarantor) or the grant of such security interest becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a master agreement
governing more than one (1) swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such Guarantee or security interest is or becomes illegal. 

“Excluded Taxes” means, with respect to the Administrative Agent, any Lender, any Issuing Bank or any other recipient of any
payment to be made by or on account of any obligation of the Borrower hereunder, (a) Taxes imposed on or measured by net income (however denominated), branch profits Taxes, and franchise Taxes, in each case, (i) imposed by the United
States of America, or by the jurisdiction (or any political subdivision thereof) under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is
located or (ii) that are Other Connection Taxes, (b) in the case of a Lender or any Issuing Bank, any United States withholding tax that is imposed on amounts payable to or on account of such Lender or Issuing Bank with respect to an
applicable interest in a Loan or Commitment pursuant to a law in effect on the date (i) such Lender or Issuing Bank becomes a party to this Agreement (other than pursuant to an assignment request by the Borrower under Section 2.19(b) or
9.02(d)) or (ii) such Lender or Issuing Bank designates a new lending office, except to the extent that such Lender or Issuing Bank (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to
receive additional amounts from the Borrower with respect to such withholding tax pursuant to Section 2.16(a), (c) Taxes attributable to such Lender or Issuing Bank’s failure to comply with Section 2.16(f), (g) or (h), and
(d) any United States federal withholding Taxes imposed under FATCA. 
 “Existing Credit Agreement” has the meaning
assigned to such term in the recitals to this Agreement. 
 “Existing Lenders” has the meaning assigned to such term in the
recitals to this Agreement. 

  
 26 

 “Existing Loans” has the meaning assigned to such term in the recitals to
this Agreement. 
 “Extended Availability Period” means, with respect to the Revolving Commitments of any Extending Lender,
the period from and including the Effective Date to but excluding the earlier of the Extended Commitment Termination Date and the date of termination of such Revolving Commitments. 

“Extended Commitment Termination Date” means, with respect to each Extending Lender, August 26, 2026. 

“Extended Maturity Date” means, with respect to each Extending Lender, the earliest to occur of (a) August 26, 2027
and (b) the date on which all Commitments have been terminated and the aggregate amount of Loans outstanding has been repaid in full and all other obligations of the Borrower hereunder have been indefeasibly paid in full (other than any
Unasserted Contingent Obligations that survive the termination of this Agreement). 
 “Extended Loans” means Loans or
Borrowings of any Extending Lender maturing on the Extended Maturity Date. 
 “Extending Lender” means each Lender
designated as an “Extending Lender” on Schedule I. 
 “Extending Lender Applicable Margin” means: (a) with
respect to any ABR Loan, 0.875% per annum; (b) with respect to any Term Benchmark Loan, 1.875% per annum, (c) with respect to any RFR Loan 1.875% per annum; provided that (x) if the Gross Borrowing Base (as of
the most recently delivered Borrowing Base Certificate) is greater than or equal to the product of 1.60 and the Combined Debt Amount, (i) with respect to any ABR Loan, 0.75% per annum, (ii) with respect to any Term Benchmark Loan,
1.75% per annum; (iii) with respect to any RFR Loan, 1.75% per annum. 
 “Extraordinary Receipts” means any
cash received by or paid to any Obligor on account of any foreign, United States, state or local tax refunds, pension plan reversions, judgments, proceeds of settlements or other consideration of any kind in connection with any cause of action,
condemnation awards (and payments in lieu thereof), indemnity payments received not in the ordinary course of business and any purchase price adjustment received not in the ordinary course of business in connection with any purchase agreement and
proceeds of insurance (excluding, however, for the avoidance of doubt, proceeds of any issuance of Equity Interests and issuances of Indebtedness by any Obligor); provided that Extraordinary Receipts shall not include any (v) amounts
that the Borrower receives from the Administrative Agent or any Lender pursuant to Section 2.16(i), (w) cash receipts to the extent received from proceeds of insurance, condemnation awards (or payments in lieu thereof), indemnity payments
or payments in respect of judgments or settlements of claims, litigation or proceedings to the extent that such proceeds, awards or payments are received by any Person in respect of any unaffiliated third party claim against or loss by such Person
and applied to pay (or to reimburse such Person for its prior payment of) such claim or loss and the costs and expenses of such Person with respect thereto, (x) taxes paid or reasonably estimated to be payable by the Borrower or such other
Obligor as a result of such cash receipts (after taking into account any available tax credits or deductions); provided that, if the 

  
 27 

 
amount of any estimated taxes pursuant to clause (x) exceeds the amount of taxes actually required to be paid in cash in respect of any such event, the aggregate amount of such excess
shall constitute Extraordinary Receipts (as of the date the Borrower determines such excess exists), (y) any costs, fees, commissions, premiums and expenses incurred by the Borrower or such other Obligor directly incidental to such cash
receipts, including reasonable legal fees and expenses or (z) proceeds of business interruption insurance to the extent such proceeds constitute compensation for lost earnings. 

“Facility Termination Date” means the first date on which (a) the Commitments have expired or been terminated,
(b) the principal of and accrued interest on each Loan and all fees and other amounts payable hereunder (other than Unasserted Contingent Obligations) shall have been paid in full in cash, (c) all Letters of Credit shall have
(w) expired, (x) terminated, (y) been cash collateralized in the manner required by Section 2.05(k) or (z) otherwise been backstopped in a manner satisfactory to the relevant Issuing Bank in its sole discretion and
(d) all LC Disbursements then outstanding shall have been reimbursed. 
 “FATCA” means Sections 1471 through 1474
of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any
agreements entered into pursuant to Section 1471(b)(1) of the Code and any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement, treaty or convention among Governmental Authorities and
implementing such Sections of the Code. 
 “Federal Funds Effective Rate” means, for any day, the weighted average (rounded
upwards, if necessary, to the next 1/100 of 1.00%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System, as published on the next succeeding Business Day by the NYFRB, or, if such rate is not so published
for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1.00%) of the quotations for such day for such transactions received by the Administrative Agent from three (3) Federal funds brokers of
recognized standing selected by it. Notwithstanding the foregoing, if the Federal Funds Effective Rate, as determined as provided above, would otherwise be less than zero (0.00%), then the Federal Funds Effective Rate shall be deemed to be zero
(0.00%) for purposes of this Agreement. 
 “Financial Officer” means the chief executive officer, president, chief
financial officer, principal accounting officer, chief accounting officer, treasurer, assistant treasurer, controller or assistant controller of the Borrower. 

“Floor” means zero percent (0.00%). 

“Foreign Currency” means at any time any Currency other than Dollars. 

“Foreign Currency Equivalent” means, with respect to any amount in Dollars, the amount of any Foreign Currency that could be
purchased with such amount of Dollars using the reciprocal of the foreign exchange rate(s) specified in the definition of the term “Dollar Equivalent”, as determined by the Administrative Agent. 

  
 28 

 “Foreign Lender” means any Lender or any Issuing Bank that is organized
under the laws of a jurisdiction other than that in which the Borrower is located. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction.

 “GAAP” means generally accepted accounting principles in the United States of America. 

“GBP”, “£” and “sterling” denote the lawful currency of the United Kingdom. 

“GBSA” has the meaning assigned to such term in Section 9.21. 

“GBSA Consultation Notice” has the meaning assigned to such term in Section 9.21. 

“GBSA Consultation Period” has the meaning assigned to such term in Section 9.21. 

“GBSA Final Notice” has the meaning assigned to such term in Section 9.21. 

“GBSA Initial Notice” has the meaning assigned to such term in Section 9.21. 

“GBSA Lender” has the meaning assigned to such term in Section 9.21. 

“GBSA Obligations” has the meaning assigned to such term in Section 9.21. 

“GICS” means, as of any date, the most recently published Global Industry Classification Standard. 

“GICS Industry Group Classification” means any industry group classification within GICS, as updated and amended from time to
time. 
 “Governmental Authority” means the government of the United States of America, or of any other nation, or any
political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or
functions of or pertaining to government, including any supra-national body exercising such powers or functions (such as the European Union or the European Central Bank). 

“Gross Borrowing Base” has the meaning assigned to such term in Section 5.13(h). 

“Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the
guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of the
guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds for the purchase of) any security for the
payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other obligation of the payment thereof, (c) to maintain working capital, equity capital or any other
financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or 

  
 29 

 
other obligation or (d) as an account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness or obligation; provided, that the term
Guarantee shall not include endorsements for collection or deposit in the ordinary course of business or customary indemnification agreements entered into in the ordinary course of business in connection with obligations that do not constitute
Indebtedness. The amount of any Guarantee at any time shall be deemed to be an amount equal to the maximum stated or determinable amount of the primary obligation in respect of which such Guarantee is incurred, unless the terms of such Guarantee
expressly provide that the maximum amount for which such Person may be liable thereunder is a lesser amount (in which case the amount of such Guarantee shall be deemed to be an amount equal to such lesser amount). 

“Guarantee and Security Agreement” means that certain Amended and Restated Guarantee and Security Agreement dated as of
August 26, 2022 among the Borrower, the Subsidiary Guarantors, the Administrative Agent, each holder (or a representative or trustee therefor) from time to time of any Designated Indebtedness, and the Collateral Agent. 

“Guarantee Assumption Agreement” means a Guarantee Assumption Agreement substantially in the form of Exhibit B to the
Guarantee and Security Agreement (or such other form as is reasonably acceptable to the Collateral Agent) between the Collateral Agent and an entity that, pursuant to Section 5.08 is required to become a “Subsidiary Guarantor” under
the Guarantee and Security Agreement (with such changes as the Collateral Agent shall request, consistent with the requirements of Section 5.08). 

“Hedging Agreement” means any interest rate protection agreement, foreign currency exchange protection agreement, commodity
price protection agreement or other interest or currency exchange rate or commodity price hedging arrangement. 
 “Immaterial
Subsidiaries” means those Subsidiaries of the Borrower that are “designated” as Immaterial Subsidiaries by the Borrower from time to time (it being understood that the Borrower may at any time change any such designation);
provided that such designated Immaterial Subsidiaries shall collectively meet all of the following criteria as of the date of the most recent balance sheet required to be delivered pursuant to Section 5.01: (a) the aggregate
assets of such Subsidiaries and their Subsidiaries (on a consolidated basis) as of such date do not exceed an amount equal to 5% of the consolidated assets of the Borrower and its Subsidiaries as of such date; and (b) the aggregate revenues of
such Subsidiaries and their Subsidiaries (on a consolidated basis) for the fiscal quarter ending on such date do not exceed an amount equal to 5% of the consolidated revenues of the Borrower and its Subsidiaries for such period. 

“Increasing Lender” has the meaning assigned to such term in Section 2.08(e)(i). 

“Incremental Assumption Agreement” has the meaning assigned to such term in Section 2.08(e)(ii)(B). 

“Indebtedness” of any Person means, without duplication, (a) (i) all obligations of such Person for borrowed money
or (ii) with respect to deposits or advances of any kind that are required to be to accounted for under GAAP as a liability on the financial statements of such Person (other than deposits received in connection with a portfolio investment
(including Portfolio 

  
 30 

 
Investments) of such Person in the ordinary course of such Person’s business (including, but not limited to, any deposits or advances in connection with expense reimbursement, prepaid agency
fees, other fees, indemnification, work fees, tax distributions or purchase price adjustments)), (b) all obligations of such Person evidenced by bonds, debentures, notes or similar debt instruments, (c) all obligations of such Person under
conditional sale or other title retention agreements relating to property acquired by such Person (excluding accounts payable and accrued expenses and trade accounts incurred in the ordinary course of business), (d) all obligations of such
Person in respect of the deferred purchase price of property or services (excluding accounts payable and accrued expenses and trade accounts incurred in the ordinary course of business), (e) all Indebtedness of others secured by any Lien (other
than a Lien permitted by Section 6.02(c)) on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed (with the amount of such Indebtedness being the lower of the outstanding amount of such
debt and the fair market value of the property subject to such Lien), (f) all Guarantees by such Person of Indebtedness of others, (g) all Capital Lease Obligations of such Person, (h) all obligations, contingent or otherwise, of such
Person as an account party in respect of letters of credit and letters of guaranty, (i) all obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances and (j) all Disqualified Equity Interests. The
Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in
or other relationship with such entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. Notwithstanding the foregoing “Indebtedness” shall not include (s) uncalled capital or other
commitments of an Obligor in any joint venture, as well as any letter or agreement requiring any Obligor to provide capital to a joint venture or a lender to a joint venture, (t) [reserved], (u) any non-recourse liabilities for
participation sold by any Person in any Bank Loans, (v) indebtedness of such Person on account of the sale by such Person of the first out tranche of any First Lien Bank Loan (as defined in Section 5.13) that arises solely as an accounting
matter under ASC 860, (w) escrows or purchase price holdbacks arising in the ordinary course of business in respect of a portion of the purchase price of an asset or Investment to satisfy unperformed obligations of the seller of such asset or
Investment, (x) a commitment arising in the ordinary course of business to make a future portfolio investment (including Portfolio Investments) or fund the delayed draw, revolver, letter of credit or other unfunded portion of any existing
portfolio investment (including Portfolio Investments), (y) any accrued incentive, management or other fees to an investment manager or its affiliates (regardless of any deferral in payment thereof), or (z) non-recourse liabilities for
participations sold by any Person in any Bank Loan. 
 “Indemnified Taxes” means Taxes, other than Excluded Taxes, imposed
on or with respect to any payment made by or on account of any obligation of any Obligor under any Loan Document. 
 “Independent
Valuation Provider” means an independent valuation provider selected by the Administrative Agent and reasonably acceptable to the Borrower. 

“Industry Classification Group” means (a) any GICS Industry Group Classification set forth in Schedule VI hereto,
together with any such group classifications that may be subsequently established by GICS and provided by the Borrower to the Lenders and (b) up to three (3) additional industry group classifications established by the Borrower pursuant to
Section 5.12. 

  
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 “Initial GBSA Termination Date” has the meaning assigned to such term in
Section 9.21. 
 “Interest Election Request” means a request by the Borrower to convert or continue a Borrowing in
accordance with Section 2.07 substantially in the form of Exhibit D or such other form as is reasonably acceptable to the Administrative Agent. 

“Interest Payment Date” means (a) with respect to any ABR Loan, each Quarterly Date, (b) with respect to any Term
Benchmark Loan or RFR Loan, the last day of each Interest Period therefor and, in the case of any Term Benchmark Loan with an Interest Period of more than three (3) months’ duration, each day prior to the last day of such Interest Period
that occurs at three (3) month intervals after the first day of such Interest Period and (c) with respect to any Swingline Loan, the day that such Loan is required to be repaid. 

“Interest Period” means, for any Term Benchmark Loan or Borrowing or any RFR Loan or Borrowing, the period commencing on the
date of such Loan or Borrowing and ending on the numerically corresponding day in the calendar month that is one (1) month, three (3) months or (except in the case of Term Benchmark Loans and Borrowings denominated in CAD and RFR Loans and
RFR Borrowings) six (6) months thereafter or, with respect to such portion of any Term Benchmark Loan, RFR Loan or Borrowing denominated in a Foreign Currency that is scheduled to be repaid on the applicable Maturity Date, a period of less than
one month’s duration commencing on the date of such Loan or Borrowing and ending on the applicable Maturity Date, as specified in the applicable Borrowing Request or Interest Election Request, provided, that (i) if any Interest
Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall
end on the next preceding Business Day, (ii) any Interest Period (other than an Interest Period pertaining to a Term Benchmark Borrowing or RFR Borrowing denominated in a Foreign Currency that ends on the applicable Maturity Date that is
permitted to be of less than one month’s duration as provided in this definition) that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such
Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period and (iii) no tenor that has been removed from this definition pursuant to Section 2.13(e) shall be available unless or until it is
reinstated pursuant to Section 2.13(e). For purposes hereof, the date of a Loan initially shall be the date on which such Loan is made and thereafter shall be the effective date of the most recent conversion or continuation of such Loan, and
the date of a Borrowing comprising Loans that have been converted or continued shall be the effective date of the most recent conversion or continuation of such Loans. 

“Investment” means, for any Person: (a) Equity Interests, bonds, notes, debentures or other securities of any other
Person or any agreement to acquire any Equity Interests, bonds, notes, debentures or other securities of any other Person (including any “short sale” or any sale of any securities at a time when such securities are not owned by the Person
entering into such sale); (b) deposits, advances, loans or other extensions of credit made to any other Person (including purchases of property from another Person subject to an understanding or agreement, contingent or otherwise, to resell
such property to such Person); or (c) Hedging Agreements and Credit Default Swaps. 

  
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 “Investment Company Act” means the Investment Company Act of 1940, as
amended from time to time. 
 “Investment Policies” has the meaning assigned to such term in Section 3.11(c). 

“Issuing Banks” means Truist Bank, ING Capital LLC, MUFG Union Bank, N.A., Sumitomo Mitsui Banking Corporation, State Street
Bank and Trust Company, Wells Fargo Bank, National Association, Santander Bank, N.A. and each additional Issuing Bank designated pursuant to Section 2.05(k), in their capacity as issuer of Letters of Credit hereunder, and their successors in
such capacity as provided in Section 2.05(j). 
 “Joint Lead Arrangers” means Truist Securities, Inc., ING Capital
LLC, MUFG Union Bank, N.A., Sumitomo Mitsui Banking Corporation, Wells Fargo Bank, National Association, Santander Bank, N.A. and any other Person who becomes a Joint Lead Arranger hereunder with the written consent of the Administrative Agent and
the Borrower. 
 “LC Disbursement” means a payment made by any Issuing Bank pursuant to a Letter of Credit. 

“LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at
such time (including any Letter of Credit for which a draft has been presented but not yet honored by any Issuing Bank) plus (b) the aggregate amount of all LC Disbursements in respect of such Letters of Credit that have not yet been
reimbursed by or on behalf of the Borrower at such time. The LC Exposure of any Multicurrency Lender at any time shall be its Applicable Multicurrency Percentage of the total Multicurrency LC Exposure at such time and the LC Exposure of any Dollar
Lender at any time shall be its Applicable Dollar Percentage of the total Dollar LC Exposure at such time. 
 “Lenders”
means, collectively, the Dollar Lenders and the Multicurrency Lenders. Unless otherwise indicated, the term “Lenders” includes each Swingline Lender. 

“Letter of Credit” means any letter of credit issued pursuant to this Agreement. 

“Letter of Credit Collateral Account” has the meaning assigned to such term in Section 2.05(l). 

“Letter of Credit Documents” means, with respect to any Letter of Credit, collectively, any application therefor and any
other agreements, instruments, guarantees or other documents (whether general in application or applicable only to such Letter of Credit) governing or providing for (a) the rights and obligations of the parties concerned or at risk with respect
to such Letter of Credit or (b) any collateral security for any of such obligations, each as the same may be modified and supplemented and in effect from time to time. 

“Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance,
charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same economic effect
as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of 

  
 33 

 
a third party with respect to such securities (other than on market terms at fair value so long as in the case of any portfolio investment (including Portfolio Investments), the Value used in
determining the Borrowing Base is not greater than the call price), except in favor of the issuer thereof (and, for the avoidance of doubt, in the case of Investments that are loans or other debt obligations, restrictions on assignments or
transfers, buyout rights, voting rights, right of first offer or refusal thereof pursuant to the underlying documentation of such Investment shall not be deemed to be a “Lien” and, in the case of portfolio investments (including Portfolio
Investments) that are equity securities, excluding customary drag along, tag along, buyout rights, voting rights, right of first offer or refusal, restrictions on assignments or transfers and other similar rights in favor of other equity holders of
the same issuer). 
 “Loan Documents” means, collectively, this Agreement, the Letter of Credit Documents and the Security
Documents. 
 “Loans” means the loans of any Class made hereunder, including the Revolving Loans. 

“Margin Stock” means “margin stock” within the meaning of Regulations T, U and X of the Board. 

“Material Adverse Effect” means a material adverse effect on (a) the business, Portfolio Investments and other assets,
liabilities and financial condition of the Borrower and its Subsidiaries taken as a whole (excluding in any case a decline in the net asset value of the Borrower or its Subsidiaries, a change in general market conditions or values of the Investments
of the Borrower and its Subsidiaries taken as a whole), or (b) the validity or enforceability of any of the Loan Documents or the rights or remedies of the Collateral Agent, the Administrative Agent and the Lenders thereunder. 

“Material Indebtedness” means (a) Indebtedness (other than the Loans, Letters of Credit, Hedging Agreements and Credit
Default Swaps), of any one (1) or more of the Borrower and its Subsidiaries in an aggregate outstanding principal amount exceeding $50,000,000, (b) obligations in respect of one (1) or more Hedging Agreements under which the maximum
aggregate amount (giving effect to any netting agreements) that the Borrower and the Subsidiaries would be required to pay if such Hedging Agreement(s) were terminated at such time would exceed $50,000,000 and (c) obligations in respect of
one (1) or more Credit Default Swaps of the Borrower and the Subsidiaries under which the notional amount less any collateral posted in support of such Credit Default Swaps would exceed $50,000,000. 

“Maturity Date” means (a) in the case of any Extending Lender (with respect to such Extending Lender’s Extended
Loans), the Extended Maturity Date or (b) in the case of any Non-Extending Lender (with respect to such Non-Extending Lender’s Non-Extended Loans), such Non-Extending Lender’s applicable Non-Extended Maturity Date. 

“Maximum Rate” has the meaning assigned to such term in Section 9.20. 

“Modification Offer” means, to the extent required by the definition of Permitted Advisor Loan, Other Secured Indebtedness or
Unsecured Indebtedness, an obligation that will be satisfied if at least ten (10) Business Days (or, such shorter period if ten (10) Business Days is not practicable) prior to the incurrence of such Permitted Advisor Loan, Other Secured
Indebtedness 

  
 34 

 
or Unsecured Indebtedness, the Borrower shall have provided notice to the Administrative Agent of the terms thereof that do not satisfy the requirements for such type of Indebtedness set forth in
the respective definitions herein, which notice shall contain reasonable detail of the terms thereof and an unconditional offer by the Borrower to amend this Agreement to the extent necessary to satisfy the definition of “Permitted Advisor
Loan”, “Other Secured Indebtedness” or “Unsecured Indebtedness”, as applicable, to be incurred. If any such Modification Offer is accepted by the Required Lenders within ten (10) Business Days of receipt of such offer,
this Agreement shall be deemed automatically amended (and, upon the request of the Administrative Agent or the Required Lenders, the Borrower shall promptly enter into a written amendment evidencing such amendment), mutatis mutandis, solely to
reflect all or some of such more restrictive financial covenants or events of default, as elected by the Required Lenders. Notwithstanding the foregoing any provision in a Modification Offer (including any associated cure or grace period)
incorporated into this Agreement pursuant to the definition of “Permitted Advisor Loan”, “Other Secured Indebtedness” or “Unsecured Indebtedness”, as applicable, shall be deleted from this Agreement pursuant to an
amendment entered into by the Administrative Agent and the Borrower following such time as the terms of such other Indebtedness are permanently amended so that such provision no longer applies or the applicable Permitted Advisor Loan, Other Secured
Indebtedness or Unsecured Indebtedness is terminated or otherwise no longer in effect if (x) the Borrower provides the Administrative Agent and each Lender with written notice of such permanent amendment or termination and (y) within ten
(10) Business Days of the Administrative Agent and the Lenders receiving such written notice from the Borrower, the Required Lenders have not provided written notice to the Borrower and the Administrative Agent objecting to the removal of such
provision from this Agreement. Any amendment entered into between the Administrative Agent and the Borrower pursuant to this definition shall be at the Borrower’s sole cost and expense. 

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

“Multicurrency Commitment” means, with respect to each Multicurrency Lender, the commitment of such Multicurrency Lender to
make Revolving Loans, and to acquire participations in Letters of Credit, denominated in Dollars and in Agreed Foreign Currencies hereunder, during such Multicurrency Lender’s Availability Period, expressed as an amount representing the maximum
aggregate amount of the Dollar Equivalent of such Lender’s Revolving Multicurrency Credit Exposure permitted hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08, (b) increased from time to
time pursuant to Section 2.08 and (c) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.04. The aggregate amount of each Lender’s Multicurrency Commitment as of the
Effective Date is set forth on Schedule I, or in the Assignment and Assumption or Incremental Assumption Agreement pursuant to which such Lender shall have assumed its Multicurrency Commitment, as applicable. The aggregate amount of the
Lenders’ Multicurrency Commitments as of the Effective Date is $1,235,000,000. 
 “Multicurrency Issuing Bank” means
any Issuing Bank identified in Schedule IX (as amended from time to time pursuant to Section 2.08), and its successors in such capacity as provided in Section 2.05(j), that has agreed to issue Letters of Credit under its respective
Multicurrency Commitment. In the case of any Letter of Credit to be issued in an Agreed Foreign Currency, such Issuing Bank may designate any of its affiliates with credit ratings at least as good as such Issuing Bank, as the “Multicurrency
Issuing Bank” for purposes of such Letter of Credit. 

  
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 “Multicurrency LC Exposure” means a Multicurrency Lender’s LC Exposure
under its Multicurrency Commitment. 
 “Multicurrency Lender” means the Persons listed on Schedule I as having
Multicurrency Commitments and any other Person that shall have become a party hereto pursuant to an Assignment and Assumption or Incremental Assumption Agreement that provides for it to assume a Multicurrency Commitment or to acquire Revolving
Multicurrency Credit Exposure, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption or Incremental Assumption Agreement or otherwise in accordance with the terms hereof. 

“Multicurrency Loan” means any Revolving Loan made pursuant to the Multicurrency Commitments. 

“Multiemployer Plan” means a “multiemployer plan” as defined in Section 4001(a)(3) of ERISA in respect of
which the Borrower or any ERISA Affiliate makes any contributions. 
 “National Currency” means the currency, other than
the Euro, of a Participating Member State. 
 “Net Cash Proceeds” means: 

(a) with respect to any Disposition by the Borrower or any other Obligor, or any Extraordinary Receipt received or paid to the account of the
Borrower or any other Obligor, an amount equal to (a) the sum of cash and Cash Equivalents received by an Obligor in connection with such transaction (including any cash or Cash Equivalents received by way of deferred payment pursuant to, or by
monetization of, a note receivable or otherwise, but only as and when so received) minus (b) the sum of (i) the principal amount of any Indebtedness that is secured by the applicable asset and that is required to be repaid in
connection with such transaction (other than Indebtedness under the Loan Documents), (ii) the reasonable out-of-pocket fees, costs and expenses incurred by the Borrower or such other Obligor in connection with such transaction, (iii) the
taxes paid or reasonably estimated to be actually payable within two years of the date of the relevant transaction in connection with such transaction; provided that, if the amount of any estimated taxes pursuant to clause
(iii) exceeds the amount of taxes actually required to be paid in cash in respect of such Disposition, the aggregate amount of such excess shall constitute Net Cash Proceeds (as of the date the Borrower determines such excess exists),
(iv) any reasonable costs, fees, commissions, premiums and expenses incurred by the Borrower or any of its Subsidiaries in connection with such Disposition, and (v) reserves for indemnification, purchase price adjustments or analogous
arrangements either (x) required by underlying documentation for such Disposition or (y) reasonably estimated by the Borrower or the relevant Subsidiary in connection with such Disposition; provided that, if the amount of any
estimated reserves pursuant to this clause (v) exceeds the amount actually required to be paid in cash in respect of indemnification, purchase price adjustments or analogous arrangements for such Disposition, the aggregate amount of such excess
shall constitute Net Cash Proceeds (as of the date the Borrower determines such excess exists); and 

  
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 (b) with respect to the sale or issuance of any Equity Interest by the Borrower or any other
Obligor (including, for the avoidance of doubt, cash received by the Borrower or any other Obligor for the sale by the Borrower or such Obligor of any Equity Interest of a Subsidiary, but specifically excluding any sale of any Equity Interest by a
Subsidiary that is not an Obligor or cash received by a Subsidiary that is not an Obligor), or the incurrence or issuance of any Indebtedness by the Borrower or any other Obligor, an amount equal to (i) the sum of the cash and Cash Equivalents
received in connection with such transaction minus (ii) the sum of (1) reasonable out-of-pocket fees, costs and expenses, incurred by the Borrower or such Obligor in connection therewith plus (2) any reasonable costs,
fees, commissions, premiums, expenses, or underwriting discounts or commissions incurred by the Borrower or any of its Subsidiaries in connection with such sale or issuance. 

“Non-Extended Availability Period” means, with respect to any Non-Extending Lender, the period from and including the
Effective Date to but excluding the earlier of the Non-Extended Commitment Termination Date for such Non-Extending Lender and the date of termination of the Commitments. 

“Non-Extended Commitment Termination Date” means, with respect to each Non-Extending Lender, the “Non-Extended
Commitment Termination Date” set forth next to such Non-Extending Lender’s name on Schedule I. 
 “Non-Extended
Maturity Date” means, with respect to each Non-Extending Lender, the earliest to occur of (a) the “Non-Extended Maturity Date” set forth next to such Non-Extending Lender’s name on Schedule I and (b) the date
on which all Commitments have been terminated and the aggregate amount of Loans outstanding has been repaid in full and all other obligations of the Borrower hereunder have been indefeasibly paid in full (other than any Unasserted Contingent
Obligations that survive the termination of this Agreement). 
 “Non-Extended Loans” means Loans or Borrowings of any
Non-Extending Lender maturing on the Non-Extended Maturity Date for such Non-Extending Lender. 
 “Non-Extending Lender”
means each Lender designated as a “Non-Extending Lender” on Schedule I. 
 “Non-Extending Lender Applicable
Margin” means: (a) with respect to any ABR Loan, 1.000% per annum, (b) with respect to any Term Benchmark Loan, 2.000% per annum and (c) with respect to any RFR Loan, 2.000% per annum plus the Applicable Credit
Adjustment Spread. 
 “NYFRB” means the Federal Reserve Bank of New York. 

“NZD” denotes the lawful currency of New Zealand. 

“Obligor” means, collectively, the Borrower and the Subsidiary Guarantors. 

“Original Effective Date” means February 1, 2017. 

“Other Connection Taxes” means, with respect to any recipient of any payment to be made by or on account of any obligation of
the Borrower hereunder, Taxes imposed as a result of a present or former connection between such recipient and the jurisdiction imposing such Tax (other than connections arising from such recipient having executed, delivered, become a party to,
performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).

  
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 “Other Permitted Indebtedness” means (a) Indebtedness (other than
Indebtedness for borrowed money), including Guarantees of such Indebtedness, arising in connection with transactions in the ordinary course of any Obligor’s business in connection with its purchasing of securities, derivatives transactions,
repurchase agreements or dollar rolls to the extent such transactions are permitted under the Investment Company Act and the Investment Policies, provided that such Indebtedness does not arise in connection with the purchase of Portfolio
Investments other than Cash Equivalents and U.S. Government Securities and (b) Indebtedness in respect of judgments or awards so long as such judgments or awards do not constitute an Event of Default under Section 7.01(l). 

“Other Secured Indebtedness” means, as at any date, Indebtedness (other than Indebtedness hereunder) of an Obligor (which may
be Guaranteed by one (1) or more other Obligors) that: 
 (i) (a) is secured pursuant to the Security Documents as
described in clause (d) of this definition, 
 (b) has no scheduled amortization prior to (other than for amortization
in an amount not greater than 1% of the aggregate initial principal amount of such Indebtedness per annum, provided that amortization in excess of 1% per annum shall be permitted so long as the amount of such amortization in excess
of 1% is permitted to be incurred pursuant to Section 6.01(m) or Section 6.01(n) hereof) and has a final maturity date not earlier than, six (6) months after the Extended Maturity Date (it being understood that (x) none of:
(i) the conversion features into Permitted Equity Interests under convertible notes, (ii) the triggering and/or settlement thereof solely with Permitted Equity Interests, except in the case of interest expense or fractional shares (which
may be payable in cash), (iii) any customary voluntary prepayment provisions permitted by the terms thereof, (iv) any customary mandatory prepayment provisions required by the terms thereof or (v) any mandatory prepayment provisions
as a result of any borrowing base or collateral base deficiency, in any case shall constitute “amortization” for the purposes of this definition, provided that if any mandatory prepayment is required under such Other Secured
Indebtedness constituting a term loan that is not required pursuant to Section 2.10(c) hereof, the Borrower shall offer to repay Loans (and/or provide cover for LC Exposure as specified in Section 2.05(l)) in an amount at least equal to
the aggregate Revolving Credit Exposure’s ratable share (such ratable share being determined based on the outstanding principal amount of the Revolving Credit Exposures as compared to the Other Secured Indebtedness being paid), provided the
Borrower shall only be required to make an offer to repay the Loans (or provide cover for LC Exposure) to the extent of any amounts that the Borrower would not be permitted to borrow as a new Loan hereunder at such time) and (y) any mandatory
amortization that is contingent upon the happening of an event that is not certain to occur (including, without limitation, a change of control or bankruptcy) shall not in and of itself be deemed to disqualify such Indebtedness under this
clause (b); provided, with respect to this clause (b), the Borrower acknowledges that any payment prior to the Extended Maturity Date in respect of any such obligation or right shall only be made to the extent permitted by
Section 6.12, 

  
 38 

 (c) has terms that, taken as a whole, are not materially more
restrictive than market terms for substantially similar debt of other similarly situated borrowers as determined by the Borrower in good faith or, if such transaction is not one in which there are market terms for substantially similar debt of other
similarly situated borrowers, on terms that are negotiated in good faith on an arm’s length basis (provided that, the Obligors may incur any Other Secured Indebtedness that otherwise would not meet the requirements set forth in this
parenthetical of this clause (c) if it has duly made a Modification Offer (whether or not it is accepted by the Required Lenders) (it being understood that put rights or repurchase or redemption obligations (x) in the case of convertible
securities, in connection with the suspension or delisting of the capital stock of the Borrower or the failure of the Borrower to satisfy a continued listing rule with respect to its capital stock or (y) arising out of circumstances that would
constitute a “fundamental change” (as such term is customarily defined in convertible note offerings) or an Event of Default under this Agreement shall not be deemed to be more restrictive for purposes of this definition)), and 

(d) is not secured by any assets of any Obligor other than pursuant to the Security Documents and the holders of which, or
the agent, trustee or representative of such holders have agreed, by executing the joinder attached as Exhibit C to the Guarantee and Security Agreement or otherwise in a manner reasonably satisfactory to the Administrative Agent and the Collateral
Agent, to be bound by the provisions of the Security Documents, or 
 (ii) is permitted pursuant to Section 6.01(m) or
Section 6.01(n) hereof and that has been designated by the Borrower as “Designated Indebtedness” in accordance with the requirements of Section 6.01 of the Guarantee and Security Agreement. “Other Secured Indebtedness”
shall not include any indebtedness arising under any Hedging Agreement. 
 “Other Taxes” means any and all present or
future stamp or documentary taxes or any similar charges or levies arising from any payment made under any Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, any Loan Document, except any such Taxes that
are Other Connection Taxes imposed with respect to an assignment. 
 “Participating Member State” means any member state of
the European Community that adopts or has adopted the Euro as its lawful currency in accordance with the legislation of the European Union relating to the European Monetary Union. 

“Participation Interest” means a participation interest (excluding any sub-participation interests) in an investment that at
the time of acquisition by an Obligor satisfies each of the following criteria: (a) the underlying investment would constitute a Portfolio Investment were it acquired directly by such Obligor, (b) the seller of the participation is an
Excluded Asset, (c) the entire purchase price for such participation is paid in full at the time of its acquisition and (d) the participation provides the participant all of the economic benefit and risk of the whole or part of such
portfolio investment that is the subject of such participation. 
 “Payment Recipient” has the meaning assigned to such
term in Section 8.03(a). 

  
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 “PBGC” means the U.S. Pension Benefit Guaranty Corporation referred to and
defined in ERISA and any successor entity performing similar functions. 
 “Periodic Term SOFR Determination Day” has the
meaning specified in the definition of “Term SOFR”. 
 “Permitted Advisor Loan” means any Indebtedness for
borrowed money of any Obligor that (a) is owed to the Advisor or any Affiliate thereof, (b) has no mandatory amortization prior to, and a final maturity date not earlier than, six months after the Extended Maturity Date, (c) is
permitted by the Investment Company Act, (d) is not secured by any property or assets (whether of any Obligor or any other Person), (e) is on terms and conditions not materially less favorable to such Obligor than could be obtained on an
arm’s-length basis from unrelated third parties and (f) is on terms and conditions that are not materially more restrictive upon such Obligor, while any Commitments or Loans are outstanding hereunder, than those set forth in this Agreement
with respect to such Obligor; provided that, such Obligor may incur any Permitted Advisor Loan that otherwise would not meet the requirements set forth in this clause (f) if it has duly made a Modification Offer (whether or not it is
accepted by the Required Lenders). 
 “Permitted CLO Issuer” means any issuer of CLO Securities (or such entity’s
parent, general partner or other managing entity) that is an Affiliate of the Borrower and has acquired any Investments from an Obligor; provided that: 

(i) no portion of the Indebtedness or any other obligations (contingent or otherwise) of such issuer (i) is Guaranteed by
any Obligor (other than Guarantees in respect of Standard Securitization Undertakings), (ii) is recourse to or obligates any Obligor in any way other than pursuant to Standard Securitization Undertakings or (iii) subjects any property of
any Obligor (other than property that has been contributed or sold, purported to be sold or otherwise transferred to such Subsidiary), directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard
Securitization Undertakings or any Guarantee thereof, 
 (ii) no Obligor has any material contract, agreement, arrangement or
understanding with such issuer (excluding customary sale and contribution agreements) other than on terms, taken as a whole, not materially less favorable to such Obligor than those that might be obtained at the time from Persons that are not
Affiliates of any Obligor, other than fees payable in the ordinary course of business in connection with servicing receivables or financial assets and pursuant to Standard Securitization Undertakings, and 

(iii) to which no Obligor has any obligation to maintain or preserve such issuer’s financial condition or cause such
entity to achieve certain levels of operating results. 
 “Permitted Equity Interests” means any Equity Interest of the
Borrower that is not a Disqualified Equity Interest. 
 “Permitted Indebtedness” means, collectively, Other Secured
Indebtedness and Unsecured Indebtedness. 

  
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 “Permitted Liens” means: (a) Liens imposed by any Governmental
Authority for taxes, assessments or charges not yet due or that are being contested in good faith and by appropriate proceedings if adequate reserves with respect thereto are maintained on the books of the Borrower or any other Obligor in accordance
with GAAP; (b) Liens of clearing agencies, broker-dealers and similar Liens incurred in the ordinary course of business, provided that such Liens (i) attach only to the securities (or proceeds) being purchased or sold and
(ii) secure only obligations incurred in connection with such purchase or sale, and not any obligation in connection with margin financing; (c) Liens imposed by law, such as materialmen’s, mechanics’, carriers’,
workmens’, landlord, storage and repairmen’s Liens and other similar Liens arising in the ordinary course of business and securing obligations (other than Indebtedness for borrowed money); (d) Liens incurred or pledges or deposits
made to secure obligations incurred in the ordinary course of business under workers’ compensation laws, unemployment insurance or other similar social security legislation (other than Liens in respect of employee benefit plans arising under
ERISA) or to secure public or statutory obligations; (e) Liens securing the performance of, or payment in respect of, bids, insurance premiums, deductibles or co-insured amounts, tenders, government or utility contracts (other than for the
repayment of borrowed money), surety, stay, customs and appeal bonds and other obligations of a similar nature incurred in the ordinary course of business, provided that all Liens on any Collateral included in the Borrowing Base that are
permitted pursuant to this clause (e) shall have a priority that is junior to the Liens under the Security Documents; (f) Liens arising out of judgments or awards that have been in force for less than the applicable period for taking an
appeal so long as such judgments or awards do not constitute an Event of Default under Section 7.01(l); (g) customary rights of setoff, banker’s lien, security interest or other like right upon (i) deposits of cash in favor of
banks or other depository institutions in which such cash is maintained in the ordinary course of business, (ii) cash and financial assets held in securities accounts in favor of banks and other financial institutions with which such accounts
are maintained in the ordinary course of business and (iii) assets held by a custodian in favor of such custodian in the ordinary course of business securing payment of fees, indemnities, charges for returning items and other similar
obligations; provided that, such rights in clauses (i) and (ii) are subordinated to the Lien of the Collateral Agent, pursuant to the terms of a Control Agreement (as defined in the Guarantee and Security Agreement); (h) Liens
arising solely from precautionary filings of financing statements under the Uniform Commercial Code of the applicable jurisdictions in respect of operating leases entered into by the Borrower or any of its Subsidiaries in the ordinary course of
business; (i) deposits of money that are not Collateral securing leases to which the obligor is a party as the lessee made in the ordinary course of business; (j) easements, rights of way, zoning restrictions and similar encumbrances on
real property and minor irregularities in the title thereto that do not interfere with or affect in any material respect the ordinary course conduct of the business of the Borrower or any of its Subsidiaries; (k) Liens in favor of any escrow
agent solely on and in respect of any cash earnest money deposits made by any Obligor in connection with any letter of intent or purchase agreement (to the extent that the acquisition or disposition with respect thereto is otherwise not prohibited
hereunder); (l) precautionary Liens, and filings of financing statements under the Uniform Commercial Code, covering assets purported to be sold or contributed to any Person not prohibited hereunder; and (m) any restrictions on the sale or
disposition of assets arising from a loan sale agreement between or among one or more Obligors with one or more Designated Subsidiaries or Permitted CLO Issuers; provided such restrictions with respect to this clause (m) do not adversely
affect the enforceability of the Collateral Agent’s first-priority security interest on any Collateral. 

  
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 “Permitted SBIC Guarantee” means a guarantee by one (1) or more
Obligors of Indebtedness of an SBIC Subsidiary on the SBA’s then applicable form (or the applicable form at the time such guarantee was entered into). 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Plan” means any “employee pension benefit plan” (as
defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which the Borrower or any ERISA
Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

“Plan Asset Regulations” means U.S. Department of Labor (“DOL”) regulation 29 C.F.R. § 2510.3-101, as
modified by Section 3(42) of ERISA. 
 “Portfolio Investment” means any Investment (including a Participation
Interest) held by the Obligors in their asset portfolio (and solely for purposes of determining the Borrowing Base, and of Sections 6.02(d) and 6.04(d) and Section 7.01(p), Cash and Cash Equivalents, excluding Cash pledged as cash
collateral for Letters of Credit). Without limiting the generality of the foregoing, it is understood and agreed that (A) any Portfolio Investments that have been contributed or sold, purported to be contributed or sold or otherwise transferred
to any Excluded Asset, or held by any Immaterial Subsidiary or Controlled Foreign Corporation that is not a Subsidiary Guarantor, shall not be treated as Portfolio Investments, and (B) any Investment in which any Obligor has sold a
participation therein to a Person that is not an Obligor shall not be treated as a Portfolio Investment to the extent of such participation. Notwithstanding the foregoing, nothing herein shall limit the provisions of Section 5.12(b)(i), which
provides that, for purposes of this Agreement, all determinations of whether an investment is to be included as a Portfolio Investment shall be determined on a settlement-date basis (meaning that any investment that has been purchased will not be
treated as a Portfolio Investment until such purchase has settled, and any Portfolio Investment which has been sold will not be excluded as a Portfolio Investment until such sale has settled), provided that no such investment shall be
included as a Portfolio Investment to the extent it has not been paid for in full. 
 “Prime Rate” means the rate which is
quoted as the “prime rate” in the print edition of The Wall Street Journal, Money Rates Section. 
 “Principal
Financial Center” means, in the case of any Currency, the principal financial center where such Currency is cleared and settled, as determined by the Administrative Agent. 

“Pro-Rata Borrowing” has the meaning assigned to such term in Section 2.03(a). 

“Pro-Rata Dollar Portion” means, in connection with any Pro-Rata Borrowing, an amount equal to (i) the aggregate amount
of such Pro-Rata Borrowing multiplied by (ii) the aggregate Dollar Commitments of all Dollar Lenders then in effect at such time divided by (iii) the aggregate Revolving Commitments of all Lenders then in effect at such time. 

  
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 “Pro-Rata Multicurrency Portion” means, in connection with any Pro-Rata
Borrowing, an amount equal to (i) the aggregate amount of such Pro-Rata Borrowing multiplied by (ii) the aggregate Multicurrency Commitments of all Multicurrency Lenders then in effect at such time divided by (iii) the aggregate
Revolving Commitments of all Lenders then in effect at such time. 
 “PTE” means a prohibited transaction class exemption
issued by the U.S. Department of Labor, as any such exemption may be amended from time to time. 
 “QFC” has the meaning
assigned to the term “qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D). 

“Quarterly Dates” means the last Business Day of March, June, September and December in each year, commencing on
September 30, 2022, unless otherwise specified. 
 “Quoted Investments” has the meaning assigned to such term in
Section 5.12(b)(ii)(A). 
 “Register” has the meaning assigned to such term in Section 9.04(c). 

“Regulations T, U and X” means, respectively, Regulations T, U and X of the Board, as the same may be
modified and supplemented and in effect from time to time. 
 “Reinvestment Agreement” means a guaranteed reinvestment
agreement from a bank, insurance company or other corporation or entity, in each case, at the date of such acquisition having a credit rating of at least A-1 from S&P and at least P-1 from Moody’s; provided that such agreement
provides that it is terminable by the purchaser, without penalty, if the rating assigned to such agreement by either S&P or Moody’s is at any time lower than such ratings. 

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

“Relevant Asset Coverage Ratio” means, as of any date, the Asset Coverage Ratio as of the most recent Quarterly Date. 

“Relevant Governmental Body” means (a) with respect to a Benchmark Replacement in respect of Secured Obligations,
interest, fees, commissions or other amounts denominated in, or calculated with respect to, Dollars, the Board or the NYFRB, or a committee officially endorsed or convened by the Board or the NYFRB, or any successor thereto, (b) with respect to
a Benchmark Replacement in respect of Secured Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to, GBP, the Bank of England, or a committee officially endorsed or convened by the Bank of England
or, in each case, any successor thereto, (c) with respect to a Benchmark Replacement in respect of Secured Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to, Euro, the European Central Bank,
or a committee officially endorsed or convened by the European Central Bank or, in each case, any successor thereto and (d) with respect to a Benchmark Replacement in respect of Secured Obligations, interest, fees, commissions or other amounts
denominated in, or calculated with respect to, any Agreed Foreign Currency (other than GBP or Euro), (1) the central bank for the Currency in which such Secured Obligations, interest, fees, commissions or other amounts are

  
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denominated, or calculated with respect to, or any central bank or other supervisor which is responsible for supervising either (A) such Benchmark Replacement or (B) the administrator
of such Benchmark Replacement or (2) any working group or committee officially endorsed or convened by (A) the central bank for the Currency in which such Secured Obligations, interest, fees, commissions or other amounts are denominated,
or calculated with respect to, (B) any central bank or other supervisor that is responsible for supervising either (i) such Benchmark Replacement or (ii) the administrator of such Benchmark Replacement, (C) a group of those
central banks or other supervisors or (D) the Financial Stability Board or any part thereof. 
 “Relevant Rate” means
(a) with respect to any Term Benchmark Borrowing denominated in Dollars, Term SOFR, (b) with respect to any Term Benchmark Borrowing denominated in CAD, the CDO Rate, (c) with respect to any Term Benchmark Borrowing denominated in
Euro, the Adjusted EURIBO Rate, (d) with respect to any Term Benchmark Borrowing denominated in AUD, the AUD Rate, (e) with respect to any Term Benchmark Borrowing denominated in JPY, the TIBOR Rate, (f) with respect to any Term
Benchmark Borrowing denominated in SEK, the STIBOR Rate and (g) with respect to any Term Benchmark Borrowing denominated in NZD, the BKBM Rate. 

“Relevant Screen Rate” means (a) with respect to any Borrowing denominated in Dollars, the Term SOFR Screen Rate,
(b) with respect to any Borrowing denominated in CAD, the CAD Screen Rate, (c) with respect to any Borrowing denominated in Euros, the EURIBO Screen Rate, (d) with respect to any Borrowing denominated in AUD, the AUD Screen Rate,
(e) with respect to any Borrowing denominated in JPY, the TIBOR Screen Rate, (f) with respect to any Borrowing denominated in SEK, the STIBOR Screen Rate and (g) with respect to any Borrowing denominated in NZD, the BKBM Screen Rate.

 “Required Lenders” means, at any time, Lenders having Credit Exposures and unused Commitments representing more than 50%
of the sum of the total Credit Exposures and unused Commitments at such time; provided that the Credit Exposure and unused Commitments of any Defaulting Lender shall be disregarded in the determination of Required Lenders. The Required
Lenders of a Class means Lenders having Credit Exposures and unused Commitments of such Class representing more than 50% of the sum of the total Credit Exposures and unused Commitments of such Class at such time. For purposes of this definition, the
Swingline Exposure of any Revolving Lender that is a Swingline Lender shall be deemed to exclude that portion of its Swingline Exposure that exceeds its Applicable Dollar Percentage or Applicable Multicurrency Percentage, as applicable, of all
outstanding Swingline Loans under its Class of Commitments, and the unused Commitments of any such Revolving Lender shall be determined without regard to any such excess amount. 

“Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution
Authority. 
 “Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property)
with respect to any shares of any class of capital stock of the Borrower or any other Obligor, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption,
retirement, acquisition, cancellation or termination of any such shares of capital stock of the Borrower or any option, 

  
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warrant or other right to acquire any such shares of capital stock of the Borrower, provided, for the avoidance of doubt, neither the conversion or settlement of convertible debt into
capital stock nor the purchase, redemption, retirement, acquisition, cancellation or termination of convertible debt made solely with capital stock (other than interest or expenses or fractional shares, which may be payable in cash) shall be a
Restricted Payment hereunder. 
 “Return of Capital” means (a) any net cash amount received by any Obligor in respect
of the outstanding principal of any Portfolio Investment (whether at stated maturity, by acceleration or otherwise), but not including any prepayment of a revolver that does not permanently reduce the related commitments, (b) without
duplication of amounts received under clause (a), any net cash proceeds received by any Obligor from the sale of any property or assets pledged as collateral in respect of any Portfolio Investment to the extent such net cash proceeds are less than
or equal to the outstanding principal balance of such Portfolio Investment, (c) any net cash amount received by any Obligor in respect of any Portfolio Investment that is an Equity Interest (x) upon the liquidation or dissolution of the
issuer of such Portfolio Investment, (y) as a distribution of capital made on or in respect of such Portfolio Investment, or (z) pursuant to the recapitalization or reclassification of the capital of the issuer of such Portfolio Investment
or pursuant to the reorganization of such issuer or (d) any similar return of capital received by any Obligor in cash in respect of any Portfolio Investment (in the case of clauses (a), (b), (c) and (d), net of any fees, costs,
commissions, premiums, expenses and taxes payable or reasonably estimated to be payable with respect thereto (including reasonable legal fees and expenses). 

“Revaluation Date” means (a) with respect to any Loan denominated in an Agreed Foreign Currency, each of the following:
(i) each date of a Borrowing of a Loan, (ii) each date of a continuation of a Term Benchmark Loan, (iii) with respect to any RFR Loan, each date that is on the numerically corresponding day in each calendar month that is three months
after the Borrowing of such Loan (or, if there is no such numerically corresponding day in such month, then the last day of such month); and (iv) such additional dates as the Administrative Agent shall reasonably and in good faith determine or
the Required Lenders shall reasonably and in good faith require; provided that such determination or requirement under this subclause (iv) with respect to any Loan denominated in any Agreed Foreign Currency, shall not result in the occurrence
of a Revaluation Date more frequently than monthly; and (b) with respect to any Letter of Credit denominated in an Agreed Foreign Currency, each of the following: (i) each date of issuance of a Letter of Credit, (ii) each date of an
amendment of any Letter of Credit denominated in an Agreed Foreign Currency having the effect of increasing the amount thereof, (iii) each date of any payment by the applicable Issuing Bank under any Letter of Credit denominated in an Agreed
Foreign Currency, and (iv) such additional dates as the Administrative Agent or the applicable Issuing Bank shall reasonably and in good faith determine or the Required Lenders shall reasonably and in good faith require; provided that such
determination or requirement under this subclause (iv) shall not result in the occurrence of a Revaluation Date more frequently than monthly. 

“Revolving Commitments” means, collectively, the Dollar Commitments and the Multicurrency Commitments. 

“Revolving Credit Exposure” means, with respect to any Lender at any time, the sum of such Lender’s Revolving Dollar
Credit Exposure and Revolving Multicurrency Credit Exposure at such time. 

  
 45 

 “Revolving Dollar Credit Exposure” means, with respect to any Lender at any
time, the sum of such Lender’s Dollar LC Exposure, such Lender’s Swingline Exposure and the outstanding principal amount of such Lender’s Loans, at such time made or incurred under the Dollar Commitments. 

“Revolving Lenders” means the Dollar Lenders and the Multicurrency Lenders. 

“Revolving Loans” means the revolving loans made by the Lenders to the Borrower pursuant to
Section 2.01(a) or (b). 
 “Revolving Multicurrency Credit Exposure” means, with respect to any Lender at
any time, the sum of such Lender’s Multicurrency LC Exposure, such Lender’s Swingline Exposure and the outstanding principal amount of such Lender’s Loans, at such time made or incurred under the Multicurrency Commitments. 

“RFR”, when used in reference to any Loan or Borrowing, refers to whether such Loan is, or the Loans constituting such
Borrowing are, bearing interest at a rate determined by reference to Daily Simple RFR. 
 “RFR Administrator” means the
SONIA Administrator or the SARON Administrator, as applicable. 
 “RFR Applicable Credit Adjustment Spread” means,
(a) with respect to RFR Loans denominated in GBP, (i) with an Interest Period of one month, 0.0326%, and (ii) with an Interest Period of three months, 0.1193%, and (b) with respect to RFR Loans denominated in CHF, (i) with
an Interest Period of one month, -0.0571% and (ii) with an Interest Period of three months, 0.0031%. 
 “RFR Business
Day” means, for any RFR Loan denominated in (a) GBP, any day except for (i) a Saturday or a Sunday and (ii) a day on which banks are closed for general business in London and (b) CHF, any day except for (i) a
Saturday or a Sunday and (ii) a day on which banks are closed for the settlement of payments and foreign exchange transactions in Zurich. 

“RFR Interest Day” has the meaning specified in the definition of “Daily Simple RFR”. 

“RFR Rate” means, for any Loans, Borrowings, interest, fees, commissions or other amounts denominated in, or calculated with
respect to (a) GBP, SONIA, and (b) CHF, SARON. 
 “RFR Reference Day” has the meaning specified in the definition
of “Daily Simple RFR”. 
 “RIC” means a person qualifying for treatment as a “regulated investment
company” under the Code. 
 “S&P” means S&P Global Ratings, a division of S&P Global Inc., a New York
corporation, or any successor thereto. 

  
 46 

 “Sanctioned Country” means, at any time, a country, region or territory
which is itself the subject or target of comprehensive Sanctions (as of the Effective Date, Cuba, the Crimea, the so-called Donetsk and so-called Luhansk regions of Ukraine, Iran, North Korea and Syria). 

“Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons
maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State or by the United Nations Security Council, the European Union or any European Union member state, (b) any Person organized
or resident in a Sanctioned Country or (c) any Person owned or controlled by any such Person or Persons described in the foregoing clause (a) or (b). For purposes of this definition, “Person” shall include a vessel. 

“Sanctions” means all economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time
by the United States of America (including the Office of Foreign Assets Control of the U.S. Department of the Treasury and the U.S. Department of State), the United Nations Security Council, the European Union or any member state thereof, Her
Majesty’s Treasury of the United Kingdom, Japan or any other relevant sanctions authority having jurisdiction over the Borrower or its Subsidiaries or any Lender. 

“SARON” means a rate equal to the Swiss Average Rate Overnight as administered by the SARON Administrator. 

“SARON Administrator” means the SIX Swiss Exchange AG (or any successor administrator of the Swiss Average Rate Overnight).

 “SARON Administrator’s Website” means SIX Swiss Exchange AG’s website, currently at https://www.six-group.com,
or any successor source for the Swiss Average Rate Overnight identified as such by the SARON Administrator from time to time. 

“SBA” means the United States Small Business Administration or any Governmental Authority succeeding to any or all of the
functions thereof. 
 “SBIC Equity Commitment” means a commitment by any Obligor to make one (1) or more capital
contributions to an SBIC Subsidiary. 
 “SBIC Subsidiary” means (i) any direct or indirect wholly-owned Subsidiary
(including such Subsidiary’s general partner or managing entity to the extent that the only material asset of such general partner or managing entity is its Equity Interest in the SBIC Subsidiary) of any Obligor licensed as a small business
investment company under the Small Business Investment Act of 1958, as amended (or that has applied for such a license and is actively pursuing the granting thereof by appropriate proceedings promptly instituted and diligently conducted), or
(ii) any wholly-owned, directly or indirectly, Subsidiary of an entity referred to in clause (i) of this definition, and which is designated by the Borrower (pursuant to a certificate of a Financial Officer delivered to the Administrative
Agent) as an SBIC Subsidiary. 
 “SEC” means the United States Securities and Exchange Commission. 

  
 47 

 “Secured Obligations” has the meaning assigned to such term in the
Guarantee and Security Agreement. The Secured Obligations shall include, without duplication of the primary rights and interests of the applicable Secured Parties, Erroneous Payment Subrogation Rights and Collateral Agent Erroneous Payment
Subrogation Rights (as defined in the Guarantee and Security Agreement) but exclude Excluded Swap Obligations. 
 “Secured
Party” has the meaning assigned to such term in the Guarantee and Security Agreement. 
 “Security Documents”
means, collectively, the Guarantee and Security Agreement and all other assignments, pledge agreements, security agreements, intercreditor agreements, control agreements and other instruments, in each case, executed and delivered at any time by any
of the Obligors pursuant to the Guarantee and Security Agreement or otherwise providing or relating to any collateral security for any of the Secured Obligations. 

“SEK” denotes the lawful currency of Sweden. 

“Senior Securities” means senior securities (as such term is defined and determined pursuant to the Investment Company Act
and any orders of the SEC issued to the Borrower thereunder). 
 “Shareholders’ Equity” means, at any date, the amount
determined on a consolidated basis, without duplication, in accordance with GAAP, of shareholders’ equity for the Borrower and its Subsidiaries at such date. 

“Shorter Term Secured Indebtedness” means, collectively, (a) any Indebtedness of an Obligor (which may be Guaranteed by
any other Obligor) that is secured by any assets of any Obligor and that does not constitute Other Secured Indebtedness, (b) any Indebtedness of an Obligor that is not secured by any assets of any Obligor other than pursuant to this Agreement
or the Security Documents and the holders of which (or an authorized agent, representative or trustee of such holders) have either executed (i) a joinder agreement to the Guarantee and Security Agreement or (ii) such other document or
agreement, in a form reasonably satisfactory to the Administrative Agent and the Collateral Agent, pursuant to which the holders (or an authorized agent, representative or trustee of such holders) of such Shorter Term Secured Indebtedness shall have
become a party to the Guarantee and Security Agreement and assumed the obligations of a Financing Agent or Designated Indebtedness Holder (in each case, as defined in the Guarantee and Security Agreement) and (c) any Indebtedness that is
designated as “Shorter Term Secured Indebtedness” by the Borrower. “Shorter Term Secured Indebtedness” shall not include any Indebtedness arising under any Hedging Agreement. 

“Shorter Term Unsecured Indebtedness” means (a) (i) all unsecured indebtedness issued after the Effective Date that
has a maturity date earlier than six (6) months after the Extended Maturity Date except to the extent such unsecured indebtedness constitutes Special Longer Term Unsecured Indebtedness, and (ii) an initial term of at least 3 years as of
the issuance date (or, so long as such date is no more than ten (10) Business Days earlier than such issuance date, the initial pricing date), and (b) any Excess Special Longer Term Unsecured Indebtedness, in each case, which may be
Guaranteed by one (1) or more other Obligors. 

  
 48 

 “Significant Subsidiary” means (a) any Obligor or (b) any other
Subsidiary that, on a consolidated basis with its Subsidiaries, has aggregate assets or aggregate revenues greater than the greater of $50,000,000 and 5% of the aggregate assets or aggregate revenues of the Borrower and its Subsidiaries, taken as a
whole, as of the end of the most recent fiscal quarter in respect of which financial statements have been delivered pursuant to Section 5.01(a) or (b), as applicable. 

“SOFR” means a rate per annum equal to the secured overnight financing rate as administered by the SOFR Administrator. 

“SOFR Administrator” means the NYFRB (or a successor administrator of the secured overnight financing rate). 

“SOFR Administrator’s Website” means the website of the NYFRB, 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. 
 “SONIA”
means a rate equal to the Sterling Overnight Index Average as administered by the SONIA Administrator. 
 “SONIA
Administrator” means the Bank of England (or any successor administrator of the sterling overnight index average). 

“SONIA Administrator’s Website” means the Bank of England’s website, currently at http://www.bankofengland.co.uk,
or any successor source for the sterling overnight index average identified as such by the SONIA Administrator from time to time. 

“Special Equity Interest” means any Equity Interest that is subject to a Lien in favor of creditors of the issuer or such
issuer’s affiliates of such Equity Interest, provided that (a) such Lien was created to secure Indebtedness owing by such issuer to such creditors, (b) such Indebtedness was (i) in existence at the time the Obligors
acquired such Equity Interest, (ii) incurred or assumed by such issuer substantially contemporaneously with such acquisition or (iii) already subject to a Lien granted to such creditors and (c) unless such Equity Interest is not
intended to be included in the Collateral, the documentation creating or governing such Lien does not prohibit the inclusion of such Equity Interest in the Collateral. 

“Special Longer Term Unsecured Indebtedness” means indebtedness issued after the Effective Date that is Indebtedness (which
may be Guaranteed by one (1) or more other Obligors) that satisfies all of the criteria specified in the definition of “Unsecured Indebtedness” other than clause (a) thereof so long as such Indebtedness has a final maturity date
at least four years from the date of the initial issuance (or, so long as such date is no more than ten (10) Business Days earlier than such issuance date, the initial pricing date) of such Indebtedness and occurs after the Extended Maturity
Date. 
 “Specified Default” means any Default (other than a Contingent Borrowing Base Deficiency for which the grace
and/or cure period in Section 2.10(c)(ii) has not expired). 
 “Specified Purchase” has the meaning assigned to such
term in Section 2.08(e)(i)(E). 

  
 49 

 “Specified Purchase Agreement Representations” means such of the
representations made by or with respect to a Specified Target, its Subsidiaries and their respective businesses in the definitive documentation governing the applicable Specified Purchase (the “Specified Purchase Agreement”) as are
material to the interests of the Lenders, but only to the extent that the Borrower or its Affiliates shall have the right to terminate its obligations under the applicable Specified Purchase Agreement as a result of a breach of such representations
in the applicable Specified Purchase Agreement without expense (as determined without regard to any notice requirement and without giving effect to any waiver, amendment or other modification thereto that is materially adverse to the interests of
the Lenders (as reasonably determined by the Administrative Agent), unless the Administrative Agent shall have consented thereto (such consent not to be unreasonably withheld, delayed or conditioned)). 

“Specified Representations” means the representations and warranties of the Borrower set forth in Section 3.01 (relating
to corporate existence and corporate power and authority of the Obligors); Section 3.02 (relating to enforceability of the Loan Documents); Section 3.03(b) (relating to no conflicts with organizational documents (limited to the execution,
delivery and performance of the Loan Documents, incurrence of Indebtedness thereunder and the granting of guarantees and security interests in respect thereof)); Section 3.07; Section 3.11; and Section 3.16. 

“Specified Target” has the meaning assigned to such term in Section 2.08(e)(i)(E). 

“Standard Securitization Undertakings” means, collectively, (a) customary arms-length servicing obligations (together
with any related performance guarantees), (b) obligations (together with any related performance guarantees) to refund the purchase price or grant purchase price credits for dilutive events or misrepresentations (in each case unrelated to the
collectability of the assets sold or the creditworthiness of the associated account debtors), (c) representations, warranties, covenants and indemnities (together with any related performance guarantees) of a type that are reasonably customary
in commercial loan securitizations, accounts receivable securitizations, securitizations of financial assets or loans to special purpose vehicles, including those owed to customary third-party service providers in connection with such transactions,
such as rating agencies and accountants and (d) obligations (together with any related performance guarantees) under any customary bad boy guarantee. 

“Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is the number one (1) and the
denominator of which is the number one (1) minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board of Governors to which the
Administrative Agent is subject for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board of Governors). Such reserve percentages shall include those imposed pursuant to such Regulation D.
Term Benchmark Loans denominated in Euros shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to
any Lender under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 

  
 50 

 “STIBOR Rate” means, with respect to any Interest Period, the rate per
annum equal to the Stockholm Interbank Offered Rate or a successor thereto approved by the Administrative Agent (“STIBOR”) as published by Reuters (or such other page or commercially available source providing STIBOR quotations as
may be designated by the Administrative Agent from time to time in its reasonable discretion) at or about 11:00 a.m. (Stockholm, Sweden time) on the day that is two Term Benchmark Banking Days for SEK prior to the first day of the Interest Period
(or if such day is not a Term Benchmark Banking Days for SEK, then on the immediately preceding Term Benchmark Banking Days for SEK) with a term equivalent to such Interest Period (the “STIBOR Screen Rate”). If the STIBOR Rate shall
be less than zero (0.00%), the STIBOR Rate shall be deemed to be zero (0.00% for purposes of this Agreement. 
 “STIBOR Screen
Rate” has the meaning assigned to such term in the definition of “STIBOR Rate”. 
 “Subsidiary” means,
with respect to any Person (the “parent”) at any date, any corporation, limited liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s
consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity (a) of which securities
or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held,
or (b) that is, as of such date, otherwise Controlled, by the parent or one (1) or more subsidiaries of the parent or by the parent and one (1) or more subsidiaries of the parent. Anything herein to the contrary notwithstanding, the
term “Subsidiary” shall not include any Person that constitutes an Investment held by any Obligor in the ordinary course of business and that is not, under GAAP (as in effect on the Effective Date), consolidated on the financial statements
of the Borrower and its Subsidiaries. Unless otherwise specified, “Subsidiary” means a Subsidiary of the Borrower. 

“Subsidiary Guarantor” means any Domestic Subsidiary of the Borrower that is a Guarantor under the Guarantee and Security
Agreement. It is understood and agreed that Excluded Assets, Immaterial Subsidiaries and Controlled Foreign Corporations shall not be required to be Subsidiary Guarantors. 

“Supported QFC” has the meaning assigned to such term in Section 9.17. 

“Swap Obligation” means, with respect to any Guarantor, any obligation to pay or perform under any Hedging Agreement that
constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act. 
 “Swingline
Exposure” means, at any time, the aggregate principal amount of all Swingline Loans outstanding at such time. The Swingline Exposure of any Lender at any time shall be the sum of (a)(i) in the case of any Dollar Lender, its Applicable
Dollar Percentage of the total Swingline Exposure incurred under the Dollar Commitments at such time or (ii) in the case of any Multicurrency Lender, its Applicable Multicurrency Percentage of the total Swingline Exposure incurred under the
Multicurrency Commitments at such time (excluding, for purpose of this clause (a), in the case of any Lender that is a Swingline Lender, Swingline Loans made by it that are 

  
 51 

 
outstanding at such time to the extent that the other Lenders under such Lender’s Class of Commitments shall not have funded their participations in such Swingline Loans), adjusted, in each
case, to give effect to any reallocation under Section 2.18 of the Swingline Exposure of Defaulting Lenders in effect at such time, plus (b) in the case of any Lender that is a Swingline Lender, the aggregate principal amount of all
Swingline Loans made by such Lender outstanding at such time, less the amount of participations funded by the other Lenders under such Lender’s Class of Commitments in such Swingline Loans. 

“Swingline Lender” means Truist Bank, ING Capital LLC, MUFG Union Bank, N.A., Sumitomo Mitsui Banking Corporation, State
Street Bank and Trust Company, Wells Fargo Bank, National Association, Santander Bank, N.A. and each additional Swingline Lender designated pursuant to Section 2.04(e), each in its capacity as lender of Swingline Loans hereunder. 

“Swingline Loan” means a Loan made pursuant to Section 2.04. 

“TARGET Day” means any day on which the Trans-European Automated Real-time Gross Settlement Express Transfer payment system
(or any successor settlement system as determined by the Administrative Agent to be a suitable replacement) is open for the settlement of payments in Euro. 

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

“Term Benchmark”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans constituting
such Borrowing, are bearing interest at a rate determined by reference to Term SOFR, the CDO Rate, the Adjusted EURIBO Rate, the AUD Rate, the TIBOR Rate, the STIBOR Rate or the BKBM Rate. 

“Term Benchmark Banking Day” means for Term Benchmark Loans, Term Benchmark Borrowings, interest, fees, commissions or other
amounts denominated in, or calculated with respect to: 
 (a) Dollars, a U.S. Government Securities Business Day; 

(b) Euro, a TARGET Day; 
 (c)
CAD, any day (other than a Saturday or Sunday) on which banks are open for business in Toronto, Canada; 
 (d) AUD, any day (other than a
Saturday or Sunday) on which banks are open for business in Melbourne, Australia; 
 (e) JPY, any day (other than a Saturday or Sunday) on
which banks are open for business in Tokyo, Japan; 
 (f) SEK, any day (other than a Saturday or Sunday) on which banks are open for
business in Stockholm, Sweden; or 

  
 52 

 (g) NZD, any day (other than a Saturday or Sunday) on which banks are open for business in
Auckland, New Zealand. 
 “Term SOFR” means, 

(a) for any calculation with respect to a Term Benchmark Loan for any Interest Period, the sum of (i) Term SOFR Credit Adjustment Spread
for Term Benchmark Loans for such Interest Period and (ii) the Term SOFR Reference Rate for a tenor comparable to the applicable Interest Period on the day (such day, the “Periodic Term SOFR Determination Day”) that is two
(2) U.S. Government Securities Business Days prior to the first day of such Interest Period, as such rate is published by the Term SOFR Administrator (the “Term SOFR Screen Rate”); provided, that if as of 5:00 p.m. (New
York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has
not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was
published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Periodic Term SOFR Determination Day, and 

(b) for any calculation with respect to an ABR Loan on any day, the sum of (i) Term SOFR Credit Adjustment Spread for Term Benchmark
Loans for an Interest Period of one month and (ii) the Term SOFR Reference Rate for a tenor of one month on the day (such day, the “Base Rate Term SOFR Determination Day”) that is two (2) U.S. Government Securities
Business Days prior to such day, as such rate is published by the Term SOFR Administrator; provided that if as of 5:00 p.m. on any Base Rate Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been
published by the Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator
on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more
than three (3) U.S. Government Securities Business Days prior to such Base Rate Term SOFR Determination Day; 
 provided, that if Term SOFR
determined as provided above (including pursuant to the proviso under clause (a) or (b) above) shall ever be less than zero, then Term SOFR shall be deemed to be zero. 

“Term SOFR Administrator” means CME Group Benchmark Administration Limited (CBA) (or a successor administrator of the Term
SOFR Reference Rate selected by the Administrative Agent in its reasonable discretion). 
 “Term SOFR Credit Adjustment
Spread” means, with respect to Term Benchmark Loans denominated in Dollars, (i) with an Interest Period of one month, 0.10%, (ii) with an Interest Period of three months, 0.15% and (iii) with an Interest Period of six months,
0.25%. 

  
 53 

 “Term SOFR Reference Rate” shall mean the forward-looking term rate based
on SOFR. 
 “Term SOFR Screen Rate” has the meaning specified in the definition of “Term SOFR”. 

“TIBOR Rate” means, with respect to any Interest Period, the rate per annum equal to the Tokyo Interbank Offered Rate as
administered by the Ippan Shadan Hojin JBA TIBOR Administration (or any other Person that takes over the administration of such rate) for a period equal in length to such Interest Period, as displayed on the applicable Bloomberg page (or on any
successor or substitute page or service providing such quotations as determined by the Administrative Agent from time to time in its reasonable discretion) at approximately 11:00 a.m. (Tokyo time) two Term Benchmark Banking Days for Japanese Yen
prior to the first day of such Interest Period (the “TIBOR Screen Rate”). If the TIBOR Rate shall be less than zero (0.00%), the TIBOR Rate shall be deemed to be zero (0.00%) for purposes of this Agreement. 

“TIBOR Screen Rate” has the meaning assigned to such term in the definition of “TIBOR Rate”. 

“Transactions” means the execution, delivery and performance by the Borrower of this Agreement and the other Loan Documents,
the borrowing of Loans, the use of the proceeds thereof and the issuance of Letters of Credit hereunder. 
 “Transferred
Assets” has the meaning assigned to such term in Section 6.03(i). 
 “Type”, when used in reference to any
Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans constituting such Borrowing, is determined by reference to the Alternate Base Rate, the Daily Simple RFR, Term SOFR, the CDO Rate, the Adjusted EURIBO Rate, the
AUD Rate, the TIBOR Rate, the STIBOR Rate or the BKBM Rate. 
 “UK Financial Institution” means any BRRD Undertaking (as
such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by
the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms. 

“UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for
the resolution of any UK Financial Institution. 
 “Unadjusted Benchmark Replacement” means the applicable Benchmark
Replacement excluding the related Benchmark Replacement Adjustment. 
 “Unasserted Contingent Obligations” means all
(i) unasserted contingent indemnification obligations not then due and payable and (ii) unasserted expense reimbursement obligations not then due and payable. For the avoidance of doubt, “Unasserted Contingent Obligations” shall
not include any reimbursement obligations in respect of any Letter of Credit. 
 “Uniform Commercial Code” means the
Uniform Commercial Code as in effect from time to time in the State of New York. 

  
 54 

 “Unquoted Investments” has the meaning assigned to such term in
Section 5.12(b)(ii)(B). 
 “Unsecured Indebtedness” means, as of any date, (1) any Permitted Advisor Loan (which
may be Guaranteed by one or more other Obligors) and (2) Indebtedness of an Obligor (which may be Guaranteed by one (1) or more other Obligors) that: 

(a) has no scheduled amortization prior to (other than for amortization in an amount not greater than 1% of the aggregate
initial principal amount of such Indebtedness per annum, provided that amortization in excess of 1% per annum shall be permitted so long as the amount of such amortization in excess of 1% is permitted to be incurred pursuant to
Section 6.01(b), 6.01(i), 6.01(m) or 6.01(n) hereof), and a final maturity date not earlier than, six (6) months after the Extended Maturity Date (it being understood that (i) none of (w) the conversion features into Permitted
Equity Interests under convertible notes, (x) the triggering and/or settlement thereof solely with Permitted Equity Interests, except in the case of interest expense or fractional shares (which may be payable in cash), (y) any customary
mandatory prepayment provisions required by the terms thereof or (z) any customary voluntary prepayment provisions permitted by the terms thereof, shall constitute “amortization” for the purposes of this definition and (ii) any
mandatory amortization that is contingent upon the happening of an event that is not certain to occur (including, without limitation, a change of control or bankruptcy) shall not in and of itself be deemed to disqualify such Indebtedness under this
clause (a); provided, with respect to this clause (ii), the Borrower acknowledges that any payment prior to the Extended Maturity Date in respect of any such obligation or right shall only be made to the extent permitted by
Section 6.12 and immediately upon such contingent event occurring the amount of such mandatory amortization shall be included in the Covered Debt Amount); 

(b) is incurred pursuant to terms that are substantially comparable to (or more favorable to the Borrower than) market terms
for substantially similar debt of other similarly situated borrowers as reasonably determined by the Borrower in good faith or, if such transaction is not one in which there are market terms for substantially similar debt of other similarly situated
borrowers, on terms that are negotiated in good faith on an arm’s length basis; provided that, the Obligors may incur any Unsecured Indebtedness that otherwise would not meet the requirements set forth in this clause (b) if it has
duly made a Modification Offer (whether or not it is accepted by the Required Lenders) (it being understood that put rights or repurchase or redemption obligations (i) in the case of convertible securities, in connection with the suspension or
delisting of the capital stock of the Borrower or the failure of the Borrower to satisfy a continued listing rule with respect to its capital stock or (ii) arising out of circumstances that would constitute a “fundamental change” (as
such term is customarily defined in convertible note offerings) or an Event of Default under this Agreement shall not be deemed to be more restrictive for purposes of this definition); and 

(c) is not secured by any assets of any Obligor. 

  
 55 

 For the avoidance of doubt, Unsecured Indebtedness shall also include any refinancing,
refunding, renewal or extension of any Unsecured Indebtedness so long as such refinanced, refunded, renewed or extended Indebtedness continues to satisfy the requirements of this definition. Notwithstanding the foregoing, the term Unsecured
Indebtedness shall include any Disqualified Equity Interests so long as the Borrower is not permitted or required to purchase, redeem, retire, acquire, cancel or terminate any such Equity Interest (other than (x) as a result of a change of
control or asset sale or (y) in connection with any purchase, redemption, retirement, acquisition, cancellation or termination with, or in exchange for, Equity Interest) prior to the date that is six months after the Extended Maturity Date.

 Notwithstanding the foregoing, each of the 2024 Notes, 2025 July Notes, 2025 March Notes, 2026 January Notes,
2026 July Notes and 2027 Notes shall be deemed Unsecured Indebtedness in all respects despite the fact that the maturity dates of the 2024 Notes, 2025 July Notes, 2025 March Notes, 2026 January Notes, 2026 July Notes and
2027 Notes are prior to six (6) months after the Extended Maturity Date so long as the 2024 Notes, 2025 July Notes, 2025 March Notes, 2026 January Notes, 2026 July Notes and 2027 Notes continue to comply with all other
requirements of the above definition; provided that (i) from and after the date that is 9 months prior to the scheduled maturity date of the 2024 Notes, the 2024 Notes shall be included in the Covered Debt Amount, (ii) from and after the
date that is 9 months prior to the scheduled maturity date of the 2025 July Notes, the 2025 July Notes shall be included in the Covered Debt Amount, (iii) from and after the date that is 9 months prior to the scheduled maturity date
of the 2025 March Notes, the 2025 March Notes shall be included in the Covered Debt Amount, (iv) from and after the date that is 9 months prior to the scheduled maturity date of the 2026 January Notes, the 2026 January Notes
shall be included in the Covered Debt Amount, (v) from and after the date that is 9 months prior to the scheduled maturity date of the 2026 July Notes, the 2026 July Notes shall be included in the Covered Debt Amount and
(vi) from and after the date that is 9 months prior to the scheduled maturity date of the 2027 Notes, the 2027 Notes shall be included in the Covered Debt Amount. 

“U.S. Government Securities” means securities that are direct obligations of, and obligations the timely payment of principal
and interest on which is fully guaranteed by, the United States or any agency or instrumentality of the United States the obligations of which are backed by the full faith and credit of the United States and in the form of conventional bills, bonds,
and notes. 
 “U.S. Government Securities Business Day” shall mean any day except for (i) a Saturday, (ii) a
Sunday or (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

 “U.S. Special Resolution Regime” has the meaning assigned to it in Section 9.17. 

“USA Patriot Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and
Obstruct Terrorism Act of 2001. 
 “Valuation Policy” means the Borrower’s valuation policy, as the same may be
amended, supplemented, waived, or otherwise modified from time to time consistent with industry practice for business development companies and in a manner not prohibited by this Agreement. 

“Value” has the meaning assigned to such term in Section 5.13. 

  
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 “Withdrawal Liability” means liability to a Multiemployer Plan as a result
of a “complete withdrawal” or “partial withdrawal” from such Multiemployer Plan, as such terms are defined in Sections 4203 and 4205 of ERISA. 

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

SECTION 1.02. Classification of Loans and Borrowings. For purposes of this Agreement, Loans, Letters of Credit and LC Exposure
may be classified and referred to by Class (e.g., a “Revolving Loan”), by Type (e.g., an “ABR Loan”) or by Class and Type (e.g., a “Revolving Term Benchmark Loan”). Borrowings also may be classified
and referred to by Class (e.g., a “Revolving Borrowing”), by Type (e.g., an “ABR Borrowing”) or by Class and Type (e.g., a “Multicurrency Term Benchmark Borrowing”). Loans and Borrowings may also be
identified as “Multicurrency” or “Dollar” or otherwise by Currency. 
 SECTION 1.03. Terms Generally. The
definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the
context requires otherwise (a) any definition of or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, amended
and restated, supplemented, renewed or otherwise modified (subject to any restrictions on such amendments, supplements, renewals or modifications set forth herein or therein), (b) any reference herein to any Person shall be construed to include
such Person’s successors and assigns (subject to any restrictions on such successors and assigns set forth herein or therein), (c) the words “herein”, “hereof” and “hereunder”, and words of similar import,
shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and
Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including
cash, securities, accounts and contract rights. Solely for purposes of this Agreement, any references to “principal amount” or “obligations” owed by any Person under any (x) Hedging Agreement shall refer to the amount that
would be required to be paid by such Person if such Hedging Agreement (other than Credit Default Swaps) were terminated at such time (after giving effect to any netting agreement) less any collateral posted in support thereof and (y) Credit
Default Swap shall refer to the notional amount thereof less any collateral posted in support thereof 

  
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 SECTION 1.04. Accounting Terms; GAAP. Except as otherwise expressly provided
herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided that, if the Borrower notifies the Administrative Agent that the Borrower requests an amendment to any
provision hereof to eliminate the effect of any change occurring after the Effective Date in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders
request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then the Borrower, the Administrative Agent and Lenders agree to enter
into negotiations in good faith in order to amend such provisions of this Agreement so as to equitably reflect such change to comply with GAAP with the desired result that the criteria for evaluating the Borrower’s financial condition shall be
the same after such change to comply with GAAP as if such change had not been made; provided, however, until such amendments to equitably reflect such changes are effective and agreed to by the Borrower, the Administrative Agent and the Required
Lenders (or until such notice shall have been withdrawn), the Borrower’s compliance with such financial covenants shall be determined on the basis of GAAP as in effect and applied immediately before such change in GAAP becomes effective.
Notwithstanding the foregoing or anything herein to the contrary, the Borrower covenants and agrees with the Lenders that whether or not the Borrower may at any time adopt Financial Accounting Standard Board Accounting Standards Codification 820 or
825-10 (or, in each case, any other Financial Accounting Standard having a similar result or effect) or accounts for liabilities acquired in an acquisition on a fair value basis pursuant to Financial Accounting Standard No. 141(R) (or successor
standard solely as it relates to fair valuing liabilities), all determinations of compliance with the terms and conditions of this Agreement shall be made on the basis that the Borrower has not adopted Financial Accounting Standard Board Accounting
Standards Codification 820 or 825-10 (or, in each case, any other Financial Accounting Standard having a similar result or effect) or, in the case of liabilities acquired in an acquisition, Financial Accounting Standard No. 141(R) (or such
successor standard solely as it relates to fair valuing liabilities). 
 SECTION 1.05. Currencies; Currency Equivalents. 

(a) Currencies Generally. At any time, any reference in the definition of the term “Agreed Foreign Currency” or in any other
provision of this Agreement to the Currency of any particular nation means the lawful currency of such nation at such time whether or not the name of such Currency is the same as it was on the Effective Date. Except as provided in
Section 2.10(b) and the last sentence of Section 2.17(a), for purposes of determining (i) whether the amount of any Borrowing or Letter of Credit under the Multicurrency Commitments, together with all other Borrowings and Letters of
Credit under the Multicurrency Commitments then outstanding or to be borrowed at the same time as such Borrowing, would exceed the aggregate amount of the Multicurrency Commitments, (ii) the aggregate unutilized amount of the Multicurrency
Commitments, (iii) the Revolving Multicurrency Credit Exposure, (iv) the Multicurrency LC Exposure, (v) the Covered Debt Amount and (vi) the Borrowing Base or the Value of any Portfolio Investment, the outstanding principal
amount of any Borrowing or Letter of Credit that is denominated in any Foreign Currency or the Value of any Portfolio Investment that is denominated in any Foreign Currency shall be deemed to be the Dollar Equivalent of the amount of the Foreign
Currency of such Borrowing, Letter of Credit or the Portfolio Investment, as the case may be, determined as of the most recent Revaluation Date or, in the case of a Portfolio Investment, the 

  
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date of valuation of such Portfolio Investment. Wherever in this Agreement in connection with a Borrowing, conversion, continuation or prepayment of a Term Benchmark Loan or RFR Loan or the
issuance, amendment or extension of a Letter of Credit, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but such Borrowing, Loan or Letter of Credit is denominated in a Foreign Currency, such amount shall be the
relevant Foreign Currency Equivalent of such Dollar amount (rounded to the nearest 1,000 units of such Foreign Currency). 
 The
Administrative Agent shall determine the Exchange Rate for any Foreign Currency as of each Revaluation Date to be used for calculating the Dollar Equivalent amounts of Loans, Letters of Credit and Revolving Credit Exposure denominated in such
Foreign Currency. Such Exchange Rate shall become effective as of such Revaluation Date and shall be the Exchange Rate employed in converting any amounts between the applicable currencies until the next Revaluation Date to occur. Except for purposes
of financial statements delivered pursuant to Section 5.01 or except as otherwise provided herein, the applicable amount of any currency (other than Dollars) for purposes of the Loan Documents shall be such Dollar Equivalent amount as so
determined by the Administrative Agent. Without limiting the generality of the foregoing, for purposes of determining compliance with any basket in this Agreement, in no event shall any Obligor be deemed to not be in compliance with any such basket
solely as a result of a change in Exchange Rates. 
 (b) Special Provisions Relating to Euro. Each obligation hereunder of any party
hereto that is denominated in the National Currency of a state that is not a Participating Member State on the Effective Date shall, effective from the date on which such state becomes a Participating Member State, be redenominated in Euro in
accordance with the legislation of the European Union applicable to the European Monetary Union; provided that, if and to the extent that any such legislation provides that any such obligation of any such party payable within such
Participating Member State by crediting an account of the creditor can be paid by the debtor either in Euro or such National Currency, such party shall be entitled to pay or repay such amount either in Euro or in such National Currency. If the basis
of accrual of interest or fees expressed in this Agreement with respect to an Agreed Foreign Currency of any country that becomes a Participating Member State after the date on which such currency becomes an Agreed Foreign Currency shall be
inconsistent with any convention or practice in the interbank market for the basis of accrual of interest or fees in respect of the Euro, such convention or practice shall replace such expressed basis effective as of and from the date on which such
state becomes a Participating Member State; provided that, with respect to any Borrowing denominated in such currency that is outstanding immediately prior to such date, such replacement shall take effect at the end of the Interest Period
therefor. 
 Without prejudice to the respective liabilities of the Borrower to the Lenders and the Lenders to the Borrower under or
pursuant to this Agreement, each provision of this Agreement shall be subject to such reasonable changes of construction as the Administrative Agent may from time to time, in consultation with the Borrower, reasonably specify to be necessary or
appropriate to reflect the introduction or changeover to the Euro in any country that becomes a Participating Member State after the Effective Date; provided that the Administrative Agent shall provide the Borrower and the Lenders with prior
notice of the proposed change with an explanation of such change in sufficient time to permit the Borrower and the Lenders an opportunity to respond to such proposed change. 

  
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 SECTION 1.06. Divisions. For all purposes under the Loan Documents, in
connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or
liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized or
acquired on the first date of its existence by the holders of its Equity Interests at such time. 
 SECTION 1.07. Issuers. For
all purposes of this Agreement, all issuers of Portfolio Investments that are Affiliates of one another shall be treated as a single issuer, unless such issuers are Affiliates of one another solely because they are under the common Control of the
same private equity sponsor or similar sponsor. 
 SECTION 1.08. Outstanding Indebtedness. For the avoidance of doubt, to the
extent that any Indebtedness is repaid, redeemed, repurchased, defeased or otherwise acquired, retired or discharged, in each case, in accordance with the terms of the documentation governing such Indebtedness, such Indebtedness shall be deemed to
be paid off and not to be outstanding for any purpose hereunder to the extent of the amount of such repayment, redemption, repurchase, defeasance, retirement or discharge. 

SECTION 1.09. Reclassification. For purposes of determining compliance with the provisions in Article VI, in the event that a
proposed transaction or other action meets the criteria of more than one of the categories described therein, the Borrower, in its sole discretion, will be permitted to classify such transaction or other action on the date it is consummated or
otherwise taken or later reclassify such transaction or other action, in any manner that complies with each applicable provision of Article VI, so long as such transaction or other action is permitted to be consummated or otherwise taken pursuant to
each applicable provision of Article VI at the time of reclassification. 
 SECTION 1.10. Calculations. For purposes of
categorization of each Portfolio Investment in accordance with Section 5.13, the amount of “first lien debt”, “aggregate first lien debt” and “EBITDA” with respect to any Portfolio Investment may be calculated by
the Borrower in good faith using information from and calculations consistent with the relevant financial models, pro forma financial statements, compliance certificates and financial reporting packages provided by the relevant obligor or issuer as
per the requirements of and all in the manner set forth in the relevant agreement governing such Portfolio Investment. 
 SECTION
1.11. Rates. The Administrative Agent does not warrant or accept responsibility for, and shall not have any liability with respect to (a) the continuation of, administration of, submission of, calculation of or any other matter
related to the Alternate Base Rate, the Daily Simple RFR, Term SOFR, the CDO Rate, the Adjusted EURIBO Rate, the AUD Rate, the TIBOR Rate, the STIBOR Rate, the BKBM Rate or any component definition thereof or rates referred to in the definition
thereof, or any alternative, successor or replacement rate thereto (including any Benchmark Replacement), including whether the composition or characteristics of any such alternative, successor or replacement rate (including any Benchmark
Replacement) will be similar to, or produce the same value or economic equivalence of, or have the same volume or liquidity as, the Alternate Base Rate, the Daily Simple RFR, Term SOFR, the CDO Rate, the 

  
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Adjusted EURIBO Rate, the AUD Rate, the TIBOR Rate, the STIBOR Rate, the BKBM Rate or any other Benchmark prior to its discontinuance or unavailability, or (b) the effect, implementation or
composition of any Conforming Changes. The Administrative Agent and its affiliates or other related entities may engage in transactions that affect the calculation of the Alternate Base Rate, the Daily Simple RFR, Term SOFR, the CDO Rate, the
Adjusted EURIBO Rate, the AUD Rate, the TIBOR Rate, the STIBOR Rate, the BKBM Rate, any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto, in each case, in a manner adverse to the
Borrower. The Administrative Agent may select information sources or services in its reasonable discretion to ascertain the Alternate Base Rate, the Daily Simple RFR, Term SOFR, the CDO Rate, the Adjusted EURIBO Rate, the AUD Rate, the TIBOR Rate,
the STIBOR Rate, the BKBM Rate or any other Benchmark, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect,
special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) by any such information
source or service. 
 ARTICLE II 

THE CREDITS 

SECTION 2.01. The Commitments. 

Subject to the terms and conditions set forth herein: 

(a) each Dollar Lender severally agrees to make Revolving Loans in Dollars to the Borrower from time to time during such Dollar Lender’s
Availability Period in an aggregate principal amount that will not result in (i) such Lender’s Revolving Dollar Credit Exposure exceeding such Lender’s Dollar Commitment, (ii) the aggregate Revolving Dollar Credit Exposure of all
of the Lenders with Dollar Commitments then in effect exceeding the Dollar Commitments at such time, or (iii) the total Covered Debt Amount exceeding the Borrowing Base then in effect; 

(b) each Multicurrency Lender severally agrees to make Revolving Loans in Dollars or in any Agreed Foreign Currency to the Borrower from time
to time during such Multicurrency Lender’s Availability Period in an aggregate principal amount that will not result in (i) such Lender’s Revolving Multicurrency Credit Exposure exceeding such Lender’s Multicurrency Commitment,
(ii) the aggregate Revolving Multicurrency Credit Exposure of all of the Lenders with Multicurrency Commitments then in effect exceeding the Multicurrency Commitments at such time, or (iii) the total Covered Debt Amount exceeding the
Borrowing Base then in effect. 
 Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may
borrow, prepay and reborrow Revolving Loans. 
 SECTION 2.02. Loans and Borrowings. 

(a) Obligations of Lenders. Each Loan shall be made as part of a Borrowing consisting of Loans of the same Class of Commitments (other
than with respect to any Loan requested pursuant to Section 2.21), Currency and Type made by the applicable Lenders ratably in accordance with their respective Commitments of the same Class. The failure of any Lender to make any Loan
required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans as
required. 

  
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 (b) Type of Loans. Subject to Section 2.13, (i) each Borrowing of a Class
shall be constituted entirely of ABR Loans, of RFR Loans or of Term Benchmark Loans of such Class denominated in a single Currency as the Borrower may request in accordance herewith. Each ABR Loan shall be denominated in Dollars and (ii) each
Pro-Rata Borrowing shall be constituted entirely of ABR Loans or of Term Benchmark Loans denominated in Dollars. Each Term Benchmark Loan shall be denominated in an Agreed Foreign Currency (other than GBP or CHF) or Dollars. Each Daily Simple RFR
Loan shall be denominated in GBP or CHF. Each Lender at its option may make any RFR Loan or Term Benchmark Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that (i) any exercise of
such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement and (ii) in exercising such option, such Lender shall use commercially reasonable efforts to minimize any increased
costs to the Borrower resulting therefrom (which obligation of the Lender shall not require it to take, or refrain from taking, actions that it determines would result in increased costs for which it will not be compensated hereunder or that it
determines would be otherwise disadvantageous to it and in the event of such request for costs for which compensation is provided under this Agreement, the provisions of Sections 2.14 and 2.19 shall apply). 

(c) Minimum Amounts. Each Borrowing (whether Term Benchmark, RFR, ABR or Swingline) shall be in an aggregate principal amount of
$1,000,000 or a whole multiple of $100,000 in excess thereof (or, in each case, such smaller amount as may be agreed to by the Administrative Agent) or, with respect to any Agreed Foreign Currency, such smaller minimum amount as may be agreed to by
the Administrative Agent; provided that (i) an ABR Borrowing of a Class may be in an aggregate principal amount that is equal to the entire unused balance of the total Commitments of such Class or that is required to finance the
reimbursement of an LC Disbursement of such Class as contemplated by Section 2.05(f) and (ii) any Pro-Rata Borrowing may be in an aggregate principal amount of $1,000,000 or a whole multiple of $100,000 in excess thereof (or, in each case,
such smaller amount as may be agreed to by the Administrative Agent). Borrowings of more than one (1) Class, Currency and Type may be outstanding at the same time. 

(d) Limitations on Interest Periods. Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to
request (or to elect to convert to or continue as a Term Benchmark Borrowing or RFR Borrowing) any Borrowing if the Interest Period requested therefor would end after the Extended Maturity Date. After giving effect to all Borrowings, all conversions
of Loans from one Type to the other, and all continuations of Loans as the same Type, there shall not be more than fifteen (15) Interest Periods with respect to Term Benchmark Borrowings in effect at any time; provided that any request (or
election to convert or continue as a Term Benchmark Borrowing) that would extend past an applicable Non-Extended Maturity Date may only be made with respect to the portion of the Term Benchmark Borrowing held by the Extending Lenders and
Non-Extending Lenders for which the Non-Extended Maturity Date shall not have occurred. 

  
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 SECTION 2.03. Requests for Borrowings. 

(a) Notice by the Borrower. To request a Borrowing (other than a Swingline Loan), the Borrower shall notify the Administrative Agent of
such request by electronic communication (i) in the case of a Term Benchmark Borrowing denominated in Dollars, not later than 12:00 p.m., New York City time, three (3) Business Days before the date of the proposed Borrowing,
(ii) in the case of a Term Benchmark Borrowing denominated in a Foreign Currency, not later than 12:00 p.m., New York City time, four (4) Business Days before the date of the proposed Borrowing, (iii) in the case of an ABR
Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing or (iv) in the case of an RFR Borrowing, not later than 12:00 p.m., New York City time, four (4) Business Days before the date
of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery, telecopy or electronic mail to the Administrative Agent of a written Borrowing Request in a form approved by the
Administrative Agent and signed by the Borrower. Notwithstanding the other provisions of this Agreement, in the case of any Revolving Borrowing denominated in Dollars, the Borrower may request that such Borrowing be split into a Dollar Loan in an
aggregate principal amount equal to the Pro-Rata Dollar Portion and a Multicurrency Loan in an aggregate amount equal to the Pro-Rata Multicurrency Portion (any such Borrowing, a “Pro-Rata Borrowing”). Except as expressly set forth
in this Agreement, a Pro-Rata Borrowing shall be treated as being comprised of two (2) separate Borrowings, a Dollar Borrowing under the Dollar Commitments and a Multicurrency Borrowing under the Multicurrency Commitments. 

(b) Content of Borrowing Requests. Each such telephonic and written Borrowing Request shall specify the following information in
compliance with Section 2.02: 
 (i) whether such Borrowing is to be made under the Dollar Commitments or the
Multicurrency Commitments or as a Pro-Rata Borrowing; 
 (ii) in the case of a Revolving Borrowing, if such Borrowing is a
Pro-Rata Borrowing, the Pro-Rata Dollar Portion and the Pro-Rata Multicurrency Portion; 
 (iii) in the case of a Revolving
Borrowing, the aggregate amount and Currency of the requested Borrowing; 
 (iv) the date of such Borrowing, which shall be a
Business Day; 
 (v) in the case of any Revolving Borrowing denominated in Dollars, whether such Borrowing is to be an ABR
Borrowing or a Term Benchmark Borrowing; 
 (vi) in the case of a Term Benchmark Borrowing or RFR Borrowing, the Interest
Period therefor, which shall be a period contemplated by the definition of the term “Interest Period” and permitted under Section 2.02(d); and 

(vii) the location and number of the Borrower’s account (or such other account(s) as the Borrower may designate in a
written Borrowing Request accompanied by information reasonably satisfactory to the Administrative Agent as to the identity and purpose of such other account(s)) to which funds are to be disbursed or, in the case of any ABR Borrowing requested to
finance the reimbursement of an LC Disbursement provided in Section 2.05(f), the identity of the Issuing Bank that made such LC Disbursement. 

  
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 (c) Notice by the Administrative Agent to the Lenders. Promptly following receipt of
a Borrowing Request in accordance with this Section 2.03, the Administrative Agent shall advise each applicable Lender of the details thereof and of the amounts of such Lender’s Loan to be made as part of the requested Borrowing. 

(d) Failure to Elect. If no election as to the Class of Commitment of a Revolving Borrowing is specified in a Borrowing Request, then
the requested Borrowing shall be denominated in Dollars and shall be a Pro-Rata Borrowing. If no election as to the Currency of a Revolving Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be denominated in Dollars.
If no election as to the Type or Currency of a Borrowing is specified in a Borrowing Request, then the requested Borrowing shall be a Term Benchmark Borrowing denominated in Dollars having an Interest Period of one (1) month and, if an Agreed
Foreign Currency has been specified, the requested Borrowing shall be a Term Benchmark Borrowing or RFR Borrowing, as applicable denominated in such Agreed Foreign Currency and having an Interest Period of one (1) month. If a Borrowing (other
than an ABR Borrowing) is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Term Benchmark Borrowing
denominated in Dollars having an Interest Period of one (1) month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of
one (1) month’s duration. 
 (e) Notice by Borrower for Initial Borrowing. Notwithstanding anything to the contrary herein
and the notice requirements set forth in Section 2.03(a), to request a Borrowing to be made on the Effective Date, the Borrower shall notify the Administrative Agent of such request by telephone (confirmed by telecopy or electronic
communication) not later than 12:00 p.m., New York City time, one (1) Business Day before the date of the proposed Effective Date (or such later time as reasonably agreed by the Administrative Agent). For the avoidance of doubt, such
notice shall not affect any future obligations of the Borrower to comply with the obligations of Section 2.03(a) in connection with any Borrowing Request. 

SECTION 2.04. Swingline Loans. 

(a) Agreement to Make Swingline Loans. Subject to the terms and conditions set forth herein, each Swingline Lender severally agrees to
make Swingline Loans under each Commitment to the Borrower from time to time during the Extended Availability Period, in Dollars, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal
amount of outstanding Swingline Loans exceeding $200,000,000 or any Swingline Lender’s outstanding Swingline Loans exceeding the amount set forth opposite the name of such Swingline Lender on Schedule IX, (ii) the sum of any
Swingline Lender’s outstanding Dollar Loans, its Dollar LC Exposure and its outstanding Swingline Loans exceeding its Dollar Commitment, (iii) the sum of any Swingline Lender’s outstanding Multicurrency Loans, its Multicurrency LC
Exposure and its outstanding Swingline Loans exceeding its Multicurrency Commitment, (iv) the total Revolving Dollar Credit Exposures exceeding the aggregate Dollar Commitments, (v) the total Revolving Multicurrency Credit Exposures
exceeding the aggregate Multicurrency Commitments or (vi) the total Covered Debt Amount exceeding the Borrowing Base then in effect; provided that no Swingline Lender shall be required to make a Swingline Loan to refinance an outstanding
Swingline Loan. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, repay, prepay and reborrow Swingline Loans. 

  
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 (b) Notice of Swingline Loans by the Borrower. To request a Swingline Loan, the
Borrower shall notify the Administrative Agent and each Swingline Lender of such request by telephone (confirmed by telecopy or electronic communication) not later than 2:00 p.m., New York City time, on the day of such proposed
Swingline Loan. Each such notice shall be irrevocable and shall specify the Swingline Lender from which such Swingline Loan shall be made, the requested date (which shall be a Business Day) and the amount of the requested Swingline Loan (which
(x) in the case of any Swingline Lender that is a Dollar Lender, shall be made under the Dollar Commitments and (y) in the case of any Swingline Lender that is a Multicurrency Lender, shall be made under the Multicurrency Commitments). The
Administrative Agent will promptly advise the applicable Swingline Lender of any such notice received from the Borrower. Each Swingline Lender shall make each applicable Swingline Loan available to the Borrower by means of a credit to the
Borrower’s account specified in Section 2.03(b)(vii) (or, in the case of a Swingline Loan made to finance the reimbursement of an LC Disbursement as provided in Section 2.05(f), by remittance to the applicable Issuing Bank)
by 3:00 p.m., New York City time, on the requested date of such Swingline Loan. 
 (c) Participations by Lenders in
Swingline Loans. Any Swingline Lender may by written notice given to the Administrative Agent not later than 10:00 a.m., New York City time on any Business Day, require (x) the Multicurrency Lenders (other than any Non-Extending
Lenders for which such Non-Extending Lender’s applicable Non-Extended Commitment Termination Date has occurred) in the case of any Swingline Loan made under the Multicurrency Commitments and (y) the Dollar Lenders (other than any
Non-Extending Lenders for which such Non-Extending Lender’s applicable Non-Extended Commitment Termination Date has occurred) in the case of any Swingline Loan made under the Dollar Commitments, in each case, to acquire participations on such
Business Day in all or a portion of such Swingline Loans, and the applicable Lenders shall participate in such Swingline Loans (and in the event any such Swingline Loan is not repaid within five (5) Business Days and the Borrower has submitted
a Borrowing Request in accordance with Section 2.03, such Swingline Loan shall be converted to a Term Benchmark Loan denominated in Dollars having an Interest Period of one (1) month’s duration made ratably by the applicable Lenders
and shall no longer constitute a Swingline Loan). Such notice to the Administrative Agent shall specify the aggregate amount of Swingline Loans in which the applicable Lenders will participate. Promptly upon receipt of such notice, the
Administrative Agent will give notice thereof to each Dollar Lender or Multicurrency Lender, as applicable, specifying in such notice such Lender’s Applicable Dollar Percentage or Applicable Multicurrency Percentage, as applicable, of such
Swingline Loan or Loans. Each Lender hereby absolutely and unconditionally agrees, upon receipt of notice as provided above in this paragraph, to pay to the Administrative Agent, for account of any applicable Swingline Lender, such Lender’s
Applicable Dollar Percentage or Applicable Multicurrency Percentage, as applicable, of the applicable Swingline Loan or Loans made under such Lender’s Class of Commitments. 

Subject to the foregoing, each Lender acknowledges and agrees that its obligation to acquire participations in Swingline Loans pursuant to
this paragraph (c) is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Commitments of the respective

  
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Class, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Lender shall comply with its obligation under this paragraph by wire
transfer of immediately available funds, in the same manner as provided in Section 2.06 with respect to Loans made by such Lender (and Section 2.06 shall apply, mutatis mutandis, to the payment obligations of the Lenders), and the
Administrative Agent shall promptly pay to the applicable Swingline Lender the amounts so received by it from the Lenders. The Administrative Agent shall notify the Borrower of any participations in any Swingline Loan acquired pursuant to this
paragraph, and thereafter payments in respect of such Swingline Loan shall be made to the Administrative Agent and not to the applicable Swingline Lender. Any amounts received by a Swingline Lender from the Borrower (or other party on behalf of the
Borrower) in respect of a Swingline Loan after receipt by such Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall
be promptly remitted by the Administrative Agent to the Lenders that shall have made their payments pursuant to this paragraph and to the applicable Swingline Lender, as their interests may appear. The purchase of participations in a Swingline Loan
pursuant to this paragraph shall not relieve the Borrower of any default in the payment thereof. 
 (d) Replacement of Any Swingline
Lender. Any Swingline Lender may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced Swingline Lender and the successor Swingline Lender. The Administrative Agent shall notify the Lenders of
any such resignation and replacement of any Swingline Lender. In addition, if any Swingline Lender, in its capacity as a Lender, assigns all of its Loans and Commitments in connection with the terms of this Agreement, such Swingline Lender shall be
deemed to have automatically resigned as a Swingline Lender hereunder. The Administrative Agent shall notify the Lenders of any such replacement of any Swingline Lender. At the time any such replacement or resignation shall become effective, the
Borrower shall pay all unpaid fees accrued for the account of the replaced or resigning Swingline Lender pursuant to Section 2.11. From and after the effective date of any such replacement, (i) the successor Swingline Lender shall have all
the rights and obligations of the replaced Swingline Lender under this Agreement with respect to Swingline Loans to be made thereafter and (ii) references herein to the term “Swingline Lender” and/or “Swingline Lenders”
shall be deemed to refer to such successor or successors (and the other current Swingline Lenders, if applicable) or to any previous Swingline Lender, or to such successor or successors (and all other current Swingline Lenders) and all previous
Swingline Lenders, as the context shall require. After the replacement or resignation of an Swingline Lender hereunder, the replaced or resigning Swingline Lender shall have no obligation to make additional Swingline Loans. 

(e) Designation of Additional Swingline Lenders. The Borrower may, at any time and from time to time, with the consent of the
Administrative Agent (which consent shall not be unreasonably withheld), designate as additional Swingline Lenders one (1) or more Lenders that agree to serve in such capacity as provided below. The acceptance by a Lender of an appointment as a
Swingline Lender hereunder shall be evidenced by an agreement, which shall be in form and substance reasonably satisfactory to the Administrative Agent, executed by the Borrower, the Administrative Agent and such designated Lender and, from and
after the effective date of such agreement, (i) such Lender shall have all the rights and obligations of a Swingline Lender under this Agreement and the other Loan Documents and (ii) references herein or therein to the term “Swingline
Lender” shall be deemed to include such Lender in its capacity as a maker of Swingline Loans hereunder. 

  
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 SECTION 2.05. Letters of Credit. 

(a) General. Subject to the terms and conditions set forth herein, in addition to the Loans provided for in Section 2.01, the
Borrower may request any Issuing Bank to issue, and each Issuing Bank severally agrees to issue, at any time and from time to time during the Extended Availability Period, Letters of Credit denominated in Dollars or in any Agreed Foreign Currency
for its own account or the account of its designee (provided the Borrower shall remain primarily liable to the Lenders hereunder for payment and reimbursement of all amounts payable in respect of such Letter of Credit hereunder) in such form as is
acceptable to such Issuing Bank and such named beneficiary or beneficiaries as are specified by the Borrower, each in its reasonable determination, and for the benefit of such named beneficiary or beneficiaries as are specified by the Borrower.
Letters of Credit issued hereunder shall constitute utilization of the Multicurrency Commitments or the Dollar Commitments, as applicable, up to the aggregate amount then available to be drawn thereunder. Without limiting any rights of an Issuing
Bank under this Section 2.05, no Issuing Bank shall be obligated to issue, amend, renew or extend any Letter of Credit (i) denominated in any Foreign Currency if at the time of such issuance, such Issuing Bank, in its capacity as a Lender,
would not be required to make Loans in such Foreign Currency hereunder or (ii) if, immediately after giving effect to such issuance, amendment, renewal or extension, the sum of such Issuing Bank’s outstanding Revolving Loans, LC Exposure
and Swingline Exposure (if any) would exceed such Issuing Bank’s Dollar Commitment or Multicurrency Commitment, as the case may be. 

This Section 2.05 shall not be construed to impose an obligation upon any Issuing Bank to issue, amend, renew or extend any Letter of
Credit if (i) any order, judgment or decree of any Governmental Authority shall by its terms purport to enjoin or restrain such Issuing Bank from issuing, amending or extending such Letter of Credit, or any law applicable to such Issuing Bank
or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over such Issuing Bank shall prohibit, or request that such Issuing Bank refrain from, the issuance of letters of credit generally
or such Letter of Credit in particular or shall impose upon such Issuing Bank with respect to such Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Bank is not otherwise compensated hereunder) not in effect on
the Effective Date, or shall impose upon such Issuing Bank any unreimbursed loss, cost or expense which was not applicable on the Effective Date and which such Issuing Bank in good faith deems material to it or (ii) the issuance of such Letter
of Credit would violate one or more policies of such Issuing Bank applicable to letters of credit generally. 
 (b) Notice of Issuance,
Amendment, Renewal or Extension. To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if
arrangements for doing so have been approved by such Issuing Bank) to any Issuing Bank and the Administrative Agent (reasonably in advance of, which shall not be required to exceed five Business Days in advance of, the requested date of issuance,
amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or

  
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extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (d) of this Section 2.05), the amount, Class of
Commitment and Currency of such Letter of Credit, stating that such Letter of Credit is to be issued under the Multicurrency Commitments or Dollar Commitments, as applicable, the name and address of the beneficiary thereof and such other information
as shall be necessary to prepare, amend, renew or extend such Letter of Credit. The Administrative Agent will promptly notify the Lenders following the issuance of any Letter of Credit. If requested by the applicable Issuing Bank, the Borrower also
shall submit a letter of credit application on such Issuing Bank’s standard form in connection with any request for a Letter of Credit. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and
conditions of any form of letter of credit application or other agreement submitted by the Borrower to, or entered into by the Borrower with, any Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall
control. 
 (c) Limitations on Amounts. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance,
amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the aggregate LC Exposure at such time of the
Issuing Banks (determined for these purposes without giving effect to the participations therein of the Lenders pursuant to paragraph (e) of this Section 2.05) shall not exceed the amount set forth opposite the name of such Issuing Bank on
Schedule IX (or such greater amount as may be agreed between the Borrower and such Issuing Bank from time to time), (ii) the total Revolving Multicurrency Credit Exposures of Multicurrency Lenders with Multicurrency Commitments then in
effect shall not exceed the aggregate Multicurrency Commitments at such time and the total Revolving Dollar Credit Exposure of Dollar Lenders with Dollar Commitments then in effect shall not exceed the aggregate Dollar Commitments at such time,
(iii) with respect to each Issuing Bank, the sum of such Issuing Bank’s outstanding Revolving Loans, LC Exposure and Swingline Exposure (if any) of such Class of Commitment shall not exceed its Commitment of such Class and (iv) the
total Covered Debt Amount shall not exceed the Borrowing Base then in effect. 
 (d) Expiration Date. Each Letter of Credit shall
expire at or prior to the close of business on the date twelve (12) months after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, twelve (12) months after the then-current expiration
date of such Letter of Credit, so long as such renewal or extension occurs within three (3) months of such then-current expiration date); provided that any Letter of Credit with a one (1) year term may provide for the renewal
thereof for additional one (1) year periods; provided further, that (x) in no event shall a Letter of Credit expire after the Extended Commitment Termination Date unless the Borrower (1) deposits, on or prior to the Extended
Commitment Termination Date, into the Letter of Credit Collateral Account Cash in an amount equal to 100% of the undrawn face amount of all Letters of Credit that remain outstanding as of the close of business on the Extended Commitment Termination
Date and (2) pays in full, on or prior to the Extended Commitment Termination Date, all commissions required to be paid with respect to any such Letter of Credit through the then-current expiration date of such Letter of Credit and (y) no
Letter of Credit shall have an expiry date after the Extended Maturity Date. 

  
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 (e) Participations. By the issuance of a Letter of Credit (or an amendment to a
Letter of Credit increasing the amount thereof) by an Issuing Bank, and without any further action on the part of the Issuing Banks or the Lenders, (i) in the case of a Multicurrency Issuing Bank, such Multicurrency Issuing Bank hereby grants
to each Multicurrency Lender (other than any Non-Extending Lender for which such Non-Extending Lender’s applicable Non-Extended Commitment Termination Date has occurred), and each Multicurrency Lender hereby acquires from such Multicurrency
Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Multicurrency Percentage of the aggregate amount available to be drawn under such Letter of Credit and (ii) in the case of a Dollar Issuing Bank, such
Dollar Issuing Bank hereby grants to each Dollar Lender (other than any Non-Extending Lender for which such Non-Extending Lender’s applicable Non-Extended Commitment Termination Date has occurred), and each Dollar Lender hereby acquires from
such Dollar Issuing Bank, a participation in such Letter of Credit equal to such Lender’s Applicable Dollar Percentage of the aggregate amount available to be drawn under such Letter of Credit. Each Lender acknowledges and agrees that its
obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any Letter of
Credit or the occurrence and continuance of a Default or reduction or termination of the applicable Class of Commitments. 
 In
consideration and in furtherance of the foregoing, (x) each Multicurrency Lender (other than any Non-Extending Lender for which such Non-Extending Lender’s applicable Non-Extended Termination Date has occurred) hereby absolutely and
unconditionally agrees to pay to the Administrative Agent, for the account of each Multicurrency Issuing Bank, such Lender’s Applicable Multicurrency Percentage of each LC Disbursement made by each such Multicurrency Issuing Bank and
(y) each Dollar Lender (other than any Non-Extending Lender for which such Non-Extending Lender’s applicable Non-Extended Termination Date has occurred) hereby absolutely and unconditionally agrees to pay to the Administrative Agent, for
the account of each Dollar Issuing Bank, such Lender’s Applicable Dollar Percentage of each LC Disbursement made by each such Dollar Issuing Bank, in each case, in respect of Letters of Credit promptly upon the request of each such Issuing Bank
(which such request shall be made by such Issuing Bank in accordance with the notice requirements applicable to the Borrower with respect to a request for Loans in Section 2.03) at any time from the time of such LC Disbursement until such LC
Disbursement is reimbursed by the Borrower or at any time after any reimbursement payment is required to be refunded to the Borrower for any reason. Such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each
such payment shall be made in the same manner as provided in Section 2.06 with respect to Loans made by such Lender (and Section 2.06 shall apply, mutatis mutandis, to the payment obligations of the Lenders), and the Administrative
Agent shall promptly pay to such Issuing Bank the amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any payment from the Borrower pursuant to Section 2.05(f), the Administrative Agent shall
distribute such payment to the applicable Issuing Bank or, to the extent that the Lenders have made payments pursuant to this paragraph to reimburse an Issuing Bank, then to such Lenders and such Issuing Banks as their interests may appear. Any
payment made by a Lender pursuant to this paragraph to reimburse an Issuing Bank for any LC Disbursement shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such LC Disbursement. 

  
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 (f) Reimbursement. If an Issuing Bank shall make any LC Disbursement in respect of a
Letter of Credit, the Borrower shall reimburse such Issuing Bank in respect of such LC Disbursement by paying to the Administrative Agent an amount equal to such LC Disbursement not later than 12:00 noon, New York City time, on (i) the
Business Day that the Borrower receives notice of such LC Disbursement, if such notice is received prior to 10:00 a.m., New York City time, or (ii) the Business Day immediately following the day that the Borrower receives such notice,
if such notice is not received prior to such time, provided that, if such LC Disbursement is not less than $1,000,000 (or such smaller amount as may be agreed to by the Administrative Agent) and is denominated in Dollars, the Borrower may,
subject to the conditions to borrowing set forth herein, request in accordance with Section 2.03 or 2.04 that such payment be financed with an ABR Borrowing or a Swingline Loan of the respective Class in an equivalent amount and, to the extent
so financed, the Borrower’s obligation to make such payment shall be discharged and replaced by the resulting ABR Borrowing or Swingline Loan. 

If the Borrower fails to make such payment when due, the Administrative Agent shall notify each affected Revolving Lender with a Commitment
then in effect of the applicable LC Disbursement, the payment then due from the Borrower in respect thereof and such Revolving Lender’s Applicable Multicurrency Percentage or Applicable Dollar Percentage, as applicable, thereof. 

(g) Obligations Absolute. The Borrower’s obligation to reimburse LC Disbursements as provided in paragraph (f) of this
Section 2.05 shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever and irrespective of (i) any lack of validity or
enforceability of any Letter of Credit, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in any respect or any statement therein being untrue or
inaccurate in any respect, (iii) payment by an Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply strictly with the terms of such Letter of Credit, and (iv) any other event or
circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section 2.05, constitute a legal or equitable discharge of the Borrower’s obligations hereunder. 

None of the Administrative Agent, the Lenders, the Issuing Banks, or any of their respective Related Parties, shall have any liability or
responsibility by reason of or in connection with the issuance or transfer of any Letter of Credit by the Issuing Banks or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding
sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any
error in interpretation of technical terms or any consequence arising from causes beyond the control of the Issuing Banks; provided that the foregoing shall not be construed to excuse any Issuing Bank from liability to the Borrower to the
extent of any direct damages (as opposed to consequential damages, claims in respect of which are hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are caused by any Issuing Bank’s gross
negligence or willful misconduct when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof as determined by a final, non-appealable judgment of a court of competent jurisdiction. The parties
hereto expressly agree that: 
 (i) the Issuing Banks may accept documents that appear on their face to be in substantial
compliance with the terms of a Letter of Credit without responsibility for further investigation, regardless of any notice or information to the contrary, and may make payment upon presentation of documents that appear on their face to be in
substantial compliance with the terms of such Letter of Credit; 

  
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 (ii) the Issuing Banks shall have the right, in their sole discretion, to
decline to accept such documents and to make such payment if such documents are not in strict compliance with the terms of such Letter of Credit; and 

(iii) this sentence shall establish the standard of care to be exercised by the Issuing Banks when determining whether drafts
and other documents presented under a Letter of Credit comply with the terms thereof (and the parties hereto hereby waive, to the extent permitted by applicable law, any standard of care inconsistent with the foregoing). 

(h) Disbursement Procedures. Each Issuing Bank shall, within a reasonable time following its receipt thereof, examine all documents
purporting to represent a demand for payment under a Letter of Credit. Each Issuing Bank shall promptly after such examination notify the Administrative Agent and the Borrower by telephone (confirmed by telecopy or electronic communication) of such
demand for payment and whether such Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse the
applicable Issuing Bank and the applicable Lenders with respect to any such LC Disbursement. 
 (i) Interim Interest. If any Issuing
Bank shall make any LC Disbursement, then, unless the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC
Disbursement is made to but excluding the date that the Borrower reimburses such LC Disbursement, at the rate per annum then applicable to ABR Loans; provided that, if the Borrower fails to reimburse such LC Disbursement within two
(2) Business Days following the date when due pursuant to paragraph (f) of this Section 2.05, then the provisions of Section 2.12(d) shall apply. Interest accrued pursuant to this paragraph shall be for the account of the
applicable Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (f) of this Section 2.05 to reimburse an Issuing Bank shall be for the account of such Lender to the extent of such
payment. 
 (j) Resignation or Replacement of an Issuing Bank. Any Issuing Bank may be replaced at any time by written agreement
among the Borrower, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank. In addition, any Issuing Bank may resign as an Issuing Bank hereunder upon not less than three (3) Business Days prior written notice to the
Administrative Agent and the Borrower; provided further that if any Issuing Bank, in its capacity as a Lender, assigns all of its Loans and Commitments in accordance with the terms of this Agreement, such Issuing Bank shall be deemed to have
automatically resigned as an Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement or resignation of an Issuing Bank. At the time any such replacement or resignation shall become effective, the Borrower shall pay
all unpaid fees accrued for the account of the replaced or resigning Issuing Bank pursuant to Section 2.11(b). From and after the effective date of any such replacement, (i) the successor Issuing Bank shall have all the rights and
obligations of the replaced Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references 

  
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herein to the term “Issuing Bank” and/or “Issuing Banks” shall be deemed to refer to such successor or successors (and the other current Issuing Banks, if applicable) or to
any previous Issuing Bank, or to such successor or successors (and all other current Issuing Banks) and all previous Issuing Banks, as the context shall require. After the replacement or resignation of an Issuing Bank hereunder, the replaced or
resigning Issuing Bank shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement or resignation, but shall
not be required to issue additional Letters of Credit. 
 (k) Designation of Additional Issuing Banks. The Borrower may, at any time
and from time to time, with the consent of the Administrative Agent (which consent shall not be unreasonably withheld), designate as additional Issuing Banks one (1) or more Lenders that agree to serve in such capacity as provided below. The
acceptance by a Lender of an appointment as an Issuing Bank hereunder shall be evidenced by an agreement, which shall be in form and substance reasonably satisfactory to the Administrative Agent, executed by the Borrower, the Administrative Agent
and such designated Lender and, from and after the effective date of such agreement, (i) such Lender shall have all the rights and obligations of an Issuing Bank under this Agreement and the other Loan Documents and (ii) references herein
or therein to the term “Issuing Bank” shall be deemed to include such Lender in its capacity as an issuer of Letters of Credit hereunder. 

(l) Cash Collateralization. If the Borrower shall be required to provide cover for LC Exposure of a Class of Commitments pursuant to
Section 2.09(a), Section 2.10(c), Section 2.10(d), Section 2.18(c)(ii), Section 2.21(b) or the last paragraph of Section 7.01 or Section 9.21, the Borrower shall immediately (or in accordance with the time periods
specified in the applicable section) deposit into a segregated collateral account or accounts (herein, collectively, the “Letter of Credit Collateral Account”) in the name and under the dominion and control of the Administrative
Agent, Cash denominated in the Currency of the Letter of Credit under which such LC Exposure arises in an amount equal to the amount required under Section 2.09(a), Section 2.10(c), Section 2.10(d), Section 2.18(c)(ii),
Section 2.21(b) or the last paragraph of Section 7.01, as applicable. Such deposit shall be held by the Administrative Agent as collateral in the first instance for the LC Exposure under this Agreement and thereafter for the payment of the
Secured Obligations, and for these purposes the Borrower hereby grants a security interest to the Administrative Agent for the benefit of the Lenders in the Letter of Credit Collateral Account and in any financial assets (as defined in the Uniform
Commercial Code) or other property held therein. If the Borrower is required to provide cash collateral hereunder as a result of the occurrence of an Event of Default, such cash collateral (to the extent not applied as set forth in this
Section 2.05(l)) shall be returned to the Borrower within three (3) Business Days after all Events of Default have been cured or waived. If the Borrower is required to provide cash collateral hereunder pursuant to Section 2.10(b)(ii),
such cash collateral (to the extent not applied as set forth in this Section 2.05(l)) shall be returned to the Borrower as and to the extent that, after giving effect to such return, the aggregate Credit Exposures would not exceed the aggregate
Commitments and no Specified Default or Event of Default shall have occurred and be continuing. 

  
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 SECTION 2.06. Funding of Borrowings. 

(a) Funding by Lenders. Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of
immediately available funds by (i) in the case of any Loan (other than an ABR Borrowing), 11:00 a.m. New York City time, and (ii) in the case of any Loan that is an ABR Borrowing, 1:00 p.m., New York City time, to the account of
the Administrative Agent most recently designated by it for such purpose, in each case, by notice to the Lenders; provided that Swingline Loans shall be made as provided in Section 2.04. The Administrative Agent will make such Loans
available to the Borrower by promptly crediting the amounts so received, in like funds, to an account of the Borrower designated by the Borrower in the applicable Borrowing Request; provided that Borrowings made to finance the reimbursement
of an LC Disbursement as provided in Section 2.05(f) shall be remitted by the Administrative Agent to the applicable Issuing Bank. 

(b) Presumption by the Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender prior to the
proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in
accordance with paragraph (a) of this Section 2.06 and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing
available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in the corresponding Currency with interest thereon, for each day
from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the Federal Funds Effective Rate or (ii) in the case of the
Borrower, the interest rate applicable at the time to ABR Loans in the case of a Dollar Borrowing or the interest rate applicable to such Borrowing in the case of a Multicurrency Borrowing. If such Lender pays such amount to the Administrative
Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. Nothing in this paragraph shall relieve any Lender of its obligation to fulfill its commitments hereunder, and shall be without prejudice to any claim the
Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent. 
 SECTION 2.07.
Interest Elections. 
 (a) Elections by the Borrower for Borrowings. Subject to Section 2.03(d), the Loans constituting
each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Term Benchmark Borrowing, shall have the Interest Period specified in such Borrowing Request. Thereafter, the Borrower may elect to
convert such Borrowing to a Borrowing of a different Type or to continue such Borrowing as a Borrowing of the same Type and, in the case of a Term Benchmark Borrowing, may elect the Interest Period therefor, all as provided in this
Section 2.07; provided, however, that (i) a Borrowing of a Class may only be continued or converted into a Borrowing of the same Class, (ii) a Borrowing denominated in one Currency may not be continued as, or converted
to, a Borrowing in a different Currency, (iii) no Term Benchmark Borrowing denominated in a Foreign Currency or RFR Borrowing may be continued if, after giving effect thereto, the aggregate Revolving Multicurrency Credit Exposures would exceed
the aggregate Multicurrency Commitments, and (iv) a Term Benchmark Borrowing denominated in a Foreign Currency or RFR Borrowing may not be converted to a Borrowing of a different Type. The Borrower may elect different options with respect to
different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders of the respective Class holding the Loans constituting such Borrowing, and the Loans constituting each such portion shall be
considered a separate Borrowing. For the avoidance of doubt, this Section 2.07(a) shall not apply to Swingline Borrowings, which may not be converted or continued except in accordance with Section 2.04(c). 

  
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 (b) Notice of Elections. To make an election pursuant to this Section 2.07, the
Borrower shall notify the Administrative Agent of such election by telephone (confirmed by telecopy or electronic communication) by the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a
Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly (but no later than the close of business on the
date of such request) by hand delivery, telecopy or electronic communication to the Administrative Agent of a written Interest Election Request signed by the Borrower. 

(c) Content of Interest Election Requests. Each telephonic and written Interest Election Request shall specify the following
information in compliance with Section 2.02: 
 (i) the Borrowing (including the Class of Commitment) to which such
Interest Election Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to
clauses (iii) and (iv) of this paragraph shall be specified for each resulting Borrowing); 
 (ii) the effective
date of the election made pursuant to such Interest Election Request, which shall be a Business Day; 
 (iii) whether, in the
case of a Borrowing denominated in Dollars, the resulting Borrowing is to be an ABR Borrowing or a Term Benchmark Borrowing; and 

(iv) if the resulting Borrowing is a Term Benchmark Borrowing or RFR Borrowing, the Interest Period therefor after giving
effect to such election, which shall be a period contemplated by the definition of the term “Interest Period” and permitted under Section 2.02(d). 

(d) Notice by the Administrative Agent to the Lenders. Promptly following receipt of an Interest Election Request, the Administrative
Agent shall advise each applicable Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 
 (e)
Failure to Elect; Events of Default. If the Borrower fails to deliver a timely and complete Interest Election Request with respect to a Term Benchmark Borrowing prior to the end of the Interest Period therefor, then, unless such Borrowing is
repaid as provided herein, (i) if such Borrowing is denominated in Dollars, at the end of such Interest Period such Borrowing shall be converted to a Term Benchmark Borrowing of the same Class having an Interest Period of one (1)
month’s duration, and (ii) if such Borrowing is denominated in a Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one (1) month’s duration. Notwithstanding any contrary provision hereof, if an
Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing no outstanding Term Benchmark Borrowing or RFR
Borrowing denominated in a Foreign Currency may have an Interest Period of more than one (1) month’s duration. 

  
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 SECTION 2.08. Termination, Reduction or Increase of the Commitments. 

(a) Scheduled Termination. Unless previously terminated in accordance with the terms of this Agreement, the Revolving Commitments of
each Extending Lender with respect to such Extending Lender’s Extended Loans shall terminate on the Extended Commitment Termination Date and the Commitments of each Non-Extending Lender with respect to such Non-Extending Lender’s
Non-Extended Loans shall terminated on the Non-Extended Commitment Termination Date for such Non-Extending Lender. 
 (b) Voluntary
Termination or Reduction. The Borrower may at any time without premium or penalty terminate, or from time to time reduce, the Commitments ratably among (and within) each Class of Commitment; provided that (i) each reduction of the
Commitments shall be in an amount that is $5,000,000 (or, if less, the entire remaining amount of the Commitments of any Class) or a larger multiple of $1,000,000 in excess thereof (or the entire amount of the Commitments of such Class) and
(ii) the Borrower shall not terminate or reduce the Revolving Commitments if, immediately after giving effect to any concurrent prepayment of the Loans of any Class of Commitment in accordance with Section 2.10, the total Revolving Credit
Exposures of such Class would exceed the total Commitments of such Class. Any such reduction of the Commitments below the aggregate principal amount of the Swingline Loans permitted under Section 2.04(a)(i) and the aggregate amount of
Letters of Credit permitted under Section 2.05(c)(i) shall result in a dollar-for-dollar reduction of such amounts as applicable. 

(c) Notice of Voluntary Termination or Reduction. The Borrower shall notify the Administrative Agent of any election to terminate or
reduce the Commitments under paragraph (b) of this Section 2.08 at least three (3) Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following
receipt of any notice, the Administrative Agent shall advise the applicable Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section 2.08(c) shall be irrevocable; provided that a notice of
termination or reduction of the Commitments of a Class delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other events, in which case such notice may be revoked by the Borrower (by notice to the
Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. 
 (d) Effect of Termination or
Reduction. Any termination or reduction of the Commitments of a Class pursuant to clause (b) shall be permanent. Each reduction of the Commitments pursuant to clause (b) shall be made ratably between the Multicurrency Commitments and
the Dollar Commitments and ratably among the Lenders (including with respect to Extending Lenders and Non-Extending Lenders) in accordance with their respective Commitments of each Class. 

  
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 (e) Increase of the Commitments. 

(i) Requests for Increase by Borrower. The Borrower shall have the right, at any time on or after the Effective Date
but prior to the Extended Commitment Termination Date, to propose that the Commitments of a Class hereunder be increased (each such proposed increase being a “Commitment Increase”) (provided that in no event shall the Commitments of
a Non-Extending Lender be increased hereunder) by notice to the Administrative Agent, specifying each existing Lender (each an “Increasing Lender”) and/or each additional lender (each an “Assuming Lender”) that
shall have agreed to an additional Commitment and the date on which such increase is to be effective (the “Commitment Increase Date”), which shall be a Business Day at least three (3) Business Days (or such lesser period as the
Administrative Agent may reasonably agree) after delivery of such notice and at least thirty (30) days prior to the Extended Commitment Termination Date; provided that no Lender shall be obligated to provide any increased Commitment;
provided, further that: 
 (A) each increase shall be in a minimum amount of at least $25,000,000 or a larger
multiple of $5,000,000 in excess thereof (or such lesser amount as the Administrative Agent may reasonably agree); 
 (B) the
aggregate amount of all Commitments, including Commitment Increases effected pursuant to this Section 2.08(e), after giving effect, if applicable, to the substantially concurrent reduction of the Commitments of a Non-Extending Lender in
accordance with Section 2.08(f), shall not exceed $2,782,500,000; 
 (C) in the case of a Commitment Increase
under the Revolving Commitments, each Assuming Lender shall be consented to by the Administrative Agent and the Issuing Banks (in each case, which consent shall not be unreasonably withheld, conditioned or delayed); 

(D) in the case of any Commitment Increase (other than a Commitment Increase used in connection with a Specified Purchase), no
Default or Event of Default shall have occurred and be continuing on such Commitment Increase Date; and 
 (E) (1) in the
case of a Commitment Increase used in connection with a merger or consolidation with, or acquisition of all or substantially all of the assets of, any other business development company advised by the Advisor by an Obligor permitted under
Section 6.03 (such Person, a “Specified Target” and such merger, consolidation or acquisition a “Specified Purchase”), the Specified Representations (immediately after giving effect to such merger,
consolidation or acquisition) and the Specified Purchase Agreement Representations (immediately prior to giving effect to such merger, consolidation or acquisition) shall be true and correct in all material respects on and as of such Commitment
Increase Date, or (2) in the case of any other Commitment Increase, the representations and warranties made by the Borrower and/or its Significant Subsidiaries, as applicable, contained in this Agreement shall be true and correct in all
material respects (or, in the case of any portion of the representations and warranties already subject to a materiality qualifier, true and correct in all respects) on and as of the Commitment Increase Date as if made on and as of such date (or, if
any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date); 

  
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 (ii) Effectiveness of Commitment Increase by Borrower. The Assuming
Lender, if any, shall become a Lender hereunder as of such Commitment Increase Date with the Commitment in the amount set forth in the applicable Incremental Assumption Agreement, and the Commitment of the respective Class of any Increasing Lender
part of such Commitment Increase, and such Assuming Lender shall be increased as of such Commitment Increase Date to the amount set forth in the applicable Incremental Assumption Agreement; provided that: 

(A) the Administrative Agent shall have received a certificate of a duly authorized officer of the Borrower stating that each
of the applicable conditions to such Commitment Increase set forth in the foregoing paragraph (i) has been satisfied; 

(B) each Assuming Lender or Increasing Lender shall have delivered to the Administrative Agent, on or prior to such Commitment
Increase Date, an agreement (an “Incremental Assumption Agreement”), in form and substance reasonably satisfactory to the Borrower and the Administrative Agent, pursuant to which such Lender shall, effective as of such Commitment
Increase Date, undertake a Commitment or an increase of Commitment in each case of the respective Class, duly executed by such Assuming Lender or Increasing Lender, as applicable, and the Borrower and acknowledged by the Administrative Agent; and

 (C) [reserved]. 

(iii) Recordation into Register. Upon its receipt of an agreement referred to in clause (ii)(B) above executed by
an Assuming Lender or an Increasing Lender, together with the certificate referred to in clause (ii)(A) above, the Administrative Agent shall, if such agreement has been completed, (x) accept such agreement, (y) record the information
contained therein in the Register and (z) give prompt notice thereof to the Borrower. 
 (iv) Adjustments of
Borrowings upon Effectiveness of Increase. In the case of a Commitment Increase under the Revolving Commitments, on each Commitment Increase Date, the Borrower shall (A) prepay the outstanding Revolving Loans (if any) of the affected Class
in full, (B) simultaneously borrow new Revolving Loans of such Class hereunder in an amount equal to such prepayment (in the case of Term Benchmark Loans, with Relevant Rates equal to the outstanding Relevant Rates and with Interest Period(s)
ending on the date(s) of any then outstanding Interest Period(s); provided that for any outstanding Interest Period of less than one (1) month, the Interest Period will be deemed equal to one (1) month), as applicable (as modified
hereby); provided that with respect to subclauses (A) and (B), (x) the prepayment to, and borrowing from, any existing Revolving Lender shall be effected by book entry to the extent that any portion of the amount prepaid to
such Revolving Lender will be subsequently borrowed from such Revolving Lender and (y) the existing Revolving Lenders, the Increasing Lenders and the Assuming Lenders shall make and receive payments among themselves, in a manner acceptable to
the Administrative Agent, so that, after giving effect thereto, the Revolving Loans of such Class are held ratably by the Revolving Lenders of such Class in accordance with the respective Revolving Commitments of such Class of such Revolving Lenders
(after giving effect to such Commitment Increase) and (C) pay to the Revolving Lenders 

  
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of such Class the amounts, if any, payable under Section 2.15 as a result of any such prepayment. Concurrently therewith, the Revolving Lenders of such Class shall be deemed to have adjusted
their participation interests in any outstanding Swingline Loans and Letters of Credit of such Class so that such interests are held ratably in accordance with their Revolving Commitments of such Class as so increased. 

(v) Terms of Loans Issued on the Commitment Increase Date. The terms and provisions of any new Loans issued by any
Assuming Lender or Increasing Lender, and the Commitment Increase of any Assuming Lender or Increasing Lender, in the case of a Commitment Increase under the Revolving Commitments, shall be identical to the terms and provisions of Loans issued by,
and the Commitments of, the Revolving Lenders immediately prior to the applicable Commitment Increase Date (except that any upfront or similar one-time fee may be different). 

(f) Reduction of Non-Extending Lenders’ Commitment. Notwithstanding anything to the contrary herein (including
Section 2.08(d)): 
 (i) The Borrower may at any time (x) terminate, or from time to time reduce, the
Commitment of any Non-Extending Lender without reducing the Commitments of any other Lender of the same Class of Commitments of such Non-Extending Lender or (y) at any time after a Non-Extending Lender’s Non-Extended Commitment Termination
Date and so long as no Event of Default exists and the Adjusted Gross Borrowing Base exceeds the Covered Debt Amount at such time, prepay the Loans of such Non-Extending Lender without prepaying the Loans of any other Lender of the same Class of
Commitments of such Non-Extending Lender; provided that each reduction of the Commitment or prepayment of Loans of a Non-Extending Lender hereunder shall be in an amount that is $5,000,000 or a larger multiple of $1,000,000 in excess thereof
(or, in each case, the entire Commitment or outstanding Loans of such Non-Extending Lender, as applicable). 
 (ii) The
Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitment or prepay the Loans of any Non-Extending Lender under this clause (f) at least three Business Days (or such lesser period as the Administrative
Agent may reasonably agree) prior to (x) the related Commitment Increase Date in the case of any termination or reduction or (y) the effective date of such prepayment, in each case, specifying such election and the related Commitment
Increase Date or effective date thereof, as applicable. Promptly following receipt of any notice, the Administrative Agent shall advise each Lender of the contents thereof. Each notice delivered by the Borrower pursuant to this clause
(f) shall be irrevocable; provided that a notice of termination or reduction may state that such notice is conditioned upon the effectiveness of other events, in which case such notice may be revoked by the Borrower (by notice to the
Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. 
 (iii) Any
termination or reduction of the Commitment or prepayment of Loans of any Non-Extending Lender pursuant to this clause (f) shall be permanent and, if applicable in connection with any termination or reduction of Commitments, shall be made
concurrently with all required reallocation prepayments and cash collateralizations required under Section 2.21. 

  
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 SECTION 2.09. Repayment of Loans; Evidence of Debt. 

(a) Repayment. The Borrower hereby unconditionally promises to repay the Loans of each Class of Maturity Date or Commitments, as
applicable, as follows: 
 (i) to the Administrative Agent for the account of the applicable Lenders the outstanding
principal amount of each Class of the Loans on the applicable Maturity Date for such Class; and 
 (ii) to the applicable
Swingline Lender the then unpaid principal amount of each Swingline Loan made by such Swingline Lender, on the earlier of the Extended Commitment Termination Date and the first date after such Swingline Loan is made that is the 15th or last day of a
calendar month and is at least ten Business Days after such Swingline Loan is made; provided that any Swingline Loan that is not repaid timely in accordance with this clause (ii) shall be automatically converted to a Term Benchmark Loan
in accordance with Section 2.04(c); provided further that on each date that a Borrowing of such Class of Commitment is made, the Borrower shall repay all Swingline Loans of such Class of Commitment then outstanding. 

In addition, on the Extended Maturity Date, to the extent any Letter of Credit is outstanding (notwithstanding the requirements of
Section 2.05(d)), the Borrower shall deposit into the Letter of Credit Collateral Account Cash in an amount equal to 100% of the undrawn face amount of all Letters of Credit outstanding on the close of business on the Extended Maturity Date,
such deposit to be held by the Administrative Agent as collateral security for the LC Exposure under this Agreement in respect of the undrawn portion of such Letters of Credit. 

(b) Manner of Payment. Subject to Section 2.10(d), prior to any repayment or prepayment of any Borrowings hereunder, the Borrower
shall select the Borrowing or Borrowings to be paid and shall notify the Administrative Agent by telephone (confirmed by telecopy or electronic communication) of such selection not later than the time set forth in Section 2.10(e) prior
to the scheduled date of such repayment; provided that, each repayment of Borrowings to any Lenders of a Class shall be applied to repay or prepay any outstanding ABR Borrowings of such Class before any other Borrowings of such Class. If the
Borrower fails to make a timely selection of the Borrowing or Borrowings to be repaid or prepaid, such payment shall be applied, first, solely in the case of any payment of a Borrowing denominated in Dollars, to pay any outstanding ABR Borrowings
pro rata between any outstanding Dollar ABR Borrowings and outstanding Multicurrency ABR Borrowings, second, if no Class of Commitment is specified and such payment relates to a Borrowing denominated in Dollars, to any Pro-Rata Borrowings in the
order of the remaining duration of their respective Interest Periods (the Pro-Rata Borrowing with the shortest remaining Interest Period to be repaid or prepaid first) and, third, within each Class of Commitment, to any remaining Borrowings in the
order of the remaining duration of their respective Interest Periods (the Borrowing with the shortest remaining Interest Period to be repaid or prepaid first). Each payment of a Pro-Rata Borrowing shall be applied ratably between the Dollar Loans
and Multicurrency Loans included 

  
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in such Pro-Rata Borrowing. Other than in connection with a reduction or termination of commitments pursuant to Section 2.08(b) or (f), the occurrence of the Maturity Date with respect to
any Lender pursuant to Section 2.09(a) or a mandatory prepayment pursuant to Section 2.10(d), each payment of a Borrowing to Lenders of a Class shall be applied ratably (with respect to Extended Loans and Non-Extended Loans) to the Loans
of such Class included in such Borrowing. If the repayment or prepayment amount is denominated in Dollars and the Class of Commitment to be repaid or prepaid is not specified, the Borrower shall repay or prepay such amount pro rata between any
outstanding ABR Borrowings of the Dollar Lenders and the Multicurrency Lenders, and thereafter repay or prepay the remaining Borrowings denominated in Dollars in the order of the remaining duration of their respective Interest Periods, commencing
with such Borrowings with the shortest remaining Interest Period. If the repayment or prepayment is denominated in an Agreed Foreign Currency (including as a result of the Borrower’s receipt of proceeds from a prepayment event in such Agreed
Foreign Currency), the Borrower may, at its option, repay or prepay any outstanding Borrowings in such Currency ratably among just the Multicurrency Lenders in the order of the remaining duration of their respective Interest Periods, commencing with
such Borrowings with the shortest remaining Interest Period, and, if after such payment, the balance of the Borrowings denominated in such Currency is zero (0), then if there are any remaining proceeds, the Borrower shall repay or prepay the Loans
(or provide cover for outstanding Letters of Credit as contemplated by Section 2.05(l)) on a pro-rata basis between each outstanding Class of Revolving Credit Exposure in the order of the remaining duration of their respective Interest Periods,
commencing with such Borrowings with the shortest remaining Interest Period. 
 (c) Maintenance of Records by Lenders. Each Lender
shall maintain in accordance with its usual practice records evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts and Currency of principal and interest payable and paid to
such Lender from time to time hereunder. 
 (d) Maintenance of Records by the Administrative Agent. The Administrative Agent shall
maintain records in which it shall record (i) the amount and Currency of each Loan made hereunder, the Class and Type thereof and each Interest Period therefor, (ii) the amount and Currency of any principal or interest due and payable or
to become due and payable from the Borrower to each Lender of such Class of Commitment or Maturity Date hereunder and (iii) the amount and Currency of any sum received by the Administrative Agent hereunder for the account of the Lenders and
each Lender’s share thereof. 
 (e) Effect of Entries. The entries made in the records maintained pursuant to paragraph (c)
or (d) of this Section 2.09 shall be prima facie evidence, absent manifest error, of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to
maintain such records or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. In the event of any conflict between the accounts and records maintained by
any Lender and the accounts and records maintained by the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. In the event of any conflict between the
Register and any other accounts and records maintained by the Administrative Agent, the Register shall control in the absence of manifest error. 

  
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 (f) Promissory Notes. Any Lender may request that Loans made by it be evidenced by a
promissory note (or, in the case of any Lender having Commitments of different Classes, by separate promissory notes in respect of each Class of Commitments). In such event, the Borrower shall prepare, execute and deliver to such Lender a promissory
note payable to such Lender (or, if requested by such Lender, to such Lender and its permitted registered assigns) in substantially the form attached hereto as Exhibit E or in such other form as shall be reasonably satisfactory to the Administrative
Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 9.04) be represented by one (1) or more promissory notes in such form payable to the
payee named therein (or, if such promissory note is a registered note, to such payee and its permitted registered assigns). 
 SECTION
2.10. Prepayment of Loans. 
 (a) Optional Prepayments. The Borrower shall have the right at any time and from time to
time to prepay any Borrowing in whole or in part, without premium or penalty except for payments under Section 2.15, subject to the requirements of this Section 2.10. Any prepayment of a Borrowing made in accordance with this clause
(a) shall be applied ratably among the Lenders of a Class of Commitment unless such prepayment is made in connection with the reduction of Commitments in accordance with Section 2.08(b) or (f), in which case such prepayment shall be
applied in accordance with Section 2.08(d) or (f), as applicable. 
 (b) Mandatory Prepayments due to Changes in Exchange Rates.

 (i) Determination of Amount Outstanding. On each Revaluation Date, the Administrative Agent shall determine the
aggregate Revolving Multicurrency Credit Exposure. For the purpose of this determination, the outstanding principal amount of any Loan or LC Exposure that is denominated in any Foreign Currency shall be deemed to be the Dollar Equivalent of the
amount in the Foreign Currency of such Loan or LC Exposure, determined as of such Revaluation Date. Upon making such determination, the Administrative Agent shall promptly notify the Multicurrency Lenders and the Borrower thereof. 

(ii) Prepayment. 

(A) If, on the date of such determination the aggregate Revolving Multicurrency Credit Exposure minus the Multicurrency
LC Exposure fully cash collateralized pursuant to Section 2.05(l) on such date exceeds 105% of the aggregate amount of the Multicurrency Commitments as then in effect, the Borrower shall prepay the Multicurrency Loans and Swingline Loans
(and/or provide cover for Multicurrency LC Exposure as specified in Section 2.05(l)) within fifteen (15) Business Days following the date the Borrower receives notice from the Administrative Agent of such determination in such amounts, if
any, as shall be necessary so that after giving effect thereto and the determination of the aggregate Revolving Multicurrency Credit Exposure as of such date, the aggregate Revolving Multicurrency Credit Exposure does not exceed the Multicurrency
Commitments. Any prepayment pursuant to this paragraph shall be applied, first, to Swingline Loans, second, to Multicurrency Loans, and third, as cover for Multicurrency LC Exposure. 

  
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 (B) If, on the date of such determination the aggregate Revolving Dollar
Credit Exposure minus the Dollar LC Exposure fully cash collateralized pursuant to Section 2.05(l) on such date exceeds the aggregate amount of the Dollar Commitments as then in effect, the Borrower shall prepay the Dollar Loans (and/or
provide cover for Dollar LC Exposure as specified in Section 2.05(l)) within fifteen (15) Business Days following the date the Borrower receives notice from the Administrative Agent of such determination in such amounts, if any, as shall
be necessary so that after giving effect thereto and the determination of the aggregate Revolving Dollar Credit Exposure as of such date, the aggregate Revolving Dollar Credit Exposure does not exceed the Dollar Commitments. Any prepayment pursuant
to this paragraph shall be applied, first, to Dollar Loans outstanding and second, as cover for Dollar LC Exposure. 
 (c)
Mandatory Prepayments due to Borrowing Base Deficiency or Contingent Borrowing Base Deficiency. 
 (i) In the event
that at any time, but only for so long as, any Borrowing Base Deficiency shall exist, the Borrower shall, within five (5) Business Days after delivery of the applicable Borrowing Base Certificate, prepay the Revolving Loans (and/or provide
cover for Letters of Credit as contemplated by Section 2.05(l)), or reduce its other Indebtedness that is included in the Covered Debt Amount in such amounts as shall be necessary so that such Borrowing Base Deficiency is promptly cured;
provided that (i) the aggregate amount of such prepayment of Revolving Loans (and cover for Letters of Credit) shall be at least equal to the Revolving Credit Exposure’s ratable share (such ratable share being determined based on
the outstanding principal amount of the Revolving Credit Exposures as compared to its other Indebtedness that is included in the Covered Debt Amount) of the aggregate prepayment and reduction of its other Indebtedness that is included in the Covered
Debt Amount, (ii) any payment or repayment of Revolving Loans denominated in Dollars shall be made and applied ratably (based on the aggregate outstanding principal amounts of such Revolving Loans denominated in Dollars) between Dollar Lenders
and Multicurrency Lenders and (iii) if, within five (5) Business Days after delivery of a Borrowing Base Certificate demonstrating such Borrowing Base Deficiency (and/or at such other times as the Borrower has knowledge of such Borrowing
Base Deficiency), the Borrower shall present the Administrative Agent with a reasonably feasible plan to enable such Borrowing Base Deficiency to be cured within thirty (30) Business Days (which thirty (30) Business Day period shall
include the five (5) Business Days permitted for delivery of such plan), then such prepayment (and/or cash collateralization), reduction or addition of assets to the Borrowing Base shall not be required to be effected immediately but may be
effected in accordance with such plan (with such modifications as the Borrower may reasonably determine), so long as such Borrowing Base Deficiency is cured within such thirty (30) Business Day period; provided, further, that
solely to the extent such Borrowing Base Deficiency is due to a failure to satisfy the requirements of Section 5.13(h) as a consequence of a change in either (x) the ratio of the Gross Borrowing Base to the Senior Debt Amount or
(y) the Relevant Asset Coverage Ratio from one (1) quarterly period to the next, such thirty (30) Business Day period shall be extended to a forty-five (45) Business Day period solely with respect to compliance with
Section 5.13(h). 

  
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 (ii) In the event that at any time, but only for so long as, any Contingent
Borrowing Base Deficiency shall exist, the Borrower shall, within five (5) Business Days after delivery of the applicable Borrowing Base Certificate, prepay the Revolving Loans (and/or provide cover for Letters of Credit as contemplated by
Section 2.05(l)), reduce its other Indebtedness that is included in the Covered Debt Amount or otherwise remedy the Contingent Borrowing Base Deficiency in such amounts as shall be necessary so that such Contingent Borrowing Base Deficiency is
promptly cured; provided that (i) the aggregate amount of such prepayment of Revolving Loans (and cover for Letters of Credit) shall be at least equal to the Revolving Credit Exposure’s ratable share (such ratable share being
determined based on the outstanding principal amount of the Revolving Credit Exposures as compared to its other Indebtedness that is included in the Covered Debt Amount and Contingent Secured Indebtedness) of the aggregate prepayment and reduction
of its other Indebtedness that is included in the Covered Debt Amount and Contingent Secured Indebtedness, (ii) any payment or repayment of Revolving Loans denominated in Dollars shall be made and applied ratably (based on the aggregate
outstanding principal amounts of such Revolving Loans denominated in Dollars) between Dollar Lenders and Multicurrency Lenders and (iii) if, within five (5) Business Days after delivery of a Borrowing Base Certificate demonstrating such
Contingent Borrowing Base Deficiency (and/or at such other times as the Borrower has knowledge of such Contingent Borrowing Base Deficiency), the Borrower shall present the Administrative Agent with a reasonably feasible plan to enable such
Contingent Borrowing Base Deficiency to be cured within thirty (30) Business Days (which thirty (30) Business Day period shall include the five (5) Business Days permitted for delivery of such plan), then such prepayment (and/or cash
collateralization), reduction or addition of assets to the Borrowing Base shall not be required to be effected immediately but may be effected in accordance with such plan (with such modifications as the Borrower may reasonably determine), so long
as such Contingent Borrowing Base Deficiency is cured within such thirty (30) Business Day period; provided, further, that solely to the extent such Contingent Borrowing Base Deficiency is due to a failure to satisfy the
requirements of Section 5.13(h) as a consequence of a change in either (x) the ratio of the Gross Borrowing Base to the Senior Debt Amount or (y) the Relevant Asset Coverage Ratio from one (1) quarterly period to the next, such
thirty (30) Business Day period shall be extended to a forty-five (45) Business Day period solely with respect to compliance with Section 5.13(h). 

(d) Mandatory Prepayments During Amortization Period. During the period commencing on the date immediately following the Commitment
Termination Date with respect to any Loans of any Lender or Lenders and ending on the Maturity Date with respect to the Loans of such Lender or Lenders: 

(i) Asset Disposition. If the Borrower or any other Obligor receives any Net Cash Proceeds in excess of $2,000,000 in
the aggregate since the applicable Commitment Termination Date, the Borrower shall prepay an aggregate principal amount of such Loans owed to such Lender or Lenders equal to 100% of such Net Cash Proceeds of a Disposition no later than the fifth
Business Day following the receipt of such Net Cash Proceeds (such prepayments to be applied as set forth in Section 2.09(b)). 

  
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 (ii) Equity Issuance. Upon receipt by the Borrower or any other
Obligor of any Net Cash Proceeds of the issuance of any Equity Interests (other than pursuant to any distribution or dividend reinvestment plan), the Borrower shall prepay an aggregate principal amount of such Loans owed to such Lender or Lenders
equal to 75% of all Net Cash Proceeds received therefrom no later than the fifth Business Day following the receipt of such Net Cash Proceeds (such prepayments to be applied as set forth in Section 2.09(b)). 

(iii) Indebtedness. Upon the incurrence or issuance by the Borrower or any other Obligor of any Indebtedness for
borrowed money (excluding any Permitted Advisor Loan) by such Borrower or such other Obligor, as applicable, the Borrower shall prepay an aggregate principal amount of such Loans owed to such Lender or Lenders equal to 100% of all Net Cash Proceeds
received therefrom no later than the fifth Business Day following the receipt of such Net Cash Proceeds (such prepayments to be applied as set forth in Section 2.09(b)). 

(iv) Extraordinary Receipt. Upon any Extraordinary Receipt (which, when taken with all other Extraordinary Receipts
received after the applicable Commitment Termination Date, exceeds $5,000,000 in the aggregate) received by or paid to or for the account of the Borrower or any other Obligor, and not otherwise included in clauses (i), (ii) or
(iii) of this Section 2.10(d), the Borrower shall prepay an aggregate principal amount of such Loans owed to such Lender or Lenders equal to 100% of all Net Cash Proceeds received therefrom no later than the fifth Business
Day following the receipt of such Net Cash Proceeds (such prepayments to be applied as set forth in Section 2.09(b)). 

(v) Return of Capital. If any Obligor shall receive any Return of Capital and is not otherwise included in clauses
(i), (ii), (iii) or (iv) of this Section 2.10(d), (other than arising from any Transferred Assets), the Borrower shall prepay an aggregate principal amount of such Loans owed to such Lender or Lenders
equal to 90% of such Return of Capital (excluding amounts payable by the Borrower pursuant to Section 2.15) no later than the fifth Business Day following the receipt of such Return of Capital (such prepayments to be applied as set forth
in Section 2.09(b)). 
 Notwithstanding the foregoing, (I) Net Cash Proceeds and Return of Capital required to be applied
to the prepayment of the Loans pursuant to this Section 2.10(d) shall (A) (1) from the period commencing on any Non-Extended Commitment Termination Date and ending on the Extended Commitment Termination Date, be applied ratably
among the Non-Extending Lenders for which the Non-Extending Lender Commitment Termination Date shall have occurred and (2) from the Extended Commitment Termination Date to the Extended Maturity Date, be applied in accordance with the Guarantee
and Security Agreement and (B) exclude the amount necessary for the Borrower to make all required dividends and distributions (which shall be no less than the amount estimated in good faith by Borrower under Section 6.05(b) herein)
to maintain the status of a RIC under the Code and its election to be treated as a “business development company” under the Investment Company Act for so long as the Borrower retains such status and to avoid payment by the Borrower of
federal income and excise Taxes imposed by Section 4982 of the Code for so long as the Borrower retains the status of a RIC under the Code, and (II) if the Loans to be prepaid pursuant to this Section 2.10(d) are Term Benchmark
Loans, the Borrower may defer such prepayment until the last day of the Interest Period applicable to such Loans, so long as the 

  
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Borrower deposits an amount equal to such Net Cash Proceeds, no later than the fifth Business Day following the receipt of such Net Cash Proceeds, into a segregated collateral account in the name
and under the dominion and control of the Administrative Agent, pending application of such amount to the prepayment of the Loans on the last day of such Interest Period; provided, further, that the Administrative Agent may direct the
application of such deposits as set forth in Section 2.09(b) at any time and if the Administrative Agent does so, no amounts will be payable by the Borrower pursuant to Section 2.15. 

(e) Notices, Etc. The Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swingline Loan, the
applicable Swingline Lender) by telephone (confirmed by telecopy or electronic communication) of any prepayment hereunder (i) in the case of prepayment of a Term Benchmark Loan denominated in Dollars (other than in the case of a prepayment
pursuant to Section 2.10(d)), not later than 12:00 p.m., New York City time, three (3) Business Days before the date of prepayment, (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m.,
New York City time, on the date of prepayment, (iii) in the case of prepayment of a Swingline Loan, not later than 11:00 a.m., New York City time, on the date of prepayment, (iv) in the case of prepayment of an RFR Borrowing
(other than in the case of a prepayment pursuant to Section 2.10(d)), not later than 12:00 p.m., London time, four (4) Business Days before the date of prepayment, (v) in the case of a prepayment of a Term Benchmark Borrowing
denominated in a Foreign Currency (other than in the case of a prepayment pursuant to Section 2.10(d), not later than 12:00 p.m., New York time, four (4) Business Days before the date of prepayment, or (vi) in the case of any
prepayment pursuant to Section 2.10(d), not later than 11:00 p.m., New York City time, one Business Day before the date of prepayment or, in each case of the notice periods described in this paragraph (e), such lesser period as the
Administrative Agent may reasonably agree. Each such notice shall be irrevocable and shall specify the prepayment date, the principal amount of each Borrowing or portion thereof to be prepaid and, in the case of a mandatory prepayment, a reasonably
detailed calculation of the amount of such prepayment; provided that, if a notice of prepayment is given in connection with a conditional notice of termination or reduction of the Commitments of a Class as contemplated by Section 2.08,
then such notice of prepayment may be revoked if such notice of termination or reduction is revoked in accordance with Section 2.08. Promptly following receipt of any such notice relating to a Borrowing, the Administrative Agent shall advise
the affected Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of a Borrowing of the same Type as provided in Section 2.02, except as necessary to apply fully the
required amount of a mandatory prepayment or scheduled payment. Each prepayment of a Borrowing of a Class of Commitments or Maturity Date shall be applied ratably to the Loans held by the Lenders of such Class included in the prepaid Borrowing.
Prepayments shall be accompanied by accrued interest to the extent required by Section 2.12 and shall be made in the manner specified in Section 2.09(b) unless such prepayment is made in connection with the reduction of Commitments in
accordance with Section 2.08(b) or (f) or a mandatory prepayment pursuant to Section 2.10(d) in which case such prepayment shall be applied in accordance with Section 2.08(d), 2.08(f) or Section 2.10(d), as applicable. In
the event the Borrower is required to make any concurrent prepayments under both paragraph (c) and also any other paragraph of this Section 2.10, the prepayment pursuant to such other paragraph of this Section 2.10 shall be made prior
to any prepayment required to be made pursuant to paragraph (c) and the amount of the payment required pursuant to paragraph (c) (if any) shall be determined immediately after giving effect to the prepayment made (or to be made) under such
other paragraph of this Section 2.10. 

  
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 SECTION 2.11. Fees. 

(a) Commitment Fee. The Borrower agrees to pay to the Administrative Agent for the account of each Revolving Lender a commitment fee,
which shall accrue at 0.375% on the daily unused amount of the Dollar Commitment and Multicurrency Commitment, as applicable, of such Lender during the period from and including the Effective Date to but excluding the earlier of the date such
Commitment terminates and such Lender’s Commitment Termination Date. Accrued commitment fees shall be payable in arrears on the sixth (6th) Business Day after each Quarterly Date,
commencing on September 30, 2022, and on the earlier of the date the Commitments of the respective Class terminate and the Commitment Termination Date of such Class, commencing on the first such date to occur after the Effective Date. All
commitment fees shall be computed on the basis of a year of three hundred sixty (360) days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of computing commitment
fees, (i) the daily unused amount of the applicable Commitment shall be determined as of the end of each day and (ii) the Commitment of any Class of a Lender shall be deemed to be used to the extent of the outstanding Loans and LC Exposure
of such Class of such Lender (and the Swingline Exposure of such Class of such Lender shall be disregarded for such purpose). 
 (b)
Letter of Credit Fees. The Borrower agrees to pay (i) to the Administrative Agent for the account of each Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at a rate per annum equal to
the Applicable Margin applicable to interest on Term Benchmark Loans (or, if such Letter of Credit is denominated in GBP or CHF, RFR Loans) on the daily maximum amount of such Lender’s LC Exposure (excluding any portion thereof attributable to
unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s Commitment of the applicable Class terminates and the date on which such Lender ceases to have
any LC Exposure of such Class, and (ii) to each Issuing Bank a fronting fee, which shall accrue at the rate of 0.25% per annum on the daily maximum amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC
Disbursements) applicable to Letters of Credit issued by such Issuing Bank during the period from and including the Effective Date to but excluding the later of the date of termination of the Commitments and the date on which there ceases to be any
LC Exposure, as well as each Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees accrued through and
including each Quarterly Date shall be payable in arrears on the sixth (6th) Business Day following such Quarterly Date, commencing on September 30, 2022; provided that, all such
fees with respect to the Letters of Credit shall be payable on the date on which the Commitments of the applicable Class terminate (the “termination date”), the Borrower shall pay any such fees that have accrued and that are unpaid
on the termination date and, in the event any Letters of Credit shall be outstanding that have expiration dates after the termination date, the Borrower shall prepay on the termination date the full amount of the participation and fronting fees that
will accrue on such Letters of Credit subsequent to the termination date through but not including the date such outstanding Letters of Credit are scheduled to expire (and in that connection, the Lenders agree not later than the date two
(2) Business Days after the date upon which the last such Letter of Credit shall expire or be terminated to rebate to the Borrower the excess, if any, of the aggregate participation and fronting fees that have been prepaid by the Borrower over
the amount of such fees that ultimately accrue through the date of such expiration or termination). Any other fees payable to the Issuing Banks pursuant to this paragraph shall be payable within ten (10) Business Days after demand. All
participation fees and fronting fees shall be computed on the basis of a year of three hundred sixty (360) days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 

  
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 (c) Administrative Agent Fees. The Borrower agrees to pay to the Administrative
Agent, for its own account, fees payable in the amounts and at the times as set forth in the Administrative Agent Fee Letter dated as of the Effective Date between the Borrower and the Administrative Agent. 

(d) Payment of Fees. All fees payable hereunder shall be paid on the dates due, in Dollars (or, with the consent of the relevant
Issuing Bank, with respect to any fees payable to an Issuing Bank on account of Letters of Credit issued by such Issuing Bank in any Foreign Currency, in such Foreign Currency) and immediately available funds, to the Administrative Agent (or to the
Issuing Banks, in the case of fees payable to them) for distribution, in the case of commitment fees and participation fees, to the Lenders entitled thereto. Fees paid shall not be refundable under any circumstances absent manifest error. 

SECTION 2.12. Interest. 

(a) ABR Loans. The Loans constituting each ABR Borrowing (including each Swingline Loan) shall bear interest at a rate per annum equal
to the Alternate Base Rate plus the Applicable Margin. 
 (b) Term Benchmark Loans. The Loans constituting each Term Benchmark
Borrowing shall bear interest at a rate per annum equal to the Relevant Rate applicable to such Borrowing for the related Interest Period plus the Applicable Margin. 

(c) RFR Loans. The Loans constituting each RFR Borrowing shall bear interest at a rate per annum equal to the Daily Simple RFR
plus the Applicable Margin. 
 (d) Default Interest. Notwithstanding the foregoing clauses (a) through (c), if any
principal of or interest on any Loan or any fee or other amount payable by the Borrower hereunder is not paid when due (after giving effect to any grace or cure period), whether at stated maturity, upon acceleration, by mandatory prepayment or
otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided
above or (ii) in the case of any other amount, 2% plus (x) if such other amount is denominated in Dollars, the rate applicable to ABR Loans as provided in paragraph (a) of this Section 2.12, (y) if such other
amount is denominated in a Foreign Currency (other than GBP or CHF), the rate applicable to Term Benchmark Loans as provided in paragraph (b) of this Section 2.12 or (z) if such other amount is denominated in GBP or CHF, the rate
applicable to RFR Loans as provided in paragraph (c) of this Section 2.12. 
 (e) Payment of Interest. Accrued interest on
each Loan shall be payable in arrears to each Lender on each Interest Payment Date for such Loan in the Currency in which such Loan is denominated and upon such Lender’s Maturity Date; provided that (i) interest accrued pursuant to
paragraph (d) of this Section 2.12 shall be payable on demand, (ii) in the event of any repayment 

  
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or prepayment of any Loan (other than a prepayment of an ABR Loan prior to such Lender’s Maturity Date), accrued interest on the principal amount repaid or prepaid shall be payable on the
date of such repayment or prepayment and (iii) in the event of any conversion of any Term Benchmark Loan denominated in Dollars prior to the end of the Interest Period therefor, accrued interest on such Borrowing shall be payable on the
effective date of such conversion. 
 (f) Computation. All interest hereunder shall be computed on the basis of a year of three
hundred sixty (360) days, except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate and interest on all Loans denominated in GBP shall be computed on the basis of a
year of three hundred sixty five (365) days (or three hundred sixty six (366) days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The Alternate
Base Rate, each Relevant Rate and the Daily Simple RFR shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error. 

(g) Eurocurrency Loans. Notwithstanding anything to the contrary in this Agreement, all outstanding Eurocurrency Loans (as defined in
the Existing Credit Agreement) as of the Effective Date shall remain outstanding as Eurocurrency Loans until the end of the Interest Period applicable thereto as of the Effective Date (immediately prior to the effectiveness of this Agreement) and
thereafter shall be converted to ABR Loans or Term Benchmark Loans, as applicable, in accordance with the terms of this Agreement. 

SECTION 2.13. Market Disruption and Alternate Rate of Interest. 

(a) Subject to Section 2.13(b) below, if: 

(i) (A) prior to the commencement of any Interest Period for a Term Benchmark Borrowing in any Applicable Currency, the
Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining Term SOFR, the CDO Rate, the Adjusted EURIBO Rate, the AUD Rate, the TIBOR Rate, the
STIBOR Rate or the BKBM Rate, as applicable (including, without limitation, because the Relevant Screen Rate for such Interest Period is not available or published on a current basis and such circumstances are unlikely to be temporary) for such
Interest Period or (B) at any time, for an RFR Borrowing, the Administrative Agent determines that adequate and reasonable means do not exist for ascertaining the Daily Simple RFR (each determination under this clause (i) shall be made in
good faith and shall be conclusive absent manifest error); or 
 (ii) (A) prior to the commencement of any Interest Period
for a Term Benchmark Borrowing in any Applicable Currency, the Administrative Agent is advised by the Required Lenders of the applicable Class of Commitments or, in the case of a Pro-Rata Borrowing, the Required Lenders, that Term SOFR, the CDO
Rate, the Adjusted EURIBO Rate, the AUD Rate, the TIBOR Rate, the STIBOR Rate or the BKBM Rate, as applicable, for a Loan in such Applicable Currency or for the applicable Interest Period will not adequately and fairly reflect the cost to such
Lenders of making or maintaining the Loans included in such Borrowing for such Interest Period or (B) at any time, for an RFR Borrowing, the Administrative Agent is advised by Multicurrency Lenders constituting Required Lenders of such Class
that the Daily Simple RFR will not adequately and fairly reflect the cost to such Lenders of making or maintaining the Loans included in such Borrowing; 

  
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 then the Administrative Agent shall give written notice thereof (or telephonic notice,
promptly confirmed in writing) to the Borrower and the affected Lenders as promptly as practicable thereafter identifying the relevant provision above. Until the Administrative Agent shall notify the Borrower and the Lenders that the circumstances
giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing to, or the continuation of any Borrowing as, a Term Benchmark Borrowing denominated in the affected Currency shall be
ineffective and, if the affected Currency is Dollars, such Borrowing (unless prepaid) shall be continued as, or converted to, an ABR Borrowing at the end of the applicable Interest Period, (ii) if the affected Currency is Dollars and any
Borrowing Request requests a Term Benchmark Borrowing denominated in Dollars, such Borrowing shall be made as an ABR Borrowing, (iii) if the affected Currency is a Foreign Currency other than CAD, (A) any Borrowing Request that requests a
Term Benchmark Borrowing or RFR Borrowing denominated in the affected Currency shall be made as a Borrowing bearing interest at the Central Bank Rate for the applicable Agreed Foreign Currency; provided, that if the Administrative Agent determines
(which determination shall be conclusive and binding absent manifest error) that the Central Bank Rate for the applicable Agreed Foreign Currency cannot be determined, such Borrowing Request shall be ineffective, and (B) any outstanding Term
Benchmark Borrowing or RFR Borrowing in the affected Currency, at the Borrower’s election shall either (1) be converted to a Borrowing bearing interest at the Central Bank Rate for the applicable Agreed Foreign Currency; provided that, if
the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that the Central Bank Rate for the applicable Agreed Foreign Currency cannot be determined, such Borrowing shall be converted into an ABR
Borrowing denominated in Dollars (in an amount equal to the Dollar Equivalent of such affected Currency) immediately in the case of an RFR Borrowing or, in the case of a Term Benchmark Borrowing, at the end of the applicable Interest Period,
(2) be converted into an ABR Borrowing denominated in Dollars (in an amount equal to the Dollar Equivalent of such affected Currency) immediately in the case of an RFR Borrowing or, in the case of a Term Benchmark Borrowing, at the end of the
applicable Interest Period, or (3) be prepaid in full immediately in the case of an RFR Borrowing or, in the case of a Term Benchmark Borrowing, at the end of the applicable Interest Period, and (iv) if the affected Currency is CAD,
(A) any Borrowing Request that requests a Term Benchmark Borrowing denominated in Canadian Dollars shall be made as a Term Benchmark Borrowing with a Term Benchmark Rate equal to the Canadian Prime Rate; provided, that if the Administrative
Agent determines (which determination shall be conclusive and binding absent manifest error) that the Canadian Prime Rate cannot be determined, such Borrowing Request shall be ineffective, and (B) any outstanding Term Benchmark Borrowing in
CAD, at the Borrower’s election, shall either (1) be converted to a Term Benchmark Borrowing denominated in CAD with a Term Benchmark Rate equal to the Canadian Prime Rate at the end of applicable Interest Period, (2) be converted
into an ABR Borrowing denominated in Dollars (in an amount equal to the Dollar Equivalent of such affected Currency) at the end of the applicable Interest Period, or (3) be prepaid in full at the end of the applicable Interest Period;
provided that if no election is made by the Borrower by the date that is three Business Days after receipt by the Borrower of such notice or, in the case of a Term Benchmark Borrowing, the last day of the current Interest Period for the
applicable Term Benchmark Loan, if earlier, the Borrower shall be deemed to have elected clause (iii)(B)(1) or (iv)(B)(1) above, as applicable. 

  
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 (b) Notwithstanding anything to the contrary herein or in any other Loan Document, if a
Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior to any setting of the then-current Benchmark for an Applicable Currency, then (x) if a Benchmark Replacement for the Term SOFR Reference Rate is
determined in accordance with clause (1) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document
in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document and (y) if a Benchmark Replacement is determined in
accordance with clause (2) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for such Applicable Currency for all purposes hereunder and under any
Loan Document in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Lenders without any amendment to, or further
action or consent of any other party to, this Agreement or any other Loan Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising (x) in the
case of a Benchmark Replacement for Dollars, the Required Lenders, and, (y) in the case of a Benchmark Replacement for any Foreign Currency, the Required Multicurrency Lenders. If the Benchmark Replacement is Daily Simple SOFR, all interest
payments will be payable on a quarterly basis. 
 (c) In connection with the use, administration, adoption or implementation of a Benchmark
Replacement, the Administrative Agent (after consulting with the Borrower) will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments
implementing such Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. 

(d) The Administrative Agent will promptly notify the Borrower and the Lenders of (i) any occurrence of a Benchmark Transition Event,
(ii) the implementation of any Benchmark Replacement, and (iii) the effectiveness of any Conforming Changes in connection with the use, administration, adoption or implementation of a Benchmark Replacement. The Administrative Agent will
notify the Borrower of (x) the removal or reinstatement of any tenor of a Benchmark pursuant to clause (e) below and (y) the commencement of any Benchmark Unavailability Period. Any determination, decision or election that may
be made by the Administrative Agent or, if applicable, any Lender (or group of Lenders) pursuant to this Section 2.13, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an
event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to
this Agreement or any other Loan Document, except, in each case, as expressly required pursuant to this Section 2.13. 

  
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 (e) Notwithstanding anything to the contrary herein or in any other Loan Document, at any
time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark for an Applicable Currency is a term rate (including the Term SOFR Reference Rate or the applicable Relevant Rate) and either
(A) any tenor for such Benchmark for such Applicable Currency is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion or
(B) the regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark for such Applicable Currency is not or will not be representative,
then the Administrative Agent may modify the definition of “Interest Period” (or any similar or analogous definition) for any Benchmark settings for such Applicable Currency 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 (A) is subsequently displayed on a screen or information service for a Benchmark for such Applicable Currency (including a Benchmark
Replacement) or (B) is not, or is no longer, subject to an announcement that it is not or will not be representative for a Benchmark for such Applicable Currency (including a Benchmark Replacement), then the Administrative Agent may modify the
definition of “Interest Period” (or any similar or analogous definition) for all Benchmark settings for such Applicable Currency at or after such time to reinstate such previously removed tenor. 

(f) Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending
request for a Term Benchmark Borrowing or RFR Borrowing of, conversion to or continuation of Term Benchmark Loans or RFR Loans in each affected Currency to be made, converted or continued during any Benchmark Unavailability Period and, failing that,
(i) any Interest Election Request that requests the conversion of any Borrowing to, or the continuation of any Borrowing as, a Term Benchmark Borrowing denominated in the affected Applicable Currency shall be ineffective and, if the affected
Applicable Currency is Dollars, such Borrowing (unless prepaid) shall be continued as, or converted to, an ABR Borrowing at the end of the applicable Interest Period, (ii) if the affected Applicable Currency is Dollars and any Borrowing
Request requests a Term Benchmark Borrowing denominated in Dollars, such Borrowing shall be made as an ABR Borrowing, (iii) if the affected Applicable Currency is a Foreign Currency other than CAD, (A) any Borrowing Request that requests a
Term Benchmark Borrowing or RFR Borrowing denominated in the affected Applicable Currency shall be made as a Borrowing bearing interest at the Central Bank Rate for the applicable Agreed Foreign Currency; provided, that if the Administrative Agent
determines (which determination shall be conclusive and binding absent manifest error) that the Central Bank Rate for the applicable Agreed Foreign Currency cannot be determined, such Borrowing Request shall be ineffective, and (B) any
outstanding Term Benchmark Borrowing or RFR Borrowing in the affected Applicable Currency, at the Borrower’s election shall either (1) be converted to a Borrowing bearing interest at the Central Bank Rate for the applicable Agreed Foreign
Currency; provided that, if the Administrative Agent determines (which determination shall be conclusive and binding absent manifest error) that the Central Bank Rate for the applicable Agreed Foreign Currency cannot be determined, such Borrowing
shall be converted into an ABR Borrowing denominated in Dollars (in an amount equal to the Dollar Equivalent of such affected Applicable Currency) immediately in the case of an RFR Borrowing or, in the case of a Term Benchmark Borrowing, at the end
of the applicable Interest Period, (2) be converted into an ABR Borrowing denominated in Dollars (in an amount equal to the Dollar Equivalent of such affected Applicable Currency) immediately in the case of an RFR Borrowing or, in the case of a
Term Benchmark Borrowing, at the end of the applicable Interest Period, or (3) be prepaid in full immediately in the case of an RFR Borrowing or, in the case of a Term Benchmark Borrowing, at 

  
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the end of the applicable Interest Period, and (iv) if the affected Applicable Currency is CAD, (A) any Borrowing Request that requests a Term Benchmark Borrowing denominated in
Canadian Dollars shall be made as a Term Benchmark Borrowing with a Term Benchmark Rate equal to the Canadian Prime Rate; provided, that if the Administrative Agent determines (which determination shall be conclusive and binding absent manifest
error) that the Canadian Prime Rate cannot be determined, such Borrowing Request shall be ineffective, and (B) any outstanding Term Benchmark Borrowing in CAD, at the Borrower’s election, shall either (1) be converted to a Term
Benchmark Borrowing denominated in CAD with a Term Benchmark Rate equal to the Canadian Prime Rate at the end of applicable Interest Period, (2) be converted into an ABR Borrowing denominated in Dollars (in an amount equal to the Dollar
Equivalent of such affected Applicable Currency) at the end of the applicable Interest Period, or (3) be prepaid in full at the end of the applicable Interest Period; provided that if no election is made by the Borrower by the date that
is three Business Days after receipt by the Borrower of such notice or, in the case of a Term Benchmark Borrowing, the last day of the current Interest Period for the applicable Term Benchmark Loan, if earlier, the Borrower shall be deemed to have
elected clause (iii)(B)(1) or (iv)(B)(1) above, as applicable. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Alternate Base Rate
based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Alternate Base Rate. 

SECTION 2.14. Increased Costs. 

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

(i) impose, modify or deem applicable any reserve (including pursuant to regulations issued from time to time by the Board for
determining the maximum reserve requirement (including any emergency, special, supplemental, or other marginal reserve requirement) with respect to eurocurrency funding (currently referred to as “Eurocurrency liabilities” in Regulation D),
compulsory loan, insurance charge, special deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted EURIBO Rate) or any
Issuing Bank; 
 (ii) impose on any Lender or any Issuing Bank or the relevant interbank market for an Agreed Foreign
Currency any other condition, cost or expense (other than Taxes), affecting this Agreement or Term Benchmark Loans or RFR Loans made by such Lender or any Letter of Credit issued by such Issuing Bank or participation by such Lender therein; or 

(iii) subject any Lender, any Issuing Bank or the Administrative Agent to any Taxes (other than Indemnified Taxes and Excluded
Taxes) on its loans, loan principal, letters of credit, commitments or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; 

  
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 and the result of any of the foregoing shall be to increase the cost to such Lender or the Administrative
Agent of making, continuing, converting into or maintaining any Term Benchmark Loan or RFR Loan (or any Loan, if such increase is in respect of Taxes) (or of maintaining its obligation to make any such Loan) or to increase the cost to such Lender,
such Issuing Bank or the Administrative Agent of participating in, issuing or maintaining any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender, such Issuing Bank or the Administrative Agent hereunder (whether
of principal, interest or otherwise), then, upon the request of such Lender, such Issuing Bank or the Administrative Agent, the Borrower will pay to such Lender, such Issuing Bank or the Administrative Agent, as the case may be, in Dollars, such
additional amount or amounts as will compensate such Lender, such Issuing Bank or the Administrative Agent, as the case may be, for such additional costs incurred or reduction suffered; provided that no Lender will claim the payment of any of
the amounts referred to in this paragraph (a) if not generally claiming similar compensation from its other similar customers in similar circumstances. 

(b) Capital Requirements. If any Lender or any Issuing Bank determines that any Change in Law regarding capital or liquidity
requirements has or would have the effect of reducing the rate of return on such Lender’s or such Issuing Bank’s capital or on the capital of such Lender’s or such Issuing Bank’s holding company, if any, as a consequence of this
Agreement or the Loans made by, or participations in Swingline Loans and Letters of Credit held by, such Lender, or the Letters of Credit issued by such Issuing Bank, to a level below that which such Lender or such Issuing Bank or such Lender’s
or such Issuing Bank’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s or such Issuing Bank’s policies and the policies of such Lender’s or such Issuing Bank’s holding
company with respect to capital adequacy), by an amount deemed to be material by such Lender or such Issuing Bank, then, upon the request of such Lender or such Issuing Bank, the Borrower will pay to such Lender or such Issuing Bank, as the case may
be, in Dollars, such additional amount or amounts as will compensate such Lender or such Issuing Bank or such Lender’s or such Issuing Bank’s holding company for any such reduction suffered; provided that no Lender will claim the
payment of any of the amounts referred to in this paragraph (b) if not generally claiming similar compensation from its other similar customers in similar circumstances. 

(c) Certificates from Lenders. A certificate of a Lender or an Issuing Bank (x) setting forth in reasonable detail the basis for
and the calculation of the amount or amounts, in Dollars, necessary to compensate such Lender or such Issuing Bank or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section 2.14, (y) setting
forth in reasonable detail the manner of determination of such amount or amounts and (z) certifying that such Lender or such Issuing Bank or its holding company, as the case may be, is generally claiming similar compensation from its other
similar customers in similar circumstances, shall be promptly delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender or such Issuing Bank, as the case may be, the amount shown as due on any such
certificate within ten (10) Business Days after receipt thereof. 
 (d) Delay in Requests. Failure or delay on the part of any
Lender or any Issuing Bank to demand compensation pursuant to this Section 2.14 shall not constitute a waiver of such Lender’s or such Issuing Bank’s right to demand such compensation; provided that the Borrower shall not be
required to compensate a Lender or an Issuing Bank pursuant to this Section 2.14 for any increased costs or reductions incurred more than three (3) months prior to the date that such Lender or such Issuing Bank, as the case may be,
notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or such Issuing Bank’s intention to claim compensation therefor; provided further that, if the Change in Law giving
rise to such increased costs or reductions is retroactive, then the three (3) month period referred to above shall be extended to include the period of retroactive effect thereof. 

  
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 SECTION 2.15. Break Funding Payments. (a) In the event of (i) the
payment of any principal of any Term Benchmark Loan other than on the last day of an Interest Period therefor (including as a result of the occurrence of any Commitment Increase Date or an Event of Default), (ii) the conversion of any Term
Benchmark Loan other than on the last day of an Interest Period therefor, (iii) the failure to borrow, convert, continue or prepay any Term Benchmark Loan on the date specified in any notice delivered pursuant hereto (including, in connection
with any Commitment Increase Date, and regardless of whether such notice is permitted to be revocable under Section 2.10(f) and is revoked in accordance herewith), or (iv) the assignment as a result of a request by the Borrower pursuant to
Section 2.19(b) of any Term Benchmark Loan other than on the last day of an Interest Period therefor, then, in any such event, the Borrower shall compensate each affected Lender for such Lender’s loss, cost and expense attributable to such
event (excluding loss of anticipated profits). 
 (b) Payment under this Section 2.15 shall be made upon written request of a Lender
delivered to the Borrower not later than ten (10) Business Days following the payment, conversion, or failure to borrow, convert, continue or prepay that gives rise to a claim under this Section 2.15 accompanied by a written certificate of
such Lender setting forth in reasonable detail the amount or amounts that such Lender is entitled to receive pursuant to this Section 2.15 and the basis for and the manner of determination of such amount or amounts, which certificate shall be
conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within ten (10) Business Days after receipt thereof. 

SECTION 2.16. Taxes. 

(a) Payments Free of Taxes. Any and all payments by or on account of any obligation of the Borrower hereunder or under any other Loan
Document shall be made free and clear of and without deduction or withholding for any taxes, except as required by applicable law; provided that if the Borrower shall be required to deduct or withhold any Indemnified Taxes or Other Taxes from
such payments, then (i) the sum payable shall be increased as necessary so that after making all required deductions or withholdings (including deductions or withholdings applicable to additional sums payable under this Section 2.16) the
Administrative Agent, Lender or Issuing Bank (as the case may be) receives an amount equal to the sum it would have received had no such deductions or withholdings been made, (ii) the Borrower shall make such deductions or withholdings and
(iii) the Borrower shall pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law. 

(b) Payment of Other Taxes by the Borrower. In addition, the Borrower shall pay any Other Taxes to the relevant Governmental Authority
in accordance with applicable law. 
 (c) Indemnification by the Borrower. The Borrower shall indemnify the Administrative Agent,
each Lender and each Issuing Bank for, and within thirty (30) Business Days after written demand therefor, pay the full amount of any Indemnified Taxes or Other Taxes (including Indemnified Taxes or Other Taxes imposed or asserted on or
attributable to amounts 

  
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payable under this Section 2.16) paid by the Administrative Agent, such Lender or such Issuing Bank, as the case may be, and any penalties, interest and reasonable expenses arising therefrom
or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower
by a Lender or an Issuing Bank, or by the Administrative Agent on its own behalf or on behalf of a Lender or an Issuing Bank, shall be conclusive absent manifest error. 

(d) Indemnification by the Lenders. Each Lender and each Issuing Bank shall severally indemnify the Administrative Agent, within thirty
(30) days after demand thereof, for (i) any Indemnified Taxes attributable to such Lender or Issuing Bank (but only to the extent that a party to this Agreement has not already indemnified the Administrative Agent for such Indemnified
Taxes and without limiting the obligation of any party to this Agreement to do so), (ii) any Taxes attributable to such Lender or Issuing Bank’s failure to comply with the provisions of Section 9.04(e) relating to the maintenance of a
Participant Register and (iii) any Excluded Taxes attributable to such Lender or Issuing Bank, in each case that are payable or paid by the Administrative Agent in connection with this Agreement or any other Loan Document and any reasonable
expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender
or Issuing Bank by the Administrative Agent shall be conclusive absent manifest error. Each Lender and each Issuing Bank hereby authorize the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender or Issuing
Bank under this Agreement or any other Loan Document or otherwise payable by the Administrative Agent to such Lender or Issuing Bank from any other source against any amount due to the Administrative Agent under this paragraph. 

(e) Evidence of Payments. As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower to a
Governmental Authority, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence
of such payment reasonably satisfactory to the Administrative Agent. 
 (f) Foreign Lenders. Any Foreign Lender that is entitled to
an exemption from or reduction of withholding Tax under the law of the jurisdiction in which the Borrower is located, or any treaty to which such jurisdiction is a party, with respect to payments under this Agreement shall deliver to the Borrower
(with a copy to the Administrative Agent), at the time or times prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation prescribed by applicable law as will
permit such payments to be made without withholding or at a reduced rate. 
 In addition, any Foreign Lender, if requested by the Borrower
or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not
such Foreign Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two (2) sentences, the completion, execution and delivery of such documentation (other than
such documentation set forth in Sections 2.16(f)(i)-(iv) or Section 2.16(h)) shall not be required if in the Foreign Lender’s reasonable judgment such completion, execution or delivery would subject such Foreign Lender to any
material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Foreign Lender. 

  
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 Without limiting the generality of the foregoing, if the Borrower is resident for tax
purposes in the United States, any Foreign Lender shall deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender
under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent, but only if such Foreign Lender is legally entitled to do so), whichever of the following is applicable: 

(i) duly completed copies of Internal Revenue Service Form W-8BEN or Internal Revenue
Service Form W-8BEN-E claiming eligibility for benefits of an income tax treaty to which the United States is a party, 

(ii) duly completed copies of Internal Revenue Service Form W-8ECI certifying that the
income receivable pursuant to this Agreement is effectively connected with the conduct of a trade or business in the United States, 

(iii) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c)
of the Code, (A) a certificate to the effect that such Foreign Lender is not (1) a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (2) a “10 percent shareholder” of the Borrower within the
meaning of Section 881(c)(3)(B) of the Code, or (3) a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code and (B) duly completed copies of Internal Revenue Service Form W-8BEN or Internal Revenue Service Form W-8BEN-E certifying that the Foreign Lender is not a United States Person, or 

(iv) duly completed copies of Internal Revenue Service Form W-8IMY; together with an
IRS Form W-8BEN or IRS Form W-8BEN-E or any other supplementary documentation as may be prescribed by applicable law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made. 

Each Foreign Lender shall promptly notify the Borrower and the Administrative Agent at any time the chief tax officer of such Foreign Lender
becomes aware that it no longer satisfies the legal requirements to provide any previously delivered form or certificate to the Borrower. 

(g) United States Lenders. Each Lender and each Issuing Bank that is not a Foreign Lender shall deliver to the Borrower (with a copy to
the Administrative Agent), prior to the date on which such Issuing Bank or Lender becomes a party to this Agreement, upon the expiration or invalidity of any forms previously delivered and at times reasonably requested by the Borrower or the
Administrative Agent, duly completed copies of Internal Revenue Service Form W-9 or any successor form, provided it is legally able to do so at the time. In addition, if requested by the Borrower or the
Administrative Agent, each Lender and each Issuing Bank shall deliver such other documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent
to determine whether or not such Lender or Issuing Bank is subject to backup withholding or information 

  
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reporting requirements. Notwithstanding anything to the contrary in the preceding two (2) sentences, the completion, execution and delivery of such documentation (other than completed copies
of Internal Revenue Service Form W-9 or documentation required under Section 2.16(h)) shall not be required if in the Lender or Issuing Bank’s reasonable judgment such completion, execution or delivery would subject such Lender or Issuing
Bank to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender or Issuing Bank. 

(h) FATCA. If a payment made to a Lender or Issuing Bank under any Loan Document would be subject to United States federal withholding
Tax imposed by FATCA if such Lender or Issuing Bank were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender or Issuing Bank
shall deliver to the Borrower and the Administrative Agent at the time or times prescribed by Law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable Law (including
as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their
obligations under FATCA and to determine that such Lender or Issuing Bank has complied with such Lender or Issuing Bank’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this
clause (h), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. Each Lender and Issuing Bank agrees that if any form or certification it previously delivered under Section 2.16(f), (g) or
(h) expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. 

(i) Treatment of Certain Refunds. If the Administrative Agent, any Lender or any Issuing Bank determines, in its sole discretion, that
it has received a refund (or credit in lieu of such refund) of any Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section 2.16, it
shall pay to the Borrower an amount equal to such refund or credit (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section 2.16 with respect to the Taxes or Other Taxes giving rise to
such refund or credit), net of all reasonable out-of-pocket expenses of the Administrative Agent, any Lender or any Issuing Bank, as the case may be, and without interest (other than any interest paid by the relevant Governmental Authority with
respect to such refund or credit), provided that the Borrower, upon the request of the Administrative Agent, any Lender or any Issuing Bank, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges
imposed by the relevant Governmental Authority) to the Administrative Agent, any Lender or any Issuing Bank in the event the Administrative Agent, any Lender or any Issuing Bank is required to repay such refund or credit to such Governmental
Authority. Notwithstanding anything to the contrary in this paragraph (i), in no event will the Administrative Agent, any Lender or any Issuing Bank be required to pay any amount to the Borrower pursuant to this paragraph (i) the payment
of which would place the Administrative Agent or such Lender in a less favorable net after-Tax position than the Administrative Agent, such Lender or such Issuing Bank would have been in if the indemnification payments or additional amounts giving
rise to such refund had never been paid. This subsection shall not be construed to require the Administrative Agent, any Lender or any Issuing Bank to make available its tax returns or its books or records (or any other information relating to its
taxes that it deems confidential) to the Borrower or any other Person. 

  
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 SECTION 2.17. Payments Generally; Pro Rata Treatment; Sharing of Set-offs.

 (a) Payments by the Borrower. The Borrower shall make each payment required to be made by it hereunder (whether of principal,
interest, fees or reimbursement of LC Disbursements, or under Section 2.14, 2.15 or 2.16, or otherwise) or under any other Loan Document (except to the extent otherwise provided therein) prior to 2:00 p.m., New York City time, on the date
when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for
purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at the Administrative Agent’s Account, except as otherwise expressly provided in the relevant Loan Document and except payments to be made
directly to an Issuing Bank or a Swingline Lender as expressly provided herein and payments pursuant to Sections 2.14, 2.15, 2.16 and 9.03, which shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute
any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended
to the next succeeding Business Day and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All amounts owing under this Agreement (including commitment fees, payments required under
Section 2.14, and payments required under Section 2.15 relating to any Loan denominated in Dollars, but not including principal of, and interest on, any Loan denominated in any Foreign Currency or payments relating to any such Loan
required under Section 2.15 or any reimbursement or cash collateralization of any LC Exposure denominated in any Foreign Currency, which are payable in such Foreign Currency) or under any other Loan Document (except to the extent otherwise
provided therein) are payable in Dollars. Notwithstanding the foregoing, if the Borrower shall fail to pay any principal of any Loan when due (whether at stated maturity, by acceleration, by mandatory prepayment or otherwise), the unpaid portion of
such Loan shall, if such Loan is not denominated in Dollars, automatically be redenominated in Dollars on the due date thereof (or, if such due date is a day other than the last day of the Interest Period therefor, on the last day of such Interest
Period) in an amount equal to the Dollar Equivalent thereof on the date of such redenomination and such principal shall be payable on demand; and if the Borrower shall fail to pay any interest on any Loan that is not denominated in Dollars, such
interest shall automatically be redenominated in Dollars on the due date therefor (or, if such due date is a day other than the last day of the Interest Period therefor, on the last day of such Interest Period) in an amount equal to the Dollar
Equivalent thereof on the date of such redenomination and such interest shall be payable on demand. 
 (b) Application of Insufficient
Payments. If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees of a Class of Commitments or Maturity Date then due
hereunder, such funds shall be applied (i) first, to pay interest and fees of such Class then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees of such Class then due to such parties,
and (ii) second, to pay principal and unreimbursed LC Disbursements of such Class then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and unreimbursed LC Disbursements of such Class then
due to such parties. 

  
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 (c) Pro Rata Treatment. Except to the extent otherwise provided herein:
(i) other than with respect to any Borrowing requested pursuant to Section 2.21, each Borrowing of a Class shall be made from the Lenders of such Class of Commitments and each Borrowing of a Class requested pursuant to Section 2.21
shall be made from each Extending Lender of such Class of Commitment and each Non-Extending Lender for which the Non-Extended Commitment Termination Date shall not have occurred of such Class of Commitment, and each termination or reduction of the
amount of the Commitments of a Class of Commitments or Maturity Date under Section 2.08 shall be applied to the respective Commitments of the Lenders of such Class of Commitments or Maturity Date, pro rata according to the amounts of their
respective Commitments of such Class of Commitments or Maturity Date; (ii) each Borrowing of a Class of Commitments or Maturity Date shall be allocated pro rata among the Lenders of such Class according to the amounts of their respective
Commitments of such Class (in the case of the making of Loans) or their respective Loans of such Class that are to be included in such Borrowing (in the case of conversions and continuations of Loans); (iii) each payment of commitment fees
under Section 2.11 shall be made for the account of the Lenders pro rata according to the average daily unused amounts of their respective Commitments; (iv) each payment or prepayment of principal of Loans of a Class of Commitments or
Maturity Date by the Borrower shall be made for the account of the Lenders of such Class of Commitments or Maturity Date pro rata in accordance with the respective unpaid principal amounts of the Loans of such Class of Commitments or Maturity Date
held by them; and (v) each payment of interest on Loans of a Class of Commitments or Maturity Date by the Borrower shall be made for the account of the Lenders of such Class of Commitments or Maturity Date pro rata in accordance with the
amounts of interest on such Loans then due and payable to such Lenders. For the avoidance of doubt, no payments shall be allocated solely to Non-Extending Lenders following the occurrence and during the continuance of an Event of Default or if the
Covered Debt Amount exceeds the Adjusted Gross Borrowing Base at such time. 
 (d) Sharing of Payments by Lenders. If any Lender of a
Class of Commitment shall, by exercising any right of set-off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Loans, or participations in LC Disbursements or Swingline Loans, of such Class
resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans, and participations in LC Disbursements and Swingline Loans, and accrued interest thereon of such Class then due than the proportion received by
any other Lender of such Class, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans, and participations in LC Disbursements and Swingline Loans, of other Lenders of such Class to the
extent necessary so that the benefit of all such payments shall be shared by the Lenders of such Class ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans, and participations in LC
Disbursements and Swingline Loans of such Class; provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase
price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by the Borrower pursuant to and in accordance with the express terms of this
Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or participations in LC Disbursements to any assignee or participant, other than to the

  
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Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). The Borrower consents to the foregoing and agrees, to the extent it may effectively do
so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a
direct creditor of the Borrower in the amount of such participation. For the avoidance of doubt, the Borrower may make a Borrowing under the Dollar Commitments or Multicurrency Commitments (if otherwise permitted hereunder) and may use the proceeds
of such Borrowing (x) with Dollar Commitments to prepay the Multicurrency Loans (without making a ratable prepayment of the Dollar Loans) or (y) with Multicurrency Commitments to prepay the Dollar Loans (without making a ratable payment to
the Multicurrency Loans). 
 (e) Presumptions of Payment. Unless the Administrative Agent shall have received notice from the
Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the Issuing Banks hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has
made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or the Issuing Banks, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment,
then each of the Lenders or each of the Issuing Banks, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or such Issuing Bank with interest thereon, for each day
from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the Federal Funds Effective Rate. 

(f) Certain Deductions by the Administrative Agent. If any Lender shall fail to make any payment required to be made by it pursuant to
Section 2.05(e), 2.06(a), 2.17(d) or 9.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender
to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid. 
 SECTION 2.18.
Defaulting Lenders. 
 Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender,
then the following provisions shall apply for so long as such Lender is a Defaulting Lender: 
 (a) commitment fees pursuant to
Section 2.11(a) shall cease to accrue on the unfunded portion of the Revolving Commitment of such Defaulting Lender; 
 (b) the
Commitment and Credit Exposure of such Defaulting Lender shall not be included in determining whether two-thirds (2/3rds) of the Lenders, two-thirds (2/3rds) of the Lenders of a Class, the Required Lenders or the Required Lenders of a
Class have taken or may take any action hereunder or any other Loan Documents (including any consent to any amendment or waiver pursuant to Section 9.02), provided that any waiver, amendment or modification requiring the consent of all
Lenders (or all Lenders of a Class) or each affected Lender (if applicable to such Defaulting Lender), including as set forth in Section 9.02(b)(i), (ii), (iii), (iv) or (v), shall require the consent of such Defaulting Lender; 

  
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 (c) if any Swingline Exposure or LC Exposure exists at the time a Lender becomes a
Defaulting Lender then: 
 (i) all or any part of such Swingline Exposure (other than the portion of such Swingline Exposure
consisting of Swingline Loans made by such Defaulting Lender) and LC Exposure shall be reallocated among the non-Defaulting Lenders holding Commitments of the same Class as such Defaulting Lender in accordance with their respective Applicable
Multicurrency Percentages or Applicable Dollar Percentages, as applicable, but only to the extent (x) in the case of a Defaulting Lender that holds Commitments of a particular Class, the sum of all non-Defaulting Lenders’ Revolving Credit
Exposures of such Class plus such Defaulting Lender’s Swingline Exposure and LC Exposure of such Class does not exceed the total of all non-Defaulting Lenders’ Commitments of such Class, and (y) no non-Defaulting Lender’s
Revolving Credit Exposure of the applicable Class will exceed such Lender’s Commitment of such Class; 
 (ii) if the
reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, within three (3) Business Days following notice by
the Administrative Agent (x) first, prepay such Defaulting Lender’s Swingline Exposure and (y) second, cash collateralize such Defaulting Lender’s LC Exposure (after giving effect to any partial reallocation pursuant to
clause (i) above) in accordance with the procedures set forth in Section 2.05(l) for so long as such LC Exposure is outstanding; 

(iii) if the Borrower cash collateralizes any portion of such Defaulting Lender’s LC Exposure pursuant to clause
(ii) above, the Borrower shall not be required to pay any fees to such Defaulting Lender pursuant to Section 2.11(b) with respect to such Defaulting Lender’s LC Exposure during the period such Defaulting Lender’s LC Exposure is
cash collateralized; 
 (iv) if the LC Exposure of the non-Defaulting Lenders of the same Class as such Defaulting Lender is
reallocated pursuant to clause (i) above, then the fees payable to the Lenders pursuant to Section 2.11(a) and Section 2.11(b) shall be adjusted in accordance with such non-Defaulting Lenders’ Applicable Multicurrency Percentages
or Applicable Dollar Percentages, as applicable, in effect immediately after giving effect to such reallocation; and 
 (v)
if any Defaulting Lender’s LC Exposure is neither cash collateralized nor reallocated pursuant to this Section 2.18(c), then, without prejudice to any rights or remedies of any Issuing Bank or any Lender hereunder, all commitment fees that
otherwise would have been payable to such Defaulting Lender (solely with respect to the portion of such Defaulting Lender’s Commitment that was utilized by such LC Exposure) and letter of credit fees payable under Section 2.11(b) with
respect to such Defaulting Lender’s LC Exposure shall be payable to the applicable Issuing Bank until such LC Exposure is cash collateralized and/or reallocated; and 

  
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 (d) so long as any Lender is a Defaulting Lender, no Swingline Lenders of the same Class of
such Defaulting Lender shall be required to fund any Swingline Loan of such Class and no Issuing Bank of the same Class or such Defaulting Lender shall be required to issue, amend or increase any Letter of Credit of such Class, unless it is
satisfied that the related exposure will be 100% covered by the Commitments of the non-Defaulting Lenders of the applicable Class and/or cash collateral will be provided by the Borrower in accordance with Section 2.18(c), and Swingline Exposure
related to any newly made Swingline Loan and participating interests in any such newly issued or increased Letter of Credit shall be allocated among non-Defaulting Lenders of such Class in a manner consistent with Section 2.18(c)(i) (and
Defaulting Lenders shall not participate therein). 
 In the event that the Administrative Agent, the Borrower, the Swingline Lenders and
the Issuing Banks (with respect to the Swingline Lenders and the Issuing Banks, only to the extent that such Swingline Lender or Issuing Bank acts in such capacity under the same Class of Commitments held by a Defaulting Lender) each agrees in
writing that such Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then on the date of such agreement, such Lender shall no longer be deemed a Defaulting Lender, the Borrower shall no longer be
required to cash collateralize any portion of such Lender’s LC Exposure cash collateralized pursuant to Section 2.18(c)(ii) above and the Swingline Exposure and the LC Exposure of the Lenders of the affected Class shall be readjusted to
reflect the inclusion of such Lender’s Commitment of such Class and on such date such Lender shall purchase at par such of the Loans of the other Lenders of such Class (other than Swingline Loans) as the Administrative Agent shall determine may
be necessary in order for such Lender to hold such Loans in accordance with its Applicable Multicurrency Percentage or Applicable Dollar Percentage, as applicable, in effect immediately after giving effect to such agreement. 

No reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from
that Lender having become a Defaulting Lender, including any claim of a non-Defaulting Lender as a result of such non-Defaulting Lender’s increased exposure following such reallocation. 

SECTION 2.19. Mitigation Obligations; Replacement of Lenders. 

(a) Designation of a Different Lending Office. If any Lender requests compensation under Section 2.14, or if the Borrower is
required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.16, then such Lender shall use reasonable efforts to designate a different lending office for funding or
booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the reasonable judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts
payable pursuant to Section 2.14 or 2.16, as the case may be, in the future and (ii) would not subject such Lender to any cost or expense not required to be reimbursed by the Borrower and would not otherwise be disadvantageous to such
Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 

  
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 (b) Replacement of Lenders. If any Lender requests compensation under
Section 2.14, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.16, or if any Lender becomes a Defaulting Lender or is a
non-consenting Lender (as provided in Section 9.02(d)), then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance
with and subject to the restrictions contained in Section 9.04), all its interests, rights and obligations under this Agreement and the other Loan Documents to an assignee that shall assume such obligations (which assignee may be another
Lender, if a Lender accepts such assignment); provided that (i) the Borrower shall have received the prior written consent of the Administrative Agent (and, if a Revolving Commitment is being assigned, the Issuing Banks and the Swingline
Lender), which consent shall not unreasonably be withheld, conditioned or delayed, (ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and participations in LC Disbursements and Swingline
Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts then due and
payable), and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.14 or payments required to be made pursuant to Section 2.16, such assignment will result in a reduction in such
compensation or payments. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and
delegation cease to apply. 
 (c) Defaulting Lender. If any Lender shall fail to make any payment required to be made by it pursuant
to Section 2.05(e), 2.06(a), 2.17(d) or 9.03(c), then the Administrative Agent may, in its discretion and notwithstanding any contrary provision hereof, (i) apply any amounts thereafter received by the Administrative Agent for the account
of such Lender for the benefit of the Administrative Agent or the Issuing Banks to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid, and/or (ii) hold any such amounts in a
segregated account as cash collateral for, and application to, any future funding obligations of such Lender under such Sections; in the case of each of clauses (i) and (ii) above, in any order as determined by the Administrative Agent in
its discretion. 
 SECTION 2.20. Assignment and Reallocation of Existing Commitments and Existing Loans. 

(a) On the Effective Date, the Lenders, shall assign and transfer the Loans among themselves, in a manner acceptable to the Administrative
Agent, so that, after giving effect to all such assignments and transfers, the Loans of each Class are held ratably by the Lenders of such Class in accordance with the respective Commitments of such Class of such Lenders (immediately after giving
effect to this Agreement). Concurrently therewith, the Lenders of each Class shall be deemed to have assigned and transferred their participation interests in any outstanding Letters of Credit of such Class among themselves, in a manner acceptable
to the Administrative Agent, so that such interests are held ratably in accordance with the Commitments of such Class of such Lenders (immediately after giving effect to this Agreement). 

  
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 (b) Each of the Lenders hereby acknowledges and agrees that (i) no Lender nor the
Administrative Agent has made any representations or warranties or assumed any responsibility with respect to (A) any statements, warranties or representations made in or in connection with this Agreement or the execution, legality, validity,
enforceability, genuineness or sufficiency of this Agreement, the Existing Credit Agreement or any other Loan Document or (B) the financial condition of any Obligor or the performance by any Obligor of its obligations hereunder or under any
other Loan Document; (ii) it has received such information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement; (iii) it has made and continues to make its own credit decisions in taking
or not taking action under this Agreement, independently and without reliance upon the Administrative Agent or any other Lender; and (iv) no amounts shall be required to be paid to such Lender under Section 2.15 in connection with the
reallocation described in Section 2.20(a). 
 SECTION 2.21. Reallocation Following a Non-Extended Commitment Termination
Date. 
 (a) Reallocation of Participations and Loans. 

(i) Notwithstanding anything to the contrary herein, (a) in connection with the reduction or termination of any
Non-Extending Lender’s Commitments in accordance with Section 2.08(f) on any date prior to the Non-Extended Commitment Termination Date for such Non-Extending Lender, the Borrower shall be permitted to request a Dollar Loan be made
ratably among the Extending Lenders and Non-Extending Lenders for which the Non-Extended Commitment Termination Date shall not have occurred in accordance with the provisions of Sections 2.02, 2.03 and 2.17(c) in an amount up to
the amount by which such Non-Extending Lender’s Revolving Credit Exposure exceeds such Non-Extending Lender’s Commitments after giving effect to such Commitment reduction and (b) on any date following the Non-Extended Commitment
Termination Date for any Non-Extending Lender until the Extended Commitment Termination Date, the Borrower shall be permitted to request a Dollar Loan to be made ratably among the Extending Lenders and Non-Extending Lenders for which the
Non-Extended Commitment Termination Date shall not have occurred in accordance with Sections 2.02, 2.03 and 2.17(c) in an amount up to the Revolving Credit Exposure of each Non-Extending Lender for which the Non-Extended
Commitment Termination shall have occurred, in each case, so long as (x) the conditions set forth in Section 4.02 are satisfied (and, unless Borrower shall have otherwise notified the Administrative Agent at such time, Borrower
shall be deemed to have represented and warranted that such conditions are satisfied at such time), (y) such Borrowing does not cause (I) the aggregate Revolving Credit Exposure of any Extending Lender to exceed such Extending
Lender’s Commitment, (II) the aggregate Revolving Dollar Credit Exposure of all of the Dollar Lenders with Dollar Commitments then in effect to exceed the aggregate Dollar Commitments at such time or (III) the aggregate Revolving Multicurrency
Credit Exposure of all of the Multicurrency Lenders with Multicurrency Commitments then in effect to exceed the aggregate Multicurrency Commitments at such time and (z) the proceeds of any such Loan are applied solely to reduce the Revolving
Credit Exposure of the applicable Non-Extending Lender or Non-Extending Lenders, as applicable. 
 (ii) All or any part of
each Non-Extending Lender’s participation in Letters of Credit and Swingline Loans shall be reallocated on (A) any date on which the Commitment of such Non-Extending Lender is reduced or terminated pursuant to Section 2.08(f)
and (B) on the Non-Extended Commitment Termination Date for such Non-Extending Lender, 

  
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in each case, among the Extending Lenders and Non-Extending Lenders for which the Non-Extended Commitment Termination Date shall not have occurred in accordance with their respective Applicable
Dollar Percentages and Applicable Multicurrency Percentages after giving effect to the reduction of the aggregate Commitments, but only to the extent that (x) the conditions set forth in Section 4.02 are satisfied at the time of
such reallocation (and, unless Borrower shall have otherwise notified Administrative Agent at such time, Borrower shall be deemed to have represented and warranted that such conditions are satisfied at such time), and (y) such reallocation does
not cause (I) the aggregate Revolving Credit Exposure of any Extending Lender or Non-Extending Lender for which the Commitment Termination Date shall not have occurred to exceed such Lender’s Commitment, (II) the total Revolving Dollar
Credit Exposures of Dollar Lenders with Dollar Commitments then in effect to exceed the aggregate Dollar Commitments at such time, or (III) the total Revolving Multicurrency Credit Exposures of Multicurrency Lenders with Multicurrency Commitments
then in effect to exceed the aggregate Multicurrency Commitments at such time. 
 (b) Cash Collateral; Repayment of Swingline Loans.
If any Loan related to the reduction or termination of a Non-Extending Lender’s Commitment prior to the Non-Extended Commitment Termination Date described in clause (a)(i) above or any reallocation described in clause (a)(ii) above cannot, or
can only partially, be effected, the Borrower shall, not later than (i) with respect to any reduction or termination of a Non-Extending Lender’s Commitment pursuant to Section 2.08(f), the date of such Commitment reduction or
termination or, (ii) with respect to any reallocation of participations in Letters of Credit and Swingline Loans on the Non-Extended Commitment Termination Date for any Non-Extending Lender, on the Non-Extended Commitment Termination Date
applicable to such Non-Extending Lender, as the case may be, without prejudice to any right or remedy available to it hereunder or under law, (x) prepay Swingline Loans in an amount equal to the amount by which the participation obligations of
the Non-Extending Lenders for which the Non-Extended Commitment Termination Date shall have occurred which have not been reallocated to the Extending Lenders and Non-Extending Lenders for which the Non-Extended Commitment Termination Date shall not
have occurred pursuant to clause (a)(ii) above, (y) provide Cash Collateral in an amount equal to the amount by which the participation obligations of such Non-Extending Lenders in Letters of Credit have not been reallocated pursuant to
clause (a)(ii) above and/or (z) prepay any other Loans of a Non-Extending Lender for which the Non-Extended Commitment Termination Date shall have occurred in an amount equal to the amount by which the Revolving Credit Exposure of such
Non-Extending Lender after giving effect to any prepayment described in clause (a)(i)(z) above exceeds such Non-Extending Lender’s Commitment after giving effect to any reduction in such Non-Extending Lender’s Commitment, as
applicable. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES 

The Borrower represents and warrants to the Lenders that: 

SECTION 3.01. Organization; Powers. Each of the Borrower and its Significant Subsidiaries (a) is duly organized, validly
existing and in good standing under the laws of the jurisdiction of its organization, (b) has all requisite power and authority to carry on its business as now conducted and (c) is qualified to do business in, and is in good standing in,
every jurisdiction where such qualification is required, except where the failure to comply with clauses (a) through (c) would not reasonably be expected to result in a Material Adverse Effect. 

  
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 SECTION 3.02. Authorization; Enforceability. The Transactions are within the
Borrower’s corporate powers and have been duly authorized by all necessary corporate and, if required, by all necessary shareholder action. This Agreement has been duly executed and delivered by the Borrower and constitutes, and each of the
other Loan Documents when executed by each Obligor party thereto and delivered will constitute, a legal, valid and binding obligation of such Obligor, enforceable in accordance with its terms, except as such enforceability may be limited by
(a) bankruptcy, insolvency, reorganization, moratorium or similar laws of general applicability affecting the enforcement of creditors’ rights and (b) the application of general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law). 
 SECTION 3.03. Governmental Approvals; No Conflicts. The
Transactions (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except for (i) such as have been or will be obtained or made and are or will be in full force and
effect, and (ii) filings and recordings in respect of the Liens created pursuant to the Security Documents, (b) will not violate any applicable law or regulation or the charter, by-laws or other organizational documents of the Borrower or
any other Obligors, as applicable, or any order of any Governmental Authority, (c) will not violate or result in a default under any indenture, agreement or other instrument binding upon the Borrower or any other Obligor, as applicable, or
assets, or give rise to a right thereunder to require any payment to be made by any such Person, in each case, except as would not reasonably be expected to have a Material Adverse Effect, and (d) except for the Liens created pursuant to the
Security Documents, will not result in the creation or imposition of any Lien on any asset of the Borrower or any other Obligors. 

SECTION 3.04. Financial Condition; No Material Adverse Change. 

(a) Financial Statements. The financial statements most recently delivered to the Administrative Agent and the Lenders by the Borrower
pursuant to Section 5.01 present fairly, in all material respects, the consolidated financial position and results of operations and cash flows of the Borrower and its consolidated Subsidiaries as of such dates and for such periods in
accordance with GAAP applied on a consistent basis, subject to, in the case of interim statements, year-end audit adjustments and the absence of footnotes. 

(b) No Material Adverse Change. Since December 31, 2021, there has not been any event, development or circumstance that has had or
would reasonably be expected to have a Material Adverse Effect. 
 SECTION 3.05. Litigation. Except, in each case, as
disclosed to the Lenders and the Administrative Agent prior to the Effective Date, including as set forth in any report publicly filed with the SEC prior to the Effective Date, (i) there are no actions, suits, investigations or proceedings by
or before any arbitrator or Governmental Authority now pending against or, to the knowledge of any Financial Officer of the Borrower, threatened in writing against or affecting the 

  
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Borrower or any of its Subsidiaries as to which there is a reasonable possibility of an adverse determination and that, if adversely determined, would reasonably be expected, individually or in
the aggregate, to result in a Material Adverse Effect and (ii) there are no actions, suits, investigations or proceedings by or before any arbitrator or Governmental Authority now pending against or, to the knowledge of any Financial Officer of
the Borrower, threatened in writing against or affecting the Borrower or any of its Subsidiaries that directly involve this Agreement or the Transactions. 

SECTION 3.06. Compliance with Laws and Agreements. Each of the Borrower and its Subsidiaries is in compliance with all laws,
regulations and orders of any Governmental Authority applicable to it or its property and all indentures, agreements and other instruments binding upon it or its property, except where the failure to do so, individually or in the aggregate, would
not reasonably be expected to result in a Material Adverse Effect. None of the Obligors is subject to any contract or other arrangement, the performance of which by them would reasonably be expected to result in a Material Adverse Effect. 

SECTION 3.07. Sanctions and Anti-Corruption Laws. The Borrower has implemented and maintains in effect policies and procedures
designed to ensure compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and investment advisors with Anti-Corruption Laws and applicable Sanctions, and the Borrower, its Subsidiaries and their respective
employees, officers and directors and, to the knowledge of the Borrower, agents of the Borrower and its Subsidiaries, are in compliance in all material respects with Anti-Corruption Laws and applicable Sanctions. None of the Borrower or any
Subsidiary or any director, officer, manager or, to the knowledge of the Borrower, agent of the Borrower or any Subsidiary is a Sanctioned Person and none of the Borrower or any Subsidiary or any director, officer, manager or agent of the Borrower
or any Subsidiary is the subject of any Sanctions. 
 SECTION 3.08. Taxes. Each of the Borrower and its Subsidiaries has
timely filed or caused to be filed all material Tax returns and reports required to have been filed and has paid or caused to be paid all material Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith
by appropriate proceedings and for which such Person has set aside on its books adequate reserves or (b) to the extent that the failure to do so would not reasonably be expected to result in a Material Adverse Effect. 

SECTION 3.09. ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other
such ERISA Events for which liability is reasonably expected to occur, would reasonably be expected to result in a Material Adverse Effect. 

SECTION 3.10. Disclosure. None of the written reports, financial statements, certificates or other written information (other
than projections, other forward looking information, information of a general economic or industry specific nature or information relating to third parties) furnished by or on behalf of the Borrower to the Lenders in connection with the negotiation
of this Agreement and the other Loan Documents or delivered hereunder or thereunder (as modified or supplemented by other information so furnished) when taken as a whole contains any material misstatement of fact or omits to state any material fact
necessary to make the statements therein, in the light of the circumstances under which they were made, not materially misleading at the time made; provided that, with respect to projected financial information, other forward

  
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looking information relating to third parties and information of a general economic or general industry nature, the Borrower represents only that such information was prepared in good faith based
upon assumptions believed to be reasonable at the time of the preparation thereof (it being understood that projections are subject to significant and inherent uncertainties and contingencies which may be outside of the Borrower’s control and
that no assurance can be given that projections will be realized, and are therefore not to be viewed as fact, and that actual results for the periods covered by projections may differ from the projected results set forth in such projections and that
such differences may be material). 
 SECTION 3.11. Investment Company Act; Margin Regulations. 

(a) Status as Business Development Company. The Borrower is a “closed-end fund” that has elected to be regulated as a
“business development company” within the meaning of the Investment Company Act and qualifies as a RIC. 
 (b) Compliance with
Investment Company Act. The business and other activities of the Borrower and its Subsidiaries, including the making of the Loans hereunder, the application of the proceeds and repayment thereof by the Borrower and the consummation of the
Transactions contemplated by the Loan Documents do not result in a violation or breach in any material respect of the applicable provisions of the Investment Company Act or any rules, regulations or orders issued by the SEC thereunder, in each case,
that are applicable to the Borrower and its Subsidiaries. 
 (c) Investment Policies. The Borrower is in compliance with all written
investment policies, restrictions and limitations for the Borrower delivered (to the extent not otherwise publicly filed with the SEC) to the Lenders prior to the Original Effective Date (as such investment policies have been amended, modified or
supplemented in a manner not prohibited by Section 7.01(r), the “Investment Policies”), except to the extent that the failure to so comply would not reasonably be expected to result in a Material Adverse Effect. 

(d) Use of Credit. Neither the Borrower nor any of its Significant Subsidiaries is engaged principally, or as one of its important
activities, in the business of extending credit for the purpose, whether immediate, incidental or ultimate, of buying or carrying Margin Stock, and no part of the proceeds of any extension of credit hereunder will be used to buy or carry any Margin
Stock in violation of Regulation U. 
 SECTION 3.12. Material Agreements and Liens. 

(a) Material Agreements. Part A of Schedule II is a complete and correct list of each credit agreement, loan agreement,
indenture, note purchase agreement, guarantee, letter of credit or other arrangement providing for or otherwise relating to any Indebtedness for borrowed money of or any extension of credit (or commitment for any extension of credit) to, or
guarantee for borrowed money by, the Borrower or any other Obligor outstanding on the Effective Date (in each case, other than (x) Indebtedness hereunder or under any other Loan Document and (y) any such agreement or arrangement that is
solely between or among two (2) or more Obligors), and the aggregate principal or face amount outstanding or that is or may become outstanding under each such arrangement in each case as of the Effective Date is correctly described in
Part A of Schedule II. 

  
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 (b) Liens. Part B of Schedule II is a complete and correct list of each
Lien securing Indebtedness of any Person outstanding on the Effective Date (other than Indebtedness hereunder or under any other Loan Document) covering any property of the Borrower or any other Obligor, and the aggregate principal amount of such
Indebtedness secured (or that may be secured) by each such Lien and the property covered by each such Lien as of the Effective Date is correctly described in Part B of Schedule II. 

SECTION 3.13. Subsidiaries and Investments. 

(a) Subsidiaries. Set forth in Part A of Schedule IV is a complete and correct list of all of the Subsidiaries of the Borrower on
the Effective Date together with, for each such Subsidiary, (i) the jurisdiction of organization of such Subsidiary, (ii) each Person holding ownership interests in such Subsidiary, (iii) the nature of the ownership interests held by
each such Person and the percentage of ownership of such Subsidiary represented by such ownership interests and (iv) whether such Subsidiary is a Designated Subsidiary or an Excluded Asset (other than a Designated Subsidiary). Except as
disclosed in Part A of Schedule IV, as of the Effective Date, (x) the Borrower owns, free and clear of Liens (other than any lien permitted by Section 6.02 hereof), and has the unencumbered right to vote, all outstanding ownership
interests in each Subsidiary shown to be held by it in Part A of Schedule IV, (y) all of the issued and outstanding capital stock of each such Subsidiary organized as a corporation is validly issued, fully paid and nonassessable (to the
extent such concepts are applicable) and (z) there are no outstanding Equity Interests with respect to such Subsidiary. Each Subsidiary identified on said Part A of Schedule IV as a “Designated Subsidiary” qualifies as such under
the definition of “Designated Subsidiary” set forth in Section 1.01. 
 (b) Investments. Set forth in Part B of
Schedule IV is a complete and correct list of all Investments (other than Investments of the types referred to in clauses (a), (c) and (d) of Section 6.04) held by any of the Obligors in any Person on the Effective Date and, for
each such Investment, (x) the identity of the Person or Persons holding such Investment and (y) the nature of such Investment. Except as disclosed in Part B of Schedule IV, each of the Borrower and such other Obligors owns, free and
clear of all Liens (other than Permitted Liens or Liens created pursuant to the Security Documents), all such Investments. 
 SECTION
3.14. Properties. 
 (a) Title Generally. Each of the Borrower and the other Obligors has good title to, or valid
leasehold interests in, all its real and personal property material to its business, taken as a whole, except for minor defects in title that do not interfere with its ability to conduct its business, taken as a whole, as currently conducted or to
utilize such properties for their intended purposes, except where failure to have title or leasehold interests would not reasonably be expected to have a Material Adverse Effect. 

(b) Intellectual Property. Each of the Borrower and the other Obligors owns, or is licensed to use, all trademarks, tradenames,
copyrights, patents and other intellectual property material to its business, taken as a whole, the use thereof by the Borrower and such other Obligor does not infringe upon the rights of any other Person, except for any such infringements that,
individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect. 

  
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 SECTION 3.15. Affiliate Agreement. As of the Effective Date, the Borrower has
heretofore delivered (to the extent not otherwise publicly filed with the SEC) to each of the Lenders true and complete copies of the Affiliate Agreement as in effect as of the Effective Date (including any amendments, supplements or waivers
executed and delivered thereunder and any schedules and exhibits thereto). As of the Effective Date, the Affiliate Agreement is in full force and effect. 

SECTION 3.16. Security Documents. The provisions of the Security Documents are effective to create in favor of the Collateral
Agent for the benefit of the Secured Parties a legal, valid and enforceable first priority Lien (subject to Liens permitted by Section 6.02) on all right, title and interest of the respective Obligors in the Collateral described therein to
secure the Secured Obligations, except for any failure that would not constitute an Event of Default under Section 7.01(p). Except for (a) filings completed on or prior to the Effective Date and as contemplated hereby and by the Security
Documents, and (b) the taking of possession or control by the Collateral Agent of the Collateral with respect to which a security interest may be perfected by possession or control, no filing or other action will be necessary to perfect such
Liens to the extent required thereunder, except for the failure to make any filing or action that would not constitute an Event of Default under Section 7.01(p). 

SECTION 3.17. Affected Financial Institutions. No Obligor is an Affected Financial Institution. 

ARTICLE IV 

CONDITIONS 

SECTION 4.01. Effective Date. This Agreement shall become effective on the date on which the following conditions precedent have
been satisfied (or such condition shall have been waived in accordance with Section 9.02): 
 (a) Documents. The Administrative
Agent shall have received each of the following documents, each of which shall be reasonably satisfactory to the Administrative Agent (and to the extent specified below, to each Lender) in form and substance: 

(i) Executed Counterparts. From each of the parties hereto, either (i) a counterpart of this Agreement signed on
behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy or electronic transmission of a signed signature page to this Agreement) that such party has signed a counterpart of this
Agreement. 
 (ii) Guarantee and Security Agreement. The Guarantee and Security Agreement, duly executed by each of
the parties thereto. 
 (iii) Opinion of Counsel to the Obligors. A customary favorable written opinion (addressed to
the Administrative Agent and the Lenders and dated the Effective Date) of Dechert LLP, New York counsel for the Obligors. 

  
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 (iv) Corporate Documents. Such documents and certificates as the
Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of the Obligors, the authorization of the Transactions and any other legal matters relating to the Obligors, this Agreement or the
Transactions. 
 (v) Officer’s Certificate. A certificate, dated the Effective Date and signed by the President,
a Vice President, the Chief Executive Officer or a Financial Officer of the Borrower, confirming compliance with the conditions set forth in the lettered clauses of the first sentence of Section 4.02. 

(vi) Borrowing Base Certificate. A Borrowing Base Certificate as of a date not more than five (5) days prior to the
Effective Date and giving pro forma effect to the Transactions. 
 (b) Fees and Expenses. The Administrative Agent shall have
received evidence of the payment by the Borrower of all fees due and payable to the Lenders on the Effective Date that the Borrower has agreed to pay in connection with this Agreement. The Borrower shall have paid all reasonable expenses (including
the legal fees of Mayer Brown LLP) for which invoices have been presented prior to the Effective Date that the Borrower has agreed to pay in connection with this Agreement. 

(c) Liens. Results of a recent lien search in each relevant jurisdiction with respect to each Obligor and such search shall reveal no
liens on any of the assets of any Obligor except for liens permitted under Section 6.02 or liens to be discharged on or prior to the Effective Date pursuant to documentation reasonably satisfactory to the Administrative Agent. 

(d) Know Your Customer Documentation. The Administrative Agent and the Lenders shall have received, at least two (2) Business Days
prior to the Effective Date (i) upon the reasonable request of the Lenders at least ten (10) Business Days prior to the Effective Date, documentation and other information required by bank regulatory authorities under applicable “know
your customer” and anti-money laundering rules and regulations, including the USA Patriot Act and (ii) to the extent that the Borrower qualifies as a “legal entity customer” under the requirements of the Beneficial Ownership
Regulation, a Beneficial Ownership Certification in relation to the Borrower. 
 (e) Valuation Policy. A copy of the Valuation
Policy. 
 (f) Other Documents. Such other documents as the Administrative Agent or any Lender or special New York counsel to
Truist Bank may reasonably request. 
 The Administrative Agent shall notify the Borrower and the Lenders of the Effective Date, and such notice shall be
conclusive and binding. 

  
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 SECTION 4.02. Each Credit Event. The obligation of each Lender to make any
Loan, and of each Issuing Bank to issue, amend, renew or extend any Letter of Credit, is additionally subject to the satisfaction of the following conditions: 

(a) (i) in the case of a Loan made to pay the purchase price and related fees and expenses in respect of a Specified Purchase, the Specified
Representations (immediately after giving effect to such merger, consolidation or acquisition) and the Specified Purchase Agreement Representations (immediately prior to giving effect to such merger, consolidation or acquisition) shall be true and
correct in all material respects on and as of the date of such Loan, or (ii) in the case of any other Loan or issuance, amendment, renewal or extension of any Letter of Credit, the representations and warranties of the Borrower set forth in
this Agreement and in the other Loan Documents shall be true and correct in all material respects (or, in the case of any portion of the representations and warranties already subject to a materiality qualifier, true and correct in all respects) on
and as of the date of such Loan or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable, or, as to any such representation or warranty that refers to a specific date, as of such specific date; 

(b) in the case of any Loan or issuance, amendment, renewal or extension of any Letter of Credit, at the time of and immediately after giving
effect to such Loan or the issuance, amendment, renewal or extension of such Letter of Credit, as applicable, no Specified Default or Event of Default shall have occurred and be continuing; 

(c) the aggregate Covered Debt Amount (immediately after giving effect to such extension of credit and any Concurrent Transaction) shall not
exceed the Borrowing Base (immediately after giving effect to such extension of credit and any Concurrent Transaction), which shall be evidenced by a Borrowing Base Certificate (that, so long as it is still current, may be the Borrowing Base
Certificate most recently delivered to the Administrative Agent); and 
 (d) the Administrative Agent shall have received a request for the
Borrowing or the issuance, amendment, renewal or extension of such Letter of Credit as required by Section 2.03, 2.04 or 2.05(b), as applicable. 

Each Borrowing (but not a continuation or conversion thereof) and each issuance, renewal or extension of a Letter of Credit shall be deemed to constitute a
representation and warranty by the Borrower on the date thereof as to the matters specified in the preceding sentence. 
 ARTICLE V

 AFFIRMATIVE COVENANTS 

Until the Facility Termination Date, the Borrower covenants and agrees with the Administrative Agent and the Lenders that: 

SECTION 5.01. Financial Statements and Other Information. The Borrower will furnish to the Administrative Agent for distribution
to each Lender: 
 (a) within ninety (90) days after the end of each fiscal year of the Borrower (or such longer period permitted
pursuant to any orders, declarations, laws, regulations or letters issued by the SEC or any other government or regulatory authority, not to exceed one hundred twenty (120) days after the end of each fiscal year of the Borrower), commencing
with the fiscal year ending December 31, 2022, the audited consolidated statements of assets and liabilities, statements of operations, changes in net assets, cash flows and schedule of investments of the Borrower and its consolidated
Subsidiaries as of the end of and for such year, setting forth in each case in 

  
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comparative form the figures for the previous fiscal year, all reported on by KPMG LLP or any other independent public accountants of recognized national standing to the effect that such
consolidated financial statements present fairly in all material respects the financial condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently (except as
disclosed therein) applied; 
 (b) within forty-five (45) days after the end of each of the first three (3) fiscal quarters of
each fiscal year of the Borrower (or such longer period permitted pursuant to any orders, declarations, laws, regulations or letters issued by the SEC or any other government or regulatory authority, not to exceed seventy-five (75) days after
the end of each of the first three (3) fiscal quarters of each fiscal year of the Borrower), the consolidated statements of assets and liabilities, statements of operations, changes in net assets, cash flows and schedule of investments of the
Borrower and its consolidated Subsidiaries as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for (or, in the case of the balance sheet, as of the
end of) the corresponding period or periods of the previous fiscal year, all certified by a Financial Officer of the Borrower as presenting fairly in all material respects the financial condition and results of operations of the Borrower and its
consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently (except as disclosed therein) applied, subject to normal year-end audit adjustments, the absence of footnotes and as otherwise described therein; 

(c) concurrently with any delivery of financial statements under clause (a) or (b) of this Section 5.01, a certificate of a
Financial Officer of the Borrower (i) certifying as to whether the Borrower has knowledge that a Default has occurred and is continuing, specifying the details thereof and any action which the Borrower has taken or proposed to be taken with
respect thereto, (ii) setting forth reasonably detailed calculations demonstrating compliance with Sections 6.01(b), 6.01(i), 6.01(l), 6.01(m), 6.01(n), 6.02(d), 6.02(e), 6.03(c), 6.03(d), 6.03(e), 6.03(h), 6.03(i), 6.04(d), 6.04(j),
6.05(b), 6.05(d), 6.05(e), 6.05(f), 6.07 and 6.12(c) or, if not in compliance, specifying the details thereof and any action taken or proposed to be taken with respect thereto, and (iii) to the extent not previously disclosed on a Form 10-K or
Form 10-Q previously filed with the SEC, stating whether any change in GAAP as applied by (or in the application of GAAP by) the Borrower has occurred since the Effective Date (but only if the Borrower has not previously reported such change to the
Administrative Agent and if such change has had a material effect on the financial statements) and, if any such change has occurred, specifying the effect (unless such effect has been previously reported) as determined by the Borrower of such change
on the financial statements accompanying such certificate; 
 (d) as soon as available and in any event not later than the last Business Day
of the calendar month following each monthly accounting period (ending on the last day of each calendar month) of the Borrower, a Borrowing Base Certificate as at the last day of such accounting period presenting (i) the Borrower’s
computation (and including the rationale for any industry reclassification) of the Borrowing Base, (ii) [reserved], (iii) (A) the quantity sold of any Portfolio Investment previously included in the Borrowing Base in such accounting
period, (B) the value assigned to each such Portfolio Investment as of the prior accounting period, (C) the weighted average sale price of each such Portfolio Investment sold and (D) the variance between (B) and (C) and
(iv) the aggregate amount of all accrued paid-in-kind interest and all paid-in-kind interest collected, in each case, during such accounting period on Portfolio Investments included in the Borrowing Base; 

  
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 (e) promptly but no later than five (5) Business Days after any Financial Officer of
the Borrower shall at any time have knowledge that there is a Borrowing Base Deficiency, a Borrowing Base Certificate as at the date the Borrower has knowledge of such Borrowing Base Deficiency indicating the amount of such Borrowing Base Deficiency
as at the date the Borrower obtained knowledge of such deficiency and the amount of such Borrowing Base Deficiency as of the date not earlier than one (1) Business Days prior to the date the Borrowing Base Certificate is delivered pursuant to
this paragraph; 
 (f) promptly upon receipt thereof, copies of all significant written reports submitted to management or the board of
directors of the Borrower by the Borrower’s independent public accountants in connection with each annual, interim or special audit or review of any type of the financial statements or related internal control systems of the Borrower or any of
its Significant Subsidiaries delivered by such accountants to the management or board of directors of the Borrower (other than the periodic reports that the Borrower’s independent auditors provide, in the ordinary course, to the audit committee
of the Borrower’s board of directors); 
 (g) promptly after (and only if) the same become publicly available, copies of all periodic
and other reports, proxy statements and other materials sent to all stockholders or filed by any of the Obligors with the SEC, or any Governmental Authority succeeding to any or all of the functions of the SEC, or with any national securities
exchange, as the case may be; and 
 (h) promptly following any request therefor, such other information regarding the operations, business
affairs and financial condition of the Borrower or any of its Subsidiaries, or compliance by the Borrower and the Obligors with the terms of this Agreement and the other Loan Documents, or for purposes of compliance with applicable “know your
customer” and anti-money laundering rules and regulations, including the USA Patriot Act and the Beneficial Ownership Regulation (to the extent applicable), as the Administrative Agent or any Lender (acting through the Administrative Agent) may
reasonably request. 
 Notwithstanding anything in this Section 5.01 to the contrary, the Borrower shall be deemed to have satisfied the requirements
of this Section 5.01 (other than Sections 5.01(c), (d), (e) and (h)) if the reports, documents and other information of the type otherwise so required thereby are publicly available when filed on EDGAR at the www.sec.gov website or
any successor service provided by the SEC. 
 SECTION 5.02. Notices of Material Events. Promptly upon a responsible officer of
the Borrower obtaining actual knowledge thereof, the Borrower will furnish to the Administrative Agent for distribution to each Lender written notice of the following: 

(a) the occurrence of any Default (unless the Borrower first became aware of such Default from a notice delivered by the Administrative Agent);
provided that if such Default is subsequently cured within the time periods set forth herein, the failure to provide notice of such Default shall not itself result in an Event of Default hereunder; 

  
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 (b) the filing or commencement of any action, suit or proceeding by or before any arbitrator
or Governmental Authority against the Borrower or any of its Significant Subsidiaries that has a reasonable likelihood of being adversely determined and which, if adversely determined, would reasonably be expected to result in a Material Adverse
Effect; 
 (c) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, would reasonably be
expected to result in a Material Adverse Effect; and 
 (d) any other development (excluding matters of a general economic, financial or
political nature to the extent that they would not reasonably be expected to have a disproportionate effect on the Borrower) that has resulted in, or would be likely to result in, a Material Adverse Effect. 

Each notice delivered under this Section 5.02 shall be accompanied by a statement of a Financial Officer or other executive officer of the Borrower
setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 

SECTION 5.03. Existence; Conduct of Business. The Borrower will, and will cause each of its Subsidiaries (other than Immaterial
Subsidiaries) to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises material to the conduct of the business of the
Borrower and its Subsidiaries, taken as a whole; provided that the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution not prohibited under Section 6.03. 

SECTION 5.04. Payment of Obligations. The Borrower will, and will cause each of its Subsidiaries (other than Immaterial
Subsidiaries) to, pay its obligations, including Tax liabilities and material contractual obligations before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith by
appropriate proceedings, (b) the Borrower or such Subsidiary (other than Immaterial Subsidiaries) has set aside on its books adequate reserves with respect thereto in accordance with GAAP and (c) the failure to make payment pending such
contest would not reasonably be expected to result in a Material Adverse Effect. 
 SECTION 5.05. Maintenance of Properties;
Insurance. The Borrower will, and will cause each of its Subsidiaries (other than Immaterial Subsidiaries) to, (a) keep and maintain all property material to the conduct of the business of the Borrower and its Subsidiaries, taken as a
whole, in good working order and condition, ordinary wear and tear excepted, except where failure to keep or maintain would not reasonably be expected to result in a Material Adverse Effect; provided that the foregoing shall not prohibit any
merger, consolidation, liquidation or dissolution not prohibited under Section 6.03, and (b) maintain, with financially sound and reputable insurance companies, insurance in such amounts and against such risks as are customarily maintained
by companies engaged in the same or similar businesses. 

  
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 SECTION 5.06. Books and Records; Inspection
Rights. The Borrower will, and will cause each of its Subsidiaries (other than Immaterial Subsidiaries) to, keep books of record and account in accordance with GAAP in all material respects. The Borrower will, and will cause each
other Obligor to, permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice to the Borrower, to visit and inspect its properties during normal business hours, to examine and make copies of its
books and records (including books and records maintained by it in its capacity as a “servicer” in respect of any Designated Subsidiary or other Excluded Assets, or in a similar capacity with respect to any other Designated Subsidiary, but
only to the extent the Borrower is not prohibited from disclosing such information or providing access to such information, and any books, records and documents held by the Custodian), and to discuss its affairs, finances and condition with its
officers and independent accountants, all at such reasonable times and as often as reasonably requested, in each case, to the extent such inspection or requests for such information are reasonable and such information can be provided or discussed
without violation of law, rule, regulation or any contract such Obligor entered into with a third party that is not an Affiliate; provided that the Borrower shall be entitled to have its representatives and advisors present during any
inspection of its books and records and during any discussion with its independent accountants or independent auditors; provided further that the Borrower shall not be responsible for the costs and expenses of the Administrative Agent and the
Lenders for more than one (1) visit and inspection in any calendar year under this Section 5.06 and Section 7.01(b) of the Guarantee and Security Agreement unless an Event of Default shall have occurred and be continuing. 

SECTION 5.07. Compliance with Laws; Anti-Corruption; Sanctions. The Borrower will, and will cause each of its Subsidiaries to,
comply with all laws, rules, regulations, including the Investment Company Act, any applicable rules, regulations or orders issued by the SEC thereunder (in each case, if applicable to such Person) and orders of any other Governmental Authority
applicable to it or its property, except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect. The Borrower will maintain in effect and enforce policies and procedures
designed to ensure compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions in all material respects. 

SECTION 5.08. Certain Obligations Respecting Subsidiaries; Further Assurances. 

(a) Subsidiary Guarantors. In the event that (1) any Obligor shall form or acquire any new Domestic Subsidiary (other than an
Excluded Asset or Immaterial Subsidiary) or (2) any Excluded Asset or Immaterial Subsidiary that is a Domestic Subsidiary shall no longer constitute an “Excluded Asset” or “Immaterial Subsidiary”, as applicable, pursuant to
the definition thereof (in which case such Person shall be deemed to be a “new” Domestic Subsidiary for purposes of this Section 5.08 as of such date), the Borrower will cause, within thirty (30) days (or such longer period as
shall be reasonably agreed by the Administrative Agent) following such Person becoming a new Domestic Subsidiary, such new Domestic Subsidiary to become a “Subsidiary Guarantor” (and, thereby, an “Obligor”) under a Guarantee
Assumption Agreement and to deliver such proof of corporate or other action, incumbency of officers, opinions of counsel (unless otherwise agreed by the Administrative Agent) and other documents as is consistent with those delivered by the Borrower
pursuant to Section 4.01 upon the Effective Date or as the Administrative Agent shall have reasonably requested. For the avoidance of doubt, the Borrower may elect to cause any of its Excluded Assets or Immaterial Subsidiaries to become an
Obligor by causing such Person to become a Subsidiary Guarantor and executing and delivering a Guarantee Assumption Agreement and other deliverables as required for a Subsidiary Guarantor under this Section 5.08(a) (at which point such Person
shall be a Subsidiary Guarantor and shall no longer be an Excluded Asset or an Immaterial Subsidiary). 

  
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 (b) Ownership of Subsidiaries. The Borrower will, and will cause each of its
Significant Subsidiaries to, take such action from time to time as shall be necessary to ensure that each of its Significant Subsidiaries is a wholly owned Subsidiary (other than any Subsidiary that is an Excluded Asset); provided that the
foregoing shall not prohibit any transaction permitted under Section 6.03 or 6.04, so long as immediately after giving effect to such permitted transaction each of the remaining Significant Subsidiaries is a wholly owned Subsidiary. 

(c) Further Assurances. The Borrower will, and will cause each of the Subsidiary Guarantors to, take such action from time to time
(including filing appropriate Uniform Commercial Code financing statements and executing and delivering such assignments, security agreements and other instruments) as shall be reasonably requested by the Administrative Agent to effectuate the
purposes and objectives of this Agreement, including: 
 (i) to create, in favor of the Collateral Agent for the benefit of
the Lenders (and any affiliate thereof that is a party to any Hedging Agreement entered into with such Obligor) and the holders of any Shorter Term Secured Indebtedness or Other Secured Indebtedness, perfected security interests and Liens in the
Collateral; provided that any such security interest or Lien shall be subject to the relevant requirements of the Security Documents; provided further, that in the case of any Collateral consisting of voting stock of any Controlled
Foreign Corporation, such security interest shall be limited to 65% of the issued and outstanding voting stock of such Controlled Foreign Corporation, 

(ii) subject to Section 5.14 hereof and Sections 7.01 and 7.04 of the Guarantee and Security Agreement, to cause any
bank or securities intermediary (within the meaning of the Uniform Commercial Code) to enter into such arrangements with the Collateral Agent as shall be appropriate in order that the Collateral Agent has “control” over each deposit
account or securities account of the Obligors (other than any Excluded Account), and in that connection, the Borrower agrees to cause all cash and other proceeds of Portfolio Investments received by any Obligor to be promptly deposited into such an
account (or otherwise delivered to, or registered in the name of, the Collateral Agent) and, until such deposit, delivery or registration such cash and other proceeds shall be held in trust by the Borrower for the benefit of the Collateral Agent and
shall not be commingled with any other funds or property of such Obligor or of any Designated Subsidiary or other Person (including with any money or financial assets of any Obligor in its capacity as “servicer” for any such Designated
Subsidiary or any of its other Excluded Assets, or any money or financial assets of any Excluded Asset), 
 (iii) in the case
of any portfolio investment held by an Excluded Asset or an Immaterial Subsidiary, including any cash collection related thereto, ensure that such portfolio investment shall not be held in the account of any Obligor subject to a control agreement
among such Obligor, the Collateral Agent and the Custodian delivered in connection with this Agreement or any other Loan Document, 

  
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 (iv) in the case of any Portfolio Investment consisting of a Bank Loan that
does not constitute all of the credit extended to the underlying borrower under the relevant underlying loan documents and an Excluded Asset or an Immaterial Subsidiary holds any interest in the loans or other extensions of credit under such loan
documents, (x) cause such Excluded Asset or such Immaterial Subsidiary to be party to such underlying loan documents as a “lender” having a direct interest (or a participation not acquired from an Obligor) in such underlying loan
documents and the extensions of credit thereunder and (y) ensure that, subject to Section 5.08(c)(v) below, all amounts owing to such Obligor or Excluded Asset or Immaterial Subsidiary by the underlying borrower or other obligated party
are remitted by such borrower or obligated party (or the applicable administrative agents, collateral agents or equivalent Person) directly to separate accounts of such Obligor, such Excluded Asset, and such Immaterial Subsidiary, respectively, 

(v) in the event that any Obligor is acting as an agent or administrative agent (or analogous capacity) under any loan
documents with respect to any Bank Loan that does not constitute all of the credit extended to the underlying borrower under the relevant underlying loan documents, ensure that all funds held by such Obligor in such capacity as agent or
administrative agent are segregated from all other funds of such Obligor and are clearly identified as being held in an agency capacity and 

(vi) cause all credit or loan agreements, any notes and all assignment and assumption agreements relating to any Portfolio
Investment constituting part of the Collateral to be held by (x) the Collateral Agent or (y) a Custodian pursuant to the terms of the applicable Custodian Agreement, or pursuant to an appropriate intercreditor agreement, so long as such
Custodian has agreed to grant access to such loan and other documents to the Administrative Agent pursuant to an access or similar agreement between the Borrower and such Custodian in form and substance reasonably satisfactory to the Administrative
Agent; provided that the Borrower’s obligation to deliver underlying documentation may be satisfied by delivery of copies of such agreements. 

Notwithstanding anything to the contrary contained herein, (1) nothing contained herein shall prevent an Obligor from having a Participation Interest in
a portfolio investment held by an Excluded Asset and (2) if any instrument, promissory note, agreement, document or certificate held by the Custodian is destroyed or lost not as a result of any action of such Obligor, then any original of such
instrument, promissory note, agreement, document or certificate shall be deemed held by the Custodian for all purposes hereunder; provided that, when such Obligor has actual knowledge of any such destroyed or lost instrument, promissory note,
agreement, document or certificate, it shall use commercially reasonable efforts to obtain from the underlying borrower, and deliver to the Custodian, a replacement instrument, promissory note, agreement, document or certificate. 

SECTION 5.09. Use of Proceeds. The Borrower will use the proceeds of the Loans and the issuances of Letters of Credit only for
general corporate purposes of the Borrower and its Subsidiaries, including (a) purchasing shares of its common stock in connection with the redemption (or buyback) of its shares, (b) repaying outstanding Indebtedness not prohibited by the
Loan Documents, (c) paying fees and expenses paid or payable in connection with this Agreement and the other Loan Documents, (d) making other distributions, contributions and investments and

  
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(e) acquiring and funding (either directly or through one (1) or more Subsidiaries) of leveraged loans, mezzanine loans, high-yield securities, convertible securities, preferred stock,
common stock, Hedging Agreements, Credit Default Swaps and other Portfolio Investments; provided that neither the Administrative Agent nor any Lender shall have any responsibility as to the use of any of such proceeds. No part of the proceeds
of any Loan or Letter of Credit will be used in violation of Sanctions or any other applicable law or, directly or indirectly, for the purpose, whether immediate, incidental or ultimate, of buying or carrying any Margin Stock in violation of
Regulation U. Upon the request of any Lender, the Borrower shall furnish to such Lender a statement in conformity with the requirements of FR Form G-3 or FR Form U-1, as applicable, referred to in Regulation U. Without limiting the foregoing, no
Obligor will directly or indirectly, use the proceeds of the Loans (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any
Anti-Corruption Laws, (B) for the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, to the extent such activities, businesses or transaction
would be prohibited by Sanctions if conducted by a corporation incorporated in the United States, or (C) in any manner that would result in the violation of any Sanctions applicable to any party hereto. 

SECTION 5.10. Status of RIC and BDC. The Borrower shall at all times, subject to applicable grace periods set forth in the Code,
maintain its status as a RIC under the Code, and as a “business development company” under the Investment Company Act. 

SECTION 5.11. Investment and Valuation Policies. The Borrower shall promptly advise the Lenders and the Administrative Agent of
any material change in either its Investment Policies or Valuation Policy. 
 SECTION 5.12. Portfolio Valuation and
Diversification, Etc. 
 (a) Industry Classification Groups. For purposes of this Agreement, the Borrower, in its reasonable
determination, shall assign each Portfolio Investment to an Industry Classification Group. To the extent that the Borrower reasonably determines that any Portfolio Investment is not adequately correlated with the risks of other Portfolio Investments
in an Industry Classification Group, such Portfolio Investment may be assigned by the Borrower to an Industry Classification Group that is more closely correlated to such Portfolio Investment. In the absence of adequate correlation, the Borrower
shall be permitted, upon notice to the Administrative Agent for distribution to each Lender, to create up to three (3) additional industry classification groups for purposes of this Agreement. 

(b) Portfolio Valuation Etc. 

(i) Settlement Date Basis. For purposes of this Agreement, all determinations of whether an investment is to be
included as a Portfolio Investment shall be determined on a settlement-date basis (meaning that any investment that has been purchased will not be treated as a Portfolio Investment until such purchase has settled, and any Portfolio Investment which
has been sold will not be excluded as a Portfolio Investment until such sale has settled), provided that no such investment shall be included as a Portfolio Investment to the extent it has not been paid for in full. 

  
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 (ii) Determination of Values. The Borrower will conduct reviews of
the value to be assigned to each of its Portfolio Investments included in the Borrowing Base as follows: 
 (A) Quoted
Investments—External Review. With respect to Portfolio Investments (including Cash Equivalents) for which market quotations are readily available and that are traded in an active and orderly market as determined by the Borrower
(“Quoted Investments”), the Borrower shall value such Quoted Investments in accordance with its Valuation Policy and, solely with respect to Portfolio Investments included in the Borrowing Base, not less frequently than once each
calendar week, determine the market value of such Quoted Investments which shall, in each case, be determined in accordance with one (1) of the following methodologies (as selected by the Borrower): 

(w) in the case of public and 144A securities, the average of the bid prices as determined by at least two (2) Approved
Dealers selected by the Borrower, 
 (x) in the case of bank loans, the bid price as determined by at least one (1)
Approved Dealer or Approved Pricing Service selected by the Borrower, 
 (y) in the case of any Quoted Investment traded on
an exchange, the closing price for such Portfolio Investment most recently posted on such exchange, and 
 (z) in the case of
any other Quoted Investment, the fair market value thereof as determined by an Approved Pricing Service; and 
 (B)
Unquoted Investments—External Review. With respect to each Portfolio Investment for which market quotations are not readily available (each, an “Unquoted Investment”), as determined by the Borrower, the Borrower shall
value such Unquoted Investments quarterly in a manner consistent with its Valuation Policy and, solely with respect to Portfolio Investments in the Borrowing Base, request an Approved Third-Party Appraiser to assist the Advisor (so long as it has
the necessary delegated authority) or the board of directors of the Borrower (or the appropriate committee thereof with the necessary delegated authority) in determining the fair market value of such Unquoted Investments (1) with respect to
Unquoted Investments held for a full calendar year, as at the last day of two non-consecutive fiscal quarters each calendar year (or, with respect to the calendar year in which the Effective Date occurs, as at the last day of at least one fiscal
quarter in such calendar year) and (2) with respect to Unquoted Investments held for less than one full calendar year but more than one full calendar quarter, as at the last day of at least one fiscal quarter in such calendar year, in each
case, and with respect to each calendar year, as selected by the Borrower in its sole discretion (each, a “Testing Quarter”); provided that: 

(x) the Value of any such Unquoted Investment acquired during a Testing Quarter shall be deemed to be equal to the cost of such
Unquoted Investment until such time as the fair market value of such Unquoted Investment is determined in accordance with the foregoing provisions of this sub-clause (B) as at the last day of the next succeeding Testing Quarter in which
such Portfolio Investment is determined (which may be the first full Testing Quarter ending after the date such Unquoted Investment is acquired); 

  
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 (y) notwithstanding the foregoing clause (B) the Advisor (so long as it
has the necessary delegated authority) or the board of directors of the Borrower (or the appropriate committee thereof with the necessary delegated authority) may, without the assistance of an Approved Third-Party Appraiser, determine the Value of
an Unquoted Investment in a Testing Quarter for such Unquoted Investment so long as the aggregate Value thereof of all such Unquoted Investments so determined in reliance on this clause (y) does not at any time exceed 10% of the aggregate
Borrowing Base for any Testing Quarter, except that the Value of any Unquoted Investment that has been determined without the assistance of an Approved Third-Party Appraiser in reliance on this clause (y) as at the last day of any Testing
Quarter with respect to such Unquoted Investment shall be deemed to be zero as at the last day of the immediately succeeding Testing Quarter with respect to such Unquoted Investment (but effective upon the date upon which the Borrowing Base
Certificate for such last day is required to be delivered hereunder) if an Approved Third-Party Appraiser has not assisted the Advisor (so long as it has the necessary delegated authority) the board of directors of the Borrower (or the appropriate
committee thereof with the necessary delegated authority), as applicable, in determining the fair market value of such Unquoted Investments, as at such date; and 

(z) no Testing Quarter with respect to any Unquoted Investment (including any Testing Quarter for any Unquoted Investment
pursuant to which the Advisor (so long as it has the necessary delegated authority) or the board of directors of the Borrower (or the appropriate committee thereof with the necessary delegated authority) determined the value of such Unquoted
Investment in accordance with clause (y) above) shall end more than six months following the end of the immediately preceding Testing Quarter for such Portfolio Investment. 

(C) Internal Review. The Borrower shall conduct internal reviews of all Portfolio Investments included in the Borrowing
Base at least once each calendar week which shall take into account any events of which any Responsible Officer of the Borrower has knowledge that materially and adversely affect the aggregate value of the Portfolio Investments included in the
Borrowing Base (including the existence of any buyout right for any Portfolio Investment at a purchase price that is less than the value of any Portfolio Investment established under Sections 5.12(b)(ii)(A) or
(B) above). If the value of any Portfolio Investment as most recently determined by the Borrower pursuant to this Section 5.12(b)(ii)(C) is lower than the value of such Portfolio Investment as most recently determined
pursuant to Sections 5.12(b)(ii)(A) and (B), such lower value shall be deemed to be the “Value” of such Portfolio Investment for purposes hereof. 

  
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 (D) Failure to Determine Values. If the Borrower shall fail to
determine the value of any Portfolio Investment as at any date pursuant to the requirements (but subject to the exclusions) of the foregoing subclauses (A) through (C), the “Value” of such Portfolio Investment as at such date
shall be deemed to be zero (0) for purposes of the Borrowing Base until such time as the Value of such Portfolio Investment is otherwise determined or reviewed, as applicable, in accordance with this Agreement. 

(E) Scheduled Testing of Values. 

(1) For the second calendar month immediately following the end of each fiscal quarter (the last such fiscal quarter is
referred to herein as, the “Testing Period”), the Administrative Agent shall cause an Approved Third-Party Appraiser selected by the Administrative Agent to value such number of Unquoted Investments ((x) included in the Borrowing
Base as of the end of such Testing Period or at any time between the end of such Testing Period and the end of the immediately preceding Testing Period, in each case, unless such Portfolio Investment is no longer in the Collateral Pool pursuant to a
transaction permitted hereunder and (y) selected by the Administrative Agent) that collectively have an aggregate Value approximately equal to the Calculation Amount. The Administrative Agent agrees to notify the Borrower of the Unquoted
Investments selected by the Administrative Agent to be tested in each Testing Period. If there is a difference between the Borrower’s valuation and the Approved Third-Party Appraiser’s valuation of any Unquoted Investment, the Value of
such Unquoted Investment for Borrowing Base purposes shall be established as set forth in sub-clause (F) below. 

(2) For the avoidance of doubt, the valuation of any Approved Third-Party Appraiser selected by the Administrative Agent would
not be as of, or delivered at, the end of any fiscal quarter. Any such valuation would be as of the end of the second month immediately following any fiscal quarter and would be reflected in the Borrowing Base Certificate for such month
(provided that such Approved Third-Party Appraiser delivers such valuation at least seven Business Days before the 20th day after the end of the applicable monthly accounting period and, if
such valuation is delivered after such time, it shall be included in the Borrowing Base Certificate for the following monthly period and applied to the then applicable balance of the related Portfolio Investment). For illustrative purposes, if the
given fiscal quarter is the fourth quarter ending on December 31, 2021, then (A) the Administrative Agent would initiate the testing of Values (using the December 31, 2021 Values for purposes of determining the scope of the testing
under clause (E)(x) during the month of February with the anticipation of receiving the valuations from the applicable Approved Third-Party Appraiser(s) on or after February 28, 2022 and (B) (x) if such valuations were received
before the seventh Business Day before March 20, 2022, such valuations would be included in the March 20, 2022 Borrowing Base Certificate covering the month of February, or (y) if such valuations were received after such time, they
would be included in the April 20, 2022 Borrowing Base Certificate for the month of March. 
 For the avoidance of doubt, all
calculations of value pursuant to this Section 5.12(b)(ii)(E) shall be determined without application of the Advance Rates. 

  
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 (F) Supplemental Testing of Values. Notwithstanding the foregoing,
the Administrative Agent shall at any time have the right to request, in its reasonable discretion, any Unquoted Investment included in the Borrowing Base with a value determined pursuant to Section 5.12(b)(ii) (other than, so long as no
Event of Default exists, any Portfolio Investment included in the Borrowing Base tested pursuant to Section 5.12(b)(ii)(E) as of the most recent Testing Period) to be independently valued by an Approved Third-Party Appraiser selected by
the Administrative Agent. There shall be no limit on the number of such appraisals requested by the Administrative Agent in its reasonable discretion; provided that, (i) any appraisal shall be conducted in a manner that is not disruptive to the
Borrower’s business and (ii) the values determined by any appraisal shall be treated as confidential information by the Administrative Agent and the Lenders and shall be deemed to be “Information” hereunder and subject to
Section 9.13 hereof. The reasonable and documented out-of-pocket costs of any such valuation shall be at the expense of the Borrower; provided that, so long as no Event of Default has occurred and is continuing, the
Borrower’s obligations to reimburse valuation costs incurred by the Administrative Agent pursuant to this Section 5.12(b)(ii)(F) shall be limited to an aggregate annual amount equal to the greater of $100,000 and 0.05% of the
aggregate Commitments. The Administrative Agent shall notify the Borrower of its receipt of results from an Approved Third-Party Appraiser of any appraisal and provide a copy of the results and any related reports to the Borrower. If the difference
between the Borrower’s valuation pursuant to Section 5.12(b)(ii)(B) and the valuation of any Approved Third-Party Appraiser selected by the Administrative Agent pursuant to Section 5.12(b)(ii)(E) or (F) is
(1) less than 5% of the Borrower’s value thereof, then the Borrower’s valuation shall be used, (2) between 5% and 20% of the Borrower’s value thereof, then the valuation of such Portfolio Investment shall be the average of
the value determined by the Borrower and the value determined by the Approved Third-Party Appraiser retained by the Administrative Agent and (3) greater than 20% of the Borrower’s value thereof, then the Borrower and the Administrative
Agent shall select an additional Approved Third-Party Appraiser and the valuation of such Portfolio Investment shall be the average of the three valuations (with the average of the Administrative Agent’s Approved Third-Party Appraiser’s
valuation and the Borrower’s valuation to be used until the third valuation is obtained). For the avoidance of doubt, Portfolio Investments that are part of the Collateral but not included in the Borrowing Base as of the most recent Testing
Period shall not be subject to testing under this Section 5.12(b)(ii)(F); provided that this sentence shall not limit the rights of the Administrative Agent set forth in Section 9.03(a)(iii) to be reimbursed for costs and
expenses incurred by the Administrative Agent following the occurrence and during the continuance of an Event of Default. 

(iii) Generally Applicable Valuation Provisions. 

(A) Each Approved Third-Party Appraiser (whether selected by the Borrower or the Administrative Agent) shall apply a recognized
valuation methodology that is commonly accepted in the Borrower’s industry for valuing Portfolio Investments of the type being valued and held by the Obligors. Other procedures relating to the valuation will be reasonably agreed upon by the
Administrative Agent and the Borrower. 

  
 123 

 (B) Notwithstanding anything to the contrary contained herein, from the
Effective Date until the date when the first valuation report with respect to the applicable Portfolio Investment is required to be delivered under Section 5.12(b)(ii)(B) or (E), as applicable, the Value of any Portfolio
Investment included in the Borrowing Base shall be the Value as delivered to the Collateral Agent on or prior to the Effective Date. For the avoidance of doubt, subject to Section 5.12(b)(ii)(B) the value of any Portfolio Investments
determined in accordance with any provision of this Section 5.12 shall be the Value of such Portfolio Investment for purposes of this Agreement until a new Value for such Portfolio Investment is subsequently required to be determined in
good faith in accordance with this Section 5.12. 
 (C) The Administrative Agent and each Lender acknowledges
that it may be required to enter into a non-reliance letter, confidentiality agreement or similar agreement requested or required by a proposed appraiser to allow the Administrative Agent or such Lender to review any written valuation report.
Notwithstanding anything to the contrary contained herein, there shall be no requirement to disclose any portion of any report submitted by an Approved Third-Party Appraiser without such a non-reliance letter if such non-reliance letter is required
by such Approved Third-Party Appraiser as a condition to such disclosure. 
 (iv) For the avoidance of doubt, any Values
determined by the Independent Valuation Provider pursuant to Sections 5.12(b)(ii)(E) and (F) shall only be required to be used for purposes of calculating the Borrowing Base and shall not be required to be utilized for any
other purpose, including, without limitation, the delivery of financial statements or valuations required under ASC 820 or the Investment Company Act. 

(v) The Administrative Agent shall notify the Borrower of its receipt of the final results of any valuation performed by the
Independent Valuation Provider promptly upon its receipt thereof and shall promptly provide a copy of such results and the related report to the Borrower. 

(c) Investment Company Diversification Requirements. The Borrower will, and will cause its Subsidiaries (other than Subsidiaries that
are exempt from the Investment Company Act) at all times to comply in all material respects with the portfolio diversification and similar requirements set forth in the Investment Company Act applicable to business development companies. The
Borrower will at all times, subject to applicable grace or cure periods set forth in the Code, comply with the portfolio diversification and similar requirements set forth in the Code applicable to RICs, where applicable. 

(d) Participation Interests. The Value attributable to any Participation Interest shall be the Value determined with respect to the
underlying portfolio investment related to such Participation Interest in accordance with this Section 5.12, provided any participation interest that does not satisfy the definition of Participation Interest shall have a Value of zero
(0) for purposes of this Agreement. 

  
 124 

 SECTION 5.13. Calculation of Borrowing Base. For purposes of this Agreement,
the “Borrowing Base” shall be determined, as at any date of determination, as the sum of the products obtained by multiplying (x) the Value of each Portfolio Investment in the Collateral Pool to the extent the Borrower elects
to include such Portfolio Investment in the Borrowing Base (the aggregate Value of all such Portfolio Investments in this clause (x), the “Gross Eligible Borrowing Base”; provided that no Portfolio Investment will be deemed included
in the Gross Eligible Borrowing Base unless such Portfolio Investment is eligible for a non-zero Advance Rate without regard to the limitations set forth in Sections 5.13(a) through (h)) and (y) the applicable Advance Rate for such Portfolio
Investment, provided that: 
 (a) if, as of such date, the Relevant Asset Coverage Ratio is (i) greater than or equal to
2.00:1.00, the Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments included in the Gross Eligible Borrowing Base of all issuers in a consolidated group of corporations or other entities (collectively, a
“Consolidated Group”) in accordance with GAAP exceeding 6% of the aggregate Value of all Portfolio Investments in the Gross Eligible Borrowing Base, shall be 50% of the otherwise applicable Advance Rate; (ii) less than
2.00:1.00 and greater than or equal to 1.75:1.00, the Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments included in the Gross Eligible Borrowing Base of all issuers in a Consolidated Group in accordance with
GAAP exceeding 5% of the aggregate Value of all Portfolio Investments in the Gross Eligible Borrowing Base, shall be 50% of the otherwise applicable Advance Rate; or (iii) less than 1.75:1.00, the Advance Rate applicable to that portion of
the aggregate Value of the Portfolio Investments included in the Gross Eligible Borrowing Base of all issuers in a Consolidated Group in accordance with GAAP exceeding 4% of the aggregate Value of all Portfolio Investments in the Gross Eligible
Borrowing Base, shall be 50% of the otherwise applicable Advance Rate; 
 (b) if, as of such date, the Relevant Asset Coverage Ratio is
(i) greater than or equal to 2.00:1.00, the Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments included in the Gross Eligible Borrowing Base of all issuers in a Consolidated Group in accordance with GAAP
exceeding 12% of the aggregate Value of all Portfolio Investments in the Gross Eligible Borrowing Base, shall be 0%; (ii) less than 2.00:1.00 and greater than or equal to 1.75:1.00, the Advance Rate applicable to that portion of the
aggregate Value of the Portfolio Investments included in the Gross Eligible Borrowing Base of all issuers in a Consolidated Group in accordance with GAAP exceeding 10% of the aggregate Value of all Portfolio Investments in the Gross Eligible
Borrowing Base shall be 0% or (iii) less than 1.75:1.00, the Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments included in the Gross Eligible Borrowing Base of all issuers in a Consolidated Group in
accordance with GAAP exceeding 8% of the aggregate Value of all Portfolio Investments in the Gross Eligible Borrowing Base, shall be 0%; 

(c) if, as of such date, the Relevant Asset Coverage Ratio is (i) greater than or equal to 2.00:1.00, the Advance Rate applicable to that
portion of the aggregate Value of the Portfolio Investments included in the Gross Eligible Borrowing Base in any single Industry Classification Group that exceeds 25% of the aggregate Value of all Portfolio Investments in the Gross Eligible
Borrowing Base, shall be 0%, provided that, with respect to Portfolio Investments in a single Industry Classification Group from time to time designated by the Borrower to the Administrative Agent, such 25% figure shall be increased to
30%, (ii) less than 2.00:1.00 and greater than or equal to 1.75:1.00, the Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments included in the Gross Eligible Borrowing Base in any single Industry
Classification 

  
 125 

 
Group that exceeds 20% of the aggregate Value of all Portfolio Investments in the Gross Eligible Borrowing Base, shall be 0%, provided that, with respect to Portfolio Investments in a
single Industry Classification Group from time to time designated by the Borrower to the Administrative Agent, such 20% figure shall be increased to 25%, or (iii) less than 1.75:1.00, the Advance Rate applicable to that portion of the aggregate
Value of the Portfolio Investments included in the Gross Eligible Borrowing Base in any single Industry Classification Group that exceeds 20% of the aggregate Value of all Portfolio Investments in the Gross Eligible Borrowing Base, shall be 0%;

 (d) if, as of such date, the Relevant Asset Coverage Ratio is (i) greater than or equal to 2.00:1.00, the Advance Rate applicable to
that portion of the Borrowing Value of Non-Core Investments shall be 0% to the extent necessary so that no more than 20% of the Borrowing Base is attributable to such investments, (ii) less than 2.00:1.00 and greater than or equal to
1.75:1.00, the Advance Rate applicable to that portion of the Borrowing Value of Non-Core Investments shall be 0% to the extent necessary so that no more than 10% of the Borrowing Base is attributable to such investments or (iii) less than
1.75:1.00, the Advance Rate applicable to that portion of the Borrowing Value of Non-Core Investments shall be 0% to the extent necessary so that no more than 5% of the Borrowing Base is attributable to such investments; 

(e) if, as of such date, the Relevant Asset Coverage Ratio is (i) less than 2.00:1.00 and greater than or equal to 1.75:1.00, the Advance
Rate applicable to that portion of the Borrowing Value of Junior Investments and Non-Core Investments shall be 0% to the extent necessary so that no more than 30% of the Borrowing Base is attributable to such investments; or (ii) less than
1.75:1.00, the Advance Rate applicable to the portion of the Borrowing Value of Junior Investments and Non-Core Investments shall be 0% to the extent necessary so that no more than 20% of the Borrowing Base is attributable to such investments; 

(f) no Participation Interest may be included in the Borrowing Base for more than ninety (90) days; 

(g) the Advance Rate applicable to CLO Securities (or other investments that similarly represent an investment in underlying levered
portfolios), finance leases and investments in Excluded Assets shall be 0%; and 
 (h) if, as of such date, (i)(A) the Borrowing Base
(without giving effect to any adjustment required pursuant to this paragraph (h), the “Gross Borrowing Base”) is less than 1.5 times the Senior Debt Amount and (B) the Relevant Asset Coverage Ratio is less than 2.00:1.00
and greater than or equal to 1.75:1.00, then the Borrowing Base shall be reduced to the extent necessary such that the contribution of Senior Investments to the Borrowing Base may not be less than 60% of the Covered Debt Amount, (ii)(A) the Gross
Borrowing Base is less than 1.5 times the Senior Debt Amount and (B) the Relevant Asset Coverage Ratio is less than 1.75:1.00, then the Borrowing Base shall be reduced to the extent necessary such that the contribution of Senior Investments to
the Borrowing Base may not be less than 75% of the Covered Debt Amount or (iii)(A) the Gross Borrowing Base is greater than or equal to 1.5 times the Senior Debt Amount and (B) the Relevant Asset Coverage Ratio is less than 1.75:1.00, then the
Borrowing Base shall be reduced to the extent necessary such that the contribution of Senior Investments to the Borrowing Base may not be less than 25% of the Covered Debt Amount. 

  
 126 

 No Portfolio Investment may be included in the Borrowing Base until such time as such
Portfolio Investment has been Delivered (as defined in the Guarantee and Security Agreement) to the Collateral Agent, and then only for so long as such Portfolio Investment continues to be Delivered as contemplated therein; provided that,
notwithstanding the foregoing, in the case of any Portfolio Investment in which the Collateral Agent has a first-priority perfected security interest pursuant to a valid Uniform Commercial Code filing (and for which no other method of perfection
with a higher priority is possible), such Portfolio Investment may be included in the Borrowing Base so long as all remaining actions to complete “Delivery” are satisfied within the longest period of (i) seven (7) days of such
inclusion, (ii) as provided for herein or in the Guarantee and Security Agreement and (iii) such longer period as the Collateral Agent may agree in its reasonable discretion. Notwithstanding anything to the contrary contained herein or in
any other Loan Document, the failure to Deliver any Portfolio Investment or other Collateral shall not be a Default or Event of Default, except for any failure that would constitute an Event of Default under clause (p) of Article VII. Voting
stock of any Controlled Foreign Corporation in excess of 65% of the issued and outstanding voting stock of such Controlled Foreign Corporation shall not be included as a Portfolio Investment for purposes of calculating the Borrowing Base. 

The Borrower shall from time to time deliver a Borrowing Base Certificate to the Administrative Agent and each Lender as provided in
Sections 4.01(a)(vii), 4.02(c)(i), 5.01(d), 5.01(e) and 6.05(d). 
 For the avoidance of doubt, (a) to avoid double-counting of
excess concentrations, any Advance Rate reductions set forth under this Section 5.13 shall be without duplication of any other such Advance Rate reductions and (b) to the extent the Borrowing Base is required to be reduced to comply with
this Section 5.13, the Borrower shall be permitted to choose the Portfolio Investments to be excluded from the Borrowing Base to effect such reduction. 

As used herein, the following terms have the following meanings: 

“Advance Rate” means, as to any Portfolio Investment as of any date and subject to adjustment as provided in
Sections 5.13(a) through (h), as applicable, and as provided below based on the Relevant Asset Coverage Ratio as of such date, the following percentages with respect to such Portfolio Investment: 

 

																									
	 	  	Relevant Asset
Coverage Ratio ≥
2.00:1.00	 	  	2.00:1.00 > Relevant
Asset Coverage Ratio ≥
1.75:1.00	 	  	1.75:1.00 > Relevant
Asset Coverage Ratio ≥
1.50:1.00	 
	 Portfolio Investment (1)
	  	Quoted	 	 	Unquoted	 	  	Quoted	 	 	Unquoted	 	  	Quoted	 	 	Unquoted	 
	 Cash, Cash Equivalents and Short-Term U.S. Government Securities
	  	 	100	% 	 	 	n.a.	 	  	 	100	% 	 	 	n.a.	 	  	 	100	% 	 	 	n.a.	 
	 Long-Term U.S. Government Securities
	  	 	95	% 	 	 	n.a.	 	  	 	95	% 	 	 	n.a.	 	  	 	95	% 	 	 	n.a.	 

  
 127 

																									
	 	  	Relevant Asset
Coverage Ratio ≥
2.00:1.00	 	 	2.00:1.00 > Relevant
Asset Coverage Ratio ≥
1.75:1.00	 	 	1.75:1.00 > Relevant
Asset Coverage Ratio ≥
1.50:1.00	 
	 Portfolio Investment (1)
	  	Quoted	 	 	Unquoted	 	 	Quoted	 	 	Unquoted	 	 	Quoted	 	 	Unquoted	 
	 Performing First Lien Bank Loans
	  	 	85	% 	 	 	75	% 	 	 	85	% 	 	 	75	% 	 	 	85	% 	 	 	75	% 
	 Performing First Lien Unitranche Bank Loans
	  	 	85	% 	 	 	75	% 	 	 	80	% 	 	 	70	% 	 	 	75	% 	 	 	65	% 
	 Performing First Lien Last Out Bank Loans
	  	 	80	% 	 	 	70	% 	 	 	75	% 	 	 	65	% 	 	 	70	% 	 	 	60	% 
	 Performing Second Lien Bank Loans
	  	 	75	% 	 	 	65	% 	 	 	70	% 	 	 	60	% 	 	 	65	% 	 	 	55	% 
	 Performing Cash Pay High Yield Securities
	  	 	70	% 	 	 	60	% 	 	 	65	% 	 	 	55	% 	 	 	60	% 	 	 	50	% 
	 Performing Cash Pay Mezzanine Investments
	  	 	65	% 	 	 	55	% 	 	 	60	% 	 	 	50	% 	 	 	55	% 	 	 	45	% 
	 Performing Non-Cash Pay High Yield Securities
	  	 	60	% 	 	 	50	% 	 	 	55	% 	 	 	45	% 	 	 	50	% 	 	 	40	% 
	 Performing Non-Cash Pay Mezzanine Investments
	  	 	55	% 	 	 	45	% 	 	 	50	% 	 	 	40	% 	 	 	45	% 	 	 	35	% 
	 Performing Principal Finance Debt Assets
	  	 	55	% 	 	 	45	% 	 	 	50	% 	 	 	40	% 	 	 	45	% 	 	 	35	% 
	 Performing Principal Finance Preferred Equity Assets
	  	 	45	% 	 	 	35	% 	 	 	40	% 	 	 	30	% 	 	 	35	% 	 	 	25	% 
	 Performing DIP Loans
	  	 	40	% 	 	 	35	% 	 	 	35	% 	 	 	30	% 	 	 	30	% 	 	 	25	% 
	 Performing Common Equity Assets
	  	 	30	% 	 	 	20	% 	 	 	25	% 	 	 	20	% 	 	 	20	% 	 	 	20	% 
	 Performing Principal Finance Common Equity Assets
	  	 	30	% 	 	 	20	% 	 	 	25	% 	 	 	20	% 	 	 	20	% 	 	 	20	% 
	 Performing Preferred Equity
	  	 	55	% 	 	 	45	% 	 	 	50	% 	 	 	40	% 	 	 	45	% 	 	 	35	% 
	 Non-Performing First Lien Bank Loans
	  	 	45	% 	 	 	45	% 	 	 	40	% 	 	 	40	% 	 	 	35	% 	 	 	35	% 

  
 128 

																									
	 	  	Relevant Asset
Coverage Ratio ≥
2.00:1.00	 	 	2.00:1.00 > Relevant
Asset Coverage Ratio ≥
1.75:1.00	 	 	1.75:1.00 > Relevant
Asset Coverage Ratio ≥
1.50:1.00	 
	 Portfolio Investment (1)
	  	Quoted	 	 	Unquoted	 	 	Quoted	 	 	Unquoted	 	 	Quoted	 	 	Unquoted	 
	 Non-Performing First Lien Unitranche Loans
	  	 	45	% 	 	 	45	% 	 	 	40	% 	 	 	40	% 	 	 	35	% 	 	 	35	% 
	 Non-Performing First Lien Last Out Loans
	  	 	40	% 	 	 	40	% 	 	 	35	% 	 	 	35	% 	 	 	30	% 	 	 	30	% 
	 Non-Performing Second Lien Bank Loans
	  	 	40	% 	 	 	30	% 	 	 	35	% 	 	 	25	% 	 	 	30	% 	 	 	20	% 
	 Non-Performing High Yield Securities
	  	 	30	% 	 	 	30	% 	 	 	25	% 	 	 	25	% 	 	 	20	% 	 	 	20	% 
	 Non-Performing Mezzanine Investments
	  	 	30	% 	 	 	25	% 	 	 	25	% 	 	 	20	% 	 	 	20	% 	 	 	20	% 
	 Non-Performing Preferred Equity
	  	 	0	% 	 	 	0	% 	 	 	0	% 	 	 	0	% 	 	 	0	% 	 	 	0	% 
	 Non-Performing Common Equity
	  	 	0	% 	 	 	0	% 	 	 	0	% 	 	 	0	% 	 	 	0	% 	 	 	0	% 
	 Non-Performing Principal Finance Assets
	  	 	0	% 	 	 	0	% 	 	 	0	% 	 	 	0	% 	 	 	0	% 	 	 	0	% 

  

	(1)	 For the avoidance of doubt, the above categories are intended to be indicative of the traditional investment
types. All determinations of whether a particular Portfolio Investment belongs to one (1) category or another shall be made by the Borrower on a consistent basis with the definitions in Section 5.13. 

“Bank Loans” means debt obligations (including, without limitation, term loans, notes, revolving loans, debtor-in-possession
financings, the funded and unfunded portion of revolving credit lines and letter of credit facilities and other similar loans and investments including interim loans, bridge loans and senior subordinated loans) which are generally documented under a
loan or credit facility or pursuant to any loan agreement, note purchase agreement or other similar financing arrangement facility, whether or not syndicated. 

“Bankruptcy Code” means the United States Bankruptcy Code, 11 U.S.C. Section 101 et seq. 

“Cash” has the meaning assigned to such term in Section 1.01 of this Agreement. 

“Cash Equivalents” has the meaning assigned to such term in Section 1.01 of this Agreement. 

  
 129 

 “Cash Pay Bank Loans” means First Lien Bank Loans, First Lien Unitranche
Bank Loans, First Lien Last Out Bank Loans and Second Lien Bank Loans as to which, at the time of determination, not less than two-third (2/3rds) of the interest (including accretions and “pay-in-kind” interest) for the current period
is payable in cash at least semi-annually. 
 “Equity Interests” has the meaning assigned to such term in Section 1.01
of this Agreement. 
 “First Lien Bank Loan” means a Bank Loan that is entitled to the benefit of a first lien and first
priority perfected security interest (subject to any Permitted Prior Working Capital Lien, “ABL” revolvers and other customary encumbrances) on a substantial portion of the assets of the respective borrower and guarantors obligated in
respect thereof, provided that (x) any First Lien Bank Loan that is also a First Lien Unitranche Bank Loan shall be treated for purposes of determining the applicable Advance Rate as a First Lien Unitranche Bank Loan and (y) any
First Lien Bank Loan that is also a First Lien Last Out Bank Loan shall be treated for purposes of determining the applicable Advance Rate as a First Lien Last Out Bank Loan. For the avoidance of doubt, to the extent that, and only for so long as,
any Permitted Prior Working Capital Lien exceeds the amount permitted under clause (iii) of the definition thereof, an Obligor’s investment in such applicable Bank Loan shall be treated as a Second Lien Bank Loan for purposes of
determining the applicable Advance Rate for such Portfolio Investment under this Agreement. 
 “First Lien Last Out Bank
Loan” means a First Lien Bank Loan, a portion of which is, in effect, subject to debt subordination following an event of default and superpriority rights of other lenders (such portion, a “last out” portion); provided, that the
aggregate principal amount of the “last out” portion of such Bank Loan is at least 50% of the aggregate principal amount of any “first out” portion of such Bank Loan; provided, further that the underlying obligor with respect to
such Bank Loan shall have a ratio of first lien debt (including the “first out” portion of such Bank Loan, but excluding the “last out” portion of such Bank Loan, and, solely to the extent such amounts are netted from debt in the
debt to EBITDA calculation in the underlying documentation for such First Lien Bank Loan, net of any cash and cash equivalents) to EBITDA that does not exceed 3.25:1.00 and a ratio of aggregate first lien debt (including both the “first
out” portion and the “last out” portion of such Bank Loan, and, solely to the extent such amounts are netted from debt in the debt to EBITDA calculation in the underlying documentation for such First Lien Bank Loan, net of any cash
and cash equivalents) to EBITDA that does not exceed 5.25:1.00. An Obligor’s investment in the “last out” portion of a First Lien Last Out Bank Loan shall be treated as a First Lien Last Out Bank Loan for purposes of determining the
applicable Advance Rate for such Portfolio Investment under this Agreement. For the avoidance of doubt, an Obligor’s investment in the portion of such Bank Loan that is not the last out portion (the “first out” portion) shall be
treated as a First Lien Bank Loan for purposes of determining the applicable Advance Rate for such Portfolio Investment under this Agreement and whether such Portfolio Investment constitutes a “Senior Investment” under this Agreement, and
an Obligor’s investment in any “last out” portion of a First Lien Bank Loan that does not meet the foregoing criteria shall be treated as a Second Lien Bank Loan for purposes of determining the applicable Advance Rate for such
Portfolio Investment under this Agreement and whether such Portfolio Investment constitutes a “Senior Investment” under this Agreement. 

  
 130 

 “First Lien Unitranche Bank Loan” means a First Lien Bank Loan with a ratio
of first lien debt (net of any cash and cash equivalents solely to the extent such amounts are netted from debt in the debt to EBITDA calculation in the underlying documentation for such First Lien Bank Loan) to EBITDA that exceeds 5.25:1.00, and
where the underlying borrower does not also have a Second Lien Bank Loan outstanding. 
 “High Yield Securities” means debt
Securities (a) issued by public or private issuers, (b) issued pursuant to an effective registration statement or pursuant to Rule 144A under the Securities Act (or any successor provision thereunder) or other exemption to the Securities
Act and (c) that are not Cash Equivalents, Mezzanine Investments (described under clause (i) of the definition thereof) or Bank Loans. 

“Junior Investments” means any Performing Cash Pay High Yield Securities and Performing Cash Pay Mezzanine Investments. 

“Long-Term U.S. Government Securities” means U.S. Government Securities maturing more than one (1) month from the
applicable date of determination. 
 “Mezzanine Investments” means (i) debt Securities (including convertible debt
Securities (other than the “in-the-money” equity component thereof)) that are (a) issued by public or private issuers, (b) issued without registration under the Securities Act, (c) not issued pursuant to Rule 144A under the
Securities Act (or any successor provision thereunder) or other exemption to the Securities Act, (d) not Cash Equivalents and (e) contractually subordinated in right of payment to other debt of the same issuer and (ii) a Bank Loan
that is not a First Lien Bank Loan, First Lien Last Out Bank Loan, First Lien Unitranche Bank Loan, Second Lien Bank Loan or a High Yield Security. 

“Non-Core Investments” means, collectively, (a) Performing Common Equity, (b) Performing Preferred Equity,
(c) Non-Performing Bank Loans, (d) Non-Performing High Yield Securities, (e) Non-Performing Mezzanine Investments, (f) Performing Non-Cash Pay High Yield Securities, (g) Performing Non-Cash Pay Mezzanine Investments,
(h) Performing Principal Finance Assets and (i) Performing DIP Loans. 
 “Non-Performing Bank Loans” means,
collectively, Non-Performing First Lien Bank Loans, Non-Performing First Lien Last Out Bank Loans, Non-Performing First Lien Unitranche Bank Loans and Non-Performing Second Lien Bank Loans. 

“Non-Performing Common Equity” means Equity Interests (other than Preferred Equity) and warrants of an issuer having any debt
outstanding that is non-Performing. 
 “Non-Performing First Lien Bank Loans” means First Lien Bank Loans other than
Performing First Lien Bank Loans. 
 “Non-Performing First Lien Last Out Bank Loans” means First Lien Last Out Bank Loans
other than Performing First Lien Last Out Bank Loans. 
 “Non-Performing First Lien Unitranche Bank Loans” means First Lien
Unitranche Bank Loans other than Performing First Lien Unitranche Bank Loans. 

  
 131 

 “Non-Performing High Yield Securities” means High Yield Securities other
than Performing Cash Pay High Yield Securities and Performing Non-Cash Pay High Yield Securities. 
 “Non-Performing Mezzanine
Investments” means Mezzanine Investments other than Performing Cash Pay Mezzanine Investments and Performing Non-Cash Pay Mezzanine Investments. 

“Non-Performing Preferred Equity” means Preferred Equity other than Performing Preferred Equity. 

“Non-Performing Principal Finance Assets” means Principal Finance Assets other than Performing Principal Finance Assets. 

“Non-Performing Second Lien Bank Loans” means Second Lien Bank Loans other than Performing Second Lien Bank Loans. 

“Performing” means (a) with respect to any Portfolio Investment that is debt, the issuer of such Portfolio Investment is
not then in default of any payment obligations outstanding with respect to accrued and unpaid interest or principal in respect thereof, after the expiration of any applicable grace or cure period, (b) with respect to any Portfolio Investment
that is Preferred Equity, the issuer of such Portfolio Investment has not failed to meet any scheduled redemption obligations or to pay its latest declared cash dividend, after the expiration of any applicable grace or cure period, and (c) with
respect to any Portfolio Investment that is a Principal Finance Asset, (x) each tranche of such Portfolio Investment or other investment that, in each case, is senior to such Portfolio Investment, in the issuer of such Portfolio Investment
satisfies (to the extent applicable) the requirements of the immediately preceding clauses (a) and (b), and (y) to the extent applicable, the holders of such Portfolio Investment have received in cash all expected distributions of interest
and other payments thereon and cash flows in respect thereof are not currently subject to any deferral or diversion for the benefit of the holders of any tranche or other investments that rank senior to such Portfolio Investment pursuant to any
waterfall or similar structure. 
 “Performing Cash Pay High Yield Securities” means High Yield Securities (a) as to
which, at the time of determination, not less than two-thirds (2/3rds) of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semi-annual or annual period (as applicable) is payable in
cash and (b) which are Performing. 
 “Performing Cash Pay Mezzanine Investments” means Mezzanine Investments
(a) as to which, at the time of determination, not less than two-thirds (2/3rds) of the interest (including accretions and “pay-in-kind” interest) for the current monthly, quarterly, semi-annual or annual period (as applicable)
is payable in cash, and (b) which are Performing. 
 “Performing Common Equity” means Equity Interests (other than
Preferred Equity) and warrants of an issuer all of whose outstanding debt is Performing. 
 “Performing DIP Loans” means a
loan made to a debtor-in-possession pursuant to Section 364 of the Bankruptcy Code having the priority allowed by either Section 364(c) or 364(d) of the Bankruptcy Code that is Performing. 

  
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 “Performing First Lien Bank Loans” means First Lien Bank Loans (which are
not Performing DIP Loans) which are (a) Performing and (b) Cash Pay Bank Loans. 
 “Performing First Lien Last Out Bank
Loans” means First Lien Last Out Bank Loans which are (a) Performing and (b) Cash Pay Bank Loans. 
 “Performing
First Lien Unitranche Bank Loans” means First Lien Unitranche Bank Loans which are (a) Performing and (b) Cash Pay Bank Loans. 

“Performing Non-Cash Pay High Yield Securities” means High Yield Securities other than Performing Cash Pay High Yield
Securities that are Performing. 
 “Performing Non-Cash Pay Mezzanine Investments” means Mezzanine Investments other than
Performing Cash Pay Mezzanine Investments that are Performing. 
 “Performing Preferred Equity” means Preferred Equity that
is Performing. 
 “Performing Principal Finance Assets” means Principal Finance Assets which are Performing. 

“Performing Principal Finance Common Equity Assets” means Performing Principal Finance Assets which are Equity Interests
(other than Preferred Equity). 
 “Performing Principal Finance Debt Assets” means Performing Principal Finance Assets
which are debt Portfolio Investments. 
 “Performing Principal Finance Preferred Equity Assets” means Performing Principal
Finance Assets which are Preferred Equity. 
 “Performing Second Lien Bank Loans” means Second Lien Bank Loans (which are
not Performing DIP Loans) which are (a) Performing and (b) Cash Pay Bank Loans. 
 “Permitted Prior Working Capital
Lien” means, with respect to any borrower under a Bank Loan, a security interest to secure a senior facility for such borrower and/or any of its parents and/or subsidiaries; provided that (i) such Bank Loan has a second priority
lien on the collateral that is subject to the first priority lien of such senior facility (or a pari passu lien on such collateral), (ii) such senior facility is not secured by any other assets (other than a pari passu lien or a
second priority lien, subject to the pari passu or first priority lien of the Bank Loan) and does not benefit from any standstill rights or other agreements (other than customary rights) with respect to any other assets and (iii) the maximum
outstanding principal amount of such senior facility is not greater than 15% of the aggregate enterprise value of such borrower (as determined at the time of closing of the transaction, and thereafter an enterprise value for such borrower determined
in a manner consistent with the valuation methodology applied in the valuation for such borrower as determined by the Advisor (so long as it has the necessary delegated authority) or the Borrower’s board of directors (or the appropriate
committee thereof with the necessary delegated authority) in a commercially reasonable manner, including the use of an Approved Third-Party Appraiser in the case of Unquoted Investments). 

  
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 “Preferred Equity” as applied to the Equity Interests of any Person, means
Equity Interests of such Person of any class or classes (however designated) that ranks prior, as to the payment of dividends or as to the distribution of assets upon any voluntary or involuntary liquidation, dissolution or winding up of such
Person, to any shares (or other interests) of other Equity Interests of such Person, and shall include, without limitation, cumulative preferred, non-cumulative preferred, participating preferred and convertible preferred Equity Interests. 

“Principal Finance Asset” means any Portfolio Investment, the repayment of which is primarily dependent upon cash flows
generated from the creation, or the liquidation, of an underlying asset or pool of assets or other investments and which are not investments in CLO Securities; provided that, notwithstanding anything to the contrary in this Agreement, traditional
asset-based or cash flow loans made directly or indirectly to an operating company, including, without limitation, loans with a borrowing base consisting of receivables and/or inventory, shall not be deemed to be Principal Finance Assets.
Notwithstanding anything to the contrary in this Agreement, a Principal Finance Asset shall not be treated as a Bank Loan, Mezzanine Investment, High Yield Security, Performing DIP Loan, Performing Preferred Equity or Performing Common Equity for
any purpose under this Agreement. 
 “Second Lien Bank Loan” means a Bank Loan (other than a First Lien Bank Loan) that is
entitled to the benefit of a first and/or second lien and first and/or second priority perfected security interest (subject to customary encumbrances) on a substantial portion of the assets of the respective borrower and guarantors obligated in
respect thereof. 
 “Securities” means common and preferred stock, units and participations, member interests in limited
liability companies, partnership interests in partnerships, notes, bonds, debentures, trust receipts and other obligations, instruments or evidences of indebtedness, including debt instruments of public and private issuers and tax-exempt securities
(including warrants, rights, put and call options and other options relating thereto, representing rights, or any combination thereof) and other property or interests commonly regarded as securities or any form of interest or participation therein,
but not including Bank Loans. 
 “Securities Act” means the United States Securities Act of 1933, as amended. 

“Senior Debt Amount” means, as of any date, the greater of (i) the Covered Debt Amount and (ii) the Combined Debt
Amount. 
 “Senior Investments” means Cash, Cash Equivalents, Short-Term U.S. Government Securities, Long-Term U.S.
Government Securities, Performing First Lien Bank Loans, Performing First Lien Unitranche Bank Loans and Performing First Lien Last Out Bank Loans. 

“Short-Term U.S. Government Securities” means U.S. Government Securities maturing within one (1) month of the applicable
date of determination. 
 “U.S. Government Securities” has the meaning assigned to such term in Section 1.01 of this
Agreement. 
 “Value” means, with respect to any Portfolio Investment, the most recent value as determined pursuant to
Section 5.12. 

  
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 SECTION 5.14. Post-Closing Actions. The Borrower agrees that it will, and will
cause each other Obligor to, complete each of the actions described on Schedule X as soon as commercially reasonable and by no later than the date set forth in Schedule X with respect to such action or such later date as the Administrative Agent may
reasonably agree. All representations and warranties contained in this Agreement and the other Loan Documents shall be deemed modified (or waived on a limited basis) to the extent necessary to give effect to the foregoing (and to permit the taking
of the actions described in Schedule X within the time periods specified thereon), and, to the extent any provision of this Agreement or any other Loan Document would be violated or breached (or any non-compliance with any such provision would
result in a Default or Event of Default hereunder) as a result of any such extended deadline, such provision shall be deemed modified (or waived on a limited basis) to the extent necessary to give effect to this Section 5.14. 

ARTICLE VI 
 NEGATIVE
COVENANTS 
 Until the Facility Termination Date, the Borrower covenants and agrees with the Lenders that: 

SECTION 6.01. Indebtedness. The Borrower will not, nor will it permit any other Obligor to, create, incur, assume or permit to
exist any Indebtedness, except: 
 (a) Indebtedness created hereunder or under any other Loan Document; 

(b) Permitted Indebtedness and Special Longer Term Unsecured Indebtedness in an aggregate principal amount that, in each case, taken together
with Indebtedness permitted under clauses (a), (i), (e)(ii), (m) and (n) of this Section 6.01, immediately after giving effect to its incurrence and any Concurrent Transaction, (1) does not exceed the amount required to
comply with the provisions of Section 6.07(b), (2) no Borrowing Base Deficiency is continuing or would result therefrom and (3) so long as no Specified Default or Event of Default shall have occurred and be continuing immediately
after giving effect to the incurrence of such Permitted Indebtedness or Special Longer Term Unsecured Indebtedness, as applicable; provided that, for the avoidance of doubt, for purposes of compliance with clause (2) hereof, Special
Longer Term Unsecured Indebtedness and Excess Special Longer Term Unsecured Indebtedness shall only be included in the calculation of the Covered Debt Amount to the extent required under the definition of “Covered Debt Amount”; 

(c) Other Permitted Indebtedness; 

(d) (i) Indebtedness of the Borrower to or from any other Obligor, (ii) Indebtedness of an Obligor to or from another Obligor or
(iii) Indebtedness of the Borrower or any other Obligor to a Designated Subsidiary or a Permitted CLO Issuer to the extent a court determines a transfer of assets (including participations) from such Obligor to such Designated Subsidiary or
Permitted CLO Issuer did not constitute a true sale, provided, that with respect to this clause (iii), the holders of such Indebtedness have recourse only to the assets purported to be transferred (or in the case of participations, the
portfolio investments that such participation interest relates to) to such Designated Subsidiary or Permitted CLO Issuer and to no other assets of the Obligors in connection with such Indebtedness; 

  
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 (e) (i) repurchase obligations arising in the ordinary course of business with respect to
U.S. Government Securities and (ii) Contingent Secured Indebtedness in an aggregate principal amount not exceeding $100,000,000 at any one time outstanding so long as, in the case of this clause (ii), immediately after giving effect to the
incurrence of such Contingent Secured Indebtedness and any Concurrent Transaction, (w) no Specified Default or Event of Default shall have occurred and be continuing, (x) the Borrower is in pro forma compliance with Section 6.07(b),
(y) the Covered Debt Amount does not exceed the Borrowing Base and (z) no Contingent Borrowing Base Deficiency shall have occurred and be continuing; 

(f) obligations payable to clearing agencies, brokers or dealers in connection with the purchase or sale of securities in the ordinary course
of business; 
 (g) [reserved]; 

(h) obligations (including Guarantees) in respect of Standard Securitization Undertakings; 

(i) Shorter Term Unsecured Indebtedness in an aggregate principal amount (determined at the time of the incurrence of such Indebtedness) does
not exceed $700,000,000 in any annual period, taken together with Indebtedness permitted under clauses (a), (b), (e)(ii), (m) and (n) of this Section 6.01, immediately after giving effect to its incurrence and any Concurrent
Transaction, (1) does not exceed the amount required to comply with the provisions of Section 6.07(b), (2) no Borrowing Base Deficiency is continuing or would result therefrom and (3) so long as no Specified Default or Event of
Default shall have occurred and be continuing immediately after giving effect to the incurrence of such Shorter Term Unsecured Indebtedness and any Concurrent Transaction; 

(j) obligations of any Obligor under a Permitted SBIC Guarantee, any SBIC Equity Commitment and analogous commitments by such Obligor with
respect to any of its SBIC Subsidiaries; 
 (k) obligations arising with respect to Hedging Agreements and Credit Default Swaps entered into
pursuant to Section 6.04(c) or (i); 
 (l) [reserved]; 

(m) Shorter Term Secured Indebtedness and any other Indebtedness (including, for the avoidance of doubt, unsecured Guarantees by an Obligor of
the Indebtedness of an issuer or obligor under any Portfolio Investment held by any Obligor, so long as such Guarantees are extended by such Obligor in accordance with the Investment Policies) so long as, immediately after giving effect to its
incurrence and any Concurrent Transaction, (i) the aggregate principal amount of such Indebtedness does not exceed the greater of (x) $350,000,000 and (y) 5% of Shareholders’ Equity at the time of incurrence and, taken together
with Indebtedness permitted under clauses (a), (b), (e)(ii), (i) and (n) of this Section 6.01, does not exceed the amount required to comply with the provisions of Section 6.07(b), (ii) no Borrowing Base Deficiency is
continuing or would result 

  
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therefrom, (iii) no Specified Default or Event of Default shall have occurred and be continuing immediately after giving effect to the incurrence of such Shorter Term Secured Indebtedness
and any Concurrent Transaction and (iv) solely to the extent that such Indebtedness constitutes Contingent Secured Indebtedness, no Contingent Borrowing Base Deficiency shall have occurred and be continuing; and 

(n) other Indebtedness (including, for the avoidance of doubt, unsecured Guarantees by an Obligor of the Indebtedness of an issuer or obligor
under any Portfolio Investment held by any Obligor, so long as such Guarantees are extended by such Obligor in accordance with the Investment Policies) at any time in an aggregate principal amount outstanding not to exceed $50,000,000; so long as,
immediately after giving effect to its incurrence and any Concurrent Transaction, (i) the aggregate principal amount of such Indebtedness, taken together with Indebtedness permitted under clauses (a), (b), (e)(ii), (i) and (m) of
this Section 6.01, does not exceed the amount required to comply with the provisions of Section 6.07(b) and (ii) no Borrowing Base Deficiency is continuing or would result therefrom and (iii) solely to the extent that such
Indebtedness constitutes Contingent Secured Indebtedness, no Contingent Borrowing Base Deficiency shall have occurred and be continuing. 

SECTION 6.02. Liens. The Borrower will not, nor will it permit any other Obligor to, create, incur, assume or permit to
exist any Lien on any property or asset now owned or hereafter acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights in respect of any thereof, except: 

(a) any Lien on any property or asset of the Borrower or another Obligor existing on the Effective Date and set forth in Part B of
Schedule II, provided that (i) no such Lien shall extend to any other property or asset of the Borrower or any Subsidiary Guarantors (other than proceeds thereof or accessions thereto) and (ii) any such Lien shall secure only
those obligations which it secures on the Effective Date and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof, except to the extent not prohibited hereunder; 

(b) Liens created pursuant to the Security Documents; 

(c) Liens on Special Equity Interests included in the Portfolio Investments but only to the extent securing obligations in the manner provided
in the definition of “Special Equity Interests” in Section 1.01; 
 (d) Liens securing Indebtedness or other obligations,
that, together with all then outstanding Indebtedness and other obligations secured by Liens incurred pursuant to (i) Section 6.01(m), does not exceed the greater of (x) $350,000,000 and (y) 5% of Shareholders’ Equity or
(ii) Section 6.01(n), does not exceed $50,000,000, in each case, at the time of the granting of such Lien (which may cover Portfolio Investments, but only to the extent released from the Lien in favor of the Collateral Agent in accordance
with the requirements of Section 9.02(c) hereof and/or Section 10.03 of the Guarantee and Security Agreement, or, if designated by the Borrower as “Designated Indebtedness” under the Guarantee and Security Agreement, may be
secured on a pari passu basis by the Lien of the Security Documents), so long as immediately after giving effect to its granting and any Concurrent Transactions, (i) the aggregate amount of Indebtedness of the Borrower does not exceed the
amount required to comply with the provisions of Section 6.07(b) and (ii) the Covered Debt Amount does not exceed the Borrowing Base; 

  
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 (e) Liens on an Obligor’s direct ownership interests in Excluded Assets
(“Excluded Asset Liens”) but only to the extent that at the time any such Lien is incurred, no more than 25% of the Value of all Obligors’ direct ownership interests in all Excluded Assets (calculated as of the most recently
delivered financial statements) have become subject to an Excluded Asset Lien or have been transferred pursuant to Section 6.03(e); 

(f) Permitted Liens; 
 (g) Liens
on the direct ownership interest of any Obligor in an Excluded Asset to secure obligations owed to a creditor of such Excluded Asset; 
 (h)
(i) Liens on assets not constituting Collateral securing Indebtedness permitted under Sections 6.01(e)(i) and (f) and (ii) Liens on Investments subject to a repurchase obligation permitted under Section 6.01(e)(ii), 6.01(m),
6.01(n) or otherwise solely to the extent such Lien only covers such Investments; 
 (i) Liens created by posting of cash collateral in
connection with (i) Hedging Agreements and Credit Default Swaps permitted under Section 6.04(c) and (ii) Credit Default Swaps permitted under Section 6.04(i) so long as, in the case of this clause (i)(ii), the Covered Debt Amount
does not exceed the Borrowing Base immediately prior to the granting of such Lien and either (A) the amount by which the Borrowing Base exceeds the Covered Debt Amount immediately prior to the granting of any such Lien under this clause (i)(ii)
is not diminished as a result of the granting of such Lien or (B) the Adjusted Gross Borrowing Base immediately after giving effect to the granting of any such Lien under this clause (ii) is at least 110% of the Covered Debt Amount; and

 (j) Liens existing on any property or asset prior to the acquisition thereof by the Borrower or another Obligor (other than any Portfolio
Investment); provided that (i) such Lien is not created in contemplation of or in connection with such acquisition and (ii) such Lien does not apply to any other property or assets (other than proceeds thereof or accessions thereto)
of the Borrower or such Obligor. 
 SECTION 6.03. Fundamental Changes and Dispositions of Assets. The Borrower will not, nor
will it permit any other Obligor to, enter into any transaction of merger or consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution). The Borrower will not, nor will it permit any other
Obligor to, acquire any business or property from, or capital stock of, or be a party to any acquisition of, any Person, except for purchases or acquisitions of Portfolio Investments and other assets in the normal course of the day-to-day business
activities of the Borrower and its Subsidiaries and not in violation of the terms and conditions of this Agreement or any other Loan Document. The Borrower will not, nor will it permit any other Obligor to, convey, sell, lease, transfer or otherwise
dispose of, in one (1) transaction or a series of transactions, any part of its assets, whether now owned or hereafter acquired, but excluding (w) any transaction permitted under Section 6.05 or 6.12, (x) assets sold or disposed
of in the ordinary course of business (including to make expenditures of cash in the 

  
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normal course of the day-to-day business activities of the Borrower and its Subsidiaries and the use of Cash and Cash Equivalents in the ordinary course of business) (other than the transfer of
Portfolio Investments to Excluded Assets), (y) subject to the provisions of clause (d) below, the transfer or sale of Portfolio Investments to Excluded Assets or Immaterial Subsidiaries and (z) subject to the provisions of
clauses (c) and (e) below, any Obligor’s ownership interest in any Excluded Asset or any Immaterial Subsidiary. 

Notwithstanding the foregoing provisions of this Section 6.03: 

(a) any Subsidiary Guarantor of the Borrower may be merged or consolidated with or into the Borrower or any other Subsidiary Guarantor;
provided that if any such transaction shall be between a Subsidiary Guarantor and a wholly owned Subsidiary Guarantor, the wholly owned Subsidiary Guarantor shall be the continuing or surviving corporation or such other Person that is the
continuing or surviving entity in such transaction becomes a Subsidiary Guarantor and expressly assumes, in writing, all the obligations of a Subsidiary Guarantor under the Loan Documents; 

(b) any Obligor may sell, lease, transfer or otherwise dispose of any or all of its assets (upon voluntary liquidation or otherwise) to the
Borrower or any wholly owned Subsidiary Guarantor of the Borrower; 
 (c) the capital stock of any Subsidiary of any Obligor may be sold,
transferred or otherwise disposed of (including by way of consolidation or merger) (i) to the Borrower or any wholly owned Subsidiary Guarantor of the Borrower or (ii) so long as such transaction results in an Obligor receiving the
proceeds of such disposition, to any other Person (excluding any Affiliate of the Borrower that is not an Obligor at any time a Specified Default or an Event of Default has occurred and is continuing); provided that in the case of this clause
(ii), if such Subsidiary is a Subsidiary Guarantor or holds any Portfolio Investments, immediately after giving effect to such sale, transfer or disposition and any Concurrent Transactions, the Borrower is in pro forma compliance with
Section 6.07(b), the Covered Debt Amount does not exceed the Borrowing Base and either (x) the amount of any excess availability under the Borrowing Base immediately prior to such disposition is not diminished as a result of such
disposition or (y) the Adjusted Gross Borrowing Base immediately after giving effect to such disposition is at least 110% of the Covered Debt Amount; provided that sales of the ownership or economic interests in any Excluded Asset to a
Subsidiary that is not an Obligor shall be subject to clause (e) below; 
 (d) the Obligors may sell, transfer or otherwise dispose of
Cash, Cash Equivalents and Portfolio Investments (other than the ownership or economic interests in any Excluded Asset, which shall be subject to clause (e) below) to an Excluded Asset or Immaterial Subsidiary so long as immediately after
giving effect to such sale, transfer or disposition and any Concurrent Transactions, (i) the Covered Debt Amount does not exceed the Borrowing Base and (ii) either (x) the amount of any excess availability under the Borrowing Base
immediately prior to such sale, transfer or disposition is not diminished as a result of such sale, transfer, or disposition or (y) the Adjusted Gross Borrowing Base is at least 110% of the Covered Debt Amount; provided that, for the
purposes of this clause (ii) and in connection with the organization of any CLO Security, the Borrowing Base, the Adjusted Gross Borrowing Base and the Covered Debt Amount, as applicable, shall be tested as of the pricing date for such CLO
Security; 

  
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 (e) the Obligors may sell, transfer or otherwise dispose of direct ownership interests in
any Excluded Asset to any Subsidiary that is not an Obligor, if immediately after giving effect to such sale, transfer or other disposition and any Concurrent Transactions, no more than 25% of the Value of all Obligors’ direct ownership
interests in all Excluded Assets (calculated as of the date of the most recently delivered financial statements on or prior to the date of such sale, transfer or other disposition) are subject to Excluded Asset Liens or have been sold, transferred
or otherwise disposed of to a Subsidiary that is not an Obligor pursuant to this clause (e); provided that, notwithstanding that a transfer may violate such 25% limitation, such transfer shall nevertheless be permitted if it is required by law,
rule, regulation or interpretive position of the SEC; 
 (f) the Borrower may merge or consolidate with, or acquire all or substantially all
of the assets of, any other Person so long as (i) the Borrower is the continuing or surviving entity in such transaction and (ii)(x) with respect to any Specified Purchase, as of the date of entering into the applicable agreement governing such
merger, consolidation or acquisition or (y) with respect to any other merger, consolidation or acquisition at the time thereof, and, in each case, after giving pro forma effect thereto and any Concurrent Transaction, no Default or Event of
Default shall have occurred and be continuing; 
 (g) the Borrower or the other Obligors may dissolve or liquidate (i) any Immaterial
Subsidiary or (ii) any other Subsidiary so long as, with respect to this clause (ii), (A) in connection with such dissolution or liquidation, any and all of the assets of such Subsidiary shall be distributed or otherwise transferred
to an Obligor (or, if such Subsidiary is an Excluded Asset, to another Excluded Asset) and (B) such dissolution or liquidation is not materially adverse to the Lenders and the Borrower determines in good faith that such dissolution or
liquidation is in its best interests; 
 (h) the Borrower and the other Obligors may sell, lease, transfer or otherwise dispose of equipment
or other property or assets that do not consist of Portfolio Investments so long as the aggregate amount of all such sales, leases, transfer and dispositions does not exceed $10,000,000 in any fiscal year; and 

(i) the Obligors may transfer assets that such Obligor would otherwise be permitted to own to an Excluded Asset for the sole purpose of
facilitating the transfer of assets from one (1) Excluded Asset (or a Subsidiary that was an Excluded Asset immediately prior to such disposition) to another Excluded Asset, directly or indirectly through such Obligor (such assets, the
“Transferred Assets”); provided that (i) no Event of Default exists and is continuing at such time or would result from any such transfer to or by such Obligor, (ii) immediately after giving effect to such transfer
and any Concurrent Transaction, the Covered Debt Amount shall not exceed the Borrowing Base at such time, (iii) the Transferred Assets are transferred to such Obligor by the transferor Excluded Asset on the same Business Day that such assets
are transferred by such Obligor to the transferee Excluded Asset, and (iv) following such Transfer such Obligor has no liability, actual or contingent, with respect to the Transferred Assets other than Standard Securitization Undertakings (for
the avoidance of doubt, in determining for the purposes of this Agreement whether any Obligor has received Net Cash Proceeds in respect of any transaction involving a Transferred Asset, the transfer of such Transferred Asset to and from such Obligor
shall be deemed to be a single transaction). 

  
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 provided that in no event shall the Borrower enter into any transaction of merger or consolidation or
amalgamation, or effect any internal reorganization, if the surviving entity would be organized under any jurisdiction other than a jurisdiction of the United States. 

SECTION 6.04. Investments. The Borrower will not, nor will it permit any other Obligor to, acquire, make or enter into, or hold,
any Investments except: 
 (a) operating deposit accounts and securities accounts with banks; 

(b) Investments by the Borrower and the Subsidiary Guarantors in the Borrower and the Subsidiary Guarantors; 

(c) Hedging Agreements and Credit Default Swaps entered into in the ordinary course of any Obligor’s business for financial planning and
not for speculative purposes; 
 (d) Portfolio Investments (other than Credit Default Swaps) by the Borrower and its Subsidiaries (including
investments in Excluded Assets) to the extent such Portfolio Investments are permitted under the Investment Company Act and the Borrower’s Investment Policies; provided that, if such Portfolio Investment is not included in the Collateral
Pool (other than Portfolio Investments or Excluded Assets (but excluding Cash or Cash Equivalents) exchanged for Portfolio Investments made or received in connection with or as a result of a workout or restructuring), immediately after giving effect
to such Investment and any Concurrent Transaction, then (i) the Covered Debt Amount does not exceed the Borrowing Base and (ii) either (x) the amount of any excess availability under the Borrowing Base immediately prior to such
Portfolio Investment is not diminished as a result of such Portfolio Investment or (y) the Adjusted Gross Borrowing Base immediately after giving effect to such Portfolio Investment is at least 110% of the Covered Debt Amount; provided
further that, in connection with a Specified Purchase, with respect to Portfolio Investments for which the Borrower and/or any of its Subsidiaries has entered into a binding commitment or is otherwise required in connection with such Specified
Purchase to acquire, make or enter into, or hold, such Investment, this clause (d) shall be tested on a pro forma basis as of the date of entry into the definitive agreement for such commitment; 

(e) Investments in (or capital contribution to) Excluded Assets to the extent permitted by Section 6.03(d) or (i); 

(f) Investments described on Schedule IV hereto; 

(g) Investments in Controlled Foreign Corporations; provided that, if cash or other assets are being contributed or invested in any
such Controlled Foreign Corporation, and such Investment is not included in the Collateral Pool, immediately after giving effect to such Investment and any Concurrent Transaction, then (i) the Covered Debt Amount does not exceed the Borrowing
Base and (ii) either (x) the amount of any excess availability under the Borrowing Base immediately prior to such Investment is not diminished as a result of such Investment or (y) the Adjusted Gross Borrowing Base immediately after
giving effect to such Investment is at least 110% of the Covered Debt Amount; 

  
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 (h) Investments in Immaterial Subsidiaries; provided that, if cash or other assets
are being contributed or invested in any such Immaterial Subsidiary, and such Investment is not included in the Collateral Pool, immediately after giving effect to such Investment and any Concurrent Transaction, then (i) the Covered Debt Amount
does not exceed the Borrowing Base and (ii) either (x) the amount of any excess availability under the Borrowing Base immediately prior to such Investment is not diminished as a result of such Investment or (y) the Adjusted Gross
Borrowing Base immediately after giving effect to such Investment is at least 110% of the Covered Debt Amount; 
 (i) Investments
constituting Credit Default Swaps with an aggregate notional amount not to exceed 3% of the Borrower’s total assets; and 
 (j)
additional Investments up to but not exceeding $50,000,000 in the aggregate at any time outstanding. 
 For purposes of clause (e), (g), (h) and
(i) of this Section 6.04, the aggregate amount of an Investment at any time shall be deemed to be equal to (A) the aggregate amount of cash, together with the aggregate fair market value of property, loaned, advanced, contributed,
transferred or otherwise invested that gives rise to such Investment (calculated at the time such Investment is made) minus (B) the aggregate amount of the return of capital and dividends, distributions or other payments received in cash
in respect of such Investment and the values of other Investments received in respect of such Investment, provided that in no event shall the aggregate amount of such Investment be deemed to be less than zero (0); the amount of an Investment
shall not in any event be reduced by reason of any write-off of such Investment nor increased by any increase in the amount of earnings retained in the Person in which such Investment is made that have not been dividended, distributed or otherwise
paid out. 
 SECTION 6.05. Restricted Payments. The Borrower will not, nor will it permit any other Obligor to, declare or
make, or agree to pay or make, directly or indirectly, any Restricted Payment, except that the Borrower may declare and pay: 
 (a) dividends
with respect to the capital stock of the Borrower to the extent payable in additional shares of the Borrower’s common stock; 
 (b)
dividends and distributions in either case in cash or other property (excluding for this purpose the Borrower’s common stock) in or with respect to any taxable year (or any calendar year, as relevant) of the Borrower in amounts not to exceed
110% of the higher of (x) the net investment income of the Borrower for the applicable year determined in accordance with GAAP and as specified in the annual financial statements most recently delivered pursuant to Section 5.01(a) and
(y) the amount that is estimated in good faith to allow the Borrower (i) to satisfy the minimum distribution requirements imposed by Section 852(a) of the Code (or any successor thereto) to maintain the Borrower’s
eligibility to be taxed as a RIC for any such taxable year, (ii) to reduce to zero (0) for any such taxable year its liability for federal income taxes imposed on (A) its investment company taxable income pursuant to
Section 852(b)(1) of the Code (or any successor thereto), and (B) its net capital gain pursuant to Section 852(b)(3) of the Code (or any successor thereto), and (iii) to avoid federal excise taxes for such taxable year (or for
the previous taxable year) imposed by Section 4982 of the Code (or any successor thereto); 

  
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 (c) any settlement in respect of a conversion feature in any convertible security that may
be issued by the Borrower to the extent made through the delivery of common stock (except in the case of interest (which may be payable in cash)); and 

(d) other Restricted Payments so long as (i) immediately after giving effect thereto and any Concurrent Transaction, the Covered Debt
Amount does not exceed either (A) 90% of the Adjusted Gross Borrowing Base or (B) the Borrowing Base, (ii) immediately after giving effect thereto and any Concurrent Transaction, no Specified Default or Event of Default shall have
occurred and be continuing and (iii) on the date of such other Restricted Payment the Borrower delivers to the Administrative Agent and each Lender a Borrowing Base Certificate as at such date demonstrating compliance with subclause (i)
immediately after giving effect to such Restricted Payment and any Concurrent Transaction. For purposes of preparing such Borrowing Base Certificate, (A) the Value of any Quoted Investment shall be the most recent quotation available for such
Portfolio Investment and (B) the Value of any Unquoted Investment shall be the Value set forth in the Borrowing Base Certificate most recently delivered by the Borrower to the Administrative Agent and the Lenders pursuant to
Section 5.01(d), provided that the Borrower shall reduce the Value of any Portfolio Investment referred to in this subclause (B) to the extent necessary to take into account any events of which the Borrower has knowledge that
adversely affect the value of such Portfolio Investment. 
 In calculating the amount of Restricted Payments made by the Borrower during any
period referred to in paragraph (b) above, any Restricted Payments made by Designated Subsidiaries or any other Excluded Asset that is a Subsidiary during such period (other than any such Restricted Payments that are made directly or indirectly
to Obligors) shall be treated as Restricted Payments made by the Borrower during such period. 
 Nothing herein shall be deemed to prohibit
the payment of Restricted Payments by any Subsidiary Guarantor of the Borrower to the Borrower or to any other Subsidiary Guarantor. 
 For
the avoidance of doubt, the Borrower shall not declare any dividend to the extent such declaration violates the provisions of the Investment Company Act applicable to it and the determination of the amounts referred to in paragraph (b) above
shall be made separately for the taxable year and the calendar year and the limitation on dividends or distributions imposed by such paragraphs shall apply separately to the amounts so determined. 

SECTION 6.06. Certain Restrictions on Significant Subsidiaries. The Borrower will not permit any of its Significant Subsidiaries
(other than Excluded Assets) to enter into or suffer to exist any indenture, agreement, instrument or other arrangement (other than (a) the Loan Documents, (b) any indenture, agreement, instrument or other arrangement entered into in
connection with Indebtedness permitted under Section 6.01 to the extent any such indenture, agreement, instrument or other arrangement does not prohibit or restrain, in each case in any material respect, or impose materially adverse conditions
upon, the requirements applicable to the Significant Subsidiaries under the Loan Documents or (c) any agreement, instrument or other arrangement pertaining to any lease, sale or other disposition of any asset permitted by this Agreement so long
as the applicable restrictions (x) only apply to such assets and (y) do not restrict prior to the consummation of such sale or disposition the creation or existence of the Liens in favor of the Collateral Agent pursuant to the Security
Documents or otherwise required by this 

  
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Agreement, or the incurrence or payment of Indebtedness under this Agreement or the ability of the Significant Subsidiaries to perform any other obligation under any of the Loan Documents) that
prohibits or restrains, in each case in any material respect, or imposes materially adverse conditions upon, the incurrence or payment of Indebtedness, the granting of Liens, the declaration or payment of dividends, the making of loans, advances,
guarantees or Investments or the sale, assignment, transfer or other disposition of property. 
 SECTION 6.07. Certain Financial
Covenants. 
 (a) Minimum Shareholders’ Equity. The Borrower will not permit its Shareholders’ Equity at the last day
of any fiscal quarter to be less than an amount equal to the sum of (x) $3,700,000,000 plus (y) 25% of the net cash proceeds of the sale of Equity Interests of the Borrower after the Effective Date (other than proceeds of any distribution
or dividend reinvestment plan). 
 (b) Asset Coverage Ratio. The Borrower will not permit the Asset Coverage Ratio to be less than
1.50 to 1 at any time. 
 SECTION 6.08. Transactions with Affiliates. The Borrower will not, and will not permit any
other Obligors to enter into any transactions with any of its Affiliates, even if otherwise permitted under this Agreement, except (a) transactions in the ordinary course of business at prices and on terms and conditions not less favorable to
the Borrower or such other Obligor, as applicable, than could be obtained on an arm’s-length basis from unrelated third parties, (b) transactions between or among the Borrower and any other Obligors not involving any other Affiliate,
(c) transactions among the Borrower and/or its Subsidiaries pursuant to Section 6.03, Investments permitted by Section 6.04 and Restricted Payments permitted by Section 6.05, (d) the Affiliate Agreement and the transactions
provided in the Affiliate Agreement (as such agreement is amended, modified or supplemented from time to time in a manner not materially adverse to the Lenders), (e) transactions described or referenced on Schedule V, (f) any
Investment that results in the creation of an Affiliate, (g) transactions with one (1) or more Affiliates as permitted by any SEC exemptive order (as may be amended from time to time), exemptive rule or no action relief that a majority of
the independent members of the board of directors of the Borrower determines is reasonable and fair to the Borrower and does not involve overreaching of the Borrower on the part of the Affiliate, (h) any co-investment transaction to the extent
not in violation of applicable law, (i) the payment of compensation and reimbursement of expenses and indemnification to officers and directors in the ordinary course of business, (j) transactions between or among the Obligors and any
Excluded Asset (i) at prices and on terms and conditions, taken as a whole, not materially less favorable to the Obligors than could be obtained at the time on an arm’s-length basis from unrelated third parties, or (ii) arising from,
in connection with or related to Standard Securitization Undertakings, (k) transactions approved by a majority of the independent members of the board of directors of the Borrower or (l) under or related to the Permitted Advisor Loan and
permitted hereunder. 
 SECTION 6.09. Lines of Business. The Borrower will not, nor will it permit any other Obligors to,
engage in any business in a manner that would violate its Investment Policies in any material respect. 

  
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 SECTION 6.10. No Further Negative Pledge. The Borrower will not, and will not
permit any other Obligors to, enter into any agreement, instrument, deed or lease which prohibits or limits in any material respect the ability of any Obligor to create, incur, assume or suffer to exist any Lien upon any of its properties, assets or
revenues, whether now owned or hereafter acquired, or which requires the grant of any security for an obligation if security is granted for another obligation, except the following: (a) this Agreement and the other Loan Documents;
(b) covenants in documents creating Liens permitted by Section 6.02 (including covenants with respect to Designated Indebtedness Obligations or Designated Indebtedness Holders under the Guarantee and Security Agreement) prohibiting further
Liens on the assets encumbered thereby; (c) customary restrictions contained in leases not subject to a waiver; (d) any agreement that imposes such restrictions only on Equity Interests in Excluded Assets; (e) the underlying governing
agreements of any minority Equity Interest that impose such restrictions only on such Equity Interest; and (f) any other agreement that does not restrict in any manner (directly or indirectly) Liens created pursuant to the Loan Documents on any
Collateral securing the Secured Obligations and does not require (other than pursuant to a grant of a Lien under the Loan Documents) the direct or indirect granting of any Lien securing any Indebtedness or other obligation by virtue of the granting
of Liens on or pledge of property of any Obligor to secure the Loans, or any Hedging Agreement. 
 SECTION 6.11. Modifications of
Certain Documents. The Borrower will not consent to any modification, supplement or waiver of (a) any of the provisions of any agreement, instrument or other document evidencing or relating to any Permitted Indebtedness or Special
Longer-Term Unsecured Indebtedness that would result in such Permitted Indebtedness or Special Longer-Term Unsecured Indebtedness not meeting the requirements of the definition of “Permitted Indebtedness” or “Special Longer-Term
Unsecured Indebtedness”, as applicable, set forth in Section 1.01 of this Agreement, unless following such amendment, modification or waiver, such Permitted Indebtedness or Special Longer-Term Unsecured Indebtedness, as applicable, would
otherwise be permitted under Section 6.01, or (b) either of the Affiliate Agreement or the Custodian Agreement, unless such modification, supplement or waiver is not materially less favorable to the Borrower than could be obtained on an
arm’s-length basis from unrelated third parties, in each case, without the prior consent of the Administrative Agent (with the approval of the Required Lenders). 

Without limiting the foregoing, the Borrower may, at any time and from time to time, without the consent of the Administrative Agent or the
Required Lenders, freely amend, restate, terminate, or otherwise modify any documents, instruments and agreements evidencing, securing or relating to Indebtedness permitted pursuant to Section 6.01(d), including increases in the principal
amount thereof, modifications to the advance rates and/or modifications to the interest rate, fees or other pricing terms so long as following any such action such Indebtedness continues to be permitted under Section 6.01(d). 

SECTION 6.12. Payments of Other Indebtedness. The Borrower will not, nor will it permit any other Obligor to, purchase, redeem,
retire or otherwise acquire for value, or set apart any money for a sinking, defeasance or other analogous fund for the purchase, redemption, retirement or other acquisition of, or make any voluntary payment or prepayment of the principal of or
interest on, or any other amount owing in respect of, any Permitted Indebtedness or any Indebtedness that is not then included in the Covered Debt Amount (other than (x) payments and prepayments under the Permitted Advisor Loan pursuant to
Section 6.05(f) or (y) the refinancing of such Indebtedness with Indebtedness permitted under Section 6.01 (including, for the avoidance of doubt, as incurred by an Excluded Asset or other Subsidiary) or with the proceeds of
any issuance of Equity Interests), except for: 

  
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 (a) regularly scheduled payments, prepayments or redemptions of principal and interest in
respect thereof required pursuant to the instruments evidencing such Indebtedness and the payment when due of the types of fees and expenses that are customarily paid in connection with such Indebtedness (it being understood that: (w) the
conversion features into Permitted Equity Interests under convertible notes; (x) the triggering of such conversion and/or settlement thereof solely with Permitted Equity Interests; (y) any cash payment on account of interest, expenses or
fractional shares on such convertible notes made in respect of such triggering and/or settlement thereof and (z) any customary mandatory prepayment provisions required by the terms thereof, shall be permitted under this clause (a)); 

(b) payments and prepayments thereof required to comply with requirements of Section 2.10(c); 

(c) any payments and prepayments with respect to any Permitted Advisor Loan so long as, (i) at the time of and immediately after giving
effect to such payment or prepayment, as applicable, and any Concurrent Transactions, no Specified Default or Event of Default shall have occurred and be continuing and (ii) the Adjusted Gross Borrowing Base immediately after giving effect to
such payment or prepayment, as applicable, is at least 115% of the Covered Debt Amount; and 
 (d) other payments and prepayments (other
than any payment or prepayment of any Permitted Advisor Loan) so long as immediately after giving effect to such payment or prepayment, as applicable, and any Concurrent Transaction, if such payment or prepayment were deemed a “Restricted
Payment” for the purposes of determining compliance with Section 6.05(d), such payment or prepayment, as applicable, would be permitted to be made under Section 6.05(d); 

provided that, in the case of clauses (a) and (b) above, in no event shall any Obligor be permitted to prepay or settle (whether as a result
of a mandatory redemption, conversion or otherwise) any such Indebtedness if immediately after giving effect thereto and to any Concurrent Transactions, the Covered Debt Amount would exceed the Borrowing Base. 

ARTICLE VII 
 EVENTS
OF DEFAULT 
 SECTION 7.01. Events of Default. Until the Facility Termination Date, if any of the following events
(“Events of Default”) shall occur and be continuing: 
 (a) the Borrower shall (i) fail to pay any principal of any
Loan or any reimbursement obligation in respect of any LC Disbursement when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise or (ii) fail to deposit any amount
into the Letter of Credit Collateral Account as required by Section 2.05(d) on the Extended Commitment Termination Date or as required by Section 2.21(b) on the date so required; 

  
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 (b) the Borrower shall fail to pay any interest on any Loan or any fee or any other amount
(other than an amount referred to in clause (a) of this Article) payable under this Agreement or under any other Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five
(5) or more Business Days; 
 (c) any representation or warranty made (or deemed made pursuant to Section 4.02) by or on behalf of
the Borrower or any of its Subsidiaries (other than Immaterial Subsidiaries) in or in connection with this Agreement or any other Loan Document or any amendment or modification hereof or thereof, or in any report, certificate, financial statement or
other document furnished by or on behalf of the Borrower or any of its Subsidiaries (other than Immaterial Subsidiaries) pursuant to or in connection with this Agreement or any other Loan Document or any amendment or modification hereof or thereof,
shall prove to have been incorrect when made or deemed made in any material respect and such failure shall continue unremedied for a period of thirty (30) or more days after the earlier of the Borrower obtaining actual knowledge thereof or
receiving notice thereof from the Administrative Agent (given at the request of any Lender); 
 (d) the Borrower shall fail to observe or
perform any covenant, condition or agreement contained in (i) Section 5.03 (with respect to the Borrower’s existence) or Sections 5.08(a) and (b) or in Article VI or any Obligor shall default in the performance of any
of its obligations contained in Section 7 of the Guarantee and Security Agreement (other than Section 7.01 thereof) or (ii) Sections 5.01(d) and (e) or Section 5.02 and such failure shall continue unremedied for a
period of five (5) or more Business Days after the earlier of the Borrower obtaining actual knowledge of such failure and that it has resulted in a Default hereunder or receiving notice thereof from the Administrative Agent (given at the
request of any Lender); it being acknowledged and agreed that a failure of an Obligor to “Deliver” (as defined in the Guarantee and Security Agreement) any particular Investment to the extent required by Section 7.01 of the Guarantee
and Security Agreement shall result in such Investment not being included in the Borrowing Base but shall not (in and of itself) be, or result in, a Default or an Event of Default under this clause (d); 

(e) a Borrowing Base Deficiency shall occur and continue unremedied for a period of five (5) or more Business Days after delivery of a
Borrowing Base Certificate demonstrating such Borrowing Base Deficiency pursuant to Section 5.01(e); provided that it shall not be an Event of Default hereunder if the Borrower shall present the Administrative Agent with a reasonably
feasible plan to cure such Borrowing Base Deficiency within thirty (30) Business Days (which thirty (30) Business Day period shall include the five (5) Business Days permitted for delivery of such plan), so long as such Borrowing Base
Deficiency is cured within such thirty (30) Business Day period; provided further, such thirty (30) Business Day period shall be extended to a forty-five (45) Business Day period solely to the extent as provided in
Section 2.10(c)(i) in order to cure any failure to satisfy Section 5.13(h); 
 (f) the Borrower or any other Obligor, as
applicable, shall fail to observe or perform any covenant, condition or agreement contained in this Agreement (other than those specified in clause (a), (b), (d) or (e) of this Article) or any other Loan Document and such failure
shall continue unremedied for a period of thirty (30) or more days after the earlier of the Borrower obtaining actual knowledge of such failure and that it has resulted in a Default hereunder or receiving notice thereof from the Administrative
Agent (given at the request of any Lender); 

  
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 (g) the Borrower or any of its Subsidiaries shall fail to make any payment of principal or
interest in respect of any Material Indebtedness, when and as the same shall become due and payable, taking into account (other than with respect to payments of principal) any applicable grace or cure period; 

(h) any event or condition occurs (i) that results in any Material Indebtedness becoming due prior to its scheduled maturity or
(ii) that shall continue unremedied for any applicable period of time sufficient to enable or permit the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become
due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity (for the avoidance of doubt, other than as permitted under Section 6.12 and that is not a result of a breach, default or other
violation or failure in respect of such Material Indebtedness by the Borrower or any of its Subsidiaries and, after giving effect to any applicable grace or cure period); provided that this clause (h) shall not apply to (1) secured
Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing such Indebtedness, (2) convertible debt that becomes due as a result of a conversion or redemption event, other than as a result of
an “event of default” (as defined in the documents governing such convertible Material Indebtedness), (3) any Indebtedness of a Designated Subsidiary that becomes due in part as a result of a breach of an overcollateralization test or
borrowing base deficiency, or a customary “change of control” put right in any indenture or (4) in the case of clause (h)(ii), any Indebtedness of a Designated Subsidiary (x) to the extent the event or condition giving rise to
the circumstances in clause (h)(ii) was not a payment or insolvency default or (y) so long as all Commitments have not been terminated and the Loans have not been declared due and payable in full, to the extent such event or condition is no
longer continuing or has been waived in accordance with the terms of such Material Indebtedness such that the holder or holders thereof or any trustee or agent on its or their behalf are no longer enabled or permitted to cause such Material
Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; 

(i) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization or
other relief in respect of the Borrower or any of its Significant Subsidiaries (or group of Subsidiaries that if consolidated would constitute a Significant Subsidiary) or its debts, or of a substantial part of its assets, under any Federal, state
or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any of its Significant
Subsidiaries (or group of Subsidiaries that if consolidated would constitute a Significant Subsidiary) or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed and unstayed for a period
of sixty (60) or more days or an order or decree approving or ordering any of the foregoing shall be entered; 
 (j) the Borrower or
any of its Significant Subsidiaries (or group of Subsidiaries that if consolidated would constitute a Significant Subsidiary) shall (i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief
under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described
in clause (i) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any of its Significant Subsidiaries (or group of Subsidiaries
that if consolidated would constitute a Significant Subsidiary) or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general
assignment for the benefit of creditors or (vi) take any action for the purpose of effecting any of the foregoing; 

  
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 (k) the Borrower or any of its Significant Subsidiaries (or group of Subsidiaries that if
consolidated would constitute a Significant Subsidiary) shall become unable, admit in writing its inability or fail generally to pay its debts as they become due; 

(l) one (1) or more judgments for the payment of money in an aggregate amount in excess of $100,000,000 shall be rendered against the
Borrower or any of its Subsidiaries (other than Immaterial Subsidiaries) or any combination thereof and (i) if not covered by insurance, the same shall remain undischarged for a period of sixty (60) consecutive days following the entry of
such judgment during which sixty (60) day period such judgment shall not have been vacated, stayed, discharged or bonded pending appeal, or (ii) any action shall be legally taken by a judgment creditor to attach or levy upon any assets of
the Borrower or any of its Subsidiaries (other than Immaterial Subsidiaries) to enforce any such judgment; 
 (m) an ERISA Event shall have
occurred that, when taken together with all other ERISA Events that have occurred, would reasonably be expected to result in a Material Adverse Effect; 

(n) a Change in Control shall occur; 

(o) [reserved]; 
 (p) the Liens
created by the Security Documents shall, at any time with respect to Portfolio Investments included in the Collateral Pool having an aggregate Value in excess of 5% of the aggregate Value of all Portfolio Investments included in the Collateral
Pool, not be valid and perfected (to the extent perfection by filing, registration, recordation, possession or control is required herein or therein) in favor of the Collateral Agent, free and clear of all other Liens (other than Liens permitted
under Section 6.02 or under the respective Security Documents); provided that if such default is as a result of any action of the Administrative Agent or the Collateral Agent or a failure of the Administrative Agent or the Collateral
Agent to take any action within its control, then there shall be no Default or Event of Default hereunder unless such default shall continue unremedied for a period of ten (10) consecutive Business Days after the Borrower receives written notice of
such default thereof from the Administrative Agent unless the continuance thereof is a result of a failure of the Administrative Agent or the Collateral Agent to take an action within their control; 

(q) except for expiration or termination in accordance with its terms, any of the Security Documents shall for whatever reason be terminated
or cease to be in full force and effect in any material respect, or the enforceability thereof shall be contested by any Obligor; 
 (r) the
Obligors shall at any time, without the consent of the Required Lenders, (i) modify, supplement or waive in any material respect the Investment Policies (other than any modification, supplement or waiver required by any applicable law, rule or
regulation or Governmental Authority), provided that a modification, supplement or waiver shall not be deemed 

  
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a modification in any material respect of the Investment Policies if the effect of such modification, supplement or waiver is that the permitted investment size of the Portfolio Investments
proportionately increases as the size of the Borrower’s capital base changes; (ii) modify, supplement or waive in any material respect the Valuation Policy (other than any modification, supplement or waiver (w) required under GAAP,
(x) required by any applicable law, rule or regulation or Governmental Authority, or (y) when taken as a whole is not materially adverse to the Lenders when compared to its Valuation Policy in effect as of the Original Effective Date),
(iii) fail to comply with the Valuation Policy in any material respect, or (iv) fail to comply with the Investment Policies if such failure would reasonably be expected to result in a Material Adverse Effect, and in the case of
subclauses (iii) and (iv) of this clause (r), such failure shall continue unremedied for a period of thirty (30) or more days after the earlier of notice thereof by the Administrative Agent (given at the request of any Lender) to
the Borrower or knowledge thereof by a Financial Officer; 
 then, and in every such event (other than an event with respect to the Borrower described in
clause (i) or (j) of this Article), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Borrower, take either or both of the
following actions, at the same or different times: (i) terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which
case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other
obligations of the Borrower accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; and in case of any event with respect to the
Borrower described in clause (i) or (j) of this Article, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the
Borrower accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower. 

In the event that the Loans shall be declared, or shall become, due and payable pursuant to the immediately preceding paragraph then, upon
notice from the Administrative Agent or Lenders with LC Exposure representing more than 50% of the total LC Exposure of a Class of Commitments demanding the deposit of cash collateral pursuant to this paragraph, the Borrower shall promptly, but in
any event within three (3) Business Days of receipt of notice, deposit into the Letter of Credit Collateral Account cash in an amount equal to the LC Exposure of such Class as of such date plus any accrued and unpaid interest thereon;
provided that the obligation to deposit such cash shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with
respect to the Borrower described in clause (i) or (j) of this Article. 

  
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 ARTICLE VIII 

THE ADMINISTRATIVE AGENT 

SECTION 8.01. The Administrative Agent. 

Each of the Lenders and the Issuing Banks hereby irrevocably appoints the Administrative Agent as its agent hereunder and under the other Loan
Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably
incidental thereto. 
 Each of the Lenders and the Issuing Banks hereby irrevocably appoints the Collateral Agent as the collateral agent
hereunder and under the other Loan Documents and authorizes the Collateral Agent to have all the rights and benefits hereunder and thereunder (including Section 9 of the Guarantee and Security Agreement), and to take such actions on its behalf
and to exercise such powers as are delegated to the Collateral Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. 

The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender
and may exercise the same as though it were not the Administrative Agent, and the term “Lender” or “Lenders” shall, unless the context otherwise indicates, include the Administrative Agent in its individual capacity. Such Person
and its Affiliates may (without having to account therefor to any other Lender) accept deposits from, lend money to and generally engage in any kind of banking, trust or other business with any of the Obligors (or any Subsidiary or other Affiliate
thereof) as if it were not the Administrative Agent hereunder, and such Person and its Affiliates may accept fees and other consideration from any of the Obligors or other Affiliate thereof for services in connection with this Agreement or otherwise
without having to account for the same to the other Lenders. 
 The Administrative Agent shall not have any duties or obligations except
those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has
occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan
Documents that the Administrative Agent is required to exercise in writing by the Required Lenders, and (c) except as expressly set forth herein and in the other Loan Documents, the Administrative Agent shall not have any duty to disclose, and
shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Subsidiaries that is communicated to or obtained by the Person serving as Administrative Agent or any of its Affiliates in any capacity. The
Administrative Agent shall not be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other
Loan Documents) or in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent by the
Borrower or a Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document,
(ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions
set forth herein or therein, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in
Article IV or elsewhere herein or therein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 

  
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 The Administrative Agent shall be entitled to rely upon, and shall not incur any liability
for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have
been signed or sent by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person, and shall not incur any liability for relying thereon. The
Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any
such counsel, accountants or experts. 
 The Administrative Agent may perform any and all its duties and exercise its rights and powers by
or through any one (1) or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers through their respective Related Parties. The
exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of
the credit facilities provided for herein as well as activities as Administrative Agent. The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction
determines in a final and non-appealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agents. 

The Administrative Agent may resign at any time by notifying the Lenders, the Issuing Banks and the Borrower. Upon any such resignation, the
Required Lenders shall have the right, with the consent of the Borrower not to be unreasonably withheld (or, if an Event of Default has occurred and is continuing in consultation with the Borrower), to appoint a successor, which is not a natural
person, a Defaulting Lender or a Disqualified Lender. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within thirty (30) days after the retiring Administrative Agent gives notice of
its resignation, then the retiring Administrative Agent’s resignation shall nonetheless become effective (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders or the Issuing Banks under
any of the Loan Documents, the retiring or removed Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (1) the retiring Administrative Agent shall be
discharged from its duties and obligations hereunder and (2) the Required Lenders shall perform the duties of the Administrative Agent (and all payments and communications provided to be made by, to or through the Administrative Agent shall
instead be made by or to each Lender directly) until such time as the Required Lenders appoint a successor agent as provided for above in this paragraph. Upon the acceptance of its appointment as Administrative Agent hereunder by a successor, such
successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder (if
not already discharged therefrom as provided above in this paragraph). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such

  
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successor. After the Administrative Agent’s resignation hereunder, the provisions of this Article and Section 9.03 shall continue in effect for its benefit in respect of any actions
taken or omitted to be taken by it while it was acting as Administrative Agent. Any resignation by Truist Bank as Administrative Agent pursuant to this Section shall also constitute its resignation as an Issuing Bank and a Swingline Lender. Upon the
acceptance of a successor’s appointment as Administrative Agent hereunder, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring Issuing Bank and Swingline Lender,
(b) the retiring Issuing Bank and Swingline Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan Documents, and (c) the successor Issuing Bank shall issue letters of credit in
substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to the retiring Issuing Bank to effectively assume the obligations of the retiring Issuing Bank with respect to such
Letters of Credit. 
 Each Lender agrees that it has, independently and without reliance upon the Administrative Agent or any other Lender
and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and that it will, independently and without reliance upon the Administrative Agent or any other Lender
and based on such documents and information as it shall from time to time deem appropriate, continue to make its own analysis and decisions in taking or not taking action under or based upon this Agreement and other Loan Documents to which it is a
party. 
 Except as otherwise provided in Section 9.02(b) with respect to this Agreement, the Administrative Agent may, with the prior
consent of the Required Lenders (but not otherwise), consent to any modification, supplement or waiver under any of the Loan Documents, provided that, without the prior consent of each Lender and each Issuing Bank, the Administrative Agent
shall not (except as provided herein or in the Security Documents) release all or substantially all of the Collateral or otherwise terminate all or substantially all of the Liens under any Security Document providing for collateral security, agree
to additional obligations being secured by all or substantially all of such collateral security, or alter the relative priorities of the obligations entitled to the benefits of the Liens created under the Security Documents with respect to all or
substantially all of the Collateral, except that no such consent shall be required, and the Administrative Agent is hereby authorized, to (1) release (which such release shall be automatic and require no further action from any party) any Lien
covering property that is the subject of either a disposition of property not prohibited hereunder or a disposition to which the Required Lenders have consented, (2) release from any Guarantee and Security Agreement any “Subsidiary
Guarantor” (and any property of such Subsidiary Guarantor) in accordance with Section 9.02(c) and (3) spread Liens to any Designated Indebtedness or Hedging Agreement Obligations (as such terms are defined in the Guarantee and
Security Agreement) in accordance with the Guarantee and Security Agreement. 
 SECTION 8.02. Certain ERISA Matters.
(a) Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party
hereto, for the benefit of, the Administrative Agent, and each Joint Lead Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower, that at least one (1) of the following is and will
be true: 

  
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 (i) such Lender is not using “plan assets” (within the meaning of
Section 3(42) of ERISA or otherwise) of one (1) or more Benefit Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments or this
Agreement, 
 (ii) the transaction exemption set forth in one (1) or more PTEs, such as PTE 84-14 (a class exemption for
certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions
involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers),
is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, 

(iii) (A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning
of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Letters of Credit, the Commitments and this
Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements of subsections (b) through (g) of Part I of PTE
84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans,
the Letters of Credit, the Commitments and this Agreement, or 
 (iv) such other representation, warranty and covenant as may
be agreed in writing between the Administrative Agent, in its sole discretion, and such Lender. 
 (b) In addition, unless subclause (i)
in the immediately preceding clause (a) is true with respect to a Lender or a Lender has not provided another representation, warranty and covenant as provided in subclause (iv) in the immediately preceding clause (a), such Lender
further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the
benefit of, the Administrative Agent and each Joint Lead Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower, that none of the Administrative Agent, or any Joint Lead Arranger or any
of their respective Affiliates is a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this
Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto). 

  
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 SECTION 8.03. Erroneous Payments. 

(a) If the Administrative Agent notifies a Lender, Issuing Bank or Secured Party, or any Person who has received funds on behalf of a
Lender, Issuing Bank or Secured Party (any such Lender, Issuing Bank, Secured Party or other recipient, a “Payment Recipient”) that the Administrative Agent has determined in its sole discretion (whether or not after receipt of
any notice under the immediately succeeding clause (b)) that any funds received by such Payment Recipient from the Administrative Agent or any of its Affiliates were erroneously transmitted to, or otherwise erroneously or mistakenly received by,
such Payment Recipient (whether or not known to such Lender, Issuing Bank, Secured Party or other Payment Recipient on its behalf) (any such funds, whether received as a payment, prepayment or repayment of principal, interest, fees, distribution or
otherwise, individually and collectively, an “Erroneous Payment”) and demands the return of such Erroneous Payment (or a portion thereof), such Erroneous Payment shall at all times remain the property of the Administrative Agent and
shall be segregated by the Payment Recipient and held in trust for the benefit of the Administrative Agent (provided that ING Capital LLC shall not be required to segregate any Erroneous Payment received by it) and such Lender, Issuing Bank or
Secured Party shall (or, with respect to any Payment Recipient who received such funds on its behalf, shall cause such Payment Recipient to) promptly, but in no event later than two Business Days thereafter, return to the Administrative Agent the
amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same day funds (in the currency so received), together with interest thereon in respect of each day from and including the date such Erroneous Payment
(or portion thereof) was received by such Payment Recipient to the date such amount is repaid to the Administrative Agent in same day funds at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in
accordance with banking industry rules on interbank compensation from time to time in effect. A notice of the Administrative Agent to any Payment Recipient under this clause (a) shall be conclusive, absent manifest error. 

(b) Without limiting the immediately preceding clause (a), each Lender, Issuing Bank or Secured Party, or any other Payment Recipient who has
received funds on behalf of a Lender, Issuing Bank or Secured Party, hereby further agrees that if it receives a payment, prepayment or repayment (whether received as a payment, prepayment or repayment of principal, interest, fees, distribution
or otherwise) from the Administrative Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date from, that specified in a notice of payment, prepayment or repayment sent by the Administrative Agent (or any
of its Affiliates) with respect to such payment, prepayment or repayment, (y) that was not preceded or accompanied by a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates), or (z) that
such Lender, Issuing Bank or Secured Party, or other such Payment Recipient, otherwise becomes aware was transmitted, or received, in error or by mistake (in whole or in part) in each case: 

(i) (A) in the case of the immediately preceding clause (x) or (y), an error shall be presumed to have been made (absent
written confirmation from the Administrative Agent to the contrary) or (B) in the case of the immediately preceding clause (z), an error has been made, in each case, with respect to such payment, prepayment or repayment; and 

(ii) such Lender, Issuing Bank or Secured Party shall (and shall cause any Payment Recipient that receives funds on its
respective behalf to) promptly (and, in all events, within one Business Day of its knowledge of such error) notify the Administrative Agent of its receipt of such payment, prepayment or repayment, the details thereof (in reasonable detail) and that
it is so notifying the Administrative Agent pursuant to this Section 8.03(b). 

  
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 (c) Each Lender, Issuing Bank or Secured Party hereby authorizes the Administrative Agent to
set off, net and apply any and all amounts at any time owing to such Lender, Issuing Bank or Secured Party under any Loan Document, or otherwise payable or distributable by the Administrative Agent to such Lender, Issuing Bank or Secured Party from
any source, against any amount due to the Administrative Agent under the immediately preceding clause (a) or under the indemnification provisions of this Agreement. 

(d) In the event that an Erroneous Payment (or portion thereof) is not recovered by the Administrative Agent for any reason, after demand
therefor by the Administrative Agent in accordance with the immediately preceding clause (a), from any Lender or Issuing Bank that has received such Erroneous Payment (or portion thereof) (and/or from any Payment Recipient who received such
Erroneous Payment (or portion thereof) on its respective behalf) (such unrecovered amount, an “Erroneous Payment Return Deficiency”), upon the Administrative Agent’s notice to such Lender or Issuing Bank at any time,
(i) such Lender or Issuing Bank shall be deemed to have assigned its Loans (but not its Commitments) of the relevant Class with respect to which such Erroneous Payment was made (the “Erroneous Payment Impacted Class”) in an
amount equal to the Erroneous Payment Return Deficiency (or such lesser amount as the Administrative Agent may specify) (such assignment of the Loans (but not Commitments) of the Erroneous Payment Impacted Class, the “Erroneous Payment
Deficiency Assignment”) at par plus any accrued and unpaid interest (with the assignment fee to be waived by the Administrative Agent in such instance), and is hereby (together with the Borrower) deemed to execute and deliver an Assignment
and Assumption (or, to the extent applicable, an agreement incorporating an Assignment and Assumption by reference pursuant to an electronic transmission system to which the Administrative Agent and such parties are participants) with respect to
such Erroneous Payment Deficiency Assignment, and such Lender or Issuing Bank shall deliver any promissory notes evidencing such Loans to the Borrower or the Administrative Agent, (ii) the Administrative Agent as the assignee Lender shall be
deemed to acquire the Erroneous Payment Deficiency Assignment, (iii) upon such deemed acquisition, the Administrative Agent as the assignee Lender shall become a Lender or Issuing Bank, as applicable, hereunder with respect to such Erroneous
Payment Deficiency Assignment and the assigning Lender or assigning Issuing Bank shall cease to be a Lender or Issuing Bank, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment, excluding its obligations under the
indemnification provisions of this Agreement and its applicable Commitments which shall survive as to such assigning Lender or assigning Issuing Bank, and (iv) the Administrative Agent may reflect in the Register its ownership interest in the
Loans subject to the Erroneous Payment Deficiency Assignment. Subject to Section 9.04(b), the Administrative Agent may, in its discretion, sell any Loans acquired pursuant to an Erroneous Payment Deficiency Assignment, and, upon receipt of the
proceeds of such sale, the Erroneous Payment Return Deficiency owing by the applicable Lender or Issuing Bank shall be reduced by the net proceeds of the sale of such Loan (or portion thereof), and the Administrative Agent shall retain all other
rights, remedies and claims against such Lender or Issuing Bank (and/or against any Payment Recipient that receives funds on its respective behalf). No Erroneous Payment Deficiency Assignment will reduce the Commitments of any Lender or Issuing Bank
and such Commitments shall remain available in accordance with the terms of this Agreement. In 

  
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addition, each party hereto agrees that, except to the extent that the Administrative Agent has sold a Loan (or portion thereof) acquired pursuant to an Erroneous Payment Deficiency Assignment,
and irrespective of whether the Administrative Agent may be equitably subrogated, the Administrative Agent shall be contractually subrogated to all the rights and interests of the applicable Lender, Issuing Bank or Secured Party under the Loan
Documents with respect to each Erroneous Payment Return Deficiency (the “Erroneous Payment Subrogation Rights”). 
 (e) The
parties hereto agree that an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Secured Obligations owed by the Borrower or any other Obligor; provided that this Section 8.03 shall not be interpreted to increase
(or accelerate the due date for), or have the effect of increasing (or accelerating the due date for), the Secured Obligations of the Borrower relative to the amount (and/or timing for payment) of the Secured Obligations that would have been payable
had such Erroneous Payment not been made by the Administrative Agent; provided, further, that for the avoidance of doubt, Section 8.03(d) and this Section 8.03(e) shall not apply to the extent such Erroneous Payment is, and solely with
respect to the amount of such Erroneous Payment that is, comprised of funds received by the Administrative Agent or applicable Lender, Issuing Bank or Secured Party from the Borrower or any other Obligor for the purpose of making payment in respect
of the Secured Obligations. 
 (f) To the extent permitted by applicable law, no Payment Recipient shall assert any right or claim to an
Erroneous Payment, and hereby waives, and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim by the Administrative Agent for the return of any Erroneous Payment
received, including, without limitation, waiver of any defense based on “discharge for value” or any similar doctrine. 
 (g) Each
party’s obligations, agreements and waivers under this Section 8.03 shall survive the resignation or replacement of the Administrative Agent, any transfer of rights or obligations by, or the replacement of, a Lender or Issuing Bank, the
termination of the Commitments and/or the repayment, satisfaction or discharge of all Secured Obligations (or any portion thereof) (other than Unasserted Contingent Obligations) under any Loan Document. 

ARTICLE IX 

MISCELLANEOUS 
 SECTION
9.01. Notices; Electronic Communications. 
 (a) Notices Generally. Except in the case of notices and other communications
expressly permitted to be given by telephone, all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy or
e-mail, as follows: 
 (i) if to the Borrower, to it at Owl Rock Capital Corporation, 399 Park Avenue, 38th Floor, New York,
NY 10022; with a copy, which shall not constitute notice, to it at accounting@blueowl.com; OwlRockBDC_Accounting@statestreet.com (Telephone No. (212) 651-4782); with a copy, which shall not constitute notice, to Dechert LLP, 1095 Avenue of the
Americas, New York, New York 10036, Attention of Jay R. Alicandri, Esq. (Telephone No. (212) 698-3800; E-mail jay.alicandri@dechert.com); 

  
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 (ii) if to the Administrative Agent, to Truist Bank, 3333 Peachtree Road, 8th Floor, Atlanta, Georgia 30326, Attention of Hays Wood (Telephone No. (404) 836-5879); Fax No. (404) 836-5879; with a copy to Truist Bank, Agency Services, 303 Peachtree Street, N.E., 25th Floor, Atlanta, Georgia 30308, Attention of Karen Weich, Email: agency.services@truist.com; 

(iii) if to an Issuing Bank or a Swingline Lender, to it at its address (or telecopy number or e-mail address) set forth in its
Administrative Questionnaire; and 
 (iv) if to any Lender, to it at its address (or telecopy number or e-mail address) set
forth in its Administrative Questionnaire. 
 Any party hereto may change its address, telecopy number or e-mail address for notices and other
communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt. Notices
delivered through electronic communications to the extent provided in paragraph (b) below, shall be effective as provided in said paragraph (b). 

(b) Electronic Communications. Notices and other communications to the Lenders and the Issuing Banks hereunder may be delivered or
furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to
notices to any Lender or any Issuing Bank pursuant to Section 2.03 if such Lender or such Issuing Bank, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic
communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of
such procedures may be limited to particular notices or communications. Unless otherwise notified by the Administrative Agent to the Borrower, the Borrower may satisfy its obligation to deliver documents or notices to the Administrative Agent or the
Lenders under Sections 5.01 and 5.12(a) by delivering an electronic copy to: hays.wood@truist.com with a copy to agency.services@truist.com (or such other e-mail address as provided to the Borrower in a
notice from the Administrative Agent) (and the Administrative Agent shall promptly provide notice thereof to the Lenders). 
 Unless the
Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended
recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if such notice or other communication is not sent
during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient, and (ii) notices or communications posted to an Internet or
intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication
is available and identifying the website address therefor. 

  
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 In no event shall the Administrative Agent or any Lender have any liability to the Borrower
or any other Person for damages of any kind (whether in tort contract or otherwise) arising out of any transmission of communications through the internet, except in the case of direct damages, to the extent such damages are determined by a court of
competent jurisdiction by final and nonappealable judgment to have resulted from the bad faith, fraud, willful misconduct or gross negligence of such relevant Person. 

(c) Documents to be Delivered under Sections 5.01 and 5.12(a). For so long as an IntralinksTM or equivalent website is
available to each of the Lenders hereunder, the Borrower may satisfy its obligation to deliver documents to the Administrative Agent or the Lenders under Sections 5.01 and 5.12(a) by delivering either an electronic copy to: hays.wood@truist.com
with a copy to agency.services@truist.com (as provided in clause (b) above) or a notice identifying the website where such information is located for posting by the Administrative Agent on IntralinksTM or such equivalent website,
provided that the Administrative Agent shall have no responsibility to maintain access to IntralinksTM or an equivalent website. 

SECTION 9.02. Waivers; Amendments. 

(a) No Deemed Waivers; Remedies Cumulative. No failure or delay by the Administrative Agent, any Issuing Bank or any Lender in
exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or
further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Issuing Banks and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies that they would
otherwise have. No waiver of any provision of this Agreement or consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 9.02, and then such
waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of
any Default, regardless of whether the Administrative Agent, any Lender or any Issuing Bank may have had notice or knowledge of such Default at the time. 

(b) Amendments to this Agreement. Except as provided in Section 2.13(b) and the definition of “Modification Offer”,
neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders or by the Borrower and the Administrative Agent with
the consent of the Required Lenders; provided that no such agreement shall: 
 (i) increase the Commitment of any
Lender without the written consent of such Lender, 

  
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 (ii) reduce the principal amount of any Loan or LC Disbursement or reduce
the rate of interest thereon (other than the application of any interest accrued pursuant to Section 2.12(d)), or reduce any fees payable hereunder, without the written consent of each Lender affected thereby, 

(iii) postpone the scheduled date of payment of the principal amount of any Loan or LC Disbursement, or any interest thereon,
or any fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender directly affected thereby, 

(iv) change Section 2.17(b), (c) or (d) in a manner that would alter the pro rata sharing of payments required
thereby without the written consent of each Lender directly adversely affected thereby, 
 (v) change any of the provisions
of this Section 9.02 or the definition of the term “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or
grant any consent hereunder, without the written consent of each Lender affected thereby, or 
 (vi) change
Section 9.21 without the written consent of each Lender (if any) that is subject to the GBSA; 
 provided further that (x) no such
agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent, any Issuing Bank or the Swingline Lender hereunder without the prior written consent of the Administrative Agent, such Issuing Bank or the Swingline
Lender, as the case may be, (y) the consent of each Multicurrency Lender will be required for any change to the definition of “Agreed Foreign Currency” and (z) the consent of Lenders holding not less than two-thirds
(2/3rds) of the Credit Exposure and unused Commitments will be required for (A) any adverse changes (from the Lenders’ perspective) affecting the provisions of this Agreement solely relating to the calculation of the Borrowing Base
(excluding changes to the provisions of Section 5.12(b)(iii) or (iv), but including changes to the provisions of Section 5.12(c) and the definitions set forth in Section 5.13) unless otherwise expressly provided herein and
(B) any release of material portions of the Collateral other than for fair value or as otherwise not prohibited hereunder or under the other Loan Documents. 

For purposes of this Section 9.02, the “scheduled date of payment” of any amount shall refer to the date of payment of such
amount specified in this Agreement, and shall not refer to a date or other event specified for the mandatory or optional prepayment of such amount. In addition, whenever a waiver, amendment or modification requires the consent of a Lender
“affected” thereby, such waiver, amendment or modification shall, upon consent of such Lender, become effective as to such Lender whether or not it becomes effective as to any other Lender, so long as the Required Lenders consent to such
waiver, amendment or modification as provided above. 
 Anything in this Agreement to the contrary notwithstanding (x) no waiver or
modification of any provision of this Agreement or any other Loan Document that could reasonably be expected to adversely affect the Lenders of any Class in a manner that does not affect all Classes equally shall be effective against the Lenders of
such Class unless the Required Lenders of such Class 

  
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shall have concurred with such waiver, amendment or modification as provided above; provided, however, for the avoidance of doubt, in no other circumstances shall the concurrence of
the Required Lenders of a particular Class be required for any waiver, amendment or modification of any provision of this Agreement or any other Loan Document; and (y) the Required Lenders may waive any condition precedent to an extension of
credit under the Revolving Commitments (other than as required by Section 4.02) (which, for the avoidance of doubt, shall not constitute a waiver of any ongoing or resulting Default or Event of Default). Anything in this Agreement to the
contrary notwithstanding, this Agreement may be amended by the Borrower with the consent of the Administrative Agent and any Non-Extending Lender (but without the consent of the Required Lenders) for the sole purpose of extending the Commitments of
such Non-Extending Lender so that such Non-Extending Lender becomes an Extending Lender hereunder. Any Non-Extending Lender that has had all of its obligations under this Agreement and each other Loan Document paid in full shall cease to be a Lender
under the Loan Documents except with respect to any provision that expressly survives the termination of a Loan Document. 
 (c)
Amendments to Security Documents. Except to the extent otherwise expressly set forth in the Guarantee and Security Agreement or the other Loan Documents, no Security Document nor any provision thereof may be waived, amended or modified, nor
may the Liens granted under the Guarantee and Security Agreement be spread to secure any additional obligations (excluding (x) any increase in the Loans and Letters of Credit hereunder pursuant to a Commitment Increase under
Section 2.08(e), (y) any increase in any Other Secured Indebtedness or Shorter Term Secured Indebtedness permitted hereunder and (z) the spreading of such Liens to any Designated Indebtedness or Hedging Agreement Obligations (as
defined in the Guarantee and Security Agreement) as provided for in the Guarantee and Security Agreement), except pursuant to an agreement or agreements in writing entered into by the Borrower, and by the Collateral Agent with the consent of the
Required Lenders; provided that, (i) except as otherwise expressly permitted by the Loan Documents, without the written consent of each Lender and each Issuing Bank, no such agreement shall release all or substantially all of the
Obligors from their respective obligations under the Security Documents and (ii) except as otherwise expressly permitted by the Loan Documents, without the written consent of each Lender and each Issuing Bank, no such agreement shall release
all or substantially all of the collateral security or otherwise terminate all or substantially all of the Liens under the Security Documents, alter the relative priorities of the obligations entitled to the Liens created under the Security
Documents (except in connection with securing additional obligations equally and ratably with the Loans and other obligations hereunder) with respect to all or substantially all of the collateral security provided thereby, except that no such
consent shall be required, and the Administrative Agent is hereby authorized (and so agrees with the Borrower) to direct the Collateral Agent under the Guarantee and Security Agreement to, and in addition to the rights of such parties under the
Guarantee and Security Agreement, the Administrative Agent and the Collateral Agent under the Guarantee and Security Agreement may, (1) release any Lien covering property (and to release any such guarantor) that is the subject of either a
disposition of property not prohibited hereunder (including, without limitation, any property subject to a participation or repurchase transaction) or a disposition to which the Required Lenders or the required number or percentage of Lenders have
consented (and such Lien shall be released automatically (A) to the extent provided in Section 10.03 of the Guarantee and Security Agreement and (B) to the extent permitted hereunder in connection with any property becoming subject to
a participation or repurchase transaction), and (2) release from the Guarantee and Security Agreement any “Subsidiary Guarantor” (and any property of such Subsidiary Guarantor) 

  
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that is designated as a “Designated Subsidiary” or becomes an Excluded Asset or an Immaterial Subsidiary in accordance with this Agreement or is otherwise no longer required to be a
“Subsidiary Guarantor” (including, without limitation, because it ceases to be consolidated on the Borrower’s financial statements), so long as immediately after giving effect to any such release under this clause (2) and any
Concurrent Transactions, (A) the Covered Debt Amount does not exceed the Borrowing Base and the Borrower delivers a certificate of a Financial Officer to such effect to the Administrative Agent, (B) either (I) the amount of any excess
availability under the Borrowing Base immediately prior to such release is not diminished as a result of such release or (II) the Adjusted Gross Borrowing Base immediately after giving effect to such release is at least 110% of the Covered Debt
Amount and (C) no Event of Default has occurred and is continuing. 
 (d) Replacement of Non-Consenting Lender. If, in
connection with any proposed change, waiver, amendment, consent, discharge or termination to any of the provisions of this Agreement as contemplated by this Section 9.02, the consent of one (1) or more Lenders whose consent is required for
such proposed change, waiver, amendment, consent, discharge or termination is not obtained, then (so long as no Event of Default has occurred and is continuing) the Borrower shall have the right, at its sole cost and expense, to replace each such
non-consenting Lender or Lenders with one (1) or more replacement Lenders pursuant to Section 2.19(b) so long as at the time of such replacement, each such replacement Lender consents to the proposed change, waiver, discharge, termination
or addition. 
 (e) If the Administrative Agent and the Borrower acting together identify any ambiguity, omission, mistake, typographical
error or other defect in any provision of this Agreement or any other Loan Document, then the Administrative Agent and the Borrower shall be permitted to amend, modify or supplement such provision to cure such ambiguity, omission, mistake,
typographical error or other defect, and such amendment shall become effective without any further action or consent of any other party to this Agreement. 

SECTION 9.03. Expenses; Indemnity; Damage Waiver. 

(a) Costs and Expenses. The Borrower shall pay (i) all reasonable and documented out-of-pocket expenses incurred by the
Administrative Agent and its Affiliates (with respect to legal fees, limited to the reasonable and documented out-of-pocket fees, charges and disbursements of one (1) outside counsel for the Administrative Agent and its Affiliates collectively
plus, if necessary, one (1) single local counsel per appropriate jurisdiction), in connection with the syndication of the credit facilities provided for herein, the preparation and administration of this Agreement and the other Loan Documents
or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), subject to any limitation previously agreed in writing, (ii) all reasonable
and documented out-of-pocket expenses incurred by any Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder, (iii) all reasonable and documented out-of-pocket
expenses incurred by the Administrative Agent, any Issuing Bank or any Lender (with respect to legal fees, limited to the reasonable and documented out-of-pocket fees, charges and disbursements of one (1) outside legal counsel plus, if
necessary, one (1) local counsel per appropriate jurisdiction plus, in the case of an actual or perceived conflict of interest or separate defenses available to indemnified parties that are different from those available to other indemnified
parties, one (1) additional 

  
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counsel per group of affected parties), in connection with the enforcement or protection of its rights in connection with this Agreement and the other Loan Documents, including its rights under
this Section 9.03(a), or in connection with the Loans made or Letters of Credit issued hereunder, including all such documented out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or
Letters of Credit and (iv) all reasonable and documented out-of-pocket costs, expenses, taxes, assessments and other charges incurred in connection with any filing, registration, recording or perfection of any security interest contemplated by
any Security Document or any other document referred to therein. 
 (b) Indemnification by the Borrower. The Borrower shall indemnify
the Administrative Agent, the Issuing Banks, the Collateral Agent, the Lead Arrangers and each Lender, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each
Indemnitee harmless from, any and all losses, claims, damages, liabilities, and related expenses (other than Taxes or Other Taxes which shall only be indemnified by the Borrower to the extent provided in Section 2.16) (with respect to legal
fees, limited to the reasonable and documented out-of-pocket fees, charges and disbursements of one (1) outside legal counsel plus, if necessary, one (1) local counsel per appropriate jurisdiction plus, in the case of an actual or
perceived conflict of interest or separate defenses available to indemnified parties that are different from those available to the Borrower or other indemnified parties, one (1) additional counsel per group of affected parties), incurred by or
asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of any Loan Document or any agreement or instrument contemplated thereby, the performance by the parties hereto of their
respective obligations hereunder or the consummation of the Transactions or any other transactions contemplated hereby, (ii) any Loan or Letter of Credit or the use of the proceeds therefrom (including any refusal by any Issuing Bank to honor a
demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or prospective claim, litigation, investigation or
proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto or (iv) any damages arising from the use by unintended recipients of any information or
other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby; provided that such
indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from
(x) the bad faith, fraud, willful misconduct or gross negligence of such Indemnitee, (y) a claim brought against such Indemnitee for material breach in bad faith of such Indemnitee’s obligations under this Agreement or the other Loan
Documents, if there has been a final and nonappealable judgment against such Indemnitee on such claim as determined by a court of competent jurisdiction or (z) a claim arising as a result of a dispute between Indemnitees (other than
(A) any dispute involving claims against the Administrative Agent, the applicable Issuing Bank, any Joint Lead Arranger or any Lender, in each case in their respective capacities as such, and (B) claims arising out of any act or omission
by the Borrower or its Affiliates). 

  
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 The Borrower shall not be liable to any Indemnitee for any special, indirect, consequential
or punitive damages arising out of, in connection with, or as a result of the Transactions asserted by an Indemnitee against the Borrower or any other Obligor, provided that the foregoing limitation shall not be deemed to impair or affect the
obligations of the Borrower under the preceding provisions of this subsection. 
 (c) Reimbursement by Lenders. To the extent that
the Borrower fails to pay any amount required to be paid by it to the Administrative Agent, any Issuing Bank or any Swingline Lender under paragraph (a) or (b) of this Section 9.03, (i) each Lender severally agrees to pay to the
Administrative Agent and such Issuing Bank, as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount and (ii) each
Multicurrency Lender severally agrees to pay to the applicable Swingline Lender such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity is sought); provided that the
unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent, such Issuing Bank or such Swingline Lender in its capacity as such. 

(d) Waiver of Consequential Damages, Etc. To the extent permitted by applicable law, no party hereto shall assert, and each party
hereto hereby waives, any claim against any other party (or any Related Party to such party), on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection
with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof; provided that nothing contained in this
sentence shall limit the Borrower’s indemnification obligations under Section 9.03 to the extent such special, indirect consequential or punitive damages are included in any third party claim in connection with which any Indemnitee is
entitled to indemnification thereunder. 
 (e) Payments. All amounts due under this Section 9.03 shall be payable promptly after
written demand therefor. 
 SECTION 9.04. Successors and Assigns. 

(a) Assignments Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and assigns permitted hereby (including any Affiliate of any Issuing Bank that issues any Letter of Credit), except that (i) the Borrower may not assign or otherwise transfer any of its rights or obligations
hereunder without the prior written consent of the Administrative Agent and each Lender (and any attempted assignment or transfer by the Borrower without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer
its rights or obligations hereunder except in accordance with this Section 9.04 (and any attempted assignment or transfer by any Lender which is not in accordance with this Section 9.04 shall be treated as provided in the last sentence of
Section 9.04(b)(iii)). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby (including any Affiliate of any
Issuing Bank that issues any Letter of Credit) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the Issuing Banks and the Lenders) any legal or equitable right, remedy or claim under or by
reason of this Agreement. 

  
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 (b) Assignments by Lenders. 

(i) Assignments Generally. Subject to the conditions set forth in clause (ii) below, any Lender may assign to
one (1) or more assignees other than a Disqualified Lender all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans and LC Exposure at the time owing to it) with the prior
written consent (such consent not to be unreasonably withheld or delayed) of: 
 (A) the Borrower, provided that the
Borrower shall be deemed to have consented to any such assignment (other than to a Disqualified Lender) unless it has objected thereto by written notice to the Administrative Agent within ten (10) Business Days after receiving written notice
thereof; provided further that no consent of the Borrower shall be required for an assignment to a Lender, an Affiliate of a Lender with credit ratings at least as good as the assigning Lender, or, if an Event of Default has occurred and is
continuing under Section 7.01(a), (b), (i), (j), or (k), any other assignee; and 

(B) the Administrative Agent and, in the case of an assignment of Revolving Commitments, the Issuing Banks. 

(ii) Certain Conditions to Assignments. Assignments shall be subject to the following additional conditions: 

(A) except in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire remaining amount
of the assigning Lender’s Commitment or Loans and LC Exposure of a Class, the amount of the Commitment or Loans and LC Exposure of such Class of the assigning Lender subject to each such assignment (determined as of the date the Assignment and
Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than U.S. $5,000,000 unless each of the Borrower and the Administrative Agent otherwise consent; 

(B) each partial assignment of any Class of Commitments or Loans and LC Exposure shall be made as an assignment of a
proportionate part of all the assigning Lender’s rights and obligations under this Agreement in respect of such Class of Commitments, Loans and LC Exposure; 

(C) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together
with a processing and recordation fee of U.S. $3,500 (which fee shall not be payable in connection with an assignment to a Lender or to an Affiliate of a Lender) (for which no Obligor shall be obligated); and 

(D) the assignee, if it shall not already be a Lender of the applicable Class, shall deliver to the Administrative Agent an
Administrative Questionnaire. 

  
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 (iii) Effectiveness of Assignments. Subject to acceptance and
recording thereof pursuant to paragraph (c) of this Section 9.04, from and after the effective date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by
such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations
under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the
benefits of Sections 2.14, 2.15, 2.16 and 9.03 with respect to facts and circumstances occurring prior to the effective date of such assignment). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not
comply with this Section 9.04 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (e) of this Section 9.04. 

(c) Maintenance of Registers by Administrative Agent. The Administrative Agent, acting solely for this purpose as a non-fiduciary agent
of the Borrower, shall maintain at one (1) of its offices in New York City a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and
principal amounts of the Loans and LC Disbursements owing to, each Lender pursuant to the terms hereof from time to time (the “Registers” and each individually, a “Register”). The entries in the Registers shall be
conclusive absent manifest error, and the Borrower, the Administrative Agent, the Issuing Banks and the Lenders may treat each Person whose name is recorded in the Registers pursuant to the terms hereof as a Lender hereunder for all purposes of this
Agreement, notwithstanding notice to the contrary. The Registers shall be available for inspection by the Borrower, any Issuing Bank and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 

(d) Acceptance of Assignments by Administrative Agent. Upon its receipt of a duly completed Assignment and Assumption executed by an
assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this Section 9.04
and any written consent to such assignment required by paragraph (b) of this Section 9.04, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register. No assignment
shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. 
 (e)
Participations. Any Lender may, with the consent of the Borrower, sell participations to one (1) or more banks or other entities other than a Disqualified Lender (which restriction to sell to Disqualified Lenders shall not apply only if
the list of Disqualified Lenders has not been made available to such Lender selling participations within five (5) Business Days of written request by such Lender to the Administrative Agent and the Borrower) (a “Participant”)
in all or a portion of such Lender’s rights and obligations under this Agreement and the other Loan Documents (including all or a portion of its Commitments and the Loans and LC Disbursements owing to it); provided that (i) such
Lender’s obligations under this Agreement and the other Loan Documents shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the
Borrower, the Administrative Agent, the Issuing Banks and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement and the other Loan Documents.
Any agreement or instrument pursuant to which a Lender sells such a 

  
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participation shall provide that such Lender shall retain the sole right to enforce this Agreement and the other Loan Documents and to approve any amendment, modification or waiver of any
provision of this Agreement or any other Loan Document; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the
first proviso to Section 9.02(b) that affects such Participant. Subject to paragraph (f) of this Section 9.04, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.14, 2.15 and 2.16 to the
same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section 9.04 (subject to the requirements and limitations therein, including the requirements under Sections 2.16(f),
(g) and (h) (it being understood that the documentation required under these paragraphs shall be delivered to the participating Lender)). Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use
reasonable efforts to cooperate with the Borrower to effectuate the provisions of Section 2.19 with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 9.08 as
though it were a Lender, provided such Participant agrees to be subject to Section 2.16(e) as though it were a Lender hereunder. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the
Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Commitments or other obligations under the Loan Documents (the
“Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a
Participant’s interest in any commitments, loans or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan or other obligation is in registered
form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant
Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. 
 (f)
Limitations on Rights of Participants. A Participant shall not be entitled to receive any greater payment under Section 2.14, 2.15 or 2.16 than the applicable Lender would have been entitled to receive with respect to the participation
sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower’s prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of
Section 2.16 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 2.16 as though it were a Lender and the applicable Lender shall
provide the Borrower with satisfactory evidence that the participation is in registered form and shall permit the Borrower to review such register as reasonably needed for the Borrower to comply with its obligations under applicable laws and
regulations. Each Participant agrees to be subject to the provisions of Section 2.19 as if it were an assignee under paragraph (b) of this Section 9.04. 

(g) Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this
Agreement to secure obligations of such Lender, including any such pledge or assignment to a Federal Reserve Bank or any other central bank having jurisdiction over such Lender, and this Section 9.04 shall not apply to any such pledge or
assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such assignee for such Lender as a party hereto. 

  
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 (h) No Assignments to Natural Persons, the Borrower or Affiliates. Anything in this
Section 9.04 to the contrary notwithstanding, no Lender may (i) assign or participate any interest in any Loan or LC Exposure held by it hereunder to any natural person (or a holding company, investment vehicle or trust for, or owned by
and operated for the primary benefit of, a natural person) or to the Borrower or any of its Affiliates or Subsidiaries without the prior consent of each Lender or (ii) assign any interest in any Commitment, Loan or LC Exposure held by it
hereunder to any Person known by such Lender at the time of such assignment to be a Defaulting Lender, a Subsidiary of a Defaulting Lender or a Person who, upon consummation of such assignment, would be a Defaulting Lender. 

SECTION 9.05. Survival. All covenants, agreements, representations and warranties made by the Borrower herein and in the
certificates or other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement and the making of
any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent, any Issuing Bank or any Lender may have had notice or knowledge of any
Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under
this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated. The provisions of Sections 2.14, 2.15, 2.16 and 9.03 and Article VIII shall survive and remain
in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments or the termination of this Agreement or any
provision hereof. 
 SECTION 9.06. Counterparts; Integration; Effectiveness; Electronic Execution. 

(a) Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto on
different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement, the other Loan Documents and any separate letter agreements with respect to fees payable to
the Administrative Agent constitute the entire contract between and among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.
Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear
the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page to this
Agreement by telecopy or electronic communication shall be effective as delivery of a manually executed counterpart of this Agreement. 

  
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 (b) Electronic Execution. The words “execution,” “execute”,
“signed,” “signature,” and words of like import in or related to any document to be signed in connection with this Agreement and the transactions contemplated hereby (including without limitation Assignment and Assumptions,
amendments or other Borrowing Requests, waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms approved by the Administrative Agent (and,
for the avoidance of doubt, electronic signatures utilizing the DocuSign platform shall be deemed approved), or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually
executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York
State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 
 SECTION
9.07. Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without
affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

SECTION 9.08. Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each of its
Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at
any time owing by such Lender or Affiliate to or for the credit or the account of the Borrower against any of and all the obligations of the Borrower now or hereafter existing under this Agreement held by such Lender, irrespective of whether or not
such Lender shall have made any demand under this Agreement and although such obligations may be unmatured. The rights of each Lender under this Section 9.08 are in addition to other rights and remedies (including other rights of setoff) which
such Lender may have; provided that in the event that any Defaulting Lender exercises any such right of setoff, (a) all amounts so set off will be paid over immediately to the Administrative Agent for further application in accordance
with the provisions of Section 2.18 and, pending such payment, will be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders and (b) the Defaulting
Lender will provide promptly to the Administrative Agent a statement describing in reasonable detail the obligations owing to such Defaulting Lender as to which it exercised such right of setoff. Each Lender agrees promptly to notify the Borrower
after any such setoff and application made by such Lender; provided further, that the failure to give such notice shall not affect the validity of such setoff and application. 

SECTION 9.09. Governing Law; Jurisdiction; Etc. 

(a) Governing Law. This Agreement shall be construed in accordance with and governed by the law of the State of New York. 

  
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 (b) Submission to Jurisdiction. Each party to this Agreement hereby irrevocably and
unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York,
and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or the other Loan Documents, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and
unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final
judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Administrative Agent,
any Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to this Agreement against the Borrower or its properties in the courts of any jurisdiction. 

(c) Waiver of Venue. Each party to this Agreement hereby irrevocably and unconditionally waives, to the fullest extent it may legally
and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any court referred to in paragraph (b) of this Section 9.09.
Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(d) Service of Process. Each party to this Agreement (i) irrevocably consents to service of process in the manner provided for
notices in Section 9.01 and (ii) agrees to the extent permitted by applicable law that service as provided in the manner provided for notices in Section 9.01 is sufficient to confer personal jurisdiction over such party in any
proceeding in any court and otherwise constitutes effective and binding service in every respect. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

SECTION 9.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO
(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT
IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.10. 

SECTION 9.11. Judgment Currency. This is an international loan transaction in which the specification of Dollars or any Foreign
Currency, as the case may be (the “Specified Currency”), and payment in New York City or the country of the Specified Currency, as the case may be (the “Specified Place”), is of the essence, and the Specified
Currency shall be the currency of account in all events relating to Loans denominated in the Specified Currency. The payment obligations of the Borrower under this Agreement shall not be discharged or satisfied by an amount 

  
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paid in another currency or in another place, whether pursuant to a judgment or otherwise, to the extent that the amount so paid on conversion to the Specified Currency and transfer to the
Specified Place under normal banking procedures does not yield the amount of the Specified Currency at the Specified Place due hereunder. If for the purpose of obtaining judgment in any court it is necessary to convert a sum due hereunder in the
Specified Currency into another currency (the “Second Currency”), the rate of exchange that shall be applied shall be the rate at which in accordance with normal banking procedures the Administrative Agent could purchase the
Specified Currency with the Second Currency on the Business Day next preceding the day on which such judgment is rendered. The obligation of the Borrower in respect of any such sum due from it to the Administrative Agent or any Lender hereunder or
under any other Loan Document (in this Section 9.11 called an “Entitled Person”) shall, notwithstanding the rate of exchange actually applied in rendering such judgment, be discharged only to the extent that on the Business Day
following receipt by such Entitled Person of any sum adjudged to be due by the Borrower hereunder in the Second Currency such Entitled Person may in accordance with normal banking procedures purchase and transfer to the Specified Place the Specified
Currency with the amount of the Second Currency so adjudged to be due; and the Borrower hereby, as a separate obligation and notwithstanding any such judgment, agrees to indemnify such Entitled Person against, and to pay such Entitled Person on
demand, in the Specified Currency, the amount (if any) by which the sum originally due by the Borrower to such Entitled Person in the Specified Currency hereunder exceeds the amount of the Specified Currency so purchased and transferred. 

SECTION 9.12. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference
only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. None of the Joint Lead Arrangers shall have any responsibility under this Agreement. 

SECTION 9.13. Treatment of Certain Information; Confidentiality. 

(a) Treatment of Certain Information. The Borrower acknowledges that from time to time financial advisory, investment banking and other
services may be offered or provided to the Borrower or one (1) or more of its Subsidiaries (in connection with this Agreement or otherwise) by any Lender or by one (1) or more subsidiaries or affiliates of such Lender and the Borrower
hereby authorizes each Lender to share any information delivered to such Lender by the Borrower and its Subsidiaries pursuant to this Agreement, or in connection with the decision of such Lender to enter into this Agreement, to any such subsidiary
or affiliate, it being understood that any such subsidiary or affiliate receiving such information shall be bound by the provisions of paragraph (b) of this Section 9.13 as if it were a Lender hereunder. Such authorization shall survive
the repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments or the termination of this Agreement or any provision hereof. 

(b) Confidentiality. Each of the Administrative Agent, the Collateral Agent, the Lenders, the Joint Lead Arrangers, the Swingline
Lenders and the Issuing Banks agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (i) to its Affiliates and to its and its Affiliates’ respective partners, directors,
officers, employees, agents, advisors and other representatives who need to know such Information in connection with the transactions contemplated hereby (it being understood that (A) the Persons to whom such disclosure is made will be informed
of the confidential nature of such Information and instructed 

  
 171 

 
to keep such Information confidential to the same extent as provided in this paragraph (b) and (B) it will be responsible for its Affiliates’ compliance with this paragraph),
(ii) to the extent requested by any regulatory authority with competent jurisdiction over it or its Affiliates (including any self-regulatory authority), (iii) to the extent required by applicable laws or regulations or by any subpoena or
similar legal process (provided that, except in the case of any examination by a regulatory, self-regulatory or governmental agency, it will use its commercially reasonable efforts to notify the Borrower of any such disclosure prior to making such
disclosure to the extent permitted by applicable law, rule or regulation), (iv) to any other party hereto or to any rating agency in connection with rating the Borrower or its Subsidiaries or the Loans made to the Borrower, (v) in
connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (vi) subject to an
agreement containing provisions substantially the same as those of this Section 9.13, to (x) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement;
provided that, (a) such Person would be permitted to be an assignee or participant pursuant to the terms hereof and such Person is not a Disqualified Lender, (y) any actual or prospective counterparty (or its advisors) to any swap
or derivative transaction relating to the Borrower and its obligations or (z) any market data service, (vii) with the consent of the Borrower or (viii) to the extent such Information (x) becomes publicly available other than as a
result of a breach of this Section 9.13 or (y) becomes available to the Administrative Agent, any Lender, any Issuing Bank or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower or its
Affiliates and is not actually known by it to be in breach of any other Person’s confidentiality obligations to the Borrower. In addition, the Administrative Agent and each Lender may disclose the existence of this Agreement and information
about this Agreement to market data collectors, similar service providers to the lending industry and service providers to the Administrative Agent or any Lender in connection with the administration or servicing of this Agreement, the other Loan
Documents and the Commitments. 
 For purposes of this Section 9.13, “Information” means all information provided by
the Advisor, the Borrower or any of its Subsidiaries relating to the Borrower or any of its Subsidiaries or any of their respective businesses or any portfolio investment (including Portfolio Investments and including the Value of such Portfolio
Investments), other than any such information that is available to the Administrative Agent, the Collateral Agent, any Lender, any Swingline Lender or any Issuing Bank on a nonconfidential basis prior to disclosure by the Advisor, the Borrower or
any of its Subsidiaries and is not actually known by it to be in breach of any other Person’s confidentiality obligations to the Borrower, provided that, in the case of information received from the Advisor, the Borrower or any of its
Subsidiaries after the Effective Date, such information shall be deemed to be confidential at the time of delivery unless clearly identified therein as nonconfidential. Any Person required to maintain the confidentiality of Information as provided
in this Section 9.13 shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential
information. 
 SECTION 9.14. Certain Notices. Each Lender and the Administrative Agent (for itself and not on behalf of any
Lender) hereby notifies the Borrower and each other Obligor that, pursuant to the requirements of the USA Patriot Act and the Beneficial Ownership Regulation, it is required to obtain, verify and record information that identifies the Borrower and
each other Obligor, which information includes the name and address of each Obligor and other information that will allow such Lender or the Administrative Agent to identify the Obligors in accordance with the USA Patriot Act and the Beneficial
Ownership Regulation. 

  
 172 

 SECTION 9.15. Acknowledgment and Consent to Bail-In of Affected Financial
Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Affected Financial Institution
arising under any Loan Document may be subject to the write-down and conversion powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

(a) the application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder
which may be payable to it by any party hereto that is an Affected Financial Institution; and 
 (b) the effects of any Bail-In Action on
any such liability, including, if applicable: 
 (i) a reduction in full or in part or cancellation of any such liability;

 (ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such Affected
Financial Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such
liability under this Agreement or any other Loan Document; or 
 (iii) the variation of the terms of such liability in
connection with the exercise of the write-down and conversion powers of the applicable Resolution Authority. 
 SECTION 9.16. No
Fiduciary Duty. Each Lender and their Affiliates (collectively, solely for purposes of this paragraph, the “Lenders”), may have economic interests that conflict with those of the Obligors, their respective stockholders and/or their
respective affiliates. Each Obligor agrees that nothing in this Agreement or the Loan Documents or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between any Lender, on the one
hand, and such Obligor, its stockholders or its affiliates, on the other. The Obligors acknowledge and agree that (i) the transactions contemplated by the Loan Documents (including the exercise of rights and remedies hereunder and thereunder)
are arm’s-length commercial transactions between the Lenders, on the one hand, and the Obligors, on the other, and (ii) solely in connection therewith and solely with the process leading thereto, (x) no Lender has assumed an advisory
or fiduciary responsibility in favor of any Obligor, its stockholders or its affiliates with respect to the transactions contemplated hereby (or the exercise of rights or remedies with respect thereto) or the process leading thereto (irrespective of
whether any Lender has advised, is currently advising or will advise any Obligor, its stockholders or its affiliates on other matters) or any other obligation to any Obligor except the obligations expressly set forth in the Loan Documents and
(y) each Lender is acting hereunder solely as principal and not as the agent or fiduciary of any Obligor, its management, stockholders, creditors or any other Person. Each Obligor acknowledges and agrees that it has consulted its own legal and
financial advisors to the extent it deemed appropriate and that it is responsible for making its own independent judgment 

  
 173 

 
with respect to the transactions contemplated by the Loan Documents and the process leading thereto. Each Obligor agrees that it will not claim that any Lender has rendered advisory services
hereunder of any nature or respect, or owes a fiduciary or similar duty to such Obligor, solely in connection with the transactions contemplated by the Loan Documents or the process leading thereto. 

SECTION 9.17. Acknowledgment Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a
guarantee or otherwise, for Hedging Agreements or any other agreement or instrument that is a QFC (such support “QFC Credit Support” and each such QFC a “Supported QFC”), the parties acknowledge and agree as follows with respect
to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated thereunder,
the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the
laws of the State of New York and/or of the United States or any other state of the United States). 
 In the event a Covered Entity
that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and
obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective
under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a
Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that
may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws
of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered
Party with respect to a Supported QFC or any QFC Credit Support. 
 SECTION 9.18. Termination. Promptly upon the Facility
Termination Date, the Administrative Agent shall direct the Collateral Agent to, on behalf of the Administrative Agent, the Collateral Agent and the Lenders, deliver to the Borrower such termination statements and releases and other documents
necessary or appropriate to evidence the release of the Borrower from this Agreement, the Loan Documents and each of the documents securing the obligations of the Borrower (and, in the case of the Facility Termination Date, with respect to each of
the foregoing, the termination thereof) hereunder as the Borrower may reasonably request, all at the sale and cost and expense of the Borrower. 

  
 174 

 SECTION 9.19. Limited Recourse. Each of the Administrative Agent, the
Collateral Agent and the Lenders acknowledges and agrees that this Agreement, the Loans, the Secured Obligations, each of the other Loan Documents and the other obligations hereunder and thereunder are only recourse to the Obligors. 

SECTION 9.20. Interest Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the interest
paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable law (the “Maximum Rate”). If Administrative Agent or any Lender shall receive interest in an
amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by
the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude
voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the obligations hereunder. 

SECTION 9.21. German Bank Separation Act. Solely for so long as Deutsche Bank AG New York Branch, or any Affiliate thereof, is a
Lender, if any such Lender is subject to the GBSA (any such Lender, a “GBSA Lender”) and such GBSA Lender shall have determined in good faith (based on reasonable advice and a written opinion of counsel), which determination shall
be made in consultation with the Borrower subject to the terms hereof that, due to the implementation of the German Act on the Ring-fencing of Risks and for the Recovery and Resolution Planning for Credit Institutions and Financial Groups (Gesetz
zur Abschirmung von Risiken und zur Planung der Sanierung und Abwicklung von Kreditinstituten und Finanzgruppen) of 7 August 2013 (commonly referred to as the German Bank Separation Act (Trennbankengesetz) (the “GBSA”)),
whether before or after the date hereof, or any corresponding European legislation (such as the proposed regulation on structural measures improving the resilience of European Union credit institutions) that may amend or replace the GBSA in the
future or any regulation thereunder, or due to the promulgation of, or any change in the interpretation by, any court, tribunal or regulatory authority with competent jurisdiction of the GBSA or any corresponding future European legislation that may
amend or replace the GBSA in the future or any regulation thereunder, the arrangements contemplated by this Agreement or the Loans have, or will, become illegal, prohibited or otherwise unlawful, then, and in any such event, such GBSA Lender shall
give written notice to the Borrower and the Administrative Agent of such determination (which written notice shall include a reasonably detailed explanation of such illegality, prohibition or unlawfulness, including, without limitation, all evidence
and calculations used in the determination thereof, a “GBSA Initial Notice”), whereupon until the tenth Business Day after the date of such GBSA Initial Notice, such GBSA Lender shall use best efforts to transfer to the extent
permitted under applicable law such arrangements, Commitments and/or Loans to an Affiliate or other third party in accordance with Section 9.04. If no such transfer is effected in accordance with the preceding sentence, such GBSA Lender shall
give written notice thereof to the Borrower and the Administrative Agent (a “GBSA Final Notice”), whereupon (i) all of the obligations (including outstanding principal of its Loans and participations in LC Disbursements and
Swingline Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, collectively, the “GBSA Obligations”) owed to such GBSA Lender hereunder and under the Loans shall become due and payable, and
the Borrower shall repay the GBSA Obligations, on the tenth Business Day immediately after the date of such GBSA Final Notice (such date being the “Initial  

  
 175 

 
GBSA Termination Date”) and, for the avoidance of doubt, such repayment shall not be subject to the terms and conditions of Section 2.08, 2.10, 2.15,
2.17(c) or 2.17(d) to the extent that there are no outstanding amounts due and payable to the other Lenders at such date and (ii) the Commitments of such GBSA Lender shall terminate on the Initial GBSA Termination Date; provided
that, notwithstanding the foregoing, prior to such Initial Termination Date and in the event the Borrower in good faith reasonably believes there is a mistake, error or omission in the grounds used to determine such illegality, prohibition or
unlawfulness under the GBSA or any corresponding future European legislation that may amend or replace the GBSA in the future or any regulation thereunder, then the Borrower may provide written notice (which written notice shall include a reasonably
detailed explanation of the basis of such good faith belief, including, without limitation, all evidence and calculations used in the determination thereof, a “GBSA Consultation Notice”) to that effect, at which point the GBSA
Obligations owed to such GBSA Lender hereunder and under the Loans shall not become due and payable, and the Commitments of such GBSA Lender shall not terminate, until the Business Day immediately following the tenth Business Day immediately after
the Initial GBSA Termination Date (and the period from, and including, the date of the GBSA Consultation Notice until the tenth Business Day immediately thereafter being the “GBSA Consultation Period”). In the event the Borrower and
such GBSA Lender cannot in good faith reasonably agree during the GBSA Consultation Period whether the arrangements contemplated by this Agreement or the Loans have, or will, become illegal, prohibited or otherwise unlawful under the GBSA or any
corresponding future European legislation that may amend or replace the GBSA in the future or any regulation thereunder, then all of the GBSA Obligations owed to such GBSA Lender hereunder and under the Loans shall become due and payable, and the
Commitments of such GBSA Lender shall terminate, on the Business Day immediately following the last day of such GBSA Consultation Period. For the avoidance of doubt, so long as a GBSA Consultation Period has occurred and is continuing, (i) the
Commitments and Revolving Credit Exposure of any GBSA Lender shall be subject to Section 2.19, and the Borrower shall have all rights to replace such GBSA Lender in accordance with Section 2.19(b), (ii) no GBSA Lender
shall be required to fund its pro rata share of any Borrowing or acquire participations in any Swingline Loans under Section 2.04(c) or Letters of Credit under Section 2.05(e), (iii) each GBSA Lender shall be deemed to have an
Applicable Percentage, Applicable Dollar Percentage and Applicable Multicurrency Percentage of zero for purposes of Sections 2.02(a), 2.04(c), 2.05(e) and 2.05(f) and (iv) no GBSA Lender shall be entitled to receive any fee pursuant to Sections
2.11(a) or (b) for any day during the continuance of such GBSA Consultation Period. Notwithstanding anything to the contrary contained herein, no part of the proceeds of any extension of credit hereunder will be used to pay any GBSA Lender or
otherwise satisfy any obligation under this Section. To the extent any Swingline Exposure or LC Exposure exists at the time a GBSA Lender’s Loans are repaid in full and such GBSA Lender’s Commitment is cancelled pursuant to this
Section 9.21, such Swingline Exposure or LC Exposure shall be reallocated as set forth in Section 2.18(c), treating for this purpose such GBSA Lender as a Defaulting Lender. Additionally, notwithstanding anything to the contrary herein,
during the GBSA Consultation Period, the Revolving Credit Exposure and unused Commitments of any GBSA Lender shall be disregarded in the determination of Required Lenders or Required Lenders of a Class. 

  
 176 

 SECTION 9.22. Effect of Amendment and Restatement of the Existing Credit
Agreement. On the Effective Date, the Existing Credit Agreement shall be amended and restated in its entirety by this Agreement. The parties hereto acknowledge and agree that (a) this Agreement and the other Loan Documents, whether executed
and delivered in connection herewith or otherwise, do not constitute a novation or termination of the obligations for principal, interest or fees of the Borrower under the Existing Credit Agreement as in effect on the Effective Date immediately
prior to the effectiveness of this Agreement and which remain outstanding; and (b) except for any of the Borrower’s obligations under the Existing Credit Agreement which are expressly contemplated to be repaid on the Effective Date and to
the extent are in fact so repaid, the obligations of the Borrower under the Existing Credit Agreement (as amended and restated hereby and which are on and after the date hereof subject to the terms herein) are in all respects continuing, and shall
continue to be secured as provided in the Security Documents. 
 [Signature Page Follows] 

  
 177 

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

			
	OWL ROCK CAPITAL CORPORATION, as Borrower
		
	By:	 	/s/ Jonathan Lamm
		 	Name: Jonathan Lamm
		 	Title: Authorized Signatory

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	TRUIST BANK, as Administrative Agent, a Swingline Lender, an Issuing Bank and a Lender
		
	By:	 	/s/ Hays Wood
	Name:	 	Hays Wood
	Title:	 	Director

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	ING CAPITAL LLC, as a Swingline Lender, an Issuing Bank and a Lender
		
	By:	 	/s/ Patrick Frisch
		 	Name: Patrick Frisch
		 	Title: Managing Director
		
	By:	 	/s/ Dominik Breuer
		 	Name: Dominik Breuer
		 	Title: Director

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	MUFG UNION BANK, N.A., as a Swingline Lender, an Issuing Bank and a Lender
		
	By:	 	/s/ Jacob Ulevich
		 	Name: Jacob Ulevich
		 	Title: Director

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	SUMITOMO MITSUI BANKING CORPORATION, as a Swingline Lender, an Issuing Bank and a Lender
		
	By:	 	/s/ Brett Austin
		 	Name: Brett Austin
		 	Title: Managing Director

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	STATE STREET BANK AND TRUST COMPANY, as a Swingline Lender, an Issuing Bank and a Lender
		
	By:	 	/s/ John Doherty
		 	Name: John Doherty
		 	Title: Vice President

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Swingline Lender, an Issuing Bank and a Lender
		
	 By:
	 	/s/ Megan Griffin
		 	Name: Megan Griffin
		 	Title: Director

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	SANTANDER BANK, N.A., as a Swingline Lender, an Issuing Bank and a Lender
		
	By:	 	/s/ Joe Abruzzo
		 	Name: Joe Abruzzo
		 	Title: Head of Commercial Banking

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	SOCIÉTÉ GÉNÉRALE, NEW YORK BRANCH, as a Lender
		
	By:	 	/s/ Nicholas Heptinstall
		 	Name: Nicholas Heptinstall
		 	Title: Managing Director

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	ROYAL BANK OF CANADA, as a Lender
		
	By:	 	/s/ Alex Figueroa
		 	Name: Alex Figueroa
		 	Title: Authorized Signatory

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	 CANADIAN IMPERIAL BANK OF COMMERCE,

as a Lender

		
	By:	 	/s/ Shyam Shankar
		 	Name: Shyam Shankar
		 	Title: Managing Director

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	GOLDMAN SACHS BANK USA, as a Lender
		
	By:	 	/s/ Ananda DeRoche
		 	Name: Ananda DeRoche
		 	Title: Authorized Signatory

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	BANK OF AMERICA, N.A., as a Lender
		
	By:	 	/s/ Sidhima Daruka
		 	Name: Sidhima Daruka
		 	Title: Director

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	DEUTSCHE BANK AG NEW YORK BRANCH,
	as a Lender
		
	By:	 	/s/ Ming K. Chu
		 	Name: Ming K. Chu
		 	Title: Director
		
	By:	 	/s/ Annie Chung
		 	Name: Annie Chung
		 	Title: Director

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	NATIXIS, NEW YORK BRANCH,
	as a Lender
		
	By:	 	/s/ Joseph Carney
		 	Name: Joseph Carney
		 	Title: Managing Director
		
	By:	 	/s/ Ronald Lee
		 	Name: Ronald Lee
		 	Title: Executive Director

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED, NEW YORK BRANCH,
	as a Lender
		
	By:	 	/s/ Weiming Zhou
		 	Name: Weiming Zhou
		 	Title:
		
	By:	 	/s/ Guoshen Sun
		 	Name: Guoshen Sun
		 	Title:

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	CITY NATIONAL BANK,
	as a Lender
		
	By:	 	/s/ David Knoblauch
		 	Name: David Knoblauch
		 	Title: SVP

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	VALLEY NATIONAL BANK (SUCCESSOR BY MERGERT TO BANK LEUMI USA),
	as a Lender
		
	By:	 	/s/ David Wiederman
		 	Name: David Wiederman
		 	Title: Vice President

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	STIFEL BANK & TRUST,
	as a Lender
		
	By:	 	/s/ Joseph L. Sooter, Jr.
		 	Name: Joseph L. Sooter, Jr.
		 	Title: Senior Vice President

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	Agreed and acknowledged solely with respect to (i) the amendment and restatement of the definitions of “Agreed Foreign Currency” and “Required Lenders” in Section 1.01 of the Existing Credit
Agreement, Sections 2.08(f), 2.09(a), 2.09(b), 2.10(c)(i), 2.11, 2.12, 2.13, 2.17(c), 2.17(d), 2.18, 2.19(c), 2.20, 7.01(e), 9.02 of the Existing Credit Agreement and any defined terms added or amended and restated as a result thereof or in
connection therewith, in each case as set forth in the corresponding Sections and defined terms of this Agreement and (ii) the amendment and restatement of the definition of “Required Secured Parties” in Section 1.02 of the Guarantee and
Security Agreement dated as of February 1, 2017 among, inter alios, the Borrower, the Administrative Agent, each Subsidiary of the Borrower from time to time party thereto and the Collateral Agent (as the same has been amended, modified,
restated and supplemented from time to time prior to the date hereof, the “Existing Guarantee and Security Agreement”), Sections 9 and 10.03 of the Existing Guarantee and Security Agreement and any defined terms added or amended and
restated as a result thereof or in connection therewith, in each case as set forth in the corresponding Sections and defined terms of the Guarantee and Security Agreement
	
	CREDIT SUISSE AG, CAYMAN ISLANDS
	BRANCH, as a Lender
		
	By:	 	/s/ Doreen Barr
		 	Name: Doreen Barr
		 	Title: Authorized Signatory
		
	By:	 	/s/ Wesley Cronin
		 	Name: Wesley Cronin
		 	Title: Authorized Signatory

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	MORGAN STANLEY SENIOR FUNDING INC.,
	as a Lender
		
	By:	 	/s/ David White
		 	Name: David White
		 	Title: Authorized Signatory

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit Agreement 

 
			
	EAST WEST BANK,
	as a Lender
		
	By:	 	/s/ Michael Watts
		 	Name: Michael Watts
		 	Title: FVP – Relationship Manager

  
 Signature Page to
Amended and Restated Senior Secured Revolving Credit AgreementExhibit
10.31

 

Execution
Version

 

Pursuant
to Item 601(b)(10)(iv) of Regulation S-K, this exhibit
omits certain information, identified by [***], that is not material and that the registrant treats as private or confidential.

 

CONTRACT
MANUFACTURING AND SUPPLY AGREEMENT

 

by
and between

 

FARADAY&FUTURE
INC.

 

and

 

MYOUNG
SHIN CO., LTD.

 

Dated:
FEBRUARY 4, 2022

 

      

     

    

 

TABLE
OF CONTENTS

 

	 	 	Page
	1.	DEFINITIONS; INTERPRETATION	1
	 	 	 
	2.	NATURE AND SCOPE OF COLLABORATION	12
	 	 	 
	3.	COMMITTEES	12
	 	 	 
	4.	BASIC SPECIFICATIONS AND VARIATIONS	13
	 	 	 
	5.	PRODUCTION PLAN; FORECAST
    AND ORDER PROCESS	13
	 	 	 
	6.	HOMOLOGATIONS; MANUFACTURING
    AND ASSEMBLY OF PRODUCTS	21
	 	 	 
	7.	SHIPMENT AND DELIVERY OF FF81
    PRODUCTS	34
	 	 	 
	8.	PRICE; PAYMENT TERMS	37
	 	 	 
	9.	SUPPLY, PROCUREMENT AND SOURCING
    OF PARTS	41
	 	 	 
	10.	REPRESENTATIONS; WARRANTIES;
    COVENANTS; PRODUCT WARRANTY	45
	 	 	 
	11.	IMPROVEMENTS	49
	 	 	 
	12.	FF SALE AND DISTRIBUTION OF
    FF81 PRODUCTS	50
	 	 	 
	13.	CATASTROPHIC DEFECTS; PRODUCT
    RECALLS	51
	 	 	 
	14.	TECHNICAL ASSISTANCE; ADDITIONAL
    SERVICES	52
	 	 	 
	15.	INTELLECTUAL PROPERTY RIGHTS	53
	 	 	 
	16.	TERM; TERMINATION	57
	 	 	 
	17.	INDEMNIFICATIONS	59
	 	 	 
	18.	CONFIDENTIALITY; NON-DISCLOSURE	61
	 	 	 
	19.	FORCE MAJEURE; EXCUSABLE DELAY	63
	 	 	 
	20.	COMPLIANCE OBLIGATIONS; DATA
    AND INFORMATION	64
	 	 	 
	21.	MISCELLANEOUS	68

 

    -i-

     

    

 

List
of Annexes and Schedules

 

Annexes

 

	Annex
Number
	 	Description	 	Cross-References
	Annex 1	 	Technical Vehicle Documentation	 	Definition of Technical Vehicle
    Documentation; a); 4.1(c)
	Annex 1.1	 	Bill of Material	 	 
	Annex 1.3	 	Vehicle Specification	 	 
	Annex 2	 	Master Timetable	 	4.1(a); 5.1(a) (definition
    of Master Timetable)
	Annex 2.1	 	Timing Plan (Project Plan)	 	 
	Annex 2.2	 	[Reserved]	 	 
	Annex 2.3	 	Build Phase Planning	 	 
	Annex 3	 	Quality Targets	 	Definition of Quality Targets;
    4.1(a)
	Annex 4	 	Selection Process for Suppliers	 	 
	Annex 4.1	 	Supplier Site Assessment	 	 
	Annex 4.2	 	Capacity Analysis Form	 	 
	Annex 5	 	Prototypes (PT) and Pre-Series
    Vehicles	 	6.3(a), (b), (c) and (f)
	Annex 5.2	 	PT – Quality –
    Requirements	 	 
	Annex 5.3	 	Camouflage of Prototypes	 	 
	Annex 5.4	 	QAF for Pre-Series Vehicles	 	 
	Annex 5.5	 	Pre-Series Vehicle Accompanying
    Book	 	 
	Annex 5.6	 	Vehicle Usage Booklet	 	 
	Annex 6	 	Interface Agreement	 	4.1(f)
	Annex 7	 	Product Specific Investment
    (PSI)	 	Definition of PSI; 6.7
	Annex 13	 	Production Starting Curve	 	5.1(d)
	Annex 15	 	Faraday IPTC and Logistics
    Requirements	 	9.2(c)
	Annex 15.1	 	IPC (International
    Purchasing Terms and Conditions)	 	 
	Annex 15.2	 	Logistics Requirements	 	 
	Annex 17	 	Packaging/Preservation Form
    and Outbound Logistics Process	 	7.1(e)
	Annex 19	 	Quality Management Procedures,
    Standards and Policies	 	Definition of Quality Management
    Procedures; 6.2(a); 6.11(a)(i); 10.7
	Annex 19.1	 	Audit	 	 
	Annex 19.2	 	COP (Conformity of Production)	 	Definition of CoP
	Annex 19.3	 	Surface Quality Rating	 	 
	Annex 19.4	 	Problem Management Process	 	 
	Annex 19.5	 	QM – Process –
    Requirements	 	 
	Annex 20	 	Faraday Communication Guidelines	 	21.15
	Annex 21	 	Composition and Responsibilities
    of Committees	 	Definition of CB Members and
    Cooperation Board; 3.1; 5.3(a); 5.4(a); 21.4(b)
	Annex 21.1	 	Project Escalation Guidelines	 	 
	Annex 21.2	 	Project Organization –
    Faraday - MS	 	 
	Annex 22	 	[Reserved]	 	 
	Annex 23	 	[Reserved]	 	 
	Annex 24	 	[Reserved]	 	 

 

    -ii-

     

    

 

	Annex 25	 	[Reserved]	 	 
	Annex 26	 	Risk Management Requirements	 	6.7(b)
	Annex 27	 	Project Status and Evaluation	 	 
	Annex 27.1	 	Project Gateway Assessment	 	 
	Annex 27.2	 	Traffic Light Definition	 	 
	Annex 28	 	Change Management Process
    and Requirements	 	Definition of Change Management
    Process; 4.1(a); 14.3
	Annex 29	 	Specifications/Process Instructions	 	6.11(a)(i)
	Annex 30	 	[Reserved]	 	 
	Annex 31	 	Planned Production Volumes	 	4.1(a); 5.10(a); 8.1(g)
	Annex 32	 	Quotation Analysis Form (QAF)	 	Definition of QAF; 5.2(b);
    5.2(c); 6.7(b); 6.7(c)(ii)(A); 8.1(a); 8.1(c); 8.1(d)(i)
	Annex 33	 	Additional Service Cost	 	12.1(b); 14.3
	Annex 34	 	FF Production Standards	 	6.7(b)(ii); 6.7(c)(iii)
	Annex 35	 	Sales Market and Launch Dates	 	12.2
	Annex 35.1	 	Market Overview	 	 
	Annex 35.2	 	Launch Overview	 	 
	Annex 36	 	Homologation Process and Requirements	 	Definition of Homologation
    Requirements
	Annex 37	 	Production Technical Handover	 	 
	Annex 38	 	[Reserved]	 	 
	Annex 39	 	Release Process	 	 
	Annex 39.1	 	Release Process/Tools	 	 
	Annex 40	 	Service Parts Requirements	 	 
	Annex 41	 	IT Services and Requirements	 	69(a)
	Annex 42	 	[Reserved]	 	 
	Annex 43	 	[Reserved]	 	 
	Annex 44	 	[Reserved]	 	 
	Annex 45	 	Product Specific Investment
    (PSI) Ledger Form	 	Definition of PSI Ledger;
    6.7(c)(v); 6.7(d)
	Annex 46	 	Contract – LOP	 	 

 

Schedules

 

	Schedule Number	 	Description	 	Cross-References
	Schedule 5.2	 	SOP; Initial Target Annual
    Production; Initial Forecast; Initial Prices	 	5.2; 6.1(a); 8.1(b); 8.1(j)
	Schedule 5.5(b)	 	Forecast and FF Order Schedule	 	5.5(b); 5.6(a); 5.6 (c); 5.9(b)
	Schedule 5.6(a)	 	Form of Product Purchase Order	 	5.6(a); 5.6(b); 5.11(a)
	Schedule 6.6(b)	 	MS Form of Certificate of
    Insurance	 	6.6(b)
	Schedule 9.3(a)	 	FF Supplied Parts Order Schedule	 	9.3(a)
	Schedule 9.3(b)	 	Form of FF Supplied Parts
    Purchase Order	 	9.3(b); 9.9(a)

 

    -iii-

     

    

 

CONTRACT
MANUFACTURING AND SUPPLY AGREEMENT

 

THIS
CONTRACT MANUFACTURING AND SUPPLY AGREEMENT (including all schedules and annexes hereto, collectively, the “Agreement”)
is effective as of the Effective Date (defined below) by and between FARADAY&FUTURE INC.,
a corporation organized and existing under the laws of the State of California, U.S.A., with offices located at 18455 S. Figueroa
Street, Gardena, CA 90248, U.S.A. (“FF”), and MYOUNG SHIN CO., LTD.,
a corporation organized and existing under the laws of Republic of Korea with offices located at 34 Jayu-ro, Gunsan-si, Jeonllabuk-do,
Republic of Korea (“MS”).

 

RECITALS

 

WHEREAS,
FF is engaged in the business of the design, development, manufacturing and selling of premium electric vehicles products under its brand
name Faraday Future, including the FF81 Products which have been designed and developed by FF and with respect to which FF owns exclusively
all related intellectual property, manufacturing and distribution rights;

 

WHEREAS,
MS is a global manufacturer of automotive parts and is committed to the design, development, manufacturing and selling of electric
vehicles and other related products, including parts and components;

 

WHEREAS,
MS owns and operates a large automotive vehicle manufacturing facility located at its Gunsan Plant, which currently has excess manufacturing
capacity; and

 

WHEREAS,
FF and MS each desire that MS manufacture the FF81 Products for FF and sell and supply such FF81 Products to FF, and that FF supply
certain FF Supplied Parts to MS in connection therewith, in each case on the terms and conditions set forth in this Agreement.

 

AGREEMENT

 

In
consideration of the foregoing and other good and valuable consideration, the sufficiency of which is hereby acknowledged, and intending
to be legally bound, the Parties agree as follows:

 

		1.	DEFINITIONS;
INTERPRETATION

 

		1.1.	Definitions.
                                            Capitalized terms used in this Agreement have the following meanings:

 

“Actual
Fill Rate” means the proportion of the total number of FF81 Products delivered by MS for a given month to the total number
of the FF81 Products under the Product Purchase Order for such month.

 

“Actual
Parts Fill Rate” means the proportion of the total number of FF Supplied Parts delivered by FF for a given month to the total
number of the FF Supplied Parts under the Parts Purchase Order for such month.

 

“Actual
Volume” is defined in Section 8.1(g).

 

“Affiliate”
means in respect to a Person, any other Person that directly or indirectly, through one or more intermediaries, Controls, is Controlled
by, or is under common Control with, such Person.

 

“Agreement”
is defined in the Preamble.

 

“Annual
Production Meeting” is defined in Section 5.4.

 

“Applicable
Law” or “Law” means any applicable statute, law, regulation, ordinance, order, decree or the like having
the force of law promulgated by any Governmental Authority, including the TREAD Act, the National Traffic And Motor Vehicle Safety Act
and all other applicable federal U.S. motor vehicle safety standards and other regulations issued by NHTSA or European Union Directive
2000/53/EC.

 

“Approval”
is defined in Section 6.5.

 

    Page 1

     

    

 

“Approved
MS Plants” is defined in Section 6.4(b).

 

“Authorized
Purchasers” is defined in Section 10.3(g).

 

“Background
IPR” means, in respect to a Party, all Intellectual Property Rights that are (a) owned or controlled (whether by ownership
or license) by such Party as of the Effective Date, or (b) acquired, licensed, created or developed by such Party outside the scope of
the FF81 Collaboration during the Term, and, in the case of either clause (a) or (b), is necessary or useful for either Party to perform
its obligations under this Agreement.

 

“Basic
Specifications” is defined in Section 4.1(a).

 

“Business
Day” means any day that is not a Saturday, Sunday or any other day on which banks are required or authorized by Law to be closed
in Los Angeles, California; or Seoul, Republic of Korea.

 

“Catastrophic
Defect” is defined in Section 13.1.

 

“CB
Member(s)” is defined in Annex 21.

 

“Change(s)”
means a modification of, deviation from, addition to or any other change to this Agreement.

 

“Change
Management Process” means the process of approving Changes as further detailed in Annex 28.

 

“Change
of Control” means, in relation to a Party, (a) consummation of any transaction or a series of transactions, including a sale
of equity interests, a reorganization, merger or consolidation, or a public offering, that results in such Party being Controlled by
any Person other than the Person (if any) who Controlled such specified Party prior to consummation of any such transaction or a series
of transactions or (b) the sale or transfer of substantially all of its business or assets or a similar type of transaction.

 

“Committee”
is defined in Section 3.1.

 

“Confidential
Information” is defined in Section 18.1.

 

“Confirmation”
is defined in Section 5.8(a).

 

“Conformity
of Production” or “CoP” means MS providing all evidence necessary or reasonably requested by FF to confirm
MS’s prior manufacturing of, and future ability to manufacture, the FF81 Products and all systems, parts and technical units forming
a part thereof that exactly match the Basic Specification, including the approved type, as approved by the applicable Governmental Authorities,
in compliance with Applicable Law and in compliance with Annex 19.2.

 

“Conflict
Minerals” is defined in Section 20.1(e).

 

“Control”
means, in relation to a specified Person, (a) the ability to direct or cause the direction of management or policies of such specified
Person through ownership of voting securities, contract, or otherwise or (b) the direct or indirect holding beneficially of more than
50% of the total issued and outstanding shares of capital stock or equivalent of such specified Person. The term “Controlled”
and “Controlling” shall have the correlative meanings.

 

“Corrective
Measures” is defined in Section 13.2(b)(i).

 

“Corrected
Prototype” is defined in Section 6.3(f)(iv)(B).

 

“Cooperation
Board” is defined in Annex 21.

 

“Delayed
Delivery Period” is defined in Section 5.7(c)(ii)(B).

 

    Page 2

     

    

 

“Delivery
Date” is defined in Section 7.1(a).

 

“Design
& Engineering Defect” means any defect resulting from any design (including Specifications) or engineering of the FF81
Products or the FF81 Parts. For clarity and avoidance of doubt, the term Design & Engineering Defect does not include any Manufacturing
Defect or any matter that is excluded pursuant to any Exclusion from FF Warranty.

 

“Deviation
Percentage” means, unless otherwise agreed by the Parties, with respect to any increase or decrease: (a) for the Initial Year,
[***] and (b) for each Subsequent Year (or portion thereof) during the Term, [***] each measured over the Deviation Percentage Measurement
Period.

 

“Deviation
Percentage Measurement Period” is defined in Section 5.5(b).

 

“Disclosing
Party” is defined in Section 18.1.

 

“Discontinuation”
is defined in Section 5.13(a).

 

“Dispute”
is defined in Section 21.4.

 

“Dodd-Frank”
is defined in Section 20.1(e).

 

“EDI”
means computer-to-computer electronic data interchange exchange of purchase orders or other documents in a mutually agreed electronic
format between the Parties.

 

“Effective
Date” is defined in Section 16.1(a).

 

“EOP”
means the end of production of the FF81 Products by MS as contemplated under this Agreement.

 

“Excess”
is defined in Section 8.1(g)(i).

 

“Excess
Demand” is defined in Section 6.12(b).

 

“Excess
Volume Credit” is defined in Section 8.1(g)(i).

 

“Exclusion
from FF Warranty” is defined in Section 10.2(e).

 

“Exclusion
from MS Warranty” is defined in Section 10.3(d)(i).

 

“Excusable
Delay” is defined in Section 19.2.

 

“Executive
Board” is defined in Section 21.4(b).

 

“FF81
Collaboration” is defined in Section 2.1.

 

“FF81
Collaboration Project” is defined in Section 2.1.

 

“FF81
Foreground IPR” means [***].

 

“FF81
Improvement” means [***].

 

“FF81
Model” means the battery electric vehicle (BEV) model currently being developed by FF as a mass production model known as the
“FF81” model and any subsequent model updates or replacements to such model incorporating any Improvements thereto as approved
by FF pursuant to Section 11.

 

“FF81
Parts” means the parts, components and raw materials required to be incorporated into the FF81 Product in connection with its
manufacture and assembly in accordance with the Basic Specification.

 

“FF81
Product” means each completed FF81 Model to be manufactured and assembled by MS pursuant to the terms of this Agreement.

 

    Page 3

     

    

 

“FF
Background IPR” means the Background IPR of FF, including Intellectual Property Rights in and to the FF81 Model, FF81 Product,
FF81 Parts and Basic Specifications.

 

“FF
Contract Supplier” is defined in Section 9.1(d).

 

“FF
Contract Supplier Agreement” is defined in Section 9.1(d).

 

“FF
Contract Supplier Claims” is defined in Section 9.1(d).

 

“FF
Contract Supplier Parts” is defined in Section 9.1(d).

 

“FF
Deviation” is defined in Section 5.7(a).

 

“FF
Excess” is defined in Section 9.8(c)(i).

 

“FF
Indemnitee” is defined in Section 17.1(a)(i).

 

“FF
Inspection Period” is defined in Section 7.6(a)(i).

 

“FF
Intellectual Property” is defined in Section 15.2(a)(i).

 

“FF
Invoice” is defined in Section 8.2(c).

 

“FF
Non-Conformity” is defined in Section 9.8(c).

 

“FF-NS
Joinder Agreement” is defined in Section 9.1(b).

 

“FF
Owned Foreground IPR” means [***].

 

“FF
Owned Improvement” is defined in Section 15.1(d).

 

“FF
Owned Other New Technology” is defined in Section 15.1(h).

 

“FF
Owned Process New Technology” is defined in Section 15.1(g).

 

“FF
Owned Tooling” means all FF Tooling with respect to which FF has paid MS in full.

 

“FF
Quality Standards” is defined in Section 6.11(a)

 

“FF
ROFO Notice” is defined in Section 6.12(b)(i).

 

“FF
Sales and Service Activities” is defined in Section 12.1(a).

 

“FF
Sales Territory” means any country or territory in the world in which the FF81 Products are to be sold or distributed by FF
to retail end-customers, directly by FF or any of its Affiliates or indirectly by a third party dealer, as determined from time to time
by FF in its sole discretion.

 

“FF
Shortage” is defined in Section 9.8(c)(i).

 

“FF
Submission Month” is defined in Section 5.5(b).

 

“FF
Supplied Part” (or “FF Supplied Parts”) means each of the FF81 Parts to be supplied by FF or a FF Contract
Supplier pursuant to the terms of this Agreement.

 

“FF
Technical Assistance” is defined in Section 14.1.

 

“FF
Third Party Products” is defined in Section 10.6(b).

 

“FF
Tooling” means all Tooling constituting PSI to be purchased by FF from MS.

 

    Page 4

     

    

 

“FF
Trademarks” means all trademarks owned by FF.

 

“FF
Volume Requirement” is defined in Section 5.5(b).

 

“FF
Warranty” is defined in Section 10.2(b).

 

“FF
Warranty Period” is defined in Section 10.2(f).

 

“FF’s
Position” is defined in Section 20.1(g)(ii).

 

“Fill
Rate Discount” is defined in Section 7.1(b).

 

“Fixed
Costs” means:

 

[***]

 

“Force
Majeure Event” is defined in Section 19.1.

 

“Foreground
IPR” means all Intellectual Property Rights that are (a) made, invented, or developed, by either Party solely, or by the Parties
jointly, at any time during the Term as a result of such Party’s, or the Parties’, carrying out of the FF81 Collaboration
or any FF81 Collaboration Project and (b) not the Background IPR of either Party. [***]

 

“Freight
Charges” is defined in Section 8.1(j).

 

“Governmental
Authority” means any federal, state, county, provincial, city, local, municipal, foreign or other government or quasi-governmental
department, commission, board, bureau, agency, regulatory authority, instrumentality, or judicial or administrative body having jurisdiction
over a Party or the Parties.

 

“Gunsan
Plant” means the manufacturing facility owned and operated by MS and located at 34 Jayu-ro, Gunsan-si, Jeonllabuk-do, Republic
of Korea.

 

“Hazardous
Substances” is defined in Section 20.1(d).

 

“Homologation
Requirements” means, as set forth in Annex 36 and as used with an FF Sales Territory, all homologation regulations and
requirements of any Governmental Authority in such FF Sales Territory necessary for a Party to market, sell and distribute the FF81 Products
for use on the public highways and roads in such FF Sales Territory.

 

“ICC
Rules” is defined in Section 21.4(c).

 

“IMDS”
means the International Material Data System, as further set forth on www.mdsystem.com.

 

“Improvements”
means Foreground IPR that is a modification to, improvement on, enhancement on, upgrade to, or adaptation to, or derivative work of,
either Party’s Background IPR, made, invented, or developed by either Party without contribution from the other Party, or by the
Parties jointly, or by either Party jointly with a third party.

 

“INCOTERMS”
means INCOTERMS 2020, as published by the International Chamber of Commerce, and the references to specific shipping methods in this
Agreement shall have the meanings specified in such Incoterms.

 

“Indemnified
Party” is defined in Section 17.2(a).

 

“Indemnifying
Party” is defined in Section 17.2(a).

 

“Information”
means any ideas, concepts, data, know-how, discoveries, inventions, improvements, methods, techniques, technologies, systems, specifications,
analyses, products, practices, processes, procedures, protocols, research, tests, trials, assays, controls, prototypes, formulas, descriptions,
formulations, submissions, communications, skills, experience, knowledge, plans, objectives, algorithms, reports, results, conclusions,
or other information, irrespective of whether or not copyrightable or patentable and in any form or medium (tangible, intangible, oral,
written, electronic, observational, or other) in which any of the foregoing may be communicated or subsist. Without limiting the foregoing
sentence, Information includes any technological, scientific, business, legal, patent, organizational, commercial, operational, or financial
information.

 

    Page 5

     

    

 

“Initial
FF Forecast” is defined in Section 5.2(b)(i).

 

“Initial
FF Price” is defined in Section 5.2(b)(ii).

 

“Initial
Forecast” means either the Initial FF Forecast or the Initial MS Forecast, as the context may require.

 

“Initial
MS Forecast” is defined in Section 5.2(c)(i).

 

“Initial
Parts Price” is defined in Section 5.2(c)(ii).

 

“Initial
Price” means either the Initial FF Price or the Initial Parts Price, as the context may require.

 

“Initial
Target Annual Production” is defined in Section 5.2(a)(ii).

 

“Initial
Term” is defined in Section 16.1(a).

 

“Initial
Year” means the period commencing on the SOP Korea and ending on the first (1st) anniversary of the SOP Korea.

 

“Intellectual
Property Rights” means any or all of the following and all rights in, arising out of or associated with any of the following
in any jurisdiction throughout the world: (a) patents, (b) trademarks and service marks, (c) copyrights, (d) domain names, (e) trade
secrets (f) software, (g) Technical Information and any proprietary interest in any other Information and (h) all other intellectual
or industrial property and proprietary rights, including, rights in any applications and granted registrations for any of the foregoing,
and all rights to sue and recover damages and obtain injunctive relief for past, present and future infringement, dilution, misappropriation,
violation or breach of any of the foregoing.

 

“Invoice”
means either the FF Invoice or the MS Invoice, as the context may require.

 

“IT
Services” is defined in Section 6.9(a).

 

“Joint
Assessment” is defined in Section 6.3(f)(iii).

 

“Joint
Investigation” is defined in Section 13.2(b)(i).

 

“Jointly
Owned Other New Technology” is defined in Section 15.1(h).

 

“Labor
and Administrative Cost” is defined in the definition of the Fixed Cost.

 

“Lead
Time” means in respect to any FF81 Products for which FF has submitted to MS a Product Purchase Order, the amount of time between
MS’s acceptance of such Product Purchase Order and delivery of the FF81 Products under such Product Purchase Order to FF. For the
purpose of the definition of the term “Lead Time”, the term “delivery” means the completion of MS’s delivery
obligation under this Agreement.

 

“Limited
Trademark License” is defined in Section 15.4(c)(i).

 

“manufacture”
or “manufacturing” means all operations involved in the production of the FF81 Products, including manufacturing,
stamping, assembly, painting and testing of the FF81 Products.

 

“M&E”
is defined in Annex 7.

 

    Page 6

     

    

 

“Manufacturing
Cost” means, for each FF81 Product, the materials cost, the production cost, plus SG&A cost, plus operating profit for
such FF81 Product.

 

“Manufacturing
Defect” means (i) with respect to MS, any defect, latent or otherwise, in the manufacturing of the FF81 Products or the MS
Supplied Parts or in the assembly of the FF81 Products, other than any Design & Engineering Defect or any defect that is excluded
pursuant to any Exclusion from MS Warranty (a “MS Manufacturing Defect”), and (ii) with respect to FF, any defect,
latent or otherwise, in the manufacturing of the FF Supplied Parts, other than any defect that is excluded pursuant to any Exclusion
from FF Warranty (a “FF Manufacturing Defect”).

 

“Manufacturing
Failure” is defined in Section 5.12(e)(i).

 

“Manufacturing
Territory” means (a) the Republic of Korea and (b) any other territory in which MS is expressly authorized by FF to manufacture
the FF81 Products under this Agreement.

 

“Master
Timetable” is defined in Section 5.1(a).

 

“Minimum
Fill Rate” is defined in Section 7.1(b).

 

“Minimum
Parts Fill Rate” is defined in Section 9.7(b).

 

“Minimum
Volume Commitment” is defined in Section 5.10(a).

 

“Mitigated
Sunk Parts Cost” is defined in the definition of the Fixed Cost.

 

“Monthly
FF Forecast” is defined in Section 5.5(b).

 

“Monthly
Forecast” means either the Monthly FF Forecast or the Monthly MS Forecast, as the context may require.

 

“Monthly
MS Forecast” is defined in Section 5.9(b).

 

“Monthly
Production Meeting” is defined in Section 5.3(a).

 

“MS
Background IPR” means the Background IPR of MS.

 

“MS
Contract Supplier” is defined in Section 9.1(b).

 

“MS
Contract Supplier Claims” is defined in Section 9.1(c).

 

“MS
Contract Supplier Parts” is defined in Section 9.1(c).

 

“MS
Deviation” is defined in Section 9.4(a).

 

“MS
Excess” is defined in Section 7.6(c)(i).

 

“MS
Indemnitee” is defined in Section 17.1(b)(i).

 

“MS
Inspection Period” is defined in Section 9.8(a)(i).

 

“MS
Intellectual Property” is defined in Section 15.2(b)(i).

 

“MS
Invoice” is defined in Section 8.2(b).

 

“MS
Non-Conformity” is defined in Section 7.6(c).

 

“MS-NS
Agreement” is defined in Section 9.1(b).

 

“MS
Owned Foreground IPR” means [***].

 

    Page 7

     

    

 

“MS
Owned Improvement” is defined in Section 15.1(d).

 

“MS
Owned Other New Technology” is defined in Section 15.1(h).

 

“MS
Owned Process New Technology” is defined in Section 15.1(g).

 

“MS
ROFO Notice” is defined in Section 6.12(b)(ii).

 

“MS
Sales Support Services” is defined in Section 12.1(b).

 

“MS
Service Description” is defined in Section 12.1(b)(i).

 

“MS
Service Fee Quotation” is defined in Section 12.1(b)(ii).

 

“MS
Shortage” is defined in Section 7.6(c)(i).

 

“MS
Submission Month” is defined in Section 5.9(b).

 

“MS
Supplied Part” means any FF81 Parts other than the FF Supplied Parts.

 

“MS
Technical Assistance” is defined in Section 14.2.

 

“MS
Third Party Products” is defined in Section 10.6(a).

 

“MS
Tooling” means all Tooling that is not FF Tooling.

 

“MS
Volume Requirements” is defined in Section 5.9(b).

 

“MS
Warranty” is defined in Section 10.3(b).

 

“MS
Warranty Period” is defined in Section 10.3(e).

 

“MS’s
Agents” is defined in Section 20.1(f).

 

“New
Technology” means all Foreground IPR that are not Improvements.

 

“NHTSA”
means the National Highway Traffic Safety Administration, and any successor agency or administration.

 

“Nominated
Supplier” is defined in Section 9.1(a).

 

“Non-Conformity”
means either the FF Non-Conformity or the MS Non-Conformity, as the context may require.

 

“Non-Offsetting
Party” is defined in Section 8.2(e).

 

“Non-Responsible
Party” is defined in Section 13.2(c).

 

“Non-Terminating
Party” is defined in Section 16.2(a).

 

“Notice
of Dispute” is defined in Section 21.4(a).

 

“Notice
of Improvement” is defined in Section 11.1(a).

 

“Notice
of Validation” is defined in Section 6.3(f)(ii).

 

“Notice
of Validation Failure” is defined in Section 6.3(f)(iii).

 

“Offset”
is defined in Section 8.2(e).

 

    Page 8

     

    

 

“Offsetting
Party” is defined in Section 8.2(e).

 

“Other
FF Requirements and Standards” is defined in Section 6.1(a)(ii)(C).

 

“Other
MS Plant” is defined in Section 6.4(b).

 

“Other
New Technology” is defined in Section 15.1(h).

 

“Parties”
means collectively, FF and MS.

 

“Parts
Purchase Order” is defined in Section 9.3(a).

 

“Parts
Order Adjustment” is defined in Section 9.4(c).

 

“Parts
Tooling” any jigs, dies, molds, tooling, patterns, gauges, fixtures and other tangible property and related data solely necessary
to manufacture the FF81 Parts.

 

“Party”
means either FF or MS.

 

“Person”
means an individual, corporation, partnership, joint venture, limited liability entity, Governmental Authority, unincorporated organization,
trust, association, or other entity.

 

[***]

 

“Prices”
is defined in Section 8.1(a).

 

“Price
Adjustment Indexes” is defined in Section 8.1(c).

 

“Price
Reduction” is defined in Section 8.1(e)(i).

 

“Private
Labeling” is defined in Section 15.4(c)(i).

 

“Product
Purchase Order” is defined in Section 5.6(a).

 

“Product
Specific Investment” or “PSI” means manufacturing equipment and facilities, special racks and Tooling and
related subassemblies required by MS solely for the series production of the FF81 Products or which is otherwise used solely to create
any FF Intellectual Property, as further detailed in Annex 7.

 

“Production
Plan” is defined in Section 5.3(b).

 

“Proposing
Party” is defined in Section 11.1(a).

 

“Process
New Technology” is defined in Section 15.1(g).

 

“Prototype
Part” is defined in Section 6.3(b).

 

“Prototypes”
is defined in Section 6.3(a).

 

“PSI
Ledger” means the ledger that details all PSI (including name, type, serial number, manufacturer, location etc.) as set out
in Annex 45.

 

“QAF”
means the quotation analysis form (QAF) for the FF81 Products as attached hereto in Annex 32.

 

“Quality
Management Procedures” means the quality management procedures laid down in Annex 19.

 

“Quality
Program” is defined in Section 6.2(a).

 

    Page 9

     

    

 

“Quality
Targets” means the quality targets for this Agreement, in particular the production and manufacturing of the FF81 Product by
MS under this Agreement, including the quality targets specified in Annex 3.

 

“Quality
Testing” is defined in Section 6.3(d).

 

“Recall
Campaign” is defined in Section 13.2(a).

 

“Receiving
Party” is defined in Section 18.1.

 

“Recycled
Metals” is defined in Section 20.1(e)(v).

 

“Remedial
Measures” is defined in Section 6.3(f)(iv)(A).

 

“Remedial
Measures Completion Date” is defined in Section 6.3(f)(iv)(A).

 

“Required
Capacity” means (a) if during the Initial Year, one-hundred thirty percent (130%), and (b) if for each Subsequent Year during
the Term, one-hundred twenty five percent (125%),

 

“Rescheduling
Notice” is defined in Section 5.7(c)(i).

 

“Settlement
Period” is defined in Section 8.1(g).

 

“Shortage”
is defined in Section 8.1(g)(ii).

 

“Shortage
Volume Rebate” is defined in Section 8.1(g)(ii).

 

“SOP”
or “Start of Production” means, as used with each Manufacturing Territory, the date on which MS shall first commence
production of the FF81 Products in such Manufacturing Territory.

 

“SOP
Korea” is defined in Section 5.2(a)(i).

 

“SOP
Month” means, as used with each Manufacturing Territory, the calendar month in which SOP occurs in such Manufacturing Territory.

 

“SOP
Month Korea” means the SOP Month for the Republic of Korea.

 

“Spare
Parts” is defined in Section 5.15.

 

“Special
Parts Order” is defined in Section 9.9(a).

 

“Special
Order” is defined in Section 5.11(a).

 

“Specifications”
means all technical or performance requirements, specifications, drawings, designs, instructions, samples or other quality standards
and descriptions or Technical Information or commercial Information furnished by FF to MS, or specified by FF for use by MS, during the
Term relating to the design, development, manufacturing and assembly, testing, packaging and labeling, marketing, sale and distribution
or use of the FF81 Products by MS in each Manufacturing Territory, including bills of materials, schematic diagrams, and assembly drawings.

 

“Storage
Cost” is defined in the definition of the Fixed Cost.

 

“Structural
Investments” means any manufacturing equipment and facilities, special racks, MS Tooling and related subassemblies required
by MS for the production of any vehicles, including the FF81 Products, except any PSI.

 

“Submission
Month” means either the MS Submission Month or the FF Submission Month, as the context may require.

 

    Page 10

     

    

 

“Subsequent
Year” means each successive one (1) year period following the expiration of the Initial Year.

 

“Supplied
Data” is defined in Section 20.2(a).

 

“Target
Annual Production” is defined in Section 5.4(a).

 

“Target
Volume” is defined in Section 8.1(g).

 

“Technical
Information” means any or all Information relating to apparatus, methods, processes, practices, formulas, techniques, procedures,
manufacturing or quality standards, patterns, ingredients, designs or the like, including drawings, computer-aided design (CAD) data
or other form of written recitations of data, specifications, parts, lists, assembly procedures, operating or maintenance manuals, test
or other technical reports, manufacturing instructions, know-how, experience, computer programs and all other technical Information relating
to the design, manufacture, assembly or use of any products.

 

“Technical
Vehicle Documentation” means the technical vehicle documentation for the FF81 Products provided by or on behalf of FF to MS,
including the documentation listed in Annex 1.

 

“Term”
is defined in Section 16.1(b).

 

“Terminating
Party” is defined in Section 16.2(a).

 

“Termination
Event” is defined in Section 16.2(a).

 

“Termination
Notice” is defined in Section 16.2(a).

 

“Third
Party Claim” is defined in Section 17.1(a).

 

“Third
Party Products” means, as the case may be, either the FF Third Party Products or the MS Third Party Products.

 

“Tooling”
means jigs, dies, molds, tooling, patterns, gauges, fixtures and other tangible property and related data necessary to manufacture the
FF81 Products, whether owned or utilized by MS or any MS Contract Supplier, other than the Parts Tooling.

 

“Transition
Period” is defined in Section 16.4(b).

 

“Transition
Support” is defined in Section 16.6.

 

“Triggering
Event” is defined in Section 5.1(b).

 

“Validation
Testing” is defined in Section 6.3(f)(i).

 

“Vehicle
Identification Labels” is defined in Section 15.7.

 

		1.2.	Interpretation.
                                            In this Agreement, except to the extent otherwise provided or that the context otherwise
                                            requires:

 

		(a)	when
                                            a reference is made in this Agreement to a Section, Annex or Schedule, such reference is
                                            to a Section of, or an Annex or Schedule to, this Agreement;

 

		(b)	the
                                            table of contents, recitals and headings for this Agreement are for reference purposes only
                                            and do not affect in any way the meaning or interpretation of this Agreement;

 

		(c)	whenever
                                            the words “include,” “includes” or “including” are used
                                            in this Agreement, they are deemed to be followed by the words “without limitation”;

 

		(d)	the
                                            words “hereof,” “herein” and “hereunder” and words of
                                            similar import, when used in this Agreement, refer to this Agreement as a whole and not to
                                            any particular provision of this Agreement;

 

    Page 11

     

    

 

		(e)	all
                                            terms defined in this Agreement have the defined meanings herein when used in any Annex,
                                            Schedule or other document delivered or made available pursuant hereto, unless otherwise
                                            defined therein;

 

		(f)	the
                                            definitions contained in this Agreement are applicable to the singular as well as the plural
                                            forms of such terms;

 

		(g)	references
                                            to a Person are also to its successors and permitted assigns;

 

		(h)	the
                                            use of “or” is not intended to be exclusive unless expressly indicated otherwise;

 

		(i)	references
                                            to sums of money are expressed in lawful currency of the United States of America, and “$”
                                            refers to U.S. dollars;

 

		(j)	the
                                            terms “will” and “shall” are to be interpreted to have the same meaning;
                                            and

 

		(k)	references
                                            to any gender shall be deemed to include masculine, feminine or neuter genders unless the
                                            context expressly requires otherwise. This Agreement will be construed without regard to
                                            any presumption or rule requiring construction or interpretation against the Party drafting
                                            an instrument or causing any instrument to be drafted.

 

		2.	NATURE
AND SCOPE OF COLLABORATION

 

		2.1.	Nature
                                            and Scope of Collaboration. During the Term and subject to the terms and conditions of
                                            this Agreement:

 

		(a)	Manufacture
                                            and Supply of FF81 Products. MS shall manufacture the FF81 Products in the Manufacturing
                                            Territory, in strict accordance with the Basic Specifications, using the FF81 Parts and shall
                                            sell and supply such FF81 Products exclusively to FF hereunder.

 

		(b)	Sale
                                            and Purchase of FF81 Products. Subject to Section 6.12, FF shall purchase from MS the
                                            FF81 Products for sale and distribution in the FF Sales Territory.

 

		(c)	Supply
                                            and Sourcing of FF81 Parts.

 

		(i)	FF
                                            shall manufacture and supply (or, in the case of FF Contract Supplier Parts, shall have manufactured
                                            and supplied) to MS each of the FF Supplied Parts.

 

		(ii)	MS
                                            shall manufacture and procure (or, in the case of MS Contract Supplier Parts, shall have
                                            manufactured and supplied to MS) each of the MS Supplied Parts.

 

(The
foregoing activities, collectively, the “FF81 Collaboration”; each of the transactions contemplated by the Parties
in respect to the FF81 Collaboration, a “FF81 Collaboration Project”).

 

		3.	COMMITTEES

 

		3.1.	Establishment
                                            of Committees. The Parties have established (or shall establish) various committees to
                                            oversee the FF81 Collaboration, project management and the other activities of the Parties
                                            under this Agreement (each, a “Committee”), as further set forth on Annex
                                            21. The responsibilities structure, escalation procedures, and composition of the Committees
                                            are set forth in Annex 21.

 

    Page 12

     

    

 

		4.	BASIC
SPECIFICATIONS AND VARIATIONS

 

		4.1.	Basic
                                            Specifications and Variations.

 

		(a)	Annex
                                            1 sets forth the initial Technical Vehicle Documentation and other Specifications of
                                            the FF81 Products (as the same is finalized pursuant to Section 4.1(b) in respect to each
                                            FF Sales Territory, the “Basic Specifications”). The main characteristics
                                            and data of the FF81 Products are specified in Annex 1, Annex 2, Annex 3, Annex
                                            28 and Annex 31.

 

		(b)	FF
                                            shall provide to MS the final Basic Specifications including any updates thereto in respect
                                            to each FF Sales Territory. Such Basic Specifications shall be provided by FF prior to homologation,
                                            and (without limiting FF’s right to update the Basic Specifications as otherwise set
                                            forth in this Agreement) may be updated after homologation to comply with Homologation Requirements.

 

		(c)	The
                                            Basic Specifications shall be subject to updates and modification from time to time during
                                            the Term as specified in writing by FF and subject to the Change Management Process, in which
                                            event Annex 1, together with other relevant terms of this Agreement, shall be modified
                                            to reflect such updates and modifications.

 

		(d)	MS
                                            shall not modify the Basic Specifications without FF’s prior written approval in each
                                            instance.

 

		(e)	MS
                                            shall manufacture the FF81 Products according to the Basic Specifications and shall inspect
                                            and test the FF81 Products prior to delivery to FF to ensure that such FF81 Products conform
                                            with the Basic Specifications in all respects in accordance with the terms of this Agreement.

 

		(f)	MS
                                            shall use commercially reasonable efforts to support during the development phase of the
                                            FF81 Products (and Basic Specifications) in accordance with Annex 6.

 

		5.	PRODUCTION
PLAN; FORECAST AND ORDER PROCESS

 

		5.1.	Timetable,
                                            Production Curve, Planned Volumes, Capacity.

 

		(a)	MS
                                            shall ensure to meet the SOP Korea in accordance with the master timetable in Annex 2
                                            (as updated pursuant to the following sentence, the “Master Timetable”).
                                            The date set forth in the Master Timetable for SOP Korea shall be subject to update by the
                                            Parties, which shall occur no later than six (6) months prior to the then anticipated month
                                            in which SOP Korea is anticipated to be achieved. MS shall conduct and complete all tasks
                                            and responsibilities assigned to it under this Agreement in accordance with the Master Timetable.
                                            MS shall immediately notify FF in writing, if it realizes that the Master Timetable cannot
                                            or is reasonably expected not to be met and shall propose, in writing, the appropriate and
                                            commercially reasonable measures to avoid or, if not possible, at least to mitigate such
                                            delay. Without prejudice to a Party’s responsibility for such delay, any Changes arising
                                            in connection with the foregoing shall be subject to the Change Management Process.

 

		(b)	Delay
                                            in SOP; Damages. [***]

 

		(c)	Delay
                                            in SOP; MS Remedy. [***]

 

		(d)	MS
                                            shall align the launch of the production as well as the ongoing production of the FF81 Products
                                            with the starting curve and staggering set out in Annex 13.

 

		(e)	FF
                                            shall pay MS the amounts contained on Annex 47 and in accordance with the payment
                                            schedule on Annex 47 to support the PSI and the planning and start-up of the production
                                            of the FF81 Products.

 

    Page 13

     

    

 

		5.2.	SOP,
                                            Initial Target Annual Production, Initial Forecast and Initial FF Price. Schedule
                                            5.2 sets forth:

 

		(a)	In
                                            respect of the SOP,

 

		(i)	the
                                            SOP for the Republic of Korea (the “SOP Korea”); and

 

		(ii)	the
                                            initial target annual production volume for the FF81 Products (the “Initial Target
                                            Annual Production”) for the Gunsan Plant;

 

		(b)	In
                                            respect to FF81 Products,

 

		(i)	a
                                            forecast, in respect to each FF Sales Territory, for the total number of units of the FF81
                                            Products that FF anticipates that it will require for SOP Month Korea and the first two (2)
                                            months thereafter (the “Initial FF Forecast”); and

 

		(ii)	the
                                            unit purchase price for such FF81 Products (the “Initial FF Price”) to
                                            be due and payable by FF to MS; provided, however, that, for the avoidance
                                            of doubt, the Initial FF Price per unit shall be calculated pursuant to Annex 32.

 

		(c)	In
                                            respect to FF Supplied Parts,

 

		(i)	a
                                            forecast for the total type and number of units of the FF Supplied Parts that MS then anticipates
                                            that it will require to manufacture the FF81 Products for (A) the SOP Month Korea and (B)
                                            the first two (2) month forecasts thereafter (collectively, the “Initial MS Forecast”);
                                            and

 

		(ii)	the
                                            unit purchase price for each such FF Supplied Part (the “Initial Parts Price”)
                                            to be due and payable by MS to FF; provided, however, that, for the avoidance
                                            of doubt, the Initial Parts Price shall be calculated pursuant to Annex 32.

 

		5.3.	Monthly
                                            Production Meeting.

 

		(a)	Except
                                            as otherwise set forth in Annex 21, on or about the fifth (5th) day of
                                            (i) the month immediately following the Effective Date but not later than four (4) months
                                            prior to the SOP Month Korea and (ii) each month thereafter during the Term, the Cooperation
                                            Board shall conduct, and CB Members shall have, a monthly production meeting (each, a “Monthly
                                            Production Meeting”), which may be held in person or by conference call or video
                                            conference.

 

		(b)	At
                                            the Monthly Production Meeting and in respect to the Manufacturing Territory, the Cooperation
                                            Board shall (i) review and discuss in good faith the latest forecasts provided for the FF81
                                            Products, the supply chain, and other requirements or production related issues of the Parties,
                                            including the Lead Time, and (ii) jointly determine and prepare a plan for the production
                                            of the FF81 Products for the Manufacturing Territory (each, a “Production Plan”),
                                            which such Production Plan shall set forth the Parties’ agreement on the latest forecasts
                                            for a given month, or update or modify the existing Production Plan.

 

		(c)	Each
                                            Production Plan may be modified or amended by the Parties, by mutual written consent, at
                                            any time during the Term.

 

		5.4.	Annual
                                            Production Meeting; Target Annual Production.

 

		(a)	Except
                                            as otherwise set forth in Annex 21, on or prior to the date that is four (4) months
                                            prior to the first anniversary of the SOP Month Korea, and each subsequent anniversary thereafter,
                                            the Cooperation Board shall conduct, and the CB Members shall have, an annual production
                                            meeting (the “Annual Production Meeting”) to (i) review and discuss the
                                            target annual production volume for the FF81 Products for each FF Sales Territory applicable
                                            to the Manufacturing Territory for the one-year period commencing on such anniversary date
                                            to be prepared by FF for the FF81 Products and (ii) prepare and submit to the Parties for
                                            joint determination by the Parties a proposal for such target annual production (upon such
                                            joint determination, together with the Initial Target Annual Production, each, a “Target
                                            Annual Production”).

 

    Page 14

     

    

 

		(b)	The
                                            Target Annual Production shall be for production planning purposes only and non-binding at
                                            all times and may be modified or amended by the Parties at any time during the Term.

 

		5.5.	Monthly
                                            FF Forecast of FF81 Products. The following general terms shall govern in respect to
                                            the monthly forecasting and ordering procedure applicable to FF and the FF81 Products.

 

		(a)	Initial
                                            FF Forecast. The Initial FF Forecast for the SOP Month Korea shall constitute the forecast
                                            for (i) such SOP Month Korea and (ii) each of the subsequent two (2) months after the SOP
                                            Month Korea, which shall be subject to revision by subsequent Monthly FF Forecasts in accordance
                                            with Section 5.5(b).

 

		(b)	Monthly
                                            FF Forecast. On or prior to the fifth (5th) day of each month during the Term (each,
                                            a “FF Submission Month”), commencing with the fourth (4th) month prior
                                            to the SOP Month Korea, FF shall provide a monthly forecast for each of the six (6) months
                                            commencing with the fifth (5th) month after the applicable FF Submission Month, (each, a
                                            “Monthly FF Forecast”), for the total number of units of the FF81 Products
                                            that it then anticipates that it will require in respect to the applicable FF Sales Territory
                                            during each of such six (6) months (the “FF Volume Requirements”). Each
                                            such Monthly FF Forecast shall not deviate from the same six (6) months in the then
                                            current Target Annual Production by more than the Deviation Percentage, unless otherwise
                                            agreed to by MS, such agreement not to be unreasonably withheld, conditioned or delayed (the
                                            “Deviation Percentage Measurement Period”). Each Monthly FF Forecast shall
                                            be subject to confirmation or further updates by the Parties during the Monthly Production
                                            Meetings and shall be set forth in the corresponding Production Plan. The first (1st) month
                                            of each Monthly FF Forecast shall constitute the final forecast for such month. The last
                                            five (5) months of each Monthly FF Forecast shall be subject to adjustment by each of the
                                            five (5) subsequent Monthly FF Forecasts. Each Monthly FF Forecast issued by FF shall supersede
                                            any prior forecast covering the same months. Schedule 5.5(b) (Forecast and
                                            FF Order Schedule) sets forth an illustration of the Monthly FF Forecast process and mechanism
                                            during the Term.

 

		5.6.	Product
                                            Purchase Orders for FF81 Products.

 

		(a)	Monthly
                                            Product Purchase Order. On or prior to the fifth (5th) day of each FF Submission Month,
                                            FF shall place a monthly purchase order for the FF81 Products in form substantially similar
                                            to the form described in Schedule 5.6(a) (Form of Product Purchase Order) (the
                                            “Product Purchase Order”) for the fourth (4th) month after such FF Submission
                                            Month with the first (1st) such Product Purchase Order being for the SOP Month Korea. Subject
                                            to Section 5.7, each Product Purchase Order shall be consistent with the corresponding Production
                                            Plan. Schedule 5.5(b) (Forecast and FF Order Schedule) sets forth an illustration
                                            of the Product Purchase Order process and mechanism during the Term.

 

		(b)	Form
                                            of Product Purchase Order. Each Product Purchase Order shall specify: (i) the quantity
                                            of the units of the FF81 Products ordered (ii) the Price of each unit of the FF81 Products
                                            ordered, and (iii) the delivery terms (including the Lead Time), scheduled delivery date
                                            and delivery location, in form substantially similar to the form described in Schedule
                                            5.6(a) (Form of Product Purchase Order). The Product Purchase Order shall be in electronic
                                            form and submitted via EDI.

 

		(c)	Consequence
                                            of Termination. In the event that either Party issues a Termination Notice under Section
                                            16.2 or 16.3 to the other Party, the Parties shall enter into good faith discussions of any
                                            modifications or amendments to the foregoing general rules, including Schedule 5.5(b)
                                            (Forecast and FF Order Schedule), to reflect the Parties’ agreements on consequences
                                            of such termination of this Agreement, including any post-termination rights and obligations
                                            of the Parties in respect to any volume requirements during post-termination period, consistent
                                            with Section 16.4.

 

    Page 15

     

    

 

		5.7.	FF
                                            Deviation from Production Plan; Adjustments; Delivery Rescheduling; Cancellations.

 

		(a)	Permitted
                                            FF Deviations. FF may request that the aggregate number of the units of the FF81 Products
                                            under a Product Purchase Order for a given month deviate from the corresponding month in
                                            the Production Plan (such deviated amount, the “FF Deviation”) so long
                                            as such FF Deviation is (i) a decrease in the quantity ordered by less than or equal
                                            to the Deviation Percentage (other than due to the failure of MS to perform its obligations
                                            under this Agreement, in which event FF may decrease the quantity ordered without regard
                                            to the Deviation Percentage), (ii) an increase in quantity ordered by less than or
                                            equal to the Deviation Percentage, (iii) is an increase in the quantity ordered by
                                            more than the Deviation Percentage and FF has requested at least one hundred eighty
                                            (180) days prior to the scheduled delivery date, or (iv) otherwise agreed to by MS, such
                                            agreement not to be unreasonably withheld, conditioned or delayed.

 

		(b)	FF
                                            Deviation Adjustments. If (i) FF (A) deems that the FF Deviation for a given month is
                                            likely to be greater than the Deviation Percentage and (B) fails to provide proper notice
                                            in accordance with Section 5.7(a) or (ii) such FF Deviation is not otherwise authorized hereunder,
                                            FF shall promptly inform MS thereof in writing prior to issuing the Product Purchase Order
                                            for such month. If such FF Deviation is agreeable to MS in writing, FF shall issue a Product
                                            Purchase Order based on such FF Deviation which shall then be deemed accepted by MS. If such
                                            FF Deviation is not acceptable to MS, then the Parties shall discuss in good faith and use
                                            commercially reasonable efforts to agree to alternative arrangements, including capacity
                                            allocations, provided that the foregoing shall not limit MS’s right to reject the unpermitted
                                            FF Deviation portion of the Product Purchase Order based on non-conformity to the corresponding
                                            Production Plan.

 

		(c)	Delivery
                                            Rescheduling.

 

		(i)	Rescheduling
                                            Notice. Subject to Section 5.7(c)(ii) below, from time to time during the Term, FF may
                                            request that the delivery date for any FF81 Product be rescheduled to a later date than as
                                            set forth in the respective Product Purchase Order as accepted by MS by issuing a written
                                            notice to MS no less than [***] days prior to its original delivery date (the “Rescheduling
                                            Notice”). The new delivery date specified in such Rescheduling Notice shall then
                                            become the new delivery date for the applicable FF81 Product in such Product Purchase Order,
                                            which shall in all other respects remain in full force and effect.

 

		(ii)	Rescheduling
                                            Fee.

 

		(A)	If
                                            the new delivery date specified in such Rescheduling Notice is less than or equal to [***]
                                            days after the original delivery date, then [***].

 

		(B)	If
                                            the new delivery date specified in such Rescheduling Notice is more than [***] days after
                                            the original delivery date (such period, a “Delayed Delivery Period”),
                                            then MS shall be entitled to [***].

 

		(C)	If
                                            the new delivery date specified in such Rescheduling Notice is more than sixty (60) days
                                            after the original delivery date, then MS may reject any such request to reschedule the delivery
                                            date.

 

		(d)	Cancellation
                                            of Product Purchase Order.

 

		[***]	

 

		(ii)	In
                                            the event of any quality issues arising in respect to any FF81 Products (or FF81 Parts therein)
                                            under the cancelled Product Purchase Order, the Parties shall undertake joint investigation
                                            to determine (A) the nature and scope of such quality issues, (B) remedial measures that
                                            are required and (C) the allocation of responsibilities between the Parties.

 

    Page 16

     

    

 

		5.8.	Confirmation,
                                            Acceptance and Rejection of Product Purchase Orders.

 

		(a)	Confirmation.
                                            Subject to the terms of this Section 5.8, MS shall accept or reject the Product Purchase
                                            Order by issuing a written acceptance or rejection to FF (each, a “Confirmation”)
                                            not later than [***] upon receipt of such Product Purchase Order. Each Confirmation shall
                                            (i) reference the applicable Product Purchase Order number, (ii) confirm acceptance or, subject
                                            to other terms of this Agreement, rejection of the Product Purchase Order and (iii) set forth,
                                            in the case of acceptance, the effective date of acceptance, and in the case of rejection,
                                            the basis for such rejection.

 

		(b)	Acceptance
                                            of Product Purchase Order. If MS fails to issue a Confirmation for a Product Purchase
                                            Order within the time period set forth paragraph (a) above or otherwise commences performance
                                            under such Product Purchase Order, MS shall be deemed to have accepted such Product Purchase
                                            Order; provided, that performance by MS under such accepted Product Purchase Order shall
                                            be delayed in the case of an Excusable Delay by FF subject to Section 19. Upon acceptance
                                            by MS of a Product Purchase Order, the terms of such Product Purchase Order shall be incorporated
                                            into this Agreement and shall be binding on the Parties.

 

		(c)	Rejection
                                            of Product Purchase Order. Subject to paragraph (d) below, MS may only reject a Product
                                            Purchase Order if:

 

		(i)	there
                                            is a material non-conformity between the terms of the Product Purchase Order and the corresponding
                                            terms of the Production Plan then in effect, and such non-conformity is not authorized hereunder
                                            or cured by FF within five (5) Business Days following written notice from MS thereof; or

 

		(ii)	such
                                            rejection is otherwise expressly authorized under this Agreement.

 

		5.9.	Monthly
                                            MS Forecast for FF Supplied Parts. The following general terms shall govern in respect
                                            to the Monthly Forecast procedure applicable to MS for its purchase of the FF Supplied Parts.

 

		(a)	Initial
                                            MS Forecast. The Initial MS Forecast for the SOP Month Korea, as revised, and except
                                            as agreed to by the Parties otherwise, shall constitute the forecast for (i) the SOP Month
                                            Korea and (ii) each of the two (2) months after the SOP Month Korea, which shall be subject
                                            to revision by subsequent Monthly MS Forecasts in accordance with paragraph (b) below.

 

		(b)	Monthly
                                            MS Forecast. On or prior to the fifth (5th) day of each month during the Term (the “MS
                                            Submission Month”) commencing with the fourth (4th) month prior to the SOP Month
                                            Korea, MS shall provide a monthly forecast for each of the six (6) months commencing with
                                            the fifth (5th) month after the MS Submission Month which, for the initial MS Submission
                                            Month, shall be the month immediately following the SOP Month Korea (each, a “Monthly
                                            MS Forecast”), for the total number of units of the FF Supplied Parts that it then
                                            anticipates that it will require to produce the FF81 Products during each of such six (6)
                                            months (the “MS Volume Requirements”), which Monthly MS Forecast shall
                                            be generally consistent with the same six (6) months in the then current Target Annual Production.
                                            Each Monthly MS Forecast shall be subject to confirmation or further updates by the Parties
                                            during the Monthly Production Meetings and shall be set forth in the corresponding Production
                                            Plan. Each such MS Forecast as confirmed under the Production Plan, together with respective
                                            parts order by MS, shall be subject to further changes based on the actual amount and timing
                                            of Product Purchase Orders placed by FF in respect to the FF81 Products. The first (1st)
                                            month of each Monthly MS Forecast shall constitute the final forecast for such month. The
                                            last five (5) months of each Monthly MS Forecast shall be subject to adjustment by each of
                                            the five (5) subsequent Monthly MS Forecasts. Each Monthly MS Forecast issued by MS shall
                                            supersede any prior forecast covering the same months. Schedule 5.5(b) (Forecast
                                            and FF Order Schedule) sets forth an illustration of the Monthly MS Forecast process and
                                            mechanism during the Term.

 

    Page 17

     

    

 

		5.10.	Minimum
                                            Volume Commitment; Non-Binding Nature.

 

		(a)	Minimum
                                            Volume Commitment. Subject to (i) MS’s full compliance with the terms of this Agreement,
                                            (ii) MS’s ability to supply the FF81 Products to FF as and when ordered by FF in accordance
                                            with the production timelines, volumes, quality, prices, technology, delivery schedules and
                                            other requirements of FF from time to time in accordance with this Agreement and (iii) any
                                            impact of a Force Majeure Event, FF agrees that the total volume of the FF81 Products to
                                            be purchased by FF during (A) the Initial Year and (B) each Subsequent Year (or portion thereof)
                                            during the Term shall not be less than [***] of the FF’s global volume set forth
                                            in Annex 31, in the case of the Initial Year, and the corresponding global volume,
                                            in the case of each Subsequent Year (the “Minimum Volume Commitment”).

 

		(b)	Non-Binding
                                            Nature. Subject to the Parties rights and obligations concerning the Minimum Volume Commitment
                                            set forth in Section 5.10(a), the limitation on deviation of Monthly FF Forecast under Section
                                            5.5(b) and the production capacity and product availability requirements under Section 5.12,
                                            which shall be binding in all respects, for the avoidance of doubt and notwithstanding any
                                            provision in this Agreement to the contrary, (i) the Initial Target Annual Production, and
                                            each Target Annual Production, together with any forecasts provided by a Party hereunder,
                                            including the Initial Forecast and the Monthly Forecasts, are estimates only, intended for
                                            production planning purposes only and accordingly shall not be binding on any Party and (ii)
                                            no such forecasts shall constitute any commitment of such Party unless the agreed between
                                            the Parties and set forth in the corresponding Production Plan.

 

		5.11.	Supply
                                            of FF81 Products or MS Supplied Parts for Special Reasons.

 

		(a)	Special
                                            Order. In the event FF requires any number of FF81 Products or MS Supplied Parts due
                                            to special reasons that are not the fault of MS, including damage to any FF81 Product after
                                            the delivery, FF may issue to MS a separate order (each, a “Special Order”),
                                            which such Special Order shall set forth: (i) the description of such FF81 Product (or such
                                            MS Supplied Parts), (ii) quantity ordered, and (iii) terms of delivery, including required
                                            delivery date and delivery location, in form substantially similar to the form described
                                            in Schedule 5.6(a) (Form of Product Purchase Order) or in such other form as
                                            may be agreed between the Parties.

 

		(b)	Allocation
                                            of Cost. The cost for such Special Order (including the price of such FF81 Products or
                                            MS Supplied Parts and the cost of delivery) shall be borne by FF.

 

		(c)	Format.
                                            The Special Order shall be in electronic form submitted via EDI.

 

		(d)	Acceptance
                                            and Rejection of Special Order; Confirmation.

 

		(i)	Confirmation.
                                            MS shall issue a confirmation in form similar to the Confirmation in respect to each Special
                                            Order issued hereunder within two (2) Business Days following its receipt thereof. Each such
                                            confirmation shall (A) reference the applicable Special Order number and (B) confirm acceptance
                                            or, subject to other terms of this Agreement, rejection of the Special Order and (C) set
                                            forth, in the case of acceptance, the effective date of acceptance, and in the case of rejection,
                                            the basis for such rejection.

 

    Page 18

     

    

 

		(ii)	Acceptance
                                            of Special Order. If MS fails to issue a confirmation for a Special Order within the
                                            time set forth above or otherwise commences performance under such Special Order, MS shall
                                            be deemed to have accepted such Special Order.

 

		(iii)	If
                                            MS cannot meet the terms set forth in a Special Order, including the quantity and the delivery
                                            date, it shall immediately inform FF thereof and propose alternative terms. If such alternative
                                            terms are agreeable to FF in its sole and absolute discretion, FF shall issue a revised Special
                                            Order setting forth such alternative terms which shall then be deemed accepted by MS.

 

		(iv)	Notwithstanding
                                            the foregoing and for the avoidance of doubt, in no event shall MS be obligated to (A) accept
                                            any Special Order or otherwise (B) supply to FF the FF81 Products or the MS Supplied Parts
                                            under such Special Order unless and until it has accepted such Special Order.

 

		(e)	Shipping
                                            and Delivery. All Special Orders for the FF81 Products and MS Supplied Parts shall be
                                            delivered by INCOTERMS EXW (Gunsan Plant).

 

		5.12.	Production
                                            Capacity and Product Availability.

 

		(a)	Product
                                            Supply Capacity. MS shall maintain sufficient manufacturing capabilities and capacity
                                            to supply FF81 Products to FF in accordance with the Initial Target Annual Production, each
                                            Target Annual Production, the Initial Forecast, Monthly Forecasts and Product Purchase Orders
                                            that FF may issue from time to time, all in accordance with the terms of this Agreement.
                                            Without limiting the other notice requirements set forth herein, MS shall notify FF immediately
                                            in the event MS has reason to believe it may not be able to fulfill any Monthly Forecasts
                                            or Product Purchase Orders due to capacity

 

		(b)	Parts
                                            Supply Capacity. MS shall (at its sole cost) maintain timely supply of sufficient quantities
                                            of FF81 Parts (provided that with respect to the FF Supplied Parts, MS’s obligation
                                            hereunder shall be limited to timely ordering and maintaining reasonable safety stock of
                                            such FF Supplied Parts) to ensure sufficient manufacturing capabilities and capacity to supply
                                            FF81 Products to FF in accordance with the terms of this Agreement. The FF81 Parts shall
                                            be supplied to or procured by MS in accordance with Section 9.3. .

 

		(c)	Change
                                            in Production Capacity. [***] In the event of a work stoppage, other labor problems,
                                            or more generally any circumstances at MS’s facilities adversely affecting MS’s
                                            ability to supply any FF81 Products, whether or not a Force Majeure Event, MS shall promptly
                                            provide FF written notice of the same and shall use commercially reasonable efforts to locate
                                            reliable alternate sources and suppliers of raw materials and components meeting applicable
                                            quality standards and in sufficient quantity to ensure a continued supply during such difficulties;
                                            provided, that no such circumstances shall relieve MS of its obligations hereunder,
                                            except to the extent such circumstances constitute a Force Majeure Event; provided,
                                            further that in no event shall MS be liable to FF if such change in production capacity is
                                            due to an Excusable Delay.

 

		(d)	FF
                                            Remedy. [***]

 

		(e)	[***]

 

		5.13.	Discontinuation
                                            of FF Supplied Parts or FF81 Model; No Discontinuation of Production.

 

		(a)	In
                                            the event that FF decides to discontinue (i) the manufacture or supply of any of the FF Supplied
                                            Parts, (ii) the sale and distribution of the FF81 Model in any FF Sales Territory or (iii)
                                            the FF81 Model (the “Discontinuation”) for any reason, it shall notify
                                            MS in writing not later than [***] prior to the effective date of such Discontinuation, unless
                                            such Discontinuation is required by Applicable Laws, in which event FF shall give such advance
                                            notice to MS as is reasonably practicable.

 

    Page 19

     

    

 

		(b)	If
                                            Discontinuation is for the FF81 Model, without prejudice to termination of the Agreement
                                            under Section 16.2, the Parties shall discuss in good faith and agree to the terms governing
                                            the consequences of such Discontinuation. Notwithstanding the foregoing, upon any such Discontinuation
                                            by FF, FF shall reimburse MS for (i) the unrecovered balance of PSI (amortized into Manufacturing
                                            Cost) and (ii) any other actual and reasonable, documented out-of-pocket costs and expenses
                                            paid to third parties by MS directly in relation to the timely performance of its obligations
                                            hereunder that cannot be refunded, mitigated or avoided through commercially reasonable efforts.
                                            FF is not responsible for reimbursing MS for any Structural Investments, including upon Discontinuation,
                                            unless any such reimbursement is specifically approved in writing by FF in advance, provided
                                            that the Parties shall discuss in good faith, and FF shall consider for reimbursement, if
                                            and to what extent any unrecovered portion of Structural Investments related to the Manufacturing
                                            Cost of the FF81 Product shall be reimbursed by FF.

 

		(c)	[***]

 

		5.14.	Master
                                            Agreement; Terms of Agreement and Product Purchase Orders and Parts Purchase Orders.

 

		(a)	This
                                            Agreement is intended as a master agreement between MS and FF in respect to the sale and
                                            purchase between the Parties of the FF81 Products and certain FF81 Parts setting forth all
                                            terms in respect thereto other than the specific terms (delivery dates, quantities, and delivery
                                            locations) to be set forth in each of the Product Purchase Orders, Special Orders or the
                                            Parts Purchase Order.

 

		(b)	Notwithstanding
                                            anything in this Agreement,

 

		(i)	any
                                            Product Purchase Orders or Confirmation, the terms and conditions of this Agreement shall
                                            constitute all of the terms and conditions between the Parties relating to the subject matter
                                            of this Agreement unless otherwise agreed to in writing by the Parties;

 

		(ii)	any
                                            terms and conditions set forth on any document or documents issued by a Party either before
                                            or after the Effective Date are hereby explicitly rejected and disregarded by the other Party,
                                            and any such terms and conditions shall be inapplicable to any sale and purchase made by
                                            and between FF and MS and shall not be binding in any way on either Party;

 

		(iii)	if
                                            any terms and conditions contained in a Product Purchase Order or Parts Purchase Order conflict
                                            with any terms and conditions contained in this Agreement, the applicable term or condition
                                            of this Agreement will prevail and such contrary or different terms will have no force or
                                            effect; and

 

		(iv)	any
                                            contrary or different terms from this Agreement (other than delivery dates, quantities, and
                                            delivery locations) contained in any Product Purchase Orders, Parts Purchase Orders, Confirmation
                                            or any other communications between the Parties, and any other attempt to modify, supersede,
                                            or otherwise alter this Agreement, shall be deemed rejected and shall not modify this Agreement
                                            or be binding on the Parties unless such terms have been agreed to by both Parties in writing.

 

		5.15.	Spare
                                            Parts.

 

During
the Term or after the EOP or expiration or termination of this Agreement, FF shall procure all of the FF81 Parts to fulfill its post-sale
and past model service and replacement requirements (such post-sale FF81 Parts, the “Spare Parts”) directly from the
suppliers of such Spare Parts; provided that during the Term (a) MS will, upon request by FF in writing, purchase Spare Parts from MS
Contract Suppliers for resale to FF and (b) MS shall provide all other cooperation reasonably requested by FF with respect to its obtaining
Spare Parts. Without limitation, MS shall provide FF with a list of MS Contract Suppliers, which such list shall (i) indicate the MS
Contract Supplier Parts produced by the applicable MS Contract Supplier as well as the respective price offered to MS and (ii) be continuously
updated by MS during the Term on a yearly basis. After the EOP or upon expiration or termination of this Agreement, MS will have no obligation
to purchase any Spare Parts for resale to FF. Notwithstanding the foregoing, at least four (4) years prior to EOP, the Parties shall
discuss and agree in good faith any the process by which MS will supply to FF after the Term assembled Spare Parts manufactured by MS.

 

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		6.	HOMOLOGATIONS;
MANUFACTURING AND ASSEMBLY OF PRODUCTS

 

		6.1.	Homologation;
                                            Product Compliance.

 

		(a)	Product
                                            Compliance.

 

		(i)	FF
                                            shall:

 

		(A)	be
                                            solely responsible for complying with (and ensuring that the Basic Specifications for all
                                            FF81 Products for such FF Sales Territory comply with) the Homologation Requirements in such
                                            FF Sales Territory; and

 

		(B)	undertake
                                            the development of all necessary Improvements in respect to FF81 Products, with the cooperation
                                            of MS, to ensure that the design of FF81 Products shall be in compliance with all Homologation
                                            Requirements in each applicable FF Sales Territory.

 

		(ii)	MS
                                            shall:

 

		(A)	use
                                            commercially reasonable efforts to advise FF of all Homologation Requirements of which MS
                                            is aware;

 

		(B)	assist
                                            FF with FF’s compliance with all Homologation Requirements, including development of
                                            necessary Improvements in respect to FF81 Products to ensure such compliance, provided that
                                            all costs incurred by MS in connection with such development shall be paid for by FF; and

 

		(C)	manufacture
                                            and produce the FF81 Products in compliance with the Basic Specifications and comply with
                                            all other requirements, quality standards and descriptions reasonably required, furnished
                                            or specified by FF or required by Applicable Law that are necessary for the Parties to carry
                                            out FF81 Collaboration (the “Other FF Requirements and Standards”).

 

		(b)	Exclusive
                                            Manufacturer Status. [***]

 

		(c)	IMDS.
                                            All materials used for the manufacture of the FF81 Parts and FF81 Products, including all
                                            sub-components, supply parts and auxiliary substances, shall be recorded with the IMDS. FF
                                            shall be responsible for the reporting and recording of all materials delivered by FF and
                                            FF Contract Suppliers and MS shall be responsible for the reporting and recording of all
                                            materials delivered by MS and MS Contract Suppliers, each in accordance with the IMDS. At
                                            such time as reasonably determined by FF, the Parties shall cooperate in the creation of
                                            a report listing all substances included in the FF81 Products.

 

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		6.2.	Quality
                                            Program and Assurance.

 

		(a)	Annex
                                            19 sets forth the mutually agreed upon quality assurance program (the “Quality
                                            Program”) for the FF81 Products.

 

		(b)	FF
                                            shall ensure that the FF Supplied Parts shall be manufactured in accordance with the Quality
                                            Program, and MS shall cooperate with FF in FF’s efforts in respect thereto.

 

		(c)	MS
                                            shall ensure that the FF81 Products shall be manufactured in accordance with the Quality
                                            Program, and FF shall cooperate with MS in MS’s efforts in respect thereto.

 

		6.3.	Prototype;
                                            Quality Testing; Validation Testing.

 

		(a)	Manufacture
                                            of Prototype. Pursuant to the timeline set forth in Annex 5, but subject to timely
                                            delivery by FF to MS of the Basic Specifications for each respective FF Sales Territory and
                                            other provisions of this Section 6.3, MS shall undertake to manufacture and make available
                                            to FF the prototypes for the FF81 Products for each build phase listed in Annex 5
                                            (“Prototypes”).

 

		(b)	Procurement
                                            of Prototype Parts. The Parties shall determine which Party shall procure each of parts
                                            and components that is necessary for MS to manufacture the Prototypes (each such part, a
                                            “Prototype Part”). Pursuant to the timeline for the Prototypes and Prototype
                                            Parts set forth in Annex 5 and after delivery by FF to MS of the complete and final
                                            Basic Specifications for each respective FF Sales Territory, which Basic Specifications shall
                                            take into account and comply with the Homologation Requirements (in accordance with Section
                                            6.1) applicable to such FF Sales Territory, a Party that is responsible for procuring such
                                            Prototype Parts shall place a purchase order to each supplier for such Prototype Parts in
                                            the numbers set forth in Annex 5. All Prototype Parts shall be delivered by INCOTERMS
                                            DDP (Gunsan Plant).

 

		(c)	Repair,
                                            Upgrade and Conversion of Prototypes. MS shall undertake (i) to make all repairs to Prototypes
                                            as well as all upgrades and conversions requested by FF and (ii) to complete the requested
                                            upgrades and conversions before the agreed handover deadline. Any costs and expenses to be
                                            incurred by MS in connection with the foregoing, for which FF shall reimburse MS, shall be
                                            agreed by FF in advance.

 

		(d)	Quality
                                            Testing. Not later than [***] after completion of the manufacturing of the Prototypes,
                                            MS shall complete quality testing (the “Quality Testing”) on the Prototypes.
                                            Pursuant to Annex 5, a vehicle usage contract must be executed with respect to all
                                            Prototypes used by MS in Quality Testing.

 

		(e)	Delivery
                                            of Prototypes; Quality Testing Results. Not later than [***] after completion of the
                                            Quality Testing, MS shall (i) deliver to FF the Prototypes used in the Quality Testing, which
                                            such delivery shall be by INCOTERMS EXW (Gunsan Plant) and (ii) furnish to FF the results
                                            of the Quality Testing.

 

		(f)	Validation
                                            Process.

 

		(i)	Validation
                                            Testing. Not later than [***] after delivery of the Prototypes and furnishing of the
                                            results of the Quality Testing or [***] from the date the Prototypes are delivered by FF,
                                            in FF’s reasonable discretion, to another location for assessment (which such delivery
                                            by FF shall occur as soon as reasonably practicable after delivery of FF), as applicable,
                                            FF shall assess (or engage, in its discretion, one or more third parties to assess, in whole
                                            or part) whether each such Prototypes conform to the Basic Specifications (the “Validation
                                            Testing”) and furnish to MS the results of the Validation Testing.

 

		(ii)	Notice
                                            of Validation. If the results of the Validation Testing demonstrate that the Prototypes
                                            are in conformity with the Basic Specifications, FF shall promptly notify MS in writing thereof
                                            (the “Notice of Validation”). Notwithstanding the Notice of Validation,
                                            MS shall not manufacture any FF81 Products unless and until MS has obtained the Approval
                                            pursuant to Section 6.5.

 

    Page 22

     

    

 

		(iii)	Notice
                                            of Validation Failure. If the results of the Validation Testing demonstrate that any
                                            of the Prototypes is not in conformity with the Basic Specifications, FF shall promptly
                                            notify MS in writing thereof (the “Notice of Validation Failure”), together
                                            with detailed reasons for such non-conformity, in which event the Parties shall conduct a
                                            joint assessment of such non-conformity (the “Joint Assessment”).

 

		(iv)	Remedial
                                            Measures.

 

		(A)	If
                                            and to the extent that the results of the Joint Assessment indicate that the non-conformity
                                            is attributable to a Party, such Party shall take all necessary and reasonable measures (the
                                            “Remedial Measures”) to address such failure, provided that the Parties
                                            shall use commercially reasonable efforts to complete all Remedial Measures, whether independently
                                            or jointly, as promptly as possible following completion of the Validation Testing leading
                                            to such Remedial Measures, or if applicable, by the date mutually agreed upon by the Parties
                                            (the “Remedial Measures Completion Date”).

 

		(B)	Immediately
                                            upon completion of the Remedial Measures, a Party that is responsible for undertaking the
                                            Remedial Measure shall place a purchase order with each supplier (or otherwise procure) for
                                            all additional Prototype Parts that are necessary for MS to manufacture the same number of
                                            new Prototypes as initially required. Upon delivery of such additional Prototype Parts and,
                                            if the non-conformity was due to the Basic Specifications, the receipt by MS of revised Basic
                                            Specifications, MS shall (x) manufacture the same number of new Prototypes as initially required
                                            (each, a “Corrected Prototype”), (y) conduct new Quality Testing of such
                                            Corrected Prototypes and (z) deliver to FF the Corrected Prototypes together with the results
                                            of such new Quality Testing for new Validation Testing, in each case as provided above.

 

		(C)	The
                                            foregoing steps shall be repeated until the Prototypes (or Corrected Prototypes) satisfy
                                            the Validation Testing; provided, however, that, in the event the Parties are
                                            unable to complete any Remedial Measures by the Remedial Measures Completion Date or within
                                            [***] following completion of the Validation Testing leading to such Remedial Measures, whichever
                                            comes later: [***].

 

		(g)	Allocation
                                            of Costs and Expenses.

 

		(i)	The
                                            costs and expenses incurred by the Parties in carrying out the procurement of the Prototype
                                            Parts, the manufacture of the Prototypes, the conduct of the Quality Testing, delivery of
                                            the Prototypes, the conduct of the Validation Testing as described above shall be allocated
                                            between the Parties as set forth in Annex 5. The costs for Prototypes payable by FF
                                            to MS shall be itemized with full transparency of the costs therefor and shall be payable
                                            according to a payment plan mutually agreed by the Parties based on the achievement of agreed-upon
                                            milestones, provided that, as a general rule, the price for each Prototype to be quoted by
                                            MS shall consist of the sum of (A) manufacturing cost (including cost incurred by MS in connection
                                            with the Quality Testing), (B) material cost and (C) mark-up.

 

    Page 23

     

    

 

		(ii)	Special
                                            Prototype Testing. Following procedure shall apply to a special Prototype testing.

 

		(A)	FF
                                            shall provide MS with special Prototype testing specifications and requirements;

 

		(B)	MS
                                            shall then provide FF with the estimated cost for conducting such special testing and other
                                            related works;

 

		(C)	the
                                            Parties shall mutually agree on the details of such special testing and such other actions
                                            to be undertaken by MS;

 

		(D)	MS
                                            shall undertake all such special testing and actions as mutually agreed between the Parties;
                                            and

 

		(E)	All
                                            costs and expenses incurred by MS in carrying of the foregoing special Prototype testing
                                            shall be reimbursed in full by FF.

 

		(iii)	Correcting
                                            Prototypes. Notwithstanding the foregoing and any provision in this Agreement to the
                                            contrary, a Party that is responsible for the non-conformity or other Validation Testing
                                            failure of any Prototype shall be solely responsible for all costs and expenses incurred
                                            by such Party and the other Party in carrying out or otherwise conducting any Remedial Measures
                                            and subsequent manufacturing or procurement of the new Prototype Parts, Corrected Prototypes,
                                            Quality Testing and Validation Testing.

 

		(h)	Invoice;
                                            Payment Terms. Promptly upon delivery by MS of Prototypes conforming with the Basic Specifications,
                                            MS shall issue an invoice to FF for the Prototypes and all other amounts due by FF to MS,
                                            which shall be paid by FF as follows:

 

	[***]
	 	[***]
	[***]	 	[***]
	[***]	 	[***]
	[***]	 	[***]
	[***]	 	[***]

 

		(i)	Title
                                            to and Ownership of Prototypes.

 

		[***]	

 

		6.4.	Manufacturing
                                            of FF81 Products; Manufacturing Territory.

 

		(a)	Manufacturing
                                            of FF81 Products. Subject to licenses granted by FF to MS under Section 15.4 and the
                                            other obligations of MS hereunder, MS shall manufacture the FF81 Products at its Gunsan Plant
                                            in accordance with the Basic Specifications provided by FF in compliance with the Applicable
                                            Law.

 

    Page 24

     

    

 

 

		(b)	Other
                                            MS Plant. Notwithstanding the foregoing or any other provision in this Agreement to the
                                            contrary, MS may utilize any one or more of the manufacturing facilities operated by it or
                                            any of its Affiliates, other than the Gunsan Plant, located within or outside the
                                            Republic of Korea (each, an “Other MS Plant”) in the manufacturing of
                                            the FF81 Products or any component thereof, if the utilization of such Other MS Plant by
                                            MS is preapproved by FF in writing in each instance, which approval may be granted for the
                                            following reasons (such facilities authorized by FF to be operated by MS hereunder, together
                                            with the Gunsan Plant, collectively the “Approved MS Plants”):

 

		(i)	anticipated
                                            required production volume for any of the FF81 Products, or any component thereof, for a
                                            given production period exceeds (or is expected to exceed) the then manufacturing capacity
                                            of the Gunsan Plant for such FF81 Product;

 

		(ii)	it
                                            is beneficial to the Parties due to the proximity of the geographical location of such manufacturing
                                            facility to the applicable FF Sales Territory in which the final FF81 Products will be sold
                                            to end-customers;

 

		(iii)	such
                                            part of manufacturing or assembly relates to hot stamping and sheet metal processing related
                                            works, and such Other MS Plant is located within the Republic of Korea; or

 

		(iv)	it
                                            is necessary to avoid the adverse impact on MS of a Force Majeure Event for the period of
                                            time that the impact of such Force Majeure Event continues to effect the ability of MS to
                                            perform its obligations hereunder; or

 

		(v)	other
                                            reasons pre-approved in writing by FF, such approval not to be unreasonably withheld.

 

		(c)	Effects
                                            on Other Provisions. If any Approved MS Plant utilized by MS is located outside the Republic
                                            of Korea, (i) such territory shall constitute the Manufacturing Territory for the purpose
                                            of this Agreement in respect to such FF81 Products and the manufacturing license granted
                                            under Section 15.4 shall be extended to such territory on a non-exclusive basis and (ii)
                                            any reference herein to Gunsan Plant shall be deemed to refer to the applicable Approved
                                            MS Plant as the context may require.

 

		(d)	Manufacturing
                                            Requirements; Change in Manufacturing Locations. Upon FF’s written request, MS
                                            shall provide FF with specific information, in such detail as FF may reasonably request,
                                            as to the location(s) and method(s) of manufacturing the FF81 Products, or components thereof,
                                            at any Approved MS Plant. All manufacturing activities of MS shall conform to best industry
                                            practices and be conducted in compliance with all Applicable Law. FF reserved the right to
                                            determine in good faith the minimum manufacturing standards to be followed by MS. Manufacturing
                                            of the FF81 Products shall be performed solely at the Approved MS Plants pursuant to this
                                            Agreement. Any change in the manufacturing location(s) of FF81 Products shall be subject
                                            to prior written approval of FF, and MS shall be fully responsible for all costs and/or delays
                                            resulting from such changes.

 

		(e)	Audit
                                            and Inspection.

 

		(i)	FF,
                                            its designated representatives and any independent inspectors approved by FF may inspect
                                            any Approved MS Plant at any stage of production or delivery (including at the delivery point
                                            specified in the applicable Product Purchase Order) during regular business hours, provided
                                            that any such inspectors shall have executed a confidentiality agreement reasonably acceptable
                                            to MS. FF shall give MS reasonable prior written notice before conducting any such inspection.

 

		(ii)	MS
                                            shall use all commercially reasonable efforts to obtain from each MS Contract Supplier in
                                            the applicable MS-NS Agreement, audit rights identical to those set forth in subsection (i)
                                            above. In the event MS is unable to obtain such audit rights, MS shall give FF prompt notice
                                            thereof and provide all reasonable cooperation as requested by FF such that FF may enter
                                            into a FF-NS Joinder Agreement.

 

    Page 25

     

    

 

		(iii)	In
                                            addition to FF’s right to inspect the FF81 Products under Section 7.6(a), FF may reasonably
                                            require MS to have FF81 Products inspected prior to its shipment to the warehouse in Gunsan
                                            where FF81 Products are stored, and any such inspection shall be performed (i) at FF’s
                                            sole expense, by an independent inspector approved by FF and (ii) in accordance with the
                                            quality inspection standard agreed to by the Parties.

 

		6.5.	Governmental
                                            Approvals. Each Party shall make all necessary filings (regulatory or otherwise) and
                                            obtain all approvals and licenses required by any Governmental Authority and as applicable
                                            to such Party in relation to manufacture, sale and distribution of the FF81 Products in the
                                            Manufacturing Territory and each of the FF Sales Territories (each such filing, approval
                                            and license, an “Approval”). Each Party shall cooperate with the other
                                            Party in good faith and shall provide reasonable assistance to the other Party in connection
                                            with making or obtaining, as applicable, each such Approval.

 

		6.6.	Insurance.

 

		(a)	Mutual.
                                            Each Party, at its own expense, shall obtain and maintain insurances with respect to itself
                                            and its manufacturing facilities, businesses and assets, employees, officers and directors
                                            (or equivalent), in such amounts and against such losses and risks as is customarily carried
                                            by Persons engaged in the same or similar location in the same or similar business, but not
                                            less than as is required under the Applicable Law.

 

		(b)	MS
                                            Insurance Requirement. [***]

 

		(c)	In
                                            addition to the foregoing insurance requirements, MS shall be responsible for maintaining
                                            at all times during the Term of this Agreement, a fire brigade fully capable of fighting
                                            fires and other accidents in its plant.

 

		6.7.	MS
                                            Production.

 

		(a)	Production
                                            Process.

 

		[***]	

 

		(ii)	MS
                                            shall inform FF in writing, prior to implementation, of any significant changes contemplated
                                            by MS to the existing organization, procedures, manufacturing process, logistics or subcontractors
                                            in respect to manufacturing of FF81 Product or otherwise which might have materially adverse
                                            effect on the quality or flexibility on the FF81 Collaboration Project under this Agreement.

 

		(b)	Structural
                                            Investments.

 

		(i)	General
                                            Rule. Any Structural Investments shall be developed, manufactured, procured, acquired,
                                            owned, maintained and used directly by MS at its own risk and at its sole cost and expense,
                                            except for any compensation included in the Price as broken down in Annex 32. Prior
                                            to making any Structural Investments related to the FF81 Products, MS shall provide FF with
                                            the amount, purpose and supporting data and information related to such Structural Investments,
                                            upon which event the Parties shall review and mutually approve in writing such Structural
                                            Investments in advance, which such approval by FF shall not be unreasonably withheld.

 

		(ii)	Standards.
                                            MS may determine at its sole discretion the standards applicable to the Structural Investments,
                                            provided that (A) the Quality Targets are fulfilled, (B) MS uses state-of-the-art techniques
                                            in terms of cost efficiency, productivity and flexibility, industrial rules and standards,
                                            (C) MS complies with the risk management requirements contained in Annex 26 and (D)
                                            for certain specific Structural Investment items explicitly agreed, the FF Production Standards
                                            included in Annex 34 provided by FF and other specific process instructions and guidelines
                                            from FF are met.

 

    Page 26

     

    

 

		(iii)	Title
                                            and Ownership. The title to and the ownership of each Structural Investments shall at
                                            all times be vested with MS.

 

		(c)	Product
                                            Specific Investments.

 

		(i)	General
                                            Rule. MS shall develop (or shall have developed) and procure for its own account and
                                            use all PSI and be responsible for procuring any repairs and replacement of all PSI. Annex
                                            7 sets forth the initial financial responsibilities of the Parties in respect to the
                                            PSI.

 

		(ii)	Allocation
                                            of Cost. Except as expressly stated in Annex 7, FF shall reimburse MS for all
                                            of MS’s actual and reasonable cost of developing and sourcing PSI approved by FF in
                                            writing in advance. Such approved amounts shall be reimbursed as part of the Prices for the
                                            FF81 Products, provided that:

 

[***]

 

		(iii)	PSI
                                            Standards. Without limiting any obligations with respect to FF Owned Tooling, MS shall
                                            determine at its reasonable, good faith discretion the standards applicable to the PSI provided
                                            that (A) Quality Targets are fulfilled, (B) MS uses state-of-the-art techniques in terms
                                            of cost efficiency, productivity and flexibility, industrial rules and standards, and (C)
                                            the FF Production Standards included in Annex 34 and other specific process instructions
                                            and guidelines from FF are met.

 

		(iv)	Title
                                            and Ownership. The title to and the ownership of each PSI shall remain vested with MS
                                            until the total cost of such PSI incurred by MS is fully paid for or otherwise reimbursed
                                            by FF, at which time the title to and ownership of such PSI shall pass to FF or, if requested
                                            by FF in writing, a third party appointed by FF. Upon expiration or termination of this Agreement,
                                            any costs of developing and sourcing the PSI not otherwise recovered by MS as contemplated
                                            in Section 6.7(c)(ii)(A) shall be paid by FF or such third party appointed by FF in full.

 

		(v)	PSI
                                            Ledger. MS shall maintain a PSI Ledger (as set forth in Annex 45) for the PSI,
                                            which shall contain the data listed in Annex 7. MS shall maintain, continuously update
                                            and make available the most up-to-date PSI Ledger (A) until the date of the SOP Korea, on
                                            a quarterly basis, (B) after the date of the SOP Korea, promptly after a replacement purchase
                                            has been made and (C) in any case, promptly upon request by FF. MS shall nominate a contact
                                            person, sufficiently in command of the English language, who is available to FF for any questions
                                            and examination of the PSI Ledger by FF or a third party nominated by FF.

 

		(vi)	Use
                                            Restrictions. Without limiting the license provided under Section 15.4(a), any use by
                                            MS of PSI for purposes other than manufacturing the FF81 Products under this Agreement shall
                                            be subject to the prior written consent of FF in each instance. Upon request by FF in writing,
                                            MS shall provide FF with drawings, descriptions and other available documentation on such
                                            PSI being used for other purposes in a form acceptable to FF.

 

		(vii)	Relocation;
                                            Disposal; No Encumbrances. Without limiting any obligations with respect to FF Owned
                                            Tooling:

 

		(A)	while
                                            MS has the title and possession of any PSI, MS shall (x) maintain such PSI at its own expense,
                                            (y) keep such PSI at the Gunsan Plant or any other Approved MS Plant, (z) without FF’s
                                            approval (not to be unreasonably withheld), not dispose of such PSI.

 

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		(B)	if
                                            any PSI shall or needs to be kept at one of its supplier’s production site, it shall
                                            notify FF before entering into any contract with such supplier with respect to such PSI and
                                            obtain FF’s prior written consent, which consent shall not be unreasonably withheld.
                                            In such case, to the extent the title to and ownership of such PSI has not passed to FF but
                                            retained by MS, MS shall ensure that the title to and ownership in such PSI shall at all
                                            times remain vested with MS and shall not be transferred to such supplier.

 

		(viii)	Other
                                            Responsibilities. Without limiting any obligations with respect to FF Owned Tooling,
                                            MS shall:

 

		(A)	allow
                                            FF, if requested by FF in writing, to participate in the approval of PSI based on the criteria
                                            set out in Section 6.7(c)(iii), prior to the ordering thereof and in the subsequent verification
                                            of the delivery thereof;

 

		(B)	inform
                                            FF of the actual operational readiness of the PSI from time to time if requested by FF in
                                            writing;

 

		(C)	mark
                                            each PSI located at suppliers’ production sites as the property of MS;

 

		(D)	report
                                            all relocations of the PSI to FF (for the avoidance of doubt, this information undertaking
                                            shall be without prejudice to the requirement to obtain FF’s consent for any such relocations
                                            outside the Gunsan Plant or other Approved MS Plant);

 

		(E)	grant
                                            FF the right of inspection at any time during normal operating hours and upon reasonable
                                            prior written notice in respect of each PSI; and

 

		(F)	inform
                                            FF immediately if unforeseeable major repairs to any PSI are pending, beyond usual maintenance,
                                            or in case of total loss or any PSI is subject to a lien or other adverse measures taken
                                            by third parties.

 

		(d)	Quarterly
                                            Meeting on PSI; Operational Readiness. Once every three (3) months, a consultation meeting
                                            shall be held between FF and MS on each PSI that is under construction. In case of operational
                                            readiness, MS shall provide FF with a readiness message, and FF shall send the asset identification
                                            plates to MS. MS shall compile a relevant inventory of PSI, and return the signed operational
                                            readiness message to FF in the form of an up-dated PSI Ledger in accordance with Annex
                                            45.

 

		(e)	Documentation
                                            and Record Keeping: Production Data.

 

		(i)	MS’s
                                            production plans in respect of this Agreement, which have an impact on space and the use
                                            thereof, shall be documented in detailed layouts.

 

		(ii)	MS
                                            shall compile work instructions for the specification, documentation and control of series
                                            production, which contain the following data:

 

		(A)	manufacturing
                                            processes described in a structured way (operational sequences/assembly cycle);

 

		(B)	attachment
                                            parts/auxiliary materials;

 

		(C)	FF
                                            Tooling;

 

		(D)	machines/systems;

 

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		(E)	tool
                                            settings/system parameters; and

 

		(F)	quality
                                            and process data.

 

		(iii)	The
                                            work instructions for the FF81 Products shall be (A) updated by MS promptly in case of any
                                            changes and (B) maintained by MS.

 

		(iv)	All
                                            documents relating to the manufacturing of the FF81 Products by MS under this Agreement,
                                            including the layouts and work instructions mentioned in this Section 6.7 above, and all
                                            Conformity of Production documents, shall be maintained up-to-date, include version management,
                                            be available also in the English language and be made available to FF promptly upon request.

 

		(v)	MS
                                            shall establish all other commercially practicable measures and take all reasonable precautions
                                            that are required to maintain the continued production of the FF81 Products in accordance
                                            with this Agreement, in particular in accordance with any agreed timetable, the Quality Targets,
                                            and agreed upon production capacity. Such measures and precautions shall be duly documented
                                            in a contingency plan, which shall be kept be up-to-date, include version management, be
                                            available also in the English language and be made available to FF promptly upon request
                                            FF in writing.

 

		(f)	Other
                                            Terms.

 

		(i)	MS’s
                                            production facilities shall be designed to hold all such PSI in order for MS to be able to
                                            meet the production capacity requirements for manufacture of the FF81 Products under Section
                                            5.12.

 

		6.8.	Inbound
                                            Logistics: FF81 Parts.

 

		(a)	MS
                                            Supplied Parts.

 

		(i)	MS
                                            shall ensure that MS Supplied Parts (other than those manufactured by MS) shall be delivered
                                            to the Gunsan Plant in suitable and assembly-compatible containers. Such containers shall
                                            be planned, designed and purchased under the full responsibility of MS. Any logistic agreements
                                            concerning the supply and delivery of such MS Supplied Parts shall be made directly between
                                            MS and the respective MS Contract Suppliers. Notwithstanding the foregoing, MS shall submit
                                            to FF the decided packaging concept for each of the MS Supplied Parts.

 

		(ii)	The
                                            organization and control of inbound traffic of MS Supplied Parts as well as the selection
                                            and commissioning of required service providers shall be under the obligation and responsibility
                                            of MS and shall be carried out at its own risk and expense. All logistic costs including
                                            packaging, transport, customs, local taxes, losses, waste and scrap shall be incorporated
                                            into the cost of each of the MS Supplied Parts, and FF shall not be required to provide additional
                                            compensation for any such cost.

 

		(b)	FF
                                            Supplied Parts.

 

		(i)	FF
                                            shall ensure that FF Supplied Parts shall be delivered to the Gunsan Plant in suitable and
                                            assembly-compatible containers. Such containers shall be planned, designed and purchased
                                            under the full responsibility of FF. Any logistic agreements concerning the supply and delivery
                                            of FF Supplied Parts shall be made directly between FF and the respective FF Contract Suppliers.
                                            Notwithstanding the foregoing, FF shall submit to MS the decided packaging concept for each
                                            of the FF Supplied Parts.

 

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		(ii)	The
                                            organization and control of inbound traffic of FF Supplied Parts as well as the selection
                                            and commissioning of required service providers shall be under the obligation and responsibility
                                            of FF and shall be carried out at its own risk and expense. All logistic costs including
                                            packaging, transport, customs, local taxes, losses, waste and scrap shall be incorporated
                                            into the cost of each of the FF Supplied Parts, and MS shall not be required to provide additional
                                            compensation for any such cost.

 

		6.9.	IT
                                            Services.

 

		(a)	Each
                                            Party shall provide to the other Party such information technology services (the “IT
                                            Services”) in accordance with this Section 6.9 and Annex 41, which is aimed
                                            to support the business processes and related interfaces between the Parties in carrying
                                            out the FF81 Collaboration Project.

 

		(b)	The
                                            costs incurred by each Party in connection with the installation, operation, and dismantling
                                            of IT Services shall be borne by such Party.

 

		(c)	IT
                                            Services shall be documented and agreed upon between the Parties.

 

		(d)	The
                                            information technology operational phase begins once IT Services or parts thereof have been
                                            installed and handed over. If a Party desires to implement any changes to existing IT Services,
                                            it shall notify the other Party in writing, which such notice shall set forth detailed information
                                            on such proposed changes and request for consent of such other Party, which consent shall
                                            not be unreasonably withheld. No change to the existing IT Services may be implemented by
                                            either Party unless mutually agreed to by the Parties, and the requesting Party shall bear
                                            all costs incurred (or to be incurred) by the Parties in implementing any such changes.

 

		(e)	MS
                                            and FF acknowledge that all Information contained in, or provided in connection with, any
                                            IT Services of respective companies are their respective Confidential Information, which
                                            shall be subject to terms of this Agreement.

 

		(f)	Access.
                                            FF may immediately access any of FF Confidential Information stored in MS’s IT system
                                            at any time. FF may access any other data in MS’s IT system related to FF, provided
                                            that:

 

		(i)	any
                                            such access shall be subject to prior written notice to MS, which notice shall set forth
                                            the list of information that FF seeks to access, together with detailed description of purpose
                                            for seeking such information;

 

		(ii)	the
                                            information sought by FF shall be limited to the FF81 Products; and

 

		(iii)	any
                                            information received by FF shall be used solely for the purpose of FF’s performance
                                            of this Agreement.

 

		6.10.	FF
                                            Tooling.

 

		(a)	FF
                                            Tooling. MS shall develop or manufacture (or have a third party toolmaker developed or
                                            manufacture) and procure for its own account and use each FF Tooling and shall be responsible
                                            for any repairs and replacement of any such FF Tooling. Time is of the essence with respect
                                            to such obligations and MS shall promptly notify FF in writing if it believes that the development
                                            or procurement of any FF Tooling (or repair or replacement thereof) shall not be completed
                                            in accordance with any agreed upon schedule. Without limiting any obligation with respect
                                            to PSI, FF shall have the right to inspect and test the FF Tooling and approve all FF Tooling
                                            prior to its use by MS; provided that FF may only reject FF Tooling that does not comply
                                            with any specification for such FF Tooling supplied to MS by FF.

 

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		(b)	Parts
                                            Tooling. Notwithstanding the foregoing, (i) the rights and obligations of the Parties
                                            concerning any Parts Tooling shall be set forth in a separate agreement to be entered between
                                            the Parties; provided, that FF shall have the right to purchase any such Parts Tooling directly
                                            from any MS Contract Supplier, and (ii) FF shall be the owner of such Parts Tooling it purchases
                                            or procures separately from any Person other than MS.

 

		(c)	MS’s
                                            Responsibilities. Without limiting any obligations with respect to PSI, MS shall ensure
                                            that each FF Tooling shall:

 

		(i)	comply
                                            with any Specifications for such FF Tooling provided by FF;

 

		(ii)	be
                                            capable of manufacturing the FF81 Products in accordance with the Basic Specifications, including
                                            meeting any volume requirements or estimates provided to MS during the life of the product;
                                            and

 

		(iii)	with
                                            respect to FF Owned Tooling, be clearly and permanently marked as FF property according to
                                            FF’s direction.

 

		(d)	Subcontracting
                                            of FF Owned Tooling. Without limiting any obligations with respect to PSI (or any obligations
                                            with respect to any subcontracting activities):

 

		(i)	Fabrication;
                                            Modification. If all or part of the fabrication, modification, repair or refurbishment
                                            of any FF Owned Tooling shall be subcontracted to a third party toolmaker, MS shall:

 

		(A)	give
                                            FF advance written notice of the identity of the toolmaker and the location of the FF Owned
                                            Tooling;

 

		(B)	inform
                                            the toolmaker in writing that it is a bailee-at-will of the FF Owned Tooling;

 

		(C)	be
                                            solely responsible for payments to the toolmaker; and

 

		(D)	include
                                            in its agreement with the toolmaker a waiver of the toolmaker’s lien rights with respect
                                            to such FF Owned Tooling.

 

		(ii)	Notice
                                            and Approval. If MS intends to locate FF Owned Tooling on an approved subcontractor’s
                                            premises, MS shall:

 

		(A)	provide
                                            FF in with written notice of the identity of the subcontractor and the location of the FF
                                            Owned Tooling;

 

		(B)	obtain
                                            the prior written consent of FF;

 

		(C)	inform
                                            the subcontractor in writing that it is a bailee-at-will of the FF Owned Tooling;

 

		(D)	be
                                            solely responsible for payments to the subcontractor; and

 

		(E)	include
                                            in its agreement with the subcontractor a waiver of such subcontractor’s lien rights
                                            with respect to the FF Owned Tooling.

 

		(e)	FF’s
                                            Rights of Possession and Equitable Relief for FF Owned Tooling. MS shall have no interest
                                            in FF Owned Tooling other than its right to use such FF Owned Tooling in order to perform
                                            its obligations under this Agreement. FF has the right to the sole, unencumbered, unqualified,
                                            and absolute possession of such FF Owned Tooling at any time as elected by FF. In furtherance
                                            of this right, FF, in its sole discretion, may at any time (i) request MS to remove such
                                            FF Owned Tooling, in which case MS shall immediately prepare it for shipment and redeliver
                                            it to the location specified by FF, freight prepaid, in the same condition as originally
                                            received by MS, reasonable wear and tear excepted, provided, however, that
                                            FF shall reimburse MS to the extent such freight cost exceeds the cost of shipping such FF
                                            Owned Tooling from MS’s plant where such FF Owned Tooling is located to the nearest
                                            FF manufacturing plant; and/or (ii) exercise its unconditional right of entry, which MS hereby
                                            gives to FF, to inspect at and remove such FF Owned Tooling from the premises at which such
                                            FF Owned Tooling is located without liability in trespass for such entry. In the case of
                                            a failure by MS to perform its obligations under this Section 6.10(e), in addition to any
                                            other remedy to which FF may be entitled, FF shall be entitled to institute and prosecute
                                            proceedings in a court of competent jurisdiction to obtain temporary and/or permanent injunctive
                                            or other equitable relief to enforce any provision hereof without the necessity of posting
                                            bond or proof of action injury or damage.

 

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		(f)	Insurance
                                            and Risk of Loss. MS, at its expense, shall procure insurance with reputable and financially
                                            responsible insurance companies to insure each FF Owned Tooling at all times in amounts equal
                                            to its full insurable replacement value, with loss payable to FF. While in MS’s possession
                                            or control, each FF Owned Tooling is at MS’s risk of loss, excepting only reasonable
                                            wear and use. MS shall promptly provide a certificate or other evidence of insurance at FF’s
                                            request.

 

		(g)	Indemnification
                                            and Release. Except as otherwise prohibited by Applicable Law, MS shall defend, indemnify
                                            and hold the FF Indemnitees harmless from all claims arising out of the possession, storage,
                                            installation, maintenance, use, or control of any FF Owned Tooling by MS, its employees,
                                            or any subsidiary, subcontractor, or other Person, including damages to such FF Owned Tooling.
                                            MS waives any and all statutory and/or constitutional immunity to which, but for this waiver,
                                            it might be entitled in compliance with the workers’ compensation laws of the jurisdictions
                                            in which MS is located or under any other employee benefit statutes or similar Applicable
                                            Laws of any jurisdiction.

 

		(h)	Non-Disclosure.
                                            FF Owned Tooling, any Confidential Information associated therewith and all Intellectual
                                            Property Rights embodied therein, are and shall continue to be treated as confidential and
                                            proprietary to FF, and shall be subject to all patent, proprietary, or other property rights
                                            of FF, including the rights afforded FF pursuant to any trade secret statutes or similar
                                            laws of any jurisdiction. Without FF’s prior written consent, MS shall not disclose,
                                            transfer, or loan any FF Owned Tooling associated therewith to any Affiliate, subcontractor,
                                            or other Person.

 

		(i)	Waiver
                                            of Liens. As a continuing condition of MS’s possession or use of any FF Owned Tooling,
                                            MS shall ensure that no third party obtains any lien or other right in such FF Owned Tooling
                                            and hereby waives and relinquishes, and agrees to obtain from any third parties who might
                                            claim any such lien (including mechanic’s liens) or right, their written waiver and
                                            relinquishment of all rights, if any, to any lien or other right of retention whatsoever
                                            with respect to such FF Owned Tooling. To the extent that any common law or statutory provision
                                            shall be deemed applicable to such FF Owned Tooling and shall confer upon or create in favor
                                            of MS any lien, right, or remedy, whether for work performed on or goods produced with or
                                            raw materials ordered in connection with such FF Owned Tooling, MS hereby irrevocably waives
                                            and relinquishes, for itself and its successors and assigns, any and all such liens, rights,
                                            and remedies, agreeing that its rights and remedies are solely as set forth in this Agreement.

 

		(j)	MS
                                            Contract Suppliers. MS shall obtain from each MS Contract Supplier in the applicable
                                            MS-NS Agreement, such rights as are necessary to effectuate the provisions of this Section
                                            6.10 and the rights of FF in the FF Owned Tooling. In the event subject to the foregoing,
                                            MS is unable to obtain such rights, MS shall give FF prompt notice thereof and provide all
                                            reasonable cooperation as requested by FF such that FF may enter into a FF-NS Joinder Agreement.

 

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		6.11.	FF
                                            Quality Standards and Policies.

 

		(a)	MS
                                            shall:

 

		(i)	ensure
                                            that manufacturing activities of MS under the FF81 Collaboration shall conform to all quality
                                            control and other standards and policies as well as inspection systems as set forth in Annex
                                            19 and Annex 29, including Quality Management Procedures, ISO/TS quality systems,
                                            IATF 16949:2018, OHSAS 18001 health and safety certification and ISO 14001 environmental
                                            certification including registration, and GADSL / RoHS (collectively, the “FF Quality
                                            Standards”);

 

		(ii)	participate
                                            in FF’s supplier quality and development programs and adhere to the guidelines within
                                            the Faraday Motors Supplier Handbook, in each case as provided to MS prior to the date hereof
                                            or generally applicable to all of FF’s manufacturers and suppliers and materially consistent
                                            with the terms of this Agreement; and

 

		(iii)	meet
                                            the requirements of industry Production Part Approval Processes (PPAP) (the “PPAP
                                            Requirements”).

 

		(b)	Level
                                            3 PPAP shall be required for all FF81 Products.

 

		(c)	The
                                            PPAP Requirements shall apply to the first shipments of the FF81 Products, and if MS has
                                            obtained PPAP approval from FF, no further PPAP submissions shall be required unless any
                                            of the following occurs:

 

		(i)	a
                                            design change with respect to the FF81 Products;

 

		(ii)	relocation
                                            of MS’s manufacturing facility or FF Tooling;

 

		(iii)	change
                                            of tier 2 or 3 suppliers; and

 

		(iv)	change
                                            of manufacturing facility.

 

		(d)	Refer
                                            to the Faraday Motors Supplier Handbook for further details on PPAP submission.

 

		(e)	Change
                                            in FF Quality Standards. In the event any of the FF Quality Standards shall be amended,
                                            supplemented or replaced by FF during the Term, FF shall notify MS in writing thereof, which
                                            such notice shall (i) be given no later than one hundred eighty (180) days prior to the effective
                                            date of any such change and (ii) set forth detailed explanation of any such change. MS’s
                                            obligations under this Agreement shall be deemed amended to reflect such change so long as
                                            (A) FF has issued a proper notice and (B) any such change is reasonable and commercially
                                            feasible to MS, such acknowledgement by MS not to be unreasonably withheld, conditioned or
                                            delayed; provided, that any change that is applied generally across all of FF’s manufacturers
                                            generally is deemed reasonable and commercially feasible.

 

		(f)	If
                                            there is conflict between any part of the FF Quality Standards and the terms of this Agreement,
                                            the terms of this Agreement shall govern and control.

 

		6.12.	MS
                                            Exclusivity.

 

		(a)	Exclusive
                                            Manufacturer Status.Subject to (i) MS’s full compliance with the terms of this
                                            Agreement, (ii) MS’s ability to supply the FF81 Products to FF as and when ordered
                                            by FF in accordance with the production timelines, volumes, quality, prices, technology,
                                            delivery schedules and other requirements of FF from time to time in accordance with this
                                            Agreement, and (iii) any impact of a Force Majeure Event, FF hereby appoints MS as the exclusive
                                            manufacturer and supplier of the FF81 Products in the Republic of Korea during the Term.

 

		(b)	[***]

 

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		7.	SHIPMENT
AND DELIVERY OF FF81 PRODUCTS

 

		7.1.	Shipment
                                            and, Delivery of FF81 Products by MS; Passage of Title and Risk of Loss.

 

		(a)	Delivery
                                            of FF81 Products. Upon receipt and acceptance of a Product Purchase Order from FF, MS
                                            shall commence manufacturing of the FF81 Products, and shall thereafter no later than the
                                            delivery date specified in the Product Purchase Order (the “Delivery Date”),
                                            deliver and supply to FF the FF81 Products in accordance with such Product Purchase Order.
                                            MS shall deliver all FF81 Products to FF in new condition. MS shall fill each Product Purchase
                                            Order in accordance with the terms of this Agreement. Subject to the foregoing, MS acknowledges
                                            that FF may suffer financial loss if MS fails to maintain a service level ensuring that FF81
                                            Products are delivered by MS to FF (i) no later than the applicable Delivery Date and (ii)
                                            in proper condition (proper quality, quantity and type).

 

		(b)	Minimum
                                            Monthly Fill Rate. Each month during the Term, MS shall achieve a fill rate of [***]
                                            or greater (the “Minimum Fill Rate”). [***]

 

	[***]
	 	[***]
	[***]	 	[***]
	[***]	 	[***]
	[***]	 	[***]
	[***]	 	[***]
	[***]	 	[***]
	[***]	 	[***]

 

		(c)	Effect
                                            of Default. Without limiting Section 7.1(b) above, a failure by MS to fill the Product
                                            Purchase Orders on a timely basis shall give rise to all remedies provided by law or in equity,
                                            including the right to cancel such unfilled Product Purchase Orders. [***]

 

		(d)	INCOTERMS.
                                            All Prices for the FF81 Products are stated based on and all FF81 Products purchased hereunder
                                            shall be delivered by INCOTERMS EXW (Gunsan Plant).

 

		(e)	Passage
                                            of Title; Risk of Loss. Title to the FF81 Products shall pass from MS to FF at the same
                                            time as risk of loss shall pass from MS to FF in accordance with the INCOTERM set forth in
                                            Section 7.1(d) above. MS shall convey to FF good and valid title to the FF81 Products, free
                                            and clear of all liens and other security interests.

 

		(f)	Packaging.
                                            Unless otherwise agreed by the Parties, FF shall have sole responsibility for packaging the
                                            FF81 Products. MS shall not be liable for any damage to or loss of the FF81 Products during
                                            transit after delivery occurs hereunder.

 

		(g)	Time
                                            is of Essence. TIME IS OF ESSENCE AS TO DELIVERY OF FF81 PRODUCTS.

 

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		(h)	Anticipated
                                            Delay in Delivery. If, after accepting (or being deemed to have accepted) a Product Purchase
                                            Order, MS anticipates that it will be unable to meet the delivery schedule for part or all
                                            of the units of the FF81 Products that are subject to such Product Purchase Order, it shall
                                            immediately notify FF in writing, which such notice shall set forth the anticipated delivery
                                            dates, provided that such notice shall not release MS from its liabilities hereunder for
                                            any related non-performance or breach of this Agreement and shall not require FF to accept
                                            any late delivery or waive any of its rights or remedies with respect thereto. Upon receipt
                                            of the foregoing notice by MS of the anticipated delay and without limiting any rights and
                                            remedies available to FF for such delayed delivery, if such delayed delivery constitutes
                                            a breach of this Agreement by MS and not due to an Excusable Delay, FF may at its election:
                                            (i) cancel the Product Purchase Order, in whole or in part, in its sole discretion, or (ii)
                                            accept the revised delivery schedule as proposed by MS. Such election shall not limit the
                                            other remedies to which FF may be entitled under this Agreement, at law or in equity.

 

		7.2.	Freight
                                            Charges. FF shall be responsible for all Freight Charges after delivery of the FF81 Products
                                            in accordance Section 7.1(d).

 

		7.3.	Export
                                            Clearance Responsibilities. MS shall reasonably cooperate with FF and FF’s designated
                                            freight forwarder or carrier related to the export of the FF81 Products.

 

		7.4.	Expedited
                                            Shipments. If FF requires expedited delivery of FF81 Products under any Product Purchase
                                            Order for any reason other than a breach by MS of its delivery obligation hereunder
                                            and such expedited delivery is accepted by MS, FF shall pay expedited shipping costs and
                                            expenses. If the expedited delivery is required because MS is delayed in manufacturing or
                                            delivering the FF81 Products or otherwise, in each case as a result of MS’s failure
                                            to comply with this Agreement (other than due to any Force Majeure Event, including Excusable
                                            Delay), MS shall pay the amount by which the expedited shipment costs and expenses exceed
                                            the shipment costs and expenses FF would otherwise have paid.

 

		7.5.	Inventory
                                            Held by MS. Until delivery by MS of the FF81 Products in accordance with Section 7.1(d),
                                            MS shall hold or maintain possession, custody and control of any FF81 Products that are manufactured
                                            by MS and sold to FF hereunder.

 

		7.6.	Inspection;
                                            Acceptance and Rejection of FF81 Products; Remedies for Non-Conformity.

 

		(a)	Inspection.

 

		(i)	FF81
                                            Products (and MS Supplied Parts) are subject to FF’s inspection and approval or rejection.
                                            FF shall have a reasonable period of time, but not more than [***] following delivery of
                                            the FF81 Products in accordance with this Agreement and FF’s receipt of notice from
                                            MS that the FF81 Products have been delivered in accordance with Section 7.1(d) and are ready
                                            for inspection (the “FF Inspection Period”), to inspect (or have a third
                                            party inspect) in whole or part, any and all FF81 Products delivered. FF may also inspect
                                            (or have a third party inspect) in whole or part the FF81 Products at the Gunsan Plant at
                                            any time during normal business hours with prior written notice at least three (3) Business
                                            Days before the proposed date of inspection.

 

		(ii)	If
                                            FF discovers any defects or nonconformities in the FF81 Product during such inspections and
                                            such defects or nonconformities constitute a breach by MS of this Agreement, then MS shall
                                            be responsible for all costs and expenses incurred by the Parties for implementing the corrective
                                            actions. If such defects or nonconformities constitute a breach by FF of this Agreement,
                                            then FF shall be responsible for all costs and expenses incurred by the Parties for implementing
                                            any corrective actions.

 

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		(iii)	Any
                                            such inspection shall be solely discretionary by FF and shall not relieve MS of any of its
                                            obligations and liabilities with respect to the FF81 Products or otherwise under this Agreement.
                                            FF shall indemnify and hold MS harmless from any and all Losses incurred by MS arising as
                                            a result of FF’s (or any third party inspector hired by FF) conduct of its inspection.
                                            Any third party inspector, contractors or representatives of FF entering into MS’s
                                            facility to conduct any such inspection shall be bound by confidentiality provisions substantially
                                            similar to the provisions under this Agreement for the benefit of MS and execute a waiver
                                            of liability as reasonably agreeable to the Parties.

 

		(b)	Acceptance
                                            of FF81 Products.

 

		(i)	Prior
                                            to the end of the FF Inspection Period with respect to any FF81 Products, FF shall either
                                            (A) deliver to MS a written acceptance of such FF81 Products or (B) in the event of any MS
                                            Non-Conformity, take such other action pursuant to Section 7.6(c) and provide written notice
                                            thereof.

 

		(ii)	Failure
                                            to timely deliver either such notice shall constitute acceptance by FF of all such FF81 Products;
                                            provided, however, that FF’s acceptance of any FF81 Products shall not
                                            be deemed to be a waiver or limitation of FF’s rights or MS’s obligations pursuant
                                            to this Agreement (or any breach thereof), including those obligations with respect to warranties
                                            and indemnifications by MS. Payment for or passage of title to FF81 Products delivered prior
                                            to FF’s inspection shall not constitute an acceptance thereof.

 

		(iii)	FF’s
                                            acceptance of any FF81 Products (even nonconforming FF81 Products) shall not be deemed to
                                            be a waiver or limitation of FF’s rights or MS’s obligations pursuant to this
                                            Agreement (or any breach thereof), including those obligations with respect to warranties
                                            and indemnifications by MS, and shall not constitute a waiver of FF’s right to reject
                                            future deliveries containing the same nonconformities as the FF81 Products accepted by FF.

 

		(c)	Non-Conforming
                                            FF81 Products; Remedies to FF. Without prejudice to FF’s other available rights
                                            and remedies, if, during the FF Inspection Period for any FF81 Products, it is determined
                                            that MS failed to deliver to FF FF81 Products that conform to the corresponding Product Purchase
                                            Order or the MS Warranty (which for the avoidance of doubt excludes any Exclusions to MS
                                            Warranty) by the Delivery Date and such failure is not cured by MS within [***] thereafter
                                            (a “MS Non-Conformity”), then:

 

		(i)	If
                                            such MS Non-Conformity is based on either shortage or over-delivery of quantities to be delivered
                                            or being delivered (each such shortage and over-delivery, the “MS Shortage”
                                            and “MS Excess”, as applicable), FF may at its election:

 

		(A)	in
                                            case of the MS Shortage (including MS’s failure to meet the Minimum Fill Rate), (x)
                                            cancel such portion of the Product Purchase Order pertaining to such MS Shortage and require
                                            MS to adjust the invoice accordingly or (y) require MS to supply such MS Shortage to FF on
                                            an expedited basis at MS’s sole cost and expense; or

 

		(B)	in
                                            case of MS Excess, (x) accept such MS Excess, (y) reject and, at MS’s sole cost and
                                            expense, return such MS Excess to MS or (z) propose to MS how to handle such MS Excess, in
                                            which event the Parties will enter into good faith discussions regarding such proposal, provided
                                            that in no event shall FF be obligated to purchase such MS Excess; it being acknowledged
                                            and agreed that, without limiting the foregoing, FF shall not be obligated to accept or pay
                                            for any MS Excess, or any storage costs, excess carrier and dock fees or other excess charges
                                            for deliveries arriving more than [***] in advance of the Delivery Date and rejected by FF;
                                            or

 

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		(ii)	If
                                            such MS Non-Conformity is based on product defect for which MS is responsible hereunder or
                                            nonconformity to the Basic Specifications, FF may, at its election:

 

		(A)	accept
                                            and retain such non-conforming FF81 Products; or

 

		(B)	reject
                                            such non-conforming FF81 Products and require MS, at MS’s sole cost and expense and
                                            option, to (x) replace such non-conforming FF81 Products by supplying replacement FF81 Products
                                            (for which substitution MS must assume any expense and price differential) in compliance
                                            with the Basic Specifications via expedited delivery, in which case FF shall issue a purchase
                                            order similar to the Special Order (under Section 5.11) except that MS shall be liable for
                                            all costs and expenses in supplying such replacement FF81 Products via expedited delivery,
                                            or (y) repair such FF81 Products so that they cease to be non-conforming in any respect [***].

 

All
returns of rejected FF81 Products in the foregoing paragraphs shall be at MS’s sole risk, cost, and expenses. Notwithstanding the
foregoing and any provision in this Agreement to the contrary, the rights and obligations of the Parties under this Section 7.6(c) shall
not apply to any MS Non-Conformity due to a Design & Engineering Defect or FF Manufacturing Defect, or any MS Shortage due to an
Excusable Delay.

 

		(d)	Root
                                            Cause Analysis. Within [***] following receipt by MS of written notice of such Non-Conformity
                                            from FF, MS shall conduct a root cause analysis and submit to FF a written explanation of
                                            the root cause and all corrective actions implemented (or to be implemented) by MS to prevent
                                            reoccurrence of the same or similar MS Non-Conformity.

 

		(e)	Dispute
                                            Concerning Non-Conformity. In the case of a Dispute between the Parties regarding any
                                            MS Non-Conformity, the Parties shall first conduct a joint investigation to determine the
                                            cause of such MS Non-Conformity. If the Parties cannot agree on the cause of such MS Non-Conformity
                                            after commencement of the joint investigation, then any Dispute arising in connection therewith
                                            shall then be resolved in accordance with the dispute resolution procedures set forth in
                                            Section 21.4 of this Agreement.

 

		8.	PRICE;
PAYMENT TERMS

 

		8.1.	Pricing;
                                            Adjustments; Taxes.

 

		(a)	Pricing.
                                            The prices for the FF81 Products and FF Supplied Parts shall be calculated on a yearly basis
                                            in accordance with the pricing calculations set forth in Annex 32 and shall take into
                                            account any cost savings achieved by the Parties under Section 8.1(d) (as such prices may
                                            be adjusted under Annex 32 and this Section 8, the “Prices”).

 

		(b)	Initial
                                            Prices. The Initial Prices are set forth on Schedule 5.2 and reflect the calculation
                                            of the Prices as of the Effective Date and shall be reviewed and adjusted by the Parties
                                            not later than [***] prior to SOP Korea.

 

		(c)	Price
                                            Adjustments Based on Price Adjustment Indexes. Without limiting any other rights to adjustments
                                            in Prices as set forth in Annex 32 or this Section 8.1, not later than [***] prior
                                            to the end of the Initial Year and each Subsequent Year, the Prices for the FF81 Products
                                            for each year immediately following the Initial Year or such Subsequent Year, as applicable,
                                            shall be adjusted based on price adjustment indexes and parameters set forth in Annex
                                            32 (the “Price Adjustment Indexes”).

 

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		(d)	Price
                                            Adjustment Based on Cost Saving Initiatives for FF81 Products and FF Supplied Parts.

 

		(i)	Component
                                            Pricing Negotiations. Without limiting any other rights to adjustments in Prices as set
                                            forth in Annex 32 or this Section 8.1, during the Term, upon request by FF in writing,
                                            MS shall assist FF in component price negotiations with respect to FF Supplied Parts. Any
                                            cost savings realized with respect to the foregoing shall be allocated between the Parties
                                            based on the pro rata share of responsibilities (including funding) of the Parties with respect
                                            to such negotiations and initiatives.

 

		(ii)	Improvement
                                            in Efficiency.

 

		(A)	MS
                                            shall (x) participate in FF’s recommended cost savings, warranty reduction, and other
                                            efficiency initiatives and (y) implement its own initiatives to improve efficiencies in manufacturing
                                            of the FF81 Products.

 

		(B)	FF
                                            shall implement FF’s recommended cost savings, design changes, warranty reduction,
                                            and other efficiency initiatives to improve efficiencies in manufacturing of the FF Supplied
                                            Parts.

 

		(C)	If
                                            MS learns of a necessary change to the FF81 Products or a possible change to FF81 Products,
                                            or FF learns of a necessary change to the FF Supplied Parts or a possible change to the FF
                                            Supplied Parts, that in either such case may reduce cost, improve quality, or otherwise be
                                            beneficial to MS, FF or FF’s customers, MS or FF, as applicable, shall promptly inform
                                            the other Party in writing of any such necessary or possible change.

 

		(D)	MS
                                            shall not implement any such change to the FF81 Products without obtaining FF’s prior
                                            written approval. Any cost savings realized or achieved through participation in or implementing
                                            any such efficiency initiatives (net of the applicable Party’s actual and reasonable,
                                            documented costs to implement such cost savings) shall be, unless otherwise agreed by the
                                            Parties, allocated between the Parties based on the pro rata share of responsibilities (including
                                            funding) of the Parties with respect to such initiatives.

 

		(iii)	Unless
                                            otherwise agreed, any reduction in Prices as a result of the foregoing activities under paragraph
                                            (i) or (ii) of this Section 8.1(d) shall become effective as of the effective date as of
                                            the next succeeding updated Prices determined pursuant to Section 8.1(a), which shall be
                                            made by: (A) MS in the form of a credit to the Prices for the FF81 Products due and payable
                                            by FF under the existing Product Purchase Order or any future Product Purchase Orders or
                                            (B) FF in the form of a credit to the Prices for the FF Supplied Parts due and payable by
                                            MS under the existing Parts Purchase Order or any future Parts Purchase Orders.

 

		(e)	[***]

 

		(i)	Without
                                            limiting any other rights to adjustments in Prices as set forth in Annex 8 or this
                                            Section 8.1, during the Term, the Parties shall carry out a continuous value analysis in
                                            order to identify and implement cost reduction measures. [***]

 

[***]

 

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		(f)	Subsidies.

 

		(i)	MS
                                            shall use its commercially reasonable efforts to apply for and obtain all relevant subsidy
                                            opportunities with the relevant Governmental Authority in the Manufacturing Territory specifically
                                            for the support of carrying out its obligations under this Agreement, which such subsidy
                                            opportunities may include regional structural development assistance, grants, benefits and
                                            tax concessions. FF shall cooperate with MS in MS’s efforts to procure any such subsidies,
                                            including taking all necessary procedural steps (preparing and filing applications and licensing
                                            procedures) to obtain the subsidies and fulfilling relevant subsidy conditions.

 

		(ii)	Subject
                                            to Applicable Laws, all monetary subsidies received by MS from the Governmental Authority
                                            related solely to the FF81 Collaboration under this Agreement shall be allocated between
                                            the Parties on an equal basis.

 

		(g)	Excess
                                            Volume Credit; Shortage Volume Rebate for FF81 Products. The Parties acknowledge that
                                            the Initial Price of the FF81 Products is based on the assumption that the aggregate volume
                                            of the FF81 Products manufactured and sold by MS to FF during the first [***] from the Effective
                                            Date (the “Settlement Period”) shall be such volume set forth in Annex
                                            31 (the “Target Volume”). Accordingly, the Parties agree to compensate
                                            each other by issue a credit or rebate, as applicable, if the actual volume of the FF81 Products
                                            manufactured and sold by MS to FF (the “Actual Volume”) during the Settlement
                                            Period is greater or less than the Target Volume, as follows:

 

		(i)	if
                                            the Actual Volume is greater than the Target Volume (such difference, the “Excess”),
                                            MS shall provide to FF, and FF shall be entitled to, a credit (such amount, the “Excess
                                            Volume Credit”) determined as follows:

 

		(A)	[***]

 

		(ii)	if
                                            the Actual Volume is less than the Target Volume (such difference, the “Shortage”),
                                            FF shall compensate MS for such Shortage by paying MS a rebate (such amount, the “Shortage
                                            Volume Rebate”) determined as follows:

 

		(A)	[***]

 

		(h)	Taxes.
                                            The Prices, including any adjustments thereof, shall be exclusive of all taxes, duties, fee,
                                            charges or assessments of any nature which may be imposed upon the sale by MS or purchase
                                            by FF of the FF81 Products or upon the sale by FF or purchase by MS of the FF Supplied Parts
                                            by any Governmental Authority, and, except as may otherwise be allocated pursuant to any
                                            applicable INCOTERM set forth herein, each Party shall be solely liable for any such taxes,
                                            duties, charges or assessments that may be levied by the Governmental Authority against such
                                            Party.

 

		(i)	Antidumping,
                                            Countervailing and/or Other Imposed Duties. MS shall be responsible for, or require the
                                            applicable MS Contract Supplier to be responsible for, the payment of customs duties, taxes,
                                            and fees applicable to sourcing of all MS Supplied Parts for MS in its production of the
                                            FF81 Products. For the avoidance of doubt, this Section shall not limit the responsibilities
                                            of FF in respect to any customs duties, taxes and fees in respect to any goods ordered from
                                            MS hereunder.

 

		(j)	All-Inclusive
                                            Prices. Except as otherwise expressly set forth herein or in Schedule 5.2, the
                                            Prices shall be all-inclusive and represent the sole and exclusive consideration to MS or
                                            to FF hereunder for the FF81 Products or FF Supplied Parts, as applicable, except for (i)
                                            any freight and insurance costs for which a Party is responsible hereunder or under Schedule
                                            5.2 (collectively, “Freight Charges”), if any, and (ii) certain taxes
                                            which may be assessed on the Prices for which a Party is responsible hereunder. FF shall
                                            not be billed for, nor shall FF have any obligation to pay, any charge or amount not specifically
                                            authorized in FF’s duly issued Product Purchase Order in accordance herewith. MS shall
                                            not be billed for, nor shall MS have any obligation to pay, any charge or amount not specifically
                                            authorized in MS’s duly issued Parts Purchase Order in accordance herewith. The Prices
                                            for the FF81 Products and FF Supplied Parts shall be inclusive of all warranty costs related
                                            to such FF81 Products and FF Supplied Parts, respectively. Notwithstanding the foregoing,
                                            all Prices for FF81 Products and FF Supplied Parts, together with the Parties’ rights
                                            and obligations in respect to shipping and delivery as well as tax, duty and other costs
                                            shall at all times be subject to applicable INCOTERMS set forth in this Agreement.

 

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		8.2.	Invoices;
                                            Payment Terms for FF81 Products, MS Supplied Parts (in the case of Special Orders), and FF
                                            Supplied Parts. The following terms shall apply in respect to invoicing and payment for
                                            the FF81 Products and MS Supplied Parts (in the case of Special Orders) sold by MS to FF
                                            and FF Supplied Parts sold by FF to MS:

 

		(a)	Currency.
                                            All Prices under this Agreement shall be calculated, quoted and paid in U.S. dollars (USD).
                                            As part of the annual Price adjustments under Section 8.1(c) and in order to minimize risks
                                            associated with the currency exchange rate fluctuations, the Parties agree as follows:

 

		(i)	In
                                            respect to the Price for the FF81 Products and FF Supplied Parts, if at any time during the
                                            Term, the Current Rate differs from the Base Rate by [***] or more, then the Parties shall
                                            discuss in good faith and agree to an adjustment to the Price and related terms as part of
                                            the annual adjustment of the Price under Section 8.1(c).

 

		(ii)	“Current
                                            Rate” means, as used at any particular date, the average of the telegraphic
                                            transfer buying (the “TTB”) rate quoted by a reputable financial institution
                                            as agreed to by the Parties at the final rate of the U.S. dollar (USD) against Korean won
                                            (KRW), described as the total amount of U.S. dollars per one thousand one hundred (1100)
                                            Korean won, during each of the six (6) calendar months immediately preceding such date.   

 

		(iii)	“Base
                                            Rate” means, as used at any particular date, the currency exchange rate of the
                                            U.S. dollar (USD) against Korean won (KRW), described as the total amount of U.S. dollars
                                            per one thousand one hundred (1100) Korean won, used by the Parties in determining the then
                                            existing Price (whether the Initial FF Price or the Price as adjusted pursuant to this Section
                                            and Section 8.1(c)).    

 

		(b)	MS
                                            Invoicing for FF81 Products (and MS Supplied Parts, in the case of Special Orders). Upon
                                            acceptance (or deemed acceptance) by FF of the FF81 Products pursuant to Section 7.6(b),
                                            MS shall issue an invoice to FF for such FF81 Products containing the following information
                                            (each, an “MS Invoice”): (i) the number, description and quantity of FF81
                                            Products ordered; (ii) the quantity of FF81 Products delivered by FF81 Product number; (iii)
                                            the Product Purchase Order number, (iv) the Price for each FF81 Product; and (v) the total
                                            Price for the FF81 Products. The Parties shall use their commercially reasonable efforts
                                            to promptly resolve any Dispute arising in connection with any MS Invoice. In case any MS
                                            Supplied Parts shall be ordered as Special Orders under Section 5.11, the foregoing terms
                                            on invoice shall apply to such orders, in which event the term MS Invoice shall include the
                                            terms of payment due by FF to MS under such Special Orders.

 

		(c)	FF
                                            Invoicing for FF Supplied Parts. At the time the FF Supplied Parts are delivered and
                                            have been accepted by MS pursuant to Sections 9.9(d) and 9.10(b), respectively, FF shall
                                            issue an invoice to MS for such FF Supplied Parts containing the following information (each,
                                            an “FF Invoice”): (i) the number, description and quantity of FF Supplied
                                            Parts ordered; (ii) the quantity of FF Supplied Parts delivered by FF Supplied Parts number;
                                            (iii) the Parts Purchase Order number, (iv) the Price for each FF Supplied Parts; and (v)
                                            the total Price for the FF Supplied Parts. The Parties shall use their commercially reasonable
                                            efforts to promptly resolve any Dispute arising in connection with any FF Invoice.

 

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		(d)	Payment
                                            for FF81 Products, MS Supplied Parts and FF Supplied Parts. Subject to the terms and
                                            conditions contained herein, all payments of the Prices, as accurately reflected on a properly
                                            submitted Invoice hereunder (less any applicable discounts or offsets), for each conforming
                                            FF81 Product, MS Supplied Parts or FF Supplied Part shall be made as follows:

 

		(A)	if
                                            payment of Prices for the FF81 Products, [***].

 

		(B)	if
                                            payment of Prices for the MS Supplied Parts, [***].

 

		(C)	if
                                            payment of Prices for the FF Supplied Parts, [***].

 

All
payments for PSI and any planning and startup cost will be paid in accordance with the payment schedule set out in Annex 47.

 

		(e)	Set-off.
                                            Either Party (the “Offsetting Party”) may offset (the “Offset”)
                                            any amount due the Offsetting Party from the other Party (the “Non-Offsetting Party”)
                                            against any amount due the Non-Offsetting Party by the Offsetting Party, provided
                                            that the Offsetting Party shall, prior to such Offset, provide the Non-Offsetting Party written
                                            notice setting forth the reasons for such Offset. If the Non-Offsetting Party objects to
                                            such Offset, it shall deliver to the Offsetting Party a written explanation detailing its
                                            reasons for refusing such Offset not later than thirty (30) days following the receipt by
                                            Non-Offsetting Party of such notice, in which event the Parties shall enter into good faith
                                            discussions on the validity of such Offset and no such Offset shall be allowed until agreed
                                            to between the Parties.

 

		9.	SUPPLY,
                                            PROCUREMENT AND SOURCING OF PARTS

 

		9.1.	Nominated
                                            Suppliers.

 

		[***]	

 

		(c)	MS
                                            Contract Supplier Parts. Unless otherwise mutually agreed by MS and FF, MS shall issue
                                            purchase orders to each MS Contract Supplier for the FF81 Parts and services required from
                                            such MS Contract Supplier (the “MS Contract Supplier Parts”) and shall
                                            pay all costs and expenses directly to such MS Contract Supplier. MS shall defend, indemnify
                                            and hold the FF Indemnitees harmless from all claims (the “MS Contract Supplier
                                            Claims”) arising out of its violation of any MS-NS Agreement or any of its dealings
                                            with any MS Contract Supplier, including its failure to pay the amounts owed to any MS Contract
                                            Supplier, except to the extent such MS Contract Supplier Claims are attributable to an Excusable
                                            Delay by FF. Nomination by FF of a MS Contract Supplier does not relieve MS of any of its
                                            obligations under this Agreement.

 

		(d)	FF
                                            Contract Suppliers. FF may contract directly with any third party (including Affiliates
                                            of MS or FF) for the purchase and supply of FF Supplied Parts (each such third party, a “FF
                                            Contract Supplier” and each contract between FF and a FF Contract Supplier, a “FF
                                            Contract Supplier Agreement”). FF shall have the sole and exclusive right and authority
                                            to negotiate and enforce the terms and conditions of each FF Contract Supplier Agreement
                                            directly with each FF Contract Supplier. Unless otherwise mutually agreed by MS and FF, FF
                                            shall issue purchase orders to each FF Contract Supplier for the FF81 Parts and services
                                            required from such FF Contract Supplier (the “FF Contract Supplier Parts”)
                                            and shall pay all costs and expenses directly to such FF Contract Supplier. FF shall defend,
                                            indemnify and hold the MS Indemnitees harmless from all claims (the “FF Contract
                                            Supplier Claims”) arising out of its violation of any FF-NS Joinder Agreement or
                                            any of its dealings with any FF Contract Supplier, including its failure to pay the amounts
                                            owed to any FF Contract Supplier, except to the extent that such FF Contract Supplier Claims
                                            are attributable to the fault of MS or any of its Affiliates.

 

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		(e)	Parts
                                            Development. FF shall (i) pay directly (if so requested by MS Contract Supplier and agreed
                                            by FF), or (ii) reimburse MS (A) directly or (B) indirectly as part of the FF81 Product Price
                                            if allocated as part of such Price, for the actual and documented costs of development of
                                            any FF81 Parts (including the cost of development of any Tooling related to such FF81 Parts)
                                            incurred by MS or any MS Contract Supplier, if and to the extent such development and the
                                            costs thereof are specifically approved in writing in advance by FF.

 

		9.2.	Supply,
                                            Procurement, Sourcing and Delivery of FF81 Parts.

 

		(a)	MS
                                            Supplied Parts. Notwithstanding any FF-NS Joinder Agreement, MS shall (i) be responsible
                                            for the sourcing of all MS Supplied Parts and (ii) upon written request by FF, provide a
                                            true and complete listing of all MS Supplied Parts and (iii) be solely responsible for the
                                            quality, warranties and defects related to such MS Supplied Parts other than any Design &
                                            Engineering Defect of such MS Supplied Parts. At any time upon reasonable notice to MS, FF
                                            may change any such MS Supplied Parts to FF Supplied Parts if FF reasonably determines the
                                            same to be necessary or desirable.

 

		(b)	FF
                                            Supplied Parts. FF shall (i) be responsible for the sourcing of all FF Supplied Parts,
                                            (ii) upon written request by MS, provide a true and complete listing of all FF Supplied Parts
                                            and (iii) be solely responsible for the quality, warranties and defects related to such FF
                                            Supplied Parts.

 

		(c)	Delivery.
                                            Except as otherwise set forth in this Agreement, the FF INC. IPC and Logistics Requirements
                                            contained in Annex 15 shall (i) apply to the delivery of FF81 Parts and the provision
                                            of any other services and (ii) be finalized prior to SOP Korea consistent with the terms
                                            of this Agreement. In case of conflict between the terms set forth in Annex 15 and
                                            this Agreement, the terms in this Agreement shall control and prevail in all instances.

 

		9.3.	Parts
                                            Purchase Orders for FF Supplied Parts.

 

		(a)	Schedule.
                                            During the month in which the Product Purchase Order placed by FF is accepted by MS, MS shall
                                            place a purchase order with FF for the FF Supplied Parts to be used for the manufacture of
                                            the FF81 Products included in such Product Purchase Order (each such purchase order, a “Parts
                                            Purchase Order”) in accordance with Schedule 9.3(a).

 

		(b)	Form.
                                            Each Parts Purchase Order for the FF Supplied Parts shall specify: (i) the quantity of the
                                            units of the FF Supplied Parts ordered, (ii) the price of each unit of the FF Supplied Parts
                                            ordered, and (iii) delivery terms (including the scheduled delivery date and location), in
                                            form substantially similar to the form described in Schedule 9.3(b) (Form of
                                            Parts Purchase Order). The Parts Purchase Orders shall be in electronic form and submitted
                                            via EDI.

 

		9.4.	MS
                                            Deviation; Adjustment of Parts Purchase Orders.

 

		(a)	MS
                                            Deviation. The aggregate number of the units of the FF Supplied Parts under a Parts Purchase
                                            Order for the FF81 Products for a given month may deviate from the corresponding month in
                                            the Production Plan (the “MS Deviation”) so long as such MS Deviation
                                            is (i) a decrease in the quantity ordered by less than or equal to the Deviation
                                            Percentage, (ii) an increase in the quantity ordered by less than or equal to
                                            the Deviation Percentage, or (iii) agreed to by FF, such agreement not to be unreasonably
                                            withheld, conditioned or delayed.

 

		(b)	MS
                                            Deviation Adjustment. If MS deems that (i) the MS Deviation for a given month is likely
                                            to be (A) an increase and (B) greater than the Deviation Percentage or (ii) such MS Deviation
                                            is not otherwise authorized hereunder, it shall promptly inform FF thereof in writing prior
                                            to issuing the Parts Purchase Order for such month. If such MS Deviation is agreeable to
                                            FF, MS shall issue a Parts Purchase Order based on such MS Deviation, which shall then be
                                            deemed accepted by FF. If such MS Deviation is not acceptable to FF, then the Parties shall
                                            discuss in good faith and use commercially reasonable efforts to agree to alternative arrangements,
                                            including capacity allocations, provided that the foregoing shall not limit FF’s right
                                            to reject the unpermitted MS Deviation portion of the Parts Purchase Order based on Non-Conformity
                                            to the corresponding Production Plan.

 

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		(c)	Parts
                                            Order Adjustment. From time to time during the Term, MS may adjust or modify any existing
                                            Parts Purchase Order for a given month, which may result in the increase or decrease in the
                                            aggregate number of units of FF Supplied Parts to be purchased by MS from FF during the corresponding
                                            forecasted month as indicated in the corresponding Production Plan (such excess or shortfall,
                                            the “Parts Order Adjustment”) by issuing a written notice to FF thereof
                                            prior to: (i) if the adjustment requires an increase in the quantity ordered, [***] prior
                                            to the scheduled delivery date, and (ii) if the adjustment requires a decrease in the quantity
                                            ordered, MS’s receipt of the confirmation setting forth FF’s acceptance of the
                                            Parts Purchase Order so long as, in either such case, any deviation in the aggregate number
                                            of the units of the FF Supplied Parts under such Parts Purchase Order, after incorporating
                                            such Parts Order Adjustment from the corresponding forecasted month in the Production Plan
                                            is (A) less than or equal to the Deviation Percentage, or (B) agreed to by FF.

 

		9.5.	Acceptance
                                            of Parts Purchase Orders.

 

		(a)	Confirmation.
                                            Each Parts Purchase Order shall be deemed accepted by FF upon issuance by MS of such Parts
                                            Purchase Order to FF so long as such Parts Purchase Order is consistent with the corresponding
                                            Product Purchase Order. Without limiting the foregoing, FF shall acknowledge the receipt
                                            of each Parts Purchase Order and confirm its acceptance or rejection within [***] following
                                            its receipt thereof. For the avoidance of doubt, FF shall not be entitled to reject any Parts
                                            Purchase Orders that is consistent with the terms of this Agreement.

 

		(b)	If
                                            FF is unable to supply or otherwise fulfill any (or all) of the FF Supplied Parts for a given
                                            month for any reason (including as a result of a Force Majeure Event), then, without prejudice
                                            to all rights and remedies available to MS in respect thereto, the Parties shall discuss
                                            in good faith the supply of such parts by a MS or MS Contract Supplier or cancellation of
                                            such Parts Purchase Order and the corresponding Product Purchase Order.

 

		(c)	Notwithstanding
                                            the foregoing and for the avoidance of doubt, in no event shall MS be liable for any delay
                                            or other failure in manufacturing and supplying any FF81 Product to FF resulting from the
                                            failure by FF or any FF Contract Supplier to supply FF Supplied Parts as ordered by MS consistent
                                            with the terms of this Agreement.

 

		9.6.	Exclusivity.

 

		(a)	FF
                                            shall be the sole and exclusive supplier of the FF Supplied Parts to MS in the Manufacturing
                                            Territory.

 

		(b)	MS
                                            shall purchase the FF Supplied Parts exclusively from FF (and/or its Affiliates) for the
                                            manufacturing and assembly of the FF81 Products for sale and distribution by FF in the applicable
                                            FF Sales Territory under the brand of FF.

 

		9.7.	Shipment
                                            and Delivery of FF Supplied Parts; Passage of Title and Risk of Loss.

 

		(a)	Delivery
                                            of FF Supplied Parts. FF shall manufacture, deliver and supply (or shall cause each third
                                            party FF Contract Supplier to manufacture, deliver and supply) to MS the FF Supplied Parts
                                            in accordance with the corresponding Parts Purchase Orders submitted in accordance with the
                                            terms of this Agreement.

 

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		(b)	Minimum
                                            Monthly Fill Rate. FF shall achieve each month during the Term an Actual Parts Fill Rate
                                            equal to or greater than [***] (the “Minimum Parts Fill Rate”). FF shall
                                            calculate and report to MS, on a monthly basis, the Actual Parts Fill Rate.

 

		(c)	Effect
                                            of Default. [***].

 

		(d)	INCOTERMS.
                                            All prices are stated and all FF Supplied Parts purchased hereunder shall be delivered in
                                            accordance with INCOTERMS DDP (Gunsan Plant).

 

		(e)	Packaging.
                                            FF shall package (or shall cause each FF Contract Supplier package) the FF Supplied Parts
                                            to prevent dampness, rust, moisture, erosion and shock, and in a manner that shall be suitable
                                            for multiple transportation modes. FF shall be liable for any damage to or loss of the FF
                                            Supplied Parts attributable to inadequate or improper packing.

 

		(f)	Passage
                                            of Title; Risk of Loss. Title to the FF Supplied Parts shall transfer from FF to MS at
                                            the same time as risk of loss transfers from FF to MS in accordance with the INCOTERM set
                                            forth in Section 9.7(d) above.

 

		(g)	Time
                                            is of Essence. TIME IS OF THE ESSENCE AS TO DELIVERY OF FF SUPPLIED PARTS.

 

		(h)	Anticipated
                                            Delay in Delivery. If, after accepting (or being deemed to have accepted) a Parts Purchase
                                            Order, FF anticipates that it will likely to be unable to meet the delivery schedule for
                                            part or all of the units of the FF Supplied Parts that are subject to any Parts Purchase
                                            Order, it shall immediately notify MS in writing, which such notice shall set forth the anticipated
                                            delivery dates, provided that such notice shall not release FF from its liabilities any related
                                            breach of this Agreement and shall not require MS to accept any late delivery or waive any
                                            of its rights or remedies with respect thereto. Upon receipt of the foregoing notice by FF
                                            of the anticipated delay and without limiting any rights and remedies available to MS for
                                            such delayed delivery, MS may at its election: (i) cancel the Parts Purchase Order, in whole
                                            or in part, in its sole discretion, or (ii) accept the revised delivery schedule as proposed
                                            by FF. Such election shall not limit the other remedies to which MS may be entitled under
                                            this Agreement, at law or in equity.

 

		9.8.	[***]

 

		9.9.	Supply
                                            of FF Supplied Parts for Special Reasons.

 

		(a)	Special
                                            Parts Order. In the event MS requires any number of any FF Supplied Parts due to special
                                            reasons that are not the fault of FF, including damage to any FF Supplied Parts after the
                                            delivery, MS shall issue to FF a separate order (each, a “Special Parts Order”),
                                            which such Special Parts Order shall set forth: (i) the description of such FF Supplied Parts,
                                            (ii) quantity ordered, and (iii) terms of delivery, including required delivery date and
                                            delivery location, in form substantially similar to the form described in Schedule
                                            9.5(B) (Form of Parts Purchase Order) or in such other form as may be agreed between
                                            the Parties. The Special Parts Order shall be in electronic form submitted via EDI.

 

		(b)	Allocation
                                            of Cost. The cost for such Special Parts Order (including the price of such FF Supplied
                                            Parts and the cost of delivery) shall be borne by MS.

 

		(c)	Acceptance
                                            and Rejection of Special Parts Order; Confirmation.

 

		(i)	Confirmation.
                                            FF shall issue a confirmation in respect to each Special Parts Order issued hereunder within
                                            two (2) Business Days following its receipt thereof. Each such confirmation shall (A) reference
                                            the applicable Special Parts Order number and (B) confirm acceptance or, subject to other
                                            terms of this Agreement, rejection of the Special Parts Order and (C) set forth, in the case
                                            of acceptance, the effective date of acceptance, and in the case of rejection, the basis
                                            for such rejection.

 

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		(ii)	Acceptance
                                            of Special Parts Order. If FF fails to issue a confirmation for a Special Parts Order
                                            within the time set forth above or otherwise commences performance under such Special Parts
                                            Order, FF shall be deemed to have accepted such Special Parts Order.

 

		(iii)	Notwithstanding
                                            the foregoing and for the avoidance of doubt, in no event shall FF be obligated to accept
                                            any Special Parts Order or otherwise supply to MS such FF Supplied Parts that are subject
                                            of the Special Parts Order unless and until it has accepted or deemed to have accepted such
                                            Special Parts Order.

 

		(d)	Shipping
                                            and Delivery. All Special Parts Orders for the FF Supplied Parts shall be delivered by
                                            INCOTERMS DDP (Gunsan Plant).

 

		10.	REPRESENTATIONS;
WARRANTIES; COVENANTS; PRODUCT WARRANTY

 

		10.1.	Mutual
                                            Representations, Warranties and Covenants. Each Party represents, warrants and covenants
                                            to the other Party that:

 

		(a)	it
                                            has the requisite power, authority and authorization to enter into this Agreement and carry
                                            out the terms hereof;

 

		(b)	the
                                            person signing this Agreement on behalf of such Party has the requisite corporate authority
                                            to do so;

 

		(c)	the
                                            execution, delivery and performance of this Agreement by such Party are not prohibited or
                                            impaired by any judgment or other agreement to which such Party is a party or by which it
                                            is bound;

 

		(d)	it
                                            has, and throughout the Term, will retain the right, power, and authority to grant the rights
                                            hereunder to its Intellectual Property Rights pursuant to the terms of this Agreement and
                                            is not currently aware of any risk or allegation of infringement of its Intellectual Property
                                            Rights;

 

		(e)	it
                                            has not granted and will not grant any licenses or other contingent or non-contingent right,
                                            title, or interest under or relating to the Intellectual Property Rights that will conflict
                                            with its obligations under this Agreement; and

 

		(f)	it
                                            is in compliance with, and shall at all times comply with, all Applicable Laws pertaining
                                            to: (i) in the case of FF, all of FF’s activities and performances of its obligations
                                            hereunder and (ii) in the case of MS, the manufacture of the FF81 Products in the Manufacturing
                                            Territory and all of MS’s activities and performances of its obligations hereunder.

 

		10.2.	FF
                                            Representations, Warranties and Covenants; Product Warranty.

 

		(a)	FF
                                            Representations, Warranties and Covenants. FF represents, warrants and covenants to MS
                                            that:

 

		(i)	FF
                                            has and will have the right to accept and purchase all FF81 Products to be supplied pursuant
                                            to a Product Purchase Order;

 

		(ii)	it
                                            has and will have ownership rights necessary to convey good and marketable title to all FF
                                            Supplied Parts, free and clear of all liens, encumbrances, security interests or other claims
                                            at the time of its delivery pursuant to the terms of this Agreement (other than any liens,
                                            encumbrances, security interests or other claims created by or through MS);

 

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		(iii)	it
                                            has the full right, power, and authority (by ownership, license, or otherwise) to use any
                                            and all FF Background IPR, FF Owned Improvements developed or created by FF, and Process
                                            New Technology or Other New Technology developed or created by FF, and licenses granted herein
                                            by FF and use of any of the foregoing by MS pursuant to this Agreement shall not infringe
                                            upon, violate or misappropriate the Intellectual Property Rights of any Person; and

 

		(iv)	each
                                            FF Supplied Part will be free and clear of all liens, encumbrances, security interests or
                                            other claims at the time of its delivery pursuant to the terms of this Agreement (other than
                                            any liens, encumbrances, security interests or other claims created by or through FF).

 

		(b)	FF
                                            Product Warranty. FF warrants to MS, for the applicable FF Warranty Period (as defined
                                            below), that each of FF Supplied Part shall at the time of delivery hereunder (each, a “FF
                                            Warranty”):

 

		(i)	Each
                                            FF Supplied Part shall at the time of delivery hereunder:

 

		(A)	be
                                            new;

 

		(B)	conform,
                                            in all respects, to the Basic Specifications;

 

		(C)	conform,
                                            in all respects to FF’s Quality Standards;

 

		(D)	be
                                            free from any FF Manufacturing Defect, or Design & Engineering Defects by FF or any FF
                                            Contract Supplier;

 

		(E)	be
                                            in good, usable and merchantable condition; and

 

		(F)	have
                                            been handled properly up to the time of acceptance by MS or its authorized representative
                                            or designated agent;

 

		(c)	Survival.
                                            The foregoing representations and warranties shall survive and not be impacted by FF’s
                                            delivery of any FF Supplied Part, MS’s receipt, inspection or acceptance of any FF
                                            Supplied Part or the manufacture and assembly of the FF81 Products from the FF Supplied Parts
                                            in accordance with this Agreement.

 

		(d)	Pass
                                            Through. Notwithstanding the foregoing or any provision of this Agreement to the contrary,
                                            to the extent that any warranty, guarantee or other protection in respect of any FF Supplied
                                            Part has been or is made available to FF, FF shall, to the fullest extent that it is able,
                                            pass on the benefit of such warranty, guarantee or protection to MS.

 

		(e)	Exclusions.
                                            Notwithstanding the foregoing or any provision of this Agreement to the contrary, FF makes
                                            no, and hereby disclaims any, representations or warranties and shall not be liable for,
                                            and FF Warranties shall not apply to, any defect in the FF81 Supplied Parts:

 

		[***]	

 

(each
of the foregoing events, an “Exclusion from FF Warranty”).

 

		(f)	Warranty
                                            Period. “FF Warranty Period” shall be from the date of delivery of
                                            the FF Supplied Parts to MS and continue until delivery of the FF81 Products by MS to FF.

 

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		10.3.	MS
                                            Representations, Warranties and Covenants; Product Warranty.

 

		(a)	MS
                                            Representations, Warranties and Covenants. MS represents, warrants and covenants to FF
                                            that:

 

		(i)	it
                                            is and at all times during the Term shall be in possession of all Approvals necessary to
                                            manufacture, render, process, package, deliver and sell to FF the FF81 Products; and MS has
                                            and will have the right to render, sell and deliver all FF81 Products to be supplied pursuant
                                            to a Product Purchase Order; and

 

		(ii)	it
                                            has and will have ownership rights necessary to convey good and marketable title to all FF81
                                            Product, free and clear of all liens, encumbrances, security interests or other claims at
                                            the time of its delivery pursuant to the terms of this Agreement (other than any liens, encumbrances,
                                            security interests or other claims created by or through FF);

 

		(iii)	it
                                            has the full right, power, and authority (by ownership, license, or otherwise) to use any
                                            and all MS Background IPR, any MS Owned Improvements developed or created by MS, and any
                                            Process New Technology or Other New Technology developed or created by MS, and licenses granted
                                            herein by MS and use of any of the foregoing by FF pursuant to this Agreement shall not infringe
                                            upon, violate or misappropriate the Intellectual Property Rights of any Person; and

 

		(iv)	each
                                            of the FF81 Product and MS Supplied Parts, at the time of delivery to FF, will be free and
                                            clear of all liens, encumbrances, security interests or other claims (other than any liens,
                                            encumbrances, security interests or other claims created by or through FF).

 

		(b)	MS
                                            Product Warranty. MS warrants to FF, for the applicable MS Warranty Period (as defined
                                            below), that each of the FF81 Product and MS Supplied Parts shall at the time of delivery
                                            hereunder:

 

		(i)	be
                                            new;

 

		(ii)	conform,
                                            in all respects, to the Basic Specifications;

 

		(iii)	conform,
                                            in all respects, to FF’s Quality Standards;

 

		(iv)	be
                                            free from MS Manufacturing Defects;

 

		(v)	be
                                            in good, usable and merchantable condition; and

 

		(vi)	have
                                            been handled and installed properly up to the time of delivery to FF or its authorized representative
                                            or designated agent.

 

Each
of the warranties in this Section 10.3(b) is referred to herein as “MS Warranty”.

 

		(c)	Survival.
                                            The foregoing representations and warranties shall survive and not be impacted by MS’s
                                            delivery of any FF81 Product or FF’s receipt, inspection or acceptance of any FF81
                                            Product in accordance with this Agreement.

 

		(d)	Exclusions;
                                            Pass Through. Notwithstanding the foregoing or any provision of this Agreement to the
                                            contrary:

 

		(i)	MS
                                            makes no, and hereby disclaims any, representations or warranties and shall not be liable
                                            for, and MS Warranties shall not apply to, any defect in the FF81 Products or MS Supplied
                                            Parts:

 

[***]

 

(each
of the foregoing events, an “Exclusion from MS Warranty”); and

 

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		(ii)	to
                                            the extent that any warranty, guarantee or other protection in respect of any FF81 Product
                                            has been or is made available to MS, MS shall, to the fullest extent that it is able, pass
                                            on the benefit of such warranty, guarantee or protection to FF. If, through commercially
                                            reasonable efforts, MS is unable to pass the benefit of such warranty, guarantee or protections
                                            to FF, in each instance, MS shall give FF prompt notice thereof and provide all reasonable
                                            cooperation as requested by FF such that FF may enter into a FF-NS Joinder Agreement.

 

		(e)	“MS
                                            Warranty Period” shall mean, as applicable:

 

		[***]	

 

		(f)	[***]

 

		(g)	Non-Exclusive
                                            Warranty; Authorized Purchasers. MS agrees that the MS Warranty extends to all FF81 Products
                                            (other than FF Supplied Parts), and that such warranties shall not be disclaimed or otherwise
                                            limited in any way due to the fact that any FF81 Products have been produced in whole or
                                            in part by one or more of MS’s own suppliers (regardless of status as a Nominated Supplier).
                                            The MS Warranty is in addition to, and shall not be construed as restricting or limiting,
                                            any warranties or remedies of FF, in either case express or implied, provided by Applicable
                                            Law. The MS Warranty is fully transferrable and assignable to FF’s customers and any
                                            other direct purchaser or consumer of any FF81 Product, including FF’s accounts, Affiliates
                                            and subsidiaries (collectively, the “Authorized Purchasers”). Any attempt
                                            by MS to limit, disclaim or restrict the MS Warranty shall be null and void.

 

		10.4.	FF
                                            Remedies for Breach of MS Warranty.

 

		(a)	Notice
                                            of Breach. In the event that MS breaches a MS Warranty (and such breach is not due to
                                            any Exclusion from MS Warranty), FF shall notify MS in writing, which such notice shall include
                                            a statement describing in reasonable detail such breach of MS Warranty.

 

		(b)	Joint
                                            Investigation; Dispute. Within ten (10) Business Days following receipt by MS of written
                                            notice under paragraph (a) above, the Parties shall conduct a joint investigation to determine
                                            the validity of such breach. If the Parties cannot agree on the validity of such breach after
                                            commencement of the joint investigation, then any Dispute arising in connection therewith
                                            shall then be resolved in accordance with the dispute resolution procedures set forth in
                                            Section 21.4 of this Agreement.

 

		(c)	Remedies.
                                            If a breach by MS of a MS Warranty has occurred, then FF, in its reasonable discretion based
                                            on the nature of such breach, may, [***].

 

		10.5.	MS
                                            Remedies for Breach of FF Warranty.

 

		(a)	Notice
                                            of Breach. In the event that FF breaches a FF Warranty (and such breach is not due to
                                            any Exclusion from FF Warranty), MS shall notify FF in writing, which such notice shall include
                                            a statement describing in reasonable detail such breach of FF Warranty.

 

		(b)	Joint
                                            Investigation; Dispute. Within ten (10) Business Days following receipt by FF of written
                                            notice under paragraph (a) above, the Parties shall conduct a joint investigation to determine
                                            the validity of such breach. If the Parties cannot agree on the validity of such breach after
                                            commencement of the joint investigation, then any Dispute arising in connection therewith
                                            shall then be resolved in accordance with the dispute resolution procedures set forth in
                                            Section 21.4 of this Agreement.

 

		(c)	Remedies.
                                            Notwithstanding the foregoing or any provision of this Agreement to the contrary, if a breach
                                            by FF of a FF Warranty has occurred, then [***].

 

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		10.6.	Third
                                            Party Products.

 

		(a)	MS
                                            shall secure and administer for FF any and all necessary sublicenses or direct licenses for
                                            the third party software, hardware, components, parts, equipment and other products used
                                            or contained within any MS Supplied Parts and assembled into the FF81 Products provided hereunder
                                            (“MS Third Party Products”).

 

		(b)	FF
                                            shall secure and administer for MS any and all necessary sublicenses or direct licenses for
                                            the third party software, hardware, components, parts, equipment and other products used
                                            or contained within any FF Supplied Parts and assembled into the FF81 Products provided hereunder
                                            (“FF Third Party Products”).

 

		(c)	Notwithstanding
                                            the terms of the Third Party Products license or purchase agreements, (i) MS shall remain
                                            primarily liable to FF for such MS Third Party Products and all of MS’s obligations
                                            under this Agreement in respect thereto, (ii) FF shall remain primarily liable to MS for
                                            such FF Third Party Products and all of FF’s obligations under this Agreement in respect
                                            thereto, and (iii) nothing in such agreements shall increase the obligations of FF or MS
                                            or lessen or obviate any of the rights and privileges granted to FF or MS with respect to
                                            such items hereunder.

 

		10.7.	Corrective
                                            Action Plan. At the written request of (a) FF in respect to any breach by MS of Section
                                            10.3 or (b) MS in respect to any breach by FF of Section 10.2, the other Party shall provide
                                            a written corrective action plan with respect to such breach. The requesting Party shall
                                            review this plan and notify the submitting Party if the requesting Party determines the plan
                                            is insufficient. If such plan is reasonably deemed insufficient, the submitting Party shall
                                            provide either a revised corrective action plan or additional information as to why the submitting
                                            Party believes the original plan will satisfactorily address the cause for the warranty claim.
                                            The Parties will use the template for a corrective action plan found in Annex 19.
                                            Any such corrective actions by a breaching Party shall be without prejudice to all other
                                            remedies under this Agreement, at law or in equity.

 

		10.8.	Disclaimer
                                            of Other Warranties. EXCEPT FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES SET FORTH
                                            IN THIS AGREEMENT, (A) NEITHER PARTY NOR ANY PERSON ON SUCH PARTY’S BEHALF HAS MADE
                                            OR MAKES ANY EXPRESS OR IMPLIED REPRESENTATION OR WARRANTY WHATSOEVER, EITHER ORAL OR WRITTEN
                                            (INCLUDING ANY IMPLIED WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE), ALL OF WHICH ARE
                                            EXPRESSLY DISCLAIMED, AND (B) EACH PARTY ACKNOWLEDGES THAT IT HAS NOT RELIED UPON ANY REPRESENTATION
                                            OR WARRANTY MADE BY THE OTHER PARTY, OR ANY OTHER PERSON ON THE OTHER PARTY’S BEHALF,
                                            EXCEPT AS SPECIFICALLY PROVIDED IN THIS AGREEMENT.

 

		11.	IMPROVEMENTS

 

		11.1.	Improvements
                                            to FF81 Parts, FF81 Model or FF81 Products.

 

		(a)	If
                                            any Improvement to any of the FF81 Parts, the FF81 Model, the FF81 Product or Basic Specification
                                            is required, proposed or introduced by either Party (the “Proposing Party”),
                                            including as a result of (i) any change in Basic Specification or (ii) compliance with Homologation
                                            Requirements or other Applicable Law in the FF Sales Territory or the Manufacturing Territory,
                                            or otherwise, the Proposing Party shall notify the other Party in writing (the “Notice
                                            of Improvement”) as soon as possible prior to the date on which such Improvement
                                            is proposed to be applied to such FF81 Parts, FF81 Model or FF81 Product, as applicable.

 

		(b)	Each
                                            Notice of Improvement shall include: (i) all Technical Information concerning the proposed
                                            Improvement, (ii) effective date on which such proposed Improvement shall be incorporated
                                            into such FF81 Parts, FF81 Model or FF81 Product, as applicable, together with the FF Sales
                                            Territory for such FF81 Model or FF81 Products, (iii) if such Improvement is for FF Supplied
                                            Parts or the FF81 Products, the proposed change to then current price and (iv) if available,
                                            anticipated cost of incorporating such Improvement to such FF81 Parts, the FF81 Model or
                                            the FF81 Product, as applicable.

 

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		(c)	Within
                                            thirty (30) days following the receipt of the foregoing Notice of Improvement by the other
                                            Party, the Parties shall enter into good faith discussions though the Cooperation Board regarding
                                            the terms of the proposed Improvements, including the allocation of costs to be incurred
                                            by the Parties in incorporating such Improvement, and determine whether such Improvement
                                            shall be incorporated into such FF81 Parts or FF81 Products, as applicable, and, upon agreement
                                            by the Parties on such terms, the proposed Improvement shall be undertaken and the associated
                                            costs shall be allocated as agreed between the Parties.

 

		(d)	No
                                            Improvement shall be applied to any such FF81 Parts or FF81 Products without mutual agreement
                                            between the Parties, and, if mutually agreed by the Parties, any such Improvements, shall
                                            become part of such FF81 Parts or FF81 Products, as applicable, as agreed by the Parties;
                                            [***].

 

		(e)	Without
                                            limiting the foregoing, subject to rights of the Parties under Section 15, each Party shall
                                            offer to the other Party for inclusion in the FF81 Products any Improvements owned by such
                                            Party (which shall be, in the case of MS, the MS Owned Improvements, or in the case of FF,
                                            the FF Owned Improvements) that are necessary for the FF81 Products to comply with any Applicable
                                            Law.

 

		12.	FF
SALE AND DISTRIBUTION OF FF81 PRODUCTS

 

		12.1.	FF
                                            Sales and Services Activities.

 

		(a)	As
                                            a general rule, the FF81 Products may be marketed, sold and distributed by FF in any of the
                                            FF Sales Territories (the “FF Sales and Service Activities”); provided,
                                            that FF shall be responsible for compliance with Applicable Laws in such FF Sales Territories.

 

		(b)	MS
                                            shall cooperate with FF in good faith in FF’s efforts to promote and sell the FF81
                                            Products and shall provide to FF all such assistance (the “MS Sales Support Services”)
                                            as may be reasonably required by FF in promoting the brand of FF, including the FF81 brand,
                                            carrying out the FF Sales and Services Activities or otherwise expanding the sales and distribution
                                            network in the FF Sales Territory upon the terms and conditions and for service fees described
                                            under Annex 33, which such cooperation shall be undertaken by the Parties as follows:

 

		(i)	FF
                                            shall prepare and define the details of nature and scope of the MS Sales Support Services
                                            (the “MS Service Description”);

 

		(ii)	Upon
                                            receipt of the MS Service Description, MS shall issue a quote for the service fees based
                                            on the labor cost index set forth in Annex 33 (the “MS Service Fee Quotation”);

 

		(iii)	Upon
                                            receipt of the MS Service Fee Quotation, FF shall determine if it would obtain such MS Sales
                                            Support Services from MS by issuing a written notice to MS as to its election.

 

		(iv)	If
                                            FF elects to engage MS for such MS Sales Support Services, MS shall undertake such MS Sales
                                            Support Services in accordance with the terms agreed between the Parties.

 

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		12.2.	FF
                                            Sales Territory. Annex 35 sets forth FF’s estimated sales territory or markets,
                                            estimated volumes by territory or market and estimated launch dates, all of which is subject
                                            to change by FF. If and to the extent any such change to Annex 35 may affect any of
                                            the rights and obligations of MS hereunder, FF shall provide to MS reasonable advance notice
                                            of such change.

 

		13.	CATASTROPHIC
DEFECTS; PRODUCT RECALLS

 

		13.1.	Catastrophic
                                            Defect. In addition to other obligations hereunder imposed upon MS, should any Catastrophic
                                            Defect (as defined below) of FF81 Products occur and notice thereof be given to MS, then,
                                            and in such event of a Catastrophic Defect, FF shall provide MS written notice thereof, which
                                            notice shall include reasonable details in respect to FF’s basis for concluding that
                                            such Catastrophic Defect has occurred. Promptly after receipt by MS, but in any event within
                                            ten (10) days, of written notice from FF of such Catastrophic Defect and subject to FF providing
                                            MS with reasonable access to relevant records and with reasonable cooperation in respect
                                            to the root cause of such Catastrophic Defect, MS shall develop and propose to FF, for FF’s
                                            approval, which approval shall not be unreasonably withheld, procedures for the prompt rectification
                                            of such Catastrophic Defect by providing, at its own expense, engineering efforts, parts,
                                            labor and all such other assistance as FF may reasonably request in order to remedy such
                                            Catastrophic Defect, both with respect to FF81 Products in use and in inventory of FF and
                                            FF’s customers. Promptly, but within ten (10) days of written notice from FF of a Catastrophic
                                            Defect, MS shall institute procedures, as mutually agreed by FF and MS, for the prompt rectification
                                            of such failure. [***]. If, upon inspection, the FF81 Products affected display the same
                                            deficiencies of design, material or workmanship out of which the Catastrophic Defect arose,
                                            then and in such event the procedures established in this Section 13.1 shall be followed
                                            with respect to such FF81 Products. For purposes of this Section 13.1, a “Catastrophic
                                            Defect” means any of the following: [***].

 

		13.2.	Recall
                                            Campaign; Corrective Measures.

 

		(a)	Notice.
                                            If either Party becomes aware of any defect or other concern with an FF81 Product that poses
                                            a safety or performance risk relating to the FF81 Model, including FF81 Products, or parts
                                            or components thereto, with respect to any FF Sales Territory that may reasonably be deemed
                                            to (i) constitute an actual or potential cause for any product defect, including safety-related
                                            defects, or otherwise, and (ii) necessitate a recall campaign, service campaign or similar
                                            program with respect to the FF81 Product in the respective FF Sales Territory in order to
                                            ensure compliance with Applicable Law (a “Recall Campaign”), such Party
                                            shall immediately notify in writing the other Party thereof, together with detailed information
                                            on the particular nature of the subject, relevant territory, affected production volume and
                                            the requirements under Applicable Law.

 

		(b)	Joint
                                            Investigation.

 

		(i)	If
                                            either Party reasonably believes that a Recall Campaign may be necessary, the Parties shall
                                            conduct a joint investigation (the “Joint Investigation”) to determine
                                            the nature and cause of such defect, assess and analyze the effect of such defect and determine
                                            the appropriate measures to cure such defect, including any measures to be implemented in
                                            compliance with the Applicable Law (the “Corrective Measures”). The determination
                                            of the existence, scope and nature of any such defect and the appropriate Corrective Measures
                                            shall be determined jointly by the Parties based on the results of the Joint Investigations.
                                            Corrective Measures shall be implemented by either or both Parties based on each Party’s
                                            ability to carry out or implement such Corrective Measures.

 

		(ii)	Each
                                            Party shall cooperate with the other Party in good faith in (A) conducting the Joint Investigation
                                            and (B) if the results of the Joint Investigation warrant any Corrective Measures, implementing
                                            such Corrective Measures by the appropriate Party or Parties. Each Party shall provide information
                                            and documentation reasonably requested by Governmental Authorities relating to any defect
                                            or potential defect or any non-compliance or alleged non-compliance with Applicable Law.

 

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		(iii)	Except
                                            to the extent Applicable Law provides otherwise, all Recall Campaigns or adjustments to consumer
                                            warranty programs with respect to FF81 Products shall be initiated by FF.

 

		(c)	Allocation
                                            of Cost; Liabilities. To the extent a Recall Campaign is attributable to a Party, such
                                            Party shall be responsible for the costs and expenses incurred by the Parties in connection
                                            with implementation of the applicable Corrective Measures, and shall reimburse the other
                                            Party (a “Non-Responsible Party”) for all reasonable costs and expenses
                                            incurred by such Non-Responsible Party (including the costs of notification, replacement
                                            parts, labor, penalties, fines and buy backs) as a result of the foregoing. Unless such defect
                                            constitutes a breach of the MS Warranty not due to any Exclusion from MS Warranty, in which
                                            case the Recall Campaign shall be attributable to MS, such Recall Campaign shall be attributable
                                            to FF for purposes hereof.

 

		(d)	Cooperation.
                                            In any Recall Campaign, MS shall fully cooperate with FF as reasonably requested by FF. FF
                                            shall control the process, and MS shall use commercially reasonable efforts to provide all
                                            necessary assistance and any necessary information or documentation to FF in connection with
                                            such Recall Campaign. MS shall take any and all reasonably necessary and appropriate actions
                                            (as reasonably requested by FF or as required of MS by Applicable Law) relating to, arising
                                            out of, or in connection with the Recall Campaign, including: (i) conducting engineering
                                            efforts and investigations to identify and remedy the defect; (ii) conducting independent
                                            testing and technical consulting to help identify and remedy the defect; (iii) completing
                                            all reports and notices to and cooperation with the NHTSA, the U.S. Consumer Product Safety
                                            Commission and other Governmental Authorities; (iv) filing and distributing all other necessary
                                            recall notices and plans, corrective action programs and other related documents; and (v)
                                            maintaining and compiling all necessary identification criteria for the defective FF81 Products.
                                            MS shall respond promptly (but no later than two (2) Business Days thereafter) to any question
                                            from FF or request for information received by FF pertaining to the production or performance
                                            of any FF81 Product or any Recall Campaign. Each Party shall provide to the other Party all
                                            necessary information or documentation in its possession arising out of the Recall Campaign
                                            or any similar program, including a MS quality assurance program. Except as required by Applicable
                                            Law, MS shall not make any disclosure to the public or media with respect to any Recall Campaign
                                            or defect without the prior written permission of FF. Nothing contained in this Section 13.2(d)
                                            will preclude FF from taking such action as may be required of it under Applicable Law. [***]

 

		14.	TECHNICAL
ASSISTANCE; ADDITIONAL SERVICES

 

		14.1.	FF
                                            Technical Assistance. In addition to providing the Basic Specifications, if and to the
                                            extent mutually agreed in writing in advance by the Parties, FF may provide to MS reasonable
                                            and appropriate additional available Technical Information and/or technical and engineering
                                            assistance as determined by FF to be beneficial to MS to manufacture and assemble the FF81
                                            Products, provide after-sale maintenance services, or carry out the FF81 Collaboration in
                                            the Manufacturing Territory (collectively, the “FF Technical Assistance”).
                                            [***]

 

		14.2.	MS
                                            Technical Assistance. In addition to other services and assistance of MS referenced under
                                            this Agreement, if and to the extent mutually agreed in writing in advance by the Parties,
                                            MS may provide to FF reasonable and appropriate additional available Technical Information
                                            and/or technical and engineering assistance as agreed by the Parties upon request by FF(collectively,
                                            the “MS Technical Assistance”). [***]

 

		14.3.	Additional
                                            Services. If due to changes in the Basic Specifications by FF, additional or modified
                                            manufacturing steps or actions are required by MS for the manufacture of the FF81 Product,
                                            MS shall notify FF in advance, upon which event, and as a condition to the effectiveness
                                            of any such change, the Parties shall agree upon any additional compensation shall be paid
                                            by FF to MS (on account of additional manufacturing costs actually incurred) as further set
                                            forth in Annex 33 and as agreed on by the Parties. Any changes in engineering will
                                            be processed and documented according to the Change Management Process according to Annex
                                            28.

 

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		15.	INTELLECTUAL
                                            PROPERTY RIGHTS

 

		15.1.	Ownership
                                            of Background IPR and Foreground IPR. As between the Parties, the Parties agree that
                                            the title to and ownership of the following Intellectual Property Rights shall be as follows:

 

		(a)	all
                                            FF Background IPR shall remain vested solely and exclusively with FF;

 

		(b)	all
                                            MS Background IPR shall remain vested solely and exclusively with MS;

 

[***]

 

		15.2.	Assignment.

 

		(a)	Assignment
                                            of FF Intellectual Property by MS to FF.

 

		(i)	To
                                            effectuate the allocation of ownership of Intellectual Property Rights detailed in Section
                                            15.1 in accordance therewith, if and to the extent MS may, under Applicable Law, be entitled
                                            to claim any ownership interest in the FF Owned Foreground IPR (collectively and together
                                            with the FF Background IPR, the “FF Intellectual Property”), MS hereby
                                            transfers, grants, conveys, assigns, and relinquishes exclusively to FF all of MS’s
                                            right, title, and interest in and to such FF Intellectual Property, including all Intellectual
                                            Property Rights therein, in perpetuity or for the longest period otherwise permitted by law.

 

		(ii)	MS
                                            shall disclose promptly to FF any FF Intellectual Property made, created or developed by
                                            MS during the Term, and MS shall, upon FF’s request, execute or have its employees,
                                            contractors or agents execute any and all applications, assignments and other documents to
                                            perfect and evidence FF’s ownership of the FF Intellectual Property and otherwise promptly
                                            assist FF in all of its reasonable efforts seeking to protect any and all Intellectual Property
                                            Rights in the FF Intellectual Property at FF’s expense, in any and all countries in
                                            the world.

 

		(iii)	Any
                                            creation of material constituting FF Intellectual Property, including the creation of any
                                            copyrightable subject matter, shall be considered “work made for hire” to the
                                            fullest extent permitted by Applicable Law, to be owned exclusively by FF.

 

		(iv)	To
                                            the extent that any such material, under Applicable Law, may not be considered works made
                                            for hire, MS hereby assigns to FF the ownership of copyright in such materials, without the
                                            necessity of any further consideration, and FF shall be entitled to obtain and hold in its
                                            own name all copyrights in respect of such materials.

 

		(v)	MS
                                            shall have and maintain, during performance of this Agreement, written agreements with all
                                            employees, contractors, or agents engaged by MS in performance hereunder, granting MS rights
                                            sufficient to support all performance of obligations and grants of rights by MS under this
                                            Agreement.

 

		(b)	Assignment
                                            of MS Intellectual Property by FF to MS.

 

		(i)	To
                                            effectuate the allocation of ownership of Intellectual Property Rights detailed in Section
                                            15.1, if and to the extent FF may, under Applicable Law, be entitled to claim any ownership
                                            interest in the MS Owned Foreground IPR (collectively and together with the MS Background
                                            IPR, the “MS Intellectual Property”), FF hereby transfers, grants, conveys,
                                            assigns, and relinquishes exclusively to MS all of FF’s right, title, and interest
                                            in and to such MS Intellectual Property, including all Intellectual Property Rights therein,
                                            in perpetuity or for the longest period otherwise permitted by law.

 

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		(ii)	FF
                                            shall disclose promptly to MS any MS Intellectual Property made, created or developed by
                                            FF during the Term, and FF shall, upon MS’s request, execute or have its employees,
                                            contractors or agents execute any and all applications, assignments and other documents to
                                            perfect and evidence MS’s ownership of the MS Intellectual Property and otherwise promptly
                                            assist MS in all of its reasonable efforts seeking to protect any and all Intellectual Property
                                            Rights in the MS Intellectual Property at MS’s expense, in any and all countries in
                                            the world.

 

		(iii)	Any
                                            creation of material constituting MS Intellectual Property, including the creation of any
                                            copyrightable subject matter, shall be considered “work made for hire” to the
                                            fullest extent permitted by Applicable Law, to be owned exclusively by MS.

 

		(iv)	To
                                            the extent that any such material, under Applicable Law, may not be considered works made
                                            for hire, FF hereby assigns to MS the ownership of copyright in such materials, without the
                                            necessity of any further consideration, and MS shall be entitled to obtain and hold in its
                                            own name all copyrights in respect of such materials.

 

		(v)	FF
                                            shall have and maintain, during performance of this Agreement, written agreements with all
                                            employees, contractors, or agents engaged by FF in performance hereunder, granting FF rights
                                            sufficient to support all performance of obligations and grants of rights by FF under this
                                            Agreement.

 

		15.3.	No
                                            Contest.

 

		(a)	Obligations
                                            of MS.

 

		(i)	MS
                                            shall not: (A) contest the validity of any of the FF Intellectual Property or any of FF’s
                                            registrations or applications pertaining to any of the FF Intellectual Property; (B) do or
                                            cause to be done any act or thing to intentionally impair FF’s right, title and interest
                                            in any of the FF Intellectual Property; (C) in any manner represent that it owns or has an
                                            ownership interest in any of the FF Intellectual Property; (D) register or allow any other
                                            party under its influence or control to register any Trademarks or other Intellectual Property
                                            Rights, or any rights closely resembling them, owned or used by FF in any jurisdiction; (E)
                                            use any word, symbol, or mark which is confusingly similar to any of the FF Trademarks (as
                                            determined by FF in its reasonable discretion); (F) perform or permit to be performed any
                                            act which might in any way impair the goodwill or other rights of FF in any of the FF Trademarks;
                                            or (G) use the FF Intellectual Property in any advertising, publicity, promotional material,
                                            press releases, sales material or as a reference without obtaining FF’s prior written
                                            approval of such use.

 

		(ii)	Sales,
                                            distribution or display of FF81 Products, or any products, samples or artwork bearing any
                                            Trademarks or other indicia of source, association, or sponsorship, in each case, without
                                            the prior written consent of FF are expressly prohibited except pursuant to this Agreement.

 

		(iii)	All
                                            FF81 Products shall bear such Trademarks and other intellectual property designations as
                                            specified by FF from time to time. MS shall take, and cause any other party under its influence
                                            or control to take, all reasonable steps, at FF’s cost, that FF may consider necessary
                                            to protect FF Intellectual Property.

 

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		(iv)	MS
                                            shall inform all MS Contract Suppliers and other third parties involved in the production
                                            of the FF81 Products of FF’s ownership of or rights in the FF Intellectual Property.

 

		(v)	Upon
                                            expiration or termination of this Agreement for any reason, MS shall take, and cause any
                                            other party under its influence or control to take, to the fullest extent reasonably possible,
                                            such steps as FF requests to cause FF to own all FF Intellectual Property and to terminate
                                            any rights MS may have to use any such FF Intellectual Property, including the making of
                                            further written assignments in a form determined by FF. All of such FF Intellectual Property,
                                            together with all associated goodwill, are and will remain the sole property of FF.

 

		(b)	Obligations
                                            of FF.

 

		(i)	FF
                                            shall not: (A) contest the validity of any of the MS Intellectual Property or any of MS’s
                                            registrations or applications pertaining to any of the MS Intellectual Property; (B) do or
                                            cause to be done any act or thing to intentionally impair MS’s right, title and interest
                                            in any of the MS Intellectual Property; (C) in any manner represent that it owns or has an
                                            ownership interest in any of the MS Intellectual Property; (D) register or allow any other
                                            party under its influence or control to register any Trademarks or other Intellectual Property
                                            Rights, or any rights closely resembling them, owned or used by MS in any jurisdiction; (E)
                                            use any word, symbol, or mark which is confusingly similar to any of the MS Trademarks (as
                                            determined by MS in its reasonable discretion); (F) perform or permit to be performed any
                                            act which might in any way impair the goodwill or other rights of MS in any of the MS Trademarks;
                                            or (G) use the MS Intellectual Property in any advertising, publicity, promotional material,
                                            press releases, sales material or as a reference or disclose the existence of the Agreement,
                                            or the terms hereof, without obtaining MS’s prior written approval of such use.

 

		(ii)	Sales,
                                            distribution or display of any products, samples or artwork bearing any l Trademarks or other
                                            indicia of source, association, or sponsorship, in each case, without the prior written consent
                                            of MS are expressly prohibited except pursuant to this Agreement. FF shall take, and cause
                                            any other party under its influence or control to take, all reasonable steps, at MS’s
                                            cost, which MS may consider necessary to protect MS Intellectual Property.

 

		(iii)	FF
                                            shall inform all FF Contract Suppliers and other third parties involved in the production
                                            of the FF Supplied Parts of MS’s ownership of or rights in the MS Intellectual Property.

 

		(iv)	Upon
                                            expiration or termination of this Agreement for any reason, FF shall take, and cause any
                                            other party under its influence or control to take, to the fullest extent reasonably possible,
                                            such steps as MS requests to cause MS to own all MS Intellectual Property and to terminate
                                            any rights FF may have to use any such MS Intellectual Property, including the making of
                                            further written assignments in a form determined by MS. All of such MS Intellectual Property,
                                            together with all associated goodwill, are and will remain the sole property of MS.

 

		15.4.	Licenses
                                            Granted.

 

		(a)	License
                                            by FF. FF hereby grants to MS:

 

		(i)	for
                                            the Term, a non-exclusive, fully paid and royalty free, sub-licensable (solely to MS’s
                                            Affiliates (as authorized hereunder), suppliers or the approved subcontractors), and non-transferrable
                                            license and right solely to manufacture or assemble the FF81 Product or FF81 Parts pursuant
                                            to this Agreement under the FF Background IPR, FF81 Improvements, FF Owned Improvements,
                                            and FF81 Foreground IPR; and

 

[***]

 

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		(b)	License
                                            by MS. MS hereby grants FF:

 

		(i)	a
                                            non-exclusive, fully paid and royalty free, irrevocable, worldwide, sublicensable (solely
                                            to FF’s Affiliates, service providers or subcontractors) and non-transferable (except
                                            to FF’s Affiliates) license and right solely to repair or service the FF81 Products
                                            or FF81 Parts supplied by MS to FF pursuant to this Agreement under the MS Background IPR
                                            and MS Owned Improvements; and

 

[***]

 

		(c)	Private
                                            Labeling.

 

		(i)	MS
                                            agrees to private label the FF81 Products and documentation with FF Trademarks designed by
                                            FF, all at no additional charge to FF (“Private Labeling”) as directed
                                            by FF from time to time. FF hereby grants to MS during the Term a limited, non-exclusive,
                                            non-transferable, royalty free, fully paid up, worldwide, non-sublicensable license to use
                                            such FF Trademarks solely for purposes of engaging in the Private Labeling in the Territory
                                            and such other purposes as may be pre-approved by FF in writing from time to time (the “Limited
                                            Trademark License”). MS shall strictly comply with FF’s directions, specifications
                                            and standards regarding the form and manner of the use of the FF Trademarks in connection
                                            with any Private Labeling hereunder.

 

		(ii)	All
                                            Private Labeling shall be submitted to FF for review in advance, and no FF Trademark shall
                                            be utilized in any Private Labeling without FF’s specific prior written consent to
                                            such use. Each item of documentation or other tangible material (with each copy thereof constituting
                                            a separate item) on which any registered FF Trademark appears shall contain a prominent legend
                                            stating that the FF Trademarks are registered trademarks of FF or FF’s Affiliates.
                                            The registered symbol “®” appearing each time as part of the FF Trademark
                                            will constitute a sufficient legend. No other trademark may be affixed to, or used in connection
                                            or combination with, any FF Trademark without FF’s prior written consent.

 

		(iii)	MS
                                            acknowledges that FF is, and shall at all times remain, the sole and exclusive owner of the
                                            FF Trademarks and all goodwill contained therein, and that neither the Limited Trademark
                                            License, nor any Private Labeling, shall convey any right, title, or interest in or to any
                                            of the FF Trademarks or such goodwill to MS. All goodwill arising from MS’s use of
                                            the FF Trademarks shall inure solely to the benefit of FF, and MS shall not assert any claim
                                            to any right, title, or interest in or to the FF Trademarks or the goodwill associated therewith,
                                            nor shall MS at any time take any action that could be detrimental to the goodwill associated
                                            with, or contest to seek to file protection for, any FF Trademark, either during the Term
                                            or after the termination or expiration of this Agreement. MS shall not take any action that
                                            in any way reduces or diminishes the reputation, image or prestige of the FF Trademarks.
                                            FF may revoke the Limited Trademark License as to any FF81 Product not then in production
                                            upon written notice to MS at any time with or without cause. Upon any such revocation, or
                                            any termination or expiration of this Agreement for any reason whatsoever, including any
                                            termination resulting from the material breach of either Party hereto, the Limited Trademark
                                            License shall automatically terminate, and MS shall immediately cease all further use of
                                            the FF Trademarks.

 

		(iv)	MS
                                            shall not, at any time prior to or following termination of this Agreement, sell to anyone
                                            but FF any Spare Parts or any items bearing an FF Trademark or trade name, or having a distinctive
                                            appearance or physical characteristic associated solely with the FF81 Products made by MS
                                            for FF. FF will indemnify MS if MS’s authorized use of the FF Trademarks for Private
                                            Labeling the FF81 Products pursuant to this Agreement infringes the trademark rights of any
                                            third party.

 

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		15.5.	Limitations;
                                            Reservation of Rights. Except as otherwise expressly set forth in this Agreement, the
                                            licenses granted by a Party to the other Party under this Agreement shall not limit the licensor
                                            Party’s right (and the licensor Party reserves its right) to use or license any Intellectual
                                            Property Rights owned or controlled by the licensor Party in any manner. Each Party reserves
                                            all rights not expressly granted or excluded in this Agreement.

 

		15.6.	Remedies.
                                            Nothing in this Agreement will be construed to bar a Party from protecting its rights to
                                            the exclusive ownership of Intellectual Property Rights owned by such Party against unfair
                                            competition, infringement or appropriation by any party or parties, including any use by
                                            the other Party not expressly authorized by this Agreement. Each Party acknowledges that
                                            the Intellectual Property Rights of the other Party possesses a special, unique and extraordinary
                                            character which makes it difficult to assess the monetary damage such other Party would sustain
                                            in the event of unauthorized use thereof. Each Party agrees and acknowledges that irreparable
                                            injury could be caused to the other Party by unauthorized use of Intellectual Property Rights
                                            of such other Party and that there could be no adequate remedy at law and that in the event
                                            of such unauthorized or threatened unauthorized use, a temporary restraining order or preliminary
                                            or permanent injunctive relief may be appropriate.

 

		15.7.	Identification.
                                            FF shall provide to MS all badges, labels, vehicle identification numbers, serial numbers,
                                            part numbers, numbers and identification required by the Department of Transportation and/or
                                            other instructions or information as required by Applicable Law or by FF, including applicable
                                            federal U.S. motor vehicle safety standards and other regulations issued by NHTSA (collectively,
                                            the “Vehicle Identification Labels”). MS shall affix each such Vehicle
                                            Identification Labels to each FF81 Product, as applicable. Where identification of the manufacturer
                                            is required or requested by FF, such labels, badges and tags shall identify FF as the manufacturer.
                                            The prices for the FF81 Products shall include the cost of all decals and serial number plates.
                                            All such Vehicle Identification Labels other than as provided by FF shall require FF’s
                                            review and prior approval.

 

		16.	TERM;
TERMINATION

 

		16.1.	Effective
                                            Date; Term; Renewal.

 

		(a)	Initial
                                            Term. This Agreement shall become effective as of February 4, 2022 (the “Effective
                                            Date”) and, unless earlier terminated by the Parties pursuant to the terms hereof,
                                            shall remain in full force and effect until the ninth (9th) year anniversary of
                                            the SOP Korea (the “Initial Term”).

 

		(b)	Renewal.
                                            If neither Party notifies the other Party in writing of its decision not to renew the term
                                            of this Agreement six (6) months prior to the expiration of the Initial Term (or any renewed
                                            term), this Agreement shall be automatically renewed for an additional one (1) year period
                                            upon the expiration of the Initial Term (or renewed term) without any further action on the
                                            part of the Parties (each of the Initial Term and renewed terms, collectively, the “Term”).

 

		16.2.	Termination
                                            for Cause.

 

		(a)	Mutual.
                                            In addition to any other termination rights set forth in this Agreement, a Party may terminate
                                            this Agreement by giving written notice (the “Termination Notice”) to
                                            the other Party with immediate effect if any one or more of the following events occurs:

 

		(i)	such
                                            other Party materially breaches, fails to perform or comply with, any of its obligations,
                                            terms and conditions hereunder, and such breach or failure is not cured within thirty (30)
                                            days after such other Party has received a written notice of breach from the terminating
                                            Party or, if such breach is not capable of being cured with such thirty (30) day period,
                                            such longer period as may be reasonable under the circumstances;

 

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		(ii)	such
                                            other Party (A) becomes insolvent or admits its inability to pay its debts generally as they
                                            become due; (B) becomes subject, voluntarily or involuntarily, to any proceeding under any
                                            domestic or foreign bankruptcy or insolvency Law; (C) is dissolved or liquidated or takes
                                            any corporate action for such purpose; (D) makes a general assignment for the benefit of
                                            creditors; or (E) has a receiver, trustee, custodian, or similar agent appointed by order
                                            of any court of competent jurisdiction to take charge of or sell any material portion of
                                            its property or business;

 

		(iii)	the
                                            sale of all or substantially all of the assets of such other Party to any third Person other
                                            than such other Party’s Affiliates without the prior written consent of the terminating
                                            Party, which consent shall not be unreasonably withheld;

 

		(iv)	there
                                            occurs any Change of Control on the part of MS without the prior written consent of FF, which
                                            consent shall not be unreasonably withheld;

 

		(v)	[***]

 

		(vi)	there
                                            occurs any other event that, pursuant to the express terms of this Agreement, permits such
                                            terminating Party to terminate this Agreement.

 

A
Party having the right to terminate this Agreement under this Section 16.2 shall be referred to herein as a “Terminating Party”
and the other Party as a “Non-Terminating Party”; each of the events, the occurrence of which shall give a Terminating
Party the right to terminate this Agreement, is referred to herein as a “Termination Event”.

 

		16.3.	Termination
                                            for Convenience. Either Party may terminate this Agreement without cause and without
                                            penalty or obligation to the other (except as expressly set forth herein) by giving Termination
                                            Notice to the other Party, (a) in the case of MS, not less than [***], and (b) in the case
                                            of FF, [***].

 

		16.4.	Consequences
                                            of Termination.

 

		(a)	Upon
                                            expiration or termination of this Agreement for any reason, at FF’s option (to be made,
                                            if at all, no later than [***] after such expiration or termination), MS shall complete all
                                            Product Purchase Orders submitted to MS by FF prior to the effective date of termination
                                            and with respect to which MS does not have a right to reject (“Open Orders”)
                                            and FF shall pay for such Open Orders and complete all outstanding Parts Purchase Orders
                                            and Special Parts Orders, each in accordance with this Agreement. If the termination giving
                                            rise to the option described above is by MS pursuant to Section 16.2 or by FF pursuant to
                                            Section 16.3 and FF does not elect that MS complete the Open Orders, then FF shall be liable
                                            to MS to the same extent as though FF had cancelled such Open Orders under the terms of this
                                            Agreement and each Parts Purchase Order and Special Parts Order shall be deemed cancelled
                                            without liability to MS. If the termination giving rise to the option described above is
                                            by MS pursuant to Section 16.2 or by FF pursuant to Section 16.3, then, as a condition to
                                            MS’s obligations to perform hereunder in respect to any Open Orders, (i) FF shall have
                                            issued to MS an irrevocable documentary letter of credit in favor of MS as the beneficiary
                                            and in form and substance acceptable to MS and in an aggregate amount to cover all such Open
                                            Orders and (ii) there shall be no amounts that are past due by FF to MS hereunder.

 

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		(b)	For
                                            up to [***] following the effective date of the expiration or termination of this Agreement
                                            for any reason (except such period shall only be for one (1) year following termination in
                                            the case of termination by MS pursuant to Section 16.2 or FF pursuant to Section 16.3) (“Transition
                                            Period”), FF shall have the right to purchase the FF81 Products from MS pursuant
                                            to the terms of this Agreement, in which event MS shall have the right to purchase FF Supplied
                                            Parts from FF pursuant to this Agreement in order to supply such FF81 Products. If the termination
                                            giving rise to such right of purchase is by MS, then as a condition to MS’s obligation
                                            to accept or perform hereunder in respect to any Product Purchase Order placed during the
                                            Transition Period, (i) FF shall issue to MS one or more irrevocable documentary letters of
                                            credit in favor of MS as the beneficiary and in form and substance acceptable to MS and in
                                            an aggregate amount to cover all outstanding Product Purchase Orders during the Transition
                                            Period and (ii) there shall be no amounts that are past due by FF to MS hereunder.

 

		(c)	MS
                                            shall maintain, at its own expense, sufficient capability to fulfill Open Orders and Product
                                            Purchase Orders which may be placed during the Transition Period on the same terms as generally
                                            applicable to the supply of FF81 Products immediately prior to the expiration or termination
                                            of this Agreement.

 

		16.5.	Survival.
                                            Expiration or termination of this Agreement for any reason shall not affect any liabilities
                                            or obligations of either Party that have accrued at the date of expiration or termination
                                            or which by their nature survive expiration or termination.

 

		16.6.	Transition
                                            of FF81 Products Following Termination or Expiration. Subject to Section 15 (Intellectual
                                            Property) and 18 (Confidentiality; Non-Disclosure), following expiration or termination of
                                            this Agreement by either Party for any reason and notwithstanding any claimed or actual breach
                                            of any obligation by FF, MS, at FF’s cost, shall reasonably cooperate in the transition
                                            of supply to a successor supplier (the “Transition Support”). Notwithstanding
                                            the foregoing, in no event shall MS be required to disclose any confidential or proprietary
                                            information of MS or otherwise share with FF or any such third party successor supplier designated
                                            by FF any MS Intellectual Property except as expressly agreed to by MS in this Agreement.

 

		17.	INDEMNIFICATIONS

 

		17.1.	Indemnification.

 

		(a)	Indemnification
                                            by MS for Third Party Claims.

 

		(i)	In
                                            addition to the indemnification obligations of MS elsewhere, and except as set forth otherwise,
                                            in this Agreement, MS shall indemnify, defend and hold harmless FF, its Affiliates, and their
                                            respective directors, officers, customers, other suppliers, distributors, agents, and employees
                                            (each, a “FF Indemnitee”) from and against any and all third party claims,
                                            demands, investigations, suits, or causes of action (each, a “Third Party Claim”)
                                            asserted against any of them alleging losses, liabilities, damages, including incidental,
                                            special, consequential, indirect and exemplary damages, fines, penalties, costs and expenses,
                                            injunctions or other non-monetary relief (collectively, the “Losses”)
                                            arising from or relating to:

 

		(A)	breach
                                            by MS of the representations, warranties or other terms of this Agreement;

 

		(B)	actual
                                            or alleged infringement or misappropriation of any Intellectual Property Right of any third
                                            party to the extent arising out of or in connection with (i) the MS Supplied Parts (other
                                            than due solely to compliance with any Basic Specifications provided by FF) or (ii) the practice
                                            or use of any MS Intellectual Property pursuant to this Agreement (other than any such MS
                                            Intellectual Property solely developed by FF);

 

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		(C)	FF’s
                                            access to MS’s IT system, including data breach by FF as a result of its exercise of
                                            its rights under Section 6.9(f); or

 

		(D)	any
                                            personal injury (including death) or property damages to the extent caused by a MS Manufacturing
                                            Defect.

 

		(b)	Indemnification
                                            by FF for Third Party Claims.

 

		(i)	Except
                                            as set forth otherwise in this Agreement, FF shall indemnify, defend and hold harmless MS,
                                            its Affiliates, and their respective directors, officers, customers, other suppliers, distributors,
                                            agents, and employees (each, a “MS Indemnitee”) from and against any and
                                            all Third Party Claims asserted against any of them to the extent alleging any Losses arising
                                            from or relating to:

 

		(A)	breach
                                            by FF of the representations, warranties or other terms of this Agreement;

 

		(B)	actual
                                            or alleged infringement or misappropriation of any Intellectual Property Right of any third
                                            party to the extent arising out of or in connection with (i) the FF Supplied Parts (other
                                            than due solely to compliance with any Basic Specifications provided by MS) or (ii) the practice
                                            or use of any FF Intellectual Property pursuant to this Agreement (other than any such FF
                                            Intellectual Property solely developed by MS);

 

		(C)	failure
                                            of FF to obtain or maintain any Approvals necessary to sell and distribute the FF81 Products
                                            in each FF Sales Territory or to comply with Applicable Law relating to the sale and distribution
                                            of FF81 Products in the FF Sales Territory; and

 

		(D)	any
                                            Design & Engineering Defect, including personal injury (including death) or property
                                            damages to the extent caused by any Design & Engineering Defect, or personal injury (including
                                            death) or property damages to the extent caused by any FF Manufacturing Defect.

 

		17.2.	Indemnity
                                            Procedures.

 

		(a)	In
                                            the event of an indemnifiable claim hereunder, a Party seeking indemnification hereunder
                                            (the “Indemnified Party”) against the other Party (the “Indemnifying
                                            Party”) involved in such Third Party Claim must notify the Indemnifying Party hereunder
                                            in writing of the existence of such Third Party Claim and must deliver copies of any documents
                                            served on such Indemnified Party with respect to such Third Party Claim; provided,
                                            however, that any failure to notify the Indemnifying Party or deliver such copies
                                            shall not relieve the Indemnifying Party from any obligation hereunder unless (and then solely
                                            to the extent that) the Indemnifying Party is materially prejudiced by such failure.

 

		(b)	The
                                            Indemnifying Party shall have the right to conduct and control, through counsel of its own
                                            choosing, reasonably acceptable to such Indemnified Party, any Third Party Claim; provided,
                                            however, that (i) if requested by such Indemnified Party, the Indemnifying Party shall
                                            provide such Indemnified Party with evidence reasonably acceptable to such Indemnified Party
                                            that the Indemnifying Party shall have the financial resources to defend against such Third
                                            Party Claim and fulfill its indemnification obligations hereunder, (ii) such Indemnified
                                            Party may, at its election, participate in the defense thereof at its sole cost and expense
                                            and (iii) if (A) the Indemnifying Party shall fail to defend such Third Party Claim, (B)
                                            in the reasonable opinion of legal counsel for such Indemnified Party, such Third Party Claim
                                            involves the potential imposition of criminal liability on such Indemnified Party, or (C)
                                            in the reasonable opinion of legal counsel for such Indemnified Party, an actual or potential
                                            conflict of interest exists where it is advisable for such Indemnified Party to be represented
                                            by separate counsel, then such Indemnified Party shall be entitled to control and assume
                                            responsibility for the defense of such Third Party Claim, at the cost and expense of the
                                            Indemnifying Party. The Indemnifying Party may, in any event, participate in such proceedings
                                            at its own cost and expense. If the Indemnified Party agrees to forego any indemnity claimed
                                            under this Section 17.2 in respect to any Third Party Claim, the Indemnifying Party may,
                                            at its election, conduct and control the defense against such Third Party Claim at its sole
                                            cost and expense.

 

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		(c)	The
                                            Indemnifying Party, in the defense of any such litigation, other proceeding or other claim,
                                            shall have the right in its sole discretion to compromise or settle such Third Party Claim
                                            only if (i) such compromise or settlement involves only the payment of money and execution
                                            of appropriate releases of such Indemnified Party, (ii) there is no finding or admission
                                            of any liability or fault of the Indemnified Party or any violation of Applicable Law and
                                            (iii) such Indemnified Party shall have no liability with respect to such compromise or settlement.
                                            Otherwise, no such Third Party Claim shall be settled or agreed to without the prior written
                                            consent of such Indemnified Party, which consent shall not be unreasonably withheld. Such
                                            Indemnified Party and the Indemnifying Party shall fully cooperate in good faith in connection
                                            with such defense and shall cause their legal counsel, accountants and Affiliates to do so,
                                            and shall make available to the other Party all relevant books, records, and information
                                            (in such Party’s control) during normal business hours, and shall furnish to each other
                                            such other assistance as the other Party may reasonably require in connection with such defense,
                                            including making its employees available to testify and assist others in testifying in any
                                            such proceedings.

 

		(d)	The
                                            procedures in this Section 17.2 also apply equally to all indemnity obligations set forth
                                            in this Agreement outside Section 17.1.

 

		17.3.	Obligations
                                            Remain Continuously in Force. The obligations imposed by this Section 17 shall remain
                                            in force continuously, notwithstanding the termination of this Agreement, and shall bind
                                            any successors or assigns of the Parties.

 

		18.	CONFIDENTIALITY;
NON-DISCLOSURE

 

		18.1.	Definition.
                                            As used in this Agreement, “Confidential Information” means any non-public
                                            information disclosed by either Party (the “Disclosing Party”) to the
                                            other Party (the “Receiving Party”), in writing, orally, or by inspection
                                            of tangible objects (including information relating to such Party’s research, development,
                                            and current or prospective product or service offerings) and that is designated as “Confidential,”
                                            “Proprietary” or some similar designation, or whose confidential or proprietary
                                            nature is or should be reasonably apparent from the perspective of the Receiving Party under
                                            the circumstances.

 

		18.2.	Confidentiality
                                            and Non-Use.

 

		(a)	The
                                            Receiving Party shall treat as confidential all Confidential Information of the Disclosing
                                            Party, shall not use such Confidential Information except to exercise its rights and perform
                                            its obligations under this Agreement.

 

		(b)	The
                                            Receiving Party shall not disclose Confidential Information of the Disclosing Party, except:

 

		(i)	to
                                            the directors, officers and employees of the Receiving Party who are reasonably required
                                            to access or use the Confidential Information on the Receiving Party’s behalf in order
                                            for the Receiving Party to exercise its rights and perform its obligations in accordance
                                            with this Agreement; or

 

		(ii)	to
                                            third Persons who are permitted to access or use such Confidential Information pursuant to
                                            this Agreement and provided that such Persons are: (A) bound by professional duties of confidentiality
                                            not to disclose such Confidential Information or (B) such Person agrees in writing to abide
                                            by restrictions on confidentiality and non-use materially as protective as those set forth
                                            herein; or

 

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		(iii)	pursuant
                                            to, and as required by, Applicable Law or a Governmental Authority or as otherwise necessary
                                            to complete regulatory filings in furtherance of the Receiving Party’s performance
                                            of its obligations, in each such case in compliance with Section 18.3(b); or

 

		(iv)	[***]

 

		(v)	with
                                            the prior written consent of the Disclosing Party.

 

		(c)	Without
                                            limiting the foregoing, the Receiving Party shall use at least the same degree of care it
                                            uses to prevent the disclosure of its own Confidential Information of like importance, which
                                            care shall be no less than reasonable care, to prevent the disclosure of Confidential Information
                                            of the Disclosing Party.

 

		(d)	The
                                            Receiving Party shall (i) promptly notify the Disclosing Party of any breach of these confidentiality
                                            provisions, including the actual or suspected misuse or unauthorized disclosure of Confidential
                                            Information of the Disclosing Party by any Person to whom the Receiving Party has disclosed
                                            Confidential Information of the Disclosing Party, and (ii) cooperate with the Disclosing
                                            Party in its efforts to remedy any such misuse or unauthorized disclosure. In addition to
                                            any other remedy to which the Disclosing Party may be entitled, the Disclosing Party shall
                                            be entitled to institute and prosecute proceedings in a court of competent jurisdiction to
                                            obtain temporary and/or permanent injunctive or other equitable relief to enforce any provision
                                            of this Section 18 without the necessity of posting bond or proof of action injury or damage.

 

		18.3.	Exceptions.

 

		(a)	The
                                            provisions of this Section 18 shall not apply to any information that:

 

		(i)	is
                                            or becomes generally known to the public through legal means and other than as a result of
                                            disclosure by the Receiving Party in violation of the terms of this Agreement;

 

		(ii)	is
                                            in the possession of the Receiving Party at the time of disclosure by the Disclosing Party,
                                            as reasonably evidenced by a prior or contemporaneous writing and not otherwise restricted
                                            by contract or Law;

 

		(iii)	becomes
                                            known to the Receiving Party on a non-confidential basis through disclosure by sources other
                                            than the Disclosing Party having the legal right to disclose such information; and

 

		(iv)	is
                                            independently developed by the Receiving Party without reference to the Disclosing Party’s
                                            Confidential Information.

 

		(b)	If
                                            the Receiving Party is required to disclose Confidential Information pursuant to an order
                                            of a Governmental Authority or pursuant to Applicable Law, the Receiving Party shall first
                                            use reasonable efforts to provide the Disclosing Party with sufficient advance notice to
                                            permit the Disclosing Party to seek a protective order or otherwise restrict the disclosure
                                            of such Confidential Information.

 

		18.4.	Term.
                                            The confidentiality obligations of the Parties expire upon [***], except that obligations
                                            with respect to trade secrets shall continue for so long as such information remains a trade
                                            secret under Applicable Law through no fault of the Receiving Party.

 

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		18.5.	Confidentiality
                                            of Agreement. The terms and conditions of this Agreement, but not its existence, shall
                                            be treated as Confidential Information of each Party. The terms of this Section 18 shall
                                            apply in addition to any other confidentiality agreement between the Parties.

 

		18.6.	Return
                                            or Destruction. Following the termination of this Agreement and written request by either
                                            Party, the Receiving Party will use commercially reasonable efforts to return or destroy
                                            any print or electronic records of the Disclosing Party’s Confidential Information
                                            in its custody or control, except that the Receiving Party may retain the Disclosing Party’s
                                            Confidential Information to the extent that it is: (a) required by Applicable Law; (b) required
                                            by a Governmental Authority; or (c) necessary to comply with the internal document retention
                                            policies of the Receiving Party that are designed to adhere to the relevant Laws to which
                                            the Receiving Party is subject.

 

		19.	FORCE
MAJEURE; EXCUSABLE DELAY

 

		19.1.	Force
                                            Majeure Event. Neither Party shall be liable for any delays in the performance of its
                                            obligations under this Agreement as a direct or indirect result of any circumstance or event
                                            beyond its reasonable control (each, a “Force Majeure Event”), including
                                            each of the following:

 

		(a)	acts
                                            of God, war, riots, floods, tornadoes, earthquakes, pandemics, epidemics, public health crises,
                                            typhoons and hurricanes;

 

		(b)	acts
                                            of terrorism;

 

		(c)	explosions
                                            or fires;

 

		(d)	strikes,
                                            lockouts, or other labor disputes, but excluding strikes, lockouts or labor disputes involving
                                            employees of such Party; and

 

		(e)	acts
                                            by any Governmental Authority, including changes in Applicable Law.

 

		19.2.	Excusable
                                            Delay. Neither Party shall be liable for any delays in the performance of its obligations
                                            under this Agreement to the extent [***] (each, an “Excusable Delay”).
                                            For purposes hereof, no delay shall constitute an Excusable Delay until after the passage
                                            of any applicable time period for performance as set forth in this Agreement.

 

		19.3.	Conditions.
                                            A Party shall not be entitled to rely on any such circumstance or event as a Force Majeure
                                            Event or Excusable Delay if such circumstance or event is attributable to an improper act,
                                            delay or omission of, including a breach of this Agreement by, such Party or its Affiliates.
                                            For the avoidance of doubt, “Force Majeure Event” shall not include changes in
                                            general economic conditions such as inflation, interest rates or other factors of general
                                            application or economic hardship.

 

		19.4.	Notice.
                                            If a Party is or will be reasonably prevented from performing its obligations under this
                                            Agreement by a Force Majeure Event or Excusable Delay, then it shall notify the other Party
                                            of the obligations, the performance of which is or will be prevented, and the nature and
                                            cause of the event in writing promptly, and in any event within five (5) Business Days after
                                            the notifying Party becomes aware of the impact that such Force Majeure Event or Excusable
                                            Delay would have on its obligations hereunder.

 

		19.5.	Actions
                                            During Force Majeure Event or Excusable Delay. The Party affected by a Force Majeure
                                            Event or Excusable Delay shall use commercially reasonable efforts to mitigate the effect
                                            of such Force Majeure Event or Excusable Delay and shall provide the other Party with weekly
                                            updates (a) estimating its expected duration, the cost of any remedial action, and the probable
                                            impact on the performance of its obligations hereunder, (b) of the actions taken to remove
                                            or overcome the effect on its performance hereunder of such Force Majeure Event or Excusable
                                            Delay and (c) of the efforts taken to mitigate or limit damages to the other Party. The Party
                                            affected by an Force Majeure Event or Excusable Delay shall also provide prompt written notice
                                            to the other Party when it ceases to be so affected and shall proceed continuously and diligently
                                            with the performance of its obligations hereunder that are not so affected. The date of performance
                                            by the affected Party shall be automatically extended solely for the period of time directly
                                            and actually delayed by Force Majeure Event or Excusable Delay, but not longer than the length
                                            of such Force Majeure Event or Excusable Delay.

 

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		20.	COMPLIANCE
OBLIGATIONS; DATA AND INFORMATION

 

		20.1.	Compliance
                                            Matters.

 

		(a)	Child
                                            Labor; Working Conditions. Each of FF and MS covenants that it shall not make use of
                                            any child labor or prison labor and shall provide adequate working conditions to reasonably
                                            provide for the health and safety of its employees.

 

		(b)	Sustainability.
                                            MS shall cooperate, and shall use all commercially reasonable efforts to cause all MS Contract
                                            Suppliers to cooperate, with FF as may be reasonably requested by FF to support FF’s
                                            environmental and sustainability initiatives, provided that MS shall not obligated to undertake
                                            any such initiative without agreement between the Parties regarding how the costs thereof
                                            shall be borne unless otherwise required by Applicable Law.

 

		(c)	Country
                                            of Manufacture. For each FF81 Product (but excluding any FF Supplied Parts), MS shall,
                                            at all times during the Term, maintain full traceability records regarding the country of
                                            origin (manufacture), by production lot, quantity and part number and any required number(s)
                                            or designation(s) required by Applicable Law. FF covenants that its shall not require MS
                                            to package or ship any FF81 Products for the purpose of mislabeling, evading quota or country
                                            of origin restriction. MS shall provide to FF an annual certificate of origin for all FF81
                                            Products (but excluding any FF Supplied Parts) sold to FF in the applicable year. The certificate
                                            must display (in electronic spreadsheet format) the following for each part number sold:

 

		●	FF’s
                                            designated part number and VIN number

 

		●	Description
                                            of Part (clearly identifiable to a third party)

 

		●	Country
                                            of Origin (place of manufacture, not just place of shipping).

 

		(d)	Hazardous
                                            Substances. FF guarantees that, if the FF81 Products are manufactured in accordance with
                                            the Basic Specification, none of such FF81 Products at the time of delivery by MS to FF in
                                            accordance with this Agreement shall contain any Hazardous Substances or any Hazardous Substance
                                            containing components. For purposes of this Section 20.1(d), the term “Hazardous
                                            Substances” means any (i) pollutants, (ii) contaminants, (iii) pesticides, (iv)
                                            solid, special or toxic wastes, (v) asbestos containing materials, (vi) mold, (vii) lead-based
                                            paint, (viii) solid, liquid, gas or electromagnetic radiation, (x) hazardous, extremely hazardous,
                                            toxic, infectious or radioactive substances, chemicals, materials or wastes defined in or
                                            listed as such in, or regulated, limited or prohibited under, any environmental law, including
                                            asbestos, polychlorinated biphenyls and substances prohibited by Proposition 65 in California.

 

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		(e)	Conflicts
                                            Minerals Compliance. For purposes of this Section 20.1(e), the term “Conflict
                                            Minerals” means the materials defined in or listed as such in Section 1502 of the
                                            Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, as it may be amended from
                                            time to time and any regulations, rules, decisions or orders relating thereto adopted by
                                            the Securities and Exchange Commission or any successor governmental agency responsible for
                                            adopting regulations relating thereto (collectively, “Dodd-Frank”) (including
                                            tin, tantalum, tungsten and gold) and any related derivatives, and any other mineral or derivatives
                                            that may later be determined by the Secretary of State to be financing conflict in the Democratic
                                            Republic of the Congo or an adjoining country. In order to enable FF to comply with Dodd-Frank
                                            with respect to FF81 Products manufactured for FF by MS pursuant to this Agreement (but excluding
                                            any FF Supplied Parts), MS shall take the following actions:

 

		(i)	Comply
                                            with all Applicable Laws related to Conflict Minerals, including Dodd-Frank;

 

		(ii)	Promptly
                                            designate an internal resource to handle all activities related to Conflict Minerals compliance
                                            and serve as a single point of contact to the FF’s representatives;

 

		(iii)	Provide
                                            an annual certification of compliance with FF’s Conflict Minerals policy, and, if there
                                            are any changes to MS’s supply base that affect such certification, provide an amended
                                            certification of compliance;

 

		(iv)	Provide
                                            an annual declaration of all FF81 Products containing Conflict Minerals that were supplied
                                            to FF during the relevant calendar year. The declaration must include the following information:

 

		●	The
                                            FF81 Products containing Conflict Minerals;

 

		●	The
                                            Conflict Minerals contained in such FF81 Products;

 

		●	Whether
                                            the origin of the material was from recycled or scrap sources. For the purposes of this Section
                                            20.1(e), the terms “Recycled Metals” mean metals that are reclaimed end-user
                                            or post-consumer products, or scrap processed metals created during product manufacturing.
                                            Recycled Metals include excess, obsolete, defective, and scrap metal materials which contain
                                            refined or processed metals that are appropriate to recycle in the production of tin, tantalum,
                                            tungsten and/or gold. Minerals partially processed, unprocessed or a byproduct from another
                                            ore are not Recycled Metals;

 

		●	For
                                            all FF81 Products not identified as Recycled Metals, the sources, including smelter and/or
                                            mine, of all Conflict Minerals contained in such FF81 Products and evidence of inquiry regarding
                                            the country of origin, using the EICC – GeSI Conflict Minerals Reporting Template or
                                            similar template provided by FF;

 

		●	A
                                            description of MS’s Conflict Minerals due diligence activities, which, at a minimum,
                                            must include an explanation of MS’s due diligence efforts to identify smelters and/or
                                            mines in the supply chain; and

 

		●	Any
                                            documentation reasonably requested by FF to support any of the statements made in the declaration
                                            as required above;

 

		(v)	If
                                            MS is not able to provide any information required in the declaration described in Section
                                            20.1(e)(iii), cooperate with FF so that such information can be accurately determined and
                                            reported; and

 

		(vi)	Provide
                                            such further cooperation as FF may reasonably require in order to meet any obligations it
                                            may have under Dodd-Frank.

 

		(f)	Anti-Corruption.
                                            FF and MS intend that no payments or transfers of value shall be made which have the purpose
                                            or effect of public or commercial bribery, acceptance of or acquiescence in extortion or
                                            kickbacks, or other unlawful or improper means of obtaining business. MS shall at all times
                                            conduct its activities hereunder in accordance with all Applicable Law related to anti-bribery
                                            or anti-corruption legislation, including the U.S. Foreign Corrupt Practices Act of 1977
                                            and all national, state, provincial or territorial anti-bribery and anti-corruption statutes.
                                            Accordingly, in connection with its performance under this Agreement, MS shall make no offer,
                                            payment or gift, will not promise to pay or give, and will not authorize the promise or payment
                                            of, directly or indirectly, any money or anything of value to any FF employee or agent, any
                                            government official, any political party or its officials, or any person while knowing or
                                            having reason to know that all or a portion of such money or item of value will be offered,
                                            given or promised for the purpose of influencing any decision or act to assist MS or FF or
                                            otherwise obtaining any improper advantage or benefit. MS will take appropriate actions to
                                            ensure that any person representing or acting under its instruction or control (“MS’s
                                            Agents”) will also comply with this Section.

 

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		(g)	Import/Export
                                            Control, Economic Sanctions and Anti-Boycott Compliance.

 

		(i)	Neither
                                            MS, nor any affiliate, owner, officer or director of MS, nor, to the knowledge of MS, any
                                            agent, consultant or other third party representative of MS, acting in its capacity as such
                                            and used in the performance of this Agreement, is a person, or owned or controlled by a person,
                                            that is or was (i) identified on any U.S. Restricted Person List1 or any other
                                            comparable list of persons subject to trade restrictions and/or sanctions imposed or administered
                                            by any Governmental Authority in any jurisdiction in which MS operates; or, (ii) in the case
                                            of MS, or any Affiliate, owner, officer, or director of MS, (A) organized, incorporated,
                                            established, located in, or a citizen, national, or resident of, Cuba, Iran, North Korea,
                                            or Syria; or (B) a Governmental Authority, or an instrumentality thereof, of any country
                                            listed in (ii)(A), above.

 

		(ii)	MS,
                                            any officer, director or MS, and any agent, consultant or other third party representative
                                            of MS, acting in its capacity as such, shall at all times conduct their activities in accordance
                                            with all Applicable Law relating the exportation of the FF81 Products from the Republic of
                                            Korea and importation of the FF81 Product by FF into the United States or Canada, including
                                            any U.S. Trade Laws2 and acknowledges and agrees to FF’s position of no
                                            transactions with Cuba, Iran, North Korea, or Syria in connection with performance under
                                            this Agreement (“FF’s Position”), and confirms that MS will comply
                                            with FF’s Position on all transactions.

 

		(iii)	MS
                                            shall promptly notify FF in the event MS receives written notice from any Governmental Authority
                                            alleging MS’s failure to comply with any export or import requirements in respect to
                                            the FF81 Parts or FF81 Products.

 

 

1 The
term “U.S. Restricted Person List” means: (i) the list of Specially Designated Nationals and Blocked Persons maintained
by the Office of Foreign Assets Control, U.S. Department of the Treasury (“OFAC”); (ii) the Denied Persons and Entity
lists maintained by the Bureau of Industry and Security, U.S. Department of Commerce under the Export Administration Regulations;
(iii) the Debarred list maintained by the U.S. Department of State; and (iv) persons identified by the U.S. Department of State as
subject to sanctions by the U.S. Government for engaging in activities relating to proliferation or Iran.

 

2 The
term “U.S. Trade Laws” means, collectively, each and any U.S. legal requirement, order or permit imposing restrictions,
requirements, conditions or sanctions in connection with import, export or other international trade-related activities, including as
applicable, the Tariff Act of 1930, as amended, and other legal requirements and programs administered or enforced by U.S. Customs and
Border Protection and U.S. Immigration and Customs Enforcement, and their predecessor agencies, such as the U.S. Customs Regulations
(Title 19, Code of Federal Regulations), the Export Administration Act of 1979, as amended, the Export Administration Regulations, 15
C.F.R. Part 730 et seq., the International Emergency Economic Powers Act, as amended, the Trading with the Enemy Act, as amended,
the statutes, regulations, and Executive Orders, administered by OFAC (including 31 C.F.R. Part 500 et seq.), the Arms Export
Control Act, as amended, the International Traffic in Arms Regulations, administered by the U.S. Department of State, Directorate of
Defense Trade Controls (22 C.F.R. Part 120 et seq)., the statutes and Executive Orders authorizing sanctions for trade relating
to specified activities, such as proliferation, or countries, such as Iran, including as administered by the U.S. Department of State,
and the anti-boycott regulations administered by the U.S. Department of Commerce and the U.S. Department of the Treasury.

 

 

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		(h)	No
                                            Conflicts. [***]

 

		(i)	Accurate
                                            Books and Records; Audit. In connection with its performance under this Agreement, MS
                                            will maintain complete and accurate books and records in accordance with generally accepted
                                            accounting principles in its jurisdiction, consistently applied, properly and accurately
                                            recording all payments made by it or its agents in performance of this Agreement or related
                                            to it. MS will maintain a system of internal accounting controls reasonably designed to ensure
                                            that it maintains no off-the-book accounts and that its assets are used only in accordance
                                            with its management directives. All books and records relating to MS’s performance
                                            under this Agreement shall be available for inspection, copying, and audit by an independent
                                            third party mutually acceptable to the Parties (such agreement not to be unreasonably withheld)
                                            during its normal business hours on reasonable notice throughout the Term and for three (3)
                                            years thereafter for the purpose of verifying the MS’s compliance with the terms hereof.
                                            If FF at any time reasonably believes, in good faith, that MS has breached the warranties,
                                            representations or agreements in this Section, then it will have the right to engage an independent
                                            third party mutually acceptable to the Parties to audit MS’s books and records related
                                            to this Agreement in order to verify its compliance with the provisions of this Section.
                                            MS will cooperate in any such reasonable audit requested by FF. FF will give MS reasonable
                                            advance written notice of such audit, the audit will be conducted during reasonable working
                                            hours on regular work days, shall not unreasonably interfere with MS’s ongoing operations
                                            and shall agree to maintain the confidentiality required by Section 18, and to require its
                                            third party auditors to agree to comparable terms. FF shall bear and pay for the cost of
                                            any such audit unless such audit discloses errors in excess of five percent (5%) in favor
                                            of FF, in which case the cost of the audit shall be borne by MS.

 

		(j)	Notification.
                                            MS will notify FF promptly if (a) MS has reason to believe that a breach of this Section
                                            has occurred or is likely to occur; or (b) if any conflicts of interest arise after the signing
                                            of this Agreement, including if MS becomes aware that any of MS’s Agents or their family
                                            members become a government official or political party candidate in a position to influence
                                            MS’s commercial relationship with FF. MS will send all such notices to FF in writing
                                            and to such other person or location as FF may designate in writing.

 

		(k)	Compliance
                                            Certification. MS will, when and as may be requested by FF from time to time, provide
                                            to FF a written certification in form and substance reasonably satisfactory to FF that MS
                                            is in compliance with this Section.

 

		(l)	No
                                            Payments for Improper Activities. FF will not be required under any circumstances to
                                            take any action or make any payments that would cause it or its Affiliates to be in violation
                                            of any Applicable Law, including anti-corruption laws, as a result of any breach of this
                                            Agreement by MS.

 

		(m)	Customs.
                                            Transferable credits or benefits associated with FF81 Products purchased, including trade
                                            credits, export credits, or rights to the refund of duties, taxes, or fees, belong to FF
                                            unless otherwise prohibited by Applicable Law. At FF’s expense, MS will provide FF
                                            with all information and records relating to the FF81 Products and within the control of
                                            MS necessary for FF to (a) receive these benefits, credits, and rights, (b) fulfill any customs
                                            obligations, origin marking or labeling requirements, and certification or local content
                                            reporting requirements, (c) claim preferential duty treatment under applicable trade preference
                                            regimes, and (d) participate in any duty deferral or free trade zone programs of the country
                                            of import.

 

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		20.2.	Data
                                            and Information.

 

		(a)	Supplied
                                            Data. MS will provide FF with all engineering, package and installation drawings, specifications,
                                            testing protocols and results, documents, data (including metadata and digital data), geometric
                                            and functional attributes, information related to MS’s production, delivery, logistics,
                                            quality, volume or similar business information regarding the FF81 Products and other information
                                            relating to the FF81 Products, including detailed design and manufacturing information such
                                            as failure mode and effects analyses (FMEA, including design failure mode and effects analysis
                                            (DFMEA) and process failure mode and effects analysis (PFMEA)), design verification plans
                                            and reports (DVP&R, including test specifications, test reports and test data), p-diagrams
                                            and control plans related to the FF81 Products (collectively, “Supplied Data”)
                                            as and when reasonably requested by FF. Subject to the last sentence of this subsection (a),
                                            FF may use the Supplied Data for any purpose in connection with the FF81 Products. FF will
                                            keep Supplied Data separate from any other FF data assets. The formatting and specifications
                                            of all Supplied Data provided to FF by MS shall be as reasonably specified by FF or as otherwise
                                            agreed upon by the Parties. Supplied Data will be subject to the confidentiality restrictions
                                            set out in Section 18 above.

 

		(b)	Governmental
                                            Reporting. MS will promptly notify MS if it has provided information to a Governmental
                                            Authority regarding the FF81 Products (e.g. in the U.S. following reporting requirements
                                            of U.S. law: 49 CFR Part 573 Defect and Noncompliance Reporting and 49 CFR Part 579 Reporting
                                            of Information and Communications About Potential Defects.). This notification will include
                                            the following information: the date the notification was provided to a Governmental Authority,
                                            the affected FF81 Products (or components thereof, as applicable), and the report type (e.g.,
                                            for reporting to the U.S. government, an Early Warning Report or Noncompliance Report). Upon
                                            the reasonable request of FF and to the extent permitted by Applicable Law, MS will provide
                                            FF with access to and copies of any data, materials, or information provided to a Governmental
                                            Authority relating to the FF81 Products, any component or part of the FF81 Products, or any
                                            materials or substances used in the FF81 Products or in connection with their production,
                                            including any test, manufacturing, field performance, or warranty data. MS will provide the
                                            information within 10 Business Days after receipt of FF’s reasonable request. Disclosure
                                            of any such information will be subject to the restrictions set forth in Section 18, including
                                            the notice requirements of Section 18.3, if any such information is Confidential Information.
                                            Each party agrees to use its commercially reasonable efforts to minimize the disclosure of
                                            Confidential Information under this Section 20.2(b).

 

		(c)	Sustainability
                                            Data. Upon the reasonable request of FF, MS will provide it with access to and copies
                                            of any data, materials, or other information, including any formulas or analyses, that: (i)
                                            relates to the FF81 Products, their composition, any component or part of the FF81 Products,
                                            or any materials or substances used in the FF81 Products or in connection with their production;
                                            and (ii) is needed, as reasonably determined by the requestor, to enable compliance with
                                            any requirement of a Governmental Authority (either mandated or voluntarily agreed upon by
                                            FF or any of its Affiliates) relating to the hazardous, toxic, or other content or nature
                                            of the FF81 Products, or the ability to recycle the FF81 Products or any component, part,
                                            or materials in the FF81 Products. Disclosure of any such information will be subject to
                                            the restrictions set forth in Section 18, including the notice requirements of Section 18.2(d)
                                            and Section 18.3(b), if any such information is Confidential Information. Each party agrees
                                            to use its commercially reasonable efforts to minimize the disclosure of Confidential Information
                                            under this Section 20.2(c).

 

		21.	MISCELLANEOUS

 

		21.1.	Governing
                                            Law; Disclaimer.

 

		(a)	The
                                            state laws of the State of California and the federal laws of the United States of America
                                            shall govern all questions concerning the construction, validity, interpretation and enforceability
                                            of this Agreement and the performance of the obligations imposed by this Agreement without
                                            giving effect to any choice of law or conflict of law rules or provisions that would cause
                                            the application of the laws of any jurisdiction other than state laws of the State of California
                                            and the federal laws of the United States of America.

 

    Page 68

     

    

 

		(b)	The
                                            state and federal courts located in New York, New York shall have jurisdiction to adjudicate
                                            any dispute or claim arising out of or relating to this Agreement or performance hereof (including
                                            non-contractual disputes or claims). Each Party hereby consents to the jurisdiction and venue
                                            of such courts and agrees not to assert the defenses of lack of personal jurisdiction, improper
                                            venue or forum non convenience in any action brought before such courts.

 

		(c)	Each
                                            party disclaims the applicability of the United Nations Convention on Contracts for the International
                                            Sale of Goods to this Agreement.

 

		21.2.	Relationship
                                            of the Parties. The relationship between the Parties is solely that of independent contracting
                                            parties as a seller and a purchaser and a licensor and a licensee. Nothing in this Agreement
                                            creates any agency, joint venture, partnership or other form of joint enterprise, employment
                                            or fiduciary relationship between the Parties. Neither Party has any express or implied right
                                            or authority to assume or create any obligations on behalf of or in the name of the other
                                            Party or to bind the other Party to any contract, agreement or undertaking with any third
                                            party.

 

		21.3.	Notices.
                                            Except for communications among the CB Members, all notices to be given or delivered under
                                            or by reason of the provisions of this Agreement shall be in writing and shall be deemed
                                            to have been given (a) when delivered personally to the recipient, (b) one (1) Business Day
                                            (or for international delivery two (2) Business Days) following delivery to a reputable express
                                            courier service for next day (or for international delivery second day) delivery to the recipient
                                            (charges prepaid), or (c) when sent if sent by email to the recipient prior to 5pm on a Business
                                            Day in the jurisdiction in which the recipient is located or the following Business Day if
                                            sent at or after 5pm on a Business Day in the jurisdiction in which the recipient is located
                                            or on a day that is not a Business Day in the jurisdiction in which the recipient is located.
                                            Such notices, demands or other communications shall be sent to the respective Persons at
                                            the following addresses (or at such other address for a Party as shall be specified in a
                                            notice given in accordance with this Section 21.3):

 

	If
    to FF, to:	Faraday&Future
                                            Inc.

    18455
    S. Figueroa Street

    Gardena,
    CA 90248

    U.S.A.

    Attn.
    Dr. Carsten Breitfeld

    e-mail:
    [______]

     

	with
                                            a copy to

                                            (which shall not constitute notice):

     

     

     

     
	Faraday&Future
                                            Inc.

    18455
    S. Figueroa Street

    Gardena,
    CA 90248

    U.S.A.

    Attn.
    Brian Fritz, Associate General Counsel

    e-mail:
    brian.fritz@ff.com

     

    and

     

    Troutman
    Pepper Hamilton Sanders LLP

    301
    S. College Street, Suite 3400

    Charlotte,
    NC 28202

    Attn:
    Christian Chad Warpula, P.C.

    email:
    chad.warpula@troutman.com

     

	If
    to MS, to:	Myoung
                                            Shin Co., Ltd.

                                            34 Jayu-ro, Gunsan-si,

    Jeonllabuk-do,
    Republic of Korea

    Attn:
    Youngho Cho, Director

    e-mail:
    choyoungho@ms-global.com

     

	with
    a copy to 

    (which shall not constitute notice):	K&L
                                            Gates

                                            Toranomon Hills Mori Tower 28F

    1-23-1
    Toranomon, Minato-ku

    Tokyo
    105-6328 JAPAN

    Attn:
    Dooyong Kang, Esq.

    e-mail:
    dooyong.kang@klgates.com

 

    Page 69

     

    

 

		21.4.	Dispute
                                            Resolution.

 

		(a)	General.
                                            The provisions of this Section 21.4 shall apply to any dispute, controversy or claims between
                                            the Parties concerning or in any way arising out of or relating to this Agreement (each,
                                            a “Dispute”). A Party seeking a resolution of any such Dispute by initiating
                                            the dispute resolution procedure under this Section 21.4 shall issue a written notice to
                                            the other Party within a reasonable time period after the occurrence of such Dispute (each,
                                            a “Notice of Dispute”).

 

		(b)	Discussions.
                                            The Parties agree to make a diligent, good faith effort to resolve any Dispute amicably.
                                            To this end, an escalation board meeting as detailed in Annex 21 shall be held, with
                                            members meeting in person, within thirty (30) days after receipt of a Notice of Dispute by
                                            either Party at a mutually agreeable time and place to discuss possible resolution of the
                                            Dispute. In the event that the escalation board is not able to resolve such Dispute within
                                            sixty (60) days after receipt of such Notice of Dispute by the other Party, or such other
                                            period of time as the Parties may mutually agree in writing, then the issue will be escalated
                                            to a member of senior management for each Party (such designated members of senior management,
                                            the “Executive Board”). If the Executive Board is not able to resolve
                                            the Dispute within sixty (60) days of such escalation to it, then, either Party may, by written
                                            notice to the other, invoke the arbitration procedures as set forth in the following provisions
                                            of this Section 21.4.

 

		(c)	Arbitration.
                                            The Parties agree that, any Dispute that is not resolved as provided above shall be resolved
                                            through binding arbitration under the Rules of Arbitration of the International Chamber of
                                            Commerce (the “ICC Rules”), except as modified herein. In the event there
                                            are two or more Disputes related to or based upon some or all of the same facts, events or
                                            circumstances, such Disputes shall be resolved in a single, consolidated arbitration.

 

		(d)	Arbitrators.
                                            Each Party shall select one arbitrator, and the two arbitrators so selected shall choose
                                            a third arbitrator. All three arbitrators shall serve as neutrals and have at least ten (10)
                                            years of: (a) dispute resolution experience; or (b) legal experience in the automotive manufacturing
                                            industry. If a Party fails to nominate its arbitrator, or if the Parties’ arbitrators
                                            cannot agree on the third arbitrator, the necessary appointments shall be made by [the International
                                            Court of Arbitration of the International Chamber of Commerce] in accordance with the Rules
                                            and the terms of this Section 21.4. Once an arbitrator is appointed, neither Party shall
                                            have any ex-parte communication with such arbitrator.

 

		(e)	Location.
                                            The arbitration shall be conducted in the State of California or such other location as may
                                            be agreed in writing by the Parties. The arbitrators shall have discretion to conduct any
                                            pre-hearing conferences by telephone or video conference if they see fit.

 

		(f)	Language.
                                            The arbitration proceedings and all pleadings and written evidence shall be in the English
                                            language. Any written evidence originally in another language shall be submitted with a certified
                                            English translation accompanied by the original or a true copy thereof.

 

		(g)	Making
                                            Employees Available. Each Party agrees to use reasonable efforts to make available for
                                            the arbitration any current employee with information relevant to the Dispute, if reasonably
                                            needed, and agrees that the arbitrators may deem any Person as “necessary.”

 

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		(h)	Duration.
                                            The arbitration hearing shall be concluded as expeditiously as reasonably practicable following
                                            the filing of the initial request for arbitration. The arbitrators must use their best efforts
                                            to complete the arbitration hearing within twelve (12) months of the initial request for
                                            arbitration, with a written award to follow the hearing as set forth in this Section 21.4.

 

		(i)	Award.
                                            The arbitrators shall be instructed and required to render a written, binding, non-appealable
                                            resolution and award on each issue, which shall include a clear statement of the bases for
                                            each such resolution and award. The written resolution and award shall be delivered to the
                                            Parties as expeditiously as possible, but not later than ninety (90) days after conclusion
                                            of the hearing, unless otherwise agreed by the Parties. Judgment upon such award may be entered
                                            in any competent court or application may be made to any competent court for judicial acceptance
                                            of such award and order for enforcement. The arbitrators shall not have authority to: (i)
                                            make any award that could not be made by a court of competent jurisdiction or (ii) modify
                                            the limitations on liability set forth herein or make any award in violation thereof. Any
                                            award to be paid by one Party to the other Party as determined by the arbitrators shall be
                                            promptly paid in U.S. dollars, free of any tax, deduction or offset. Any fees or expenses
                                            incurred by a Party in enforcing the award shall, to the maximum extent permitted by Applicable
                                            Law, be charged against the Party resisting enforcement. Any such award shall include interest
                                            from the date of any damages incurred for breach of this Agreement until such award is paid
                                            in full, at a reasonable rate fixed by the arbitrators.

 

		(j)	Fees
                                            and Costs. Each Party shall bear its own costs and expenses (including attorneys’
                                            fees) in the arbitration, except that the arbitrators may order the non-prevailing Party
                                            to bear all or an appropriate portion (reflective of relative success on the issues) of the
                                            costs and expenses (including attorneys’ fees) incurred by the prevailing Party based
                                            on the relative merits of each Party’s positions on the issues in the Dispute. The
                                            non-prevailing Party shall pay the arbitrators’ fees and expenses and any administrative
                                            fees of the arbitration.

 

		(k)	Confidentiality.
                                            All proceedings, documents, decisions and other materials related to the arbitration shall
                                            be deemed Confidential Information of both Parties under the terms of this Agreement unless
                                            the Parties agree otherwise in writing.

 

		(l)	Injunctive
                                            Relief. Notwithstanding anything to the contrary set forth in this Section 21.4, a Party
                                            shall not be required to use the foregoing dispute resolution procedures or otherwise follow
                                            the provisions of this Section 21.4 with respect to any Dispute to which a Party is seeking
                                            purely injunctive or other equitable, non-monetary relief and such Party shall be entitled
                                            to seek relief before any court having jurisdiction over such Dispute and the Parties. In
                                            addition, the Parties may apply to any court of competent jurisdiction for interim relief,
                                            as necessary, without breaching these arbitration provisions and without abridging the powers
                                            of the arbitrators.

 

		21.5.	Severability.
                                            Any provision of this Agreement that is determined by an arbitrator pursuant to this Agreement,
                                            or a court of competent jurisdiction, to be invalid or unenforceable to any Person or circumstance
                                            shall not affect the validity or enforceability of any other provision hereof or the invalid
                                            or unenforceable provision in any other situation or in any other jurisdiction. In the event
                                            any provision of this Agreement is held invalid or unenforceable only in part or degree,
                                            the Parties hereto intend that such provision shall be deemed modified to the minimum degree
                                            necessary to make such provision valid and enforceable under Applicable Law and that such
                                            modified provision shall thereafter be enforced to the fullest extent possible, and shall
                                            remain in full force and effect to the extent not held invalid or unenforceable in order
                                            to carry out the intent and purpose of such invalid or unenforceable provision.

 

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		21.6.	Vienna
                                            Convention. The Parties hereby expressly agree to exclude and disclaim the application
                                            of the provisions of the United Nations Convention on Contracts for the International Sale
                                            of Goods (also referred to as the Vienna Convention), and any successor convention or legislation,
                                            to this Agreement.

 

		21.7.	Counterparts.
                                            This Agreement may be executed by the Parties in multiple counterparts and shall be effective
                                            as of the Effective Date when each Party shall have executed and delivered a counterpart
                                            hereof, whether or not the same counterpart is executed and delivered by each Party. When
                                            so executed and delivered, each such counterpart shall be deemed an original and all such
                                            counterparts shall be deemed one and the same document. Electronic signature shall be deemed
                                            to be, and shall have the same effect as, execution by original signature. Transmission of
                                            images of signed signature pages by facsimile, e-mail or other electronic means shall have
                                            the same effect as the delivery of manually signed documents in person.

 

		21.8.	Equitable
                                            Relief. Each Party shall be entitled to seek equitable relief, without the necessity
                                            of proof of irreparable harm or posting of bond or other security where otherwise required,
                                            with respect to any breach or threatened breach of the confidentiality provisions hereunder
                                            or any violation or threatened violation of the FF Intellectual Property or MS Intellectual
                                            Property, as applicable.

 

		21.9.	Waiver.
                                            No term or provision of this Agreement will be considered waived and no breach consented
                                            to by either Party unless such waiver or consent is in writing and signed on behalf of the
                                            Party against whom it is asserted and such writing includes a specific statement of such
                                            Party’s intent to make such waiver or consent. No consent to or waiver of a breach
                                            of this Agreement by either Party, whether express or implied, will constitute a consent
                                            to, waiver of, or excuse for any other, different, or subsequent breach of this Agreement
                                            by such Party.

 

		21.10.	Modification.
                                            Except as expressly set forth in this Agreement, no modification or change may be made in
                                            this Agreement except by written instrument duly signed by an authorized representative of
                                            both Parties. The Parties may from time to time enter into amendments to this Agreement to
                                            expand either Party’s rights under this Agreement, implement a different approach to
                                            a particular issue, or to implement other changes. Each such amendment must be duly signed
                                            by an authorized representative of each Party before becoming effective and binding on either
                                            Party.

 

		21.11.	Assignment.
                                            Neither Party may assign this Agreement or subcontract or delegate any of its obligations
                                            hereunder without the prior written consent of the other Party, which consent shall not be
                                            unreasonably withheld, delayed or conditioned, provided that FF (1) may assign this Agreement
                                            to (i) any of its Affiliates or (ii) any entity with which or into which such Party may consolidate
                                            or merge, including as part of a Change of Control with respect to FF and (2) FF may subcontract
                                            or delegate any of its obligations to any of its Affiliates or as otherwise permitted by
                                            this Agreement. Notwithstanding the foregoing, no assignment of this Agreement, or any subcontracting
                                            or delegation of obligations hereunder, by either Party without the prior written consent
                                            of the other Party shall relieve the assigning Party of any of its obligations under this
                                            Agreement. Any assignment, subcontracting, or delegation in contravention of this Section
                                            21.11 will be null and void. MS acknowledges that FF is entering into this Agreement in reliance
                                            upon the personal reputation, qualifications, and abilities of the present owner or owners
                                            and employees of MS’s business and operations. Accordingly, MS shall not assign or
                                            transfer this Agreement or any of its rights, or delegate any of its duties or obligations,
                                            under this Agreement, whether voluntarily, by merger or operation of law, or otherwise, except
                                            with the prior consent of FF. A Change in Control with respect to MS shall be deemed a prohibited
                                            assignment under this Section 21.11.

 

		21.12.	Subcontractors.
                                            Without limiting any other obligations with respect to any subcontracting activities, MS
                                            shall not appoint any subcontractors without FF’s prior written agreement in each instance.
                                            Any such subcontractors must agree in writing to be bound by all of the terms of this Agreement
                                            and accept MS’s obligations hereunder with respect to its limited engagement. MS acknowledges
                                            that it shall retain primary liability to FF for its obligations under this Agreement, notwithstanding
                                            the appointment or FF’s approval of any subcontractors and that MS shall be jointly
                                            and severally liable for the actions or omissions of any subcontractors.

 

    Page 72

     

    

 

		(a)	MS
                                            will conduct quality audits at the subcontractors MS intends to commission. Such audits can
                                            also be conducted during series production. MS shall ensure that at FF’s request FF
                                            may participate in such audits. FF shall be entitled at any time to check MS supplied parts
                                            and their production upon prior written notice, prior to their use for assembly or sale as
                                            Spare Parts, for their compatibility with any Quality Targets and FF’s quality requirements.
                                            For this purpose, MS will grant persons assigned with such task by FF access to the production
                                            and storage rooms at the Approved MS Plant, and shall procure that its suppliers of MS supplied
                                            parts shall allow the same access at their facilities, and otherwise both co-operate with
                                            the inspection.

 

		(b)	In
                                            the event of any failure of a subcontractors to perform by not meeting a target, a conflict
                                            of goals or a missed deadline, either in the development phase or the production phase (a
                                            “Subcontractor Error”), MS will, without prejudice to MS’s other
                                            responsibilities under this Agreement, strive to the best of its ability for a solution,
                                            e.g. through appropriate requests to subcontractors, recommendations for alternative or catch-up
                                            measures and/or the creation of task forces for troubleshooting. MS will always consider
                                            the impacts of such measures. Once it becomes clear that a Subcontractor Error cannot be
                                            resolved by MS’s measures, MS will promptly notify FF thereof and provide FF with all
                                            information related to the Subcontractor Error, in particular the possible impacts on the
                                            achievement of the project targets. Any costs incurred by FF in connection with a supplier
                                            error will be borne by MS. MS will notify FF of the occurrence of any Subcontractor Error
                                            even if the Subcontractor Error could be resolved by the measures taken by MS. For the avoidance
                                            of doubt, FF shall not be liable for any Subcontractor Errors and it is the sole responsibility
                                            of MS to obtain compensation from the relevant subcontractors for any costs, expenses and
                                            damages incurred by MS.

 

		21.13.	Entire
                                            Agreement. This Agreement (together with the Annexes and Schedules attached hereto) constitutes
                                            the entire agreement between the Parties hereto with respect to the subject matter hereof.
                                            This Agreement supersedes all prior and simultaneous representations, discussions, negotiations,
                                            letters, proposals, agreements, and understandings between the Parties with respect to the
                                            subject matter hereof, whether written or oral. In the event of any conflict or inconsistency
                                            between the terms of this Agreement and any Annex or Schedule hereto, this Agreement will
                                            control, except as specifically stated otherwise.

 

		21.14.	Cumulative
                                            Remedies. The rights and remedies under this Agreement are cumulative and are in addition
                                            to and not in substitution for any other rights and remedies available at law, in equity
                                            or otherwise, except to the extent expressly provided in this Agreement to the contrary.

 

		21.15.	Publicity.
                                            Each Party shall not make any public announcements or communicate with any news media regarding
                                            this Agreement or the transactions contemplated hereby without the prior written consent
                                            of the other Party, with exception of disclosures made pursuant to any Applicable Law or
                                            to any Governmental Authority. Any publicity shall follow the communication guidelines of
                                            FF attached as Annex 20.

 

		21.16.	No
                                            Third Party Beneficiaries. Except as expressly stated herein, each Party intends that
                                            this Agreement will not benefit, or create any right or cause of action in or on behalf of,
                                            any Person other than the Parties.

 

		21.17.	English
                                            Language. This Agreement is in the English language, which language is controlling in
                                            all respects, and all versions hereof in any other language will not be binding on the Parties.
                                            All communications and notices to be made or given pursuant to this Agreement must be in
                                            the English language. The Parties agree that the Invoices, Product Purchase Orders, Parts
                                            Purchase Orders, Special Orders, Special Parts Order and any additional agreements, contracts,
                                            or documents required by the relationship of the Parties will be in English language.

 

		21.18.	Electronic
                                            Processing. The Parties may process purchase orders and other related documents (including
                                            Invoices and ship notices) and any installment payments or advances in respect of all monetary
                                            obligations between them electronically, either directly or through a third party provider
                                            satisfactory to both Parties. Each Party shall be responsible for its own costs, including
                                            the costs of any provider with which it contracts. All electronic fund transfers and wire
                                            transactions shall be in accordance with National Automated Clearing House Association (NACHA)
                                            rules and in accordance with any reasonable instructions and procedures which either Party
                                            may from time to time supply.

 

[Signatures
on Following Page]

 

    Page 73

     

    

 

IN
WITNESS WHEREOF, the Parties have caused this Contract Manufacturing and Supply Agreement to be duly executed by each of their respective
duly authorized representatives as of the Effective Date.

 

	FF:

 

FARADAY&FUTURE INC.

	 	MS:

 

MYOUNG SHIN CO., LTD.

	 	 	 	 	 
	By:	/s/ Carsten
Breitfeld	 	By:	/s/ Taekyu Lee
	 	Signature	 	 	Signature
	 	 	 	 	 
	 	Carsten
Breitfeld	 	 	Taekyu
Lee
	 	Printed
    Name	 	 	Printed
    Name
	 	 	 	 	 
	 	Global CEO 	 	 	CEO
	 	Title	 	 	Title
	 	 	 	 	 
	 	February
4, 2022	 	 	February
4, 2022
	 	Date	 	 	Date
	By:	 

    /s/ Benedikt Hartmann
	 	By:	/s/ Youngho Cho
	 	Signature	 	 	Signature
	 	 	 	 	 
	 	Benedikt Hartmann 	 	 	Youngho Cho
	 	Printed
    Name	 	 	Printed
    Name
	 	 	 	 	 
	 	Sr. VP Supply Chain 	 	 	Managing Director
	 	Title	 	 	Title
	 	 	 	 	 
	 	February
4, 2022	 	 	February
4, 2022
	 	Date	 	 	Date

 

[Annexes
and Schedules on Following Pages]

 

Signature Page to Contract Manufacturing and Supply
Agreement

 

    

     

    

 

Schedule
5.2 

 

(SOP;
Initial Target Annual Production; Initial Forecast; Initial Prices)

 

 

To
be mutually determined and agreed by the Parties, except as otherwise set forth in an Annex to this Agreement.

 

    Page 2

     

    

 

Schedule
5.5(b)

 

(Forecast
and FF Order Schedule)

 

Monthly
FF Forecast and Product Purchase Order for the FF81 Products by FF

 

		a)	FF
                                            shall commence submitting to MS (i) a Monthly FF Forecast for the FF81 Products and (ii)
                                            a Product Purchase Order for the FF81 Products on or prior to the fifth (5th) day of the
                                            fourth (4th) month prior to each SOP Month Korea and shall continue to submit a Monthly FF
                                            Forecast and Product Purchase Order on or prior to the fifth (5th) day of each month thereafter
                                            during the Term.

 

		b)	Each
                                            Monthly FF Forecast shall provide a forecast for each of the six (6) months commencing with
                                            the fifth (5th) month after the FF Submission Month for the total number of FF81 Products
                                            that it then anticipates that it will require for the applicable FF Sales Territory during
                                            each of such six (6) months.

 

		c)	Each
                                            Product Purchase Order shall indicate the units being ordered for the fourth (4th) month
                                            after the FF Submission Month.

 

		d)	The
                                            following is an illustration for the first (1st) seven (7) FF Submission Months:

 

	 	Month
	FF
    Submission Month	M(-4)	M(-3)	M(-2)	M(-1)	M	M(+1)	M(+2)
	FF
    Forecast Obligation	FF
    Volume Requirement for M(+1, 2, 3, 4, 5, 6)	FF
    Volume Requirement for M(+2, 3, 4, 5, 6, 7)	FF
    Volume Requirement for M(+3, 4, 5, 6, 7, 8)	FF
    Volume Requirement for M(+4, 5, 6, 7, 8, 9)	FF
    Volume Requirement for M(+5, 6, 7, 8, 9, 10)	FF
    Volume Requirement for M(+6, 7, 8, 9, 10, 11)	FF
    Volume Requirement for M(+7, 8, 9, 10, 11, 12)
	FF
    Order Obligation	FF
    Volume Requirement for M	FF
    Volume Requirement for M(+1)	FF
    Volume Requirement for M(+2)	FF
    Volume Requirement for M(+3)	FF
    Volume Requirement for M(+4)	FF
    Volume Requirement for M(+5)	FF
    Volume Requirement for M(+6)
	 	M:
                                            the SOP Month

    M-(Number):
    the calendar month that is (Number) months prior to the SOP Month

    M+(Number):
    the calendar month that is (Number) months after the SOP Month

 

		e)	The
                                            obligation of FF to issue Monthly FF Forecasts and place monthly Product Purchase Orders
                                            shall continue each Submission Month after the seventh FF Submission Month for the remainder
                                            of the Term on an incremental basis in a manner consistent with the foregoing formula for
                                            the foregoing initial FF Submission Months.

 

    1

     

    

 

Schedule
5.6(a)

 

(Form
of Product Purchase Order)

 

    1

     

    

 

Schedule
6.6(b)

 

(MS
Form of Certificate of Insurance)

 

    1

     

    

 

Schedule
9.3(a)

 

(Parts
Order Schedule)

 

Monthly
Parts Purchase Order for the FF Supplied Parts

 

		a)	MS
                                            shall commence submitting to FF a Parts Purchase Order for the FF Supplied Parts for the
                                            FF81 Products on or prior to the fifth (5th) day of the fourth (4th) month prior to each
                                            SOP Month Korea and shall continue to submit a Parts Purchase Order on or prior to the fifth
                                            (5th) day of each month thereafter during the Term.

 

		b)	Each
                                            Parts Purchase Order for FF Supplied Parts shall indicate the FF Supplied Parts being ordered
                                            for the fourth (4th) month after the FF Submission Month.

 

		c)	A
                                            Parts Purchase Order for FF Supplied Parts for FF81 Products shall be based on the corresponding
                                            Product Purchase Order placed by FF and accepted by MS in accordance with the terms of this
                                            Agreement.

 

		d)	The
                                            following is an illustration for the first seven MS Submission Months:

 

	 	Month
	MS
    Submission Month	M(-4)	M(-3)	M(-2)	M(-1)	M	M(+1)	M(+2)
	MS
    Order Obligation for FF Supplied Parts for FF81 Products	MS
    Volume Requirement for M	MS
    Volume Requirement for M(+1)	MS
    Volume Requirement for M(+2)	MS
    Volume Requirement for M(+3)	MS
    Volume Requirement for M(+4)	MS
    Volume Requirement for M(+5)	MS
    Volume Requirement for M(+6)
	 	M:
                                            the SOP Month

    M-(Number):
    the calendar month that is (Number) months prior to the SOP Month

    M+(Number):
    the calendar month that is (Number) months after the SOP Month

 

		e)	The
                                            obligation of MS to place monthly Parts Purchase Orders shall continue each Submission Month
                                            after the seventh MS Submission Month for the remainder of the Term on an incremental basis
                                            in manner consistent with the foregoing formula for the foregoing initial MS Submission Months.

 

    Page 2

     

    

 

Schedule
9.3(b)

 

(Form
of Parts Purchase Order)

 

 

1

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