Document:

Intercreditor Agreement dated as of March 29, 2004

 Exhibit 10.17 

  
 INTERCREDITOR AGREEMENT 
  
 dated as of March 29, 2004, 
  
 among 
  
 ATP OIL & GAS CORPORATION, 
  
 the Subsidiaries of ATP OIL & GAS CORPORATION identified herein, 
  
 CREDIT SUISSE FIRST BOSTON, 
  
 as First Lien Collateral Agent 
  
 and 
  
 CREDIT SUISSE FIRST BOSTON, 
  
 as Second Lien Collateral Agent 
  
 THIS IS THE INTERCREDITOR AGREEMENT REFERRED TO IN (A) THE 
 GUARANTEE AND COLLATERAL AGREEMENT OF EVEN DATE

 HEREWITH AMONG THE PARTIES HERETO AND (B) THE OTHER 
 SECURITY DOCUMENTS REFERRED TO IN THE CREDIT AGREEMENTS 
 REFERRED TO HEREIN 
  

 [CS&M Ref No. 5865-238]

 TABLE OF CONTENTS 
  

					
	 ARTICLE I
  

	 DEFINITIONS
  

	 SECTION 1.01.
	  	 Certain Defined Terms
	  	2
	 SECTION 1.02.
	  	 Other Defined Terms
	  	2
	 SECTION 1.03.
	  	 Terms Generally
	  	6
	  
 ARTICLE II
  

	 LIEN PRIORITIES
  

	 SECTION 2.01.
	  	 Relative Priorities
	  	7
	 SECTION 2.02.
	  	 Prohibition on Contesting Liens
	  	7
	 SECTION 2.03.
	  	 No New Liens
	  	7
	 SECTION 2.04.
	  	 Similar Liens and Agreements
	  	8
	  
 ARTICLE III
  

	 ENFORCEMENT
  

	 SECTION 3.01.
	  	 Exercise of Remedies
	  	8
	 SECTION 3.02.
	  	 Cooperation
	  	11
	  
 ARTICLE IV
  

	 PAYMENTS
  

	 SECTION 4.01.
	  	 Application of Proceeds
	  	11
	 SECTION 4.02.
	  	 Payments Over
	  	11
	  
 ARTICLE V
  

	 OTHER AGREEMENTS
  

	 SECTION 5.01.
	  	 Releases
	  	12
	 SECTION 5.02.
	  	 Insurance
	  	13
	 SECTION 5.03.
	  	 Amendments to First Lien Loan Documents and Second Lien Loan Documents
	  	13
	 SECTION 5.04.
	  	 Rights As Unsecured Creditors
	  	15
	 SECTION 5.05.
	  	 Bailee for Perfection
	  	15
	 SECTION 5.06.
	  	 When Discharge of First Lien Obligations Deemed Not to Have Occurred
	  	16

  

					
	ARTICLE VI
	
	 INSOLVENCY OR LIQUIDATION PROCEEDINGS
  

	 SECTION 6.01.
	  	 Finance and Sale Issues
	  	17
	 SECTION 6.02.
	  	 Relief from the Automatic Stay
	  	18
	 SECTION 6.03.
	  	 Adequate Protection
	  	18
	 SECTION 6.04.
	  	 No Waiver
	  	18
	 SECTION 6.05.
	  	 Avoidance Issues
	  	19
	 SECTION 6.06.
	  	 Reorganization Securities
	  	19
	 SECTION 6.07.
	  	 Post-Petition Interest
	  	19
	 SECTION 6.08.
	  	 Waiver
	  	19
	  
 ARTICLE VII
  

	 RELIANCE; WAIVERS; ETC.
  

	 SECTION 7.01.
	  	 Reliance
	  	20
	 SECTION 7.02.
	  	 No Warranties or Liability
	  	20
	 SECTION 7.03.
	  	 No Waiver of Lien Priorities
	  	21
	 SECTION 7.04.
	  	 Obligations Unconditional
	  	22
	  
 ARTICLE VIII
  

	 MISCELLANEOUS
  

	 SECTION 8.01.
	  	 Conflicts
	  	23
	 SECTION 8.02.
	  	 Effectiveness; Continuing Nature of this Agreement; Severability
	  	23
	 SECTION 8.03.
	  	 Amendments; Waivers
	  	24
	 SECTION 8.04.
	  	 Information Concerning Financial Condition of the Borrower and its Subsidiaries
	  	24
	 SECTION 8.05.
	  	 Subrogation
	  	24
	 SECTION 8.06.
	  	 Application of Payments
	  	25
	 SECTION 8.07.
	  	 SUBMISSION TO JURISDICTION; WAIVERS
	  	25
	 SECTION 8.08.
	  	 Waiver of Jury Trial
	  	26
	 SECTION 8.09.
	  	 Notices
	  	26
	 SECTION 8.10.
	  	 Further Assurances
	  	26
	 SECTION 8.11.
	  	 APPLICABLE LAW
	  	27
	 SECTION 8.12.
	  	 Binding on Successors and Assigns
	  	27
	 SECTION 8.13.
	  	 Specific Performance
	  	27
	 SECTION 8.14.
	  	 Headings
	  	27
	 SECTION 8.15.
	  	 Counterparts
	  	27
	 SECTION 8.16.
	  	 Authorization
	  	27
	 SECTION 8.17.
	  	 No Third Party Beneficiaries
	  	27
	 SECTION 8.18.
	  	 Provisions Solely to Define Relative Rights
	  	28

  

 ii 

 INTERCREDITOR AGREEMENT dated as of March 29, 2004, among ATP OIL & GAS CORPORATION, a Texas
corporation (the “Borrower”), the subsidiaries of the Borrower identified herein, CREDIT SUISSE FIRST BOSTON (“CSFB”), as collateral agent for the First Lien Lenders (as defined below) (in such
capacity, the “First Lien Collateral Agent”), and CSFB, as collateral agent for the Second Lien Lenders (as defined below) (in such capacity, the “Second Lien Collateral Agent”). 
  
 PRELIMINARY STATEMENT 
  
 Reference is made to (a) the First Lien Credit Agreement dated as of March
29, 2004 (as amended, restated, supplemented, otherwise modified or Refinanced from time to time, the “First Lien Credit Agreement”), among the Borrower, the lenders from time to time party thereto (the “First Lien
Lenders”) and CSFB, as administrative agent (in such capacity, the “First Lien Administrative Agent”) and First Lien Collateral Agent, (b) the Second Lien Credit Agreement dated as of March 29, 2004 (as amended,
restated, supplemented or otherwise modified from time to time, the “Second Lien Credit Agreement” and, together with the First Lien Credit Agreement, the “Credit Agreements”), among the Borrower, the
lenders from time to time party thereto (the “Second Lien Lenders”) and CSFB, as administrative agent (in such capacity, the “Second Lien Administrative Agent”) and Second Lien Collateral Agent, (c)
the Guarantee and Collateral Agreement dated as of March 29, 2004 (the “Guarantee and Collateral Agreement”), among the Borrower, the subsidiaries of the Borrower identified therein as Guarantors (the
“Guarantors”), the subsidiaries of the Borrower identified therein as Subsidiary Grantors (together with the Borrower, the “Grantors”) and CSFB, as First Lien Collateral Agent and Second Lien
Collateral Agent, and (d) the other Security Documents referred to in the Credit Agreements. 
  
 RECITALS 
  
 A. The First
Lien Lenders have agreed to make loans to the Borrower pursuant to the First Lien Credit Agreement, upon, among other terms and conditions, the condition that the First Lien Obligations (such term and each other capitalized term used but not defined
in these recitals having the meaning given it in Article I) shall be secured by first priority Liens on, and security interests in, substantially all the assets of the Grantors. 
  
 B. The Second Lien Lenders have agreed to make loans to the Borrower pursuant to the Second Lien Credit Agreement, upon,
among other terms and conditions, the condition that the Second Lien Obligations shall be secured by second priority Liens on, and security interests in, substantially all the assets of the Grantors. 
  
 C. The Credit Agreements provide, among other things, that the parties
thereto shall set forth in this Agreement their respective rights and remedies with respect to the collateral securing the First Lien Obligations and the Second Lien Obligations. 
  

 D. In order to induce the First Lien Secured Parties to consent to the Grantors incurring the Second Lien
Obligations and to induce the First Lien Lenders to make loans to the Borrower under the First Lien Credit Agreement, the Second Lien Collateral Agent on behalf of itself and the other Second Lien Secured Parties has agreed to the lien
subordination, intercreditor and other provisions set forth in this Agreement. 
  
 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 
  
 Definitions 
  
 SECTION 1.01. Certain Defined Terms. Capitalized terms used in this
Agreement and not otherwise defined herein have the meanings set forth in the First Lien Credit Agreement, the Second Lien Credit Agreement or the Guarantee and Collateral Agreement, as applicable. 
  
 SECTION 1.02. Other Defined Terms. As used in the Agreement, the
following terms shall have the following meanings: 
  
 “Agreement” shall mean this Intercreditor Agreement, as amended, restated, supplemented or otherwise modified from time to time in accordance with its terms. 
  
 “Bankruptcy Code” shall mean Title 11 of the United
States Code entitled “Bankruptcy,” as now and hereafter in effect, or any successor statute. 
  
 “Bankruptcy Law” shall mean the Bankruptcy Code and any similar federal, state or foreign insolvency law or other law for the
relief of debtors. 
  
 “Borrower” shall
have the meaning assigned to such term in the preamble to this Agreement. 
  
 “Collateral” shall mean all of the assets and property of any Grantor, whether real, personal or mixed, constituting both First Lien Collateral and Second Lien Collateral. 
  
 “Collateral Documents” shall mean the collective
reference to the First Lien Collateral Documents and the Second Lien Collateral Documents. 
  
 “Comparable Second Lien Collateral Document” shall mean, in relation to any Collateral subject to any Lien created under any First Lien Collateral Document (which instrument does not also
create and evidence the Second Lien Collateral as contemplated by Section 2.04(b)), the Second Lien Collateral Document that creates a Lien on the same Collateral, granted by the same Grantor. 
  

 2 

 “Credit Agreements” shall have the meaning assigned to such term in the
preliminary statement of this Agreement. 
  
 “CSFB” shall have the meaning assigned to such term in the preamble to this Agreement. 
  
 “DIP Financing” shall have the meaning assigned to such term in Section 6.01. 
  
 “Discharge of First Lien Obligations” shall mean,
except to the extent otherwise provided in Section 5.06 and Section 6.05, (a) 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 such interest would be allowed in such Insolvency or Liquidation Proceeding) and premium, if any, on all Indebtedness outstanding under the First Lien Loan Documents and the termination or expiration of all commitments to lend under the First
Lien Credit Agreement and (b) payment in full of all other First Lien Obligations that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid. 
  
 “Disposition” shall have the meaning assigned to such
term in Section 5.01(a)(ii). 
  
 “First Lien
Administrative Agent” shall have the meaning assigned to such term in the preliminary statement of this Agreement. 
  
 “First Lien Collateral Agent” shall have the meaning assigned to such term in the preamble to this Agreement. 
  
 “First Lien Collateral” shall mean all of the assets
of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any First Lien Obligations. 
  
 “First Lien Collateral Documents” shall mean the “Security Documents” as defined in the First Lien Credit Agreement, and
any other agreement, document or instrument pursuant to which a Lien is granted securing any First Lien Obligations or under which rights or remedies with respect to such Liens are governed. 
  
 “First Lien Credit Agreement” shall have the meaning
assigned to such term in the preliminary statement of this Agreement. 
  
 “First Lien Loan Documents” shall mean the “Loan Documents” as defined in the First Lien Credit Agreement. 
  
 “First Lien Lenders” shall have the meaning assigned to such term in the preliminary statement of this Agreement. 
  
 “First Lien Mortgages” shall mean the collective
reference to each mortgage, deed of trust, assignment of leases and rents, assignments of production, 

  

 3 

 
modifications thereto and any other document or instrument under which any Lien on real property owned by any Grantor is granted to secure any First Lien
Obligations or under which rights or remedies with respect to any such Liens are governed. 
  
 “First Lien Obligations” shall have the meaning assigned to such term in the Guarantee and Collateral Agreement. 
  
 “First Lien Secured Parties” shall mean, at any relevant time, (a) the First Lien Lenders, (b) the
First Lien Administrative Agent, (c) the First Lien Collateral Agent, (d) each counterparty to any Hedging Agreement with a Loan Party that either (i) is in effect on the Closing Date if such counterparty is a First Lien Lender or an Affiliate of a
First Lien Lender as of the Closing Date or (ii) is entered into after the Closing Date if such counterparty is a First Lien Lender or an Affiliate of a First Lien Lender at the time such Hedging Agreement is entered into, (e) the beneficiaries of
each indemnification obligation undertaken by any Loan Party under any First Lien Loan Document and (f) the successors and assigns of each of the foregoing. 
  
 “Grantors” shall have the meaning assigned to such term in the preliminary statement of this Agreement and shall include each
subsidiary of the Borrower that may from time to time hereafter execute and deliver a Collateral Document. 
  
 “Guarantee and Collateral Agreement” shall have the meaning assigned to such term in the preliminary statement of this Agreement.

  
 “Guarantors” shall have the meaning
assigned to such term in the preliminary statement of this Agreement and shall include each subsidiary of the Borrower that may from time to time hereafter guarantee the First Lien Obligations and the Second Lien Obligations by executing and
delivering a supplement to the Guarantee and Collateral Agreement in accordance with the terms thereof as required thereunder and under the Credit Agreements. 
  

“Indebtedness” shall mean and includes all obligations that constitute “Indebtedness” within the meaning of the First
Lien Credit Agreement or the Second Lien Credit Agreement, as applicable. 
  
 “Insolvency or Liquidation Proceeding” shall mean (a) any voluntary or involuntary case or proceeding under the Bankruptcy Code or any other Bankruptcy Law with respect to any Grantor, (b) any
other voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding with respect to any Grantor or with respect to a material portion of its
assets, (c) any liquidation, dissolution, reorganization or winding up of any Grantor, whether voluntary or involuntary, and whether or not involving insolvency or bankruptcy or (d) any assignment for the benefit of creditors or any other
marshalling of assets and liabilities of any Grantor. 
  
 “Lien” shall mean, with respect to any asset, (a) any mortgage, deed of trust, assignment of leases and rents, assignments of production, lien, pledge, 

  

 4 

 
encumbrance, charge or security interest in or on such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or
title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with
respect to such securities. 
  
 “Loan
Documents” shall mean the collective reference to the First Lien Loan Documents and the Second Lien Loan Documents. 
  
 “Maximum Priority Lien Amount” shall have the meaning assigned to such term in Section 5.03(a). 
  
 “New Agent” shall have the meaning assigned to such
term in Section 5.06. 
  
 “Pledged
Collateral” shall have the meaning assigned to such term in Section 5.05(a). 
  
 “Recovery” shall have the meaning assigned to such term in Section 6.05. 
  
 “Refinance” shall mean, in respect of any Indebtedness, to refinance, extend, renew, defease, restructure, replace, refund or
repay, or to issue other Indebtedness in exchange or replacement for, such Indebtedness, in whole or in part. “Refinanced” and “Refinancing” shall have correlative meanings. 
  
 “Second Lien Administrative Agent” shall have the
meaning assigned to such term in the preliminary statement of this Agreement. 
  
 “Second Lien Collateral” shall mean all of the assets of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted as security for any Second Lien
Obligations. 
  
 “Second Lien Collateral
Agent” shall have the meaning assigned to such term in the preamble to this Agreement. 
  
 “Second Lien Collateral Documents” shall mean the “Security Documents” as defined in the Second Lien Credit Agreement,
and any other agreement, document or instrument pursuant to which a Lien is granted securing any Second Lien Obligations or under which rights or remedies with respect to such Liens are governed. 
  
 “Second Lien Credit Agreement” shall have the meaning
assigned to such term in the preliminary statement of this Agreement. 
  
 “Second Lien Loan Documents” shall mean the “Loan Documents” as defined in the Second Lien Credit Agreement. 
  
 “Second Lien Lenders” shall have the meaning assigned to such term in the preliminary statement of this Agreement. 
  

 5 

 “Second Lien Mortgages” shall mean the collective reference to each mortgage,
deed of trust, assignment of leases and rents, assignments of production, modifications thereto and any other document or instrument under which any Lien on real property owned by any Grantor is granted to secure any Second Lien Obligations or under
which rights or remedies with respect to any such Liens are governed. 
  
 “Second Lien Obligations” shall have the meaning assigned to such term in the Guarantee and Collateral Agreement. To the extent any payment with respect to the Second Lien Obligations (whether by or on behalf of any
Guarantor or Grantor, as proceeds of security, enforcement of any right of setoff or otherwise) is avoided, set aside or required to be paid to a debtor in possession, trustee, receiver or similar person, then the obligation or part thereof
originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not occurred. 
  
 “Second Lien Permitted Actions” shall have the meaning assigned to such term in Section 3.01(a)(ii). 
  
 “Second Lien Secured Parties” shall mean, at any
relevant time, (a) the Second Lien Lenders, (b) the Second Lien Administrative Agent, (c) the Second Lien Collateral Agent, (d) each counterparty to any Hedging Agreement with a Loan Party that either (i) is in effect on the Closing Date if such
counterparty is a Second Lien Lender or an Affiliate of a Second Lien Lender as of the Closing Date or (ii) is entered into after the Closing Date if such counterparty is a Second Lien Lender or an Affiliate of a Second Lien Lender at the time such
Hedging Agreement is entered into, (e) the beneficiaries of each indemnification obligation undertaken by any Loan Party under any Second Lien Loan Document and (f) the successors and assigns of each of the foregoing. 
  
 “Standstill Period” shall have the meaning assigned
to such term in Section 3.01. 
  
 “Uniform Commercial
Code” or “UCC” shall mean the Uniform Commercial Code (or any similar or equivalent legislation) as in effect in any applicable jurisdiction. 
  
 SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms
of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed to be followed by
the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise (a) any definition of or reference to any agreement,
instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, supplemented or otherwise modified, (b) any reference herein to any person shall be construed
to include such person’s successors and assigns, (c) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any
particular provision hereof, (d) all references herein to Articles or Sections shall be 

  

 6 

 
construed to refer to Articles or Sections of this Agreement and (e) the words “asset” and “property” shall be construed to have the same
meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 
  
 ARTICLE II 
  
 Lien Priorities 
  
 SECTION 2.01. Relative Priorities. Notwithstanding the date, manner or order of grant, attachment or perfection of any Liens securing the Second Lien Obligations granted on the Collateral, or of any Liens
securing the First Lien Obligations granted on the Collateral and notwithstanding any provision of the UCC or any other applicable law or the provisions of any Loan Document (other than this Agreement) or any Collateral Document or any other
circumstance whatsoever, the Second Lien Collateral Agent, on behalf of itself and the other Second Lien Secured Parties, hereby agrees that: (a) any Lien on the Collateral securing any First Lien Obligations now or hereafter held by or on behalf of
the First Lien Collateral Agent or any other First Lien Secured Party or any agent or trustee therefor, regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be senior in all respects
and prior to any Lien on the Collateral securing any Second Lien Obligations; and (b) any Lien on the Collateral now or hereafter held by or on behalf of the Second Lien Collateral Agent, any other Second Lien Secured Party or any agent or trustee
therefor, regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be junior and subordinate in all respects to all Liens on the Collateral securing any First Lien Obligations. All Liens on
the Collateral securing any First Lien Obligations shall be and remain senior in all respects and prior to all Liens on the Collateral securing any Second Lien Obligations for all purposes, whether or not such Liens securing any First Lien
Obligations are subordinated to any Lien securing any other obligation of the Borrower, any other Grantor or any other person. 
  
 SECTION 2.02. Prohibition on Contesting Liens. Each of the Second Lien Collateral Agent, for itself and on behalf of each other Second Lien Secured
Party, and the First Lien Collateral Agent, for itself and on behalf of each other First Lien Secured Party, agrees that it shall not (and hereby waives any right to) contest or support any other person in contesting, in any proceeding (including
any Insolvency or Liquidation Proceeding), the priority, validity or enforceability of any Lien held by or on behalf of any of the First Lien Secured Parties in the First Lien Collateral or by or on behalf of any of the Second Lien Secured Parties
in the Second Lien Collateral, as the case may be; provided that nothing in this Agreement shall be construed to prevent or impair the rights of the First Lien Collateral Agent or any other First Lien Secured Party to enforce this Agreement,
including the priority of the Liens securing the First Lien Obligations as provided in Sections 2.01 and 3.01. 
  
 SECTION 2.03. No New Liens. So long as the Discharge of First Lien Obligations has not occurred, the parties hereto agree that the Borrower shall
not, and 

  

 7 

 
shall not permit any other Grantor to, (i) grant or permit any additional Liens on any asset or property to secure any Second Lien Obligation unless it has
granted a Lien on such asset or property to secure the First Lien Obligations, or (ii) grant or permit any additional Liens on any asset or property to secure any First Lien Obligations unless it has granted a Lien on such asset or property to
secure the Second Lien Obligations, with each such Lien to be subject to the provisions of this Agreement. To the extent that the foregoing provisions are not complied with for any reason, without limiting any other rights and remedies available to
the First Lien Collateral Agent or the other First Lien Secured Parties, the Second Lien Collateral Agent, on behalf of itself and the other Second Lien Secured Parties, agrees that any amounts received by or distributed to any of them pursuant to
or as a result of any Lien granted in contravention of this Section 2.03 shall be subject to Section 4.02. 
  
 SECTION 2.04. Similar Liens and Agreements. The parties hereto agree that it is their intention that the First Lien Collateral and the Second Lien
Collateral be identical. In furtherance of the foregoing, the parties hereto agree, subject to the other provisions of this Agreement: 
  
 (a) upon request by the First Lien Collateral Agent or the Second Lien Collateral Agent, to cooperate in good faith (and to direct their counsel to
cooperate in good faith) from time to time in order to determine the specific items included in the First Lien Collateral and the Second Lien Collateral and the steps taken to perfect their respective Liens thereon and the identity of the respective
parties obligated under the First Lien Loan Documents and the Second Lien Loan Documents; and 
  
 (b) that the documents and agreements creating or evidencing the First Lien Collateral and the Second Lien Collateral and guarantees for the First Lien Obligations and the Second Lien Obligations shall, to the extent
practicable and permissible under applicable law, be one and the same instruments and, to the extent not practicable or permissible under applicable law, be in all material respects the same forms of documents other than with respect to the first
priority and second priority nature of the Liens created thereunder. 
  
 ARTICLE III 
  
 Enforcement 
  
 SECTION 3.01. Exercise of Remedies. (a) So long as the Discharge of
First Lien Obligations has not occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against the Borrower or any other Grantor: 
  
 (i) the Second Lien Collateral Agent and other the Second Lien Secured Parties (A) will not exercise or seek
to exercise any rights or remedies (including any right of setoff) with respect to any Collateral, or institute or seek to institute any action or proceeding with respect to such rights or remedies (including any action of foreclosure);
provided, however, that the Second Lien Collateral Agent may exercise any or all such rights after a period of 180 days has elapsed since the 

  

 8 

 
date on which the Second Lien Collateral Agent has delivered to the First Lien Collateral Agent written notice of the occurrence of an Event of Default under
any Second Lien Loan Document (the “Standstill Period”); provided further, however, that notwithstanding the expiration of the Standstill Period or anything herein to the contrary, in no event shall the Second
Lien Collateral Agent or any other Second Lien Secured Party exercise any rights or remedies with respect to Collateral if the First Lien Collateral Agent or any other First Lien Secured Party shall have commenced the exercise of any of their rights
or remedies with respect to such Collateral (prompt notice of such exercise to be given to the Second Lien Collateral Agent), (B) will not contest, protest or object to any foreclosure proceeding or action brought by the First Lien Collateral Agent
or any other First Lien Secured Party or any other exercise by the First Lien Collateral Agent or any other First Lien Secured Party, of any rights and remedies relating to the Collateral under the First Lien Loan Documents or otherwise, and (C)
subject to its rights under clause (A) above, will not object to the forbearance by the First Lien Collateral Agent or the other First Lien Secured Parties from bringing or pursuing any foreclosure proceeding or action or any other exercise of any
rights or remedies relating to the Collateral, in each case so long as the respective interests of the Second Lien Secured Parties shall continue to attach to the proceeds thereof subject to the relative Lien priorities set forth in Article II; and

  
 (ii) the First Lien Collateral Agent and the
other First Lien Secured Parties shall have the exclusive right to enforce rights, exercise remedies (including rights of setoff) and make determinations regarding the release, disposition, or restrictions with respect to the Collateral without any
consultation with or the consent of the Second Lien Collateral Agent or any other Second Lien Secured Party; provided, that (A) in any Insolvency or Liquidation Proceeding commenced by or against the Borrower or any other Grantor, the
Second Lien Collateral Agent may file a claim or statement of interest with respect to the Second Lien Obligations, (B) the Second Lien Collateral Agent may take any action (not adverse to the prior Liens on the Collateral securing the First Lien
Obligations, or the rights of the First Lien Collateral Agent or any other First Lien Secured Party to exercise remedies in respect thereof and not otherwise inconsistent with the term of this Agreement) in order to preserve or protect its second
priority Liens on the Collateral, (C) the Second Lien Secured Parties shall be entitled to file any necessary responsive or defensive pleadings in opposition to any motion, claim, adversary proceeding or other pleading made by any person objecting
to or otherwise seeking the disallowance of the claims of the Second Lien Secured Parties, including any claims secured by the Collateral, if any, in each case in accordance with the terms of this Agreement, (D) the Second Lien Secured Parties shall
be entitled to file any pleadings, objections, motions or agreements that assert rights or interests available to unsecured creditors of the Grantors arising under the Bankruptcy Code, any other Bankruptcy Law or applicable non-bankruptcy law, in
each case in accordance with the terms of this Agreement, (E) the Second Lien Secured Parties shall be entitled to file any proof of claim and other filings and make any arguments and motions that are, in each case, in accordance with the terms of
this Agreement, with respect to the Second 

  

 9 

 
Lien Obligations and the Collateral and (F) the Second Lien Collateral Agent or any other Second Lien Secured Party may exercise any of its rights or
remedies with respect to the Collateral after the termination of the Standstill Period to the extent permitted by clause (i)(A) above (the actions described in this proviso being referred to herein as the “Second Lien Permitted
Actions”). In exercising rights and remedies with respect to the Collateral, the First Lien Collateral Agent and the other First Lien Secured Parties may enforce the provisions of the First Lien Loan Documents and exercise remedies
thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion. Such exercise and enforcement shall include the rights of an agent appointed by them to sell or otherwise dispose of Collateral upon
foreclosure, to incur expenses in connection with such sale or disposition, and to exercise all the rights and remedies of a secured creditor under the Uniform Commercial Code of any applicable jurisdiction and of a secured creditor under the
Bankruptcy Code or any other Bankruptcy Law. The First Lien Collateral Agent agrees to provide at least five day’s notice to the Second Lien Collateral Agent of its intent to exercise and enforce its rights or remedies with respect to the
Collateral. 
  
 (b) The Second Lien Collateral Agent, on behalf of
itself and the other Second Lien Secured Parties, agrees that it will not take or receive any Collateral or any proceeds of any Collateral in connection with the exercise of any right or remedy (including any right of setoff) with respect to any
Collateral, unless and until the Discharge of First Lien Obligations has occurred, except for Second Lien Permitted Actions. Without limiting the generality of the foregoing, unless and until the Discharge of First Lien Obligations has occurred,
except for Second Lien Permitted Actions, the sole right of the Second Lien Collateral Agent and the other Second Lien Secured Parties with respect to the Collateral is to hold a second priority Lien on the Collateral pursuant to the Second Lien
Collateral Documents for the period and to the extent granted therein and to receive a share of the proceeds thereof, if any, after the Discharge of First Lien Obligations has occurred in accordance with the terms of the this Agreement, the
Guarantee and Collateral Agreement and applicable law. 
  
 (c)
Except for Second Lien Permitted Actions, (i) the Second Lien Collateral Agent, for itself and on behalf of the other Second Lien Secured Parties, agrees that the Second Lien Collateral Agent and the other Second Lien Secured Parties will not take
any action that would, or could reasonably be expected to, hinder any exercise of remedies under the First Lien Loan Documents or is otherwise prohibited hereunder, including any sale, lease, exchange, transfer or other disposition of the
Collateral, whether by foreclosure or otherwise, and (ii) the Second Lien Collateral Agent, for itself and on behalf of the other Second Lien Secured Parties, hereby waives any and all rights it or the other Second Lien Secured Parties may have as a
junior lien creditor or otherwise to object to the manner in which the First Lien Collateral Agent or the other First Lien Secured Parties seek to enforce or collect the First Lien Obligations or the Liens granted in any of the First Lien
Collateral, regardless of whether any action or failure to act by or on behalf of the First Lien Collateral Agent or any other First Lien Secured Parties is or could be adverse to the interest of the Second Lien Secured Parties. 
  

 10 

 (d) The Second Lien Collateral Agent hereby acknowledges and agrees that no covenant, agreement or
restriction contained in the Second Lien Collateral Documents or any other Second Lien Loan Document shall be deemed to restrict in any way the rights and remedies of the First Lien Collateral Agent or the other First Lien Secured Parties with
respect to the Collateral as set forth in this Agreement and the First Lien Loan Documents. 
  
 SECTION 3.02. Cooperation. Subject to its rights after the expiration of the Standstill Period and except for Second Lien Permitted Actions, the Second Lien Collateral Agent, on behalf of itself and the other
Second Lien Secured Parties, agrees that, unless and until the Discharge of First Lien Obligations has occurred, it will not commence, or join with any person in commencing, any enforcement, collection, execution, levy or foreclosure action or
proceeding (including any Insolvency or Liquidation Proceeding) with respect to any Lien held by it under the Second Lien Collateral Documents or any other Second Lien Loan Document or otherwise. 
  
 ARTICLE IV 
  
 Payments 
  
 SECTION 4.01. Application of Proceeds. So long as the Discharge of First Lien Obligations has not occurred, any Collateral or proceeds thereof
received by the First Lien Collateral Agent in connection with the sale or other disposition of, or collection on, such Collateral upon the exercise of remedies, shall be applied by the First Lien Collateral Agent to the First Lien Obligations (and
all obligations that have priority in respect of the application of proceeds as set forth in Section 5.02 of the Guarantee and Collateral Agreement) in the order specified in such Section 5.02. Upon the Discharge of First Lien Obligations, the First
Lien Collateral Agent shall deliver to the Second Lien Collateral Agent any proceeds of Collateral held by it in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct to be applied by
the Second Lien Collateral Agent to the Second Lien Obligations in such order as specified in Section 5.02 of the Guarantee and Collateral Agreement or any relevant Second Lien Collateral Documents. 
  
 SECTION 4.02. Payments Over. So long as the Discharge of First Lien
Obligations has not occurred, any Collateral or proceeds thereof (together with assets or proceeds subject to Liens referred to in the final sentence of Section 2.03) received by the Second Lien Collateral Agent or any other Second Lien Secured
Party in connection with the exercise of any right or remedy (including any right of setoff) relating to the Collateral in contravention of this Agreement shall be segregated and held in trust and forthwith paid over to the First Lien Collateral
Agent for the benefit of the First Lien Secured Parties in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct. The First Lien Collateral Agent is hereby authorized to make any such
endorsements as agent for the Second Lien Collateral Agent or any such other Second Lien Secured Parties. This authorization is coupled with an interest and is irrevocable until such time as this Agreement is terminated in accordance with its terms.

  

 11 

 ARTICLE V 
  
 Other Agreements 
  
 SECTION 5.01. Releases. 
  
 (a) If, in connection with: 
  
 (i) the exercise of any of the First Lien Collateral Agent’s remedies in respect of the Collateral provided for in Section 3.01,
including any sale, lease, exchange, transfer or other disposition of any such Collateral; or 
  
 (ii) any other sale, lease, exchange, transfer or other disposition of any Collateral permitted under the terms of the First Lien Loan
Documents (as used in this clause (ii), a “Disposition”), 
  
 the First Lien Collateral Agent, for itself or on behalf of any of the other First Lien Secured Parties, releases any of its Liens on any part of the Collateral, or releases any Guarantor from its obligations under its guarantee of the
First Lien Obligations, in each case other than (A) in connection with the Discharge of First Lien Obligations or (B) after the occurrence and during the continuance of any Event of Default under the Second Lien Credit Agreement, then the Liens, if
any, of the Second Lien Collateral Agent, for itself or for the benefit of the other Second Lien Secured Parties, on such Collateral, and the obligations of such Guarantor under its guarantee of the Second Lien Obligations, shall be automatically,
unconditionally and simultaneously released and the Second Lien Collateral Agent, for itself or on behalf of any such other Second Lien Secured Parties, promptly shall execute and deliver to the First Lien Collateral Agent, the relevant Grantor or
such Guarantor such termination statements, releases and other documents as the First Lien Collateral Agent, the relevant Grantor or such Guarantor may request to effectively confirm such release; provided that notwithstanding the foregoing,
the Liens, if any, of the Second Lien Collateral Agent, for itself or for the benefit of the other Second Lien Secured Parties, on any Collateral in the case of a Disposition shall not be automatically released if such Disposition is not permitted
under the terms of the Second Lien Credit Agreement. 
  
 (b) Until
the Discharge of First Lien Obligations occurs, the Second Lien Collateral Agent, for itself and on behalf of the other Second Lien Secured Parties, hereby irrevocably constitutes and appoints the First Lien Collateral Agent and any officer or agent
of the First Lien Collateral Agent, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of the Second Lien Collateral Agent or such Second Lien Secured Party, or
in the First Lien Collateral Agent’s own name, from time to time in the First Lien Collateral Agent’s discretion, for the purpose of carrying out the terms of this Section 5.01, to take any and all appropriate action and to execute any and
all documents and instruments which may be necessary to accomplish the purposes of this Section 5.01, including any endorsements or other instruments of transfer or release. 
  

 12 

 (c) Until the Discharge of First Lien Obligations occurs, to the extent that the First Lien Secured
Parties (i) have released any Lien on Collateral or any Guarantor from its obligation under its guarantee of the First Lien Obligations and any such Liens are or guarantee is later reinstated or (ii) obtain any new first priority Liens on any
Collateral or guarantees from Guarantors, then the Second Lien Secured Parties shall be granted a second priority Lien on any such Collateral and an additional guarantee of the Second Lien Obligations from any such Guarantor, as the case may be.

  
 SECTION 5.02. Insurance. Unless and until the Discharge
of First Lien Obligations has occurred, the First Lien Collateral Agent and the other First Lien Secured Parties shall have the sole and exclusive right, subject to the rights of the Grantors under the First Lien Loan Documents, to adjust settlement
for any insurance policy covering the Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting the Collateral. Unless and until the
Discharge of First Lien Obligations has occurred, and subject to the rights of the Grantors under the First Lien Collateral Documents, all proceeds of any such policy and any such award (or any payments with respect to a deed in lieu of
condemnation) if in respect to the Collateral shall be paid to the First Lien Collateral Agent for the benefit of the First Lien Secured Parties pursuant to the terms of the First Lien Loan Documents and thereafter, to the extent no First Lien
Obligations are outstanding, and subject to the rights of the Grantors under the Second Lien Collateral Documents, to the Second Lien Collateral Agent for the benefit of the itself and the other Second Lien Secured Parties to the extent required
under the Second Lien Collateral Documents and then, to the extent no Second Lien Obligations are outstanding, to the owner of the subject property, such other person as may be entitled thereto or as a court of competent jurisdiction may otherwise
direct. Until the Discharge of First Lien Obligations has occurred, if the Second Lien Collateral Agent or any other Second Lien Secured Party shall, at any time, receive any proceeds of any such insurance policy or any such award or payment in
contravention of this Agreement, it shall pay such proceeds over to the First Lien Collateral Agent in accordance with the terms of Section 4.02. 
  
 SECTION 5.03. Amendments to First Lien Loan Documents and Second Lien Loan Documents. 
  
 (a) The First Lien Loan Documents may be amended, supplemented or otherwise modified in accordance with their terms and the
First Lien Credit Agreement may be Refinanced, in each case, without the consent of the Second Lien Collateral Agent or the Second Lien Lenders; provided, however, that (A) any such amendment, supplement, modification or Refinancing
shall not (i) increase the outstanding aggregate principal amount of Indebtedness under the new First Lien Loan Documents to an amount in excess of $150,000,000 the “Maximum Priority Lien Amount”) or (ii) increase the
“Applicable Margin” or similar component of the interest rate thereunder, in a manner which would increase the total yield thereon by more than 4.0% per annum (excluding increases resulting from the accrual of interest at the default
rate), and (B) the holders of such Refinancing debt (or an agent on their behalf) bind themselves in writing to the terms of this Agreement. 
  

 13 

 (b) Without the prior written consent of the First Lien Collateral Agent, no Second Lien Loan Document
may be amended, supplemented or otherwise modified or entered into to the extent such amendment, supplement or modification, or the terms of any new Second Lien Loan Document, would (i) contravene the provisions of this Agreement; (ii) increase the
“Applicable Margin” or similar component of the interest rate thereunder, in a manner which would increase the total yield thereon by more than 1.0% per annum (excluding increases resulting from the accrual of interest at the default
rate); (iii) change (to earlier dates) any dates upon which payments of principal or interest are due thereon; (iv) change any default or Event of Default thereunder in a manner adverse to the loan parties thereunder; (v) change the redemption,
prepayment or repayment provisions thereof in a manner adverse to the loan parties thereunder; (vi) change any collateral therefor (other than to release such collateral), or (vii) increase the obligations of the loan parties thereunder or confer
any additional rights on the Second Lien Lenders which would be adverse to the loan parties or the lenders under the First Lien Credit Agreement or the other First Lien Obligations. As an intercreditor agreement only and without prejudice to any
rights of the First Lien Lenders under the First Lien Credit Agreement, the Second Lien Credit Agreement may be Refinanced to the extent the terms and conditions of the Refinancing debt are no less favorable in the aggregate to the loan parties and
to the lenders under the First Lien Facility or the other First Lien Obligations than the Second Lien Loan Documents, the average life to maturity thereof is greater than or equal to that of the Second Lien Credit Agreement and all other terms and
provisions of such Refinancing debt are reasonably acceptable to the First Lien Collateral Agent and the holders of such Refinancing debt (or an agent on their behalf) bind themselves in writing to the terms of this Agreement. 
  
 (c) The Borrower agrees that each Second Lien Collateral Document shall
include the following language (or language to similar effect approved by the First Lien Collateral Agent): 
  
 “Notwithstanding anything herein to the contrary, the lien and security interest granted to the Second Lien Collateral Agent pursuant to this
Agreement and the exercise of any right or remedy by the Second Lien Collateral Agent and the other Second Lien Secured Parties hereunder are subject to the provisions of the Intercreditor Agreement dated as of March 29, 2004 (as amended, restated,
supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), among the Borrower, the subsidiaries of the Borrower from time to time party thereto, Credit Suisse First Boston (“CSFB”), as
First Lien Collateral Agent, and CSFB, as Second Lien Collateral Agent. In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control.”

  
 In addition, the Borrower agrees that each Second Lien Mortgage covering any
Collateral shall contain such other language as the First Lien Collateral Agent may reasonably request to reflect the subordination of such Second Lien Mortgage to the First Lien Collateral Document covering such Collateral. 
  

 14 

 (d) In the event the First Lien Collateral Agent or the other First Lien Secured Parties and the relevant
Grantor enter into any amendment, waiver or consent in respect of any of the First Lien Collateral Documents for the purpose of adding to, or deleting from, or waiving or consenting to any departures from any provisions of, any First Lien Collateral
Document or changing in any manner the rights of the First Lien Collateral Agent, such First Lien Secured Parties, the Borrower or any other Grantor thereunder, then such amendment, waiver or consent shall apply automatically to the comparable
provisions set forth therein that relate to the Second Lien Collateral Agent or the other Second Lien Secured Parties (or, if applicable, to any comparable provision of the applicable Comparable Second Lien Collateral Document), in each case without
the consent of the Second Lien Collateral Agent or the other Second Lien Secured Parties and without any action by the Second Lien Collateral Agent, the Borrower or any other Grantor, provided, that (A) no such amendment, waiver or consent
shall have the effect of (i) removing assets subject to a Lien created under the Second Lien Collateral Documents, except to the extent that a release of such Lien is permitted or required by Section 5.01 and provided that there is a corresponding
release of such Lien securing the First Lien Obligations, (ii) altering the duties, obligations or indemnification or exculpation of the Second Lien Collateral Agent without its consent or (iii) permitting other Liens on the Collateral not permitted
under the terms of the Second Lien Loan Documents or Article VI and (B) notice of such amendment, waiver or consent shall have been given to the Second Lien Collateral Agent within 10 Business Days after the effective date of such amendment, waiver
or consent. 
  
 SECTION 5.04. Rights As Unsecured
Creditors. The Second Lien Collateral Agent and the other Second Lien Secured Parties may exercise rights and remedies as unsecured creditors against the Borrower or any Guarantor that has guaranteed the Second Lien Obligations in accordance
with the terms of the Second Lien Loan Documents and applicable law. Nothing in this Agreement shall prohibit the receipt by the Second Lien Collateral Agent or any other Second Lien Secured Party of the required payments of interest and principal
under the Second Lien Loan Documents so long as such receipt is not the direct or indirect result of the exercise by the Second Lien Collateral Agent or any other Second Lien Secured Party of rights or remedies as a secured creditor (including any
right of setoff) or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement shall impair (or shall be construed as impairing) or otherwise adversely affect any rights or remedies the First Lien
Collateral Agent or the other First Lien Secured Parties may have with respect to the First Lien Collateral. 
  
 SECTION 5.05. Bailee for Perfection. 
  
 (a) As contemplated by Section 3.02(d) of the Guarantee and Collateral Agreement (and notwithstanding anything in any of the Collateral Documents to the
contrary), the First Lien Collateral Agent agrees to hold that part of the Collateral that is in its possession or control (or in the possession or control of its agents or bailees) to the extent that possession or control thereof is taken to
perfect a Lien thereon under the Uniform Commercial Code or other applicable law (such Collateral being the “Pledged Collateral”) as collateral agent for the First Lien Secured Parties and as gratuitous bailee 

  

 15 

 
for the Second Lien Collateral Agent and any assignee solely for the purpose of perfecting the security interest granted under the First Lien Loan Documents
and the Second Lien Loan Documents, respectively, subject to the terms and conditions of this Section 5.05. 
  
 (b) Subject to the terms of this Agreement, until the Discharge of First Lien Obligations has occurred, the First Lien Collateral Agent shall be entitled
to deal with the Pledged Collateral in accordance with the terms of the First Lien Loan Documents as if the Liens of the Second Lien Collateral Agent under the Second Lien Collateral Documents did not exist. The rights of the Second Lien Collateral
Agent shall at all times be subject to the terms of this Agreement and to the First Lien Collateral Agent’s rights under this Agreement and the First Lien Loan Documents. 
  
 (c) The First Lien Collateral Agent shall have no obligation whatsoever to the other First Lien Secured Parties or to the
Second Lien Collateral Agent or any other Second Lien Secured Party to ensure that the Pledged Collateral is genuine or owned by any of the Grantors. The duties or responsibilities of the First Lien Collateral Agent to the Second Lien Collateral
Agent and the other Second Lien Secured Parties under this Section 5.05 shall be limited solely to holding the Pledged Collateral as gratuitous bailee in accordance with this Section 5.05. 
  
 (d) The First Lien Collateral Agent acting pursuant to this Section 5.05
shall not have by reason of the First Lien Collateral Documents, the Second Lien Collateral Documents, this Agreement or any other document a fiduciary relationship in respect of the other First Lien Secured Parties, the Second Lien Collateral Agent
or any other Second Lien Secured Party. 
  
 (e) Upon the Discharge
of First Lien Obligations under the First Lien Loan Documents to which the First Lien Collateral Agent is a party, the First Lien Collateral Agent shall deliver the remaining Pledged Collateral (if any) together with any necessary endorsements,
first, to the Second Lien Collateral Agent to the extent Second Lien Obligations remain outstanding, and second, to the Borrower to the extent no First Lien Obligations or Second Lien Obligations remain outstanding (in each case, so as
to allow such person to obtain control of such Pledged Collateral). In connection with any transfer of the Pledged Collateral in accordance with the immediately preceding sentence (other than to the Borrower), the First Lien Collateral Agent further
agrees to take all other actions reasonably requested by the transferee of the Pledged Collateral to permit such transferee to obtain a first priority security interest in the Collateral or as a court of competent jurisdiction may otherwise direct.

  
 SECTION 5.06. When Discharge of First Lien Obligations
Deemed Not to Have Occurred. If at any time after the Discharge of First Lien Obligations has occurred the Borrower substantially contemporaneously therewith enters into any Refinancing of any First Lien Loan Document evidencing a First Lien
Obligation (which is designated as such by notice to the Second Lien Collateral Agent), then such Discharge of First Lien Obligations shall automatically be deemed not to have occurred for all purposes of this Agreement, and the obligations under
such Refinanced First Lien Loan 

  

 16 

 
Document shall automatically be treated as First Lien Obligations for all purposes of this Agreement, including for purposes of the Lien priorities and
rights in respect of Collateral set forth herein, and, if the First Lien Collateral Agent is not the collateral agent under such First Lien Loan Documents, such collateral agent shall be deemed to be the First Lien Collateral Agent for all purposes
of this Agreement. Upon receipt of a notice stating that the Borrower has entered into a new First Lien Loan Document (which notice shall, if applicable, include the identity of the new collateral agent thereunder; such agent, the “New
Agent”), the Second Lien Collateral Agent shall promptly (a) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Borrower or such New Agent shall reasonably request in order to provide
to the New Agent the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement and (b) deliver to the New Agent any Pledged Collateral then held by it together with any necessary endorsements (or
otherwise allow the New Agent to obtain control of such Pledged Collateral). The Borrower shall cause the instrument pursuant to which the New Agent is appointed to provide that the New Agent shall agree to be bound by the terms of this Agreement.
If the new First Lien Obligations under the new First Lien Loan Documents are secured by assets of the Grantors of the type constituting Collateral that do not also secure the Second Lien Obligations, then the Second Lien Obligations shall be
secured at such time by a second priority Lien on such assets to the same extent provided in the Second Lien Collateral Documents. 
  
 ARTICLE VI 
  
 Insolvency or Liquidation Proceedings 
  
 SECTION 6.01. Finance and Sale Issues. Until the Discharge of First Lien Obligations has occurred, if the Borrower or any other Grantor shall be
subject to any Insolvency or Liquidation Proceeding and the First Lien Collateral Agent shall desire to permit the use of cash collateral on which the First Lien Collateral Agent or any other creditor has a Lien or to permit the Borrower or any
other Grantor to obtain financing, whether from the First Lien Secured Parties or any other person under Section 363 or Section 364 of the Bankruptcy Code or any comparable provision of any other Bankruptcy Law (each, a “DIP
Financing”), then the Second Lien Collateral Agent, on behalf of itself and the other Second Lien Secured Parties, agrees that it will raise no objection to such use of cash collateral or DIP Financing and will not request adequate
protection or any other relief in connection therewith (except as expressly agreed by the First Lien Collateral Agent or to the extent permitted by Section 6.03) and, to the extent the Liens securing the First Lien Obligations are subordinated to or
pari passu with the Liens securing such DIP Financing, the Second Lien Collateral Agent will subordinate its Liens in the Collateral to the Liens securing such DIP Financing (and all obligations relating thereto). The Second Lien Collateral
Agent on behalf of itself and the other Second Lien Secured Parties, agrees that it will raise no objection or oppose a sale or other disposition of any Collateral free and clear of its Liens or other claims under Section 363 of the Bankruptcy Code
(or any comparable provision of any other Bankruptcy Law) if the First Lien Secured Parties have consented to such sale or disposition of such assets. 
  

 17 

 SECTION 6.02. Relief from the Automatic Stay. Until the Discharge of First Lien Obligations has
occurred, the Second Lien Collateral Agent, on behalf of itself and the other Second Lien Secured Parties, agrees that none of them shall seek relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of
the Collateral, without the prior written consent of the First Lien Collateral Agent. 
  
 SECTION 6.03. Adequate Protection. The Second Lien Collateral Agent, on behalf of itself and the other Second Lien Secured Parties, agrees that none of them shall contest (or support any other person
contesting) (a) any request by the First Lien Collateral Agent or the other First Lien Secured Parties for adequate protection or (b) any objection by the First Lien Collateral Agent or the other First Lien Secured Parties to any motion, relief,
action or proceeding based on the First Lien Collateral Agent or the other First Lien Secured Parties claiming a lack of adequate protection. Notwithstanding the foregoing provisions in this Section 6.03, in any Insolvency or Liquidation Proceeding,
(i) if the First Lien Secured Parties (or any subset thereof) are granted adequate protection in the form of additional collateral in connection with any DIP Financing, then the Second Lien Collateral Agent, on behalf of itself or any of the other
Second Lien Secured Parties, may seek or request adequate protection in the form of a Lien on such additional collateral, which Lien will be subordinated to the Liens securing the First Lien Obligations and such DIP Financing (and all obligations
relating thereto) on the same basis as the other Liens securing the Second Lien Obligations are so subordinated to the First Lien Obligations under this Agreement, and (ii) in the event the Second Lien Collateral Agent, on behalf of itself and the
other Second Lien Secured Parties, seeks or requests adequate protection in respect of Second Lien Obligations and such adequate protection is granted in the form of additional collateral, then the Second Lien Collateral Agent, on behalf of itself
or any of the other Second Lien Secured Parties, agrees that the First Lien Collateral Agent shall also be granted a senior Lien on such additional collateral as security for the First Lien Obligations and for any such DIP Financing provided by the
First Lien Secured Parties and that any Lien on such additional collateral securing the Second Lien Obligations shall be subordinated to the Liens on such collateral securing the First Lien Obligations and any such DIP Financing provided by the
First Lien Secured Parties (and all obligations relating thereto) and to any other Liens granted to the First Lien Secured Parties as adequate protection on the same basis as the other Liens securing the Second Lien Obligations are so subordinated
to such First Lien Obligations under this Agreement. 
  
 SECTION
6.04. No Waiver. Except for Second Lien Permitted Actions, nothing contained herein shall prohibit or in any way limit the First Lien Collateral Agent or any First Lien Secured Party from objecting in any Insolvency or Liquidation Proceeding
or otherwise to any action taken by the Second Lien Collateral Agent or any of the other Second Lien Secured Parties, including the seeking by the Second Lien Collateral Agent or any other Second Lien Secured Party of adequate protection or the
asserting by the Second Lien Collateral Agent or any other Second Lien Secured Party of any of its rights and remedies under the Second Lien Loan Documents or otherwise. 
  

 18 

 SECTION 6.05. Avoidance Issues. If any First Lien Secured Party is required in any Insolvency or
Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of the Borrower or any other Grantor any amount (a “Recovery”), then such First Lien Secured Parties shall be entitled to a reinstatement of
First Lien Obligations with respect to all such recovered amounts. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish,
release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement. 
  
 SECTION 6.06. Reorganization Securities. If, in any Insolvency or Liquidation Proceeding, debt obligations of the reorganized debtor secured by
Liens upon any property of the reorganized debtor are distributed, pursuant to a plan of reorganization or similar dispositive restructuring plan, both on account of First Lien Obligations and on account of Second Lien Obligations, then, to the
extent the debt obligations distributed on account of the First Lien Obligations and on account of the Second Lien Obligations are secured by Liens upon the same property, the provisions of this Agreement will survive the distribution of such debt
obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations. 
  
 SECTION 6.07. Post-Petition Interest. 
  
 (a) Neither the Second Lien Collateral Agent nor any other Second Lien Secured Party shall oppose or seek to challenge any claim by the First Lien
Collateral Agent or any First Lien Secured Party for allowance in any Insolvency or Liquidation Proceeding of First Lien Obligations consisting of post-petition interest, fees or expenses to the extent of the value of the Lien of the First Lien
Collateral Agent on behalf of itself and the other First Lien Secured Parties on the Collateral (it being understood and agreed that such value shall be determined without regard to the existence of the Lien of the Second Lien Collateral Agent on
behalf of itself and the other Second Lien Secured Parties on the Collateral). 
  
 (b) Neither the First Lien Collateral Agent nor any other First Lien Secured Party shall oppose or seek to challenge any claim by the Second Lien Collateral Agent or any other Second Lien Secured Party for allowance
in any Insolvency or Liquidation Proceeding of Second Lien Obligations consisting of post-petition interest, fees or expenses to the extent of the value of the Lien of the Second Lien Collateral Agent on behalf of itself and the other Second Lien
Secured Parties on the Collateral (it being understood and agreed that such value shall be determined taking into account the Lien of the First Lien Collateral Agent on behalf of itself and the other First Lien Secured Parties on the Collateral).

  
 SECTION 6.08. Waiver. The Second Lien Collateral Agent,
for itself and on behalf of the other Second Lien Secured Parties, waives any claim it may hereafter have against any First Lien Secured Party arising out of the election of any First Lien Secured Party of the application of Section 1111(b)(2) of
the Bankruptcy Code (or any comparable provision of any other Bankruptcy Law), and/or out of any cash collateral or 

  

 19 

 
financing arrangement or out of any grant of a security interest in connection with the Collateral in any Insolvency or Liquidation Proceeding. 

 
 ARTICLE VII 
  
 Reliance; Waivers; Etc. 
  
 SECTION 7.01. Reliance. Other than any reliance on the terms of this Agreement, the First Lien Collateral Agent, on behalf of itself and the other
First Lien Secured Parties, acknowledges that it and such First Lien Secured Parties have, independently and without reliance on the Second Lien Collateral Agent or any other Second Lien Secured Party, and based on documents and information deemed
by them appropriate, made their own credit analysis and decision to enter into such First Lien Loan Documents and be bound by the terms of this Agreement and they will continue to make their own credit decision in taking or not taking any action
under the First Lien Loan Documents or this Agreement. The Second Lien Collateral Agent, on behalf of itself and the other Second Lien Secured Parties, acknowledges that it and the Second Lien Secured Parties have, independently and without reliance
on the First Lien Collateral Agent or any other First Lien Secured Party, and based on documents and information deemed by them appropriate, made their own credit analysis and decision to enter into each of the Second Lien Loan Documents and be
bound by the terms of this Agreement and they will continue to make their own credit decision in taking or not taking any action under the Second Lien Loan Documents or this Agreement. 
  
 SECTION 7.02. No Warranties or Liability. The First Lien Collateral Agent, on behalf of itself and the other First
Lien Secured Parties, acknowledges and agrees that neither the Second Lien Collateral Agent nor any other Second Lien Secured Party has made any express or implied representation or warranty, including with respect to the execution, validity,
legality, completeness, collectibility or enforceability of any of the Second Lien Loan Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon. The Second Lien Secured Parties will be entitled to manage and
supervise their respective loans and extensions of credit under the Second Lien Loan Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate. The Second Lien Collateral Agent, on behalf of itself and
the Second Lien Obligations, acknowledges and agrees that neither the First Lien Collateral Agent nor any other First Lien Secured Party has made any express or implied representation or warranty, including with respect to the execution, validity,
legality, completeness, collectibility or enforceability of any of the First Lien Loan Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon. The First Lien Secured Parties will be entitled to manage and
supervise their respective loans and extensions of credit under their respective First Lien Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate. The Second Lien Collateral Agent and the other Second
Lien Secured Parties shall have no express or implied duty to the First Lien Collateral Agent or any of the other First Lien Secured Parties, and the First Lien Collateral Agent and the other First Lien Secured Parties shall have no express or
implied duty to the Second Lien Collateral Agent or any of the other Second Lien Secured Parties, to act or refrain from acting in a manner which allows, or 

  

 20 

 
results in, the occurrence or continuance of an event of default or default under any agreements with the Borrower, any other Grantor or any Guarantor
(including the First Lien Loan Documents and the Second Lien Loan Documents), regardless of any knowledge thereof which they may have or be charged with. 
  
 SECTION 7.03. No Waiver of Lien Priorities. 
  
 (a) No right of the First Lien Secured Parties, the First Lien Collateral Agent or any of them to enforce any provision of this Agreement or any First
Lien Loan Document shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Borrower or any other Grantor or by any act or failure to act by any First Lien Secured Party or the First Lien Collateral
Agent, or by any noncompliance by any person with the terms, provisions and covenants of this Agreement, any of the First Lien Loan Documents or any of the Second Lien Loan Documents, regardless of any knowledge thereof which the First Lien
Collateral Agent or the other First Lien Secured Parties, or any of them, may have or be otherwise charged with. 
  
 (b) Without in any way limiting the generality of the foregoing paragraph (but subject to the rights of the Borrower and the other Grantors under the
First Lien Loan Documents and subject to the provisions of Section 5.03(a)), the First Lien Secured Parties, the First Lien Collateral Agent and any of them may, at any time and from time to time in accordance with the First Lien Loan Documents
and/or applicable law, without the consent of, or notice to, the Second Lien Collateral Agent or any other Second Lien Secured Party, without incurring any liabilities to the Second Lien Collateral Agent or any other Second Lien Secured Party and
without impairing or releasing the Lien priorities and other benefits provided in this Agreement (even if any right of subrogation or other right or remedy of the Second Lien Collateral Agent or any Second Lien Secured Party is affected, impaired or
extinguished thereby) do any one or more of the following: 
  
 (i) change the manner, place or terms of payment or change or extend the time of payment of, or amend, renew, exchange, increase or alter, the terms of any of the First Lien Obligations or any Lien on any First Lien
Collateral or guarantee thereof or any liability of the Borrower or any other Grantor, or any liability incurred directly or indirectly in respect thereof (including any increase in or extension of the First Lien Obligations, without any restriction
as to the amount, tenor or terms of any such increase or extension) or otherwise amend, waive, consent, renew, exchange, extend, modify or supplement in any manner any Liens held by the First Lien Collateral Agent or any of the other First Lien
Secured Parties, the First Lien Obligations or any of the First Lien Loan Documents; provided that no such increase in the First Lien Obligations shall increase the First Lien Obligations to an amount in excess of the Maximum Priority Lien
Amount; 
  
 (ii) sell, exchange, release,
surrender, realize upon, enforce or otherwise deal with in any manner and in any order any part of the First Lien Collateral or any liability of the Borrower or any other Grantor to the First Lien Secured Parties or the First Lien Collateral Agent,
or any liability incurred directly or indirectly in respect thereof; 
  

 21 

 (iii) settle or compromise any First Lien Obligation or any other liability of the
Borrower or any other Grantor or any security therefor or any liability incurred directly or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any liability (including the First Lien Obligations) in any
manner or order (subject in the case of proceeds from any Collateral to the provisions of Section 4.01 and of Section 5.02 of the Guarantee and Collateral Agreement); and 
  
 (iv) exercise or delay in or refrain from exercising any right or remedy against the Borrower or any
security or any other Grantor or any other person, elect any remedy and otherwise deal freely with the Borrower, any other Grantor or any First Lien Collateral and any security and any guarantor or any liability of the Borrower or any other Grantor
to the First Lien Secured Parties or any liability incurred directly or indirectly in respect thereof. 
  
 (c) The Second Lien Collateral Agent, on behalf of itself and the other Second Lien Secured Parties, also agrees that the First Lien Secured Parties and
the First Lien Collateral Agent shall have no liability to the Second Lien Collateral Agent or any other Second Lien Secured Party, and the Second Lien Collateral Agent, on behalf of itself and the other Second Lien Secured Parties, hereby waives
any claim against any First Lien Secured Party or the First Lien Collateral Agent, arising out of any and all actions which the First Lien Secured Parties or the First Lien Collateral Agent may take or permit or omit to take with respect to: (i) the
First Lien Loan Documents, (ii) the collection of the First Lien Obligations or (iii) the foreclosure upon, or sale, liquidation or other disposition of, any First Lien Collateral. The Second Lien Collateral Agent, on behalf of itself and the Second
Lien Secured Parties, agrees that the First Lien Secured Parties and the First Lien Collateral Agent have no duty to them in respect of the maintenance or preservation of the First Lien Collateral, the First Lien Obligations or otherwise; and

  
 (d) The Second Lien Collateral Agent, on behalf of itself and
the other Second Lien Secured Parties, agrees not to assert and hereby waives, to the fullest extent permitted by law, any right to demand, request, plead or otherwise assert or otherwise claim the benefit of, any marshalling, appraisal, valuation
or other similar right that may otherwise be available under applicable law with respect to the Collateral or any other similar rights a junior secured creditor may have under applicable law. 
  
 SECTION 7.04. Obligations Unconditional. All rights, interests,
agreements and obligations of the First Lien Collateral Agent and the other First Lien Secured Parties and the Second Lien Collateral Agent and the other Second Lien Secured Parties, respectively, hereunder shall remain in full force and effect
irrespective of: 
  
 (a) any lack of validity or enforceability of
any First Lien Loan Documents or any Second Lien Loan Documents; 
  
 (b) except as otherwise set forth in the Agreement, any change in the time, manner or place of payment of, or in any other terms of, all or any of the First Lien 

  

 22 

 
Obligations or Second Lien Obligations, or any amendment or waiver or other modification, including any increase in the amount thereof, whether by course of
conduct or otherwise, of the terms of any First Lien Loan Document or any Second Lien Loan Document; 
  
 (c) any exchange of any security interest in any Collateral or any other collateral, or any amendment, waiver or other modification, whether in writing or
by course of conduct or otherwise, of all or any of the First Lien Obligations or Second Lien Obligations or any guarantee thereof; 
  
 (d) the commencement of any Insolvency or Liquidation Proceeding in respect of the Borrower or any other Grantor or any Guarantor; or 
  
 (e) any other circumstances which otherwise might constitute a defense
available to, or a discharge of, the Borrower or any other Grantor or any Guarantor in respect of the First Lien Obligations, or of the Second Lien Collateral Agent or any Second Lien Secured Party in respect of this Agreement. 
  
 ARTICLE VIII 
  
 Miscellaneous 
  
 SECTION 8.01. Conflicts. In the event of any conflict between the provisions of this Agreement and the provisions of the First Lien Loan Documents
or the Second Lien Loan Documents, the provisions of this Agreement shall govern and control. 
  
 SECTION 8.02. Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of lien
subordination and the First Lien Secured Parties may continue, at any time and without notice to the Second Lien Collateral Agent or any Second Lien Secured Party (subject, however, to the provisions of Section 5.03(a)), to extend credit and other
financial accommodations and lend monies to or for the benefit of the Borrower or any Grantor constituting First Lien Obligations in reliance hereof. The Second Lien Collateral Agent, on behalf of itself and the other Second Lien Secured Parties,
hereby waives any and all rights it may now or hereafter have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any
Insolvency or Liquidation Proceeding. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction
shall not invalidate or render unenforceable such provision in any other jurisdiction. All references to the Borrower or any other Grantor shall include the Borrower or such Grantor as debtor and debtor-in-possession and any receiver or trustee for
the Borrower or any other Grantor (as the case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect, (i) with respect to the Second Lien Collateral Agent, the other Second Lien
Secured Parties and the Second Lien Obligations, upon the later of (1) the date upon 

  

 23 

 
which the obligations under the Second Lien Credit Agreement terminate if there are no other Second Lien Obligations outstanding on such date and (2) if
there are other Second Lien Obligations outstanding on such date, the date upon which such Second Lien Obligations terminate and (ii) with respect to the First Lien Collateral Agent, the other First Lien Secured Parties and the First Lien
Obligations, the date of Discharge of First Lien Obligations, subject to the rights of the First Lien Secured Parties under Section 6.05. 
  
 SECTION 8.03. Amendments; Waivers. No amendment, modification or waiver of any of the provisions of this Agreement by the Second Lien Collateral
Agent or the First Lien Collateral Agent shall be deemed to be made unless the same shall be in writing signed on behalf of each party hereto or its authorized agent and each waiver, if any, shall be a waiver only with respect to the specific
instance involved and shall in no way impair the rights of the parties making such waiver or the obligations of the other parties to such party in any other respect or at any other time. Notwithstanding the foregoing, the Borrower shall not have any
right to consent to or approve any amendment, modification or waiver of any provision of this Agreement except to the extent its rights are directly affected (which includes, but is not limited to any amendment to the Grantors’ ability to cause
additional obligations to constitute First Lien Obligations or Second Lien Obligations as the Borrower may designate). 
  
 SECTION 8.04. Information Concerning Financial Condition of the Borrower and its Subsidiaries. The First Lien Collateral Agent and the other First
Lien Secured Parties, on the one hand, and the Second Lien Secured Parties and the Second Lien Collateral Agent, on the other hand, shall each be responsible for keeping themselves informed of (a) the financial condition of the Borrower and its
subsidiaries and all endorsers and/or guarantors of the First Lien Obligations or the Second Lien Obligations and (b) all other circumstances bearing upon the risk of nonpayment of the First Lien Obligations or the Second Lien Obligations. The First
Lien Collateral Agent and the other First Lien Secured Parties shall have no duty to advise the Second Lien Collateral Agent or any other Second Lien Secured Party of information known to it or them regarding such condition or any such circumstances
or otherwise. In the event the First Lien Collateral Agent or any of the other First Lien Secured Parties, in its or their sole discretion, undertakes at any time or from time to time to provide any such information to the Second Lien Collateral
Agent or any other Second Lien Secured Party, it or they shall be under no obligation (w) to make, and the First Lien Collateral Agent and the other First Lien Secured Parties shall not make or be deemed to have made, any express or implied
representation or warranty, including with respect to the accuracy, completeness, truthfulness or validity of any such information so provided, (x) to provide any additional information or to provide any such information on any subsequent occasion,
(y) to undertake any investigation or (z) to disclose any information which, pursuant to accepted or reasonable commercial finance practices, such party wishes to maintain confidential or is otherwise required to maintain confidential. 

 
 SECTION 8.05. Subrogation. With respect to the value of any
payments or distributions in cash, property or other assets that the Second Lien Secured Parties or Second Lien Collateral Agent pay over to the First Lien Collateral Agent or the other 

  

 24 

 
First Lien Secured Parties under the terms of this Agreement, the Second Lien Secured Parties and the Second Lien Collateral Agent shall be subrogated to the
rights of the First Lien Collateral Agent and the other First Lien Secured Parties; provided that, the Second Lien Collateral Agent, on behalf of itself and the other Second Lien Secured Parties, hereby agrees not to assert or enforce all
such rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of First Lien Obligations has occurred. The Borrower, each other Grantor and each Guarantor acknowledges and agrees that any payments or distributions
in cash, property or other assets received by the Second Lien Collateral Agent or any other Second Lien Secured Party that are paid over to the First Lien Collateral Agent or the other First Lien Secured Parties pursuant to this Agreement shall not
reduce any of the Second Lien Obligations. 
  
 SECTION 8.06.
Application of Payments. All payments received by the First Lien Collateral Agent or the other First Lien Secured Parties may be applied, reversed and reapplied, in whole or in part, to the First Lien Obligations or any part thereof, as
provided for in the First Lien Loan Documents. The Second Lien Collateral Agent, on behalf of itself and the other Second Lien Secured Parties, assents to any extension or postponement of the time of payment of the First Lien Obligations or any part
thereof and to any other indulgence with respect thereto, to any substitution, exchange or release of any security which may at any time secure any part of the First Lien Obligations and to the addition or release of any other person primarily or
secondarily liable therefor. 
  
 SECTION 8.07.
SUBMISSION TO JURISDICTION; WAIVERS. (a) ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST ANY PARTY ARISING OUT OF OR RELATING HERETO MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION IN THE STATE, COUNTY AND CITY
OF NEW YORK. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH PARTY, FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, IRREVOCABLY (i) ACCEPTS GENERALLY AND UNCONDITIONALLY THE NONEXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS; (ii) WAIVES ANY
DEFENSE OF FORUM NON CONVENIENS; (iii) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN RECEIPT REQUESTED, TO THE APPLICABLE PARTY AT ITS ADDRESS PROVIDED IN ACCORDANCE
WITH SECTION 8.09; AND (iv) AGREES THAT SERVICE AS PROVIDED IN CLAUSE (iii) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER THE APPLICABLE PARTY IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING
SERVICE IN EVERY RESPECT. 
  
 (b) EACH OF THE PARTIES
HERETO HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING HEREUNDER. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT
AND THAT RELATE 

  

 25 

 
TO THE SUBJECT MATTER HEREOF, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY
HERETO ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT EACH WILL CONTINUE TO RELY ON THIS WAIVER IN ITS RELATED
FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS
IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SECTION 8.07(b) AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER SHALL APPLY TO ANY
SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 
  
 SECTION 8.08. Waiver of Jury Trial. Each of the parties hereto waives any right it may have to trial by jury in
respect of any litigation based on, or arising out of, under or in connection with this Agreement, or any course of conduct, course of dealing, verbal or written statement or action of any party hereto. 
  
 SECTION 8.09. Notices. All notices to the Second Lien Secured Parties
and the First Lien Secured Parties permitted or required under this Agreement shall also be sent to the Second Lien Collateral Agent and the First Lien Collateral Agent, respectively. Unless otherwise specifically provided herein, any notice
hereunder shall be in writing and may be personally served, or sent by fax or United States mail or courier service and shall be deemed to have been given when delivered in person or by courier service and signed for against receipt thereof, upon
receipt of telefacsimile or telex, or three Business Days after depositing it in the United States mail with postage prepaid and properly addressed. For the purposes hereof, the addresses of the parties hereto shall be as set forth in Section 9.01
of the Credit Agreements, or, as to any party, at such other address as may be designated by such party in a written notice to all of the other parties. 
  
 SECTION 8.10. Further Assurances. The First Lien Collateral Agent, on behalf of itself and the other First Lien Secured Parties, and the Second
Lien Collateral Agent, on behalf of itself and the other Second Lien Secured Parties, and the Borrower, on behalf of itself, the other Grantors and the Guarantors, agrees that each of them shall take (or cause to be taken) such further action and
shall execute and deliver (or cause to be executed and delivered) such additional documents and instruments (in recordable form, if requested) as the First Lien Collateral Agent or the Second Lien Collateral Agent 

  

 26 

 
may reasonably request to effectuate the terms of and the lien priorities contemplated by this Agreement. 
  
 SECTION 8.11. APPLICABLE LAW. THIS AGREEMENT SHALL BE
GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
  
 SECTION 8.12. Binding on Successors and Assigns. This Agreement shall be binding upon the First Lien Collateral Agent, the other First Lien Secured
Parties, the Second Lien Collateral Agent, the other Second Lien Secured Parties and their respective successors and assigns. 
  
 SECTION 8.13. Specific Performance. Each of the First Lien Collateral Agent and the Second Lien Collateral Agent may demand specific performance of
this Agreement. The First Lien Collateral Agent, on behalf of itself and the other First Lien Secured Parties, and the Second Lien Collateral Agent, on behalf of itself and the other Second Lien Secured Parties, hereby irrevocably waives any defense
based on the adequacy of a remedy at law and any other defense which might be asserted to bar the remedy of specific performance in any action which may be brought by any First Lien Collateral Agent or the Second Lien Collateral Agent, as the case
may be. 
  
 SECTION 8.14. Headings. Headings in this
Agreement are included herein for convenience of reference only and shall not constitute a part of this Agreement for any other purpose or be given any substantive effect. 
  
 SECTION 8.15. Counterparts. This Agreement may be executed in counterparts (and by different parties hereto in
different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement or any document or instrument
delivered in connection herewith by fax shall be effective as delivery of a manually executed counterpart of this Agreement or such other document or instrument, as applicable. 
  
 SECTION 8.16. Authorization. By its signature, each person executing this Agreement on behalf of a party hereto
represents and warrants to the other parties hereto that it is duly authorized to execute this Agreement. 
  
 SECTION 8.17. No Third Party Beneficiaries. This Agreement and the rights and benefits hereof shall inure to the benefit of each of the parties
hereto and its respective successors and assigns and shall inure to the benefit of each of the First Lien Secured Parties and the Second Lien Secured Parties. No other person shall have or be entitled to assert rights or benefits hereunder. Nothing
in this Agreement shall impair, as between the Borrower and the First Lien Collateral Agent and the other First Lien Secured Parties, or as between the Borrower and the Second Lien Collateral Agent and the other Second Lien Secured Parties, the
obligations of the Borrower to pay principal, interest, fees and other amounts as provided in the First Lien Loan Documents and the Second Lien Loan Documents, respectively. 
  

 27 

 SECTION 8.18. Provisions Solely to Define Relative Rights. The provisions of this Agreement are
and are intended solely for the purpose of defining the relative rights of the First Lien Secured Parties on the one hand and the Second Lien Secured Parties on the other hand. None of the Borrower, any other Grantor, any Guarantor or any other
creditor thereof shall have any rights hereunder and none of the Borrower, any other Grantor or any Guarantor may rely on the terms hereof. Nothing in this Agreement is intended to or shall impair the obligations of the Borrower or any other Grantor
or any Guarantor, which are absolute and unconditional, to pay the First Lien Obligations and the Second Lien Obligations as and when the same shall become due and payable in accordance with their terms. 
  
 SECTION 8.19. UK Security Documents; Future Single-Lien Collateral
Documents. The First Lien Collateral Agent, on behalf of itself and the other First Lien Secured Parties, on the one hand, and the Second Lien Collateral Agent, on behalf of itself and the other Second Lien Secured Parties, on the other hand,
acknowledges and agrees that, notwithstanding the fact that a single Lien in favor of the First Lien Secured Parties and the Second Lien Secured Parties (a) has been created under the UK Security Agreement and the Charge of Shares in ATP Oil &
Gas (UK) Limited (referred to as the UK Pledge Agreement in the Credit Agreements) or (b) is at any time created under any other Collateral Document, the lienholders’ rights in respect of such single Lien shall for all purposes be governed by
the terms of this Agreement. 
  

 28 

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

			
	 ATP OIL & GAS CORPORATION,

		
	 by:
	 	 /s/ T. Paul Bulmahn

	 	 	

	 Name:
	 	 T. Paul Bulmahn

	 Title:
	 	 President

  

			
	ATP ENERGY, INC.,
		
	 by:
	 	 /s/ T. Paul Bulmahn

	 	 	

	 Name:
	 	 T. Paul Bulmahn

	 Title:
	 	 President

  

			
	 ATP OIL & GAS (UK) LIMITED,

		
	 by:
	 	 /s/ T. Paul Bulmahn

	 	 	

	 Name:
	 	 T. Paul Bulmahn

	 Title:
	 	 Director

  

			
	 ATP OIL & GAS (NETHERLANDS) B.V.,

		
	 by:
	 	 /s/ John E. Tschirhart

	 	 	

	 Name:
	 	 John E. Tschirhart

	 Title:
	 	 Managing Director

  

			
	CREDIT SUISSE FIRST BOSTON, as First Lien Collateral Agent,
		
	 by:
	 	 /s/ James Moran

	 	 	

	 Name:
	 	 James Moran

	 Title:
	 	 Director

		
	 by:
	 	 /s/ David Dodd

	 	 	

	 Name:
	 	 David Dodd

	 Title:
	 	 Associate

  

 29 

			
	CREDIT SUISSE FIRST BOSTON, as Second Lien Collateral Agent,
		
	 by:
	 	 /s/ James Moran

	 	 	

	 Name:
	 	 James Moran

	 Title:
	 	 Director

		
	 by:
	 	 /s/ David Dodd

	 	 	

	 Name:
	 	 David Dodd

	 Title:
	 	 Associate

  

 30License Agreement

 Exhibit 10.16 
  
 EXCLUSIVE LICENSE AGREEMENT 
  
 BETWEEN 
  
 CHILDREN’S MEDICAL CENTER CORPORATION 
  
 AND 
  
 BOSTON LIFE SCIENCES INC.

 TABLE OF CONTENTS 
  

					
	 Articles

	 	 	  	Page

	 I.
	 	Definitions	  	1
			
	 II.
	 	Grant	  	3
			
	 III.
	 	Due Diligence	  	4
			
	 IV.
	 	Royalties and Other Payments	  	6
			
	 V.
	 	Reports and Records	  	7
			
	 VI.
	 	Patent Prosecution	  	8
			
	 VII.
	 	Infringement	  	9
			
	 VIII.
	 	Uniform Indemnification and Insurance Provisions	  	10
			
	 IX.
	 	Export Controls	  	11
			
	 X.
	 	Arbitration	  	11
			
	 XI.
	 	Non-Use of Names	  	12
			
	 XII.
	 	Assignment	  	12
			
	 XIII.
	 	Term and Termination	  	13
			
	 XIV.
	 	Payments, Notices and Other Communications	  	14
			
	 XV.
	 	Confidentiality	  	14
			
	 XVI.
	 	General Provisions	  	15

 EXCLUSIVE LICENSE AGREEMENT 
  
 This Agreement is made and entered into as of the date last written below (the Effective Date), by and between
CHILDREN’S MEDICAL CENTER CORPORATION, a charitable corporation duly organized and existing under the laws of the Commonwealth of Massachusetts and having its principal office at 300 Longwood Avenue, Boston, Massachusetts, 02115, U.S.A.
(hereinafter referred to as “CMCC”), and Boston Life Sciences, Inc., a business corporation organized and existing under the laws of the State of Delaware and having its principal office at 137 Newbury Street, 8`’ Floor, Boston, MA
02116 (hereinafter referred to as “LICENSEE”). 
  
 WHEREAS, CMCC is the owner of certain Patent Rights (as that term shall be defined hereafter) that have been developed as set forth in U.S. Patent Application Serial No. 60/208,778, filed June 1, 2000, entitled “Macrophage-derived
factors that enable nerve cells to survive injury and regenerate their axons (CMCC 797) by Larry Benowitz, and has the right to grant exclusive licenses under said Patent Rights, subject only to a royalty-free, nonexclusive license heretofore
granted to the United States Government for those patents developed with U.S. Government funding; 
  
 WHEREAS, CMCC desires to have the Patent Rights utilized in the public interest and is willing to grant a license thereunder on the terms and conditions
described herein; 
  
 WHEREAS, LICENSEE has represented to CMCC
that LICENSEE is ready, willing and able to engage in the commercial development, production, manufacture, marketing and sale of Licensed Products (as that term shall be defined hereafter) and/or the use of Licensed Processes(as that term shall be
defined hereafter) and that it shall commit itself to a thorough, vigorous and diligent program of exploiting the Patent Rights in accordance with the terms and conditions described herein so that public utilization shall result therefrom; and

  
 WHEREAS, LICENSEE desires to obtain an exclusive license under
the Patent Rights on the terms and conditions of this Agreement. 
  
 NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, the parties hereto agree as follows: 
  
 ARTICLE I. DEFINITIONS 
  
 For the purpose of this Agreement, the following words and phrases shall have the meanings set forth below: 
  
 A. “Affiliate” shall mean any company or other legal entity
controlling, controlled by or under common control with LICENSEE. For purposes of the definition of “Affiliate” the term “control” shall mean: (i) in the case of a corporate entity, the direct or indirect ownership of at least a
majority of the stock or participating shares entitled to vote for the election of directors of that entity; (ii) in the case of a partnership, the power customarily held by a general partner to direct the management and policies of such
partnership; or (iii) in the case of a joint venture, whether in corporate, partnership or other legal form, a more than nominal economic interest and managerial role. 
  
 B. “Combination Product(s) or Process(es)” shall mean a product or process that includes a Licensed Product or
Licensed Process sold in combination with another component(s) whose manufacture, use or sale by an unlicensed party would not constitute an infringement of the Patent Rights. 
  

 1 

 C. “Field of Use” shall mean the diagnosis, prevention or treatment of nervous system disease
or condition in humans. 
  
 D. “First Commercial Sale”
shall mean with respect to each country: (1) the first sale of any Licensed Product or Licensed Process by LICENSEE, following approval of such Licensed Product’s or Licensed Process’s marketing by the appropriate governmental agency, if
any such approval is necessary, for the country in which the sale is to be made; or (ii) when governmental approval is not required, the first sale in that country of the Licensed Product or Licensed Process. 
  
 E. “Licensed Product” shall mean any product or part thereof:

  

	 	1.	 	The manufacture, use or sale of which would infringe any one of the issued, valid, enforceable, unexpired claim(s) or any one of the pending claim(s) contained in the Patent Rights
in any country. 

  

	 	2.	 	The manufacture of which uses a “Licensed Process” as that term shall be defined hereafter. 

  
 F. “Licensed Process” shall mean any process that would infringe any one of the issued, valid, enforceable,
unexpired claim(s) or any one of the pending claim(s) contained in the Patent Rights in any country. 
  
 G. “LICENSEE” shall mean LICENSEE and/or its successor(s) or assignee(s) and/or its Affiliates. 
  
 H. “Net Sales” shall mean gross receipts received by LICENSEE,
LICENSEE’s SUBLICENSEE’s or LICENSEE’s Affiliates for Licensed Products and Licensed Processes produced hereunder, less the sum of the following: 
  

	 	1.	 	Discounts allowed in. amounts customary in the trade. 

  

	 	2.	 	Sales taxes, tariff duties and/or use taxes directly imposed and with reference to particular sales. 

  

	 	3.	 	Outbound transportation and delivery charges (including insurance premiums related to transportation and delivery) prepaid or allowed. 

  

	 	4.	 	Amounts allowed or credited on returns. 

  
 No deductions shall be made for commissions paid to individuals whether they are with independent sales agencies or regularly employed by LICENSEE and on
its payroll or for the cost of collections. Licensed Products and Licensed Processes shall be considered “sold” when billed out or invoiced. Notwithstanding anything herein to the contrary, the following shall not be considered a sale of a
Licensed Product or Licensed Process under this Agreement: (1) the transfer of a Licensed Product or Licensed Process to an Affiliate for sale by the Affiliate in a transaction that will be royalty bearing; (ii) the transfer of a Licensed Product or
Licensed Process to a third party without consideration to LICENSEE in connection with the development or testing of a Licensed Product or Licensed Process; or (iii) the transfer of a Licensed Product or Licensed Process to a third party without
consideration in connection with the marketing or promotion of the Licensed Product or Licensed Process. 
  

 2 

 I. “Patent Rights” shall mean all of the following intellectual property which CMCC owns or has
rights to during the term of this Agreement: 
  

	 	1.	 	The United States and foreign patents and/or patent applications listed in Appendix 1 attached hereto and incorporated herein by reference and divisionals and continuations thereof.

  

	 	2.	 	The United States and foreign patents issued from the applications listed in Appendix 1 and from divisionals and continuations of those applications. 

  

	 	3.	 	Claims of United States and foreign continuation-in-part applications, and of the resulting patents, which relate to subject matter specifically described in the United States and
foreign patent applications described in Appendix 1. 

  

	 	4.	 	Claims of all later filed foreign patent applications, and of the resulting patents, which relate to subject matter specifically described in the United States patent and/or patent
applications described in subparagraphs 1, 2 or 3 of this Article I, Paragraph I. 

  

	 	5.	 	Any reissues, divisions, amendments or extensions of the United States or foreign patents described in subparagraphs 1, 2, 3 or 4 of this Article I, Paragraph I.

  
 J. “SUBLICENSEE” shall mean a person
or entity unaffiliated with LICENSEE to whom LICENSEE has granted a sublicense under this Agreement. 
  
 ARTICLE II. GRANT 
  
 A. CMCC hereby grants to LICENSEE the worldwide right and exclusive license to make, have made, use, lease and sell the Licensed Products and to practice the Licensed Processes for the Field of Use to the end of the term for which the
Patent Rights are granted, unless sooner terminated as provided in this Agreement. 
  
 B. Notwithstanding anything above to the contrary, CMCC shall retain a royaltyfree, nonexclusive, irrevocable license to practice, and to sublicense other non-profit research organizations to practice, the Patent
Rights for noncommercial research purposes only. 
  
 C.
Notwithstanding anything above to the contrary, the license granted hereunder shall be subject to the rights of the United States government, if any, under Public Laws 96-517, 97-226, and 98-620, codified at 35 U.S.C. sec. 200-212 and any
regulations promulgated thereunder. 
  
 D. LICENSEE agrees that
Licensed Products leased or sold in the United States shall be manufactured substantially in the United States. 
  
 E. In order to establish exclusivity for LICENSEE, CMCC hereby agrees that it shall not, without LICENSEE’s prior written consent, grant to any other
commercial party a license to make, have made, use, lease and/or sell Licensed Products or to use the Licensed Processes in the Field of Use during the period of time in which this Agreement is in effect, except as otherwise specified in this
Agreement or as required by law to grant rights to the United States Government. 
  

 3 

 F. LICENSEE shall have the right to enter into sublicensing agreements with respect to any of the rights,
privileges, and licenses granted hereunder, subject to the terms andconditions hereof. Such sublicenses will terminate upon the termination of LICENSEE’s rights granted herein unless events of default are cured by LICENSEE or SUBLICENSEE within
thirty (30) days of notification by CMCC of default and/or as provided by the terms of this Agreement. 
  
 G. LICENSEE agrees that any sublicense granted by it shall provide that the obligations to CMCC of Articles II (Grant), V (Reports and Records), VII
(Infringement), VIII (Insurance and Indemnification), IX (Export Controls), X (Non-Use of Names), XI(Assignment), XII (Dispute Resolution), XIII (Term and Termination) and XV (Miscellaneous Provisions) of this Agreement shall be binding upon the
SUBLICENSEE as if it were a party to this Agreement. LICENSEE further agrees to attach a copy of this Agreement to all sublicense agreements, deleting economic terms when and as appropriate. 
  
 H. LICENSEE agrees to provide to CMCC notice of any sublicense granted
hereunder and to forward to CMCC a copy of any and all fully executed sublicense agreements. LICENSEE further agrees to forward to CMCC annually a copy of such reports received byLICENSEE from its SUBLICENSEES during the preceding twelve (12) month
period as shall be pertinent to a royalty accounting under the applicable sublicense. 
  
 I. LICENSEE shall advise CMCC in writing of any consideration received from SUBLICENSEES. LICENSEE shall not accept from any SUBLICENSEE anything of value in lieu of cash payments to discharge SUBLICENSEE’s
payment obligations under any sublicense granted under this Agreement, without the express written permission of CMCC, which permission shall not be unreasonably withheld. 
  
 J. The license granted hereunder shall not be construed to confer any rights upon LICENSEE by implication, estoppel or
otherwise as to any technology not described in the Patent Rights. 
  
 ARTICLE III. DUE DILIGENCE 
  
 A. Licensee shall use its
good faith and diligent efforts to bring one or more Licensed Products and/or Licensed Processes to market as soon as reasonably practicable, consistent with sound and reasonable business practices and judgement, through a thorough, vigorous and
aggressive development program. Thereafter, Licensee agrees that until expiration or termination of this Agreement, Licensee shall continue active and diligent efforts to keep Licensed Products and/or Licensed Processes reasonably available to the
public. In the event Licensee decides not to exploit a licensed Patent Right, it shall promptly inform CMCC in writing and shall surrender to CMCC its license to that Patent Right. 
  
 B. The parties acknowledge that LICENSEE has provided to CMCC prior to the date of execution of this Agreement a written
commercialization development plan (“Development Plan”), setting forth the initial indications and markets for Licensed Products and Licensed Processes, including to the extent practicable: (1) time-delimited targets for pre-clinical
development, clinical trials, regulatory approval, manufacturing and marketing that represent reasonable efforts, consistent with industry norms for similar technology and applications, to 
  

 4 

 bring Licensed Products and Licensed Processes to the marketplace; and (ii) actual or projected financial resources
and/or strategic alliances that will be required to implement the Development Plan. The Development Plan is attached hereto as Appendix 2 and is hereby incorporated herein by reference. 
  
 C. LICENSEE shall use good faith and diligent efforts to accomplish the following milestones, as set forth in the
Development Plan, and to manufacture and distribute Licensed Products and Licensed Processes: 
  

	 	3.C.1.	 	within 18 months of Effective Date, the filing of an IND (Investigational New Drug Application) in the U.S. for a Licensed Product by LICENSEE 

  

	 	3.C.2.	 	within 2 years of Effective :Date, the sublicensing of Patent Rights to a Development partner 

  

	 	3.C.3	 	upon sublicensing of Patent Rights to a Development Partner, provision of sponsored research monies to Dr. Larry Benowitz’s laboratory to fund two years of work on projects
relating to subject matter specifically described in Patent Rights 

  

	 	3.C.4.	 	within 2 years of Effective Date, the initiation of Phase I or Phase I/II clinical trials of a Licensed Product 

  

	 	3.C.5.	 	within 4 years of Effective Date, the initiation of Phase III Clinical Trials of a Licensed Product 

  

	 	3.C.6.	 	within 6 years of Effective Date the filing of an BLA in the U.S. for a Licensed Product by Licensee 

  
 D. Notwithstanding anything above to the contrary, CMCC shall not unreasonably withhold its assent to any revision of the
objective(s) set forth in the Development Plan when requested in writing by LICENSEE and supported by evidence reasonably acceptable to CMCC: (i) of technical difficulties or delays in the clinical studies or regulatory process that LICENSEE could
not have reasonably avoided; or (ii) that LICENSEE, its Affiliates and/or SUBLICENSEES have expended good faith and diligent efforts and adequate resources to meet said objective. 
  
 E. In the event CMCC reasonably believes that LICENSEE is not diligently seeking to achieve the objectives set forth in the
Development Plan in a timely manner, CMCC shall so notify LICENSEE in writing. LICENSEE shall have the option, exercisable by written notice to CMCC provided within ten (10) days after receipt of any such notice, to either: (i) receive a three (3)
months grace period to establish to CMCC’s reasonable satisfaction that LICENSEE is expending its good faith and diligent efforts and adequate resources to achieve said objectives; or (ii) agree to CMCC’s termination of this Agreement as
provided hereafter. In the event LICENSEE agrees to termination of this Agreement, CMCC shall immediately terminate the license granted to LICENSEE under this Agreement. In the event LICENSEE fails to establish its diligence to CMCC’s
reasonable satisfaction as provided above prior to expiration of the three (3) months grace period, CMCC shall have the right to terminate the license granted to LICENSEE under this Agreement. 
  
 F. In the event LICENSEE fails to meet the objective(s) set forth in 3.C
above in a timely manner, CMCC shall notify LICENSEE thereof in writing, and LICENSEE shall; have thirty (30) days following such notification to establish to the reasonable satisfaction of CMCC that (i) it has met such objective(s); or (ii) a
revision to 3.C is necessary and appropriate as contemplated above. In the event LICENSEE fails to establish the same to CMCC’s reasonable satisfaction, CMCC shall have the right in its discretion to terminate the license granted to 

 

 5 

 LICENSEE under this Agreement or to convert the license granted to LICENSEE hereunder to a non-exclusive license on
financial terms and conditions mutually agreed to by CMCC and LICENSEE. 
  
 ARTICLE IV. ROYALTIES AND OTHER PAYMENTS 
  
 A. For the
rights, privileges and exclusive licenses granted hereunder, LICENSEE shall pay to CMCC the following amounts in the manner hereinafter provided until the end of theterm of the last to expire Patent Right, unless this Agreement shall be sooner
terminated as hereinafter provided: 
  

	 	1.	 	A license issue fee of $25,000 which license issue fee shall be deemed earned and due immediately upon the execution of this Agreement. 

  

	 	2.	 	LICENSEE shall make the following milestone payments to CMCC upon the occurrence of the following events (“Milestones”): 

  
 (a) $50,000 at the filing of an IND 
  
 (b) $75,000 at the completion of Phase I clinical Trials
for any indication 
  
 (c) $100,000 at the
initiation of Phase III Clinical Trials 
  
 (d)
$200,000 at the filing of an NDA 
  

	 	3.	 	Running Royalties in an amount equal to six percent (6%) of Net Sales of Licensed Products or Licensed Processes used, leased or sold by and/or for LICENSEE and/or its Affiliates.

  

	 	4.	 	In the event LICENSEE has granted sublicenses under this Agreement, twenty percent (20%) of any and all payments received by LICENSEE from said SUBLICENSEES in consideration of
permitting the SUBLICENSEE to practice the Patent Rights, including but not limited to sublicense issue fees, any lump sum payments, milestone payments, technology transfer payments or other similar fees, and royalties; provided that with respect to
running royalties in connection with a SUBLICENSEE’s sales of Licensed Products or Licensed Processes, LICENSEE shall pay to CMCC hereunder an amount equal to the royalty CMCC would have received from LICENSEE if such sales had been made by
LICENSEE. 

  
 B. No multiple royalties shall be
payable because any Licensed Product or Licensed Process, its manufacture, use, lease or sale are or shall be covered by more than one Patent Rights patent application or Patent Rights patent licensed under this Agreement. 
  
 C. To the extent that LICENSEE obtains subsequent to the date of this
Agreement licenses to third party patents or other intellectual property that are necessary to produce or sell Licensed Products or Licensed Processes, LICENSEE may deduct from the royalty due to CMCC fifty percent (50%) of the royalties due on such
third party patents or intellectual property up to an amount equal to fifty percent (50%) of royalties hereunder. 
  
 D. For purposes of calculating royalties, in the event that a Licensed Product or Licensed Process includes both component(s) covered by a valid claim of
a Patent Right (“Patented Component”) and a component which is diagnostically useable or therapeutically active alone or in a combination which does not require the Patented Component, and such 
  

 6 

 component is not covered by a valid claim of a Patent Right (“Unpatented Component”), then Net Sales of the
Combination Product or Combination Process shall be calculated using one of the following methods; provided that in no event shall royalties payable to CMCC hereunder be reduced to less than fifty percent (50%) of those otherwise due hereunder:

  

	 	1.	 	By multiplying the Net Sales of the Combination Product or Combination Process during the applicable royalty accounting period (“accounting period”) by a fraction, the
numerator of which is the aggregate grossselling price of the Patented Component(s) contained in the Combination Product or Combination Process if sold separately, and the denominator of which is the sum of the gross selling price of both the
Patented Component(s) and the Unpatented Component(s) contained in the Combination Product or Combination Process if sold separately; or 

  

	 	2.	 	In the event that no such separate sales are made of the Patented Component(s) or the Unpatented Components during the applicable accounting period, Net Sales for purposes of
determining royalties payable hereunder shall be calculated by multiplying the Net Sales of the Combination Product or Combination Process by a fraction, the numerator of which is the fully allocated production cost of the Patented Component(s) and
the denominator of which is the sum of the fully allocated production costs of the Patented Component(s) and the Unpatented Component(s) contained in the Combination Product or Combination Process. Such fully allocated costs shall be determined by
using LICENSEE’s standard accounting procedures, which procedures must conform to standard cost accounting procedures. 

  
 E. Royalty payments shall be paid in United States dollars in Boston, Massachusetts, or at such other place as CMCC may reasonably designate consistent
with the laws and regulations controlling in any foreign country. If the currency conversion shall be required in connection with the payments of royalties or other amounts hereunder, the conversion shall be made by using the exchange rate
prevailing at the Bank of Boston on the last business day of the calendar quarterly reporting period to which such royalty payments relate. 
  
 F. The royalty payments set forth in this Agreement shall, if overdue, bear interest until payment at a per annum rate of four percent (4%) above the
prime rate in effect at Fleet Bank on the due date. The payment of such interest shall not foreclose CMCC from exercising any other rights it may have as a consequence of the lateness of any payment. 
  
 ARTICLE V. REPORTS AND RECORDS 
  
 A. LICENSEE shall keep, and shall require its Affiliates and SUBLICENSEES to
keep, full, true and accurate books of account in accordance with generally accepted accounting principles and containing sufficient detail to enable CMCC to determine the royalty and other amounts payable to CMCC under this Agreement. Said books of
account shall be kept at LICENSEE’s principal place of business or the principal place of business of the appropriate division of LICENSEE to which this Agreement relates. Said books and the supporting data shall be retained for at least five
(5) years following the end of the calendar year to which they pertain. 
  
 B. CMCC shall have the right to audit the books of account described above from time to time to the extent necessary to verify the reports provided for herein or compliance in other respects with this Agreement. CMCC omits agents shall
perform these audits at CMCC’s expense during LICENSEE’s regular business hours. 
  

 7 

 C. LICENSEE shall deliver to CMCC true and accurate reports by March 31st, for the period July 1 through
December 31 of the previous year, and on September 30th, for the period January 1 st through June 30th of the current year, giving such particulars of the businessconducted by LICENSEE, its Affiliates and its SUBLICENSEES under this Agreement as
shall be pertinent to a royalty accounting hereunder. These reports shall include at least the following: 
  

	 	1.	 	Number of Licensed Products and Licensed Processes manufactured and sold. 

  

	 	2.	 	Aggregate billings for Licensed Products and Licensed Processes sold. 

  

	 	3.	 	Accounting for all Licensed Products and Licensed Processes sold. 

  

	 	4.	 	Applicable deductions. 

  

	 	5.	 	Total royalties due based on Net Sales by or for LICENSEE. 

  

	 	6.	 	Names and addressers of all SUBLICENSEES of LICENSEE. 

  

	 	7.	 	Payments received by LICENSEE from Affiliates and SUBLICENSEES. 

  

	 	8.	 	Licensed Products manufactured and sold to the U.S. Government. No royalty obligations shall arise from sales or use by, for or on behalf of the U.S. Government in view of a
royalty-free, nonexclusive license that may heretofore have been granted to the U.S. Government. 

  

	 	9.	 	Royalties and Fees received from SUBLICENSEES. 

  
 D. Until the First Commercial Sale of a Licensed Product or Licensed Process, LICENSEE shall provide to CMCC at least annually reasonable detail regarding
the activities of LICENSEE and LICENSEE’s Affiliates and SUBLICENSEES relative to achieving the objectives set forth in the Development Plan in a timely manner, including but not limited to, reports of financial expenditures to achieve said
objectives, research and development activities, regulatory approvals, strategic alliances and manufacturing, sublicensing and marketing efforts. 
  
 E. With each such report submitted, LICENSEE shall pay to CMCC the royalties due and payable under this Agreement. If no royalties shall be due, LICENSEE
shall so report. 
  
 F. On or before the ninetieth (90th) day
following the close of LICENSEE’s fiscal year, LICENSEE shall provide CMCC with LICENSEE’s certified financial statements for the preceding fiscal year, including at a minimum a balance sheet and an operating statement. 
  
 ARTICLE VI. PATENT PROSECUTION 
  
 A. LICENSEE, at its own expense and utilizing the Patent Attorneys of its
choice, shall have the sole right and responsibility, after consultation with CMCC, for the filing, prosecution and maintenance during the term of this Agreement of any patent application and patents contained in the Patent Rights set forth in
Appendix 1; provided, however, that CMCC 
  

 8 

 shall have the right to approve LICENSEE’s choice of patent attorneys, such approval not to be unreasonably withheld
LICENSEE or its patent counsel shall provide CMCC with copies of all correspondence and documents filed with, or received from the United States Patent and Trademark Office or any foreign patent office or patent agent. In addition, LICENSEE agrees
that, where permitted, any patent applications shall be filed, and/or issued in the name of CMCC, and that any and all official or `ribbon’ copies of issued patents shall be forwarded to, and retained by, CMCC. 
  
 B. In the event LICENSEE elects not to file, prosecute, and/or maintain any
patent applications and/or patents contained in the Patent Rights LICENSEE shall so notify CMCC at least thirty (30) days prior to taking, or not taking, any action which would result in abandonment, withdrawal or lapse of such patent or patent
application. In such event, LICENSEE shall provide to CMCC any authorization necessary to permit CMCC to file, prosecute and/or maintain said patent applications and/or patents, at its own expense utilizing counsel of its choice, and, further, CMCC
shall be free to license such patent applications and/or patents to any other party. LICENSEE shall have no further royalty obligations under this Agreement with respect to any such Patent Right. 
  
 ARTICLE VII. INFRINGEMENT 
  
 A. LICENSEE and CMCC shall each inform the other promptly in writing of any
alleged infringement by a third party of the Patent Rights in the Field of Use and of any available evidence thereof.’ 
  
 B. During the term of this License Agreement, LICENSEE shall have the right, but not the obligation, to prosecute and/or defend, at its own expense and
utilizing counsel of its choice, any infringement of, and/or challenge to, the Patent Rights; provided, however that CMCC shall have the right to approve LICENSEE’s choice of counsel, such approval not to be unreasonably withheld. In
furtherance of such right, CMCC hereby agrees that LICENSEE may join CMCC as a party in any such suit, without expense to CMCC. No settlement, consent judgment or other voluntary final disposition of any such suit may be entered into without the
consent of CMCC which consent shall not unreasonably be withheld. LICENSEE shall indemnify CMCC against any order for costs that may be made against CMCC in any such suit. 
  
 C. In the event that LICENSEE shall undertake the enforcement and/or defense of the Patent Rights, as provided in Paragraph
7.2, LICENSEE may withhold up to fifty percent (50%) of the royalties otherwise thereafter due CMCC in Article IV(A)(3) and apply such amount toward reimbursement of LICENSE.E’s expenses, including attorneys’ fees, in connection therewith.
Any recovery of damages by LICENSEE, in any such suit, shall be applied first in satisfaction of any unreimbursed expenses and legal fees of LICENSEE relating to the suit, and next toward reimbursement of CMCC for any royalties past due or withheld
and applied pursuant to this paragraph. Any balance remaining from any such recovery shall be apportioned 50% to LICENSEE and 50% to CMCC. 
  
 D. If within six (6) months after receiving notice of any alleged infringement, LICENSEE shall have been unsuccessful in persuading the alleged
infringement to desist, or shall not have brought and shall not be diligently prosecuting an infringement action, or if LICENSEE Shall notify CMCC, at any time prior thereto, of its intention not to bring suit against the alleged infringer, then,
and in those events only, CMCC shall have the right, but not the obligation, to prosecute, at its own expense and utilizing counsel of its choice, any cost of any such infringement action commenced solely by CMCC shall be borne by CMCC and CMCC

  

 9 

 shall keep any recovery or damages for past infringement derived therefrom. CMCC shall indemnify LICENSEE against any
order for costs that may be made against LICENSEE in any such suit. 
  
 E. In any suit to enforce and/or defend the Patent Rights pursuant to this License Agreement, the party not in control of such suit shall, at the request and expense of the controlling party, cooperate in all respects and, to the extent
possible, have its employees testify when requested and make available relevant records, papers, information, samples, specimens, and the like. 
  
 F. LICENSEE during the period of this License Agreement, shall have the sole right, in accordance with the terms and conditions herein, to sublicense any
alleged infringer for future use of the Patent Rights. 
  
 ARTICLE
VIII. UNIFORM INDEMNIFICATION 
 AND INSURANCE PROVISIONS 
  
 A. LICENSEE shall indemnify, defend and hold harmless CMCC, its corporate affiliates, current or future directors, trustees,
officers, faculty, medical and professional staff, employees, students and agents and their respective successors, heirs and assigns (the”Indemmtees”), against any liability, damage, loss or expense (including reasonable attorney’s
fees and expenses of litigation) incurred by or imposed upon the Indemnitees or any one of them in connection with any claims, suits, actions, demands or judgments arising out of any theory of product liability (including, but not limited to,
actions in the form of tort, warranty, or strict liability) concerning any product, process or service made, used or sold pursuant to any right or license granted under this Agreement. 
  
 B. LICENSEE’s indemnification under Article VIII, Paragraph A above shall not apply to any liability, damage, loss or
expense to the extent that it is directly attributable to the negligent activities, reckless misconduct or intentional misconduct of the Indemnitees. 
  
 C. LICENSEE agrees, at its own expense, to provide attorneys reasonably acceptable to CMCC to defend against any actions brought or filed against any
party indemnified hereunder with respect to the subject of indemnity contained herein, whether or not such actions are rightfully brought. 
  
 D. Beginning at the time as any such product, process or service is being commercially distributed or sold (other than for the purpose of obtaining
regulatory approvals) by LICENSEE or by a SUBLICENSEE, Affiliate or agent of LICENSEE, LICENSEE shall, at its sole cost and expense, procure and maintain commercial general liability insurance in amounts not less than $2,000,000 per incident and
$2,000,000 annual aggregate and naming the Indemnitees as additional insureds. Such commercial general liability insurance shall provide (i) product liability coverage and (ii) contractual liability coverage for LICENSEE’s indemnification under
Article VIII, Paragraphs A through C of this Agreement. If LICENSEE elects to self-insure all or part of the limits described above (including deductibles or retentions which are in excess of $250,000 annual aggregate), such self-insurance program
must be acceptable to CMCC and the Risk Management Foundation of the Harvard Medical Institutions, Inc. The minimum amount of insurance coverage required under this Article VIII, Paragraph E. shall not be construed to create a limit of
LICENSEE’s liability with respect to its indemnification under Article VIII, Paragraphs A through C of this Agreement. 
  

 10 

 E. LICENSEE shall provide CMCC with written evidence of such insurance upon request of CMCC. LICENSEE
shall provide CMCC with written notice at least fifteen (15) days prior to the cancellation, non-renewal or material change in such insurance. If LICENSEE does not obtain replacement insurance providing comparable coverage within such fifteen (15)
day period, CMCC shall have the right to terminate this Agreement effective at the end of such fifteen (15) day period without notice of any additional waiting periods. 
  
 F. LICENSEE shall maintain such commercial general liability insurance during (i) the period that any such product, process
or service is being commercially distributed or sold (other than for the purpose of obtaining regulatory approvals) by LICENSEE or by a SUDLICENSEE, Affiliate or agent of LICENSEE and (ii) a reasonable period after the period referred to above,
which in no event shall be less than fifteen (15) years. 
  
 G.
Article VIII, Paragraphs A through F shall survive expiration or termination of this Agreement. 
  
 H. OTHER THAN WARRANTIES SET FORTH HEREIN, CMCC MAKES NO WARRANTY, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTY OF
MERCHANTABILITY OR ANY IMPLIED WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO ANY PATENT, TRADEMARK, SOFTWARE, TRADE SECRET, TANGIBLE RESEARCH PROPERTY, INFORMATION OR DATA LICENSED OR OTHERWISE PROVIDED TO LICENSEE HEREUNDER AND
HEREBY DISCLAIMS THE SAME. 
  
 ARTICLE IX. EXPORT CONTROLS

  
 It is understood that CMCC is subject to United States laws
and regulations controlling the export of technical data, computer software, laboratory prototypes and other commodities (including the Arms Export Control Act, as amended and the Export Administration Act of 1979), and that its obligations
hereunder are contingent on compliance with applicable United States export laws and regulations. The transfer of certain technical data and commodities may require a license from the cognizant agency of the United States Government and/or written
assurances by LICENSEE that LICENSEE shall not export data or commodities to certain foreign countries without prior approval of such agency. CMCC neither represents that a license shall not be required, nor that if required, it shall be issued.

  
 ARTICLE X. ARBITRATION 
  
 A. Any and all claims, disputes or controversies arising under, out of, or in
connection with this Agreement, which have not been resolved by good faith negotiations between the parties within three (3) months following the initiation of said negotiations will be resolved in accordance with this paragraph. 
  
 (a) Either party may give, the other written notice of any dispute arising
out of or relating to this Research Agreement which is not resolved in the ordinary course of business within said three (3) month period. Within fifteen (15) days of receipt of said notice, the parties shall meet at a mutually acceptable time and
place, and thereafter as often as they reasonably deem necessary, to exchange relevant information and to attempt to settle the dispute. If the matter has not been resolved within thirty (30) days of receipt of the notice prided above, or in the
event the parties fail to meet within twenty (20) days of the receipt of said notice, either party may request in writing that the matter be submitted to mediation in accordance with subparagraph (b) below. 
  

 11 

 (b) Within fifteen (15) days of receipt of a request for mediation as described above, the parties agree
to commence mediation as described above, the parties agree to commence mediation in the City of Boston, Commonwealth of Massachusetts in accordance with the policies and procedures of Endispute, Inc. (“Endispute”). The parties shall
select a mediator acceptable to both CMCC and LICENSEE fbrm a list prided by Endispute. The parties agree to cooperate in good faith in said mediator’s efforts to assist the parties to resolve the dispute. Each party agrees to pay fifty percent
(50%) of the costs of said mediation. If the matter has not been resolved within thirty (30) days of the commencement of mediation, either party may request in writing that the matter be submitted to arbitration in accordance with subparagraph (c)
below. 
  
 (c) Any dispute arising under this License Agreement
which is not resolved in accordance with either subparagraph (a) or (b), shall be determined by arbitration in the City of Boston, Commonwealth of Massachusetts, in accordance with the rules and regulations of the American Arbitration Association
(“AAA”). Any such arbitration shall be conducted before a single arbitrator agreed upon by the parties, or, if the parties are unable to agree upon a mutually acceptable arbitrator, an arbitrator shall be chosen in accordance with AAA
rules and regulations. The arbitrators determination may be filed with the clerk of the court of competent jurisdiction as a final adjudication of the matter at issue, or application may be made to such court for judicial acceptance of the award and
an order of enforcement, as the case may be. 
  
 (d) Nothing
herein shall restrict the right of either party to institute legal proceeding to enable such party to obtain provisional injunctive relief while any arbitration is still pending. 
  
 B. Notwithstanding the foregoing, nothing in this Article shall be construed to waive any rights or timely performance of
any obligations existing under this Agreement. 
  
 ARTICLE XI.
NON-USE OF NAMES 
  
 LICENSEE shall not use the name of
Children’s Medical Center Corporation nor the name of any of its corporate affiliates or employees, nor any adaptation thereof, in any advertising, promotional or sales literature without prior written consent obtained from CMCC in each case,
except that LICENSEE may state that it is licensed by CMCC under one or more of the patents and/or applications comprising the Patent Rights, and LICENSEE may comply with disclosure requirements of all applicable laws relating to its business,
including United States and state security laws. 
  
 ARTICLE XII.
ASSIGNMENT 
  
 A. Except as otherwise provided herein, this
Agreement is not assignable in whole or in part, and any attempt to do so shall be void and of no effect. 
  
 B. CMCC may assign this Agreement at any time to any corporate affiliate of CMCC without the prior consent of LICENSEE. 
  
 C. Except as provided in Article XI, Paragraph D below, LICENSEE may assign
this Agreement to another entity only with the prior written consent of CMCC, which consent shall not be unreasonably withheld or delayed. 
  

 12 

 D. Notwithstanding anything herein to the contrary, in the event LICENSEE merges with another entity, is
acquired by another entity, or sells all or substantially all of its assets to another entity, LICENSEE may assign its rights and obligations hereunder to, in the event of a merger or acquisition, the surviving entity, and in the event of a sale,
the acquiring entity, without CMCC’s consent so long as: (i) LICENSEE is not then in breach of this Agreement; (ii) the proposed assignee has a net worth at least equivalent to the net worth LICENSEE had as of the date of this Agreement; (iii)
the proposed assignee has available resources and sufficient scientific, business and other expertise comparable to LICENSEE in order to satisfy its obligations hereunder; (iv) LICENSEE provides written notice of the assignment to CMCC, together
with documentation sufficient to demonstrate the requirements set forth in subparagraphs (i) through (iii) above, at least thirty (30) days prior to the effective date of the assignment; and (v) CMCC receives from the assignee, in writing, at least
thirty (30) days prior to the effective date of the assignment: (a) reaffirmation of the terms of this Agreement; (b) an agreement to be bound by the terms of this Agreement; and (c) an agreement to perform the obligations of LICENSEE under this
Agreement. 
  
 ARTICLE XIII. TERM AND TERMINATION 
  
 A. The term of this Agreement shall be not less than fifteen (15) years or
the life of the last expiring Patent Right, whichever period is the longer term. 
  
 B. CMCC may terminate this Agreement immediately upon the bankruptcy, insolvency, liquidation, dissolution or cessation of operations of LICENSEE; or the filing of any voluntary petition for bankruptcy, dissolution,
liquidation or winding-up of the affairs of LICENSEE; or any assignment by LICENSEE for the benefit of creditors; or the filing of any involuntary petition for bankruptcy, dissolution, liquidation or winding-up of the affairs of LICENSEE which is
not dismissed within ninety (90) days of the date on which it is filed or commenced. 
  
 C. CMCC may terminate this Agreement upon thirty (30) days prior written notice in the event of LICENSEE’s failure to pay to CMCC royalties due and payable hereunder in a timely manner, unless LICENSEE shall make
all such payments to CMCC within said thirty (30) day period. Upon the expiration of the thirty (30) day period, if LICENSEE shall not have made all such payments to CMCC, the rights, privileges and licenses granted hereunder shall terminate.

  
 D. Except as otherwise provided in Paragraph C above, CMCC may
terminate this Agreement upon sixty (60) days prior written notice in the event of LICENSEE’s breach or default of any material term or condition or warranty contained in this Agreement, unless LICENSEE shall cure such breach to CMCC’s
reasonable satisfaction within said sixty (60) day period. Upon the expiration of the sixty- (60) day period, if LICENSEE shall not have cured said breach to the reasonable satisfaction of CMCC, the rights, privileges and license granted hereunder
shall terminate. 
  
 E. LICENSEE shall have the right to terminate
this Agreement at any time upon six (6) months’ prior written notice to CMCC, and upon payment by LICENSEE of all amounts due CMCC through the effective date of termination. 
  
 F. Upon termination of this Agreement for any reason, nothing herein shall be construed to release either party from any
obligation that matured prior to the effective date of such termination. LICENSEE and any SUBLICENSEE thereof may, however, after the effective 
  

 13 

 date of such termination, sell all Licensed Products and complete Licensed Products in the process of manufacture at the
time of such termination and sell the same, provided that LICENSEE shall pay to CMCC the royalties thereon as required under this Agreement and shall submit the reports required under this Agreement on the sales of Licensed Products. 
  
 ARTICLE XIV. PAYMENTS, NOTICES, AND OTHER COMMUNICATIONS 
  
 A. All payments, notices, reports and/or other communications made in
accordance with this Agreement, shall be sufficiently made or given on the date of the mailing if delivered by hand, by facsimile or sent by first class mail postage prepaid and addressed as follows: 
  
 In the case of CMCC: 
  
 Director, Technology Transfer 
 Office of Research Administration 
 Children’s Hospital 
 300 Longwood Avenue 
 Boston, MA 02115 
  
 In the case of LICENSEE:

  
 Marc E. Lanser, M.D. 
 Executive Vice President 
 Boston Life
Sciences, Inc. 
 137 Newbury Street 8th Floor 
 Boston, MA 02116 
  
 or such other address as
either party shall notify the other in writing. 
  
 ARTICLE XV.
CONFIDENTIALITY 
  
 A. The parties agree to limit access to
CMCC/LICENSEE Material that is marked as “Confidential,” to exercise at least reasonable care to prevent disclosure of such Material to any third party, and to use such Material for research purposes only. These obligations of
confidentiality shall not apply to information which can be demonstrated by written records to be previously known to the party receiving information or to information or material which is available to or becomes available from a public source or
which is required to be disclosed to comply with a governmental law or regulation. This obligation shall continue for three (3) years following the date of termination of this Agreement, but may be modified by written agreement. 
  
 B. Notwithstanding anything herein to the contrary, Licensee further
acknowledges and agrees that Licensee Confidential Information shall not include data generated by CMCC or CMCC’s employees, his/her associates, co-workers or staff in connection with the work done relating to the subject matter described in
Patent Rights. Licensee and CMCC acknowledge that such data is subject to the disclosure limitation included in Article X of this Agreement. 
  
 C. Licensee agrees that CMCC shall not be liable to Licensee or to any third party claiming by or through Licensee for any unauthorized disclosure or use
of Licensee Confidential Material which occurs despite CMCC’s compliance with its obligations under article 15.A above. 
  

 14 

 ARTICLE XVI. GENERAL PROVISIONS 
  
 A. All rights and remedies hereunder will be cumulative and not alternative, and this Agreement shall be construed and
governed by the laws of the Commonwealth of Massachusetts. 
  
 B.
This Agreement may be amernded only by written agreement signed by the parties. 
  
 C. It is expressly agreed by the parties hereto that CMCC and LICENSEE are independent contractors and nothing in this Agreement is intended to create an employer relationship, joint venture, or partnership between
the parties. No party has the authority to bind the other. 
  
 D.
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all proposals, negotiations and other communications between the parties, whether written or oral, with respect to the
subject matter hereof. 
  
 E. If any provisions of this Agreement
shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions of this Agreement shall not be impaired thereby. 
  
 F. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against the
party whose signature appears thereon, but all of which taken together shall constitute but one and the same instrument. 
  
 G. The failure of either party to assert a right to which it is entitled or to insist upon compliance with any term or condition of this Agreement shall
not constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition by the other party. 
  
 H. LICENSEE agrees to mark any Licensed Products sold in the United States with all applicable United States patent numbers. All Licensed Products shipped
to or sold in other countries shall be marked in such a manner as to conform with the patent laws and practices of the country of manufacture or sale. 
  
 I. Each party hereto agrees to execute, acknowledge and deliver such further instruments and do all such further acts as may be necessary or appropriate
to carry out the purposes and intent of this Agreement. 
  
 J. The
paragraph headings contained in this Agreement are for reference purposes only and shall not in any way affect the meaning or interpretation of this Agreement. 
  

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date last written below. 
  

											
	 CHILDREN’S MEDICAL CENTER
	  	 BOSTON LIFE SCIENCES, INC. CORPORATION

				
	 By:
	 	 /s/ Donald P. Lombardi

	  	 By: :
	 	 /s/ Marc E. Lanser

	 	 	 Name:
	 	 Donald P. Lombardi
	  	 	 	 Name:
	 	 Marc E. Lanser, M.D.

	 	 	 Title:
	 	 Chief Intellectual Property Officer
	  	 	 	 Title:
	 	 Executive Vice President

				
	 Date:
	 	 September 11, 2001
	  	 Date:
	 	 August 13, 2001

  

 15 

 Appendix 1 
  
 U.S. Patent Applications: 
  

			
	 Serial No.
	  	 Filing Date:

		
	 60/208,778
	  	 June l, 2001

  

 16 

 Appendix 2 
  
 Development Plan for macrophage-derived factors that enable nerve cells to survive injury and regenerate their axons. 
  

			
	 Licensee will provide CMCC with a more detailed Development Plan, according to

	 Section III.B in the Agreement
	 	 3rd. quarter 2003

	 IND Filing
	 	 3rd. quarter 2005

	 Beginning Phase I Clinical Trial
	 	 3rd Quarter 2007

	 Beginning Phase II Clinical Trial
	 	 3rd Quarter 2009

	 Beginning Phase III Clinical Trial
	 	 3rd Quarter 2011

	 Filing of a BLA
	 	 3rd Quarter 2013

  

 17

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