Document:

EX-4.1.E

 Exhibit 4.1(e) 
 CANADIAN GUARANTEE 
 dated as of May 17, 2011 

among 

MASONITE INTERNATIONAL CORPORATION 
 and 
 MASONITE INC. 

and 

THE CANADIAN SUBSIDIARY GUARANTORS FROM TIME TO TIME PARTY 
 HERETO 
 and 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 
 as Administrative Agent 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I CANADIAN GUARANTEE
	  	 	2	  
			
	 Section 1.01
	 	The Canadian Guarantee	  	 	2	  
	 Section 1.02
	 	Guarantee Absolute; Waiver by the Canadian Guarantors	  	 	4	  
	 Section 1.03
	 	Payments	  	 	8	  
	 Section 1.04
	 	Discharge; Reinstatement in Certain Circumstances	  	 	9	  
	 Section 1.05
	 	Security for Guarantee	  	 	10	  
	 Section 1.06
	 	Agreement to Pay; Subordination of Subrogation Claims	  	 	11	  
	 Section 1.07
	 	Stay of Acceleration	  	 	11	  
	 Section 1.08
	 	No Set-Off	  	 	12	  
		
	 ARTICLE II SECURITY INTERESTS
	  	 	12	  
			
	 Section 2.01
	 	Indemnity and Subrogation	  	 	12	  
	 Section 2.02
	 	Contribution and Subrogation	  	 	12	  
		
	 ARTICLE III REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	 	13	  
			
	 Section 3.01
	 	Representations and Warranties; Certain Agreements	  	 	13	  
	 Section 3.02
	 	Information	  	 	13	  
	 Section 3.03
	 	Subordination by Canadian Guarantors	  	 	13	  
		
	 ARTICLE IV SET-OFF
	  	 	14	  
			
	 Section 4.01
	 	Right of Set-Off	  	 	14	  
		
	 ARTICLE V MISCELLANEOUS
	  	 	14	  
			
	 Section 5.01
	 	Notices	  	 	14	  
	 Section 5.02
	 	Benefits of Agreement	  	 	15	  
	 Section 5.03
	 	No Waivers; Non-Exclusive Remedies	  	 	15	  
	 Section 5.04
	 	Enforcement	  	 	16	  
	 Section 5.05
	 	Amendments and Waivers	  	 	16	  
	 Section 5.06
	 	Governing Law; Submission to Jurisdiction	  	 	16	  
	 Section 5.07
	 	Limitation of Law; Severability	  	 	17	  
	 Section 5.08
	 	Counterparts; Integration; Effectiveness	  	 	17	  
	 Section 5.09
	 	Waiver of Jury Trial	  	 	17	  
	 Section 5.10
	 	Additional Canadian Guarantors	  	 	17	  
	 Section 5.11
	 	Termination; Release of Canadian Guarantors	  	 	18	  
	 Section 5.12
	 	Conflict	  	 	18	  

  
 (i)

 CANADIAN GUARANTEE dated as of May 17, 2011 (as amended, restated, amended and
restated, modified or supplemented from time to time, this “Agreement”) among MASONITE INTERNATIONAL CORPORATION, a British Columbia corporation (the “Parent Borrower”), MASONITE INC., a British Columbia corporation
(“Holdings”) and the CANADIAN SUBSIDIARY GUARANTORS from time to time party hereto and WELLS FARGO CAPITAL FINANCE, LLC, as Administrative Agent for the benefit of the Secured Parties referred to herein. 

Holdings, Parent Borrower and Masonite Corporation, a Delaware corporation (the “Lead U.S. Borrower”) propose to enter
into a Credit Agreement dated as of May 17, 2011 (as amended, restated, amended and restated, modified or supplemented from time to time and including any agreement extending the maturity of, refinancing or otherwise amending, amending and
restating or otherwise modifying or restructuring all or any portion of the obligations of Holdings or its Subsidiaries under such agreement or any successor agreement, the “Credit Agreement”) among Holdings, the Parent Borrower,
the Lead U.S. Borrower, the other Borrowers from time to time party thereto, the banks and other lending institutions from time to time party thereto (each a “Revolving Credit Lender” and, collectively, the “Revolving Credit
Lenders”), Wells Fargo Capital Finance, LLC, as Administrative Agent and as an L/C Issuer (together with its successor or successors in each such capacity, the “Administrative Agent” and an “L/C Issuer”,
respectively), any syndication agent party thereto (together with its respective successor or successors in such capacity, the “Syndication Agent”) and any documentation agent party thereto (together with its respective successor or
successors in such capacity, the “Documentation Agent”). Capitalized terms used but not defined herein shall have the meaning set forth in the Credit Agreement. 

Certain Revolving Credit Lenders or their Affiliates at the time acting as Hedge Banks may from time to time provide forward rate
agreements, options, swaps, caps, floors and other Swap Contracts to the Loan Parties. In addition, certain Revolving Credit Lenders or their Affiliates at the time acting as Cash Management Banks may provide treasury management services to, for the
benefit of, or otherwise in respect of, the Loan Parties (including treasury, depository, overdraft, credit or debit card, electronic funds transfer and other cash management arrangements). The Revolving Credit Lenders, each L/C Issuer, the
Administrative Agent, each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to the Credit Agreement, any Syndication Agent, any Documentation Agent, Wells Fargo Capital Finance, LLC, as collateral agent
(together with its successor or successors in such capacity, the “Collateral Agent”), and each Related Party of any of the foregoing and their respective successors and assigns are herein referred to individually as a
“Senior Credit Party” and collectively as the “Senior Credit Parties” and the Senior Credit Parties, the Hedge Banks, the Cash Management Banks and their respective successors and assigns are herein referred to
individually as a “Secured Party” and collectively, the “Secured Parties”. 
 To induce the
Revolving Credit Lenders to enter into the Credit Agreement and the other Loan Documents, the Cash Management Banks to enter into Secured Cash Management Agreements and the Hedge Banks to enter into Secured Hedge Agreements permitted under the
Credit Agreement (the Loan Documents, the Secured Cash Management Agreements and the Secured Hedge Agreements being herein collectively referred to as the “Finance Documents”), and as a condition precedent to the obligations of the
Revolving Credit 

  
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Lenders under the Credit Agreement, the Parent Borrower and each other Subsidiary of Holdings that is organized under the laws of Canada or any political subdivision thereof and that is either
listed on the signature pages hereof or becomes a party hereto from time to time in accordance with Section 5.11 hereof (each a “Canadian Subsidiary Guarantor” and, collectively, the “Canadian Subsidiary
Guarantors” and, together with Holdings, each a “Canadian Guarantor” and, collectively, the “Canadian Guarantors”) have agreed, jointly and severally, to provide a guarantee of all obligations of the
Borrowers and the other Loan Parties under and in respect of the Finance Documents. As used herein, “Other Loan Parties” means, with respect to any Canadian Guarantor, any and all of the Loan Parties other than such Canadian
Guarantor. 
 Holdings is the direct parent of the Parent Borrower, the Parent Borrower is the direct parent of the Lead U.S.
Borrower and each of the Canadian Subsidiary Guarantors is a direct or indirect Canadian Subsidiary of Holdings. Holdings, the Parent Borrower and the Canadian Subsidiary Guarantors will receive not insubstantial benefits from the Credit Agreement
and the Revolving Credit Loans, Letters of Credit and other financial accommodations to be made; issued or entered into thereunder and from the other financial accommodations to be made under the other Finance Documents. 

Accordingly, in consideration of the foregoing, the mutual covenants and obligations herein set forth and for other good and valuable
consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 ARTICLE I 
 CANADIAN GUARANTEE 

Section 1.01 The Canadian Guarantee. 
 To the fullest extent permitted by Law, each Canadian Guarantor unconditionally guarantees, jointly and severally with the other Canadian Guarantors, as a primary obligor and not merely as a surety:
(x) the due and punctual payment of: 
 (i) all principal of and interest (including, without limitation,
any interest which accrues after the commencement of any proceeding of the type described in Section 8.01(f) or (g) of the Credit Agreement (each an “Insolvency or Liquidation Proceeding”), whether or not allowed or
allowable as a claim in any such proceeding) on all Revolving Credit Loans and L/C Obligations incurred by any Other Loan Party as a Borrower under, or any Note issued by any Other Loan Party as a Borrower pursuant to, the Credit Agreement or any
other Loan Document; 
 (ii) all amounts now or hereafter payable by any Other Loan Party as a Guarantor pursuant
to any Loan Document; 
 (iii) all reasonable, documented, out-of-pocket fees and expenses, indemnification
obligations and other amounts of whatever nature now or hereafter payable by any Other Loan Party (including, without limitation, any amounts which accrue after the commencement of any Insolvency or Liquidation Proceeding with respect to such Other
Loan Party, whether or not allowed or allowable as a claim in any such proceeding) pursuant to the Credit Agreement or any other Loan Document; 

  
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 (iv) all reasonable, documented, out-of-pocket expenses of any Agent as to
which one or more of them have a right to reimbursement by any Loan Party under Section 10.04(a) of the Credit Agreement or under any other similar provision of any Loan Document, including, without limitation, any and all sums advanced by any
Agent to preserve the Collateral or preserve its security interests in the Collateral to the extent permitted under any Loan Document or applicable Law; 
 (v) all amounts paid by any Indemnitee as to which such Indemnitee has the right to reimbursement by any Loan Party under Section 10.04(b) of the Credit Agreement or under any other similar provision
of any Loan Document; 
 (vi) all other amounts now or hereafter payable by any Other Loan Party and all other
obligations or liabilities now existing or hereafter arising or incurred (including, without limitation, any amounts which accrue after the commencement of any Insolvency or Liquidation Proceeding with respect to such Other Loan Party, whether or
not allowed or allowable as a claim in any such proceeding) on the part of any Other Loan Party pursuant to any Loan Document; 
 (vii) all Cash Management Obligations of a Loan Party owed or owing under any Secured Cash Management Agreement to a Cash Management Bank; and 

(viii) all Swap Obligations of a Loan Party permitted under the Credit Agreement owed or owing under any Secured Hedge
Agreement to any Hedge Bank; 
 in each case together with all renewals, modifications, consolidations or extensions thereof and whether now or
hereafter due, owing or incurred in any manner, whether actual or contingent, whether incurred solely or jointly with any other Person and whether as principal or surety (and including all liabilities in connection with any notes, bills or other
instruments accepted by any Secured Party in connection therewith), together in each case with all renewals, modifications, consolidations or extensions thereof; and (y) the due and punctual performance of all covenants, agreements, obligations
and liabilities of each Other Loan Party under or pursuant to the Finance Documents (all such monetary and other obligations referred to in clauses (x) and (y) above being herein collectively referred to as the “Guaranteed
Obligations”). 
 The books and records of the Administrative Agent showing the amount of the Guaranteed Obligations
shall be admissible in evidence in any action or proceeding, and shall be binding upon each Canadian Guarantor and conclusive for the purpose of establishing the amount of the Guaranteed Obligations. 

Anything contained in this Agreement to the contrary notwithstanding, the obligations of each Canadian Guarantor hereunder with respect
to Guaranteed Obligations owed by any Other Loan Party shall be limited to a maximum aggregate amount equal to the greatest amount that would not render such Canadian Guarantor’s obligations hereunder subject to avoidance as a fraudulent
transfer or conveyance under any provisions of applicable Law (collectively, the “Fraudulent Transfer Laws”), in each case after giving effect to all other 

  
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liabilities of such Canadian Guarantor, contingent or otherwise, that are relevant under the Fraudulent Transfer Laws (specifically excluding, however, any liabilities of such Canadian
Guarantor (i) in respect of intercompany indebtedness to any Other Loan Party or any of its Affiliates to the extent that such indebtedness (A) would be discharged or would be subject to a right of set-off in an amount equal to the amount
paid by such Canadian Guarantor hereunder or (B) has been pledged to, and is enforceable by, the Collateral Agent on behalf of the Secured Parties and (ii) under any guarantee of Indebtedness subordinated in right of payment to the
Guaranteed Obligations which guarantee contains a limitation as to a maximum amount similar to that set forth in this paragraph pursuant to which the liability of such Canadian Guarantor hereunder is included in the liabilities taken into account in
determining such maximum amount) and after giving effect as assets of such Canadian Guarantor to the value (as determined under the applicable provisions of the Fraudulent Transfer Laws) of any rights to subrogation, contribution, reimbursement,
indemnity or similar rights of such Canadian Guarantor pursuant to (i) applicable Law or (ii) any agreement providing for an equitable allocation among such Canadian Guarantor and any Other Loan Party and its Affiliates of obligations
arising under guaranties by such parties (including the agreements in Article II of this Agreement). If any Canadian Guarantor’s liability hereunder is limited pursuant to this paragraph to an amount that is less than the total amount of the
Guaranteed Obligations, then it is understood and agreed that the portion of the Guaranteed Obligations for which such Canadian Guarantor is liable hereunder shall be the last portion of the Guaranteed Obligations to be repaid. 

Section 1.02 Guarantee Absolute; Waiver by the Canadian Guarantors. 

(a) Waiver. Each Canadian Guarantor hereby waives, to the fullest extent permitted by Law, presentment to, demand of payment
from and protest to the Other Loan Parties of any of the Guaranteed Obligations, and also waives promptness, diligence, notice of acceptance of its guarantee, any other notice with respect to any of the Guaranteed Obligations and this Agreement and
any requirement that any Agent or any other Secured Party protect, secure, perfect or insure any Lien or any property subject thereto. Each Canadian Guarantor further waives any right to require that resort be had by any Agent or any other Secured
Party to any security held for payment of the Guaranteed Obligations or to any balance of any deposit, account or credit on the books of the any Agent or any other Secured Party in favor of any Loan Party or any other Person. All waivers contained
in this Guarantee shall be without prejudice to the right of the Administrative Agent to proceed against any Loan Party or any other Person, whether by separate action or by joinder. 

(b) Guarantee Absolute. Each Canadian Guarantor guarantees that the Guaranteed Obligations will be paid and performed
strictly in accordance with the terms of the Finance Documents to the fullest extent permitted by Law. The obligations of the Canadian Guarantors under this Agreement are independent of the Guaranteed Obligations, and a separate action or separate
actions may be brought and prosecuted against each Canadian Guarantor to enforce this Agreement, irrespective of whether any action is brought against any Other Loan Party or whether any Other Loan Party is joined in any such action or actions. This
Agreement is an absolute and unconditional guarantee of payment when due, and not of collection, by each Canadian Guarantor, jointly and severally with each other Canadian Guarantor of the Guaranteed Obligations in each and every particular. The
obligations of each Canadian Guarantor hereunder are primary obligations concerning which each Canadian Guarantor is the principal obligor. The Secured Parties shall not be required to mitigate damages or take any action to reduce, collect or
enforce the Guaranteed Obligations. 

  
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 The obligations of each Canadian Guarantor hereunder shall not be subject to any reduction,
limitation, impairment or termination for any reason, including the existence of any claim, set-off or other right which any Canadian Guarantor may have at any time against any Other Loan Party, any Agent or other Secured Party or any other Person,
whether in connection herewith or any unrelated transactions. Without limiting the generality of the foregoing, each Canadian Guarantor’s liability shall extend to all amounts that constitute part of the Guaranteed Obligations and would be owed
by any Other Canadian Loan Party to any Secured Party under the Finance Documents but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, insolvency, reorganization or similar proceeding involving any
Other Canadian Loan Party. 
 Each Canadian Guarantor has irrevocably and unconditionally delivered this Agreement to the
Administrative Agent, for the benefit of the Secured Parties, and the failure by any Other Loan Party or any other Person to sign this Agreement or a guarantee similar to this Agreement shall not discharge the obligations of any Canadian Guarantor
hereunder. The irrevocable and unconditional liability of each Canadian Guarantor hereunder applies whether it is jointly and severally liable for the entire amount of the Guaranteed Obligations, or only for a pro-rata portion, and without regard to
any rights (or the impairment thereof) of subrogation, contribution or reimbursement that such Canadian Guarantor may now or hereafter have against any Other Loan Party or any other Person. This Agreement is and shall remain fully enforceable
against each Canadian Guarantor irrespective of any defenses that any Other Loan Party may have or assert in respect of the Guaranteed Obligations, including, without limitation, failure of consideration, breach of warranty, payment, statute of
frauds, statute of limitations, accord and satisfaction and usury, except that a Canadian Guarantor may assert the defense of final payment in full of the Guaranteed Obligations. 

(c) Guarantee Not Affected, Etc. Without limiting the generality of the foregoing, the obligations of each Canadian
Guarantor hereunder shall not be released, discharged or otherwise affected or impaired by, and each Guarantor hereby waives any rights (including rights to notice), which such Canadian Guarantor might otherwise have as a result of or in connection
with any of the following: 
 (i) any extension, renewal, refinancing, settlement, adjustment, alteration,
indulgence, forbearance, compromise, acceleration, increase, decrease, waiver or release in respect of any Finance Document or any other agreement or instrument evidencing or securing any Guaranteed Obligation, by operation of Law or otherwise;

 (ii) any change in the manner, place, time or terms of payment of any Guaranteed Obligation or any other
amendment, supplement, or modification to, or waiver of any provision of, the Credit Agreement, the Notes, any other Finance Document or any other agreement or instrument evidencing or securing any Guaranteed Obligation or the taking or accepting of
any other security, collateral or guarantee, or other assurance of payment, for all or any part of the Guaranteed Obligations; 

  
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 (iii) any release, non-perfection or invalidity of any direct or indirect
security for any Guaranteed Obligation, any sale, exchange, surrender, realization upon, offset against or other action in respect of any direct or indirect security for any Guaranteed Obligation or any release of any Other Loan Party or any other
guarantor or guarantors of any Guaranteed Obligation; 
 (iv) the insolvency, bankruptcy, arrangement,
adjustment, composition, liquidation, disability, dissolution or lack of power of any Other Loan Party or any other Person at any time liable for the payment of all or part of the Guaranteed Obligations; or any dissolution of any Other Loan Party;
or any change, restructuring or termination of the corporate structure or existence of any Other Loan Party; or any sale, lease or transfer of any or all of the assets of any Other Loan Party; or any change in the shareholders, partners, or members
of any Other Loan Party; or any default, failure or delay, willful or otherwise, in the performance of the Guaranteed Obligations; 
 (v) the existence of any claim, set-off or other right (other than a defense of payment or performance) which any Canadian Guarantor may have at any time against any Other Loan Party, any Agent, any other
Secured Party or any other Person, whether in connection herewith or any unrelated transaction; provided that nothing herein shall prevent the assertion of any such claim by separate suit or compulsory counterclaim; 

(vi) any invalidity or unenforceability relating to or against any Other Loan Party for any reason of the Credit
Agreement, any Note, any other Finance Document or any other agreement or instrument evidencing or securing any Guaranteed Obligation or any provision of applicable Law purporting to prohibit the payment by any Other Loan Party of any Guaranteed
Obligation, or any document or agreement executed in connection with the Guaranteed Obligations, for any reason whatsoever, including the fact that the Guaranteed Obligations, or any part thereof, exceed the amount permitted by Law, the act of
creating the Guaranteed Obligations or any part thereof is ultra vires, the officers or representatives executing the documents or otherwise creating the Guaranteed Obligations acted in excess of their authority, the Guaranteed Obligations violate
applicable usury laws, any Other Loan Party has valid defenses, claims or offsets (whether at law, in equity or by agreement) which render the Guaranteed Obligations wholly or partially uncollectible from such Other Loan Party, the creation,
performance or repayment of the Guaranteed Obligations (or the execution, delivery and performance of any document or instrument representing part of the Guaranteed Obligations or executed in connection with the Guaranteed Obligations or given to
secure the repayment of the Guaranteed Obligations) is illegal, uncollectible, legally impossible or unenforceable, or the documents or instruments pertaining to the Guaranteed Obligations have been forged or otherwise are irregular or not genuine
or authentic; 
 (vii) any failure by any Agent or any other Secured Party: (A) to assert, file or enforce a
claim or demand or to exercise any right or remedy against any Other Loan Party or its estate (in a bankruptcy or other proceeding); (B) to give notice of the existence, creation or incurrence by any Other Loan Party of any new or additional
indebtedness or obligation under or with respect to the Guaranteed Obligations; (C) to 

  
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commence any action against any Other Loan Party; (D) to disclose to any Canadian Guarantor any facts which such Agent or such other Secured Party may now or hereafter know with regard to
any Other Loan Party; or (E) to proceed with due diligence in the collection, protection or realization upon any Collateral securing the Guaranteed Obligations; 

(viii) any direction as to application of payment by any Other Loan Party or any other Person; 

(ix) any subordination by any Secured Party of the payment of any Guaranteed Obligation to the payment of any other
liability (whether matured or unmatured) of any Other Loan Party to its creditors; 
 (x) any act or failure to
act by the Administrative Agent or any other Secured Party under this Agreement or otherwise which may deprive any Canadian Guarantor of any right to subrogation, contribution or reimbursement against any Other Loan Party or any right to recover
full indemnity for any payments made by such Canadian Guarantor in respect of the Guaranteed Obligations; 
 (xi)
any release, surrender, exchange, subordination, deterioration, waste, loss or impairment (including negligent, willful, unreasonable or unjustifiable impairment) of any Letter of Credit, Collateral, property or security, at any time existing in
connection with, or assuring or securing payment of, all or any part of the Guaranteed Obligations; 
 (xii) the
fact that all or any of the Guaranteed Obligations cease to exist by operation of Law, including by way of a discharge, limitation or tolling thereof under applicable Debtor Relief Laws; 

(xiii) any right that any Canadian Guarantor may now or hereafter have under the PPSA or otherwise to unimpaired
Collateral; 
 (xiv) any payment by any Other Loan Party to the Administrative Agent, any other Agent or any
other Secured Party being held to constitute a preference under Title 11 of the United States Code or any similar federal, foreign, provincial, state or local Law, or for any reason any Agent or any other Secured Party being required to refund such
payment or pay such amount to any Other Loan Party or any other Person; 
 (xv) any full or partial release of
the liability of any Other Loan Party or of any other Person now or hereafter liable, directly or indirectly, jointly, severally or jointly and severally, to pay, perform, guarantee or assure the payment of the Guaranteed Obligations or any part
thereof; or 
 (xvi) any other act or omission to act or delay of any kind by any Loan Party, the Administrative
Agent or any Secured Party or any other Person or any other circumstance whatsoever which might, but for the provisions of this clause, constitute a legal or equitable discharge of any Canadian Guarantor’s obligations hereunder. 

  
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 Section 1.03 Payments. 

(a) Payments to be Made Upon Default. If any Loan Party fails to pay or perform any Guaranteed Obligation when due in
accordance with its terms (whether at stated maturity, by acceleration or otherwise) or if any Default or Event of Default specified in Section 8.01(f) or (g) of the Credit Agreement occurs with respect to any Loan Party, the Canadian
Guarantors shall, forthwith on demand of the Administrative Agent, pay the aggregate amount of all Guaranteed Obligations due and owing to the Administrative Agent. 
 (b) Payments Free of Taxes. Any and all payments by or on account of any obligation of any Canadian Guarantor hereunder or under any other Loan Document shall to the extent permitted by
applicable Laws be made free and clear of and without reduction or withholding for any Taxes on the basis set forth in Section 3.01 of the Credit Agreement. If at any time any applicable Law requires any Canadian Guarantor to make any such
deduction or withholding from any such payment, the sum due from such Guarantor with respect to such payment shall be increased to the extent necessary to ensure that, after the making of such deduction or withholding, the applicable Secured Party
receives a net sum equal to the sum which it would have received had no deduction or withholding been required. 
 (c)
Application of Payments. 
 (i) Priority of Distributions. After the exercise of
remedies provided for in Section 8.02 of the Credit Agreement, all payments received by the Administrative Agent hereunder shall be applied as provided in Section 8.03 of the Credit Agreement. 

(ii) Distributions with Respect to Letters of Credit. Each of the Canadian Guarantors and the Secured
Parties agrees and acknowledges that, on the Maturity Date, while an Event of Default exists or as provided in Section 2.04 of the Credit Agreement, if (after all outstanding Revolving Credit Loans and L/C Obligations have been paid in full)
the Revolving Credit Lenders are to receive a distribution on account of undrawn amounts with respect to Letters of Credit issued (or deemed issued) under the Credit Agreement, such amounts shall be deposited in the U.S. L/C Cash Collateral Account
(as defined in the U.S. Security Agreement) or the Canadian L/C Cash Collateral Account (as defined in the Canadian Security Agreement), as applicable, as cash security for the repayment of Guaranteed Obligations owing to the Revolving Credit
Lenders as such. Upon termination of all outstanding Letters of Credit and payment in full of all L/C Obligations, all of such cash security shall be applied to the remaining Guaranteed Obligations of the Revolving Credit Lenders. If there remains
any excess cash security, such excess cash shall be withdrawn by the Collateral Agent from the U.S. L/C Cash Collateral Account or the Canadian Cash Collateral Account, as applicable, and distributed in accordance with Section 1.03(c)(i)
hereof. 
 (d) Foreign Currency. If any claim arising under or related to this Agreement is reduced to judgment
denominated in a currency (the “Judgment Currency”) other than the currencies in which the Guaranteed Obligations are denominated or the currencies payable hereunder (collectively the “Obligations Currency”), the
judgment shall be for the equivalent in the Judgment Currency of the amount of the claim denominated in the Obligations Currency 

  
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included in the judgment, determined as of the date of judgment. The equivalent of any Obligations Currency amount in any Judgment Currency shall be calculated in accordance with Sections 1.07
and 10.19 of the Credit Agreement. Each Canadian Guarantor shall indemnify the Administrative Agent and hold the Administrative Agent harmless from and against all loss or damage resulting from any change in exchange rates between the date any claim
is reduced to judgment and the date of payment thereof by such Canadian Guarantor or any failure of the amount of any such judgment to be calculated as provided in this paragraph. 

(e) Interest. For the purposes of the Interest Act (Canada), the yearly rate of interest to which any rate calculated
on the basis of a period of time different from the actual number of days in the year (360 days, for example) is equivalent is the stated rate multiplied by the actual number of days in the year (365 days) and divided by the number of days in the
shorter period (360 days, in the example). 
 (b) Any provision of this Agreement that would oblige a Canadian Guarantor to pay
any fine, penalty or rate of interest on any arrears of principal or interest secured by a mortgage on real property or hypothec on immovables that has the effect of increasing the charge on arrears beyond the rate of interest payable on principal
money not in arrears shall not apply to such Canadian Guarantor, which shall be required to pay interest on money in arrears at the same rate of interest payable on principal money not in arrears. 

(c) If any provision of this Agreement would oblige a Canadian Guarantor to make any payment of interest or other amount payable to any
Secured Party in an amount or calculated at a rate which would be prohibited by law or would result in a receipt by that Secured Party of “interest” at a “criminal rate” (as such terms are construed under the Criminal Code
(Canada)), then, notwithstanding such provision, such amount or rate shall be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by applicable law or so
result in a receipt by that Secured Party of “interest” at a “criminal rate”, such adjustment to be effected, to the extent necessary (but only to the extent necessary), as follows: 

(i) first, by reducing the amount or rate of interest; and 

(ii) thereafter, by reducing any fees, commissions, costs, expenses, premiums and other amounts required to be paid which
would constitute interest for purposes of section 347 of the Criminal Code (Canada). 
 Section 1.04 Discharge; Reinstatement
in Certain Circumstances. 
 Each Canadian Guarantor’s obligations hereunder shall remain in full force and effect
until the latest to occur of (i) payment in full in cash of the principal of and interest (including interest accruing on or after the commencement of any Insolvency or Liquidation Proceeding), whether or not a claim for such interest is, or
would be, allowed in such Insolvency or Liquidation Proceeding) and premium, if any, on all indebtedness outstanding under the Revolving Credit Facility and termination of all commitments to lend or otherwise extend credit to the Loan Parties under
the Finance Documents, (ii) payment in full in cash of all other Guaranteed Obligations that are due and payable or otherwise accrued and owing at or prior to 

  
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the time such principal and interest are paid (including reasonable and documented legal fees and other out-of-pocket expenses, costs or charges accruing on or after the commencement of any
Insolvency or Liquidation Proceeding, whether or not a claim for such fees, expenses, costs or charges is, or would be, allowed in such Insolvency or Liquidation Proceeding, in each case, due in accordance with the Finance Documents, but excluding
contingent indemnification obligations), (iii) termination, cancellation or cash collateralization (in an amount required by the Credit Agreement) of, all Letters of Credit issued or deemed issued under the Loan Documents, (iv) termination
or cash collateralization (in an amount required by the Credit Agreement) of all Secured Hedge Agreements, unless other arrangements reasonably satisfactory to the applicable Hedge Bank have been made with respect to such Secured Hedge Agreements
and (v) termination or cash collateralization (in an amount required by the Credit Agreement) of all Secured Cash Management Agreements, unless other arrangements reasonably satisfactory to the applicable Cash Management Bank have been made
with respect to such Cash Management Agreements (the occurrence of all of the foregoing being referred to herein as the “Discharge of Finance Obligations”). No payment or payments made by any Other Loan Party or any other Person or
received or collected by any Secured Party from any Other Loan Party or any other Person by virtue of any action or proceeding or any set-off or appropriation or application at any time or from time to time in reduction of or in payment of the
Guaranteed Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any Canadian Guarantor hereunder, it being understood that each Canadian Guarantor shall, notwithstanding any such payment or payments, remain
liable for the Guaranteed Obligations until the Discharge of Finance Obligations. If at any time any payment by any Other Loan Party or any other Person of any Guaranteed Obligation is rescinded or must otherwise be restored or returned upon the
insolvency, bankruptcy, dissolution, liquidation or reorganization of any Other Loan Party or other Person or upon or as a result of the appointment of a receiver, intervener or conservator of, or trustee or similar officer for, such Other Loan
Party or other Person or a substantial portion of its respective property or otherwise, each Canadian Guarantor’s obligations hereunder with respect to such payment shall be reinstated as though such payment had been due but not made at such
time. Each Canadian Guarantor party hereto agrees that payment or performance of any of the Guaranteed Obligations or other acts which toll any statute of limitations applicable to the Guaranteed Obligations shall also toll the statute of
limitations applicable to each such Canadian Guarantor’s liability hereunder. Notwithstanding any other provision of this Agreement to the contrary, the Administrative Agent shall not be required to verify the payment of, or whether other
satisfactory arrangements have been made with respect to Guaranteed Obligations arising under Canadian Secured Cash Management Agreements and Canadian Secured Hedge Agreements unless the Administrative Agent has received prior written notice of such
Guaranteed Obligations, together with such supporting documentation as the Administrative Agent may request, from the applicable Canadian Cash Management Bank or Canadian Hedge Bank, as the case may be. 

Section 1.05 Security for Guarantee. 
 Each Canadian Guarantor party hereto authorizes the Collateral Agent in accordance with the terms and subject to the conditions set forth in the Collateral Documents, (i) to take and hold security
consisting of Collateral for the payment of the Guaranteed Obligations and to exchange, enforce, waive and release any such security, (ii) to apply such security and direct the order or manner of sale thereof as the Collateral Agent in its sole
discretion may 

  
 10 

 
determine and (iii) to release or substitute any one or more endorsees, other Canadian Guarantors or Other Loan Parties, in each case, as set forth in any Loan Document. The Collateral Agent
may, at its election, in accordance with the terms and subject to the conditions set forth in the Collateral Documents, foreclose on any security held by it by one or more judicial or nonjudicial sales, or exercise any other right or remedy
available to it against any Loan Party, or any security, without affecting or impairing in any way the liability of any Canadian Guarantor hereunder. 
 Section 1.06 Agreement to Pay; Subordination of Subrogation Claims. 
 In furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, any other Agent or any other Secured Party has at law or in equity against any Canadian Guarantor by
virtue hereof, upon the failure of any Other Loan Party to pay any Guaranteed Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, each Canadian Guarantor hereby promises to
and will forthwith pay, or cause to be paid, to the Administrative Agent or such other Secured Party as designated thereby in cash the amount of such unpaid Guaranteed Obligations. Upon payment by any Canadian Guarantor of any sums to the
Administrative Agent or any other Secured Party as provided above, all rights of such Canadian Guarantor against any Other Loan Party arising as a result thereof by way of right of subrogation, contribution, reimbursement, indemnity or otherwise
shall (including, without limitation, in the case of any Canadian Guarantor, any rights of such Canadian Guarantor arising under Article II of this Agreement) in all respects be postponed and deferred, and be subordinate and junior in right of
payment to the prior indefeasible payment in full in cash of all the Guaranteed Obligations, until the Discharge of Finance Obligations. No failure on the part of any Other Loan Party or any other Person to make any payments in respect of any
subrogation, contribution, reimbursement, indemnity or similar right (or any other payments required under applicable Law or otherwise) shall in any respect limit the obligations and liabilities of any Canadian Guarantor with respect to its
obligations hereunder. If any amount shall erroneously be paid to any Canadian Guarantor on account of such subrogation, contribution, reimbursement, indemnity or similar right, such amount shall be held in trust for the benefit of the Secured
Parties and shall forthwith be turned over to the Administrative Agent (duly endorsed by such Canadian Guarantor to the Administrative Agent, if required) to be credited against the payment of the Guaranteed Obligations, whether matured or
unmatured, in accordance with the terms of the Finance Documents. 
 Section 1.07 Stay of Acceleration. 

If acceleration of the time for payment of any amount payable by any Other Loan Party under or with respect to the Guaranteed Obligations
is stayed upon the insolvency or bankruptcy of such Other Loan Party, all such amounts otherwise subject to acceleration under the terms of the Credit Agreement, the Notes, any Secured Hedge Agreement, any Secured Cash Management Agreement or any
other agreement or instrument evidencing or securing the Guaranteed Obligations shall nonetheless be payable by the Canadian Guarantors hereunder, jointly and severally, forthwith on demand by the Administrative Agent, or, following payment in full
of the Senior Credit Obligations in respect of the Revolving Credit Facility and the termination of the Revolving Credit Commitments, the holders of more than 50% the obligations under all Secured Hedge Agreements and Secured Cash Management
Agreements, in the manner provided herein. 

  
 11 

 Section 1.08 No Set-Off. 

No act or omission of any kind or at any time on the part of any Secured Party in respect of any matter whatsoever shall in any way affect
or impair the rights of the Administrative Agent or any other Secured Party to enforce any right, power or benefit under this Agreement, and no set-off, claim, reduction or diminution of any Guaranteed Obligation or any defense of any kind or nature
which any Canadian Guarantor has or may have against any Other Loan Party or any Secured Party shall be available against the Administrative Agent or any other Secured Party in any suit or action brought by the Administrative Agent or any other
Secured Party to enforce any right, power or benefit provided for by this Agreement; provided that nothing herein shall prevent the assertion by any Canadian Guarantor of any such claim by separate suit or compulsory counterclaim. Except as
otherwise provided herein, nothing in this Agreement shall be construed as a waiver by any Canadian Guarantor of any rights or claims which it may have against any Secured Party hereunder or otherwise, but any recovery upon such rights and claims
shall be had from such Secured Party separately, it being the intent of this Agreement that each Canadian Guarantor shall be unconditionally, absolutely and jointly and severally obligated to perform fully all its obligations, covenants and
agreements hereunder for the benefit of each Secured Party. 
 ARTICLE II 

SECURITY INTERESTS 

Section 2.01 Indemnity and Subrogation. 
 In addition to all rights of indemnity and subrogation as the Canadian Guarantors may have under applicable Law (but subject to Section 1.06 above), each Canadian Guarantor and the Parent
Borrower (collectively, “Indemnifying Affiliates”) agrees that (i) if a payment shall be made by any Canadian Guarantor (an “Indemnified Guarantor”) under this Agreement in respect of the Guaranteed Obligations
of an Indemnifying Affiliate, such Indemnifying Affiliate shall indemnify the Indemnified Guarantor for the full amount of such payment and such Indemnifying Affiliate shall be subrogated to the rights of the person to whom such payment shall have
been made to the extent of such payment and (ii) if any assets of any Indemnified Guarantor shall be sold pursuant to any Finance Document to satisfy a claim of any Secured Party in respect of Guaranteed Obligations of an Indemnifying
Affiliate, the Indemnifying Affiliate shall indemnify such Indemnified Guarantor in an amount equal to the fair market value on the date of such sale of the assets so sold. 
 Section 2.02 Contribution and Subrogation. 
 Each Canadian
Guarantor (a “Contributing Guarantor”) agrees (subject to Section 1.06 above) that, if a payment shall be made by any other Canadian Guarantor under this Agreement or assets of any other Canadian Guarantor shall be sold
pursuant to any Collateral Document to satisfy a claim of any Secured Party and such other Canadian Guarantor (the “Claiming Guarantor”) shall not have been fully indemnified by the Indemnifying Affiliates as

  
 12 

 
provided in Section 2.01, the Contributing Guarantor shall indemnify the Claiming Guarantor in an amount equal to the amount of such payment or the fair market value of such assets on
the date of the sale, as the case may be, in each case multiplied by a fraction, the numerator of which shall be the net worth of the Contributing Guarantor on the date that the obligation(s) supporting such claim were incurred under this Agreement
and the denominator of which shall be the aggregate net worth of all the Canadian Guarantors on such date (or, in the case of any Canadian Guarantor becoming a party hereto pursuant to Section 5.10, the date of the Accession Agreement
executed and delivered by such Canadian Guarantor). Any Contributing Guarantor making any payment to a Claiming Guarantor pursuant to this Section 2.02 shall be subrogated to the rights of such Claiming Guarantor as an Indemnified
Guarantor under Section 2.01 to the extent of such payment, in each case subject to the provisions of Section 1.06. 
 ARTICLE III 
 REPRESENTATIONS, WARRANTIES AND COVENANTS 

Section 3.01 Representations and Warranties; Certain Agreements. 

Each Canadian Guarantor hereby represents, warrants and covenants as follows: 

(a) All representations and warranties contained in the Credit Agreement that relate to such Canadian Guarantor are true and correct in
all material respects (or, in the case of representations and warranties qualified by materiality or “Material Adverse Effect”, in all respects). 
 (b) Such Canadian Guarantor agrees to comply with each of the covenants contained in the Credit Agreement and the other Loan Documents that relate to such Canadian Guarantor. 

Section 3.02 Information. 
 Each of the Canadian Guarantors assumes all responsibility for being and keeping itself informed of the financial condition and assets of the Other Loan Parties and of all other circumstances bearing upon
the risk of nonpayment of the Guaranteed Obligations and the nature, scope and extent of the risks that such Canadian Guarantor assumes and incurs hereunder, and agrees that none of the Administrative Agent, any other Agent or any other Secured
Party will have any duty to advise any of the Canadian Guarantors of information known to it or any of them regarding such circumstances or risks. 
 Section 3.03 Subordination by Canadian Guarantors. 
 In addition
to the terms of subordination provided for under Section 1.06, each Canadian Guarantor hereby subordinates in right of payment all Indebtedness of the Other Loan Parties owing to it, whether originally contracted with such Canadian
Guarantor or acquired by such Canadian Guarantor by assignment, transfer or otherwise, whether now owed or hereafter arising, whether for principal, interest, fees, expenses or otherwise, together with all renewals, extensions, increases or
rearrangements thereof, to the prior indefeasible payment in full in cash of the Guaranteed Obligations, whether now owed or hereafter arising, whether for principal, interest (including interest accruing during the pendency of any Insolvency or
Liquidation Proceeding, regardless of whether allowed or allowable in such proceeding), fees, reasonable, documented, out-of-pocket expenses or otherwise, together with all renewals, extensions, increases or rearrangements thereof. 

  
 13 

 ARTICLE IV 
 SET-OFF 
 Section 4.01 Right of Set-Off. 

In addition to any rights now or hereafter granted under applicable law or otherwise, and not by way of limitation of any such rights,
upon the occurrence and during the continuance of any Event of Default under the Credit Agreement, each Secured Party is authorized at any time and from time to time, without presentment, demand, protest or other notice of any kind (all of such
rights being hereby expressly waived), to set off and to appropriate and apply any and all deposits (general or special, time or demand, provisional or final) and any other indebtedness at any time held by or owing to such Secured Party (including,
without limitation, branches, agencies or Affiliates of such Secured Party wherever located) to or for the credit or account of any Canadian Guarantor against obligations and liabilities of such Canadian Guarantor then due to the Secured Parties
hereunder, under the other Finance Documents or otherwise, and any such set-off shall be deemed to have been made immediately upon the occurrence of an Event of Default even though such charge is made or entered on the books of such Secured Party
subsequent thereto. 
 ARTICLE V 
 MISCELLANEOUS 
 Section 5.01 Notices. 

(a) Notices Generally. Unless otherwise expressly provided herein, all notices and other communications provided for
hereunder shall be in writing (including by facsimile transmission) and mailed, faxed or delivered, to the address, facsimile number or (subject to subsection (b) below) electronic mail address specified for notices: (i) in the case of any
Canadian Guarantor, as specified in or pursuant to Section 10.02 of the Credit Agreement; (ii) in the case of the Administrative Agent, the Collateral Agent or any Revolving Credit Lender, as specified in or pursuant to Section 10.02
of the Credit Agreement; (iii) in the case of any Hedge Bank, as set forth in any applicable Secured Hedge Agreement; (iv) in the case of any Cash Management Bank as set forth in any applicable Secured Cash Management Agreement;
(v) in the case of any party, at such other address as shall be designated by such party in a notice to the Administrative Agent and each other party hereto. Notices and other communications sent by hand or overnight courier service, or mailed
by certified or registered mail, shall be deemed to have been given when received; notices and other communications sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the
recipient, shall be deemed to have been given at the opening of business on the next business day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in subsection (b) below,
shall be effective as provided in such subsection (b). 

  
 14 

 (b) Electronic Communications. Notices and other communications hereunder may
be delivered or furnished by electronic communication (including e-mail and Internet or Intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to notices to any Revolving
Credit Lender or L/C Issuer if such Revolving Credit Lender or L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices by electronic communication. The Administrative Agent may, in its discretion,
agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. 

Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon
the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement); provided that if such notice or other
communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient, and (ii) notices or
communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication
is available and identifying the website address therefor. 
 Section 5.02 Benefits of Agreement. 

This Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective successors and assigns of the
parties hereto; provided that none of the Canadian Guarantors may assign or transfer any of its interests and obligations without prior written consent of the Administrative Agent (and any such purported assignment or transfer without such
consent shall be void); provided further that the rights of each Revolving Credit Lender to transfer, assign or grant participations in its rights and/or obligations hereunder shall be limited as set forth in Section 10.06 of the Credit
Agreement. Upon the assignment by any Senior Credit Party of all or any portion of its rights and obligations under the Credit Agreement pursuant to the terms thereof (including all or any portion of its Revolving Credit Commitments and the
Revolving Credit Loans owing to it) or any other Loan Document to any other Person, such other Person shall thereupon become vested with all the benefits and responsibilities in respect thereof granted to such transferor or assignor herein or
otherwise. 
 Section 5.03 No Waivers; Non-Exclusive Remedies. 

No failure or delay on the part of any Agent or any Secured Party to exercise, no course of dealing with respect to, and no delay in
exercising any right, power or privilege under this Agreement or any other Finance Document shall operate as a waiver thereof nor shall any single or partial exercise of any such right, power or privilege preclude any other or further exercise
thereof or the exercise of any other right, power or privilege. The rights and remedies provided herein and in the other Finance Documents are cumulative and are not exclusive of any other rights or remedies provided by Law. 

  
 15 

 Section 5.04 Enforcement. 

The Secured Parties agree that (a) this Agreement may be enforced only by (i) the action of the Administrative Agent (who may be
acting upon the instructions of the Required Revolving Lenders if required under the Loan Documents), or (ii) after the date on which all of the Senior Credit Obligations have been paid in full and all Revolving Credit Commitments have been
terminated, the holders of more than 50% of the obligations under all Secured Hedge Agreements and Secured Cash Management Agreements and (b) no other Secured Party shall have any right individually to seek to enforce this Agreement, it being
understood and agreed that such rights and remedies may be exercised by the Administrative Agent or the holders of more than 50% of the outstanding obligations under all Secured Cash Management Agreements and Secured Hedge Agreements, as the case
may be as provided above, for the benefit of the Secured Parties upon the terms of this Agreement. 
 Section 5.05 Amendments and
Waivers. 
 Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in
writing and is signed by each Canadian Guarantor directly or indirectly affected by such amendment or waiver (it being understood that the addition or release of any Canadian Guarantor hereunder shall not constitute an amendment or waiver affecting
any Canadian Guarantor other than the Canadian Guarantor so added or released) and either (i) at all times prior to the time at which all Senior Credit Obligations in respect of the Revolving Credit Facility have been paid in full and all
Revolving Credit Commitments have been terminated, the Administrative Agent (with the consent of the Required Lenders or, to the extent required by Section 10.01 of the Credit Agreement, such other portion of the Revolving Credit Lenders as may
be specified therein) or (ii) at all times after the Senior Credit Obligations in respect of the Revolving Credit Facility have been paid in full and all Revolving Credit Commitments have been terminated, the holders of more than 50% of the
obligations under all Secured Hedge Agreements and Secured Cash Management Agreements. 
 Section 5.06 Governing Law; Submission to
Jurisdiction. 
 THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE PROVINCE OF BRITISH COLUMBIA AND THE LAWS OF CANADA APPLICABLE THEREIN, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES. Each party hereto hereby irrevocably and unconditionally
submits, for itself and its property, to the nonexclusive jurisdiction of the courts of the Province of British Columbia, 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 irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such British Columbia court or to the
fullest extent permitted by applicable Law. Each party hereto irrevocably and unconditionally waives, to the fullest extent permitted by applicable Law, any objection which it may now or hereafter have to the laying of the venue of any such action
or proceeding arising out of or relating to this Agreement brought in such court and any claim that any such proceeding brought in any such court has been brought in an inconvenient forum. 

  
 16 

 Section 5.07 Limitation of Law; Severability. 

(a) All rights, remedies and powers provided in this Agreement may be exercised only to the extent that the exercise thereof does not
violate any applicable provision of Law, and all of the provisions of this Agreement are intended to be subject to all applicable mandatory provisions of Law which may be controlling and be limited to the extent necessary so that they will not
render this Agreement invalid, unenforceable in whole or in part, or not entitled to be recorded, registered or filed under the provisions of any applicable Law. 
 (b) If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (i) the legality, validity and enforceability of the remaining provisions of this
Agreement and the other Loan Documents shall not be affected or impaired thereby and (ii) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic
effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 Section 5.08 Counterparts; Integration; Effectiveness. 

This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures
thereto and hereto were upon the same instrument. This Agreement and the other Finance Documents constitute the entire agreement and understanding among the parties hereto and supersede any and all prior agreements and understandings, oral or
written, relating to the subject matter hereof and thereof. This Agreement shall become effective with respect to each Canadian Guarantor when the Administrative Agent shall have received counterparts hereof signed by itself and such Canadian
Guarantor. This Agreement may be transmitted and/or signed by facsimile or Adobe PDF file and if so transmitted or signed, shall, subject to requirements of law, have the same force and effect as a manually signed original and shall be binding on
the Canadian Guarantors, the Administrative Agent and the Parent Borrower (with respect to Section 2.01). 
 Section 5.09
Waiver of Jury Trial. 
 EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). 
 Section 5.10 Additional Canadian Guarantors. 
 It is understood
and agreed that any Subsidiary of Holdings that is required by the Credit Agreement to execute an Accession Agreement and counterpart of this Agreement after the date hereof shall, upon due execution and delivery of such Accession Agreement and

  
 17 

 
counterpart of this Agreement to the Administrative Agent, become a Canadian Guarantor hereunder with the same force and effect as if originally named as a Canadian Guarantor hereunder. The
execution and delivery of any such instrument shall not require the consent of any other Canadian Guarantor or other parties hereunder except for the Administrative Agent. The rights and obligations of each Canadian Guarantor or other party
hereunder shall remain in full force and effect notwithstanding the addition of any new Canadian Guarantor as a party to this Agreement. 

Section 5.11 Termination; Release of Canadian Guarantors. 
 (a) Termination. Upon the Discharge of Finance Obligations, this Agreement shall, subject to Section 1.04 hereof, automatically terminate and have no further force or effect, at
which time the Administrative Agent shall promptly execute and deliver to any Canadian Guarantor, at such Guarantor’s expense, all documents that such Canadian Guarantor may reasonably request to evidence such termination. 

(b) Release of Canadian Guarantors. If all of the capital stock of one or more of the Canadian Guarantors is sold or
otherwise disposed of to a Person other than Holdings or its Subsidiaries or is liquidated, in each case in compliance with the requirements of Section 7.04 or 7.05 of the Credit Agreement (or such sale, other disposition or liquidation has
been approved in writing by the Required Lenders (or all or such other portion of the Revolving Credit Lenders, if required by Section 10.01 of the Credit Agreement) and the proceeds of such sale, disposition or liquidation are applied in
accordance with the provisions of the Credit Agreement, to the extent applicable, such Canadian Guarantor or Canadian Guarantors shall be released from this Agreement, and this Agreement shall, as to each such Canadian Guarantor or Canadian
Guarantors, automatically terminate and have no further force or effect (it being understood and agreed that the sale in compliance with Section 7.04 or 7.05 of the Credit Agreement of one or more Persons that own, directly or indirectly, all
of the capital stock of any Canadian Guarantor to a Person other than Holdings or its Subsidiaries shall be deemed to be a sale of such Canadian Guarantor for purposes of this Section 5.11(b)), at which time the Administrative Agent
shall promptly execute and deliver to any Canadian Guarantor, at such Guarantor’s expense, all documents that such Canadian Guarantor may reasonably request to evidence such termination. 
 Section 5.12 Conflict. 
 To the extent that there is a conflict
or inconsistency between any provision hereof, on the one hand, and any provision of the Credit Agreement, on the other hand, the Credit Agreement shall control. 
 [Signature Pages Follow] 

  
 18 

 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 written above. 
 CANADIAN GUARANTORS: 

 

			
	 MASONITE INTERNATIONAL
 CORPORATION

		
	Per:	 	/s/ Mark J. Erceg
		 	Name: Mark J. Erceg
		 	 Title: Executive Vice President and Chief
           Financial Officer

  

			
	MASONITE INC.
		
	Per:	 	/s/ Frederick J. Lynch
		 	Name: Frederick J. Lynch
		 	Title: Chief Executive Officer and President

  

			
	CROWN DOOR CORPORATION
		
	Per:	 	/s/ Joanne M. Freiberger
		 	Name: Joanne M. Freiberger
		 	Title: Vice President and Treasurer

  

			
	CASTLEGATE ENTRY SYSTEMS INC.
		
	Per:	 	/s/ Joanne M. Freiberger
		 	Name: Joanne M. Freiberger
		 	Title: Vice President and Treasurer

 [Canadian Guarantee] 

  
 S-1

 Agreed to and Accepted:  
 WELLS FARGO BANK, NATIONAL ASSOCIATION  
 as Administrative Agent 

 

			
		
	Per:	 	/s/ Robert H. Milhorat
		 	Name: Robert H. Milhorat
		 	Title: Vice President

 [Canadian Guarantee] 

  
 S-2EX-4.1.F

 Exhibit 4.1(f) 
 AMENDMENT NO. 1 TO CREDIT AGREEMENT 
 AMENDMENT NO. 1 TO CREDIT AGREEMENT,
dated as of December 21, 2012 (this “Amendment No. 1”), is by and among Wells Fargo Bank, National Association (“Wells Fargo Bank”), a national banking association, as administrative agent pursuant to the Credit
Agreement as defined below (in such capacity, together with its successors and assigns, in such capacity, “Administrative Agent”) and as issuer of letters of credit pursuant to the Credit Agreement (in such capacity, together with its
successors and assigns, “L/C Issuer”), the parties to the Credit Agreement as lenders (individually, each a “Revolving Credit Lender” and collectively, “Revolving Credit Lenders”), Masonite International Corporation, a
British Columbia corporation (the “Canadian Borrower” or the “Parent Borrower”), Masonite Corporation, a Delaware corporation (the “Lead U.S. Borrower”), Masonite Primeboard, Inc., a North Dakota corporation
(“Primeboard”), Florida Made Door Co., a Florida corporation (“Florida Made” and, together with Lead U.S. Borrower, Primeboard and Canadian Borrower, collectively “Borrowers” and individually each a
“Borrower”), and Les Portes Baillargeon Inc., a corporation organized under the laws of Canada (the “Canadian Guarantor”). 
 W I T N E S S E T H : 
 WHEREAS, Administrative Agent, L/C Issuer, Revolving
Credit Lenders, Borrowers and Canadian Guarantor are parties to financing arrangements pursuant to which Revolving Credit Lenders may make loans and one or more L/C Issuers may issue letters of credit to Borrowers as set forth in the Credit
Agreement dated as of May 17, 2011, by and among Administrative Agent, Revolving Credit Lenders, Borrowers, Canadian Guarantor, Wells Fargo Bank, as L/C Issuer, Bank of America, N.A., as Syndication Agent, Royal Bank of Canada and Deutsche Bank
Securities Inc., as Co-Documentation Agents, and Wells Fargo Capital Finance, LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Royal Bank of Canada and Deutsche Bank Securities Inc., as Joint Lead Arrangers and Joint Lead
Bookrunners (as the same now exists or may hereafter be amended, modified, supplemented, extended, renewed, restated, restructured, refinanced or replaced, the “Credit Agreement”) and the other Loan Documents; 

WHEREAS, Masonite Inc., a British Colombia corporation, was amalgamated with the Parent Borrower; 

WHEREAS, the Canadian Guarantor became a Loan Party pursuant to the Loan Party Accession Agreement, dated as of May 23, 2012,
between the Canadian Guarantor and Administrative Agent; 
 WHEREAS, Borrowers have requested that Administrative Agent, L/C
Issuer and Revolving Credit Lenders agree to certain amendments to the Credit Agreement, and Administrative Agent, L/C Issuer and Required Revolving Lenders are willing to so agree, subject to the terms and conditions set forth herein, to make such
amendments, on the terms and conditions set forth herein; and 
 WHEREAS, by this Amendment No. 1, Administrative Agent,
L/C Issuer, Required Revolving Lenders, Borrowers and Canadian Guarantor intend to evidence such amendments; 

 NOW, THEREFORE, in consideration of the foregoing and the mutual agreements and covenants
contained herein, the parties hereto agree as follows: 
 1. Definitions. 

(a) Additional Definition. Section 1.01 of the Credit Agreement is hereby amended to include each of the following
definitions: 
 (i) “Amendment No. 1” means Amendment No. 1 to Credit Agreement by and among Borrowers,
Canadian Guarantor, Administrative Agent, L/C Issuer and Required Revolving Lenders, as the same now exists or may hereafter be amended, modified, supplemented, extended, renewed, restated, restructured, refinanced or replaced. 

(ii) “Amendment No. 1 Effective Date” means the date on which each of the conditions precedent to the effectiveness of
Amendment No. 1 have been satisfied. 
 (iii) “Approved Foreign Currency” means, with respect to any Letter of
Credit issued by an L/C Issuer, any currency (other than Dollars or Canadian Dollars) approved by such L/C Issuer in which such Letter of Credit is denominated. 
 (iv) “Significant Subsidiary” means any Restricted Subsidiary that would be a “significant subsidiary” as defined in Article One, rule 1-02 of Regulation S-X, promulgated pursuant to
the Securities Act of 1933, as such regulation is in effect on the date hereof. 
 (b) Amendments to Definitions. 

(i) Availability Reserves. The definition of “Availability Reserves” in Section 1.01 of the Credit Agreement is hereby
amended by (A) deleting the phrase “and (ix) such additional reserves” and replacing it with “(ix) a reserve established in the Credit Judgment of Administrative Agent to reflect fluctuations in the exchange rate of any
Approved Foreign Currency into Dollars or Canadian Dollars with respect to U.S. L/C Obligations or Canadian L/C Obligations denominated in such Approved Foreign Currency and (x) such additional reserves” and (b) deleting the phrase
‘pursuant to clause (ix) above and replacing it with “pursuant to clause (x) above.” 
 (ii) Canadian
Borrowing Base. The definition of “Canadian Borrowing Base” in Section 1.01 of the Credit Agreement is hereby amended by inserting immediately prior to the phrase “or the Canadian Collateral” the following phrase: “,
the Canadian Finance Obligations”. 
 (iii) Canadian Cash Management Bank. The definition of “Canadian Cash
Management Bank” in Section 1.01 of the Credit Agreement is hereby amended by inserting immediately prior to the period appearing at the end of such definition the following phrase: “or a Foreign Subsidiary of a Loan Party”.

  
 2 

 (iv) Canadian Finance Obligations. The definition of “Canadian Finance Obligations in
Section 1.01 of the Credit Agreement is hereby amended by deleting the phrase “of a Canadian Loan Party” from clause (ii) thereof. 
 (v) Canadian L/C Issuer. The definition of “Canadian L/C Issuer” in Section 1.01 of the Credit Agreement is hereby amended by deleting such definition and replacing it with the following:

 “Canadian L/C Issuer” means (i) Toronto Dominion Bank in its capacity as issuer of Canadian Letters of
Credit hereunder, and its successor issuer or successors in such capacity, (ii) each Canadian Revolving Credit Lender listed in Schedule 2.03 hereto as the issuer of an Existing Letter of Credit; (iii) Bank of America, N.A. or any of its
Affiliates, (iv) Wells Fargo bank or any of its any Affiliates and (v) any other Revolving Credit Lender which the Borrower Representative shall have designated as a “Canadian L/C Issuer” by prior written notice to the
Administrative Agent. Each reference herein to Toronto Dominion Bank solely in it capacity as Canadian L/C Issuer, shall be deemed to be the collective reference to Toronto Dominion Bank and Wells Fargo Bank. 

(vi) Canadian Letter of Credit. The definition of “Canadian Letter of Credit” in Section 1.01 of the Credit Agreement is
hereby amended by deleting such definition and replacing it with the following: 
 “Canadian Letter of Credit means any
standby letter of credit, commercial letter of credit or foreign guaranty (or with the consent of Administrative Agent, any similar instrument) issued under the Canadian Revolving Credit Facility.” 

(vii) Canadian Secured Cash Management Agreement. The definition of “Canadian Secured Cash Management Agreement” in
Section 1.01 of the Credit Agreement is hereby amended by deleting such definition and replacing it with the following: 

“Canadian Secured Cash Management Agreement” means any Secured Cash Management Agreement that is entered into by and
between any Canadian Loan Party or any Foreign Subsidiary of a Loan Party and any Canadian Cash Management Bank. 
 (viii)
Canadian Secured Hedge Agreement. The definition of “Canadian Secured Hedge Agreement” in Section 1.01 of the Credit Agreement is hereby amended by deleting such definition and replacing it with the following: 

“Canadian Secured Hedge Agreement” means any Secured Hedge Agreement that is entered into by and between any Canadian
Loan Party or any Foreign Subsidiary of a Loan Party and any Canadian Hedge Bank. 
 (ix) Cash Management Agreement. The
definition of “Cash Management Agreement” in Section 1.01 of the Credit Agreement is hereby amended by deleting such definition and replacing it with the following: 

  
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 “Cash Management Agreement” means any agreement to provide (a) cash
management services (other than Letters of Credit or Swap Contracts), including treasury, depository, controlled disbursement, lockbox, overdraft, credit or debit card, electronic funds transfer, automated clearinghouse transfer, wire transfer,
e-payable services, information reporting, stop payment services, and other cash management arrangements, and (b) other banking products or services (other than Letters of Credit or Swap Contracts), including purchase cards or stored value
cards. 
 (x) Cash Management Reserve. The definition of “Cash Management Reserve” in Section 1.01 of the Credit
Agreement is hereby amended by deleting such definition and replacing it with the following: 
 “Cash Management
Reserve” means, on any date of determination, the aggregate amount of reserves established by the Administrative Agent from time to time in its Credit Judgment against the U.S. Borrowing Base or the Canadian Borrowing Base in respect of
Cash Management Obligations, which shall not exceed the sum of the Dollar Equivalent of all Cash Management Obligations as reported to the Administrative Agent by each Cash Management Bank. 

(xi) Equivalent Amount. The definition of “Equivalent Amount” in Section 1.01 of the Credit Agreement is hereby amended
by deleting such definition and replacing it with the following: 
 “Equivalent Amount” means, at any time with
respect to any other currency, the amount of Dollars or Canadian Dollars, as applicable, into which an amount of such other currency may be converted, in either case as determined by the Administrative Agent at such time on the basis of the Spot
Rate in accordance with Section 1.07. 
 (xii) Finance Obligations. The definition of “Finance
Obligations” in Section 1.01 of the Credit Agreement is hereby amended by deleting such definition and replacing it with the following: 
 “Finance Obligations” means, at any date, (i) all Senior Credit Obligations, (ii) all Swap Obligations permitted hereunder then owing under any Secured Hedge Agreement to any
Hedge Bank and (iii) all Cash Management Obligations then owing under any Secured Cash Management Agreement to a Cash Management Bank. 
 (xiii) Secured Cash Management Agreement. The definition of “Secured Cash Management Agreement” in Section 1.01 of the Credit Agreement is hereby amended by deleting such definition and
replacing it with the following: 
 “Secured Cash Management Agreement” means any Cash Management Agreement
that is entered into by and between any Loan Party or a Subsidiary of Loan Party and any Cash Management Bank. 

  
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 (xiv) Secured Hedge Agreement. The definition of “Secured Hedge Agreement” in
Section 1.01 of the Credit Agreement is hereby amended by deleting such definition and replacing it with the following: 

“Secured Hedge Agreement” means any Swap Contract permitted under Article VI or VII that is entered into by and between
any Loan Party or a Subsidiary of a Loan Party and any Hedge Bank, a copy of which has been delivered to the Administrative Agent pursuant to a written notice executed by the Borrower Representative (on behalf of such Loan Party or Subsidiary) and
such Hedge Bank which notifies the Administrative Agent that such Swap Contract constitutes a Secured Hedge Agreement. 
 (xv)
U.S. Borrowing Base. The definition of “U.S. Borrowing Base” in Section 1.01 of the Credit Agreement is hereby amended by deleting such definition and replacing it with the following: 

“U.S. Borrowing Base” means, on any date of determination, an amount equal to the Loan Value of the Eligible Collateral
of the U.S. Borrowers less the Availability Reserve to the extent attributable to the U.S. Loan Parties, the U.S. Finance Obligations or the U.S. Collateral in the Administrative Agent’s Credit Judgment on such date. 

(xvi) U.S. Cash Management Bank. The definition of “U.S. Cash Management Bank” in Section 1.01 of the Credit Agreement is
hereby amended by adding the following immediately before the period appearing at the end of such definition: “or a Subsidiary of a Loan Party”. 
 (xvii) U.S. Finance Obligations. The definition of “U.S. Finance Obligations” in Section 1.01 of the Credit Agreement is hereby amended by deleting “of a U.S. Loan Party” from
clause (ii) thereof. 
 (xviii) U.S. Letter of Credit. The definition of “U.S. Letter of Credit” in
Section 1.01 of the Credit Agreement is hereby amended by deleting such definition and replacing it with the following: 

“U.S. Letter of Credit means any standby letter of credit, commercial letter of credit or foreign guaranty (or with the consent of
Administrative Agent, any similar instrument) issued under the U.S. Revolving Credit Facility.” 
 (xix) U.S. L/C Issuer.
The definition of “U.S. L/C Issuer” in Section 1.01 of the Credit Agreement is hereby amended by deleting such definition and replacing it with the following: 
 “U.S. L/C Issuer” means (i) Wells Fargo Bank in its capacity as issuer of U.S. Letters of Credit hereunder, and its successor issuer or successors in such capacity, (ii) each
U.S. Revolving Credit Lender listed in Schedule 2.03 hereto as the issuer of an Existing Letter of Credit; (iii) Bank of America, N.A. or any of its Affiliates, (iv) any Affiliate of Wells Fargo Bank and (v) any other Revolving Credit
Lender which the Borrower Representative shall have designated as a “ U.S. L/C Issuer” by prior written notice to the Administrative Agent. 

  
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 (xx) U.S. Secured Cash Management Agreement. The definition of “U.S. Secured Cash
Management Agreement” in Section 1.01 of the Credit Agreement is hereby amended by deleting the phrase “any U.S. Loan Party” and replacing it with “any U.S. Loan Party or any Subsidiary of a Loan Party”. 

(xxi) U.S. Secured Hedge Agreement. The definition of “U.S. Secured Hedge Agreement” in Section 1.01 of the Credit
Agreement is hereby amended by deleting the phrase “any U.S. Loan Party” and replacing it with “any U.S. Loan Party or any Subsidiary of a Loan Party”. 
 (c) Interpretation. For purposes of this Amendment No. 1, all terms used herein which are not otherwise defined herein, including but not limited to, those terms used in the recitals hereto,
shall have the respective meanings assigned thereto in the Credit Agreement as amended by this Amendment No. 1. 
 2.
Amendments to Credit Agreement. 
 (a) Currency Equivalents. Section 1.07 of the Credit Agreement is hereby
amended by deleting such Section and replacing it with the following: 
 “Section 1.07. Currency Equivalents
Generally. Any amount specified in this Agreement or any of the other Loan Documents to be in Dollars or Canadian Dollars (as the case may be) shall also include the equivalent of such amount in any currency other than Dollars or Canadian
Dollars (as the case may be), such equivalent amount thereof in the applicable currency to be determined by the Administrative Agent at such time on the basis of the Spot Rate (as defined below) for the purchase of such currency with Dollars or
Canadian Dollars (as the case may be). For purposes of this Section 1.07, the “Spot Rate” for a currency means the rate determined by the Administrative Agent to be the rate quoted by the Person acting in such capacity
as the spot rate for the purchase by such Person of such currency with another currency through its principal foreign exchange trading office at approximately 11:00 A.M. on the date two Business Days prior to the date of such determination;
provided that the Administrative Agent may obtain such spot rate from another financial institution designated by the Administrative Agent and reasonably acceptable to the Borrowers if the Person acting in such capacity does not have
as of the date of determination a spot buying rate for any such currency.” 
 (b) Letters of Credit. 

(i) Section 2.03(a)(i) of the Credit Agreement is hereby amended by deleting such Section and replacing it with the following:

 “(i) Subject to the terms and conditions set forth herein, (A) each U.S. L/C Issuer, in reliance upon the
agreements of the U.S. Revolving Credit Lenders set forth in this Section 2.03, (1) agrees (with respect to the U.S. Borrowers and their U.S. Subsidiaries) and may (with respect to Foreign Subsidiaries) from time to time on any business
Day during the period from the Effective Date until the Letter of Credit Expiration Date, to issue U.S. Letters of Credit for the account of the U.S. Borrowers or (subject to Section 2.03(1)) any of their U.S. Subsidiaries or Foreign
Subsidiaries, and to amend or extend U.S. Letters of Credit previously issued by it, in 

  
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accordance with Section 2.03(b), and (2) agrees to honor drawings under the U.S. Letters of Credit; and (B) the U.S. Revolving Credit Lenders severally agree to participate in U.S.
Letters of Credit issued for the account of the U.S. Borrowers or their U.S. Subsidiaries or Foreign Subsidiaries and any drawings thereunder; provided that after giving effect to any L/C Credit Extension with respect to any U.S. Letter of
Credit, (v) the Total Revolving Credit Outstandings shall not exceed the lesser of (I) the Revolving Credit Facility and (II) the Total Borrowing Base at such time, (w) the aggregate Outstanding Amount of the U.S. Revolving Credit
Loans of any U.S. Revolving Credit Lender, plus such U.S. Revolving Credit Lender’s Applicable Adjusted Percentage of the Outstanding Amount of all U.S. L/C Obligations and U.S. Swingline Loans shall not exceed such U.S. Revolving Credit
Lender’s U.S. Revolving Credit Commitment, (x) the Total U.S. Revolving Credit Outstandings shall not exceed the lesser of (I) the U.S. Revolving Credit Facility and (II) the U.S. Borrowing Base, (y) the Dollar Equivalent of the
Outstanding Amount of the U.S. L/C Obligations shall not exceed the U.S. Letter of Credit Sublimit and (z) the Outstanding Amount of the U.S. L/C Obligations plus the Outstanding Amount of the Canadian L/C Obligations shall not exceed the Total
Letter of Credit Sublimit; and, provided, further, that no U.S. Letter of Credit may be issued, amended or extended in a currency other than Dollars or, subject to the approval of the applicable U.S. L/C Issuer, any Approved Foreign
Currency. Each request by the Borrower Representative on behalf of a U.S. Borrower for the issuance or amendment of a U.S. Letter of Credit shall specify if such U.S. Letter of Credit is proposed to be issued for the account of any of the U.S.
Subsidiaries or Foreign Subsidiaries of the U.S. Borrowers and, if so, shall list the names of such Subsidiaries, and shall be deemed to be a representation by the Borrower Representative that the U.S. L/C Credit Extension so requested complies with
the conditions set forth in the provisos to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, the U.S. Borrowers’ ability to obtain U.S. Letters of Credit shall be fully revolving, and
accordingly the U.S. Borrowers may, during the foregoing period, obtain U.S. Letters of Credit to replace U.S. Letters of Credit that have expired or that have been drawn upon and reimbursed. All Existing Letters of Credit shall be deemed to have
been issued pursuant hereto, and from and after the Effective Date shall be subject to and governed by the terms and conditions hereof.” 
 (ii) Section 2.03(a)(ii) of the Credit Agreement is hereby amended by deleting such Section and replacing it with the following: 

“(ii) Subject to the terms and conditions set forth herein, (A) each Canadian L/C Issuer, in reliance upon the agreements of
the Canadian Revolving Credit Lenders set forth in this Section 2.03, (1) agrees (with respect to the Parent Borrower and its Canadian Subsidiaries) and may (with respect to its other Foreign Subsidiaries) from time to time on any Business
Day during the period from the Effective Date until the Letter of Credit Expiration Date, to issue Canadian Letters of Credit for the account of the Parent Borrower or (subject to Section 2.03(1)) any of its Foreign Subsidiaries, and to amend
or extend Canadian Letters of Credit previously issued by it, in accordance with Section 2.03(b), and (2) agrees to honor drawings under the Canadian Letters of Credit; and (B) the Canadian Revolving Credit Lenders severally
agree to participate in Canadian Letters of Credit issued for the account of the Parent Borrower or any of its Foreign Subsidiaries and any drawings thereunder; provided that after giving effect to any L/C Credit Extension with respect to any
Canadian Letter of Credit, (v) the Total Revolving Credit Outstandings shall not exceed the lesser of (I) the Revolving Credit 

  
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Facility and (II) the Total Borrowing Base at such time, (w) the aggregate Outstanding Amount of the Canadian Revolving Credit Loans of any Canadian Revolving Credit Lender, plus such
Canadian Revolving Credit Lender’s Applicable Adjusted Percentage of the Outstanding Amount of all Canadian L/C Obligations and Canadian Swingline Loans shall not exceed such Canadian Revolving Credit Lender’s Canadian Revolving Credit
Commitment, (x) the Total Canadian Revolving Credit Outstandings shall not exceed the lesser of (I) the Canadian Revolving Credit Facility and (II) the Canadian Borrowing Base, (y) the Outstanding Amount of the Canadian L/C
Obligations shall not exceed the Canadian Letter of Credit Sublimit and (z) the Outstanding Amount of the U.S. L/C Obligations plus the Outstanding Amount of the Canadian L/C Obligations shall not exceed the Total Letter of Credit Sublimit; and
provided, further, that no Canadian Letter of Credit may be issued, amended or extended in a currency other than Dollars or Canadian Dollars or, subject to the approval of the applicable Canadian L/C Issuer, any Approved Foreign
Currency. Each request by the Borrower Representative on behalf of the Parent Borrower for the issuance or amendment of a Canadian Letter of Credit shall specify if such Canadian Letter of Credit is proposed to be issued for the account of any of
the Foreign Subsidiaries of the Canadian Borrower and, if so, shall list the names of such Foreign Subsidiaries, and shall be deemed to be a representation by the Borrower Representative that the Canadian L/C Credit Extension so requested complies
with the conditions set forth in the provisos to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, the Parent Borrower’s ability to obtain Canadian Letters of Credit shall be fully revolving,
and accordingly the Parent Borrower may, during the foregoing period, obtain Canadian Letters of Credit to replace Canadian Letters of Credit that have expired or that have been drawn upon and reimbursed.” 

(iii) Section 2.03(a)(iv)(D) of the Credit Agreement is hereby amended by deleting such Section and replacing it with the
following: 
 “(D) such Letter of Credit is to be denominated in a currency other than (1) in the case of a U.S.
Letter of Credit, Dollars (except as provided by Section 2.03(a)(i)) or (2) in the case of Canadian Letters of Credit, Dollars or Canadian Dollars (except as provided in Section 2.03(a)(ii)); or” 

(iv) Section 2.03(c)(i) of the Credit Agreement is hereby amended by deleting such Section and replacing it with the following:

 “(i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit,
the applicable L/C Issuer shall notify the Borrower Representative and the Administrative Agent thereof. Not later than 11:00 A.M. on the date of any payment by the applicable L/C Issuer under a Letter of Credit (each such date, an “Honor
Date”), the applicable Borrower shall reimburse such L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If the applicable Borrower fails to so reimburse such L/C Issuer by such time, such L/C
Issuer shall notify the Administrative Agent who shall promptly notify each Appropriate Lender under the applicable Facility of the Honor Date, the Dollar Equivalent of the amount of the unreimbursed drawing (the “Unreimbursed
Amount”), and the amount of such Revolving Credit Lender’s Applicable Adjusted Percentage thereof. In such event, the applicable Borrower shall be deemed to have requested a Revolving

  
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Credit Borrowing of Base Rate Loans (in the case of U.S. Letters of Credit) or Canadian Base Rate Loans (in the case of Canadian Letters of Credit denominated in Dollars) or Canadian Prime Rate
Loans (in the case of Canadian Letters of Credit denominated in Canadian Dollars or an Approved Currency) to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in
Section 2.02 for the principal amount of Base Rate Loans, Canadian Base Rate Loans and Canadian Prime Rate Loans. Any notice given by an L/C Issuer or the Administrative Agent pursuant to this Section 2.03(c)(i) may be given
by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice. In the case of a Letter of Credit denominated in Dollars, the
applicable Borrower shall reimburse the applicable L/C Issuer in Dollars. In the case of a Letter of Credit denominated in Canadian Dollars, the applicable Borrower shall reimburse the applicable L/C Issuer in Canadian Dollars unless the Borrower
Representative shall have notified such L/C Issuer promptly following receipt of the notice of drawing that the applicable Borrower will reimburse such L/C Issuer in Dollars. In the case of a Letter of Credit denominated in an Approved Foreign
Currency, the applicable Borrower shall reimburse the applicable L/C Issuer in such Approved Foreign Currency unless the Borrower Representative shall have notified such L/C Issuer promptly following receipt of the notice of drawing that the
applicable Borrower will reimburse such L/C Issuer in Dollars. In the case of any such reimbursement in Dollars of a drawing under a Letter of Credit denominated in Canadian Dollars or an Approved Foreign Currency, the applicable L/C Issuer shall
notify the applicable Borrower and Administrative Agent of the Dollar Equivalent of the amount of the drawing promptly following the reasonable determination thereof.” 
 (v) Section 2.03(d)(i) of the Credit Agreement is hereby amended by inserting immediately prior to the period appearing at the end of such clause the following: “(or the Dollar Equivalent
thereof)”. 
 (vi) Section 2.03(g) of the Credit Agreement is hereby amended by deleting such section and replacing
it with the following: 
 “(g) Cash Collateral. Upon the request of the Administrative Agent, (i) if an L/C
Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing that has not been repaid or reimbursed in accordance with Section 2.03(c), or (ii) if, as of
the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, the applicable Borrowers shall, in each case, immediately Cash Collateralize the then Outstanding Amount of all applicable L/C Obligations in an amount
equal to 105% of the L/C Obligations (in the case of L/C Obligations relating to Letters of Credit denominated in an Approved Foreign Currency) or 100% of the other L/C Obligations. Sections 2.04 and 8.02(iii) set forth certain
additional requirements to deliver Cash Collateral hereunder. For purposes of this Agreement and the other Loan Documents and notwithstanding anything to the contrary contained in this Agreement or any other Loan Documents, “Cash
Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the applicable L/C Issuers and the Appropriate Lenders, as collateral for the L/C Obligations, cash or deposit account balances (in
Dollars or an Approved Foreign Currency reasonably acceptable to the Administrative Agent and the applicable L/C Issuer) an amount equal to 105% of the L/C 

  
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Obligations relating to Letters of Credit denominated in an Approved Foreign Currency or 100% of the other L/C Obligations, in each case pursuant to documentation in form and substance reasonably
satisfactory to the Administrative Agent and the applicable L/C Issuers (which documents are hereby consented to by the Revolving Credit Lenders). Derivatives of such term have corresponding meanings. Each applicable Borrower hereby grants to the
Administrative Agent, for the benefit of the L/C Issuers and the Revolving Credit Lenders, a security interest in all such cash, deposit accounts and all balances therein and all proceeds of the foregoing. Cash Collateral shall be maintained in
blocked, non-interest bearing deposit accounts at Wells Fargo Bank, the Canadian Reference Bank or such other commercial bank to which the Administrative Agent may consent in its sole discretion. If at any time the Administrative Agent reasonably
determines that any funds held as Cash Collateral are subject to any right or claim of any Person other than the Administrative Agent (or such other commercial bank to which the Administrative Agent has consented as described in the preceding
sentence) or that the total amount of such funds is less than the aggregate Outstanding Amount of all applicable L/C Obligations (or, in the case of any L/C Obligations relating to Letters of Credit denominated in an Approved Foreign Currency, 105%
of such aggregate Outstanding Amount of such L/C Obligations), the Borrowers will, within one Business Day of demand by the Administrative Agent, pay to the Administrative Agent, as additional funds to be deposited as Cash Collateral, an amount
equal to the excess of (x) such aggregate Outstanding Amount of L/C Obligations (or, in the case of any L/C Obligations relating to Letters of Credit denominated in an Approved Foreign Currency, 105% of such aggregate Outstanding Amount of such
L/C Obligations), over (y) the total amount of funds, if any, then held as Cash Collateral that the Administrative Agent determines to be free and clear of any such right and claim. Upon the drawing of any Letter of Credit for which funds are
on deposit as Cash Collateral, such funds shall be applied, to the extent permitted under applicable Laws, to reimburse the applicable L/C Issuer.” 
 (vii) Section 2.03(l) of the Credit Agreement is hereby amended by deleting such section and replacing it with the following: 
 “(l) Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, one or
more of Subsidiaries of a Loan Party, the applicable Borrower shall be a co-applicant and shall be obligated to reimburse the L/C Issuer hereunder for any and all drawings under such Letter of Credit. Each Borrower hereby acknowledges that the
issuance of Letters of Credit for the account of one or more Subsidiaries of a Loan Party inures to the benefit of such Borrower, and that such Borrower’s business derives substantial benefits from the businesses of such Subsidiaries.”

 (viii) Section 2.03(m) of the Credit Agreement is hereby amended by deleting such section and replacing it with the
following: 
 “(m) Reporting. Each L/C Issuer other than Wells Fargo Bank will report in writing to the
Administrative Agent (i) on the first Business Day of each week, the aggregate face amount of Letters of Credit issued by it and outstanding as of the last Business Day of the preceding week and the currency in which such Letters of Credit are
denominated, (ii) on or prior to each Business Day on which such L/C Issuer expects to issue, amend, renew or extend any Letter of Credit, the date of such issuance or amendment, and the aggregate face amount of

  
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Letters of Credit to be issued, amended, renewed or extended by it and outstanding after giving effect to such issuance, amendment, renewal or extension and the currency in which such Letters of
Credit are denominated (and such L/C Issuer shall advise the Administrative Agent on such Business Day whether such issuance, amendment, renewal or extension occurred and whether the amount thereof changed), (iii) on each Business Day on which
such L/C Issuer makes any L/C Disbursement, the date, currency and amount of such L/C Disbursement and (iv) on any Business Day on which any Borrower fails to reimburse an L/C Disbursement required to be reimbursed to such L/C Issuer on such
day, the date and amount of such failure and the currency of such L/C Disbursement.” 
 (c) Secured Cash Management
Agreements and Secured Hedge Agreements. Section 9.11 of the Credit Agreement is hereby amended by adding the following immediately after the period appearing at the end of such section. 

“If any Loan Party or any Subsidiary of a Loan Party enters into any Secured Cash Management Agreement or any Secured Hedge
Agreement, the Parent shall, prior to the date such Loan Party or Subsidiary enters into such Secured Cash Management Agreement or Secured Hedge Agreement, irrevocably notify the Administrative Agent in writing whether such Secured Cash Management
Agreement is a Canadian Secured Cash Management Agreement or a U.S. Secured Cash Management Agreement, whether such Secured Hedge Agreement is a Canadian Secured Hedge Agreement or a U.S. Secured Hedge Agreement, and whether the Finance Obligations
arising under or in connection with such Secured Cash Management Agreement or Secured Hedge Agreement will constitute Canadian Finance Obligations or U.S. Finance Obligations. If the Parent fails to give such notice to the Administrative Agent in
accordance with the immediately preceding sentence, then the Administrative Agent shall have the right to determine whether such Secured Cash Management Agreement is a Canadian Secured Cash Management Agreement or a U.S. Secured Cash Management
Agreement, whether such Secured Hedge Agreement is a Canadian Secured Hedge Agreement or a U.S. Secured Hedge Agreement, and whether the Finance Obligations arising under or in connection with such Secured Cash Management Agreement or Secured Hedge
Agreement constitute Canadian Finance Obligations or U.S. Finance Obligations.” 
 (d) Events of Default.

 (i) Section 8.1(f) of the Credit Agreement is hereby amended by deleting the phrase “Any Loan Party or any
Restricted Subsidiary thereof” and replacing it with “Any Borrower or any Significant Subsidiary (or any group of Subsidiaries that together would constitute a Significant Subsidiary)”. 

(ii) Section 8.1(g) of the Credit Agreement is hereby amended by deleting the reference to “Any Loan Party or any Restricted
Subsidiary thereof” and replacing it with “Any Borrower or any Significant Subsidiary (or any group of Subsidiaries that together would constitute a Significant Subsidiary)”. 

  
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 (e) Resignation as an L/C Issuer after Assignment. Section 10.06(g) of the
Credit Agreement is hereby amended by deleting such section and replacing it with the following: 
 “(g) Resignation as
an L/C Issuer after Assignment. Notwithstanding anything to the contrary contained herein, if at any time (i) Wells Fargo Bank or any other Revolving Credit Lender assigns all of its Revolving Credit Commitment and Revolving Credit Loans
pursuant to Section 10.06(b) or (ii) after giving effect to the resignation of a U.S. L/C Issuer or Canadian L.C. Issuer, there shall remain at least one U.S. L/C Issuer or One Canadian L/C Issuer, respectively, Wells Fargo Bank (and/or
Toronto Dominion Bank, as applicable) or such other Revolving Credit Lender may, upon 10 days’ notice to the Borrower Representative and the Revolving Credit Lenders, resign as U.S. L/C Issuer and/or Canadian L/C Issuer. In the event of any
such resignation as an L/C Issuer, the Borrower Representative shall be entitled to appoint from among the Revolving Credit Lenders one or more successor L/C Issuers hereunder; provided, however, that no failure by the Borrower Representative to
appoint any such successor shall affect the resignation of Wells Fargo Bank (and/or Toronto Dominion Bank, as applicable) or such other Revolving Credit Lender as an L/C Issuer. If Wells Fargo Bank (and/or Toronto Dominion Bank, as applicable) or
such other Revolving Credit Lender resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of an L/C Issuer hereunder with respect to all Letters of Credit issued by it which remain outstanding as of the effective
date of its resignation as an L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Revolving Credit Lenders to make Base Rate Loans, Canadian Base Rate Loans or Canadian Prime Rate Loans, as applicable, or fund
risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)). Upon the appointment of a successor L/C Issuer, (i) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the
retiring L/C Issuer, and (ii) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, issued by the retiring L/C Issuer and remaining outstanding at the time of such succession or make other
arrangements reasonably satisfactory to Wells Fargo Bank or such other Revolving Credit Lender to effectively assume the obligations of Wells Fargo Bank (and/or Toronto Dominion Bank, as applicable) or such other Revolving Credit Lender with respect
to such Letters of Credit.” 
 3. Representations and Warranties. Each Borrower and Canadian Guarantor, jointly and
severally, represents and warrants to Revolving Credit Lenders as follows: 
 (a) the execution, delivery and performance by
each Loan Party of this Amendment No. 1 and each other document, instrument or agreement executed by each Loan Party in connection herewith (collectively, with this Amendment No. 1, the “Amendment Documents”) to which such Person
is party has been duly authorized by all necessary corporate, partnership, limited liability company or other organizational action, and does not and will not (i) contravene the terms of any of such Person’s Organization Documents;
(ii) conflict with or result in any breach or contravention of, or the creation of any Lien (other than Permitted Liens) under, (A) any Contractual Obligation to which such Person is a party or (B) any order, injunction, writ or
decree of any Governmental Authority or any arbitral award to which such Person or its property is subject, except in each case for such violations which could not reasonably be expected, individually or in the aggregate, to have a Material Adverse
Effect; or (iii) violate any Law, except in each case for such violations which could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect; 

  
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 (b) no approval, consent, exemption, authorization or other action by, or notice to or
filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, any Loan Party of any Amendment Document to which it is a party, except for
those approvals, consents, exemptions, authorizations or other actions by, or notices to or filings with, any Governmental Authority or any other Person as have been obtained as of the Amendment No. 1 Effective Date; 

(c) Each Amendment Document to which any Loan Party is a party has been duly executed and delivered by such Loan Party. Each Amendment
Document to which any Loan Party is a party constitutes a legal, valid and binding obligation of such Loan Party, enforceable against such Loan Party in accordance with its terms, except (i) as such enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and (ii) that rights of acceleration and the availability of equitable remedies may be limited by equitable
principles of general applicability (regardless of whether enforcement is sought by proceedings in equity or at law); and 
 (d)
both before and after giving effect to this Amendment No. 1, no Default or Event of Default has occurred and is continuing. 
 4. Conditions Precedent. This Amendment No. 1 shall become effective on the first date upon which each of the following conditions precedent has been satisfied: 

(a) Administrative Agent shall have received each of the following, in form and substance reasonably satisfactory to Administrative
Agent: 
 (i) This Amendment No. 1, duly executed and delivered by Borrowers, Canadian Guarantor, Required Revolving
Lenders and L/C Issuer; 
 (ii) (A) an amendment to the U.S. Security Agreement and (B) an amendment to the Canadian
Security Agreement, in each case duly executed and delivered by the parties thereto; and 
 (iii) (A) an amendment to the U.S.
Guaranty and (B) an amendment to the Canadian Guaranty, in each case duly executed and delivered by the parties thereto; 

(b) no Default or Event of Default shall have occurred and be continuing after giving effect to this Amendment No. 1. 

5. General. 
 (a) Effect of this Amendment. Except as expressly provided herein or in the other Amendment Documents, no other changes or modifications to the Loan Documents are intended or implied, and in all
other respects the Loan Documents are hereby specifically ratified, restated and confirmed by all parties hereto as of the date hereof. 
 (b) Governing Law. THIS AMENDMENT NO. 1 AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE
OF NEW YORK (INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). 

  
 13 

 (c) Binding Effect. This Amendment No. 1 shall bind and inure to the benefit of
the respective successors and permitted assigns of each of the parties hereto. 
 (d) Counterparts, etc. This Amendment
No. 1 may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single amendment. This Amendment No. 1
and the other Amendment Documents shall constitute the entire agreement among the parties relating to the subject matter hereof and thereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject
matter hereof and thereof. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Agreement. 

(e) Consent to Amendments. By signing below, the Required Revolving Lenders hereby consent to the Amendment Documents described in
Section 4 hereof. 

  
 14 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to be duly
executed and delivered by their authorized officers as of the day and year first above written. 
  

			
	MASONITE INTERNATIONAL
	CORPORATION
		
	By:	 	 /s/ Joanne Freiberger

		 	Name: Joanne Freiberger
		 	Title: Vice President and Treasurer
	
	MASONITE CORPORATION
		
	By:	 	 /s/ Joanne Freiberger

		 	Name: Joanne Freiberger
		 	Title: Vice President and Treasurer
	
	MASONITE PRIMEBOARD, INC.
		
	By:	 	 /s/ Joanne Freiberger

		 	Name: Joanne Freiberger
		 	Title: Vice President and Treasurer
	
	FLORIDA MADE DOOR CO.
		
	By:	 	 /s/ Joanne Freiberger

		 	Name: Joanne Freiberger
		 	Title: Vice President and Treasurer
	
	LES PORTES BAILLARGEON INC.
		
	By:	 	 /s/ Joanne Freiberger

		 	Name: Joanne Freiberger
		 	Title: Vice President and Treasurer

  
 Amendment No. 1
to Credit Agreement (Masonite) 

 
			
	WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Administrative Agent, L/C
Issuer and a U.S. Revolving Credit Lender
		
	By:	 	 /s/ Matt Mouledous

		 	Name: Matt Mouledous
		 	Title: Authorized Signatory
	
	WELLS FARGO CAPITAL FINANCE
CORPORATION CANADA, as a Canadian
Revolving Credit Lender
		
	By:	 	 /s/ Matt Mouledous

		 	Name: Matt Mouledous
		 	Title: Vice President

  
 Amendment No. 1
to Credit Agreement (Masonite) 

 
			
	 BANK OF AMERICA, N.A.,
 as a U.S. Revolving Credit Lender

		
	By:	 	 /s/ Steven L. Hipsman

		 	Name: Steven L. Hipsman
		 	Title: Senior Vice President
	
	BANK OF AMERICA, N.A. CANADIAN
BRANCH, as a Canadian Revolving Credit Lender
		
	By:	 	 /s/ Medina Sales de Andrade

		 	Name: Medina Sales de Andrade
		 	Title: Vice President

  
 Amendment No. 1
to Credit Agreement (Masonite)

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