Document:

EX-10.1

 Exhibit 10.1 

Execution Version 
  

 
 AMENDED AND RESTATED
INTERCREDITOR AGREEMENT 
 among 

WILMINGTON TRUST, NATIONAL ASSOCIATION, 

as First Lien Collateral Trustee for the 

First Lien Secured Parties, 

U.S. BANK NATIONAL ASSOCIATION, 

as Second Lien Collateral Agent for the 

Second Lien Secured Parties, 

each additional Representative from time to time party hereto, 

TRIUMPH GROUP, INC., 

as the Company, and 
 the
other Grantors party hereto, 
 dated as of August 17, 2020 

 
  

 AMENDED AND RESTATED INTERCREDITOR AGREEMENT 

AMENDED AND RESTATED INTERCREDITOR AGREEMENT dated as of August 17, 2020 (as amended, supplemented or otherwise modified from time to
time, this “Agreement”), among WILMINGTON TRUST, NATIONAL ASSOCIATION, as collateral trustee for the First Lien Secured Parties (in such capacity and together with its successors in such capacity, the “First Lien
Collateral Trustee”), U.S. BANK NATIONAL ASSOCIATION, as collateral agent for the Second Lien Secured Parties (in such capacity and together with its successors in such capacity, the “Second Lien Collateral
Agent”), each additional Representative that from time to time becomes a party hereto pursuant to Section 8.09, TRIUMPH GROUP, INC., a Delaware corporation (the
“Company”), and the other Grantors (as defined below) from time to time party hereto. 
 RECITALS: 

1.    On September 23, 2019, the Company and the other Grantors entered into the Intercreditor Agreement (the
“Original Intercreditor Agreement”) with PNC Bank, National Association (“PNC”), as first lien credit agreement collateral agent (in such capacity, the “Original First Lien
Agent”), and U.S. Bank National Association, as second lien collateral agent. 
 2.    PNC is the
administrative agent under the Company’s Third Amended and Restated Credit Agreement dated as of November 19, 2013 (as heretofore amended, the “First Lien Credit Agreement”), which is being terminated, with the
loans thereunder refinanced and the letters of credit issued thereunder cash collateralized (the “Refinancing”) with the proceeds from, among other things, the issuance of the Company’s 8.875% Senior Secured First Lien
Notes due 2024 (such notes, together with any additional notes issued from time to time under the First Lien Indenture referred to below, the “First Lien Notes”) pursuant to the First Lien Indenture. 

3.    In connection with the issuance of the First Lien Notes and the Refinancing, the Company and the other Grantors are
entering into a Collateral Trust Agreement, dated as of the date hereof (as amended, supplemented or otherwise modified from time to time, the “Collateral Trust Agreement”) among the First Lien Collateral Trustee, as
collateral trustee, U.S. Bank National Association, as indenture trustee on behalf of the holders of the First Lien Notes, and any other Secured Debt Representative (as defined therein) that may become a party thereto, which will govern the Liens
held by the First Lien Collateral Trustee for the benefit of the First Lien Secured Parties (as defined below), including the holders of the First Lien Notes. 

4.    The parties hereto desire to amend and restate the Original Intercreditor Agreement to, among other things, reflect
the Refinancing and replace PNC in its capacity as the Original First Lien Agent with the First Lien Collateral Trustee. 
 In consideration
of the mutual agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the First Lien Collateral Trustee (for itself and on behalf of the First Lien Secured Parties), the
Second 

 
Lien Collateral Agent (for itself and on behalf of the Second Lien Secured Parties) and each additional Representative (for itself and on behalf of the holders of the Series of Secured Debt for
which it is Representative) agree to amend and restate the Original Intercreditor Agreement in its entirety as follows: 
 ARTICLE I

 DEFINITIONS 

Section 1.01 Certain Defined Terms. Capitalized terms used but not otherwise defined herein have the meanings set forth in the
Collateral Trust Agreement or, if defined in the New York UCC, the meanings specified therein. As used in this Agreement, the following terms have the meanings specified below: 

“Additional First Lien Debt” means any Indebtedness that is incurred, issued or guaranteed by the Company and/or any
other Grantor (other than Indebtedness constituting First Lien Initial Obligations), which Indebtedness and guarantees are secured by the First Lien Collateral (or a portion thereof) on a pari passu basis with the First Lien Initial Obligations,
including, in any event, any “Additional Secured Debt” under, and as defined in, the Collateral Trust Agreement; provided, however, that (i) such Indebtedness is permitted to be incurred, secured and guaranteed, as
applicable, on such basis by each then-existing First Lien Document and Second Lien Document and (ii) unless already a party with respect to that series of Additional First Lien Debt, the trustee, agent or representative for the holders of such
Indebtedness shall have become a party to the Collateral Trust Agreement and satisfied, or caused to be satisfied, the conditions set forth in Section 8.09 hereof. 

“Additional First Lien Documents” means, with respect to any series, issue or class of Additional First Lien Debt, the
loan agreements, the promissory notes, indentures, the First Lien Security Documents or other operative agreements evidencing or governing such Indebtedness, including, in any event, any agreement governing “Additional Secured Debt” under,
and as defined in, the Collateral Trust Agreement. 
 “Additional First Lien Obligations” means, with respect to any
series, issue or class of Additional First Lien Debt, all amounts owing pursuant to the terms of such Additional First Lien Debt, including, without limitation, the obligation (including guarantee obligations) to pay principal, interest (including
interest, fees or expenses accrued thereon after the commencement of any Insolvency or Liquidation Proceeding), premium, letter of credit commissions, reimbursement obligations, charges, expenses, fees, attorneys costs, indemnities and other
Obligations payable by a Grantor under any Additional First Lien Document. Additional First Lien Obligations shall not include any DIP Financing. 

“Additional Secured Debt Designation” means, in the case of any Series of Second Lien Debt: 

(a)    the written agreement of the holders of such Series of Second Lien Debt and their Representative, as set forth in
the indenture, credit agreement or other agreement governing such Series of Second Lien Debt, for the benefit of the First Lien Secured Parties and the other Second Lien Secured Parties that all Second Lien Obligations will be and are secured
equally and ratably by all Second Liens at any time granted by the Company or any other Grantor to secure any Obligations in respect of such Series of Second Lien Debt; and 

  
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 (b)    the Second Lien Representative and the holders of Obligations in
respect of such Series of Second Lien Debt are bound by the provisions of this Agreement, including the provisions relating to the ranking of First Liens and Second Liens and the order of application of proceeds from the enforcement of First Liens
and Second Liens and such Second Lien Representative shall have become party to this Agreement pursuant to and by satisfying the conditions set forth in, Section 8.09 hereof. 

“Agreement” has the meaning assigned to such term in the introductory paragraph of this Agreement. 

“Bank Product Obligations” of any Person means the obligations of such Person, whether absolute or contingent and
howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor) pursuant to any treasury or cash management services, including deposit accounts, overdraft,
credit or debit card, funds transfer (including electronic funds transfer), automated clearinghouse, zero balance accounts, returned check concentration, controlled disbursement, lockbox, account reconciliation and reporting and trade finance
services and other cash management services and including, in any event, “Banking Services Obligations” under, and as defined in, the “Collateral Trust Agreement”. 

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

“Bankruptcy Law” means the Bankruptcy Code and any similar federal, state or foreign law for the relief of debtors.

 “Capital Stock” of any Person means any and all shares, interests, participations or other equivalents (however
designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants or options to purchase any of the foregoing. 

“Class Debt” has the meaning assigned to such term in
Section 8.09. 
 “Class Debt
Parties” has the meaning assigned to such term in Section 8.09. 

“Collateral” means the First Lien Collateral and the Second Lien Collateral. 

“Collateral Documents” means the First Lien Security Documents and the Second Lien Security Documents. 

“Collateral Trust Agreement” has the meaning assigned to such term in the recitals of this Agreement. 

“Company” has the meaning assigned to such term in the introductory paragraph of this Agreement. 

  
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 “Designated Second Lien Representative” means (i) the Second
Lien Collateral Agent, so long as the Second Lien Debt under the Second Lien Indenture is the only Second Lien Debt under this Agreement and (ii) at any time when clause (i) does not apply, the Second Lien Representative designated from
time to time by the Second Lien Majority Representative in a notice to the First Lien Collateral Trustee and the Company hereunder, as the “Designated Second Lien Representative” for purposes hereof. 

“DIP Financing” has the meaning assigned to such term in
Section 6.01(a). 
 “Discharge of First Lien Obligations” means the
occurrence of all of the following: 
 (1)    termination or expiration of all commitments to extend credit that would
constitute First Lien Obligations; 
 (2)    payment in full in cash of the principal of and interest, fees, expenses
(including all interest, fees and expenses accrued after the commencement of any Insolvency or Liquidation Proceeding whether or not allowed or allowable in such proceeding) and premium (if any) on all First Lien Obligations (other than any undrawn
letters of credit); 
 (3)    discharge or cash collateralization (at the lower of (i) 105% of the aggregate undrawn
amount and (ii) the percentage of the aggregate undrawn amount required for release of Liens under the terms of the applicable First Lien Document) of all outstanding letters of credit constituting First Lien Obligations; 

(4)    payment in full in cash of obligations in respect of Hedging Obligations constituting First Lien Obligations (and,
with respect to any particular agreement regarding Hedging Obligations, termination of such agreement and payment in full in cash of all obligations thereunder or such other arrangements as have been made by the counterparty thereto (and
communicated to the First Lien Collateral Trustee) pursuant to the terms of the First Lien Documents) other than such Hedging Obligations that have been novated or collateralized to the extent required by the terms thereof; 

(5)    payment in full in cash of all other First Lien Obligations, including, without limitation, Bank Product
Obligations constituting First Lien Obligations, that are outstanding and unpaid at the time the First Lien Obligations are paid in full in cash (other than any obligations for taxes, costs, indemnifications, reimbursements, damages and other
liabilities in respect of which no claim or demand for payment has been made at or prior to such time); and 

(6)    “Discharge of Secured Obligations” under, and as defined in, the Collateral Trust Agreement. 

A replacement of First Lien Obligations with other First Lien Obligations shall not be deemed to cause a Discharge of First Lien Obligations.

 “Discharge of Second Lien Obligations” means the occurrence of all of the following: 

(a)    payment in full in cash of the principal of and interest (including all interest accrued thereon after the
commencement of any Insolvency or Liquidation Proceeding) and premium (if any) on all Second Lien Debt; and 

  
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 (b)    payment in full in cash of all other Second Lien Obligations that
are outstanding and unpaid at the time the Second Lien Debt is paid in full in cash (other than any obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities in respect of which no claim or demand for payment has
been made at or prior to such time). 
 A replacement of Second Lien Obligations with other Second Lien Obligations shall not be deemed to
cause a Discharge of Second Lien Obligations. 
 “First Lien” means a Lien granted by the Company or any other
Grantor in favor of the First Lien Collateral Trustee, at any time, upon any property of the Company or any other Grantor to secure First Lien Obligations. 

“First Lien Class Debt” has the meaning assigned to such term in
Section 8.09. 
 “First Lien Class Debt
Parties” has the meaning assigned to such term in Section 8.09. 

“First Lien Collateral” means all “Collateral” (or comparable term) as defined in the First Lien Security
Documents or any other First Lien Document, and any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a First Lien Security Document as security for any First Lien
Obligation. 
 “First Lien Collateral Trustee” has the meaning assigned to such term in the introductory paragraph
of this Agreement or any similar representative then most recently designated in accordance with the applicable provisions of the Collateral Trust Agreement. 

“First Lien Credit Agreement” has the meaning assigned to such term in the recitals of this Agreement. 

“First Lien Documents” means, collectively, the First Lien Note Documents, the First Lien Security Documents and the
Additional First Lien Documents. 
 “First Lien Indenture” means the Indenture dated as of August 17, 2020
among the Company, the other Grantors and U.S. Bank National Association, as trustee, as amended, restated, amended and restated, extended, supplemented or otherwise modified from time to time and, subject to
Section 8.10, shall include any Refinanced indenture identified by the Company in writing as the First Lien Indenture. 

“First Lien Initial Obligations” means the First Lien Notes and the other Obligations (as defined in the First Lien
Indenture) of the Company and the other Grantors under the First Lien Notes and the First Lien Indenture (excluding any Permitted Additional First Lien Secured Obligations (as defined in the First Lien Indenture)). 

  
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 “First Lien Note Documents” means the First Lien Indenture, the
First Lien Notes, the guarantees thereof by the Grantors (other than the Company), the First Lien Security Agreement and any other First Lien Security Documents entered into in connection therewith and this Agreement. 

“First Lien Notes” has the meaning assigned to such term in the recitals of this Agreement. 

“First Lien Obligations” means the First Lien Initial Obligations and the Additional First Lien Obligations. First
Lien Obligations shall include, in any event, “Secured Obligations” under, and as defined in, the Collateral Trust Agreement. 

“First Lien Secured Parties” means the “Secured Parties” under, and as defined in, the Collateral Trust
Agreement. 
 “First Lien Security Agreement” means the Security Agreement, dated as of the date hereof, by and
among the Company, the other Grantors and the First Lien Collateral Trustee, as collateral agent for the First Lien Secured Parties, as such agreement has been or may be amended, restated, supplemented or otherwise modified from time to time. 

“First Lien Security Documents” means the “Security Documents” under, and as defined in, the Collateral
Trust Agreement, including the First Lien Security Agreement, and all other security agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, collateral agency agreements, control agreements or other grants or transfers for
security executed and delivered by the Company or any other Grantor creating (or purporting to create) a First Lien in favor of the First Lien Collateral Trustee, in each case, as amended, modified, renewed, restated or replaced, in whole or in
part, from time to time. 
 “Grantors” means the Company, each other Subsidiary of the Company that shall have
granted any Lien in favor of any First Lien Secured Party and/or any Second Lien Secured Party on any of its assets or properties to secure any of the First Lien Obligations and/or Second Lien Obligations. The Grantors existing on the date hereof
are listed on the signature pages hereto as “Grantors.” 
 “Hedging Obligations” of any Person means the
obligations of such Person pursuant to (i) any interest rate swap agreement, interest rate cap agreement or other financial agreement or arrangement relating to fluctuations in interest rates, (ii) any foreign exchange contract, currency
swap agreement or other similar agreement, (iii) any cap, floor, collar, exchange transaction, hedging contract, forward contract, swap agreement, futures contract, call or put option or any other similar agreement or other exchange or
protection agreement relating to commodity prices, securities prices or financial market conditions and including, in any event, “Hedging Obligations” under, and as defined in, the Collateral Trust Agreement. 

“Indebtedness” means (i) debt for borrowed money, including obligations evidenced by bonds, debentures, notes or
other similar instruments (other than any obligations in respect of performance bonds, bid bonds, appeal bonds, surety bonds, reclamation bonds and completion guarantees and similar obligations), (ii) drawn and undrawn letters of credit,
(iii) Bank Product Obligations, (iv) Hedging Obligations and (v) any other “Indebtedness” within the meaning of the First Lien Indenture or the Second Lien Indenture. 

  
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 “Insolvency or Liquidation Proceeding” means: 

(1)    any case or proceeding commenced by or against the Company or any other Grantor under the Bankruptcy Code or any
other Bankruptcy Law, any other proceeding for the reorganization, recapitalization or adjustment or marshalling of the assets or liabilities of the Company or any other Grantor, any receivership or assignment for the benefit of creditors relating
to the Company or any other Grantor or any similar case or proceeding relative to the Company or any other Grantor or its creditors, as such, in each case whether or not voluntary; 

(2)    any liquidation, dissolution, marshalling of assets or liabilities or other winding up of or relating to the
Company or any other Grantor, in each case whether or not voluntary and whether or not involving bankruptcy or insolvency; or 

(3)    any other proceeding of any type or nature in which substantially all claims of creditors of the Company or any
other Grantor are determined and any payment or distribution is or may be made on account of such claims. 
 “Joinder
Agreement” means a supplement to this Agreement in substantially the form of Annex II hereof. 
 “New
York UCC” means the Uniform Commercial Code as from time to time in effect in the State of New York. 

“Obligations” means any principal, premium, if any, interest, fees and expenses (including interest accruing on or
after the commencement of any Insolvency or Liquidation Proceeding, whether or not a claim for post-filing interest, fees and expenses is allowed or allowable in such proceeding), penalties, charges, indemnifications, reimbursement obligations,
damages, guarantees, and other liabilities or amounts payable under the documentation governing any Indebtedness or in respect thereto, and renewals or extensions of the foregoing to the extent not prohibited hereunder. 

“Officers’ Certificate” has the meaning provided to such term in
Section 8.08. 
 “Original First Lien Agent” has the meaning assigned
to such term in the recitals of this Agreement. 
 “Original Intercreditor Agreement” has the meaning assigned to
such term in the recitals of this Agreement. 
 “Person” means any individual, natural person, corporation,
partnership, limited liability company, association, joint-stock company, trust, unincorporated organization, joint venture, government or political subdivision or agency thereof, or any other entity. 

“Pledged or Controlled Collateral” has the meaning assigned to such term in
Section 5.05(a). 

  
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 “PNC” has the meaning assigned to such term in the recitals of this
Agreement. 
 “Proceeds” means (i) “proceeds,” as that term is defined in the Uniform Commercial Code, of
Shared Collateral, (ii) any payment or distribution made in respect of Shared Collateral in an Insolvency or Liquidation Proceeding, and (iii) any amounts received by the First Lien Collateral Trustee or any First Lien Secured Party from a
Second Lien Secured Party in respect of Shared Collateral pursuant to this Agreement. 
 “Recovery” has the meaning
assigned to such term in Section 6.04. 
 “Refinance” means, with
respect to any Indebtedness, to refinance, extend, renew, refund, repay, prepay, redeem, defease or retire, or to issue other Indebtedness in exchange or replacement for, such Indebtedness, including successively.
“Refinanced” and “Refinancing” shall have correlative meanings. 
 “Replacement
First Lien Obligations” has the meaning assigned to such term in Section 8.10. 

“Replacement Second Lien Obligations” has the meaning assigned to such term in
Section 8.10. 
 “Representatives” means the First Lien Collateral
Trustee and the Second Lien Representatives. 
 “Second Lien” means a Lien junior to the First Liens, granted by the
Company or any other Grantor in favor of the Second Lien Collateral Agent or other Second Lien Representative pursuant to a Second Lien Security Document, at any time, upon any property of the Company or any other Grantor to secure Second Lien
Obligations. 
 “Second Lien Class Debt” has the meaning assigned to such term in
Section 8.09. 
 “Second Lien Class Debt
Parties” has the meaning assigned to such term in Section 8.09. 

“Second Lien Class Debt Representatives” has the meaning assigned to such term in
Section 8.09. 
 “Second Lien Collateral” means all
“Collateral” (or comparable term) as defined in the Second Lien Security Documents, and any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Lien
Security Document as security for any Second Lien Obligation. 
 “Second Lien Collateral Agent” has the meaning
assigned to such term in the introductory paragraph of this Agreement. 
 “Second Lien Debt” means: 

(1)    the Second Lien Initial Obligations; and 

  
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 (2)    any other Indebtedness that is incurred, issued or guaranteed by
the Company and/or any other Grantor which Indebtedness and guarantees are secured by liens on the Collateral (or a portion thereof) having junior priority ranking to the Liens of any First Lien Obligations and on a pari passu basis with the Liens
of the Second Lien Initial Obligations; provided, however, that (i) such Indebtedness is permitted to be incurred, secured and guaranteed on such basis by each First Lien Document, and (ii) the Representative for the holders
of such Indebtedness shall have become party to this Agreement pursuant to, and by satisfying, or causing to be satisfied, the conditions set forth in, Section 8.09 hereof. 

“Second Lien Documents” means, collectively, the Second Lien Note Documents and any additional indenture, supplemental
indenture, credit agreement or other agreement governing each other Series of Second Lien Debt and the Second Lien Security Documents. 

“Second Lien Enforcement Date” means, with respect to the Designated Second Lien Representative, prior to the
Discharge of First Lien Obligations, the date which is 180 days after the occurrence of both (i) an Event of Default (under and as defined in the Second Lien Documents for which such Second Lien Representative has been named as Representative)
and (ii) the First Lien Collateral Trustee’s receipt of written notice from such Second Lien Representative that (x) such Second Lien Representative is the Designated Second Lien Representative and that an Event of Default (under and
as defined in the Second Lien Documents for which such Second Lien Representative has been named as a Representative) has occurred and is continuing and (y) the Second Lien Obligations of the series with respect to which such Second Lien
Representative has been named as a Representative are currently due and payable in full (whether as a result of acceleration thereof or otherwise) in accordance with the terms of the applicable Second Lien Document; provided that the Second
Lien Enforcement Date shall be stayed and shall not occur and shall be deemed not to have occurred (1) at any time the First Lien Collateral Trustee has commenced and is diligently pursuing any enforcement action with respect to all or any
material portion of the Shared Collateral or (2) at any time the Company or applicable other Grantor which has granted a security interest in such Shared Collateral is then a debtor under or with respect to (or otherwise subject to) any
Insolvency or Liquidation Proceeding. 
 “Second Lien Indenture” means the Indenture dated as of September 23,
2019 among the Company, the other Grantors, the Second Lien Collateral Agent and the Second Lien Indenture Trustee, as amended, restated, amended and restated, extended, supplemented or otherwise modified from time to time and, subject to
Section 8.10, shall include any Refinanced indenture identified by the Company in writing as the Second Lien Indenture. 

“Second Lien Indenture Trustee” means U.S. Bank National Association, in its capacity as trustee under the Second Lien
Indenture, together with its successors in such capacity. 
 “Second Lien Initial Obligations” means the Second Lien
Notes and the other Obligations (as defined in the Second Lien Indenture) of the Company and the other Grantors under the Second Lien Notes and the Second Lien Indenture (excluding any Permitted Additional Pari Passu Secured Obligations (as defined
in the Second Lien Indenture)). 

  
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 “Second Lien Majority Representatives” means the Second Lien
Representatives representing at least a majority of the then aggregate amount of Second Lien Obligations that agree to vote together. 

“Second Lien Note Documents” means the Second Lien Indenture, the Second Lien Notes, the
guarantees thereof by the Grantors (other than the Company), the Second Lien Security Agreement and any other Second Lien Security Documents entered into in connection therewith and this Agreement. 

“Second Lien Notes” means the Company’s 6.250% Senior Secured Notes due 2024 issued pursuant to the Second Lien
Indenture. 
 “Second Lien Obligations” means Second Lien Debt and all other Obligations in respect thereof. 

“Second Lien Representative” means: 

(1)    in the case of the Second Lien Initial Obligations, the Second Lien Collateral Agent and 

(2)    in the case of any Second Lien Debt incurred after the date hereof, the trustee, administrative agent, collateral
agent, security agent or similar agent under the Second Lien Documents governing such Second Lien Debt that is named as the Representative in respect of such Second Lien Debt in the applicable Joinder Agreement. 

“Second Lien Secured Party” means any Second Lien Representative, the Second Lien Collateral Agent and any holder of
Second Lien Obligations. 
 “Second Lien Security Agreement” means that certain Security Agreement, dated as of the
date hereof, by and among the Company, the other Grantors, and the Second Lien Collateral Agent, as the Second Lien Representative for the holders of the Second Lien Notes, as such agreement has been or may be amended, restated, supplemented or
otherwise modified from time to time. 
 “Second Lien Security Documents” means the Second Lien Security Agreement
and all other security agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, collateral agency agreements, control agreements or other grants or transfers for security executed and delivered by the Company or any other
Grantor creating (or purporting to create) a Second Lien upon Second Lien Collateral in favor of the Second Lien Collateral Agent or any other Second Lien Representative, in each case, as amended, modified, renewed, restated or replaced, in whole or
in part, from time to time, in accordance with its terms. 
 “Secured Debt Documents” means the First Lien Documents
and the Second Lien Documents. 
 “Secured Party” means any First Lien Secured Party and any Second Lien Secured
Party. 

  
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 “Series of First Lien Obligations” means, severally, the First Lien
Initial Obligations and each other issue, series or incurrence of Additional First Lien Obligations for which a single transfer register is maintained. 

“Series of Second Lien Debt” means, severally, the Second Lien Notes and each other issue, series or incurrence of
Second Lien Debt. 
 “Series of Secured Debt” means each Series of First Lien Obligations and each Series of Second
Lien Debt. 
 “Shared Collateral” means, at any time, any property and assets wherever located and whether now owned
or later acquired, in which holders of First Lien Obligations under at least one First Lien Document and the holders of Second Lien Obligations hold a security interest or Lien (or, in case of First Lien Secured Parties, are deemed to hold a Lien
pursuant to this Agreement) at such time. If, at any time, any portion of the First Lien Collateral under one or more First Lien Documents does not constitute Second Lien Collateral in respect of one or more Series of Second Lien Debt, then such
portion of such First Lien Collateral shall constitute Shared Collateral only with respect to the Series of Second Lien Debt for which it constitutes Second Lien Collateral and shall not constitute Shared Collateral for any Series of Second Lien
Debt which does not have a security interest in such collateral at such time. 
 “Subsidiary” means, with respect to
any Person, (i) any corporation or trust of which 50% or more (by number of shares or number of votes) of the outstanding capital stock or shares of beneficial interest normally entitled to vote for the election of one or more directors or
trustees (regardless of any contingency which does or may suspend or dilute the voting rights) is at such time owned directly or indirectly by such Person or one or more of such Person’s Subsidiaries, (ii) any partnership of which such
Person is a general partner or of which 50% or more of the partnership interests is at the time directly or indirectly owned by such Person or one or more of such Person’s Subsidiaries, (iii) any limited liability company of which such
Person is a managing member or of which 50% or more of the limited liability company interests is at the time directly or indirectly owned by such Person or one or more of such Person’s Subsidiaries, or (iv) any corporation, trust,
partnership, limited liability company or other entity which is controlled or capable of being controlled by such Person or one or more of such Person’s Subsidiaries. 

“Uniform Commercial Code” means, unless otherwise specified, the Uniform Commercial Code as from time to time in
effect in the State of New York or of any other state the laws of which are required to be applied in connection with the creation or perfection of the security interests in any Collateral. 

Section 1.02 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, (i) any definition of or reference to any agreement,
instrument, other document, statute or regulation herein shall be construed as referring to such agreement, instrument, other document, statute or regulation as from time to time amended, 

  
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supplemented or otherwise modified, (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, but shall not be deemed to include the
subsidiaries of such Person unless express reference is made to such subsidiaries, (iii) 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, (iv) all references herein to Articles, Sections and Annexes shall be construed to refer to Articles, Sections and Annexes of this Agreement, (v) unless otherwise expressly qualified
herein, 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,
(vi) the term “or” is not exclusive, and (vii) the term “exercise of rights and remedies” or terms of like import include remedial acts to which the Company or any other Grantor consent or assist. Any references to the
Second Lien Collateral Agent and the Second Lien Indenture Trustee under the Second Lien Indenture means such entity as “collateral trustee” or “trustee”, as applicable, under the Second Lien Indenture, the Second Lien Security
Agreement and/or the other Second Lien Note Documents, and not in any other capacity, including their respective individual capacities. 

ARTICLE II 
 PRIORITIES
AND AGREEMENTS WITH RESPECT TO SHARED COLLATERAL 
 Section 2.01 Lien Subordination. Notwithstanding (a) anything to
the contrary contained in any First Lien Documents or any Second Lien Documents, (b) how a Lien was acquired (whether by grant, possession, statute, operation of law, subrogation, or otherwise), (c) the date, time, manner, method or order of
the grant, attachment or perfection of a Lien, (d) any conflicting provision of the New York Uniform Commercial Code or other applicable law, (e) any defect in, or non-perfection, setting aside, or
avoidance of, a Lien or a First Lien Document or a Second Lien Document or (f) the modification of a First Lien Obligation or a Second Lien Obligation, each Second Lien Secured Party hereby agrees that all Second Liens on the Shared Collateral
at any time granted by the Company or any other Grantor will be subject and subordinate to all First Liens on the Shared Collateral securing or purporting to secure any First Lien Obligations. The subordination provided for in this Agreement is lien
subordination only and the Second Lien Obligations are not subordinated in right of payment to the First Lien Obligations. 

Section 2.02 Nature of Senior Debt Obligations. 

(a)    Each Second Lien Secured Party acknowledges that, in accordance with the Second Lien Documents, the subordination
and the relative Lien priorities set forth in Section 2.01 shall not be affected by the fact that (i) the aggregate amount of the First Lien Obligations may be increased from time to time pursuant
to the terms of the First Lien Documents, (ii) a portion of the First Lien Obligations consists or may consist of Indebtedness that is revolving in nature or reimbursement obligations with respect to letters of credit, and the amount thereof
that may be outstanding at any time or from time to time may be increased or reduced and subsequently reborrowed, (iii) the First Lien Documents may be replaced, restated, supplemented, restructured or otherwise amended or modified from time to
time and (iv) the First Lien Obligations may be increased, extended, renewed, replaced, restated, supplemented, restructured, repaid, Refinanced or otherwise amended or modified from time to time. 

  
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 (b)    The Lien priorities provided for in
Section 2.01 shall not be altered or otherwise affected by any amendment, modification, supplement, extension, increase, renewal, restatement or replacement of any of the First Lien Obligations
(or any part thereof) or the Second Lien Obligations (or any part thereof), by the release of any Collateral or of any guarantees for any First Lien Obligations or by any action that any Secured Party may take or fail to take in respect of any
Collateral. As between the Company and the other Grantors, on the one hand, and the Second Lien Secured Parties, on the other hand, the foregoing provisions will not limit or otherwise affect the obligations of the Company and the other Grantors
contained in any Second Lien Document with respect to the incurrence of Additional First Lien Obligations. 
 Section 2.03
Prohibition on Contesting Liens. 
 (a)    Each Second Lien Secured Party agrees that it shall not (and hereby
waives any right to) contest or support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the validity, extent, perfection, priority or enforceability of any Lien securing, or the allowability of
any claim asserted with respect to, any First Lien Obligations held (or purported to be held) by or on behalf of the First Lien Collateral Trustee or any of the other First Lien Secured Parties or other agent or trustee therefor in any First Lien
Collateral. 
 (b)    Each First Lien Secured Party agrees that it shall not (and hereby waives any right to) contest or
support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the validity, extent, perfection, priority or enforceability of any Lien securing, or the allowability of any claim asserted with respect
to, any Second Lien Obligations held (or purported to be held) by or on behalf of the Second Lien Collateral Agent or any of the other Second Lien Secured Parties or other agent or trustee therefor in any Second Lien Collateral. 

(c)    Notwithstanding the foregoing, no provision in this Agreement shall be construed to prevent or impair the rights of
the First Lien Collateral Trustee to enforce this Agreement (including the priority of the Liens securing the First Lien Obligations as provided in Section 2.01) or any of the First Lien Documents. 

Section 2.04 No Other Liens, Rights or Remedies. 

(a)    The Secured Parties agree that, so long as the Discharge of First Lien Obligations has not occurred,
(x) neither the Company nor any of its Subsidiaries shall grant or permit any additional Liens on any asset to secure any Second Lien Obligation, and no Second Lien Secured Party shall hold any Lien on any asset to secure any Second Lien
Obligation unless, in any case, the Company or such Subsidiary has granted, or concurrently therewith grants, a First Lien on such asset to secure the First Lien Obligations and (y) no guarantor shall guarantee any Second Lien Obligation, and
no Second Lien Secured Party shall permit any guarantee with respect to any Second Lien Obligation unless, in any case, such guarantor has guaranteed, or concurrently therewith guarantees, the First Lien Obligations. In addition, the Secured Parties
agree that (other than to the extent the Second Lien Documents provide that no Liens will be granted on such assets or as otherwise set forth in the Second Lien Documents), neither the Company nor any of its Subsidiaries shall grant or permit any
additional Liens on any asset to secure any First 

  
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Lien Obligation and no First Lien Secured Party shall hold any Lien on any asset to secure any First Lien Obligation unless the Company or such Subsidiary has granted, or concurrently therewith
grants, a Second Lien on such asset to secure the Second Lien Obligations. To the extent that the provisions of the second preceding sentence are not complied with for any reason, or should any Lien upon any Shared Collateral be released or become
unperfected due to any breach of this Agreement or due to inadvertence, neglect or error by any of the First Lien Secured Parties, the Company or any other Grantor, without limiting any other right or remedy available to the First Lien Secured
Parties, the Second Lien Secured Parties agree that (i) the Second Lien Secured Parties shall be deemed to hold and have held such Lien for the benefit of the First Lien Secured Parties and (ii) any amounts received by or distributed to
any Second Lien Secured Party pursuant to or as a result of any Lien granted in contravention of this Section 2.04(a), or as a result of such a release or lack of perfection, shall be deemed to be
Proceeds and subject to Sections 4.01 and 4.02. 
 (b)    Until a Discharge of First Lien
Obligations, to the extent the Company or any other Grantor or any of their respective Subsidiaries grants or permits any of the Second Lien Secured Parties any right or remedy with respect to the Shared Collateral that has not also been granted or
permitted to the First Lien Secured Parties, (i) such Second Lien Secured Party shall be required to exercise such right or remedy at the direction of the First Lien Collateral Trustee and (ii) any exercise of such right or remedy by such
Second Lien Secured Party shall be for the benefit of the First Lien Secured Parties pursuant to and in accordance with the terms of this Agreement. 

Section 2.05 Perfection of Liens. Except for the limited agreements of the First Lien Collateral Trustee pursuant to
Section 5.05 hereof, none of the First Lien Secured Parties shall be responsible for perfecting or maintaining the perfection of Liens with respect to any Shared Collateral for the benefit of any of the
Second Lien Secured Parties. The provisions of this Agreement are intended solely to govern the respective Lien priorities as between the First Lien Secured Parties, on the one hand, and the Second Lien Secured Parties, on the other hand, and shall
not impose on any of the First Lien Secured Parties, the Second Lien Secured Parties or any agent or trustee therefor any obligations in respect of the disposition of Proceeds of any Shared Collateral which would conflict with prior perfected claims
therein in favor of any other Person or any order or decree of any court or governmental authority or any applicable law. 

Section 2.06 Certain Cash Collateral. Notwithstanding anything in this Agreement or any Secured Debt Document to the contrary,
collateral consisting of cash and cash equivalents pledged to secure First Lien Obligations consisting of reimbursement obligations in respect of letters of credit or to cash collateralize outstanding letters of credit and held by any First Lien
Secured Party and which cash and cash equivalents do not secure any other First Lien Obligations shall be applied as specified in the applicable First Lien Documents, will not constitute Shared Collateral and will not be subject to the provisions of
Section 2.04. 
 Section 2.07.    Similar Liens and
Agreements. Except as provided in Section 2.06, the Representatives, on behalf of the Secured Parties for the Series of Secured Debt for which it is acting, agree that it is their intention that
Collateral securing each Series of Secured Debt be identical. In furtherance of the foregoing, the parties hereto agree, subject to the other provisions of this Agreement: 

(a) upon request by the First Lien Collateral Trustee or the Designated Second Lien Representative, to cooperate in good faith from time to
time in order to determine the specific items of Collateral and the steps taken to perfect their respective Liens thereon; and 

  
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 (b) that the documents and agreements creating or evidencing the Collateral and guarantees
for the First Lien Obligations and the Second Lien Obligations, shall be in all material respects the same forms of documents other than with respect to the first lien and second lien nature of the Obligations thereunder. 

ARTICLE III 
 ENFORCEMENT

 Section 3.01 Exercise of Remedies. 

(a)    So long as the Discharge of First Lien Obligations has not occurred, whether or not any Insolvency or Liquidation
Proceeding has been commenced by or against the Company or any other Grantor, (1) none of the Second Lien Secured Parties will (x) exercise or seek to exercise any rights or remedies (including setoff or recoupment) with respect to any
Shared Collateral in respect of the Second Lien Obligations or institute any action or proceeding with respect to such rights or remedies (including any action of foreclosure), (y) contest, protest or object to any foreclosure proceeding or action
brought with respect to the Shared Collateral or any other First Lien Collateral by any First Lien Secured Party in respect of the First Lien Obligations, the exercise of any right by a First Lien Secured Party (or any agent or sub-agent on their behalf) in respect of the First Lien Obligations under any lockbox agreement, control agreement, landlord waiver or bailee’s letter or similar agreement or arrangement to which any First Lien
Secured Party either is a party or may have rights as a third party beneficiary, or any other exercise by any such party of any rights and remedies relating to the Shared Collateral under the First Lien Documents or otherwise in respect of the First
Lien Collateral or the First Lien Obligations, or (z) object to the forbearance by the First Lien Secured Parties from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights or remedies relating to the
Shared Collateral in respect of First Lien Obligations and (2) the First Lien Secured Parties shall have the exclusive right to enforce rights, exercise remedies (including setoff, recoupment and the right to credit bid their debt) and make
determinations regarding the care or preservation of the Shared Collateral, or the release, disposition or restrictions with respect to the Shared Collateral without any consultation with or the consent of any of the Second Lien Secured Parties, and
to incur expenses in connection with the foregoing, and shall have the exclusive right to determine and direct the time, method and place for exercising such right or remedy or conducting any proceeding with respect thereto; provided,
however, that: 
 (i)    in any Insolvency or Liquidation Proceeding commenced by or against the
Company or any other Grantor, any of the Second Lien Secured Parties may file a claim or statement of interest with respect to the Second Lien Obligations; 

(ii)    any of the Second Lien Secured Parties may take any action (not adverse to the prior Liens on the
Shared Collateral securing the First Lien Obligations or the rights of the First Lien Secured Parties to exercise remedies in respect thereof) in order to create, prove, perfect, preserve or protect (but not enforce) its rights in, and perfection
and priority of its Lien on, the Shared Collateral; 

  
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 (iii)    any of the Second Lien Secured Parties may
exercise rights and remedies as unsecured creditors against the Company and any other Grantor in accordance with the terms of the Second Lien Documents and applicable law (so long as such rights and remedies do not violate any provision of this
Agreement); 
 (iv)    any Second Lien Secured Party may file any necessary or appropriate responsive or
defensive pleadings in opposition to any motion, claim, adversary proceeding or other pleading made by any person objecting to or otherwise seeking the disallowance of the claims of the Second Lien Secured Parties or the avoidance of any Second Lien
to the extent not inconsistent with the terms of this Agreement; 
 (v)    from and after the Second Lien
Enforcement Date, the Designated Second Lien Representative may exercise or seek to exercise any rights or remedies (including setoff) with respect to any Shared Collateral in respect of any Second Lien Obligations, or institute any action or
proceeding with respect to such rights or remedies (including any action of foreclosure); and 

(vi)    any of the Second Lien Secured Parties may credit bid on the Shared Collateral in any such sale or
disposition in accordance with Section 363(k) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law; provided that any such “credit bid” shall provide for the payment in full in cash of all the First Lien
Obligations. 
 In exercising rights and remedies with respect to the First Lien Collateral, the First Lien Secured Parties may enforce the
provisions of the First Lien Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their respective sole discretion and without consultation with any of the Second Lien Secured
Parties and regardless of whether any such exercise is adverse to the interest of the Second Lien Secured Parties. Such exercise and enforcement shall include, without limitation, rights of set-off, the rights
of an agent appointed by the First Lien Secured Parties to sell or otherwise dispose of Shared Collateral upon foreclosure, to incur expenses in connection with such sale or disposition and to exercise all the rights and remedies of a secured lender
under the Uniform Commercial Code of any applicable jurisdiction and of a secured creditor under Bankruptcy Laws of any applicable jurisdiction. 

(b)    So long as the Discharge of First Lien Obligations has not occurred, except as expressly provided in the proviso in
clause (2) of Section 3.01(a), each of the Second Lien Secured Parties agrees that it will not, in the context of its role as a secured creditor, take or receive any Shared Collateral or any
Proceeds of Shared Collateral in connection with the exercise of any right or remedy (including setoff or recoupment) with respect to any Shared Collateral in respect of Second Lien Obligations. Without limiting the generality of the foregoing,
unless and until the Discharge of First Lien Obligations has occurred, except as expressly provided in the proviso in clause (2) of Section 3.01(a) the sole right of the Second Lien Secured Parties

  
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with respect to the Shared Collateral is to hold a Lien on the Shared Collateral in respect of Second Lien Obligations pursuant to the Second Lien Documents for the period and to the extent
granted therein and to receive a share of the Proceeds thereof, if any, after the Discharge of First Lien Obligations has occurred. 

(c)    Prior to the Discharge of First Lien Obligations, subject to the proviso in clause (2) of
Section 3.01(a), (i) none of the Second Lien Secured Parties will take any action that would hinder, delay, or interfere with any exercise of remedies undertaken by any First Lien Secured Party with
respect to the Shared Collateral under the First Lien Documents, including any sale, lease, exchange, transfer or other disposition of the Shared Collateral, whether by foreclosure or otherwise, and (ii) each of the Second Lien Secured Parties
will waive any and all rights it may have as a junior lien creditor or otherwise to object to the manner in which the First Lien Secured Parties seek to enforce or collect the First Lien Obligations or the Liens granted on any of the First Lien
Collateral, regardless of whether any action or failure to act by or on behalf of any First Lien Secured Party is adverse to the interests of the Second Lien Secured Parties. 

(d)    Each of the Second Lien Secured Parties hereby acknowledges and agrees that no covenant, agreement or restriction
contained in any Second Lien Document shall be deemed to restrict in any way the rights and remedies of the First Lien Secured Parties with respect to the First Lien Collateral as set forth in this Agreement and the First Lien Documents. 

(e)    Subject to Section 3.01(a), prior to the Discharge of First Lien
Obligations, the First Lien Collateral Trustee shall have the exclusive right to exercise any right or remedy with respect to the Shared Collateral and shall have the exclusive right to determine and direct the time, method and place for exercising
such right or remedy or conducting any proceeding with respect thereto. Following the Discharge of First Lien Obligations, the Designated Second Lien Representative who may be instructed by the Second Lien Majority Representatives shall have the
exclusive right to exercise any right or remedy with respect to the Collateral, and the Designated Second Lien Representative who may be instructed by the Second Lien Majority Representatives shall have the exclusive right to direct the time, method
and place of exercising or conducting any proceeding for the exercise of any right or remedy available to the Second Lien Secured Parties with respect to the Collateral, or of exercising or directing the exercise of any trust or power conferred on
the Second Lien Representatives, or for the taking of any other action authorized by the Second Lien Security Documents; provided, however, that nothing in this Section shall impair the right of any Second Lien Representative or other
agent or trustee acting on behalf of the Second Lien Secured Parties to take such actions with respect to the Collateral after the Discharge of the First Lien Obligations as may be otherwise required or authorized pursuant to any intercreditor
agreement governing the Second Lien Secured Parties or the Second Lien Obligations. 
 Section 3.02 Cooperation. Subject to the
proviso in clause (2) of Section 3.01(a), each of the Second Lien Secured Parties agrees that, unless and until the Discharge of First Lien Obligations has occurred, it will not commence, or join
with any Person (other than the First Lien Secured Parties in each case upon the request of the First Lien Collateral Trustee) in commencing, any enforcement, collection, execution, levy or foreclosure action or proceeding with respect to any Lien
held by it in the Shared Collateral under any of the Second Lien Documents or otherwise in respect of the Second Lien Obligations. 

  
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 Section 3.03 Actions upon Breach. Should any Second Lien Secured Party, contrary
to this Agreement, in any way take, attempt to take or threaten to take any action with respect to any Shared Collateral (including any attempt to realize upon or enforce any remedy with respect to this Agreement) or fail to take any action required
by this Agreement, this Agreement shall create a rebuttable presumption and admission by such Second Lien Secured Party that any First Lien Secured Party (in its or their own name or in the name of the Company or any other Grantor) or the Company
may obtain (and any First Lien Secured Party may obtain) relief against such Second Lien Secured Party by injunction, specific performance or other appropriate equitable relief. The Second Lien Secured Parties hereby (i) agree that the First
Lien Secured Parties’ damages from the actions of any Second Lien Secured Party may at that time be difficult to ascertain and may be irreparable and waive any defense that the Company, any other Grantor or the First Lien Secured Parties cannot
demonstrate damage or be made whole by the awarding of damages and (ii) irrevocably waive any defense based on the adequacy of a remedy at law and any other defense that might be asserted to bar the remedy of specific performance in any action
that may be brought by any First Lien Secured Party. 
 ARTICLE IV 

PAYMENTS 

Section 4.01 Application of Proceeds. 

(a)     Prior to the Discharge of First Lien Obligations, and regardless of whether an Insolvency or Liquidation Proceeding
has been commenced, Shared Collateral or Proceeds of Shared Collateral received in connection with the enforcement or exercise of any rights or remedies with respect to any portion of the Shared Collateral will be applied: 

(i)    first, to the payment in full in cash of all First Lien Obligations in accordance with the
Collateral Trust Agreement, 
 (ii)    second, to the payment in full in cash of all Second Lien
Obligations, and 
 (iii)    third, to the Company or as otherwise required by applicable law.

 (b)    Any Shared Collateral or Proceeds of Shared Collateral received by any First Lien Secured Party or Second Lien
Secured Party on account of its secured claim in connection with any Insolvency or Liquidation Proceeding shall be deemed to be the result of an exercise of remedies. 

(c)    Any non-cash Shared Collateral or
non-cash Proceeds of Shared Collateral received by a Second Lien Representative shall be paid over or otherwise turned over to the First Lien Collateral Trustee promptly following such receipt to be held by
the First Lien Collateral Trustee as Shared Collateral, unless such turnover would be commercially unreasonable. 
 Section 4.02
Payments Over. Unless and until the Discharge of First Lien Obligations, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against the Company or any other Grantor, any Shared Collateral or Proceeds of Shared
Collateral upon the exercise of remedies received by any Second Lien Secured Party in connection 

  
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with the exercise of any right or remedy (including setoff or recoupment) relating to the Shared Collateral, in contravention of this Agreement or otherwise, shall be segregated and held in trust
for the benefit of and forthwith paid over to the First Lien Collateral Trustee for the benefit of the First Lien Secured Parties in the same form as received, with any necessary endorsements, or as a court of competent jurisdiction may otherwise
direct. Any Shared Collateral or Proceeds received by any Second Lien Secured Party on account of its secured claim in connection with any Insolvency or Liquidation Proceeding shall be deemed to be the result of an exercise of remedies. The First
Lien Collateral Trustee is hereby authorized to make any such endorsements as agent for each of the Second Lien Secured Parties. This authorization is coupled with an interest and is irrevocable. 

ARTICLE V 
 OTHER
AGREEMENTS 
 Section 5.01 Releases. 

(a)    The Second Lien Secured Parties agree that prior to the Discharge of First Lien Obligations, (1) if in
connection with any exercise of the First Lien Collateral Trustee’s rights or remedies in respect of the Shared Collateral, the First Lien Collateral Trustee, for itself or on behalf of any of the First Lien Secured Parties, releases any of its
Liens on any part of the Shared Collateral, then the Liens, if any, of or for the benefit of the Second Lien Secured Parties on such Shared Collateral shall be automatically, unconditionally and simultaneously released, (2) if in connection
with any exercise of the First Lien Collateral Trustee’s remedies, in each case prior to the Discharge of First Lien Obligations, the equity interests of any Person are foreclosed upon or otherwise disposed of and the First Lien Collateral
Trustee releases its Lien on the property or assets of such Person, then the Liens of or for the benefit of the Second Lien Secured Parties with respect to the property or assets of such Person will be automatically released to the same extent as
the Liens of the First Lien Collateral Trustee and (3) in the event of a sale, transfer or other disposition of any specified item of Shared Collateral (including all or substantially all of the equity interests of any Subsidiary of the
Company) other than a release granted upon or following the Discharge of First Lien Obligations or in accordance with clauses (1) or (2) above, the Liens granted to or for the benefit of the Second Lien Secured Parties upon such Shared
Collateral to secure the Second Lien Obligations shall terminate and be released, automatically and without any further action, concurrently with the termination and release of all Liens granted upon such Shared Collateral to secure First Lien
Obligations; provided that, in the case of each of clauses (1), (2) and (3), the Second Liens on such Shared Collateral shall attach to (and shall remain subject and subordinate to all First Lien Obligations) any Proceeds of a sale, transfer
or other disposition of Shared Collateral or equity interests of any Person not paid to the First Lien Secured Parties or that remain after the Discharge of First Lien Obligations. Promptly upon delivery to any Second Lien Representative of a
certificate from the First Lien Collateral Trustee or a Grantor stating that any such termination and release of Liens securing the First Lien Obligations will occur, such Second Lien Representative, for itself or on behalf of any Second Lien
Secured Parties represented by it, shall execute and deliver, at the Company’s or the other Grantor’s sole cost and expense and without any representation or warranty, to the First Lien Collateral Trustee or such Grantor such termination
statements, releases and other documents (including documents which are corresponding second lien versions of termination statements, releases and other documents that the First Lien Collateral Trustee delivers under the First Lien

  
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Documents to the extent applicable) so as to confirm the foregoing releases referred to in clauses (1), (2), and (3) of the first sentence of this clause (a) when such releases occur.
Nothing in this Section 5.01(a) will be deemed to affect any agreement of the Second Lien Secured Parties to release the Liens on the Second Lien Collateral as set forth in the relevant Second Lien
Security Documents. 
 (b)    Until the Discharge of First Lien Obligations has occurred, each of the Second Lien
Secured Parties hereby irrevocably constitutes and appoints (but subject to Section 5.06) the First Lien Collateral Trustee and any officer or agent of the First Lien Collateral Trustee with full power
of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of the Second Lien Secured Parties or in the
First Lien Collateral Trustee’s own name, from time to time in the First Lien Collateral Trustee’s discretion, for the purpose of carrying out the terms of Section 5.01(a), to take any and all
appropriate action and to execute any and all documents and instruments that may be necessary or desirable to accomplish the purposes of Section 5.01(a), including any termination statements,
endorsements or other instruments of transfer or release. 
 (c)    Unless and until the Discharge of First Lien
Obligations has occurred, each of the Second Lien Secured Parties hereby consents to the application, whether prior to or after an event of default under any First Lien Document, of Proceeds to the repayment of First Lien Obligations pursuant to the
First Lien Documents; provided that nothing in this Section 5.01(c) shall be construed to prevent or impair the rights of the Second Lien Secured Parties to receive Proceeds in connection with
the Second Lien Obligations not otherwise in contravention of this Agreement. 
 (d)    Notwithstanding anything to the
contrary in any Second Lien Security Document, in the event that prior to the Discharge of First Lien Obligations the terms of a First Lien Security Document, on the one hand, and a Second Lien Security Document, on the other hand, each require any
Grantor (i) to make payment in respect of any item of Shared Collateral, (ii) to deliver or afford control over any item of Shared Collateral to, or deposit any item of Shared Collateral with, (iii) to register ownership of any item
of Shared Collateral in the name of or make an assignment of ownership of any Shared Collateral or the rights thereunder to, (iv) cause any securities intermediary, commodity intermediary or other Person acting in a similar capacity to agree to
comply, in respect of any item of Shared Collateral, with instructions or orders from, or to treat, in respect of any item of Shared Collateral, as the entitlement holder, (v) hold any item of Shared Collateral in trust for (to the extent such
item of Shared Collateral cannot be held in trust for multiple parties under applicable law), (vi) obtain the agreement of a bailee or other third party to hold any item of Shared Collateral for the benefit of or subject to the control of or, in
respect of any item of Shared Collateral, to follow the instructions of or (vii) obtain the agreement of a landlord with respect to access to leased premises where any item of Shared Collateral is located or waivers or subordination of rights
with respect to any item of Shared Collateral in favor of, in any case, both the First Lien Collateral Trustee, on the one hand, and the Designated Second Lien Representative, on the other hand, such Grantor may, until the Discharge of First Lien
Obligations has occurred, comply with such requirement under the Second Lien Security Document as it relates to such Shared Collateral by taking any of the actions set forth above only with respect to, or in favor of, the First Lien Collateral
Trustee; provided that, to the extent control agreements or arrangements are entered into over deposit accounts or 

  
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securities accounts consisting of Shared Collateral, the Designated Second Lien Representative shall be a party to such agreements and arrangements. Until the Discharge of First Lien Obligations
occurs, to the extent that any First Lien Secured Parties (A) have released any Lien on Shared Collateral or any Grantor from its obligation under its guaranty and any such Liens or guaranty are later reinstated or (B) obtain any new liens
or additional guarantees from any Grantor, then the Second Lien Collateral Agent, for itself and for the benefit of the Second Lien Secured Parties, shall be granted a Lien on any such Shared Collateral, subject to the lien subordination provisions
of this Agreement and Section 2.04 hereof, and the Second Lien Collateral Agent, for itself and for the benefit of the Second Lien Secured Parties, shall be granted an additional guaranty, as the case
may be. 
 Section 5.02 Insurance and Condemnation Awards. 

(a)    Prior to the Discharge of First Lien Obligations, subject to the rights of the Grantors under, and to the extent
required by, the First Lien Documents, the First Lien Secured Parties have the right to be named as additional insureds and lender loss payees on insurance policies, maintained from time to time by any Grantor and, so long as the Discharge of First
Lien Obligations has not occurred, the sole right to adjust settlement for any insurance policy covering the Shared Collateral in the event of loss, and to approve any condemnation award. Prior to the Discharge of First Lien Obligations, subject to
the rights of the Grantors under, and to the extent required by, the Second Lien Documents, the Second Lien Secured Parties may be added as additional insureds and lender loss payees on insurance policies, subject to the rights of the First Lien
Secured Parties. In connection therewith and so long as the Discharge of First Lien Obligations has not occurred, the Second Lien Secured Parties shall agree to execute such documentation to disclaim any interest in the proceeds or as requested by
the First Lien Secured Parties necessary or desirable for the First Lien Secured Parties to enable the First Lien Secured Parties to adjust settlement for any such insurance policy or to approve any condemnation award or otherwise to exercise their
rights in such policies and proceeds and the First Lien Collateral Trustee is granted a power of attorney coupled with an interest, which power of attorney is irrevocable, to execute any such documentation on behalf of the Second Lien Secured
Parties. 
 (b)    All proceeds of any such insurance policy and any such award, if in respect of the Shared Collateral,
shall be paid (i) first, prior to the occurrence of the Discharge of First Lien Obligations, to the First Lien Collateral Trustee for the benefit of the First Lien Secured Parties pursuant to the terms and on the conditions of the
Collateral Trust Agreement and, subsequently, the First Lien Documents, (ii) second, following the occurrence of the Discharge of First Lien Obligations but prior to the Discharge of Second Lien Obligations, to the Designated Second Lien
Representative for the benefit of the Second Lien Secured Parties pursuant to the terms and on the conditions of the applicable Second Lien Documents, (iii) third, after the occurrence of the Discharge of First Lien Obligations and the
Discharge of Second Lien Obligations, then to the owner of the subject property, such other Person as may be entitled thereto or as a court of competent jurisdiction may otherwise direct. If prior to the Discharge of First Lien Obligations the
Second Lien Collateral Agent or any Second Lien Secured Party shall, at any time, receive any proceeds of any such insurance policy or any such award in contravention of this Agreement, it shall pay such proceeds over to the First Lien Collateral
Trustee in accordance with the terms of Section 4.02(a). 

  
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 Section 5.03 Amendments to Debt Documents. 

(a)    The First Lien Documents may be amended, restated, supplemented or otherwise modified in accordance with their
terms, and the Indebtedness under the First Lien Documents may be Refinanced, in each case, without the consent of any Second Lien Secured Party; provided, however, that, without the consent of the Designated Second Lien
Representative, no such amendment, restatement, supplement, modification or Refinancing (or successive amendments, restatements, supplements, modifications or Refinancings) shall contravene any provision of this Agreement or any Secured Debt
Document. The First Lien Collateral Trustee may rely on a certificate of the Company stating that such amendment, restatement, supplement or other modification does not contravene any Secured Debt Document. 

(b)    The Second Lien Documents may be amended, restated, supplemented or otherwise modified in accordance with their
terms, and the Indebtedness under the Second Lien Documents may be Refinanced, in each case, without the consent of any First Lien Secured Party; provided, however, that, without the consent of the First Lien Collateral Trustee, no
such amendment, restatement, supplement, modification or Refinancing (or successive amendments, restatements, supplements, modifications or Refinancings) shall contravene any provision of this Agreement or any Secured Debt Document. The Designated
Second Lien Representative may rely on a certificate of the Company stating that such amendment, restatement, supplement or other modification does not contravene any Secured Debt Document. 

(c)    Each of the Second Lien Secured Parties agrees that each Second Lien Security Document entered into after the date
hereof shall include, and the Grantors agree to cause each such Second Lien Security Document to include, the following language (or language to similar effect approved by the First Lien Collateral Trustee): 

“Notwithstanding anything herein to the contrary, (i) the priority of the liens and security interests granted to the Second Lien
Representative pursuant to this Agreement are expressly subject and subordinate to the priority of the liens and security interests granted in favor of the First Lien Secured Parties (as defined in the Intercreditor Agreement referred to below) and
(ii) the exercise of any right or remedy by the Second Lien Representative hereunder is subject to the limitations and provisions of the Amended and Restated Intercreditor Agreement dated as of August 17, 2020 (as amended, restated,
supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), among Wilmington Trust, National Association, as First Lien Collateral Trustee, U.S. Bank National Association, as Second Lien Collateral
Agent, the other Representatives from time to time party thereto, the Company and its subsidiaries party thereto. In the event of any conflict between the terms of the Intercreditor Agreement and the terms of this Agreement with respect to the
priority of the liens and security interests granted to the Second Lien Representative or the exercise of any rights or remedies of the Second Lien Representative, the terms of the Intercreditor Agreement shall govern.” 

(d)    In the event that any of the First Lien Secured Parties enters into any amendment, waiver or consent in respect of
any of the First Lien Security Documents for the 

  
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purpose of adding to or deleting from, or waiving or consenting to any departures from any provisions of, any First Lien Security Document or changing in any manner the rights of the First Lien
Secured Parties, the Company or any other Grantor thereunder in a manner that is applicable to the First Lien Obligations, then such amendment, waiver or consent shall apply automatically to any comparable provision of each comparable Second Lien
Security Document without the consent of any Second Lien Secured Party, the Company or any other Grantor and without any action by any Second Lien Secured Party, the Company or any other Grantor; provided, however, that (i) no
such amendment, waiver or consent shall (A) remove assets subject to the Second Liens or release any such Liens, except to the extent that such release is permitted or required by Section 5.01(a)
and provided that there is a concurrent release of the corresponding First Liens or (B) amend, modify or otherwise affect the rights or duties of the Second Lien Collateral Agent in its role as Second Lien Collateral Agent in a manner
materially adverse to it without its prior written consent and (ii) written notice of such amendment, waiver or consent shall have been given to the Second Lien Collateral Agent promptly after the effectiveness of such amendment, waiver or
consent (it being understood that the failure to deliver such notice shall not impair the effectiveness of any such amendment, waiver or consent). 

(e)    Upon the request of the First Lien Collateral Trustee or the Designated Second Lien Representative, the Company
agrees to deliver to each of the First Lien Collateral Trustee or the Designated Second Lien Representative copies of (i) any amendments, supplements or other modifications to the First Lien Documents or the Second Lien Documents and
(ii) any new First Lien Documents or Second Lien Documents promptly after effectiveness thereof. 
 Section 5.04 Rights as
Unsecured Creditors. 
 (a)    The Second Lien Secured Parties may exercise rights and remedies as unsecured
creditors against the Company and any other Grantor in accordance with the terms of the Second Lien Documents and applicable law so long as such rights and remedies do not violate any provision of this Agreement, including, without limitation,
Sections 2.03, 2.04, 3.01, 3.02 and Article VI hereof. Nothing in this Agreement shall prohibit the receipt by any of the Second Lien Secured
Parties of the required payments of principal, premium, if any, interest, fees and other amounts due under the Second Lien Documents, so long as such receipt is not the direct or indirect result of the exercise in contravention of this Agreement by
any Second Lien Secured Party of rights or remedies as a secured creditor in respect of Shared Collateral (including, without limitation, rights of set-off) or is not otherwise in contravention of this
Agreement including, without limitation, Section 5.03(b) hereof. In the event any Second Lien Secured Party becomes a judgment lien creditor in respect of Shared Collateral as a result of its
enforcement of its rights as an unsecured creditor in respect of Second Lien Obligations, such judgment lien shall be subordinated to the Liens securing First Lien Obligations on the same basis as the other Liens securing the Second Lien Obligations
are so subordinated to such Liens securing First Lien Obligations under this Agreement. 
 Section 5.05 Gratuitous Bailee for
Perfection. 
 (a)    The First Lien Collateral Trustee acknowledges and agrees that if it shall at any time hold a
Lien securing any First Lien Obligations on any Shared Collateral that can be perfected by the possession or control of such Shared Collateral or of any account in which such 

  
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Shared Collateral is held, and if such Shared Collateral or any such account is in fact in the possession or under the control of the First Lien Collateral Trustee, or of agents or bailees of
such Person (such Shared Collateral being referred to herein as the “Pledged or Controlled Collateral”), or if it shall at any time obtain any landlord waiver or bailee’s letter or any similar agreement or arrangement
granting it rights or access to Shared Collateral, the First Lien Collateral Trustee shall also hold such Pledged or Controlled Collateral, or take such actions with respect to such landlord waiver, bailee’s letter or similar agreement or
arrangement, as agent, sub-agent or gratuitous bailee for the benefit of, and on behalf of, the Second Lien Secured Parties solely for the purpose of perfecting the Liens granted under the relevant Second Lien
Security Documents and subject to the terms and conditions of this Section 5.05. 

(b)    Except as otherwise specifically provided herein, until the Discharge of First Lien Obligations has occurred, the
First Lien Secured Parties shall be entitled to deal with the Pledged or Controlled Collateral in accordance with the terms of the First Lien Documents as if the Liens under the Second Lien Security Documents did not exist. The rights of the Second
Lien Secured Parties with respect to the Pledged or Controlled Collateral shall at all times be subject to the terms of this Agreement. 

(c)    The First Lien Secured Parties shall have no obligation whatsoever to any Second Lien Secured Party to assure that
any of the Pledged or Controlled Collateral is genuine or owned by the Grantors or to protect or preserve rights or benefits of any Person or any rights pertaining to the Shared Collateral, except as expressly set forth in this
Section 5.05. The duties or responsibilities of the First Lien Collateral Trustee under this Section 5.05 shall be limited solely to holding or controlling
the Shared Collateral and the related Liens referred to in paragraphs (a) and (b) of this Section 5.05 as sub-agent and gratuitous bailee for the Second Lien
Secured Parties for purposes of perfecting the Lien held by the Second Lien Representatives. 
 (d)    The First Lien
Collateral Trustee shall not have by reason of the Second Lien Security Documents or this Agreement, or any other document, a fiduciary relationship in respect of any Second Lien Secured Party, and each of the Second Lien Secured Parties hereby
waives and releases the First Lien Collateral Trustee from all claims and liabilities arising pursuant to the First Lien Collateral Trustee’s roles under this Section 5.05 as sub-agent and gratuitous bailee with respect to the Shared Collateral. 
 (e)    None
of the Second Lien Secured Parties will have any duties or other obligations to any First Lien Secured Party with respect to any Collateral, other than as expressly set forth in this Agreement. 

(f)    None of the First Lien Secured Parties will have any duties or other obligations to any Second Lien Secured Party
with respect to any Collateral, other than as expressly set forth in this Agreement. 
 (g)    Upon the Discharge of
First Lien Obligations, the First Lien Collateral Trustee shall, at the Grantors’ sole cost and expense, and to the extent the Grantors do not pay such expenses, at the sole cost and expense of the Second Lien Secured Parties, (i) (A)
deliver to the Designated Second Lien Representative, to the extent that it is legally permitted to do so, all Shared Collateral, including all Proceeds, held or controlled by the First Lien Collateral Trustee

  
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or any of its agents or bailees, including the transfer of possession and control, as applicable, of the Pledged or Controlled Collateral, together with any necessary endorsements and notices to
depositary banks, securities intermediaries and commodities intermediaries, and assign its rights under any landlord waiver or bailee’s letter or any similar agreement or arrangement granting it rights or access to Shared Collateral, or
(B) direct and deliver such Shared Collateral as a court of competent jurisdiction may otherwise direct, (ii) notify any applicable insurance carrier that it is no longer entitled to be a lender loss payee or additional insured under the
insurance policies of any Grantor issued by such insurance carrier and (iii) notify any governmental authority involved in any condemnation or similar proceeding involving any Grantor that the Designated Second Lien Representative is entitled
to approve any awards granted in such proceeding. The Company and the other Grantors shall take such further action as is required to effectuate the transfer contemplated hereby and shall indemnify the First Lien Collateral Trustee for loss or
damage suffered by the First Lien Collateral Trustee as a result of such transfer, except for loss or damage suffered by any such Person primarily as a result of its own willful misconduct or gross negligence, as determined by a court of competent
jurisdiction in a final, non-appealable judgment. The First Lien Collateral Trustee has no obligations to follow instructions from any Second Lien Secured Party in contravention of this Agreement. 

(h)    Until the Discharge of First Lien Obligations has occurred, each of the Second Lien Secured Parties acknowledges
and agrees that if it shall at any time hold a Lien securing any Second Lien Obligations on any Shared Collateral or of any Pledged or Controlled Collateral, or if it shall at any time obtain any landlord waiver or bailee’s letter or any
similar agreement or arrangement granting it rights or access to Shared Collateral, such Second Lien Secured Party shall also hold such Pledged or Controlled Collateral, or take such actions with respect to such landlord waiver, bailee’s letter
or similar agreement or arrangement, as sub-agent or gratuitous bailee for the First Lien Secured Parties, in each case solely for the purpose of perfecting the Liens granted under the relevant First Lien
Security Documents and subject to the terms and conditions of this Section 5.05. 

(i)    None of the First Lien Secured Parties shall be required to marshal any present or future collateral security for
any obligations of the Company or any Subsidiary to any First Lien Secured Party under the First Lien Documents or any assurance of payment in respect thereof, or to resort to such collateral security or other assurances of payment in any particular
order, and all of their rights in respect of such collateral security or any assurance of payment in respect thereof shall be cumulative and in addition to all other rights, however existing or arising. 

Section 5.06 When Discharge of First Lien Obligations Deemed To Not Have Occurred. If, at any time substantially concurrently with
or after the occurrence of the Discharge of First Lien Obligations, the Company or any Subsidiary consummates any Refinancing of any First Lien Obligations, then such Discharge of First Lien Obligations shall automatically be deemed not to have
occurred for all purposes of this Agreement (other than with respect to any release actions taken prior to the date of such designation as a result of the occurrence of such first Discharge of First Lien Obligations) and the applicable agreement
governing such First Lien Obligations shall automatically be treated as a First Lien Document for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Shared Collateral set forth herein and the
agent, representative or trustee for the holders of such First Lien Obligations 

  
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shall be the First Lien Collateral Trustee for all purposes of this Agreement. Upon receipt of notice from the Company of such incurrence (including the identity of the new First Lien Collateral
Trustee), each Second Lien Representative shall promptly (a) enter into such documents and agreements, including amendments or supplements to this Agreement, as the Company or such new First Lien Collateral Trustee shall reasonably request in
writing in order to provide the new First Lien Collateral Trustee the rights of the First Lien Collateral Trustee contemplated hereby, (b) deliver to such First Lien Collateral Trustee, to the extent that it is legally permitted to do so, all
Shared Collateral, including all proceeds thereof, held or controlled by such Second Lien Representative or any of its agents or bailees, together with any necessary endorsements and notices to depositary banks, securities intermediaries and
commodities intermediaries, and assign its rights under any landlord waiver or bailee’s letter or any similar agreement or arrangement granting it rights or access to Shared Collateral, (c) notify any applicable insurance carrier that it
is no longer entitled to be a lender loss payee or additional insured under the insurance policies of any Grantor issued by such insurance carrier and (d) notify any governmental authority involved in any condemnation or similar proceeding
involving a Grantor that the new First Lien Collateral Trustee is entitled to approve any awards granted in such proceeding; provided that any reasonable costs or other expenses incurred in connection with clauses (a) to (d) above shall
be the exclusive responsibility of the Grantors. 
 Section 5.07 Purchase Right. Without prejudice to the enforcement of the
First Lien Secured Parties’ remedies, the First Lien Secured Parties agree that following (a) the acceleration of the First Lien Obligations or (b) the commencement of an Insolvency or Liquidation Proceeding (each, a
“Purchase Event”), within thirty (30) days of the Purchase Event, one or more of the holders of the Second Lien Debt may request, and the First Lien Secured Parties hereby offer the Second Lien Secured Parties the
option, to purchase all, but not less than all, of the aggregate amount of outstanding First Lien Obligations (including unfunded commitments under any First Lien Document) outstanding at the time of purchase at par, plus any premium that would be
applicable upon prepayment of the First Lien Obligations and accrued and unpaid interest, all interest accrued thereon after the commencement of any Insolvency or Liquidation Proceeding, at the applicable post-default rate and fees (including
(w) breakage costs, (x) in the case of any secured Hedging Obligations, the amount that would be payable by the relevant Grantor thereunder if such Grantor were to terminate the hedge agreement in respect thereof on the date of the
purchase or, if not terminated an amount determined by the relevant First Lien Secured Party to be necessary to collateralize its credit risk arising out of such agreement, (y) if applicable, the cash collateral to be furnished to the First
Lien Secured Parties providing letters of credit under the First Lien Documents in such amounts (not to exceed 105% of the sum of the aggregate undrawn amount of all such letters of credit and the aggregate facing and similar fees which will accrue
thereon through the stated maturity thereof (assuming no drawings thereon before stated maturity)) as such First Lien Secured Party determines is reasonably necessary to secure such First Lien Secured Party in connection therewith, and (z) in
the case of any secured Bank Product Obligations that are First Lien Obligations, the cash collateral to be furnished to the First Lien Secured Parties providing such Bank Products under the First Lien Documents in such amounts, including all
amounts payable as a result of the termination (or early termination) thereof, as such First Lien Secured Party determines is reasonably necessary to secure such First Lien Secured Party in connection therewith), without warranty or representation
or recourse (except for representations and warranties required to be made by assigning lenders pursuant to customary assignment documentation). If such right is exercised, the First Lien Secured Parties and

  
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the Second Lien Secured Parties shall endeavor to close promptly thereafter but in any event within ten (10) Business Days of the request; provided that the foregoing shall not impose upon
the First Lien Collateral Trustee any obligations to the extent it has not received directions to its satisfaction as provided under the Collateral Trust Agreement. If one or more of the Second Lien Secured Parties exercise such purchase right, it
shall be exercised pursuant to documentation mutually acceptable to the First Lien Secured Parties and the purchasing Second Lien Secured Parties. If none of the Second Lien Secured Parties timely exercises such right the First Lien Secured Parties
shall have no further obligations pursuant to this Section 5.07 for such Purchase Event and may take any further actions in their sole discretion in accordance with the First Lien Documents and this
Agreement. Each First Lien Secured Party will retain all rights to indemnification provided in the relevant First Lien Document for all claims and other amounts relating to the period prior to the purchase of the First Lien Obligations pursuant to
this Section 5.07. 
 ARTICLE VI 

INSOLVENCY OR LIQUIDATION PROCEEDINGS. 

Section 6.01 Financing Issues. 

(a)    Until the Discharge of First Lien Obligations has occurred, if the Company or any other Grantor shall be subject to
any Insolvency or Liquidation Proceeding and any First Lien Secured Party shall desire to consent (or not object) to the sale, use or lease of cash or other collateral or to consent (or not object) to the Company’s or any other Grantor’s
obtaining financing under Section 363 or Section 364 of the Bankruptcy Code or any similar provision of any other Bankruptcy Law (“DIP Financing”), then none of the Second Lien Secured Parties will raise any
objection to and will not otherwise contest (1) such sale, use or lease of such cash or other collateral, unless the First Lien Collateral Trustee shall oppose or object to such use of cash collateral (in which case, none of the Second Lien
Secured Parties shall seek any relief in connection therewith that is inconsistent with the relief being sought by the First Lien Collateral Trustee); or (2) such DIP Financing, unless (x) the First Lien Collateral Trustee shall oppose or
object to such DIP Financing, (y) the terms of such DIP Financing provide for the sale of all or substantially all of the First Lien Collateral and/or the Second Lien Collateral prior to any event of default under the documentation providing
for such DIP Financing in connection with the exercise of remedies or require the confirmation of a plan of reorganization containing all or substantially all of the material terms or provisions (other than repayment in cash of such DIP Financing on
the effective date thereof) or (z) the maximum principal amount of indebtedness permitted under such DIP Financing exceeds the sum of (I) the aggregate amount of First Lien Obligations refinanced with the proceeds thereof or otherwise “rolled-up” into such DIP Financing plus (II) an amount equal to ten percent (10%) of the aggregate principal amount of First Lien Obligations and any amount available to be drawn under outstanding
letters of credit and aggregate principal amount of revolving commitments, in each case, under the First Lien Documents as in effect immediately preceding the date of commencement of such Insolvency or Liquidation Proceeding. If such DIP Financing
meets some, but not all, of the foregoing conditions, then each Second Lien Secured Party unconditionally agrees that it will only raise an objection to or contest such DIP Financing based upon the conditions which are not met and will not object,
oppose or contest on any other basis. Except to the extent permitted by Section 6.03, none of the Second Lien Secured Parties will request adequate protection or any other relief in connection

  
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therewith and, to the extent the Liens securing any First Lien Obligations are subordinated to or pari passu with such DIP Financing, will subordinate (and will be deemed hereunder to have
subordinated) its Liens in the Shared Collateral (and in any other assets of the Grantors that may serve as collateral (including avoidance actions, or the proceeds thereof)) to (A) such DIP Financing (and all obligations relating thereto), (B)
any adequate protection Liens provided to the First Lien Secured Parties and (C) any “carve-out” for professional and United States Trustee fees agreed to by the First Lien Collateral Trustee.
The limitation in clause (z) shall not apply to Bank Product Obligations or Hedging Obligations, and Bank Product Obligations and Hedging Obligations shall not count toward such limitation. Until the Discharge of First Lien Obligations has
occurred, none of the Second Lien Secured Parties will raise any objection to and will not otherwise contest: 

(i)    any motion for relief from the automatic stay or from any injunction against foreclosure or
enforcement in respect of First Lien Obligations made by any First Lien Secured Party; 
 (ii)    any
exercise by any First Lien Secured Party of the right to credit bid First Lien Obligations at any sale of First Lien Collateral under Section 363(k) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law; 

(iii)    any other request for judicial relief made in any court by any First Lien Secured Party relating
to the lawful enforcement of any Lien on First Lien Collateral; or 
 (iv)    any order relating to a
sale or other disposition of assets of the Company or any other Grantor to which the First Lien Collateral Trustee has consented or not objected that provides, to the extent such sale or other disposition is to be free and clear of Liens, that the
Liens securing the First Lien Obligations and the Second Lien Obligations will attach to the proceeds of the sale on the same basis of priority as the Liens on the Shared Collateral securing the First Lien Obligations rank to the Liens on the Shared
Collateral securing the Second Lien Obligations pursuant to this Agreement. 
 (b)    No Second Lien Secured Party may
provide DIP Financing to the Company or any other Grantor secured by Liens equal or senior in priority to the Liens securing any First Lien Obligations; provided that if no First Lien Secured Party offers to provide DIP Financing to the
extent permitted under Section 6.01(a) after the Company provides the First Lien Secured Parties with a reasonable opportunity to provide such DIP Financing (and consults with the First Lien Secured
Parties for a reasonable period of time with respect to such DIP Financing), then a Second Lien Secured Party may seek, following such period, to provide such DIP Financing secured by Liens equal or senior in priority to the Liens securing any First
Lien Obligations, and the First Lien Secured Parties may not object thereto; provided, further, that such DIP Financing may not “roll-up” or otherwise include or refinance any pre-petition Second Lien Obligations. 
 (c)    The Second Lien Secured Parties agree
that notice received two Business Days prior to the entry of an order approving such usage of cash or other collateral or approving such DIP Financing shall be adequate notice. 

  
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 Section 6.02 Relief from the Automatic Stay. Until the Discharge of First Lien
Obligations has occurred, each of the Second Lien Secured Parties agrees that none of them shall seek relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding or take any action in derogation thereof, in each case
in respect of any Shared Collateral, without the prior written consent of the First Lien Collateral Trustee. 
 Section 6.03
Adequate Protection. 
 (a)    Each of the Second Lien Secured Parties agrees that, until the Discharge of First
Lien Obligations has occurred, none of them shall: 
 (i)    object, contest or support any other Person
objecting to or contesting (x) any request by any First Lien Secured Party for adequate protection, (y) any objection by any First Lien Secured Party to any motion, relief, action or proceeding based on any First Lien Secured Party’s
claiming a lack of adequate protection or (z) the payment of interest, fees, expenses or other amounts of any First Lien Secured Party under Section 506(b) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law; or

 (ii)    assert or support any claim for costs or expenses of preserving or disposing of any Second
Lien Collateral under Section 506(c) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law. 

(b)    Notwithstanding anything contained in this Article VI, until the Discharge of First Lien Obligations,
in any Insolvency or Liquidation Proceeding: 
 (i)    if the First Lien Secured Parties (or any subset
thereof) are granted adequate protection in the form of a Lien on additional or replacement collateral in connection with any DIP Financing or use of cash collateral under Section 363 or 364 of the Bankruptcy Code or any similar provision of
any other Bankruptcy Law, then the Designated Second Lien Representative, for itself and on behalf of each Second Lien Secured Party may seek or request adequate protection in the form of a Lien on such additional or replacement collateral, which
Lien is subordinated to the Liens securing and providing adequate protection for all First Lien Obligations and such DIP Financing (and all obligations relating thereto) on the same basis as the other Liens securing the Second Lien Obligations are
so subordinated to the Liens securing First Lien Obligations under this Agreement; and 
 (ii)    in the
event any Second Lien Secured Party seeks or requests adequate protection and such adequate protection is granted (in each instance, to the extent such grant is otherwise permissible under the terms and conditions of this Agreement) in the form of a
Lien on additional or replacement collateral, then the First Lien Collateral Trustee shall also be granted a senior Lien on such additional or replacement collateral as security and adequate protection for the First Lien Obligations and any such DIP
Financing and any Lien on such additional or replacement collateral securing or providing adequate protection for the Second Lien Obligations shall be subordinated to the Liens on such collateral securing the First Lien Obligations and any such DIP
Financing (and all obligations 

  
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relating thereto) and any other Liens granted to the First Lien Secured Parties as adequate protection on the same basis as the other Liens securing the Second Lien Obligations are so
subordinated to the Liens securing First Lien Obligations under this Agreement. 
 Section 6.04 Avoidance Issues. If any First
Lien Secured Party is required in any Insolvency or Liquidation Proceeding or otherwise to disgorge, turn over or otherwise pay any amount to the estate of the Company or any other Grantor (or any trustee, receiver or similar Person therefor),
because the payment of such amount was declared to be or avoided as fraudulent or preferential in any respect or for any other reason, any amount (a “Recovery”), whether received as proceeds of security, enforcement of any
right of setoff, recoupment or otherwise, then the First Lien Obligations shall be reinstated to the extent of such Recovery and deemed to be outstanding as if such payment had not occurred and the First Lien Secured Parties shall be entitled to the
benefits of this Agreement with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish,
release, discharge, impair or otherwise affect the obligations of the parties hereto. The Second Lien Secured Parties hereby agree that none of them shall be entitled to benefit from any avoidance action affecting or otherwise relating to any
distribution or allocation made in accordance with this Agreement, whether by preference or otherwise, it being understood and agreed that the benefit of such avoidance action otherwise allocable to them shall instead be treated as Proceeds and
allocated and turned over for application in accordance with the priorities set forth in this Agreement. This Section 6.04 shall survive termination of this Agreement. 

Section 6.05 Separate Grants of Security and Separate Classifications. The Second Lien Secured Parties each hereby acknowledge and
agree that (a) the grants of Liens by the Company and the other Grantors pursuant to the First Lien Security Documents and the Second Lien Security Documents constitute separate and distinct grants of Liens and (b) because of, among other
things, their differing rights in the Shared Collateral, the Second Lien Obligations are fundamentally different from the First Lien Obligations, and must each be separately classified in any plan of reorganization or similar dispositive
restructuring plan proposed, confirmed, or adopted in an Insolvency or Liquidation Proceeding. If it is held that any claims of the First Lien Secured Parties and/or the Second Lien Secured Parties in respect of the Shared Collateral constitute a
single class of claims (rather than separate classes of senior and junior secured claims), then each of the Second Lien Secured Parties acknowledges and agrees that all distributions shall be made as if there were separate classes of senior and
junior secured claims against the Grantors in respect of the Shared Collateral, with the effect being that, to the extent that the aggregate value of the Shared Collateral is sufficient (for this purpose ignoring all claims held by the Second Lien
Secured Parties), the First Lien Secured Parties and the Second Lien Secured Parties, as applicable, shall be entitled to receive, in addition to amounts distributed to them in respect of principal,
pre-petition interest and other claims, all amounts owing (or that would be owing if there were such separate classes of senior and junior secured claims) in respect of interest accrued thereon after the
commencement of any Insolvency or Liquidation Proceeding and any applicable post-default rate, fees and expenses, before any distribution is made in respect of the Second Lien Obligations, and any Second Lien Secured Party shall turn over to the
First Lien Collateral Trustee amounts otherwise received or receivable by them to the extent necessary to effectuate the intent of this sentence, even if such turnover has the effect of reducing the claim or recovery of the Second Lien Secured
Parties. 

  
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 Section 6.06 No Waivers of Rights of Senior Secured Parties. Nothing contained
herein shall, except as expressly provided in this Agreement, prohibit or in any way limit any First Lien Secured Party from objecting in any Insolvency or Liquidation Proceeding or otherwise to any action taken by any Second Lien Secured Party,
including the seeking by any Second Lien Secured Party of adequate protection or the assertion by any Second Lien Secured Party of any of its rights and remedies under the Second Lien Documents or otherwise. 

Section 6.07 Application. This Agreement, which the parties hereto expressly acknowledge is a “subordination agreement”
under Section 510(a) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law, shall be effective before, during and after the commencement of any Insolvency or Liquidation Proceeding. The relative rights as to the Shared
Collateral and Proceeds shall continue after the commencement of any Insolvency or Liquidation Proceeding on the same basis as prior to the date of the petition therefor, subject to any court order approving any DIP Financing for, or use of cash
collateral by, the Company or any other Grantor. All references herein to any Grantor shall include such Grantor as a debtor-in-possession and any receiver or trustee
for such Grantor. 
 Section 6.08 Other Matters. To the extent that any Second Lien Secured Party has or acquires rights under
Section 363 or Section 364 of the Bankruptcy Code or any similar provision of any other Bankruptcy Law with respect to any of the Shared Collateral, such Second Lien Secured Party agrees not to assert any such rights without the prior
written consent of the First Lien Collateral Trustee; provided that if requested by the First Lien Collateral Trustee, such Second Lien Secured Party shall timely exercise such rights in the manner requested by the First Lien Collateral
Trustee, including any rights to payments in respect of such rights. 
 Section 6.09 506(c) Claims. Until the Discharge of First
Lien Obligations has occurred, no Second Lien Secured Party will assert or enforce any claim under Section 506(c) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law senior to or on a parity with the Liens securing the
First Lien Obligations for costs or expenses of preserving or disposing of any Shared Collateral. 
 Section 6.10
Reorganization. 
 (a)    If, in any Insolvency or Liquidation Proceeding, debt obligations of the reorganized
debtor secured by Liens upon any property of the reorganized debtor are distributed, pursuant to a plan of reorganization or similar dispositive restructuring plan, on account of the First Lien Obligations and/or the Second Lien Obligations, then,
to the extent the debt obligations distributed on account of the First Lien Obligations and/or on account of the Second Lien Obligations are secured by Liens upon the same assets or property, the provisions of this Agreement will survive the
distribution of such debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations. 

(b)    None of the Second Lien Secured Parties (whether in the capacity of a secured creditor or an unsecured creditor)
shall propose, vote in favor of, or otherwise directly or 

  
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indirectly support any plan of reorganization or similar dispositive restructuring plan that is inconsistent with the priorities or other provisions of this Agreement, other than (A) with
the prior written consent of the First Lien Collateral Trustee, or (B) to the extent any such plan is proposed or supported by the number of First Lien Secured Parties required under Section 1126(c) of the Bankruptcy Code. 

Section 6.11 Section 1111(b) of the Bankruptcy Code. Until the Discharge of First Lien Obligations has
occurred, none of the Second Lien Secured Parties shall object to, oppose, support any objection, or take any other action to impede, the right of any First Lien Secured Party to make an election under Section 1111(b)(2) of the Bankruptcy Code
or any similar provision of any other Bankruptcy Law. Each Second Lien Secured Party hereby waives any claim it may hereafter have against any First Lien Secured Party arising out of the election by any First Lien Secured Party of the application of
Section 1111(b)(2) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law. 
 Section 6.12 [Reserved].

 Section 6.13 Post-Petition Interest. 

(a)    Until the Discharge of First Lien Obligations has occurred, none of the Second Lien Secured Parties shall oppose or
seek to challenge any claim by any First Lien Secured Party for allowance in any Insolvency or Liquidation Proceeding of First Lien Obligations consisting of interest, fees or expenses accrued thereon after the commencement of any Insolvency or
Liquidation Proceeding, without regard to the existence of the Liens of the Second Lien Representatives, on behalf of the Second Lien Secured Parties. This Agreement expressly is intended to include, and does include the “rule of
explicitness,” and is intended to provide the First Lien Secured Parties with the right to receive payment of all post-petition interest through distributions made pursuant to the provisions of this Agreement even though such post-petition
interest may not be not allowed or allowable against the bankruptcy estate of the Company or any other Grantor under Section 502(b)(2) or Section 506(b) of the Bankruptcy Code or under any other provision of the Bankruptcy Code or any
other Bankruptcy Law. 
 (b)    Until the Discharge of First Lien Obligations has occurred, none of the First Lien
Secured Parties shall oppose or seek to challenge any claim by any Second Lien Secured Party for allowance in any Insolvency or Liquidation Proceeding of Second Lien Obligations consisting of all interest, fees or expenses accrued thereon after the
commencement of any Insolvency or Liquidation Proceeding to the extent of the value of the Liens of the Second Lien Representatives on behalf of the Second Lien Secured Parties. 

ARTICLE VII 
 RELIANCE;
ETC. 
 Section 7.01 Reliance. All loans and other extensions of credit made or deemed made on and after the date hereof by
the First Lien Secured Parties to the Company or any Subsidiary shall be deemed to have been given and made in reliance upon this Agreement. Each of the Second Lien Secured Parties acknowledges that it has, independently and without reliance on any
First Lien Secured Party, entered into the Second Lien Documents to which it is party or by 

  
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which it is bound, this Agreement and the transactions contemplated hereby and thereby, and in taking or not taking any action under the Second Lien Documents or this Agreement they will continue
to do so independently and without reliance on any First Lien Secured Party. 
 Section 7.02 No Warranties or Liability. 

(a)    Each Second Lien Secured Party acknowledges that no First Lien Secured Party has made any express or implied
representation or warranty, including with respect to the execution, validity, legality, completeness, collectability or enforceability of any of the First Lien Documents, the ownership of any Shared Collateral or the perfection or priority of any
Liens thereon. The First Lien Secured Parties will be entitled to manage and supervise their respective loans and extensions of credit under the First Lien Documents in accordance with law and as they may otherwise, in their sole discretion, deem
appropriate, and the First Lien Secured Parties may manage their loans and extensions of credit without regard to any rights or interests that the Second Lien Secured Parties have in the Shared Collateral or otherwise, except as otherwise provided
in this Agreement. No First Lien Secured Party shall have any duty to any Second Lien Secured Party to act or refrain from acting in a manner that allows, or results in, the occurrence or continuance of a default or an event of default under any
agreement with the Company or any Subsidiary (including the Second Lien Documents), regardless of any knowledge thereof that they may have or be charged with. 

(b)    Except as expressly set forth in this Agreement, the First Lien Secured Parties and the Second Lien Secured Parties
have not otherwise made to each other, nor do they hereby make to each other, any warranties, express or implied, nor do they assume any liability to each other with respect to (i) the enforceability, validity, value or collectability of any of
the First Lien Obligations, the Second Lien Obligations or any guarantee or security which may have been granted to any of them in connection therewith, (ii) any Grantor’s title to or right to transfer any of the Shared Collateral or
(iii) any other matter except as expressly set forth in this Agreement. 
 Section 7.03 Obligations Unconditional. All
rights, interests, agreements and obligations of the First Lien Secured Parties and the Second Lien Secured Parties hereunder shall remain in full force and effect irrespective of: 

(a)    any lack of validity or enforceability of any First Lien Document or any Second Lien Document; 

(b)    any change in the time, manner or place of payment of, or in any other terms of, all or any of the
First Lien Obligations or the Second Lien Obligations, or any amendment or waiver or other modification, including any increase in the amount thereof, whether by course of conduct or otherwise, of the terms of any First Lien Document or the terms of
any Second Lien Document; 
 (c)    any exchange of any security interest in any Shared Collateral or any
other collateral or any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise, of all or any of the First Lien Obligations or Second Lien Obligations or any guarantee thereof; 

  
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 (d)    the commencement of any Insolvency or Liquidation
Proceeding in respect of the Company or any other Grantor; or 
 (e)    any other circumstances that
otherwise might constitute a defense available to (i) the Company or any other Grantor in respect of the First Lien Obligations (other than the Discharge of First Lien Obligations, subject to Sections 5.06 and 6.04),
or (ii) any Second Lien Secured Party in respect of the Second Lien Obligations (other than the Discharge of First Lien Obligations and/or the Discharge of Second Lien Obligations, in each case subject to Sections 5.06 and
6.04). 
 Section 7.04 No Waiver of Lien Priorities. 

(a)    No right of the First Lien Secured Parties or any of them to enforce any provision of this Agreement or any First
Lien Document shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or any other Grantor or by any act or failure to act by any First Lien Secured Party, or by any noncompliance by any Person
with the terms, provisions and covenants of this Agreement, any of the First Lien Documents or any of the Second Lien Documents, regardless of any knowledge thereof which any First Lien Secured Party, or any of them, may have or be otherwise charged
with. 
 (b)    Without in any way limiting the generality of the foregoing paragraph (but subject to the rights of the
Company and the other Grantors under the First Lien Documents and subject to the provisions of Section 5.03(a)), the First Lien Secured Parties and any of them may, at any time and from time to time in
accordance with the First Lien Documents and/or applicable law, without the consent of, or notice to, any Second Lien Secured Party, without incurring any liabilities to any Second Lien Secured Party and without impairing or releasing the Lien
priorities and other benefits provided in this Agreement (even if any right of subrogation or other right or remedy of any Second Lien Secured Party is affected, impaired or extinguished thereby) do any one or more of the following: 

(1)    change the manner, place or terms of payment or change or extend the time of payment of, or amend,
renew, exchange, increase or alter, the terms of any of the First Lien Obligations or any Lien on any Shared Collateral or guaranty of any of the First Lien Obligations or any liability of the Company or any other Grantor, or any liability incurred
directly or indirectly in respect thereof (including any increase in or extension of the First Lien Obligations, without any restriction as to the tenor or terms of any such increase or extension) or otherwise amend, renew, exchange, extend, modify
or supplement in any manner any Liens held by any First Lien Secured Party, the First Lien Obligations or any of the First Lien Documents; 

(2)    sell, exchange, release, surrender, realize upon, enforce or otherwise deal with in any manner and
in any order any part of the Shared Collateral or any liability of the Company or any other Grantor to any of the First Lien Secured Parties, or any liability incurred directly or indirectly in respect thereof; 

  
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 (3)    settle or compromise any First Lien Obligation or
any other liability of the Company or any other Grantor or any security therefor or any liability incurred directly or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any liability (including the First
Lien Obligations) in any manner or order; and 
 (4)    exercise or delay in or refrain from exercising
any right or remedy against the Company or any other Grantor or any other Person or any security, and elect any remedy and otherwise deal freely with the Company, any other Grantor or any Shared Collateral and any security and any guarantor or any
liability of the Company or any other Grantor to the First Lien Secured Parties or any liability incurred directly or indirectly in respect thereof. 

(c)    Except as otherwise expressly provided herein, each of the Second Lien Secured Parties agrees that the First Lien
Secured Parties shall have no liability to any such Second Lien Secured Parties, and each of the Second Lien Secured Parties hereby waives any claim against any First Lien Secured Party arising out of any and all actions which the First Lien Secured
Parties or any of them may take or permit or omit to take with respect to: 
 (1)    the First Lien
Documents (other than this Agreement), including, without limitation, any failure to perfect or obtain perfected security interests in the Shared Collateral; 

(2)    the collection of the First Lien Obligations; or 

(3)    the foreclosure upon, or sale, liquidation or other disposition of, any Shared Collateral. 

Each of the Second Lien Secured Parties agrees that the First Lien Secured Parties have no duty to them in respect of the maintenance or
preservation of the Shared Collateral, the First Lien Obligations or otherwise. 
 Until the Discharge of First Lien Obligations, each of
the Second Lien Secured Parties agrees not to assert and hereby waives, to the fullest extent permitted by law, any right to demand, request, plead or otherwise assert or otherwise claim the benefit of, any marshaling, appraisal, valuation or other
similar right that may otherwise be available under applicable law with respect to any Shared Collateral or any other similar rights a junior secured creditor may have under applicable law. 

None of the First Lien Secured Parties nor any of their respective directors, officers, employees or agents will be liable for failure to
demand, collect or realize upon any of the Shared Collateral or for any delay in doing so, or will be under any obligation to sell or otherwise dispose of any Shared Collateral upon the request of any Grantor or upon the request of the Second Lien
Collateral Agent, any other Second Lien Secured Party or any other Person or to take any other action whatsoever with regard to the Shared Collateral or any part thereof. Without limiting the foregoing, each Second Lien Secured Party agrees that no
First Lien Secured Party shall have any duty or obligation to realize first upon any type of Shared Collateral or to sell or otherwise dispose of all or any portion of the Shared Collateral in any manner, including

  
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as a result of the application of the principles of marshaling or otherwise, that would maximize the return to any First Lien Secured Parties or any Second Lien Secured Parties, notwithstanding
that the order and timing of any such realization, sale or other disposition may affect the amount of proceeds actually received by such Persons from such realization, sale or other disposition. 

ARTICLE VIII 

MISCELLANEOUS 

Section 8.01 Conflicts. 

(a)    In the event of any conflict between the provisions of this Agreement and the provisions of any First Lien Document
or any Second Lien Document, the provisions of this Agreement shall govern. Notwithstanding the foregoing, (i) the relative rights and obligations of the First Lien Secured Parties (solely as amongst themselves) shall be governed by the terms
of the Collateral Trust Agreement and (ii) the relative rights and obligations of the Second Lien Secured Parties (solely as amongst themselves) shall be governed by the terms of an intercreditor agreement governing the rights and obligations
of such Second Lien Secured Parties solely amongst themselves. 
 (b)    The Secured Parties acknowledge that
(i) the secured creditor relationship between different classes of First Lien Obligations may be governed separately from this Agreement and (ii) the secured creditor relationship between different classes of Second Lien Obligations may be
governed separately from this Agreement. 
 Section 8.02 Continuing Nature of this Agreement; Severability. This is a continuing
agreement of Lien subordination, and (x) the First Lien Secured Parties may continue, at any time and without notice to the First Lien Collateral Trustee or any Second Lien Secured Party, to extend credit and other financial accommodations and
lend monies to or for the benefit of the Company or any Subsidiary constituting First Lien Obligations in reliance hereon and (y) the Second Lien Secured Parties may continue, at any time and without notice to any Second Lien Representative or
any First Lien Secured Party, to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any Subsidiary constituting Second Lien Obligations in reliance hereon. The terms of this Agreement shall
survive and continue in full force and effect in any Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. All references to the Company or any other Grantor shall include the Company or such Grantor as
debtor and debtor in possession and any receiver, trustee or similar person for the Company or any other Grantor (as the case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect:

 (a)    subject to the terms and conditions of
Section 5.06 hereof, with respect to the First Lien Collateral Trustee, the First Lien Secured Parties represented by it and their First Lien Obligations, upon the Discharge of First Lien Obligations,
subject to the rights of the First Lien Secured Parties under Section 6.04; and 

  
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 (b)    subject to the terms and conditions of
Section 5.06 hereof, with respect to any Second Lien Representative, the Second Lien Secured Parties represented by it and their Second Lien Obligations, upon the Discharge of Second Lien Obligations,
subject to the rights of the Second Lien Secured Parties under Section 6.04. 

Section 8.03 Amendments; Waivers. 

(a)    No failure or delay on the part of any Secured Party 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 Secured Parties 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 any party therefrom
shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 8.03, and then such waiver or consent shall be effective only in the specific instance and for
the purpose for which given. No notice or demand on any Secured Party in any case shall entitle such Secured Party to any other or further notice or demand in similar or other circumstances. 

(b)    This Agreement may be amended in writing signed by the First Lien Collateral Trustee and the Designated Second Lien
Representative (in each case, acting in accordance with the documents governing the applicable Indebtedness); provided that any such amendment, supplement or waiver which by the terms of this Agreement requires the Company’s consent or
which materially adversely affects the Company or any other Grantor, shall require the consent of the Company. Any such amendment, supplement or waiver shall be in writing and shall be binding upon the First Lien Secured Parties and the Second Lien
Secured Parties and their respective successors and assigns. Notwithstanding the provisions of any other First Lien Document or Second Lien Document, the First Lien Collateral Trustee and the Designated Second Lien Representative may, with the
consent of the Grantors for any amendments, restatements, amendment and restatements, supplements or other modifications that directly and materially adversely affect any Grantor, make any amendments, restatements, amendment and restatements,
supplements or other modifications to this Agreement to correct any ambiguity, defect or inconsistency contained herein without the consent of any other Person. 

(c)    Notwithstanding the foregoing, without the consent of any Secured Party (and with respect to any amendment or
modification which by the terms of this Agreement requires the Company’s consent, with the consent of the Company), any Second Lien Representative may become a party hereto by execution and delivery of a Joinder Agreement in accordance with
Section 8.09 of this Agreement and upon such execution and delivery, such Second Lien Representative and the Second Lien Secured Parties and Second Lien Obligations for which such Second Lien
Representative is acting shall be subject to the terms hereof. 
 (d)    Notwithstanding anything in this Agreement to
the contrary, it is understood and agreed that the First Lien Collateral Trustee and each Second Lien Representative, 

  
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without the consent of any other First Lien Secured Party or Second Lien Secured Party, may enter into a supplemental agreement (which may take the form of an amendment and restatement of this
Agreement) (i) to facilitate having Additional First Lien Debt or additional Second Lien Debt or other obligations of any of the Grantors become First Lien Obligations or Second Lien Obligations, as the case may be, under this Agreement or
(ii) to give effect to any amendments in connection with a Refinancing of First Lien Obligations or Second Lien Obligations, as applicable; provided that any such supplemental agreement is not prohibited by the First Lien Documents
and/or Second Lien Documents then-existing in accordance with the terms thereof and an Officers’ Certificate of the Company is delivered to the First Lien Collateral Trustee and each Second Lien Representative (as applicable) certifying such
compliance, which shall be conclusive and the First Lien Collateral Trustee and each Second Lien Representative (as applicable) may rely thereon without further inquiry and shall be fully protected in doing so. 

Section 8.04 Information Concerning Financial Condition of the Company and the Subsidiaries. None of the First Lien Secured
Parties or the Second Lien Secured Parties shall have any duty to inform the other parties of (a) the financial condition of the Company and its Subsidiaries and all endorsers or guarantors of the First Lien Obligations or the Second Lien
Obligations or (b) any other circumstances bearing upon the risk of nonpayment of the First Lien Obligations or the Second Lien Obligations. The First Lien Secured Parties and the Second Lien Secured Parties shall have no duty to advise any
Secured Party of information known to it or them regarding such condition or any such circumstances or otherwise. In the event that any First Lien Secured Party or any Second Lien Secured Party, in its sole discretion, undertakes at any time or from
time to time to provide any such information to any other Secured Party, it shall be under no obligation to (i) make, and the First Lien Secured Parties and the Second Lien Secured Parties shall not make or be deemed to have made, any express
or implied representation or warranty, including with respect to the accuracy, completeness, truthfulness or validity of any such information so provided, (ii) provide any additional information or to provide any such information on any
subsequent occasion, (iii) undertake any investigation or (iv) disclose any information that, pursuant to accepted or reasonable commercial finance practices, such party wishes to maintain confidential or is otherwise required to maintain
confidential. 
 Section 8.05 Subrogation. Each of the Second Lien Secured Parties hereby waives any rights of subrogation it
may acquire as a result of any payment hereunder until the Discharge of First Lien Obligations has occurred. 
 Section 8.06
Application of Payments. Prior to the Discharge of First Lien Obligations, all payments received by the First Lien Secured Parties may be applied, reversed and reapplied, in whole or in part, to such part of the First Lien Obligations as the
First Lien Secured Parties, in their sole discretion, deem appropriate, consistent with the terms of the First Lien Documents. Each Second Lien Secured Party assents to any such extension or postponement of the time of payment of the First Lien
Obligations or any part thereof and to any other indulgence with respect thereto, to any substitution, exchange or release of any Lien that may at any time secure any part of the First Lien Obligations and to the addition or release of any other
Person primarily or secondarily liable therefor. 
 Section 8.07 Additional Grantors. The Company agrees that, if any Subsidiary
shall become a Grantor after the date hereof, it will promptly cause such Subsidiary to become 

  
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party hereto by executing and delivering an instrument in the form of Annex I. Upon such execution and delivery, such Subsidiary will become a Grantor hereunder with the same force
and effect as if originally named as a Grantor herein. The execution and delivery of such instrument shall not require the consent of any other party hereunder, and will be acknowledged upon receipt by the First Lien Collateral Trustee and the
Designated Second Lien Representative. The rights and obligations of each Grantor hereunder shall remain in full force and effect notwithstanding the addition of any new Grantor as a party to this Agreement. 

Section 8.08 Dealings with Grantors. Upon any application or demand by the Company or any Grantor to the First Lien Collateral
Trustee or any Second Lien Representative to take or permit any action under any of the provisions of this Agreement or under any First Lien Security Document or Second Lien Security Document (in each case, if such action is subject to the
provisions hereof), at the request of the First Lien Collateral Trustee or such Second Lien Representative (as applicable), the Company shall furnish to the First Lien Collateral Trustee or such Second Lien Representative (as applicable) a
certificate of a principal executive officer or a financial officer (an “Officers’ Certificate”) stating that all conditions precedent, if any, provided for in this Agreement or such First Lien Security Document or
Second Lien Security Document, as the case may be, relating to the proposed action have been complied with. 
 Section 8.09
Additional Debt Facilities. To the extent, but only to the extent, not prohibited by the provisions of the then-existing First Lien Documents and/or Second Lien Documents, the Company or any Subsidiary may incur or issue and sell one or more
series or classes of additional Second Lien Debt and one or more series or classes of Additional First Lien Debt. Any such additional class or series of Second Lien Debt (the “Second Lien
Class Debt”) may be secured by a Lien on Shared Collateral junior in priority and subordinated to the Liens securing the First Lien Obligations, in each case under and pursuant to the relevant Second
Lien Security Documents for such Second Lien Class Debt, if and subject to the condition that the Representative of any such Second Lien Class Debt (each, a “Second Lien Class Debt
Representative”), acting on behalf of the holders of such Second Lien Class Debt (such Representative and holders in respect of any Second Lien Class Debt being referred to as the “Second Lien
Class Debt Parties”), becomes a party to this Agreement and satisfies, or causes to be satisfied, conditions (i) through (iii), as applicable, of the immediately succeeding paragraph. Any such class
or series of Additional First Lien Debt (the “First Lien Class Debt”; and the First Lien Class Debt and the Second Lien Class Debt, collectively, the
“Class Debt”) may be secured by a senior Lien on Shared Collateral, in each case under and pursuant to the relevant First Lien Security Documents, if and subject to the condition that the
trustee, agent or representative of any such First Lien Class Debt, acting on behalf of the holders of such First Lien Class Debt (such trustee, agent or representative and the holders in respect of any such First Lien Class Debt
being referred to as the “First Lien Class Debt Parties”; and the First Lien Class Debt Parties and the Second Lien Class Debt Parties, collectively, the
“Class Debt Parties”), satisfies, or causes to be satisfied, conditions (ii) through (iii), as applicable, of the immediately succeeding paragraph and becomes a party to the Collateral
Trust Agreement in accordance with the terms thereof. 

  
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 In order for Second Lien Class Debt or First Lien Class Debt to constitute
additional Second Lien Obligations or Additional First Lien Obligations hereunder: 
 (i)    the Second
Lien Class Debt Representative with respect to such Second Lien Class Debt shall have executed and delivered to the First Lien Collateral Trustee and the Designated Second Lien Representative a Joinder Agreement (with such changes as may
be reasonably approved by the First Lien Collateral Trustee, the Designated Second Lien Representative and such Second Lien Class Debt Representative) pursuant to which it becomes a Representative hereunder, and the Second Lien Class Debt
in respect of which such Second Lien Class Debt Representative is the Representative constitutes additional Second Lien Obligations, and the related Second Lien Class Debt Parties become subject hereto and bound hereby as additional Second
Lien Secured Parties (and such Joinder Agreement will be acknowledged upon receipt by the First Lien Collateral Trustee and the Designated Second Lien Representative); 

(ii)    the Company (a) shall have delivered to the First Lien Collateral Trustee and the Designated
Second Lien Representative an Officer’s Certificate identifying the obligations to be designated as additional Second Lien Obligations or Additional First Lien Obligations, as applicable, and the initial aggregate principal amount or face
amount thereof and certifying that such obligations are not prohibited from being incurred and secured (I) in the case of additional Second Lien Obligations, on a junior basis to the First Lien Obligations under each of the First Lien Documents
and (II) in the case of Additional First Lien Obligations, on a senior basis under each of the First Lien Documents and Second Lien Documents and (b) shall have delivered true and complete copies of each of the Second Lien Documents or
First Lien Documents, as applicable, relating to such Class Debt, certified as being true and correct by an authorized officer of the Company; and 

(iii)    the Second Lien Documents or the First Lien Documents, as applicable, relating to such
Class Debt shall provide that each Class Debt Party with respect to such Class Debt will be subject to and bound by the provisions of this Agreement in its capacity as a holder of such Class Debt. 

Section 8.10 Refinancings. The First Lien Obligations and the Second Lien Obligations may be refinanced or replaced, in whole or
in part, in each case, without notice to, or the consent (except to the extent a consent is otherwise required to permit the refinancing or replacement transaction under any First Lien Document or any Second Lien Document) of any First Lien Secured
Party or any Second Lien Secured Party, all without affecting the Lien priorities provided for herein or the other provisions hereof. Without limiting the application or effectiveness of Section 5.06,
(x) each Second Lien Representative hereby agrees that at the request of the Company in connection with refinancing or replacement of First Lien Obligations (“Replacement First Lien Obligations”) it will promptly enter into
an agreement in form and substance reasonably acceptable to each Second Lien Representative with the agent for the Replacement First Lien Obligations containing terms and conditions substantially similar to the terms and conditions of this Agreement
and (y) the First Lien Collateral Trustee hereby agrees that at the request of the Company in connection with refinancing or replacement of Second Lien Obligations (“Replacement Second Lien Obligations”) it will promptly
enter into an agreement in form reasonably acceptable to the First Lien Collateral Trustee with the agent for the Replacement Second Lien Obligations containing terms and conditions substantially similar to the terms and conditions of this
Agreement. 

  
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 Section 8.11 Consent to Jurisdiction; Waivers. Each Representative, on behalf of
itself and the Secured Parties for which it is acting, irrevocably and unconditionally: 
 (a)    submits
for itself and its property in any legal action or proceeding relating to this Agreement and the applicable Collateral Documents, or for recognition and enforcement of any judgment in respect thereof, to the exclusive jurisdiction of the courts of
the State of New York or the United States of America located in New York County, New York, and appellate courts from any thereof; 

(b)    consents and agrees that any such action or proceeding shall be brought in such courts and waives
any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 

(c)    agrees that service of process in any such action or proceeding may be effected by mailing a copy
thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person at the address referred to in Section 8.12; and 

(d)    agrees that nothing herein shall affect the right of any other party hereto (or any Secured Party)
to effect service of process in any other manner permitted by law. 
 Section 8.12 Notices. All notices, requests, demands and
other communications provided for or permitted hereunder shall be in writing and shall be sent: 
  

	 	(i)	 if to the Company or any Grantor, to the Company, at its address at: 

Triumph Group, Inc. 

899 Cassatt Road, Suite 210 

Berwyn, Pennsylvania 19312 

Attention: Brian Scheuer, Vice President and Treasurer 

 

	 	(ii)	 if to the First Lien Collateral Trustee, to it at: 

Wilmington Trust, National Association 

50 South Sixth Street, Suite 1290 

Minneapolis, MN 55402 

Attention: Triumph Group, Inc., Administrator 

Facsimile: 612-217-5651 

 

	 	(iii)	 if to the Second Lien Collateral Agent, to it at: 

U.S. Bank National Association 

Corporate Trust Services 

Two Liberty Place 

50 South 16th Street, Suite 2000 

Mail Station: EX-PA-WBSP

  
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 Philadelphia, Pennsylvania 19102 

Attention: George J. Rayzis 

Facsimile: (215) 761-9412 

Unless otherwise specifically provided herein, any notice or other communication herein required or permitted to be given shall be in writing
and may be personally served, telecopied, electronically mailed or sent by courier service or U.S. mail and shall be deemed to have been given when delivered in person or by courier service, upon receipt of a telecopy or electronic mail or upon
receipt via U.S. mail (registered or certified, with postage prepaid and properly addressed). For the purposes hereof, the addresses of the parties hereto shall be as set forth above or, as to each party, at such other address as may be designated
by such party in a written notice to all of the other parties. 
 Section 8.13 Further Assurances. The First Lien Collateral
Trustee, on behalf of itself and the First Lien Secured Parties, and each Second Lien Representative, on behalf of itself and the Second Lien Secured Parties, agrees that it will take such further action and shall execute and deliver such additional
documents and instruments (in recordable form, if requested) as the other parties hereto may reasonably request to effectuate the terms of, and the Lien priorities contemplated by, this Agreement, all at the cost and expense of the Company. 

Section 8.14 GOVERNING LAW; WAIVER OF JURY TRIAL. 

(A)    THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO CONFLICTS OF LAWS PRINCIPALS THAT WOULD REQUIRE THE APPLICATION OF THE LAW OF ANOTHER JURISDICTION. 

(B)     EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN. 
 Section 8.15 Binding on Successors and
Assigns. This Agreement shall be binding upon the First Lien Secured Parties, the Second Lien Secured Parties, the Company, the other Grantors party hereto and their respective successors and assigns. 

Section 8.16 Section Titles. The section titles contained in this Agreement are and shall be without substantive meaning or
content of any kind whatsoever and are not a part of this Agreement. 
 Section 8.17 Counterparts. This Agreement may be
executed in one or more counterparts, including by means of facsimile or other electronic method, each of which shall be an original and all of which shall together constitute one and the same document. Delivery of an executed signature page to this
Agreement by facsimile or other electronic image scan transmission shall be as effective as delivery of a manually signed counterpart of this Agreement. The 

  
 -42- 

 
words “execution,” “signed,” “signature,” and words of like import in the Agreement, or any notice, certificate or other instrument delivered in connection herewith
shall be deemed to include electronic signatures 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 8.18 Authorization. By its signature, each Person executing this Agreement on behalf of a party hereto represents and
warrants to the other parties hereto that it is duly authorized to execute this Agreement. The First Lien Secured Parties have appointed the First Lien Collateral Trustee as collateral trustee on their behalf pursuant to the Collateral Trust
Agreement and the First Lien Collateral Trustee represents and warrants that it has duly accepted such appointment. The Company and the other Grantors have appointed the Second Lien Collateral Agent as collateral agent pursuant to the Second Lien
Security Agreement on behalf of the holders of the Second Lien Obligations secured thereby and the Second Lien Collateral Agent represents and warrants that it has duly accepted such appointment. 

Section 8.19 No Third Party Beneficiaries; Successors and Assigns. The lien priorities set forth in this Agreement and the rights
and benefits hereunder in respect of such lien priorities shall inure solely to the benefit of the First Lien Secured Parties and the Second Lien Secured Parties, and their respective permitted successors and assigns, and no other Person (including,
subject to the last sentence hereof, the Grantors, or any trustee, receiver, debtor in possession or bankruptcy estate in a bankruptcy or like proceeding) shall have or be entitled to assert such rights. Nothing in this Agreement is intended to or
shall impair the obligations of the Company or any other Grantor, which are absolute and unconditional, to pay the First Lien Obligations and the Second Lien Obligations as and when the same shall become due and payable in accordance with their
terms. Except for Sections 5.01, 5.03, 6.01, 8.03(b), (c) and (d), 8.09, and 8.10, hereof and this
last sentence of this Section 8.19, neither the Company nor any other Grantor shall have any rights hereunder; provided that no rights of any Grantor hereunder may be waived or otherwise reduced and no
obligation of any Grantor may be increased without the written consent of such Grantor. 
 Section 8.20 Effectiveness. This
Agreement shall become effective when executed and delivered by the parties hereto. 
 Section 8.21 Collateral Agent and
Representative. It is understood and agreed that (a) the First Lien Collateral Trustee is entering into this Agreement in its capacity as collateral trustee under the Collateral Trust Agreement and the provisions of Article V of the
Collateral Trust Agreement applicable to the Collateral Trustee (as defined therein) thereunder along with such other rights, protections and immunities contained in the Collateral Trust Agreement shall also apply to the First Lien Collateral
Trustee hereunder and (b) the Second Lien Collateral Agent is entering into this Agreement in its capacity as collateral agent under the Second Lien Indenture and the Second Lien Security Agreement and the provisions of Sections 11.6 and 12.7
of the Second Lien Indenture applicable to the Second Lien Collateral Agent (as defined therein) thereunder shall also apply to the Second Lien Collateral Agent hereunder. 

  
 -43- 

 Section 8.22 Survival of Agreement. All covenants, agreements, representations
and warranties made by any party in 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. 

Section 8.23 Certain Notices. The Company agrees to give the Designated Second Lien Representative reasonable notice of the
occurrence of the Discharge of First Lien Obligations. The Company agrees to give the First Lien Collateral Trustee reasonable notice of the occurrence of the Discharge of Second Lien Obligations. 

Section 8.24 Amendment and Restatement. From and after the date hereof, the Original Intercreditor Agreement shall be amended and
restated in its entirety by this Agreement, and the Original Intercreditor Agreement shall thereafter be of no further force and effect. This Agreement is not in any way intended to constitute a novation of the obligations and liabilities existing
under the Original Intercreditor Agreement. On and after the date hereof, (i) all references to the Original Intercreditor Agreement (or to any amendment or any amendment and restatement thereof) in the Second Lien Documents shall be deemed to
refer to the Original Intercreditor Agreement as amended and restated hereby (as it may be further amended, restated, amended and restated or otherwise modified) and (ii) all references to any section (or subsection) of the Original
Intercreditor Agreement shall be amended to become, mutatis mutandis, references to the corresponding provisions of this Agreement. 

[Signature pages follow] 

  
 -44- 

 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. 
  

					
	 WILMINGTON TRUST, NATIONAL ASSOCIATION,

as First Lien Collateral Trustee

		
	By:	 	 /s/ Jane Schweiger

		 	Name:	 	Jane Schweiger
		 	Title:	 	Vice President

  
 [SIGNATURE PAGE TO
AMENDED AND RESTATED INTERCREDITOR AGREEMENT] 

 
					
	U.S. BANK NATIONAL ASSOCIATION, as Second Lien Collateral Agent
		
	By:	 	 /s/ George J. Rayzis

		 	Name:	 	George J. Rayzis
		 	Title:	 	Vice President

  
 [SIGNATURE PAGE TO
AMENDED AND RESTATED INTERCREDITOR AGREEMENT] 

			
	TRIUMPH GROUP, INC.
		
	By:	 	 /s/ James F. McCabe, Jr.

	Name:	 	James F. McCabe, Jr.
	Title:	 	Senior Vice President and Chief Financial Officer
	
	 HT PARTS, L.L.C.

TRIUMPH ACCESSORY SERVICES – GRAND PRAIRIE, INC.

TRIUMPH ACTUATION SYSTEMS - CONNECTICUT, LLC

TRIUMPH ACTUATION SYSTEMS – VALENCIA, INC.

TRIUMPH ACTUATION SYSTEMS – YAKIMA, LLC

TRIUMPH ACTUATION SYSTEMS, LLC

TRIUMPH AEROSPACE SYSTEMS GROUP, LLC

TRIUMPH AEROSTRUCTURES – TULSA, LLC

TRIUMPH AEROSTRUCTURES HOLDINGS, LLC

TRIUMPH AEROSTRUCTURES, LLC

TRIUMPH AFTERMARKET SERVICES GROUP, LLC

TRIUMPH AIRBORNE STRUCTURES, LLC

TRIUMPH AVIATIONS INC.

TRIUMPH BRANDS, INC.

TRIUMPH COMPOSITE SYSTEMS, INC.

TRIUMPH CONTROLS, LLC

TRIUMPH ENGINE CONTROL HOLDINGS, INC.

TRIUMPH ENGINE CONTROL SYSTEMS, LLC

TRIUMPH ENGINEERED SOLUTIONS, INC.

TRIUMPH ENGINEERING SERVICES, INC.

TRIUMPH FABRICATIONS – ORANGEBURG, INC.

TRIUMPH GEAR SYSTEMS – MACOMB, INC.

TRIUMPH GEAR SYSTEMS, INC.

TRIUMPH GROUP ACQUISITION HOLDINGS, INC.

  
 [SIGNATURE PAGE TO
AMENDED AND RESTATED INTERCREDITOR AGREEMENT] 

 
			
	 TRIUMPH INSTRUMENTS – BURBANK, INC.

TRIUMPH INSULATION SYSTEMS, LLC

TRIUMPH INTEGRATED AIRCRAFT INTERIORS, INC.

TRIUMPH INVESTMENT HOLDINGS, INC.

TRIUMPH STRUCTURES – KANSAS CITY, INC.

TRIUMPH STRUCTURES – WICHITA, INC.

TRIUMPH THERMAL SYSTEMS – MARYLAND, INC.

TRIUMPH THERMAL SYSTEMS, LLC

TRIUMPH TURBINE SERVICES, INC.

VAC INDUSTRIES, INC.

		
	By:	 	 /s/ James F. McCabe, Jr.

	Name:	 	James F. McCabe, Jr.
	Title:	 	Vice President & Treasurer

  
 [SIGNATURE PAGE TO
AMENDED AND RESTATED INTERCREDITOR AGREEMENT] 

 
			
	THE TRIUMPH GROUP OPERATIONS, INC.
		
	By:	 	 /s/ James F. McCabe, Jr.

	Name:	 	James F. McCabe, Jr.
	Title:	 	Senior Vice President, CFO & Treasurer

  

			
	 TRIUMPH GROUP ACQUISITION CORP.

NU-TECH BRANDS, INC.

		
	By:	 	 /s/ James F. McCabe, Jr.

	Name:	 	James F. McCabe, Jr.
	Title:	 	President & Treasurer

  
 [SIGNATURE PAGE TO
AMENDED AND RESTATED INTERCREDITOR AGREEMENT] 

 ANNEX I 

[FORM OF] SUPPLEMENT NO. [●] dated as of [●], 20[●], to the AMENDED AND RESTATED INTERCREDITOR AGREEMENT dated as of
August 17, 2020 (the “Intercreditor Agreement”), among WILMINGTON TRUST, NATIONAL ASSOCIATION, as the First Lien Collateral Trustee, U.S. BANK NATIONAL ASSOCIATION, as the Second Lien Collateral Agent, the additional
Representatives from time to time party thereto, TRIUMPH GROUP, INC., a Delaware corporation (the “Company”), and the other Grantors party thereto. 

A.    Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the
Intercreditor Agreement. 
 B.    The Grantors have entered into the Intercreditor Agreement. Pursuant to the First Lien
Indenture and the Second Lien Indenture [certain Additional First Lien Documents] [certain additional Second Lien Documents], certain newly acquired or organized Subsidiaries of the Company are required to enter into the Intercreditor Agreement.
Section 8.07 of the Intercreditor Agreement provides that such Subsidiaries may become party to the Intercreditor Agreement by execution and delivery of an instrument in the form of this Supplement. The
undersigned Subsidiary (the “New Grantor”) is executing this Supplement in accordance with the requirements of the First Lien Indenture and the Second Lien Indenture [the Additional First Lien Documents] [the additional
Second Lien Documents]. 
 Accordingly, the New Grantor agrees and the First Lien Collateral Trustee and the Designated Second Lien
Representative acknowledge as follows: 
 SECTION 1. In accordance with Section 8.07 of
the Intercreditor Agreement, the New Grantor by its signature below becomes a Grantor under the Intercreditor Agreement with the same force and effect as if originally named therein as a Grantor, and the New Grantor hereby agrees to all the terms
and provisions of the Intercreditor Agreement applicable to it as a Grantor thereunder. Each reference to a “Grantor” in the Intercreditor Agreement shall be deemed to include the New Grantor. The Intercreditor Agreement is hereby
incorporated herein by reference. 
 SECTION 2. The New Grantor represents and warrants to the First Lien Collateral Trustee, the
Designated Second Lien Representative, and the other Secured Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its
terms, except as such enforceability may be limited by Bankruptcy Laws and by general principles of equity. 
 SECTION 3. This
Supplement may be executed in counterparts, each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Supplement shall become effective when the First Lien Collateral Trustee and the
Designated Second Lien Representative shall have received a counterpart of this Supplement that bears the signature of the New Grantor. Delivery of an executed signature page to this Supplement by facsimile transmission or other electronic method
shall be as effective as delivery of a manually signed counterpart of this Supplement. 

  
 Annex I-1 

 SECTION 4. Except as expressly supplemented hereby, the Intercreditor Agreement shall
remain in full force and effect. 
 SECTION 5. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO CONFLICTS OF LAWS PRINCIPALS THAT WOULD REQUIRE THE APPLICATION OF THE LAW OF ANOTHER JURISDICTION. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN. 
 SECTION 6. In case any one or more of
the provisions contained in this Supplement should be held invalid, illegal or unenforceable in any respect, no party hereto shall be required to comply with such provision for so long as such provision is held to be invalid, illegal or
unenforceable, but the validity, legality and enforceability of the remaining provisions contained herein and in the Intercreditor Agreement shall not in any way be affected or impaired. The parties hereto shall endeavor in good-faith negotiations
to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 7. All communications and notices hereunder shall be in writing and given as provided in
Section 8.12 of the Intercreditor Agreement. All communications and notices hereunder to the New Grantor shall be given to it in care of the Company as specified in the Intercreditor Agreement. 

SECTION 8. The Company agrees to reimburse the First Lien Collateral Trustee and the Designated Second Lien Representative for each of
their reasonable fees and expenses in connection with this Supplement, including the reasonable fees, other charges and disbursements of counsel for the First Lien Collateral Trustee and the Designated Second Lien Representative as required by the
applicable Secured Debt Documents. 
 [Signature pages follow] 

  
 Annex I-2 

 IN WITNESS WHEREOF, the New Grantor, the First Lien Collateral Trustee and the Designated
Second Lien Representative have duly executed this Supplement to the Intercreditor Agreement as of the day and year first above written. 
  

			
	[NAME OF NEW SUBSIDIARY GRANTOR]
		
	By:	 	  

		 	Name:
		 	Title:

 Acknowledged by: 

WILMINGTON TRUST, NATIONAL ASSOCIATION, 
 as First Lien
Collateral Trustee 
  

			
	By:	 	  

		 	Name:
		 	Title:

  

			
	[●], as Designated Second Lien Representative
		
	By:	 	  

		 	Name:
		 	Title:

  
 Annex I-3 

 ANNEX II 

[FORM OF] REPRESENTATIVE SUPPLEMENT NO. [●] dated as of [●], 20[●], to the AMENDED AND RESTATED INTERCREDITOR AGREEMENT
dated as of August 17, 2020 (the “Intercreditor Agreement”), among WILMINGTON TRUST, NATIONAL ASSOCIATION, as the First Lien Collateral Trustee, U.S. BANK NATIONAL ASSOCIATION, as the Second Lien Collateral Agent, the
additional Representatives from time to time party thereto, TRIUMPH GROUP, INC., a Delaware corporation (the “Company”), and the other Grantors party thereto. 

A.    Capitalized terms used herein but not otherwise defined herein shall have the meanings assigned to such terms in the
Intercreditor Agreement. 
 B.    As a condition to the ability of the Company to incur Second Lien Debt after the date
of the Intercreditor Agreement and to secure such Second Lien Debt with the Second Lien and to have such Second Lien Debt guaranteed by the Grantors, in each case under and pursuant to the Second Lien Security Documents relating thereto, the Second
Lien Representative in respect of such Second Lien Debt is required to become a Representative under, and such Second Lien Debt and the Second Lien Secured Parties in respect thereof are required to become subject to and bound by, the Intercreditor
Agreement. Section 8.09 of the Intercreditor Agreement provides that such Second Lien Representative may become a Representative under, and such Second Lien Debt and such Second Lien Secured Parties may
become subject to and bound by, the Intercreditor Agreement as additional Second Lien Obligations and additional Second Lien Secured Parties, respectively, pursuant to the execution and delivery by the Second Lien Representative of an instrument in
the form of this Representative Supplement and the satisfaction of the other conditions set forth in Section 8.09 of the Intercreditor Agreement. The undersigned Second Lien Representative (the
“New Representative”) is executing this Supplement in accordance with the requirements of the First Lien Documents and the Second Lien Documents. 

Accordingly, the New Representative agrees and the First Lien Collateral Trustee and the Designated Second Lien Representative acknowledge as
follows: 
 SECTION 1. In accordance with Section 8.09 of the Intercreditor Agreement,
the New Representative by its signature below becomes a Representative under, and the related Second Lien Debt and Second Lien Secured Parties become subject to and bound by, the Intercreditor Agreement as Second Lien Debt and Second Lien Secured
Parties, respectively, with the same force and effect as if the New Representative had originally been named therein as a Representative, and the New Representative, on behalf of itself and such Second Lien Secured Parties, hereby agrees to all the
terms and provisions of the Intercreditor Agreement applicable to it as a Second Lien Representative and to the Second Lien Secured Parties that it represents as Second Lien Secured Parties. Each reference to a “Representative” or
“Second Lien Representative” in the Intercreditor Agreement shall be deemed to include the New Representative. The Intercreditor Agreement is hereby incorporated herein by reference. 

SECTION 2. The New Representative represents and warrants to the First Lien Collateral Trustee and the Designated Second Lien
Representative and the other Secured Parties 

  
 Annex II-1 

 
that (i) it has full power and authority to enter into this Representative Supplement, in its capacity as [agent] [trustee][under [describe new facility]] (the “New
Facility”), (ii) this Representative Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with the terms of such Agreement and
(iii) the Second Lien Documents relating to such Second Lien Debt provide that, upon the New Representative’s entry into this Agreement, the Second Lien Secured Parties in respect of such Second Lien Debt will be subject to and bound by
the provisions of the Intercreditor Agreement as Second Lien Secured Parties. 
 SECTION 3. The New Representative acknowledges that
the documents governing the New Facility comply with the Additional Secured Debt Designation. 
 SECTION 4. This Representative
Supplement may be executed in counterparts, each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Representative Supplement shall become effective when the First Lien Collateral
Trustee and the Designated Second Lien Representative shall have received a counterpart of this Representative Supplement that bears the signature of the New Representative. Delivery of an executed signature page to this Representative Supplement by
facsimile transmission or other electronic method shall be effective as delivery of a manually signed counterpart of this Representative Supplement. 

SECTION 5. Except as expressly supplemented hereby, the Intercreditor Agreement shall remain in full force and effect. 

SECTION 6. THIS REPRESENTATIVE SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK
WITHOUT GIVING EFFECT TO CONFLICTS OF LAWS WITHOUT GIVING EFFECT TO CONFLICTS OF LAWS PRINCIPALS THAT WOULD REQUIRE THE APPLICATION OF THE LAW OF ANOTHER JURISDICTION. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN
ANY LEGAL ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN. 
 SECTION 7. In case
any one or more of the provisions contained in this Representative Supplement should be held invalid, illegal or unenforceable in any respect, no party hereto shall be required to comply with such provision for so long as such provision is held to
be invalid, illegal or unenforceable, but the validity, legality and enforceability of the remaining provisions contained herein and in the Intercreditor Agreement shall not in any way be affected or impaired. The parties hereto shall endeavor in
good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 8. All communications and notices hereunder shall be in writing and given as provided in
Section 8.12 of the Intercreditor Agreement. All communications and notices hereunder to the New Representative shall be given to it at the address set forth below its signature hereto. 

  
 Annex II-2 

 SECTION 9. The Company agrees to reimburse the First Lien Collateral Trustee and the
Designated Second Lien Representative for each of their reasonable fees and expenses in connection with this Representative Supplement, including the reasonable fees, other charges and disbursements of counsel for the First Lien Collateral Trustee
and the Designated Second Lien Representative as required by the applicable Secured Debt Documents. 
 [Signature pages follow] 

  
 Annex II-3 

 IN WITNESS WHEREOF, the New Representative, the First Lien Collateral Trustee and the
Designated Second Lien Representative have duly executed this Representative Supplement to the Intercreditor Agreement as of the day and year first above written. 

 

			
	[NAME OF NEW REPRESENTATIVE],
	
	as [●] for the holders of [●]
		
	By:	 	  

		 	Name:
		 	Title:
	
	Address for notices:
	
	Attention of:
	Telecopy:
	
	 WILMINGTON TRUST, NATIONAL

ASSOCIATION,as First Lien Collateral Trustee

		
	By:	 	  

		 	Name:
		 	Title:
	
	[●],
	
	as Designated Second Lien Representative
		
	By:	 	  

		 	Name:
		 	Title:

  
 Annex II-4 

 Acknowledged by: 
  

			
	[TRIUMPH GROUP, INC.]
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	[SUBSIDIARY GRANTORS]
		
	By:	 	  

		 	Name:
		 	Title:

  
 Annex II-5EX-10.2

 Exhibit 10.2 

Execution Version 
  

 
 COLLATERAL TRUST AGREEMENT

 dated as of August 17, 2020, 

among 
 TRIUMPH GROUP,
INC., 
 the other Grantors from time to time party hereto, 

U.S. BANK NATIONAL ASSOCIATION, 

as Indenture Trustee, 

WILMINGTON TRUST, NATIONAL ASSOCIATION, 

as Collateral Trustee, 
 and 

any other Secured Debt Representative from time to time party hereto 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I DEFINITIONS; PRINCIPLES OF CONSTRUCTION
	  	 	1	 
			
	 Section 1.1
	 	Defined Terms	  	 	1	 
	 Section 1.2
	 	Other Definition Provisions	  	 	10	 
		
	 ARTICLE II THE TRUST ESTATE
	  	 	11	 
			
	 Section 2.1
	 	Declaration of Trust	  	 	11	 
	 Section 2.2
	 	Collateral Shared Equally and Ratably	  	 	12	 
		
	 ARTICLE III OBLIGATIONS AND POWERS OF COLLATERAL TRUSTEE
	  	 	13	 
			
	 Section 3.1
	 	Appointment and Undertaking of the Collateral Trustee	  	 	13	 
	 Section 3.2
	 	Release or Subordination of Liens	  	 	14	 
	 Section 3.3
	 	Enforcement of Liens	  	 	15	 
	 Section 3.4
	 	Application of Proceeds	  	 	15	 
	 Section 3.5
	 	Powers of the Collateral Trustee	  	 	17	 
	 Section 3.6
	 	Documents and Communications	  	 	17	 
	 Section 3.7
	 	For Sole and Exclusive Benefit of the Secured Parties	  	 	17	 
	 Section 3.8
	 	Additional Secured Debt	  	 	17	 
	 Section 3.9
	 	Hedging Obligations	  	 	19	 
		
	 ARTICLE IV OBLIGATIONS ENFORCEABLE BY THE GRANTORS
	  	 	20	 
			
	 Section 4.1
	 	Release of Liens on Collateral	  	 	20	 
	 Section 4.2
	 	Delivery of Copies to Secured Debt Representatives	  	 	21	 
	 Section 4.3
	 	Preparing, Filing or Recording Release Documentation	  	 	22	 
	 Section 4.4
	 	Satisfaction of Obligations in Respect of any Series of Secured Debt	  	 	22	 
		
	 ARTICLE V IMMUNITIES OF THE COLLATERAL TRUSTEE
	  	 	23	 
			
	 Section 5.1
	 	No Implied Duty	  	 	23	 
	 Section 5.2
	 	Appointment of Agents and Advisors	  	 	23	 
	 Section 5.3
	 	Other Agreements	  	 	23	 
	 Section 5.4
	 	Solicitation of Instructions	  	 	24	 
	 Section 5.5
	 	Limitation of Liability	  	 	24	 
	 Section 5.6
	 	Documents in Satisfactory Form	  	 	25	 
	 Section 5.7
	 	Entitled to Rely	  	 	25	 
	 Section 5.8
	 	Secured Debt Default	  	 	26	 
	 Section 5.9
	 	Actions by Collateral Trustee	  	 	26	 
	 Section 5.10
	 	Security or Indemnity in favor of the Collateral Trustee	  	 	26	 
	 Section 5.11
	 	Rights of the Collateral Trustee	  	 	26	 
	 Section 5.12
	 	Limitations on Duty of Collateral Trustee in Respect of Collateral	  	 	27	 
	 Section 5.13
	 	Assumption of Rights, Not Assumption of Duties	  	 	28	 
	 Section 5.14
	 	No Liability for Clean-Up of Hazardous Materials	  	 	28	 
	 Section 5.15
	 	Act of Required Secured Party, etc.	  	 	28	 

  
 i 

							
	 ARTICLE VI RESIGNATION AND REMOVAL OF THE COLLATERAL TRUSTEE
	  	 	29	 
			
	 Section 6.1
	 	Resignation or Removal of Collateral Trustee	  	 	29	 
	 Section 6.2
	 	Appointment of Successor Collateral Trustee	  	 	29	 
	 Section 6.3
	 	Succession	  	 	29	 
	 Section 6.4
	 	Merger, Conversion or Consolidation of Collateral Trustee	  	 	30	 
		
	 ARTICLE VII MISCELLANEOUS PROVISIONS
	  	 	30	 
			
	 Section 7.1
	 	Amendment	  	 	30	 
	 Section 7.2
	 	Voting	  	 	32	 
	 Section 7.3
	 	Further Assurances	  	 	32	 
	 Section 7.4
	 	Successors and Assigns	  	 	33	 
	 Section 7.5
	 	Delay and Waiver	  	 	33	 
	 Section 7.6
	 	Notices	  	 	33	 
	 Section 7.7
	 	Notice Following Discharge of Secured Obligations	  	 	35	 
	 Section 7.8
	 	Entire Agreement	  	 	35	 
	 Section 7.9
	 	Compensation; Expenses	  	 	35	 
	 Section 7.10
	 	Indemnity	  	 	36	 
	 Section 7.11
	 	Severability	  	 	37	 
	 Section 7.12
	 	Section Headings	  	 	37	 
	 Section 7.13
	 	Obligations Secured	  	 	37	 
	 Section 7.14
	 	Governing Law	  	 	37	 
	 Section 7.15
	 	Consent to Jurisdiction; Service of Process	  	 	37	 
	 Section 7.16
	 	WAIVER OF JURY TRIAL	  	 	37	 
	 Section 7.17
	 	Counterparts	  	 	38	 
	 Section 7.18
	 	Additional Grantors	  	 	38	 
	 Section 7.19
	 	Continuing Nature of this Agreement	  	 	38	 
	 Section 7.20
	 	Insolvency	  	 	38	 
	 Section 7.21
	 	Rights and Immunities of Secured Debt Representatives	  	 	39	 
	 Section 7.22
	 	Modification of Secured Debt Documents	  	 	39	 
	 Section 7.23
	 	Confidentiality	  	 	39	 
	 Section 7.24
	 	Jurisdiction Specific Provisions	  	 	38	 

  
 ii 

					
	SCHEDULE I	 	–	  	 Other Grantors

			
	EXHIBIT A	 	–	  	 Form of Additional Secured Debt Designation

	EXHIBIT B	 	–	  	 Form of Collateral Trust Agreement Joinder—Additional Secured Debt

	EXHIBIT C	 	–	  	 Form of Collateral Trust Agreement Joinder—Additional Grantors

	EXHIBIT D	 	–	  	 Form of Collateral Trust Agreement Joinder—Hedging Agreements

  

  
 iii 

 COLLATERAL TRUST AGREEMENT (as amended, restated, supplemented, amended and restated or
otherwise modified from time to time, this “Agreement”), dated as of August 17, 2020, among Triumph Group, Inc., a Delaware corporation (the “Company”), the grantors listed on Schedule I hereto (each a
“Grantor” and, collectively with the Company and any other Subsidiary of the Company that becomes a party hereto as a Grantor, the “Grantors”), the Indenture Trustee (as defined below), Wilmington Trust, National
Association, as collateral trustee for the benefit of the Secured Parties (in such capacity and together with its successors in such capacity, the “Collateral Trustee”), and the other Secured Debt Representatives from time to time
party hereto; 
 W I T N E S S E T H: 

WHEREAS, the Company intends to issue 8.875% Senior Secured First Lien Notes due 2024 (the “Notes”) in an aggregate principal
amount of $600,000,000 pursuant to an Indenture, dated as of the date hereof (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Indenture”), among the Company, the other Grantors,
as guarantors, and U.S. Bank National Association, as trustee (in such capacity and together with its successors in such capacity, the “Indenture Trustee”); 

WHEREAS, the Grantors intend to secure the Obligations (as defined herein) under the Indenture, any future Secured Debt and any other Secured
Obligations on a pari passu basis with all present and future Liens on the Collateral to the extent that such Liens have been provided for in the applicable Security Documents (as defined herein); and 

WHEREAS, this Agreement sets forth the terms on which each Secured Party (as defined herein) has appointed Wilmington Trust, National
Association, as Collateral Trustee to act as the collateral trustee for the Secured Parties in order to receive, hold, maintain, administer and distribute, on behalf of the Secured Parties, the Collateral at any time pledged under the Security
Documents (as defined herein) and, if applicable, delivered to the Collateral Trustee, and to enforce the applicable Security Documents on behalf of the Secured Parties party thereto. 

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein set forth, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows: 
 ARTICLE I 

DEFINITIONS; PRINCIPLES OF CONSTRUCTION 

Section 1.1    Defined Terms. The following terms will have the following meanings: 

“Act of Required Secured Parties” means, as to any matter at any time prior to the Discharge of Secured Obligations, a
direction in writing delivered to the Collateral Trustee by or with the written consent of either the holders of or the Secured Debt Representatives representing the holders of more than 50% of the sum of: 

(a)    the aggregate outstanding principal amount of Secured Debt (including the face amount of outstanding
letters of credit whether or not then available or drawn); and 

  
 1 

 (b)    other than in connection with the exercise of
remedies, the aggregate unfunded commitments to extend credit which, when funded, would constitute Secured Debt. 
 For purposes of this definition,
(i) Secured Debt registered in the name of, or beneficially owned by, the Grantors or any of their respective Subsidiaries will be deemed not to be outstanding and neither the Grantors nor any of their Subsidiaries will be entitled to vote such
Secured Debt, (ii) Secured Debt registered in the name of, or beneficially owned by, any Affiliate of any Grantor may be subject to restrictions on ownership and/or voting to the extent set forth in the applicable Secured Debt Documents and
(iii) votes will be determined in accordance with Section 7.2. 
 Notwithstanding anything to the contrary herein, if
(a) the Total Credit Facility Exposure under a Secured Credit Facility is equal to or exceeds $50,000,000 and (b) the holders of a majority of the Total Credit Facility Exposure under such Secured Credit Facility are commercial banks
regulated by the U.S. Office of the Comptroller of the Currency, any analogous U.S., Federal or state bank regulatory authority, the European Central Bank or the Bank of England (or any regulator authorized thereby), then an Act of Required Secured
Parties shall mean a direction in writing delivered to the Collateral Trustee by or with the consent of either the holders of or the Secured Debt Representatives representing the holders of more than 50% of the Total Credit Facility Exposure under
such Secured Credit Facility. 
 “Additional Secured Debt” has the meaning set forth in
Section 3.8(b)(1). 
 “Additional Secured Debt Designation” means a notice in substantially the
form of Exhibit A. 
 “Affiliate” means, with respect to a specified Person, any other
Person that directly or indirectly Controls or is Controlled by or is under common Control with such specified Person. 

“Agreement” has the meaning set forth in the preamble. 

“Approved Intercreditor Agreement” means (i) with respect to indebtedness secured on a pari passu basis with the
Secured Obligations, this Agreement (or any other collateral trust agreement or intercreditor agreement reasonably acceptable to the Collateral Trustee acting at the direction of an Act of Required Secured Parties) and (ii) with respect to any
indebtedness secured on a junior basis to the Secured Obligations, (x) the Second Lien Intercreditor Agreement and (y) any other intercreditor agreement the terms of which are consistent with market terms governing security arrangements
for the sharing of liens or arrangements relating to the distribution of payments, as applicable, at the time the intercreditor agreement is proposed to be established in light of the type of Indebtedness subject thereto. 

  
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 “Banking Services” means the following bank services provided to any
Grantor by any lender under any Additional Secured Debt that is a Credit Facility or any of such lender’s Affiliates: (a) credit cards for commercial customers (including “commercial credit cards” and purchasing cards),
(b) stored value cards and (c) treasury management services (including controlled disbursement, automated clearinghouse transactions, return items, overdrafts and interstate depository network services). 

“Banking Services Obligations” means any and all obligations of any Grantor, whether absolute or contingent and howsoever and
whensoever created, arising, evidenced or acquired, (including all renewals, extensions and modifications thereof and substitutions therefor) in connection with Banking Services. 

“Banking Services Provider” means any Person to whom Banking Services Obligations are owing. 

“Business Day” means any day other than a Saturday, a Sunday or a day on which banking institutions in the City of New York
or at a place of payment of any applicable Secured Obligations are authorized or required by law, regulation or executive order to remain closed. 

“Collateral” means all properties and assets of the Grantors now owned or hereafter acquired in which Liens have been
granted, or purported to be granted, or required to be granted, in favor of the Collateral Trustee on behalf of the Secured Parties to secure any or all of the Secured Obligations, and shall exclude any properties and assets in which the Collateral
Trustee is required to release its Liens pursuant to Section 3.2 (from and after the time such release is required); provided, that, subject to the terms of the applicable Secured Debt Documents, if such Liens
are required to be released as a result of the sale, transfer or other disposition of any properties or assets of any Grantor, such assets or properties will cease to be excluded from the Collateral if such Grantor thereafter acquires or reacquires
such assets or properties. For the avoidance of doubt, in no event shall “Collateral” include any Excluded Property (as defined in the Indenture). 

“Collateral Trustee” has the meaning set forth in the preamble. 

“Collateral Trust Agreement Joinder” means (i) with respect to the provisions of this Agreement relating to any
Additional Secured Debt, a joinder substantially in the form of Exhibit B hereto, (ii) with respect to the provisions of this Agreement relating to the addition of additional Grantors, a joinder substantially in the
form of Exhibit C hereto and (iii) with respect to the provisions of this Agreement relating to any Hedging Obligations, a joinder substantially in the form of Exhibit D hereto. 

“Company” has the meaning set forth in the preamble. 

“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. “Controlled” has a meaning correlative thereto. 

  
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 “Credit Facility” means one or more debt facilities or commercial
paper facilities, in each case with banks or other institutional lenders providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to such lenders or to special purpose entities formed to
borrow from such lenders against such receivables) or letters of credit, in each case, as amended, restated, amended and restated, supplemented or otherwise modified from time to time including any replacement that has been designated in accordance
with Section 3.8 hereof. 
 “Discharge of Secured Obligations” means the occurrence of all
of the following: 
 (1)    termination or expiration of all commitments to extend credit that would
constitute Secured Debt; 
 (2)    with respect to each Series of Secured Debt, either (x) payment
in full, or other satisfaction and discharge, of the obligations outstanding under such Secured Debt (other than any Banking Services Obligations, Hedging Obligations and obligations for taxes, costs, indemnifications, reimbursements, damages and
other liabilities in respect of which no claim or demand for payment has been made at such time and any undrawn letters of credit) or (y) the legal defeasance or covenant defeasance pursuant to the terms of the applicable Secured Debt Documents
for such Series of Secured Debt (other than any Banking Services Obligations or Hedging Obligations); 

(3)    with respect to any undrawn letters of credit constituting Secured Debt, either (x) the
discharge or cash collateralization (in an amount not less than the percentage of the aggregate face amount required by the applicable Secured Debt Document) of all outstanding letters of credit constituting Secured Debt or (y) the notification
by the issuer of each such letter of credit to the Collateral Trustee in writing that such issuer has determined that alternative arrangements satisfactory to such issuer have been made; and 

(4)    payment in full of all other Secured Obligations that are outstanding and unpaid at the time the
Secured Debt is paid in full (other than Banking Services Obligations, Hedging Obligations and any obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities in respect of which no claim or demand for payment has
been made at such time). 
 “Funded Debt” means, with respect to any specified Person, any indebtedness of
such Person (excluding accrued expenses and trade payables), whether or not contingent: 
 (1)    in
respect of borrowed money or advances; or 
 (2)    evidenced by loan agreements, bonds, notes,
debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof). 
 For the avoidance of doubt, “Funded
Debt” shall not include Hedging Obligations or Banking Services Obligations. 

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

“Grantors” means (a) the Company and each of its Subsidiaries that executes this Agreement as of the date hereof
as a “Grantor” and (b) from and after the date hereof, each other Subsidiary that becomes a party to this Agreement (and any of the Security Documents) pursuant to Exhibit C of the Collateral Trust Agreement Joinder. 

“Hedge Agreement” means (i) any Swap Agreement for which the counterparty thereto (x) is a Secured Debt
Representative or lender under any Credit Facility that constitutes Additional Secured Debt or is an Affiliate of any of the foregoing, in each case at the time such Swap Agreement was entered into and (y) has delivered a Collateral Trust
Agreement Joinder in respect thereof or (ii) any Swap Agreement under an ISDA Master Agreement specifically referenced in a previously delivered Collateral Trust Agreement Joinder.  

“Hedge Provider” means the counterparty to the Grantors (or any Affiliate of the Grantors) under any Hedge Agreement. 

“Hedging Obligations” means the obligations of the Company or a Restricted Subsidiary (as defined in the Indenture) of the
Company under any Hedge Agreement. 
 “Indemnified Liabilities” means any and all liabilities (including all environmental
liabilities), obligations, losses, damages, penalties, actions, judgments, suits, costs, taxes, expenses or disbursements of any kind or nature whatsoever with respect to the execution, delivery, performance, administration or enforcement of this
Agreement or any of the other Security Documents, and all reasonable, documented out-of-pocket costs and expenses (including reasonable documented fees and expenses of
legal counsel selected by the Indemnitee) incurred by any Indemnitee in connection with any claim, action, investigation or proceeding in any respect relating to any of the foregoing, whether or not suit is brought (including costs of enforcement
with respect to enforcement of an Indemnitee’s right to indemnity hereunder); provided, however, that in no event shall “Indemnified Liabilities” include fees and expenses for more than one primary counsel to the
Collateral Trustee (and up to one local counsel in each applicable jurisdiction and regulatory counsel). 
 “Indemnitee”
has the meaning set forth in Section 7.10(a). 
 “Indenture” has the meaning set forth in the
recitals. 
 “Indenture Trustee” has the meaning set forth in the recitals. 

“Insolvency or Liquidation Proceeding” means: 

(1) any involuntary case or application or proceeding commenced or involuntary petition filed seeking (a) liquidation,
reorganization, winding-up, dissolution, 

  
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compromise, arrangement or other relief in respect of the Company or any Material Subsidiary or its debts, or of a substantial part of its assets, under any federal, state or foreign bankruptcy,
insolvency, receivership, examinership or similar law now or hereafter in effect or (b) the appointment of a receiver, receiver and manager, trustee, custodian, sequestrator, conservator, examiner, liquidator or similar official for the Company
or any Material Subsidiary or for a substantial part of its assets, which in any case, such case or application or proceeding or petition has continued undismissed for sixty (60) days or an order or decree approving or ordering any of the
foregoing is entered; and/or 
 (2)     (a) any voluntary proceeding commenced or voluntary filing by the
Company or any Material Subsidiary of any petition seeking liquidation, reorganization, winding-up, dissolution, compromise, arrangement or other relief under any federal, state or foreign bankruptcy,
insolvency, receivership, examinership or similar law now or hereafter in effect (except in a transaction expressly permitted by the applicable Secured Debt Documents), (b) any consent by the Company or any Material Subsidiary to the institution of,
or failure to contest in a timely and appropriate manner, any proceeding or petition described in clause (1) above, (c) any application for or consent to by the Company or any Material Subsidiary of the appointment of a receiver, receiver and
manager, trustee, custodian, sequestrator, conservator, examiner or similar official for, the Company or any Material Subsidiary or for a substantial part of its assets, (d) the Company or any Material Subsidiary filing an answer admitting the
material allegations of a petition filed against it in any such proceeding, (e) the Company or any Material Subsidiary making a general assignment for the benefit of creditors or (f) the Company or any Material Subsidiary taking any action
for the purpose of effecting any of the foregoing. 
 “Lien” means with respect to any asset (a) any mortgage,
deed of trust, lien, statutory lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset and (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. 

“Material Subsidiary” means any Subsidiary of the Company that is not an Immaterial Subsidiary (as defined in the Indenture).

 “Modification” has the meaning set forth in Section 3.8(d)(1). 

“Notes” has the meaning set forth in the recitals. 

“Note Documents” means the Indenture, the Notes and the Security Documents securing the Obligations in respect thereof. 

“Obligations” means all unpaid principal of and accrued and unpaid interest on any Funded Debt, all accrued and unpaid
fees and all expenses, reimbursements, indemnities and other obligations and indebtedness (including interest accruing during the pendency of any bankruptcy, insolvency, receivership, examinership or other similar proceeding, regardless of

  
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whether allowed or allowable in such proceeding), obligations and liabilities of any Grantor to any of the Secured Parties and the Collateral Trustee or any indemnified party, individually or
collectively, existing on the date hereof or arising hereafter, direct or indirect, joint or several, absolute or contingent, matured or unmatured, liquidated or unliquidated, secured or unsecured, arising by contract, operation of law or otherwise,
arising or incurred under any Secured Debt Document or any Security Document or in respect of any of the loans made or reimbursement or other obligations incurred or any of the letters of credit or other instruments at any time evidencing any
thereof. 
 “Officer’s Certificate” means a certificate with respect to compliance with a condition or covenant
provided for in this Agreement, signed on behalf of the Company by an authorized officer of the Company (any certifications or representations therein in such authorized officer’s capacity and not in his or her individual capacity), including:

 (a)    a statement that the Person making such certificate has read such covenant or condition; 

(b)    a statement that, in the opinion of such Person (in such Person’s capacity as an officer and
not in his or her individual capacity), he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been satisfied; and 

(c)    a statement as to whether or not, in the opinion of such Person (in such Person’s capacity as
an officer and not in his or her individual capacity), such condition or covenant has been satisfied. 
 “Permitted Prior
Lien” means any Lien that has priority over the Lien granted to the Collateral Trustee for the benefit of the Secured Parties and which Lien was permitted under the applicable Secured Debt Document. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Priority Lien” means a Lien granted, or purported to be
granted, pursuant to a Security Document to the Collateral Trustee, at any time, upon any property of any Grantor to secure Secured Obligations. 

“Reaffirmation Agreement” means an agreement reaffirming the security interests granted to the Collateral Trustee in
substantially the form attached as Exhibit 1 to Exhibit A of this Agreement. 
 “Second Lien
Collateral Agent” means U.S. Bank National Association, in its capacity as collateral agent under the Second Lien Note Documents, and any successors and assigns in such capacity. 

“Second Lien Indenture” means that certain Indenture, dated as of September 23, 2019, among the Company, the guarantors
party thereto, the Second Lien Trustee and the Second Lien Collateral Agent, as amended, restated, supplemented or otherwise modified from time to time not in violation of the Second Lien Intercreditor Agreement. 

  
 7 

 “Second Lien Intercreditor Agreement” means the Amended and Restated
Intercreditor Agreement, dated as of August 17, 2020, among the Company, the other Grantors, the Collateral Trustee and the Second Lien Collateral Agent. 

“Second Lien Note Documents” means the Second Lien Indenture, the Second Lien Notes, the Note Guarantees (as defined in the
Second Lien Indenture), the Second Lien Security Agreement and the other related security documents, each as contemplated under the Second Lien Indenture, as amended, restated, supplemented or otherwise modified from time to time not in violation of
the Second Lien Intercreditor Agreement. 
 “Second Lien Notes” means the 6.250% Senior Secured Notes Due 2024 issued by
the Company pursuant to the Second Lien Indenture in the principal amount of $525,000,000.00. 
 “Second Lien Security
Agreement” means that certain Security Agreement, dated as of the September 23, 2019, among the Second Lien Collateral Agent and the Grantors, as amended, restated, supplemented or otherwise modified from time to time not in violation
of the Second Lien Intercreditor Agreement. 
 “Second Lien Trustee” means U.S. Bank National Association, in its capacity
as trustee under the Second Lien Note Documents, and any successors and assigns in such capacity. 
 “Secured Credit
Facility” means a Credit Facility the obligations under which are secured on a pari passu basis with the other Secured Obligations and that was permitted to be incurred and permitted to be so secured under each applicable Secured
Debt Document. 
 “Secured Debt” means: 

(1)    Funded Debt incurred on the date hereof or hereafter under the Indenture (including any related
exchange notes) that was permitted to be incurred and secured under each applicable Secured Debt Document; 

(2)    any other Funded Debt that is secured by a Priority Lien and that was permitted to be incurred and
permitted to be so secured under each applicable Secured Debt Document; provided, in the case of any Funded Debt referred to in this clause (2), that: 

(a)    on or before the date on which such Funded Debt is incurred by the applicable Grantor, such Funded
Debt is designated by the Company as “Secured Debt” for the purposes of the Secured Debt Documents in an Additional Secured Debt Designation executed and delivered in accordance with Section 3.8(a); 

(b)    unless such Funded Debt is issued under an existing Secured Debt Document for any Series of Secured
Debt whose Secured Debt Representative is already party to this Agreement, the Secured Debt Representative for such Funded Debt executes and delivers a Collateral Trust Agreement Joinder in accordance with Section 3.8(b);
and 

  
 8 

 (c)    all other requirements set forth in
Section 3.8 have been complied with. 
 For the avoidance of doubt, Hedging Obligations and Banking Services Obligations shall not
constitute Secured Debt but may constitute Secured Obligations. 
 “Secured Debt Default” means the occurrence and
continuance of any matured “Event of Default” or similar term as defined in the Indenture or any other Secured Debt Document, or any other event or condition that, under the terms of any credit agreement, indenture or other agreement
governing any Series of Secured Debt causes, or permits holders of Secured Debt to cause, the Secured Debt to become immediately due and payable, in each case, after all applicable grace periods have expired. 

“Secured Debt Documents” means the Indenture and any other indenture, credit agreement or other agreement related to
any Secured Debt. 
 “Secured Debt Representative” means: 

(a)    in the case of the Notes, the Indenture Trustee; and 

(b)    in the case of any other Series of Secured Debt, the trustee, agent or representative of the holders
of such Series of Secured Debt who maintains the transfer register for such Series of Secured Debt and is appointed as a representative of the Secured Debt (for purposes related to the administration of the Security Documents) pursuant to the credit
agreement, indenture or other agreement governing such Series of Secured Debt, and who has executed a Collateral Trust Agreement Joinder. 

“Secured Obligations” means the Secured Debt and all Obligations in respect of Secured Debt, together with all Hedging
Obligations and Banking Services Obligations and all guarantees of any of the foregoing. 
 “Secured Parties” means the
holders of the Secured Obligations, each Secured Debt Representative and the Collateral Trustee. 
 “Security
Documents” means this Agreement, each Reaffirmation Agreement, each Collateral Trust Agreement Joinder, and all security agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, collateral agency
agreements, control agreements or other grants or transfers for security executed and delivered by any Grantor creating (or purporting to create) a Lien upon Collateral in favor of the Collateral Trustee, for the benefit of any of the Secured
Parties, in each case, as amended, modified, renewed, restated or replaced, in whole or in part, from time to time, in accordance with its terms and Section 7.1. 

“Series of Secured Debt” means, severally, the Secured Debt under (i) the Indenture and (ii) each other
issue or series of Secured Debt for which a single transfer register is 

  
 9 

 
maintained. For the avoidance of doubt, all reimbursement obligations in respect of letters of credit issued pursuant to a Secured Debt Document shall be part of the same Series of Secured Debt
as all other Secured Debt incurred pursuant to such Secured Debt Document. 
 “Subsidiary” means, with
respect to any Person, any corporation, limited liability company, partnership, association or other entity 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 by such Person. 

“Swap Agreement” means any agreement with respect to any swap, forward, future or derivative transaction or
option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or
value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or
consultants of the Company or its Restricted Subsidiaries (as defined in the Secured Debt Documents) shall be a Swap Agreement. 

“Total Credit Facility Exposure” means, with respect to a Secured Credit Facility, the sum of (a) the aggregate
outstanding principal amount in respect thereof (including the face amount of outstanding letters of credit whether or not then available or drawn) and (b) the aggregate unfunded commitments to extend credit thereunder which, if funded, would
constitute Secured Debt. 
 “Trust Estate” has the meaning set forth in Section 2.1. 

“UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York; provided,
however, that in the event that, by reason of mandatory provisions of law, any or all of the perfection or priority of, or remedies with respect to, any Collateral is governed by the Uniform Commercial Code or any other similar law as enacted
and in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code or such other similar law as enacted and in effect in such other jurisdiction solely for purposes of the provisions
hereof relating to the perfection of security interests and priority or remedies with respect thereto. 

Section 1.2    Other Definition Provisions. 

(a)    The words “hereof,” “herein,” “hereto” and “hereunder” and words of
similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section and Exhibit references, are to this Agreement unless otherwise specified. References to any
Exhibit shall mean such Exhibit as amended or supplemented from time to time in accordance with this Agreement. 

(b)    The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of
such terms. 

  
 10 

 (c)    The expressions “payment in full,” “paid in
full” and any other similar terms or phrases when used herein shall mean payment in cash in immediately available funds. 

(d)    The use herein of the word “include” or “including,” when following any general statement,
term or matter, shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not
non-limiting language (such as “without limitation” or “but not limited to” or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other
items or matters that fall within the broadest possible scope of such general statement, term or matter. 
 (e)    All
references herein to provisions of the UCC shall include all successor provisions under any subsequent version or amendment to any Article of the UCC. 

(f)    All terms used in this Agreement that are defined in Article 9 of the UCC and not otherwise defined herein
have the meanings assigned to them in Article 9 of the UCC. 
 (g)    Notwithstanding anything to the contrary in this
Agreement, any references contained herein to any section, clause, paragraph, definition or other provision of the Indenture (including any definition contained therein) shall be deemed to be a reference to such section, clause, paragraph,
definition or other provision as in effect on the date of this Agreement as amended or modified from time to time if such amendment or modification has been made in accordance with the Indenture. 

This Agreement and the other Security Documents will be construed without regard to the identity of the party who drafted it and as though the
parties participated equally in drafting it. Consequently, each of the parties acknowledges and agrees that any rule of construction that a document is to be construed against the drafting party will not be applicable either to this Agreement or the
other Security Documents. 
 ARTICLE II 

THE TRUST ESTATE 

Section 2.1    Declaration of Trust. 

To secure the payment of the Secured Obligations, each of the Grantors hereby confirms the grants to the Collateral Trustee, and the
Collateral Trustee hereby accepts and agrees to hold in trust under this Agreement for the benefit of all current and future Secured Parties, a security interest in all of such Grantor’s right, title and interest in, to and under all Collateral
under any Security Document (collectively the “Trust Estate”). 
 The Collateral Trustee and its successors and assigns
under this Agreement will hold the Trust Estate in trust for the benefit solely and exclusively of all current and future Secured Parties as security for the payment of all present and future Secured Obligations. 

  
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 Notwithstanding the foregoing, if at any time: 

(1)    all Liens securing the Secured Obligations have been released as provided in
Section 4.1; 
 (2)    the Collateral Trustee holds no other property in trust
as part of the Trust Estate; and 
 (3)    no monetary obligation (other than indemnification and other
contingent obligations for which no claim or demand for payment, whether oral or written, has been made at such time) is outstanding and payable under this Agreement to the Collateral Trustee or any of its
co-trustees or agents (whether in an individual or representative capacity); 
 then the trust
arising hereunder will terminate, except that all provisions set forth in Sections 7.9 and 7.10 that are enforceable by the Collateral Trustee or any of its co-trustees or
agents (whether in an individual or representative capacity) will remain enforceable in accordance with their terms. 
 The parties further
declare and covenant that the Trust Estate will be held and distributed by the Collateral Trustee subject to the further agreements herein. 

Section 2.2    Collateral Shared Equally and Ratably. Subject to Section 4.4, the
parties to this Agreement agree that the payment and satisfaction of all of the Secured Obligations will be secured equally and ratably by the Liens established in favor of the Collateral Trustee for the benefit of the Secured Parties under the
Security Documents, notwithstanding the time of incurrence of any Secured Obligations or the date, time, method or order of grant, attachment or perfection of any Liens securing such Secured Obligations and notwithstanding any provision of the UCC,
the time of incurrence of any Series of Secured Debt or the time of incurrence of any other Secured Obligation, or any other applicable law or any defect or deficiencies in, or failure to perfect or lapse in perfection of, or avoidance as a
fraudulent conveyance or otherwise of, the Liens securing the Secured Obligations or the subordination of such Liens to any other Liens, or any other circumstance whatsoever, whether or not any Insolvency or Liquidation Proceeding has been commenced
against any Grantor, it is the intent of the parties that, and the parties hereto agree for themselves and Secured Parties represented by them that all Secured Obligations will be and are secured equally and ratably by all Priority Liens at any time
granted by any Grantor to secure any Obligations in respect of any Series of Secured Debt, whether or not upon property otherwise constituting collateral for such Series of Secured Debt, and that all such Priority Liens will be enforceable by the
Collateral Trustee for the benefit of all Secured Parties equally and ratably; provided, however, that notwithstanding the foregoing, (x) this provision will not be violated with respect to any particular Collateral and any
particular Series of Secured Debt if the Secured Debt Documents in respect thereof prohibit the applicable Secured Parties from accepting the benefit of a Lien on any particular asset or property or such Secured Party otherwise expressly declines in
writing to accept the benefit of a Lien on such asset or property and (y) this provision will not be violated with respect to any particular Hedging Obligations or Banking Services Obligations if the Hedge Agreement or agreement giving rise to
Banking Services Obligations prohibit the applicable Hedge Provider or 

  
 12 

 
Banking Services Provider from accepting the benefit of a Lien on any particular asset or property or such Hedge Provider or Banking Services Provider otherwise expressly declines in writing to
accept the benefit of a Lien on such asset or property; provided, further, that the proceeds of any collection, sale, foreclosure or other realization upon, or exercise of any right or remedy with respect to, any Collateral and the
proceeds thereof, and the proceeds of any title insurance or other insurance policy required under any Secured Debt Document or otherwise covering the Collateral will be applied in accordance with Section 3.4. 

ARTICLE III 

OBLIGATIONS AND POWERS OF COLLATERAL TRUSTEE 

Section 3.1    Appointment and Undertaking of the Collateral Trustee 

(a)    Each Hedge Provider, each Banking Services Provider, each Secured Debt Representative and each other Secured Party
acting through its respective Secured Debt Representative and/or by its acceptance of the benefits of the Security Documents hereby appoints Wilmington Trust, National Association (and any co-agents, sub-agents or attorneys-in-fact appointed by the Collateral Trustee for any of the purposes listed below (and which shall be entitled
to the benefit of the provisions of this Agreement)) to serve as collateral trustee hereunder and under the other Security Documents as provided herein and therein. Subject to, and in accordance with, this Agreement, the Collateral Trustee will
have, as collateral trustee, for the benefit solely and exclusively of the present and future Secured Parties, in accordance with the terms of this Agreement and subject to applicable law, the power and authority to: 

(1)    accept, enter into, hold, maintain, administer and enforce all Security Documents, including all
Collateral subject thereto, and all Liens created thereunder, perform its obligations hereunder and under the Security Documents and protect, exercise and enforce the interests, rights, powers and remedies granted or available to it under, pursuant
to or in connection with the Security Documents; 
 (2)    take all lawful and commercially reasonable
actions permitted under the Security Documents that it may deem necessary or advisable to protect or preserve its interest in the Collateral subject thereto and such interests, rights, powers and remedies; 

(3)    deliver and receive notices pursuant to this Agreement and the Security Documents; 

(4)    sell, assign, collect, assemble, foreclose on, institute legal proceedings with respect to, or
otherwise exercise or enforce the rights and remedies of a secured party (including a mortgagee, trust deed beneficiary and insurance beneficiary or loss payee) with respect to the Collateral under the Security Documents and its other interests,
rights, powers and remedies; 
 (5)    remit as provided in Section 3.4 all
cash proceeds received by the Collateral Trustee from the collection, foreclosure or enforcement of its interest in the Collateral under the Security Documents or any of its other interests, rights, powers or remedies; 

  
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 (6)    execute and deliver (i) amendments and
supplements to the Security Documents as may be required or advisable from time to time and in accordance with Section 7.1 and (ii) acknowledgements of Collateral Trust Agreement Joinders delivered pursuant to
Section 3.8, 3.9 or 7.18 hereof; 
 (7)    promptly release any
Lien granted to it by any Security Document upon any Collateral if and as required by Section 3.2 or Article IV; and 

(8)    act or decline to act in connection with any enforcement of Liens as provided in
Section 3.3. 
 (b)    Each party to this Agreement acknowledges and consents and/or by its
acceptance of the benefits of the Security Documents hereby acknowledges and consents to the undertaking of the Collateral Trustee set forth in Section 3.1(a) and agrees to each of the other provisions of this Agreement
applicable to the Collateral Trustee. 
 (c)    Notwithstanding anything to the contrary contained in this Agreement,
the Collateral Trustee will not commence any exercise of remedies or any foreclosure actions or otherwise take any action or proceeding against any of the Collateral unless and until it shall have been directed in writing by an Act of Required
Secured Parties and then only in accordance with the provisions of this Agreement. 
 (d)    The Collateral Trustee is
authorized to enter into any Approved Intercreditor Agreement (and any amendments, amendments and restatements, restatements or waivers of or supplements to or other modifications to, and extensions, restructuring, renewals, replacements of, such
agreements) in connection with the incurrence by any Grantor of any Funded Debt permitted by the terms of the applicable Secured Debt Documents to be secured by the Collateral on a pari passu or junior priority secured basis, in each case in
order to permit such Funded Debt to be secured by a valid, perfected Lien (with such priority as may be designated by such Grantor to the extent such priority is permitted by the applicable Secured Debt Documents), and the parties hereto acknowledge
that each Approved Intercreditor Agreement is (if entered into) binding upon them. 
 (e)    Notwithstanding anything
to the contrary contained in this Agreement, none of the Company, the other Grantors or any of their respective Affiliates may serve as Collateral Trustee. 

Section 3.2    Release or Subordination of Liens. The Collateral Trustee will not release or
subordinate any Lien granted in favor of the Collateral Trustee or consent to the release or subordination of any Lien granted in favor of the Collateral Trustee, except: 

(a) other than as set forth in clause (b) of this Section 3.2, solely with respect to subordination, as
directed by an Act of Required Secured Parties; 

  
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 (b)    upon the reasonable request of any Grantor, to subordinate any
Lien in favor of the Collateral Trustee to the holder of any Permitted Prior Lien identified in clause (m) of the definition of “Permitted Liens” in the Indenture (and any corresponding section of any other Secured Debt Document) to
the extent that the contract, license, agreement, instrument or other document evidencing or creating such Permitted Prior Lien requires that the Liens in favor of the Collateral Trustee be subordinated to the holder of such Permitted Prior Lien;

 (c)    as required or permitted by Article IV; or 

(d)    as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent
jurisdiction. 
 Section 3.3    Enforcement of Liens. If the Collateral Trustee at any time receives written
notice that any Secured Debt Default has occurred under any Secured Debt Document that entitles the Collateral Trustee to foreclose upon, collect or otherwise enforce its Liens under the Security Documents, the Collateral Trustee will promptly
deliver written notice thereof to each Secured Debt Representative. Thereafter, the Collateral Trustee may await direction by an Act of Required Secured Parties and will act, or decline to act, as directed by an Act of Required Secured Parties, in
the exercise and enforcement of the Collateral Trustee’s interests, rights, powers and remedies in respect of the Collateral or under the Security Documents or applicable law and, following the initiation of such exercise of remedies, the
Collateral Trustee will act, or decline to act, with respect to the manner of such exercise of remedies as directed by an Act of Required Secured Parties. Unless it has been directed to the contrary by an Act of Required Secured Parties, the
Collateral Trustee in any event may (but will not be obligated to) take or refrain from taking such action with respect to any Secured Debt Default as it may deem advisable and in the interest of the Secured Parties. 

Section 3.4    Application of Proceeds. 

(a)    The Collateral Trustee will apply the proceeds of any collection, sale, foreclosure or other realization upon, or
exercise of any right or remedy with respect to, any Collateral and the proceeds thereof, and the proceeds of any title insurance or other insurance policy required under any Secured Debt Document or otherwise covering the Collateral in the
following order of application: 
 FIRST, to the payment of all amounts payable under this Agreement on account of the
Collateral Trustee’s fees and any reasonable and documented out-of-pocket legal fees, costs and expenses or other liabilities of any kind incurred by, or owed to,
the Collateral Trustee or any co-trustee or agent of the Collateral Trustee in connection with performing its obligations under any Security Document or this Agreement (including, but not limited to,
indemnification obligations arising under this Agreement or any Security Document that are then due and payable); 
 SECOND,
to the respective Secured Debt Representatives, Hedge Providers and Banking Services Providers on a pro rata basis for each Series of Secured Debt, Hedging Obligations and Banking Services Obligations that are secured by such Collateral (or, where
such Hedging Obligations or Banking 

  
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Services Obligations are represented by a Secured Debt Representative, to such Secured Debt Representative on their behalf) for application to the payment of all such outstanding Secured Debt and
any such other Secured Obligations that are then due and payable and so secured (for application in such order as may be provided in the Secured Debt Documents applicable to the respective Secured Obligations) in an amount sufficient to pay in full
in cash all outstanding Secured Debt and all other Secured Obligations that are then due and payable (including all interest and fees accrued thereon after the commencement of any Insolvency or Liquidation Proceeding at the rate, including any
applicable post-default rate, specified in the Secured Debt Documents, even if such interest is not enforceable, allowable or allowed as a claim in such proceeding, and including the discharge or cash collateralization (in an amount not less than
the percentage of the face amount required by the applicable Secured Debt Document) of all outstanding letters of credit constituting Secured Debt); and 

THIRD, any surplus remaining after the payment in full in cash of amounts described in the preceding clauses will be paid to
the Company or the applicable Grantor, as the case may be, its successors or assigns, or to such other Persons as may be entitled to such amounts under applicable law or as a court of competent jurisdiction may direct. 

Notwithstanding the foregoing, if any Lien on any Collateral no longer secures the Obligations under any Series of Secured Debt as described
below in Section 4.4, then such Series of Secured Debt and any related Secured Obligations of that Series thereafter shall not be entitled to share in the proceeds of any such Collateral. 

(b)    This Section 3.4 is intended for the benefit of, and will be enforceable as a third
party beneficiary by, each present and future Secured Party. The Secured Debt Representative of each future Series of Secured Debt will be required to deliver a Collateral Trust Agreement Joinder as provided in Section 3.8
at the time of incurrence of such Series of Secured Debt. 
 (c)    In connection with the application of proceeds
pursuant to Section 3.4(a), except as otherwise directed by an Act of Required Secured Parties, the Collateral Trustee may sell any non-cash proceeds for cash prior to the application
of the proceeds thereof. 
 (d)    In making the determinations and allocations in accordance with
Section 3.4(a), the Collateral Trustee may conclusively rely upon information supplied by the relevant Secured Debt Representative, Hedge Provider and Banking Services Provider as to the amounts of unpaid principal and
interest and other amounts outstanding with respect to its respective Secured Debt and any other Secured Obligations and any amounts under any Hedge Agreements included in the Secured Obligations. In calculating the amount of Secured Obligations
owed to any Hedge Provider, the Secured Obligations owed to such Hedge Provider shall be determined by the relevant Hedge Provider in accordance with the terms of the relevant Hedge Agreement; provided that, notwithstanding anything herein or in any
Secured Debt Document to the contrary, in the event that any such Hedge Agreement consists of more than one confirmation or trade or in the event that the relevant Hedge Provider is a party to any other

  
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Hedge Agreement, solely for purposes of calculating the Secured Obligations owed to such Hedge Provider under this Agreement, such calculation shall setoff and net all Obligations owing to such
Hedge Provider or owed by such Hedge Provider under each such confirmation or trade and/or additional Hedge Agreement. 

Section 3.5    Powers of the Collateral Trustee. 

(a)    The Collateral Trustee is irrevocably authorized and empowered to enter into and perform its obligations and
protect, perfect, exercise and enforce its interest, rights, powers and remedies under the Security Documents and applicable law and in equity and to act as set forth in this Article III or, subject to the other provisions
of this Agreement, as requested in any lawful directions given to it from time to time in respect of any matter by an Act of Required Secured Parties. 

(b)    In the absence of gross negligence or willful misconduct on the part of any Secured Debt Representative or Secured
Party (as determined by a court of competent jurisdiction by final and nonappealable judgment), no Secured Debt Representative or Secured Party (other than the Collateral Trustee) will have any liability whatsoever for any act or omission of the
Collateral Trustee. 
 Section 3.6    Documents and Communications. The Collateral Trustee will permit each
Secured Debt Representative and each Secured Party, upon reasonable written notice from time to time, to inspect and copy, at the cost and expense of the party requesting such copies, any and all Security Documents and other documents, notices,
certificates, instructions or communications received or delivered by the Collateral Trustee in its capacity as such. 

Section 3.7    For Sole and Exclusive Benefit of the Secured Parties. The Collateral Trustee will accept,
hold, administer and enforce all Liens on the Collateral at any time pledged and, if applicable, delivered to it and all other interests, rights, powers and remedies at any time granted to or enforceable by the Collateral Trustee and all other
property of the Trust Estate solely and exclusively for the benefit of the present and future Secured Parties, and will distribute all proceeds received by it in realization thereon or from enforcement thereof solely and exclusively pursuant to the
provisions of Section 3.4. 
 Section 3.8    Additional Secured Debt. 

(a)    The Collateral Trustee will, as collateral trustee hereunder, perform its undertakings set forth in this Agreement
with respect to any Secured Debt that is issued or incurred after the date hereof if the designated Secured Debt Representative identified pursuant to this Section 3.8 signs a Collateral Trust Agreement Joinder and delivers
the same to the Collateral Trustee; provided that, if such Funded Debt is issued under an existing Secured Debt Document for any Series of Secured Debt whose Secured Debt Representative is already party to this Agreement, no such Collateral
Trust Agreement Joinder shall be a condition to the performance by the Collateral Trustee of its undertakings set forth in this Agreement with respect to such Funded Debt. 

(b) The Company will be permitted to designate as Secured Debt hereunder any Funded Debt that is incurred by any Grantor after the date of
this Agreement in 

  
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accordance with the terms of the applicable Secured Debt Documents. The Company may only effect such designation by delivering to the Collateral Trustee an Additional Secured Debt Designation
that: 
 (1)    states that such Grantor intends to incur additional Funded Debt (“Additional
Secured Debt”) which will be Secured Debt not prohibited by any Secured Debt Document to be incurred and secured by a Priority Lien equally and ratably with all previously existing and future Secured Debt; 

(2)    specifies the name and address of the Secured Debt Representative (or, in the case of any
Additional Secured Debt of which there is a single holder, such holder) for such Additional Secured Debt for purposes of this Agreement including Section 7.6; 

(3)    states that such Grantor and any other Grantors party thereto have duly authorized and executed (if
applicable) all relevant filings and recordations to ensure that the Additional Secured Debt is secured by the Collateral in accordance with the Security Documents; and 

(4)    attaches as Exhibit 1 to such Additional Secured Debt Designation a Reaffirmation Agreement in
substantially the form attached as Exhibit 1 to Exhibit A of this Agreement, which Reaffirmation Agreement has been duly executed by each Grantor. 

The Company shall deliver a copy of the Additional Secured Debt Designation and the related Collateral Trust Agreement Joinder to each then
existing Secured Debt Representative; provided that the failure to do so shall not affect the status of such debt as Additional Secured Debt if the other requirements of this Section 3.8 are complied with. Notwithstanding
the foregoing, nothing in this Agreement will be construed to allow any Grantor to incur additional Funded Debt or Liens if prohibited by the terms of any Secured Debt Documents. 

Notwithstanding the foregoing, (x) the incurrence of revolving credit obligations under commitments that have previously been designated
as Secured Debt, (y) the issuance of letters of credit and incurrence of reimbursement obligations in respect thereof under commitments that have previously been designated as Secured Debt and (z) the incurrence of any incremental
facilities under any other Credit Facility that constitutes Additional Secured Debt shall, in each case, automatically constitute Secured Debt and shall not require compliance with the procedures set forth in Section 3.8(a)
and this Section 3.8(b). 
 (c) With respect to any Secured Debt that is issued or incurred after the date hereof,
each Grantor agrees to take such actions (if any) as necessary or as otherwise may from time to time reasonably be requested by the Collateral Trustee or any Secured Debt Representative and enter into such amendments, modifications and/or
supplements to the then existing Security Documents (or execute and deliver such additional Security Documents) as 

  
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may from time to time be reasonably requested by such Persons (including as contemplated by clause (d) below), to ensure that the Additional Secured Debt is secured by, and entitled to the
benefits of, the relevant Security Documents, and each Secured Party (by its acceptance of the benefits hereof and the execution of this Agreement) hereby agrees to, and authorizes the Collateral Trustee to enter into, any such amendments,
modifications and/or supplements (and additional Security Documents). Each Grantor hereby further agrees that, if there are any recording, filing or other similar fees payable in connection with any of the actions to be taken pursuant to this
Section 3.8(c) or Section 3.8(d), all such amounts shall be paid by, and shall be for the account of, the Grantors, on a joint and several basis. 

(d)    Without limitation of the foregoing, each Grantor agrees to take the following actions with respect to any real
property Collateral with respect to all Additional Secured Debt: 
 (1)    each applicable Grantor shall
enter into, and deliver to the Collateral Trustee a mortgage modification (each such modification, a “Modification”) or new mortgage or deed of trust (only to the extent a new mortgage or deed of trust is required to effect such
Modification) with regard to each real property located in the United States of America subject to a mortgage or deed of trust (each such mortgage or deed of trust a “Mortgage,” and each such property a “Mortgaged
Property”), with such changes as may be required to account for local law matters, at the time of such incurrence, in proper form for recording in all applicable jurisdictions, and each applicable Grantor is jointly and severally liable to
pay all filing and recording fees and taxes, documentary stamp taxes and other taxes, charges and fees, if any, necessary for filing or recording in the recording office of each jurisdiction where such real property to be encumbered thereby is
situated; and 
 (2)    in connection with any Modification required under clause (1) above, the
Company or the applicable Grantor will cause to be delivered such other documents, instruments and further assurances as reasonably requested by a Secured Debt Representative in order to create, perfect and preserve the security interests granted to
the Collateral Trustee for the benefit of the Secured Parties in such real property Collateral. 

Section 3.9    Hedging Obligations and Banking Services Obligations. 

(a)    The Collateral Trustee will, as collateral trustee hereunder, also perform its undertakings set forth in
Section 3.1(a) with respect to any Hedging Obligations or Banking Services Obligations under a Hedge Agreement or agreement giving rise to Banking Services Obligations, as applicable, that are incurred after the date
hereof. 
 (b)    With respect to any Hedging Obligations, the Company and each of the other Grantors agrees to take
such actions (if any) as necessary or as otherwise may from time to time reasonably be requested by the Collateral Trustee or any Secured Debt Representative, and enter into such amendments, modifications and/or supplements to the then existing
Security Documents (or execute and deliver such additional Security Documents) as 

  
 19 

 
may from time to time be reasonably requested by such Persons, to ensure that the Hedging Obligations incurred after the date hereof are secured by, and entitled to the benefits of, the relevant
Security Documents, and each Secured Party (by its acceptance of the benefits hereof) hereby agrees to, and authorizes the Collateral Trustee to enter into, any such amendments, modifications and/or supplements (and additional Security Documents).
The Company and each Grantor hereby further agree that if there are any recording, filing or other similar fees or taxes payable in connection with any of the actions to be taken pursuant to this Section 3.9(b), all such
amounts shall be paid by, and shall be for the account of, the Company and the respective Grantors, on a joint and several basis. 

ARTICLE IV 

OBLIGATIONS ENFORCEABLE BY THE GRANTORS 

Section 4.1    Release of Liens on Collateral. 

(a)    The Collateral Trustee’s Liens upon the Collateral will be automatically, and without the need for any
consent or approval of any Secured Party or the Collateral Trustee (except as contemplated by clauses (6) and (7) below), released in any of the following circumstances: 

(1)    in whole, upon Discharge of Secured Obligations; 

(2)    as to any Collateral that is sold, transferred or otherwise disposed of by the Company or any other
Grantor (other than to the Company or another Grantor) in a transaction or other circumstance which is not prohibited by, and, to the extent applicable, in accordance with, all applicable Secured Debt Documents at the time of such sale, transfer or
other disposition or to the extent of such Collateral sold, transferred or otherwise disposed of; 

(3)    as to any Collateral comprised of property leased to the Company or any other Grantor, upon
termination or expiration of such lease; 
 (4)    as to any Collateral sold in a foreclosure or similar
transaction or in connection with any other exercise of remedies in accordance with the terms of this Agreement and the other Security Documents; 

(5)    as to any property of a Grantor that becomes Excluded Property (as defined in the Indenture); 

(6)    as to a release of less than all or substantially all of the Collateral (other than pursuant to
clause (1), (2), (3), (4) or (5) above), if directed by an Act of Required Secured Parties; and 

(7)    as to a release of all or substantially all of the Collateral (other than pursuant to clause
(1) above), if consent to release of that Collateral has been given by the Secured Debt Representatives representing the requisite percentage or number of holders of each Series of Secured Debt at the time outstanding as provided for in the
applicable Secured Debt Documents and such release has become effective in accordance with such consent. 

  
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 (b)    A Grantor shall be automatically released from its obligations
under this Agreement and the other Security Documents and the Collateral Trustee’s Liens upon the Collateral of such Grantor and the capital stock or other equity interests of such Grantor shall be automatically released if such Grantor ceases
to be a Restricted Subsidiary (as defined in each applicable Secured Debt Document). 
 (c)    The Collateral Trustee
agrees for the benefit of the Company and the other Grantors that if the Collateral Trustee at any time receives: 

(1)    an Officer’s Certificate stating that the conditions precedent in this Agreement and all other
Secured Debt Documents, if any, relating to the release of the applicable Collateral have been complied with; 

(2)    the proposed instrument or instruments releasing such Lien as to such property in recordable form,
if applicable; and 
 (3)    in the case of a release requested pursuant to
Section 4.1(a)(6) or Section 4.1(a)(7), the written confirmation of each Secured Debt Representative that consent from the applicable Secured Parties that are required to consent to such release
has been obtained; 
 then the Collateral Trustee will promptly (i) execute (with such acknowledgements and/or notarizations as are required), deliver
and provide the Company or such Grantor (or its designee or counsel) authorization to file (if applicable) such releases and such other documents (including UCC termination statements, reconveyances and customary
pay-off letters) as the Company or such Grantor may reasonably request to evidence and effectuate such release to the Company or such Grantor and (ii) take such other actions (including return of any
Collateral to the Company or such Grantor) as the Company or such Grantor may reasonably request in connection with such release, in each case, on or prior to the later of (x) the date specified in such request for such release and (y) the
fifth Business Day after the date of receipt of the items required by this Section 4.1(c) by the Collateral Trustee. 

(d)    The Collateral Trustee hereby agrees that in the case of any release pursuant to clause (2) of
Section 4.1(a), if the terms of any such sale, transfer or other disposition require the payment of the purchase price to be contemporaneous with the delivery of the applicable release, then, at the written request of and
at the expense of the Company or other applicable Grantor, the Collateral Trustee will deliver the release under customary escrow or other arrangements that permit such contemporaneous payment and delivery of the release. 

Section 4.2    Delivery of Copies to Secured Debt Representatives. The Company will deliver to each Secured
Debt Representative a copy of each document delivered to the Collateral Trustee pursuant to Section 4.1(c). The Secured Debt Representatives will not be obligated to take notice thereof or to act thereon. 

  
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 Section 4.3    Preparing, Filing or Recording Release
Documentation. In connection with any release of Collateral or any Grantor pursuant to Section 4.1(a) or (b), the Collateral Trustee shall, promptly upon the request of the Company or the applicable Grantor,
(i) execute, and deliver all agreements, instruments or documents to effect such release and (ii) provide to the Company or the applicable Grantor (or its designee or counsel) authorization to serve, file, register or record any such
agreement, instrument or document. 
 Section 4.4    Satisfaction of Obligations in Respect of any Series of
Secured Debt. 
 (a)    Satisfaction of Obligations in Respect of the Notes. Notwithstanding anything herein
to the contrary, in addition to any release pursuant to Section 4.1 hereof, the Collateral Trustee’s Priority Lien will no longer secure the Notes outstanding under the Indenture or any other Obligations under the
Indenture, and the right of the holders of the Notes and such Obligations to the benefits and proceeds of the Collateral Trustee’s Priority Lien on the Collateral will automatically terminate and be discharged: 

(1)    upon satisfaction and discharge of the Indenture as set forth under Article 8 of the Indenture;

 (2)    upon a legal defeasance or covenant defeasance of the Notes as set forth under Article 8 of
the Indenture; 
 (3)    upon payment in full of principal, interest and all Obligations on the Notes
issued under the Indenture; or 
 (4)    in whole or in part, with the consent of the holders of the
requisite percentage of Notes in accordance with Article 9 of the Indenture, including consents obtained in connection with a tender offer or exchange offer for, or purchase of, Notes. 

(b)    Satisfaction of Obligations in Respect of any Series of Secured Debt other than the
Notes.    Notwithstanding anything herein to the contrary, in addition to any release pursuant to Section 4.1 hereof, (i) as to any Series of Secured Debt (other than the Notes), the Collateral
Trustee’s Priority Lien automatically will no longer secure such Series of Secured Debt if the requirements of a Discharge of Secured Obligations are satisfied with respect to such Series of Secured Debt. 

(c)    The Collateral Trustee shall not be deemed to have knowledge of any Discharge of Secured Obligations with respect
to any Series of Secured Debt unless and until written notice thereof is delivered by the applicable Secured Debt Representative to the Collateral Trustee. 

  
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 ARTICLE V 

IMMUNITIES OF THE COLLATERAL TRUSTEE 

Section 5.1    No Implied Duty. The Collateral Trustee will not have any fiduciary duties or other implied
duties nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents (regardless of whether a Secured Debt Default has occurred and is continuing). The Collateral Trustee
will not be required to take any action that is contrary to applicable law or any provision of this Agreement or the other Security Documents. It is understood and agreed that the use of the term “trustee” herein or in any other Security
Document (or any other similar term) with reference to a Collateral Trustee is not intended to connote any fiduciary or other implied (or express) obligations arising under agency or trustee doctrine of any applicable law. Instead such term is used
as a matter of market custom, and is intended to create or reflect only an administrative relationship between contracting parties. 

Section 5.2    Appointment of Agents and Advisors. The Collateral Trustee may execute any of the trusts or
powers hereunder or perform any duties hereunder either directly or by or through agents, attorneys, accountants, appraisers or other experts or advisors selected by it in good faith as it may reasonably require and will not be responsible for any
misconduct or negligence on the part of any of them. The exculpatory provisions of this Article shall apply to any such sub-agent. 

Section 5.3    Other Agreements. 

(a)    The Collateral Trustee has accepted its appointment as Collateral Trustee hereunder. The Collateral Trustee is
authorized and directed to execute and deliver the Security Documents executed by the Collateral Trustee as of the date of this Agreement as well as any additional Security Documents from time to time that are required hereunder or
reasonably requested by a Grantor or a Secured Debt Representative and is (or will be) bound by all such Security Documents upon effectiveness thereof and the Collateral Trustee shall execute all such Security Documents and, in order to perfect the
security interest granted by the Grantors on the Collateral held by such Grantors to the Collateral Trustee on behalf of the Secured Parties and in accordance with the terms of this Agreement, is authorized (but not obligated to) to execute, deliver
and/or file or record (if applicable) any such Security Documents, instruments, financing statements or other documents with the applicable government body; provided, however, that such additional Security Documents do not adversely affect
the rights, privileges, benefits and immunities of the Collateral Trustee. The Collateral Trustee will not otherwise be bound by, or be held obligated by, the provisions of any credit agreement, indenture or other agreement governing Secured
Debt (other than this Agreement and the other Security Documents to which it is a party). In acting under any Security Document, the Collateral Trustee shall enjoy all the rights, protections, immunities and indemnities granted to it hereunder. To
the extent applicable, the Collateral Trustee shall enjoy the same rights, protections, immunities and indemnities afforded to it under the Secured Debt Documents as agent of (or otherwise being appointed to act for the benefit of) the related
Secured Debt Representative or Secured Parties in acting hereunder. 

  
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 (b)    Upon receipt of a Collateral Trust Agreement Joinder, the
Collateral Trustee shall execute the same. 
 (c)    Upon the receipt by the Collateral Trustee of a written request of
the Company signed by an authorized officer (a “Security Document Order”), the Collateral Trustee is hereby authorized to execute and enter into, and if satisfactory in form to the Collateral Trustee, execute and enter into, without
the further consent of any holder of Secured Debt Obligations or any Secured Debt Representative, any Security Document to be executed after the date of this Agreement. Such Security Document Order shall (i) state that it is being delivered to
the Collateral Trustee pursuant to, and is a Security Document Order referred to in, this Section 5.3(c), (ii) instruct the Collateral Trustee to execute and enter into such Security Document and (iii) certify that all covenants and
conditions precedent hereunder and under the Secured Debt Documents to the execution and delivery of the Security Document have been complied with. The holders of Notes, by their acceptance of the Notes, and the holders of Secured Debt Obligations,
by causing a Collateral Trust Joinder to be executed in connection thereto, hereby authorize and direct the Collateral Trustee to execute any such Security Document. 

Section 5.4    Solicitation of Instructions. 

(a)    As to any matter not expressly provided for by this Agreement or the other Security Documents, the Collateral
Trustee may at any time solicit written confirmatory instructions, in the form of an Act of Required Secured Parties, an Officer’s Certificate and Opinion of Counsel (each confirming that all conditions and covenants precedent to such actions
under the Security Documents and all applicable Secured Debt Documents have been complied with) or an order of a court of competent jurisdiction, as to any action that it may be requested or required to take, or that it may propose to take, in the
performance of any of its obligations under this Agreement or the other Security Documents and shall be fully protected and have no responsibility or liability for any losses or damages of any nature that may arise from any action taken or not taken
by the Collateral Trustee in accordance with such written instruction. 
 (b)    No written direction given to the
Collateral Trustee by an Act of Required Secured Parties that in the sole judgment of the Collateral Trustee imposes, purports to impose or might reasonably be expected to impose upon the Collateral Trustee any obligation or liability not set forth
in or arising under this Agreement and the other Security Documents will be binding upon the Collateral Trustee unless the Collateral Trustee elects, at its sole option, to accept such direction. For the avoidance of doubt, Sections 7.9 and 7.10
shall apply with regard to any action taken by the Collateral Trustee in compliance with such request or direction. 

Section 5.5    Limitation of Liability. The Collateral Trustee will not be responsible or liable for any
action taken or omitted to be taken by it hereunder or under any other Security Document, except for its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. In no event
shall the Collateral Trustee be responsible or liable for punitive, special, indirect, incidental or consequential loss or damage of any kind whatsoever (including loss of profit) arising out of or in connection with this Agreement or any other
Security Document or any agreement or transaction contemplated hereby irrespective of whether the Collateral Trustee has been advised 

  
 24 

 
of the likelihood of such loss or damage and regardless of the form of actions;. The Collateral Trustee shall in no event be responsible or liable for any failure or delay in the performance of
its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, pandemics, epidemics, civil or military
disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services or the unavailability of the Federal Reserve Bank wire or telex or other
wire or communication facility. The Collateral Trustee shall have no liability for any action taken, or errors in judgment made, in good faith by it or any of its officers, employees or agents, unless it shall have been grossly negligent in
ascertaining the pertinent facts. The Collateral Trustee shall have no responsibility or liability for any loss which may result from any investment or sale of investment made pursuant to this Agreement. The Collateral Trustee is hereby authorized,
in making or disposing of any investment permitted by this Agreement, to deal with itself (in its individual capacity) or with any one or more of its affiliates, whether it or any such affiliate is acting as agent of the Collateral Trustee or for
any third person or dealing as principal for its own account. The parties hereto acknowledge that the Collateral Trustee is not providing investment supervision, recommendations, or advice. If applicable, the Collateral Trustee shall invest the
Collateral in accordance with an Act of Required Secured Parties. In the absence of such Act of Required Secured Parties, the Collateral shall be held uninvested. Notwithstanding anything to the contrary set forth herein, in no event shall the
Collateral Trustee be liable for interest on any money received by it (including, but not limited to, any negative interest) except as the Collateral Trustee may otherwise agree in writing. In the event that market conditions are such that negative
interest applies to amounts deposited with the Collateral Trustee, the Company shall be responsible for the payment of such interest and the Collateral Trustee shall be entitled to deduct from amounts on deposit with it an amount necessary to pay
such negative interest. For the avoidance of doubt, the compensation, reimbursement and indemnification protections afforded to the Collateral Trustee under Sections 7.9 and 7.10 of this Agreement shall cover any interest-related
expenses incurred by the Collateral Trustee in the performance of its duties hereunder. 

Section 5.6    Documents in Satisfactory Form. The Collateral Trustee will be entitled to require that all
agreements, certificates, opinions, instruments and other documents at any time submitted to it, including those expressly provided for in this Agreement, be delivered to it in a form and with substantive provisions reasonably satisfactory to it;
provided that in no event shall the Collateral Trustee be deemed to be making a representation as to the accuracy, adequacy or sufficiency of such document. 

Section 5.7    Entitled to Rely. The Collateral Trustee may seek and conclusively rely upon, and shall be
fully protected in relying upon, any judicial order or judgment, upon any advice, opinion or statement of legal counsel, independent consultants and other experts selected by it in good faith and upon any certification, instruction, notice or other
writing delivered to it by the Company or any other Grantor in compliance with the provisions of this Agreement or delivered to it by any Secured Debt Representative as to the Secured Parties for whom it acts, without being required to determine the
authenticity thereof or the correctness of any fact stated therein or the propriety or validity of service thereof. The Collateral Trustee may act in reliance upon any instrument comporting with the provisions of this Agreement or any signature
believed by it to be genuine in good faith and may assume that any Person 

  
 25 

 
purporting to give notice or receipt or advice or make any statement or execute any document in connection with the provisions hereof or the other Security Documents has been duly authorized to
do so. To the extent an Officer’s Certificate or Opinion of Counsel is required or permitted under this Agreement to be delivered to the Collateral Trustee in respect of any matter, the Collateral Trustee may rely conclusively on such
Officer’s Certificate or Opinion of Counsel as to such matter and such Officer’s Certificate or Opinion of Counsel shall be full warranty and protection to the Collateral Trustee for any action taken, suffered or omitted by it under the
provisions of this Agreement and the other Security Documents with respect to the transaction specified in such Officer’s Certificate or Opinion of Counsel. The Collateral Trustee shall also be entitled to such reliance and similar rights as
provided in the Secured Debt Documents, including the right to rely upon officer’s certificates and opinions of counsel delivered to a Secured Debt Representative. 

Section 5.8    Secured Debt Default. The Collateral Trustee will not be charged with knowledge of or required
to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed by an Act of Required
Secured Parties. For the avoidance of doubt, and notwithstanding anything to the contrary herein, the Collateral Trustee shall not be subject to, or bound by, the terms and provisions of any documents to which it is not a party, and shall not be
deemed to have knowledge of the terms and provisions of any document to which it is not a party. 

Section 5.9    Actions by Collateral Trustee. As to any matter not expressly provided for by this Agreement or
the other Security Documents, the Collateral Trustee will act or refrain from acting as directed by an Act of Required Secured Parties and will be fully protected if it does so, and any action taken, suffered or omitted pursuant hereto or thereto
shall be binding on the Secured Parties. The Collateral Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Agreement at the request or direction of an Act of Required Secured Parties pursuant to the
provisions of this Agreement, unless the Required Secured Parties have offered to the Collateral Trustee security or indemnity satisfactory to the Collateral Trustee against the costs, expenses and liabilities which may be incurred by it in
compliance with such Act of Required Secured Parties. 
 Section 5.10    Security or Indemnity in favor of the
Collateral Trustee. The Collateral Trustee will not be required to advance or expend any funds or otherwise incur any financial liability in the performance of its duties or the exercise of its powers or rights hereunder unless it has been
provided with security or indemnity reasonably satisfactory to it against any and all liability, loss, fee or expense which may be incurred by it by reason of taking or continuing to take such action. 

Section 5.11    Rights of the Collateral Trustee. In the event of any conflict between any terms and
provisions set forth in this Agreement and those set forth in any other Security Document, the terms and provisions of this Agreement shall supersede and control the terms and provisions of such other Security Document with respect to the priority
of the Liens created by the Security Documents and the rights and remedies of the Collateral Trustee. In the event there is any bona fide, good faith disagreement between the other parties to this Agreement or any of the other Security Documents
resulting in adverse claims being made in connection 

  
 26 

 
with Collateral held by the Collateral Trustee and the terms of this Agreement or any of the other Security Documents do not unambiguously mandate the action the Collateral Trustee is to take or
not to take in connection therewith under the circumstances then existing, or the Collateral Trustee is in doubt as to what action it is required to take or not to take hereunder or under the other Security Documents, it will be entitled to refrain
from taking any action (and will incur no liability for doing so) until directed otherwise in writing by a request signed jointly by the parties hereto entitled to give such direction or by order of a court of competent jurisdiction. 

Section 5.12    Limitations on Duty of Collateral Trustee in Respect of Collateral. 

(a)    Beyond the exercise of reasonable care in the custody of Collateral in its possession, the Collateral Trustee will
have no duty as to any Collateral in its possession or control or in the possession or control of any agent or bailee or any income thereon or as to preservation of rights against prior parties or any other rights pertaining thereto and the
Collateral Trustee will not be responsible for filing any financing or continuation statements or recording any documents or instruments in any public office at any time or times or otherwise perfecting or maintaining the perfection of any Liens on
the Collateral; provided, however, that, notwithstanding the foregoing, the Collateral Trustee will execute, file or record UCC-3 continuation statements and other documents and instruments to preserve,
protect or perfect the security interests granted to the Collateral Trustee (subject to the priorities set forth herein) if it shall receive a specific written request to execute, file or record the particular continuation statement or other
specific document or instrument by any Secured Debt Representative. The Collateral Trustee shall deliver to each other Secured Debt Representative a copy of any such written request. The Collateral Trustee will be deemed to have exercised reasonable
care in the custody of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which it accords its own property, and the Collateral Trustee will not be liable or responsible for any loss or diminution in
the value of any of the Collateral by reason of the act or omission of any carrier, forwarding agency or other agent or bailee selected by the Collateral Trustee in good faith. The Collateral Trustee shall be permitted to use a reputable overnight
carrier selected by it in good faith to transmit possessory Collateral and shall not be liable for any theft, loss, damage or destruction of any such possessory Collateral sent via such overnight carrier. 

(b)    Except as provided in Section 5.12(a), the Collateral Trustee will not be responsible
for the existence, genuineness, ownership, transferability or value of any of the Collateral or for the validity, perfection, priority or enforceability of the Liens in any of the Collateral, for the validity or sufficiency of the Collateral or any
agreement or assignment contained therein, for the validity of the title of any Grantor to the Collateral, for insuring the Collateral or for the payment of taxes, charges, assessments or Liens upon the Collateral or otherwise as to the maintenance
of the Collateral. The Collateral Trustee hereby disclaims any representation or warranty to the current and future holders of the Secured Obligations concerning the perfection of the security interests granted to it or in the value of any
Collateral. 

  
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 Section 5.13    Assumption of Rights, Not Assumption of
Duties. 
 Notwithstanding anything to the contrary contained herein: 

(1)    each of the parties thereto (other than the Collateral Trustee) will remain liable under each of
the Security Documents (other than this Agreement) to the extent set forth therein to perform all of their respective duties and obligations thereunder to the same extent as if this Agreement had not be executed; 

(2)    the exercise by the Collateral Trustee of any of its rights, remedies or powers hereunder will not
release such parties from any of their respective duties or obligations under the other Security Documents; and 

(3)    the Collateral Trustee will not be obligated to perform any of the obligations or duties of any of
the parties to the Security Documents other than the obligations and duties of the Collateral Trustee. 

Section 5.14    No Liability for Clean-Up of Hazardous Materials. In
the event that the Collateral Trustee is required to acquire title to an asset for any reason, or take any managerial action of any kind in regard thereto, in order to carry out any fiduciary or trust obligation for the benefit of another, which in
the Collateral Trustee’s sole discretion may cause the Collateral Trustee to be considered an “owner or operator” under any environmental laws or otherwise cause the Collateral Trustee to incur, or be exposed to, any environmental
liability or any liability under any other federal, state or local law, the Collateral Trustee reserves the right, instead of taking such action, either to resign as Collateral Trustee or to arrange for the transfer of the title or control of the
asset to a court appointed receiver. The Collateral Trustee will not be liable to any Person for any environmental liability or any environmental claims or contribution actions under any federal, state or local law, rule or regulation by reason of
the Collateral Trustee’s actions and conduct as authorized, empowered and directed hereunder or relating to any kind of discharge or release or threatened discharge or release of any hazardous materials into the environment. 

Section 5.15    Act of Required Secured Party, etc. 

(a)    At the request of the Collateral Trustee, each Secured Debt Representative shall provide any information requested
by the Collateral Trustee in order to determine whether any act, direction or vote of holders of Secured Debt meets the definition of “Act of Required Secured Parties”. Each such Secured Debt Representative shall be required to
determine whether any Secured Debt is held by the Company or any Affiliate of a Grantor for purposes of clauses (i) and (ii) of the definition of “Act of Required Secured Parties.” 

(b)    The Collateral Trustee shall not be deemed to have knowledge of any Discharge of Secured Obligations unless and
until written notice thereof is delivered to the Collateral Trustee pursuant to Section 7.7. 
 (c)    The
Collateral Trustee shall be entitled to conclusively rely on the information provided by each such Secured Debt Representative pursuant to this Section 5.15. 

  
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 ARTICLE VI 

RESIGNATION AND REMOVAL OF THE COLLATERAL TRUSTEE 

Section 6.1    Resignation or Removal of Collateral Trustee. Subject to the appointment of a successor
Collateral Trustee as provided in Section 6.2 and the acceptance of such appointment by the successor Collateral Trustee: 

(a)    the Collateral Trustee may resign at any time by giving not less than 30 days’ notice of resignation to each
Secured Debt Representative and the Company; and 
 (b)    the Collateral Trustee may be removed at any time, with or
without cause, by an Act of Required Secured Parties; provided, however, if the Collateral Trustee is removed without cause, the Act of Required Secured Parties shall be given at least 30 days’ prior to the requested date of removal. 

Section 6.2    Appointment of Successor Collateral Trustee. Upon any such resignation or removal, a successor
Collateral Trustee may be appointed by an Act of Required Secured Parties (with the consent of the Company, such consent not to be unreasonably withheld or delayed); provided that no such consent shall be required upon the occurrence of a Secured
Debt Default. If no successor Collateral Trustee has been so appointed and accepted such appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the
expense of the Company), at its option, appoint a successor Collateral Trustee, or petition a court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: 

(1)    authorized to exercise corporate trust powers; 

(2)    having a combined capital and surplus of at least $500,000,000; 

(3)    maintaining an office in New York, New York; and 

(4)    reasonably satisfactory to the Company. 

The Collateral Trustee will fulfill its obligations hereunder until a successor Collateral Trustee meeting the requirements of this
Section 6.2 has accepted its appointment as Collateral Trustee and the provisions of Section 6.3 have been satisfied. 

Section 6.3    Succession. When the Person so appointed as successor Collateral Trustee accepts such
appointment: 
 (1)    such Person will succeed to and become vested with all the rights, powers,
privileges and duties of the predecessor Collateral Trustee, and the predecessor Collateral Trustee will be discharged from its duties and obligations hereunder; and 

  
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 (2)    the predecessor Collateral Trustee will (at the
expense of the Company) promptly transfer all Liens and collateral security and other property of the Trust Estate within its possession or control to the possession or control of the successor Collateral Trustee and will execute instruments and
assignments as may be necessary or desirable or reasonably requested by the successor Collateral Trustee to transfer to the successor Collateral Trustee all Liens, interests, rights, powers and remedies of the predecessor Collateral Trustee in
respect of the Security Documents or the Trust Estate. 
 Thereafter the predecessor Collateral Trustee will remain entitled to enforce the immunities
granted to it in Article V and the provisions of Sections 7.9 and 7.10. 

Section 6.4    Merger, Conversion or Consolidation of Collateral Trustee. Any Person into which the Collateral
Trustee may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Collateral Trustee shall be a party, or any Person succeeding to the business of the
Collateral Trustee shall be the successor of the Collateral Trustee pursuant to Section 6.3; provided that without the execution or filing of any paper with any party hereto or any further act on the part of any of the
parties hereto, except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding, such Person satisfies the eligibility requirements specified in clauses
(1) through (4) of Section 6.2. The Collateral Trustee agrees to provide prompt written notice of any such merger, conversion or consolidation to the Company and each Secured Debt Representative. 

ARTICLE VII 

MISCELLANEOUS PROVISIONS 

Section 7.1    Amendment. 

(a)    No amendment, supplement or waiver to the provisions of any Security Document will be effective without the
approval of the Collateral Trustee (solely with respect to amendments of the type described in clauses (2)(A) and (B) below, acting as directed by an Act of Required Secured Parties), and in connection with any of the following, without the
approval of the parties specified therein (which approval should be deemed provided upon such parties delivery of an executed counterpart of such amendment): 

(1)    any amendment, supplement or waiver that has the effect solely of: 

(A)    adding or maintaining Collateral, securing additional Secured Obligations that are otherwise not
prohibited by the terms of any Secured Debt Document to be secured by the Collateral or preserving, perfecting or establishing the Liens thereon or the rights of the Collateral Trustee therein; or 

(B)    providing for the assumption of any Grantor’s obligations under any Secured Debt Document in
the case of a merger or consolidation or sale of all or substantially all of the assets of such Grantor to the extent not prohibited by the terms of any applicable Secured Debt Document, 

  
 30 

 will become effective when (x) executed and delivered to the Collateral Trustee (which shall sign the
same promptly upon receipt) by the Company or any other applicable Grantor party thereto and (y) executed by the Collateral Trustee in accordance with the foregoing clause (x); 

(2)    no amendment, supplement or waiver that reduces, impairs or adversely affects the right of any
Secured Party: 
 (A)    to vote its outstanding Secured Debt as to any matter described as subject to
an Act of Required Secured Parties (or amends the provisions of this Section 7.1(a) (2) or the definition of “Act of Required Secured Parties”); 

(B)    to share in the order of application described in Section 3.4 in the
proceeds of enforcement of or realization on any Collateral that has not been released in accordance with the provisions described in Section 4.1 or 4.4; 

(C)    to require that Liens securing Secured Obligations be released only as set forth in the provisions
described in Section 4.1 or 4.4; or 
 (D)    under this
Section 7.1, 
 will become effective without the consent of each Secured Debt Representative (acting in accordance with the
applicable Secured Debt Documents) of each Series of Secured Debt so affected under the applicable Secured Debt Documents; and 

(3)    no amendment or supplement that imposes any obligation upon the Collateral Trustee or any Secured
Debt Representative or adversely affects the rights of the Collateral Trustee or any Secured Debt Representative, respectively, in its capacity as such will become effective without the consent of the Collateral Trustee or such Secured Debt
Representative, respectively. 
 (b)    The Collateral Trustee will not enter into any amendment, supplement or waiver
unless it has received an Officer’s Certificate and Opinion of Counsel stating that such amendment, supplement or waiver is authorized or permitted by the Secured Debt Documents and that all conditions precedent and covenants have been complied
with; provided that this clause (b) shall not apply to any Collateral Trust Agreement Joinder delivered pursuant to Section 7.18. 

(c)    Notwithstanding anything to the contrary herein, following the date hereof, the Security Documents and any related
documents may be amended, supplemented and/or waived at the request of the Company in accordance with the terms of any applicable 

  
 31 

 
Secured Debt Documents without obtaining an Act of Required Secured Parties if such amendment or waiver is to (x) comply with local law or advice of local counsel of the Company,
(y) fix ambiguities, omissions or defects or (z) cause this Agreement, such Security Documents or such other agreements or documents to be consistent with this Agreement and/or one or more Secured Debt Documents, as applicable. 

(d)    A Collateral Trust Agreement Joinder (and any amendments or supplements to the Security Documents required in
connection with such Collateral Trust Agreement Joinder) shall not constitute an amendment, supplement or waiver for purposes of this Section 7.1. 

(e)    Notwithstanding anything to the contrary contained herein or in any Secured Debt Document, no amendment, amendment
and restatement, supplement, waiver or other modification to this Agreement that adversely affects the rights of any Grantor or affects the obligations of any Grantor shall be effective without the consent of the Company (not to be unreasonably
withheld). 
 Section 7.2    Voting. In connection with any matter under this Agreement requiring a vote of
holders of Secured Debt, each Series of Secured Debt will cast its votes in accordance with the Secured Debt Documents governing such Series of Secured Debt. The amount of Secured Debt to be voted by a Series of Secured Debt will equal (1) the
aggregate principal amount of Secured Debt held by such Series of Secured Debt (including outstanding letters of credit whether or not then available or drawn), plus (2) other than in connection with an exercise of remedies, the
aggregate unfunded commitments to extend credit which, when funded, would constitute Funded Debt of such Series of Secured Debt. Following and in accordance with the outcome of the applicable vote under its Secured Debt Documents, the Secured Debt
Representative of each Series of Secured Debt will cast all of its votes under that Series of Secured Debt as a block (representing 100% of the aggregate principal amount of Secured Debt held by such Series of Secured Debt (including outstanding
letters of credit whether or not then available or drawn), and, where applicable, the aggregate unfunded commitments to extend credit which, when funded, would constitute Funded Debt of such Series of Secured Debt) in respect of any vote under this
Agreement. 
 Section 7.3    Further Assurances. 

(a)    The Company and each of the other Grantors will do or cause to be done all acts and things that may be required,
or that the Collateral Trustee from time to time may reasonably request, to assure and confirm that the Collateral Trustee holds, for the benefit of the Secured Parties, duly created and enforceable and perfected Liens upon the Collateral (including
any property or assets that are acquired or otherwise become, or are required by any Secured Debt Document to become, Collateral after the date hereof), in each case as contemplated by, and with the Lien priority required under, the Secured Debt
Documents. 
 (b)    As required or upon the reasonable request of the Collateral Trustee at any time and from time to
time, each Grantor will promptly execute, acknowledge and deliver such security documents, instruments, certificates, notices and other documents, and take such other actions as may be reasonably required, or that the Collateral Trustee may
reasonably 

  
 32 

 
request, to create, perfect, protect, assure or enforce the Liens and benefits intended to be conferred, in each case as contemplated by the Secured Debt Documents or Security Documents for the
benefit of the Secured Parties. 
 Section 7.4    Successors and Assigns. 

(a)    Except as provided in Section 5.2, the Collateral Trustee may not, in its capacity as
such, delegate any of its duties or assign any of its rights hereunder, and any attempted delegation or assignment of any such duties or rights will be null and void. All obligations of the Collateral Trustee hereunder will inure to the sole and
exclusive benefit of, and be enforceable by, each Secured Debt Representative and each present and future holder of Secured Obligations, each of whom will be entitled to enforce this Agreement as a third-party beneficiary hereof, and all of their
respective successors and assigns. 
 (b)    Except in connection with a transaction permitted by the applicable
Secured Debt Documents, neither the Company nor any other Grantor may delegate any of its duties or assign any of its rights hereunder, and any attempted delegation or assignment of any such duties or rights will be null and void. All obligations of
the Company and the other Grantors hereunder will inure to the sole and exclusive benefit of, and be enforceable by, the Collateral Trustee, each Secured Debt Representative and each present and future holder of Secured Obligations, each of whom
will be entitled to enforce this Agreement as a third-party beneficiary hereof, and all of their respective successors and assigns. 

Section 7.5    Delay and Waiver. No failure to exercise, no course of dealing with respect to the exercise of,
and no delay in exercising, any right, power or remedy arising under this Agreement or any of the other Security Documents will impair any such right, power or remedy or operate as a waiver thereof. No single or partial exercise of any such right,
power or remedy will preclude any other or future exercise thereof or the exercise of any other right, power or remedy. The remedies herein are cumulative and are not exclusive of any remedies provided by law. 

Section 7.6    Notices. Any communications, including notices and instructions, between the parties hereto or
notices provided herein to be given may be given to the following addresses: 
 If to the Collateral Trustee: 

Wilmington Trust, National Association 

50 South Sixth Street, Suite 1290 

Minneapolis, MN 55042 

Attention: Triumph Group Inc. Administrator 

Fax: 612-217-5651 

  
 33 

 If to the Company or any other Grantor: 

Triumph Group, Inc. 

899 Cassatt Road, Suite 210 

Berwyn, Pennsylvania 19312 

Facsimile: (610) 251-1000 

Attention: General Counsel 

with a copy to: 

Skadden, Arps, Slate, Meagher & Flom LLP 

One Manhattan West 

New York, New York 10001 

Facsimile: (917) 777-3259 

Attention: Michael J Zeidel, Esq. 

If to the Indenture Trustee: 

U.S. Bank National Association 

100 Wall Street, Suite 600 

New York, NY 10005 

Attention: Global Corporate Trust 

and 
 U.S. Bank
National Association 
 Corporate Trust Services 

50 S 16th St, Suite 2000 
 Mail
Station: EX-PA-WBSP 
 Philadelphia, PA 19102 

Facsimile: (215) 761-9412 

Attention: George J. Rayzis 
 and if to any
other Secured Debt Representative, to such address as it may specify by written notice to the parties named above. 
 Any of the foregoing
parties may specify a different or an additional address to which notices should be sent under this Agreement by sending other parties written notice of the new or additional address in the manner provided in this Section. 

All notices and communications will be transmitted by electronic mail, telecopy or by first class mail, certified or registered, return
receipt requested, or by overnight air courier guaranteeing next day delivery, to the relevant electronic mail address, fax number or address set forth above or, as to holders of Secured Debt, its contact information shown on the register kept by
the office or agency where the relevant Secured Debt may be presented for registration of transfer or for exchange. To the extent applicable, any notice or communication will also be so transmitted by the Indenture Trustee to any Person described in
§ 313(c) of the Trust Indenture Act of 1939, as amended, to the extent required thereunder. Failure to transmit a notice or communication to a holder of Secured Debt or any defect in it will not affect its sufficiency with respect to other
holders of Secured Debt. 

  
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 If a notice or communication is mailed in the manner provided above within the time
prescribed, it is duly given, whether or not the addressee receives it. 
 Section 7.7    Notice Following
Discharge of Secured Obligations. Promptly following the Discharge of Secured Obligations with respect to one or more Series of Secured Debt, each Secured Debt Representative with respect to each applicable Series of Secured Debt that is so
discharged will provide written notice of such discharge to the Collateral Trustee and to each other Secured Debt Representative. 

Section 7.8    Entire Agreement. This Agreement states the complete agreement of the parties relating to the
undertaking of the Collateral Trustee set forth herein and supersedes all oral negotiations and prior writings in respect of such undertaking. 

Section 7.9    Compensation; Expenses. The Grantors agree to pay, promptly upon demand: 

(a)    such compensation to the Collateral Trustee and its agents as the Company and the Collateral Trustee may agree in
writing from time to time; and 
 (b)    jointly and severally, no later than fifteen (15) days after written
demand therefor: 
 (1)    all reasonable, documented out-of-pocket costs and expenses incurred by the Collateral Trustee and its agents in the preparation, execution, delivery, filing, recordation, administration or enforcement of this Agreement or any other
Security Document or any consent, amendment, waiver or other modification relating hereto or thereto; 

(2)    all reasonable, documented
out-of-pocket fees, expenses and disbursements of legal counsel and any auditors, accountants, consultants or appraisers or other professional advisors and agents
engaged by the Collateral Trustee incurred in connection with (i) the negotiation, preparation, closing, administration, performance or enforcement of this Agreement and the other Security Documents (or any consent, amendment, waiver or other
modification relating hereto or thereto and any other document or matter requested by the Company or any other Grantor), (ii) the transactions contemplated thereby and (iii) the exercise of rights or performance of obligations of the
Collateral Trustee thereunder; provided, however, that in no event shall the Grantors be obligated to pay fees and expenses for more than one primary counsel to the Collateral Trustee (and up to one local counsel in each applicable
jurisdiction and regulatory counsel); 
 (3)    all reasonable, documented out-of-pocket costs and expenses incurred by the Collateral Trustee and its agents in creating, perfecting, preserving, releasing or enforcing the Collateral Trustee’s
Liens on the Collateral, including filing and recording fees, expenses and taxes, stamp or documentary taxes, search fees, and title insurance premiums; 

  
 35 

 (4)    subject to the proviso in clause (2), after the
occurrence of any Secured Debt Default, all reasonable, documented out-of-pocket costs and expenses incurred by the Collateral Trustee and its agents in connection with
the preservation, collection, foreclosure or enforcement of the Collateral subject to the Security Documents or any interest, right, power or remedy of the Collateral Trustee or in connection with the collection or enforcement of any of the Secured
Obligations or the proof, protection, administration or resolution of any claim based upon the Secured Obligations in any Insolvency or Liquidation Proceeding, including all reasonable, documented out-of-pocket fees and disbursements of attorneys, accountants, auditors, consultants, appraisers and other professionals engaged by the Collateral Trustee and its agents. 

The agreements in this Section 7.9 will survive repayment of all other Secured Obligations and the removal or
resignation of the Collateral Trustee. 
 Section 7.10    Indemnity. 

(a)    The Grantors jointly and severally agree to defend, indemnify, pay and hold harmless the Collateral Trustee and
its Affiliates and each and all of the directors, officers, partners, trustees, employees, attorneys and agents, and (in each case) their respective heirs, representatives, successors and assigns (each of the foregoing, an
“Indemnitee”) from and against any and all Indemnified Liabilities, regardless of whether such claim is asserted by any Secured Party, Secured Debt Representative or Grantor or any third party; provided that no Indemnitee
will be entitled to indemnification hereunder with respect to any Indemnified Liability to the extent such Indemnified Liability is found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from the gross
negligence or willful misconduct of such Indemnitee. 
 (b)    All amounts due under this
Section 7.10 will be payable not later than fifteen (15) days upon written demand therefore. 

(c)    To the extent that the undertakings to defend, indemnify, pay and hold harmless set forth in
Section 7.10(a) may be unenforceable in whole or in part because they violate any law or public policy, each of the Grantors will contribute the maximum portion that it is permitted to pay and satisfy under applicable law
to the payment and satisfaction of all Indemnified Liabilities incurred by Indemnitees or any of them. 
 (d)    To the
extent permitted by applicable law, no Grantor shall ever assert, and each Grantor hereby waives, any claim against any Indemnitee, on any theory of liability, for any lost profits or special, indirect, incidental or consequential damages or (to the
fullest extent a claim for punitive damages may lawfully be waived) any punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, any Security Documents or any agreement or instrument or
transaction contemplated hereby or relating in any respect to any Indemnified Liability. 

  
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 (e)    The agreements in this Section 7.10
will survive repayment of all other Secured Obligations and the removal or resignation of the Collateral Trustee. 

Section 7.11    Severability. Any provision of this Agreement which is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

Section 7.12    Section Headings. The section headings and Table of Contents used in this Agreement are for
convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 

Section 7.13    Obligations Secured. All obligations of the Grantors set forth in or arising under this
Agreement will be Secured Obligations and are secured by all Liens granted by the Security Documents. 

Section 7.14    Governing Law. This Agreement shall be construed in accordance with and governed by the law of
the State of New York. 
 Section 7.15    Consent to Jurisdiction; Service of Process. 

(a)    Each Grantor hereby irrevocably and unconditionally submits for themselves and their 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 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 or any shall affect any right that any party hereto or Secured Party may otherwise have to bring any action or proceeding relating to this Agreement against any Grantor or
its properties in the courts of any jurisdiction. 
 (b)    Each party to this Agreement irrevocably consents to
service of process in the manner provided for notices in Section 7.6. 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 7.16    WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE 

  
 37 

 
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 OR THEREBY
(WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER 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. 

Section 7.17    Counterparts. This Agreement may be executed by one or more of the parties to this Agreement
on any number of separate counterparts (including by facsimile or other electronic imaging means), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page of this
Agreement by facsimile or other electronic transmission (e.g. “pdf” or “tif” format) shall be effective as delivery of a manually executed counterpart hereof. The words “ execution,” “ signed,” “
signature,” and words of like import in this Agreement or any agreement entered into in connection herewith shall be deemed to include electronic signatures 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; provided that, notwithstanding anything herein to the contrary, the Collateral
Trustee is not under any obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Collateral Trustee pursuant to procedures approved by the Collateral Trustee. 

Section 7.18    Additional Grantors.    The Company will cause each Subsidiary of the
Company that hereafter becomes a Grantor or is required by any Secured Debt Document to become a party to this Agreement to do so, for all purposes of this Agreement, by causing such Subsidiary to execute and deliver to the Collateral Trustee a
Collateral Trust Agreement Joinder, whereupon such Subsidiary will be bound by the terms hereof to the same extent as if it had executed and delivered this Agreement as of the date hereof. 

Section 7.19    Continuing Nature of this Agreement. This Agreement will be reinstated if at any time any
payment or distribution in respect of any of the Secured Obligations is rescinded or must otherwise be returned in an Insolvency or Liquidation Proceeding or otherwise by any Secured Party or Secured Debt Representative or any representative of any
such party (whether by demand, settlement, litigation or otherwise). 
 Section 7.20    Insolvency. This
Agreement will be applicable both before and after the commencement of any Insolvency or Liquidation Proceeding by or against any Grantor. The relative rights, as provided for in this Agreement, will continue after the commencement of any such
Insolvency or Liquidation Proceeding on the same basis as prior to the date of the commencement of any such case, as provided in this Agreement. 

  
 38 

 Section 7.21    Rights and Immunities of Secured Debt
Representatives. The Indenture Trustee will be entitled to all of the rights, protections, immunities and indemnities set forth in the Indenture and any future Secured Debt Representative will be entitled to all of the rights, protections,
immunities and indemnities set forth in the credit agreement, indenture or other agreement governing the applicable Secured Debt with respect to which such Person will act as representative, in each case as if specifically set forth herein. In no
event will any Secured Debt Representative be liable for any act or omission on the part of the Grantors or the Collateral Trustee hereunder. 

Section 7.22    Modification of Secured Debt Documents. The Company and any other Grantor shall be permitted
to amend, replace, refinance, increase, substitute or modify any other Secured Debt Document or enter into any additional Secured Debt or the applicable Secured Debt Documents, in each case in accordance with the terms of the applicable Secured Debt
Documents. 
 Section 7.23    Confidentiality. 

The Collateral Trustee agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed:

 (a)    to its Affiliates and its and their respective directors, officers, employees and agents, including
accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential); 

(b)    to the extent required or requested by any regulatory authority purporting to have jurisdiction over such Person
or its Affiliates (including any self-regulatory authority, such as the National Association of Insurance Commissioners); 

(c)    to the extent required by applicable laws or regulations or by any subpoena or similar legal process; 

(d)    to any other party to this Agreement; 

(e)    in connection with the exercise of any remedies under the Security Documents or any Secured Debt Document or any
suit, action or proceeding relating to the Security Documents or any Secured Debt Document or the enforcement of rights hereunder or thereunder; 

(f)    subject to an agreement containing provisions substantially the same as those of this Section, to (i) any
assignee of or beneficiary of, or any prospective assignee of or beneficiary of, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its Affiliates) to any swap, derivative or other
transaction relating to the Company or its Restricted Subsidiaries (as defined in the applicable Secured Debt Document) and their obligations; 

  
 39 

 (g)    with the prior written consent of the Company; or 

(h)    to the extent such Information (i) becomes publicly available other than as a result of a breach of this
Section by the disclosing party or its Affiliates or (ii) becomes available to the Collateral Trustee on a nonconfidential basis from a source other than the Grantors. 

(i)    For the purposes of this Section, “Information” means all information received from (or on behalf
of) the Company or its Subsidiaries relating to the Company, its Subsidiaries or their respective businesses, other than any such information that is available to the Collateral Trustee on a nonconfidential basis prior to disclosure by the Company
or its Subsidiaries.
 [Signature Pages Follow] 

  
 40 

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

			
	 TRIUMPH GROUP, INC. as the Company

		
	By:	 	 /s/ James F. McCabe, Jr.

	Name:	 	James F. McCabe, Jr.
	Title:	 	Senior Vice President and Chief Financial Officer

 [Signature Page – Collateral Trust Agreement] 

	
	 HT PARTS, L.L.C.

	 TRIUMPH ACCESSORY SERVICES – GRAND PRAIRIE, INC.

	 TRIUMPH ACTUATION SYSTEMS - CONNECTICUT, LLC

	 TRIUMPH ACTUATION SYSTEMS – VALENCIA, INC.

	 TRIUMPH ACTUATION SYSTEMS – YAKIMA, LLC

	 TRIUMPH ACTUATION SYSTEMS, LLC

	 TRIUMPH AEROSPACE SYSTEMS GROUP, LLC

	 TRIUMPH AEROSTRUCTURES – TULSA, LLC

	 TRIUMPH AEROSTRUCTURES HOLDINGS, LLC

	 TRIUMPH AEROSTRUCTURES, LLC

	 TRIUMPH AFTERMARKET SERVICES GROUP, LLC

	 TRIUMPH AIRBORNE STRUCTURES, LLC

	 TRIUMPH AVIATIONS INC.

	 TRIUMPH BRANDS, INC.

	 TRIUMPH COMPOSITE SYSTEMS, INC.

	 TRIUMPH CONTROLS, LLC

	 TRIUMPH ENGINE CONTROL HOLDINGS, INC.

	 TRIUMPH ENGINE CONTROL SYSTEMS, LLC

	 TRIUMPH ENGINEERED SOLUTIONS, INC.

	 TRIUMPH ENGINEERING SERVICES, INC.

	 TRIUMPH FABRICATIONS – ORANGEBURG, INC.

	 TRIUMPH GEAR SYSTEMS – MACOMB, INC.

	 TRIUMPH GEAR SYSTEMS, INC.

	 TRIUMPH GROUP ACQUISITION HOLDINGS, INC.

	 TRIUMPH INSTRUMENTS – BURBANK, INC.

	 TRIUMPH INSULATION SYSTEMS, LLC

	 TRIUMPH INTEGRATED AIRCRAFT INTERIORS, INC.

	 TRIUMPH INVESTMENT HOLDINGS, INC.

	 TRIUMPH STRUCTURES – KANSAS CITY, INC.

 [Signature Page – Collateral Trust Agreement] 

 
			
	TRIUMPH STRUCTURES – WICHITA, INC.
	 TRIUMPH THERMAL SYSTEMS – MARYLAND, INC.

	TRIUMPH THERMAL SYSTEMS, LLC
	TRIUMPH TURBINE SERVICES, INC.
	 VAC INDUSTRIES, INC.

as Grantors

		
	By:	 	 /s/ James F. McCabe, Jr.

	Name:	 	James F. McCabe, Jr.
	Title:	 	Vice President & Treasurer

 [Signature Page – Collateral Trust Agreement] 

 
			
	 THE TRIUMPH GROUP OPERATIONS, INC.

as a Grantor

		
	By:	 	 /s/ James F. McCabe, Jr.

	Name:	 	James F. McCabe, Jr.
	Title:	 	Senior Vice President, CFO & Treasurer

  

			
	 TRIUMPH GROUP ACQUISITION CORP.

	 NU-TECH BRANDS, INC.

as a Grantor

		
	By:	 	 /s/ James F. McCabe, Jr.

	Name:	 	James F. McCabe, Jr.
	Title:	 	President & Treasurer

 [Signature Page – Collateral Trust Agreement] 

 
			
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Indenture Trustee

		
	By:	 	 /s/ George J. Rayzis

		 	Name: George J. Rayzis
		 	Title: Vice President

 [Signature Page – Collateral Trust Agreement] 

 
			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Collateral Trustee
		
	By:	 	 /s/ Jane Schweiger

		 	Name: Jane Schweiger
		 	Title: Vice President

 [Signature Page – Collateral Trust Agreement] 

 SCHEDULE I 

Grantors 
  

			
	 Company Name
	  	State of Formation
	Triumph Group, Inc.	  	Delaware
		
	HT Parts, L.L.C.	  	Delaware
		
	Nu-Tech Brands, Inc.	  	Delaware
		
	The Triumph Group Operations, Inc.	  	Delaware
		
	Triumph Accessory Services – Grand Prairie, Inc.	  	Delaware
		
	Triumph Actuation Systems - Connecticut, LLC	  	Delaware
		
	Triumph Actuation Systems – Valencia, Inc.	  	Delaware
		
	Triumph Actuation Systems – Yakima, LLC	  	Delaware
		
	Triumph Actuation Systems, LLC	  	Delaware
		
	Triumph Aerospace Systems Group, LLC	  	Delaware
		
	Triumph Aerostructures – Tulsa, LLC	  	Delaware
		
	Triumph Aerostructures Holdings, LLC	  	Delaware
		
	Triumph Aerostructures, LLC	  	Delaware
		
	Triumph Aftermarket Services Group, LLC	  	Delaware
		
	Triumph Airborne Structures, LLC	  	Arkansas
		
	Triumph Aviations Inc.	  	Pennsylvania
		
	Triumph Brands, Inc.	  	Delaware
		
	Triumph Composite Systems, Inc.	  	Delaware
		
	Triumph Controls, LLC	  	Delaware
		
	Triumph Engine Control Holdings, Inc.	  	Delaware
		
	Triumph Engine Control Systems, LLC	  	Delaware
		
	Triumph Engineered Solutions, Inc.	  	Delaware
		
	Triumph Engineering Services, Inc.	  	Delaware
		
	Triumph Fabrications – Orangeburg, Inc.	  	Illinois
		
	Triumph Gear Systems – Macomb, Inc.	  	Michigan
		
	Triumph Gear Systems, Inc.	  	Delaware

			
	 Company Name
	  	State of Formation
	Triumph Group Acquisition Corp.	  	Delaware
		
	Triumph Group Acquisition Holdings, Inc.	  	Delaware
		
	Triumph Instruments – Burbank, Inc.	  	Delaware
		
	Triumph Insulation Systems, LLC	  	Nevada
		
	Triumph Integrated Aircraft Interiors, Inc.	  	Delaware
		
	Triumph Investment Holdings, Inc.	  	Nevada
		
	Triumph Structures – Kansas City, Inc.	  	Missouri
		
	Triumph Structures – Wichita, Inc.	  	Delaware
		
	Triumph Thermal Systems – Maryland, Inc.	  	Delaware
		
	Triumph Thermal Systems, LLC	  	Delaware
		
	Triumph Turbine Services, Inc.	  	Delaware
		
	VAC Industries, Inc.	  	Delaware

  
 Sch. I-2 

 EXHIBIT A 

to Collateral Trust Agreement 

[FORM OF] 
 ADDITIONAL
SECURED DEBT DESIGNATION 
             ,
20         
 Reference is made to the Collateral Trust Agreement, dated as of
August 17, 2020 (as amended, supplemented, amended and restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”), among Triumph Group, Inc., a Delaware corporation (the
“Company”), the other Grantors from time to time party thereto, U.S. Bank National Association, as Indenture Trustee, Wilmington Trust, National Association, as collateral trustee (in such capacity, the “Collateral
Trustee”) and the other Secured Debt Representatives from time to time party thereto. Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Collateral Trust Agreement. This Additional Secured Debt
Designation is being executed and delivered in order to designate additional secured debt as Secured Debt entitled to the benefits of the Collateral Trust Agreement. 

The undersigned, the duly appointed [specify title] of the Company hereby certifies on behalf of the Company, in [his/her]
capacity as an [officer] of the Company and not in [his/her] individual capacity, that: 

(1)    [insert name of Grantor] intends to incur additional Secured Debt pursuant to the
[describe new debt facility agreement] (the “Additional Secured Debt”), which is permitted by each applicable Secured Debt Document to be secured by a Priority Lien equally and ratably with all previously existing and future
Secured Debt; 
 (2)    the name and address of the Secured Debt Representative for the Additional
Secured Debt for purposes of Section 7.6 of the Collateral Trust Agreement is: 
  

	
	  

	
	  

	
	Telephone:                     
	
	Fax:                         

 (3)    each Grantor has duly authorized and executed (if
applicable) all relevant documents, filings and recordations to ensure that the Additional Secured Debt is secured by such Grantor’s right, title and interest in the Collateral in accordance with the Security Documents; and 

  
 Exh. A-1 

 (4)    attached as Exhibit 1 hereto is a
Reaffirmation Agreement duly executed by each Grantor. 
 IN WITNESS WHEREOF, this Additional Secured Debt Designation is duly executed by
the undersigned as of the date first written above. 
  

			
	TRIUMPH GROUP, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. A-2 

 ACKNOWLEDGEMENT OF RECEIPT 

The undersigned, the duly appointed Collateral Trustee under the Collateral Trust Agreement, hereby acknowledges receipt of an executed copy
of this Additional Secured Debt Designation. 
  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Collateral Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. A-3 

 EXHIBIT 1 

TO ADDITIONAL SECURED DEBT DESIGNATION 

[FORM OF] 
 REAFFIRMATION
AGREEMENT 
 Reference is made to the Collateral Trust Agreement, dated as of August 17, 2020 (as amended, supplemented, amended
and restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”), among Triumph Group, Inc., a Delaware corporation (the “Company”), the other Grantors from time to time party
thereto, U.S. Bank National Association, as Indenture Trustee, Wilmington Trust, National Association, as collateral trustee (in such capacity, the “Collateral Trustee”) and the other Secured Debt Representatives from time to time
party thereto. Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Collateral Trust Agreement. This Reaffirmation Agreement is being executed and delivered as of the date first written above in
connection with an Additional Secured Debt Designation of even date herewith (the “Current Additional Secured Debt Designation”) by the Company and acknowledged by the Collateral Trustee, which Current Additional Secured Debt
Designation has designated additional secured debt as Secured Debt (as described therein) entitled to the benefit of the Collateral Trust Agreement. 

Each of the undersigned hereby consents to the designation of the Additional Secured Debt (as defined in the Current Additional Secured Debt
Designation) as Secured Debt as set forth in the Current Additional Secured Debt Designation and hereby confirms its respective guarantees, pledges, charges, assignments, grants of security interests and other obligations, as applicable, under and
subject to the terms of each Security Document and each Secured Debt Document, in each case, to which it is party, and agrees that, notwithstanding the designation of such additional indebtedness or any of the transactions contemplated thereby, such
guarantees, pledges, charges, assignments, grants of security interests and other obligations, and the terms of each Security Document and each Secured Debt Document, in each case, to which it is party, are not impaired or adversely affected in any
manner whatsoever and shall continue to be in full force and effect and such additional secured debt shall be entitled to all of the benefits of such Security Document or Secured Debt Document, as the case may be. In furtherance thereof, each of the
undersigned hereby grants to the Collateral Trustee, for the benefit of the Secured Parties, a security interest in all of its right, title and interest in the Collateral to secure the prompt and complete payment and performance of the Secured
Obligations, including, in any event, the Additional Secured Debt (as defined in the Current Additional Secured Debt Designation). 
 Each
Grantor hereby authorizes (but does not obligate) the Collateral Trustee to file, and if requested will execute and deliver to the Collateral Trustee, all financing statements describing the Collateral owned by such Grantor and other documents and
take such other actions as may from time to time be required or reasonably be requested by the Collateral Trustee (in all cases in accordance with and to the extent required by the Collateral Trust Agreement and the applicable Security Documents) in
order to maintain a perfected security interest in and, if applicable control of, the Collateral owned by such Grantor, subject to Liens permitted under all of the Secured Debt Documents. Such financing statements may describe the Collateral in the
same manner as described herein or may contain an indication or description of collateral that describes such property in any other manner as is necessary, advisable or prudent to ensure that 

  
 Exh. 1-1 

 
the perfection of the security interest in the Collateral granted to the Collateral Trustee herein, including, without limitation, describing such property as “all assets of the Debtor
whether now owned or hereafter acquired and wheresoever located, including all accessions thereto and proceeds thereof” or using words of similar import. Each Grantor will, at its own expense, take any and all actions necessary to defend title
to any material portion of the Collateral owned by such Grantor against all persons and to defend the security interest of the Collateral Trustee in such Collateral and the priority thereof against any Lien not expressly permitted hereunder. 

Governing Law and Miscellaneous Provisions. The provisions of Article VII of the Collateral Trust Agreement will apply with like
effect to this Reaffirmation Agreement. 
 [Signature Pages Follow] 

  
 Exh. 1-2 

 IN WITNESS WHEREOF, each of the undersigned has caused this Reaffirmation Agreement to be
duly executed as of the date written above. 
  

			
	[NAMES OF GRANTORS]
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. 1-3 

 ACKNOWLEDGEMENT OF RECEIPT 

The undersigned, the duly appointed Collateral Trustee under the Collateral Trust Agreement, hereby acknowledges receipt of an executed copy
of this Reaffirmation Agreement. 
  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Collateral Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. 1-4 

 EXHIBIT B 

to Collateral Trust Agreement 

[FORM OF] 
 COLLATERAL
TRUST AGREEMENT JOINDER – ADDITIONAL SECURED DEBT 

            , 20         

Reference is made to the Collateral Trust Agreement, dated as of August 17, 2020 (as amended, supplemented, amended and restated or
otherwise modified and in effect from time to time, the “Collateral Trust Agreement”), among Triumph Group, Inc., a Delaware corporation (the “Company”), the other Grantors from time to time party thereto, U.S. Bank
National Association, as Indenture Trustee, Wilmington Trust, National Association, as collateral trustee (in such capacity, the “Collateral Trustee”) and the other Secured Debt Representatives from time to time party thereto.
Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Collateral Trust Agreement. This Collateral Trust Agreement Joinder is being executed and delivered pursuant to Section 3.8 of the Collateral
Trust Agreement as a condition precedent to the debt for which the undersigned is acting as [trustee][agent][other capacity] being entitled to the benefits of being Additional Secured Debt under the Collateral Trust Agreement. 

1.    Joinder. The undersigned,
                    , a
                    , (the “New Representative”) as [trustee, administrative agent] under that certain [describe
applicable indenture, credit agreement or other document governing the Additional Secured Debt] hereby (a) represents that it is the [trustee/agent or other capacity] of [describe creditors] and (b) agrees to become party as a Secured
Debt Representative under the Collateral Trust Agreement for all purposes thereof on the terms set forth therein, and to be bound by the terms of the Collateral Trust Agreement as fully as if the undersigned had executed and delivered the Collateral
Trust Agreement as of the date thereof. 
 2.    Lien Sharing and Priority Confirmation. 

The undersigned New Representative, on behalf of itself and each holder of Obligations in respect of the Series of Secured Debt for which the
undersigned is acting as Secured Debt Representative hereby agrees, for the enforceable benefit of all holders of each existing and future Series of Secured Debt, each other existing and future Secured Debt Representative and each current and future
Secured Party and as a condition to being treated as Secured Debt under the Collateral Trust Agreement that: 
 (a) as
provided by Section 2.2 of the Collateral Trust Agreement, all Secured Obligations will be and are secured equally and ratably by all Priority Liens at any time granted by any Grantor to secure any Obligations in respect of any Series of
Secured Debt, whether or not upon property otherwise constituting collateral for such Series of Secured Debt, and that all such Priority Liens will be enforceable by the Collateral Trustee for the benefit of all Secured Parties equally and ratably
provided however, that notwithstanding the foregoing, (x) this provision will not be violated with respect to any particular Collateral and any particular Series of Secured Debt if the Secured Debt

  
 Exh. B-1 

 
Documents in respect thereof prohibit the applicable Secured Parties from accepting the benefit of a Lien on any particular asset or property or such Secured Party otherwise expressly declines in
writing to accept the benefit of a Lien on such asset or property and (y) this provision will not be violated with respect to any particular Hedging Obligations or Banking Services Obligations if the Hedge Agreement or agreement giving rise to
Banking Services Obligations prohibits the applicable Hedge Provider or Banking Services Provider from accepting the benefit of a Lien on any particular asset or property or such Hedge Provider or Banking Services Provider otherwise expressly
declines in writing to accept the benefit of a Lien on such asset or property; 
 (b)    the New
Representative and each holder of Obligations in respect of the Series of Secured Debt for which the undersigned is acting as Secured Debt Representative are bound by the provisions of this Agreement, including the provisions relating to the ranking
of Priority Liens and the order of application of proceeds from the enforcement of Priority Liens; 

(c)    it reaffirms the appointment of and appoints Wilmington Trust, National Association to serve as
Collateral Trustee under the Collateral Trust Agreement for itself and all other current and future Secured Parties under the Collateral Trust Agreement on the terms and conditions set forth therein; and 

(d)    the Collateral Trustee shall perform its obligations under the Collateral Trust Agreement and the
other Security Documents. 
 3.    Governing Law and Miscellaneous Provisions. The provisions of Article VII
of the Collateral Trust Agreement will apply with like effect to this Collateral Trust Agreement Joinder. 
 [Signature Pages Follow] 

  
 Exh. B-2 

 IN WITNESS WHEREOF, the parties hereto have caused this Collateral Trust Agreement Joinder
to be executed by their respective officers or representatives as of the date first written above. 
  

			
	[INSERT NAME OF THE NEW REPRESENTATIVE], as [indicate capacity]
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. B-3 

 The Collateral Trustee hereby acknowledges receipt of this Collateral Trust Agreement Joinder and agrees to
act as Collateral Trustee for the New Representative, the holders of the Obligations represented thereby and all other Secured Parties: 
  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Collateral Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. B-4 

 EXHIBIT C 

to Collateral Trust Agreement 

[FORM OF] 
 COLLATERAL
TRUST AGREEMENT JOINDER – ADDITIONAL GRANTOR 
             ,
20         
 Reference is made to the Collateral Trust Agreement, dated as of
August 17, 2020 (as amended, supplemented, amended and restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”), among Triumph Group, Inc., a Delaware corporation (the
“Company”), the other Grantors from time to time party thereto, U.S. Bank National Association, as Indenture Trustee, Wilmington Trust, National Association, as collateral trustee (in such capacity, the “Collateral
Trustee”) and the other Secured Debt Representatives from time to time party thereto. Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Collateral Trust Agreement. This Collateral Trust
Agreement Joinder is being executed and delivered pursuant to Section 7.18 of the Collateral Trust Agreement. 

1.    Joinder. The undersigned,
                    , a
                     (the “New Grantor”), hereby agrees to become party as a “Grantor” under the Collateral
Trust Agreement for all purposes thereof on the terms set forth therein, and to be bound by the terms of the Collateral Trust Agreement as fully as if the undersigned had executed and delivered the Collateral Trust Agreement as of the date thereof.

 2.    Governing Law and Miscellaneous Provisions. The provisions of Article VII of the Collateral Trust
Agreement will apply with like effect to this Collateral Trust Agreement Joinder. 
 [Signature Pages Follow] 

  
 Exh. C-1 

 IN WITNESS WHEREOF, the New Grantor has caused this Collateral Trust Agreement Joinder to be
executed by its officers or other representatives as of the date first written above. 
  

			
	
[                  
      ]

		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. C-2 

 The Collateral Trustee hereby acknowledges receipt of this Collateral Trust Agreement Joinder and agrees to
act as Collateral Trustee with respect to the Collateral pledged by the new Grantor: 
  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Collateral Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. C-3 

 EXHIBIT D 

to Collateral Trust Agreement 

[FORM OF] 
 COLLATERAL
TRUST AGREEMENT JOINDER – HEDGE AGREEMENTS 

                    ,
20         
 Reference is made to the Collateral Trust Agreement, dated as of
August 17, 2020 (as amended, supplemented, amended and restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”), among Triumph Group, Inc., a Delaware corporation (the
“Company”), the other Grantors from time to time party thereto, U.S. Bank National Association, as Indenture Trustee, Wilmington Trust, National Association, as collateral trustee (in such capacity, the “Collateral
Trustee”) and the other Secured Debt Representatives from time to time party thereto. Capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Collateral Trust Agreement. This Collateral Trust
Agreement Joinder is being executed and delivered as a condition precedent to the debt for which the undersigned is acting as agent being entitled to the benefits of being Secured Obligations under the Collateral Trust Agreement. 

3.    Joinder. The undersigned,
                    , a
                    , (the “New Secured Party”) as a Hedge Provider under that certain [ISDA Master Agreement, dated as of
[ 🌑 ], between [ 🌑 ]] hereby agrees to become party as
a “Hedge Provider” and a “Secured Party” under the Collateral Trust Agreement for all purposes thereof on the terms set forth therein, and to be bound by the terms of the Collateral Trust Agreement as fully as if
the undersigned had executed and delivered the Collateral Trust Agreement as of the date thereof. 
 4.    Lien
Sharing and Priority Confirmation. 
 The undersigned New Secured Party hereby agrees, for the enforceable benefit of each current and
future Secured Debt Representative, and each current and future Secured Party and as a condition to being treated as Secured Obligations under the Collateral Trust Agreement that: 

(a)    all Secured Obligations will be and are secured equally and ratably by all Priority Liens at any
time granted by the Grantors to secure any Obligations in respect of any Series of Secured Debt, whether or not upon property otherwise constituting collateral for such Series of Secured Debt, and that all such Priority Liens will be enforceable by
the Collateral Trustee for the benefit of all Secured Parties equally and ratably; 
 (b)    the New
Secured Party is bound by the provisions of the Collateral Trust Agreement, including the order of application of proceeds from the enforcement of Priority Liens; and 

(c)    the Collateral Trustee shall perform its obligations under the Collateral Trust Agreement and the
other Security Documents. 

  
 Exh. D-1 

 5.    Governing Law and Miscellaneous Provisions. The provisions
of Article VII of the Collateral Trust Agreement will apply with like effect to this Collateral Trust Agreement Joinder. 
 [Signature
Pages Follow] 

  
 Exh. D-2 

 IN WITNESS WHEREOF, the parties hereto have caused this Collateral Trust Agreement Joinder
to be executed by their respective officers or representatives as of the date first written above. 
  

			
	[INSERT NAME OF THE NEW SECURED PARTY]
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. D-3 

 The Collateral Trustee hereby acknowledges receipt of this Collateral Trust Agreement
Joinder and agrees to act as Collateral Trustee for the New Secured Party: 
  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Collateral Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exh. D-4

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