Document:

EX-10.1

 Exhibit 10.1 

AMENDMENT AGREEMENT 
 DATED 25
JUNE 2018 
 FOR 
 WABCO
HOLDINGS INC. 
 THE COMPANY 

ARRANGED BY 
 BANK OF AMERICA
MERRILL LYNCH INTERNATIONAL LIMITED, BNP PARIBAS FORTIS SA/NV, CITIGROUP GLOBAL MARKETS LIMITED, HSBC BANK PLC, BRUSSELS BRANCH, ING BELGIUM SA/NV, MUFG BANK, LTD. (FORMERLY KNOWN AS THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.) AND UNICREDIT BANK AG 

ACTING AS BOOKRUNNERS AND MANDATED LEAD ARRANGERS 

WITH 
 CITIGROUP GLOBAL MARKETS
LIMITED 
 AS COORDINATOR 

CITIBANK N.A. 
 AS DOLLAR SWINGLINE
AGENT 
 CITIBANK EUROPE PLC, UK BRANCH 

(PREVIOUSLY KNOWN AS CITIBANK INTERNATIONAL LIMITED) 

AS AGENT, EURO SWINGLINE AGENT AND 100M AGENT 

AND 
 CITIBANK, N.A., LONDON
BRANCH 
 AS ISSUING BANK 
  

 
 RELATING TO A
FACILITY AGREEMENT DATED 8 JULY 2011 
 AS AMENDED PURSUANT TO AN AMENDMENT AGREEMENT 

DATED 23 AUGUST 2013 AND AN AMENDMENT AGREEMENT 

DATED 30 SEPTEMBER 2015 
  

 

 CONTENTS 
  

					
	Clause	 	 	  	Page
			
	1.	 	Definitions and Interpretation	  	2
			
	2.	 	Representations	  	3
			
	3.	 	Prepayment	  	3
			
	4.	 	Restatement	  	4
			
	5.	 	Financial Statements	  	4
			
	6.	 	CP Satisfaction Date	  	4
			
	7.	 	Accession and Departing Lenders	  	4
			
	8.	 	Indemnity for New Lenders	  	6
			
	9.	 	Continuity and Further Assurance	  	6
			
	10.	 	Fees, Costs and Expenses	  	6
			
	11.	 	Miscellaneous	  	7
			
	12.	 	Governing Law	  	7
		
	Schedule 1 The Parties	  	8
		
	Schedule 2 Conditions Precedent	  	10
		
	Schedule 3 Restated Agreement	  	12

  
 - i - 

 THIS AGREEMENT is dated 25 June 2018 and made between: 

 

	(1)	WABCO HOLDINGS INC. (the “Company”); 

  

	(2)	THE SUBSIDIARIES of the Company listed in Part I of Schedule 1 (The Parties) as borrowers (together with the Company, the “Borrowers”); 

 

	(3)	THE COMPANY as guarantor (the “Guarantor”); 

  

	(4)	BANK OF AMERICA MERRILL LYNCH INTERNATIONAL LIMITED, BNP PARIBAS FORTIS SA/NV, CITIGROUP GLOBAL MARKETS LIMITED, HSBC BANK PLC, BRUSSELS BRANCH, ING BELGIUM SA/NV, MUFG BANK, LTD. (FORMERLY KNOWN AS THE BANK OF
TOKYO-MITSUBISHI UFJ, LTD.) and UNICREDIT BANK AG as bookrunners and mandated lead arrangers (whether acting individually or together the “Arranger”); 

 

	(5)	CITIGROUP GLOBAL MARKETS LIMITED as coordinator (the “Coordinator”); 

 

	(6)	CITIBANK N.A. as dollar swingline agent (the “Dollar Swingline Agent”), as original dollar swingline lender (the “Original
Dollar Swingline Lender”) and as original euro swingline lender (the “Original Euro Swingline Lender”); 

 

	(7)	CITIBANK EUROPE PLC, UK BRANCH (PREVIOUSLY KNOWN AS CITIBANK INTERNATIONAL
LIMITED) as agent (the “Agent”) and as euro swingline agent (the “Euro Swingline Agent”); 

  

	(8)	CITIBANK EUROPE PLC, UK BRANCH (PREVIOUSLY KNOWN AS CITIBANK INTERNATIONAL
LIMITED) as agent under the 100M Facility Agreement (the “100M Agent”); 

  

	(9)	CITIBANK, N.A., LONDON BRANCH as issuing bank (the “Issuing Bank”); 

  

	(10)	THE FINANCIAL INSTITUTIONS listed in Part II of Schedule 1 (The Parties) as departing lenders (the “Departing Lenders”);

  

	(11)	THE FINANCIAL INSTITUTIONS listed in Part III of Schedule 1 (The Parties) as continuing lenders (the “Continuing Lenders”);

  

	(12)	THE FINANCIAL INSTITUTIONS listed in Part IV of Schedule 1 (The Parties) as new Lenders (the “New Lenders”); and 

 

	(13)	THE FINANCIAL INSTITUTIONS listed in Part V of Schedule 1 (The Parties) as the designated entities (the “Designated
Entities”). 

  
 - 1 - 

 IT IS AGREED as follows: 
  

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	Definitions 

 In this Agreement: 

“100M Facility Agreement” means USD100,000,000 multicurrency revolving facility agreement dated 17
December 2014 between, among others, the Company, the Subsidiaries of the Company listed therein as original borrowers, the mandated lead arrangers and the lenders defined therein. 

“100M Facility Lenders” means each Lender party to this Agreement that is, on the date of this Agreement, a lender under the
100M Facility Agreement. 
 “400M Facility Lenders” means each Lender party to this Agreement that is, on the date of this
Agreement, a lender under the Original Facility Agreement. 
 “Amended Facility Agreement” means
the Original Facility Agreement, as amended and restated by this Agreement. 
 “CP Satisfaction Date” means the date on
which the Agent confirms to the Lenders and the Company that it has received each of the documents and other evidence listed in Schedule 2 (Conditions Precedent) in a form and substance satisfactory to the Agent. 

“Effective Date” means the date on which the First Utilisation is to be made. 

“Fee Letter” means any letter or letters dated on or about the date of this Agreement between the Agent, the Coordinator or
the Issuing Bank and the Company setting out any of the fees referred to in Clause 10 (Fees, Costs and Expenses) or clauses 7.2 (Fees payable in respect of Letters of Credit) and 20 (Fees) of the Amended Facility Agreement. 

“First Utilisation” means the first Loan requested by a Borrower following the CP Satisfaction Date pursuant to the First
Utilisation Request. 
 “First Utilisation Request” has the meaning given to such term in Schedule 2 (Conditions
Precedent). 
 “Guarantee Obligations” means the guarantee and indemnity obligations of a Guarantor contained in the
Original Facility Agreement. 
 “New Finance Documents” means this Agreement and each Fee Letter. 

“Original Facility Agreement” means the revolving facility agreement originally dated 8 July 2011
between the Company, the Original Borrowers, the Original Guarantor, the Agent, the Arranger, the Issuing Bank, the Swingline Agents, the Original Swingline Lenders and the Lenders all as defined therein, as amended pursuant to an amendment
agreement dated 23 August 2013 and an amendment and restatement agreement dated 30 September 2015. 

  
 - 2 - 

 “Representations” means the representations set out in clause 27
(Representations) of the Amended Facility Agreement. 
  

	1.2	Incorporation of defined terms 

  

	 	(a)	Unless a contrary indication appears, a term defined in the Original Facility Agreement has the same meaning in this Agreement. 

  

	 	(b)	The principles of construction set out in the Original Facility Agreement shall have effect as if set out in this Agreement. 

  

	1.3	Clauses 

 In this Agreement any reference to a “Clause” or a
“Schedule” is, unless the context otherwise requires, a reference to a Clause in or a Schedule to this Agreement. 
  

	1.4	Third party rights 

 A person who is not a party to this Agreement has no right under the
Contracts (Rights of Third Parties) Act 1999 to enforce or to enjoy the benefit of any term of this Agreement. 
  

	1.5	Designation 

 In accordance with the Original Facility Agreement, each of the Company and
the Agent designates each New Finance Document as a Finance Document. 
  

	2.	REPRESENTATIONS 

 The Representations are deemed to be made by each Obligor (by reference
to the facts and circumstances then existing) on: 
  

	 	(a)	the date of this Agreement; and 

  

	 	(b)	the Effective Date, 

 and references to “this Agreement” in the Representations should
be construed as references to this Agreement and to the Original Facility Agreement and on the Effective Date, to the Amended Facility Agreement. 
  

	3.	PREPAYMENT 

  

	 	(a)	In accordance with clause 7.3 (Voluntary cancellation) and clause 7.4 (Voluntary Prepayment of Utilisations) of the 100M Facility Agreement, the
Borrowers (as defined therein) hereby notify the 100M Agent that they wish to: 

  

	 	(i)	prepay all Loans (as defined therein) outstanding under the 100M Facility Agreement on the Effective Date (together with accrued interest and subject to Break Costs (as defined therein)); and 

 

	 	(ii)	cancel the whole of the Commitments (as defined therein) on the Effective Date. 

  
 - 3 - 

	 	(b)	In accordance with clause 16.4 (Voluntary Prepayment of Utilisations) of the Original Facility Agreement, the Borrowers hereby notify the Agent that they wish to prepay
all Loans outstanding under the Original Facility Agreement on the Effective Date (together with accrued interest and subject to Break Costs). 

  

	 	(c)	Each of the 100M Facility Lenders hereby agrees to such prepayment and cancellation and each of the 400M Facility Lenders hereby agrees to such prepayment and waives the notice period for prepayment and cancellation
required by the terms of the 100M Facility Agreement and/or the Original Facility Agreement. 

  

	 	(d)	Each of the Continuing Lenders and each of the New Lenders hereby agrees to an Interest Period of one Month and one day for the Loan requested in the First Utilisation Request (as such term is defined in paragraph 3(f)
of Schedule 2 (Conditions Precedent)). 

  

	4.	RESTATEMENT 

 With effect from the Effective Date the Original Facility Agreement shall
be amended and restated so that it shall be read and construed for all purposes as set out in Schedule 3 (Restated Agreement). 
  

	5.	FINANCIAL STATEMENTS 

 The Lenders agree to extend the deadline for the
delivery of the audited financial statements of WABCO Europe BVBA and WABCO Financial Services Sprl as of the end of and for the financial year 2017 by 20 days. 
  

	6.	CP SATISFACTION DATE 

  

	 	(a)	The Agent shall notify the Lenders and the Company promptly upon satisfaction of the condition set out in the definition of “CP Satisfaction Date”. 

 

	 	(b)	Other than to the extent that the Majority Lenders notify the Agent in writing to the contrary before the Agent gives the notification described in paragraph (a) above, the Lenders authorise (but do not require) the
Agent to give that notification. The Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving any such notification. 

  

	7.	ACCESSION AND DEPARTING LENDERS 

  

	 	(a)	With effect from the Effective Date: 

  

	 	(i)	each New Lender agrees to assume and will assume all of the obligations corresponding to the Commitments set out against its name in part II of schedule 1 (The Original Parties) of the
Amended Facility Agreement as if it was an Original Lender under the Amended Facility Agreement; 

  

	 	(ii)	each of the Obligors and the New Lenders shall assume obligations towards one another and/or acquire rights against one another as the Obligors and the New Lenders would have assumed and/or acquired had each New Lender
been an Original Lender under the Amended Facility Agreement; 

  
 - 4 - 

	 	(iii)	each New Lender becomes party to the relevant Finance Documents as a Lender and each of the other Finance Parties shall assume obligations towards one another and acquire rights against one another as the New Lenders
and those other Finance Parties would have assumed and/or acquired had each New Lender been an Original Lender under the Amended Facility Agreement; 

  

	 	(iv)	the Commitments of each Departing Lender shall be zero and each Departing Lender will cease to be a Lender under the Amended Facility Agreement; and 

 

	 	(v)	each of the New Lenders and the Continuing Lenders agree that they have the Commitments set out against their name in part II of schedule 1 (The Original Parties) of the Amended Facility Agreement.

  

	 	(b)	The Facility Office, address, fax number and attention details for notices to each New Lender for the purposes of clause 39.2 (Addresses) of the Amended Facility Agreement are those notified to the Agent prior to
the date of this Agreement. 

  

	 	(c)	Each New Lender expressly acknowledges that clause 32.4 (Limitation of responsibility of Existing Lenders) of the Amended Facility Agreement
shall apply mutatis mutandis in this Clause 7 in relation to it, as if “Existing Lender” were references to all the Lenders other than each New Lender. 

 

	 	(d)	Each New Lender confirms, for the benefit of the Agent and without liability to any Obligor, that it is a Belgian Qualifying Lender. 

 

	 	(e)	Any amounts payable to a Departing Lender by the Obligors pursuant to any Finance Document on or before the Effective Date (including, without limitation, all interest, fees and commission payable on the Effective Date)
in respect of any period ending on or prior to the Effective Date shall be for the account of that Departing Lender and none of the Continuing Lenders shall have any interest in, or any rights in respect of, any such amount. 

 

	 	(f)	Each New Lender confirms to the other Finance Parties that it: 

  

	 	(i)	has received a copy of the Original Facility Agreement together with such other information as it has required in connection with this transaction; 

 

	 	(ii)	has made (and shall continue to make) its own independent investigation and assessment of the financial condition and affairs of each Obligor and its related entities in connection with its participation in this
Agreement and the Amended Facility Agreement; and 

  

	 	(iii)	will continue to make its own independent appraisal of the creditworthiness of each Obligor and its related entities whilst any amount is or may be outstanding under the Finance Documents or any Commitment is in force.

  
 - 5 - 

	8.	INDEMNITY FOR NEW LENDERS 

 If, as a result of the operation
of the Original Facility Agreement (other than by reason of default or negligence by the New Lender alone), the First Utilisation is not made on the Effective Date, the Company shall (or shall procure an Obligor will), within three Business Days of
demand, indemnify each New Lender against any cost, loss or liability incurred by that New Lender as a result of funding or making arrangements to fund the First Utilisation which would otherwise have been made by such New Lender on the Effective
Date. 
  

	9.	CONTINUITY AND FURTHER ASSURANCE 

  

	9.1	Continuing obligations 

 The provisions of the Original Facility Agreement
and the other Finance Documents shall, save as amended by this Agreement, continue in full force and effect. 
  

	9.2	Confirmation of Guarantee Obligations 

 For the avoidance of doubt,
the Guarantor confirms for the benefit of the Finance Parties that all Guarantee Obligations owed by it under the Amended Facility Agreement shall (a) remain in full force and effect notwithstanding the amendments referred to in Clause 4
(Restatement) and (b) extend to any new obligations assumed by any Obligor under the Finance Documents as a result of this Agreement (including, but not limited to, under the Amended Facility Agreement). 

 

	9.3	Further assurance 

 Each Obligor, shall, at the request of the Agent and at such
Obligor’s own expense, do all such acts and things necessary or desirable to give effect to the amendments effected or to be effected pursuant to this Agreement. 
  

	10.	FEES, COSTS AND EXPENSES 

  

	10.1	Fees 

 The Company shall pay to: 

 

	 	(a)	the Agent (for account of the Arranger), an arrangement fee; 

  

	 	(b)	the Agent (for account of the Continuing Lenders), an amendment fee; 

  

	 	(c)	the Agent (for its own account), an agency fee; and 

  

	 	(d)	the Issuing Bank (for its own account), an issuing bank fee, 

 each in the amount and at the
times agreed in a Fee Letter. 

  
 - 6 - 

	10.2	Transaction expenses 

 The Company shall promptly on demand pay the Agent
and the Coordinator the amount of all costs and expenses (including but not limited to legal fees) reasonably incurred by either of them in an amount certified by it in reasonable detail in connection with the negotiation, preparation, printing,
execution and syndication of this Agreement and any other documents referred to in this Agreement, subject to a cap of USD15,000 (excluding legal fees). 
  

	11.	MISCELLANEOUS 

  

	11.1	Incorporation of terms 

 The provisions of clause 39
(Notices), clause 41 (Partial invalidity), clause 42 (Remedies and waivers) and clause 49 (Enforcement) of the Original Facility Agreement shall be incorporated into this Agreement as if set out in full in this Agreement
and as if references in those clauses to “this Agreement” or “the Finance Documents” are references to this Agreement. 
  

	11.2	Counterparts 

 This Agreement may be executed in any number of counterparts, and this has
the same effect as if the signatures on the counterparts were on a single copy of this Agreement. 
  

	12.	GOVERNING LAW 

 This Agreement and any
non-contractual obligations arising out of or in connection with it are governed by English law. 
 This
Agreement has been entered into on the date stated at the beginning of this Agreement. 

  
 - 7 - 

 SCHEDULE 1 

THE PARTIES 
 PART I

 THE BORROWERS 
  

			
	Name of Borrower	  	Registration number (or equivalent, if any)
	 WABCO Holdings Inc.
	  	4283982 (Record No. with the Delaware Secretary of State)
		
	 WABCO Europe BVBA
	  	0475.956.135
		
	 WABCO Financial Services Sprl
	  	0881.425.934
		
	 WABCO Asia Private Ltd.
	  	200607693H
		
	 WABCO Hong Kong Limited
	  	1143938

 PART II 

THE DEPARTING LENDERS 
  

			
	Name of Departing Lender	  	Commitment (USD)
	 Credit Lyonnais
	  	0
		
	 National Westminster Bank plc
	  	0

 PART III 

THE CONTINUING LENDERS 
  

					
	Name of Continuing Lender	  	Commitment (USD)	 
	 Bank of America Merrill Lynch International Limited
	  	 	85,714,285.72	 
	 BNP Paribas Fortis SA/NV
	  	 	85,714,285.72	 
	 Citibank, N.A., London Branch
	  	 	85,714,285.72	 
	 ING Belgium SA/NV
	  	 	85,714,285.71	 
	 MUFG Bank, Ltd. (formerly known as The Bank of Tokyo- Mitsubishi UFJ, Ltd.)
	  	 	85,714,285.71	 
	 UniCredit Bank AG
	  	 	85,714,285.71	 
	 Total:
	  	 	USD514,285,714.29	 

  
 - 8 - 

 PART IV 

THE NEW LENDERS 
  

			
	Name of New Lender	  	Commitment (USD)
	 HSBC Bank plc, Brussels Branch
	  	85,714,285.71

 PART V 

THE DESIGNATED ENTITIES 
  

					
	Related Lender	  	Designated Entity	  	Jurisdiction
	Bank of America Merrill Lynch International Limited	  	Bank of America N.A.	  	Wabco Holdings Inc
			
	Bank of America Merrill Lynch International Limited	  	Bank of America Merrill Lynch International Limited	  	Wabco Europe BVBA
			
	Bank of America Merrill Lynch International Limited	  	Bank of America Merrill Lynch International Limited	  	Wabco Financial Services Sprl
			
	Bank of America Merrill Lynch International Limited	  	Bank of America N.A., Singapore Branch	  	Wabco Asia Private Ltd
			
	Bank of America Merrill Lynch International Limited	  	Bank of America N.A., Hong Kong Branch	  	Wabco Hong Kong Ltd
			
	Citibank, N.A., London Branch	  	Citibank, N.A., Singapore Branch	  	Wabco Asia Private Ltd

  
 - 9 - 

 SCHEDULE 2 

CONDITIONS PRECEDENT 
  

	1.	Obligors 

  

	 	(a)	A copy of the constitutional documents of each Obligor or a certificate of each relevant Obligor (signed by a director or manager or by a Financial Officer of the relevant Obligor duly authorised by the board of
directors or managers) certifying that the constitutional documents previously delivered to the Agent for the purposes of the Original Facility Agreement have not been amended and remain in full force and effect. 

 

	 	(b)	A copy of a resolution of the board of directors or managers of each Obligor: 

  

	 	(i)	approving the terms of, and the transactions contemplated by, the New Finance Documents (including, for the avoidance of doubt, the Amended Facility Agreement) and resolving that it execute the New Finance Documents to
which it is a party; 

  

	 	(ii)	in the case of each Belgian Obligor, setting out the reasons why the board of directors or managers of that Obligor considered that the entry into the New Finance Documents (including, for the avoidance of doubt, the
Amended Facility Agreement) to which it is a party is of benefit to that Obligor; 

  

	 	(iii)	authorising a specified person or persons to execute the New Finance Documents to which it is a party on its behalf; and 

  

	 	(iv)	authorising a specified person or persons, on its behalf, to sign and/or despatch all documents and notices (including, if relevant, any Utilisation Request) to be signed and/or despatched by it under or in connection
with the New Finance Documents (including, for the avoidance of doubt, the Amended Facility Agreement) to which it is a party. 

  

	 	(c)	A specimen of the signature of each person authorised by the resolution referred to in paragraph (b) above. 

  

	 	(d)	A copy of a good standing certificate with respect to each U.S. Obligor, issued as of a recent date satisfactory to the Agent by the Secretary of State or other appropriate official of each U.S. Obligor’s
jurisdiction of incorporation or organisation. 

  

	 	(e)	A certificate in form and substance satisfactory to the Agent of the chief financial officer, treasurer or director of each U.S. Obligor as to the solvency of such U.S. Obligor. 

 

	 	(f)	A certificate of each Obligor (signed by a director or manager or by a Financial Officer of the relevant Obligor duly authorised by the board of directors or managers) certifying that each copy document relating to it
specified in this Schedule 2 is correct, complete and in full force and effect as at a date no earlier than the date of this Agreement. 

  
 - 10 - 

	2.	Legal Opinions 

  

	 	(a)	A legal opinion of Clifford Chance LLP, legal advisers to the Finance Parties in England, substantially in the form distributed to the Lenders prior to signing this Agreement. 

 

	 	(b)	If an Obligor is incorporated in a jurisdiction other than England and Wales, a legal opinion of the legal advisers to the Finance Parties in the relevant jurisdiction, substantially in the form distributed to the
Lenders prior to signing this Agreement. 

  

	3.	Other documents and evidence 

  

	 	(a)	A copy of each New Finance Document duly executed by the Obligors party to it. 

  

	 	(b)	The consolidated audited financial statements of the Company for its financial year ended 31 December 2017 and the audited financial statements of each other Obligor for the financial year ended 31 December 2016.

  

	 	(c)	Evidence that any agent for service of process referred to in clause 49.2 (Service of process) of the Original Facility Agreement (as incorporated into this Agreement pursuant to
Clause 11 (Miscellaneous)) has accepted its appointment. 

  

	 	(d)	A copy of any other Authorisation or other document, opinion or assurance which the Agent, acting reasonably, considers to be necessary or desirable (if it has notified the Company accordingly prior to the date of this
Agreement) in connection with the entry into and performance of the transactions contemplated by this Agreement or for the validity and enforceability of this Agreement. 

 

	 	(e)	Evidence of payment of all fees, costs and expenses then due from the Company pursuant to Clause 10 (Fees, costs and expenses). 

 

	 	(f)	A copy of the Utilisation Request for the First Utilisation in the agreed form in an amount at least equal to the aggregate of: 

  

	 	(i)	all Loans (as defined in the 100M Facility Agreement) outstanding under the 100M Facility Agreement on the Effective Date; and 

  

	 	(ii)	all Loans outstanding under the Original Facility Agreement on the Effective Date, 

 and with
irrevocable payment instructions directing payment to the 100M Agent and the Agent (the “First Utilisation Request”). 

  
 - 11 - 

 SCHEDULE 3 

RESTATED AGREEMENT 

  
 - 12 - 

 USD600,000,000 

FACILITY AGREEMENT 
 FOR 

WABCO HOLDINGS INC. 
 ARRANGED BY

 BANK OF AMERICA MERRILL LYNCH INTERNATIONAL LIMITED, BNP PARIBAS 

FORTIS SA/NV, CITIGROUP GLOBAL MARKETS LIMITED, HSBC BANK PLC, 

BRUSSELS BRANCH, ING BELGIUM SA/NV, MUFG BANK, LTD. (FORMERLY 

KNOWN AS THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.) AND UNICREDIT 

BANK AG 
 ACTING AS BOOKRUNNERS AND
MANDATED LEAD ARRANGERS 
 WITH 

CITIGROUP GLOBAL MARKETS LIMITED 

ACTING AS COORDINATOR 
 AND 

CITIBANK EUROPE PLC, UK BRANCH 

(PREVIOUSLY KNOWN AS CITIBANK INTERNATIONAL LIMITED) 

ACTING AS AGENT 
  

 
 MULTICURRENCY
REVOLVING FACILITY 
 AGREEMENT 

INCORPORATING A U.S. DOLLAR SWINGLINE 

FACILITY, A EURO SWINGLINE FACILITY AND A 

LETTER OF CREDIT FACILITY 
  

 

 CONTENTS 
  

							
	Clause	  	Page	 
			
	1.	 	Definitions and Interpretation	  	 	4	 
			
	2.	 	The Facility	  	 	36	 
			
	3.	 	Purpose	  	 	39	 
			
	4.	 	Conditions of Utilisation	  	 	40	 
			
	5.	 	Utilisation—Revolving Facility Loans	  	 	42	 
			
	6.	 	Utilisation—Letters of Credit	  	 	43	 
			
	7.	 	Letters of Credit	  	 	48	 
			
	8.	 	Dollar Swingline Facility	  	 	55	 
			
	9.	 	Utilisation—Dollar Swingline Loans	  	 	55	 
			
	10.	 	Dollar Swingline Loans	  	 	57	 
			
	11.	 	Euro Swingline Facility	  	 	61	 
			
	12.	 	Utilisation—Euro Swingline Loans	  	 	62	 
			
	13.	 	Euro Swingline Loans	  	 	63	 
			
	14.	 	Optional Currencies	  	 	66	 
			
	15.	 	Repayment of Loans	  	 	67	 
			
	16.	 	Prepayment and Cancellation	  	 	68	 
			
	17.	 	Interest	  	 	74	 
			
	18.	 	Interest Periods	  	 	75	 
			
	19.	 	Changes to the Calculation of Interest	  	 	75	 
			
	20.	 	Fees	  	 	78	 
			
	21.	 	Tax Gross Up and Indemnities	  	 	79	 
			
	22.	 	Increased Costs	  	 	88	 
			
	23.	 	Other Indemnities	  	 	90	 
			
	24.	 	Mitigation by the Lenders	  	 	91	 
			
	25.	 	Costs and Expenses	  	 	92	 
			
	26.	 	Guarantee and Indemnity	  	 	93	 
			
	27.	 	Representations	  	 	97	 
			
	28.	 	Information Undertakings	  	 	103	 
			
	29.	 	Financial Covenants	  	 	109	 
			
	30.	 	General Undertakings	  	 	112	 
			
	31.	 	Events of Default	  	 	118	 
			
	32.	 	Changes to the Lenders	  	 	123	 
			
	33.	 	Changes to the Obligors	  	 	131	 
			
	34.	 	Role of the Agent and the Arranger    	  	 	134	 

  
 - i - 

					
	35.	 	Conduct of Business by the Finance Parties	  	145
			
	36.	 	Sharing among the Finance Parties	  	145
			
	37.	 	Payment Mechanics	  	147
			
	38.	 	Set-off	  	150
			
	39.	 	Notices	  	151
			
	40.	 	Calculations and Certificates	  	153
			
	41.	 	Partial Invalidity	  	153
			
	42.	 	Remedies and Waivers	  	154
			
	43.	 	Amendments and Waivers	  	154
			
	44.	 	Confidential Information	  	156
			
	45.	 	Confidentiality of Funding Rates and Reference Bank Quotations	  	161
			
	46.	 	Counterparts	  	163
			
	47.	 	USA Patriot Act	  	163
			
	48.	 	Governing Law	  	164
			
	49.	 	Enforcement	  	164
			
	Schedule	 	1 The Original Parties	  	166
		
	Part I The Original Obligors	  	166
		
	Part II The Original Lenders	  	166
			
	Schedule	 	2 Conditions Precedent	  	167
		
	Part I Conditions Precedent to Initial Utilisation	  	167
		
	Part II Conditions Precedent required to be delivered by an Additional Obligor	  	169
			
	Schedule	 	3 Requests	  	171
		
	Part I Utilisation Request—Revolving Facility Loans	  	171
		
	Part II Utilisation Request—Dollar Swingline Loans	  	172
		
	Part III Utilisation Request—Euro Swingline Loans	  	173
		
	Part IV Utilisation Request—Letters of Credit	  	174
			
	Schedule	 	4 Form of Transfer Certificate	  	175
			
	Schedule	 	5 Form of Assignment Agreement	  	177
			
	Schedule	 	6 Form of Accession Letter	  	180
			
	Schedule	 	7 Form of Resignation Letter	  	181
			
	Schedule	 	8 Form of Compliance Certificate	  	182
			
	Schedule	 	9 LMA Form of Confidentiality Undertaking	  	184
			
	Schedule	 	10 Timetables	  	189
			
	Schedule	 	11 Form of Letter of Credit	  	195
			
	Schedule	 	12 Facility Approved L/C Beneficiaries	  	199
			
	Schedule	 	13 Form of Commitment Increase Notice	  	200
			
	Schedule	 	14 Form of Further Lender Accession Letter    	  	201

  
 - ii - 

					
	Schedule	 	15 Designated Entities	  	202
			
	Schedule	 	16 Designated Entity Accession Letter	  	203
			
	Schedule	 	17 Form of Extension Request	  	204
			
	Schedule	 	18 Other Benchmarks	  	205
		
	Part I HKD Currencies	  	205
		
	Part II Singapore Dollars	  	207

  
 - iii - 

 THIS AGREEMENT is dated 8 July 2011, as amended pursuant to an amendment agreement dated 23 August 2013
and amended and restated pursuant to amendment and restatement agreements dated 30 September 2015 and 25 June 2018 and made between: 
  

	(1)	WABCO HOLDINGS INC. (the “Company”); 

  

	(2)	THE SUBSIDIARIES of the Company listed in Part I of Schedule 1 (The Original Parties) as original borrowers (together with the Company the
“Original Borrowers”); 

  

	(3)	THE COMPANY as original guarantor (the “Original Guarantor”); 

  

	(4)	BANK OF AMERICA MERRILL LYNCH INTERNATIONAL LIMITED, BNP PARIBAS FORTIS
SA/NV, CITIGROUP GLOBAL MARKETS LIMITED, HSBC BANK PLC, BRUSSELS BRANCH, ING BELGIUM
SA/NV, MUFG BANK, LTD. (FORMERLY KNOWN AS THE BANK OF TOKYO-MITSUBISHI
UFJ, LTD.) and UNICREDIT BANK AG as bookrunners and mandated lead arrangers (whether acting individually or together the “Arranger”); 

 

	(5)	THE FINANCIAL INSTITUTIONS listed in Part II of Schedule 1 (The Original Parties) as lenders (the “Original
Lenders”); 

  

	(6)	CITIGROUP GLOBAL MARKETS LIMITED as coordinator (the “Coordinator”); 

 

	(7)	CITIBANK, N.A., LONDON BRANCH as issuing bank (the “Issuing Bank”); 

  

	(8)	CITIBANK N.A. as dollar swingline lender (the “Original Dollar Swingline Lender”), dollar swingline agent (the
“Dollar Swingline Agent”) and euro swingline lender (the “Original Euro Swingline Lender”); and 

 

	(9)	CITIBANK EUROPE PLC, UK BRANCH (PREVIOUSLY KNOWN AS CITIBANK INTERNATIONAL
LIMITED) as agent of the other Finance Parties (the “Agent”) and euro swingline agent (the “Euro Swingline Agent”). 

IT IS AGREED as follows: 
 SECTION 1

 INTERPRETATION 
  

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	Definitions 

 In this Agreement: 

“1940 Act” has the meaning given to it in Clause 27.20 (Investment companies). 

“Acceptable Bank” means: 
  

	 	(a)	a bank or financial institution which has a rating for its long-term unsecured and non credit-enhanced debt obligations of BBB+ or higher by S&P Global Ratings or Fitch Ratings Ltd or Baa1 or higher by Moody’s
Investors Service Limited or a comparable rating from an internationally recognised credit rating agency; or 

  
 - 4 - 

	 	(b)	or any other bank or financial institution approved by the Agent and the Issuing Bank. 

“Accession Letter” means a document substantially in the form set out in Schedule 6 (Form of
Accession Letter). 
 “Additional Borrower” means a company which becomes an
Additional Borrower in accordance with Clause 33 (Changes to the Obligors). 
 “Additional
Guarantor” means a company which becomes an Additional Guarantor in accordance with Clause 33 (Changes to the Obligors). 

“Additional Obligor” means an Additional Borrower or an Additional Guarantor. 

“Affiliate” means, in relation to any person, a Subsidiary of that person or a Holding Company of that person or any other
Subsidiary of that Holding Company. 
 “Agent’s Spot Rate of Exchange”
means: 
  

	 	(a)	the Agent’s spot rate of exchange; or 

  

	 	(b)	(if the Agent does not have an available spot rate of exchange) any other publicly available spot rate of exchange selected by the Agent (acting reasonably), 

for the purchase of the relevant currency with the Base Currency in the London foreign exchange market at or about 11:00 a.m. on a particular
day. 
 “Amendment and Restatement Agreement” means the amendment and restatement
agreement relating to this Agreement dated 25 June 2018 and entered into between, amongst others, WABCO Holdings Inc. as borrower and guarantor, the subsidiaries of WABCO Holdings Inc. listed therein as borrowers and Citibank Europe plc, UK
Branch (previously known as Citibank International Limited) as agent. 
 “Applicable Margin” means the
percentage rate per annum set out below opposite the corresponding Ratio of Consolidated Net Indebtedness to Consolidated EBITDA, as determined under Clause 29 (Financial Covenants). 

 

					
	Ratio of Consolidated Net Indebtedness to Consolidated EBITDA	  	Applicable Margin	 
	 Greater than or equal to 2.50:1
	  	 	0.85	% 
	 Greater than or equal to 2.00:1 and less than 2.50:1
	  	 	0.70	% 
	 Greater than or equal to 1.50:1 and less than 2.00:1
	  	 	0.50	% 
	 Greater than or equal to 1.00:1 and less than 1.50:1
	  	 	0.40	% 
	 Less than 1.00:1
	  	 	0.30	% 

  
 - 5 - 

 Any change in the Applicable Margin from time to time shall take effect immediately after receipt
by the Agent of the relevant Compliance Certificate delivered pursuant to Clause 28.2 (Compliance Certificate). Immediately upon the occurrence of a Default and while it is continuing, the Applicable Margin shall be 0.85% per annum and no
reduction shall be applied unless and until the Agent is satisfied that such Default has been remedied, whereupon such reduction shall take effect immediately. 

“Assignment Agreement” means an agreement substantially in the form set out in Schedule 5 (Form
of Assignment Agreement) or any other form agreed between the relevant assignor and assignee. 

“Authorisation” means an authorisation, consent, approval, resolution, licence, exemption, filing, notarisation or
registration. 
 “Automatic Acceleration Event” has the meaning given to that term in Clause 31.15 (Acceleration).

 “Availability Period” means the period from the Effective Date to and including the date falling one Month
before the Termination Date. 
 “Available Commitment” means (but without limiting Clause 9.4
(Relationship with the Revolving Facility) or Clause 12.4 (Relationship with the Revolving Facility)) a Lender’s
Commitment minus (subject as set out below): 
  

	 	(a)	the Base Currency Amount of its and any Designated Entity’s participation in any outstanding Utilisations; and 

  

	 	(b)	in relation to any proposed Utilisation, the Base Currency Amount of its and any Designated Entity’s participation in any other Utilisations that are due to be made on or before the proposed Utilisation Date.

 For the purposes of calculating a Lender’s Available Commitment in relation to any proposed Utilisation, that
Lender’s and any Designated Entity’s participation in any Utilisations that are due to be repaid or prepaid on or before the proposed Utilisation Date shall not be deducted from a Lender’s Commitment. 

“Available Dollar Swingline Facility” means (but without limiting Clause 9.4
(Relationship with the Revolving Facility)) the Swingline Amount minus: 
  

	 	(a)	any outstanding Dollar Swingline Loans; 

  

	 	(b)	in relation to any proposed Utilisation under the Dollar Swingline Facility, any other Dollar Swingline Loans that are due to be made under the Dollar Swingline Facility on or before the proposed Utilisation Date;

  
 - 6 - 

	 	(c)	the Base Currency Amount of any outstanding Euro Swingline Loans (except for any Euro Swingline Loans which are due to be repaid or prepaid on or before the proposed Utilisation Date); and 

 

	 	(d)	in relation to any proposed Utilisation under the Euro Swingline Facility, the Base Currency Amount of any other Euro Swingline Loans that are due to be made under the Euro Swingline Facility on or before the proposed
Utilisation Date. 

 For the purposes of calculating the Available Dollar Swingline Facility in relation to any proposed
Utilisation of the Dollar Swingline Facility the amount of any Dollar Swingline Loans and the Base Currency Amount of any Euro Swingline Loans that are due to be repaid on or before the proposed Utilisation Date shall not be deducted from the
Swingline Amount. 
 “Available Euro Swingline Facility” means (but without
limiting Clause 12.4 (Relationship with the Revolving Facility)) the euro equivalent of the Swingline Amount minus: 

 

	 	(a)	the Base Currency Amount of any outstanding Euro Swingline Loans; 

  

	 	(b)	in relation to any proposed Utilisation under the Euro Swingline Facility, the Base Currency Amount of any other Euro Swingline Loans that are due to be made under the Euro Swingline Facility on or before the proposed
Utilisation Date; 

  

	 	(c)	any outstanding Dollar Swingline Loans; and 

  

	 	(d)	in relation to any proposed Utilisation under the Dollar Swingline Facility, any other Dollar Swingline Loans that are due to be made under the Dollar Swingline Facility on or before the proposed Utilisation Date.

 For the purposes of calculating the Available Euro Swingline Facility in relation to any proposed Utilisation of the Euro
Swingline Facility, the amount of any Dollar Swingline Loans and the Base Currency Amount of any Euro Swingline Loans that are due to be repaid on or before the proposed Utilisation Date shall not be deducted from the Swingline Amount. 

“Available Facility” means the aggregate for the time being of each Lender’s Available Commitment. 

“Base Currency” means US Dollars. 

“Base Currency Amount” means, in relation to a Utilisation, the amount specified in the
Utilisation Request delivered by a Borrower for that Utilisation (or, if the amount requested is not denominated in the Base Currency, that amount converted into the Base Currency at the Agent’s Spot Rate of Exchange on the date the Agent
receives the Utilisation Request adjusted to reflect any repayment, prepayment, consolidation or division of the Utilisation and, in the case of a Letter of Credit, as adjusted under Clause 6.9 (Revaluation of Letters
of Credit). 

  
 - 7 - 

 “Belgian Additional Guarantor” means any Additional Guarantor incorporated in
Belgium. 
 “Belgian Additional Obligor” means any Additional Obligor incorporated in Belgium. 

“Belgian Obligor” means any Obligor incorporated in Belgium. 

“Benchmark Rate” means, in relation to any Loan in a Non-LIBOR Currency: 

 

	 	(a)	the applicable Screen Rate as of the Specified Time for the currency of that Loan and for a period equal in length to the Interest Period of that Loan; or 

 

	 	(b)	as otherwise determined pursuant to Clause 19.1 (Unavailability of Screen Rate), 

 and
if, in either case, that rate is less than zero, the Benchmark Rate shall be deemed to be zero. 
 “Borrower” means an
Original Borrower or an Additional Borrower unless it has ceased to be a Borrower in accordance with Clause 33 (Changes to the Obligors). 

“Break Costs” means the amount (if any) by which: 

 

	 	(a)	the interest (excluding Margin) which a Lender should have received for the period from the date of receipt of all or any part of its participation in a Loan or Unpaid Sum to the last day of the current Interest Period
in respect of that Loan or Unpaid Sum, had the principal amount or Unpaid Sum received been paid on the last day of that Interest Period; 

exceeds: 
  

	 	(b)	the amount which that Lender would be able to obtain by placing an amount equal to the principal amount or Unpaid Sum received by it on deposit with a leading bank for a period starting on the Business Day following
receipt or recovery and ending on the last day of the current Interest Period. 

 “Business Day”
means a day (other than a Saturday or Sunday) on which banks are open for general business in London and New York City and: 
  

	 	(a)	(in relation to any date for payment or purchase of euro) any TARGET Day; 

  

	 	(b)	(in relation to any date for payment or purchase of (or the fixing of an interest rate in relation to) a Non-LIBOR Currency) any day specified as such in respect of that currency
in Schedule 18 (Other Benchmarks); or 

  

	 	(c)	(in relation to any date for payment or purchase of a currency other than euro or a Non-LIBOR Currency) the principal financial centre of the country of that currency.

  
 - 8 - 

 “Code” means the U.S. Internal Revenue Code of 1986 (or any successor
legislation thereto) as amended from time to time, and the regulations promulgated and rulings issued thereunder, all as the same may be in effect at such date. 

“Commitment” means: 
  

	 	(a)	in relation to an Original Lender, the amount in the Base Currency set opposite its name under the heading “Commitment” in Part II of Schedule 1 (The Original
Parties) and the amount of any other Commitment transferred to it under this Agreement or assumed by it in accordance with Clause 2.2 (Increase in Total Commitments); and 

 

	 	(b)	in relation to any other Lender, the amount in the Base Currency of any Commitment transferred to it under this Agreement or assumed by it in accordance with Clause 2.2 (Increase in Total
Commitments), 

 to the extent not cancelled, reduced or transferred by it under this Agreement and which in each
case includes such Lender’s commitment in respect of the Swingline Facilities and Letters of Credit. 
 “Commitment
Increase Notice” means a notice substantially in the form set out in Schedule 13 (Form of Commitment Increase Notice). 

“Compliance Certificate” means a certificate substantially in the form set out in Schedule 8 (Form of
Compliance Certificate). 
 “Confidential Information” means all information relating to the
Company, any Obligor, the Group, the Finance Documents or a Facility of which a Finance Party becomes aware in its capacity as, or for the purpose of becoming, a Finance Party or which is received by a Finance Party in relation to, or for the
purpose of becoming a Finance Party under, the Finance Documents or a Facility from either: 
  

	 	(a)	any member of the Group or any of its advisers; or 

  

	 	(b)	another Finance Party, if the information was obtained by that Finance Party directly or indirectly from any member of the Group or any of its advisers, 

 

	 	 	in whatever form, and includes information given orally and any document, electronic file or any other way of representing or recording information which contains or is derived or copied from such information but
excludes: 

  

	 	(i)	information that: 

  

	 	(A)	is or becomes public information other than as a direct or indirect result of any breach by that Finance Party of Clause 44 (Confidential Information); 

 

	 	(B)	is identified in writing at the time of delivery as non-confidential by any member of the Group or any of its advisers; or 

  
 - 9 - 

	 	(C)	is known by that Finance Party before the date the information is disclosed to it in accordance with paragraph (a) or (b) above or is lawfully obtained by that Finance Party after that date, from a source which is,
as far as that Finance Party is aware, unconnected with the Group and which, in either case, as far as that Finance Party is aware, has not been obtained in breach of, and is not otherwise subject to, any obligation of confidentiality; and

  

	 	(ii)	any Funding Rate or Reference Bank Quotation. 

 “Confidentiality
Undertaking” means a confidentiality undertaking substantially in a recommended form of the LMA as set out in Schedule 9 (LMA Form of Confidentiality Undertaking) or in
any other form agreed between the Company and the Agent. 
 “Consolidated Total Assets” has the
meaning given to such term in Clause 29.1 (Financial definitions). 
 “Correspondent Bank” means: 

 

	 	(a)	an Affiliate of the Issuing Bank; or 

  

	 	(b)	any other bank approved by the Issuing Bank in its sole discretion for the purpose of issuing a Letter of Credit in accordance with Clause 7.9 (Use of Correspondent
Banks). 

 “Debtdomain Information” means the documents and information in the form
approved by the Company concerning the Group which, at the Company’s request and on its behalf, was prepared in relation to this transaction and distributed by the Arranger to selected financial institutions on Debtdomain before the date of
this Agreement. 
 “Default” means an Event of Default or any event or circumstance specified in Clause 31 (Events
of Default) which would (with the expiry of a grace period, the giving of notice, the making of any determination under the Finance Documents or any combination of any of the foregoing) be an Event of Default. 

“Defaulting Lender” means any Lender: 
  

	 	(a)	which has failed to make its participation in a Loan available or has notified the Agent or the Company (which has notified the Agent) that it will not make its participation in a Loan available by the Utilisation Date
of that Loan in accordance with Clause 5.4 (Lenders’ participation), Clause 10.1 (Dollar Swingline Loan participation) or Clause 13.1 (Euro Swingline
Loan participation) or has failed to provide cash collateral (or has notified the Issuing Bank or the Company (which has notified the Agent) that it will not provide cash collateral) in accordance with Clause 7.5
(Cash collateral by Non-Acceptable L/C Lender and Borrower’s option to provide cash
cover); 

  

	 	(b)	which has otherwise rescinded or repudiated a Finance Document; or 

  
 - 10 - 

	 	(c)	with respect to which an Insolvency Event has occurred and is continuing, 

  

	 	 	unless, in the case of paragraphs (a) and (c) above: 

  

	 	(i)	its failure to pay or issue a Letter of Credit is caused by: 

  

	 	(A)	administrative or technical error; or 

  

	 	(B)	a Disruption Event; and 

 payment is made within 3 Business Days of its due date; or 

 

	 	(ii)	the Lender is disputing in good faith whether it is contractually obliged to make the payment in question. 

“Designated Entity” has the meaning given to such term in Clause 32.11 (Designated
Entities). 
 “Designated Entity Accession Letter” means a document
substantially in the form set out in Schedule 16 (Designated Entity Accession Letter). 

“Disruption Event” means either or both of: 

 

	 	(a)	a material disruption to those payment or communications systems or to those financial markets which are, in each case, required to operate in order for payments to be made in connection with the Facilities (or
otherwise in order for the transactions contemplated by the Finance Documents to be carried out) which disruption is not caused by, and is beyond the control of, any of the Parties; or 

 

	 	(b)	the occurrence of any other event which results in a disruption (of a technical or systems-related nature) to the treasury or payments operations of a Party preventing that, or any other Party: 

 

	 	(i)	from performing its payment obligations under the Finance Documents; or 

  

	 	(ii)	from communicating with other Parties in accordance with the terms of the Finance Documents, 

(and which (in either such case)) is not caused by, and is beyond the control of, the Party whose operations are disrupted. 

“Dollar Swingline Facility” means the dollar swingline loan sub-facility made available under this Agreement as described in Clause 10 (Dollar Swingline Loans). 

“Dollar Swingline Lender” means: 
  

	 	(a)	the Original Dollar Swingline Lender; or 

  
 - 11 - 

	 	(b)	any other person that becomes a Dollar Swingline Lender after the date of this Agreement in accordance with Clause 2.2 (Increase in Total Commitments) or Clause 32 (Changes to the Lenders),

 which in each case has not ceased to be a Party in accordance with the terms of this Agreement. 

“Dollar Swingline Loan” means a loan made or to be made under the Dollar Swingline Facility or the
principal amount outstanding for the time being of that loan. 
 “Dollar Swingline Proportion”
means in relation to each Lender and a Dollar Swingline Loan, the proportion borne by its Available Commitment to the Available Facility immediately prior to the Utilisation of that Dollar Swingline Loan. 

“Effective Date” has the meaning given to such term in the Amendment and Restatement Agreement. 

“Employee Plan” means an employee pension benefit plan (other than a Multiemployer Plan) subject to the
provisions of Title IV or Section 302 of ERISA, or Section 412 of the Code, and in respect of which an Obligor or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an
“employer” as defined in Section 3(5) of ERISA. 
 “Environmental Claim” means any claim,
proceeding or investigation by any person in respect of any Environmental Law. 
 “Environmental Law” means
any applicable law in any jurisdiction in which any member of the Group conducts business which relates to the pollution or protection of the environment or harm to or the protection of human health or the health of animals or plants. 

“Environmental Permits” means any permit, licence, consent, approval and other authorisation and the filing of
any notification, report or assessment required under any Environmental Law for the operation of the business of any member of the Group conducted on or from the properties owned or used by the relevant member of the Group. 

“ERISA” means, at any date, the United States Employee Retirement Income Security Act of 1974 (and any successor legislation
thereto), as amended from time to time, and the regulations promulgated and rulings issued thereunder, all as the same may be in effect at such date. 

“ERISA Affiliate” means any person that for purposes of Title I and Title IV of ERISA and Section 412 of
the Code would be deemed at any relevant time to be a single employer with an Obligor, pursuant to Section 414(b), (c), (m) or (o) of the Code or Section 4001 of ERISA. 

“ERISA Event” means: 
  

	 	(a)	any reportable event, as defined in Section 4043 of ERISA, with respect to an Employee Plan, as to which PBGC has not by regulation waived the requirement of Section 4043(a) of ERISA that it be notified of
such event; 

  
 - 12 - 

	 	(b)	the filing of a notice of intent to terminate any Employee Plan, if such termination would require material additional contributions in order to be considered a standard termination within the meaning of
Section 4041(b) of ERISA, the filing under Section 4041(c) of ERISA of a notice of intent to terminate any Employee Plan or the termination of any Employee Plan under Section 4041(c) of ERISA; 

 

	 	(c)	the institution of proceedings under Section 4042 of ERISA by the PBGC for the termination of, or the appointment of a trustee to administer, any Employee Plan; 

 

	 	(d)	any failure by any Employee Plan to satisfy the minimum funding standard (within the meaning of Section 412 of the Code or Section 302 of ERISA) applicable to such Employee Plan, in each case whether or not
waived; 

  

	 	(e)	the failure to make a required contribution to any Employee Plan that would reasonably be expected to result in the imposition of an encumbrance under Section 412 of the Code, or a filing under Section 412(c)
of the Code or Section 302(c) of ERISA of any request for a minimum funding variance, with respect to any Employee Plan or Multiemployer Plan; 

  

	 	(f)	an engagement in a non-exempt prohibited transaction within the meaning of Section 4975 of the Code or Section 406 of ERISA; 

 

	 	(g)	the complete or partial withdrawal of any Obligor or any ERISA Affiliate from any Employee Plan or a Multiemployer Plan; 

  

	 	(h)	an Obligor or an ERISA Affiliate incurring any liability under Title IV of ERISA with respect to any Employee Plan (other than premiums due and not delinquent under Section 4007 of ERISA); 

 

	 	(i)	a determination that any Employee Plan is, or is expected to be, in “at risk” status (as defined in Section 303(i)(4) of ERISA or Section 430(i)(4) of the Code; 

 

	 	(j)	the existence of an Unfunded Pension Liability; 

  

	 	(k)	the conditions for the imposition of a lien under Section 303(k) of ERISA or Section 430(k) of the Code with respect to any Employee Plan have been met; and/or 

 

	 	(l)	the receipt by an Obligor or any of its ERISA Affiliates of any notice of the imposition of withdrawal liability or of a determination that a Multiemployer Plan is, or is expected to be, in “endangered” or
“critical” status within the meaning of Section 305 of ERISA. 

 “EURIBOR” means in relation to
any Loan in euro: 
  

	 	(a)	the applicable Screen Rate as of the Specified Time for euro and for a period equal in length to the Interest Period of that Loan; or 

  
 - 13 - 

	 	(b)	as otherwise determined pursuant to Clause 19.1 (Unavailability of Screen Rate), 

 and
if, in either case, that rate is less than zero, EURIBOR shall be deemed to be zero. 
 “Euro Swingline
Facility” means the euro swingline loan sub-facility made available under this Agreement as described in Clause 13 (Euro Swingline Loans). 

“Euro Swingline Lender” means: 
  

	 	(a)	the Original Euro Swingline Lender; or 

  

	 	(b)	any other person that becomes a Euro Swingline Lender after the date of this Agreement in accordance with Clause 2.2 (Increase in Total Commitments) or Clause 32
(Changes to the Lenders), 

 which in each case has not ceased to be a Party in accordance with the terms
of this Agreement. 
 “Euro Swingline Loan” means a loan made or to be made under the Euro
Swingline Facility or the principal amount outstanding for the time being of that loan. 
 “Euro Swingline
Proportion” means in relation to each Lender and a Euro Swingline Loan, the proportion borne by its Available Commitment to the Available Facility immediately prior to the Utilisation of that Euro Swingline Loan. 

“Event of Default” means any event or circumstance specified as such in Clause 31
(Events of Default). 
 “Expiry Date” means, for a Letter of Credit, the last day of its
Term. 
 “Extension Option Date” means the First Extension Option Date or the Second Extension Option Date. 

“Extension Request” means the First Extension Request or the Second Extension Request. 

“Facility” means the Revolving Facility, the Dollar Swingline Facility or the Euro Swingline Facility. 

“Facility Approved Currency” means euro, Singapore Dollars or Hong Kong Dollars. 

“Facility Approved L/C Beneficiary” means one of the persons set out in Schedule 12
(Facility Approved L/C Beneficiaries). 
 “Facility Office” means, in respect of a Lender
or the Issuing Bank, the office or offices notified by that Lender or Issuing Bank to the Agent in writing on or before the date it becomes a Lender or the Issuing Bank (or, following that date, by not less than 5 Business Days’ written notice)
as the office or offices through which it will perform its obligations under this Agreement. 

  
 - 14 - 

 “Fallback Interest Period” means one week or, if the Loan is in a Non-LIBOR Currency, the period specified as such in respect of that currency in Schedule 18 (Other Benchmarks), or, in each case, such other period as the Agent and the Company may agree. 

“FATCA” means: 
  

	 	(a)	sections 1471 to 1474 of the Code or any associated regulations; 

  

	 	(b)	any treaty, law or regulation of any other jurisdiction, or relating to an intergovernmental agreement between the U.S. and any other jurisdiction, which (in either case) facilitates the implementation of any law or
regulation referred to in paragraph (a) above; or 

  

	 	(c)	any agreement pursuant to the implementation of any treaty, law or regulation referred to in paragraph (a) or (b) above with the U.S. Internal Revenue Service, the U.S. government or any governmental or taxation
authority in any other jurisdiction. 

  

	 	“FATCA	Application Date” means: 

  

	 	(a)	in relation to a “withholdable payment” described in section 1473(1)(A)(i) of the Code (which relates to payments of interest and certain other payments from sources within the U.S.), 1 July 2014;

  

	 	(b)	in relation to a “withholdable payment” described in section 1473(1)(A)(ii) of the Code (which relates to “gross proceeds” from the disposition of property of a type that can produce interest from
sources within the U.S.), 1 January 2019; or 

  

	 	(c)	in relation to a “passthru payment” described in section 1471(d)(7) of the Code not falling within paragraph (a) or (b) above, 1 January 2019, 

or, in each case, such other date from which such payment may become subject to a deduction or withholding required by FATCA as a result of any
change in FATCA after the date of this Agreement. 
 “FATCA Deduction” means a deduction or withholding from a
payment under a Finance Document required by FATCA. 
 “FATCA Exempt Party” means a Party that
is entitled to receive payments free from any FATCA Deduction. 
 “Federal Funds Rate” means, in
relation to any day, the rate per annum equal to: 
  

	 	(a)	the rate on overnight federal funds transactions calculated by the Federal Reserve Bank of New York as the federal funds effective rate as published for that day (or, if that day is not a New York Business Day, for the
immediately preceding New York Business Day) by the Federal Reserve Bank of New York; or 

  
 - 15 - 

	 	(b)	if a rate is not so published for any day which is a New York Business Day, the average of the quotations for that day on overnight federal funds transactions received by the Dollar Swingline Agent from three depository
institutions of recognised standing selected by the Dollar Swingline Agent, 

 and if, in either case, that rate is less than
zero, the Federal Funds Rate shall be deemed to be zero. 
 “Fee Letter” means: 

 

	 	(a)	any letter or letters dated on or about the date of this Agreement between the Arranger and the Company (or the Agent and the Company) setting out any of the fees referred to in Clause 20 (Fees);

  

	 	(b)	any agreement setting out fees payable to a Finance Party referred to in Clause 7.2 (Fee payable in respect of Letters of Credit); and 

 

	 	(c)	any letter dated on or about the date of the Amendment and Restatement Agreement between the Arranger, the Coordinator, the Issuing Bank or the Agent and the Company setting out any of the fees referred to in the
Amendment and Restatement Agreement. 

 “Finance Document” means this Agreement, the Amendment
and Restatement Agreement, any Fee Letter, any Accession Letter, any Further Lender Accession Letter, any Designated Entity Accession Letter, any Commitment Increase Notice, any Resignation Letter and any other document designated as a “Finance
Document” by the Agent and the Company. 
 “Finance Party” means the Agent, the Arranger, the
Coordinator, a Lender, a Swingline Lender, a Swingline Agent or the Issuing Bank. 
 “Financial Indebtedness”
means, without duplication, any indebtedness for or in respect of: 
  

	 	(a)	moneys borrowed; 

  

	 	(b)	any amount raised by acceptance under any acceptance credit facility or dematerialised equivalent; 

  

	 	(c)	any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan stock or any similar instrument; 

 

	 	(d)	the amount of any liability in respect of any lease or hire purchase contract or rental agreement which would, in accordance with U.S. GAAP, be treated as a balance sheet liability (other than any liability in respect
of a lease or hire purchase contract or rental agreement which would, in accordance with U.S. GAAP in force as at the Effective Date, have been treated as an operating lease); 

 

	 	(e)	receivables sold or discounted (other than any receivables to the extent they are sold on a non-recourse basis); 

  
 - 16 - 

	 	(f)	any amount raised under any other transaction (including any forward sale or purchase agreement) of a type not referred to in any other paragraph of this definition having the commercial effect of a borrowing;

  

	 	(g)	any derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price (and, when calculating the value of any derivative transaction, only the negative marked to
market value (or, if actual amount is due as a result of the termination or close-out of that derivative transaction, that amount) shall be taken into account); 

 

	 	(h)	any counter-indemnity obligation in respect of a guarantee, indemnity, bond, standby or documentary letter of credit or any other instrument issued by a bank or financial institution; 

 

	 	(i)	any amount raised by the issue of redeemable shares which are redeemable before the Termination Date; 

  

	 	(j)	any amount of any liability under an advance or deferred purchase agreement if one of the primary reasons behind the entry into this agreement is to raise finance; and 

 

	 	(k)	(without double counting) the amount of any liability in respect of any guarantee or indemnity for any of the items referred to in paragraphs (a) to (j) above. 

“Financial Officer” means, in relation to the Company, the chief financial officer, the principal accounting
officer, the treasurer or the assistant treasurer of the Company or, in relation to any other Obligor, any of the chief financial officer, the principal accounting officer, the treasurer or the assistant treasurer of the Company duly authorised by
such Obligor. 
 “First Extended Termination Date” means the date falling 6 years
after the Effective Date. 
 “First Extension Option Date” means the first anniversary of the date of the Effective Date.

 “First Extension Request” has the meaning given to that term in Clause 2.3
(Extension option). 
 “Further Lender Accession Letter”
means a document substantially in the form set out in Schedule 14 (Form of Further Lender Accession Letter). 

“Funding Rate” means any individual rate notified by a Lender to the Agent pursuant to paragraph (a)(ii) of
Clause 19.4 (Cost of funds), paragraph (a)(ii) of Clause 10.7 (Costs of funds – Dollar Swingline Facility), paragraph (b)(ii) of Clause 10.7 (Costs of
funds – Dollar Swingline Facility) or paragraph (a)(ii) of Clause 13.4 (Interest). 

“GAAP” means generally accepted accounting principles in the applicable jurisdiction. 

“Group” means the Company and its Subsidiaries for the time being. 

  
 - 17 - 

 “Guarantor” means an Original Guarantor or an Additional Guarantor, unless it
has ceased to be a Guarantor in accordance with Clause 33 (Changes to the Obligors). 
 “Historic Screen
Rate” means, in relation to any Loan, the most recent applicable Screen Rate for the currency of that Loan and for a period equal in length to the Interest Period of that Loan and which is as of a day which is no more than one
Business Day before the Quotation Day. 
 “Holding Company” means, in relation to a person, any other person
in respect of which it is a Subsidiary. 
 “Increase Effective Date” means, in relation to a
Further Lender Accession Letter or a Commitment Increase Notice, the later of the proposed effective date of the increase in Commitments specified in such document and the date on which such document is executed by the Agent. 

“Insolvency Event” in relation to an entity means that the entity: 

 

	 	(a)	is dissolved (other than pursuant to a consolidation, amalgamation or merger); 

  

	 	(b)	becomes insolvent or is unable to pay its debts or fails or admits in writing its inability generally to pay its debts as they become due; 

 

	 	(c)	makes a general assignment, arrangement or composition with or for the benefit of its creditors; 

  

	 	(d)	institutes or has instituted against it, by a regulator, supervisor or any similar official with primary insolvency, rehabilitative or regulatory jurisdiction over it in the jurisdiction of its incorporation or
organisation or the jurisdiction of its head or home office, a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors’ rights, or a petition
is presented for its winding-up or liquidation by it or such regulator, supervisor or similar official; 

  

	 	(e)	has instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors’ rights, or a petition is
presented for its winding-up or liquidation, and, in the case of any such proceeding or petition instituted or presented against it, such proceeding or petition is instituted or presented by a person or entity
not described in paragraph (d) above and: 

  

	 	(i)	results in a judgment of insolvency or bankruptcy or the entry of an order for relief or the making of an order for its winding-up or liquidation; or 

 

	 	(ii)	is not dismissed, discharged, stayed or restrained in each case within 30 days of the institution or presentation thereof; 

  

	 	(f)	has a resolution passed for its winding-up, official management or liquidation (other than pursuant to a consolidation, amalgamation or merger); 

  
 - 18 - 

	 	(g)	seeks or becomes subject to the appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar official for it or for all or substantially all its assets (other than
for so long as it is required by law or regulation not to be publicly disclosed, any such appointment which is to be made, or is made, by a person or entity described in paragraph (d) above); 

 

	 	(h)	has a secured party take possession of all or substantially all its assets or has a distress, execution, attachment, sequestration or other legal process levied, enforced or sued on or against all or substantially all
its assets and such secured party maintains possession, or any such process is not dismissed, discharged, stayed or restrained, in each case within 30 days thereafter; 

 

	 	(i)	causes or is subject to any event with respect to it which, under the applicable laws of any jurisdiction, has an analogous effect to any of the events specified in paragraphs (a) to (h) above; or

  

	 	(j)	takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the foregoing acts. 

“Interest Period” means, in relation to a Revolving Facility Loan, each period determined in accordance with
Clause 18 (Interest Periods) and, in relation to an Unpaid Sum, each period determined in accordance with Clause 17.3 (Default interest). 

“Interpolated Historic Screen Rate” means, in relation to any Loan, the rate
(rounded to the same number of decimal places as the two relevant Screen Rates) which results from interpolating on a linear basis between: 
  

	 	(a)	the most recent applicable Screen Rate for the longest period (for which that Screen Rate is available) which is less than the Interest Period of that Loan; and 

 

	 	(b)	the most recent applicable Screen Rate for the shortest period (for which that Screen Rate is available) which exceeds the Interest Period of that Loan, 

each for the currency of that Loan and each of which is as of a day which is no more than one Business Day before the Quotation Day. 

“Interpolated Screen Rate” means, in relation to any Loan, the rate (rounded to the same number of
decimal places as the two relevant Screen Rates) which results from interpolating on a linear basis between: 
  

	 	(a)	the applicable Screen Rate for the longest period (for which that Screen Rate is available) which is less than the Interest Period of that Loan; and 

 

	 	(b)	the applicable Screen Rate for the shortest period (for which that Screen Rate is available) which exceeds the Interest Period of that Loan, 

each as of the Specified Time for the currency of that Loan. 

“Intra-Group Reorganisation” means: 

  
 - 19 - 

	 	(a)	a solvent reorganisation involving the business or assets of, or shares of (or equivalent ownership interests in), any member of the Group where all of the business, assets and shares of (or equivalent ownership
interests in) the relevant member of the Group continue to be owned directly or indirectly by the Company in the same or a greater percentage as prior to such reorganisation, save for the shares of (or equivalent ownerships in) any member of the
Group which has been merged into another member of the Group; or 

  

	 	(b)	any other reorganisation involving one or more members of the Group approved by the Agent (acting on the instructions of the Majority Lenders). 

“IRS” means the U.S. Internal Revenue Service or any successor thereto. 

“L/C Proportion” means, in relation to a Lender in respect of any Letter of Credit, the proportion (expressed as
a percentage) borne by that Lender’s Available Commitment to the Available Facility immediately prior to the issue of that Letter of Credit, adjusted to reflect any assignment or transfer under this Agreement to or by that Lender. 

“Lender” means: 
  

	 	(a)	any Original Lender; and 

  

	 	(b)	any bank, financial institution, trust, fund or other entity which has become a Party as a “Lender” in accordance with Clause 2.2 (Increase in Total
Commitments) or Clause 32 (Changes to the Lenders), 

 which in each case has not ceased to be
a Party as such in accordance with the terms of this Agreement. 
 “Letter of Credit” means a
letter of credit or bank guarantee substantially in the form set out in Schedule 11 (Form of Letter of Credit) or in any other form requested by a Borrower and agreed by the Agent and
the Issuing Bank. 
 “LIBOR” means, in relation to any Loan: 

 

	 	(a)	the applicable Screen Rate as of the Specified Time for the currency of that Loan and for a period equal in length to the Interest Period of that Loan; or 

 

	 	(b)	as otherwise determined pursuant to Clause 19.1 (Unavailability of Screen Rate), 

and if, in either case, that rate is less than zero, LIBOR shall be deemed to be zero. 

“LMA” means the Loan Market Association. 

“Loan” means a Revolving Facility Loan, a Dollar Swingline Loan or a Euro Swingline Loan. 

“Majority Lenders” means: 

  
 - 20 - 

	 	(a)	if there are no Utilisations then outstanding, a Lender or Lenders whose Commitments aggregate more than 66 2/3% of the Total Commitments (or, if the Total Commitments have been reduced to zero, aggregated more than 66
2/3% of the Total Commitments immediately prior to the reduction); or 

  

	 	(b)	at any other time, a Lender or Lenders whose participations in the Utilisations then outstanding aggregate more than 66 2/3% of all the Utilisations then outstanding. 

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

 “Material Adverse Effect” means a material adverse effect on: 

 

	 	(a)	the business, operations, property or financial condition of the Group taken as a whole; 

  

	 	(b)	the ability of an Obligor to perform its payment obligations under the Finance Documents; 

  

	 	(c)	the ability of the Company to comply with the financial covenants under the Finance Documents; or 

  

	 	(d)	the validity or enforceability of the Finance Documents or the material rights or remedies of any Finance Party under the Finance Documents. 

“Material Company” means, at any time, a Subsidiary of the Company which: 

 

	 	(a)	is an Obligor; or 

  

	 	(b)	has accounted for five per cent. or more of Consolidated EBITDA (as defined in Clause 29 (Financial Covenants)) for the period of four fiscal quarters most recently ended; and/or 

 

	 	(c)	together with its own Subsidiaries, has accounted for 15 per cent. or more in aggregate of Consolidated EBITDA for the period of four fiscal quarters most recently ended. 

The application of the conditions set out in paragraphs (b) and (c) of this definition to Subsidiaries of the Company shall be determined
by reference to the latest audited financial statements of the Group (and, in the case of any Subsidiary of the Company having a functional currency other than US Dollars, the share of Consolidated EBITDA of such Subsidiary shall be converted into
US Dollars at the rates used in preparing the consolidated balance sheets of the Company included in the latest audited financial statements). 

If a Subsidiary has been acquired since the date as at which the latest audited consolidated financial statements of the Group were prepared,
the financial statements shall be adjusted in order to take into account the acquisition of that Subsidiary. Confirmation of the Company, acting in good-faith, that a Subsidiary is or is not a Material Company shall, in the absence of manifest
error, be conclusive and binding on all Parties. 

  
 - 21 - 

 “Month” means a period starting on one day in a calendar month and ending on the
numerically corresponding day in the next calendar month, except that: 
  

	 	(a)	if the numerically corresponding day is not a Business Day, that period shall end on the next Business Day in that calendar month in which that period is to end if there is one, or if there is not, on the immediately
preceding Business Day; and 

  

	 	(b)	if there is no numerically corresponding day in the calendar month in which that period is to end, that period shall end on the last Business Day in that calendar month. 

The above rules will only apply to the last Month of any period. 

“Multiemployer Plan” means a “multiemployer plan” (as defined in Section (3)(37) of ERISA) that is
subject to Title IV of ERISA that is contributed to for any employees of an Obligor or any ERISA Affiliate. 
 “New
Lender” has the meaning given to that term in Clause 32 (Changes to the Lenders). 

“New York Business Day” means a day (other than a Saturday or Sunday) on which banks
are open for general business in New York City. 
 “Non-Acceptable L/C
Lender” means a Lender which: 
  

	 	(a)	is not an Acceptable Bank within the meaning of paragraph (a) of the definition of “Acceptable Bank” (other than a Lender which the Issuing Bank has agreed is acceptable to it notwithstanding that fact);

  

	 	(b)	is a Defaulting Lender; or 

  

	 	(c)	has failed to make (or has notified the Agent that it will not make) a payment to be made by it under Clause 7.4 (Indemnities) or Clause 34.12 (Lenders’ indemnity to
the Agent) or any other payment to be made by it under the Finance Documents to or for the account of any other Finance Party in its capacity as Lender by the due date for payment. 

“Non-Cooperative Jurisdiction” means with respect to any payment made by
a Belgian Obligor, a tax haven country, a low-tax jurisdiction or a non-cooperative jurisdiction, within the meaning of Article 307, §1/2 of the Belgian Income Tax
Code 1992 or any successor provision. 
 “Non-LIBOR Currency” means each of
Singapore Dollars and Hong Kong Dollars. 
 “Obligor” means a Borrower or a Guarantor. 

“Optional Currency” means any Facility Approved Currency and any other currency (other than the Base Currency)
which complies with the conditions set out in Clause 4.3 (Conditions relating to Optional Currencies). 

“Original Financial Statements” means: 

  
 - 22 - 

	 	(a)	in relation to the Company, the audited consolidated financial statements of the Group for the financial year ended 31 December 2010; and 

 

	 	(b)	in relation to each Original Obligor other than the Company, its audited financial statements for its financial year ended 31 December 2010. 

“Original Obligor” means an Original Borrower or an Original Guarantor. 

“Original Termination Date” means the date falling five years after the Effective Date. 

“Overall Commitment” of a Lender means: 

 

	 	(a)	its Commitment; or 

  

	 	(b)	in the case of a Dollar Swingline Lender or a Euro Swingline Lender which does not have a Commitment, the Commitment of a Lender which is its Designated Entity. 

“Participating Member State” means any member state of the European Union that has the euro as its
lawful currency in accordance with legislation of the European Union relating to Economic and Monetary Union. 
 “Party”
means a party to this Agreement. 
 “PBGC” means the U.S. Pension Benefit Guaranty Corporation, or any entity succeeding to
all or any of its functions under ERISA. 
 “Prime Rate” means in respect of any Dollar Swingline Loan for any
day, the rate per annum which is the published prime rate of Citibank N.A. in New York City in force at the Specified Time displayed on such web page as the Agent shall notify the Company from time to time. 

“Quasi-Security” has the meaning given to it in Clause 30.3 (Negative pledge). 

“Quotation Day” means, in relation to any period for which an interest rate is to be determined: 

 

	 	(a)	(if the currency is euro) two TARGET Days before the first day of that period; 

  

	 	(b)	(for any other currency (other than a Non-LIBOR Currency)) 2 Business Days before the first day of that period, 

(unless market practice differs in the Relevant Market for that currency, in which case the Quotation Day for that currency will be determined
by the Agent in accordance with market practice in the Relevant Market (and if quotations would normally be given on more than one day, the Quotation Day will be the last of those days)); or 

 

	 	(c)	(if the currency is a Non-LIBOR Currency) the day specified as such in respect of that currency in Schedule 18 (Other Benchmarks). 

  
 - 23 - 

 “Reference Bank Quotation” means any quotation supplied to the Agent or a
Swingline Agent by a Reference Bank. 
 “Reference Bank Rate” means: 

 

	 	(a)	the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Agent at its request by the Reference Banks: 

 

	 	(i)	in relation to LIBOR as either: 

  

	 	(A)	if: 

  

	 	(1)	the Reference Bank is a contributor to the applicable Screen Rate; and 

  

	 	(2)	it consists of a single figure, 

 the rate (applied to the relevant Reference Bank and the
relevant currency and period) which contributors to the applicable Screen Rate are asked to submit to the relevant administrator; or 
  

	 	(B)	in any other case, the rate at which the relevant Reference Bank could fund itself in the relevant currency for the relevant period with reference to the unsecured wholesale funding market; or 

 

	 	(ii)	in relation to EURIBOR: 

  

	 	(A)	(other than where paragraph (B) below applies) as the rate at which the relevant Reference Bank believes one prime bank is quoting to another prime bank for interbank term deposits in euro within the Participating
Member States for the relevant period; or 

  

	 	(B)	if different, as the rate (if any and applied to the relevant Reference Bank and the relevant period) which contributors to the applicable Screen Rate are asked to submit to the relevant administrator; or

  

	 	(iii)	in relation to a Benchmark Rate for a Loan in a Non-LIBOR Currency, the rate specified as such in respect of that currency in Schedule 18 (Other Benchmarks).

 “Reference Banks” means such entities as may be appointed by the Agent in consultation with
the Company provided that such entities have accepted such appointment. 
 “Register” has the meaning given to it in Clause
32.7 (The Register). 
 “Regulations T, U and X” means,
respectively, Regulations T, U and X of the Board of Governors of the Federal Reserve System of the United States (or any successor). 

  
 - 24 - 

 “Related Fund” in relation to a fund (the “first fund”), means
a fund which is managed or advised by the same investment manager or investment adviser as the first fund or, if it is managed by a different investment manager or investment adviser, a fund whose investment manager or investment adviser is an
Affiliate of the investment manager or investment adviser of the first fund. 
 “Relevant Market” means in
relation to euro, the European interbank market, in relation to a Non-LIBOR Currency, the market specified as such in respect of that currency in Schedule 18 (Other Benchmarks) and, in
relation to any other currency, the London interbank market. 
 “Relevant Nominating Body” means
any applicable central bank, regulator or other supervisory authority or a group of them, or any working group or committee sponsored or chaired by, or constituted at the request of, any of them or the Financial Stability Board. 

“Renewal Request” means a written notice delivered to the Agent in accordance with Clause 6.7 (Renewal
of a Letter of Credit). 
 “Repeating Representations” means each of the
representations set out in Clauses 27.1 (Status) to 27.6 (Governing law and enforcement), Clause 27.8 (No default), paragraph (c) of Clause 27.9 (No
misleading information), Clause 27.10 (Financial statements), Clause 27.11 (Pari passu ranking), Clause 27.12 (No proceedings
pending or threatened), 27.15 (Material Adverse Effect), Clause 27.17 (Sanctions and anti-corruption) and Clauses 27.18 (ERISA
and Multiemployer Plans) to 27.23 (No listed securities). 

“Replacement Benchmark” means a benchmark rate which is: 

 

	 	(a)	formally designated, nominated or recommended as the replacement for a Screen Rate by: 

  

	 	(i)	the administrator of that Screen Rate (provided that the market or economic reality that such benchmark rate measures is the same as that measured by that Screen Rate); or 

 

	 	(ii)	any Relevant Nominating Body, 

 and if replacements have, at the relevant time, been formally
designated, nominated or recommended under both paragraphs, the “Replacement Benchmark” will be the replacement under paragraph (ii) above; 
  

	 	(b)	in the opinion of the Majority Lenders and the Company, generally accepted in the international or any relevant domestic syndicated loan markets as the appropriate successor to that Screen Rate; or 

 

	 	(c)	in the opinion of the Majority Lenders and the Company, an appropriate successor to a Screen Rate. 

“Replacement Lender” has the meaning given to such term in paragraph (d) of Clause 16.5 (Right
of replacement or repayment and cancellation in relation to a single Lender). 

  
 - 25 - 

 “Representative” means any delegate, agent, manager, administrator, nominee,
attorney, trustee or custodian. 
 “Resignation Letter” means a letter substantially in the form set out in
Schedule 7 (Form of Resignation Letter). 
 “Restricted Party” means a
person that is: 
  

	 	(a)	listed on, or owned or controlled by a person listed on, a Sanctions List, or a person acting on behalf or at the direction of such a person; 

 

	 	(b)	located in, resident in or organised in a Sanctioned Country, or is owned or controlled by, or acting on behalf or at the direction of a person located in, resident in or organised in a Sanctioned Country; or

  

	 	(c)	otherwise a subject of Sanctions. 

 “Revolving Facility” means
the revolving loan facility made available under this Agreement as described in Clause 2.1 (The Revolving Facility). 

“Revolving Facility Loan” means a loan made or to be made under the Revolving Facility or the
principal amount outstanding for the time being of that loan. 
 “Rollover Loan” means one or more
Revolving Facility Loans (but excluding Swingline Loans): 
  

	 	(a)	made or to be made on the same day that (i) a maturing Revolving Facility Loan is due to be repaid or (ii) a demand by the Agent pursuant to a drawing in respect of a Letter of Credit is due to be made;

  

	 	(b)	the aggregate amount of which is equal to or less than (i) the amount of the maturing Revolving Facility Loan or (ii) the amount of the relevant claim in respect of that Letter of Credit; 

 

	 	(c)	in the same currency as (i) the maturing Revolving Facility Loan (unless it arose as a result of the operation of Clause 14.2 (Unavailability of a currency)) or (ii) the relevant claim in
respect of that Letter of Credit; and 

  

	 	(d)	made or to be made to the same Borrower for the purpose of (i) refinancing that maturing Revolving Facility Loan or (ii) satisfying the relevant claim in respect of that Letter of Credit. 

“Sanctions” means any trade, economic or financial sanctions laws, regulations, embargoes or restrictive measures
administered, enacted, imposed or enforced by a Sanctions Authority. 
 “Sanctions Authority” means: 

 

	 	(a)	the Security Council of the United Nations; 

  

	 	(b)	the United States of America; 

  
 - 26 - 

	 	(c)	Japan; 

  

	 	(d)	the European Union; 

  

	 	(e)	the United Kingdom; 

  

	 	(f)	the French Republic; 

  

	 	(g)	the member states of the European Union; and 

  

	 	(h)	the governments and official institutions or agencies of any of paragraphs (a) to (g) above, including OFAC, the U.S. Department of State and Her Majesty’s Treasury; and 

 

	 	(i)	any other sanctions authorities applicable to any Obligor or any of its Affiliates. 

“Sanctioned Country” means a country or territory which is, or whose government is, at any time the subject or
target of country-wide or territory-wide Sanctions. 
 “Sanctions List” means the Specially Designated
Nationals and Blocked Persons, the Sectoral Sanctions Identifications List and the List of Foreign Sanctions Evaders maintained by OFAC, the Consolidated List of Financial Sanctions Targets and the Investment Ban List maintained by Her
Majesty’s Treasury, or any similar list maintained by, or public announcement of a Sanctions designation made by, a Sanctions Authority, each as amended, supplemented or substituted from time to time. 

“Screen Rate” means: 
  

	 	(a)	in relation to LIBOR, the London interbank offered rate administered by ICE Benchmark Administration Limited (or any other person which takes over the administration of that rate) for the relevant currency and period
displayed (before any correction, recalculation or republication by the administrator) on pages LIBOR01 or LIBOR02 of the Thomson Reuters screen (or any replacement Thomson Reuters page which displays that rate); and 

 

	 	(b)	in relation to EURIBOR, the euro interbank offered rate administered by the European Money Markets Institute (or any other person which takes over the administration of that rate) for the relevant period displayed
(before any correction, recalculation or republication by the administrator) on page EURIBOR01 of the Thomson Reuters screen (or any replacement Thomson Reuters page which displays that rate), 

or, in each case, on the appropriate page of such other information service which publishes that rate from time to time in place of Thomson
Reuters. If such page or service ceases to be available, the Agent may specify another page or service displaying the relevant rate after consultation with the Company; and 
  

	 	(c)	in relation to a Benchmark Rate, the rate specified as such in respect of the relevant currency in Schedule 18 (Other Benchmarks). 

  
 - 27 - 

 “SEC” means the United States Securities and Exchange Commission or any
successor thereto. 
 “Second Extended Termination Date” means the date falling 7
years after the Effective Date. 
 “Second Extension Option Date” means the second anniversary of the Effective Date. 

“Second Extension Request” has the meaning given to that term in Clause 2.3 (Extension
option). 
 “Securitisation Transaction” means: 

 

	 	(a)	any transfer of accounts receivable or interests therein: 

  

	 	(i)	to a trust, partnership, corporation or other entity (other than a Subsidiary), which transfer or pledge is funded by such entity in whole or in part by the issuance to one or more lenders or investors of indebtedness
or other securities that are to receive payments principally from the cash flow derived from such accounts receivable or interests in accounts receivable; or 

  

	 	(ii)	directly to one or more investors or other purchasers (other than any Subsidiary); or 

  

	 	(b)	any transaction in which the Company or a Subsidiary incurs Financial Indebtedness or other obligations secured by liens on accounts receivable. 

The “amount” of any Securitisation Transaction shall be deemed at any time to be: 

 

	 	(i)	in the case of a transaction described in paragraph (a) above, the aggregate uncollected amount of the accounts receivable transferred pursuant to such Securitisation Transaction, net of any such accounts
receivable that have been written off as uncollectible; and 

  

	 	(ii)	in the case of a transaction described in paragraph (b) above, the aggregate outstanding principal amount of the Financial Indebtedness secured by liens on accounts receivable incurred pursuant to such
Securitisation Transaction or, if less, the aggregate uncollected amount of the accounts receivable subject to such liens. 

For purposes of this definition, accounts receivable shall include any and all payments owing to the Company or any of its Subsidiaries by any
and all Obligors under long term contracts in respect of goods or other property sold or leased or services rendered. 

“Security” means a mortgage, charge, pledge, lien or other security interest securing any obligation of any person or any
other agreement or arrangement having a similar effect. 

  
 - 28 - 

 “Specified Time” means a day or time determined in accordance with Schedule 10
(Timetables). 
 “Subsequent Letter of Credit” has the meaning given to it in Clause 7.9 (Use of Correspondent
Banks). 
 “Subsidiary” means any person (referred to as the “first person”) in respect
of which another person (referred to as the “second person”): 
  

	 	(a)	holds a majority of the voting rights in that first person or has the right under the constitution of the first person to direct the overall policy of the first person or alter the terms of its constitution;

  

	 	(b)	is a member of that first person and has the right to appoint or remove a majority of its board of directors or equivalent administration, management or supervisory body; 

 

	 	(c)	has the right to exercise a dominant influence (which must include the right to give directions with respect to operating and financial policies of the first person which its directors are obliged to comply with whether
or not for its benefit) over the first person by virtue of provisions contained in the articles (or equivalent) of the first person or by virtue of a control contract which is in writing and is authorised by the articles (or equivalent) of the first
person and is permitted by the law under which such first person is established; 

  

	 	(d)	is a member of that first person and controls alone, pursuant to an agreement with other shareholders or members, a majority of the voting rights in the first person or the rights under its constitution to direct the
overall policy of the first person or alter the terms of its constitution; 

  

	 	(e)	has the power to exercise, or actually exercises dominant influence or control over the first person; or 

  

	 	(f)	together with the first person are managed on a unified basis, 

 and for the purposes of this
definition, a person shall be treated as a member of another person if any of that person’s Subsidiaries is a member of that other person or, if any shares in that other person are held by a person acting on behalf of it or any of its
Subsidiaries. A subsidiary undertaking shall include any person the shares or ownership interests in which are subject to Security and where the legal title to the shares or ownership interests so secured are registered in the name of the secured
party or its nominee pursuant to such Security. 
 “Swingline Agent” means the Dollar Swingline Agent or the Euro Swingline
Agent. 
 “Swingline Amount” means (subject always to Clauses 9.4 (Relationship with
the Revolving Facility) and 12.4 (Relationship with the Revolving Facility)) USD50,000,000. 

“Swingline Lender” means the Dollar Swingline Lender or the Euro Swingline Lender. 

  
 - 29 - 

 “Swingline Loan” means a Dollar Swingline Loan or a Euro Swingline Loan. 

“TARGET2” means the Trans-European Automated Real-time Gross Settlement Express Transfer payment system which utilises a
single shared platform and which was launched on 19 November 2007. 
 “TARGET Day” means any day on which
TARGET2 is open for the settlement of payments in euro. 
 “Tax” means any tax, levy, impost, duty or other charge or
withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same). 

“Term” means each period determined under this Agreement for which the Issuing Bank is under a liability under a Letter of
Credit. 
 “Termination Date” means the Original Termination Date, or where so extended pursuant to Clause 2.3
(Extension option) in respect of a Lender’s Commitment, the First Extended Termination Date or the Second Extended Termination Date as the case may be. 

“Total Commitments” means the aggregate of the Commitments, being USD600,000,000 at the Effective Date. 

“Transfer Certificate” means a certificate substantially in the form set out in Schedule 4 (Form
of Transfer Certificate) or any other form agreed between the Agent and the Company. 

“Transfer Date” means, in relation to an assignment or a transfer, the later of: 

 

	 	(a)	the proposed Transfer Date specified in the relevant Assignment Agreement or Transfer Certificate; and 

  

	 	(b)	the date on which the Agent executes the relevant Assignment Agreement or Transfer Certificate. 

“UK Bank Levy” means the United Kingdom bank levy (as defined in the Finance (No.3) Bill published
by HM Treasury on 31 March 2011). 
 “Ultimate Beneficiary” means the ultimate intended beneficiary of a Letter of Credit
issued in favour of a Correspondent Bank, being a Facility Approved L/C Beneficiary or any other beneficiary approved by the Issuing Bank. 

“Unfunded Pension Liability” means the excess of an Employee Plan’s benefit liabilities under
Section 4001(a)(16) of ERISA, over the current value of that plan’s assets, determined in accordance with the assumptions used for funding the Employee Plan pursuant to Section 412 of the Code for the applicable plan year. 

“Unpaid Sum” means any sum due and payable but unpaid by an Obligor under the Finance Documents. 

  
 - 30 - 

 “U.S.” and “United States” means the
United States of America, its territories, possessions and other areas subject to the jurisdiction of the United States of America. 

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

“U.S. Borrower” means a Borrower whose jurisdiction of organisation is a state of the United States or the
District of Columbia. 
 “U.S. Debtor Relief Laws” means the U.S. Bankruptcy Code
and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, judicial management or similar debtor relief laws of the United States from time to
time in effect and affecting the rights of creditors generally. 
 “U.S. GAAP” means generally accepted
accounting principles in the United States of America. 
 “U.S. Guarantor” means a Guarantor whose
jurisdiction of organisation is a state of the United States or the District of Columbia. 
 “U.S. Obligor”
means any U.S. Borrower or U.S. Guarantor. 
 “U.S. Tax Obligor” means: 

 

	 	(a)	a Borrower which is resident for tax purposes in the U.S.; or 

  

	 	(b)	an Obligor some or all of whose payments under the Finance Documents are from sources within the U.S. for U.S. federal income tax purposes. 

“Utilisation” means a Loan or a Letter of Credit. 

“Utilisation Date” means the date of a Utilisation, being the date on which the relevant Loan is to be
made or the relevant Letter of Credit is to be issued. 
 “Utilisation Request” means in the case of a
Utilisation of: 
  

	 	(a)	a Revolving Facility Loan under the Revolving Facility, a notice substantially in the form set out in Part I of Schedule 3 (Requests); 

 

	 	(b)	the Dollar Swingline Facility, a notice substantially in the form set out in Part II of Schedule 3 (Requests); 

  

	 	(c)	the Euro Swingline Facility, a notice substantially in the form set out in Part III of Schedule 3 (Requests); and 

  

	 	(d)	a Letter of Credit under the Revolving Facility, a notice substantially in the form set out in Part IV of Schedule 3 (Requests). 

“VAT” means: 

  
 - 31 - 

	 	(a)	any tax imposed in compliance with the Council Directive of 28 November 2006 on the common system of value added tax (EC Directive 2006/112); and 

 

	 	(b)	any other tax of a similar nature, whether imposed in a member state of the European Union in substitution for, or levied in addition to, such tax referred to in paragraph (a) above, or imposed elsewhere.

  

	1.2	Construction 

  

	 	(a)	Unless a contrary indication appears any reference in this Agreement to: 

  

	 	(i)	the “Agent”, the “Arranger”, the “Coordinator”, any “Finance Party”, any “Lender”, the “Issuing
Bank” any “Obligor” or any “Party” shall be construed so as to include its successors in title, permitted assigns and permitted transferees to, or of, its rights and/or obligations under the Finance
Documents; 

  

	 	(ii)	“assets” includes present and future properties, revenues and rights of every description; 

  

	 	(iii)	“euro equivalent” means at any time an amount of US Dollars converted into euros at the Agent’s Spot Rate of Exchange on the date the calculation is made; 

 

	 	(iv)	a “Finance Document” or any other agreement or instrument is a reference to that Finance Document or other agreement or instrument as amended, novated, supplemented, extended, replaced or
restated; 

  

	 	(v)	a “group of Lenders” includes all the Lenders; 

  

	 	(vi)	“indebtedness” includes any obligation (whether incurred as principal or as surety) for the payment or repayment of money, whether present or future, actual or contingent; 

 

	 	(vii)	an “Interest Period” includes each period determined under this Agreement by reference to which interest on a Dollar Swingline Loan and a Euro Swingline Loan is calculated;

  

	 	(viii)	a “Lender” includes the Dollar Swingline Lender and the Euro Swingline Lender; 

  

	 	(ix)	a Lender’s participation in relation to a Letter of Credit shall be construed as a reference to the relevant amount that is or may be payable by a Lender in relation to that Letter of Credit; 

 

	 	(x)	a “person” includes any individual, firm, company, corporation, government, state or agency of a state or any association, trust, joint venture, consortium, partnership or other entity (whether or not
having separate legal personality); 

  
 - 32 - 

	 	(xi)	a “regulation” includes any regulation, rule, official directive, request or guideline (whether or not having the force of law, but if not having the force of law being of a type with which persons to
which it applies are accustomed to comply) of any governmental, intergovernmental or supranational body, agency, department or of any regulatory, self-regulatory or other authority or organisation; 

 

	 	(xii)	a provision of law is a reference to that provision as amended or re-enacted; and 

  

	 	(xiii)	a time of day is a reference to London time. 

  

	 	(b)	The determination of the extent to which a rate is “for a period equal in length” to an Interest Period shall disregard any
inconsistency arising from the last day of that Interest Period being determined pursuant to the terms of this Agreement. 

  

	 	(c)	Section, Clause and Schedule headings are for ease of reference only. 

  

	 	(d)	Unless a contrary indication appears, a term used in any other Finance Document or in any notice given under or in connection with any Finance Document has the same meaning in that Finance Document or notice as in this
Agreement. 

  

	 	(e)	a Borrower providing “cash cover” for a Letter of Credit means a Borrower paying an amount in the currency of the Letter of Credit to an interest-bearing account in the name of the
Borrower and the following conditions are met: 

  

	 	(i)	the account is with the Issuing Bank; 

  

	 	(ii)	subject to paragraph (b) of Clause 7.7 (Regulation and consequences of cash cover provided by Borrower), withdrawals
from the account may only be made to pay the relevant Finance Party amounts due and payable to it under this Agreement in respect of that Letter of Credit until no amount is or may be outstanding under that Letter of Credit or if the Agent
determines that cash collateral is no longer required; and 

  

	 	(iii)	the Borrower has executed a security document, in form and substance satisfactory to the Issuing Bank with which that account is held, creating a first ranking security interest over that account. 

 

	 	(f)	A Default (other than an Event of Default) is “continuing” if it has not been remedied or waived and an Event of Default is “continuing” if it has not been waived. 

 

	 	(g)	A Utilisation made or to be made to a Borrower includes a Letter of Credit issued on its behalf. 

  

	 	(h)	A Lender funding its participation in a Utilisation includes a Lender participating in a Letter of Credit. 

  

	 	(i)	A Lender is deemed to have a participation in each Dollar Swingline Loan equal to its Dollar Swingline Proportion and in each Euro Swingline Loan equal to its Euro Swingline Proportion. 

  
 - 33 - 

	 	(j)	Amounts outstanding under this Agreement include amounts outstanding under or in respect of any Letter of Credit. 

  

	 	(k)	An outstanding amount of a Letter of Credit at any time is the maximum amount that is or may be payable by the relevant Borrower in respect of that Letter of Credit at that time. 

 

	 	(l)	The Interest Period of a Letter of Credit will be construed as a reference to the Term of that Letter of Credit. 

  

	 	(m)	An amount borrowed includes any amount utilised by way of Letter of Credit. 

  

	 	(n)	A Borrower “repaying” or “prepaying” a Letter of Credit means: 

  

	 	(i)	that Borrower providing cash cover for that Letter of Credit; 

  

	 	(ii)	the maximum amount payable under the Letter of Credit being reduced or cancelled in accordance with its terms; or 

  

	 	(iii)	the Issuing Bank being satisfied that it has no further liability under that Letter of Credit, 

and the amount by which a Letter of Credit is repaid or prepaid under paragraphs (i) and (ii) above is the amount of the relevant cash
cover, reduction or cancellation. 
  

	 	(o)	A Borrower’s obligation on Utilisations becoming “due and payable” includes the Borrower repaying any Letter of Credit in accordance with paragraph (n) above. 

 

	 	(p)	Unless a contrary indication appears, any reference in this Agreement or any Finance Document to “Bank of America Merrill Lynch International Limited” is a reference to its successor in title Bank of America
Merrill Lynch International Designated Activity Company (including, without limitation, its branches) pursuant to and with effect from the merger between Bank of America Merrill Lynch International Limited and Bank of America Merrill Lynch
International Designated Activity Company that takes effect in accordance with the Cross-Border Mergers Directive (2005/56/EC) (as codified) as implemented in the United Kingdom and Ireland. Notwithstanding anything to the contrary in any Finance
Document, a transfer of rights and obligations from Bank of America Merrill Lynch International Limited to Bank of America Merrill Lynch International Designated Activity Company pursuant to such merger shall be permitted. 

 

	1.3	Currency symbols and definitions 

 “USD” and
“US Dollars” denote the lawful currency of the United States of America, “EUR” and “euro” denote the single currency of the Participating Member States, “SGD” and “Singapore
Dollars” denote the lawful currency of Singapore and “HKD” and “Hong Kong Dollars” denote the lawful currency of Hong Kong. 

  
 - 34 - 

	1.4	Third party rights 

  

	 	(a)	Unless expressly provided to the contrary in a Finance Document, a person who is not a Party has no right under the Contracts (Rights of Third Parties) Act 1999 (the “Third Parties
Act”) to enforce or to enjoy the benefit of any term of this Agreement. 

  

	 	(b)	Subject to Clause 43.4 (Other exceptions) but otherwise notwithstanding any term of any Finance Document, the consent of any person who is not a Party is not required to rescind or vary this
Agreement at any time. 

  
 - 35 - 

 SECTION 2 

THE FACILITY 
  

	2.	THE FACILITY 

  

	2.1	The Revolving Facility 

 Subject to the terms of this Agreement, the
Lenders make available to the Borrowers a multicurrency revolving credit facility in an aggregate amount equal to the Total Commitments. 
  

	2.2	Increase in Total Commitments 

  

	 	(a)	The Company may, at any time after the date of this Agreement, request an increase in the Total Commitments of: 

  

	 	(i)	up to USD250,000,000 (provided that the Agent has been provided with a copy of a resolution of the Board of Directors of the Company (certified by a director or by a Financial Officer as
being correct, complete and in full force and effect) approving any increase pursuant to this Clause 2.2 in form and substance reasonably satisfactory to it); or 

  

	 	(ii)	if the Commitment of a Defaulting Lender has been repaid and cancelled in accordance with paragraph (d) of Clause 16.5 (Right of replacement or repayment and
cancellation in relation to a single Lender), an amount not exceeding the amount of the Commitment so cancelled and repaid, 

in each case by written notice to the Agent (an “Increase Request Notice”) not less than 15 Business Days prior to the
proposed effective date of such increase. 
  

	 	(b)	Upon receipt of an Increase Request Notice, the Agent shall, on behalf of the Company, invite each Lender to assume a pro rata share of the amount of the proposed increase to the Total
Commitments (the “Total Increase Amount”). No Lender may increase its Commitment by an amount exceeding its pro rata share of the proposed Total Increase Amount except in
accordance with paragraph (c)(ii) below. Each Lender shall, if it agrees to increase its Commitment in accordance with this Clause 2.2, provide the Agent with a Commitment Increase Notice by no later than 5:00 p.m. London time 5 Business Days after
the date of the Increase Request Notice (the “Final Acceptance Time”). For the avoidance of doubt, no Lender is under any obligation to agree to provide an increase in its Commitment. 

 

	 	(c)	After the Final Acceptance Time, if the existing Lenders have not agreed to increase their Commitments by an aggregate amount equal to the Total Increase Amount, the Company may: 

 

	 	(i)	invite any bank, financial institution, trust, fund or other entity acceptable to the Agent, the Issuing Banks and the Swingline Lenders (each a “Further Lender”) to accede to this Agreement as a
Lender; and/or 

  
 - 36 - 

	 	(ii)	invite any existing Lender which has agreed to increase its Commitment to provide a further increase beyond its pro rata share of the Total Increase Amount, 

in a total aggregate amount which is less than or equal to the Total Increase Amount less the aggregate amount by which existing Lenders have
agreed to increase their Commitments pursuant to paragraph (b) above. 
  

	 	(d)	Commitments increased or added under this Clause 2.2 must be: 

  

	 	(i)	if provided by an existing Lender, in a minimum amount of USD5,000,000 and in integral multiples of USD1,000,000; or 

  

	 	(ii)	if provided by a Further Lender, in a minimum amount of USD5,000,000 and in integral multiples of USD1,000,000, 

and in a total aggregate amount of not more than USD250,000,000. 
  

	 	(e)	A Lender’s Commitment shall be increased or a Further Lender’s Commitment shall become effective on the Increase Effective Date. 

 

	 	(f)	The Agent shall, subject to paragraph (g) below, as soon as reasonably practicable after receipt by it of a duly completed Commitment Increase Notice or Further Lender Accession Letter appearing on its face to
comply with and delivered in accordance with the terms of this Agreement, execute such Commitment Increase Notice or Further Lender Accession Letter. 

  

	 	(g)	The Agent shall not be obliged to execute a Further Lender Accession Letter unless it is satisfied that it has complied with all necessary “know your customer” or other similar checks under all applicable laws
and regulations in relation to the proposed Further Lender. 

  

	 	(h)	On the applicable Increase Effective Date in relation to a Further Lender: 

  

	 	(i)	such Further Lender shall become a Party as a Lender and such Further Lender and each of the other Finance Parties shall assume the same obligations towards one another and acquire the same rights against one another as
that Further Lender and those Finance Parties would have assumed and/or acquired had the Further Lender been an Original Lender; and 

  

	 	(ii)	the Obligors and such Further Lender shall assume the same obligations towards one another and acquire the same rights against one another as the Obligors and that Further Lender would have assumed and/or acquired had
the Further Lender been an Original Lender. 

  

	 	(i)	The Agent shall notify the Lenders and the Company of any increase in the Total Commitments pursuant to this Clause 2.2. 

  
 - 37 - 

	2.3	Extension option 

  

	 	(a)	The Company may by notice to the Agent not more than 75 and not less than 45 days before the First Extension Option Date (the “First Extension Request”), request that the Original Termination Date in
respect of each Lender’s Commitment be extended to the First Extended Termination Date. 

  

	 	(b)	The Company may by notice to the Agent not more than 75 and not less than 45 days before the Second Extension Option Date (the “Second Extension Request”), request that the
then applicable Termination Date in respect of each Lender’s Commitment be extended: 

  

	 	(i)	to the Second Extended Termination Date with respect to Lenders who consented to the First Extension Request; and/or 

  

	 	(ii)	to the First Extended Termination Date or the Second Extended Termination Date (as selected by the Borrower in the Second Extension Request): 

 

	 	(A)	if no First Extension Request has been made; or 

  

	 	(B)	with respect to Lenders who refused, or were deemed not to consent to, the First Extension Request. 

  

	 	(c)	Each Extension Request must be in the form set out in Schedule 17 (Form of Extension Request). 

 

	 	(d)	Each Extension Request is irrevocable. 

  

	 	(e)	The Agent shall promptly notify the Lenders of any Extension Request. 

  

	 	(f)	If a Lender, in its sole discretion, notifies the Agent of its agreement to an Extension Request not later than the date falling 30 days before the relevant Extension Option Date, the Termination Date applicable to its
Commitment will, with effect from the relevant Extension Option Date, and subject to paragraph (j) below, be extended in accordance with the relevant Extension Request. 

 

	 	(g)	If any Lender fails to reply to an Extension Request on or before the date falling 30 days before the relevant Extension Option Date, it will be deemed to have refused that Extension Request (such Lender being a
“Non-Extending Lender”) and the Termination Date applicable to its Commitment will not be extended in accordance with such Extension Request. 

 

	 	(h)	If one or more (but not all) of the Lenders agree to an Extension Request, then the Agent must notify the Borrower, identifying in that notification any Non- Extending Lenders. 

 

	 	(i)	At any time prior to the relevant Extension Option Date set out in the relevant Extension Request which the Non-Extending Lender refused or was deemed not to consent to, the
Company may replace any Non-Extending Lender pursuant to paragraph (d) of Clause 16.5 (Rights of replacement or repayment 

  
 - 38 - 

	 	and cancellation in relation to a single Lender), provided that upon the Replacement Lender assuming the Commitment of the relevant Non- Extending Lender, the Termination Date in respect of such Commitment will
be automatically extended to the First Extended Termination Date or the Second Extended Termination Date (as applicable) as set out in the relevant Extension Request. 

 

	 	(j)	Any extension of the Termination Date pursuant to this Clause 2.3 will only take effect if on the date of the relevant Extension Request and on the relevant Extension Option Date: 

 

	 	(i)	no Default is continuing or would result from the proposed extension; and 

  

	 	(ii)	the Repeating Representations to be made by each Obligor are true in all material respects. 

  

	2.4	Finance Parties’ rights and obligations 

  

	 	(a)	The obligations of each Finance Party under the Finance Documents are several. Failure by a Finance Party to perform its obligations under the Finance Documents does not affect the obligations of any other Party under
the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents. 

  

	 	(b)	The rights of each Finance Party under or in connection with the Finance Documents are separate and independent rights and any debt arising under the Finance Documents to a Finance Party from an Obligor is a separate
and independent debt in respect of which a Finance Party shall be entitled to enforce its rights in accordance with paragraph (c) below. The rights of each Finance Party include any debt owing to that Finance Party under the Finance Documents
and, for the avoidance of doubt, any part of a Loan or any other amount owed by an Obligor which relates to a Finance Party’s participation in a Facility or its role under a Finance Document (including any such amount payable to the Agent on
its behalf) is a debt owing to that Finance Party by that Obligor. 

  

	 	(c)	A Finance Party may, except as specifically provided in the Finance Documents, separately enforce its rights under or in connection with the Finance Documents. 

 

	3.	PURPOSE 

  

	3.1	Purpose 

 Each Borrower shall apply all amounts borrowed by it under the Revolving
Facility towards dividends, share repurchases (other than (i) any acquisition or repurchase of shares in contravention of Section 275 of the Companies Ordinance (Cap. 622) of the Laws of Hong Kong or (ii) any financing or refinancing
of the acquisition of or subscription for shares in any Belgian Obligor (save as authorised by Articles 329, 430 and 629 of the Belgian company law and for share buy-backs carried out in accordance with
Belgian company law)), acquisitions, working capital, refinancing of existing indebtedness and other general corporate purposes. 

  
 - 39 - 

	3.2	Monitoring 

 No Finance Party is bound to monitor or verify the application of any amount
borrowed pursuant to this Agreement. 
  

	4.	CONDITIONS OF UTILISATION 

  

	4.1	Initial conditions precedent 

 No Borrower may deliver a
Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions Precedent) in form and substance reasonably satisfactory to the Agent. The Agent shall notify
the Company and the Lenders promptly upon being so satisfied. 
  

	4.2	Further conditions precedent 

 Each Lender will only be obliged to comply
with Clause 5.4 (Lenders’ participation) if on the date of the Utilisation Request and on the proposed Utilisation Date: 
  

	 	(a)	in the case of a Rollover Loan, no Event of Default is continuing or would result from the proposed Revolving Facility Loan and, in the case of any other Revolving Facility Loan, no Default is continuing or would result
from the proposed Revolving Facility Loan; 

  

	 	(b)	the Repeating Representations to be made by each Obligor are true in all material respects; and 

  

	 	(c)	it has not notified the Agent that it is or will become unlawful for it to perform any of its obligations as set out under and in accordance with Clause 16.1 (Illegality). 

 

	4.3	Conditions relating to Optional Currencies 

  

	 	(a)	A currency will constitute an Optional Currency in relation to a Utilisation if: 

  

	 	(i)	it is readily available in the amount required and freely convertible into the Base Currency in the wholesale market for that currency on the Quotation Day and the Utilisation Date for that Utilisation; and

  

	 	(ii)	it is a Facility Approved Currency or it has been approved by the Agent (acting on the instructions of all the Lenders), 

on or prior to receipt by the Agent of the relevant Utilisation Request for that Utilisation. 

 

	 	(b)	If the Agent has received a written request from the Company for a currency to be approved under paragraph (a)(ii) above (other than a Facility Approved Currency), the Agent will confirm to the Company by the Specified
Time: 

  
 - 40 - 

	 	(i)	whether or not the Lenders have granted their approval; and 

  

	 	(ii)	if approval has been granted, the minimum amount and integral multiples for any subsequent Utilisation in that currency. 

  

	4.4	Maximum number of Utilisations 

  

	 	(a)	A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation 20 or more Utilisations would be outstanding concurrently at any time. 

 

	 	(b)	Any Loan made by a single Lender under Clause 14.2 (Unavailability of a currency) shall not be taken into account in this Clause 4.4. 

  
 - 41 - 

 SECTION 3 

UTILISATION 
  

	5.	UTILISATION - REVOLVING FACILITY LOANS 

  

	5.1	Delivery of a Utilisation Request 

 A Borrower
may utilise the Revolving Facility by delivery to the Agent of a duly completed Utilisation Request not later than the Specified Time. 
  

	5.2	Completion of a Utilisation Request for Revolving Facility Loans 

 

	 	(a)	Each Utilisation Request for a Revolving Facility Loan is irrevocable and will not be regarded as having been duly completed unless: 

 

	 	(i)	the proposed Utilisation Date is a Business Day within the Availability Period; 

  

	 	(ii)	the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount); and 

  

	 	(iii)	the proposed Interest Period complies with Clause 18 (Interest Periods). 

  

	 	(b)	Only one Revolving Facility Loan may be requested in each Utilisation Request. 

  

	5.3	Currency and amount 

  

	 	(a)	The currency specified in a Utilisation Request must be the Base Currency or an Optional Currency. 

  

	 	(b)	The amount of the proposed Revolving Facility Loan must be: 

  

	 	(i)	if the currency selected is the Base Currency, a minimum of USD5,000,000, in integral multiples of USD1,000,000 or if less, the Available Facility; 

 

	 	(ii)	if the currency selected is euro, a minimum amount of EUR5,000,000, in integral multiples of EUR1,000,000, or if less, the Available Facility; 

 

	 	(iii)	if the currency selected is Singapore Dollars a minimum amount of SGD8,000,000, in integral multiples of SGD2,000,000, or, if less, the Available Facility; 

 

	 	(iv)	if the currency selected is Hong Kong Dollars, a minimum amount of HKD40,000,000, in integral multiples of HKD10,000,000, or, if less, the Available Facility; or 

 

	 	(v)	if the currency selected is an Optional Currency other than euro, Singapore Dollars or Hong Kong Dollars, the minimum amount specified by the Agent pursuant to paragraph (b)(ii) of Clause 4.3 (Conditions relating to
Optional Currencies) or, if less, the Available Facility; and 

  
 - 42 - 

	 	(vi)	in any event such that its Base Currency Amount is less than or equal to the Available Facility. 

  

	5.4	Lenders’ participation 

  

	 	(a)	If the conditions set out in this Agreement have been met and subject to Clause 15.2 (Cashless rollover), each Lender shall make its participation in each Revolving Facility Loan available by the Utilisation Date
through its Facility Office by the Specified Time. 

  

	 	(b)	The amount of each Lender’s participation in each Revolving Facility Loan will be equal to the proportion borne by its Available Commitment to the Available Facility immediately prior to making the Revolving
Facility Loan. 

  

	 	(c)	The Agent shall determine the Base Currency Amount of each Revolving Facility Loan which is to be made in an Optional Currency and shall notify each Lender of the amount, currency and the Base Currency Amount of each
Revolving Facility Loan, the amount of its participation in that Revolving Facility Loan and, if different, the amount of that participation to be made available in accordance with Clause 37.1 (Payments to the Agent), in each
case by the Specified Time. 

  

	5.5	Cancellation of Commitment 

 The Commitments which, at that time,
are unutilised (taking into account a Utilisation of the Facility by way of Swingline Loan) shall be immediately cancelled at the end of the Availability Period. 
  

	6.	UTILISATION - LETTERS OF CREDIT 

  

	6.1	General 

  

	 	(a)	Clause 5 (Utilisation - Revolving Facility Loans) does not apply to a Utilisation by way of Letters of Credit. 

 

	 	(b)	In determining the amount of the Available Facility and a Lender’s L/C Proportion of a proposed Letter of Credit for the purposes of this Agreement, the Available Commitment of a Lender will be calculated ignoring
any cash cover provided for outstanding Letters of Credit. 

  

	6.2	The Revolving Facility 

 The Revolving Facility may be utilised by
way of Letters of Credit. 
  

	6.3	Delivery of a Utilisation Request for Letters of Credit 

A Borrower may request a Letter of Credit to be issued by delivery to the Agent (with a copy to the Issuing Bank) of a duly completed
Utilisation Request not later than the Specified Time. 

  
 - 43 - 

	6.4	Completion of a Utilisation Request for Letters of Credit 

Each Utilisation Request for a Letter of Credit is irrevocable (unless the beneficiary of the Letter of Credit is not approved in accordance
with paragraph (g) below or, following the delivery of such Utilisation Request, paragraph (a)(i) of Clause 7.9 (Use of Correspondent Banks) applies) and will not be regarded as having been duly completed unless: 

 

	 	(a)	it specifies that it is for a Letter of Credit; 

  

	 	(b)	the proposed Utilisation Date is a Business Day within the Availability Period; 

  

	 	(c)	the currency and amount of the Letter of Credit comply with Clause 6.5 (Currency and amount); 

  

	 	(d)	the form of Letter of Credit is attached; 

  

	 	(e)	in the case of any Letter of Credit to be issued with a Term of: 

  

	 	(i)	more than one year, the Expiry Date of such Letter of Credit falls on or before the date falling 5 days prior to the Termination Date; 

 

	 	(ii)	one year and which is automatically renewable, the Expiry Date for such Letter of Credit falls on or before the date falling 5 days prior to the Termination Date; and 

 

	 	(iii)	less than one year, the Expiry Date for such Letter of Credit falls on or before the date falling 5 days prior to the Termination Date; 

 

	 	(f)	the delivery instructions for the Letter of Credit are specified; and 

  

	 	(g)	the beneficiary of the Letter of Credit is a Facility Approved L/C Beneficiary or any other beneficiary approved by the Issuing Bank. 

 

	6.5	Currency and amount 

  

	 	(a)	The currency specified in a Utilisation Request must be the Base Currency or an Optional Currency. 

  

	 	(b)	The amount of the proposed Letter of Credit must be an amount whose Base Currency Amount is not more than the Available Facility and which is: 

 

	 	(i)	if the currency selected is the Base Currency, a minimum of USD100,000 or, if less, the Available Facility; 

  

	 	(ii)	if the currency selected is euro, a minimum of EUR100,000, or, if less, the Available Facility; 

  

	 	(iii)	if the currency selected is Singapore Dollars, a minimum amount of SGD150,000, or, if less, the Available Facility; 

  
 - 44 - 

	 	(iv)	if the currency selected is Hong Kong Dollars, a minimum amount of HKD1,000,000, or, if less, the Available Facility; or 

  

	 	(v)	if the currency selected is an Optional Currency other than euro, Singapore Dollars or Hong Kong Dollars, the minimum amount (and if required, integral multiple) specified by the Agent pursuant to paragraph (b)(ii) of
Clause 4.3 (Conditions relating to Optional Currencies) or, if less, the Available Facility, 

and in any case the aggregate amount of all outstanding Letters of Credit at any time may not exceed USD50,000,000. 

 

	6.6	Issue of Letters of Credit 

  

	 	(a)	If the conditions set out in this Agreement have been met, the Issuing Bank or its Designated Entity (as applicable) shall issue the Letter of Credit on the Utilisation Date. 

 

	 	(b)	The Issuing Bank or its Designated Entity (as applicable) will only be obliged to comply with paragraph (a) above if on the date of the Utilisation Request or Renewal Request and on the proposed Utilisation Date:

  

	 	(i)	no Lender is a Non-Acceptable L/C Lender (unless it has deposited cash collateral in accordance with Clause 7.5 (Cash collateral by
Non- Acceptable L/C Lender and Borrower’s option to provide cash cover) to the satisfaction
of the Issuing Bank); 

  

	 	(ii)	in the case of a Letter of Credit to be renewed in accordance with Clause 6.7 (Renewal of a Letter of Credit), no Event of Default is
continuing or would result from the proposed Utilisation and, in the case of any other Utilisation, no Default is continuing or would result from the proposed Utilisation; and 

 

	 	(iii)	the Repeating Representations to be made by each Obligor are true in all material respects. 

  

	 	(c)	The amount of each Lender’s participation in each Letter of Credit will be equal to its L/C Proportion. 

  

	 	(d)	The Agent shall determine the Base Currency Amount of each Letter of Credit which is to be issued in an Optional Currency and shall notify the Issuing Bank or its Designated Entity (as applicable) and each Lender of the
details of the requested Letter of Credit and its participation in that Letter of Credit by the Specified Time. 

  

	 	(e)	The Issuing Bank or its Designated Entity (as applicable) has no duty to enquire of any person whether or not any of the conditions set out in paragraph (b) above have been met. The Issuing Bank or its Designated
Entity (as applicable) may assume that those conditions have been met unless it is expressly notified to the contrary by the Agent. The Issuing Bank or its Designated Entity (as applicable) will have no liability to any person for issuing a Letter
of Credit based on such assumption. 

  
 - 45 - 

	 	(f)	The Issuing Bank or its Designated Entity (as applicable) is solely responsible for the form of the Letter of Credit that it issues. The Agent has no duty to monitor the form of that document. 

 

	 	(g)	Subject to paragraph (h) of Clause 34.8 (Rights and discretions), each of the Issuing Bank or its Designated Entity (as applicable) and the Agent shall provide the other with any
information reasonably requested by the other that relates to a Letter of Credit and its issue. 

  

	 	(h)	The Issuing Bank or its Designated Entity (as applicable) may issue a Letter of Credit in the form of a SWIFT message or other form of communication customary in the relevant market but has no obligation to issue that
Letter of Credit in any particular form of communication. 

  

	6.7	Renewal of a Letter of Credit 

  

	 	(a)	A Borrower may request that any Letter of Credit issued on behalf of that Borrower be renewed by delivery to the Agent of a Renewal Request in substantially similar form to a Utilisation Request (but which states that
it is a Renewal Request) for a Letter of Credit by the Specified Time. 

  

	 	(b)	If the Term of a Letter of Credit is one year, such Letter of Credit shall (unless the Borrower has requested otherwise) be renewed automatically for the same Term (or in the case of the last renewal prior to the
Termination Date, such shorter period as is necessary to ensure that the Term of the Letter of Credit does not extend beyond the date falling 5 days prior to the Termination Date) provided that the conditions set out in
paragraph (e) of Clause 6.4 (Completion of a Utilisation Request for Letters of Credit) and paragraph (b) of Clause 6.6
(Issue of Letters of Credit) have been satisfied. 

  

	 	(c)	The Finance Parties shall treat any Renewal Request in the same way as a Utilisation Request for a Letter of Credit except that the conditions set out in paragraphs (d) and (g) of Clause 6.4 (Completion
of a Utilisation Request for Letters of Credit) shall not apply. 

  

	 	(d)	The terms of each renewed Letter of Credit shall be the same as those of the relevant Letter of Credit immediately prior to its renewal, (and, for the avoidance of doubt, the amount of such Letter of Credit can be less
than the minimum amount set out in Clause 6.5 (Currency and amount)), except that: 

  

	 	(i)	its amount may be less than the amount of the Letter of Credit immediately prior to its renewal; and 

  

	 	(ii)	its Term shall start on the date which was the Expiry Date of the Letter of Credit immediately prior to its renewal, and shall end on the proposed Expiry Date specified in the Renewal Request. 

 

	 	(e)	Subject to paragraph (f) below, if the conditions set out in this Agreement have been met, the Issuing Bank or its Designated Entity (as applicable) shall amend and re-issue
any Letter of Credit pursuant to a Renewal Request. 

  
 - 46 - 

	 	(f)	Where a new Letter of Credit is to be issued to replace by way of renewal an existing Letter of Credit, the Issuing Bank or its Designated Entity (as applicable) is not required to issue that new Letter of Credit until
the Letter of Credit being replaced has been returned to the Issuing Bank or its Designated Entity (as applicable) or the Issuing Bank or its Designated Entity (as applicable) is satisfied either that it will be returned to it or otherwise that no
liability can arise under it. 

  

	6.8	Reduction of a Letter of Credit 

  

	 	(a)	If, on the proposed Utilisation Date of a Letter of Credit, any Lender under the Revolving Facility is a Non-Acceptable L/C Lender and: 

 

	 	(i)	that Lender has failed to provide cash collateral to the Issuing Bank in accordance with Clause 7.5 (Cash collateral by
Non-Acceptable L/C Lender and Borrower’s option to provide cash cover); and 

 

	 	(ii)	the Borrower of that proposed Letter of Credit has not exercised its right to provide cash cover to the Issuing Bank in accordance with paragraph (g) of Clause 7.5 (Cash collateral
by Non-Acceptable L/C Lender and Borrower’s option to provide cash cover), 

the Issuing Bank or its Designated Entity (as applicable) may reduce the amount of that Letter of Credit by an amount equal to the amount of
the participation of that Non-Acceptable L/C Lender in respect of that Letter of Credit and that Non-Acceptable L/C Lender shall be deemed not to have any participation
(or obligation to indemnify the Issuing Bank or its Designated Entity (as applicable)) in respect of that Letter of Credit for the purposes of the Finance Documents. 
  

	 	(b)	The Issuing Bank shall notify the Agent and the Company of each reduction made pursuant to this Clause 6.8. 

  

	 	(c)	This Clause 6.8 shall not affect the participation of each other Lender in that Letter of Credit. 

  

	6.9	Revaluation of Letters of Credit 

  

	 	(a)	If any Letters of Credit are denominated in an Optional Currency, the Agent shall at six-monthly intervals after the date of issue of the Letter of Credit recalculate the Base
Currency Amount of each Letter of Credit by notionally converting into the Base Currency the outstanding amount of that Letter of Credit on the basis of the Agent’s Spot Rate of Exchange on the date of calculation. 

 

	 	(b)	A Borrower shall, if requested by the Agent within 5 days of any calculation under paragraph (a) above, ensure that within 3 Business Days sufficient Utilisations are prepaid to prevent the Base Currency Amount of
the Utilisations exceeding the Total Commitments following any adjustment to a Base Currency Amount under paragraph (a) above. 

  
 - 47 - 

	6.10	Reduction or expiry of Letter of Credit 

If the amount of any Letter of Credit is wholly or partially reduced or it is repaid or prepaid or the Letter of Credit is cancelled prior to
its Expiry Date, the Issuing Bank and the Borrower that requested the issue of that Letter of Credit shall promptly notify the Agent of the details upon becoming aware of them. 

 

	7.	LETTERS OF CREDIT 

  

	7.1	Immediately payable 

 If a Letter of Credit or any amount outstanding under a
Letter of Credit becomes immediately payable, the Borrower that requested the issue of that Letter of Credit shall repay or prepay that amount immediately. 
  

	7.2	Fee payable in respect of Letters of Credit 

  

	 	(a)	The Company shall pay (or procure that the relevant Borrower pays) to the Issuing Bank a fronting fee and a processing fee in respect of each Letter of Credit requested by it in the amount and at the times agreed in the
letter dated on or about the date of the Amendment and Restatement Agreement between the Agent and the Company. A reference in this Agreement to a Fee Letter shall include the letter referred to in this paragraph. 

 

	 	(b)	Each Borrower shall pay to the Agent (for the account of each Lender) a Letter of Credit fee in the currency of the relevant Letter of Credit computed at the same rate as the Applicable Margin on the outstanding amount
of each Letter of Credit requested by it for the period from the date of this Agreement and on the cancelled amount of any Lender’s Commitment at any time a cancellation in full is effective. This fee shall be distributed according to each
Lender’s L/C Proportion of that Letter of Credit. 

  

	 	(c)	The accrued Letter of Credit fee on a Letter of Credit shall be payable (i) on the last day of each successive period of three Months which ends during the period beginning on the date of this Agreement and ending
on the last day of the Availability Period, (ii) on the last day of the Availability Period and, (iii) if cancelled in full, on the cancelled amount of the relevant Lender’s Commitment at the time the cancellation is effective.

  

	 	(d)	If a Borrower cash covers any part of a Letter of Credit then: 

  

	 	(i)	the fronting fee payable to the Issuing Bank and the Letter of Credit fee payable for the account of each Lender shall continue to be payable until the expiry of the Letter of Credit; and 

 

	 	(ii)	the Borrower will be entitled to withdraw the interest accrued on the cash cover to pay those fees. 

  

	7.3	Claims under a Letter of Credit 

  

	 	(a)	Each Borrower irrevocably and unconditionally authorises the Issuing Bank or its Designated Entity (as applicable) to pay any claim made or purported to be made under a Letter of Credit requested by it and which appears
on its face to be in order and to satisfy the conditions of such Letter of Credit for a claim thereunder (in this Clause 7, a “claim”). 

  
 - 48 - 

	 	(b)	The relevant Borrower shall immediately on demand pay to the Agent for the Issuing Bank or its Designated Entity (as applicable) an amount equal to the amount of any claim. For the avoidance of doubt, such demand may be
made by the Agent on the relevant Borrower before the date on which the Issuing Bank or its Designated Entity (as applicable) pays out under the relevant Letter of Credit, in which case, the Borrower must pay the amount within 3 Business Days of
demand. 

  

	 	(c)	Each Borrower acknowledges that the Issuing Bank or its Designated Entity (as applicable): 

  

	 	(i)	is not obliged to carry out any investigation or seek any confirmation from any other person before paying a claim; and 

  

	 	(ii)	deals in documents only and will not be concerned with the legality of a claim or any underlying transaction or any available set-off, counterclaim or other defence of any person.

  

	 	(d)	The obligations of a Borrower under this Clause 7 will not be affected by: 

  

	 	(i)	the sufficiency, accuracy or genuineness of any claim or any other document; or 

  

	 	(ii)	any incapacity of, or limitation on the powers of, any person signing a claim or other document. 

  

	7.4	Indemnities 

  

	 	(a)	Each Borrower shall immediately on demand indemnify the Issuing Bank or its Designated Entity (as applicable) against any reasonably documented cost, loss or liability incurred by the Issuing Bank or its Designated
Entity (as applicable) (otherwise than by reason of the Issuing Bank’s or its Designated Entity’s (as applicable) gross negligence or wilful misconduct) in acting as the Issuing Bank under any Letter of Credit or Subsequent Letter of
Credit requested by that Borrower. 

  

	 	(b)	Unless the Issuing Bank or its Designated Entity’s (as applicable) has been reimbursed by an Obligor pursuant to a Finance Document each Lender shall (according to its L/C Proportion) immediately on demand
indemnify the Issuing Bank or its Designated Entity (as applicable) against any cost, loss or liability incurred by the Issuing Bank or its Designated Entity (as applicable) (otherwise than by reason of the Issuing Bank’s or its Designated
Entity’s (as applicable) gross negligence or wilful misconduct) in acting as the Issuing Bank or its Designated Entity (as applicable) under any Letter of Credit or Subsequent Letter of Credit. 

 

	 	(c)	The Borrower which requested a Letter of Credit or Subsequent Letter of Credit shall immediately on demand reimburse any Lender for any payment it makes to the Issuing Bank or its Designated Entity (as applicable) under
this Clause 7.4 in respect of that Letter of Credit or Subsequent Letter of Credit. 

  
 - 49 - 

	 	(d)	The obligations of each Lender or Borrower under this Clause 7 are continuing obligations and will extend to the ultimate balance of sums payable by that Lender or Borrower in respect of any Letter of Credit or
Subsequent Letter of Credit, regardless of any intermediate payment or discharge in whole or in part. 

  

	 	(e)	If a Borrower has provided cash cover in respect of a Lender’s participation in a Letter of Credit, the Issuing Bank or its Designated Entity’s (as applicable) shall seek reimbursement from that cash cover
before making a demand of that Lender under paragraph (b) above. Any recovery made by the Issuing Bank or its Designated Entity’s (as applicable) pursuant to that cash cover will reduce that Lender’s liability under paragraph
(b) above. 

  

	 	(f)	The obligations of any Lender or Borrower under this Clause 7 will not be affected by any act, omission, matter or thing which, but for this Clause, would reduce, release or prejudice any of its obligations under this
Clause 7 (without limitation and whether or not known to it or any other person) including: 

  

	 	(i)	any time, waiver or consent granted to, or composition with, any Obligor, any beneficiary or Ultimate Beneficiary under a Letter of Credit or Subsequent Letter of Credit or any other person; 

 

	 	(ii)	the release of any other Obligor or any other person under the terms of any composition or arrangement with any creditor or any member of the Group; 

 

	 	(iii)	the taking, variation, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up or enforce, any rights against, or security over assets of, any Obligor, any beneficiary or Ultimate
Beneficiary under a Letter of Credit or Subsequent Letter of Credit or other person or any non-presentation or non-observance of any formality or other requirement in
respect of any instrument or any failure to realise the full value of any security; 

  

	 	(iv)	any incapacity or lack of power, authority or legal personality of or dissolution or change in the members or status of an Obligor, any beneficiary or Ultimate Beneficiary under a Letter of Credit or Subsequent Letter
of Credit or any other person; 

  

	 	(v)	any amendment, novation, supplement, extension, restatement (however fundamental and whether or not more onerous) or replacement of a Finance Document, any Letter of Credit, any Subsequent Letter of Credit or any other
document or security including, without limitation, any change in the purpose of, any extension, of, or any increase in, any facility or the addition of any new facility under any Finance Document or other document; 

  
 - 50 - 

	 	(vi)	any unenforceability, illegality or invalidity of any obligation of any person under any Finance Document, any Letter of Credit, any Subsequent Letter of Credit or any other document or security; or 

 

	 	(vii)	any insolvency or similar proceedings. 

  

	7.5	Cash collateral by Non-Acceptable L/C Lender and
Borrower’s option to provide cash cover 

  

	 	(a)	If, at any time, a Lender under the Revolving Facility is a Non-Acceptable L/C Lender, the Issuing Bank may, by notice to that Lender, request that Lender to pay and that Lender
shall pay, on or prior to the date falling 5 Business Days after the request by the Issuing Bank, an amount equal to that Lender’s L/C Proportion of: 

  

	 	(i)	the outstanding amount of a Letter of Credit; and 

  

	 	(ii)	in the case of a proposed Letter of Credit, the amount of that proposed Letter of Credit, 

 and
in the currency of that Letter of Credit to an interest-bearing account held in the name of that Lender with the Issuing Bank. 
  

	 	(b)	The Non-Acceptable L/C Lender to whom a request has been made in accordance with paragraph (a) above shall enter into a security document or other form of collateral
arrangement over the account, in form and substance satisfactory to the Issuing Bank, as collateral for any amounts due and payable under this Agreement by that Lender to the Issuing Bank or its Designated Entity’s (as applicable) in respect of
that Letter of Credit. 

  

	 	(c)	Subject to paragraph (f) below, withdrawals from such an account may only be made to pay the Issuing Bank or its Designated Entity’s (as applicable) amounts due and payable to it under this Agreement by the Non-Acceptable L/C Lender in respect of that Letter of Credit until no amount is or may be outstanding under that Letter of Credit. 

 

	 	(d)	Each Lender under the Revolving Facility shall notify the Agent and the Company: 

  

	 	(i)	on the date of this Agreement or on any later date on which it becomes such a Lender in accordance with Clause 2.2 (Increase in Total Commitments) or Clause 32
(Changes to the Lenders) whether it is a Non-Acceptable L/C Lender; and 

  

	 	(ii)	as soon as practicable upon becoming aware of the same, that it has become a Non-Acceptable L/C Lender, 

and an indication in Schedule 1 (The Original Parties), in a Transfer Certificate, in an Assignment Agreement, in a Further Lender
Accession Letter or in a Commitment Increase Notice to that effect will constitute a notice under paragraph (i) above to the Agent and, upon delivery in accordance with Clause 32.8 (Copy Documents to Company). 

  
 - 51 - 

	 	(e)	Any notice received by the Agent pursuant to paragraph (d) above shall constitute notice to the Issuing Bank of that Lender’s status and the Agent shall, upon receiving each such notice, promptly notify the
Issuing Bank of that Lender’s status as specified in that notice. 

  

	 	(f)	Notwithstanding paragraph (c) above, a Lender which has provided cash collateral in accordance with this Clause 7.5 may, by notice to the Issuing Bank, request that an amount equal to the amount provided by it as
collateral in respect of the relevant Letter of Credit (together with any accrued interest) be returned to it: 

  

	 	(i)	to the extent that such cash collateral has not been applied in satisfaction of any amount due and payable under this Agreement by that Lender to the Issuing Bank or its Designated Entity’s (as applicable) in
respect of the relevant Letter of Credit; 

  

	 	(ii)	if: 

  

	 	(A)	it ceases to be a Non-Acceptable L/C Lender; 

  

	 	(B)	its obligations in respect of the relevant Letter of Credit are transferred to a New Lender in accordance with the terms of this Agreement; or 

 

	 	(C)	a Replacement Lender has agreed to undertake that Lender’s obligations in respect of the relevant Letter of Credit in accordance with the terms of this Agreement; and 

 

	 	(iii)	if no amount is due and payable by that Lender in respect of a Letter of Credit, 

 and the
Issuing Bank shall pay that amount to the Lender within 5 Business Days of that Lender’s request (and shall cooperate with the Lender in order to procure that the relevant security or collateral arrangement is released and discharged). 

 

	 	(g)	To the extent that a Non-Acceptable L/C Lender fails to provide cash collateral (or notifies the Issuing Bank that it will not provide cash collateral) in accordance with this
Clause 7.5 in respect of a proposed Letter of Credit, the Issuing Bank shall promptly notify the Company (with a copy to the Agent) and the Borrower of that proposed Letter of Credit may, at any time before the proposed Utilisation Date of that
Letter of Credit, provide cash cover to an account with the Issuing Bank in an amount equal to that Lender’s L/C Proportion of the amount of that proposed Letter of Credit. 

 

	7.6	Requirement for cash cover from Borrower 

  

	 	If:	

  

	 	(a)	a Non-Acceptable L/C Lender fails to provide cash collateral (or notifies the Issuing Bank that it will not provide cash collateral) in accordance with Clause 7.5 (Cash
collateral by Non-Acceptable L/C Lender and Borrower’s option to provide cash cover) in respect of a
Letter of Credit that has been issued; 

  
 - 52 - 

	 	(b)	the Issuing Bank notifies the Company (with a copy to the Agent) that it requires the Borrower of the relevant Letter of Credit to provide cash cover to an account (held in the name of the Borrower) with the Issuing
Bank in an amount equal to that Lender’s L/C Proportion of the outstanding amount of that Letter of Credit; and 

  

	 	(c)	that Borrower has not already provided such cash cover which is continuing to stand as collateral, 

then that Borrower shall provide such cash cover within 5 Business Days of the notice referred to in paragraph (b) above. 

 

	7.7	Regulation and consequences of cash cover provided by Borrower 

 

	 	(a)	Any cash cover provided by a Borrower pursuant to Clause 7.5 (Cash collateral by Non-Acceptable L/C
Lender and Borrower’s option to provide cash cover) or Clause 7.6 (Requirement for cash
cover from Borrower) may be funded out of a Revolving Facility Loan. 

  

	 	(b)	Notwithstanding paragraph (e) of Clause 1.2 (Construction), the relevant Borrower may request that an amount equal to the cash cover (together with any accrued interest) provided by it pursuant to Clause 7.5
(Cash collateral by Non-Acceptable L/C Lender and Borrower’s option
to provide cash cover) or Clause 7.6 (Requirement for cash cover from Borrower) be returned to it: 

 

	 	(i)	to the extent that such cash cover has not been applied in satisfaction of any amount due and payable under this Agreement by that Borrower to the Issuing Bank or its Designated Entity’s (as applicable) in respect
of a Letter of Credit; 

  

	 	(ii)	if: 

  

	 	(A)	the relevant Lender ceases to be a Non Acceptable L/C Lender; 

  

	 	(B)	the relevant Lender’s obligations in respect of the relevant Letter of Credit are transferred to a New Lender in accordance with the terms of this Agreement; or 

 

	 	(C)	a Replacement Lender has agreed to undertake that Lender’s obligations in respect of the relevant Letter of Credit in accordance with the terms of this Agreement; and 

 

	 	(iii)	if no amount is due and payable by the relevant Lender in respect of the relevant Letter of Credit, 

and the Issuing Bank shall pay that amount to that Borrower within 5 Business Days of that Borrower’s request. 

  
 - 53 - 

	 	(c)	To the extent that a Borrower has provided cash cover pursuant to Clause 7.5 (Cash collateral by Non-Acceptable L/C Lender and Borrower’s option to provide cash cover)
or Clause 7.6 (Requirement for cash cover from Borrower), the relevant Lender’s L/C Proportion in respect of that Letter of Credit will remain (but that Lender’s obligations in relation to that Letter of Credit may be satisfied in
accordance with paragraph (e)(ii) of Clause 1.2 (Construction)). 

  

	 	(d)	The Issuing Bank shall promptly notify the Agent of the extent to which a Borrower provides cash cover pursuant to Clause 7.5 (Cash collateral by Non-
Acceptable L/C Lender and Borrower’s option to provide cash cover) or Clause 7.6 (Requirement
for cash cover from Borrower) and of any change in the amount of cash cover so provided. 

  

	7.8	Rights of contribution 

 No Obligor will be entitled to any right of
contribution or indemnity from any Finance Party in respect of any payment it may make under this Clause 7. 
  

	7.9	Use of Correspondent Banks 

  

	 	(a)	Where: 

  

	 	(i)	the Issuing Bank considers it necessary to issue a Letter of Credit through a Correspondent Bank; or 

  

	 	(ii)	the Ultimate Beneficiary requests that its letter of credit be issued by a bank other than the Issuing Bank, 

  

	 	subject	to Clause 6 (Utilisation – Letters of Credit), and provided that: 

  

	 	(A)	the relevant Borrower agrees to the Letter of Credit being issued to a Correspondent Bank in order to allow that Correspondent Bank to issue a letter of credit (the “Subsequent Letter
of Credit”) to the Ultimate Beneficiary; and 

  

	 	(B)	the Utilisation Request in respect of such Letter of Credit identifies the Ultimate Beneficiary and the Correspondent Bank, 

the Issuing Bank may issue a Letter of Credit to a Correspondent Bank, in order to allow that Correspondent Bank to issue a Subsequent Letter
of Credit to the Ultimate Beneficiary. 
  

	 	(b)	The Company must pay on demand to the Issuing Bank the amount of all costs and expenses (including fees payable to the Correspondent Bank) reasonably incurred by it in connection with the issue of the Subsequent Letter
of Credit by the Correspondent Bank. 

  
 - 54 - 

	8.	DOLLAR SWINGLINE FACILITY 

  

	8.1	General 

  

	 	(a)	Clause 4.2 (Further conditions precedent) and 4.3 (Conditions relating to Optional Currencies); 

  

	 	(b)	Clause 5 (Utilisation - Revolving Facility Loans); 

  

	 	(c)	Clause 6 (Utilisation - Letters of Credit); 

  

	 	(d)	Clause 12 (Utilisation - Euro Swingline Loans); 

  

	 	(e)	Clause 14 (Optional Currencies); 

  

	 	(f)	Clause 17 (Interest) as it applies to the calculation of interest on a Loan but not default interest on an overdue amount; 

  

	 	(g)	Clause 18 (Interest Periods); and 

  

	 	(h)	Clause 19 (Changes to the Calculation of Interest), do not apply to Dollar Swingline Loans. 

  

	8.2	Dollar Swingline Facility 

 Subject to the terms of this Agreement, the Dollar Swingline
Lender makes available to the Borrowers a dollar swingline loan facility in an aggregate amount equal to the Swingline Amount, provided that any Dollar Swingline Loan to WABCO Asia Private Ltd. or to any Obligor incorporated in Singapore shall be
made available out of a Singapore branch of the Original Dollar Swingline Lender. 
  

	8.3	Purpose 

 Each Borrower shall apply all amounts borrowed by it under the Dollar Swingline
Facility towards dividends, share repurchases (other than (i) any acquisition or repurchase of shares in contravention of Section 275 of the Companies Ordinance (Cap. 622) of the Laws of Hong Kong or (ii) any financing or refinancing
of the acquisition of or subscription for shares in any Belgian Obligor (save as authorised by Articles 329, 430 and 629 of the Belgian company law and for share buy-backs carried out in accordance with
Belgian company law)), acquisitions, working capital and other general corporate purposes. A Dollar Swingline Loan may not be applied in repayment or prepayment of another Swingline Loan. 

 

	9.	UTILISATION - DOLLAR SWINGLINE LOANS 

  

	9.1	Delivery of a Utilisation Request for Dollar Swingline Loans 

A Borrower may utilise the Dollar Swingline Facility by delivery to the Dollar Swingline Agent (copied to the Agent and to the Dollar Swingline
Lender) of a duly completed Utilisation Request not later than the Specified Time. 

  
 - 55 - 

	9.2	Completion of a Utilisation Request for Dollar Swingline Loans 

 

	 	(a)	Each Utilisation Request for a Dollar Swingline Loan is irrevocable and will not be regarded as having been duly completed unless: 

  

	 	(i)	it identifies the Borrower; 

  

	 	(ii)	it specifies that it is for a Dollar Swingline Loan; 

  

	 	(iii)	the proposed Utilisation Date is a New York Business Day within the Availability Period; 

  

	 	(iv)	the Dollar Swingline Loan is denominated in US Dollars; 

  

	 	(v)	the amount of the proposed Dollar Swingline Loan is not more than the Available Dollar Swingline Facility and is a minimum of USD500,000 or, if less, the Available Dollar Swingline Facility; and 

 

	 	(vi)	the proposed Interest Period: 

  

	 	(A)	does not overrun the Termination Date; 

  

	 	(B)	is a period of not more than 10 New York Business Days; and 

  

	 	(C)	ends on a New York Business Day. 

  

	 	(b)	Only one Dollar Swingline Loan may be requested in each Utilisation Request. 

  

	9.3	Dollar Swingline Loan conditions 

  

	 	(a)	If the conditions set out in this Agreement have been met, the Dollar Swingline Lender shall make each Dollar Swingline Loan available through its Facility Office in New York City or in the case of a Dollar Swingline
Loan being made by a Designated Entity, through the Facility Office of that Designated Entity in its Designated Jurisdiction (as defined in paragraph (a) of Clause 32.11 (Designated Entities)). 

 

	 	(b)	The Dollar Swingline Lender will only be obliged to comply with paragraph (a) above if on the date of the Utilisation Request and on the proposed Utilisation Date: 

 

	 	(i)	there are no Defaulting Lenders (unless such Defaulting Lender has had its Commitment repaid and cancelled in full or it has been replaced pursuant to Clause 16.5 (Right of replacement or repayment and cancellation
in relation to a single Lender)); 

  

	 	(ii)	no Default is continuing or would result from the proposed Utilisation; and 

  

	 	(iii)	the Repeating Representations to be made by each Obligor are true in all material respects. 

  
 - 56 - 

	 	(c)	The Dollar Swingline Agent shall notify the Agent, the Dollar Swingline Lender and the other Lenders of the amount of each Dollar Swingline Loan by the Specified Time. 

 

	9.4	Relationship with the Revolving Facility 

  

	 	(a)	This Clause 9.4 applies when a Dollar Swingline Loan is outstanding or is to be borrowed. 

  

	 	(b)	The Revolving Facility may be used by way of Dollar Swingline Loans. The Dollar Swingline Facility is not independent of the Revolving Facility. 

 

	 	(c)	Notwithstanding any other term of this Agreement a Lender is only obliged to participate in a Revolving Facility Loan or a Dollar Swingline Loan to the extent that it would not result in the Base Currency Amount of its
participation (and that of a Lender which is its Designated Entity) in the Loans exceeding its Overall Commitment. 

  

	 	(d)	Where, but for the operation of paragraph (c) above, the Base Currency Amount of a Lender’s participation (and that of a Lender which is its Designated Entity) in the Loans would have exceeded its Overall
Commitment, the excess will be apportioned among the other Lenders participating in the relevant Loan pro rata according to their Commitments. This calculation will be applied as often as necessary until the Loan is apportioned among the
relevant Lenders in a manner consistent with paragraph (c) above. 

  

	10.	DOLLAR SWINGLINE LOANS 

  

	10.1	Dollar Swingline Loan participation 

  

	 	(a)	Although the Dollar Swingline Lender makes each Dollar Swingline Loan subject to the terms of this Agreement, each Lender agrees it is deemed to have a participation in each Dollar Swingline Loan in an amount equal to
its Dollar Swingline Proportion and it further agrees that if required pursuant to the operation of this Clause 10.1 it will fund such amount. 

  

	 	(b)	The Dollar Swingline Lender may, by written notice to the Dollar Swingline Agent not later than the Specified Time on any Business Day require each of the other Lenders to fund its participation on such Business Day in
all or a portion of the Dollar Swingline Loans outstanding in an amount equal to its Dollar Swingline Proportion of such Dollar Swingline Loans. 

  

	 	(c)	Such notice shall specify the amount of the Dollar Swingline Loans in which the Dollar Swingline Lender requires the Lenders to fund its participation. The Dollar Swingline Agent will give written notice thereof to each
Lender (with a copy to the Company) not later than the Specified Time, specifying in such notice the relevant Lender’s Dollar Swingline Proportion of each Dollar Swingline Loan. 

 

	 	(d)	Each Lender acknowledges and agrees that its obligation to fund participations in Dollar Swingline Loans pursuant to this Clause 10.1 is absolute and unconditional and shall not be affected by any circumstance
whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any set-off, withholding or reduction
whatsoever. 

  
 - 57 - 

	 	(e)	Each Lender shall comply with its obligation under this Clause 10.1 by wire transfer of immediately available funds to the Dollar Swingline Agent by the Specified Time and the Dollar Swingline Agent shall promptly pay
the amounts so received to the Dollar Swingline Lender. 

  

	 	(f)	Any amounts received by the Dollar Swingline Lender from any Borrower (or other party on behalf of any Borrower) in respect of a Dollar Swingline Loan after receipt by the Dollar Swingline Lender of the proceeds of
participations therein shall be promptly remitted to the Dollar Swingline Agent; any such amounts received by the Dollar Swingline Agent shall be promptly remitted by the Dollar Swingline Agent to the Lenders that shall have made their payments
pursuant to this Clause 10.1 and to the Dollar Swingline Lender, in the amount that is proportionate to their shares. 

  

	 	(g)	Any payment under this Clause 10.1 does not reduce the obligations of the Obligors. 

  

	10.2	Repayment of Dollar Swingline Loans 

 Each Borrower that has drawn a
Dollar Swingline Loan shall repay that Dollar Swingline Loan on the last day of its Interest Period. 
  

	10.3	Voluntary prepayment of Dollar Swingline Loans 

  

	 	(a)	The Borrower to which a Dollar Swingline Loan has been made may prepay at any time (with accrued interest and, subject to any Break Costs, without premium or penalty) the whole of that Dollar Swingline Loan.

  

	 	(b)	Unless a contrary indication appears in this Agreement, any part of the Dollar Swingline Facility which is prepaid or repaid may be reborrowed in accordance with the terms of this Agreement. 

 

	10.4	Interest 

  

	 	(a)	The rate of interest on each Dollar Swingline Loan for any day during its Interest Period is the aggregate of: 

  

	 	(i)	the Applicable Margin; and 

  

	 	(ii)	the rate per annum being the highest of: 

  

	 	(A)	the Prime Rate; 

  

	 	(B)	the Federal Funds Rate plus 0.50 per cent. per annum; and 

  

	 	(C)	one month USD LIBOR plus 1.00 per cent. per annum; 

  
 - 58 - 

 or, if Citibank N.A. is the sole Lender with a funded participation in a Dollar Swingline Loan,
the rate per annum being the highest of: 
  

	 	(D)	the Prime Rate minus 0.75 per cent. per annum; 

  

	 	(E)	the Federal Funds Rate plus 0.50 per cent. per annum; and 

  

	 	(F)	one month USD LIBOR plus 1.00 per cent. per annum. 

  

	 	(b)	The Dollar Swingline Agent shall promptly notify the Dollar Swingline Lender and the relevant Borrower of the determination of the rate of interest under paragraph (a) above, such notification to be made daily by
no later than 1:00 p.m. on each day of the relevant Interest Period. 

  

	 	(c)	If any day during an Interest Period is not a New York Business Day, the rate of interest on a Dollar Swingline Loan on that day will be the rate applicable to the immediately preceding New York Business Day.

  

	 	(d)	Each Borrower shall pay accrued interest on each Dollar Swingline Loan made to it on the last day of its Interest Period. 

  

	 	(e)	For the avoidance of doubt accrued interest and utilisation fee (if applicable) on each Dollar Swingline Loan is solely for the benefit of the Dollar Swingline Lender until such time, if any, as a Lender funds its
participation in such Dollar Swingline Loan pursuant to Clause 10.1 (Dollar Swingline Loan participation) at which time such Lender becomes entitled to interest and utilisation fee (if applicable) on
the amount and from the date it has funded. 

  

	10.5	Unavailability of rate - Dollar Swingline Facility 

  

	 	(a)	If none of the Prime Rate, Federal Funds Rate or Screen Rate for one month USD LIBOR (each a “Dollar Swingline Benchmark Rate”) is available for any day, the
applicable Dollar Swingline Benchmark Rate for that day shall be the Reference Bank Rate for that day. 

  

	 	(b)	If paragraph (a) above applies but no Reference Bank Rate is available for that day there shall be no Dollar Swingline Benchmark Rate for that day and Clause 10.7 (Cost of funds - Dollar
Swingline Facility) shall apply. 

  

	10.6	Calculation of Reference Bank Rate - Dollar Swingline Facility 

  

	 	(a)	Subject to paragraph (b) below, if the Dollar Swingline Benchmark Rate is to be determined on the basis of a Reference Bank Rate for a day but a Reference Bank does not supply a quotation by noon on that day, the
Reference Bank Rate shall be calculated on the basis of the quotations of the remaining Reference Banks. 

  

	 	(b)	If at or about noon on that day none or only one of the Reference Banks supplies a quotation, there shall be no Reference Bank Rate for that day. 

  
 - 59 - 

	10.7	Cost of funds - Dollar Swingline Facility 

  

	 	(a)	If this Clause 10.7 applies, the rate of interest on the relevant Dollar Swingline Loan for the relevant day shall be the percentage rate per annum which is the sum of: 

 

	 	(i)	the Applicable Margin; and 

  

	 	(ii)	the rate notified to the Dollar Swingline Agent by the Dollar Swingline Lender as soon as practicable and in any event before interest is due to be paid in respect of that Dollar Swingline Loan, which expresses as a
percentage rate per annum the cost to the Dollar Swingline Lender of funding its participation in that Dollar Swingline Loan from whatever source it may reasonably select. 

 

	 	(b)	Notwithstanding paragraph (a) above, if this Clause 10.7 applies and a Lender has funded a Dollar Swingline Loan pursuant to Clause 10.1 (Dollar Swingline Loan
participation), the rate of interest on each such Lender’s share of the relevant Dollar Swingline Loan for the relevant day shall instead be the percentage rate per annum which is the sum of: 

 

	 	(i)	the Applicable Margin; and 

  

	 	(ii)	the rate notified to the Dollar Swingline Agent by such Lender as soon as practicable and in any event before interest is due to be paid in respect of that Dollar Swingline Loan, which expresses as a percentage rate per
annum the cost to the relevant Lender of funding its participation in that Dollar Swingline Loan from whatever source it may reasonably select. 

  

	10.8	Interest Period 

  

	 	(a)	Each Dollar Swingline Loan has one Interest Period only. 

  

	 	(b)	The Interest Period for a Dollar Swingline Loan must be selected in the relevant Utilisation Request. 

  

	10.9	Dollar Swingline Agent 

 Notwithstanding any other term of this Agreement and without
limiting the liability of any Obligor under the Finance Documents, each Lender shall (in proportion to its share of the Total Commitments or, if the Total Commitments are then zero, to its share of the Total Commitments immediately prior to their
reduction to zero) pay to or indemnify the Dollar Swingline Agent, within 3 Business Days of demand, for or against any cost, loss or liability (including, without limitation, for negligence or any other category of liability whatsoever) incurred by
the Dollar Swingline Agent (other than by reason of the Dollar Swingline Agent’s gross negligence or wilful misconduct) or, in the case of any cost, loss or liability pursuant to Clause 37.10 (Disruption to payment systems etc.)
notwithstanding the Dollar Swingline Agent’s negligence, gross negligence or any other category of liability whatsoever but not including any claim based on the fraud of the Dollar Swingline Agent in acting as Dollar Swingline Agent in respect
of the Dollar Swingline Facility under the Finance Documents (unless the Dollar Swingline Agent has been reimbursed by an Obligor pursuant to a Finance Document). 

  
 - 60 - 

	11.	EURO SWINGLINE FACILITY 

  

	11.1	General 

  

	 	(a)	Clause 4.2 (Further conditions precedent) and 4.3 (Conditions relating to Optional Currencies);

  

	 	(b)	Clause 5 (Utilisation - Revolving Facility Loans); 

  

	 	(c)	Clause 6 (Utilisation - Letters of Credit); 

  

	 	(d)	Clause 9 (Utilisation - Dollar Swingline Loans); 

  

	 	(e)	Clause 14 (Optional Currencies); 

  

	 	(f)	Clause 17 (Interest) as it applies to the calculation of interest on a Loan but not default interest on an overdue amount; 

  

	 	(g)	Clause 18 (Interest Periods); and 

  

	 	(h)	Clause 19 (Changes to the Calculation of Interest), 

 do not
apply to Euro Swingline Loans. 
  

	11.2	Euro Swingline Facility 

 Subject to the terms of this Agreement, the Euro
Swingline Lender makes available to the Borrowers a euro swingline loan facility in an aggregate amount equal to the Swingline Amount, provided that any Euro Swingline Loan to WABCO Asia Private Ltd. or to any Obligor incorporated in Singapore shall
be made available out of a Singapore branch of the Original Euro Swingline Lender. 
  

	11.3	Purpose 

 Each Borrower shall apply all amounts borrowed by it under the Euro Swingline
Facility towards dividends, share repurchases (other than (i) any acquisition or repurchase of shares in contravention of Section 275 of the Companies Ordinance (Cap. 622) of the Laws of Hong Kong or (ii) any financing or refinancing
of the acquisition of or subscription for shares in any Belgian Obligor (save as authorised by Articles 329, 430 and 629 of the Belgian company law and for share buy-backs carried out in accordance with
Belgian company law)), acquisitions, working capital and other general corporate purposes. A Euro Swingline Loan may not be applied in repayment or prepayment of another Swingline Loan. 

  
 - 61 - 

	12.	UTILISATION - EURO SWINGLINE LOANS 

  

	12.1	Delivery of a Utilisation Request for Euro Swingline Loans 

A Borrower may utilise the Euro Swingline Facility by delivery to the Euro Swingline Agent (copied to the Agent and to the Euro Swingline
Lender) of a duly completed Utilisation Request not later than the Specified Time. 
  

	12.2	Completion of a Utilisation Request for Euro Swingline Loans 

 

	 	(a)	Each Utilisation Request for a Euro Swingline Loan is irrevocable and will not be regarded as having been duly completed unless: 

  

	 	(i)	it identifies the Borrower; 

  

	 	(ii)	it specifies that it is for a Euro Swingline Loan; 

  

	 	(iii)	the proposed Utilisation Date is a TARGET Day within the Availability Period; 

  

	 	(iv)	the Euro Swingline Loan is denominated in euro; 

  

	 	(v)	the amount of the proposed Euro Swingline Loan is an amount whose Base Currency Amount is not more than the Available Euro Swingline Facility and is a minimum of the euro equivalent of USD500,000 or, if less, the
Available Euro Swingline Facility; and 

  

	 	(vi)	the proposed Interest Period: 

  

	 	(A)	does not overrun the Termination Date; 

  

	 	(B)	is a period of not more than 10 TARGET Days; and 

  

	 	(C)	ends on a TARGET Day. 

  

	 	(b)	Only one Euro Swingline Loan may be requested in each Utilisation Request. 

  

	12.3	Euro Swingline Loan conditions 

  

	 	(a)	If the conditions set out in this Agreement have been met, the Euro Swingline Lender shall make each Euro Swingline Loan available through its Facility Office in London or in the case of a Euro Swingline Loan being made
by a Designated Entity, through the Facility Office of that Designated Entity in its Designated Jurisdiction (as defined in paragraph (a) of Clause 32.11 (Designated Entities)). 

 

	 	(b)	The Euro Swingline Lender will only be obliged to comply with paragraph (a) above if on the date of the Utilisation Request and on the proposed Utilisation Date: 

 

	 	(i)	there are no Defaulting Lenders (unless such Defaulting Lender has had its Commitment repaid and cancelled in full or it has been replaced pursuant to Clause 16.5 (Right of replacement or repayment and cancellation
in relation to a single Lender)); 

  
 - 62 - 

	 	(ii)	no Default is continuing or would result from the proposed Utilisation; and 

  

	 	(iii)	the Repeating Representations to be made by each Obligor are true in all material respects. 

  

	 	(c)	The Euro Swingline Agent shall determine the Base Currency Amount of each Euro Swingline Loan and notify the Agent, the Euro Swingline Lender and the other Lenders of the amount of each Euro Swingline Loan by the
Specified Time. 

  

	12.4	Relationship with the Revolving Facility 

  

	 	(a)	This Clause 12.4 applies when a Euro Swingline Loan is outstanding or is to be borrowed. 

  

	 	(b)	The Revolving Facility may be used by way of Euro Swingline Loans. The Euro Swingline Facility is not independent of the Revolving Facility. 

 

	 	(c)	Notwithstanding any other term of this Agreement a Lender is only obliged to participate in a Loan to the extent that it would not result in the Base Currency Amount of its participation (and that of a Lender which is
its Designated Entity) in the Loans exceeding its Overall Commitment. 

  

	 	(d)	Where, but for the operation of paragraph (c) above, the Base Currency Amount of a Lender’s participation (and that of a Lender which is its Designated Entity) in the Loans would have exceeded its Overall
Commitment, the excess will be apportioned among the other Lenders participating in the relevant Loan pro rata according to their Commitments. This calculation will be applied as often as necessary until the Loan is
apportioned among the relevant Lenders in a manner consistent with paragraph (c) above. 

  

	13.	EURO SWINGLINE LOANS 

  

	13.1	Euro Swingline Loan participation 

  

	 	(a)	Although the Euro Swingline Lender makes each Euro Swingline Loan subject to the terms of this Agreement, each Lender agrees it is deemed to have a participation in each Euro Swingline Loan in an amount equal to its
Euro Swingline Proportion and it further agrees that if required pursuant to the operation of this Clause 13.1, it will fund such amount. 

  

	 	(b)	The Euro Swingline Lender may, by written notice to the Euro Swingline Agent not later than the Specified Time on any Business Day require each of the other Lenders to fund its participation on such Business Day in all
or a portion of the Euro Swingline Loans outstanding in an amount equal to the Euro Swingline Proportion of such Euro Swingline Loans. 

  
 - 63 - 

	 	(c)	Such notice shall specify the amount of the Euro Swingline Loans in which the Euro Swingline Lender requires the Lenders to fund its participation. The Euro Swingline Agent will give written notice thereof to each
Lender (with a copy to the Company) not later than the Specified Time, specifying in such notice the relevant Lender’s Euro Swingline Proportion of each Euro Swingline Loan. 

 

	 	(d)	Each Lender acknowledges and agrees that its obligation to acquire participations in Euro Swingline Loans pursuant to this Clause 13.1 is absolute and unconditional and shall not be affected by any circumstance
whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any set-off, abatement, withholding or
reduction whatsoever. 

  

	 	(e)	Each Lender shall comply with its obligation under this Clause 13.1 by wire transfer of immediately available funds to the Euro Swingline Agent by the Specified Time and the Euro Swingline Agent shall promptly pay the
amounts so received to the Euro Swingline Lender. 

  

	 	(f)	Any amounts received by the Euro Swingline Lender from any Borrower (or other party on behalf of any Borrower) in respect of a Euro Swingline Loan after receipt by the Euro Swingline Lender of the proceeds of
participations therein shall be promptly remitted to the Euro Swingline Agent; any such amounts received by the Euro Swingline Agent shall be promptly remitted by the Euro Swingline Agent to the Lenders that shall have made their payments pursuant
to this Clause 13.1 and to the Euro Swingline Lender in the amount that is proportionate to their shares. 

  

	 	(g)	Any payment under this Clause 13.1 does not reduce the obligations of the Obligors. 

  

	13.2	Repayment of Euro Swingline Loans 

 Each Borrower that
has drawn a Euro Swingline Loan shall repay that Euro Swingline Loan on the last day of its Interest Period. 
  

	13.3	Voluntary prepayment of Euro Swingline Loans 

  

	 	(a)	The Borrower to which a Euro Swingline Loan has been made may prepay at any time (with accrued interest and, subject to any Break Costs, without premium or penalty) the whole of that Euro Swingline Loan.

  

	 	(b)	Unless a contrary indication appears in this Agreement, any part of the Euro Swingline Facility which is prepaid or repaid may be reborrowed in accordance with the terms of this Agreement. 

 

	13.4	Interest 

  

	 	(a)	The rate of interest on each Euro Swingline Loan for its Interest Period is the aggregate of: 

  

	 	(i)	the Applicable Margin; and 

  
 - 64 - 

	 	(ii)	the rate per annum equal to the sum of the higher of: 

  

	 	(A)	the rate of interest per annum at which the overnight deposits in euro in an amount approximately equal to the amount with respect to which such rate is being determined, would be offered for such by the Euro Swingline
Agent to major banks in the local market; and 

  

	 	(B)	the cost of funds to the Euro Swingline Agent with respect to such amounts for such day, expressed as a rate of interest per annum. 

  

	 	(b)	The Euro Swingline Agent shall promptly notify the Euro Swingline Lender and the relevant Borrower of the determination of the rate of interest under paragraph (a) above. 

 

	 	(c)	Each Borrower shall pay accrued interest on each Euro Swingline Loan made to it on the last day of its Interest Period. 

  

	 	(d)	For the avoidance of doubt accrued interest and utilisation fee (if applicable) on each Euro Swingline Loan is solely for the benefit of the Euro Swingline Lender until such time, if any, as a Lender funds its
participation in such Euro Swingline Loan pursuant to Clause 13.1 (Euro Swingline Loan participation) at which time such Lender becomes entitled to interest and utilisation fee (if applicable) on the
amount and from the date it has funded. 

  

	13.5	Interest Period 

  

	 	(a)	Each Euro Swingline Loan has one Interest Period only. 

  

	 	(b)	The Interest Period for a Euro Swingline Loan must be selected in the relevant Utilisation Request. 

  

	13.6	Euro Swingline Agent 

 Notwithstanding any other term of this Agreement and
without limiting the liability of any Obligor under the Finance Documents, each Lender shall (in proportion to its share of the Total Commitments or, if the Total Commitments are then zero, to its share of the Total Commitments immediately prior to
their reduction to zero) pay to or indemnify the Euro Swingline Agent, within 3 Business Days of demand, for or against any cost, loss or liability (including, without limitation, for negligence or any other category of liability whatsoever)
incurred by the Euro Swingline Agent (other than by reason of the Euro Swingline Agent’s gross negligence or wilful misconduct) or, in the case of any cost, loss or liability pursuant to Clause 37.10 (Disruption to payment systems etc.)
notwithstanding the Euro Swingline Agent’s negligence, gross negligence or any other category of liability whatsoever but not including any claim based on the fraud of the Euro Swingline Agent in acting as Euro Swingline Agent in respect of the
Euro Swingline Facility under the Finance Documents (unless the Euro Swingline Agent has been reimbursed by an Obligor pursuant to a Finance Document). 

  
 - 65 - 

	14.	OPTIONAL CURRENCIES 

  

	14.1	Selection of currency 

 A Borrower (or the Company on behalf of a
Borrower) shall select the currency of a Utilisation in a Utilisation Request. 
  

	14.2	Unavailability of a currency 

 If before the Specified Time
on any Quotation Day: 
  

	 	(a)	a Lender notifies the Agent that the Optional Currency requested is not readily available to it in the amount required; or 

  

	 	(b)	a Lender notifies the Agent that compliance with its obligation to participate in a Loan in the proposed Optional Currency would contravene a law or regulation applicable to it, 

the Agent will give notice to the relevant Borrower and the Company to that effect by the Specified Time on that day. In this event, any Lender
that gives notice pursuant to this Clause 14.2 will be required to participate in the Loan in the Base Currency (in an amount equal to that Lender’s proportion of the Base Currency Amount or, in respect of a Rollover Loan, an amount equal to
that Lender’s proportion of the Base Currency Amount of the Rollover Loan that is due to be made) and its participation will be treated as a separate Loan denominated in the Base Currency during that Interest Period, provided that: 

 

	 	(i)	any part of a Loan treated as a separate Loan under this Clause 14.2 will not be taken into account for the purposes of any limit on the number of Loans or currencies outstanding at any one time; and 

 

	 	(ii)	a Loan will still be treated as a Rollover Loan if it is not denominated in the same currency as the maturing Loan by reason only of the operation of this Clause 14.2. 

 

	14.3	Participation in a Loan 

 Each Lender’s participation in a Loan will be
determined in accordance with paragraph (b) of Clause 5.4 (Lenders’ participation). 

  
 - 66 - 

 SECTION 4 

REPAYMENT, PREPAYMENT AND CANCELLATION 
  

	15.	REPAYMENT OF LOANS 

  

	15.1	Repayment of Loans 

 Each Borrower which has drawn a Revolving
Facility Loan shall repay that Revolving Facility Loan on the last day of its Interest Period. The obligations of the Borrowers under this Agreement are several and not joint. 
  

	15.2	Cashless rollover 

 Without prejudice to each Borrower’s obligation
under Clause 15.1 (Repayment of Loans), if: 
  

	 	(a)	one or more Revolving Facility Loans are to be made available to any Borrower: 

  

	 	(i)	on the same day that a maturing Revolving Facility Loan is due to be repaid by that Borrower; 

  

	 	(ii)	in the same currency as the maturing Revolving Facility Loan (unless it arose as a result of the operation of Clause 14.2 (Unavailability of a currency); and

  

	 	(iii)	in whole or in part for the purpose of refinancing the maturing Revolving Facility Loan; and 

  

	 	(b)	the proportion borne by each Lender’s participation in the maturing Revolving Facility Loan to the amount of that maturing Revolving Facility Loan is the same as the proportion borne by that Lender’s
participation in the new Revolving Facility Loans to the aggregate amount of those new Revolving Facility Loans, 

 the
aggregate amount of the new Revolving Facility Loans shall, unless the relevant Borrower notifies the Agent to the contrary in the relevant Utilisation Request, be treated as if applied in or towards repayment of the maturing Revolving Facility Loan
so that: 
  

	 	(i)	if the amount of the maturing Revolving Facility Loan exceeds the aggregate amount of the new Revolving Facility Loans: 

  

	 	(A)	the relevant Borrower will only be required to make a payment under Clause 37.1 (Payments to the Agent) in an amount in the relevant currency equal to that excess; and

  

	 	(B)	each Lender’s participation in the new Revolving Facility Loans shall be treated as having been made available and applied by the Borrower in or towards repayment of that Lender’s participation in the maturing
Revolving Facility Loan and that Lender will not be required to make a payment under Clause 37.1 (Payments to the Agent) in respect of its participation in the new Revolving Facility Loans; and 

  
 - 67 - 

	 	(ii)	if the amount of the maturing Revolving Facility Loan is equal to or less than the aggregate amount of the new Revolving Facility Loans: 

 

	 	(A)	the relevant Borrower will not be required to make a payment under Clause 37.1 (Payments to the Agent); and 

  

	 	(B)	each Lender will be required to make a payment under Clause 37.1 (Payments to the Agent) in respect of its participation in the new Revolving Facility Loans only to the
extent that its participation in the new Revolving Facility Loans exceeds that Lender’s participation in the maturing Revolving Facility Loan and the remainder of that Lender’s participation in the new Revolving Facility Loans shall be
treated as having been made available and applied by the Borrower in or towards repayment of that Lender’s participation in the maturing Revolving Facility Loan. 

 

	16.	PREPAYMENT AND CANCELLATION 

  

	16.1	Illegality 

  

	 	(a)	If, at any time, it is or will become unlawful in any applicable jurisdiction for a Lender to perform any of its obligations as contemplated by this Agreement or to fund or maintain its participation in any Utilisation
or it becomes unlawful for any Affiliate of a Lender for that Lender to do so, that Lender shall promptly notify the Agent upon becoming aware of that event and shall take all reasonable steps to mitigate in accordance with Clause 24.1
(Mitigation) and without prejudice to such Lender’s obligations under Clause 24.1 (Mitigation): 

  

	 	(i)	within 20 Business Days of the Agent notifying the Company, the Company may, by written notice to the Agent and that Lender, require that Lender to transfer its Commitment to a replacement Lender in accordance with
paragraph (d) of Clause 16.5 (Right of replacement or repayment and cancellation in relation to
a single Lender) provided that any applicable grace period permitted by law has not expired; and 

  

	 	(ii)	if the Company does not deliver a notice under paragraph (i) above within 20 Business Days of receipt of notice from the Agent or any applicable grace period permitted by law under paragraph (i) above has
expired, the Commitment of that Lender will be immediately cancelled and each Borrower shall repay that Lender’s participation in the Utilisations made to that Borrower on the last day of the Interest Period for each Utilisation occurring after
the Agent has notified the Company or, if earlier, the date specified by the Lender in the notice delivered to the Agent. 

  
 - 68 - 

	 	(b)	If at any time it is or will become unlawful for the Issuing Bank or its Designated Entity (as applicable) to issue or leave outstanding any Letter of Credit, the Issuing Bank shall promptly notify the Agent upon
becoming aware of that event, and upon the Agent notifying the Company, the Facility shall cease to be available for the issue of Letters of Credit and each Borrower shall use its reasonable endeavours to procure the release of each Letter of Credit
requested by that Borrower and outstanding at such time as soon as practicable. 

  

	16.2	Change of control 

  

	 	(a)	If, at any time, but subject to the proviso below, any person or group of persons acting in concert gains control of the Company: 

  

	 	(i)	the Company shall promptly notify the Agent upon becoming aware of that event; 

  

	 	(ii)	a Lender shall not be obliged to fund a Utilisation (except for a Rollover Loan) including for the avoidance of doubt, during any Consultation Period (as defined in paragraph (iii) below) or any Notice Period (as
defined in paragraph (iv) below); 

  

	 	(iii)	the Company may by notice to the Agent (upon receipt of which the Agent shall promptly notify the other Lenders) commence a consultation period of not less than 10 days with the Lenders in respect of such change of
control (a “Consultation Period”) with a view to agreeing whether the Facilities shall continue to be made available and on what terms; 

 

	 	(iv)	if no agreement is reached between the Company and the Lenders pursuant to paragraph (iii) above and if a Lender so requires and notifies the Agent at any time following the end of a Consultation Period, the Agent
shall, by not less than 20 days’ notice to the Company (the “Notice Period”), cancel the Commitment of that Lender and declare the participation of that Lender in all outstanding Utilisations, together with
accrued interest and all other amounts accrued under the Finance Documents, immediately due and payable, at which time the Commitment of that Lender will be cancelled and all such outstanding amounts will become immediately due and payable,

 provided that paragraphs (ii), (iii) and (iv) above shall not apply to a situation where: (A) all of the
shares of the Company are howsoever transferred to another company whose voting share capital is owned by those persons that own the voting share capital of the Company immediately prior to such transfer in the same proportions as they owned the
voting share capital of the Company; and (B) such company accedes to this Agreement as an Additional Guarantor. 
  

	 	(b)	For the purpose of paragraph (a) above “control” means: 

  
 - 69 - 

	 	(i)	the power (directly or indirectly and whether by way of ownership of shares, proxy, contract, agency or otherwise) to: 

  

	 	(A)	cast, or control the casting of, more than one-half of the maximum number of votes that might be cast at a general meeting of the Company; 

 

	 	(B)	appoint or remove all, or the majority, of the directors or other equivalent officers of the Company; or 

  

	 	(C)	give directions with respect to the operating and financial policies of the Company which the directors or other equivalent officers of the Company are obliged to comply with; or 

 

	 	(ii)	the holding, directly or indirectly, of more than one-half of the issued share capital of the Company (excluding any part of that issued share capital that carries no right to
participate beyond a specified amount in a distribution of either profits or capital). 

  

	 	(c)	For the purpose of paragraph (a) above “acting in concert” means, a group of persons who, pursuant to an agreement or understanding (whether formal or informal),
actively co-operate, through the acquisition by any of them, either directly or indirectly, of shares in the Company, to obtain or consolidate control of the Company. 

 

	16.3	Voluntary cancellation 

 The Company may at any time, if it gives the Agent
not less than 3 Business Days’ (or such shorter period as the Majority Lenders may agree) prior irrevocable written notice, cancel the whole or any part (being a minimum amount of USD5,000,000, in integral multiples of USD1,000,000) of the
Available Facility. Any cancellation under this Clause 16.3 shall reduce the Commitments of the Lenders rateably. 
  

	16.4	Voluntary prepayment of Utilisations 

 The
Borrower to which a Utilisation has been made may, if it gives the Agent not less than 3 Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, prepay the whole or any part of a Utilisation with accrued interest
and, subject to Break Costs, without premium or penalty (but if in part, being an amount that reduces the Base Currency Amount of the Utilisations by a minimum amount of USD1,000,000). 

 

	16.5	Right of replacement or repayment and cancellation in relation to a single Lender 

 

	 	(a)	If: 

  

	 	(i)	it is or will become unlawful for a Lender to perform any of its obligations as set out under Clause 16.1 (Illegality); 

  

	 	(ii)	any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 21.2 (Tax gross-up); 

  
 - 70 - 

	 	(iii)	any Lender claims indemnification from the Company under Clause 21.3 (Tax indemnity) or Clause 22.1 (Increased costs); or 

 

	 	(iv)	any Lender is a Defaulting Lender; 

 the Company may, whilst (in the case of paragraphs (ii),
(iii) and (iv) above) the circumstance giving rise to the requirement for that increase, indemnification continues, give the Agent notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that
Lender’s participation in the Utilisations, in each case, or give the Agent notice of its intention to replace that Lender in accordance with paragraph (d) below. 
  

	 	(b)	On receipt of a notice of cancellation referred to in paragraph (a) above, the Commitment of that Lender shall immediately be reduced to zero. 

 

	 	(c)	On the last day of each Interest Period which ends after the Company has given notice of cancellation under paragraph (a) above (or, if earlier, the date specified by the Company in that notice), each Borrower to
which a Utilisation is outstanding shall repay that Lender’s participation in that Utilisation. 

  

	 	(d)	The Company may: 

  

	 	(i)	in the circumstances set out in paragraph (a) above; or 

  

	 	(ii)	in the circumstances set out in paragraph (i) of Clause 2.3 (Extension option), 

on 5 Business Days’ prior notice to the Agent and that Lender, replace that Lender by requiring that Lender to (and to the extent
permitted by law, that Lender shall) transfer pursuant to Clause 32 (Changes to the Lenders) all (and not part only) of its rights and obligations under this Agreement to a Lender or other bank, financial institution, trust, fund or other
entity (a “Replacement Lender”) selected by the Company which confirms its willingness to assume and does assume all the obligations of the transferring Lender in accordance with Clause 32 (Changes to the Lenders) for a
purchase price in cash or other cash payment payable at the time of the transfer in an amount equal to the outstanding principal amount of such Lender’s participation in the outstanding Utilisations and all accrued interest and/or Letter of
Credit fees (to the extent that the Agent has not given a notification under Clause 32.10 (Pro rata interest settlement)), Break Costs and other amounts payable in relation thereto under the Finance Documents. 

 

	 	(e)	The replacement of a Lender pursuant to paragraph (d) above shall be subject to the following conditions: 

  

	 	(i)	the Company shall have no right to replace the Agent; 

  

	 	(ii)	neither the Agent nor any Lender shall have any obligation to find a replacement Lender; 

  
 - 71 - 

	 	(iii)	in no event shall the Lender replaced under paragraph (d) above be required to pay or surrender any of the fees received by such Lender pursuant to the Finance Documents; and 

 

	 	(iv)	the Lender shall only be obliged to transfer its rights and obligations pursuant to paragraph (d) above once it is satisfied that it has complied with all necessary “know your customer” or other similar
checks under all applicable laws and regulations in relation to that transfer. 

  

	 	(f)	A Lender shall perform the checks described in paragraph (e)(iv) above as soon as reasonably practicable following delivery of a notice referred to in paragraph (d) above and shall notify the Agent and the Company
when it is satisfied that it has complied with those checks. 

  

	16.6	Restrictions 

  

	 	(a)	Any notice of cancellation or prepayment given by any Party under this Clause 16 shall be irrevocable and, unless a contrary indication appears in this Agreement, shall specify the date or dates upon which the relevant
cancellation or prepayment is to be made and the amount of that cancellation or prepayment. 

  

	 	(b)	Any prepayment under this Agreement shall be made together with accrued interest on the amount prepaid and, subject to any Break Costs, without premium or penalty. 

 

	 	(c)	Unless a contrary indication appears in this Agreement, any part of a Facility which is prepaid or repaid may be reborrowed in accordance with the terms of this Agreement. 

 

	 	(d)	The Borrowers shall not repay or prepay all or any part of the Utilisations or cancel all or any part of the Commitments except at the times and in the manner expressly provided for in this Agreement. 

 

	 	(e)	No amount of the Total Commitments cancelled under this Agreement may be subsequently reinstated (other than in accordance with Clause 2.2 (Increase in Total Commitments)).

  

	 	(f)	If the Agent receives a notice under this Clause 16 it shall promptly forward a copy of that notice to either the Company or the affected Lender or Issuing Bank, as appropriate. 

 

	 	(g)	If all or part of any Lender’s participation is repaid or prepaid and is not available for redrawing (other than by operation of Clause 4.2 (Further conditions precedent)), an
amount of that Lender’s Commitment (equal to the Base Currency Amount of the amount of the participation which is repaid or prepaid) will be deemed to be cancelled on the date of repayment or prepayment. 

  
 - 72 - 

	16.7	Application of prepayments 

 Any prepayment of a Utilisation
pursuant to Clause 16.4 (Voluntary prepayment of Utilisations) shall be applied pro rata to each Lender’s participation in that Utilisation. 

  
 - 73 - 

 SECTION 5 

COSTS OF UTILISATION 
  

	17.	INTEREST 

  

	17.1	Calculation of interest 

 The rate of interest on each Revolving
Facility Loan for each Interest Period is the percentage rate per annum which is the aggregate of the: 
  

	 	(a)	Applicable Margin; and 

  

	 	(b)	LIBOR or, in relation to any Revolving Facility Loan in euro, EURIBOR or, in relation to any Revolving Facility Loan in a Non-LIBOR Currency, the Benchmark Rate for that currency.

  

	17.2	Payment of interest 

 The Borrower to which a Loan has been made
shall pay accrued interest on that Revolving Facility Loan on the last day of each Interest Period (and, if the Interest Period is longer than six Months, on the dates falling at six Monthly intervals after the first day of the Interest Period).

  

	17.3	Default interest 

  

	 	(a)	If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the date of actual payment (both before and after
judgment) at a rate which, subject to paragraph (b) below, is one per cent per annum higher than the rate which would have been payable if the overdue amount had, during the period of non-payment,
constituted a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 17.3 shall be immediately payable by the Obligor on
demand by the Agent. 

  

	 	(b)	If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan: 

 

	 	(i)	the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and 

 

	 	(ii)	the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. per annum higher than the rate which would have applied if the overdue amount had not become due.

  

	 	(c)	Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue amount but will remain immediately due and payable.

  
 - 74 - 

	17.4	Notification of rates of interest 

  

	 	(a)	The Agent shall promptly notify the relevant Lenders and the relevant Borrower of the determination of a rate of interest under this Agreement. 

 

	 	(b)	The Agent shall promptly notify the relevant Borrower of each Funding Rate relating to a Loan. 

  

	18.	INTEREST PERIODS 

  

	18.1	Selection of Interest Periods 

  

	 	(a)	A Borrower (or the Company on behalf of a Borrower) may select an Interest Period for a Loan in the Utilisation Request for that Loan. 

 

	 	(b)	Subject to this Clause 18, a Borrower (or the Company on behalf of a Borrower) may select an Interest Period of (i) any period between one Month and three Months; or (ii) three, six or twelve Months if the
Loan is not in a Non-LIBOR Currency or, if the Loan is in a Non-LIBOR Currency, any period specified in respect of that currency in Schedule 18 (Other
Benchmarks) or, in either case, any other period agreed between a Borrower (or the Company on its behalf) and the Agent (acting on the instructions of all the Lenders in relation to the relevant Loan). 

 

	 	(c)	An Interest Period for a Revolving Facility Loan shall not extend beyond the Termination Date. 

  

	 	(d)	Each Interest Period for a Revolving Facility Loan shall start on the Utilisation Date. 

  

	 	(e)	A Revolving Facility Loan has one Interest Period only. 

  

	18.2	Non-Business Days 

 If an Interest
Period would otherwise end on a day which is not a Business Day, that Interest Period will instead end on the next Business Day in that calendar month (if there is one) or the preceding Business Day (if there is not). 

 

	19.	CHANGES TO THE CALCULATION OF INTEREST 

  

	19.1	Unavailability of Screen Rate 

  

	 	(a)	Interpolated Screen Rate: If no Screen Rate is available for LIBOR or, if applicable, EURIBOR or, if applicable, the Benchmark Rate for the Interest Period of a Loan, the applicable
LIBOR or EURIBOR or Benchmark Rate shall be the Interpolated Screen Rate for a period equal in length to the Interest Period of that Loan. 

  

	 	(b)	Shortened Interest Period: If no Screen Rate is available for LIBOR or, if applicable, EURIBOR or, if applicable, the Benchmark Rate for: 

 

	 	(i)	the currency of a Loan; or 

  
 - 75 - 

	 	(ii)	the Interest Period of a Loan and it is not possible to calculate the Interpolated Screen Rate, 

the Interest Period of that Loan shall (if it is longer than the applicable Fallback Interest Period) be shortened to the applicable Fallback
Interest Period and the applicable LIBOR or EURIBOR or Benchmark Rate for that shortened Interest Period shall be determined pursuant to the relevant definition. 
  

	 	(c)	Shortened Interest Period and Historic Screen Rate: If the Interest Period of a Loan is, after giving effect to paragraph
(b) above, either the applicable Fallback Interest Period or shorter than the applicable Fallback Interest Period and, in either case, no Screen Rate is available for LIBOR or, if applicable, EURIBOR or, if applicable, the Benchmark Rate for:

  

	 	(i)	the currency of that Loan; or 

  

	 	(ii)	the Interest Period of that Loan and it is not possible to calculate the Interpolated Screen Rate, 

the applicable LIBOR or EURIBOR or Benchmark Rate shall be the Historic Screen Rate for that Loan. 

 

	 	(d)	Shortened Interest Period and Interpolated Historic Screen Rate: If paragraph (c) above applies but no
Historic Screen Rate is available for the Interest Period of the Loan, the applicable LIBOR or EURIBOR or Benchmark Rate shall be the Interpolated Historic Screen Rate for a period equal in length to the Interest Period of that Loan.

  

	 	(e)	Reference Bank Rate: If paragraph (d) above applies but it is not possible to calculate the Interpolated Historic Screen Rate, the Interest Period of that Loan shall, if it has
been shortened pursuant to paragraph (b) above, revert to its previous length and the applicable LIBOR or EURIBOR or Benchmark Rate shall be the Reference Bank Rate as of the Specified Time for the currency of that Loan and for a period equal
in length to the Interest Period of that Loan. 

  

	 	(f)	Cost of funds: If paragraph (e) above applies but no Reference Bank Rate is available for the relevant currency or Interest Period there shall be no LIBOR or EURIBOR or Benchmark
Rate for that Loan and Clause 19.4 (Cost of funds) shall apply to that Loan for that Interest Period. 

  

	19.2	Calculation of Reference Bank Rate 

  

	 	(a)	Subject to paragraph (b) below if LIBOR or EURIBOR or a Benchmark Rate is to be determined on the basis of a Reference Bank Rate but a Reference Bank does not supply a quotation by the Specified Time, the Reference
Bank Rate shall be calculated on the basis of the quotations of the remaining Reference Banks. 

  

	 	(b)	If at or about: 

  

	 	(i)	noon on the Quotation Day; or 

  
 - 76 - 

	 	(ii)	in the case of a Benchmark Rate, the time specified in respect of the relevant currency in Schedule 18 (Other Benchmarks), 

none or only one of the Reference Banks supplies a quotation, there shall be no Reference Bank Rate for the relevant Interest Period. 

 

	19.3	Market disruption 

  

	 	If before: 

  

	 	(a)	close of business in London on the Quotation Day for the relevant Interest Period; or 

  

	 	(b)	in the case of a Loan in a Non-LIBOR Currency, the time specified in respect of that currency in Schedule 18 (Other Benchmarks), 

the Agent receives notifications from a Lender or Lenders (whose participations in a Loan exceed 45 per cent. of that Loan) that the cost
to it of funding its participation in that Loan from whatever source it may reasonably select would be in excess of LIBOR or, if applicable, EURIBOR, or, if applicable, the Benchmark Rate, then Clause 19.4 (Cost of funds) shall apply
to that Loan for the relevant Interest Period. 
  

	19.4	Cost of funds 

  

	 	(a)	If this Clause 19.4 applies, the rate of interest on each Lender’s share of the relevant Loan for the relevant Interest Period shall be the percentage rate per annum which is the sum of: 

 

	 	(i)	the Applicable Margin; and 

  

	 	(ii)	the rate notified to the Agent by that Lender as soon as practicable and in any event before interest is due to be paid in respect of that Interest Period, to be that which expresses as a percentage rate per annum the
cost to the relevant Lender of funding its participation in that Loan from whatever source it may reasonably select. 

  

	 	(b)	If this Clause 19.4 applies and the Agent or the Company so requires, the Agent and the Company shall enter into negotiations (for a period of not more than 30 days) with a view to agreeing a substitute basis for
determining the rate of interest. 

  

	 	(c)	Any alternative basis agreed pursuant to paragraph (b) above shall, with the prior consent of all the Lenders and the Company, be binding on all Parties. 

 

	 	(d)	If this Clause 19.4 applies pursuant to Clause 19.3 (Market disruption) and: 

  

	 	(i)	a Lender’s Funding Rate is less than LIBOR or, in relation to any Loan in euro, EURIBOR or, in relation to any Loan in a Non-LIBOR Currency, the Benchmark Rate; or

  

	 	(ii)	a Lender does not supply a quotation by the time specified in paragraph (a)(ii) above, 

  
 - 77 - 

 the cost to that Lender of funding its participation in that Loan for that Interest Period shall
be deemed, for the purposes of paragraph (a) above, to be LIBOR or, in relation to a Loan in euro, EURIBOR or, in relation to a Loan in a Non- LIBOR Currency, the Benchmark Rate. 

 

	 	(e)	If this Clause 19.4 applies pursuant to Clause 19.1 (Unavailability of Screen Rate) but any Lender does not supply a quotation by the time specified in paragraph (a)(ii)
above the rate of interest shall be calculated on the basis of the quotations of the remaining Lenders. 

  

	19.5	Notification to Company 

 If Clause 19.4 (Cost of
funds) applies or if LIBOR, EURIBOR or a Benchmark Rate is to be determined on the basis of a Reference Bank Rate the Agent shall, as soon as is practicable, notify the Company. 

 

	19.6	Break Costs 

  

	 	(a)	Each Borrower shall, within 5 Business Days of demand by a Finance Party, pay to that Finance Party its Break Costs attributable to all or any part of a Loan or Unpaid Sum being paid by that Borrower on a day other than
the last day of an Interest Period for that Loan or Unpaid Sum. 

  

	 	(b)	Each Lender shall, as soon as reasonably practicable after a demand by the Agent, provide to the Agent for the Company a certificate confirming the details and amount of any Break Costs claimed by it under this Clause
19.6 for any Interest Period in which they accrue. 

  

	20.	FEES 

  

	20.1	Commitment fee 

  

	 	(a)	The Company shall pay to the Agent (for the account of each Lender) a fee in the Base Currency computed at the rate of 35 per cent. per annum of the Applicable Margin on that Lender’s Available Commitment from
the date of this Agreement until the last day of the Availability Period. For the purposes of commitment fee only, (i) the Available Commitment of each Lender (other than a Lender that is an Affiliate of a Swingline Lender) shall be increased
by the amount of its deemed participation in any Swingline Loan that is not funded and has not been requested to be funded and (ii) the Available Commitment of a Lender that is an Affiliate of a Swingline Lender shall be decreased by the amount
of any Swingline Loan funded by it. 

  

	 	(b)	The accrued commitment fee is payable (i) on the last day of each successive period of three Months which ends during the period beginning on the date of this Agreement and ending on the last day of the
Availability Period, (ii) on the last day of the Availability Period and, (iii) if cancelled in full, on the cancelled amount of the relevant Lender’s Commitment at the time the cancellation is effective. 

  
 - 78 - 

	20.2	Utilisation fees 

  

	 	(a)	The Company shall pay to the Agent (subject to paragraph (e) of Clause 10.4 (Interest) and paragraph (d) of Clause 13.4 (Interest), for the account of each Lender) a utilisation fee in US Dollars
computed at a rate of: 

  

	 	(i)	0.075 per cent. per annum on the aggregate Base Currency Amount of the Utilisations hereunder for each day on which such amount is greater than 0 per cent. but less than or equal to 33.33 per cent. of the
Total Commitments; 

  

	 	(ii)	0.15 per cent. per annum on the aggregate Base Currency Amount of the Utilisations hereunder for each day on which such amount is greater than 33.33 per cent. but less than or equal to 66.66 per cent. of
the Total Commitments; and 

  

	 	(iii)	0.30 per cent. per annum on the aggregate Base Currency Amount of the Utilisations for each day on which such amount is greater than 66.66 per cent. of the Total Commitments. 

 

	 	(b)	The accrued utilisation fee is payable on the last day of each successive period of three Months commencing on the date falling three Months after the date of this Agreement. 

 

	20.3	Arrangement fee 

 The Company shall pay to the Agent (for account of the Arranger) an
arrangement fee in the amount and at the times agreed in a Fee Letter. 
  

	20.4	Agency fee 

 The Company shall pay to the Agent (for its own account) an
agency fee in the amount and at the times agreed in a Fee Letter. 
 SECTION 6 

ADDITIONAL PAYMENT OBLIGATIONS 
  

	21.	TAX GROSS UP AND INDEMNITIES 

  

	21.1	Definitions 

  

	 	(a)	In this Agreement: 

 “Belgian Qualifying Lender” means, in respect of any
interest payment made under the Finance Documents by a Belgian Obligor, a Lender which is beneficially entitled to interest payable to it and which can receive such interest without a Tax Deduction due to being: 

 

	 	(i)	a “professional investor” (investisseur professionel/beroepsbelegger), as defined under Article 105, 3° of the Belgian Royal Decree implementing the Belgian Income Tax Code 1992
(“RD ITC 1992”); 

  
 - 79 - 

	 	(ii)	a credit institution within the meaning of article 105, 1°, a) of RD ITC 1992, which is a company resident for tax purposes in Belgium or which is acting through a permanent establishment in Belgium;

  

	 	(iii)	a credit institution within the meaning of article 107, §2, 5, a) second dash of RD ITC 1992, that is acting through its head office and is resident for tax purposes in a country with which Belgium has entered into
a double taxation agreement that is in force (irrespective of whether or not the double taxation agreement makes provision for exemption from tax imposed by Belgium) or in a country which is a member state of the European Economic Area;

  

	 	(iv)	a credit institution within the meaning of article 107, §2, 5, a) second dash of RD ITC 1992, that is acting through a permanent establishment which (i) itself qualifies as a credit institution within the
meaning of the aforementioned article 107, §2, 5, a) second dash and (ii) is located in a country with which Belgium has entered into a double taxation agreement that is in force (irrespective of whether or not the double taxation
agreement makes provision for exemption from tax imposed by Belgium) or in a country which is a member state of the European Economic Area; or 

  

	 	(v)	a Belgian Treaty Lender. 

 “Belgian Treaty Lender” means in respect of each
Obligor, a Lender which: 
  

	 	(i)	is treated as a resident (as defined in the appropriate double taxation agreement) of a country with which Belgium has concluded a double taxation agreement (that is in force) giving residents of that country exemption
from Belgian withholding tax on interest; 

  

	 	(ii)	does not carry on a business in Belgium through a permanent establishment with which the payment or Loan is effectively connected; and 

 

	 	(iii)	fulfils any conditions which must be fulfilled under the appropriate double taxation agreement for residents of that country to obtain exemption from Belgian taxation on interest (subject to the completion of any
necessary procedural formalities). 

 “Protected Party” means a Finance Party which is or will be subject to
any liability, or required to make any payment, for or on account of Tax in relation to a sum received or receivable (or any sum deemed for the purposes of Tax to be received or receivable) under a Finance Document. 

“Tax Credit” means a credit against, relief or remission for, or repayment of any Tax. 

“Tax Deduction” means a deduction or withholding for or on account of Tax from a payment under a Finance Document, other than
a FATCA Deduction. 

  
 - 80 - 

 “Tax Payment” means either the increase in a payment made by an Obligor to a
Finance Party under Clause 21.2 (Tax gross-up) or a payment under Clause 21.3 (Tax indemnity). 
  

	 	(b)	Unless a contrary indication appears, in this Clause 21 a reference to “determines” or “determined” means a determination made in the absolute discretion of the person making the determination.

  

	21.2	Tax gross-up 

  

	 	(a)	Each Obligor shall make all payments to be made by it without any Tax Deduction, unless a Tax Deduction is required by law. 

  

	 	(b)	The Company shall promptly upon becoming aware that an Obligor must make a Tax Deduction (or that there is any change in the rate or the basis of a Tax Deduction) notify the Agent accordingly. Similarly, a Lender shall
notify the Agent on becoming so aware in respect of a payment payable to that Lender. If the Agent receives such notification from a Lender it shall promptly notify the Company and that Obligor. 

 

	 	(c)	Subject to the limitations and exclusions herein, if a Tax Deduction is required by law to be made by an Obligor, the amount of the payment due from that Obligor shall be increased to an amount which (after making any
Tax Deduction) leaves an amount equal to the payment which would have been due if no Tax Deduction had been required. 

  

	 	(d)	A payment by an Obligor shall not be increased under paragraph (c) above by reason of a Tax Deduction if: 

  

	 	(i)	with respect to payments made by or on behalf of a U.S. Borrower, to the extent that such Tax Deduction is required as a result of such Lender’s failure to comply with its obligation under paragraph (a) of
Clause 21.7 (Filings); 

  

	 	(ii)	with respect to any other payments to the extent that such Tax Deduction is required as a result of such Lender’s failure to comply with its obligations under paragraph (b) of Clause 21.7 (Filings);

  

	 	(iii)	in relation to a payment made by a Belgian Obligor, on the date on which the payment falls due, the payment could have been made to the relevant Lender without a Tax Deduction if the Lender had been a Belgian Qualifying
Lender but on that date that Lender is not or has ceased to be a Belgian Qualifying Lender, other than as a result of any change after the date it became a Lender under this Agreement in (or in the interpretation, administration or application of)
any law or double taxation agreement; or 

  

	 	(iv)	in relation to a payment made by a Belgian Obligor, on the date on which the payment falls due, the relevant Lender is a Belgian Treaty Lender and the Belgian Obligor making the payment is able to demonstrate that the
payment could have been made to the Lender without the Tax Deduction had that Lender complied with its obligations under paragraph (b) of Clause 21.7 (Filings). 

  
 - 81 - 

	 	(e)	If an Obligor is required to make a Tax Deduction, that Obligor shall make that Tax Deduction and any payment required in connection with that Tax Deduction within the time allowed and in the minimum amount required by
law. 

  

	 	(f)	Within 30 days of making either a Tax Deduction or any payment required in connection with that Tax Deduction, the Obligor making that Tax Deduction shall deliver to the Agent for the Finance Party entitled to the
payment evidence reasonably satisfactory to that Finance Party that the Tax Deduction has been made or (as applicable) any appropriate payment paid to the relevant taxing authority. 

 

	21.3	Tax indemnity 

  

	 	(a)	The Company shall (within 3 Business Days of demand by the Agent) pay to a Protected Party an amount equal to the loss, liability or cost which that Protected Party determines will be or has been (directly or
indirectly) suffered for or on account of Tax by that Protected Party in respect of a Finance Document or the transaction occurring under such Finance Document. 

  

	 	(b)	Paragraph (a) above shall not apply: 

  

	 	(i)	with respect to any Tax assessed on a Finance Party: 

  

	 	(A)	under the law of the jurisdiction in which that Finance Party is incorporated or, if different, the jurisdiction (or jurisdictions) in which that Finance Party is treated as resident for tax purposes; or

  

	 	(B)	under the law of the jurisdiction in which that Finance Party’s Facility Office is located in respect of amounts received or receivable in that jurisdiction, 

if that Tax is imposed on or calculated by reference to the net income received or receivable (but not any sum deemed to be received or
receivable) by that Finance Party; or 
  

	 	(ii)	to the extent a loss, liability or cost: 

  

	 	(A)	is compensated for by an increased payment under Clause 21.2 (Tax gross-up); 

  

	 	(B)	is attributable to the UK Bank Levy but only in respect of amounts for which a Lender is liable as at the date of this Agreement; 

  

	 	(C)	would have been compensated for by an increased payment under Clause 21.2 (Tax gross-up) but was not so compensated solely because one of the exclusions in
paragraph (d) of Clause 21.2 (Tax gross-up) applied; or 

  
 - 82 - 

	 	(D)	relates to a FATCA Deduction required to be made by a Party. 

  

	 	(c)	A Protected Party making, or intending to make a claim under paragraph (a) above shall promptly notify the Agent of the event which will give, or has given, rise to the claim, following which the Agent shall notify
the Company. 

  

	 	(d)	A Protected Party shall, on receiving a payment from an Obligor under this Clause 21.3, notify the Agent. 

  

	21.4	Tax Credit 

 If an Obligor makes a Tax Payment and the relevant Finance Party
determines that: 
  

	 	(a)	a Tax Credit is attributable either to an increased payment of which that Tax Payment forms part, or to that Tax Payment; and 

  

	 	(b)	that Finance Party has obtained, utilised and retained that Tax Credit, 

 the Finance Party
shall pay an amount to the Obligor which that Finance Party reasonably determines will leave it (after that payment) in the same after-Tax position as it would have been in had the Tax Payment not been
required to be made by the Obligor. 
  

	21.5	Lender Status 

 Any Lender, New Lender, or any other recipient of any payment under any
Finance Document which is or becomes tax resident of a Non-Cooperative Jurisdiction or, as the case may be, acts or will act through a Facility Office, with which the relevant Utilisation is effectively
connected, located in a Non-Cooperative Jurisdiction, shall use its best efforts to provide, in a timely manner, information reasonably demonstrating that it cannot be considered as an artificial construction
within the meaning of article 198, §1, 10° of the Belgian Income Tax Code 1992 if and when a Belgian Obligor is requested thereto by the Belgian tax authorities or upon reasonable request of the Company or the Belgian Obligor, in each case
in order to complete its income tax return. 
  

	21.6	Stamp taxes 

 The Company shall pay and, within 3 Business Days of demand,
indemnify each Finance Party against any cost, loss or liability that Finance Party incurs in relation to all stamp duty, registration, excise and other similar Taxes payable in respect of any Finance Document or the transactions occurring under any
of them (excluding, for the avoidance of doubt, any such Tax arising in connection with an assignment or transfer by that Lender of its rights or obligations under any Finance Document). 

 

	21.7	Filings 

  

	 	(a)	Prior to becoming a Party to this Agreement, each Lender will provide the Agent with, as relevant, an original executed: 

  
 - 83 - 

	 	(i)	IRS Form W-9 (or any successor form); 

  

	 	(ii)	IRS Form W-8ECI (or any successor form); 

  

	 	(iii)	IRS Form W-8BEN or W-8BEN-E (or any successor form) establishing a complete exemption under an
applicable treaty from a Tax Deduction for U.S. withholding Taxes on all payments made pursuant to this Agreement; 

  

	 	(iv)	IRS Form W-8BEN or W-8BEN-E (or any successor form) along with a statement certifying that such
Lender is not: 

  

	 	(A)	a “bank” within the meaning of Section 881(c)(3)(A) of the Code; 

  

	 	(B)	a “10 per cent. shareholder” of a Borrower within the meaning of Section 881(c)(3)(B) of the Internal Revenue Code; or 

 

	 	(C)	a “controlled foreign corporation” that is related to a Borrower within the meaning of Section 881(c)(3)(C) of the Code; or 

 

	 	(v)	such other IRS forms or certifications that establish that the Lender is entitled to a complete exemption from a Tax Deduction for U.S. withholding Taxes on all payments made pursuant to this Agreement.

  

	 	(b)	A Belgian Qualifying Lender and each Obligor which makes a payment to which that Belgian Qualifying Lender is entitled shall co-operate in completing any procedural formalities
necessary for that Obligor to obtain authorisation to make that payment with the minimum possible Tax Deduction. 

  

	21.8	VAT 

  

	 	(a)	All amounts expressed to be payable under a Finance Document by any Party to a Finance Party which (in whole or in part) constitute the consideration for any supply for VAT purposes are deemed to be exclusive of any VAT
which is chargeable on that supply, and accordingly, subject to paragraph (b) below, if VAT is or becomes chargeable on any supply made by any Finance Party to any Party under a Finance Document and such Finance Party is required to account to
the relevant tax authority for the VAT, that Party must pay to such Finance Party (in addition to and at the same time as paying any other consideration for such supply) an amount equal to the amount of the VAT (and such Finance Party must promptly
provide an appropriate VAT invoice to that Party). 

  
 - 84 - 

	 	(b)	If VAT is or becomes chargeable on any supply made by any Finance Party (the “Supplier”) to any other Finance Party (the “Recipient”) under a Finance Document, and any Party other than
the Recipient (the “Relevant Party”) is required by the terms of any Finance Document to pay an amount equal to the consideration for that supply to the Supplier (rather than being required to reimburse or indemnify
the Recipient in respect of that consideration): 

  

	 	(i)	(where the Supplier is the person required to account to the relevant tax authority for the VAT) the Relevant Party must also pay to the Supplier (at the same time as paying that amount) an additional amount equal to
the amount of the VAT. The Recipient must (where this paragraph (i) applies) promptly pay to the Relevant Party an amount equal to any credit or repayment the Recipient receives from the relevant tax authority which the Recipient reasonably
determines relates to the VAT chargeable on that supply; and 

  

	 	(ii)	(where the Recipient is the person required to account to the relevant tax authority for the VAT) the Relevant Party must promptly, following demand from the Recipient, pay to the Recipient an amount equal to the VAT
chargeable on that supply but only to the extent that the Recipient reasonably determines that it is not entitled to credit or repayment from the relevant tax authority in respect of that VAT. 

 

	 	(c)	Where a Finance Document requires any Party to reimburse or indemnify a Finance Party for any cost or expense, that Party shall reimburse or indemnify (as the case may be) such Finance Party for the full amount of such
cost or expense, including such part thereof as represents VAT, save to the extent that such Finance Party reasonably determines that it is entitled to credit or repayment in respect of such VAT from the relevant tax authority. 

 

	 	(d)	Any reference in this Clause 21.8 to any Party shall, at any time when such Party is treated as a member of a group for VAT purposes, include (where appropriate and unless the context otherwise requires) a reference to
the representative member of such group at such time (the term “representative member” to have the same meaning as in the Value Added Tax Act 1994). 

  

	 	(e)	In relation to any supply made by a Finance Party to any Party under a Finance Document, if reasonably requested by such Finance Party, that Party must promptly provide such Finance Party with details of that
Party’s VAT registration and such other information as is reasonably requested in connection with such Finance Party’s VAT reporting requirements in relation to such supply. 

 

	21.9	Survival of obligations 

 Without prejudice to the survival of any
other section of this Agreement, the agreements and obligations of each Obligor and each Finance Party contained in this Clause 21 shall survive the payment in full by the Obligors of all obligations under this Agreement and the termination of this
Agreement. 

  
 - 85 - 

	21.10	FATCA information 

  

	 	(a)	Subject to paragraph (c) below, each Party shall, within 10 Business Days of a reasonable request by another Party: 

  

	 	(i)	confirm to that other Party whether it is: 

  

	 	(A)	a FATCA Exempt Party; or 

  

	 	(B)	not a FATCA Exempt Party; 

  

	 	(ii)	supply to that other Party such forms, documentation and other information relating to its status under FATCA as that other Party reasonably requests for the purposes of that other Party’s compliance with FATCA;
and 

  

	 	(iii)	supply to that other Party such forms, documentation and other information relating to its status as that other Party reasonably requests for the purposes of that other Party’s compliance with any other law,
regulation, or exchange of information regime. 

  

	 	(b)	If a Party confirms to another Party pursuant to paragraph (a)(i) above that it is a FATCA Exempt Party and it subsequently becomes aware that it is not, or has ceased to be a FATCA Exempt Party, that Party shall notify
that other Party reasonably promptly. 

  

	 	(c)	Paragraph (a) above shall not oblige any Finance Party to do anything, and paragraph (a)(iii) above shall not oblige any other Party to do anything, which would or might in its reasonable opinion constitute a
breach of: 

  

	 	(i)	any law or regulation; 

  

	 	(ii)	any fiduciary duty; or 

  

	 	(iii)	any duty of confidentiality. 

  

	 	(d)	If a Party fails to confirm whether or not it is a FATCA Exempt Party or to supply forms, documentation or other information requested in accordance with paragraph (a)(i) or (a)(ii) above (including, for the avoidance
of doubt, where paragraph (c) above applies), then such Party shall be treated for the purposes of the Finance Documents (and payments under them) as if it is not a FATCA Exempt Party until such time as the Party in question provides the
requested confirmation, forms, documentation or other information. 

  

	 	(e)	If a Borrower is a U.S. Tax Obligor, or the Agent reasonably believes that its obligations under FATCA or any other applicable law or regulation require it, each Lender shall, within 10 Business Days of:

  

	 	(i)	where an Original Borrower is a U.S. Tax Obligor and the relevant Lender is an Original Lender, the Effective Date; 

  
 - 86 - 

	 	(ii)	where a Borrower is a U.S. Tax Obligor on a Transfer Date or date on which an increase in Commitments takes effect pursuant to Clause 2.2 (Increase in Total Commitments)
and the relevant Lender is a New Lender or a Further Lender, the relevant Transfer Date or date on which the relevant increase in Commitments takes effect pursuant to Clause 2.2 (Increase in Total Commitments);

  

	 	(iii)	the date a new U.S. Tax Obligor accedes as a Borrower; or 

  

	 	(iv)	where a Borrower is not a U.S. Tax Obligor, the date of a request from the Agent, 

 supply to
the Agent: 
  

	 	(A)	a withholding certificate on Form W-8, Form W-9 or any other relevant form; or 

 

	 	(B)	any withholding statement or other document, authorisation or waiver as the Agent may require to certify or establish the status of such Lender under FATCA or that other law or regulation. 

 

	 	(f)	The Agent shall provide any withholding certificate, withholding statement, document, authorisation or waiver it receives from a Lender pursuant to paragraph (e) above to the relevant Borrower. 

 

	 	(g)	If any withholding certificate, withholding statement, document, authorisation or waiver provided to the Agent by a Lender pursuant to paragraph (e) above is or becomes materially inaccurate or incomplete, that
Lender shall promptly update it and provide such updated withholding certificate, withholding statement, document, authorisation or waiver to the Agent unless it is unlawful for the Lender to do so (in which case the Lender shall promptly notify the
Agent). The Agent shall provide any such updated withholding certificate, withholding statement, document, authorisation or waiver to the relevant Borrower. 

  

	 	(h)	The Agent may rely on any withholding certificate, withholding statement, document, authorisation or waiver it receives from a Lender pursuant to paragraph (e) or (g) above without further verification. The Agent
shall not be liable for any action taken by it under or in connection with paragraph (e), (f) or (g) above. 

  

	21.11	FATCA Deduction 

  

	 	(a)	Each Party may make any FATCA Deduction it is required to make by FATCA, and any payment required in connection with that FATCA Deduction, and no Party shall be required to increase any payment in respect of which it
makes such a FATCA Deduction or otherwise compensate the recipient of the payment for that FATCA Deduction. 

  

	 	(b)	Each Party shall promptly, upon becoming aware that it must make a FATCA Deduction (or that there is any change in the rate or the basis of such FATCA Deduction), notify the Party to whom it is making the payment and,
in addition, shall notify the Company and the Agent and the Agent shall notify the other Finance Parties. 

  
 - 87 - 

	22.	INCREASED COSTS 

  

	22.1	Increased costs 

  

	 	(a)	Subject to Clause 22.3 (Exceptions) the Company shall, within 5 Business Days of a demand by the Agent, pay for the account of a Finance Party the amount of any Increased Costs incurred by that Finance Party or
any of its Affiliates as a result of: 

  

	 	(i)	the introduction of or any change in (or in the interpretation, administration or application of) any law or regulation after the date of this Agreement; 

 

	 	(ii)	compliance with any law or regulation made after the date of this Agreement; or 

  

	 	(iii)	the implementation or application of, or compliance with, Basel III or CRD IV any law or regulation that implements or applies Basel III or CRD IV. 

 

	 	(b)	In this Agreement: 

  

	 	(i)	“Increased Costs” means: 

  

	 	(A)	a reduction in the rate of return from the Facility or on a Finance Party’s (or its Affiliate’s) overall capital; 

  

	 	(B)	an additional or increased cost; or 

  

	 	(C)	a reduction of any amount due and payable under any Finance Document, 

 which is incurred or
suffered by a Finance Party or any of its Affiliates to the extent that it is attributable to that Finance Party having entered into its Commitment or funding or performing its obligations under any Finance Document or Letter of Credit; 

 

	 	(ii)	“Basel III” means: 

  

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

  
 - 88 - 

	 	(B)	the rules for global systemically important banks contained in “Global systemically important banks: assessment methodology and the additional loss absorbency requirement – Rules text” published by the
Basel Committee on Banking Supervision in November 2011, as amended, supplemented or restated; and 

  

	 	(C)	any further guidance or standards published by the Basel Committee on Banking Supervision relating to “Basel III”; and 

  

	 	(iii)	“CRD IV” means: 

  

	 	(A)	Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms; and 

 

	 	(B)	Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending
Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC. 

  

	22.2	Increased cost claims 

  

	 	(a)	A Finance Party intending to make a claim pursuant to Clause 22.1 (Increased costs) shall notify the Agent of the event giving rise to the claim, following which the Agent shall promptly notify the
Company. 

  

	 	(b)	Each Finance Party shall, as soon as practicable after a demand by the Agent, provide a certificate confirming the amount of its Increased Costs. 

 

	22.3	Exceptions 

  

	 	(a)	Clause 22.1 (Increased costs) does not apply to the extent any Increased Cost is: 

  

	 	(i)	attributable to a Tax Deduction required by law to be made by an Obligor; 

  

	 	(ii)	compensated for by Clause 21.3 (Tax indemnity) (or would have been compensated for under Clause 21.3 (Tax indemnity) but was not so compensated solely because any of the
exclusions in paragraph (b) of Clause 21.3 (Tax indemnity) applied); 

  

	 	(iii)	attributable to a FATCA Deduction required to be made by a Party; 

  

	 	(iv)	attributable to the wilful breach by the relevant Finance Party or its Affiliates of any law or regulation; or 

  

	 	(v)	attributable to the implementation or application of or compliance with the “International Convergence of Capital Measurement and Capital Standards, a Revised Framework” published by the Basel Committee on
Banking Supervision in June 2004 in the form existing on the date 

  
 - 89 - 

	 	of this Agreement (but excluding any amendment arising out of Basel III or CRD IV) (“Basel II”) or any other law or regulation which implements Basel II (whether such implementation, application or
compliance is by a government, regulator, Finance Party or any of its Affiliates). 

  

	 	(b)	In this Clause 22.3, a reference to a “Tax Deduction” has the same meaning given to the term in Clause 21.1 (Definitions). 

 

	23.	OTHER INDEMNITIES 

  

	23.1	Currency indemnity 

  

	 	(a)	If any sum due from an Obligor under the Finance Documents (a “Sum”), or any order, judgment or award given or made in relation to a Sum, has to be converted from the currency (the “First
Currency”) in which that Sum is payable into another currency (the “Second Currency”) for the purpose of: 

  

	 	(i)	making or filing a claim or proof against that Obligor; 

  

	 	(ii)	obtaining or enforcing an order, judgment or award in relation to any litigation or arbitration proceedings, 

that Obligor shall as an independent obligation, within 3 Business Days of demand, indemnify each Finance Party to whom that Sum is due
against any cost, loss or liability arising out of or as a result of the conversion including any discrepancy between (A) the rate of exchange used to convert that Sum from the First Currency into the Second Currency and (B) the rate or
rates of exchange available to that person at the time of its receipt of that Sum. 
  

	 	(b)	Unless otherwise required by law, each Obligor waives any right it may have in any jurisdiction to pay any amount under the Finance Documents in a currency or currency unit other than that in which it is expressed to be
payable. 

  

	23.2	Other indemnities 

 The Company shall (or shall procure that an Obligor will), within 3
Business Days of demand, indemnify each Finance Party against any cost, loss or liability incurred by that Finance Party as a result of: 
  

	 	(a)	the occurrence of any Event of Default; 

  

	 	(b)	a failure by an Obligor to pay any amount due under a Finance Document on its due date, including without limitation, any cost, loss or liability arising as a result of Clause 36 (Sharing among
the Finance Parties); 

  

	 	(c)	funding, or making arrangements to fund, its participation in a Utilisation requested by a Borrower in a Utilisation Request but not made by reason of the operation of any one or more of the provisions of this Agreement
(other than by reason of default or negligence by that Finance Party alone); 

  
 - 90 - 

	 	(d)	a Utilisation (or part of a Utilisation) not being prepaid in accordance with a notice of prepayment given by a Borrower or the Company; or 

 

	 	(e)	issuing or making arrangements to issue a Letter of Credit or Subsequent Letter of Credit requested by a Borrower in a Utilisation Request but not made by reason of the operation of any one or more of the provisions of
this Agreement (other than by reason of default or negligence by that Finance Party alone). 

  

	23.3	Indemnity to the Agent 

 The Company shall promptly
indemnify the Agent against any cost, loss or liability in an amount certified by it in reasonable detail incurred by the Agent (acting reasonably) as a result of: 
  

	 	(a)	investigating any event which it reasonably believes is a Default; 

  

	 	(b)	acting or relying on any notice, request or instruction which it reasonably believes to be genuine, correct and appropriately authorised; or 

 

	 	(c)	instructing lawyers, accountants, tax advisers, surveyors or other professional advisers or experts as permitted under this Agreement. 

 

	24.	MITIGATION BY THE LENDERS 

  

	24.1	Mitigation 

  

	 	(a)	Each Finance Party shall, in consultation with the Company, take all reasonable steps to mitigate any circumstances which arise and which would result in any amount becoming payable under or pursuant to, or cancelled
pursuant to, any of Clause 16.1 (Illegality), Clause 21 (Tax Gross Up and Indemnities) or Clause 22 (Increased Costs) or which would result in any amount
payable under a Finance Document by a Belgian Obligor not being deductible from that Obligor’s taxable income for Belgian tax purposes by reason of that amount being (A) paid or accrued to a Finance Party incorporated, resident,
established or acting through a Facility Office established in a Non-Cooperative Jurisdiction or (B) paid to an account opened in the name of or for the benefit of that Finance Party in a financial
institution established in a Non-Cooperative Jurisdiction, including (but not limited to) transferring its rights and obligations under the Finance Documents to another Affiliate, Facility Office or Designated
Entity. 

  

	 	(b)	Paragraph (a) above does not in any way limit the obligations of any Obligor under the Finance Documents. 

  

	24.2	Limitation of liability 

  

	 	(a)	The Company shall promptly indemnify each Finance Party for all costs and expenses reasonably incurred by that Finance Party in an amount certified by it in reasonable detail as a result of steps taken by it under
Clause 24.1 (Mitigation). 

  
 - 91 - 

	 	(b)	A Finance Party is not obliged to take any steps under Clause 24.1 (Mitigation) if, in the opinion of that Finance Party (acting reasonably), to do so might be prejudicial to it. 

 

	25.	COSTS AND EXPENSES 

  

	25.1	Transaction expenses 

 The Company shall promptly on demand pay the Agent
and the Coordinator the amount of all costs and expenses (including legal fees) reasonably incurred by either of them in an amount certified by it in reasonable detail in connection with the negotiation, preparation, printing, execution and
syndication of: 
  

	 	(a)	this Agreement and any other documents referred to in this Agreement; and 

  

	 	(b)	any other Finance Documents executed after the date of this Agreement, 

 subject to a cap of
USD15,000 (excluding legal fees). 
  

	25.2	Amendment costs 

 If (a) an Obligor requests an amendment, waiver or consent or
(b) an amendment is required pursuant to Clause 37.9 (Change of currency), the Company shall, within 3 Business Days of demand, reimburse the Agent for the amount of all costs and expenses (including legal fees) reasonably incurred by
the Agent in an amount certified by it in reasonable detail in responding to, evaluating, negotiating or complying with that request or requirement. 
  

	25.3	Enforcement costs 

 The Company shall, within 3 Business Days of demand,
pay to each Finance Party the amount of all costs and expenses (including legal fees) incurred by it in an amount certified by it in reasonable detail in connection with the enforcement of, or the preservation of any rights under, any Finance
Document. 

  
 - 92 - 

 SECTION 7 

GUARANTEE 
  

	26.	GUARANTEE AND INDEMNITY 

  

	26.1	Guarantee and indemnity 

 Each Guarantor irrevocably and unconditionally
jointly and severally: 
  

	 	(a)	guarantees to each Finance Party punctual performance by each Borrower of all that Borrower’s obligations under the Finance Documents (including, without limitation, all amounts which, but for any U.S. Debtor
Relief Law, would become due and payable and all interest accruing after the commencement of any proceeding under a U.S. Debtor Relief Law at the rate provided for in the relevant Finance Document, whether or not allowed in any such proceeding);

  

	 	(b)	undertakes with each Finance Party that whenever a Borrower does not pay any amount when due under or in connection with any Finance Document, that Guarantor shall immediately on demand pay that amount as if it was the
principal obligor; and 

  

	 	(c)	agrees with each Finance Party that if any obligation guaranteed by it is or becomes unenforceable, invalid or illegal it will, as an independent and primary obligation, indemnify that Finance Party immediately on
demand against any cost, loss or liability it incurs as a result of a Borrower not paying any amount which would, but for such unenforceability, invalidity or illegality, have been payable by it under any Finance Document on the date when it would
have been due. The amount payable by a Guarantor under this indemnity will not exceed the amount it would have had to pay under this Clause 26 if the amount claimed had been recoverable on the basis of a guarantee. 

Notwithstanding anything to the contrary herein, upon any Automatic Acceleration Event, any presentment, demand, protest or notice of any kind
required by the foregoing Clauses are expressly waived. 
  

	26.2	Continuing guarantee 

 This guarantee is a continuing guarantee and will
extend to the ultimate balance of sums payable by any Borrower under the Finance Documents, regardless of any intermediate payment or discharge in whole or in part. 
  

	26.3	Reinstatement 

 If any discharge, release or arrangement (whether in respect of the
obligations of any Obligor or any security for those obligations or otherwise) is made by a Finance Party in whole or in part on the basis of any payment, security or other disposition which is avoided or must be restored in insolvency, liquidation,
administration or otherwise, without limitation, then the liability of each Guarantor under this Clause 26 will continue or be reinstated as if the discharge, release or arrangement had not occurred. 

  
 - 93 - 

	26.4	Waiver of defences 

 The obligations of each Guarantor under this
Clause 26 will not be affected by any act, omission, matter or thing which, but for this Clause 26.4, would reduce, release or prejudice any of its obligations under this Clause 26 (without limitation and whether or not known to it or any Finance
Party) including: 
  

	 	(a)	any time, waiver or consent granted to, or composition with, any Obligor or other person; 

  

	 	(b)	the release of any other Obligor or any other person under the terms of any composition or arrangement with any creditor of any member of the Group; 

 

	 	(c)	the taking, variation, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up or enforce, any rights against, or security over assets of, any Obligor or other person or any non-presentation or non-observance of any formality or other requirement in respect of any instrument or any failure to realise the full value of any security; 

 

	 	(d)	any incapacity or lack of power, authority or legal personality of or dissolution or change in the members or status of an Obligor or any other person; 

 

	 	(e)	any amendment, novation, supplement, extension, restatement (however fundamental and whether or not more onerous) or replacement of any Finance Document or any other document or security including without limitation any
change in the purpose of, any extension of, or any increase in, any facility or the addition of any new facility under any Finance Document or other document or security; 

 

	 	(f)	any unenforceability, illegality or invalidity of any obligation of any person under any Finance Document or any other document or security; or 

 

	 	(g)	any insolvency or similar proceedings. 

  

	26.5	Immediate recourse 

 Each Guarantor waives any right it may have of first
requiring any Finance Party (or any trustee or agent on its behalf) to proceed against or enforce any other rights or security or claim payment from any person before claiming from that Guarantor under this Clause 26. This waiver applies
irrespective of any law or any provision of a Finance Document to the contrary. 
  

	26.6	Appropriations 

 Until all amounts which may be or become payable by the Obligors under
or in connection with the Finance Documents have been irrevocably paid in full, each Finance Party (or any trustee or agent on its behalf) may: 
  

	 	(a)	refrain from applying or enforcing any other moneys, security or rights held or received by that Finance Party (or any trustee or agent on its behalf) in respect of those amounts, or apply and enforce the same in such
manner and order as it sees fit (whether against those amounts or otherwise) and no Guarantor shall be entitled to the benefit of the same; and 

  
 - 94 - 

	 	(b)	hold in an interest-bearing suspense account any moneys received from any Guarantor or on account of any Guarantor’s liability under this Clause 26. 

 

	26.7	Deferral of Guarantors’ rights 

 Until all
amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full and unless the Agent otherwise directs, no Guarantor will exercise any rights which it may have by reason of
performance by it of its obligations under the Finance Documents or by reason of any amount being payable, or liability arising, under this Clause 26: 
  

	 	(a)	to be indemnified by an Obligor; 

  

	 	(b)	to claim any contribution from any other guarantor of any Obligor’s obligations under the Finance Documents; 

  

	 	(c)	to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Finance Parties under the Finance Documents or of any other guarantee or security taken pursuant to, or in
connection with, the Finance Documents by any Finance Party; 

  

	 	(d)	to bring legal or other proceedings for an order requiring any Obligor to make any payment, or perform any obligation, in respect of which any Guarantor has given a guarantee, undertaking or indemnity under Clause 26.1
(Guarantee and indemnity); 

  

	 	(e)	to exercise any right of set-off against any Obligor; and/or 

  

	 	(f)	to claim or prove as a creditor of any Obligor in competition with any Finance Party. 

 If a
Guarantor receives any benefit, payment or distribution in relation to such rights it shall hold that benefit, payment or distribution to the extent necessary to enable all amounts which may be or become payable to the Finance Parties by the
Obligors under or in connection with the Finance Documents to be repaid in full on trust for the Finance Parties and shall promptly pay or transfer the same to the Agent or as the Agent may direct for application in accordance with Clause 37
(Payment Mechanics). 
  

	26.8	Release of Guarantors’ right of contribution 

If any Guarantor (a “Retiring Guarantor”) ceases to be a Guarantor in accordance with the terms of the Finance Documents for
the purpose of any sale or other disposal of that Retiring Guarantor then on the date such Retiring Guarantor ceases to be a Guarantor: 
  

	 	(a)	that Retiring Guarantor is released by each other Guarantor from any liability (whether past, present or future and whether actual or contingent) to make a contribution to any other Guarantor arising by reason of the
performance by any other Guarantor of its obligations under the Finance Documents; and 

  
 - 95 - 

	 	(b)	each other Guarantor waives any rights it may have by reason of the performance of its obligations under the Finance Documents to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of
any rights of the Finance Parties under any Finance Document or of any other security taken pursuant to, or in connection with, any Finance Document where such rights or security are granted by or in relation to the assets of the Retiring Guarantor.

  

	26.9	Additional security 

 This guarantee is in addition to and is not in any
way prejudiced by any other guarantee or security now or subsequently held by any Finance Party. 
  

	26.10	Guarantee Limitation - Fraudulent Conveyance 

 Any term or provision of
this Clause 26 or any other term in this Agreement or any Finance Document notwithstanding, the maximum aggregate amount of the obligations for which any Guarantor shall be liable under this Agreement or any other Finance Document shall in no event
exceed an amount equal to the largest amount that would not render such Guarantor’s obligations under this Agreement subject to avoidance under applicable United States federal or state fraudulent transfer, fraudulent conveyance or similar
laws. 
  

	26.11	Guarantee Limitation - Deemed Dividends 

 Any term or
provision of this Clause 26 or any other term in this Agreement or any Finance Document notwithstanding: 
  

	 	(a)	no member of the Group will have any obligation or liability, directly or indirectly, as guarantor or otherwise under this Agreement or any Finance Document with respect to any obligation or liability arising under any
Finance Document of any U.S. Borrower (the “U.S. Obligations”); and 

  

	 	(b)	not more than 65 per cent. of the stock or other equity interests (measured by the total combined voting power of the issued and outstanding voting stock or other equity interests) of, and none of the assets or
property of, any member of the Group may be pledged directly or indirectly as security for any U.S. Obligations, 

 in each
case to the extent such obligation, liability or pledge would cause or result in any “deemed dividend” to any U.S. Obligor pursuant to Section 956 of the Code; provided that this Clause shall not limit or reduce any obligation
or liability of any Borrower. 

  
 - 96 - 

 SECTION 8 

REPRESENTATIONS, UNDERTAKINGS AND EVENTS OF DEFAULT 
  

	27.	REPRESENTATIONS 

 Each Obligor makes the representations and warranties set out in this
Clause 27 to each Finance Party on the date of this Agreement. 
  

	27.1	Status 

  

	 	(a)	It is a corporation, duly incorporated and validly existing under the law of its jurisdiction of incorporation. 

  

	 	(b)	It and each of its Subsidiaries has the power to own its assets and carry on its business as it is being conducted, except for defects in ownership, title or property the absence of which individually or in aggregate
would not reasonably be expected to have a Material Adverse Effect. 

  

	27.2	Binding obligations 

 The obligations expressed to be assumed by it in each
Finance Document are, subject to any general principles of law as at the date of this Agreement limiting its obligations, which are specifically referred to in any legal opinion delivered pursuant to Clause 4 (Conditions of Utilisation) or
Clause 33 (Changes to the Obligors), legal, valid, binding and enforceable obligations. 
  

	27.3	Non-conflict with other obligations 

The entry into and performance by it of, and the transactions contemplated by, the Finance Documents do not and will not conflict with: 

 

	 	(a)	any law or regulation applicable to it; 

  

	 	(b)	its constitutional documents; or 

  

	 	(c)	any of its obligations under any agreement or instrument binding upon it or any of its assets, except for any conflicts which, individually or in aggregate, would not reasonably be expected to have a Material Adverse
Effect. 

  

	27.4	Power and authority 

 It has the power to enter into, perform and deliver,
and has taken all necessary action to authorise its entry into, performance and delivery of, the Finance Documents to which it is a party and the transactions contemplated by those Finance Documents. 

 

	27.5	Validity and admissibility in evidence 

 All Authorisations
required: 
  

	 	(a)	to enable it lawfully to enter into, exercise its rights and comply with its obligations in the Finance Documents to which it is a party; and 

  
 - 97 - 

	 	(b)	to make the Finance Documents to which it is a party admissible in evidence in its jurisdiction of incorporation, 

have been obtained or effected and are in full force and effect, except for those that may be required under paragraph (e)(iii) of Clause 1.2
(Construction). 
  

	27.6	Governing law and enforcement 

  

	 	(a)	The choice of English law as the governing law of the Finance Documents will be recognised and enforced in its jurisdiction of incorporation. 

 

	 	(b)	Any judgment obtained in England in relation to a Finance Document will be recognised and enforced in its jurisdiction of incorporation. 

 

	27.7	No filing or stamp taxes 

 Under the law of its jurisdiction
of incorporation it is not necessary that the Finance Documents be filed, recorded or enrolled with any court or other authority in that jurisdiction (other than as may be required under paragraph (e)(iii) of Clause 1.2 (Construction)) or
that any stamp, registration or similar tax be paid on or in relation to the Finance Documents (other than in relation to any transfer of any Lender’s rights or obligations thereunder) or the transactions contemplated by the Finance Documents,
save for a Belgian documentary duty of EUR 0.15 to be paid in respect of each original copy of this Agreement if executed in Belgium and for Belgian documentary and registration duties in respect of any Belgian security document. 

 

	27.8	No default 

  

	 	(a)	No Event of Default is continuing or might reasonably be expected to result from the making of any Utilisation. 

  

	 	(b)	No other event or circumstance is outstanding which constitutes a default under any other agreement or instrument which is binding on it or any of its Subsidiaries or to which its (or any of its Subsidiaries’)
assets are subject which might reasonably be expected to have a Material Adverse Effect. 

  

	27.9	No misleading information 

  

	 	(a)	Any factual information provided by it for the purposes of the Debtdomain Information was true and accurate in all material respects as at the date it was provided or as at the date (if any) at which it is stated.

  

	 	(b)	Nothing has occurred or been omitted from the Debtdomain Information and no information has been given or withheld that results in the information contained in the Debtdomain Information being untrue or misleading in
any material respect. 

  

	 	(c)	All written information (other than the Debtdomain Information) supplied by it is true, complete and accurate in all material respects as at the date it was given and is not misleading in any material respect at such
date. 

  
 - 98 - 

	27.10	Financial statements 

  

	 	(a)	In the case of the Company, its audited financial statements most recently delivered to the Agent under paragraph (a) of Clause 28.1 (Financial statements) were prepared in accordance with U.S.
GAAP consistently applied. 

  

	 	(b)	In the case of each Obligor other than the Company, its audited financial statements most recently delivered to the Agent under paragraph (c) of Clause 28.1 (Financial statements) were prepared
in accordance with applicable GAAP consistently applied. 

  

	 	(c)	Its audited financial statements most recently delivered to the Agent under paragraph (a) of Clause 28.1 (Financial statements) fairly present its financial condition and its results of
operations during the relevant financial year period as at the date to which they were drawn up. 

  

	27.11	Pari passu ranking 

 Its payment obligations under the Finance Documents
rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally. 

 

	27.12	No proceedings 

  

	 	(a)	No litigation, arbitration or administrative proceedings of or before any court, arbitral body or agency which, if adversely determined, might reasonably be expected to have a Material Adverse Effect has (to the best of
its knowledge and belief) been started or threatened against it or any of its Subsidiaries (or against its directors or the directors of any of its Subsidiaries) other than as disclosed on Form 10-K, Form 10-Q or Form 8-K. 

  

	 	(b)	No judgment or order of a court, arbitral body or agency which might reasonably be expected to have a Material Adverse Effect has (to the best of its knowledge and belief) been made against it or any of its Subsidiaries
other than as disclosed on Form 10-K, Form 10-Q or Form 8-K. 

 

	27.13	Environmental compliance 

 Each of it and its Subsidiaries has performed
and observed in all material respects all Environmental Law, Environmental Permits and all other material covenants, conditions, restrictions or agreements directly or indirectly concerned with any contamination, pollution or waste or the release or
discharge of any toxic or hazardous substance in connection with any real property which is or was at any time owned, leased or occupied by it or any of its Subsidiaries or on which it or any of its Subsidiaries has conducted any activity where
failure to do so might reasonably be expected to have a Material Adverse Effect. 
  

	27.14	Environmental Claims 

 No Environmental Claim (other than as disclosed on
Form 10-K, Form 10-Q or Form 8-K) has been commenced or (to the best of its knowledge and belief) is threatened against it or any
of its Subsidiaries where that claim would be reasonably likely to have a Material Adverse Effect. 

  
 - 99 - 

	27.15	Material Adverse Effect 

 No event or series of events (other than as
disclosed on Form 10-K, Form 10-Q or Form 8-K) has occurred in relation to itself and its Subsidiaries and no circumstance has
arisen in relation to itself and its Subsidiaries which has had a Material Adverse Effect since the date of its Original Financial Statements. 
  

	27.16	Financial Indebtedness and Security 

 Save as
disclosed to the Lenders prior to the date of this Agreement, no Security or Quasi-Security exists over all or any of its present or future assets or the present or future assets of any of its Subsidiaries other than as permitted by this Agreement,
and neither it nor any of its Subsidiaries has any Indebtedness outstanding other than as permitted by this Agreement. 
  

	27.17	Sanctions and anti-corruption 

  

	 	(a)	Neither it nor any of its Subsidiaries, nor any directors, officers or employees of it or any of its Subsidiaries, has engaged in any activity or conduct which would violate any applicable anti-corruption laws or
regulations in any applicable jurisdiction and each member of the Group has instituted and maintains policies and procedures designed to prevent violation of such laws and regulations. 

 

	 	(b)	Neither it nor any of its Subsidiaries, nor any directors, officers or employees of it or any of its Subsidiaries: 

  

	 	(i)	is a Restricted Party or is engaging in or has engaged in any transaction or conduct that could result in it becoming a Restricted Party; 

 

	 	(ii)	is or ever has been subject to any claim, proceeding, formal notice or investigation with respect to Sanctions; 

  

	 	(iii)	is engaging or has engaged in any transaction that evades or avoids, or has the purpose of evading or avoiding, or breaches or attempts to breach, directly or indirectly, any Sanctions; or 

 

	 	(iv)	has engaged or is engaging, directly or indirectly, in any trade, business or other activities which is in breach of any Sanctions with or for the benefit of any Restricted Party. 

 

	 	(c)	In relation to each Lender that notifies the Agent to this effect (each a “Restricted Lender”), this Clause 27.17 shall only apply for the benefit of that Restricted Lender to the extent
that it would not result in: 

  

	 	(i)	any violation of, conflict with or liability under EU Regulation (EC) 2271/96; or 

  
 - 100 - 

	 	(ii)	a violation or conflict with section 7 of the German foreign trade rules (AWV) (Außenwirtschaftsverordnung) (in connection with section 4 paragraph 1 no 3 of the German foreign trade law (AWG)
(Außenwirtschaftsgesetz)) or a similar anti-boycott statute. 

 In connection with any amendment, waiver,
determination or direction relating to any part of this Clause 27.17 of which a Restricted Lender does not have the benefit, the Commitments of that Restricted Lender will be excluded for the purpose of determining whether the consent of the
Majority Lenders has been obtained or whether the determination or direction by the Majority Lenders has been made. 
  

	27.18	ERISA and Multiemployer Plans 

  

	 	(a)	No ERISA Event has occurred, is continuing, or is reasonably likely to occur with respect to which it or any ERISA Affiliate has or is reasonably likely to incur any liability, such that would reasonably be expected to
have a Material Adverse Effect. 

  

	 	(b)	Each Employee Plan is in compliance in form and operation with ERISA and the Code and all other applicable laws and regulations save where any failure to comply would not reasonably be expected to have a Material
Adverse Effect. 

  

	 	(c)	Each Employee Plan which is intended to be qualified under Section 401(a) of the Code has been determined by the IRS to be so qualified or the form of the Employee Plan’s document is the subject of a
favourable opinion letter from the IRS, and, nothing has occurred since the date of such determination or opinion letter issuance that would adversely affect such determination (or, in the case of an Employee Plan with no determination, nothing has
occurred that would materially adversely affect such qualification). 

  

	 	(d)	There exists no Unfunded Pension Liability with respect to any Employee Plan, except as would not have a Material Adverse Effect. 

  

	 	(e)	Neither it nor any ERISA Affiliate has incurred a complete or partial withdrawal from any Multiemployer Plan, and if each of the Obligors and each ERISA Affiliate were to withdraw in a complete withdrawal as of the date
hereof, the aggregate withdrawal liability that would be incurred would not reasonably be expected to have a Material Adverse Effect. 

  

	 	(f)	There are no actions, suits or claims pending against or involving an Employee Plan (other than routine claims for benefits) or, to the knowledge of it or any ERISA Affiliate, threatened, which would reasonably be
expected to be asserted successfully against any Employee Plan and, if so asserted successfully, would reasonably be expected either singly or in the aggregate to have a Material Adverse Effect. 

 

	 	(g)	It and each ERISA Affiliate has made all material contributions to or under each such Employee Plan it is required by law to make within the applicable time limits prescribed thereby, the terms of such Employee Plan, or
any contract or agreement requiring contributions to an Employee Plan, except where any failure to comply would not reasonably be expected to have a Material Adverse Effect. 

  
 - 101 - 

	 	(h)	Neither it nor any ERISA Affiliate has ceased operations at a facility so as to become subject to the provisions of Section 4062(e) of ERISA, withdrawn as a substantial employer so as to become subject to the
provisions of Section 4063 of ERISA or ceased making contributions to any Employee Plan subject to Section 4064(a) of ERISA to which it made contributions, such that would reasonably be expected to have a Material Adverse Effect.

  

	 	(i)	To the knowledge of it and each ERISA Affiliate, no Multiemployer Plan is or is reasonably likely to become insolvent for purposes of Title IV of ERISA, except where any such insolvency would not reasonably be expected
to have a Material Adverse Effect. 

  

	27.19	Federal Reserve Regulations 

  

	 	(a)	It is not engaged and will not engage, principally or as one of its important activities, in the business of purchasing or carrying Margin Stock or extending credit for the purpose of purchasing or carrying Margin
Stock. 

  

	 	(b)	None of the proceeds of the Loans or other extensions of credit under this Agreement will be used, directly or indirectly, for any purpose which entails a violation of Regulations T, U and X of the Board of Governors of
the Federal Reserve System of the United States of America, and the Company represents that not more than 25% of the value of the assets of the Company and the Subsidiaries consists of Margin Stock. 

 

	27.20	Investment companies 

 Neither it, nor a person controlling it or any of its Subsidiaries
is or is required to be registered as an “investment company” under the U.S. Investment Company Act of 1940 (the “1940 Act”). 
  

	27.21	No Belgian financial assistance 

 The proceeds
of the Facilities have not been and will not be used to finance or refinance the acquisition of or subscription for shares in any Belgian Obligor (save as authorised by Articles 329, 430 and 629 of the Belgian company law and for share buy-backs carried out in accordance with Belgian company law). 
  

	27.22	No cluster bombs or anti-personnel mines 

Neither it nor any of its Subsidiaries carries out activities related to the manufacturing, use, repair, exhibition for sale, sale, import,
export, stockpiling or transport of cluster bombs, sub-munitions, inert munitions or armour plating containing depleted or industrial uranium, or anti-personnel mines. 

  
 - 102 - 

	27.23	No listed securities 

 In the case of a Belgian Obligor only,
it has not issued listed securities, nor is it a Subsidiary of a Belgian company that has issued listed securities. 
  

	27.24	Deduction of Tax 

  

	 	(a)	In the case of a U.S. Obligor, it is not required to make any deduction for or on account of Tax from any payment it may make under any Finance Document to a Lender which has complied with its obligations under
paragraph (a) of Clause 21.7 (Filings). 

  

	 	(b)	In the case of an Obligor incorporated in Hong Kong, it is not required to make any deduction for or on account of Tax from any payment it may make under any Finance Document. 

 

	 	(c)	In the case of a Belgian Obligor, it is not required to make any deduction for or on account of Tax from any payment it may make under any Finance Document to a Belgian Qualifying Lender (assuming that any procedural
formalities falling within paragraph (b) of Clause 21.7 (Filings) have been completed). 

  

	27.25	Repetition 

  

	 	The Repeating Representations are deemed to be made by each Obligor (by reference to the facts and circumstances then existing) on: 

  

	 	(a)	the date of each Utilisation Request and the first day of each Interest Period; and 

  

	 	(b)	in the case of an Additional Obligor, the day on which it becomes (or it is proposed that it becomes) an Additional Obligor. 

  

	28.	INFORMATION UNDERTAKINGS 

 The undertakings in this Clause 28 remain in force from the
date of this Agreement for so long as any amount is outstanding under the Finance Documents or any Commitment is in force. 
  

	28.1	Financial statements 

  

	 	The Company shall supply to the Agent in sufficient copies for all the Lenders: 

  

	 	(a)	as soon as the same become available, but in any event within 15 days of each date the Company is required to file a report on Form 10-K for any financial year with the SEC, its
audited consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such financial year; 

  

	 	(b)	the audited financial statements of each Obligor as of the end of and for such financial year: 

  
 - 103 - 

	 	(i)	as soon as the same become available, but in any event within 180 days of the end of each financial year, in respect of each Obligor other than WABCO Asia Private Ltd. and WABCO Hong Kong Ltd; and 

 

	 	(ii)	as soon as the same become available, but in any event within 270 days of the end of each financial year, in respect of WABCO Asia Private Ltd. and WABCO Hong Kong Ltd; and 

 

	 	(c)	as soon as the same become available, but in any event within 15 days of each date the Company is required to file a report on Form 10-Q for any quarter of its financial year with
the SEC, its consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such quarter and the then elapsed portion of the financial year. 

 

	28.2	Compliance Certificate 

  

	 	(a)	The Company shall supply to the Agent, with each set of financial statements delivered pursuant to paragraph (a) or (c) of Clause 28.1 (Financial statements), a Compliance Certificate:

  

	 	(i)	setting out (in reasonable detail) computations as to compliance with Clause 29 (Financial Covenants) as at the date at which those financial statements were drawn up; and 

 

	 	(ii)	certifying as to whether a Default has occurred since the date of the most recent certificate delivered under this Clause 28.2 and, if a Default has occurred, specifying the details thereof and any action taken or
proposed to be taken with respect thereto. 

  

	 	(b)	Each Compliance Certificate shall be signed by a Financial Officer of the Company and, if required to be delivered with the annual financial statements delivered pursuant to paragraph (a) of Clause 28.1
(Financial statements), shall be certified by the Company’s auditors. 

  

	28.3	Requirements as to financial statements 

  

	 	(a)	Each set of financial statements delivered by the Company under Clause 28.1 (Financial statements) shall be certified by a Financial Officer of the relevant Obligor as giving (if audited) a true and
fair view of, or (if unaudited) fairly presenting, the financial condition (consolidated or otherwise) as at the date to which those financial statements were drawn up. 

 

	 	(b)	The Company must notify the Agent of any material change to the manner in which its financial statements are prepared (including any change in the accounting principles, practices, policies or reference periods
applicable to such financial statements). 

  

	 	(c)	If requested by the Agent, the Company must supply to the Agent: 

  

	 	(i)	a description of any change notified under paragraph (b) above; and 

  

	 	(ii)	a reconciliation statement showing sufficient information: 

  
 - 104 - 

	 	(A)	to enable the Finance Parties to make a reasonable comparison between the financial position shown by the set of financial statements prepared on the changed basis and its most recent such financial statements delivered
to the Agent under this Agreement; and 

  

	 	(B)	to test the financial covenants set out in Clause 29 (Financial Covenants) and to test compliance with the relevant percentages set out in the Consolidated Total Assets of the Company in paragraph
(c)(ix) of Clause 30.3 (Negative pledge), and paragraph (b)(vii) of Clause 30.4 (Disposals) as if the new set of financial statements had been prepared on the same basis as that used in the Original Financial Statements.

  

	28.4	ERISA-related information 

  

	The	Company shall supply to the Agent (in sufficient copies for all the Lenders, if the Agent so requests): 

  

	 	(a)	promptly and in any event within 15 days after any Obligor or any ERISA Affiliate files a Schedule SB (or such other schedule as contains actuarial information) to IRS Form 5500 in respect of an Employee Plan with
Unfunded Pension Liabilities, a copy of such IRS Form 5500 (including the Schedule SB); 

  

	 	(b)	promptly and in any event within 15 days after any Obligor or any ERISA Affiliate knows or has reason to know that any ERISA Event which, individually or when aggregated with any other ERISA Event, would reasonably be
expected to have a Material Adverse Effect has occurred, the written statement of the Chief Financial Officer of such Obligor or ERISA Affiliate, as applicable, describing such ERISA Event and the action, if any, which it proposes to take with
respect to such ERISA Event and a copy of any notice filed with the PBGC or the IRS pertaining to such ERISA Event; provided that, in the case of ERISA Events under paragraph (e) of the definition thereof, the 15-day period set forth above shall be a ten-day period, and, in the case of ERISA Events under paragraph (b) of the definition thereof, in no event shall notice be given
later than the occurrence of the ERISA Event; 

  

	 	(c)	promptly, and in any event within 15 days, after becoming aware that there has been (i) a material increase in Unfunded Pension Liabilities, taking into account only Employee Plans with positive Unfunded Pension
Liabilities; (ii) the existence of potential withdrawal liability under Section 4201 of ERISA, if each Obligor and its ERISA Affiliates were to completely or partially withdraw from all Multiemployer Plans; (iii) the adoption of, or
the commencement of contributions to, any Employee Plan subject to Section 412 of the Code by any Obligor or any ERISA Affiliate; or (iv) the adoption of any amendment to an Employee Plan subject to Section 412 of the Code which
results in a material increase in contribution obligations of any Obligor, a detailed written description thereof from the Chief Financial Officer of each affected Obligor or ERISA Affiliate, as applicable; and 

  
 - 105 - 

	 	(d)	copies of (i) any documents described in Section 101(k)(1) of ERISA that an Obligor or any ERISA Affiliate may request with respect to any Multiemployer Plan and (ii) any notices described in
Section 101(l)(1) of ERISA that an Obligor or any ERISA Affiliate may request with respect to any Multiemployer Plan; provided that, the Obligor or the applicable ERISA Affiliate shall promptly make a request for such documents or
notices from the administrator or sponsor of such Multiemployer Plan upon written request by the Agent (on behalf of any Lender) and in any event at least annually not later than the anniversary date of the date hereof, and shall provide copies of
such documents and notices promptly after receipt thereof. 

  

	28.5	Information: miscellaneous 

 The Company shall supply to the Agent
(in sufficient copies for all the Lenders, if the Agent so requests): 
  

	 	(a)	all documents despatched by the Company to its shareholders (or any class of them) or its creditors generally at the same time as they are dispatched; 

 

	 	(b)	promptly upon becoming aware of them, the details of any litigation, arbitration or administrative proceedings which are current, threatened or pending against any member of the Group (or against the directors of any
member of the Group) which if determined against such member of the Group (or against the directors of such member of the Group) would be likely to have a Material Adverse Effect; 

 

	 	(c)	promptly upon becoming aware of them, the details of any judgment or order of a court, arbitral body or agency which is made against any member of the Group, and which would be likely to have a Material Adverse Effect;
and 

  

	 	(d)	promptly, such further information regarding the financial condition, business and operations of any member of the Group as any Finance Party (through the Agent) may reasonably request. 

 

	28.6	Notification of default 

  

	 	(a)	Each Obligor shall notify the Agent of any Default (and the steps, if any, being taken to remedy it) promptly upon becoming aware of its occurrence (unless that Obligor is aware that a notification has already been
provided by another Obligor). 

  

	 	(b)	Promptly upon a request by the Agent, the Company shall supply to the Agent a certificate signed by a Financial Officer on its behalf certifying that no Default is continuing (or if a Default is continuing, specifying
the Default and the steps, if any, being taken to remedy it). 

  

	28.7	Use of websites 

  

	 	(a)	The Company may satisfy its obligation under this Agreement to deliver any information in relation to those Lenders (the “Website Lenders”) who accept this method of communication by
posting this information onto an electronic website designated by the Company and the Agent (the “Designated Website”) if: 

  
 - 106 - 

	 	(i)	the Agent expressly agrees (after consultation with each of the Lenders) that it will accept communication of the information by this method; 

 

	 	(ii)	both the Company and the Agent are aware of the address of and any relevant password specifications for the Designated Website; and 

  

	 	(iii)	the information is in a format previously agreed between the Company and the Agent. 

 If any
Lender (a “Paper Form Lender”) does not agree to the delivery of information electronically then the Agent shall notify the Company accordingly and the Company shall supply the information to the Agent (in sufficient copies for each
Paper Form Lender) in paper form. In any event the Company shall supply the Agent with at least one copy in paper form of any information required to be provided by it. 
  

	 	(b)	The Agent shall supply each Website Lender with the address of and any relevant password specifications for the Designated Website following designation of that website by the Company and the Agent. 

 

	 	(c)	The Company shall promptly upon becoming aware of its occurrence notify the Agent if: 

  

	 	(i)	the Designated Website cannot be accessed for a material period of time due to technical failure; 

  

	 	(ii)	the password specifications for the Designated Website change; 

  

	 	(iii)	any new information which is required to be provided under this Agreement is posted onto the Designated Website; 

  

	 	(iv)	any existing information which has been provided under this Agreement and posted onto the Designated Website is amended; or 

  

	 	(v)	the Company becomes aware that the Designated Website or any information posted onto the Designated Website is or has been infected by any electronic virus or similar software. 

If the Company notifies the Agent under paragraph (c)(i) or paragraph (c)(v) above, all information to be provided by the Company under this
Agreement after the date of that notice shall be supplied in paper form unless and until the Agent and each Website Lender is satisfied that the circumstances giving rise to the notification are no longer continuing. 

 

	 	(d)	Any Website Lender may request, through the Agent, one paper copy of any information required to be provided under this Agreement which is posted onto the Designated Website. The Company shall comply with any such
request within 10 Business Days. 

  
 - 107 - 

	28.8	“Know your customer” checks 

  

	 	(a)	If: 

  

	 	(i)	the introduction of or any change in (or in the interpretation, administration or application of) any law or regulation made after the date of this Agreement; 

 

	 	(ii)	any change in the status of an Obligor (or of a Holding Company of an Obligor) after the date of this Agreement; or 

  

	 	(iii)	a proposed assignment or transfer by a Lender of any of its rights and obligations under this Agreement to a party that is not a Lender prior to such assignment or transfer, 

obliges the Agent or any Lender (or, in the case of paragraph (iii) above, any prospective new Lender) to comply with “know your
customer” or similar identification procedures in circumstances where the necessary information is not already available to it, each Obligor shall promptly upon the request of the Agent or any Lender supply, or procure the supply of, such
documentation and other evidence as is reasonably requested by the Agent (for itself or on behalf of any Lender) or any Lender (for itself or, in the case of the event described in paragraph (iii) above, on behalf of any prospective new Lender)
in order for the Agent, such Lender or, in the case of the event described in paragraph (iii) above, any prospective new Lender to carry out and be satisfied it has complied with all necessary “know your customer” or other similar
checks under all applicable laws and regulations pursuant to the transactions contemplated in the Finance Documents. 
  

	 	(b)	Each Lender shall promptly upon the request of the Agent supply, or procure the supply of, such documentation and other evidence as is reasonably requested by the Agent (for itself) in order for the Agent to carry out
and be satisfied it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations pursuant to the transactions contemplated in the Finance Documents. 

 

	 	(c)	The Company shall, by not less than 10 Business Days’ prior written notice to the Agent, notify the Agent (which shall promptly notify the Lenders) of its intention to request that one of its Subsidiaries becomes
an Additional Obligor pursuant to Clause 33 (Changes to the Obligors). 

  

	 	(d)	Following the giving of any notice pursuant to paragraph (c) above, if the accession of such Additional Obligor obliges the Agent or any Lender to comply with “know your customer” or similar
identification procedures in circumstances where the necessary information is not already available to it, the Company shall promptly upon the request of the Agent or any Lender supply, or procure the supply of, such documentation and other evidence
as is reasonably requested by the Agent (for itself or on behalf of any Lender) or any Lender (for itself or on behalf of any prospective new Lender) in order for the Agent or such Lender or any prospective new Lender to carry out and be satisfied
it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations pursuant to the accession of such Subsidiary to this Agreement as an Additional Obligor. 

  
 - 108 - 

	29.	FINANCIAL COVENANTS 

  

	29.1	Financial definitions 

 In this Clause 29: 

“Capital Lease” means, as applied to any person, any lease of any property (whether real, personal or mixed) by
that person as lessee which, in accordance with U.S. GAAP, is or should be accounted for as a capital lease on the balance sheet of that person. 

“Capital Lease Obligations” means the obligations of a person to pay rent or other amounts under
any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as Capital Leases on a balance sheet of such person under U.S. GAAP
applied on a consistent basis and, for the purposes of this Agreement, the amount of such obligations at any time shall be the capitalised amount thereof at such time determined in accordance with U.S. GAAP applied on a consistent basis. 

 

	 	“Consolidated	EBITDA” means, for any period, Consolidated Net Income for such period plus: 

  

	 	(a)	without duplication and to the extent deducted in determining such Consolidated Net Income, the sum of: 

  

	 	(i)	Consolidated Net Interest Expense for such period; 

  

	 	(ii)	consolidated income tax expense for such period; 

  

	 	(iii)	all amounts attributable to depreciation and amortisation (including accelerated amortisation and amortisation of stock based compensation) for such period; 

 

	 	(iv)	any extraordinary or non-recurring charges for such period related to plant closings or other restructurings of operations or to the write-down of assets; 

 

	 	(v)	separation costs incurred in connection with the Spin-Off in an aggregate amount not to exceed USD75,000,000; 

 

	 	(vi)	fees and expenses incurred in connection with the negotiation and execution of the Finance Documents; and 

  

	 	(vii)	loss on sale of any plant and machinery, 

  

	 	(b)	and minus without duplication and to the extent not deducted in determining such Consolidated Net Income, extraordinary gains for such period, provided that for any period including a quarter
during which an acquisition or a divestiture was consummated outside of the ordinary course of business, Consolidated EBITDA and the components thereof shall be determined on a pro forma basis as if such acquisition or divestiture, as the
case may be, had occurred at the beginning of such period. 

  
 - 109 - 

 “Consolidated Net Income” means, with respect to any
person, for any period, the net income or loss of such person and its consolidated Subsidiaries for such period. 

“Consolidated Net Indebtedness” means, on any date, (a) Consolidated Total Debt minus
(b) the amount of Unrestricted Cash and Cash Equivalents. 
 “Consolidated Net Interest
Expense” means, with respect to any person, for any period for which such amount is being determined, (a) total interest expense (including that properly attributable to Capital Leases and amortisation of debt discount and debt
issuance costs) of such person and its Subsidiaries, including all capitalised interest, all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financings and net costs under
interest rate protection agreements (including amortisation of discount) minus (b) total interest income of such person and its Subsidiaries all as determined on a consolidated basis in accordance with U.S. GAAP, and, to the extent Consolidated
EBITDA for any period is determined on a pro forma basis to reflect an acquisition or divestiture out of the ordinary course of business, Consolidated Net Interest Expense shall be calculated on a pro
forma basis as if such acquisition or divestiture, as the case may be, had occurred at the beginning of such period. 

“Consolidated Total Assets” means the aggregate amount of assets of the Company and its
Subsidiaries (less applicable reserves and other properly deductible items) determined on a consolidated basis in accordance with U.S. GAAP. 

“Consolidated Total Debt” means, for any person, all Indebtedness of such person and its
Subsidiaries determined on a consolidated basis in accordance with U.S. GAAP. 
 “Indebtedness” means, with respect to any
person, without duplication: 
  

	 	(a)	all obligations of such person for money borrowed or raised (excluding all Securitisation Transactions that are accounted for as true sales of accounts receivable and not as liabilities on the consolidated balance
sheets of the Company, but including Securitisation Transactions accounted for as liabilities on the consolidated balance sheets of the Company); 

  

	 	(b)	all obligations of such person (other than accounts payable and other similar items arising in the ordinary course of business) for the deferred payment of the purchase price of property or services which would appear
as liabilities on a balance sheet of such person; 

  

	 	(c)	all Capital Lease Obligations of such person; 

  

	 	(d)	all guarantees by such person of obligations of others that otherwise constitute Indebtedness; and 

  
 - 110 - 

	 	(e)	all obligations (contingent or otherwise) of such person as an account party in respect of letters of credit issued to secure payment obligations that otherwise constitute Indebtedness. 

“Spin-Off” means the distribution on a pro rata basis to the
shareholders of American Standard Companies Inc., a Delaware corporation, in a tax-free transaction, on the terms described in the Form 10 filed by the Company with the SEC on 26 February 2007 and any
amendments thereto, of all the issued and outstanding shares of common stock of the Company. 
 “Unrestricted
Cash and Cash Equivalents” means cash and cash equivalents and short-term investments (including but not limited to marketable and non-marketable
securities with a maturity of less than one year) that are not, or are not required under the terms of any agreement or arrangement to be: 
  

	 	(a)	pledged to, subject to a lien in favour of, or held in one or more accounts under the control of one or more creditors of the Company or its Subsidiaries; or 

 

	 	(b)	otherwise segregated from the general assets of the Company and its Subsidiaries, in one or more special accounts or otherwise, for the purpose of securing or providing a source of payment for Indebtedness or other
obligations that are or from time to time may be owed to one or more creditors of the Company or its Subsidiaries. Cash and cash equivalents held in ordinary deposit or securities accounts of the Company or its Subsidiaries and not subject to any
existing or contingent restrictions on transfer by the Company or its Subsidiaries shall be deemed to constitute Unrestricted Cash and Cash Equivalents notwithstanding any set-off rights created by law or by
applicable account agreements in favour of depositary institutions, 

 provided that each of Consolidated EBITDA,
Consolidated Net Income, Consolidated Net Indebtedness, Consolidated Net Interest Expense, Consolidated Total Debt and Indebtedness shall be determined on a consolidated basis in accordance with U.S. GAAP in force as at the Effective Date,
irrespective of any subsequent updates or amendments which may be introduced thereafter. 
  

	29.2	Financial condition 

  

	 	(a)	The Company shall ensure that the ratio of (i) Consolidated Net Indebtedness of the Company on the last day of each quarter of each of its financial years to (ii) Consolidated EBITDA of the Company for the period
of twelve months ending on such day does not exceed 3.00 to 1.00. 

  

	 	(b)	Save as provided in paragraph (c) below, the Company will not permit any of its Subsidiaries to incur Indebtedness (excluding the Indebtedness under this Agreement) or issue preferred stock or other preferred
equity (including any extensions, renewals and replacements of such Indebtedness or replacements of preferred stock or other preferred equity) in an amount which, when converted into the Base Currency at the Agent’s Spot Rate of Exchange on the
relevant date, exceeds 20 per cent. of the Consolidated Total Assets of the Company determined at the end of the then most recently ended financial year, 

  
 - 111 - 

 of which a principal amount of not more than USD150,000,000 (the amount of any Indebtedness not
denominated in the Base Currency to be converted into the Base Currency at the Agent’s Spot Rate of Exchange on the relevant date) in total shall be secured. 
  

	 	(c)	A Subsidiary of the Company may incur further unsecured Indebtedness if: 

  

	 	(i)	the incurrence of such Indebtedness is permitted under the terms of all other Group financing arrangements (including any private placements); and 

 

	 	(ii)	prior to the incurrence of such Indebtedness: 

  

	 	(A)	all Lenders have agreed to accept guarantees from one or more members of the Group and such persons have acceded to this Agreement as Additional Guarantors in accordance with Clause 33.4 (Additional Guarantors);
and 

  

	 	(B)	all Lenders are satisfied with any tax consequences that may arise under this Agreement as a result of such guarantees. 

  

	29.3	Financial testing 

 The financial covenants set out in Clause 29.2
(Financial condition) shall be tested by reference to each of the financial statements and/or each Compliance Certificate delivered pursuant to Clause 28.2 (Compliance Certificate) and any reconciliation statement delivered pursuant to
paragraph (c)(ii) of Clause 28.3 (Requirements as to financial statements). 
  

	30.	GENERAL UNDERTAKINGS 

 The undertakings in this Clause 30 remain in force
from the date of this Agreement for so long as any amount is outstanding under the Finance Documents or any Commitment is in force. 
  

	30.1	Authorisations 

 Each Obligor shall promptly: 

 

	 	(a)	obtain, comply with and do all that is necessary to maintain in full force and effect; and 

  

	 	(b)	supply certified copies to the Agent of, 

 any Authorisation required under any law or
regulation of its jurisdiction of incorporation to enable it to perform its obligations under the Finance Documents and to ensure the legality, validity, enforceability or admissibility in evidence in its jurisdiction of incorporation of any Finance
Document. 

  
 - 112 - 

	30.2	Compliance with laws 

 Each Obligor shall comply in all respects with all
laws to which it may be subject, if failure so to comply is reasonably likely to materially impair its ability to perform its obligations under the Finance Documents. 
  

	30.3	Negative pledge 

 In this Clause 30.3, “Quasi-Security” means an
arrangement or transaction described in paragraph (b) below. 
  

	 	(a)	No Obligor shall (and the Company shall ensure that no other member of the Group will) create or permit to subsist any Security over any of its assets. 

 

	 	(b)	No Obligor shall (and the Company shall ensure that no other member of the Group will): 

  

	 	(i)	sell, transfer or otherwise dispose of any of its assets on terms whereby they are or may be leased to or re-acquired by an Obligor or any other member of the Group;

  

	 	(ii)	sell, transfer or otherwise dispose of any of its receivables on recourse terms; 

  

	 	(iii)	enter into any arrangement under which money or the benefit of a bank or other account may be applied, set-off or made subject to a combination of accounts; or 

 

	 	(iv)	enter into any other preferential arrangement having a similar effect, 

 in circumstances where
the arrangement or transaction is entered into primarily as a method of raising Financial Indebtedness or of financing the acquisition of an asset. 
  

	 	(c)	Paragraphs (a) and (b) above do not apply to any Security (or as the case may be) Quasi-Security, listed below: 

  

	 	(i)	any netting or set-off arrangement entered into by any member of the Group in the ordinary course of its banking arrangements for the purpose of netting debit and credit balances;

  

	 	(ii)	any payment or close out netting or set-off arrangement pursuant to any hedging transaction entered into by a member of the Group for the purpose of: 

 

	 	(A)	hedging any risk to which any member of the Group is exposed in its ordinary course of trading; or 

  

	 	(B)	 its interest rate or currency management operations which are carried out in the ordinary course of trading and
for non-speculative purposes only. 

  
 - 113 - 

	 	 	excluding, in each case, any Security or Quasi-Security under a credit support arrangement in relation to a hedging transaction; 

  

	 	(iii)	any lien arising by operation of law and in the ordinary course of trading or by order of a court or tribunal (or by an agreement of similar effect); 

 

	 	(iv)	any Security or Quasi-Security over or affecting any asset acquired by a member of the Group after the date of this Agreement if: 

  

	 	(A)	the Security or Quasi-Security was not created in contemplation of the acquisition of that asset by a member of the Group; 

  

	 	(B)	the principal amount secured has not been increased in contemplation of, or since the acquisition of that asset by a member of the Group; and 

 

	 	(C)	the Security or Quasi-Security is removed or discharged within six months of the date of acquisition of such asset; 

  

	 	(v)	any Security or Quasi-Security over or affecting any asset acquired by a member of the Group after the date of this Agreement if: 

  

	 	(A)	the Security or Quasi-Security was created on any asset acquired after the date of this Agreement for the sole purpose of financing or re-financing that acquisition and securing a
principal, capital or nominal amount not exceeding the cost of that acquisition; and 

  

	 	(B)	the Security or Quasi-Security is removed or discharged within six months of the date of acquisition of such asset; 

  

	 	(vi)	any Security or Quasi-Security over or affecting any asset of any company which becomes a member of the Group after the date of this Agreement, where the Security or Quasi-Security is created prior to the date on which
that company becomes a member of the Group, if: 

  

	 	(A)	the Security or Quasi-Security was not created in contemplation of the acquisition of that company; 

  

	 	(B)	the principal amount secured has not increased in contemplation of or since the acquisition of that company; and 

  

	 	(C)	the Security or Quasi-Security is removed or discharged within three months of that company becoming a member of the Group; 

  

	 	(vii)	any Security or Quasi-Security entered into pursuant to any Finance Document; 

  
 - 114 - 

	 	(viii)	any Security or Quasi-Security arising under any retention of title, hire purchase or conditional sale arrangement or arrangements having similar effect in respect of goods supplied to a member of the Group in the
ordinary course of trading and on the supplier’s standard or usual terms and not arising as a result of any default or omission by any member of the Group; or 

 

	 	(ix)	subject to paragraph (a) of Clause 29.2 (Financial condition), any Security or Quasi-Security securing Indebtedness the principal amount of which (when aggregated with the principal amount of
any other Indebtedness which has the benefit of Security or Quasi-Security given by any member of the Group other than any permitted under paragraphs (i) to (viii) above), when converted into the Base Currency, does not exceed an amount equal
to 20 per cent. of the Consolidated Total Assets of the Company at the end of the immediately preceding financial year. 

  

	30.4	Disposals 

  

	 	(a)	No Obligor shall (and the Company shall ensure that no other member of the Group will), enter into a single transaction or a series of transactions (whether related or not) and whether voluntary or involuntary to sell,
lease, transfer or otherwise dispose of any asset (other than cash). 

  

	 	(b)	Paragraph (a) above does not apply to any sale, lease, transfer or other disposal: 

  

	 	(i)	made in the ordinary course of trading of the disposing entity; 

  

	 	(ii)	of assets in exchange for other assets comparable or superior as to type, value and quality (other than an exchange of a non-cash asset for cash); 

 

	 	(iii)	on normal commercial terms of obsolete assets or assets no longer required for the purpose of the business or operations of the relevant member of the Group; 

 

	 	(iv)	assets sold pursuant to any Securitisation Transaction; 

  

	 	(v)	assets sold pursuant to an Intra-Group Reorganisation; 

  

	 	(vi)	by an Obligor to another Obligor, or by a non-Obligor which is a member of the Group to another non-Obligor which is a member of the Group;

  

	 	(vii)	where the higher of the market value or consideration receivable (when aggregated with the higher of the market value or consideration receivable for any other sale, lease, transfer or other disposal by the Group, other
than any permitted under paragraphs (i) to (iv) above), when converted into the Base Currency, does not exceed an amount equal to 10 per cent. of the Consolidated Total Assets of the Company as at the end of the immediately preceding
financial year; or 

  

	 	(viii)	any disposal which the Majority Lenders shall have agreed shall not be taken into account. 

  
 - 115 - 

	30.5	Merger 

 No Obligor shall (and the Company shall ensure that no other member of the Group
will) enter into any amalgamation, demerger, merger or corporate reconstruction other than as part of an Intra-Group Reorganisation. 
  

	30.6	Change of business 

 The Company shall ensure that no substantial
change is made to the general nature of the business of the Company or the Group from that carried on at the date of this Agreement. 
  

	30.7	Environmental Compliance 

 Each Obligor shall (and the Company shall ensure
that each member of the Group will) comply in all material respects with all Environmental Law and obtain and maintain any Environmental Permits and take all reasonable steps in anticipation of known or expected future changes to or obligations
under the same where failure to do so might reasonably be expected to have a Material Adverse Effect. 
  

	30.8	Environmental Claims 

 The Company shall inform the Agent in writing as
soon as reasonably practicable upon becoming aware of: 
  

	 	(a)	any Environmental Claim that has been commenced or (to the best of its knowledge and belief) is threatened against any member of the Group; or 

 

	 	(b)	any facts or circumstances which will or are reasonably likely to result in any Environmental Claim being commenced or threatened against any member of the Group, 

where the claim would be reasonably likely, if determined against that member of the Group, to have a Material Adverse Effect. 

 

	30.9	Compliance with ERISA 

 No Obligor shall: 

 

	 	(a)	allow, or permit any of its ERISA Affiliates to allow, (i) any Employee Plan with respect to which any Obligor or any of its ERISA Affiliates may have any liability to terminate, (ii) any Obligor or ERISA
Affiliates to withdraw from any Employee Plan or Multiemployer Plan, (iii) any ERISA Event to occur with respect to any Employee Plan, or (iv) any Employee Plan to fail to satisfy the minimum funding standard (as defined in
Section 302 of ERISA and Section 412 of the Code), whether or not waived, to the extent that any of the events described in (i), (ii), (iii) or (iv), singly or in the aggregate, could have a Material Adverse Effect; 

 

	 	(b)	allow, or permit any of its ERISA Affiliates to allow, (i) the aggregate amount of Unfunded Pension Liability among all Employee Plans (taking into account only Employee Plans with positive Unfunded Pension
Liability) at any time to 

  
 - 116 - 

	 	be in an amount that would reasonably be expected to have a Material Adverse Effect; or (ii) the aggregate potential withdrawal liability under Section 4201 of ERISA, if the Obligor and its ERISA Affiliates
were to completely or partially withdraw from all Multiemployer Plans, to be in an amount that would reasonably be expected to have a Material Adverse Effect; or 

  

	 	(c)	fail, or permit any of its ERISA Affiliates to fail, to comply in any material respect with ERISA or the related provisions of the Code, if any such non-compliance, singly or in the aggregate, would be reasonably likely
to have a Material Adverse Effect. 

  

	30.10	Federal Reserve Regulations 

 Each U.S. Borrower will use the
Facilities without violating Regulations T, U and X. 
  

	30.11	Compliance with U.S. Regulations 

 No Obligor shall (and the
Company shall ensure that no other member of the Group will) become an “investment company,” or an “affiliated person” of, or “promoter” or “principal underwriter” for, an “investment company,” as
such terms are defined in the 1940 Act. Neither the making of any Loan, or the application of the proceeds or repayment of any Loan by any Obligor nor the consummation of the other transactions contemplated by this Agreement will violate any
provision of such act or any rule, regulation or order of the SEC under the 1940 Act. 
  

	30.12	Sanctions and anti-corruption 

  

	 	(a)	No Obligor shall (and the Company shall ensure that no other member of the Group will) directly or indirectly use the proceeds of the Revolving Facility for any purpose which would breach the Bribery Act 2010, the
United States Foreign Corrupt Practices Act of 1977 or other similar legislation in other jurisdictions. 

  

	 	(b)	Each Obligor shall (and the Company shall ensure that each other member of the Group will): 

  

	 	(i)	conduct its businesses in compliance with applicable anti-corruption laws and regulations; and 

  

	 	(ii)	maintain policies and procedures designed to promote and achieve compliance with such laws. 

  

	 	(c)	The Borrower shall comply with all Sanctions. 

  

	 	(d)	No Obligor shall (and the Company shall procure that no other member of the Group shall): 

  

	 	(i)	use, lend, contribute or otherwise make available all or any part of the proceeds of any Utilisation or other transaction contemplated by this Agreement directly or indirectly to any person; 

  
 - 117 - 

	 	(A)	for the purpose of financing or facilitating any trade, business or other activities in breach of any Sanctions for any Party (1) involving, or for the benefit of, any Restricted Party, or (2) in any
Sanctioned Country; or 

  

	 	(B)	in any other manner that would result in any person, including but not limited to any Finance Party being in breach of any Sanctions or becoming a Restricted Party; 

 

	 	(ii)	engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or breaches or attempts to breach, directly or indirectly, any Sanctions; or 

 

	 	(iii)	fund all or part of any payment in connection with a Finance Document out of proceeds derived from business or transactions which are in breach of any Sanctions for any Party with a Restricted Party, or from any action
which is in breach of any Sanctions. 

  

	 	(e)	Each member of the Group must ensure that appropriate controls and safeguards are in place designed to prevent any action being taken that would be contrary to paragraph (c) above. 

 

	 	(f)	In relation to each Lender that notifies the Agent to this effect (each a “Restricted Lender”), this Clause 30.12 shall only apply for the benefit of that Restricted Lender to the extent
that it would not result in: 

  

	 	(i)	any violation of, conflict with or liability under EU Regulation (EC) 2271/96; or 

  

	 	(ii)	a violation or conflict with section 7 of the German foreign trade rules (AWV) (Außenwirtschaftsverordnung) (in connection with section 4 paragraph 1 no 3 of the German foreign trade law (AWG)
(Außenwirtschaftsgesetz)) or a similar anti-boycott statute. 

 In connection with any amendment,
waiver, determination or direction relating to any part of this Clause 30.12 of which a Restricted Lender does not have the benefit, the Commitments of that Restricted Lender will be excluded for the purpose of determining whether the consent of the
Majority Lenders has been obtained or whether the determination or direction by the Majority Lenders has been made. 
  

	31.	EVENTS OF DEFAULT 

 Each of the events or circumstances set out in
this Clause 31 is an Event of Default (save as for Clause 31.15 (Acceleration)). 
  

	31.1	Non-payment 

 An Obligor does not pay on the due
date any amount payable pursuant to a Finance Document at the place at and in the currency in which it is expressed to be payable unless its failure to pay is caused by administrative or technical error or a Disruption Event and payment is made
within 3 Business Days of its due date. 

  
 - 118 - 

	31.2	Financial covenants 

 Any of the financial covenants set out in Clause 29
(Financial Covenants) is not satisfied. 
  

	31.3	Other obligations 

  

	 	(a)	An Obligor does not comply with any provision of the Finance Documents (other than those referred to in Clause 31.1 (Non-payment) and Clause 29 (Financial
Covenants)). 

  

	 	(b)	No Event of Default under paragraph (a) above will occur if the failure to comply is capable of remedy and is remedied within 30 days of the earlier of (A) the Agent giving notice to the Company and (B) the
Company becoming aware of the failure to comply. 

  

	31.4	Misrepresentation 

 Any representation or statement made or deemed to be made by an
Obligor in the Finance Documents or any other document delivered by or on behalf of any Obligor under or in connection with any Finance Document is or proves to have been incorrect or misleading in any material respect when made or deemed to be
made. 
  

	31.5	Cross default 

  

	 	(a)	Any Financial Indebtedness of any Obligor or Material Company is not paid when due nor within any originally applicable grace period. 

 

	 	(b)	Any Financial Indebtedness of any Obligor or Material Company is declared to be or otherwise becomes due and payable prior to its specified maturity as a result of an event of default (however described).

  

	 	(c)	Any commitment for any Financial Indebtedness of any Obligor or Material Company is cancelled or suspended by a creditor of any Obligor or Material Company as a result of an event of default (however described).

  

	 	(d)	Any creditor of any Obligor or Material Company becomes entitled to declare any Financial Indebtedness of any Obligor or Material Company due and payable prior to its specified maturity as a result of an event of
default (however described). 

  

	 	(e)	No Event of Default will occur under this Clause 31.5 if, at any one time, the aggregate amount of Financial Indebtedness or commitment for Financial Indebtedness falling within paragraphs (a) to (d) above is less
than USD75,000,000 (the amount of any Financial Indebtedness not denominated in the Base Currency to be converted into the Base Currency at the Agent’s Spot Rate of Exchange on the relevant date). 

 

	31.6	Insolvency 

  

	 	(a)	An Obligor or Material Company is unable or admits inability to pay its debts as they fall due, suspends making payments on any of its debts or, by reason of actual or anticipated financial difficulties, commences
negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness. 

  
 - 119 - 

	 	(b)	The value of the assets of any Obligor or Material Company is less than its liabilities (taking into account contingent and prospective liabilities). 

 

	 	(c)	A moratorium is declared in respect of any indebtedness of any Obligor or Material Company. 

  

	31.7	Insolvency proceedings 

  

	 	Any corporate action, legal proceedings or other procedure or step is taken in relation to: 

  

	 	(a)	the suspension of payments, a moratorium of any indebtedness, winding-up, dissolution, administration, judicial management or reorganisation (by way of voluntary arrangement,
scheme of arrangement or otherwise) of any Obligor or Material Company other than a solvent liquidation or reorganisation of any Material Company; 

  

	 	(b)	a composition, compromise, assignment or arrangement with any creditor of any Obligor or Material Company; 

  

	 	(c)	the appointment of a liquidator (other than in respect of a solvent liquidation of a Material Company), receiver, trustee or custodian (other than in the normal course of business of any Obligor or Material Company),
sequestrator, conservator, administrative receiver, administrator, judicial manager, compulsory manager or other similar officer in respect of any Obligor or Material Company or any of its assets; or 

 

	 	(d)	enforcement of any Security over any assets of any Obligor or Material Company. 

 This Clause
31.7 shall not apply to (i) any winding-up petition which is frivolous or vexatious and is discharged, stayed or dismissed within 60 days of commencement or (ii) a voluntary solvent winding-up, amalgamation, reconstruction or reorganisation or otherwise part of a solvent scheme of arrangement, in each case which is on terms approved by the Majority Lenders. 

 

	31.8	Declared company 

 Any Obligor incorporated in Singapore is declared by the
Singapore Minister of Finance to be a company to which Part IX of the Companies Act, Chapter 50 of Singapore applies. 
  

	31.9	Creditors’ process 

 Any expropriation, attachment, sequestration,
distress or execution affects any asset or assets of a member of the Group having an aggregate value of more than USD75,000,000 (any amount not denominated in the Base Currency to be converted into the Base Currency at the Agent’s Spot Rate of
Exchange on the relevant date). 

  
 - 120 - 

	31.10	Ownership of the Obligors 

 The percentage of shares held by the
Company in any Obligor decreases below the percentage of shares in such Obligor held by it on the date of this Agreement or the date such Obligor accedes to this Agreement, other than pursuant to an Intra-Group Reorganisation. 

 

	31.11	Unlawfulness 

 It is or becomes unlawful for an Obligor to perform any of its obligations
under the Finance Documents. 
  

	31.12	Repudiation 

 An Obligor repudiates a Finance Document or evidences an intention to
repudiate a Finance Document. 
  

	31.13	Employee Plans 

 Any ERISA Event shall have occurred, or Clause 30.9
(Compliance with ERISA) shall be breached, and the liability of an Obligor or its ERISA Affiliates, either individually or in the aggregate, related to such ERISA Event or breaches, individually or when aggregated with all other ERISA Events,
and all such breaches would have or would be reasonably expected to have a Material Adverse Effect. 
  

	31.14	Cessation of business 

 The Group suspends or ceases to carry on (or
threatens to suspend or cease to carry on) all or a material part of its business. 
  

	31.15	Acceleration 

 On and at any time after the occurrence of an Event of Default which is
continuing, the Agent may, and shall if so directed by the Majority Lenders, by notice to the Company: 
  

	 	(a)	cancel the Total Commitments, at which time they shall immediately be cancelled; 

  

	 	(b)	declare that all or part of the Utilisations, together with accrued interest, and all other amounts accrued or outstanding under the Finance Documents be immediately due and payable, at which time they shall become
immediately due and payable; 

  

	 	(c)	declare that all or part of the Utilisations be payable on demand, at which time they shall immediately become payable on demand by the Agent on the instructions of the Majority Lenders; 

 

	 	(d)	declare that full cash cover in respect of each Letter of Credit is immediately due and payable whereupon it shall become immediately due and payable; and/or 

  
 - 121 - 

	 	(e)	declare that full cash cover in respect of each Letter of Credit is payable on demand, whereupon it shall become immediately payable on demand by the Agent on the instructions of the Majority Lenders, 

but, notwithstanding the foregoing, upon the occurrence of an Event of Default specified in Clause 31.7 (Insolvency
proceedings) (an “Automatic Acceleration Event”), the Revolving Facility shall be cancelled and all Utilisations, together with accrued interest, cash cover in respect of each Letter of Credit
and all other amounts accrued and outstanding under the Finance Documents shall become immediately due and payable in each case without declaration, notice or demand by or to any person, all of which are expressly waived. 

  
 - 122 - 

 SECTION 9 

CHANGES TO PARTIES 
  

	32.	CHANGES TO THE LENDERS 

  

	32.1	Assignments and transfers by the Lenders 

 Subject to this
Clause 32, a Lender (the “Existing Lender”) may: 
  

	 	(a)	assign any of its rights; or 

  

	 	(b)	transfer by novation any of its rights and obligations, 

 to another bank or financial
institution or to a trust, fund or other entity which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other financial assets (the “New Lender”) provided that
(unless such assignment or transfer is to an Affiliate of the Existing Lender or an Event of Default is continuing) such assignment or transfer is of a minimum amount of USD5,000,000 or, if less, the total amount of such Lender’s Commitment
or as the Company and the Agent may agree. 
  

	32.2	Conditions of assignment or transfer 

  

	 	(a)	The consent of the Company is required for an assignment or transfer by an Existing Lender, unless an Event of Default is continuing or, provided that 5 days’ prior written notice has
been given to the Company, the assignment or transfer is to another Lender or to an Affiliate of any Lender. 

  

	 	(b)	The consent of the Company to an assignment or transfer must not be unreasonably withheld or delayed. The Company will be deemed to have given its consent 5 Business Days after the Existing Lender has requested it in
writing unless consent is expressly refused by the Company within that time. 

  

	 	(c)	No transfer or assignment by an Existing Lender of any rights and obligations under any Finance Document in relation to a Utilisation by a Belgian Obligor shall be made to another Lender or to an Affiliate of any Lender
unless an Event of Default is continuing or unless the prior written consent of the Company (not to be unreasonably withheld or delayed) is obtained if, at the time of the transfer or assignment: 

 

	 	(i)	the state or territory in which that other Lender or Affiliate is incorporated, resident or established, or where its permanent establishment is established, is a Non-Cooperative
Jurisdiction; or 

  

	 	(ii)	the bank account(s) to which payments to which that other Lender or Affiliate will be entitled will be made, are managed by or opened with a person incorporated, resident or established in a Non-Cooperative Jurisdiction or by a permanent establishment situated in a Non- Cooperative Jurisdiction. 

  
 - 123 - 

 If the Belgian Obligor receives a written request from an Existing Lender for its consent (which
shall refer to this Clause 32.2(c)), it must within 5 Business Days either give its written consent, or request additional information reasonably demonstrating that the other Lender or Affiliate does not qualify as an artificial construction within
the meaning of article 198, §1, 10° of the Belgian Income Tax Code 1992. The Belgian Obligor will be deemed to have given its consent if it has not given its written consent or has not requested any such additional information, in each case
within 5 Business Days after the Existing Lender requested it in writing. If, and only if, the Belgian Obligor has requested any such additional information and does not receive additional information in a timely manner that is reasonably
satisfactory to it, shall the Belgian Obligor have the right to refuse its consent. The Belgian Obligor will be deemed to have given its consent ten Business Days after it receives any additional information, unless it has notified its duly
motivated refusal within that time. 
  

	 	(d)	The consent of the Issuing Bank, each Swingline Lender and each Swingline Agent is required for a transfer by an Existing Lender of any of its rights and/or obligations under the Facility unless the New Lender:

  

	 	(i)	has a long-term senior unsecured rating with either S&P or Moody’s of BBB+/Baa1 or better; or 

  

	 	(ii)	in the case of the Issuing Bank consent, such New Lender deposits in a collateral account (held in the name of the relevant New Lender but under the sole dominion and control of the Issuing Bank) cash in an amount equal
to such New Lender’s L/C Proportion in any Letter of Credit as collateral for its obligations to the Issuing Bank or the Issuing Bank’s Designated Entity (as applicable), over which security, in a form reasonably acceptable to the Issuing
Bank, has been granted. 

  

	 	(e)	An assignment will only be effective on: 

  

	 	(i)	receipt by the Agent (whether in the Assignment Agreement or otherwise) of written confirmation from the New Lender (in form and substance satisfactory to the Agent) that the New Lender will assume the same obligations
to the other Finance Parties as it would have been under if it had been an Original Lender; and 

  

	 	(ii)	performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to such assignment to a New Lender, the completion of which the
Agent shall promptly notify to the Existing Lender and the New Lender. 

  

	 	(f)	A transfer will only be effective if the procedure set out in Clause 32.5 (Procedure for transfer) is complied with. 

 

	 	(g)	If: 

  

	 	(i)	a Lender assigns or transfers any of its rights or obligations under the Finance Documents or changes its Facility Office; and 

  
 - 124 - 

	 	(ii)	as a result of circumstances existing at the date the assignment, transfer or change occurs, an Obligor would be obliged to make a payment to the New Lender or Lender acting through its new Facility Office under Clause
21 (Tax Gross Up and Indemnities) or Clause 22 (Increased Costs), 

 then the New Lender or Lender acting
through its new Facility Office is only entitled to receive payment under those Clauses to the same extent as the Existing Lender or Lender acting through its previous Facility Office would have been if the assignment, transfer or change had not
occurred. 
  

	 	(h)	Each New Lender, by executing the relevant Transfer Certificate or Assignment Agreement, confirms, for the avoidance of doubt, that the Agent has authority to execute on its behalf any amendment or waiver that has been
approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the transfer or assignment becomes effective in accordance with this Agreement and that it is bound by that decision to
the same extent as the Existing Lender would have been had it remained a Lender. 

  

	32.3	Assignment or transfer fee 

  

	 	(a)	The New Lender shall, on the date upon which an assignment or transfer takes effect, pay to the Agent (for its own account) a fee of USD3,000. 

 

	 	(b)	No costs or fees shall be due or payable by the Company or any Obligor in relation to any assignment or transfer by an Existing Lender pursuant to this Clause 32. 

 

	32.4	Limitation of responsibility of Existing Lenders 

  

	 	(a)	Unless expressly agreed to the contrary, an Existing Lender makes no representation or warranty and assumes no responsibility to a New Lender for: 

 

	 	(i)	the legality, validity, effectiveness, adequacy or enforceability of the Finance Documents or any other documents; 

  

	 	(ii)	the financial condition of any Obligor; 

  

	 	(iii)	the performance and observance by any Obligor of its obligations under the Finance Documents or any other documents; or 

  

	 	(iv)	the accuracy of any statements (whether written or oral) made in or in connection with any Finance Document or any other document, 

and any representations or warranties implied by law are excluded. 
  

	 	(b)	Each New Lender confirms to the Existing Lender and the other Finance Parties that it: 

  

  
 - 125 - 

	 	(i)	has made (and shall continue to make) its own independent investigation and assessment of the financial condition and affairs of each Obligor and its related entities in connection with its participation in this
Agreement and has not relied exclusively on any information provided to it by the Existing Lender in connection with any Finance Document; and 

  

	 	(ii)	will continue to make its own independent appraisal of the creditworthiness of each Obligor and its related entities whilst any amount is or may be outstanding under the Finance Documents or any Commitment is in force.

  

	 	(c)	Nothing in any Finance Document obliges an Existing Lender to: 

  

	 	(i)	accept a re-transfer or re-assignment from a New Lender of any of the rights and obligations assigned or transferred under this Clause 32;
or 

  

	 	(ii)	support any losses directly or indirectly incurred by the New Lender by reason of the non-performance by any Obligor of its obligations under the Finance Documents or otherwise.

  

	32.5	Procedure for transfer 

  

	 	(a)	Subject to the conditions set out in Clause 32.2 (Conditions of assignment or transfer) a transfer is effected in accordance with paragraph (c) below when the Agent executes an otherwise duly completed
Transfer Certificate delivered to it by the Existing Lender and the New Lender and the Agent makes a corresponding entry in the Register pursuant to Clause 32.7 (The Register). The Agent shall, subject to paragraph (b) below, as soon as
reasonably practicable after receipt by it of a duly completed Transfer Certificate appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Transfer Certificate and
make such corresponding entry in the Register. 

  

	 	(b)	The Agent shall only be obliged to execute a Transfer Certificate delivered to it by the Existing Lender and the New Lender and make a corresponding entry in the Register once it is satisfied it has complied with all
necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the transfer to such New Lender. 

  

	 	(c)	Subject to Clause 32.10 (Pro rata interest settlement), on the Transfer Date: 

  

	 	(i)	to the extent that in the Transfer Certificate the Existing Lender seeks to transfer by novation its rights and obligations under the Finance Documents each of the Obligors and the Existing Lender shall be released from
further obligations towards one another under the Finance Documents and their respective rights against one another under the Finance Documents shall be cancelled (being the “Discharged Rights and
Obligations”); 

  

	 	(ii)	each of the Obligors and the New Lender shall assume obligations towards one another and/or acquire rights against one another which differ from the Discharged Rights and Obligations only insofar as that Obligor and the
New Lender have assumed and/or acquired the same in place of that Obligor and the Existing Lender; 

  
 - 126 - 

	 	(iii)	the Agent, the Arranger, the New Lender, the Issuing Bank, the Swingline Lenders, the Swingline Agents and the other Lenders shall acquire the same rights and assume the same obligations between themselves as they would
have acquired and assumed had the New Lender been an Original Lender with the rights and/or obligations acquired or assumed by it as a result of the transfer and to that extent the Agent, the Arranger, the Issuing Bank, the Swingline Lenders, the
Swingline Agents and the Existing Lender shall each be released from further obligations to each other under the Finance Documents; 

  

	 	(iv)	the benefit of each security document granted under or in connection with the Finance Documents in favour of the Existing Lender shall be maintained in favour of the New Lender; and 

 

	 	(v)	the New Lender shall become a Party as a “Lender”. 

  

	32.6	Procedure for assignment 

  

	 	(a)	Subject to the conditions set out in Clause 32.2 (Conditions of assignment or transfer) an assignment may be effected in accordance with paragraph
(c) below when the Agent executes an otherwise duly completed Assignment Agreement delivered to it by the Existing Lender and the New Lender. The Agent shall, subject to paragraph (b) below, as soon as reasonably practicable after receipt
by it of a duly completed Assignment Agreement appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Assignment Agreement. 

 

	 	(b)	The Agent shall only be obliged to execute an Assignment Agreement delivered to it by the Existing Lender and the New Lender once it is satisfied it has complied with all necessary “know your customer” or
other similar checks under all applicable laws and regulations in relation to the assignment to such New Lender. 

  

	 	(c)	Subject to Clause 32.10 (Pro rata interest settlement), on the Transfer Date: 

  

	 	(i)	the Existing Lender will assign absolutely to the New Lender the rights under the Finance Documents expressed to be the subject of the assignment in the Assignment Agreement; 

 

	 	(ii)	the Existing Lender will be released by each Obligor and the other Finance Parties from the obligations owed by it (the “Relevant Obligations”) and expressed to be the subject of the
release in the Assignment Agreement; and 

  

	 	(iii)	the New Lender shall become a Party as a “Lender” and will be bound by obligations equivalent to the Relevant Obligations. 

  
 - 127 - 

	 	(d)	Lenders may utilise procedures other than those set out in this Clause 32.6 to assign their rights under the Finance Documents (but not, without the consent of the relevant Obligor or unless in accordance with Clause
32.5 (Procedure for transfer), to obtain a release by that Obligor from the obligations owed to that Obligor by the Lenders nor the assumption of equivalent obligations by a New Lender) provided that they comply with the conditions set out in
Clause 32.2 (Conditions of assignment or transfer). 

  

	 	(e)	The Parties acknowledge that, in the absence of express provision, security passes together with an assignment (Art. 1692 of the Belgian Civil Code), but not together with a novation (Art. 1278 of the Belgian Civil
Code). 

  

	32.7	The Register 

 The Agent, acting solely for this purpose as an agent of the
Obligors, shall maintain at one of its offices a copy of each Transfer Certificate delivered to it and a register (the “Register”) for the recordation of the names and addresses of each Lender and the Commitments of and obligations
owing to each Lender. No transfer of an interest in a Commitment hereunder shall be effective unless and until recorded in the Register. The entries in the Register shall be conclusive absent manifest error and each Obligor, the Agent and each
Lender shall treat each person whose name is recorded in the Register as a Lender notwithstanding any notice to the contrary. 
  

	32.8	Copy documents to Company 

 The Agent shall, as
soon as reasonably practicable after it has executed a Transfer Certificate, an Assignment Agreement, a Designated Entity Accession Letter, an Increase Confirmation Notice or a Further Lender Accession Letter send to the Company a copy of that
Transfer Certificate, Assignment Agreement, Increase Confirmation Notice or Further Lender Accession Letter. 
  

	32.9	Security over Lenders’ rights 

 In addition to the other
rights provided to Lenders under this Clause 32.9, each Lender may without consulting with or obtaining consent from any Obligor at any time charge, assign or otherwise create Security in or over (whether by way of collateral or otherwise) all or
any of its rights under any Finance Document to secure obligations of that Lender including, without limitation: 
  

	 	(a)	any charge, assignment or other Security to secure obligations to a federal reserve or central bank; and 

  

	 	(b)	in the case of any Lender which is a fund, any charge, assignment or other Security granted to any holders (or trustee or representatives of holders) of obligations owed, or securities issued, by that Lender as Security
for those obligations or securities, 

 except that no such charge, assignment or Security shall: 

 

	 	(i)	release a Lender from any of its obligations under the Finance Documents or substitute the beneficiary of the relevant charge, assignment or Security for the Lender as a party to any of the Finance Documents; or

  
 - 128 - 

	 	(ii)	require any payments to be made by an Obligor or grant to any person any more extensive rights than those required to be made or granted to the relevant Lender under the Finance Documents. 

 

	32.10	Pro rata interest settlement 

 If the Agent has notified the
Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant to Clause 32.5 (Procedure for transfer) or any assignment pursuant to
Clause 32.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest Period): 

 

	 	(a)	any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the Existing Lender up to but excluding the Transfer
Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the Interest Period is longer than six
Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and 

  

	 	(b)	the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt: 

 

	 	(i)	when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and 

  

	 	(ii)	the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 32.10, have been payable to it on that date, but after deduction of the Accrued Amounts.

  

	 	(c)	An Existing Lender which retains the right to the Accrued Amounts pursuant to this Clause 32.10 but which does not have a Commitment shall be deemed not to be a Lender for the purposes of ascertaining whether the
agreement of any specified group of Lenders has been obtained to approve any request for a consent, waiver, amendment or other vote of Lenders under the Finance Documents. 

 

	32.11	Designated Entities 

  

	 	(a)	Any Lender, Issuing Bank, the Dollar Swingline Lender or the Euro Swingline Lender (a “Related Lender”) may designate an Affiliate (a “Designated Entity”) in
order to participate in or fund Loan(s) to or issue Letters of Credit on behalf of Borrowers incorporated in a particular jurisdiction or jurisdictions (“Designated Jurisdictions”) on its behalf. 

 

	 	(b)	An Affiliate of a Lender may become a Designated Entity by: 

  

	 	(i)	appearing in the list of Designated Entities in Schedule 15 (Designated Entities) of this Agreement and signing this Agreement as a Designated Entity; or 

  
 - 129 - 

	 	(ii)	acceding as a Designated Entity by delivering a Designated Entity Accession Letter duly executed by that Affiliate and its Related Lender. 

An accession referred to in paragraph (b)(ii) above shall become effective when the Agent executes such Designated Entity Accession Letter.
The Agent shall, subject to paragraph (c) below, as soon as reasonably practicable after receipt by it of a duly completed Designated Entity Accession Letter appearing on its face to comply with the terms of this Agreement and delivered in
accordance with the terms of this Agreement, execute that Designated Entity Accession Letter. 
  

	 	(c)	The Agent shall only be obliged to execute a Designated Entity Accession Letter delivered to it by a proposed Designated Entity and its Related Lender once it is satisfied it has complied with all necessary “know
your customer” or other similar checks under all applicable laws and regulations in relation to such proposed Designated Entity. 

  

	 	(d)	A Designated Entity does not have any Commitment and does not have any obligations under this Agreement prior to such Designated Entity participating in a Loan or issuing a Letter of Credit. 

 

	 	(e)	The relevant Related Lender shall provide the Agent with 5 Business Days’ written notice if it requires a Designated Entity to participate in or fund Loan(s) to or issue Letters of Credit on behalf of Borrowers
incorporated in a Designated Jurisdiction, specifying the Base Currency Amount of the Designated Entity’s participation in the relevant Loan(s) and the Agent shall inform the Company of that Designated Entity’s participation on the day of
receipt of such notice. 

  

	 	(f)	On the date a Designated Entity participates in or funds a Loan or issues a Letter of Credit, subject to paragraph (g) below: 

  

	 	(i)	such Designated Entity shall become a Party as a Lender or an Issuing Bank (as applicable) and such Designated Entity and each of the other Finance Parties shall assume the same obligations towards one another and
acquire the same rights against one another as that Designated Entity and those Finance Parties would have assumed and/or acquired had the Designated Entity been an Original Lender or the existing Issuing Bank; and 

 

	 	(ii)	the Obligors and such Designated Entity shall assume the same obligations towards one another and acquire the same rights against one another as the Obligors and that Designated Entity would have assumed and/or acquired
had the Designated Entity been an Original Lender or the existing Issuing Bank. 

  

	 	(g)	For the purposes only of voting in connection with any Finance Document, the participation of a Designated Entity in any outstanding Utilisations shall be deemed to be a participation of the Related Lender.

  

	 	(h)	A Related Lender will: 

  
 - 130 - 

	 	(i)	so long as the relevant Designated Entity is able to do so, procure that, subject to the terms of this Agreement, that Designated Entity participates in or funds Loan(s) to or issues Letters of Credit on behalf of
Borrower(s) in its Designated Jurisdiction; and 

  

	 	(ii)	subject to the terms of this Agreement, assume the obligations of the relevant Designated Entity if that Designated Entity becomes a Non- Acceptable L/C Lender or a Defaulting Lender. 

 

	 	(i)	Any notice or communication to be made to a Designated Entity shall be served directly on the Designated Entity at the address supplied to the Agent by the Related Lender or the Designated Entity with a copy to the
Related Lender in accordance with this Agreement. 

  

	 	(j)	A Designated Entity may assign or transfer any of its rights and obligations under this Agreement in respect of its participation in any Utilisation (and the Related Lender may assign or transfer any corresponding
Commitment) in accordance with this Clause 32. 

  

	33.	CHANGES TO THE OBLIGORS 

  

	33.1	Assignments and transfers by Obligors 

 No Obligor may assign
any of its rights or transfer any of its rights or obligations under the Finance Documents. 
  

	33.2	Additional Borrowers 

  

	 	(a)	Subject to compliance with the provisions of paragraphs (c) and (d) of Clause 28.8 (“Know your customer” checks), the Company may request that any of its Subsidiaries becomes an Additional
Borrower. That Subsidiary shall become an Additional Borrower if: 

  

	 	(i)	all the Lenders approve the addition of that Subsidiary responding within a reasonable timeframe; 

  

	 	(ii)	the Company delivers to the Agent a duly completed and executed Accession Letter; 

  

	 	(iii)	the Company confirms that no Default is continuing or would occur as a result of that Subsidiary becoming an Additional Borrower; and 

 

	 	(iv)	the Agent has received all of the documents and other evidence listed in Part II of Schedule 2 (Conditions Precedent) in relation to that Additional Borrower, each in form and substance reasonably
satisfactory to the Agent. 

  

	 	(b)	The Agent shall notify the Company and the Lenders promptly upon being satisfied that it has received (in form and substance reasonably satisfactory to it) all the documents and other evidence listed in Part II of
Schedule 2 (Conditions Precedent). 

  
 - 131 - 

	 	(c)	Other than to the extent that the Majority Lenders notify the Agent in writing to the contrary before the Agent gives the notification described in paragraph (b) above, the Lenders authorise (but do not require)
the Agent to give that notification. The Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving any such notification. 

  

	33.3	Resignation of a Borrower 

  

	 	(a)	The Company may request that a Borrower (other than the Company) ceases to be a Borrower by delivering to the Agent a Resignation Letter. 

 

	 	(b)	The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if: 

  

	 	(i)	no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); and 

 

	 	(ii)	the Borrower is under no actual or contingent obligations as a Borrower under any Finance Documents, 

at which time that company shall cease to be a Borrower and shall have no further rights or obligations under the Finance Documents. 

 

	33.4	Additional Guarantors 

  

	 	(a)	Subject to compliance with the provisions of paragraphs (c) and (d) of Clause 28.8 (“Know your customer” checks), the Company may request that any of its
Subsidiaries become an Additional Guarantor. That Subsidiary shall become an Additional Guarantor if: 

  

	 	(i)	the Company delivers to the Agent a duly completed and executed Accession Letter; and 

  

	 	(ii)	the Agent has received all of the documents and other evidence listed in Part II of Schedule 2 (Conditions Precedent) in relation to that Additional Guarantor, each in form and substance reasonably
satisfactory to the Agent. 

  

	 	(b)	The Agent shall notify the Company and the Lenders promptly upon being satisfied that it has received (in form and substance reasonably satisfactory to it) all the documents and other evidence listed in Part II of
Schedule 2 (Conditions Precedent). 

  

	 	(c)	Other than to the extent that the Majority Lenders notify the Agent in writing to the contrary before the Agent gives the notification described in paragraph (b) above, the Lenders authorise (but do not require)
the Agent to give that notification. The Agent shall not be liable for any damages, costs or losses whatsoever as a result of giving any such notification. 

  
 - 132 - 

	33.5	Repetition of representations 

 Delivery of an Accession Letter
constitutes confirmation by the relevant Subsidiary that the Repeating Representations are true and correct in relation to it as at the date of delivery as if made by reference to the facts and circumstances then existing. 

 

	33.6	Resignation of a Guarantor 

  

	 	(a)	The Company may request that a Guarantor (other than the Company) ceases to be a Guarantor by delivering to the Agent a Resignation Letter. 

 

	 	(b)	The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if: 

  

	 	(i)	no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); 

 

	 	(ii)	all the Lenders have consented to the Company’s request; and 

  

	 	(iii)	where the Guarantor is also a Borrower, it is under no actual or contingent obligations as a Borrower and has resigned and ceased to be a Borrower under Clause 33.3 (Resignation of a Borrower),

 at which time that company shall cease to be a Guarantor and shall have no further rights or obligations under the Finance
Documents. 

  
 - 133 - 

 SECTION 10 

THE FINANCE PARTIES 
  

	34.	ROLE OF THE AGENT AND THE ARRANGER 

  

	34.1	Appointment of the Agent 

  

	 	(a)	Each other Finance Party appoints the Agent to act as its agent under and in connection with the Finance Documents. 

  

	 	(b)	Each other Finance Party authorises the Agent to perform the duties, obligations and responsibilities and to exercise the rights, powers, authorities and discretions specifically given to the Agent under or in
connection with the Finance Documents together with any other incidental rights, powers, authorities and discretions. 

  

	34.2	Instructions 

  

	 	(a)	The Agent shall: 

  

	 	(i)	unless a contrary indication appears in a Finance Document, exercise or refrain from exercising any right, power, authority or discretion vested in it as Agent in accordance with any instructions given to it by:

  

	 	(A)	all Lenders if the relevant Finance Document stipulates the matter is an all Lender decision; and 

  

	 	(B)	in all other cases, the Majority Lenders; and 

  

	 	(ii)	not be liable for any act (or omission) if it acts (or refrains from acting) in accordance with paragraph (i) above. 

  

	 	(b)	The Agent shall be entitled to request instructions, or clarification of any instruction, from the Majority Lenders (or, if the relevant Finance Document stipulates the matter is a decision for any other Lender or group
of Lenders, from that Lender or group of Lenders) as to whether, and in what manner, it should exercise or refrain from exercising any right, power, authority or discretion. The Agent may refrain from acting unless and until it receives any such
instructions or clarification that it has requested. 

  

	 	(c)	Save in the case of decisions stipulated to be a matter for any other Lender or group of Lenders under the relevant Finance Document and unless a contrary indication appears in a Finance Document, any instructions given
to the Agent by the Majority Lenders shall override any conflicting instructions given by any other Parties and will be binding on all Finance Parties. 

  

	 	(d)	The Agent may refrain from acting in accordance with any instructions of any Lender or group of Lenders until it has received any indemnification and/or security that it may in its discretion require (which may be
greater in extent than that contained in the Finance Documents and which may include payment in advance) for any cost, loss or liability which it may incur in complying with those instructions. 

  
 - 134 - 

	 	(e)	In the absence of instructions, the Agent may act (or refrain from acting) as it considers to be in the best interest of the Lenders. 

 

	 	(f)	The Agent is not authorised to act on behalf of a Lender (without first obtaining that Lender’s consent) in any legal or arbitration proceedings relating to any Finance Document. 

 

	34.3	Information requests 

 Subject to any confidentiality obligations or
conflicting duties, the Agent shall, on the request of the Company, promptly provide information on any instructions, clarifications, indemnities or any other such requests that the Agent has sought from the Lenders, including details of any
deadline that the Agent has stipulated for the Lenders to respond to such requests and the number of such responses the Agent has received as at the date of the Company’s request. 

 

	34.4	Duties of the Agent 

  

	 	(a)	The Agent’s duties under the Finance Documents are solely mechanical and administrative in nature. 

  

	 	(b)	Subject to paragraph (c) below, the Agent shall promptly forward to a Party the original or a copy of any document which is delivered to the Agent for that Party by any other Party. 

 

	 	(c)	Without prejudice to Clause 32.8 (Copy documents to Company), paragraph (a) above shall not apply to any Transfer Certificate or to any Assignment
Agreement. 

  

	 	(d)	Except where a Finance Document specifically provides otherwise, the Agent is not obliged to review or check the adequacy, accuracy or completeness of any document it forwards to another Party. 

 

	 	(e)	If the Agent receives notice from a Party referring to this Agreement, describing a Default and stating that the circumstance described is a Default, it shall promptly notify the other Finance Parties.

  

	 	(f)	If the Agent is aware of the non-payment of any principal, interest, commitment fee or other fee payable to a Finance Party (other than the Agent or the Arranger or the
Coordinator) under this Agreement, it shall promptly notify the other Finance Parties. 

  

	 	(g)	The Agent shall only have those duties, obligations and responsibilities expressly specified in the Finance Documents to which it is expressed to be a party (and no others shall be implied). 

 

	34.5	Role of the Arranger and Coordinator 

 Except
as specifically provided in the Finance Documents, neither the Arranger nor the Coordinator has obligations of any kind to any other Party under or in connection with any Finance Document. 

  
 - 135 - 

	34.6	No fiduciary duties 

  

	 	(a)	Nothing in any Finance Document constitutes the Agent, the Arranger, the Issuing Bank, any Swingline Agent or the Coordinator as a trustee or fiduciary of any other person. 

 

	 	(b)	None of the Agent, the Arranger, the Issuing Bank, a Swingline Agent, a Swingline Lender or the Coordinator shall be bound to account to any Lender for any sum or the profit element of any sum received by it for its own
account. 

  

	34.7	Business with the Group 

 The Agent, the Arranger and the
Coordinator may accept deposits from, lend money to and generally engage in any kind of banking or other business with any member of the Group. 
  

	34.8	Rights and discretions 

  

	 	(a)	The Agent, the Issuing Bank and the Swingline Agents may: 

  

	 	(i)	rely on any representation, communication, notice or document believed by it to be genuine, correct and appropriately authorised; 

  

	 	(ii)	assume that: 

  

	 	(A)	any instructions received by it from the Majority Lenders, any Lenders or any group of Lenders are duly given in accordance with the terms of the Finance Documents; and 

 

	 	(B)	unless it has received notice of revocation, that those instructions have not been revoked; and 

  

	 	(iii)	rely on a certificate from any person: 

  

	 	(A)	as to any matter of fact or circumstance which might reasonably be expected to be within the knowledge of that person; or 

  

	 	(B)	to the effect that such person approves of any particular dealing, transaction, step, action or thing, 

as sufficient evidence that that is the case and, in the case of paragraph (A) above, may assume the truth and accuracy of that
certificate. 
  

	 	(b)	The Agent may assume (unless it has received notice to the contrary in its capacity as agent for the Lenders) that: 

  

	 	(i)	each Finance Party has rights pursuant to Clause 27.17 (Sanctions and anti-corruption) and Clause 30.12 (Sanctions and anti-corruption) (including
voting rights in respect of amendments or waivers relating to Clause 27.17 (Sanctions and anti-corruption) and Clause 30.12 (Sanctions and anti-corruption)); 

  
 - 136 - 

	 	(ii)	no Default has occurred (unless it has actual knowledge of a Default arising under Clause 31.1 (Non-payment)); 

 

	 	(iii)	any right, power, authority or discretion vested in any Party or any group of Lenders has not been exercised; and 

  

	 	(iv)	any notice or request made by the Company (other than a Utilisation Request) is made on behalf of and with the consent and knowledge of all the Obligors. 

 

	 	(c)	The Agent, the Issuing Bank and any Swingline Agent may engage and pay for the advice or services of any lawyers, accountants, tax advisers, surveyors or other professional advisers or experts. 

 

	 	(d)	Without prejudice to the generality of paragraph (c) above or paragraph (e) below, the Agent, the Issuing Bank or a Swingline Agent may at any time engage and pay for the services of any lawyers to act as
independent counsel to such Finance Party (and so separate from any lawyers instructed by the Lenders) if the Agent, Issuing Bank or a Swingline Agent in its reasonable opinion deems this to be necessary. 

 

	 	(e)	The Agent may rely on the advice or services of any lawyers, accountants, tax advisers, surveyors or other professional advisers or experts (whether obtained by the Agent or by any other Party) and shall not be liable
for any damages, costs or losses to any person, any diminution in value or any liability whatsoever arising as a result of its so relying. 

  

	 	(f)	The Agent, Issuing Bank and Swingline Agents may act in relation to the Finance Documents through its officers, employees and agents. 

 

	 	(g)	Unless a Finance Document expressly provides otherwise, the Agent and any Swingline Agent may disclose to any other Party any information it reasonably believes it has received as agent under this Agreement.

  

	 	(h)	Notwithstanding any other provision of any Finance Document to the contrary, none of the Agent, the Arranger, the Issuing Bank, any Swingline Agent or the Coordinator is obliged to do or omit to do anything if it would,
or might in its reasonable opinion, constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of confidentiality. 

  

	 	(i)	Notwithstanding any provision of any Finance Document to the contrary, none of the Agent, the Issuing Bank or any Swingline Agent is obliged to expend or risk its own funds or otherwise incur any financial liability in
the performance of its duties, obligations or responsibilities or the exercise of any right, power, authority or discretion if it has grounds for believing the repayment of such funds or adequate indemnity against, or security for, such risk or
liability is not reasonably assured to it. 

  
 - 137 - 

	 	(j)	The Agent may refrain, without liability, from doing anything that would or might in its opinion be contrary to any law of any state or jurisdiction (including but not limited to the U.S. or any jurisdiction forming a
part of it and England and Wales) or any directive or regulation of any agency of any such state or jurisdiction and may, without liability, do anything which is, in its opinion, necessary to comply with any such law, directive or regulation.

  

	34.9	Responsibility for documentation 

 None of the Agent, the Arranger, the
Issuing Bank, any Swingline Agent, any Swingline Lender or the Coordinator is responsible or liable for: 
  

	 	(a)	the adequacy, accuracy or completeness of any information (whether oral or written) provided by the Agent, the Arranger, the Issuing Bank, any Swingline Agent, any Swingline Lender, the Coordinator, an Obligor or any
other person in connection with any Finance Document, the Debtdomain Information or the transactions contemplated by the Finance Documents or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in
connection with any Finance Document; 

  

	 	(b)	the legality, validity, effectiveness, adequacy or enforceability of any Finance Document or any other agreement, arrangement or document entered into, made or executed in anticipation of or in connection with any
Finance Document; or 

  

	 	(c)	any determination as to whether any information provided or to be provided to any Finance Party is non-public information the use of which may be regulated or prohibited by
applicable law or regulation relating to insider dealing or otherwise. 

  

	34.10	No duty to monitor 

 None of the Agent, the
Issuing Bank or any Swingline Agent shall be bound to enquire: 
  

	 	(a)	whether or not any Default has occurred; 

  

	 	(b)	as to the performance, default or any breach by any Party of its obligations under any Finance Document; or 

  

	 	(c)	whether any other event specified in any Finance Document has occurred. 

  

	34.11	Exclusion of liability 

  

	 	(a)	Without limiting paragraph (b) below (and without prejudice to any other provision of any Finance Document excluding or limiting the liability of the Agent, the Issuing Bank, any Swingline Agent or any Swingline
Lender), none of the Agent, the Issuing Bank, any Swingline Agent or any Swingline Lender will be liable for: 

  

	 	(i)	any damages, costs or losses to any person, any diminution in value, or any liability whatsoever arising as a result of taking or not taking any action under or in connection with any Finance Document, unless directly
caused by its gross negligence or wilful misconduct; 

  
 - 138 - 

	 	(ii)	exercising, or not exercising, any right, power, authority or discretion given to it by, or in connection with, any Finance Document or any other agreement, arrangement or document entered into, made or executed in
anticipation of, under or in connection with, any Finance Document, other than by reason of its gross negligence or wilful misconduct; or 

  

	 	(iii)	without prejudice to the generality of paragraphs (i) and (ii) above, any damages, costs or losses to any person, any diminution in value or any liability whatsoever (including, without limitation, for negligence
or any other category of liability whatsoever but not including any claim based on the fraud of the Agent) arising as a result of: 

  

	 	(A)	any act, event or circumstance not reasonably within its control; or 

  

	 	(B)	the general risks of investment in, or the holding of assets in, any jurisdiction, 

 including
(in each case and without limitation) such damages, costs, losses, diminution in value or liability arising as a result of: nationalisation, expropriation or other governmental actions; any regulation, currency restriction, devaluation or
fluctuation; market conditions affecting the execution or settlement of transactions or the value of assets (including any Disruption Event); breakdown, failure or malfunction of any third party transport, telecommunications, computer services or
systems; natural disasters or acts of God; war, terrorism, insurrection or revolution; or strikes or industrial action. 
  

	 	(b)	No Party (other than the Agent, the Issuing Bank, a Swingline Agent or a Swingline Lender) may take any proceedings against any officer, employee or agent of the Agent, the Issuing Bank, a Swingline Agent or a Swingline
Lender in respect of any claim it might have against the Agent the Issuing Bank, a Swingline Agent or a Swingline Lender or in respect of any act or omission of any kind by that officer, employee or agent in relation to any Finance Document and any
officer, employee or agent of the Agent the Issuing Bank, a Swingline Agent or a Swingline Lender may rely on this Clause subject to Clause 1.4 (Third party rights) and the provisions of the Third Parties Act.

  

	 	(c)	The Agent will not be liable for any delay (or any related consequences) in crediting an account with an amount required under the Finance Documents to be paid by the Agent if the Agent has taken all necessary steps as
soon as reasonably practicable to comply with the regulations or operating procedures of any recognised clearing or settlement system used by the Agent for that purpose. 

  
 - 139 - 

	 	(d)	Nothing in this Agreement shall oblige the Agent, the Arranger or the Coordinator to carry out: 

  

	 	(i)	any “know your customer” or other checks in relation to any person; or 

  

	 	(ii)	any check on the extent to which any transaction contemplated by this Agreement might be unlawful for any Lender or for any Affiliate of any Lender, 

on behalf of any Lender; and each Lender confirms to the Agent, the Arranger and the Coordinator that it is solely responsible for any such
checks it is required to carry out and that it may not rely on any statement in relation to such checks made by the Agent, the Arranger or the Coordinator. 
  

	 	(e)	Without prejudice to any provision of any Finance Document excluding or limiting the Agent’s liability, any liability of the Agent arising under or in connection with any Finance Document shall be limited to the
amount of actual loss which has been suffered (as determined by reference to the date of default of the Agent or, if later, the date on which the loss arises as a result of such default) but without reference to any special conditions or
circumstances known to the Agent at any time which increase the amount of that loss. In no event shall the Agent be liable for any loss of profits, goodwill, reputation, business opportunity or anticipated saving, or for special, punitive, indirect
or consequential damages, whether or not the Agent has been advised of the possibility of such loss or damages. 

  

	34.12	Lenders’ indemnity to the Agent 

 Each
Lender shall (in proportion to its share of the Total Commitments or, if the Total Commitments are then zero, to its share of the Total Commitments immediately prior to their reduction to zero) indemnify the Agent, within 3 Business Days of demand,
against any cost, loss or liability (including, without limitation, for negligence or any other category of liability whatsoever) incurred by the Agent (otherwise than by reason of the Agent’s gross negligence or wilful misconduct) (or, in the
case of any cost, loss or liability pursuant to Clause 37.10 (Disruption to payment systems etc.) notwithstanding the Agent’s negligence, gross negligence or any other category of liability whatsoever but not including any claim based on
the fraud of the Agent) in acting as Agent under the Finance Documents (unless the Agent has been reimbursed by an Obligor pursuant to a Finance Document). 
  

	34.13	Resignation of the Agent 

  

	 	(a)	The Agent may resign and appoint one of its Affiliates acting through an office in the United Kingdom as successor by giving notice to the other Finance Parties and the Company. 

 

	 	(b)	Alternatively the Agent may resign by giving 30 days’ notice to the other Finance Parties and the Company, in which case the Majority Lenders (after consultation with the Company) may appoint a successor Agent.

  
 - 140 - 

	 	(c)	If the Majority Lenders have not appointed a successor Agent in accordance with paragraph (b) above within 20 days after notice of resignation was given, the retiring Agent (after consultation with the Company) may
appoint a successor Agent (acting through an office in the United Kingdom). 

  

	 	(d)	If the Agent wishes to resign because (acting reasonably) it has concluded that it is no longer appropriate for it to remain as agent and the Agent is entitled to appoint a successor Agent under paragraph
(c) above, the Agent (after consultation with the Company) may (if it concludes (acting reasonably) that it is necessary to do so in order to persuade the proposed successor Agent to become a party to this Agreement as Agent) agree with the
proposed successor Agent amendments to this Clause 34 and any other term of this Agreement dealing with the rights or obligations of the Agent consistent with then current market practice for the appointment and protection of corporate trustees
together with any reasonable amendments to the agency fee payable under this Agreement which are consistent with the successor Agent’s normal fee rates and those amendments will bind the Parties. 

 

	 	(e)	The retiring Agent shall, at its own cost, make available to the successor Agent such documents and records and provide such assistance as the successor Agent may reasonably request for the purposes of performing its
functions as Agent under the Finance Documents. 

  

	 	(f)	The Agent’s resignation notice shall only take effect upon the appointment of a successor. 

  

	 	(g)	Upon the appointment of a successor, the retiring Agent shall be discharged from any further obligation in respect of the Finance Documents (other than its obligations under paragraph (e) above) but shall remain
entitled to the benefit of Clause 23.3 (Indemnity to the Agent) and this Clause 34 (and any agency fees for the account of the retiring Agent shall cease to accrue from (and shall be payable on) that
date and any agency fees that have been paid in advance shall be repaid in proportion to the period of effective appointment). Any successor and each of the other Parties shall have the same rights and obligations amongst themselves as they would
have had if such successor had been an original Party. 

  

	 	(h)	After consultation with the Company, the Majority Lenders may, by notice to the Agent, require it to resign in accordance with paragraph (b) above. In this event, the Agent shall resign in accordance with paragraph
(b) above. 

  

	 	(i)	The Agent shall resign in accordance with paragraph (b) above (and, to the extent applicable. shall use reasonable endeavours to appoint a successor Agent pursuant to paragraph (c) above) if on or after the
date which is three months before the earliest FATCA Application Date relating to any payment to the Agent under the Finance Documents, either: 

  

	 	(i)	the Agent fails to respond to a request under Clause 21.10 (FATCA information) and the Company or a Lender reasonably believes that the Agent will not be (or will have ceased to be) a FATCA Exempt
Party on or after that FATCA Application Date; 

  
 - 141 - 

	 	(ii)	the information supplied by the Agent pursuant to Clause 21.10 (FATCA information) indicates that the Agent will not be (or will have ceased to be) a FATCA Exempt Party on or after that FATCA Application Date; or

  

	 	(iii)	the Agent notifies the Company and the Lenders that the Agent will not be (or will have ceased to be) a FATCA Exempt Party on or after that FATCA Application Date, 

and (in each case) the Company or a Lender reasonably believes that a Party will be required to make a FATCA Deduction that would not be
required if the Agent were a FATCA Exempt Party, and the Company or that Lender, by notice to the Agent, requires it to resign. 
  

	34.14	Replacement of the Agent 

  

	 	(a)	After consultation with the Company, the Majority Lenders may, by giving 30 days’ notice to the Agent replace the Agent by appointing a successor Agent (acting through an office in the United Kingdom).

  

	 	(b)	The retiring Agent shall at the expense of the Lenders make available to the successor Agent such documents and records and provide such assistance as the successor Agent may reasonably request for the purposes of
performing its functions as Agent under the Finance Documents. 

  

	 	(c)	The appointment of the successor Agent shall take effect on the date specified in the notice from the Majority Lenders to the retiring Agent. As from this date, the retiring Agent shall be discharged from any further
obligation in respect of the Finance Documents but shall remain entitled to the benefit of this Clause 34 (and any agency fees for the account of the retiring Agent shall cease to accrue from (and shall be payable on) that date). 

 

	 	(d)	Any successor Agent and each of the other Parties shall have the same rights and obligations amongst themselves as they would have had if such successor had been an original Party. 

 

	34.15	Confidentiality 

  

	 	(a)	In acting as agent for the Finance Parties, the Agent shall be regarded as acting through its agency division which shall be treated as a separate entity from any other of its divisions or departments.

  

	 	(b)	If information is received by another division or department of the Agent, it may be treated as confidential to that division or department and the Agent shall not be deemed to have notice of it. 

 

	34.16	Relationship with the Lenders 

  

	 	(a)	Subject to Clause 32.10 (Pro rata interest settlement), the Agent may treat the person shown in its records as Lender at the opening of business (in the place of the
Agent’s principal office as notified to the Finance Parties from time to time) as the Lender acting through its Facility Office: 

  
 - 142 - 

	 	(i)	entitled to or liable for any payment due under any Finance Document on that day; and 

  

	 	(ii)	entitled to receive and act upon any notice, request, document or communication or make any decision or determination under any Finance Document made or delivered on that day, 

unless it has received not less than 5 Business Days’ prior notice from that Lender to the contrary in accordance with the terms of this
Agreement. 
  

	 	(b)	Any Lender may by notice to the Agent appoint a person to receive on its behalf all notices, communications, information and documents to be made or despatched to that Lender under the Finance Documents. Such notice
shall contain the address, fax number and (where communication by electronic mail or other electronic means is permitted under Clause 39.5 (Electronic communication)) electronic mail address and/or any other information required
to enable transmission of information by that means (and, in each case, the department or officer, if any, for whose attention communication is to be made) and be treated as a notification of a substitute address, fax number, electronic mail address
(or such other information), department and officer by that Lender for the purposes of Clause 39.2 (Addresses) and paragraph (a) of Clause 39.5 (Electronic communication) and the Agent shall be entitled to treat such
person as the person entitled to receive all such notices, communications, information and documents as though that person were that Lender. 

  

	34.17	Credit appraisal by the Lenders 

 Without affecting the responsibility of
any Obligor for information supplied by it or on its behalf in connection with any Finance Document, each Lender confirms to the Agent, the Arranger, the Issuing Bank, each Swingline Agent, each Swingline Lender, and the Coordinator that it has
been, and will continue to be, solely responsible for making its own independent appraisal and investigation of all risks arising under or in connection with any Finance Document including but not limited to: 

 

	 	(a)	the financial condition, creditworthiness, condition, affairs, status and nature of each member of the Group; 

  

	 	(b)	the legality, validity, effectiveness, adequacy or enforceability of any Finance Document and any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with
any Finance Document; 

  

	 	(c)	whether that Lender has recourse, and the nature and extent of that recourse, against any Party or any of its respective assets under or in connection with any Finance Document, the transactions contemplated by the
Finance Documents or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document; and 

  
 - 143 - 

	 	(d)	the adequacy, accuracy and/or completeness of the Debtdomain Information and any other information provided by the Agent, any Party or by any other person under or in connection with any Finance Document, the
transactions contemplated by the Finance Documents or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document, 

and each Lender warrants to the Agent, the Arranger, the Issuing Bank, each Swingline Agent, each Swingline Lender and the Coordinator that it
has not relied on and will not at any time rely on the Agent, the Arranger, the Issuing Bank, each Swingline Agent, each Swingline Lender or the Coordinator in respect of any of these matters. 

 

	34.18	Agent’s management time 

 Any amount payable to the Agent under Clause
23.3 (Indemnity to the Agent), Clause 25 (Costs and expenses) and Clause 34.12 (Lenders’ indemnity to the Agent) shall include the cost, in an amount certified in reasonable detail by the Agent, of utilising the
Agent’s management time or other resources and will be calculated on the basis of such reasonable daily or hourly rates as the Agent may notify to the Company and the Lenders, and is in addition to any fee paid or payable to the Agent under
Clause 20 (Fees). 
  

	34.19	Deduction from amounts payable by the Agent 

If any Party owes an amount to the Agent under the Finance Documents the Agent may, after giving notice to that Party, deduct an amount not
exceeding that amount from any payment to that Party which the Agent would otherwise be obliged to make under the Finance Documents and apply the amount deducted in or towards satisfaction of the amount owed. For the purposes of the Finance
Documents that Party shall be regarded as having received any amount so deducted. 
  

	34.20	Role of Reference Banks 

  

	 	(a)	No Reference Bank is under any obligation to provide a quotation or any other information to the Agent. 

  

	 	(b)	No Reference Bank will be liable for any action taken by it under or in connection with any Finance Document, or for any Reference Bank Quotation, unless directly caused by its gross negligence or wilful misconduct.

  

	 	(c)	No Party (other than the relevant Reference Bank) may take any proceedings against any officer, employee or agent of any Reference Bank in respect of any claim it might have against that Reference Bank or in respect of
any act or omission of any kind by that officer, employee or agent in relation to any Finance Document, or to any Reference Bank Quotation, and any officer, employee or agent of each Reference Bank may rely on this Clause 34.20 subject to Clause 1.4
(Third party rights) and the provisions of the Third Parties Act. 

  
 - 144 - 

	34.21	Third party Reference Banks 

 A Reference Bank
which is not a Party may rely on Clause 34.20 (Role of Reference Banks), Clause 43.4 (Other exceptions) and Clause 45 (Confidentiality of Funding Rates and Reference Bank Quotations), subject to Clause 1.4 (Third party
rights) and the provisions of the Third Parties Act. 
  

	35.	CONDUCT OF BUSINESS BY THE FINANCE PARTIES 

No provision of this Agreement will: 
  

	 	(a)	interfere with the right of any Finance Party to arrange its affairs (tax or otherwise) in whatever manner it thinks fit; 

  

	 	(b)	oblige any Finance Party to investigate or claim any credit, relief, remission or repayment available to it or the extent, order and manner of any claim; or 

 

	 	(c)	oblige any Finance Party to disclose any information relating to its affairs (tax or otherwise) or any computations in respect of Tax. 

 

	36.	SHARING AMONG THE FINANCE PARTIES 

  

	36.1	Payments to Finance Parties 

 If a Finance
Party (a “Recovering Finance Party”) receives or recovers any amount from an Obligor other than in accordance with Clause 37 (Payment Mechanics) (a “Recovered Amount”) and applies that amount to a payment due
under the Finance Documents then: 
  

	 	(a)	the Recovering Finance Party shall, within 3 Business Days, notify details of the receipt or recovery, to the Agent; 

  

	 	(b)	the Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Finance Party would have been paid had the receipt or recovery been received or made by the Agent and distributed in
accordance with Clause 37 (Payment Mechanics), without taking account of any Tax which would be imposed on the Agent in relation to the receipt, recovery or distribution; and 

 

	 	(c)	the Recovering Finance Party shall, within 3 Business Days of demand by the Agent, pay to the Agent an amount (the “Sharing Payment”) equal to such receipt or recovery less any amount
which the Agent determines may be retained by the Recovering Finance Party as its share of any payment to be made, in accordance with Clause 37.5 (Partial payments). 

 

	36.2	Redistribution of payments 

 The Agent shall treat the Sharing Payment as
if it had been paid by the relevant Obligor and distribute it between the Finance Parties (other than the Recovering Finance Party) (the “Sharing Finance Parties”) in accordance with Clause 37.5 (Partial payments) towards the
obligations of that Obligor to the Sharing Finance Parties. 

  
 - 145 - 

	36.3	Recovering Finance Party’s rights 

 On a
distribution by the Agent under Clause 36.2 (Redistribution of payments) of a payment received by a Recovering Finance Party from an Obligor as between the relevant Obligor and the Recovering Finance Party, an amount of the Recovered Amount
equal to the Sharing Payment will be treated as not having been paid by that Obligor. 
  

	36.4	Reversal of redistribution 

 If any part of the Sharing Payment
received or recovered by a Recovering Finance Party becomes repayable and is repaid by that Recovering Finance Party, then: 
  

	 	(a)	each Sharing Finance Party shall, upon request of the Agent, pay to the Agent for the account of that Recovering Finance Party an amount equal to the appropriate part of its share of the Sharing Payment (together with
an amount as is necessary to reimburse that Recovering Finance Party for its proportion of any interest on the Sharing Payment which that Recovering Finance Party is required to pay) (the “Redistributed Amount”); and

  

	 	(b)	as between the relevant Obligor and each relevant Sharing Finance Party, an amount equal to the relevant Redistributed Amount will be treated as not having been paid by that Obligor. 

 

	36.5	Exceptions 

  

	 	(a)	This Clause 36 shall not apply to the extent that the Recovering Finance Party would not, after making any payment pursuant to this Clause, have a valid and enforceable claim against the relevant Obligor.

  

	 	(b)	A Recovering Finance Party is not obliged to share with any other Finance Party any amount which the Recovering Finance Party has received or recovered as a result of taking legal or arbitration proceedings, if:

  

	 	(i)	it notified that other Finance Party of the legal or arbitration proceedings; and 

  

	 	(ii)	that other Finance Party had an opportunity to participate in those legal or arbitration proceedings but did not do so as soon as reasonably practicable having received notice and did not take separate legal or
arbitration proceedings. 

  
 - 146 - 

 SECTION 11 

ADMINISTRATION 
  

	37.	PAYMENT MECHANICS 

  

	37.1	Payments to the Agent 

  

	 	(a)	On each date on which an Obligor or a Lender is required to make a payment under a Finance Document, that Obligor or Lender shall make the same available to the Agent (unless a contrary indication appears in a Finance
Document) for value on the due date at the time and in such funds specified by the Agent as being customary at the time for settlement of transactions in the relevant currency in the place of payment. 

 

	 	(b)	Payment shall be made to such account in the principal financial centre of the country of that currency (or, in relation to euro, in a principal financial centre in such Participating Member State or London, as
specified by the Agent) and with such bank as the Agent, in each case, specifies. 

  

	37.2	Distributions by the Agent 

 Each payment received by the Agent under the
Finance Documents for another Party shall, subject to Clause 37.3 (Distributions to an Obligor), Clause 37.4 (Clawback and pre-funding) and Clause 34.19 (Deduction from amounts payable by the
Agent) be made available by the Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this Agreement (in the case of a Lender, for the account of its Facility Office), to such account as that
Party may notify to the Agent by not less than 5 Business Days’ notice with a bank specified by that Party in the principal financial centre of the country of that currency (or, in relation to euro, in the principal financial centre of a
Participating Member State or London, as specified by that Party). 
  

	37.3	Distributions to an Obligor 

 The Agent may (with the consent
of the Obligor or in accordance with Clause 38 (Set-off)) apply any amount received by it for that Obligor in or towards payment (on the date and in the currency and funds of receipt) of any amount due from that Obligor under the Finance
Documents or in or towards purchase of any amount of any currency to be so applied. 
  

	37.4	Clawback and pre-funding 

  

	 	(a)	Where a sum is to be paid to the Agent under the Finance Documents for another Party, the Agent is not obliged to pay that sum to that other Party (or to enter into or perform any related exchange contract) until it has
been able to establish to its satisfaction that it has actually received that sum. However, the Agent may assume that the sum has been paid to it, and, in reliance on that assumption, make available to that Party a corresponding amount.

  

	 	(b)	If the Agent pays an amount to another Party and it proves to be the case that the Agent had not actually received that amount, then the Party to whom that amount (or the proceeds of any related exchange contract) was
paid by the Agent shall on demand refund the same to the Agent together with interest on that amount from the date of payment to the date of receipt by the Agent, calculated by the Agent to reflect its cost of funds. 

  
 - 147 - 

	 	(c)	If the Agent has notified the Lenders that it is willing to make available amounts for the account of a Borrower before receiving funds from the Lenders then it shall promptly inform the Company thereof and if and to
the extent that the Agent does so but it proves to be the case that it does not then receive funds from a Lender in respect of a sum which it paid to a Borrower: 

  

	 	(i)	the Borrower to whom that sum was made available shall on demand refund it to the Agent; and 

  

	 	(ii)	the Lender by whom those funds should have been made available or, if that Lender fails to do so, the Borrower to whom that sum was made available, shall on demand pay to the Agent the amount (as certified by the Agent)
which will indemnify the Agent against any funding cost incurred by it as a result of paying out that sum before receiving those funds from that Lender. 

  

	37.5	Partial payments 

  

	 	(a)	If the Agent receives a payment that is insufficient to discharge all the amounts then due and payable by an Obligor under the Finance Documents, the Agent shall apply that payment towards the obligations of that
Obligor under the Finance Documents in the following order: 

  

	 	(i)	first, in or towards payment pro rata of any unpaid amount owing to the Agent, the Issuing Bank, each Swingline Agent and each Swingline Lender (but only if the Dollar Swingline Loans
or the Euro Swingline Loans, as relevant, have not been funded by any other Lenders) under the Finance Documents; 

  

	 	(ii)	secondly, in or towards payment pro rata of any accrued interest, fee or commission due but unpaid under this Agreement; 

 

	 	(iii)	thirdly, in or towards payment pro rata of any principal due but unpaid under this Agreement and any amount due but unpaid under Clauses 7.3 (Claims under
a Letter of Credit) and 7.4 (Indemnities); and 

  

	 	(iv)	fourthly, in or towards payment pro rata of any other sum due but unpaid under the Finance Documents. 

 

	 	(b)	The Agent shall, if so directed by the Majority Lenders, vary the order set out in paragraphs (a)(ii) to (a)(iv) above. 

  

	 	(c)	Paragraphs (a) and (b) above will override any appropriation made by an Obligor. 

  
 - 148 - 

	37.6	No set-off by Obligors 

All payments to be made by an Obligor under the Finance Documents shall be calculated and be made without (and free and clear of any deduction
for) set-off or counterclaim. 
  

	37.7	Business Days 

  

	 	(a)	Any payment under any Finance Document which is due to be made on a day that is not a Business Day shall be made on the next Business Day in the same calendar month (if there is one) or the preceding Business Day (if
there is not). 

  

	 	(b)	During any extension of the due date for payment of any principal or Unpaid Sum under this Agreement interest is payable on the principal or Unpaid Sum at the rate payable on the original due date. 

 

	37.8	Currency of account 

  

	 	(a)	Subject to paragraphs (b) to (e) below, the Base Currency is the currency of account and payment for any sum due from an Obligor under any Finance Document. 

 

	 	(b)	A repayment of a Utilisation or Unpaid Sum or a part of a Utilisation or Unpaid Sum shall be made in the currency in which that Utilisation or Unpaid Sum is denominated, pursuant to this Agreement, on its due date.

  

	 	(c)	Each payment of interest shall be made in the currency in which the sum in respect of which the interest is payable was denominated, pursuant to this Agreement, when that interest accrued. 

 

	 	(d)	Each payment in respect of costs, expenses or Taxes shall be made in the currency in which the costs, expenses or Taxes are incurred. 

 

	 	(e)	Any amount expressed to be payable in a currency other than the Base Currency shall be paid in that other currency. 

  

	37.9	Change of currency 

  

	 	(a)	Unless otherwise prohibited by law, if more than one currency or currency unit are at the same time recognised by the central bank of any country as the lawful currency of that country, then: 

 

	 	(i)	any reference in the Finance Documents to, and any obligations arising under the Finance Documents in, the currency of that country shall be translated into, or paid in, the currency or currency unit of that country
designated by the Agent (after consultation with the Company); and 

  

	 	(ii)	any translation from one currency or currency unit to another shall be at the official rate of exchange recognised by the central bank for the conversion of that currency or currency unit into the other, rounded up or
down by the Agent (acting reasonably). 

  
 - 149 - 

	 	(b)	If a change in any currency of a country occurs, this Agreement will, to the extent the Agent (acting reasonably and after consultation with the Company) specifies to be necessary, be amended to comply with any
generally accepted conventions and market practice in the Relevant Market and otherwise to reflect the change in currency. 

  

	37.10	Disruption to payment systems etc. 

If either the Agent determines (in its discretion) that a Disruption Event has occurred or the Agent is notified by the Company that a
Disruption Event has occurred: 
  

	 	(a)	the Agent may, and shall if requested to do so by the Company, consult with the Company with a view to agreeing with the Company such changes to the operation or administration of the Facilities as the Agent may deem
necessary in the circumstances; 

  

	 	(b)	the Agent shall not be obliged to consult with the Company in relation to any changes mentioned in paragraph (a) above if, in its opinion, it is not practicable to do so in the circumstances and, in any event,
shall have no obligation to agree to such changes; 

  

	 	(c)	the Agent may consult with the Finance Parties in relation to any changes mentioned in paragraph (a) above but shall not be obliged to do so if, in its opinion, it is not practicable to do so in the circumstances;

  

	 	(d)	any such changes agreed upon by the Agent and the Company shall (whether or not it is finally determined that a Disruption Event has occurred) be binding upon the Parties as an amendment to (or, as the case may be,
waiver of) the terms of the Finance Documents notwithstanding the provisions of Clause 43 (Amendments and Waivers); 

  

	 	(e)	the Agent shall not be liable for any damages, costs or losses to any person, any diminution in value or any liability whatsoever (including, without limitation for negligence, gross negligence or any other category of
liability whatsoever but not including any claim based on the fraud of the Agent) arising as a result of its taking, or failing to take, any actions pursuant to or in connection with this Clause 37.10; and 

 

	 	(f)	the Agent shall notify the Finance Parties of all changes agreed pursuant to paragraph (d) above. 

  

	38.	SET-OFF 

 A Finance Party may set-off any matured obligation due from an Obligor under the Finance Documents (to the extent beneficially owned by that Finance Party) against any matured obligation owed by that Finance Party to that Obligor,
regardless of the place of payment, booking branch or currency of either obligation. If the obligations are in different currencies, the Finance Party may convert either obligation at a market rate of exchange in its usual course of business for the
purpose of the set-off. 

  
 - 150 - 

	39.	NOTICES 

  

	39.1	Communications in writing 

 Any communication to be made under or in
connection with the Finance Documents shall be made in writing and, unless otherwise stated, may be made by fax or letter. 
  

	39.2	Addresses 

 The address and fax number (and the department or officer, if any, for whose
attention the communication is to be made) of each Party for any communication or document to be made or delivered under or in connection with the Finance Documents is: 
  

	 	(a)	in the case of the Company and any other Original Obligor, that identified with its name in the Amendment and Restatement Agreement; 

 

	 	(b)	in the case of each Lender, each Swingline Agent, each Swingline Lender, the Issuing Bank or any other Obligor, that notified in writing to the Agent on or prior to the date on which it becomes a Party; and

  

	 	(c)	in the case of the Agent, that identified with its name in the Amendment and Restatement Agreement, 

or any substitute address or fax number or department or officer as the Party may notify to the Agent (or the Agent may notify to the other
Parties, if a change is made by the Agent) by not less than 5 Business Days’ notice. 
  

	39.3	Delivery 

  

	 	(a)	Any communication or document made or delivered by one person to another under or in connection with the Finance Documents will only be effective: 

 

	 	(i)	if by way of fax, when received in legible form; or 

  

	 	(ii)	if by way of letter, when it has been left at the relevant address or 5 Business Days after being deposited in the post postage prepaid in an envelope addressed to it at that address, 

and, if a particular department or officer is specified as part of its address details provided under Clause 39.2 (Addresses), if
addressed to that department or officer. 
  

	 	(b)	Any communication or document to be made or delivered to the Agent will be effective only when actually received by the Agent and then only if it is expressly marked for the attention of the department or officer
identified with the Agent’s signature below (or any substitute department or officer as the Agent shall specify for this purpose). 

  

	 	(c)	All notices from or to an Obligor shall be sent through the Agent. 

  
 - 151 - 

	 	(d)	Any communication or document made or delivered to the Company in accordance with this Clause will be deemed to have been made or delivered to each of the Obligors. 

 

	 	(e)	Any communication or document which becomes effective, in accordance with paragraphs (a) to (d) above, after 5:00 p.m. in the place of receipt shall be deemed only to become effective on the following day.

  

	 	(f)	Any communication or document made or delivered to an Obligor (other than the Company) in accordance with this Clause shall be copied to the Company, c/o WABCO Europe BVBA, at the address and fax number set out below.

  

	39.4	Notification of address and fax number 

Promptly upon changing its address or fax number, the Agent shall notify the other Parties. 

 

	39.5	Electronic communication 

  

	 	(a)	Any communication to be made between any two Parties under or in connection with the Finance Documents may be made by electronic mail or other electronic means (including, without limitation, by way of posting to a
secure website) if those two Parties: 

  

	 	(i)	notify each other in writing of their electronic mail address and/or any other information required to enable the transmission of information by that means; and 

 

	 	(ii)	notify each other of any change to their address or any other such information supplied by them by not less than 5 Business Days’ notice. 

 

	 	(b)	The Parties agree that any such electronic communication as specified in paragraph (a) above shall be an accepted form of communication unless and until notified to the contrary. 

 

	 	(c)	Any such electronic communication as specified in paragraph (a) above made between any two Parties will be effective only when actually received (or made available) in readable form and in the case of any
electronic communication made by a Party to the Agent only if it is addressed in such a manner as the Agent shall specify for this purpose. 

  

	 	(d)	Any electronic communication which becomes effective, in accordance with paragraph (c) above, after 5:00 p.m. in the place in which the Party to whom the relevant communication is sent or made available has its
address for the purpose of this Agreement, and shall be deemed only to become effective on the following day. 

  

	 	(e)	Any reference in a Finance Document to a communication being sent or received shall be construed to include that communication being made available in accordance with this Clause 39.5. 

  
 - 152 - 

	39.6	English language 

  

	 	(a)	Any notice given under or in connection with any Finance Document must be in English. 

  

	 	(b)	All other documents provided under or in connection with any Finance Document must be: 

  

	 	(i)	in English; or 

  

	 	(ii)	if not in English, and if so required by the Agent, accompanied by a certified English translation and, in this case, the English translation will prevail unless the document is a constitutional, statutory or other
official document. 

  

	40.	CALCULATIONS AND CERTIFICATES 

  

	40.1	Accounts 

 In any litigation or arbitration proceedings arising out of or in connection
with a Finance Document, the entries made in the accounts maintained by a Finance Party are prima facie evidence of the matters to which they relate in the absence of manifest error. 

 

	40.2	Certificates and determinations 

 Any certification or determination by a
Finance Party of a rate or amount under any Finance Document is, in the absence of manifest error, conclusive evidence of the matters to which it relates. 
  

	40.3	Day count convention 

 Any interest, commission or fee accruing under a
Finance Document will accrue from day to day and is calculated on the basis of the actual number of days elapsed and a year of 360 days or, in any case where the practice in the Relevant Market differs, in accordance with that market practice (being
365 days in Hong Kong). 
  

	41.	PARTIAL INVALIDITY 

 If, at any time, any provision of a Finance Document
is or becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction, neither: 
  

	 	(a)	the legality, validity or enforceability of the remaining provisions; nor 

  

	 	(b)	the legality, validity or enforceability of such provision under the law of any other jurisdiction, 

will in any way be affected or impaired. 

  
 - 153 - 

	42.	REMEDIES AND WAIVERS 

 No failure to exercise, nor any delay in exercising,
on the part of any Finance Party, any right or remedy under a Finance Document shall operate as a waiver of any such right or remedy or constitute an election to affirm any of the Finance Documents. No election to affirm any Finance Document on the
part of any Finance Party shall be effective unless it is in writing. No single or partial exercise of any right or remedy shall prevent any further or other exercise or the exercise of any other right or remedy. The rights and remedies provided in
each Finance Document are cumulative and not exclusive of any rights or remedies provided by law. 
  

	43.	AMENDMENTS AND WAIVERS 

  

	43.1	Required consents 

  

	 	(a)	Subject to Clause 43.2 (All Lender matters) and Clause 43.4 (Other exceptions) any term of the Finance Documents may be amended or waived only with the consent of
the Majority Lenders and the Company and any such amendment or waiver will be binding on all Parties. 

  

	 	(b)	The Agent may effect, on behalf of any Finance Party, any amendment or waiver permitted by this Clause. 

  

	 	(c)	The Agent must promptly notify the other Parties of any amendment or waiver effected by it pursuant to paragraph (b) above. 

  

	 	(d)	Paragraph (c) of Clause 32.10 (Pro rata interest settlement) shall apply to this Clause 43. 

 

	43.2	All Lender matters 

  

	 	(a)	Subject to Clause 43.5 (Replacement of Screen Rate) an amendment or waiver of any term of any Finance Document that has the effect of changing or which relates to:

  

	 	(i)	the definition of “Majority Lenders” in Clause 1.1 (Definitions); 

  

	 	(ii)	an extension to the date of payment of any amount under the Finance Documents; 

  

	 	(iii)	a reduction in the Applicable Margin (other than in accordance with the definition thereof) or a reduction in the amount of any payment of principal, interest, fees or commission payable; 

 

	 	(iv)	a change in currency of payment of any amount under the Finance Documents; 

  

	 	(v)	an increase in any Commitment or an extension of the Availability Period or any requirement that a cancellation of Commitments reduces the Commitments of the Lenders rateably under the Facility, other than in accordance
with Clause 2.2 (Increase in Total Commitments); 

  
 - 154 - 

	 	(vi)	a change to the Borrowers or Guarantors other than in accordance with Clause 33 (Changes to the Obligors); 

  

	 	(vii)	any provision which expressly requires the consent of all the Lenders; 

  

	 	(viii)	Clause 2.4 (Finance Parties’ rights and obligations), Clause 5.1 (Delivery of a Utilisation
Request), Clause 9.1 (Delivery of a Utilisation Request for Dollar Swingline Loans), Clause 12.1 (Delivery
of a Utilisation Request for Euro Swingline Loans), Clause 16.1 (Illegality), Clause 16.2 (Change of
control), Clause 16.7 (Application of prepayments), Clause 27.17 (Sanctions and anti-corruption), Clause 30.12 (Sanctions and
anti-corruption), Clause 32 (Changes to the Lenders), Clause 33 (Changes to the Obligors), Clause 36 (Sharing among
the Finance Parties), this Clause 43, Clause 48 (Governing Law) or Clause 49 (Enforcement); or 

  

	 	(ix)	the nature or scope of the guarantee and indemnity granted under Clause 26 (Guarantee and Indemnity); 

shall not be made without the prior consent of all the Lenders. 
  

	43.3	Excluded Commitments 

 If any Lender notifies the Agent that as a result of
the operation of Clause 27.17 (Sanctions and anti-corruption) or Clause 30.12 (Sanctions and anti-corruption) it has no voting rights in relation to a specific vote of Lenders under the terms of this Agreement: 

 

	 	(a)	its Commitment shall not be included for the purpose of calculating the Total Commitments when ascertaining whether any relevant percentage (including, for the avoidance of doubt, unanimity) of Total Commitments has
been obtained; and 

  

	 	(b)	its status as Lender shall be disregarded for the purpose of ascertaining whether the agreement of any specified group of Lenders has been obtained. 

 

	43.4	Other exceptions 

 An amendment or waiver which relates to the rights or obligations of
the Agent, a Swingline Agent, the Issuing Bank, the Arranger, the Coordinator or a Reference Bank (each in their capacity as such) may not be effected without the consent of the Agent, the relevant Swingline Agent, the Issuing Bank, the Arranger,
the Coordinator or that Reference Bank as the case may be. 
  

	43.5	Replacement of Screen Rate 

  

	 	(a)	Subject to Clause 43.4 (Other exceptions), any amendment or waiver which relates to: 

  

	 	(i)	providing for the use of a Replacement Benchmark; and 

  

	 	(ii)	

  
 - 155 - 

	 	(A)	aligning any provision of any Finance Document to the use of that Replacement Benchmark; 

  

	 	(B)	enabling that Replacement Benchmark to be used for the calculation of interest under this Agreement (including, without limitation, any consequential changes required to enable that Replacement Benchmark to be used for
the purposes of this Agreement); 

  

	 	(C)	implementing market conventions applicable to that Replacement Benchmark; 

  

	 	(D)	providing for appropriate fallback (and market disruption) provisions for that Replacement Benchmark; or 

  

	 	(E)	adjusting the pricing to reduce or eliminate, to the extent reasonably practicable, any transfer of economic value from one Party to another as a result of the application of that Replacement Benchmark (and if any
adjustment or method for calculating any adjustment has been formally designated, nominated or recommended by the Relevant Nominating Body, the adjustment shall be determined on the basis of that designation, nomination or recommendation),

 may be made with the consent of the Agent (acting on the instructions of the Majority Lenders) and the Company. 

 

	 	(b)	If any Lender fails to respond to a request for an amendment or waiver described in paragraph (a) above within 5 Business Days (or such longer time period in relation to any request which the Company and the Agent
may agree) of that request being made: 

  

	 	(i)	its Commitment(s) shall not be included for the purpose of calculating the Total Commitments under the relevant Facility when ascertaining whether any relevant percentage of Total Commitments has been obtained to
approve that request; and 

  

	 	(ii)	its status as a Lender shall be disregarded for the purpose of ascertaining whether the agreement of any specified group of Lenders has been obtained to approve that request. 

 

	44.	CONFIDENTIAL INFORMATION 

  

	44.1	Confidentiality 

 Each Finance Party agrees to keep all Confidential Information
confidential and not to disclose it to anyone, save to the extent permitted by Clause 44.2 (Disclosure of Confidential Information) and Clause 44.3 (Disclosure to numbering service providers), and to ensure that all Confidential
Information is protected with security measures and a degree of care that would apply to its own confidential information. 

  
 - 156 - 

	44.2	Disclosure of Confidential Information 

 Any Finance
Party may disclose: 
  

	 	(a)	to any of its Affiliates and Related Funds and any of its or their officers, directors, employees, professional advisers, auditors, partners, (in the case of any Finance Party incorporated in Singapore or lending out of
a Singapore branch only) third party service providers and Representatives such Confidential Information as that Finance Party shall consider appropriate if any person to whom the Confidential Information is to be given pursuant to this paragraph
(a) is informed in writing of its confidential nature and that some or all of such Confidential Information may be price-sensitive information except that there shall be no such requirement to so inform if the recipient is subject to
professional obligations to maintain the confidentiality of the information or is otherwise bound by requirements of confidentiality in relation to the Confidential Information; 

 

	 	(b)	to any person: 

  

	 	(i)	to (or through) whom it assigns or transfers (or may potentially assign or transfer) all or any of its rights and/or obligations under one or more Finance Documents or which succeeds (or which may potentially succeed)
it as Agent and, in each case, to any of that person’s Affiliates, Related Funds, Representatives and professional advisers; 

  

	 	(ii)	with (or through) whom it enters into (or may potentially enter into), whether directly or indirectly, any sub-participation in relation to, or any other transaction under which
payments are to be made or may be made by reference to, one or more Finance Documents and/or one or more Obligors and to any of that person’s Affiliates, Related Funds Representatives and professional advisers; 

 

	 	(iii)	appointed by any Finance Party or by a person to whom sub-paragraph (b)(i) or (ii) above applies to receive communications, notices, information or documents delivered pursuant to the Finance Documents on its
behalf (including, without limitation, any person appointed under paragraph (b) of Clause 34.16 (Relationship with the Lenders)); 

 

	 	(iv)	who invests in or otherwise finances (or may potentially invest in or otherwise finance), directly or indirectly, any transaction referred to in paragraph (b)(i) or (ii) above; 

 

	 	(v)	to whom information is required or requested to be disclosed by any court of competent jurisdiction or any governmental, banking, taxation or other regulatory authority or similar body, the rules of any relevant stock
exchange or pursuant to any applicable law or regulation; 

  

	 	(vi)	to whom or for whose benefit that Finance Party charges, assigns or otherwise creates Security (or may do so) pursuant to Clause 32.9 (Security over Lenders’ rights);

  
 - 157 - 

	 	(vii)	to whom information is required to be disclosed in connection with, and for the purposes of, any litigation, arbitration, administrative or other investigations, proceedings or disputes; 

 

	 	(viii)	who is a Party; or 

  

	 	(ix)	with the consent of the Company; 

 in each case, such Confidential Information as that Finance
Party shall consider appropriate if: 
  

	 	(A)	in relation to paragraphs (b)(i), (b)(ii) and (b)(iii) above, the person to whom the Confidential Information is to be given has entered into a Confidentiality Undertaking except that there shall be no requirement for a
Confidentiality Undertaking if the recipient is a professional adviser and is subject to professional obligations to maintain the confidentiality of the Confidential Information; 

 

	 	(B)	in relation to paragraph (b)(iv) above, the person to whom the Confidential Information is to be given has entered into a Confidentiality Undertaking or is otherwise bound by requirements of confidentiality in relation
to the Confidential Information they receive and is informed that some or all of such Confidential Information may be price-sensitive information; or 

  

	 	(C)	in relation to paragraphs (b)(v), (b)(vi) and (b)(vii) above, the person to whom the Confidential Information is to be given is informed of its confidential nature and that some or all of such Confidential Information
may be price-sensitive information except that there shall be no requirement to so inform if, in the opinion of that Finance Party, it is not practicable so to do in the circumstances; 

 

	 	(c)	to any person appointed by that Finance Party or by a person to whom paragraph (b)(i) or (b)(ii) above applies to provide administration or settlement services in respect of one or more of the Finance Documents
including without limitation, in relation to the trading of participations in respect of the Finance Documents, such Confidential Information as may be required to be disclosed to enable such service provider to provide any of the services referred
to in this paragraph (c) if the service provider to whom the Confidential Information is to be given has entered into a confidentiality agreement substantially in the form of the LMA Master Confidentiality Undertaking for Use With
Administration/Settlement Service Providers or such other form of confidentiality undertaking agreed between the Company and the relevant Finance Party; 

  

	 	(d)	to any rating agency (including its professional advisers) such Confidential Information as may be required to be disclosed to enable such rating agency to carry out its normal rating activities in relation to the
Finance Documents and/or the Obligors; and 

  
 - 158 - 

	 	(e)	(in the case of any Finance Party incorporated in Singapore or lending out of a Singapore branch only) any person who is a person, or who belongs to a class of persons, specified in the second column of the Third
Schedule to the Banking Act, Chapter 19 of Singapore (the “Banking Act”). 

  

	44.3	Disclosure to numbering service providers 

  

	 	(a)	Any Finance Party may disclose to any national or international numbering service provider appointed by that Finance Party to provide identification numbering services in respect of this Agreement, the Facilities and/or
one or more Obligors the following information: 

  

	 	(i)	names of Obligors; 

  

	 	(ii)	country of domicile of Obligors; 

  

	 	(iii)	place of incorporation of Obligors; 

  

	 	(iv)	date of this Agreement; 

  

	 	(v)	Clause 48 (Governing Law); 

  

	 	(vi)	the names of the Agent, the Arranger and the Coordinator; 

  

	 	(vii)	date of each amendment and restatement of this Agreement; 

  

	 	(viii)	amounts of, and names of, the Facilities; 

  

	 	(ix)	amount of Total Commitments; 

  

	 	(x)	currencies of the Facilities; 

  

	 	(xi)	type of Facilities; 

  

	 	(xii)	ranking of Facilities; 

  

	 	(xiii)	Termination Date for Facilities; 

  

	 	(xiv)	changes to any of the information previously supplied pursuant to paragraphs (i) to (xiii) above; and 

  

	 	(xv)	such other information agreed between such Finance Party and the Company, 

 to enable such
numbering service provider to provide its usual syndicated loan numbering identification services. 
  

	 	(b)	The Parties acknowledge and agree that each identification number assigned to this Agreement, the Facilities and/or one or more Obligors by a numbering service provider and the information associated with each such
number may be disclosed to users of its services in accordance with the standard terms and conditions of that numbering service provider. 

  
 - 159 - 

	 	(c)	Each Obligor represents that none of the information set out in paragraphs (a)(i) to (a)(xv) above is, nor will at any time be, unpublished price-sensitive information. 

 

	 	(d)	The Agent shall notify the Company and the other Finance Parties of: 

  

	 	(i)	the name of any numbering service provider appointed by the Agent in respect of this Agreement, the Facilities and/or one or more Obligors; and 

 

	 	(ii)	the number or, as the case may be, numbers assigned to this Agreement, the Facilities and/or one or more Obligors by such numbering service provider. 

Nothing in this Clause 44.3 is to be construed as constituting an agreement between any Obligor and any Finance Party for a higher degree of
confidentiality than that prescribed in Section 47 of, and in the Third Schedule to, the Banking Act. 
  

	44.4	Entire agreement 

 This Clause 44 constitutes the entire agreement between the Parties in
relation to the obligations of the Finance Parties under the Finance Documents regarding Confidential Information and supersedes any previous agreement, whether express or implied, regarding Confidential Information. 

 

	44.5	Inside information 

 Each of the Finance Parties acknowledges that some or all of
the Confidential Information is or may be price-sensitive information and that the use of such information may be regulated or prohibited by applicable legislation including securities law relating to insider dealing and market abuse and each of the
Finance Parties undertakes not to use any Confidential Information for any unlawful purpose. 
  

	44.6	Notification of disclosure 

 Each of the Finance Parties agrees (to the
extent permitted by law and regulation) to inform the Company: 
  

	 	(a)	of the circumstances of any disclosure of Confidential Information made pursuant to paragraph (b)(v) of Clause 44.2 (Disclosure of Confidential Information) except where
such disclosure is made to any of the persons referred to in that paragraph during the ordinary course of its supervisory or regulatory function; and 

  

	 	(b)	upon becoming aware that Confidential Information has been disclosed in breach of this Clause 44. 

  
 - 160 - 

	44.7	Continuing obligations 

 The obligations in this Clause 44 are continuing
and, in particular, shall survive and remain binding on each Finance Party for a period of twelve months from the earlier of: 
  

	 	(a)	the date on which all amounts payable by the Obligors under or in connection with this Agreement have been paid in full and all Commitments have been cancelled or otherwise cease to be available; and 

 

	 	(b)	the date on which such Finance Party otherwise ceases to be a Finance Party. 

  

	45.	CONFIDENTIALITY OF FUNDING RATES AND REFERENCE BANK QUOTATIONS 

 

	45.1	Confidentiality and disclosure 

  

	 	(a)	The Agent, each Swingline Agent and each Obligor agree to keep each Funding Rate (and, in the case of the Agent and each Swingline Agent, each Reference Bank Quotation) confidential and not to disclose it to anyone,
save to the extent permitted by paragraphs (b), (c) and (d) below. 

  

	 	(b)	The Agent and each Swingline Agent may disclose: 

  

	 	(i)	any Funding Rate (but not, for the avoidance of doubt, any Reference Bank Quotation) to the relevant Borrower pursuant to Clause 10.4 (Interest), 13.4 (Interest) or 17.4 (Notification
of rates of interest) (as applicable); and 

  

	 	(ii)	any Funding Rate or any Reference Bank Quotation to any person appointed by it to provide administration services in respect of one or more of the Finance Documents to the extent necessary to enable such service
provider to provide those services if the service provider to whom that information is to be given has entered into a confidentiality agreement substantially in the form of the LMA Master Confidentiality Undertaking for Use With
Administration/Settlement Service Providers or such other form of confidentiality undertaking agreed between the Agent or the relevant Swingline Agent and the relevant Lender or Reference Bank, as the case may be. 

 

	 	(c)	The Agent and each Swingline Agent may disclose any Funding Rate or any Reference Bank Quotation, and each Obligor may disclose any Funding Rate, to: 

 

	 	(i)	any of its Affiliates and any of its or their officers, directors, employees, professional advisers, auditors, partners and Representatives if any person to whom that Funding Rate or Reference Bank Quotation is to be
given pursuant to this paragraph (i) is informed in writing of its confidential nature and that it may be price-sensitive information except that there shall be no such requirement to so inform if the recipient is subject to professional
obligations to maintain the confidentiality of that Funding Rate or Reference Bank Quotation or is otherwise bound by requirements of confidentiality in relation to it; 

  
 - 161 - 

	 	(ii)	any person to whom information is required or requested to be disclosed by any court of competent jurisdiction or any governmental, banking, taxation or other regulatory authority or similar body, the rules of any
relevant stock exchange or pursuant to any applicable law or regulation if the person to whom that Funding Rate or Reference Bank Quotation is to be given is informed in writing of its confidential nature and that it may be price-sensitive
information except that there shall be no requirement to so inform if, in the opinion of the Agent, the relevant Swingline Agent or the relevant Obligor, as the case may be, it is not practicable to do so in the circumstances; 

 

	 	(iii)	any person to whom information is required to be disclosed in connection with, and for the purposes of, any litigation, arbitration, administrative or other investigations, proceedings or disputes if the person to whom
that Funding Rate or Reference Bank Quotation is to be given is informed in writing of its confidential nature and that it may be price-sensitive information except that there shall be no requirement to so inform if, in the opinion of the Agent, the
relevant Swingline Agent or the relevant Obligor , as the case may be, it is not practicable to do so in the circumstances; and 

  

	 	(iv)	any person with the consent of the relevant Lender or Reference Bank, as the case may be. 

  

	 	(d)	The Agent’s obligations in this Clause 45 relating to Reference Bank Quotations are without prejudice to its obligations to make notifications under Clause 17.4 (Notification of
rates of interest) provided that (other than pursuant to paragraph (b)(i) above) the Agent or the relevant Swingline Agent shall not include the details of any individual Reference
Bank Quotation as part of any such notification. 

  

	45.2	Related obligations 

  

	 	(a)	The Agent, each Swingline Agent and each Obligor acknowledge that each Funding Rate (and, in the case of the Agent and each Swingline Agent, each Reference Bank Quotation) is or may be price-sensitive information and
that its use may be regulated or prohibited by applicable legislation including securities law relating to insider dealing and market abuse and the Agent, each Swingline Agent and each Obligor undertake not to use any Funding Rate or, in the case of
the Agent and each Swingline Agent, any Reference Bank Quotation for any unlawful purpose. 

  

	 	(b)	The Agent, each Swingline Agent and each Obligor agree (to the extent permitted by law and regulation) to inform the relevant Lender or Reference Bank, as the case may be: 

  
 - 162 - 

	 	(i)	of the circumstances of any disclosure made pursuant to paragraph (c)(ii) of Clause 45.1 (Confidentiality and disclosure) except where such disclosure is made to any of the persons
referred to in that paragraph during the ordinary course of its supervisory or regulatory function; and 

  

	 	(ii)	upon becoming aware that any information has been disclosed in breach of this Clause 45. 

  

	45.3	No Event of Default 

 No Event of Default will occur
under Clause 31.3 (Other obligations) by reason only of an Obligor’s failure to comply with this Clause 45. 
  

	45.4	Personal Data Protection Act 2012, Singapore 

  

	 	(a)	If any Obligor provides the Finance Parties with personal data of any individual as required by, pursuant to, or in connection with the Finance Documents, that Obligor represents and warrants to the Finance Parties that
it has, to the extent required by law, (i) notified the relevant individual of the purposes for which data will be collected, processed, used or disclosed; and (ii) obtained such individual’s consent for, and hereby consents on behalf
of such individual to, the collection, processing, use and disclosure of his/her personal data by the Finance Parties, in each case, in accordance with or for the purposes of the Finance Documents, and confirms that it is authorised by such
individual to provide such consent on his/her behalf. 

  

	 	(b)	Each Obligor agrees and undertakes to notify the Agent promptly upon its becoming aware of the withdrawal by the relevant individual of his/her consent to the collection, processing, use and/or disclosure by any Finance
Party of any personal data provided by that Obligor to any Finance Party. 

  

	 	(c)	Any consent given pursuant to this Agreement in relation to personal data shall, subject to all applicable laws and regulations, survive death, incapacity, bankruptcy or insolvency of any such individual and the
termination or expiration of this Agreement. 

  

	46.	COUNTERPARTS 

 Each Finance Document may be executed in any number of counterparts, and
this has the same effect as if the signatures on the counterparts were on a single copy of the Finance Document. 
  

	47.	USA PATRIOT ACT 

 Each Lender that is subject to the USA PATRIOT Act hereby
notifies each Obligor that pursuant to the requirements of the USA PATRIOT Act, such Lender is required to obtain, verify and record information that identifies such Obligor, which information includes the name and address of such Obligor and other
information that will allow such Lender to identify such Obligor in accordance with the USA Patriot Act. 

  
 - 163 - 

 SECTION 12 

GOVERNING LAW AND ENFORCEMENT 
  

	48.	GOVERNING LAW 

 This Agreement and any
non-contractual obligations arising out of or in connection with it are governed by English law. 
  

	49.	ENFORCEMENT 

  

	49.1	Jurisdiction 

  

	 	(a)	The courts of England and Wales have exclusive jurisdiction to settle any dispute arising out of or in connection with this Agreement (including a dispute relating to the existence, validity or termination of this
Agreement or the consequences of its nullity or any non-contractual obligations arising out of or in connection with this Agreement) (a “Dispute”). 

 

	 	(b)	The Parties agree that the courts of England and Wales are the most appropriate and convenient courts to settle Disputes and accordingly no Party will argue to the contrary. 

 

	 	(c)	This Clause 49.1 is for the benefit of the Finance Parties only. As a result, and notwithstanding paragraph (a) above, any Finance Party may take proceedings relating to a Dispute in any other courts with
jurisdiction. To the extent allowed by law, the Finance Parties may take concurrent proceedings in any number of jurisdictions. 

  

	49.2	Service of process 

 Without prejudice to any other mode of service
allowed under any relevant law, each Obligor: 
  

	 	(a)	irrevocably appoints WABCO Automotive U.K. Limited (attention: Derek Colquhoun and David Rickell) of Unit A1 Grange Valley, Grange Valley Road, Batley, West Yorkshire WF17 6GH, England as its agent for service of
process in relation to any proceedings before the English courts in connection with any Finance Document; and 

  

	 	(b)	agrees that failure by an agent for service of process to notify the relevant Obligor of the process will not invalidate the proceedings concerned. 

 

	49.3	Waiver of jury trial 

  

	 	(a)	Each of the Parties to this Agreement agrees to waive irrevocably its rights to a jury trial of any claim based upon or arising out of this Agreement or any of the documents referred to in this Agreement or any
transaction contemplated in this Agreement. This waiver is intended to apply to all Disputes. Each Party acknowledges that: 

  

	 	(i)	this waiver is a material inducement to enter into this Agreement; 

  
 - 164 - 

	 	(ii)	it has already relied on this waiver in entering into this Agreement; and 

  

	 	(iii)	it will continue to rely on this waiver in future dealings. 

  

	 	(b)	Each Party represents that it has reviewed this waiver with its legal advisers and that it knowingly and voluntarily waives its jury trial rights after consultation with its legal advisers. In the event of litigation,
this Agreement may be filed as a written consent to a trial by the court. 

 This Agreement has been entered into on the date stated at the
beginning of this Agreement. 

  
 - 165 - 

 SCHEDULE 1 

THE ORIGINAL PARTIES 

PART I 
 THE ORIGINAL
OBLIGORS 
  

			
	Name of Original Borrowers	  	Registration number (or equivalent, if any)
		
	WABCO Holdings Inc.	  	4283982 (Record No. with the Delaware Secretary of State)
		
	WABCO Europe BVBA	  	0475.956.135
		
	WABCO Financial Services Sprl	  	0881.425.934
		
	WABCO Asia Private Ltd.	  	200607693H
		
	WABCO Hong Kong Limited	  	1143938
		
	Name of Original Guarantor	  	Registration number (or equivalent, if any)
		
	WABCO Holdings Inc.	  	4283982 (Record No. with the Delaware Secretary of State)

 PART II 

THE ORIGINAL LENDERS 
  

					
	Name of Original Lender	  	Commitment (USD)	 
	 Bank of America Merrill Lynch International Limited
	  	 	85,714,285.72	 
	 BNP Paribas Fortis SA/NV
	  	 	85,714,285.72	 
	 Citibank, N.A., London Branch
	  	 	85,714,285.72	 
	 HSBC Bank plc, Brussels Branch
	  	 	85,714,285.71	 
	 ING Belgium SA/NV
	  	 	85,714,285.71	 
	 MUFG Bank, Ltd. (formerly known as The Bank of Tokyo- Mitsubishi UFJ, Ltd.)
	  	 	85,714,285.71	 
	 UniCredit Bank AG
	  	 	85,714,285.71	 
	 TOTAL:
	  	 	USD600,000,000	 

  
 - 166 - 

 SCHEDULE 2 

CONDITIONS PRECEDENT 

PART I 
 CONDITIONS
PRECEDENT TO INITIAL UTILISATION 
  

	1.	Original Obligors 

  

	 	(a)	A copy of the constitutional documents of each Original Obligor. 

  

	 	(b)	A copy of a resolution of the board of directors of each Original Obligor: 

  

	 	(i)	approving the terms of, and the transactions contemplated by, the Finance Documents to which it is a party and resolving that it execute the Finance Documents to which it is a party; 

 

	 	(ii)	in the case of each Belgian Obligor, setting out the reasons why the board of directors of that Obligor considered that the entry into this Agreement is of benefit to that Obligor; 

 

	 	(iii)	authorising a specified person or persons to execute the Finance Documents to which it is a party on its behalf; and 

  

	 	(iv)	authorising a specified person or persons, on its behalf, to sign and/or despatch all documents and notices (including, if relevant, any Utilisation Request) to be signed and/or despatched by it under or in connection
with the Finance Documents to which it is a party. 

  

	 	(c)	A specimen of the signature of each person authorised by the resolution referred to in paragraph (b) above. 

  

	 	(d)	A certificate of each Original Obligor (signed by a director or by a Financial Officer of the relevant Obligor duly authorised by the board of directors) confirming that borrowing or guaranteeing, as appropriate, the
Total Commitments (including any permitted increase in the Total Commitments pursuant to Clause 2.2 (Increase in Total Commitments) would not cause any borrowing, guaranteeing or similar limit binding
on it to be exceeded. 

  

	 	(e)	A certificate of an authorised signatory of each Original Obligor (signed by a director or by a Financial Officer of the relevant Obligor duly authorised by the board of directors) certifying that each copy document
relating to it specified in this Part I of this Schedule 2 is correct, complete and in full force and effect as at a date no earlier than the date of this Agreement. 

 

	2.	Legal opinions 

  

	 	(a)	A legal opinion of Clifford Chance LLP, legal advisers to the Arranger and the Agent in England, substantially in the form distributed to the Original Lenders prior to signing this Agreement. 

 

	 	(b)	If an Original Obligor is incorporated in a jurisdiction other than England and Wales, a legal opinion of the legal advisers to the Arranger and the Agent in the relevant jurisdiction, substantially in the form
distributed to the Original Lenders prior to signing this Agreement. 

  
 - 167 - 

	3.	Other documents and evidence 

  

	 	(a)	Evidence that any agent for service of process referred to in Clause 49.2 (Service of process), if not an Original Obligor, has accepted its appointment. 

 

	 	(b)	A copy of any other Authorisation or other document, opinion or assurance which the Agent considers to be necessary or desirable (if it has notified the Company accordingly) in connection with the entry into and
performance of the transactions contemplated by any Finance Document or for the validity and enforceability of any Finance Document. 

  

	 	(c)	Subject to Clause 4.1 (Initial conditions precedent), the Original Financial Statements of each Original Obligor. 

 

	 	(d)	Evidence that the fees, costs and expenses then due from the Company pursuant to Clause 20 (Fees) and Clause 25 (Costs and expenses) have been paid or will be paid by the first
Utilisation Date. 

  

	 	(e)	Evidence satisfactory to the Agent that all amounts under the five year credit agreement dated as of 31 May 2007 between, amongst others, the Company, JP Morgan Securities, Inc. and ABN AMRO Bank Inc. as lead arrangers
and joint bookrunners (other than amounts outstanding under the existing letters of credit) have been repaid or prepaid in full (or will be prepaid in full simultaneously with the proceeds of the first Utilisation hereunder) and that all facilities
thereunder (other than the existing letters of credit) have been cancelled (or will be cancelled simultaneously with the first Utilisation hereunder). 

  

	 	(f)	A copy of a good standing certificate with respect to each U.S. Obligor, issued as of a recent date satisfactory to the Agent by the Secretary of State or other appropriate official of each U.S. Obligor’s
jurisdiction of incorporation or organisation. 

  

	 	(g)	A certificate in form and substance satisfactory to the Agent of the chief financial officer or director of finance of each U.S. Obligor as to the solvency of such U.S. Obligor. 

  
 - 168 - 

 PART II 

CONDITIONS PRECEDENT REQUIRED TO BE 

DELIVERED BY AN ADDITIONAL OBLIGOR 
  

	1.	An Accession Letter, duly executed by the Additional Obligor and the Company. 

  

	2.	A copy of the constitutional documents of the Additional Obligor. 

  

	3.	A copy of a good standing certificate with respect to each Additional Obligor whose jurisdiction of organization is a state of the U.S. or the District of Columbia, issued as of a recent date by the Secretary of State
or other appropriate official of such Additional Obligor’s jurisdiction of incorporation or organisation. 

  

	4.	A copy of a resolution of the board of directors (or its equivalent in the relevant jurisdiction) of the Additional Obligor: 

  

	 	(a)	approving the terms of, and the transactions contemplated by, the Accession Letter and the Finance Documents and resolving that it execute the Accession Letter; 

 

	 	(b)	in the case of a Belgian Additional Guarantor, setting out the reasons why the board of directors or managers of that Additional Guarantor considered that the entry into this Agreement, and in particular the assumption
of its guarantee obligations in accordance with Clause 26 (Guarantee and Indemnity) is of benefit to that Additional Guarantor. 

 

	 	(c)	authorising a specified person or persons to execute the Accession Letter on its behalf; and 

  

	 	(d)	authorising a specified person or persons, on its behalf, to sign and/or despatch all other documents and notices (including, in relation to an Additional Borrower, any Utilisation Request) to be signed and/or
despatched by it under or in connection with the Finance Documents. 

  

	5.	A specimen of the signature of each person authorised by the resolution referred to in paragraph 4 above. 

  

	6.	If applicable in its jurisdiction of incorporation, a copy of a resolution signed by all the holders of the issued shares of the Additional Guarantor, approving the terms of, and the transactions contemplated by, the
Finance Documents to which the Additional Guarantor is a party. 

  

	7.	In the case of a Belgian Additional Obligor which is a naamloze vennootschap, a copy of a relation of the shareholders meeting, or of a written resolution of all shareholders of such Belgian
Additional Obligor approving Clauses 16.2 (Change of control) and 30.5 (Merger) together with evidence that an extract of such resolution has been filed with the clerk of the corporate commercial court in
accordance with Article 556 of the Belgian Company Code. 

  

	8.	A certificate of the Additional Obligor (signed by a director) confirming that borrowing or guaranteeing, as appropriate, the Total Commitments would not cause any borrowing, guaranteeing or similar limit binding on it
to be exceeded. 

  
 - 169 - 

	9.	A certificate of an authorised signatory of the Additional Obligor certifying that each copy document listed in this Part II of Schedule 2 is correct, complete and in full force and effect as at a date no earlier than
the date of the Accession Letter. 

  

	10.	A copy of any other Authorisation or other document, opinion or assurance which the Agent, acting reasonably, considers to be necessary or desirable in connection with the entry into and performance of the transactions
contemplated by the Accession Letter or for the validity and enforceability of any Finance Document. 

  

	11.	If available, the latest audited financial statements of the Additional Obligor. 

  

	12.	A legal opinion of Clifford Chance LLP, legal advisers to the Arranger and the Agent in England. 

  

	13.	If the Additional Obligor is incorporated in a jurisdiction other than England and Wales, a legal opinion of the legal advisers to the Arranger and the Agent in the jurisdiction in which the Additional Obligor is
incorporated. 

  

	14.	If the proposed Additional Obligor is incorporated in a jurisdiction other than England and Wales, evidence that the agent for service of process specified in Clause 49.2 (Service of
process), if not an Obligor, has accepted its appointment in relation to the proposed Additional Obligor. 

  

	15.	A certificate in form and substance satisfactory to the Agent of the director of finance or other appropriate person of each Additional Obligor as to the solvency of such Additional Obligor. 

  
 - 170 - 

 SCHEDULE 3 

REQUESTS 
 PART I

 UTILISATION REQUEST - REVOLVING FACILITY LOANS 
  

	From:	[name of relevant Borrower] 

  

	To:	[Agent] 

 Dated: 

Dear Sirs 
 WABCO HOLDINGS INC. USD600,000,000
Revolving Facility Agreement 
 dated 8 July 2011 (as amended from time to time) (the “Agreement”) 

 

	1.	We refer to the Agreement. This is a Utilisation Request. Terms defined in the Agreement have the same meaning in this Utilisation Request unless given a different meaning in this Utilisation Request. 

 

	2.	We wish to borrow a Revolving Facility Loan on the following terms: 

  

			
	Proposed Utilisation Date:	  	[•] (or, if that is not a Business Day, the next Business Day)
		
	Currency of Revolving Facility Loan:	  	[•]
		
	Amount:	  	[•] or, if less, the Available Facility
		
	Interest Period:	  	[•]

  

	3.	We confirm that each condition specified in Clause 4.2 (Further conditions precedent) of the Agreement is satisfied on the date of this Utilisation Request. 

 

	4.	The proceeds of this Revolving Facility Loan should be credited to [account]. 

  

	5.	This Utilisation Request is irrevocable. 

 Yours faithfully 

authorised signatory for 
 [name
of relevant Borrower] 

  
 - 171 - 

 PART II 

UTILISATION REQUEST - DOLLAR SWINGLINE LOANS 
  

	From:	[name of relevant Borrower] 

  

	To:	[Dollar Swingline Agent] 

  

	CC:	[Dollar Swingline Lender] [Agent] 

 Dated: 

Dear Sirs 
 WABCO HOLDINGS INC. USD600,000,000
Revolving Facility Agreement 
 dated 8 July 2011 (as amended from time to time) (the “Agreement”) 

 

	1.	We refer to the Agreement. This is a Utilisation Request. Terms defined in the Agreement have the same meaning in this Utilisation Request unless given a different meaning in this Utilisation Request. 

 

	2.	We wish to borrow a Dollar Swingline Loan on the following terms: 

  

			
		
	Proposed Utilisation Date:	  	[•] (or, if that is not a New York Business Day, the next New York Business Day)
		
	Facility to be utilised:	  	Dollar Swingline Facility
		
	Amount:	  	USD [•] or, if less, the Available Dollar Swingline Facility
		
	Interest Period:	  	[•]

  

	3.	We confirm that each condition specified in paragraph (b) of Clause 9.3 (Dollar Swingline Loan conditions) of the Agreement is satisfied on the date of this Utilisation Request. 

 

	4.	The proceeds of this Dollar Swingline Loan should be credited to [account]. 

  

	5.	This Utilisation Request is irrevocable. 

 Yours faithfully 

authorised signatory for 
 [name
of relevant Borrower] 

  
 - 172 - 

 PART III 

UTILISATION REQUEST - EURO SWINGLINE LOANS 
  

	From:	[name of relevant Borrower] 

  

	To:	[Euro Swingline Agent] 

  

	CC:	[Euro Swingline Lender] [Agent] 

  

	Dated:	

 Dear Sirs 

WABCO HOLDINGS INC. USD600,000,000 Revolving Facility Agreement 

dated 8 July 2011 (as amended from time to time) (the “Agreement”) 

 

	1.	We refer to the Agreement. This is a Utilisation Request. Terms defined in the Agreement have the same meaning in this Utilisation Request unless given a different meaning in this Utilisation Request. 

 

	2.	We wish to borrow a Euro Swingline Loan on the following terms: 

  

			
		
	Proposed Utilisation Date:	  	[•] (or, if that is not a TARGET Day, the next TARGET Day)
		
	Facility to be utilised:	  	Euro Swingline Facility
		
	Amount:	  	Euro[•] or, if less, the Available Euro Swingline Facility
		
	Interest Period:	  	[•]

  

	3.	We confirm that each condition specified in paragraph (b) of Clause 12.3 (Euro Swingline Loan conditions) of the Agreement is satisfied on the date of this Utilisation Request. 

 

	4.	The proceeds of this Euro Swingline Loan should be credited to [account]. 

  

	5.	This Utilisation Request is irrevocable. 

 Yours faithfully 

authorised signatory for 
 [name
of relevant Borrower] 

  
 - 173 - 

 PART IV 

UTILISATION REQUEST - LETTERS OF CREDIT 
  

	From:	[Borrower] 

  

	To:	[Agent] 

  

	CC:	[Issuing Bank] 

 Dated: 

Dear Sirs 
 WABCO Holdings Inc. –
USD600,000,000 Revolving Facility Agreement 
 dated 8 July 2011 (as amended from time to time) (the “Agreement”)

  

	1.	We wish to arrange for a [renewal of a] [Letter of Credit] to be issued by the Issuing Bank on the following terms: 

 

			
	Proposed Utilisation Date	  	[•] (or, if that is not a Business Day, the next Business Day)
		
	Currency of Letter of Credit	  	[•]
		
	Amount:	  	[•] or, if less, the Available Facility
		
	[Ultimate] Beneficiary:	  	[•]
		
	[Correspondent Bank]:	  	[•]
		
	Term or Expiry Date:	  	[•]
		
	Description of underlying transaction:	  	[•]

  

	2.	[This is a Renewal Request]. 

  

	3.	We confirm that each condition specified in paragraph (b) of Clause 6.6 (Issue of Letters of Credit) of the Agreement is satisfied on the date of this Utilisation
Request. 

  

	4.	We attach a copy of the proposed Letter of Credit. 

  

	5.	This Utilisation Request is irrevocable. Delivery Instructions: 

 [specify delivery
instructions] 
 Yours faithfully 
  

 
 Authorised
signatory for 
 [name of relevant Borrower] 

  
 - 174 - 

 SCHEDULE 4 

FORM OF TRANSFER CERTIFICATE 
  

	To:	[•] as Agent 

  

	From:	[The Existing Lender] (the “Existing Lender”) and [The New Lender] (the “New Lender”) 

Dated: 
 WABCO HOLDINGS INC. –
USD600,000,000 Revolving Facility Agreement 
 dated 8 July 2011 (as amended from time to time) (the “Agreement”)

  

	1.	We refer to the Agreement. This is a Transfer Certificate. Terms defined in the Agreement have the same meaning in this Transfer Certificate unless given a different meaning in this Transfer Certificate.

  

	2.	We refer to Clause 32.5 (Procedure for transfer) of the Agreement: 

  

	 	(a)	The Existing Lender and the New Lender agree to the Existing Lender transferring to the New Lender by novation, and in accordance with Clause 32.5 (Procedure for transfer) of the
Agreement, all of the Existing Lender’s rights and obligations under the Agreement and other Finance Documents which relate to that portion of the Existing Lender’s Commitment and participations in Loans under the Agreement as specified in
the Schedule. 

  

	 	(b)	The proposed Transfer Date is [•]. 

  

	 	(c)	The Facility Office and address, fax number and attention details for notices of the New Lender for the purposes of Clause 39.2 (Addresses) of the Agreement are set out in the Schedule. 

 

	3.	The New Lender expressly acknowledges the limitations on the Existing Lender’s obligations set out in paragraph (c) of Clause 32.4 (Limitation of responsibility
of Existing Lenders) of the Agreement. 

  

	4.	The benefit of each security document granted in favour of the Existing Lender under or in connection with the Finance Documents shall be maintained in favour of the New Lender, without prejudice to paragraph
(a) of Clause 32.4 (Limitation of responsibility of Existing Lenders) of the Agreement. 

  

	5.	This Transfer Certificate may be executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were on a single copy of this Transfer Certificate. 

 

	6.	This Transfer Certificate and any non-contractual obligations arising out of or in connection with it are governed by English law. 

 

	7.	This Transfer Certificate has been entered into on the date stated at the beginning of this Transfer Certificate. 

  
 - 175 - 

 THE SCHEDULE 

Commitment/rights and obligations to be transferred 

[insert relevant details] 

[Facility Office address, fax number and attention details for notices and account details for 

payments,] 
  

			
	[Existing Lender]	  	[New Lender]
		
	By:	  	By:
	
	This Transfer Certificate is accepted by the Agent and the Transfer Date is confirmed as [•].
	
	[Agent]
	
	By:

  
 - 176 - 

 SCHEDULE 5 

FORM OF ASSIGNMENT AGREEMENT 
  

	To:	Citibank Europe plc, UK Branch (previously known as Citibank International Limited) as Agent and WABCO Holdings, Inc. as Company, for and on behalf of each Obligor 

 

	From:	[the Existing Lender] (the “Existing Lender”) and [the New Lender] (the “New Lender”) 

Dated: 
 WABCO HOLDINGS INC. –
USD600,000,000 Revolving Facility Agreement 
 dated 8 July 2011 (as amended from time to time) (the “Agreement”)

  

	1.	We refer to the Agreement. This is an Assignment Agreement. Terms defined in the Agreement have the same meaning in this Assignment Agreement unless given a different meaning in this Assignment Agreement.

  

	2.	We refer to Clause 32.6 (Procedure for assignment) of the Agreement: 

  

	 	(a)	The Existing Lender assigns absolutely to the New Lender all the rights of the Existing Lender under the Agreement and the other Finance Documents which relate to that portion of the Existing Lender’s Commitments
and participations in Loans under the Agreement as specified in the Schedule. 

  

	 	(b)	The Existing Lender is released from all the obligations of the Existing Lender which correspond to that portion of the Existing Lender’s Commitments and participations in Loans under the Agreement specified in the
Schedule. 

  

	 	(c)	The New Lender becomes a Party as a Lender and is bound by obligations equivalent to those from which the Existing Lender is released under paragraph (b) above. 

 

	3.	The proposed Transfer Date is [•]. 

  

	4.	On the Transfer Date the New Lender becomes Party to the Finance Documents as a Lender. 

  

	5.	The Facility Office and address, fax number and attention details for notices of the New Lender for the purposes of Clause 39.2 (Addresses) of the Agreement are set out in the Schedule. 

 

	6.	The New Lender expressly acknowledges the limitations on the Existing Lender’s obligations set out in paragraph (c) of Clause 32.4 (Limitation of responsibility
of Existing Lenders) of the Agreement. 

  

	7.	This Assignment Agreement acts as notice to the Agent (on behalf of each Finance Party) and, upon delivery in accordance with Clause 32.8 (Copy documents to Company) of
the Agreement, to the Company (on behalf of each Obligor) of the assignment referred to in this Assignment Agreement. 

  
 - 177 - 

	8.	In the absence of express provision, security passes together with an assignment (Art. 1692 of the Belgian Civil Code), but not together with a novation (Art. 1278 of the Belgian Civil Code). 

 

	9.	This Assignment Agreement may be executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were on a single copy of this Assignment Agreement. 

 

	10.	This Assignment Agreement and any non-contractual obligations arising out of or in connection with it are governed by English law. 

 

	11.	This Assignment Agreement has been entered into on the date stated at the beginning of this Assignment Agreement. 

  
 - 178 - 

 THE SCHEDULE 

Rights to be assigned and obligations to be released and undertaken 

[insert relevant details] 

[Facility Office address, fax number and attention details for notices and account details for payments] 

 

			
	[Existing Lender]	  	[New Lender]
		
	By:	  	By:

 This Assignment Agreement is accepted by the Agent and the Transfer Date is confirmed as [•]. 

Signature of this Assignment Agreement by the Agent constitutes confirmation by the Agent of receipt of notice of the assignment referred to herein, which
notice the Agent receives on behalf of each Finance Party. 
 [Agent] 

By: 

  
 - 179 - 

 SCHEDULE 6 

FORM OF ACCESSION LETTER 
  

	To:	Citibank Europe plc, UK Branch (previously known as Citibank International Limited) as Agent 

  

	From:	[Subsidiary] and WABCO HOLDINGS INC. 

 Dated: 

Dear Sirs 
 WABCO HOLDINGS INC. –
USD600,000,000 Revolving Facility Agreement 
 dated 8 July 2011 (as amended from time to time) (the “Agreement”)

  

	1.	We refer to the Agreement. This is an Accession Letter. Terms defined in the Agreement have the same meaning in this Accession Letter unless given a different meaning in this Accession Letter. 

 

	2.	[Subsidiary] agrees to become an Additional [Borrower]/[Guarantor] and to be bound by the terms of the Agreement as an Additional [Borrower]/[Guarantor] pursuant to Clause [33.2 (Additional
Borrowers)]/[Clause 33.4 (Additional Guarantors)] of the Agreement. [Subsidiary] is a company duly incorporated under the laws of [name of relevant jurisdiction].

  

	3.	[Subsidiary’s] administrative details are as follows: 

 Address: 

Fax No: 
 Attention: 

 

	4.	This Accession Letter and any non-contractual obligations arising out of or in connection with it are governed by English law. 

This Accession Letter is entered into by deed. 
  

			
	WABCO HOLDINGS INC.	  	[Subsidiary]
		
	By:	  	By:

  
 - 180 - 

 SCHEDULE 7 

FORM OF RESIGNATION LETTER 
  

	To:	Citibank Europe plc, UK Branch (previously known as Citibank International Limited) as Agent 

  

	From:	[resigning Obligor] and WABCO HOLDINGS INC. 

  

	Dated:	

 Dear Sirs 

WABCO HOLDINGS INC. – USD600,000,000 Revolving Facility Agreement 

dated 8 July 2011 (as amended from time to time) (the “Agreement”) 

 

	1.	We refer to the Agreement. This is a Resignation Letter. Terms defined in the Agreement have the same meaning in this Resignation Letter unless given a different meaning in this Resignation Letter. 

 

	2.	Pursuant to [Clause 33.3 (Resignation of a Borrower)]/[Clause 33.6 (Resignation of a Guarantor)] of the Agreement, we
request that [resigning Obligor] be released from its obligations as a [Borrower]/[Guarantor] under the Agreement. 

  

	3.	We confirm that no Default is continuing or would result from the acceptance of this request. 

  

	4.	This Resignation Letter and any non-contractual obligations arising out of or in connection with it are governed by English law. 

 

			
	WABCO HOLDINGS INC.	  	[Subsidiary]
		
	By:	  	By:

  
 - 181 - 

 SCHEDULE 8 

FORM OF COMPLIANCE CERTIFICATE 
  

	To:	Citibank Europe plc, UK Branch (previously known as Citibank International Limited) as Agent 

  

	From:	WABCO HOLDINGS INC. 

 Dated: 

Dear Sirs 
 WABCO HOLDINGS INC. –
USD600,000,000 Revolving Facility Agreement 
 dated 8 July 2011 (as amended from time to time) (the “ Agreement”)

  

	1.	We refer to the Agreement. This is a Compliance Certificate. Terms defined in the Agreement have the same meaning when used in this Compliance Certificate unless given a different meaning in this Compliance Certificate.

  

	2.	We confirm that as at [relevant test date]: 

  

	 	(a)	Consolidated Net Indebtedness of the Company was [x] and the Consolidated EBITDA of the Company was [x]; the ratio of Consolidated Net Indebtedness to Consolidated EBITDA was therefore [x:x];
and 

  

	 	(b)	the Subsidiaries of the Company had USD[x] of outstanding Indebtedness in aggregate, representing [•]% of Consolidated Total Assets of the Company as at [insert most
recently ended financial year end date], of which the total principal amount secured was USD[x]. 

 

	3.	We set out below calculations establishing the figures in paragraph 2 above: [•] 

  

	4.	[We confirm that no Default is continuing.] 

 Signed: 

Financial Officer of 
 Company

 [insert applicable certification language] 
  

			
	  

for and on behalf of

[name of auditors of the Company]
	  	

  

  
 - 182 - 

 NOTES: 
  

	*	If this statement cannot be made, the certificate should identify any Default that is continuing and the steps, if any, being taken to remedy it. 

  
 - 183 - 

 SCHEDULE 9 

LMA FORM OF CONFIDENTIALITY UNDERTAKING 
  

	THIS	MASTER CONFIDENTIALITY UNDERTAKING is dated [•] and made between: 

  

	(1)	[•]; and 

  

	(2)	[•]. 

 Either party (in this capacity the “Purchaser”) may from time to time consider
acquiring an interest from the other party (in this capacity the “Seller”) in the Agreement which, subject to the Agreement, may be by way of novation, assignment, the entering into, whether directly or indirectly, of a sub-participation or any other transaction under which payments are to be made or may be made by reference to one or more relevant Finance Documents and/or one or more relevant Obligors or by way of investing in or
otherwise financing, directly or indirectly, any such novation, assignment, sub-participation or other transaction (each an “Acquisition”). In consideration of the Seller agreeing to make
available to the Purchaser certain information in relation to each Acquisition it is agreed as follows: 
  

	1.	CONFIDENTIALITY UNDERTAKING 

 The Purchaser undertakes in relation to each Acquisition made or
which may be made by it (a) to keep all Confidential Information which the Seller supplies to the Purchaser in relation to that Acquisition confidential and not to disclose it to anyone, save to the extent permitted by paragraph 2 below and to
ensure that all Confidential Information which the Seller supplies to the Purchaser in relation to that Acquisition is protected with security measures and a degree of care that would apply to the Purchaser’s own confidential information and
(b) until that Acquisition is completed, to use the Confidential Information which the Seller supplies to the Purchaser in relation to that Acquisition only for the Permitted Purpose. 

 

	2.	PERMITTED DISCLOSURE 

 The Purchaser may disclose in relation to each Acquisition made or which
may be made by it: 
  

	2.1	to any of its Affiliates and any of its or their officers, directors, employees, professional advisers and auditors such Confidential Information as the Purchaser shall consider appropriate if any person to whom such
Confidential Information is to be given pursuant to this paragraph 2.1 is informed in writing of its confidential nature and that some or all of such Confidential Information may be price-sensitive information except that there shall be no such
requirement to so inform if the recipient is subject to professional obligations to maintain the confidentiality of the information or is otherwise bound by requirements of confidentiality in relation to such Confidential Information;

  

	2.2	subject to the requirements of the relevant Agreement, to any person: 

  

	 	(a)	to (or through) whom the Purchaser assigns or transfers (or may potentially assign or transfer) all or any of its rights and/or obligations which it may acquire under that Agreement such Confidential Information which
the Seller 

  
 - 184 - 

 supplies to the Purchaser in relation to that Acquisition as the Purchaser shall consider
appropriate if the person to whom such Confidential Information is to be given pursuant to this paragraph (a) has delivered a letter to the Purchaser in equivalent form to this undertaking; 

 

	 	(b)	with (or through) whom the Purchaser enters into (or may potentially enter into) any sub-participation in relation to, or any other transaction under which payments are to be made
or may be made by reference to that Agreement or any relevant Obligor such Confidential Information which the Seller supplies to the Purchaser in relation to that Acquisition as the Purchaser shall consider appropriate if the person to whom such
Confidential Information is to be given pursuant to this paragraph (b) has delivered a letter to the Purchaser in equivalent form to this undertaking; or 

  

	 	(c)	to whom information is required or requested to be disclosed by any governmental, banking, taxation or other regulatory authority or similar body, the rules of any relevant stock exchange or pursuant to any applicable
law or regulation such Confidential Information which the Seller supplies to the Purchaser in relation to that Acquisition as the Purchaser shall consider appropriate; and 

 

	2.3	notwithstanding paragraphs 2.1 and 2.2 above, Confidential Information to such persons to whom, and on the same terms as, a Finance Party is permitted to disclose such Confidential Information under the Agreement to
which that Acquisition relates, as if such permissions were set out in full in this undertaking for the purposes of that Acquisition and as if references in those permissions to Finance Party were references to the Purchaser for the purposes of that
Acquisition. 

  

	3.	NOTIFICATION OF DISCLOSURE 

 The Purchaser agrees in relation to each Acquisition made or which
may be made by it (to the extent permitted by law and regulation) to inform the Seller: 
  

	3.1	of the circumstances of any disclosure of Confidential Information made pursuant to paragraph 2.2(c) above except where such disclosure is made to any of the persons referred to in that paragraph during the ordinary
course of its supervisory or regulatory function; and 

  

	3.2	upon becoming aware that Confidential Information relating to that Acquisition has been disclosed in breach of this undertaking. 

  

	4.	RETURN OF COPIES 

 If the Purchaser does not enter into an Acquisition and the Seller so
requests in writing, the Purchaser shall return or destroy all Confidential Information supplied to the Purchaser by the Seller in relation to that Acquisition and destroy or permanently erase (to the extent technically practicable) all copies of
such Confidential Information made by the Purchaser and use its reasonable endeavours to ensure that anyone to whom the Purchaser has supplied any such Confidential Information destroys or permanently erases (to the extent technically practicable)
such Confidential Information and any copies made by them, in each case save to the 

  
 - 185 - 

 extent that the Purchaser or the recipients are required to retain any such Confidential
Information by any applicable law, rule or regulation or by any competent judicial, governmental, supervisory or regulatory body or in accordance with internal policy, or where the Confidential Information has been disclosed under paragraph 2.2(c)
above. 
  

	5.	CONTINUING OBLIGATIONS 

 The obligations in this undertaking are continuing and, in particular,
shall survive and remain binding on the Purchaser in relation to each Acquisition made or which may be made by it until (a) if the Purchaser becomes a party to the Agreement to which that Acquisition relates as a lender of record, the date on
which the Purchaser becomes such a party to such Agreement; (b) if the Purchaser enters into that Acquisition but it does not result in the Purchaser becoming a party to the Agreement to which that Acquisition relates as a lender of record, the
date falling twelve months after the date on which all of the Purchaser’s rights and obligations contained in the documentation entered into to implement that Acquisition have terminated; or (c) in any other case the date falling twelve
months after the date of the Purchaser’s final receipt (in whatever manner) of any Confidential Information in relation to that Acquisition. 
  

	6.	NO REPRESENTATION; CONSEQUENCES OF BREACH, ETC 

 The Purchaser acknowledges and agrees that, in
relation to each Acquisition made or which may be made by it: 
  

	6.1	neither the Seller, nor any member of the relevant Group nor any of the Seller’s or the relevant Group’s respective officers, employees or advisers (each a “Relevant Person”) (i)
make any representation or warranty, express or implied, as to, or assume any responsibility for, the accuracy, reliability or completeness of any of the Confidential Information supplied by the Seller to the Purchaser in relation to that
Acquisition or any other information supplied by the Seller to the Purchaser in relation to that Acquisition or the assumptions on which it is based or (ii) shall be under any obligation to update or correct any inaccuracy in the Confidential
Information supplied by the Seller to the Purchaser in relation to that Acquisition or any other information supplied by the Seller to the Purchaser in relation to that Acquisition or be otherwise liable to the Purchaser or any other person in
respect of the Confidential Information supplied by the Seller to the Purchaser in relation to that Acquisition or any such information; and 

  

	6.2	the Seller or members of the relevant Group may be irreparably harmed by the breach of the terms of this undertaking and damages may not be an adequate remedy; each Relevant Person may be granted an injunction or
specific performance for any threatened or actual breach of the provisions of this undertaking by the Purchaser. 

  

	7.	ENTIRE AGREEMENT: NO WAIVER; AMENDMENTS, ETC 

  

	7.1	This undertaking constitutes the entire agreement between the Seller and the Purchaser in relation to the Purchaser’s obligations regarding Confidential Information and supersedes any previous agreement, whether
express or implied, regarding Confidential Information. 

  
 - 186 - 

	7.2	No failure to exercise, nor any delay in exercising any right or remedy under this undertaking will operate as a waiver of any such right or remedy or constitute an election to affirm this letter. No election to affirm
this letter will be effective unless it is in writing. No single or partial exercise of any right or remedy will prevent any further or other exercise or the exercise of any other right or remedy under this undertaking. 

 

	7.3	The terms of this undertaking and the Purchaser’s obligations under this undertaking may only be amended or modified by written agreement between the parties. 

 

	8.	INSIDE INFORMATION 

 The Purchaser acknowledges that some or all of the Confidential Information
is or may be price-sensitive information and that the use of such information may be regulated or prohibited by applicable legislation including securities law relating to insider dealing and market abuse and the Purchaser undertakes not to use any
Confidential Information for any unlawful purpose. 
  

	9.	NATURE OF UNDERTAKINGS 

 The undertakings given by the Purchaser in this undertaking are given
to the Seller and are also given for the benefit of the relevant Company and each other member of the relevant Group. 
  

	10.	THIRD PARTY RIGHTS 

  

	10.1	Subject to this paragraph 10 and to paragraphs 6 and 9, a person who is not a party to this undertaking has no right under the Contracts (Rights of Third Parties) Act 1999 (the “Third
Parties Act”) to enforce or to enjoy the benefit of any term of this undertaking. 

  

	10.2	The Relevant Persons may enjoy the benefit of the terms of paragraphs 6 and 9 subject to and in accordance with this paragraph 10 and the provisions of the Third Parties Act. 

 

	10.3	Notwithstanding any provisions of this undertaking, the parties to this undertaking do not require the consent of any Relevant Person to rescind or vary this undertaking at any time. 

 

	11.	GOVERNING LAW AND JURISDICTION 

  

	11.1	This undertaking and any non-contractual obligations arising out of or in connection with it (including any non-contractual obligations
arising out of the negotiation of any Acquisition) are governed by English law. 

  

	11.2	The courts of England and Wales have non-exclusive jurisdiction to settle any dispute arising out of or in connection with this undertaking (including a dispute relating to any non-contractual obligation arising out of or in connection with either this undertaking or the negotiation of any Acquisition). 

  
 - 187 - 

	12.	DEFINITIONS 

 In this undertaking terms defined in the relevant Agreement (as defined below)
shall, unless the context otherwise requires, have the same meaning and: 
 “Agreement” means the USD600,000,000 revolving
facility agreement dated 8 July 2011 as amended pursuant to an amendment agreement dated 23 August 2013, amended and restated pursuant to amendment and restatement agreements dated 30 September 2015 and 25 June 2018 between, amongst others, Citibank
Europe plc, UK Branch (previously known as Citibank International Limited) as agent, certain financial institutions named therein as lenders and WABCO Holdings Inc. 

“Company” means WABCO Holdings Inc. 

“Confidential Information” means, in relation to each Acquisition, all information relating to the Company, any Obligor, the
Group, the relevant Finance Documents, the Facility and/or that Acquisition which is received by the Purchaser in relation to the relevant Finance Documents or the relevant Facility from the Seller or any of its affiliates or advisers, in whatever
form, and includes information given orally and any document, electronic file or any other way of representing or recording information which contains or is derived or copied from such information but excludes information that: 

 

	 	(a)	is or becomes public information other than as a direct or indirect result of any breach by the Purchaser of this undertaking; or 

  

	 	(b)	is identified in writing at the time of delivery as non-confidential by the Seller or its advisers; or 

 

	 	(c)	is known by the Purchaser before the date the information is disclosed to the Purchaser by the Seller or any of its affiliates or advisers or is lawfully obtained by the Purchaser after that date, from a source which
is, as far as the Purchaser is aware, unconnected with the relevant Group and which, in either case, as far as the Purchaser is aware, has not been obtained in breach of, and is not otherwise subject to, any obligation of confidentiality.

 “Permitted Purpose” means, in relation to each Acquisition, considering and evaluating whether to enter
into that Acquisition. 
 This undertaking has been entered into on the date stated at the beginning of this undertaking 

  
 - 188 - 

 SCHEDULE 10 

TIMETABLES 
 All times referred to in this
Schedule 10 are London time unless otherwise specified. 
  

							
	 	  	Loans in euro	  	Loans in US
Dollars	  	Loans in other currencies
	 Agent confirms to Company if a currency is approved as an Optional Currency in accordance with
paragraph (b) of Clause 4.3 (Conditions relating to Optional Currencies)
	  	—  	  	—  	  	U-5
	 Delivery of a duly completed Utilisation Request (Clause 5.1 (Delivery of a Utilisation
Request))
	  	U-3  

9.30am
	  	U-3  

9.30am
	  	U-4  

9.30am

	 Agent determines (in relation to a Utilisation) the Base Currency Amount of the Loan, if required
under Clause 5.4 (Lenders’ participation)
	  	U-3  

Noon
	  	—  	  	U-4  

Noon

	 Agent notifies the Lenders of the Loan in accordance with Clause 5.4 (Lenders’
participation)
	  	U-3  

3.00pm
	  	U-3  

3.00pm
	  	U-4  

3.00pm

	 Agent receives a notification from a Lender under

Clause 14.2 (Unavailability of a currency)
	  	 Quotation Day 

10.00am
	  	Quotation Day
 10.00am 
	  	 Quotation Day 

10.00am

	 Agent gives notice in accordance with Clause 14.2 (Unavailability of a currency)
	  	 Quotation Day 

10.30am
	  	 Quotation Day 

10.30am
	  	 Quotation Day 

10.30am

	 LIBOR or EURIBOR is fixed
	  	Quotation Day
 11:00 a.m.Brussels time
	  	Quotation Day
11:00 a.m.	  	Quotation Day
 11:00 a.m.

	 Benchmark Rate is fixed for a Loan in a Non-LIBOR
Currency
	  	—  	  	—  	  	As specified in respect
of that currency in
 Schedule 18(Other
Benchmarks)

  
 - 189 - 

							
	 	  	Loans in euro	 	Loans in US
Dollars	  	Loans in other
currencies
	 Each Lender to make its participation in a Loan available in accordance with Clause 5.4
(Lenders’ Participation)
	  	U 2:00 p.m.	 	U 2:00 p.m.	  	U 2:00 p.m.
	 Reference Bank Rate is calculated by reference to available quotations in accordance with Clause
19.2 (Calculation of Reference Bank Rate)
	  	Quotation Day
 11.30 a.m.
(Brussels time)
	 	Noon on the
Quotation Day	  	Noon on the
Quotation Day in
respect of LIBOR
and as specified
as such in respect
of the relevant
currency in
 Schedule
18(Other
Benchmarks) in
respect of a
Benchmark Rate

 “U” = date of utilisation 

“U - X” = Business Days prior to date of utilisation 

  
 - 190 - 

 SWINGLINE LOANS 
  

									
	 	  	Dollar
Swingline
Loans
(other than
to a
Borrower in
Singapore or
Hong Kong)	  	Dollar
Swingline
Loans to a
Borrower in
Singapore or
Hong Kong	  	Euro
Swingline
Loans
(other than
to a
Borrower
in
Singapore
or Hong
Kong)	  	Euro
Swingline
Loans to a
Borrower
in
Singapore
or Hong
Kong
	Delivery of a duly completed Utilisation Request for a Dollar Swingline Loan (Clause 9.1 (Delivery of a Utilisation Request for Dollar Swingline
Loans))	  	U	  	U - 2	  		  	
	  	12:00 noon	  	12:00 noon	  		  	
	  	(New York time)	  	(New York time)	  		  	
					
	 Dollar Swingline Agent determines Federal Funds Rate under

Clause 10.4 (Interest)
	  	U	  	U - 2	  		  	
	  	1:00pm	  	1:00pm	  		  	
	  	(New York time)	  	(New York time)	  		  	
					
	Dollar Swingline Agent notifies the Dollar Swingline Lender and the other Lenders of the amount of the Dollar Swingline Loan in accordance with paragraph (c) of Clause 9.3 (Dollar Swingline Loan
conditions)	  	U	  	U - 1	  		  	
	  	2:00pm	  	2:00pm	  		  	
	  	(New York time)	  	(New York time)	  		  	
					
	 Dollar Swingline Lender notifies the Dollar Swingline Agent that it requires the Lenders to fund its participation in a Dollar Swingline Loan
pursuant to Clause 10.1 (Dollar Swingline Loan participation)
	  	 N 9:00am

(New York time)
	  	 N 9:00am

(New York time)
	  		  	
					
	 Dollar Swingline Agent notifies the Lenders of the requirement to participate in a Dollar Swingline Loan pursuant to Clause 10.1 (Dollar
Swingline Loan participation)
	  	 N 11:00

a.m. (New York time)
	  	 N 11:00

a.m. (New York time)
	  		  	
					
	Each Lender to make its participation in a Dollar Swingline Loan available pursuant to Clause 10.1 (Dollar Swingline Loan Participation)	  	 N 3:00pm

(New York time)
	  	 N + 2

9:00am (New York time)
	  		  	

  
 - 191 - 

									
	 	  	Dollar
Swingline
Loans
(other than
to a
Borrower
in
Singapore
or Hong
Kong)	  	Dollar
Swingline
Loans to a
Borrower
in
Singapore
or Hong
Kong	  	Euro
Swingline
Loans
(other than
to a
Borrower in
Singapore or
Hong Kong)	  	Euro
Swingline
Loans to a
Borrower
in
Singapore
or Hong
Kong
					
	Delivery of a duly completed Utilisation Request for a Euro Swingline Loan (Clause 12.1 (Delivery of a Utilisation Request for Euro Swingline Loans))	  		  		  	U 11:00am	  	U - 2 11:00am
					
	 Euro Swingline Agent determines the Euro Swingline rate for the Euro Swingline Loan and notifies the Euro Swingline Lender and the relevant
Borrower under
 Clause 13.4 (Interest)
	  		  		  	U 1.00pm	  	 U - 2

1.00pm

					
	Euro Swingline Agent determines (in relation to a Utilisation) the Base Currency Amount of the Euro Swingline Loan, if required under Clause 12.3 (Euro Swingline Loan conditions) and notifies the Euro Swingline Lender and the
other Lenders of the amount of the Euro Swingline Loan in accordance with paragraph (c) of Clause 12.3 (Euro Swingline Loan conditions)	  		  		  	U 2:00pm	  	 U - 1

2:00pm

					
	Euro Swingline Lender notifies the Euro Swingline Agent that it requires the Lenders to fund its participation in a Euro Swingline Loan pursuant to Clause 13.1 (Euro Swingline Loan participation)	  		  		  	N 9.00am	  	N 9.00am
					
	Euro Swingline Agent notifies the Lenders of the requirement to participate in a Euro Swingline Loan pursuant to Clause 13.1 (Euro Swingline Loan participation)	  		  		  	 N 12.00

noon
	  	N 3.00pm

  
 - 192 - 

									
	 	  	Dollar
Swingline
Loans
(other than
to a
Borrower
in
Singapore
or Hong
Kong)	  	Dollar
Swingline
Loans to a
Borrower
in
Singapore
or Hong
Kong	  	Euro
Swingline
Loans
(other than
to a
Borrower
in
Singapore
or Hong
Kong)	  	Euro
Swingline
Loans to
a
Borrower
in
Singapore
or Hong
Kong
	Each Lender to make its participation in a Euro Swingline Loan available pursuant to Clause 13.1 (Euro Swingline Loan participation)	  		  		  	N 2:00pm	  	N + 2 9:00am

 “U” = date of utilisation 

“U - X” = Business Days prior to date of utilisation 

“N” = the date a Swingline Lender gives notice to the relevant Swingline Agent that it requires the Lenders to fund its participation in a Swingline
Loan 
 “N + X” = Business Days after the date a Swingline Lender gives notice to the relevant Swingline Agent that it requires the Lenders to
fund its participation in a Swingline Loan 

  
 - 193 - 

 LETTERS OF CREDIT 

 

			
	 	  	Letters of Credit
	Delivery of a duly completed Utilisation Request (Clause 6.3 (Delivery of a Utilisation Request for Letters of Credit))	  	 U-3

 
 9.30 am

	Agent determines (in relation to a Utilisation) the Base Currency Amount of the Letter of Credit, if required under paragraph (d) of Clause 6.6 (Issue of Letters of Credit) and notifies the Issuing Bank and the Lenders
of the Letter of Credit in accordance with paragraph (d) of Clause 6.6 (Issue of Letters of Credit)	  	 U-1

 
 Noon

		
	Delivery of a duly completed Renewal Request (Clause 6.7 (Renewal of a Letter of Credit))	  	 U-3

 
 9.30 am

 “U” = date of utilisation or, in the case of a Letter of Credit to be renewed in accordance with Clause 6.7
(Renewal of a Letter of Credit), the first day of the proposed term of the renewed Letter of Credit. 
 “U - X” = Business Days prior to
date of utilisation 

  
 - 194 - 

 SCHEDULE 11 

FORM OF LETTER OF CREDIT 
  

	To:	[Beneficiary] 

 (the “Beneficiary”) 

[Date] 
 Irrevocable
Letter of Credit no. [•] 
 At the request of [•], Citibank, N.A., London Branch (the “Issuing Bank”) issues this irrevocable
letter of credit (“Letter of Credit”) in your favour on the following terms and conditions: 
  

	1.	Definitions 

 In this Letter of Credit: 

“Business Day” means a day (other than a Saturday or a Sunday) on which banks are open for general business in London and New
York. 
 “Demand” means a demand for a payment under this Letter of Credit in the form of the schedule to this Letter of
Credit. 
  

	 	“Expiry	Date” means [•]. 

 “Facility Agreement” means the
USD600,000,000 revolving facility agreement dated 8 July 2011 (as amended from time to time) between, among others, Citibank Europe plc, UK Branch (previously known as Citibank International Limited) as agent, the Issuing Bank and WABCO Holdings,
Inc.. 
  

	 	“Total	L/C Amount” means [•]. 

  

	2.	Issuing Bank’s agreement 

  

	 	(a)	The Beneficiary may request a drawing or drawings under this Letter of Credit by giving to the Issuing Bank a duly completed Demand. A Demand must be received by the Issuing Bank no later than [•] p.m. ([London]
time) on the Expiry Date. 

  

	 	(b)	Subject to the terms of this Letter of Credit, the Issuing Bank unconditionally and irrevocably undertakes to the Beneficiary that, within [ten] Business Days of receipt by it of a Demand, it must pay to the Beneficiary
the amount demanded in that Demand. 

  

	 	(c)	The Issuing Bank will not be obliged to make a payment under this Letter of Credit if as a result the aggregate of all payments made by it under this Letter of Credit would exceed the Total L/C Account.

  
 - 195 - 

	3.	Expiry 

  

	 	(a)	The Issuing Bank will be released from its obligations under this Letter of Credit on the date (if any) notified by the Beneficiary to the Issuing Bank as the date upon which the obligations of the Issuing Bank under
this Letter of Credit are released. 

  

	 	(b)	Unless previously released under paragraph (a) above, at [•] p.m. ([London] time) on the Expiry Date the obligations of the Issuing Bank under this Letter of Credit will cease with no further liability on the
part of the Issuing Bank except for any Demand validly presented under the Letter of Credit that remains unpaid. 

  

	 	(c)	When the Issuing Bank is no longer under any further obligations under this Letter of Credit, the Beneficiary must return the original of this Letter of Credit to the Issuing Bank. 

 

	4.	Payments 

 All payments under this Letter of Credit shall be made in USD and for value on
the due date to the account of the Beneficiary specified in the Demand. 
  

	5.	Delivery of Demand 

 Each Demand shall be in writing, and, unless
otherwise stated, may be made by letter and must be received in legible form by the Issuing Bank at its address and by the particular department or officer (if any) as follows: 

Citibank N.A., Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB and must be marked for the attention of: European Trade Service
Department, SBLC Issuance Unit. 
  

	6.	Expiry 

 This Letter of Credit shall expire on DDMMYY (the
“Present Expiry Date”). It is a condition of this Letter of Credit that it shall be deemed automatically extended, without amendment, for additional period(s) of one year from the Present
Expiry Date or any future expiration date, but in no event beyond DDMMYY (the “Final Expiry Date”), unless we notify you in writing, not less than [xx] days prior to any such expiration date
that we have elected not to extend such expiration date of such additional period. 
  

	7.	Transfer and Assignment of Proceeds 

 This Letter of
Credit is not transferable and proceeds hereunder cannot be assigned. 
  

	8.	ISP 98 

 Except to the extent it is inconsistent with the express terms of
this Letter of Credit, this Letter of Credit is subject to the International Standby Practices (ISP 98), International Chamber of Commerce Publication No. 590. 

  
 - 196 - 

	9.	Governing Law 

 This Letter of Credit and any
non-contractual obligations arising out of or in connection with it are governed by English law. 
  

	10.	Jurisdiction 

 The courts of England and Wales have exclusive jurisdiction to settle any
dispute arising out of or in connection with this Letter of Credit. 
 Yours faithfully, 

CITIBANK, N.A., LONDON BRANCH 
 By: 

  
 - 197 - 

 Schedule to Letter of Credit 

Form of demand 
  

	To:	Citibank, N.A., London Branch 

 Citigroup Centre, Canada Square, Canary Wharf 

London E14 5LB 
  

	Attention:	European Trade Service Department, SBLC issuance Unit 

 [Date] 

Dear Sirs 
 Letter of Credit no. [•] issued in favour of
[BENEFICIARY] (the “Letter of Credit”) 
 We refer to the Letter of Credit. Terms defined in the Letter of Credit have the same meaning when
used in this Demand. 
  

	1.	We certify that the sum of [•] is due [and has remained unpaid for at least [•] Business Days] [under [set out underlying contract or agreement]]. We therefore demand payment of the sum of [•].

  

	2.	Payment should be made to our account as follows: 

 Name: 

Account Number: 
 Bank: 

 

	3.	The date of this Demand is not later than the Expiry Date. 

 Yours faithfully 

 

			
	Authorised Signatory	  	(Authorised Signatory)

 For 

[BENEFICIARY] 

  
 - 198 - 

 SCHEDULE 12 

FACILITY APPROVED L/C BENEFICIARIES 

[Intentionally left blank] 

  
 - 199 - 

 SCHEDULE 13 

FORM OF COMMITMENT INCREASE NOTICE 
  

	To:	Citibank Europe plc, UK Branch (previously known as Citibank International Limited) as Agent 

  

	From:	[•] (the “Lender”) Dated: 

 WABCO Holdings Inc. – USD600,000,000
Revolving Facility Agreement 
 dated 8 July 2011 (as amended from time to time) (the “Facility Agreement”) 

 

	1.	We refer to the Facility Agreement. This notice shall take effect as a Commitment Increase Notice for the purpose of the Facility Agreement. Terms defined in the Facility Agreement have the same meaning in this notice
unless given a different meaning herein. 

  

	2.	We hereby agree to increase our Commitment by an amount equal to USD[•], thereby making our Commitment an amount equal to USD[•]. 

 

	3.	We confirm the proposed Increase Effective Date is [•]. 

  

	4.	This notice is a Finance Document. 

  

	5.	This notice and any non-contractual obligations arising out of or in connection with it are governed by and construed in accordance with English law. 

SIGNED 
  

					
	  
	  		  	

 For and on behalf of 

[LENDER] 
 This notice is accepted by the Agent. 

 

					
	  
	  		  	

 For and on behalf of 
 CITIBANK
EUROPE PLC, UK BRANCH (PREVIOUSLY KNOWN AS CITIBANK INTERNATIONAL LIMITED) 
 as Agent for itself and on behalf of other Finance Parties 

Date: 

  
 - 200 - 

 SCHEDULE 14 

FORM OF FURTHER LENDER ACCESSION LETTER 
  

	To:	CITIBANK EUROPE PLC, UK BRANCH (PREVIOUSLY KNOWN AS CITIBANK INTERNATIONAL LIMITED) 

 From: [The Further
Lender] (the “Further Lender”) Dated: 
 WABCO Holdings Inc. – USD600,000,000 Revolving Facility Agreement dated
8 July 2011 (as amended from time to time) (the “Facility Agreement”) 
  

	1.	We refer to the Facility Agreement. This accession letter shall take effect as a Further Lender Accession Letter for the purpose of the Facility Agreement. Terms defined in the Facility Agreement have the same meaning
in this letter unless given a different meaning herein. 

  

	2.	We hereby agree to become a Lender and to assume a Commitment in an amount of USD [•]. 

  

	3.	We confirm the proposed Increase Effective Date is [[•]]. 

  

	4.	[For the purposes of paragraph (d)(i) of Clause 7.5 (Cash collateral by Non- Acceptable L/C Lender and
Borrower’s option to provide cash cover) of the Facility Agreement, we confirm that we are not a Non-Acceptable L/C
Lender.] 

  

	5.	Our Facility Office address and related details are as follows: 

 [Facility Office address,
fax number and attention details for notices and accounts details for payments] 
  

	6.	This Further Lender Accession Letter is a Finance Document. 

  

	7.	This letter and any non-contractual obligations arising out of or in connection with it are governed by and construed in accordance with English law. 

 

	
	SIGNED
	
	  

	 For and on behalf of
 [Further
Lender]

 This Further Lender Accession Letter is accepted by the Agent. 

 

	
	  

	For and on behalf of

 CITIBANK EUROPE PLC, UK BRANCH (PREVIOUSLY KNOWN AS CITIBANK INTERNATIONAL LIMITED) 

as Agent for itself and on behalf of the other Finance Parties 

Date: 

  
 - 201 - 

 SCHEDULE 15 

DESIGNATED ENTITIES 
  

					
	Related Lender	  	Designated Entity	  	Borrower
			
	Bank of America Merrill Lynch International Limited	  	Bank of America N.A.	  	Wabco Holdings Inc
			
	Bank of America Merrill Lynch International Limited	  	Bank of America Merrill Lynch International Limited	  	Wabco Europe BVBA
			
	Bank of America Merrill Lynch International Limited	  	Bank of America Merrill Lynch International Limited	  	Wabco Financial Services Sprl
			
	Bank of America Merrill Lynch International Limited	  	Bank of America N.A., Singapore Branch	  	Wabco Asia Private Ltd
			
	Bank of America Merrill Lynch International Limited	  	Bank of America N.A., Hong Kong Branch	  	Wabco Hong Kong Ltd
			
	Citibank, N.A., London Branch	  	Citibank, N.A., Singapore Branch	  	Wabco Asia Private Ltd

  
 - 202 - 

 SCHEDULE 16 

DESIGNATED ENTITY ACCESSION LETTER 
  

	To:	CITIBANK EUROPE PLC, UK BRANCH (PREVIOUSLY KNOWN AS CITIBANK INTERNATIONAL LIMITED) 

  

	From:	[Designated Entity] (the “Designated Entity”) 

 [Related Lender]
(the “Related Lender”) 
 Dated: 

WABCO Holdings Inc. – USD600,000,000 Revolving Facility Agreement 

dated 8 July 2011 (as amended from time to time) (the “Facility Agreement”) 

 

	1.	We refer to the Facility Agreement. This accession letter shall take effect as a Designated Entity Accession Letter for the purpose of the Facility Agreement. Terms defined in the Facility Agreement have the same
meaning in this letter unless given a different meaning herein. 

  

	2.	Following a request by [Related Lender], we hereby agree to accede to the Facility Agreement as a Designated Entity for the purposes of participating in Loans to Borrowers incorporated in
[Designated Jurisdiction] on its behalf. [Related Lender] hereby consents to such accession. 

  

	3.	[For the purposes of paragraph (d)(i) of Clause 7.5 (Cash collateral by Non- Acceptable L/C Lender and
Borrower’s option to provide cash cover) of the Facility Agreement, we confirm that we are not a Non-Acceptable L/C
Lender.] 

  

	4.	Our Facility Office address and related details are as follows: [Facility Office address, fax number and attention details for
notices and accounts details for payments]. 

  

	5.	This Designated Entity Accession Letter is a Finance Document. 

  

	6.	This letter and any non-contractual obligations arising out of or in connection with it are governed by and construed in accordance with English law. 

SIGNED 
  

					
	  
	 		 	  

	For and on behalf of	 		 	For and on behalf of
	[Designated Entity]	 		 	[Related Lender]

 This Designated Entity Accession Letter is accepted by the Agent. 

 

					
	  
	 		 	
	For and on behalf of	 		 	

 CITIBANK EUROPE PLC, UK BRANCH (PREVIOUSLY KNOWN AS CITIBANK INTERNATIONAL LIMITED) 

as Agent for itself and on behalf of the other Finance Parties Date: 

  
 - 203 - 

 SCHEDULE 17 

FORM OF EXTENSION REQUEST 
  

	From:	WABCO Holdings Inc. 

  

	To:	[Agent] as the Agent 

 Date: Dear Sirs, 

WABCO Holdings Inc. – USD600,000,000 Revolving Facility Agreement 

dated 8 July 2011 (as amended from time to time) (the “Facility Agreement”) 

 

	1.	We refer to the Facility Agreement. This is the [First/Second] Extension Request. Terms defined in the Facility Agreement have the same meaning in this Extension Request unless given a different meaning in this
Extension Request. 

  

	2.	We request an extension of the Termination Date pursuant to Clause 2.3 (Extension option) of the Facility Agreement from [insert current Termination
Date] to [insert new Termination Date], being the [First/Second] Extended Termination Date. 

  

	3.	We confirm that as of the date hereof: 

  

	 	(a)	no Default is continuing or would result from the extension of the Termination Date; and 

  

	 	(b)	the Repeating Representations to be made by each Obligor are true in all material respects. 

  

	4.	This notice and any non-contractual obligations arising out of or in connection with it are governed by English law. 

Yours faithfully 
  

	
	  

 authorised signatory for 

WABCO HOLDINGS INC. 

  
 - 204 - 

 SCHEDULE 18 

OTHER BENCHMARKS 
 PART I

 HKD CURRENCIES 
  

			
	CURRENCY:	  	Hong Kong Dollars
		
	Definitions	  	
		
	Business Day:	  	Any day on which banks are open for general business in Hong Kong
		
	Fallback Interest Period:	  	One week
		
	Quotation Day:	  	2 Business Days before the first day of the period
		
	Reference Bank Rate:	  	The rate for the offering of deposits in Hong Kong Dollars for a period comparable to the Interest Period of the relevant Loan.
		
	Relevant Market:	  	Hong Kong interbank market
		
	Screen Rate:	  	The Hong Kong interbank offered rate administered by the Hong Kong Association of Banks (or any other person which takes over the administration of that rate) for the relevant period displayed on page “HKAB HKD Interest
Settlement Rates” of the Hong Kong Association of Banks website (or any replacement page on the Hong Kong Association of Banks website which displays the rate) or on the appropriate page of such other information service which publishes that
rate from time to time in place of the Hong Kong Association of Banks. If such page or service ceases to be available, the Agent may specify another page or service displaying the relevant rate after consultation with the Company.
		
	Interest Periods	  	
		
	Periods capable of selection as Interest Periods (paragraph (b) of Clause 18.1 (Selection of Interest Periods)):	  	3, 6 or 12 Months
		
	Rate fixing timings	  	
		
	Time at which Benchmark Rate is fixed (Schedule 10 (Timetables)):	  	Quotation Day 11:00 a.m. (Hong Kong time)

  
 - 205 - 

			
	Time at which Reference Bank Rate falls to be calculated by reference to available quotations (Schedule 10 (Timetables)):	  	Noon on the Quotation Day (Hong Kong time)
		
	Deadline for quotations to establish a Reference Bank Rate (paragraph (b) of Clause 19.2 (Calculation of Reference Bank Rate)):	  	Noon on the Quotation Day (Hong Kong time)
		
	Deadline for Lenders to report market disruption (Clause 19.3 (Market disruption)):	  	Before close of business in Hong Kong on the Quotation Day

  
 - 206 - 

 PART II 

SINGAPORE DOLLARS 
  

			
	CURRENCY:	  	Singapore Dollars
		
	Definitions	  	
		
	Business Day:	  	Any day on which banks are open for general business in Singapore
		
	Fallback Interest Period:	  	One week
		
	Quotation Day:	  	2 Business Days before the first day of the period
		
	Reference Bank Rate:	  	The rate for the offering of deposits in Singapore Dollars for a period comparable to the Interest Period of the relevant Loan.
		
	Relevant Market:	  	London interbank market
		
	Screen Rate:	  	The Singapore interbank offered rate administered by ABS Benchmarks Administration Co Pte. Ltd. (or any other entity or person which takes over the administration of that rate) (the “ABS Administrator”) for the
relevant period displayed on page ABSIRFIX01 of the Thomson Reuters screen (or any replacement Thomson Reuters page which displays that rate), or on the appropriate page of such other information service which publishes that rate from time to time
in place of Thomson Reuter If such page or service ceases to be available, the Agent may specify another page or service displaying the relevant rate after consultation with the Company.
		
	Interest Periods	  	
		
	Periods capable of selection as Interest Periods (paragraph (b) of Clause 18.1 (Selection of Interest Periods)):	  	3 or 6 Months
		
	Rate fixing timings	  	
		
	Time at which Benchmark Rate is fixed (Schedule 10 (Timetables)):	  	Quotation Day 11:00 a.m. (Singapore time)
		
	Time at which Reference Bank Rate falls to be calculated by reference to available quotations (Schedule 10 (Timetables)):	  	Noon on the Quotation Day (Singapore time)

  
 - 207 - 

			
	Deadline for quotations to establish a Reference Bank Rate (paragraph (b) of Clause 19.2 (Calculation of Reference Bank Rate)):	  	Noon on the Quotation Day (Singapore time)
		
	Deadline for Lenders to report market disruption (Clause 19.3 (Market disruption)):	  	Before close of business in Singapore on the Quotation Day

  
 - 208 - 

 SIGNATURES 

Documentary duty of EUR 0.15 per original paid by bank transfer from Clifford Chance on 29 September 2016. Droit d’ecriture de 0,15 euro par original
payé par transfert bancaire de Clifford Chance le 29 septembre 2016. Recht op geschriften van 0,15 euro per origineel betaald per overschrijving door Clifford Chance op 29 september 2016. 

The Company 
 For and on behalf of 

WABCO HOLDINGS INC. 
  

			
	By:	 	/s/ Alexander De Bock
		
	Name:	 	Alexander De Bock
		 	Authorised Signatory of WABCO Holdings Inc.
		
	Title:	 	Treasurer, WABCO Holdings Inc.
		
	Address:	 	Chaussée de la Hulpe 166, 1170 Brussels, Belgium
		
	Fax:	 	+32 2 663 9896
		
	Email:	 	alexander.debock@wabco-auto.com

 Signature page to the Amendment Agreement 

 The Borrowers 

For and on behalf of 
 WABCO HOLDINGS INC. 

 

			
	By:	 	/s/ Alexander De Bock
		
	Name:	 	Alexander De Bock
		 	Authorised Signatory of WABCO Holdings Inc.
		
	Title:	 	Treasurer, WABCO Holdings Inc.
		
	Address:	 	Chaussée de la Hulpe 166, 1170 Brussels, Belgium
		
	Fax:	 	+32 2 663 9896
		
	Email:	 	alexander.debock@wabco-auto.com

 Signature page to the Amendment Agreement 

 The Borrowers 

For and on behalf of 
 WABCO EUROPE BVBA 

 

			
	By:	 	/s/ Alexander De Bock
		
	Name:	 	Alexander De Bock
		 	Authorised Signatory of WABCO Europe BVBA
		
	Title:	 	Treasurer, WABCO Holdings Inc.
		
	Address:	 	Chaussée de la Hulpe 166, 1170 Brussels, Belgium
		
	Fax:	 	+32 2 663 9896
		
	Email:	 	alexander.debock@wabco-auto.com

 Signature page to the Amendment Agreement 

 The Borrowers 

For and on behalf of 
 WABCO FINANCIAL SERVICES SPRL 

 

			
	By:	 	/s/ Alexander De Bock
		
	Name:	 	Alexander De Bock
		 	Authorised Signatory of WABCO Financial Services Sprl
		
	Title:	 	Treasurer, WABCO Holdings Inc.
		
	Address:	 	Chaussée de la Hulpe 166, 1170 Brussels, Belgium
		
	Fax:	 	+32 2 663 9896
		
	Email:	 	alexander.debock@wabco-auto.com

 Signature page to the Amendment Agreement 

 The Borrowers 

For and on behalf of 
 WABCO ASIA PRIVATE LTD. 

 

			
	By:	 	/s/ Alexander De Bock
		
	Name:	 	Alexander De Bock
		 	Authorised Signatory of WABCO Asia Private Ltd.
		
	Title:	 	Treasurer, WABCO Holdings Inc.
		
	Address:	 	25 International Business Park, #03-68/69 German Centre, 609916 Singapore
		
	Fax:	 	+65 6535 6678
		
	Email:	 	alexander.debock@wabco-auto.com

 Signature page to the Amendment Agreement 

 The Borrowers 

For and on behalf of 
 WABCO HONG KONG LIMITED 

 

			
	By:	 	/s/ Alexander De Bock
		
	Name:	 	Alexander De Bock
		 	Authorised Signatory of WABCO Hong Kong Limited
		
	Title:	 	Treasurer, WABCO Holdings Inc.
		
	Address:	 	14th 11 Floor, Hutchinson House, 10 Harcourt Road, Central, Hong Kong SAR, China
		 	
	Fax:	 	+852 2845 0476
		
	Email:	 	alexander.debock@wabco-auto.com

 Signature page to the Amendment Agreement 

 The Guarantor 

For and on behalf of 
 WABCO HOLDINGS INC. 

 

			
	By:	 	/s/ Alexander De Bock
		
	Name:	 	Alexander De Bock
		 	Authorised Signatory of WABCO Holdings Inc.
		
	Title:	 	Treasurer, WABCO Holdings Inc.
		
	Address:	 	Chaussee de la Hulpe 166, 1170 Brussels, Belgium
		
	Fax:	 	+32 2 663 9896
		
	Email:	 	alexander.debock@wabco-auto.com

 Signature page to the Amendment Agreement 

 The Arrangers 

For and on behalf of 
 BANK OF AMERICA MERRILL LYNCH
INTERNATlONAL LIMITED 
  

			
	By:	 	/s/ JUSTIN CHEUNG
		
		 	JUSTIN CHEUNG
		 	VP

 Signature page to the Amendment Agreement 

 For and on behalf of 

BNP PARIBAS FORTIS SA/NV 
  

									
	By:	  	/s/ Eliane VAN DEN EECKHOUT	  		 	/s/ Hans DE LANGHE
				
		  	        Eliane VAN DEN EECKHOUT	  		 	        Hans DE LANGHE
		  	                Manager	  		 	                Manager
		  	Client Servicing Sophisticated Contracting	  		 	Client Servicing Sophisticated Contracting

 Signature page to the Amendment Agreement 

 For and on behalf of 

CITIGROUP GLOBAL MARKETS LIMITED 
  

			
	By:	 	

		 	

 Signature page to the Amendment Agreement 

 For and on behalf of 

HSBC BANK PLC, BRUSSELS BRANCH 
  

			
	By:	 	/s/ Tatiana Renko
		
		 	Tatiana Renko
		 	Chief Executive Officer
		 	HSBC Bank plc, Brussels Branch

 Signature page to the Amendment Agreement 

 For and on behalf of 

ING BELGIUM SA/NV 
  

 

							
	By:	  	/s/ Els Streng	 		 	/s/ Sébastien D’Hondt
				
		  	Els Streng	 		 	Sébastien D’Hondt
		  	Senior Advisor, Corporate Lending	 		 	Head of Clients Belgium
		  	Wholesale Banking	 		 	
		  	ING Belgium NV/SA	 		 	

 Signature page to the Amendment Agreement 

 For and on behalf of 

MUFG BANK, LTD. (FORMERLY KNOWN AS THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.) 
  

			
	By:	 	/s/ Maria Iarriccio
		
		 	Maria Iarriccio
		 	Director

 Signature page to the Amendment Agreement 

			
	 For and on behalf of
  

UNICREDIT BANK AG

	
	By:
		
	

	 	                

  
 Signature page to the
Amendment Agreement 

			
	 The Coordinator
  

For and on behalf of
  

CITIGROUP GLOBAL MARKETS LIMITED

		
	By:	 	

  
 Signature page to the
Amendment Agreement 

			
	 The Dollar Swingline Agent
  

For and on behalf of
  

CITIBANK N.A.

		
	By:	  	

		
	Address:	  	22nd floor, 388 Greenwich St., New York, NY 10013, USA
		
	Fax:	  	+ I (646)-274-5000
		
	Attention:	  	Investor Relations

  
 Signature page to the
Amendment Agreement 

			
	 The Original Dollar Swingline Lender
  

For and on behalf of
  

CITIBANK N.A.

		
	By:	 	

		 	

  
 Signature page to the
Amendment Agreement 

			
	 The Original Euro Swingline Lender
  

For and on behalf of
  

CITIBANK N.A.

		
	By:	 	

  
 Signature page to the
Amendment Agreement 

 The Agent 

For and on behalf of 
 CITIBANK EUROPE PLC, UK BRANCH
(PREVIOUSLY KNOWN AS CITIBANK INTERNATIONAL LIMITED) 
  

			
		
	By:	  	/s/ Steve Wright
		
	Address:	  	5th Floor, Citigroup Centre, 25 Canada Square, Canary Wharf, London E 14 5LB (Mail drop CGC2 05-65), United Kingdom
		
	Fax:	  	+44 (0) 20 7492 3980
		
	Attention:	  	EMEA Loans Agency

  
 Signature page to the
Amendment Agreement 

 The Euro Swingline Agent 

For and on behalf of 
 CITIBANK EUROPE PLC, UK BRANCH
(PREVIOUSLY KNOWN AS CITIBANK INTERNATIONAL LIMITED) 

			
		
	By:	  	/s/ Steve Wright
		
	Address:	  	5th Floor, Citigroup Centre, 25 Canada Square, Canary Wharf, London El4 5LB
		
	Fax:	  	+44 (0) 20 7492 3980
		
	Attention:	  	EMEA Loans Agency

  
 Signature page to the
Amendment Agreement 

 The 100M Agent 

For and on behalf of 
 CITIBANK EUROPE PLC, UK BRANCH
(PREVIOUSLY KNOWN AS CITIBANK INTERNATIONAL LIMITED) 

			
		
	By:	  	/s/ Steve Wright
		
	Address:	  	5th Floor, Citigroup Centre, 25 Canada Square, Canary Wharf, London E 14 5LB (Mail drop CGC2 05-65), United Kindom
		
	Fax:	  	+44 (0) 20 7492 3980
		
	Attention:	  	EMEA Loans Agency

  
 Signature page to the
Amendment Agreement 

 The Issuing Bank 

For and on behalf of 
 CITIBANK, N.A., LONDON BRANCH 

			
		
	By:	  	

		
	Address:	  	Citibank International Limited Poland Branch on behalf of Citibank, N.A., London Branch, Loans Operations Department, 7/9 Traugutta str., 1st Floor,
00-985 Warsaw, Poland
		
	Fax:	  	+44 (0) 20 7655 2380
		
	Attention:	  	Loans Operations Department

  
 Signature page to the
Amendment Agreement 

 The Departing Lenders 

For and on behalf of 
 CREDIT LYONNAIS 

 

			
		
	By:	 	 

		 	 LCL

BEGF - Direction Marchés,

Conseil & Financement
 B.C.
14-08
 19 Boulevard des ltaliens

75002 PARIS

  
 Signature page to the
Amendment Agreement 

 For and on behalf of 

NATIONAL WESTMINSTER BANK PLC 
  

							
	By:	  	 /s/ R.G.P. de Esch
	  		  	 /s/ V.M. van der Vorm

		  	R.G.P. de Esch	  		  	V.M. van der Vorm

  
 Signature page to the
Amendment Agreement 

 The Continuing Lenders 

For and on behalf of 
 BANK OF AMERICA MERRILL LYNCH
INTERNATIONAL LIMITED 

			
		
	By:	 	/s/ Justin Cheung
		
		 	Justin Cheung
		 	VP

  
 Signature page to the
Amendment Agreement 

 For and on behalf of 

BNP PARIBAS FORTIS SA/NV 
  

									
	By:	  	/s/ Eliane VAN DEN EECKHOUT	  		 	/s/ Hans DE LANGHE
				
		  	        Eliane VAN DEN EECKHOUT	  		 	        Hans DE LANGHE
		  	                Manager	  		 	                Manager
		  	Client Servicing Sophisticated Contracting	  		 	Client Servicing Sophisticated Contracting

  
 Signature page to the
Amendment Agreement 

 For and on behalf of 

CITIBANK, N.A., LONDON BRANCH 

			
	
		
	By:	 	

		 	

  
 Signature page to the
Amendment Agreement 

 For and on behalf of 

ING BELGIUM SA/NV 
  

							
	By:	  	/s/ Els Streng	  		  	/s/ Sébastien D’Hondt
				
		  	Els Streng	  		  	Sébastien D’Hondt
		  	 Senior Advisor, Corporate Lending Wholesale Banking

ING Belgium NV/SA
	  		  	Head of Clients Belgium

  
 Signature page to the
Amendment Agreement 

 For and on behalf of 

MUFG BANK, LTD. (FORMERLY KNOWN AS THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.) 

			
	
		
	By:	 	/s/ Maria Iarriccio
		
		 	Maria Iarriccio
		 	Director

  
 Signature page to the
Amendment Agreement 

  

			
	 For and on behalf of
  

UNICREDIT BANK AG

	
	By:
		
	

	 	                

  
 Signature page to the
Amendment Agreement 

 The New Lenders 

For and on behalf of 
 HSBC BANK PLC, BRUSSELS BRANCH 

			
	
		
	By:	 	/s/ Tatiana Renko
		
		 	Tatiana Renko
		 	Chief Executive Officer
		 	HSBC Bank plc, Brussels Branch

  
 Signature page to the
Amendment Agreement 

 The Designated Entities 

For and on behalf of 
 BANK OF AMERICA N.A. 

			
	
		
	By:	 	/s/ Kathleen Negri
		
		 	Kathleen Negri
		 	Assistant Vice President

  
 Signature page to the
Amendment Agreement 

 For and on behalf of 

BANK OF AMERICA MERRILL LYNCH INTERNATIONAL LIMITED 

			
	
		
	By:	 	/s/ Justin Cheung
		
		 	Justin Cheung
		 	VP

  
 Signature page to the
Amendment Agreement 

 For and on behalf of 

BANK OF AMERICA MERRILL LYNCH INTERNATIONAL LIMITED 

			
	
		
	By:	 	/s/ Justin Cheung
		
		 	Justin Cheung
		 	VP

  
 Signature page to the
Amendment Agreement 

 For and on behalf of 

BANK OF AMERICA N.A., SINGAPORE BRANCH 

			
	
		
	By:	 	/s/ Alvin Augustine
		
		 	Alvin Augustine
		 	Vice President

  
 Signature page to the
Amendment Agreement 

 For and on behalf of 

BANK OF AMERICA N.A., HONG KONG BRANCH 

			
	
		
	By:	 	/s/ Sandra Wong
		
		 	Sandra Wong
		 	Vice President

  
 Signature page to the
Amendment Agreement 

 For and on behalf of 

CITIBANK, N.A., SINGAPORE BRANCH 

			
	
		
	By:	 	

		 	
		 	

  
 Signature page to the
Amendment AgreementEX-10.1

 Exhibit 10.1 

AGREEMENT OF LIMITED PARTNERSHIP 

OF 
 ESSENTIAL PROPERTIES, L.P.

 a Delaware limited partnership 

THE SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE
SECURITIES LAWS OF ANY STATE AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION, UNLESS THE TRANSFEROR DELIVERS TO THE PARTNERSHIP AN OPINION OF COUNSEL, IN FORM AND SUBSTANCE SATISFACTORY TO THE
PARTNERSHIP, TO THE EFFECT THAT THE PROPOSED SALE, TRANSFER OR OTHER DISPOSITION MAY BE EFFECTED WITHOUT REGISTRATION UNDER THE SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES OR “BLUE SKY” LAWS. 

June 25, 2018 

 TABLE OF CONTENTS 

 
  

							
	 	  	Page	 
	ARTICLE 1 GENERAL PROVISIONS	  	 	1	 
			
	Section 1.1.	 	Defined Terms	  	 	1	 
	Section 1.2.	 	Interpretation	  	 	14	 
		
	ARTICLE 2 ORGANIZATIONAL MATTERS	  	 	15	 
			
	Section 2.1.	 	Continuation	  	 	15	 
	Section 2.2.	 	Name	  	 	15	 
	Section 2.3.	 	Registered Office and Agent; Principal Office	  	 	15	 
	Section 2.4.	 	Power of Attorney	  	 	15	 
	Section 2.5.	 	Term	  	 	16	 
	Section 2.6.	 	Admission of Limited Partners	  	 	17	 
	Section 2.7.	 	U.S. Tax Classification	  	 	17	 
	Section 2.8.	 	Not Publicly Traded for Tax Purposes	  	 	17	 
		
	ARTICLE 3 PURPOSE	  	 	17	 
			
	Section 3.1.	 	Purpose and Business	  	 	17	 
	Section 3.2.	 	Powers	  	 	18	 
	Section 3.3.	 	Representations and Warranties by the Parties	  	 	18	 
		
	ARTICLE 4 CAPITAL CONTRIBUTIONS	  	 	19	 
			
	Section 4.1.	 	Capital Contributions of the Partners	  	 	19	 
	Section 4.2.	 	Issuances of Additional Partnership Interests	  	 	20	 
	Section 4.3.	 	Contribution of Proceeds of Issuance of Securities by the Company	  	 	23	 
	Section 4.4.	 	Additional Funds	  	 	23	 
	Section 4.5.	 	Preemptive Rights	  	 	24	 
		
	ARTICLE 5 DISTRIBUTIONS	  	 	24	 
			
	Section 5.1.	 	Priority and Timing of Distributions of Available Cash	  	 	24	 
	Section 5.2.	 	Amounts Withheld	  	 	25	 
	Section 5.3.	 	Distributions Upon Liquidation	  	 	25	 
	Section 5.4.	 	Restrictions on Distributions	  	 	25	 
	Section 5.5.	 	Compliance with REIT Requirements	  	 	25	 
		
	ARTICLE 6 ALLOCATIONS	  	 	26	 
			
	Section 6.1.	 	Allocations For Capital Account Purposes	  	 	26	 
	Section 6.2.	 	Economic Capital Account Balances of LTIP Unitholders	  	 	26	 

							
	ARTICLE 7 MANAGEMENT AND OPERATIONS OF BUSINESS	  	 	27	 
			
	Section 7.1.	 	Management	  	 	27	 
	Section 7.2.	 	Certificate of Limited Partnership	  	 	30	 
	Section 7.3.	 	Restrictions on General Partner Authority	  	 	31	 
	Section 7.4.	 	Reimbursement of the General Partner and the Company	  	 	31	 
	Section 7.5.	 	Outside Activities of the General Partner	  	 	31	 
	Section 7.6.	 	Contracts with Affiliates	  	 	32	 
	Section 7.7.	 	Indemnification	  	 	32	 
	Section 7.8.	 	Liability of the General Partner	  	 	34	 
	Section 7.9.	 	Other Matters Concerning the General Partner	  	 	35	 
	Section 7.10.	 	Title to Partnership Assets	  	 	36	 
	Section 7.11.	 	Reliance by Third Parties	  	 	36	 
	Section 7.12.	 	Partner Approval for Extraordinary Transactions	  	 	37	 
		
	ARTICLE 8 RIGHTS AND OBLIGATIONS OF LIMITED PARTNERS	  	 	38	 
			
	Section 8.1.	 	Limitation of Liability	  	 	38	 
	Section 8.2.	 	Management of Business	  	 	38	 
	Section 8.3.	 	Outside Activities of Limited Partners	  	 	38	 
	Section 8.4.	 	Return of Capital	  	 	38	 
	Section 8.5.	 	Rights of Limited Partners Relating to the Partnership	  	 	39	 
	Section 8.6.	 	Redemption Right	  	 	39	 
	Section 8.7.	 	Conversion of LTIP Units	  	 	41	 
	Section 8.8.	 	Voting Rights of LTIP Units	  	 	44	 
		
	ARTICLE 9 BOOKS, RECORDS, ACCOUNTING AND REPORTS	  	 	44	 
			
	Section 9.1.	 	Records and Accounting	  	 	44	 
	Section 9.2.	 	Fiscal Year	  	 	44	 
	Section 9.3.	 	Reports	  	 	45	 
		
	ARTICLE 10 CERTAIN TAX MATTERS	  	 	45	 
			
	Section 10.1.	 	Preparation of Tax Returns	  	 	45	 
	Section 10.2.	 	Tax Elections	  	 	45	 
	Section 10.3.	 	Partnership Representative	  	 	46	 
	Section 10.4.	 	Section 83 Safe Harbor Election	  	 	47	 
	Section 10.5.	 	Withholding	  	 	48	 
		
	ARTICLE 11 TRANSFERS AND WITHDRAWALS	  	 	49	 
			
	Section 11.1.	 	Transfer	  	 	49	 
	Section 11.2.	 	Transfer of General Partner Interest and Limited Partner Interest	  	 	49	 
	Section 11.3.	 	Limited Partners’ Rights to Transfer	  	 	51	 
	Section 11.4.	 	Substituted Limited Partners	  	 	52	 

							
	 Section 11.5.
	 	 Assignees
	  	 	53	 
	 Section 11.6.
	 	 General Provisions
	  	 	53	 
		
	ARTICLE 12 ADMISSION OF PARTNERS	  	 	54	 
			
	 Section 12.1.
	 	 Admission of Successor General Partner
	  	 	54	 
	 Section 12.2.
	 	 Admission of Additional Limited Partners
	  	 	54	 
	 Section 12.3.
	 	 Amendment of Agreement and Certificate of Limited Partnership
	  	 	55	 
		
	ARTICLE 13 DISSOLUTION, LIQUIDATION AND TERMINATION	  	 	55	 
			
	 Section 13.1.
	 	 Dissolution
	  	 	55	 
	 Section 13.2.
	 	 Winding Up
	  	 	56	 
	 Section 13.3.
	 	 Compliance with Timing Requirements of Regulations
	  	 	57	 
	 Section 13.4.
	 	 Deemed Contribution and Distribution
	  	 	58	 
	 Section 13.5.
	 	 Rights of Limited Partners
	  	 	58	 
	 Section 13.6.
	 	 Notice of Dissolution
	  	 	58	 
	 Section 13.7.
	 	 Termination of Partnership and Cancellation of Certificate of Limited Partnership
	  	 	58	 
	 Section 13.8.
	 	 Reasonable Time for Winding Up
	  	 	58	 
	 Section 13.9.
	 	 Waiver of Partition
	  	 	59	 
		
	ARTICLE 14 AMENDMENT OF PARTNERSHIP AGREEMENT; MEETINGS	  	 	59	 
			
	 Section 14.1.
	 	 Amendment of Partnership Agreement
	  	 	59	 
	 Section 14.2.
	 	 Meetings of the Partners
	  	 	60	 
		
	ARTICLE 15 GENERAL PROVISIONS	  	 	61	 
			
	 Section 15.1.
	 	 Addresses and Notice
	  	 	61	 
	 Section 15.2.
	 	 Further Action
	  	 	61	 
	 Section 15.3.
	 	 Binding Effect
	  	 	61	 
	 Section 15.4.
	 	 Creditors
	  	 	61	 
	 Section 15.5.
	 	 Waiver
	  	 	62	 
	 Section 15.6.
	 	 Counterparts
	  	 	62	 
	 Section 15.7.
	 	 Applicable Law
	  	 	62	 
	 Section 15.8.
	 	 Invalidity of Provisions
	  	 	62	 
	 Section 15.9.
	 	 Entire Agreement
	  	 	62	 

 EXHIBITS 
  

	
	Exhibit A – Partners’ Contributions and Partnership Interests
	Exhibit B – Capital Account Maintenance
	Exhibit C – Special Allocation Rules
	Exhibit D – Notice of Redemption
	Exhibit E – Constructive Ownership Definition
	Exhibit F – Conversion Notice
	Exhibit G – Forced Conversion Notice
	Exhibit H – Schedule of Partners’ Ownership with Respect to Tenants

 AGREEMENT OF LIMITED PARTNERSHIP 

OF 
 ESSENTIAL PROPERTIES, L.P. 

THIS AGREEMENT OF LIMITED PARTNERSHIP OF ESSENTIAL PROPERTIES, L.P. (this “Agreement”), dated as of June 25, 2018, is
entered into by and among Essential Properties OP G.P., LLC, a Delaware limited liability company (the “General Partner”), and the Persons (as defined below) that are party hereto from time to time and whose names are set forth on
Exhibit A as attached hereto (as it may be amended from time to time). 
 WHEREAS, the limited partnership was formed on
June 20, 2018, following the conversion of Essential Properties Realty Trust LLC, a Delaware limited liability company, into a Delaware limited partnership; 

WHEREAS, the General Partner and Essential Properties Realty Trust, Inc., a Maryland corporation (the “Company”), EPRT
Holdings, LLC, a Delaware limited liability company, and Security Benefit Life Insurance Company, a Kansas stock insurance company, as the initial limited partners (collectively, the “Initial Limited Partners”), desire to enter into
this Agreement of Limited Partnership of Essential Properties, L.P. (the “Partnership”); and 
 WHEREAS, the General
Partner and the Initial Limited Partners have made, and the Initial Limited Partners will make certain additional, capital contributions to the Partnership as set forth on Exhibit A attached hereto; 

NOW THEREFORE, in consideration of the mutual covenants herein contained, and other valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties hereto hereby agree as follows: 
 ARTICLE 1 

GENERAL PROVISIONS 

Section 1.1. Defined Terms 

The following definitions shall be for all purposes, unless otherwise clearly indicated to the contrary, applied to the terms used in this
Agreement. 
 “704(c) Value” of any Contributed Property means the fair market value of such property or other
consideration at the time of contribution, as determined by the General Partner using such reasonable method of valuation as it may adopt. Subject to Exhibit B, the General Partner shall, in its sole and absolute discretion, use such method
as it deems reasonable and appropriate to allocate the aggregate of the 704(c) Values of Contributed Properties in a single or integrated transaction among the separate properties on a basis proportional to their respective fair market values. 

“Act” means the Delaware Revised Uniform Limited Partnership Act, 6 Del. C.
§17-101, et seq., as it may be amended from time to time, and any successor to such statute. 

 “Actions” has the meaning set forth in Section 7.7(a).

 “Additional Funds” has the meaning set forth in Section 4.4(a). 

“Additional Limited Partner” means a Person admitted to the Partnership as a Limited Partner pursuant to
Section 12.2 and who is shown as such on the books and records of the Partnership. 
 “Adjusted Capital
Account” means the Capital Account maintained for each Partner as of the end of each Partnership taxable year (i) increased by any amounts which such Partner is obligated to restore pursuant to any provision of this Agreement or is
deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) and (ii) decreased by the items
described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5), and 1.704-1(b)(2)(ii)(d)(6). The foregoing
definition of Adjusted Capital Account is intended to comply with the provisions of Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith. 

“Adjusted Capital Account Deficit” means, with respect to any Partner, the deficit balance, if any, in such Partner’s
Adjusted Capital Account as of the end of the relevant Partnership taxable year. 
 “Adjusted Property” means any property,
the Carrying Value of which has been adjusted pursuant to Exhibit B. 
 “Adjustment Event” means any of the
following events: (A) the Partnership makes a distribution on all outstanding Partnership Units in Partnership Units, (B) the Partnership subdivides the outstanding Partnership Units into a greater number of Partnership Units or combines
the outstanding Partnership Units into a smaller number of Partnership Units, or (C) the Partnership issues any Partnership Units in exchange for its outstanding Partnership Units by way of a reclassification or recapitalization of its
Partnership Units. If more than one Adjustment Event occurs, the adjustment to the LTIP Units under Section 4.2(c) need be made only once using a single formula that takes into account each and every Adjustment Event as if
all Adjustment Events occurred simultaneously. For the avoidance of doubt, the following shall not be Adjustment Events: (x) the issuance of Partnership Units in a financing, reorganization, acquisition or other similar business transaction,
(y) the issuance of Partnership Units pursuant to the Plan, or any employee benefit or compensation plan or distribution reinvestment plan, or (z) the issuance of any Partnership Units to the Company in respect of a capital contribution to
the Partnership of proceeds from the sale of securities by the Company. 
 “Affiliate” means, with respect to any Person,
(i) any Person directly or indirectly controlling, controlled by or under common control with such Person; (ii) any Person owning or controlling ten percent (10%) or more of the outstanding voting interests of such Person; (iii) any
Person of which such Person owns or controls ten percent (10%) or more of the voting interests; or (iv) any officer, director, general partner or trustee of such Person or of any Person referred to in clauses (i), (ii), or (iii) above.

  
 2 

 “Agreed Value” means (i) in the case of any Contributed Property as of the
time of its contribution to the Partnership, the 704(c) Value of such property, reduced by any liabilities either assumed by the Partnership upon such contribution or to which such property is subject when contributed, and (ii) in the case of
any property distributed to a Partner by the Partnership, the Partnership’s Carrying Value of such property at the time such property is distributed, reduced by any indebtedness either assumed by such Partner upon such distribution or to which
such property is subject at the time of distribution as determined under Code Section 752 and the Regulations thereunder. 

“Agreement” means this Agreement of Limited Partnership of the Partnership, as it may be amended, supplemented or restated
from time to time. 
 “Articles of Incorporation” means the Amended and Restated Articles of Incorporation of the Company
dated June 19, 2018, as amended. 
 “Assignee” means a Person to whom all or a portion of a Partnership Interest has
been transferred in a manner permitted under this Agreement, but who has not become a Substituted Limited Partner, and who has the rights set forth in Section 11.5. 

“Available Cash” means, with respect to any period for which such calculation is being made, 

(i) the sum of: 
 (a) the
Partnership’s Net Income or Net Loss (as the case may be) for such period (without regard to adjustments resulting from allocations described in Sections 1(a) through 1(e) of Exhibit C); 

(b) Depreciation and all other noncash charges deducted in determining Net Income or Net Loss for such period; 

(c) the amount of any reduction in the reserves of the Partnership referred to in clause (ii)(f) below (including reductions resulting because
the General Partner determines such amounts are no longer necessary); 
 (d) the excess of proceeds from the sale, exchange, disposition, or
refinancing of Partnership property for such period over the gain recognized from such sale, exchange, disposition, or refinancing during such period (excluding Terminating Capital Transactions); and 

(e) all other cash received by the Partnership for such period that was not included in determining Net Income or Net Loss for such period;

 (ii) less the sum of: 
 (a)
all principal debt payments made by the Partnership during such period; 
 (b) capital expenditures made by the Partnership during such
period; 

  
 3 

 (c) investments made by the Partnership during such period in any entity (including loans made
thereto) to the extent that such investments are not otherwise described in clause (ii)(a) or (ii)(b); 
 (d) all other
expenditures and payments not deducted in determining Net Income or Net Loss for such period; 
 (e) any amount included in determining Net
Income or Net Loss for such period that was not received by the Partnership during such period; 
 (f) the amount of any increase in reserves
during such period which the General Partner determines to be necessary or appropriate in its sole and absolute discretion; and 
 (g) the
amount of any working capital accounts and other cash or similar balances which the General Partner determines to be necessary or appropriate, in its sole and absolute discretion. 

Notwithstanding the foregoing, Available Cash shall not include any cash received or reductions in reserves, or take into account any
disbursements made or reserves established, after commencement of the dissolution and liquidation of the Partnership. 
 “Board of
Directors” means the Board of Directors of the Company. 
 “Book-Tax
Disparities” means, with respect to any item of Contributed Property or Adjusted Property, as of the date of any determination, the difference between the Carrying Value of such Contributed Property or Adjusted Property and the adjusted
basis thereof for federal income tax purposes as of such date. A Partner’s share of the Partnership’s Book-Tax Disparities in all of its Contributed Property and Adjusted Property will be reflected
by the difference between such Partner’s Capital Account balance as maintained pursuant to Exhibit B and the hypothetical balance of such Partner’s Capital Account computed as if it had been maintained strictly in
accordance with federal income tax accounting principles. 
 “Business Day” means any day except a Saturday, Sunday or
other day on which commercial banks in New York, New York are authorized or required by law to close. 
 “Capital Account”
means the Capital Account maintained for a Partner pursuant to Exhibit B. 
 “Capital Account Limitation” has the
meaning set forth in Section 8.7(b). 
 “Capital Contribution” means, with respect to any
Partner, any cash, cash equivalents or the Agreed Value of Contributed Property which such Partner contributes or is deemed to contribute to the Partnership pursuant to Section 4.1, 4.2, or 4.3. 

“Carrying Value” means (i) with respect to a Contributed Property or Adjusted Property, the 704(c) Value of such
property, reduced (but not below zero) by all Depreciation with respect to such property charged to the Partners’ Capital Accounts following the contribution of or adjustment with respect to such property; and (ii) with respect to any
other Partnership property, 

  
 4 

 
the adjusted basis of such property for federal income tax purposes, all as of the time of determination. The Carrying Value of any property shall be adjusted from time to time in accordance with
Exhibit B, and to reflect changes, additions or other adjustments to the Carrying Value for dispositions and acquisitions of Partnership properties, as deemed appropriate by the General Partner. 

“Cash Amount” means an amount of cash per Partnership Unit equal to the Value on the Valuation Date of the REIT Shares
Amount. 
 “Certificate” means the Certificate of Limited Partnership of the Partnership as filed in the office of the
Delaware Secretary of State on June 20, 2018, as amended and/or restated from time to time in accordance with the terms hereof and the Act. 

“Code” means the Internal Revenue Code of 1986, as amended and in effect from time to time, as interpreted by the applicable
regulations thereunder. Any reference herein to a specific section or sections of the Code shall be deemed to include a reference to any corresponding provision of future law. 

“Common Units” means the Partnership Units other than any series of units of limited partnership interest issued in the
future and designated as preferred or otherwise different from the Common Units, including with respect to the payment of distributions, including distributions upon liquidation. 

“Company” means Essential Properties Realty Trust, Inc., a Maryland corporation. 

“Compensation Committee” means the Compensation Committee of the Company, or if no such committee exists, the Board of
Directors. 
 “Concurrent Offering” means the private placement of REIT Shares pursuant to that certain Purchase Agreement
among the Company and the other parties named therein. 
 “Consent” means the consent or approval of a proposed action by a
Partner given in accordance with Section 14.2. 
 “Constituent Person” has the meaning set forth
in Section 8.7(g). 
 “Constructively Own” means ownership under the constructive ownership rules
described in Exhibit E. 
 “Contributed Property” means each property or other asset, in such form as may be
permitted by the Act (but excluding cash), contributed or deemed contributed to the Partnership. Once the Carrying Value of a Contributed Property is adjusted pursuant to Exhibit B, such property shall no longer constitute a Contributed
Property for purposes of Exhibit B, but shall be deemed an Adjusted Property for such purposes. 
 “Conversion Date”
has the meaning set forth in Section 8.7(b). 

  
 5 

 “Conversion Factor” means 1.0, subject to adjustment as follows: (i) in
case the Company shall (A) make a distribution on the outstanding REIT Shares in REIT Shares, (B) subdivide or reclassify the outstanding REIT Shares into a greater number of REIT Shares, or (C) combine or reclassify the outstanding
REIT Shares into a smaller number of REIT Shares, the Conversion Factor in effect at the opening of business on the day following the date fixed for the determination of shareholders entitled to receive such distribution or subject to such
subdivision, combination or reclassification shall be proportionately adjusted so that a holder of Partnership Units shall be entitled to receive, upon exchange thereof, the number of REIT Shares which the holder would have owned at the opening of
business on the day following the date fixed for such determination had such Partnership Units been exchanged immediately prior to such determination; (ii) in case the Partnership shall subdivide or reclassify the outstanding Partnership Units
into a greater number of Partnership Units, the Conversion Factor in effect at the opening of business on the day following the date fixed for the determination of Partnership Unit holders subject to such subdivision or reclassification shall be
proportionately adjusted so that a holder of Partnership Units shall be entitled to receive, upon exchange thereof, the number of REIT Shares which the holder would have owned at the opening of business on the day following the date fixed for such
determination had such Partnership Units been exchanged immediately prior to such determination; (iii) in case the Company (A) shall issue rights or warrants to all holders of REIT Shares entitling them to subscribe for or purchase REIT
Shares at a price per share less than the daily market price per REIT Share on the date fixed for the determination of shareholders entitled to receive such rights or warrants, (B) shall not issue similar rights or warrants to all holders of
Partnership Units entitling them to subscribe for or purchase REIT Shares or Partnership Units at a comparable price (determined, in the case of Partnership Units, by reference to the Conversion Factor), and (C) cannot issue such rights or
warrants to a Redeeming Partner as otherwise required by the definition of “REIT Shares Amount” set forth in this Article 1, then the Conversion Factor in effect at the opening of business on the day following the
date fixed for such determination shall be increased by multiplying such Conversion Factor by a fraction of which the numerator shall be the number of REIT Shares outstanding at the close of business on the date fixed for such determination plus the
maximum number of REIT Shares so offered for subscription or purchase, and of which the denominator shall be the number of REIT Shares outstanding at the close of business on the date fixed for such determination plus the number of REIT Shares which
the aggregate offering price of the total number of REIT Shares so offered for subscription would purchase at such daily market price per share, such increase of the Conversion Factor to become effective immediately after the opening of business on
the day following the date fixed for such determination; and (iv) in case the Company shall, by distribution or otherwise, distribute to all holders of its REIT Shares, (A) capital shares of any class other than its REIT Shares,
(B) evidence of its indebtedness or (C) assets (excluding any rights or warrants referred to in clause (iii) above, any cash distribution lawfully paid under the laws of the state of organization of the Company, and any distribution
referred to in clause (i) above) and shall not cause a corresponding distribution to be made to all holders of Partnership Units, the Conversion Factor shall be adjusted so that the same shall equal the ratio determined by multiplying the
Conversion Factor in effect immediately prior to the close of business on the date fixed for the determination of shareholders entitled to receive such distribution by a fraction of which the numerator shall be the daily market price per REIT Share
on the date fixed for such determination, and of which the denominator shall be such daily market price per REIT Share less the fair market value (as 

  
 6 

 
determined by the Board of Directors, whose determination shall be conclusive and described in a Board resolution certified by the Secretary of the Company and delivered to the holders of the
Partnership Units) of the portion of the capital shares or evidences of indebtedness or assets so distributed applicable to one REIT Share, such adjustment to become effective immediately prior to the opening of business on the day following the
date fixed for the determination of shareholders entitled to receive such distribution. 
 “Conversion Notice” has the
meaning set forth in Section 8.7(b). 
 “Conversion Right” has the meaning set forth in
Section 8.7(a). 
 “Covered Person” has the meaning set forth in
Section 7.8(a). 
 “Debt” means, as to any Person, as of any date of determination, (i) all
indebtedness of such Person for borrowed money or for the deferred purchase price of property or services, (ii) all amounts owed by such Person to banks or other Persons in respect of reimbursement obligations under letters of credit, surety
bonds and other similar instruments guaranteeing payment or other performance of obligations by such Person, (iii) all indebtedness for borrowed money or for the deferred purchase price of property or services secured by any lien on any
property owned by such Person, to the extent attributable to such Person’s interest in such property, even though such Person has not assumed or become liable for the payment thereof, and (iv) obligations of such Person incurred in
connection with entering into a lease which, in accordance with GAAP, should be capitalized. 
 “Depreciation” means, for
each taxable year, an amount equal to the federal income tax depreciation, amortization, or other cost recovery deduction allowable with respect to an asset for such year, except that if the Carrying Value of an asset differs from its adjusted basis
for federal income tax purposes at the beginning of such year or other period, Depreciation shall be an amount which bears the same ratio to such beginning Carrying Value as the federal income tax depreciation, amortization, or other cost recovery
deduction for such year bears to such beginning adjusted tax basis; provided, however, that if the federal income tax depreciation, amortization, or other cost recovery deduction for such year is zero, Depreciation shall be determined
with reference to such beginning Carrying Value using any reasonable method selected by the General Partner. 
 “Distribution
Payment Date” means the dates upon which the General Partner makes distributions in accordance with Section 5.1. 

“Economic Capital Account Balances” has the meaning set forth in Section 6.1(c). 

“Eldridge” means Eldridge Industries, LLC and its Affiliates. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended and in effect from time to time, as interpreted
by the applicable regulations thereunder. Any reference herein to a specific section or Title of ERISA shall be deemed to include a reference to any corresponding provision of future law. 

“Event of Bankruptcy” has the meaning set forth in Section 13.1(g). 

  
 7 

 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“final adjustment” has the meaning set forth in Section 10.3(b). 

“Forced Conversion” has the meaning set forth in Section 8.7(c). 

“Forced Conversion Notice” has the meaning set forth in Section 8.7(d). 

“Funding Debt” means any Debt incurred by or on behalf of the General Partner for the purpose of providing funds to the
Partnership. 
 “GAAP” means U.S. generally accepted accounting principles. 

“General Partner” means Essential Properties OP G.P., LLC, a wholly-owned subsidiary of the Company, or any Person who
becomes an additional or a successor general partner of the Partnership. 
 “General Partner Interest” means a Partnership
Interest held by the General Partner, in its capacity as general partner of the Partnership. A General Partner Interest may be (but is not required to be) expressed as a number of Partnership Units. 

“IRS” means the Internal Revenue Service, which administers the internal revenue laws of the United States. 

“Incapacity” or “Incapacitated” means, (i) as to any individual Partner, death, total physical
disability or entry by a court of competent jurisdiction adjudicating him incompetent to manage his Person or his estate; (ii) as to any corporation which is a Partner, the filing of a certificate of dissolution, or its equivalent, for the
corporation or the revocation of its charter; (iii) as to any partnership or limited liability company which is a Partner, the dissolution and commencement of winding up of the partnership; (iv) as to any estate which is a Partner, the
distribution by the fiduciary of the estate’s entire interest in the Partnership; (v) as to any trustee of a trust which is a Partner, the termination of the trust (but not the substitution of a new trustee); or (vi) as to any
Partner, the bankruptcy of such Partner. For purposes of this definition, bankruptcy of a Partner shall be deemed to have occurred when (a) the Partner commences a voluntary proceeding seeking liquidation, reorganization or other relief under
any bankruptcy, insolvency or other similar law now or hereafter in effect; (b) the Partner is adjudged as bankrupt or insolvent, or a final and non-appealable order for relief under any bankruptcy,
insolvency or similar law now or hereafter in effect has been entered against the Partner; (c) the Partner executes and delivers a general assignment for the benefit of the Partner’s creditors; (d) the Partner files an answer or other
pleading admitting or failing to contest the material allegations of a petition filed against the Partner in any proceeding of the nature described in clause (b) above; (e) the Partner seeks, consents to or acquiesces in the appointment of a
trustee, receiver or liquidator for the Partner or for all or any substantial part of the Partner’s properties; (f) any proceeding seeking liquidation, reorganization or other relief of or against such Partner under any bankruptcy,
insolvency or other similar law now or hereafter in effect has not been dismissed within one hundred twenty (120) days after the commencement thereof; (g) the appointment without the Partner’s consent or acquiescence of a trustee,
receiver or liquidator has not been vacated or stayed within ninety (90) days of such appointment; or (h) an appointment referred to in clause (g) which has been stayed is not vacated within ninety (90) days after the expiration
of any such stay. 

  
 8 

 “Indemnitee” means (i) any Person made a party to a proceeding by reason of
(A) his or its status as the General Partner, or as a trustee, director, officer, shareholder, partner, member, employee, representative or agent of the General Partner or of an Affiliate of the General Partner or as an officer, employee,
representative or agent of the Partnership, or (B) his or its liabilities, pursuant to a loan guarantee or otherwise, for any indebtedness of the Partnership or any Subsidiary of the Partnership (including any indebtedness which the Partnership
or any Subsidiary of the Partnership has assumed or taken assets subject to); and (ii) such other Persons (including Affiliates of the General Partner or the Partnership) as the General Partner may designate from time to time (whether before or
after the event giving rise to potential liability), in its sole and absolute discretion. 
 “Initial Eldridge Partnership Unit
Transactions” means (i) the Partnership Units held by EPRT Holdings, LLC following the conversion of Essential Properties Realty Trust LLC into a Delaware limited partnership and (ii) the Partnership Units purchased by Eldridge in
a private placement of Partnership Units concurrent with the Initial Public Offering. 
 “Initial Limited Partners” means
each of the Company, EPRT Holdings, LLC, a Delaware limited liability company, and Security Benefit Life Insurance Company, a Kansas stock insurance company. 

“Initial Public Offering” means the initial public offering of REIT Shares under the Securities Act pursuant to that certain
underwriting agreement, dated June 20, 2018 among the Company, the Partnership and Goldman Sachs & Co. LLC and Citigroup Global Markets Inc., as representatives of the underwriters named therein. 

“Limited Partner” means the Initial Limited Partners and any other Person named as a limited partner of the Partnership in
Exhibit A attached hereto, as such Exhibit may be amended from time to time, or any Substituted Limited Partner or Additional Limited Partner, in such Person’s capacity as a limited partner of the Partnership. For purposes of this
Agreement and the Act, the Limited Partners shall constitute a single class or group of limited partners. 
 “Limited Partner
Interest” means a Partnership Interest of a Limited Partner in the Partnership representing a fractional part of the Partnership Interests of all Partners and includes any and all benefits to which the holder of such a Partnership Interest
may be entitled, as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Limited Partner Interest may be (but is not required to be) expressed as a number of
Partnership Units. 
 “Liquidating Event” has the meaning set forth in Section 13.1. 

“Liquidator” has the meaning set forth in Section 13.2. 

“LTIP Unit” means a Partnership Unit which is designated as an LTIP Unit and which has the rights, preferences and other
privileges designated in Section 4.2(c) and in the Plan in respect of LTIP Unitholders. The allocation of LTIP Units among the Partners shall be set forth on Exhibit A, as may be amended from time to time. 

  
 9 

 “LTIP Unit Agreement” means each or any, as the context implies, LTIP Unit
Agreement entered into by an LTIP Unitholder upon acceptance of an award of LTIP Units under the Plan (as such agreement may be amended, modified or supplemented from time to time). 

“LTIP Unitholder” means a Partner that holds LTIP Units. 

“Net Income” means, for any taxable period, the excess, if any, of the Partnership’s items of income and gain for such
taxable period over the Partnership’s items of loss and deduction for such taxable period. The items included in the calculation of Net Income shall be determined in accordance with federal income tax accounting principles, subject to the
specific adjustments provided for in Section 1(b) of Exhibit B. 
 “Net Loss” means, for any taxable period,
the excess, if any, of the Partnership’s items of loss and deduction for such taxable period over the Partnership’s items of income and gain for such taxable period. The items included in the calculation of Net Loss shall be determined in
accordance with federal income tax accounting principles, subject to the specific adjustments provided for in Section 1(b) of Exhibit B. 

“New Securities” has the meaning set forth in Section 4.2(b). 

“Nonrecourse Deductions” has the meaning set forth in Regulations
Section 1.704-2(b)(1), and the amount of Nonrecourse Deductions for a Partnership taxable year shall be determined in accordance with the rules of Regulations
Section 1.704-2(c). 
 “Nonrecourse Liability” has the meaning set forth in
Regulations Section 1.752-1(a)(2). 
 “Notice of Redemption” means the Notice
of Redemption substantially in the form of Exhibit D to this Agreement. 
 “Partner” means a General Partner or a
Limited Partner, and “Partners” means the General Partner and the Limited Partners collectively. 
 “Partner
Approval” shall be deemed to have been obtained when the sum of (i) the Partnership Units issued in the Initial Eldridge Partnership Unit Transactions set forth in Exhibit A and consenting to the transaction that are held
directly or indirectly by Eldridge and EPRT Holdings, LLC, plus (ii) the product of (a) the Partnership Units held by the Company and its Subsidiaries multiplied by (b) the percentage of the votes that were cast in favor of the
transaction by the Company’s common stockholders out of the total votes entitled to be cast by the Company’s common stockholders, exceeds 50% of the aggregate number of Partnership Units issued in the Initial Eldridge Partnership Unit
Transactions set forth in Exhibit A attached hereto and Partnership Units held by the Company and its Subsidiaries outstanding at such time. 

“Partner Minimum Gain” means an amount, with respect to each Partner Nonrecourse Debt, equal to the Partnership Minimum Gain
that would result if such Partner Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Regulations Section 1.704-2(i)(3). 

  
 10 

 “Partner Nonrecourse Debt” has the meaning set forth in Regulations Section 1.704-2(b)(4). 
 “Partner Nonrecourse Deductions” has the meaning set forth
in Regulations Section 1.704-2(i)(2), and the amount of Partner Nonrecourse Deductions with respect to a Partner Nonrecourse Debt for a Partnership taxable year shall be determined in accordance with the
rules of Regulations Section 1.704-2(i)(2). 
 “Partnership” means the limited
partnership heretofore formed and continued under the Act and pursuant to this Agreement, and any successor thereto. 
 “Partnership
Interest” means an ownership interest in the Partnership held by either a Limited Partner or the General Partner and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this
Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Partnership Interest may be (but is not required to be) expressed as a number of Partnership Units. 

“Partnership Minimum Gain” has the meaning set forth in Regulations
Section 1.704-2(b)(2), and the amount of Partnership Minimum Gain, as well as any net increase or decrease in a Partnership Minimum Gain, for a Partnership taxable year shall be determined in accordance
with the rules of Regulations Section 1.704-2(d). 
 “Partnership Record Date”
means the record date established by the General Partner for the distribution of Available Cash pursuant to Section 5.1, which record date shall be the same as the record date established by the Company for a distribution
to its shareholders of some or all of its portion of such distribution. 
 “Partnership Unit” means a fractional, undivided
share of the Partnership Interests of all Partners issued pursuant to Sections 4.1, 4.2 and 4.3. The number of Partnership Units outstanding and the Percentage Interest in the Partnership represented by such Units are set forth
in Exhibit A attached hereto, as such Exhibit may be amended from time to time. The ownership of Partnership Units shall be evidenced by such form of certificate for units as the General Partner adopts from time to time unless the
General Partner determines that the Partnership Units shall be uncertificated securities. 
 “Partnership Unit Economic
Balance” has the meaning set forth in Section 6.1(c). 
 “Partnership Year” means the
fiscal year of the Partnership, which shall be the calendar year. 
 “Percentage Interest” means, as to a Partner, its
interest in the Partnership as determined by dividing the Partnership Units owned by such Partner by the total number of Partnership Units then outstanding and as specified in Exhibit A attached hereto, as such Exhibit may be amended
from time to time. 

  
 11 

 “Person” means an individual or a real estate investment trust, corporation,
partnership, limited liability company, trust, unincorporated organization, association or other entity. 
 “Plan” means
the Essential Properties Realty Trust, Inc. and Essential Properties, L.P. 2018 Incentive Award Plan, as such plan may be amended from time to time, or any similar plan as may be adopted by the Company from time to time. 

“Qualified REIT Subsidiary” means a qualified REIT subsidiary of the Company within the meaning of Code
Section 856(i)(2). 
 “Recapture Income” means any gain recognized by the Partnership upon the disposition of any
property or asset of the Partnership, which gain is characterized as ordinary income because it represents the recapture of deductions previously taken with respect to such property or asset. 

“Redeeming Partner” has the meaning set forth in Section 8.6(a). 

“Redemption Right” shall have the meaning set forth in Section 8.6(a). 

“Regulations” means the Income Tax Regulations promulgated under the Code, as such regulations may be amended from time to
time (including corresponding provisions of succeeding regulations). 
 “REIT” means a real estate investment trust under
Code Section 856. 
 “REIT Share” means a share of common stock, $0.01 par value per share, of the Company. 

“REIT Shares Amount” means a number of REIT Shares equal to the product of the number of Partnership Units offered for
redemption by a Redeeming Partner, multiplied by the Conversion Factor; provided, that in the event the Company issues to all holders of REIT Shares rights, options, warrants or convertible or exchangeable securities entitling the
shareholders to subscribe for or purchase REIT Shares, or any other securities or property (collectively, the “rights”), and the Company can issue such rights to the Redeeming Partner, then the REIT Shares Amount shall also include
such rights that a holder of that number of REIT Shares would be entitled to receive. 
 “REIT Share Offering” means a
primary offering by the Company of its REIT Shares, including the Initial Public Offering, the Concurrent Offering and any other offerings. 

“Residual Gain” or “Residual Loss” means any item of gain or loss, as the case may be, of the Partnership
recognized for federal income tax purposes resulting from a sale, exchange or other disposition of Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 2(b)(1)(a) or 2(b)(2)(a)
of Exhibit C to eliminate Book-Tax Disparities. 
 “Section 83
Safe Harbor” has the meaning set forth in Section 10.4. 

  
 12 

 “Securities Act” means the Securities Act of 1933, as amended. 

“Specified Redemption Date” means the tenth (10th) Business Day after receipt by the Partnership of a Notice of Redemption;
provided, that if the Company combines its outstanding REIT Shares, no Specified Redemption Date shall occur after the record date of such combination of REIT Shares and prior to the effective date of such combination. 

“Subsidiary” means, with respect to any Person, any real estate investment trust, corporation, partnership, limited liability
company or other entity of which a majority of (i) the voting power of the voting equity securities; or (ii) the outstanding equity interests, is owned, directly or indirectly, by such Person. 

“Substituted Limited Partner” means a Person who is admitted as a Limited Partner to the Partnership pursuant to
Section 11.4. 
 “Surviving Partnership” has the meaning set forth in
Section 11.2(c)(ii). 
 “Tenant” means any tenant from which the Company derives rent either
directly or indirectly through partnerships or limited liability companies, including the Partnership. 
 “Terminating Capital
Transaction” means any sale or other disposition of all or substantially all of the assets of the Partnership or a related series of transactions that, taken together, result in the sale or other disposition of all or substantially all of
the assets of the Partnership. 
 “Termination Transaction” has the meaning set forth in
Section 11.2(c). 
 “Transaction” has the meaning set forth in
Section 8.7(g). 
 “Trading Days” means days on which the primary trading market for REIT Shares,
if any, is open for trading. 
 “Unrealized Gain” attributable to any item of Partnership property means, as of any date of
determination, the excess, if any, of (i) the fair market value of such property (as determined under Exhibit B) as of such date; over (ii) the Carrying Value of such property (prior to any adjustment to be made pursuant to
Exhibit B) as of such date. 
 “Unrealized Loss” attributable to any item of Partnership property means, as of any
date of determination, the excess, if any, of (i) the Carrying Value of such property (prior to any adjustment to be made pursuant to Exhibit B) as of such date; over (ii) the fair market value of such property (as determined under
Exhibit B) as of such date. 
 “Unvested LTIP Units” has the meaning set forth in
Section 4.2(c). 
 “Valuation Date” means the date of receipt by the General Partner of a Notice
of Redemption or, if such date is not a Business Day, the first Business Day thereafter. 

  
 13 

 “Value” means, with respect to a REIT Share, the average of the daily market
price for the ten (10) consecutive Trading Days immediately preceding the Valuation Date. The daily market price for each such Trading Day shall be: (i) if the REIT Shares are listed or admitted to trading on any national securities
exchange or the NASDAQ National Market, the closing price on such day, or if no such sale takes place on such day, the average of the closing bid and asked prices on such day; (ii) if the REIT Shares are not listed or admitted to trading on any
national securities exchange or the NASDAQ National Market, the last reported sale price on such day or, if no sale takes place on such day, the average of the closing bid and asked prices on such day, as reported by a reliable quotation source
designated by the General Partner; or (iii) if the REIT Shares are not listed or admitted to trading on any national securities exchange or the NASDAQ National Market and no such last reported sale price or closing bid and asked prices are
available, the average of the reported high bid and low asked prices on such day, as reported by a reliable quotation source designated by the General Partner, or if there shall be no bid and asked prices on such day, the average of the high bid and
low asked prices, as so reported, on the most recent day (not more than ten (10) days prior to the date in question) for which prices have been so reported; provided, that if there are no bid and asked prices reported during the ten
(10) days prior to the date in question, the Value of the REIT Shares shall be determined by the General Partner acting in good faith on the basis of such quotations and other information as it considers, in its reasonable judgment,
appropriate. In the event the REIT Shares Amount includes rights that a holder of REIT Shares would be entitled to receive, then the Value of such rights shall be determined by the General Partner acting in good faith on the basis of such quotations
and other information as it considers, in its reasonable judgment, appropriate. 
 “Vested LTIP Units” has the meaning set
forth in Section 4.2(c). 
 Section 1.2. Interpretation. 

Wherever from the context it appears appropriate, each term stated in either the singular or the plural shall include the singular and the
plural, and pronouns stated in either the masculine or the neuter gender shall include the masculine, the feminine and the neuter. The words “include,” “includes,” and “including” shall be deemed to be followed by the
phrase “without limitation.” The words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of
this Agreement. All references to “clauses,” “Sections” or “Articles” refer to clauses, Sections or Articles of this Agreement. All article or section titles or captions in this Agreement are for convenience only. They
shall not be deemed part of this Agreement and in no way define, limit, extend or describe the scope or intent of any provisions hereof. 

Whenever in this Agreement the General Partner is permitted or required to make a decision (i) in its “sole discretion” or
“discretion,” or under a similar grant of authority or latitude, the General Partner shall be entitled to consider such interests and factors as it desires and may consider its own interests, and shall have no duty or obligation to give
any consideration to any interest of or factors affecting the Partnership or the Limited Partners, or (ii) in its “good faith” or under another express standard, the General Partner shall act under such express standard and shall not
be subject to any other or different standards imposed by this Agreement or by law or any other agreement contemplated herein. 

  
 14 

 ARTICLE 2 

ORGANIZATIONAL MATTERS 

Section 2.1. Continuation 

The Partners hereby continue the Partnership as a limited partnership under and pursuant to the Act. Except as expressly provided herein to
the contrary, the rights and obligations of the Partners and the administration and termination of the Partnership shall be governed by the Act. The Partnership Interest of each Partner shall be personal property for all purposes. 

Section 2.2. Name 

The name of the Partnership heretofore formed and continued hereby shall be Essential Properties, L.P. The Partnership’s business may be
conducted under any other name or names deemed advisable by the General Partner, including the name of the General Partner or any Affiliate thereof. The words “Limited Partnership,” “L.P.,” “Ltd.” or similar words or
letters shall be included in the Partnership’s name where necessary for the purposes of complying with the laws of any jurisdiction that so requires. The General Partner in its sole and absolute discretion may change the name of the Partnership
at any time and from time to time and shall notify the Limited Partners of such change in the next regular communication to the Limited Partners. 

Section 2.3. Registered Office and Agent; Principal Office 

The address of the registered office of the Partnership in the State of Delaware and the name and address of the registered agent for service
of process on the Partnership in the State of Delaware is Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware, 19801. The principal office of the Partnership shall be c/o Essential Properties Realty Trust,
Inc., 47 Hulfish Street, Suite 210, Princeton, NJ 08542, or such other place as the General Partner may from time to time designate by notice to the Limited Partners. The Partnership may maintain offices at such other place or places within or
outside the State of Delaware as the General Partner deems advisable. 
 Section 2.4. Power of Attorney 

(a) Each Limited Partner and each Assignee hereby constitutes and appoints the General Partner, any Liquidator, and authorized officers and attorneys-in-fact of each, and each of those acting singly, in each case with full power of substitution, as its true and lawful agent and attorney-in-fact, with full power and authority in its name, place and stead to: 
 (i) execute,
swear to, acknowledge, deliver, file and record in the appropriate public offices (a) all certificates, documents and other instruments (including this Agreement and the Certificate and all amendments or restatements thereof) that the General
Partner or the Liquidator deems appropriate or necessary to form, qualify or continue the existence or qualification of the Partnership as a limited partnership (or a partnership in which the Limited Partners have limited liability) in the State of
Delaware and in all other jurisdictions in which the Partnership may or plans to conduct business or own property; (b) all instruments that the 

  
 15 

 
General Partner deems appropriate or necessary to reflect any amendment, change, modification or restatement of this Agreement in accordance with its terms; (c) all conveyances and other
instruments or documents that the General Partner or the Liquidator deems appropriate or necessary to reflect the dissolution and liquidation of the Partnership pursuant to the terms of this Agreement, including a certificate of cancellation;
(d) all instruments relating to the admission, withdrawal, removal or substitution of any Partner pursuant to, or other events described in, Article 11, 12 or 13 or the Capital Contribution of any Partner; and (e) all
certificates, documents and other instruments relating to the determination of the rights, preferences and privileges of Partnership Interest; and 

(ii) execute, swear to, seal, acknowledge and file all ballots, consents, approvals, waivers, certificates and other instruments appropriate or
necessary, in the sole and absolute discretion of the General Partner or any Liquidator, to make, evidence, give, confirm or ratify any vote, consent, approval, agreement or other action which is made or given by the Partners hereunder or is
consistent with the terms of this Agreement or appropriate or necessary, in the sole discretion of the General Partner or any Liquidator, to effectuate the terms or intent of this Agreement. 

Nothing contained herein shall be construed as authorizing the General Partner or any Liquidator to amend this Agreement except in accordance with Article
14 or as may be otherwise expressly provided for in this Agreement. 
 (b) The foregoing power of attorney is hereby declared to be
irrevocable and a power coupled with an interest, in recognition of the fact that each of the Partners will be relying upon the power of the General Partner and any Liquidator to act as contemplated by this Agreement in any filing or other action by
it on behalf of the Partnership, and it shall survive and not be affected by the subsequent Incapacity of any Limited Partner or Assignee and the transfer of all or any portion of such Limited Partner’s or Assignee’s Partnership Units and
shall extend to such Limited Partner’s or Assignee’s heirs, successors, assigns and personal representatives. Each such Limited Partner or Assignee hereby agrees to be bound by any representation made by the General Partner or any
Liquidator, acting in good faith pursuant to such power of attorney, and each such Limited Partner or Assignee hereby waives any and all defenses which may be available to contest, negate or disaffirm the action of the General Partner or any
Liquidator, taken in good faith under such power of attorney. Each Limited Partner or Assignee shall execute and deliver to the General Partner or the Liquidator, within fifteen (15) days after receipt of the General Partner’s or
Liquidator’s request therefor, such further designation, powers of attorney and other instruments as the General Partner or the Liquidator, as the case may be, deems necessary to effectuate this Agreement and the purposes of the Partnership.

 Section 2.5. Term 

The term of the Partnership commenced on the date that the Certificate was filed with the Secretary of State of the State of Delaware and
shall continue until December 31, 2118, unless the Partnership is dissolved sooner pursuant to the provisions of Article 13 or as otherwise provided by law. 

  
 16 

 Section 2.6. Admission of Limited Partners 

On the date hereof, and upon the execution of this Agreement or a counterpart of this Agreement, each of the Persons identified as a limited
partner of the Partnership on Exhibit A to this Agreement (other than the Initial Limited Partners which have already been admitted as limited partners of the Partnership) is hereby admitted to the Partnership as a limited partner of the
Partnership. 
 Section 2.7. U.S. Tax Classification 

The Partners intend for the Partnership to be treated as a partnership for United States federal income tax purposes and no election to the
contrary shall be made. 
 Section 2.8. Not Publicly Traded for Tax Purposes 

The General Partner, on behalf of the Partnership, shall use its best efforts not to take any action which would result in the Partnership
being a publicly traded partnership within the meaning of either Code Section 469(k)(2) or 7704(b). Subject to this Section 2.8, it is expressly acknowledged and agreed by the Partners that the General Partner may, in
its sole and absolute discretion, waive or otherwise modify the application with respect to any Partner(s) or Assignee(s) of any provision herein restricting, prohibiting or otherwise relating to (i) the transfer of a Limited Partner Interest
or the Partnership Units evidencing the same, (ii) the admission of any Limited Partners and (iii) the Redemption Rights of such Partners, and that such waivers or modifications may be made by the General Partner at any time or from time
to time, including concurrently with the issuance of any Partnership Units pursuant to the terms of this Agreement. 
 ARTICLE 3 

PURPOSE 
 Section 3.1.
Purpose and Business 
 The purpose and nature of the business to be conducted by the Partnership is (i) to conduct any business
that may be lawfully conducted by a limited partnership formed pursuant to the Act; provided, however, that such business shall be limited to and conducted in such a manner as to permit the Company at all times to qualify as a REIT,
unless the Company ceases to qualify as a REIT for reasons other than the conduct of the business of the Partnership or voluntarily revokes its election to be a REIT; (ii) to enter into any partnership, joint venture or other similar
arrangement to engage in any of the foregoing or to own interests in any entity engaged in any of the foregoing; and (iii) to do anything necessary, convenient or incidental to the foregoing. In connection with the foregoing, and without
limiting the Company’s right, in its sole discretion, to cease qualifying as a REIT, the Partners acknowledge that the Company’s current status as a REIT inures to the benefit of all of the Partners and not solely to the General Partner,
the Company or their Affiliates. 

  
 17 

 Section 3.2. Powers 

The Partnership is empowered to do any and all acts and things necessary, appropriate, proper, advisable, incidental to or convenient for the
furtherance and accomplishment of the purposes and business described herein and for the protection and benefit of the Partnership, and shall have, without limitation, any and all of the powers that may be exercised on behalf of the Partnership by
the General Partner pursuant to this Agreement; provided, however, that the Partnership may not, without the General Partner’s specific consent, which it may give or withhold in its sole and absolute discretion, take, or refrain
from taking, any action which, in the judgment of the General Partner, in its sole and absolute discretion, (i) could adversely affect the ability of the Company to qualify and to continue to qualify as a REIT; (ii) could subject the
Company to any additional taxes under Code Section 857 or Code Section 4981 or any other related or successor provision of the Code; or (iii) could violate any law or regulation of any governmental body or agency having jurisdiction
over the Company, its securities or the Partnership, unless such action (or inaction) under clause (i), clause (ii) or clause (iii) above shall have been specifically consented to by the Company in writing. 

Section 3.3. Representations and Warranties by the Parties 

(a) Each Partner that is an individual represents and warrants to each other Partner that (i) such Partner has the legal capacity to enter
into this Agreement and perform such Partner’s obligations hereunder, (ii) the consummation of the transactions contemplated by this Agreement to be performed by such Partner will not result in a breach or violation of, or a default under,
any agreement by which such Partner or any of such Partner’s property is or are bound, or any statute, regulation, order or other law to which such Partner is subject, (iii) such Partner is a “United States person” within the
meaning of Code Section 7701(a)(30), and (iv) this Agreement is binding upon, and enforceable against, such Partner in accordance with its terms. 

(b) Each Partner that is not an individual represents and warrants to each other Partner that (i) its execution and delivery of this
Agreement and all transactions contemplated by this Agreement to be performed by it have been duly authorized by all necessary action, including that of its general partner(s), committee(s), trustee(s), beneficiaries, director(s) and/or
shareholder(s), as the case may be, as required, (ii) the consummation of such transactions shall not result in a breach or violation of, or a default under, its certificate of limited partnership, partnership agreement, trust agreement,
limited liability company operating agreement, declaration of trust, charter or bylaws, as the case may be, any agreement by which such Partner or any of such Partner’s properties or any of its partners, beneficiaries, trustees or shareholders,
as the case may be, is or are bound, or any statute, regulation, order or other law to which such Partner or any of its partners, trustees, beneficiaries or shareholders, as the case may be, is or are subject, (iii) such Partner is a
“United States person” within the meaning of Code Section 7701(a)(30) and (iv) this Agreement is binding upon, and enforceable against, such Partner in accordance with its terms. 

  
 18 

 (c) Each Partner further represents, warrants, covenants and agrees as follows: 

(i) Except as provided in Exhibit H hereto, at any time such Partner actually or Constructively Owns a 25% or greater capital interest
or profits interest in the Partnership, it does not and will not, without the prior written consent of the General Partner, actually own or Constructively Own (a) with respect to any Tenant that is a corporation, any stock of such Tenant, and
(b) with respect to any Tenant that is not a corporation, any interest in either the assets or net profits of such Tenant. This provision shall not apply to Eldridge so long as the exemption granted by the Board of Directors to Eldridge from
the stock ownership limits in the Stockholders Agreement, dated as of June 25, 2018, is in effect, based on the representations provided by Eldridge in the waiver letter granting such exemption. 

(ii) Upon request of the General Partner, it will promptly disclose to the General Partner the amount of REIT Shares or other capital shares of
the Company that it actually owns or Constructively Owns. 
 Each Partner understands that if, for any reason, (a) the representations,
warranties or agreements set forth above are violated, or (b) the Partnership’s actual or Constructive Ownership of REIT Shares or other capital shares of the Company violates the limitations set forth in the Articles of Incorporation,
then (x) some or all of the Redemption Rights of the Partners may become non-exercisable, and (y) some or all of the REIT Shares owned by the Partners may be automatically transferred to a trust for
the benefit of a charitable beneficiary, as provided in the Articles of Incorporation. 
 (iii) Without the consent of the General Partner,
which may be given or withheld in its sole discretion, no Partner shall take any action that would cause the Partnership at any time to have more than 100 partners (including as partners those Persons indirectly owning an interest in the Partnership
through a partnership, limited liability company, S corporation or grantor trust (such entity, a “flow through entity”), but only if substantially all of the value of such person’s interest in the flow through entity is
attributable to the flow through entity’s interest (direct or indirect) in the Partnership). 
 (d) The representations and warranties
contained in this Section 3.3 shall survive the execution and delivery of this Agreement by each Partner and the dissolution and winding up of the Partnership. 

(e) Each Partner hereby acknowledges that no representations as to potential profit, cash flows, funds from operations or yield, if any, in
respect of the Partnership or the Company have been made by any Partner or any employee or representative or Affiliate of any Partner, and that projections and any other information, including financial and descriptive information and documentation,
which may have been in any manner submitted to such Partner shall not constitute any representation or warranty of any kind or nature, express or implied. 

ARTICLE 4 
 CAPITAL CONTRIBUTIONS

 Section 4.1. Capital Contributions of the Partners 

At the time of their respective execution of this Agreement, the Partners shall make or shall have made Capital Contributions as set forth in
Exhibit A to this Agreement. The Partners shall own Partnership Units of the class or series and in the amounts set forth in Exhibit A and 

  
 19 

 
shall have a Percentage Interest in the Partnership as set forth in Exhibit A, which Percentage Interest shall be adjusted in Exhibit A from time to time by the General Partner to
the extent necessary to reflect accurately exchanges, redemptions, additional Capital Contributions, the issuance of additional Partnership Units (pursuant to any merger or otherwise), or similar events having an effect on any Partner’s
Percentage Interest. Except as provided in Sections 4.2, 4.3 and 10.5, the Partners shall have no obligation to make any additional Capital Contributions or loans to the Partnership. 

Section 4.2. Issuances of Additional Partnership Interests 

(a) The General Partner is hereby authorized, without the need for any vote or approval of any Partner or any other Person who may hold
Partnership Units or Partnership Interests, to cause the Partnership from time to time to issue to any existing Partner (including the General Partner and the Company) or to any other Person, and to admit such Person as a limited partner in the
Partnership, Partnership Units (including Common Units and preferred Partnership Units) or other Partnership Interests, in each case in exchange for the contribution by such Person of property or other assets, in one or more classes, or one or more
series of any of such classes, or otherwise with such designations, preferences, redemption and conversion rights and relative, participating, optional or other special rights, powers and duties, including rights, powers and duties senior to Limited
Partner Interests, all as shall be determined by the General Partner in its sole and absolute discretion subject to Delaware law, including (i) the allocations of items of Partnership income, gain, loss, deduction and credit to each such class
or series of Partnership Interests; (ii) the right of each such class or series of Partnership Interests to share, on a junior, senior or pari passu basis, in Partnership distributions; and (iii) the rights of each such class or
series of Partnership Interests upon dissolution and liquidation of the Partnership; provided, that no such additional Partnership Units or other Partnership Interests shall be issued to the Company unless either (a)(1) the additional
Partnership Interests are issued in connection with an issuance of REIT Shares or other securities by the Company, which securities have designations, preferences and other rights such that the economic interests attributable to such securities are
substantially similar to the designations, preferences and other rights of the additional Partnership Interests issued to the Company in accordance with this Section 4.2(a), and (2) the Company shall make a Capital
Contribution to the Partnership in an amount equal to the net proceeds, if any, raised in connection with such issuance, (b) the additional Partnership Interests are issued to all Partners in proportion to their respective Percentage Interests,
or (c) the additional Partnership Interests are issued in connection with a contribution of property to the Partnership by the Company. In addition, the Company may acquire Units from other Partners pursuant to this Agreement. 

(b) In accordance with, and subject to the terms of Section 4.3, the Company shall not issue any REIT Shares (other
than REIT Shares issued pursuant to Section 8.6) or other securities, or rights, options, warrants or convertible or exchangeable securities containing the right to subscribe for or purchase REIT Shares or other securities
of the Company (or any Debt issued by the Company that provides any of the foregoing rights) (collectively, “New Securities”) other than to all holders of REIT Shares unless (i) the General Partner shall cause the Partnership
to issue to the Company Partnership Interests or rights, options, warrants or convertible or exchangeable securities of the Partnership having designations, preferences and other rights, all such that the economic interests are substantially similar
to those of the REIT 

  
 20 

 
Shares or other securities or New Securities; and (ii) the Company contributes to the Partnership the net proceeds, if any, from the issuance of such REIT Shares, other securities or New
Securities and, if applicable, from the exercise of rights contained in such New Securities. Without limiting the foregoing, the Company is expressly authorized to issue REIT Shares, other securities or New Securities for less than fair market
value, and the General Partner is expressly authorized to cause the Partnership to issue to the Company corresponding Partnership Interests, so long as (x) the General Partner concludes in good faith that such issuance is in the interests of
the Company and the Partnership (for example, and not by way of limitation, the issuance of REIT Shares and corresponding Partnership Units in connection with an issuance of REIT Shares under the Plan or pursuant to an employee share purchase plan
providing for employee purchases of REIT Shares at a discount from fair market value or employee share options that have an exercise price that is less than the fair market value of the REIT Shares, either at the time of issuance or at the time of
exercise, or in order to comply with the REIT share ownership requirements set forth in Code Section 856(a)(5)); and (y) the Company contributes all net proceeds from such issuance and exercise to the Partnership. 

(c) The General Partner may from time to time issue LTIP Units to Persons who provide services to the Partnership, for such consideration as
the General Partner may determine to be appropriate, and admit such Persons as Limited Partners. Subject to the following provisions of this Section 4.2(c) and the special provisions of Sections 6.1(c), 8.7
and 8.8, LTIP Units shall be treated as Partnership Units, with all of the rights, privileges and obligations attendant thereto. For purposes of computing the Partners’ Percentage Interests, holders of LTIP Units shall be treated as
Partnership Unitholders and LTIP Units shall be treated as Partnership Units. In particular, except as otherwise specifically provided in this Agreement, the Partnership shall maintain at all times a one-to-one correspondence between LTIP Units and Partnership Units for conversion, distribution and other purposes, including complying with the following procedures: 

(i) If an Adjustment Event occurs, the General Partner shall make a corresponding adjustment to the LTIP Units to maintain a one-for-one conversion and economic equivalence ratio between Partnership Units and LTIP Units. If the Partnership takes an action affecting the Partnership Units other than
actions specifically defined herein as “Adjustment Events” and in the opinion of the General Partner such action would require an adjustment to the LTIP Units to maintain the
one-to-one correspondence described above, the General Partner shall have the right to make such adjustment to the LTIP Units, to the extent permitted by law and by the
Plan, in such manner and at such time as the General Partner, in its sole discretion, may determine to be appropriate under the circumstances. If an adjustment is made to the LTIP Units as herein provided, the Partnership shall promptly file in the
books and records of the Partnership an officer’s certificate setting forth such adjustment and a brief statement of the facts requiring such adjustment, which certificate shall be conclusive evidence of the correctness of such adjustment
absent manifest error. Promptly after filing of such certificate, (i) the Partnership shall mail a notice to each LTIP Unitholder setting forth the adjustment to his or her LTIP Units and the effective date of such adjustment; and 

  
 21 

 (ii) The LTIP Unitholders shall, in respect of each Distribution Payment Date, when, as and if
authorized and declared by the General Partner out of assets legally available for that purpose, be entitled to receive distributions in an amount per LTIP Unit equal to the distributions per Partnership Unit paid to holders of record on the same
record date established by the General Partner with respect to such Distribution Payment Date; provided, however, that no distributions shall be made in respect of any LTIP Unit that would cause the Economic Capital Account of the
holder of such LTIP Unit to have a negative balance that is greater than the negative balance of the Economic Capital Account of each Partnership Unit generally. During any distribution period, so long as any LTIP Units are outstanding, no
distributions (whether in cash or in kind) shall be authorized, declared or paid on Partnership Units, unless equal distributions have been or contemporaneously are authorized, declared and paid on the LTIP Units for such distribution period, except
in the circumstances described in the proviso to the preceding sentence. Except to the extent required by the aforementioned proviso, the LTIP Units shall rank pari passu with the Partnership Units as to the payment of regular and special
periodic or other distributions and distribution of assets upon liquidation, dissolution or winding up. As to the payment of distributions and as to distribution of assets upon liquidation, dissolution or winding up, any class or series of
Partnership Units or Partnership Interests which by its terms specifies that it shall rank junior to, on a parity with, or senior to the Partnership Units shall also rank junior to, or pari passu with, or senior to, as the case may be, the
entitlement of the LTIP Units to such distribution. Subject to the terms of any LTIP Unit Agreement, an LTIP Unitholder shall be entitled to transfer his or her LTIP Units to the same extent, and subject to the same restrictions as holders of
Partnership Units are entitled to transfer their Partnership Units pursuant to Article 11. 
 LTIP Units shall be subject to the
following special provisions: 
 (1) LTIP Unit Agreements. LTIP Units may, in the sole discretion of the Compensation
Committee of the Company, be issued subject to vesting, forfeiture and additional restrictions on transfer pursuant to the terms of an LTIP Unit Agreement. The terms of any LTIP Unit Agreement may be modified by the Compensation Committee of the
Company, from time to time in its sole discretion, subject to any restrictions on amendment imposed by the relevant LTIP Unit Agreement or by the Plan, if applicable. LTIP Units that have become vested under the terms of an LTIP Unit Agreement are
referred to herein as “Vested LTIP Units”; all other LTIP Units shall be treated as “Unvested LTIP Units.” 

(2) Forfeiture. Unless otherwise specified in the applicable LTIP Unit Agreement, upon the occurrence of any event
specified in an LTIP Unit Agreement as resulting in either the right of the Partnership or the General Partner to repurchase LTIP Units at a specified purchase price or some other forfeiture of any LTIP Units, if the Partnership or the General
Partner exercises such right to repurchase or forfeiture in accordance with the applicable LTIP Unit Agreement, then the relevant LTIP Units shall immediately, and without any further action, be treated as cancelled and no longer outstanding for any
purpose. Unless otherwise specified in the applicable LTIP Unit Agreement, no consideration or other payment shall be due with respect to any LTIP Units that have been forfeited, other than any distributions declared with respect to a Partnership
Record Date prior to the effective date of the forfeiture. In connection with any repurchase or forfeiture of LTIP Units, the balance of the portion of the Capital Account of the LTIP Unitholder that is attributable to all of his or her LTIP Units
shall be reduced by the amount, if any, by which it exceeds the target balance contemplated by Section 6.1(c), calculated with respect to the LTIP Unitholder’s remaining LTIP Units, if any. 

  
 22 

 (3) Allocations. LTIP Unitholders shall receive certain special
allocations of gain under Section 6.1(c). 
 (4) Redemption. The Redemption Right provided
to Limited Partners under Section 8.6 shall not apply with respect to LTIP Units unless and until they are converted to Partnership Units as provided in clause (vi) below and Section 8.7. 

(5) Legend. Any certificate evidencing an LTIP Unit shall bear an appropriate legend indicating that additional terms,
conditions and restrictions on transfer, including any LTIP Unit Agreement, apply to the LTIP Unit. 
 (6) Conversion to
Partnership Units. Vested LTIP Units are eligible to be converted into Partnership Units under Section 8.7. 

(7) Voting. LTIP Units shall have the voting rights provided in Section 8.8. 

Section 4.3. Contribution of Proceeds of Issuance of Securities by the Company 

On the date of the completion of the Initial Public Offering and the Concurrent Offering, the Company shall contribute to the Partnership the
proceeds of the Initial Public Offering and the Concurrent Offering in exchange for Partnership Units; and in connection with any other REIT Share Offering and any other issuance of REIT Shares, other securities or New Securities pursuant to
Section 4.2, the Company shall contribute to the Partnership any proceeds (or a portion thereof) raised in connection with such issuance in exchange for Partnership Interests or rights, options, warrants or convertible or
exchangeable securities of the Partnership having designations, preferences and other rights, all such that the economic interests are substantially similar to those of the REIT Shares or other securities or New Securities contributed to the
Partnership; provided, that, in each case, if the proceeds actually received by the Company are less than the gross proceeds of such issuance as a result of any underwriter’s discount or other expenses paid or incurred in connection with
such issuance, then the Company shall be deemed to have made a Capital Contribution to the Partnership in the amount equal to the sum of the net proceeds of such issuance plus the amount of such underwriter’s discount and other expenses paid by
the Company (which discount and expense shall be treated as an expense for the benefit of the Partnership in accordance with Section 7.4). In the case of employee purchases of New Securities at a discount from fair market
value, the amount of such discount representing compensation to the employee, as determined by the General Partner, shall be treated as an expense of the issuance of such New Securities. 

Section 4.4. Additional Funds 

(a) The General Partner may, at any time and from time to time, determine that the Partnership requires additional funds (“Additional
Funds”) for the acquisition of additional assets, for the redemption of Partnership Units or for such other purposes as the General Partner may determine in its sole and absolute discretion. Additional Funds may be obtained by the
Partnership, at the election of the General Partner, in any manner provided in, and in accordance with, the terms of this Section 4.4 without the approval of any Limited Partners. 

  
 23 

 (b) The General Partner, on behalf of the Partnership, may obtain any Additional Funds by
accepting Capital Contributions from any Partners or other Persons. In connection with any such Capital Contribution, the General Partner is hereby authorized to cause the Partnership from time to time to issue additional Partnership Units (as set
forth in Section 4.2 above) in consideration therefor, and the Percentage Interests of the Partners shall be adjusted to reflect the issuance of such additional Partnership Units. 

(c) The General Partner, on behalf of the Partnership, may obtain any Additional Funds by causing the Partnership to incur Debt to any Person
upon such terms as the General Partner determines appropriate, including making such Debt convertible, redeemable or exchangeable for Partnership Units; provided, however, that the Partnership shall not incur any such Debt if
(i) a breach, violation or default of such indebtedness would be deemed to occur by virtue of the transfer of any Partnership Interest, or (ii) such Debt is recourse to any Partner (unless the Partner otherwise agrees). 

(d) The General Partner, on behalf of the Partnership, may obtain any Additional Funds by causing the Partnership to incur Debt with the
Company if (i) such Debt is, to the extent permitted by law, on substantially the same terms and conditions (including interest rate, repayment schedule, and conversion, redemption, repurchase and exchange rights) as Funding Debt incurred by
the General Partner, the net proceeds of which are loaned to the Partnership to provide such Additional Funds, or (ii) such Debt is on terms and conditions no less favorable to the Partnership than would be available to the Partnership from any
third party; provided, however, that the Partnership shall not incur any such Debt if such Debt is recourse to any Partner (unless the Partner otherwise agrees). 

Section 4.5. Preemptive Rights 

No Person shall have any preemptive, preferential or other similar right with respect to (i) additional Capital Contributions or loans to
the Partnership; or (ii) the issuance or sale of any Partnership Units or other Partnership Interests. 
 ARTICLE 5 

DISTRIBUTIONS 
 Section 5.1.
Priority and Timing of Distributions of Available Cash 
 The General Partner shall cause the Partnership to distribute at
least quarterly all or such portion as the General Partner may in its sole discretion determine of Available Cash generated by the Partnership during such quarter or shorter period to the Partners that are Partners on the Partnership Record Date
with respect to such quarter or shorter period in the following priority: 

  
 24 

 (a) First, to the Partners in accordance with their Percentage Interests in arrears with respect
to the immediately preceding calendar quarter in an amount equal to (1) the sum of (a) the General Partner’s reasonable estimate of the Net Income allocable to the Partners in accordance with their Percentage Interests under
Section 6.1(a) with respect to such immediately preceding calendar quarter and (b) the General Partner’s determination of the Net Income so allocated in prior calendar quarters in the same calendar year, reduced
by (2) the sum of (a) all distributions previously made under this subsection or under subsection B. with respect to all calendar quarters during the same calendar year and (b) any Net Loss allocable to the Partners in accordance with
their Percentage Interests in such calendar quarter or any preceding calendar quarter of the same calendar year under Section 6.1(b). 

(b) Second, to the Partners in accordance with their Percentage Interests; provided, that in no event may a Partner receive a
distribution of Available Cash with respect to a Partnership Unit if such Partner is entitled to receive a distribution out of such Available Cash with respect to a REIT Share for which such Partnership Unit has been exchanged, and any such
distribution shall be made to the Company; and provided, further, that no LTIP Unitholder shall receive any distribution of Available Cash if and to the extent the balance of such LTIP Unitholder’s Adjusted Capital Account would be equal to or
less than zero after such distribution is made unless the balances of the Adjusted Capital Accounts of all Partners in the Partnership would also be equal to or less than zero after such distribution is made. 

Section 5.2. Amounts Withheld 

All amounts withheld pursuant to the Code or any provisions of any state or local tax law and Section 10.5 with
respect to any allocation, payment or distribution to the Partners or Assignees shall be treated as amounts distributed to the Partners or Assignees pursuant to Section 5.1 for all purposes under this Agreement. 

Section 5.3. Distributions Upon Liquidation 

Proceeds from a Terminating Capital Transaction and any other cash received or reductions in reserves made after commencement of the
liquidation of the Partnership shall be distributed to the Partners in accordance with Section 13.2. 

Section 5.4. Restrictions on Distributions 

Notwithstanding any provision to the contrary contained in this Agreement, the Partnership, and the General Partner on behalf of the
Partnership, shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate Section 17-607 of the Act or other applicable law. 

Section 5.5. Compliance with REIT Requirements 

Distributions payable with respect to any Partnership Units, other than any Partnership Units issued to the General Partner in connection with
the issuance of REIT Shares by the Company, that were not outstanding during the entire quarterly period in respect of which any distribution is made shall be prorated based on the portion of the period that such Partnership Units were outstanding.
The General Partner shall make such reasonable efforts, as determined by it in its sole and absolute discretion and consistent with the Company’s qualification as a REIT, to cause the Partnership to distribute sufficient amounts to enable the
Company, for so long as the Company has determined to qualify as a REIT, to pay stockholder dividends that will (a) satisfy the requirements for qualifying as a REIT under the Code and Regulations (the “ REIT Requirements”) and
(b) except to the extent otherwise determined by the Company, eliminate any federal income or excise tax liability of the Company. 

  
 25 

 ARTICLE 6 

ALLOCATIONS 
 Section 6.1.
Allocations For Capital Account Purposes 
 For purposes of maintaining the Capital Accounts and in determining the rights of the
Partners among themselves, the Partnership’s items of income, gain, loss and deduction (computed in accordance with Exhibit B) shall be allocated among the Partners in each taxable year (or portion thereof) as provided herein below. 

(a) After giving effect to the special allocations set forth in Section 1 of Exhibit C attached hereto, Net
Income shall be allocated to the Partners in accordance with their respective Percentage Interests. 
 (b) After giving effect to the special
allocations set forth in Section 1 of Exhibit C attached hereto, Net Losses shall be allocated to the Partners in accordance with their respective Percentage Interests. In no event shall Net Losses be allocated to a
Limited Partner to the extent such allocation would result in such partner having an Adjusted Capital Account Deficit (per Unit) at the end of any taxable year in excess of the Adjusted Capital Account Deficit (per Unit) of any other Limited
Partner. All such Net Losses shall be allocated to the other Partners; provided, however, that appropriate adjustments shall be made to the allocation of future Net Income in order to offset such specially allocated Net Losses
hereunder. 
 (c) Notwithstanding the provisions of Section 6.1(a) above, any net capital gains realized in
connection with the actual or hypothetical sale of all or substantially all of the assets of the Partnership, including net capital gain realized in connection with an adjustment to the Carrying Value of Partnership assets under Code
Section 704(b), shall first be allocated to the LTIP Unitholders until the aggregate Economic Capital Account Balances of such LTIP Unitholders, to the extent attributable to their ownership of LTIP Units, are equal to the product of
(i) the Partnership Unit Economic Balance, multiplied by (ii) the number of such LTIP Unitholders’ LTIP Units. 

Section 6.2. Economic Capital Account Balances of LTIP Unitholders 

For this purpose, the “Economic Capital Account Balances” of the LTIP Unitholders will be equal to their Capital Account balances,
plus the amount of their shares of any Partner Minimum Gain or Partnership Minimum Gain, in either case to the extent attributable to their ownership of LTIP Units. Similarly, the “Partnership Unit Economic Balance” shall mean (i) the
Capital Account balance of the Company, plus the amount of the Company’s share of any Partner Minimum Gain or Partnership Minimum Gain, in either case to the extent attributable to the Company’s ownership of Partnership Units and computed
on a hypothetical basis after taking into account all allocations through the date on which any allocation is made under this Section 6.2, divided by (ii) the number of the Company’s Partnership Units. Any such
allocations shall 

  
 26 

 
be made among the LTIP Unitholders in proportion to the amounts required to be allocated to each under this Section 6.2. The parties agree that the intent of this
Section 6.2 is to make the Capital Account balances of the LTIP Unitholders with respect to each of their LTIP Units economically equivalent to the Capital Account balance of the Company with respect to each of its
Partnership Units if the Carrying Value of the Partnership’s property has been adjusted in accordance with Exhibit B in a corresponding amount. 

ARTICLE 7 
 MANAGEMENT AND
OPERATIONS OF BUSINESS 
 Section 7.1. Management 

(a) Except as otherwise expressly provided in this Agreement, all management powers over the business and affairs of the Partnership are and
shall be exclusively vested in the General Partner, and no Limited Partner shall have any right to participate in or exercise control or management power over the business and affairs of the Partnership. The General Partner may not be removed by the
Limited Partners with or without cause, except with the consent of the General Partner, which it may give or withhold at its sole and absolute discretion. In addition to the powers now or hereafter granted to a general partner of a limited
partnership under applicable law or which are granted to the General Partner under any other provision of this Agreement, the General Partner, subject to Sections 7.3 and 7.12, shall have full power and authority to do all things
deemed necessary or desirable by it to conduct the business of the Partnership, to exercise all powers set forth in Section 3.2 and to effectuate the purposes set forth in Section 3.1, including:

 (i) the making of any expenditures, the lending or borrowing of money (including making prepayments on loans and borrowing money to permit
the Partnership to make distributions to its Partners in such amounts as will permit the Company (so long as the Company desires to maintain its qualification as a REIT) to avoid the payment of any federal income tax (including, for this purpose,
any excise tax pursuant to Code Section 4981) and to make distributions to its shareholders in amounts sufficient to permit the Company to maintain its REIT status), the assumption or guarantee of, or other contracting for, indebtedness and
other liabilities, the issuance of evidence of indebtedness (including the securing of the same by deed, mortgage, deed of trust or other lien or encumbrance on the Partnership’s assets) and the incurring of any obligations it deems necessary
for the conduct of the activities of the Partnership; 
 (ii) the making of tax, regulatory and other filings or elections, or rendering of
periodic or other reports to governmental or other agencies having jurisdiction over the business or assets of the Partnership; 
 (iii) the
acquisition, disposition, mortgage, pledge, encumbrance, hypothecation or exchange of any assets of the Partnership (including the exercise or grant of any conversion, option, privilege, or subscription right or other right available in connection
with any assets at any time held by the Partnership) or the merger or other combination of the Partnership with or into another entity (all of the foregoing subject to any prior approval only to the extent required by
Section 7.3); 

  
 27 

 (iv) the mortgage, pledge, encumbrance or hypothecation of any assets of the Partnership, the use
of the assets of the Partnership (including cash on hand) for any purpose consistent with the terms of this Agreement and on any terms that it sees fit, including the financing of the conduct of the operations of the Partnership, the Company or any
of the Partnership’s or the Company’s Subsidiaries, the lending of funds to other Persons (including the Subsidiaries of the Partnership and/or the Company) and the repayment of obligations of the Partnership and its Subsidiaries and any
other Person in which it has an equity investment, and the making of capital contributions to its Subsidiaries; 
 (v) the management,
operation, leasing, landscaping, repair, alteration, demolition, disposition or improvement of any real property or improvements owned by the Partnership or any Subsidiary of the Partnership; 

(vi) the negotiation, execution, delivery and performance of any contracts, conveyances or other instruments that the General Partner considers
useful or necessary or convenient to the conduct of the Partnership’s operations or the implementation of the General Partner’s powers under this Agreement, including contracting with consultants, accountants, legal counsel, other
professional advisors and other agents and the payment of their expenses and compensation out of the Partnership’s assets; 
 (vii) the
distribution of Partnership cash or other Partnership assets in accordance with this Agreement; 
 (viii) holding, managing, investing and
reinvesting cash and other assets of the Partnership; 
 (ix) the collection and receipt of revenues and income of the Partnership; 

(x) the establishment of one or more divisions of the Partnership, the selection and dismissal of employees of the Partnership (including
employees who may be designated as officers with titles such as “president,” “vice president,” “secretary” and “treasurer” of the Partnership), and agents, outside attorneys, accountants, consultants and
contractors of the Partnership, and the determination of their compensation and other terms of employment or hiring; 
 (xi) the maintenance
of such insurance for the benefit of the Partnership and the Partners as it deems necessary or appropriate; 
 (xii) the formation of, or
acquisition of an interest in, and the contribution of property to, any further limited or general partnerships, limited liability companies, real estate investment trusts, corporations, entities that are treated as REITs, “taxable REIT
subsidiaries” or as foreign corporations for federal income tax purposes, joint ventures or other relationships that it deems desirable (including the acquisition of interests in, and the contributions of property or the making of loans to, its
or the Company’s Subsidiaries and any other Person in which it has an equity investment from time to time or the incurrence of indebtedness on behalf of such Persons 

  
 28 

 
or the guarantee of obligations of such Persons and the making of any tax, regulatory or other filing or election with respect to any of the foregoing Persons); provided, that as long as
the Company has determined to continue to qualify as a REIT, the Partnership may not engage in any such formation, acquisition or contribution that would cause the Company to fail to qualify as a REIT; 

(xiii) the control of any matters affecting the rights and obligations of the Partnership, including the settlement, compromise, submission to
arbitration or any other form of dispute resolution, or abandonment of, any claim, cause of action, liability, debt or damages, due or owing to or from the Partnership, the commencement or defense of suits, legal proceedings, administrative
proceedings, arbitrations or other forms of dispute resolution, and the representation of the Partnership in all suits or legal proceedings, administrative proceedings, arbitrations or other forms of dispute resolution, the incurrence of legal
expense, and the indemnification of any Person against liabilities and contingencies to the extent permitted by law; 
 (xiv) the undertaking
of any action in connection with the Partnership’s direct or indirect investment in any Subsidiary or any other Person (including the contribution or loan of funds by the Partnership to such Persons); 

(xv) the determination of the fair market value of any Partnership property distributed in kind using such reasonable method of valuation as
the General Partner may adopt; 
 (xvi) the enforcement of any rights against any Partner pursuant to representations, warranties, covenants
and indemnities relating to such Partner’s contribution of property or assets to the Partnership; 
 (xvii) the exercise, directly or
indirectly, through any attorney-in-fact acting under a general or limited power of attorney, of any right, including the right to vote, appurtenant to any asset or
investment held by the Partnership; 
 (xviii) the exercise of any of the powers of the General Partner enumerated in this Agreement on
behalf of or in connection with any Subsidiary of the Partnership or any other Person in which the Partnership has a direct or indirect interest, or jointly with any such Subsidiary or other Person; 

(xix) the exercise of any of the powers of the General Partner enumerated in this Agreement on behalf of any Person in which the Partnership
does not have an interest pursuant to contractual or other arrangements with such Person; 
 (xx) the making, execution, delivery and
performance of any and all deeds, leases, notes, mortgages, deeds of trust, security agreements, conveyances, contracts, guarantees, warranties, indemnities, waivers, releases or legal instruments or agreements in writing necessary, appropriate or
convenient, in the judgment of the General Partner, for the accomplishment of any of the powers of the General Partner enumerated in this Agreement; 

  
 29 

 (xxi) the issuance of additional Partnership Units and other partnership interests, as
appropriate, in connection with Capital Contributions by Additional Limited Partners and additional Capital Contributions by Partners pursuant to Article 4; and 

(xxii) the taking of any action necessary (or appropriate by the General Partner, in its discretion) to enable the Company to qualify as a
REIT. 
 (b) Each of the Limited Partners agrees that the General Partner is authorized to execute, deliver and perform the above-mentioned agreements and transactions on behalf of the Partnership without any further act, approval or vote of the Partners, notwithstanding any other provision of this Agreement (except as provided in
Section 7.3), the Act or any applicable law, rule or regulation, to the fullest extent permitted under the Act or other applicable law, rule or regulation. The execution, delivery or performance by the General Partner or
the Partnership of any agreement authorized or permitted under this Agreement shall not constitute a breach by the General Partner of any duty that the General Partner may owe the Partnership or the Limited Partners or any other Persons under this
Agreement or of any duty stated or implied by law or equity. 
 (c) At all times from and after the date hereof, the General Partner may
cause the Partnership to establish and maintain at any and all times working capital accounts and other cash or similar balances in such amounts as the General Partner, in its sole and absolute discretion, deems appropriate and reasonable from time
to time. 
 (d) In exercising its authority under this Agreement, the General Partner may, but shall be under no obligation to (except as
otherwise provided by this Agreement with respect to the qualification of the Company as a REIT), take into account the tax consequences to any Partner of any action taken by it. The General Partner and the Partnership shall not be liable to a
Limited Partner under any circumstances as a result of an income tax liability incurred by such Limited Partner as a result of an action (or inaction) by the General Partner taken pursuant to its authority under this Agreement and in accordance with
the terms of Section 7.3. 
 Section 7.2. Certificate of Limited Partnership 

The General Partner has filed the Certificate with the Secretary of State of the State of Delaware as required by the Act. The General Partner
shall use all reasonable efforts to cause to be filed such other certificates or documents as may be reasonable and necessary or appropriate for the formation, continuation, qualification and operation of a limited partnership (or a partnership in
which the limited partners have limited liability) in the State of Delaware and any other state, or the District of Columbia, in which the Partnership may elect to do business or own property. To the extent that such action is determined by the
General Partner to be reasonable and necessary or appropriate or convenient, the General Partner shall file amendments to and restatements of the Certificate and do all of the things to maintain the Partnership as a limited partnership (or a
partnership in which the limited partners have limited liability) under the laws of the State of Delaware and each other state, or the District of Columbia, in which the Partnership may elect to do business or own property. Subject to the terms of
Section 8.5(a)(iv), the General Partner shall not be required, before or after filing, to deliver or mail a copy of the Certificate or any amendment thereto or restatement thereof to any Limited Partner. 

  
 30 

 Section 7.3. Restrictions on General Partner Authority 

The General Partner may not take any action in contravention of an express prohibition or limitation of this Agreement without the written
Consent of Limited Partners holding a majority of the Percentage Interests of the Limited Partners, or such other percentage of the Limited Partners as may be specifically provided for under a provision of this Agreement. 

Section 7.4. Reimbursement of the General Partner and the Company 

(a) Except as provided in this Section 7.4 and elsewhere in this Agreement (including the provisions of Articles
5 and 6 regarding distributions, payments, and allocations to which it may be entitled), the General Partner shall not be compensated for its services as general partner of the Partnership. 

(b) The General Partner and its Affiliates shall be reimbursed on a monthly basis, or such other basis as the General Partner may determine in
its sole and absolute discretion, for all expenditures that each incurs relating to the ownership and operation of, or for the benefit of, the Partnership. 

(c) As set forth in Section 4.3, the Company shall be treated as having made a Capital Contribution in the amount of
all expenses that it incurs and pays relating to the Initial Public Offering, the Concurrent Offering, any other REIT Share Offering and any other issuance of REIT Shares, other securities or New Securities pursuant to
Section 4.2, the proceeds from the issuance of which are contributed to the Partnership. 
 (d) In the event that
the Company shall elect to purchase from its shareholders REIT Shares for the purpose of delivering such REIT Shares to satisfy an obligation under any distribution reinvestment program adopted by the Company, any employee share purchase plan
adopted by the Company, or any similar obligation or arrangement undertaken by the Company in the future, the purchase price paid by the Company for such REIT Shares and any other expenses incurred by the Company in connection with such purchase
shall be considered expenses of the Partnership and shall be reimbursed to the Company, subject to the condition that: (i) if such REIT Shares subsequently are sold by the Company, the Company shall pay to the Partnership any proceeds received
by the Company for such REIT Shares (which sales proceeds shall include the amount of distributions reinvested under any distribution reinvestment or similar program; provided, that a transfer of REIT Shares for Partnership Units pursuant to
Section 8.6 would not be considered a sale for such purposes); and (ii) if such REIT Shares are not retransferred by the Company within 30 days after the purchase thereof, the General Partner shall cause the
Partnership to cancel a number of Partnership Units held by the Company equal to the product obtained by multiplying the Conversion Factor by the number of such REIT Shares (in which case such reimbursement shall be treated as a distribution in
redemption of Partnership Units held by the Company). 
 Section 7.5. Outside Activities of the General Partner 

The General Partner shall not directly or indirectly enter into or conduct any business other than in connection with the ownership,
acquisition and disposition of Partnership Interests and the management of the business of the Partnership, and such activities as are incidental thereto. The General Partner and any Affiliates of the General Partner may acquire Limited Partner
Interests and shall be entitled to exercise all rights of a Limited Partner relating to such Limited Partner Interests. 

  
 31 

 Section 7.6. Contracts with Affiliates 

(a) The Partnership may lend or contribute funds or other assets to its or the Company’s Subsidiaries or other Persons in which it or the
Company has an equity investment and such Persons may borrow funds from the Partnership, on terms and conditions established in the sole and absolute discretion of the General Partner. The foregoing authority shall not create any right or benefit in
favor of any Subsidiary or any other Person. 
 (b) Except as provided in Section 7.5, the Partnership may transfer
assets to joint ventures, other partnerships, limited liability companies, real estate investment trusts, corporations or other business entities in which it is or thereby becomes a participant upon such terms and subject to such conditions
consistent with this Agreement and applicable law as the General Partner, in its sole and absolute discretion, believes are advisable. 
 (c)
Except as expressly permitted by this Agreement, neither the General Partner nor any of its Affiliates shall sell, transfer or convey any property to, or purchase any property from, the Partnership, directly or indirectly, except pursuant to
transactions that are determined by the General Partner in good faith to be fair and reasonable. 
 (d) The General Partner, in its sole and
absolute discretion and without the approval of the Limited Partners, may propose and adopt, on behalf of the Partnership, employee benefit plans, share option plans, and similar plans funded by the Partnership for the benefit of employees of the
General Partner, the Company, the Partnership, Subsidiaries of the Partnership or any Affiliate of any of them in respect of services performed, directly or indirectly, for the benefit of the Partnership, the Company, the General Partner or any
Subsidiaries of the Partnership. 
 (e) The General Partner is expressly authorized to enter into, in the name and on behalf of the
Partnership, and without the approval of the Limited Partners, a right of first opportunity arrangement and other conflict avoidance agreements with various Affiliates of the Partnership, the Company and the General Partner, on such terms as the
General Partner, in its sole and absolute discretion, believes are advisable. 
 Section 7.7. Indemnification 

(a) To the fullest extent permitted by Delaware law, the Partnership shall indemnify each Indemnitee from and against any and all losses,
claims, damages, liabilities, joint or several, expenses (including attorneys’ fees and other legal fees and expenses), judgments, fines, settlements, and other amounts arising from any and all claims, demands, actions, suits or proceedings,
civil, criminal, administrative or investigative, that relate to the operations of the Partnership or the Company (“Actions”) as set forth in this Agreement, in which such Indemnitee may be involved, or is threatened to be involved,
as a party or otherwise, except: 

  
 32 

 (i) if the act or omission of the Indemnitee was material to the matter giving rise to the Action
and either was committed in bad faith or was the result of active and deliberate dishonesty; 
 (ii) for any loss resulting from any
transaction for which such Indemnitee actually received an improper personal benefit in money, property or services or otherwise in violation or breach of any provision of this Agreement; or 

(iii) in the case of any criminal proceeding, if the Indemnitee had reason to believe the act or omission was unlawful. 

Without limitation, the foregoing indemnity shall extend to any liability of any Indemnitee, pursuant to a loan guaranty or otherwise for any
indebtedness of the Partnership or any Subsidiary of the Partnership (including any indebtedness which the Partnership or any Subsidiary of the Partnership has assumed or taken subject to), and the General Partner is hereby authorized and empowered,
on behalf of the Partnership, to enter into one or more indemnity agreements consistent with the provisions of this Section 7.7 in favor of any Indemnitee having or potentially having liability for any such indebtedness.
Any indemnification pursuant to this Section 7.7 shall be made only out of the assets of the Partnership, and neither the General Partner nor any Limited Partner shall have any obligation to contribute to the capital of the
Partnership, or otherwise provide funds, to enable the Partnership to fund its obligations under this Section 7.7. 

(b) Reasonable expenses incurred by an Indemnitee who is a party to a proceeding shall be paid or reimbursed by the Partnership in advance of
the final disposition of the proceeding, upon receipt by the Partnership of an undertaking by or on behalf of the Indemnitee to repay such amount if it shall be determined that the Indemnitee is not entitled to be indemnified as authorized in
Section 7.7(a). 
 (c) The indemnification provided by this Section 7.7 shall be in
addition to any other rights to which an Indemnitee or any other Person may be entitled under any agreement, pursuant to any vote of the Partners, as a matter of law or otherwise, and shall continue as to an Indemnitee who has ceased to serve in
such capacity unless otherwise provided in a written agreement pursuant to which such Indemnities are indemnified. 
 (d) The Partnership
may, but shall not be obligated to, purchase and maintain insurance, on behalf of the Indemnities and such other Persons as the General Partner shall determine, against any liability that may be asserted against or expenses that may be incurred by
such Person in connection with the Partnership’s activities, regardless of whether the Partnership would have the power to indemnify such Person against such liability under the provisions of this Agreement. 

(e) For purposes of this Section 7.7, the Partnership shall be deemed to have requested an Indemnitee to serve as
fiduciary of an employee benefit plan whenever the performance by it of its duties to the Partnership also imposes duties on, or otherwise involves services by, it to the plan or participants or beneficiaries of the plan; excise taxes assessed on an
Indemnitee with respect to an employee benefit plan pursuant to applicable law shall constitute 

  
 33 

 
fines within the meaning of this Section 7.7; and actions taken or omitted by the Indemnitee with respect to an employee benefit plan in the performance of its duties
for a purpose reasonably believed by it to be in the interest of the participants and beneficiaries of the plan shall be deemed to be for a purpose which is not opposed to the best interests of the Partnership. 

(f) In no event may an Indemnitee subject any of the Partners to personal liability by reason of the indemnification provisions set forth in
this Agreement. 
 (g) An Indemnitee shall not be denied indemnification in whole or in part under this Section 7.7
because the Indemnitee had an interest in the transaction with respect to which the indemnification applies if the transaction was otherwise permitted by the terms of this Agreement. 

(h) The provisions of this Section 7.7 are for the benefit of the Indemnities, their heirs, successors, assigns and
administrators and shall not be deemed to create any rights for the benefit of any other Persons. Any amendment, modification or repeal of this Section 7.7 or any provision hereof shall be prospective only and shall not in
any way affect the Partnership’s liability to any Indemnitee under this Section 7.7, as in effect immediately prior to such amendment, modification, or repeal with respect to claims arising from or relating to matters
occurring, in whole or in part, prior to such amendment, modification or repeal, regardless of when such claims may arise or be asserted. 

Section 7.8. Liability of the General Partner 

(a) Notwithstanding anything to the contrary set forth in this Agreement, none of the General Partner, its Affiliates, or any of their
respective officers, trustees, directors, shareholders, partners, members, employees, representatives or agents or any officer, employee, representative or agent of the Partnership and its Affiliates (individually, a “Covered
Person” and collectively, the “Covered Persons”) shall be liable for monetary damages to the Partnership, any Partners or any Assignees for losses sustained or liabilities incurred as a result of errors in judgment or of
any act or omission if the Covered Person’s conduct did not constitute intentional harm or gross negligence. 
 (b) To the fullest
extent permitted by law: 
 (i) the General Partner is acting for the benefit of not only the Partnership and the Limited Partners, but also
the Company’s stockholders collectively; 
 (ii) in the event of a conflict between the interests of the Partnership or any Limited
Partner, on the one hand, and the separate interests of the Company or its stockholders, on the other hand, the General Partner is under no obligation not to give priority to the separate interests of the Company or the stockholders of the Company
and may give priority to the separate interests of the Company and its stockholders in a manner that is adverse to the Partnership and its Limited Partners, and any action or failure to act on the part of the Company or its directors that gives
priority to the separate interests of the Company or its stockholders does not violate the duty of loyalty otherwise owed by the General Partner to the Partnership and/or the Limited Partners or any other Person bound by this Agreement; and 

  
 34 

 (iii) the General Partner shall not be liable to the Partnership or to any Limited Partner or any
other Person bound by this Agreement for monetary damages for losses sustained, liabilities incurred or benefits not derived by the Partnership or any Limited Partner in connection with such decisions, except for liability for the General
Partner’s intentional harm or gross negligence. 
 In furtherance and not in limitation of the foregoing, to the fullest extent
permitted by law and notwithstanding any other provision of this Agreement or any other agreement contemplated herein or applicable provisions of law or equity or otherwise, whenever a conflict arises between the interests of stockholders of the
Company, on one hand, and any other Limited Partner, on the other hand, the General Partner will endeavor in good faith to resolve the conflict in a manner not adverse to either the stockholders of the Company or any other Limited Partner;
provided, however, that for so long as the Company owns a controlling economic interest in the Partnership, any conflict that cannot be resolved in a manner not adverse to either the stockholders of the Company or any other Limited
Partner shall be resolved in favor of the stockholders of the Company, and any action taken by the General Partner in connection with any such conflict of interests shall not constitute a breach of this Agreement or any duty in law, at equity or
otherwise. 
 (c) Subject to its obligations and duties as General Partner set forth in Section 7.1(a), the General
Partner may exercise any of the powers granted to it by this Agreement and perform any of the duties imposed upon it hereunder either directly or by or through its employees and agents. The General Partner shall not be responsible for any misconduct
or negligence on the part of any such employee or agent appointed by the General Partner in good faith. 
 (d) Any amendment, modification or
repeal of this Section 7.8 shall be prospective only and shall not in any way affect the limitations on the Covered Person’s liability to the Partnership and the Limited Partners under this
Section 7.8 as in effect immediately prior to such amendment, modification or repeal with respect to claims arising from or relating to matters occurring, in whole or in part, prior to such amendment, modification or
repeal, regardless of when such claims may arise or be asserted. 
 (e) To the extent that, at law or in equity, a Covered Person has duties
(including fiduciary duties) and liabilities relating thereto to the Partnership or to the Partners, any Covered Person acting under this Agreement or otherwise shall not be liable to the Partnership or to any Partner for its good faith reliance on
the provisions of this Agreement. The provisions of this Agreement, to the extent that they restrict the duties and liabilities of a Covered Person otherwise existing at law or in equity, are agreed by the Partners to replace such other duties and
liabilities of such Covered Person. 
 Section 7.9. Other Matters Concerning the General Partner 

(a) The General Partner may rely and shall be protected in acting, or refraining from acting, upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, bond, debenture, or other paper or document believed by it in good faith to be genuine and to have been signed or presented by the proper party or parties. 

  
 35 

 (b) The General Partner may consult with legal counsel, accountants, appraisers, management
consultants, investment bankers, architects, engineers, environmental consultants and other consultants and advisers selected by it, and any act taken or omitted to be taken in reliance upon the opinion of such Persons as to matters which the
General Partner reasonably believes to be within such Person’s professional or expert competence shall be conclusively presumed to have been done or omitted in good faith and in accordance with such opinion. 

(c) The General Partner shall have the right, in respect of any of its powers or obligations hereunder, to act through any of its duly
authorized officers and duly appointed attorneys-in-fact. Each such attorney shall, to the extent provided by the General Partner in the power of attorney, have full
power and authority to do and perform each and every act and duty which is permitted or required to be done by the General Partner hereunder. 

(d) Notwithstanding any other provisions of this Agreement or the Act, any action of the General Partner on behalf of the Partnership or any
decision of the General Partner to refrain from acting on behalf of the Partnership, undertaken in the good faith belief that such action or omission is necessary or advisable in order (i) to protect the ability of the Company to continue to
qualify as a REIT; (ii) for the Company otherwise to satisfy the REIT Requirements; or (iii) to avoid the Company incurring any taxes under Code Section 337(d), 857, 1374 or 4981, is expressly authorized under this Agreement and is
deemed approved by all of the Limited Partners. 
 Section 7.10. Title to Partnership Assets 

Title to Partnership assets, whether real, personal or mixed and whether tangible or intangible, shall be deemed to be owned by the
Partnership as an entity, and no Partner, individually or collectively, shall have any ownership interest in such Partnership assets or any portion thereof. Title to any or all of the Partnership assets may be held in the name of the Partnership,
the General Partner or one or more nominees, as the General Partner may determine in its sole and absolute discretion, including Affiliates of the General Partner. The General Partner hereby declares and warrants that any Partnership assets for
which legal title is held in the name of the General Partner or any nominee or Affiliate of the General Partner shall be held by the General Partner for the use and benefit of the Partnership in accordance with the provisions of this Agreement;
provided, however, that the General Partner shall use its best efforts to cause beneficial and record title to such assets to be vested in the Partnership as soon as reasonably practicable. All Partnership assets shall be recorded as
the property of the Partnership in its books and records, irrespective of the name in which legal title to such Partnership assets is held. 

Section 7.11. Reliance by Third Parties 

Notwithstanding anything to the contrary in this Agreement, any Person dealing with the Partnership shall be entitled to assume that the
General Partner has full power and authority, without consent or approval of any other Partner or Person, to encumber, sell or otherwise use in any manner any and all assets of the Partnership and to enter into any contracts on behalf of the
Partnership, and take any and all actions on behalf of the Partnership and such Person shall be entitled to deal with the General Partner as if the General Partner were the Partnership’s sole 

  
 36 

 
party in interest, both legally and beneficially. Each Limited Partner hereby waives any and all defenses or other remedies which may be available against such Person to contest, negate or
disaffirm any action of the General Partner in connection with any such dealing. In no event shall any Person dealing with the General Partner or its representatives be obligated to ascertain that the terms of this Agreement have been complied with
or to inquire into the necessity or expedience of any act or action of the General Partner or its representatives. Each and every certificate, document or other instrument executed on behalf of the Partnership by the General Partner or its
representatives shall be conclusive evidence in favor of any and every Person relying thereon or claiming thereunder that (i) at the time of the execution and delivery of such certificate, document or instrument, this Agreement was in full
force and effect; (ii) the Person executing and delivering such certificate, document or instrument was duly authorized and empowered to do so for and on behalf of the Partnership; and (iii) such certificate, document or instrument was
duly executed and delivered in accordance with the terms and provisions of this Agreement and is binding upon the Partnership. 

Section 7.12. Partner Approval for Extraordinary Transactions 

Notwithstanding anything to the contrary in this Agreement, for so long as Eldridge owns a Partnership Interest representing at least 10% of
the outstanding Partnership Units, the following actions shall require Partner Approval: 
 (i) a merger, consolidation or other combination
of the Partnership’s assets with another entity not in the ordinary course of the Partnership’s business, a sale, transfer or lease of all or substantially all of the Partnership’s assets or a reclassification, recapitalization or
change of any outstanding shares of the Company’s or General Partner’s stock or other outstanding equity interests; 
 (ii) the
adoption of a material amendment to this Agreement pursuant to Section 14.1; 
 (iii) the transfer of the
Company’s interest in the Partnership or a change of control transaction of the Company as the controlling party of the General Partner; 

(iv) the withdrawal of the General Partner pursuant to Section 11.2; 

(v) the making of a general assignment for the benefit of creditors or appointment or acquiescence in the appointment of a custodian, receiver
or trustee for all or any part of the Partnership’s assets; and 
 (vi) the institution of any proceeding for bankruptcy on behalf of
the Partnership. 
 The right to vote by such Limited Partners shall permanently terminate at such time as the Company owns a Partnership
Interest greater than 90% of the aggregate of (a) the Partnership Units owned by the Company and (b) the Partnership Units issued in the Initial Eldridge Partnership Unit Transactions set forth in Exhibit A
attached hereto that are held directly or indirectly by Eldridge and EPRT Holdings, LLC. Partnership Units that may be issued to any Additional Limited Partner pursuant to Section 12.2 shall not be entitled to consent to
the actions described in this Section 7.12. 

  
 37 

 ARTICLE 8 

RIGHTS AND OBLIGATIONS OF LIMITED PARTNERS 

Section 8.1. Limitation of Liability 

The Limited Partners shall have no liability under this Agreement except as expressly provided in this Agreement, including
Section 10.5, or under the Act. 
 Section 8.2. Management of Business 

No Limited Partner or Assignee (other than the General Partner, any of its Affiliates or any officer, trustee, director, member, employee or
agent of the General Partner, the Partnership or any of their Affiliates, in their capacity as such) shall take part in the operation, management or control (within the meaning of the Act) of the Partnership’s business, transact any business in
the Partnership’s name or have the power to sign documents for or otherwise bind the Partnership. The transaction of any such business by the General Partner, any of its Affiliates or any officer, trustee, director, member, employee or agent of
the General Partner, the Partnership or any of their Affiliates, in their capacity as such, shall not affect, impair or eliminate the limitations on the liability of the Limited Partners or Assignees under this Agreement. 

Section 8.3. Outside Activities of Limited Partners 

Subject to any agreements entered into pursuant to Section 7.6(e) and any other agreements entered into by a Limited
Partner or its Affiliates with the Partnership or any of its Subsidiaries, any Limited Partner (other than the Company) and any officer, trustee, director, member, employee, agent, trustee, Affiliate or shareholder of any Limited Partner (other than
the Company) shall be entitled to and may have business interests and engage in business activities in addition to those relating to the Partnership, including business interests and activities that are in direct competition with the Partnership or
that are enhanced by the activities of the Partnership. Neither the Partnership nor any Partners shall have any rights by virtue of this Agreement in any business ventures of any Limited Partner or Assignee. None of the Limited Partners (other than
the Company) nor any other Person shall have any rights by virtue of this Agreement or the Partnership relationship established hereby in any business ventures of any other Person and such Person shall have no obligation pursuant to this Agreement
to offer any interest in any such business ventures to the Partnership, any Limited Partner or any such other Person, even if such opportunity is of a character which, if presented to the Partnership, any Limited Partner or such other Person, could
be taken by such Person. 
 Section 8.4. Return of Capital 

Except pursuant to the right of redemption set forth in Section 8.6, no Limited Partner shall be entitled to the
withdrawal or return of its Capital Contribution, except to the extent of distributions made pursuant to this Agreement or upon termination of the Partnership as provided herein. Except to the extent provided by Exhibit C or as otherwise
expressly provided in this Agreement, no Limited Partner or Assignee shall have priority over any other Limited Partner or Assignee, either as to the return of Capital Contributions or as to profits, losses or distributions. 

  
 38 

 Section 8.5. Rights of Limited Partners Relating to the Partnership 

(a) In addition to the other rights provided by this Agreement or by the Act, and except as limited by
Section 8.5(c), each Limited Partner shall have the right, for a purpose reasonably related to such Limited Partner’s interest as a limited partner in the Partnership, upon written demand with a statement of the
purpose of such demand and at such Limited Partner’s own expense (including such copying and administrative charges as the General Partner may establish from time to time): 

(i) to obtain a copy of the most recent annual and quarterly reports prepared by the Company and distributed to its shareholders, including,
annual and quarterly reports filed with the Securities and Exchange Commission by the Company pursuant to the Exchange Act; 
 (ii) to obtain
a copy of the Partnership’s federal, state and local income tax returns for each Partnership Year; 
 (iii) to obtain a copy of this
Agreement and the Certificate and all amendments thereto, together with executed copies of all powers of attorney pursuant to which this Agreement, the Certificate and all amendments thereto have been executed; and 

(iv) to obtain true and full information regarding the amount of cash and a description and statement of any other property or services
contributed by each Partner and which each Partner has agreed to contribute in the future, and the date on which each became a Partner. 

(b) The Partnership shall notify each Limited Partner, upon written request, of the then current Conversion Factor. 

(c) Notwithstanding any other provision of this Section 8.5, the General Partner may keep confidential from the
Limited Partners, for such period of time as the General Partner determines in its sole and absolute discretion to be reasonable, any information that (i) the General Partner reasonably believes to be in the nature of trade secrets or other
information, the disclosure of which the General Partner in good faith believes is not in the best interests of the Partnership or could damage the Partnership or its business; or (ii) the Partnership is required by law or by agreements with an
unaffiliated third party to keep confidential. 
 Section 8.6. Redemption Right 

(a) Subject to Sections 8.6(b) and 8.6(c) and on or after such date, if any, as expressly provided for in any agreement entered
into between the Partnership and any Limited Partner, each Limited Partner (other than the Company) shall have the right (the “Redemption Right”) to require the Partnership to redeem on a Specified Redemption Date all or a portion
of the Partnership Units (provided that such Partnership Units constitute Common Units) held by such Limited Partner at a redemption price per Unit equal to and in the form of the Cash Amount to be paid by the Partnership. The Redemption Right shall
be exercised pursuant to a Notice of 

  
 39 

 
Redemption delivered to the Partnership (with a copy to the Company) by the Limited Partner who is exercising the redemption right (the “Redeeming Partner”); provided,
however, that the Partnership shall not be obligated to satisfy such Redemption Right if the Company elects to purchase the Partnership Units subject to the Notice of Redemption pursuant to Section 8.6(b). A Limited
Partner may not exercise the Redemption Right for less than one thousand (1,000) Partnership Units at any one time or, if such Limited Partner holds less than one thousand (1,000) Partnership Units, all of the Partnership Units held by such Partner.
The Redeeming Partner shall have no right, with respect to any Partnership Units so redeemed, to receive any distributions paid on or after the Specified Redemption Date. The Assignee of any Limited Partner may exercise the rights of such Limited
Partner pursuant to this Section 8.6, and such Limited Partner shall be deemed to have assigned such rights to such Assignee and shall be bound by the exercise of such rights by such Assignee. In connection with any
exercise of such rights by an Assignee on behalf of a Limited Partner, the Cash Amount shall be paid by the Partnership directly to such Assignee and not to such Limited Partner. Any Partnership Units redeemed by the Partnership pursuant to this
Section 8.6(a) shall be cancelled upon such redemption. 
 (b) Notwithstanding the provisions of
Section 8.6(a), a Limited Partner that exercises the Redemption Right shall be deemed to have offered to sell the Partnership Units described in the Notice of Redemption to the Company, and the Company may, in its sole and
absolute discretion, elect to purchase directly and acquire such Partnership Units by paying to the Redeeming Partner either the Cash Amount or the REIT Shares Amount, as elected by the Company (in its sole and absolute discretion), on the Specified
Redemption Date, whereupon the Company shall acquire the Partnership Units offered for redemption by the Redeeming Partner and shall be treated for all purposes of this Agreement as the owner of such Partnership Units. If the Company shall elect to
exercise its right to purchase Partnership Units under this Section 8.6(b) with respect to a Notice of Redemption, it shall so notify the Redeeming Partner within five (5) Business Days after the receipt by it of such
Notice of Redemption. Unless the Company (in its sole and absolute discretion) shall exercise its right to purchase Partnership Units from the Redeeming Partner pursuant to this Section 8.6(b), the Company shall not have
any obligation to the Redeeming Partner or the Partnership with respect to the Redeeming Partner’s exercise of the Redemption Right. In the event the Company shall exercise its right to purchase Partnership Units with respect to the exercise of
a Redemption Right in the manner described in the first sentence of this Section 8.6(b), the Partnership shall have no obligation to pay any amount to the Redeeming Partner with respect to such Redeeming Partner’s
exercise of such Redemption Right, and each of the Redeeming Partner, the Partnership and the Company shall treat the transaction between the Company and the Redeeming Partner, for federal income tax purposes, as a sale of the Redeeming
Partner’s Partnership Units to the Company. Each Redeeming Partner agrees to execute such documents as the Company may reasonably require in connection with the issuance of REIT Shares upon exercise of the Redemption Right. In case of any
reclassification of the REIT Shares (including any reclassification upon a consolidation or merger in which the Company is the continuing corporation) into securities other than REIT Shares, for purposes of this
Section 8.6(b), the Company (or its Successor) may thereafter exercise its right to purchase Partnership Units for the kind and amount of shares of such securities receivable upon such reclassification by a holder of the
number of REIT Shares for which such Units could be purchased pursuant to this Section immediately prior to such reclassification. 

  
 40 

 (c) Notwithstanding the provisions of Section 8.6(a) and
Section 8.6(b), a Partner shall not be entitled to exercise the Redemption Right pursuant to Section 8.6(a) to the extent that the delivery of REIT Shares to such Partner on the Specified
Redemption Date by the Company pursuant to Section 8.6(b) (regardless of whether or not the Company would in fact exercise its rights under Section 8.6(b)) would (i) be prohibited, as
determined in the sole discretion of the Company, under the Articles of Incorporation or (ii) cause the acquisition of REIT Shares by such Partner to be “integrated” with any other distribution of REIT Shares for purposes of complying
with the Securities Act. 
 Section 8.7. Conversion of LTIP Units 

(a) An LTIP Unitholder shall have the right (the “Conversion Right”), at his or her option, at any time to convert all or a portion
of his or her Vested LTIP Units into Partnership Units; provided, however, that a holder may not exercise the Conversion Right for less than 100 Vested LTIP Units or, if such holder holds less than 100 Vested LTIP Units, all of the
Vested LTIP Units held by such holder. Notwithstanding the foregoing, in no event may a holder of Vested LTIP Units convert a number of Vested LTIP Units that exceeds (x) the Economic Capital Account Balance of such Limited Partner, to the
extent attributable to its ownership of LTIP Units, divided by (y) the Partnership Unit Economic Balance, in each case as determined as of the effective date of conversion (the “Capital Account Limitation”). LTIP Unitholders shall not
have the right to convert Unvested LTIP Units into Partnership Units until they become Vested LTIP Units; provided, however, that when an LTIP Unitholder is notified of the expected occurrence of an event that will cause his or her
Unvested LTIP Units to become Vested LTIP Units, such LTIP Unitholder may give the Partnership a Conversion Notice conditioned upon and effective as of the time of vesting and such Conversion Notice, unless subsequently revoked by the LTIP
Unitholder, shall be accepted by the Partnership subject to such condition. The General Partner shall have the right at any time to cause a conversion of Vested LTIP Units into Partnership Units. In all cases, the conversion of any LTIP Units into
Partnership Units shall be subject to the conditions and procedures set forth in this Section 8.7. 
 (b) Subject
to the Capital Account Limitation, a holder of Vested LTIP Units may convert such Units into an equal number of fully paid and non-assessable Partnership Units, giving effect to all adjustments (if any) made
pursuant to Section 4.2(c). In order to exercise his or her Conversion Right, an LTIP Unitholder shall deliver a notice (a “Conversion Notice”) in the form attached as Exhibit F to the Partnership (with a
copy to the General Partner) not less than 10 nor more than 60 days prior to a date (the “Conversion Date”) specified in such Conversion Notice; provided, however, that if the General Partner has not given to the LTIP
Unitholders notice of a proposed or upcoming Transaction at least 30 days prior to the effective date of such Transaction, then LTIP Unitholders shall have the right to deliver a Conversion Notice until the earlier of (x) the 10th day after
such notice from the General Partner of a Transaction or (y) the third Business Day immediately preceding the effective date of such Transaction. A Conversion Notice shall be provided in the manner provided in
Section 15.1. Each LTIP Unitholder covenants and agrees with the Partnership that all Vested LTIP Units to be converted pursuant to this Section 8.7(b) shall be free and clear of all liens.
Notwithstanding anything herein to the contrary, a holder of LTIP Units may deliver a Redemption Notice pursuant to Section 8.6(a) relating to those Partnership Units that will be issued to such holder upon conversion of
such LTIP Units into Partnership Units in advance of the Conversion Date; 

  
 41 

 
provided, however, that the redemption of such Partnership Units by the Partnership shall in no event take place until after the Conversion Date. For clarity, it is noted that the
objective of this paragraph is to put an LTIP Unitholder in a position where, if he or she so wishes, the Partnership Units into which his or her Vested LTIP Units will be converted can be redeemed by the Partnership simultaneously with such
conversion, with the further consequence that, if the Company elects to assume the Partnership’s redemption obligation with respect to such Partnership Units under Section 8.6(b) by delivering to such holder REIT
Shares rather than cash, then such holder can have such REIT Shares issued to him or her simultaneously with the conversion of his or her Vested LTIP Units into Partnership Units. The General Partner shall cooperate with an LTIP Unitholder to
coordinate the timing of the different events described in the foregoing sentence. 
 (c) The Partnership, at any time at the election of the
General Partner, may cause any number of Vested LTIP Units held by an LTIP Unitholder to be converted (a “Forced Conversion”) into an equal number of Partnership Units, giving effect to all adjustments (if any) made pursuant to
Section 4.2(c); provided, however, that the Partnership may not cause a Forced Conversion of any LTIP Units that would not at the time be eligible for conversion at the option of such LTIP Unitholder pursuant
to Section 8.7. 
 (d) In order to exercise its right of Forced Conversion, the Partnership shall deliver a notice
(a “Forced Conversion Notice”) in the form attached as Exhibit G to the applicable LTIP Unitholder not less than 10 nor more than 60 days prior to the Conversion Date specified in such Forced Conversion Notice. A Forced Conversion
Notice shall be provided in the manner provided in Section 15.1. 
 (e) A conversion of Vested LTIP Units for which
the holder thereof has given a Conversion Notice or the Partnership has given a Forced Conversion Notice shall occur automatically after the close of business on the applicable Conversion Date without any action on the part of such LTIP Unitholder,
as of which time such LTIP Unitholder shall be credited on the books and records of the Partnership with the issuance as of the opening of business on the next day of the number of Partnership Units issuable upon such conversion. After the
conversion of LTIP Units as aforesaid, the Partnership shall deliver to such LTIP Unitholder, upon his or her written request, a certificate of the General Partner certifying the number of Partnership Units and remaining LTIP Units, if any, held by
such Person immediately after such conversion. The Assignee of any Limited Partner pursuant to Article 11 may exercise the rights of such Limited Partner pursuant to this Section 8.7 and such Limited Partner shall be
bound by the exercise of such rights by the Assignee. 
 (f) For purposes of making future allocations under
Section 6.1(c) and applying the Capital Account Limitation, the portion of the Economic Capital Account Balance of the applicable LTIP Unitholder that is treated as attributable to his or her LTIP Units shall be reduced, as
of the date of conversion, by the product of the number of LTIP Units converted and the Partnership Unit Economic Balance. 
 (g) If the
Partnership or the General Partner shall be a party to any transaction (including a merger, consolidation, unit exchange, self tender offer for all or substantially all Partnership Units or other business combination or reorganization, or sale of
all or substantially 

  
 42 

 
all of the Partnership’s assets, but excluding any transaction which constitutes an Adjustment Event) in each case as a result of which Partnership Units shall be exchanged for or converted
into the right, or the holders of such Partnership Units shall otherwise be entitled, to receive cash, securities or other property or any combination thereof (each of the foregoing being referred to herein as a “Transaction”), then the
General Partner shall, immediately prior to the Transaction, exercise its right to cause a Forced Conversion with respect to the maximum number of LTIP Units then eligible for conversion, taking into account any allocations that occur in connection
with the Transaction or that would occur in connection with the Transaction if the assets of the Partnership were sold at the Transaction price or, if applicable, at a value determined by the General Partner in good faith using the value attributed
to the Partnership Units in the context of the Transaction (in which case the Conversion Date shall be the effective date of the Transaction). In anticipation of such Forced Conversion and the consummation of the Transaction, the Partnership shall
use commercially reasonable efforts to cause each LTIP Unitholder to be afforded the right to receive in connection with such Transaction in consideration for the Partnership Units into which his or her LTIP Units will be converted the same kind and
amount of cash, securities and other property (or any combination thereof) receivable upon the consummation of such Transaction by a holder of the same number of Partnership Units, assuming such holder of Partnership Units is not a Person with which
the Partnership consolidated or into which the Partnership merged or which merged into the Partnership or to which such sale or transfer was made, as the case may be (a “Constituent Person”), or an Affiliate of a Constituent Person. In the
event that holders of Partnership Units have the opportunity to elect the form or type of consideration to be received upon consummation of a Transaction, prior to such Transaction the General Partner shall give prompt written notice to each LTIP
Unitholder of such election, and shall use commercially reasonable efforts to afford the LTIP Unitholders the right to elect, by written notice to the General Partner, the form or type of consideration to be received upon conversion of each LTIP
Unit held by such holder into Partnership Units in connection with such Transaction. If an LTIP Unitholder fails to make such an election, such holder (and any of its transferees) shall receive upon conversion of each LTIP Unit held by him or her
(or by any of his or her transferees) the same kind and amount of consideration that a holder of a Partnership Unit would receive if such Partnership Unit holder failed to make such an election. Subject to the rights of the Partnership and the
Company under any LTIP Unit Agreement and the Plan, the Partnership shall use commercially reasonable effort to cause the terms of any Transaction to be consistent with the provisions of this Section 8.7(g) and to enter
into an agreement with the successor or purchasing entity, as the case may be, for the benefit of any LTIP Unitholders whose LTIP Units will not be converted into Partnership Units in connection with the Transaction that will (i) contain
provisions enabling the holders of LTIP Units that remain outstanding after such Transaction to convert their LTIP Units into securities as comparable as reasonably possible under the circumstances to the Partnership Units and (ii) preserve as
far as reasonably possible under the circumstances the distribution, special allocation, conversion, and other rights set forth in this Agreement for the benefit of the LTIP Unitholders. 

  
 43 

 Section 8.8. Voting Rights of LTIP Units 

LTIP Unitholders shall have (a) those voting rights required from time to time by applicable law, if any, (b) the same voting rights
as a holder of Partnership Units, with the LTIP Units voting as a single class with the Partnership Units and having one vote per LTIP Unit, and (c) the additional voting rights that are expressly set forth below. So long as any LTIP Units remain
outstanding, the Partnership shall not, without the affirmative vote of the holders of at least a majority of the LTIP Units outstanding at the time, given in person or by proxy, either in writing or at a meeting (voting separately as a class),
amend, alter or repeal, whether by merger, consolidation or otherwise, the provisions of this Agreement applicable to LTIP Units so as to materially and adversely affect any right, privilege or voting power of the LTIP Units or the LTIP Unitholders
as such, unless such amendment, alteration, or repeal affects equally, ratably and proportionately the rights, privileges and voting powers of the holders of Partnership Units; but subject, in any event, to the following provisions: (i) with
respect to any Transaction, so long as the LTIP Units are treated in accordance with Section 8.7(g), the consummation of such Transaction shall not be deemed to materially and adversely affect such rights, preferences,
privileges or voting powers of the LTIP Units or the LTIP Unitholders as such; and (ii) any creation or issuance of any Partnership Units or of any class or series of Partnership Interest including additional Partnership Units, LTIP Units or
preferred Partnership Units, whether ranking senior to, junior to, or on a parity with the LTIP Units with respect to distributions and the distribution of assets upon liquidation, dissolution or winding up, shall not be deemed to materially and
adversely affect such rights, preferences, privileges or voting powers of the LTIP Units or the LTIP Unitholders as such. The foregoing voting provisions will not apply if, at or prior to the time when the act with respect to which such vote would
otherwise be required will be effected, all outstanding LTIP Units shall have been converted into Partnership Units. 
 ARTICLE 9 

BOOKS, RECORDS, ACCOUNTING AND REPORTS 

Section 9.1. Records and Accounting 

The General Partner shall keep or cause to be kept at the principal office of the Partnership those records and documents required to be
maintained by the Act and other books and records deemed by the General Partner to be appropriate with respect to the Partnership’s business, including all books and records necessary to provide to the Limited Partners any information, lists
and copies of documents required to be provided pursuant to Section 9.3. Any records maintained by or on behalf of the Partnership in the regular course of its business may be kept on, or be in the form of, punch cards,
magnetic tape, photographs, micrographics or any other information storage device; provided, that the records so maintained are convertible into clearly legible written form within a reasonable period of time. The books of the Partnership
shall be maintained, for financial and tax reporting purposes, on an accrual basis in accordance with GAAP, or such other basis as the General Partner determines to be necessary or appropriate. 

Section 9.2. Fiscal Year 

The fiscal year of the Partnership shall be the calendar year. 

  
 44 

 Section 9.3. Reports 

(a) As soon as practicable, but in no event later than one hundred five (105) days after the close of each Partnership Year, the General
Partner shall cause to be mailed to each Limited Partner as of the close of the Partnership Year, an annual report containing financial statements of the Partnership, or of the Company if such statements are prepared solely on a consolidated basis
with the Company, for such Partnership Year, presented in accordance with GAAP, such statements to be audited by a nationally recognized firm of independent public accountants selected by the General Partner. 

(b) As soon as practicable, but in no event later than one hundred five (105) days after the close of each calendar quarter (except the
last calendar quarter of each year), the General Partner shall cause to be mailed to each Limited Partner as of the last day of the calendar quarter, a report containing unaudited financial statements of the Partnership, or of the Company, if such
statements are prepared solely on a consolidated basis with the Company, and such other information as may be required by applicable law or regulation, or as the General Partner determines to be appropriate. 

(c) The Partnership shall also cause to be prepared such reports and/or information as are necessary for the Company to determine its
qualification as a REIT and its compliance with the requirements for REITs pursuant to the Code and Regulations. 
 ARTICLE 10 

CERTAIN TAX MATTERS 

Section 10.1. Preparation of Tax Returns 

The General Partner shall arrange for the preparation and timely filing of all returns of Partnership income, gains, deductions, losses and
other items required of the Partnership for federal and state income tax purposes and shall use all reasonable efforts to furnish, within ninety (90) days of the close of each taxable year, the tax information reasonably required by Limited
Partners for federal and state income tax reporting purposes. 
 The Limited Partners shall promptly provide the General Partner with such
information relating to the Contributed Properties as is readily available to the Limited Partners, including tax basis and other relevant information, as may be reasonably requested by the General Partner from time to time. 

Section 10.2. Tax Elections 

(a) Except as otherwise provided herein, the General Partner shall, in its sole and absolute discretion, determine whether to make any
available election pursuant to the Code, including the election under Code Section 754. Notwithstanding the above, in making any such tax election the General Partner may, but shall be under no obligation to, take into account the tax
consequences to the Limited Partners resulting from any such election. 
 (b) The General Partner shall make such tax elections on behalf of
the Partnership as the Limited Partners holding a majority of the Percentage Interests of the Limited Partners request; provided, that the General Partner believes that such election is not adverse to the interests of the Company, including
its interest in preserving its qualification as a REIT. The General Partner can elect to use any method permitted by Code Section 704(c) and the 

  
 45 

 
Regulations thereunder to take into account any variation between the adjusted basis of any property contributed to the Partnership by any Partner after the date hereof and such property’s
initial Carrying Value. The General Partner shall have the right to seek to revoke any tax election it makes (including an election under Code Section 754) upon the General Partner’s determination, in its sole and absolute discretion, that
such revocation is in the best interests of the Partners. 
 Section 10.3. Partnership Representative 

(a) The General Partner shall be the “partnership representative,” within the meaning of Code Section 6223 (the
“Partnership Representative”) of the Partnership for federal income tax purposes. Pursuant to Code Section 6230(e), upon receipt of notice from the IRS of the beginning of an administrative proceeding with respect to the Partnership,
the Partnership Representative shall furnish the IRS with the name, address, taxpayer identification number, and profit interest of each of the Limited Partners and the Assignees; provided, however, that such information is provided to
the Partnership by the Limited Partners and the Assignees. 
 (b) The Partnership Representative may, in its discretion, but is not required:

 (i) to enter into any settlement with the IRS with respect to any administrative or judicial proceedings for the adjustment of Partnership
items required to be taken into account by a Partner for income tax purposes (such administrative proceedings being referred to as a “tax audit” and such judicial proceedings being referred to as “judicial review”), and in the
settlement agreement the Partnership Representative may expressly state that such agreement shall bind all Partners, except that such settlement agreement shall not bind any Partner (i) who (within the time prescribed pursuant to the Code and
Regulations) files a statement with the IRS providing that the Partnership Representative shall not have the authority to enter into a settlement agreement on behalf of such Partner; or (ii) who is a “notice partner” (as defined in
Code Section 6231(a)(8)) or a member of a “notice group” (as defined in Code Section 6223(b)(2)); 
 (ii) in the event
that a notice of a final administrative adjustment at the Partnership level of any item required to be taken into account by a Partner for tax purposes (a “final adjustment”) is mailed to the Partnership Representative, to seek
judicial review of such final adjustment, including the filing of a petition for readjustment with the Tax Court or the filing of a complaint for refund with the United States Claims Court or the District Court of the United States for the district
in which the Partnership’s principal place of business is located; 
 (iii) to intervene in any action brought by any other Partner for
judicial review of a final adjustment; 
 (iv) to file a request for an administrative adjustment with the IRS and, if any part of such
request is not allowed by the IRS, to file an appropriate pleading (petition or complaint) for judicial review with respect to such request; 

(v) to enter into an agreement with the IRS to extend the period for assessing any tax which is attributable to any item required to be taken
account of by a Partner for tax purposes, or an item affected by such item; and 

  
 46 

 (vi) to take any other action on behalf of the Partners or the Partnership in connection with any
tax audit or judicial review proceeding to the extent permitted by applicable law or regulations. 
 The taking of any action and the
incurring of any expense by the Partnership Representative in connection with any such proceeding, except to the extent required by law, is a matter in the sole and absolute discretion of the Partnership Representative, and the provisions relating
to indemnification of the General Partner set forth in Section 7.7 shall be fully applicable to the Partnership Representative in its capacity as such. 

(c) The Partnership Representative shall receive no compensation for its services. All third party costs and expenses incurred by the
Partnership Representative in performing its duties as such (including legal and accounting fees and expenses) shall be borne by the Partnership. Nothing herein shall be construed to restrict the Partnership from engaging an accounting and/or law
firm to assist the Partnership Representative in discharging its duties hereunder, so long as the compensation paid by the Partnership for such services is reasonable. 

Section 10.4. Section 83 Safe Harbor Election  

Each Partner authorizes the General Partner to elect to apply the safe harbor (the “Section 83 Safe
Harbor”) set forth in proposed Regulations Section 1.83-3(l) and proposed IRS Revenue Procedure published in Notice 2005-43 (together, the “Proposed
Section 83 Safe Harbor Regulation”) (under which the fair market value of a Partnership Interest that is transferred in connection with the performance of services is treated as being equal to the liquidation value of the interest), or in
similar Regulations or guidance, if such Proposed Section 83 Safe Harbor Regulation or similar Regulations are promulgated as final or temporary Regulations. If the General Partner determines that the Partnership should make such election, the
General Partner is hereby authorized to amend this Agreement without the Consent of any other Partner to provide that (i) the Partnership is authorized and directed to elect the Section 83 Safe Harbor, (ii) the Partnership and each of
its Partners (including any Person to whom a Partnership Interest, including an LTIP Unit, is issued in connection with the performance of services) will comply with all requirements of the Section 83 Safe Harbor with respect to all Partnership
Interests Transferred in connection with the performance of services while such election remains in effect and (iii) the Partnership and each of its Partners will take all actions necessary, including providing the Partnership with any required
information, to permit the Partnership to comply with the requirements set forth or referred to in the applicable Regulations for such election to be effective until such time (if any) as the General Partner determines, in its sole discretion, that
the Partnership should terminate such election. The General Partner is further authorized to amend this Agreement to modify Article 6 to the extent the General Partner determines in its discretion that such modification is necessary or
desirable as a result of the issuance of any applicable law, Regulations, notice or ruling relating to the tax treatment of the transfer of a Partnership Interests in connection with the performance of services. Notwithstanding anything to the
contrary in this Agreement, each Partner expressly confirms that it will be legally bound by any such amendment. 

  
 47 

 Section 10.5. Withholding 

(a) Each Limited Partner hereby authorizes the Partnership to withhold from, or pay on behalf of or with respect to, such Limited Partner any
amount of federal, state, local, or foreign taxes that the General Partner determines that the Partnership is required to withhold or pay with respect to any amount distributable or allocable to such Limited Partner pursuant to this Agreement,
including any taxes required to be withheld or paid by the Partnership pursuant to Code Section 1441, 1442, 1445, or 1446. Any amount paid on behalf of or with respect to a Limited Partner shall constitute a loan by the Partnership to such
Limited Partner, which loan shall be repaid by such Limited Partner within fifteen (15) days after notice from the General Partner that such payment must be made unless (i) the Partnership withholds such payment from a distribution which
would otherwise be made to the Limited Partner, or (ii) the General Partner determines, in its sole and absolute discretion, that such payment may be satisfied out of the available funds of the Partnership which would, but for such payment, be
distributed to the Limited Partner. Any amounts withheld pursuant to the foregoing clause (i) or (ii) shall be treated as having been distributed to such Limited Partner. 

(b) In the event that a Limited Partner fails to pay any amounts owed to the Partnership pursuant to this
Section 10.5 when due, the General Partner may, in its sole and absolute discretion, elect to make the payment to the Partnership on behalf of such defaulting Limited Partner, and in such event shall be deemed to have
loaned such amount to such defaulting Limited Partner and shall succeed to all rights and remedies of the Partnership as against such defaulting Limited Partner. Without limitation, in such event the General Partner shall have the right to receive
distributions that would otherwise be distributable to such defaulting Limited Partner until such time as such loan, together with all interest thereon, has been paid in full, and any such distributions so received by the General Partner shall be
treated as having been distributed to the defaulting Limited Partner and immediately paid by the defaulting Limited Partner to the General Partner in repayment of such loan. Any amounts payable by a Limited Partner hereunder shall bear interest at
the lesser of (A) the base rate on corporate loans at large United States money center commercial banks, as published from time to time in The Wall Street Journal, plus four (4) percentage points, or (B) the maximum lawful rate
of interest on such obligation, such interest to accrue from the date such amount is due (i.e., fifteen (15) days after demand) until such amount is paid in full. Each Limited Partner shall take such actions as the Partnership or the General
Partner shall request in order to perfect or enforce the security interest created hereunder. 
 (c) Upon a Limited Partner’s complete
withdrawal from the Partnership, such Limited Partner shall be required to restore funds to the Partnership to the extent that the cumulative amount of taxes withheld from or paid on behalf of, or with respect to, such Limited Partner exceeds the
sum of such amounts (i) repaid to the Partnership by such Limited Partner, (ii) withheld from distributions to such Limited Partner and (iii) paid by the General Partner on behalf of such Limited Partner. 

  
 48 

 ARTICLE 11 

TRANSFERS AND WITHDRAWALS 

Section 11.1. Transfer 

(a) The term “transfer,” when used in this Article 11 with respect to a Partnership Unit, shall be deemed to refer to a
transaction by which the General Partner purports to assign all or any part of its General Partner Interest to another Person or by which a Limited Partner purports to assign all or any part of its Limited Partner Interest to another Person, and
includes a sale, assignment, gift, pledge, encumbrance, hypothecation, mortgage, exchange or any other disposition by law or otherwise. The term “transfer” when used in this Article 11 does not include (i) any redemption of
Partnership Interests by the Partnership from a Limited Partner, (ii) any acquisition of Partnership Units from a Limited Partner by the Company pursuant to Section 8.6, or (iii) any distribution of Partnership
Units by a Limited Partner to its beneficial owners. 
 (b) No Partnership Interest shall be transferred, in whole or in part, except in
accordance with the terms and conditions set forth in this Article 11. Any transfer or purported transfer of a Partnership Interest not made in accordance with this Article 11 shall be null and void. 

(c) Notwithstanding the other provisions of this Article 11, the Partnership Interests of the General Partner or the
Company may be transferred, in whole or in part, at any time or from time to time, to any Person that is, at the time of such transfer, a Qualified REIT Subsidiary. Any transferee of the entire General Partner Interest pursuant to this
Section 11.1(c) shall automatically become, without further action or Consent of any Limited Partners, the sole general partner of the Partnership, subject to all the rights, privileges, duties and obligations under this
Agreement and the Act relating to a general partner. Upon any transfer permitted by this Section 11.1(c), the transferor Partner shall be relieved of all its obligations under this Agreement. Additionally, the Partnership
Interests of the General Partner may be transferred, in whole or in part, at any time or from time to time, to an Affiliate of the Company or to a wholly-owned subsidiary of the General Partner or the owner of all of the General Partner’s
ownership interests. The provisions of Sections 11.2(b), 11.3, 11.4(a) and 11.5 shall not apply to any transfer permitted by this Section 11.1(c). 

Section 11.2. Transfer of General Partner Interest and Limited Partner Interest 

(a) The General Partner may not transfer any of its General Partner Interest or withdraw as General Partner, or transfer any of its Limited
Partner Interest, except as provided in Sections 11.1(c), 11.2(b) and 11.2(c). 
 (b) Except as set
forth in 11.1(c) or 11.2(c), the General Partner shall not withdraw from the Partnership and shall not transfer all or any portion of its Limited Partner Interest in the Partnership (whether by sale, disposition, statutory merger or
consolidation, liquidation or otherwise) unless Limited Partners holding a majority of the Percentage Interests of the Limited Partners Consent to such transfer or withdrawal. Upon any transfer of the General Partner’s

  
 49 

 
Partnership Interest pursuant to the Consent of the Limited Partners and otherwise in accordance with the provisions of this Section 11.2(b), the transferee shall become
a successor General Partner for all purposes herein, and shall be vested with the powers and rights of the transferor General Partner, and shall be liable for all obligations and responsible for all duties of the General Partner, once such
transferee has executed such instruments as may be necessary to effectuate such admission and to confirm the agreement of such transferee to be bound by all the terms and provisions of this Agreement with respect to the Partnership Interest so
acquired. It is a condition to any transfer by the General Partner otherwise permitted hereunder that the transferee assumes, by operation of law or express agreement, all of the obligations of the transferor General Partner under this Agreement
with respect to such transferred Partnership Interest, and such transfer shall relieve the transferor General Partner of its obligations under this Agreement without the Consent of the Limited Partners. In the event that the General Partner
withdraws from the Partnership, in violation of this Agreement or otherwise, or otherwise dissolves or terminates, or upon an Event of Bankruptcy of the General Partner, as described in Section 13.2, the remaining Partners
may agree in writing to continue the business of the Partnership by selecting a successor General Partner in accordance with the Act. 
 (c)
Except as provided in Section 7.12 and subject to the rights of any Holder of any Partnership Interest set forth on Exhibit A hereto, the General Partner may, without the Consent of the Limited Partners, transfer all of its
Partnership Interest in connection with (a) a merger, consolidation or other combination of its assets with another entity not in the ordinary course of the Partnership’s business, (b) a sale of all or substantially all of the assets
of the Partnership or (c) a reclassification, recapitalization or change of any outstanding shares of the General Partner’s stock or other outstanding equity interests (each, a “Termination Transaction”) if: 

(i) in connection with such Termination Transaction, all of the Limited Partners will receive, or will have the right to elect to receive, for
each Partnership Unit an amount of cash, securities or other property equal to the product of the Conversion Factor and the greatest amount of cash, securities or other property paid to a holder of one REIT Share in consideration of one REIT Share
pursuant to the terms of such Termination Transaction; provided, that if, in connection with such Termination Transaction, a purchase, tender or exchange offer shall have been made to and accepted by the holders of more than 50% of the outstanding
REIT Shares, each holder of Partnership Units shall receive, or shall have the right to elect to receive, the greatest amount of cash, securities or other property which such holder of Partnership Units would have received had it exercised its right
to Redemption pursuant to Section 8.6 hereof and received REIT Shares in exchange for its Partnership Units immediately prior to the expiration of such purchase, tender or exchange offer and had thereupon accepted such purchase, tender or
exchange offer and then such Termination Transaction shall have been consummated; 
 (ii) all of the following conditions are met:
(w) substantially all of the assets directly or indirectly owned by the surviving entity are owned directly or indirectly by the Partnership or another limited partnership or limited liability company which is the survivor of a merger,
consolidation or combination of assets with the Partnership (in each case, the “Surviving Partnership”); (x) the Limited Partners that held Partnership Units immediately prior to the consummation of such Termination Transaction own
a percentage interest of the Surviving Partnership based on the relative fair market values of the net assets of the Partnership and the 

  
 50 

 
other net assets of the Surviving Partnership immediately prior to the consummation of such transaction; (y) the rights, preferences and privileges in the Surviving Partnership of such
Limited Partners are at least as favorable as those in effect with respect to the Partnership Units immediately prior to the consummation of such transaction and as those applicable to any other limited partners or
non-managing members of the Surviving Partnership; and (z) the rights of such Limited Partners include at least one of the following: (a) the right to redeem their interests in the Surviving
Partnership for the consideration available to such persons pursuant to Section 11.2(c)(i) or (b) the right to redeem their interests in the Surviving Partnership for cash on terms substantially equivalent to those in effect with respect
to their Partnership Units immediately prior to the consummation of such transaction, or, if the ultimate controlling person of the Surviving Partnership has publicly traded common equity securities, such common equity securities, with an exchange
ratio based on the determination of relative fair market value of such securities and the REIT Shares; or 
 (iii) the Company is the
surviving entity in the Termination Transaction and holders of REIT shares do not receive cash, securities or other property in the transaction. 

Section 11.3. Limited Partners’ Rights to Transfer 

(a) Except as provided in Section 11.3(b), no Limited Partner shall Transfer all or any portion of its Partnership
Interest to any transferee without the written consent of the General Partner, which consent may be withheld in its sole and absolute discretion; provided, however, that if a Limited Partner is subject to Incapacity, such Incapacitated
Limited Partner may transfer all or any portion of its Partnership Interest. 
 (b) Notwithstanding any other provision of this Article
11, a Limited Partner may Transfer all or any portion of its Partnership Interest to any of its Affiliates and such transferee shall be admitted as a Substituted Limited Partner, all without obtaining the consent of the General Partner;
provided, however, that Eldridge may Transfer all or any portion of its Partnership Interest to an unaffiliated third party and such transferee shall be admitted as a Substituted Limited Partner, all without obtaining the consent of
the General Partner, provided any such Transfer may be prohibited by the General Partner pursuant to Section 11.3(d), 11.3(e) or 11.3(f). 

(c) If a Limited Partner is subject to Incapacity, the executor, administrator, trustee, committee, guardian, conservator or receiver of such
Limited Partner’s estate shall have all of the rights of a Limited Partner, but not more rights than those enjoyed by other Limited Partners, for the purpose of settling or managing the estate and such power as the Incapacitated Limited Partner
possessed to transfer all or any part of his or its interest in the Partnership. The Incapacity of a Limited Partner, in and of itself, shall not dissolve or terminate the Partnership. 

(d) Without limiting the generality of Section 11.3(a), the General Partner may prohibit any transfer by a Limited
Partner of its Partnership Interest if, in the opinion of legal counsel to the Partnership, such transfer would require filing of a registration statement under the Securities Act or would otherwise violate any federal or state securities laws or
regulations applicable to the Partnership or the Partnership Units. 

  
 51 

 (e) No transfer by a Limited Partner of its Partnership Units may be made to any Person if
(i) in the opinion of legal counsel for the Partnership, it would result in the Partnership being treated as an association taxable as a corporation or a publicly traded partnership within the meaning of either Code Section 469(k)(2) or
7704(b); (ii) such transfer is effectuated through an “established securities market” or a “secondary market (or the substantial equivalent thereof)” within the meaning of Code Section 7704; (iii) such transfer would cause
the Partnership to become, with respect to any employee benefit plan subject to Title I of ERISA or to Code Section 4975, a “party-in-interest” (as
defined in Section 3(14) of ERISA) or a “disqualified person” (as defined in Code Section 4975(c)); (iv) such transfer would, in the opinion of legal counsel for the Partnership, cause any portion of the assets of the Partnership
to constitute assets of any employee benefit plan pursuant to Department of Labor Regulations Section 2510.3-101; (v) such transfer would subject the Partnership to be regulated under the Investment
Company Act of 1940, as amended, the Investment Advisers Act of 1940, as amended, or the fiduciary responsibility provisions of ERISA; or (vi) such transfer would cause the Partnership to be terminated for federal income tax purposes pursuant
to Code Section 708. 
 (f) No transfer of any Partnership Units may be made to a lender to the Partnership or any Person who is related
(within the meaning of Section 1.752-4(b) of the Regulations) to any lender to the Partnership whose loan constitutes a Nonrecourse Liability, without the consent of the General Partner, in its sole and
absolute discretion. 
 (g) The General Partner shall keep a register for the Partnership on which the transfer, pledge or release of
Partnership Units shall be shown and pursuant to which entries shall be made to effect all transfers, pledges or releases as required by the applicable sections of Article 8 of the Uniform Commercial Code, as amended, in effect in the States of New
Jersey and Delaware; provided, however, that if there is any conflict between such requirements, the provisions of the Delaware Uniform Commercial Code shall govern. The General Partner shall (i) place proper entries in such
register clearly showing each transfer and each pledge and grant of security interest and the transfer and assignment pursuant thereto, such entries to be endorsed by the General Partner, and (ii) maintain the register and make the register
available for inspection by all of the Partners and their pledgees at all times during the term of this Agreement. Nothing herein shall be deemed a consent to any pledge or transfer otherwise prohibited under this Agreement. 

Section 11.4. Substituted Limited Partners 

(a) No Limited Partner shall have the right to substitute a transferee as a Limited Partner in his or its place. The General Partner shall,
however, have the right to consent to the admission of a transferee of the interest of a Limited Partner pursuant to this Section 11.4 as a Substituted Limited Partner, which consent may be given or withheld by the General
Partner in its sole and absolute discretion. The General Partner’s failure or refusal to permit a transferee of any such interests to become a Substituted Limited Partner shall not give rise to any cause of action against the Partnership or any
Partner. A Person shall be admitted to the Partnership as a Substituted Limited Partner only upon the aforementioned consent of the General Partner and the furnishing to the General Partner of (i) evidence of acceptance in form satisfactory to
the General Partner of all of the terms and conditions of this Agreement, including the power of attorney granted in Section 2.4 and (ii) such other documents of the General Partner in order to effect such
Person’s admission as a Substituted Limited Partner. The admission of any Person as a Substituted Limited Partner shall become effective on the date upon which the name of such Person is recorded on the books and records of the Partnership,
following the consent of the General Partner to such admission. 

  
 52 

 (b) A transferee who has been admitted as a Substituted Limited Partner in accordance with this
Article 11 shall have all the rights and powers and be subject to all the restrictions and liabilities of a Limited Partner under this Agreement. 

(c) Upon the admission of a Substituted Limited Partner, the General Partner shall amend Exhibit A to reflect the name, address, number
of Partnership Units and Percentage Interest (as applicable) of such Substituted Limited Partner and to eliminate or adjust, if necessary, the name, address and interest of the predecessor of such Substituted Limited Partner. 

Section 11.5. Assignees 

If the General Partner, in its sole and absolute discretion, does not consent to the admission of any permitted transferee as a Substituted
Limited Partner, as described in Section 11.4, such transferee shall be considered an Assignee for purposes of this Agreement. An Assignee shall be deemed to have had assigned to it, and shall be entitled to receive
distributions from the Partnership and the share of Net Income, Net Losses, Recapture Income, and any other items, gain, loss, deduction and credit of the Partnership attributable to the Partnership Interest assigned to such transferee, but shall
not be deemed to be a holder of a Partnership Interest for any other purpose under this Agreement, and shall not be entitled to vote such Partnership Interest in any matter presented to the Limited Partners for a vote (such Partnership Interest
being deemed to have been voted on such matter in the same proportion as all other Partnership Interest held by Limited Partners are voted). In the event any such transferee desires to make a further assignment of any such Partnership Interest, such
transferee shall be subject to all of the provisions of this Article 11 to the same extent and in the same manner as any Limited Partner desiring to make an assignment of his or its Partnership Interest. 

Section 11.6. General Provisions 

(a) No Limited Partner may withdraw from the Partnership other than as a result of a permitted transfer of all of such Limited Partner’s
Partnership Interest in accordance with this Article 11 or pursuant to redemption of all of its Partnership Units, or the acquisition thereof by the Company, under Section 8.6. 

(b) Any Limited Partner who shall transfer all of its Partnership Interest in a transfer permitted pursuant to this Article 11 shall
cease to be a Limited Partner upon the admission of all Assignees of such Partnership Interest as Substituted Limited Partners. Similarly, any Limited Partner who shall transfer all of its Partnership Units pursuant to a redemption of all of its
Partnership Units, or the acquisition thereof by the Company, under Section 8.6 shall cease to be a Limited Partner. 

(c) Transfers pursuant to this Article 11 may only be made on the first day of a fiscal quarter of the Partnership, unless the General
Partner otherwise agrees. 

  
 53 

 (d) If any Partnership Interest is transferred or assigned during any quarterly segment of the
Partnership’s fiscal year in compliance with the provisions of this Article 11 or redeemed or transferred pursuant to Section 8.6 on any day other than the first day of a Partnership Year, then Net Income, Net
Losses, each item thereof and all other items attributable to such interest for such Partnership Year shall be divided and allocated between the transferor Partner and the transferee Partner by taking into account their varying interests during the
Partnership Year in accordance with Code Section 706(d), using the interim closing of the books method. All distributions of Available Cash attributable to such Partnership Interest with respect to which the Partnership Record Date is before
the date of such transfer, assignment, or redemption shall be made to the transferor Partner or the Redeeming Partner, as the case may be, and in the case of a transfer or assignment other than a redemption, all distributions of Available Cash
thereafter attributable to such Partnership Interest shall be made to the transferee Partner. 
 ARTICLE 12 

ADMISSION OF PARTNERS 

Section 12.1. Admission of Successor General Partner 

A successor to all of the General Partner Interest pursuant to Section 11.1(c) or 11.2 who is proposed to be
admitted as a successor General Partner shall be admitted to the Partnership as the General Partner, effective immediately prior to such transfer. Any such transferee shall carry on the business of the Partnership without dissolution. In each case,
the admission shall be subject to the successor General Partner executing and delivering to the Partnership an acceptance of all of the terms and conditions of this Agreement and such other documents or instruments as may be required to effect the
admission. In the case of such admission on any day other than the first day of a Partnership Year, all items attributable to the General Partner Interest for such Partnership Year shall be allocated between the transferring General Partner and such
successor as provided in Section 11.6(d). 
 Section 12.2. Admission of Additional Limited Partners

 (a) A Person who makes a Capital Contribution to the Partnership in accordance with this Agreement shall be admitted to the Partnership as
an Additional Limited Partner only upon furnishing to the General Partner (i) evidence of acceptance in form satisfactory to the General Partner of all of the terms and conditions of this Agreement, including the power of attorney granted in
Section 2.4 and (ii) such other documents or instruments as may be required in the discretion of the General Partner in order to effect such Person’s admission as an Additional Limited Partner. 

(b) Notwithstanding anything to the contrary in this Section 12.2, no Person shall be admitted as an Additional
Limited Partner without the consent of the General Partner, which consent may be given or withheld in the General Partner’s sole and absolute discretion. The admission of any Person as an Additional Limited Partner shall become effective on the
date upon which the name of such Person is recorded on the books and records of the Partnership, following the consent of the General Partner to such admission. 

  
 54 

 (c) If any Additional Limited Partner is admitted to the Partnership on any day other than the
first day of a Partnership Year, then Net Income, Net Losses, each item thereof and all other items allocable among Partners and Assignees for such Partnership Year shall be allocated among such Additional Limited Partner and all other Partners and
Assignees by taking into account their varying interests during the Partnership Year in accordance with Code Section 706(d), using the interim closing of the books method. All distributions of Available Cash with respect to which the
Partnership Record Date is before the date of such admission shall be made solely to Partners and Assignees, other than such Additional Limited Partner, and all distributions of Available Cash thereafter shall be made to all of the Partners and
Assignees, including such Additional Limited Partner. 
 Section 12.3. Amendment of Agreement and Certificate of Limited
Partnership 
 For the admission to the Partnership of any Partner, the General Partner shall take all steps necessary and appropriate
under the Act to amend the records of the Partnership and, if necessary, to prepare as soon as practical an amendment of this Agreement (including an amendment of Exhibit A) and, if required by law, shall prepare and file an amendment to the
Certificate and may for this purpose exercise the power of attorney granted pursuant to Section 2.4. 
 ARTICLE 13

 DISSOLUTION, LIQUIDATION AND TERMINATION 

Section 13.1. Dissolution 

The Partnership shall not be dissolved by the admission of Substituted Limited Partners or Additional Limited Partners or by the admission of
a successor General Partner in accordance with the terms of this Agreement. Upon the withdrawal of the General Partner, any successor General Partner shall continue the business of the Partnership without dissolution. The Partnership shall dissolve,
and its affairs shall be wound up, only upon the first to occur of any of the following (“Liquidating Events”): 
 (a) the
expiration of its term as provided in Section 2.5; 
 (b) an event of withdrawal of the General Partner, as defined
in the Act, other than an event of bankruptcy as defined in the Act, unless, (i) at the time of the occurrence of such event there is at least one remaining general partner of the Partnership who is hereby authorized to and does carry on the
business of the Partnership, or (ii) within ninety (90) days after such event of withdrawal not less than a majority of the Percentage Interests of the remaining Partners (or such greater Percentage Interest as may be required by the Act
and determined in accordance with the Act), determined, in case the withdrawing General Partner continues as a Limited Partner, by both excluding and including Limited Partner Interests continuing to be held by the withdrawing General Partner,
agrees in writing to continue the business of the Partnership and to the appointment, effective as of the date of withdrawal, of a successor General Partner; 

  
 55 

 (c) from and after the date of this Agreement through December 31, 2069, an election to
dissolve the Partnership made by the General Partner with the Consent of Partners holding a majority of the Percentage Interests of the Limited Partners; 

(d) on or after January 1, 2070, an election to dissolve the Partnership made by the General Partner, in its sole and absolute discretion;

 (e) entry of a decree of judicial dissolution of the Partnership pursuant to the provisions of the Act; 

(f) the sale of all or substantially all of the assets and properties of the Partnership; or 

(g) a final and non-appealable judgment is entered by a court of competent jurisdiction ruling that the
General Partner is bankrupt or insolvent, or a final and non-appealable order for relief is entered by a court with appropriate jurisdiction against the General Partner, in each case under any federal or state
bankruptcy or insolvency laws as now or hereafter in effect (hereinafter referred to as an “Event of Bankruptcy,” and such term as used herein is intended and shall be deemed to supersede and replace the events of withdrawal
described in Section 17-402(a)(4) and (5) of the Act), unless prior to the entry of such order or judgment all of the remaining Partners agree in writing to continue the business of the Partnership and to the appointment, effective as of a
date prior to the date of such order or judgment, of a substitute General Partner. 
 Section 13.2. Winding Up 

(a) Upon the occurrence of a Liquidating Event, the Partnership shall continue solely for the purposes of winding up its affairs in an orderly
manner, liquidating its assets, and satisfying the claims of its creditors and Partners. No Partner shall take any action that is inconsistent with, or not necessary to or appropriate for, the winding up of the Partnership’s business and
affairs. The General Partner, or, in the event there is no remaining General Partner, any Person elected by a majority of the Percentage Interests of the Limited Partners (the General Partner or such other Person being referred to herein as the
“Liquidator”), shall be responsible for overseeing the winding up and dissolution of the Partnership and shall take full account of the Partnership’s liabilities and property and the Partnership property shall be liquidated as
promptly as is consistent with obtaining the fair value thereof, and the proceeds therefrom (which may, to the extent determined by the General Partner, include REIT Shares of the Company) shall be applied and distributed in the following order:

 (i) First, in satisfaction of all of the Partnership’s debts and liabilities to creditors other than the Partners (whether by payment
or the making of reasonable provision for payment thereof); 
 (ii) Second, to the payment and discharge of all of the Partnership’s
debts and liabilities to the General Partner; 
 (iii) Third, to the payment and discharge of all of the Partnership’s debts and
liabilities to the other Partners; and 

  
 56 

 (iv) The balance, if any, to the General Partner and Limited Partners in accordance with their
Capital Accounts, after giving effect to all contributions, distributions, and allocations for all periods. 
 The General Partner shall not receive any
additional compensation for any services performed pursuant to this Article 13. 
 (b) Notwithstanding the provisions of
Section 13.2(a) which require liquidation of the assets of the Partnership, but subject to the order of priorities set forth therein, if prior to or upon dissolution of the Partnership the Liquidator determines that an
immediate sale of part or all of the Partnership’s assets would be impractical or would cause undue loss to the Partners, the Liquidator may, in its sole and absolute discretion, defer for a reasonable time the liquidation of any assets except
those necessary to satisfy liabilities of the Partnership (including to those Partners as creditors) and/or distribute to the Partners, in lieu of cash, as tenants in common and in accordance with the provisions of
Section 13.2(a), undivided interests in such Partnership assets as the Liquidator deems not suitable for liquidation. Any such distributions in kind shall be made only if, in the good faith judgment of the Liquidator, such
distributions in kind are in the best interest of the Partners, and shall be subject to such conditions relating to the disposition and management of such properties as the Liquidator deems reasonable and equitable and to any agreements governing
the operation of such properties at such time. The Liquidator shall determine the fair market value of any property distributed in kind using such reasonable method of valuation as it may adopt. 

(c) In the discretion of the Liquidator, a pro rata portion of the distributions that would otherwise be made to the General Partner and
Limited Partners pursuant to this Article 13 may be: 
 (i) distributed to a trust established for the benefit of
the General Partner and Limited Partners for the purposes of liquidating Partnership assets, collecting amounts owed to the Partnership, and paying any contingent or unforeseen liabilities or obligations of the Partnership or the General Partner
arising out of or in connection with the Partnership. The assets of any such trust shall be distributed to the General Partner and Limited Partners from time to time, in the reasonable discretion of the Liquidator, in the same proportions as the
amount distributed to such trust by the Partnership would otherwise have been distributed to the General Partner and Limited Partners pursuant to this Agreement; or 

(ii) withheld or escrowed to provide a reasonable reserve for Partnership liabilities (contingent or otherwise) and to reflect the unrealized
portion of any installment obligations owed to the Partnership; provided, however, that such withheld or escrowed amounts shall be distributed to the General Partner and Limited Partners in the manner and order of priority set forth in
Section 13.2(a) as soon as practicable. 
 Section 13.3. Compliance with Timing Requirements of
Regulations 
 In the event the Partnership is “liquidated” within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g), distributions shall be made pursuant to this Article 13 to the General Partner and Limited Partners who have positive Capital Accounts in compliance with Regulations

  
 57 

 
Section 1.704-l(b)(2)(ii)(b)(2). If any Partner has a deficit balance in his or its Capital Account (after giving effect to all contributions,
distributions and allocations for all taxable years, including the year during which such liquidation occurs), such Partner shall have no obligation to make any contribution to the capital of the Partnership with respect to such deficit, and such
deficit shall not be considered a debt owed to the Partnership or to any other Person for any purpose whatsoever. 
 Section 13.4.
Deemed Contribution and Distribution 
 Notwithstanding any other provision of this Article 13, in the event the Partnership
is “liquidated” within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g), but no Liquidating Event has occurred, the Partnership’s property shall not be liquidated, the
Partnership’s liabilities shall not be paid or discharged, and the Partnership’s affairs shall not be wound up. Instead, for federal income tax purposes and for purposes of maintaining Capital Accounts pursuant to Exhibit B hereto,
the Partnership shall be deemed to have contributed all Partnership property and liabilities to a new limited partnership in exchange for an interest in such new limited partnership and, immediately thereafter, the Partnership will be deemed to
liquidate by distributing interests in the new limited partnership to the Partners. 
 Section 13.5. Rights of Limited Partners

 Except as otherwise provided in this Agreement, each Limited Partner shall look solely to the assets of the Partnership for the return of
its Capital Contributions and shall have no right or power to demand or receive property other than cash from the Partnership. Except as otherwise provided in this Agreement, no Limited Partner shall have priority over any other Partner as to the
return of its Capital Contributions, distributions, or allocations. 
 Section 13.6. Notice of Dissolution 

In the event a Liquidating Event occurs or an event occurs that would, but for the provisions of an election or objection by one or more
Partners pursuant to Section 13.1, result in a dissolution of the Partnership, the General Partner shall, within thirty (30) days thereafter, provide written notice thereof to each of the Partners. 

Section 13.7. Termination of Partnership and Cancellation of Certificate of Limited Partnership 

Upon the completion of the winding up of the Partnership and liquidation of its assets, as provided in Section 13.2,
the Partnership shall be terminated by filing a certificate of cancellation with the Secretary of State of the State of Delaware, canceling all qualifications of the Partnership as a foreign limited partnership in jurisdictions other than the State
of Delaware and taking such other actions as may be necessary to terminate the Partnership. 
 Section 13.8. Reasonable Time for
Winding Up 
 A reasonable time shall be allowed for the orderly winding-up of the business and
affairs of the Partnership and the liquidation of its assets pursuant to Section 13.2, in order to minimize any losses otherwise attendant upon such winding up, and the provisions of this Agreement shall remain in effect
among the Partners during the period of liquidation. 

  
 58 

 Section 13.9. Waiver of Partition 

Each Partner hereby waives any right to partition of the Partnership property. 

ARTICLE 14 
 AMENDMENT OF
PARTNERSHIP AGREEMENT; MEETINGS 
 Section 14.1. Amendment of Partnership Agreement 

(a) Subject to Section 7.12, amendments to this Agreement may be proposed by the General Partner or by Limited
Partners holding twenty-five percent (25%) or more of the Partnership Interests. Following such proposal, the General Partner shall submit any proposed amendment to the Limited Partners. The General Partner shall seek the written vote of the
Partners on the proposed amendment or shall call a meeting to vote thereon and to transact any other business that it may deem appropriate. For purposes of obtaining a written vote, the General Partner may require a response within a reasonable
specified time, but not less than fifteen (15) days, and failure to respond in such time period shall constitute a vote which is consistent with the General Partner’s recommendation with respect to the proposal. Except as otherwise
provided in this Agreement, a proposed amendment shall be adopted and be effective as an amendment hereto if it is approved by the General Partner and it receives the Consent of Partners holding a majority of the Percentage Interests of the Limited
Partners. 
 (b) Notwithstanding Section 14.1(a), the General Partner shall have the power, without the consent of
the Limited Partners, to amend this Agreement as may be required to facilitate or implement any of the following purposes: 
 (i) to add to
the obligations of the General Partner or surrender any right or power granted to the General Partner or any Affiliate of the General Partner for the benefit of the Limited Partners; 

(ii) to reflect the admission, substitution, termination, or withdrawal of Partners in accordance with this Agreement; 

(iii) to set forth the designations, rights (including redemption rights that differ from those specified in
Section 8.6), powers, duties, and preferences of Partnership Units or other Partnership Interests issued pursuant to Section 4.2(a); 

(iv) to reflect a change that is of an inconsequential nature and does not adversely affect the Limited Partners in any material respect, or to
cure any ambiguity, correct or supplement any provision in this Agreement not inconsistent with law or with other provisions, or make other changes with respect to matters arising under this Agreement that will not be inconsistent with law or with
the provisions of this Agreement; and 

  
 59 

 (v) to satisfy any requirements, conditions, or guidelines contained in any order, directive,
opinion, ruling or regulation of a federal or state agency or contained in federal or state law. 
 The General Partner shall provide notice to the Limited
Partners when any action under this Section 14.1(b) is taken. 
 (c) Notwithstanding
Section 14.1(a) and 14.1(b), this Agreement shall not be amended without the Consent of each Partner adversely affected if such amendment would (i) convert a Limited Partner’s interest in the Partnership
into a General Partner Interest; (ii) modify the limited liability of a Limited Partner in a manner adverse to such Limited Partner; (iii) alter rights of such Partner to receive distributions pursuant to Article 5 or
Article 13, or the allocations specified in Article 6 (except as permitted pursuant to Section 4.2 and Section 14.1(b)(iii)) in a manner adverse to such Partner;
(iv) alter or modify the Redemption Right and REIT Shares Amount as set forth in Section 8.6, and the related definitions, in a manner adverse to such Partner; (v) cause the termination of the Partnership prior to
the time set forth in Section 2.5 or 13.1; or (vi) amend this Section 14.1(c); provided, however, that the Consent of each Partner adversely affected shall not be required
for any amendment or action that affects all Partners holding the same class or series of Partnership Units on a uniform or pro rata basis. Any amendment consented to by any Partner shall be effective as to that Partner,
notwithstanding the absence of such Consent by any other Partner. 
 (d) Notwithstanding Section 14.1(a) or
Section 14.1(b), the General Partner shall not amend Sections 4.2(a), 7.5, 7.6, 11.2 or 14.2 without the Consent of Limited Partners holding a majority of the Percentage Interests of the
Limited Partners. 
 Section 14.2. Meetings of the Partners 

(a) Meetings of the Partners may be called by the General Partner and shall be called upon the receipt by the General Partner of a written
request by Limited Partners (other than the Company) holding twenty-five percent (25%) or more of the Partnership Interests. The request shall state the nature of the business to be transacted. Notice of any such meeting shall be given to all
Partners not less than seven (7) days nor more than thirty (30) days prior to the date of such meeting. Partners may vote in person or by proxy at such meeting. Whenever the vote or Consent of the Partners is permitted or required under
this Agreement, such vote or Consent may be given at a meeting of the Partners or may be given in accordance with the procedure prescribed in Section 14.1(a). Except as otherwise expressly provided in this Agreement
(including without limitation Section 7.12), the Consent of holders of a majority of the Percentage Interests held by Limited Partners shall control. 

(b) Any action required or permitted to be taken at a meeting of the Partners may be taken without a meeting if a written consent setting forth
the action so taken is signed by a majority of the Percentage Interests of the Partners (or such other percentage as is expressly required by this Agreement). Such consent may be in one instrument or in several instruments, and shall have the same
force and effect as a vote of a majority of the Percentage Interests of the Partners (or such other percentage as is expressly required by this Agreement). Such consent shall be filed with the General Partner. An action so taken shall be deemed to
have been taken at a meeting held on the effective date so certified. 

  
 60 

 (c) Each Limited Partner may authorize any Person or Persons to act for him by proxy on all
matters in which a Limited Partner is entitled to participate, including waiving notice of any meeting, or voting or participating at a meeting. Every proxy must be signed by the Limited Partner or his or its attorney-in-fact. No proxy shall be valid after the expiration of eleven (11) months from the date thereof unless otherwise provided in the proxy. Every proxy shall be revocable at the pleasure of the
Limited Partner executing it, such revocation to be effective upon the Partnership’s receipt of written notice of such revocation from the Limited Partner executing such proxy. 

(d) Each meeting of the Partners shall be conducted by the General Partner or such other Person as the General Partner may appoint pursuant to
such rules for the conduct of the meeting as the General Partner or such other Person deems appropriate. Without limitation, meetings of Partners may be conducted in the same manner as meetings of the shareholders of the Company and may be held at
the same time, and as part of, meetings of the shareholders of the Company. 
 ARTICLE 15 

GENERAL PROVISIONS 

Section 15.1. Addresses and Notice 

Any notice, demand, request or report required or permitted to be given or made to a Partner or Assignee under this Agreement shall be in
writing and shall be deemed given or made when delivered in person or when sent by first class United States mail or by other means of written communication to such Partner or Assignee at the address set forth in Exhibit A
or such other address of which such Partner shall notify the General Partner in writing. 
 Section 15.2. Further Action 

The parties shall execute and deliver all documents, provide all information and take or refrain from taking action as may be necessary or
appropriate to achieve the purposes of this Agreement. 
 Section 15.3. Binding Effect 

This Agreement shall be binding upon and inure to the benefit of the parties hereto and their heirs, executors, administrators, successors,
legal representatives and permitted assigns. 
 Section 15.4. Creditors 

Other than as expressly set forth herein with respect to the Indemnitees, none of the provisions of this Agreement shall be for the benefit
of, or shall be enforceable by, any creditor of the Partnership. 

  
 61 

 Section 15.5. Waiver 

No failure by any party to insist upon the strict performance of any covenant, duty, agreement or condition of this Agreement or to exercise
any right or remedy consequent upon a breach thereof shall constitute a waiver of any such breach or any other covenant, duty, agreement or condition. 

Section 15.6. Counterparts 

This Agreement may be executed in counterparts, all of which together shall constitute one agreement binding on all of the parties hereto,
notwithstanding that all such parties are not signatories to the original or the same counterpart. Each party shall become bound by this Agreement immediately upon affixing his or its signature hereto. 

Section 15.7. Applicable Law 

This Agreement shall be construed and enforced in accordance with and governed by the laws of the State of Delaware, without regard to the
principles of conflict of laws. 
 Section 15.8. Invalidity of Provisions 

If any provision of this Agreement is or becomes invalid, illegal or unenforceable in any respect, the validity, legality and enforceability
of the remaining provisions contained herein shall not be affected thereby. 
 Section 15.9. Entire Agreement 

This Agreement contains the entire understanding and agreement among the Partners with respect to the subject matter hereof and supersedes any
other prior written or oral understandings or agreements among them with respect thereto. 
 * * * * * 

  
 62 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written
above. 
  

			
	GENERAL PARTNER:
	
	Essential Properties OP G.P., LLC
		
	By:	 	 /s/ Hillary P. Hai

		 	Name: Hillary P. Hai
		 	Title: Senior Vice President and Chief Financial Officer

  

			
	 LIMITED PARTNERS:

	
	 Essential Properties Realty Trust, Inc.

		
	By:	 	 /s/ Hillary P. Hai

		 	Name: Hillary P. Hai
		 	Title: Senior Vice President and Chief Financial Officer

  

			
	 EPRT Holdings LLC

		
	By:	 	 /s/ Anthony D. Minella

		 	Name: Anthony D. Minella
		 	Title: Manager
	
	 Security Benefit Life Insurance Company

		
	By:	 	 /s/ Joseph W. Wittrock

		 	Name: Joseph W. Wittrock
		 	Title: Senior VP & Chief Investment Officer

  
 [SIGNATURE PAGE TO
AGREEMENT OF LIMITED PARTNERSHIP OF ESSENTIAL PROPERTIES, L.P.] 

 EXHIBIT A 

Partners’ Contributions and Partnership Interests 

(As of June 25, 2018) 
  

																			
	 Name and Address

of Partner
	  	Cash
Contribution	 	  	Agreed Value of
Contributed Property	 	  	Total
Contribution	 	  	Partnership
Units	 	  	 Percentage

Interest

	 General Partner:
	  				  				  				  				  	
	 Essential Properties OP G.P., LLC

47 Hulfish Street, Suite 210

Princeton, NJ 08542
	  				  				  				  				  	1.0% general partner
	 Limited Partners:
	  				  				  				  				  	
	 Essential Properties Realty Trust, Inc.

47 Hulfish Street, Suite 210

Princeton, NJ 08542
	  	$	563,998,554	 	  	$	9,678,060	 	  	$	573,676,614	 	  	 	40,976,901	 	  	67.3% limited partner
	 EPRT Holdings, LLC

47 Hulfish Street, Suite 210

Princeton, NJ 08542
	  	 	N/A	 	  	$	250,790,288	 	  	$	250,790,288	 	  	 	17,913,592	 	  	29.8% limited partner
	 Security Benefit Life Insurance Company

One Security Benefit Place

Topeka, KS 66636
	  	$	16,001,440	 	  	 	N/A	 	  	$	16,001,440	 	  	 	1,142,960	 	  	1.9% limited partner

  

	+	Subject to change as a result of subsequent contributions by the Initial Limited Partners 

  
 A-1 

 EXHIBIT B 

CAPITAL ACCOUNT MAINTENANCE 
 1.
Capital Accounts of the Partners 
 (a) The Partnership shall maintain for each Partner a separate Capital Account in accordance with
the rules of Regulations Section 1.704-l(b)(2)(iv). Such Capital Account shall be increased by (i) the amount of all Capital Contributions and any other deemed contributions made by such Partner to
the Partnership pursuant to the Agreement; and (ii) all items of Partnership income and gain (including income and gain exempt from tax) computed in accordance with Section 1(b) and allocated to such Partner pursuant to Section 6.1(a)
of the Agreement and Exhibit C, and decreased by (x) the amount of cash or Agreed Value of all actual and deemed distributions of cash or property made to such Partner pursuant to the Agreement, and (y) all items of Partnership
deduction and loss computed in accordance with Section 1(b) and allocated to such Partner pursuant to Section 6.1(b) of the Agreement and Exhibit C. 

(b) For purposes of computing the amount of any item of income, gain, deduction or loss (“Net Income” or “Net
Loss”) to be reflected in the Partners’ Capital Accounts, unless otherwise specified in the Agreement, the determination, recognition and classification of any such item shall be the same as its determination, recognition and
classification for federal income tax purposes determined in accordance with Code Section 703(a) (for this purpose all items of income, gain, loss or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be
included in taxable income or loss), with the following adjustments: 
 (1) Except as otherwise provided in Regulations Section 1.704-1(b)(2)(iv)(m), the computation of all items of income, gain, loss and deduction shall be made without regard to any election under Code Section 754 which may be made by the Partnership;
provided, that the amounts of any adjustments to the adjusted bases of the assets of the Partnership made pursuant to Code Section 734 as a result of the distribution of property by the Partnership to a Partner (to the extent that such
adjustments have not previously been reflected in the Partners’ Capital Accounts) shall be reflected in the Capital Accounts of the Partners in the manner and subject to the limitations prescribed in Regulations
Section 1.704-1(b)(2)(iv)(m)(4). 
 (2) The computation of all items of income,
gain, and deduction shall be made without regard to the fact that items described in Code Sections 705(a)(1)(B) or 705(a)(2)(B) are not includable in gross income or are neither currently deductible nor capitalized for federal income tax purposes.

 (3) Any income, gain or loss attributable to the taxable disposition of any Partnership property shall be determined as if
the adjusted basis of such property as of such date of disposition were equal in amount to the Partnership’s Carrying Value with respect to such property as of such date. 

  
 B-1 

 (4) In lieu of the depreciation, amortization, and other cost recovery deductions
taken into account in computing such taxable income or loss, there shall be taken into account Depreciation for such fiscal year. 

(5) In the event the Carrying Value of any Partnership Asset is adjusted pursuant to Section 1(d), the amount of any such
adjustment shall be taken into account as gain or loss from the disposition of such asset. 
 (6) Notwithstanding any other
provision of this Section 1(b), any items that are specially allocated pursuant to Exhibit C or Section 6.1(c) of the Agreement shall not be taken into account for purposes of computing Net Income or Net Loss. 

The amounts of the items of Partnership income, gain, loss or deduction available to be specially allocated pursuant to Exhibit C or
Section 6.1(c) of the Agreement shall be determined by applying rules analogous to those set forth in Sections 1(b)(1) through 1(b)(5) above. 

(c) Generally, a transferee (including an Assignee) of a Partnership Unit shall succeed to a pro rata portion of the Capital Account of
the transferor. 
 (d) (1) Consistent with the provisions of Regulations
Section 1.704-1(b)(2)(iv)(f), and as provided in Section 1(d)(2), the Carrying Value of all Partnership assets shall be adjusted upward or downward to reflect any Unrealized Gain or Unrealized Loss
attributable to such Partnership property, as of the times of the adjustments provided in Section 1(d)(2), as if such Unrealized Gain or Unrealized Loss had been recognized on an actual sale of each such property and allocated pursuant to
Section 6.1 of the Agreement. 
 (2) Such adjustments shall be made as of the following times: (a) immediately
prior to the acquisition of an additional interest in the Partnership by any new or existing Partner in exchange for more than a de minimis Capital Contribution; (b) immediately prior to the distribution by the Partnership to a Partner of more
than a de minimis amount of property as consideration for an interest in the Partnership; (c) in connection with the grant of an interest (including LTIP Units) in the Partnership (other than a de minimis interest), as consideration for the
provision of services to or for the benefit of the Partnership by an existing Partner acting in a partner capacity or by a new partner acting in a partner capacity or in anticipation of being a partner; and (d) immediately prior to the
liquidation of the Partnership within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g); provided, however, that adjustments pursuant to clauses (a), (b) and (c) above shall be
made only if the General Partner determines that such adjustments are necessary or appropriate to reflect the relative economic interests of the Partners in the Partnership. 

(3) In accordance with Regulations Section 1.704-1(b)(2)(iv)(e), the Carrying
Value of Partnership assets distributed in kind shall be adjusted upward or downward to reflect any Unrealized Gain or Unrealized Loss attributable to such Partnership property, as of the time any such asset is distributed. 

  
 B-2 

 (4) The Carrying Value of Partnership assets shall be increased (or decreased) to
reflect any adjustments to the adjusted basis of such assets pursuant to Code Section 734(b) or Code Section 743(b), but only to the extent that such adjustments are taken into account in determining Capital Accounts pursuant to
Regulations Section 1.704-1(b)(2)(iv)(m) and Section 1(b)(1) or Section 1(f) of Exhibit C; provided, however, that Carrying Values shall not be adjusted pursuant to this
Section 1(d)(4) to the extent that an adjustment pursuant to Section 1(d)(2) is required in connection with a transaction that would otherwise result in an adjustment pursuant to this Section 1(d)(4). 

(5) In determining Unrealized Gain or Unrealized Loss for purposes of this Exhibit B, the aggregate cash amount and fair
market value of all Partnership assets (including cash or cash equivalents) shall be determined by the General Partner using such reasonable method of valuation as it may adopt, or in the case of a liquidating distribution pursuant to Article 13 of
the Agreement, shall be determined and allocated by the Liquidator using such reasonable method of valuation as it may adopt. The General Partner, or the Liquidator, as the case may be, shall allocate such aggregate value among the assets of the
Partnership (in such manner as it determines in its sole and absolute discretion to arrive at a fair market value for individual properties). 

If the Carrying Value of an asset has been determined or adjusted pursuant to Section 1(b)(2) or Section 1(b)(4), such Carrying
Value shall thereafter be adjusted by the Depreciation taken into account with respect to such asset, for purposes of computing Net Income and Net Loss. 

(e) The provisions of the Agreement (including this Exhibit B and other Exhibits to the Agreement) relating to the maintenance of
Capital Accounts are intended to comply with Regulations Section 1.704-l(b), and shall be interpreted and applied in a manner consistent with such Regulations. In the event the General Partner shall
determine that it is prudent to modify (i) the manner in which the Capital Accounts, or any debits or credits thereto (including debits or credits relating to liabilities which are secured by contributed or distributed property or which are
assumed by the Partnership, the General Partner, or the Limited Partners) are computed; or (ii) the manner in which items are allocated among the Partners for federal income tax purposes, in order to comply with such Regulations or to comply
with Code Section 704(c), the General Partner may make such modification without regard to Article 14 of the Agreement; provided, that it is not likely to have a material effect on the amounts distributable to any Person pursuant to
Article 13 of the Agreement upon the dissolution of the Partnership. The General Partner also shall (i) make any adjustments that are necessary or appropriate to maintain equality between the Capital Accounts of the Partners and the amount of
Partnership capital reflected on the Partnership’s balance sheet, as computed for book purposes, in accordance with Regulations Section 1.704-1(b)(2)(iv)(q); and (ii) make any appropriate
modifications in the event unanticipated events might otherwise cause the Agreement not to comply with Regulations Section 1.704-1(b). In addition, the General Partner may adopt and employ such methods
and procedures for (i) the maintenance of book and tax capital accounts; (ii) the determination and allocation of adjustments under Code Sections 704(c), 734 and 743; (iii) the determination of Net Income, Net Loss, taxable income, taxable
loss and items thereof under the Agreement and pursuant to the Code; (iv) the adoption of reasonable conventions and methods for the valuation of assets and the determination of tax basis; (v) the allocation of asset value and tax basis;
and (vi) conventions for the determination of cost recovery, depreciation and amortization deductions, as it determines in its sole discretion are necessary or appropriate to execute the provisions of the Agreement, to comply with federal and
state tax laws, and are in the best interest of the Partners. 

  
 B-3 

 2. No Interest 

No interest shall be paid by the Partnership on Capital Contributions or on balances in Partners’ Capital Accounts. 

3. No Withdrawal 
 No Partner shall be
entitled to withdraw any part of his or its Capital Contribution or his or its Capital Account or to receive any distribution from the Partnership, except as provided in Articles 4, 5, 7 and 13 of the Agreement. 

  
 B-4 

 EXHIBIT C 

SPECIAL ALLOCATION RULES 
 1. Special
Allocation Rules 
 Notwithstanding any other provision of the Agreement or this Exhibit C, the following special allocations
shall be made in the following order: 
 (a) Minimum Gain Chargeback. Notwithstanding the provisions of Section 6.1 of the
Agreement or any other provisions of this Exhibit C, if there is a net decrease in Partnership Minimum Gain during any Partnership taxable year, then, subject to the exceptions set forth in Regulations Sections
1.704-2(f)(2)-(5), each Partner shall be specially allocated items of Partnership income and gain for such year (and, if necessary, subsequent years) in an amount equal to such Partner’s share of the net
decrease in Partnership Minimum Gain, as determined under Regulations Section 1.704-2(g). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be
allocated to each Partner pursuant thereto. The items to be so allocated shall be determined in accordance with Regulations Section 1.704-2(f)(6). This Section 1(a) is intended to comply with the
minimum gain chargeback requirements in Regulations Section 1.704-2(f) and shall be interpreted consistently therewith. Solely for purposes of this Section 1(a), each Partner’s Adjusted Capital
Account Deficit shall be determined prior to any other allocations pursuant to Section 6.1 of the Agreement of Partner Minimum Gain during such Partnership taxable year. 

(b) Partner Minimum Gain Chargeback. Notwithstanding any other provision of Section 6.1 of the Agreement or any other provisions of
this Exhibit C (except Section 1(a)), if there is a net decrease in Partner Minimum Gain attributable to a Partner Nonrecourse Debt during any Partnership taxable year, then, subject to the exceptions referred to in Regulations Section 1.704-2(i)(4), each Partner who has a share of the Partner Minimum Gain attributable to such Partner Nonrecourse Debt, determined in accordance with Regulations
Section 1.704-2(i)(5), shall be specially allocated items of Partnership income and gain for such year (and, if necessary, subsequent years) in an amount equal to such Partner’s share of the net
decrease in Partner Minimum Gain attributable to such Partner Nonrecourse Debt, determined in accordance with Regulations Section 1.704-2(i)(5). Allocations pursuant to the previous sentence shall be made
in proportion to the respective amounts required to be allocated to each Partner pursuant thereto. The items to be so allocated shall be determined in accordance with Regulations Section 1.704-2(i)(4).
This Section 1(b) is intended to comply with the minimum gain chargeback requirement in such Section of the Regulations and shall be interpreted consistently therewith. Solely for purposes of this Section 1(b), each Partner’s Adjusted
Capital Account Deficit shall be determined prior to any other allocations pursuant to Section 6.1 of the Agreement or this Exhibit with respect to such Partnership taxable year, other than allocations pursuant to Section 1(a). 

(c) Qualified Income Offset. In the event any Partner unexpectedly receives any adjustments, allocations or distributions described in
Regulations Sections 1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5), or 1.704-1(b)(2)(ii)(d)(6), and after giving effect to the
allocations required under Sections 1(a) and 1(b) such Partner has an Adjusted Capital 

  
 C-1 

 
Account Deficit, items of Partnership income and gain (consisting of a pro rata portion of each item of Partnership income, including gross income and gain for the Partnership taxable
year) shall be specially allocated to such Partner in an amount and manner sufficient to eliminate, to the extent required by the Regulations, its Adjusted Capital Account Deficit created by such adjustments, allocations or distributions as quickly
as possible. This Section 1(c) is intended to constitute a qualified income offset under Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith. 

(d) Nonrecourse Deductions. Nonrecourse Deductions for any Partnership taxable year shall be allocated to the Partners in accordance
with their respective Percentage Interests. If the General Partner determines in its good faith discretion that the Partnership’s Nonrecourse Deductions must be allocated in a different ratio to satisfy the safe harbor requirements of the
Regulations promulgated under Code Section 704(b), the General Partner is authorized, upon notice to the Limited Partners, to revise the prescribed ratio to the numerically closest ratio for such Partnership taxable year which would satisfy
such requirements. 
 (e) Partner Nonrecourse Deductions. Any Partner Nonrecourse Deductions for any Partnership taxable year shall be
specially allocated to the Partner who bears the economic risk of loss with respect to the Partner Nonrecourse Debt to which such Partner Nonrecourse Deductions are attributable in accordance with Regulations
Section 1.704-2(i). 
 (f) Code Section 754 Adjustments. To the extent
an adjustment to the adjusted tax basis of any Partnership asset pursuant to Code Section 734(b) or 743(b) is required, pursuant to Regulations Section 1.704-1(b)(2)(iv)(m), to be taken into account
in determining Capital Accounts, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis), and such item of gain
or loss shall be specially allocated to the Partners in a manner consistent with the manner in which their Capital Accounts are required to be adjusted pursuant to such Section of the Regulations. 

(g) Curative Allocations. The allocations set forth in Section 1(a) through 1(f) of this Exhibit C (the “Regulatory
Allocations”) are intended to comply with certain requirements of the Regulations under Code Section 704(b). The Regulatory Allocations may not be consistent with the manner in which the Partners intend to divide Partnership
distributions. Accordingly, the General Partner is hereby authorized to divide other allocations of income, gain, deduction and loss among the Partners so as to prevent the Regulatory Allocations from distorting the manner in which Partnership
distributions will be divided among the Partners. In general, the Partners anticipate that, if necessary, this will be accomplished by specially allocating other items of income, gain, loss and deduction among the Partners so that the net amount of
the Regulatory Allocations and such special allocations to each person is zero. However, the General Partner will have discretion to accomplish this result in any reasonable manner; provided, however, that no allocation pursuant to
this Section 1(g) shall cause the Partnership to fail to comply with the requirements of Regulations Sections 1.704-1(b)(2)(ii)(d), -2(e) or -2(i). 

  
 C-2 

 2. Allocations for Tax Purposes 

(a) Except as otherwise provided in this Section 2, for federal income tax purposes, each item of income, gain, loss and deduction shall
be allocated among the Partners in the same manner as its correlative item of “book” income, gain, loss or deduction is allocated pursuant to Section 6.1 of the Agreement and Section 1 of this Exhibit C. 

(b) In an attempt to eliminate Book-Tax Disparities attributable to a Contributed Property or Adjusted
Property, items of income, gain, loss, and deduction shall be allocated for federal income tax purposes among the Partners as follows: 

(1) (i) In the case of a Contributed Property, such items attributable thereto shall be allocated among the Partners,
consistent with the principles of Code Section 704(c) and the Regulations thereunder, and with the procedures and methods described in Section 10.2 of the Agreement, to take into account the variation between the 704(c) Value of such
property and its adjusted basis at the time of contribution; and 
 (ii) any item of Residual Gain or Residual Loss
attributable to a Contributed Property shall be allocated among the Partners in the same manner as its correlative item of “book” gain or loss is allocated pursuant to Section 6.1 of the Agreement and Section 1 of this Exhibit
C. 
 (2) (i) In the case of an Adjusted Property, such items shall 

1. first, be allocated among the Partners in a manner consistent with the principles of Code Section 704(c) and the Regulations
thereunder to take into account the Unrealized Gain or Unrealized Loss attributable to such property and the allocations thereof pursuant to Exhibit B; and 

2. second, in the event such property was originally a Contributed Property, be allocated among the Partners in a manner consistent with
Section 2(b)(1) of this Exhibit C; and 
 (ii) any item of Residual Gain or Residual Loss attributable to an
Adjusted Property shall be allocated among the Partners in the same manner as its correlative item of “book” gain or loss is allocated pursuant to Section 6.1 of the Agreement and Section 1 of this Exhibit C. 

(c) To the extent that the Treasury Regulations promulgated pursuant to Code Section 704(c) permit the Partnership to utilize alternative
methods to eliminate the disparities between the Carrying Value of property and its adjusted basis, the General Partner shall have the authority to elect the method to be used by the Partnership and such election shall be binding on all Partners.

  
 C-3 

 3. No Withdrawal 

No Partner shall be entitled to withdraw any part of its Capital Contribution or its Capital Account or to receive any distribution from the
Partnership, except as provided in Articles 4, 5, 8 and 13 of the Agreement. 

  
 C-4 

 EXHIBIT D 

NOTICE OF REDEMPTION 
 The
undersigned Limited Partner hereby irrevocably requests Essential Properties, L.P., a Delaware limited partnership (the “Partnership”), to redeem
                        Partnership Units in the Partnership in accordance with the terms of the Agreement of Limited Partnership
of the Partnership and the Redemption Right referred to therein; and the undersigned Limited Partner irrevocably (i) surrenders such Partnership Units and all right, title and interest therein; and (ii) directs that the Cash Amount or REIT
Shares Amount (as determined by the Company) deliverable upon exercise of the Redemption Right be delivered to the address specified below, and if REIT Shares are to be delivered, such REIT Shares be registered or placed in the name(s) and at the
address(es) specified below. The undersigned hereby represents, warrants, and certifies that the undersigned (a) has marketable and unencumbered title to such Limited Partnership Units, free and clear of the rights or interests of any other
person or entity; (b) has the full right, power, and authority to request such redemption and surrender such Partnership Units as provided herein; and (c) has obtained the consent or approval of all persons or entities, if any, having the
right to consent or approve such redemption and surrender of Units. The undersigned Limited Partner further agrees that, in the event that any state or local property tax is payable as a result of the transfer of its Partnership Units to the
Partnership or the Company, the undersigned Limited Partner shall assume and pay such transfer tax. 
 Dated: ___________________________ 

 

			
	Name of Limited Partner:	  	  

		  	Please Print
		
		  	  
 (Signature of Limited
Partner)

		
		  	  
 (Street Address)

		
		  	  
 (City) (State) (Zip
Code)

		
		  	Signature Guaranteed by:
		
		  	  

 If REIT Shares are to be issued, issue to: 

Name: ____________________________ 
 Please insert social
security or identifying number:
                                        
                                 

  
 D-1 

 EXHIBIT E 

CONSTRUCTIVE OWNERSHIP DEFINITION 
 The
term “Constructively Owns” means ownership determined through the application of the constructive ownership rules of Code Section 318, as modified by Code Section 856(d)(5). Generally, as of the date first set forth above, these
rules provide the following: 
 a. an individual is considered as owning the Ownership Interest that is owned, actually or constructively, by
or for his spouse, his children, his grandchildren, and his parents; 
 b. an Ownership Interest that is owned, actually or constructively,
by or for a partnership, limited liability company or estate is considered as owned proportionately by its partners or beneficiaries; 
 c.
an Ownership Interest that is owned, actually or constructively, by or for a trust is considered as owned by its beneficiaries in proportion to the actuarial interest of such beneficiaries (provided, however, that in the case of a
“grantor trust” the Ownership Interest will be considered as owned by the grantors); 
 d. if ten (10) percent or more in
value of the stock in a corporation is owned, actually or constructively, by or for any person, such person shall be considered as owning the Ownership Interest that is owned, actually or constructively, by or for such corporation in that proportion
which the value of the stock which such person so owns bears to the value of all the stock in such corporation; 
 e. an Ownership Interest
that is owned, actually or constructively, by or for a partner or member which actually or constructively owns a 25% or greater capital interest or profits interest in a partnership or limited liability company, or by or to or for a beneficiary of
an estate or trust shall be considered as owned by the partnership, limited liability company, estate, or trust (or, in the case of a grantor trust, the grantors); 

f. if ten (10) percent or more in value of the stock in a corporation is owned, actually or constructively, by or for any person, such
corporation shall be considered as owning the Ownership Interest that is owned, actually or constructively, by or for such person; 
 g. if
any person has an option to acquire an Ownership Interest (including an option to acquire an option or any one of a series of such options), such Ownership Interest shall be considered as owned by such person; 

h. an Ownership Interest that is constructively owned by a person by reason of the application of the rules described in paragraphs
(a) through (g) above shall, for purposes of applying paragraphs (a) through (g), be considered as actually owned by such person; provided, however, that (i) an Ownership Interest constructively owned by an individual by
reason of paragraph (a) shall not be considered as owned by him for purposes of again applying paragraph (a) in order to make another person the constructive owner of such Ownership Interest, (ii) an Ownership Interest constructively
owned by a partnership, estate, trust, or corporation by reason of the application of paragraphs (e) or (f) shall not be considered as owned by it for purposes of 

  
 E-1 

 
applying paragraphs (b), (c), or (d) in order to make another person the constructive owner of such Ownership Interest, (iii) if an Ownership Interest may be considered as owned by an
individual under paragraph (a) or (g), it shall be considered as owned by him under paragraph (g), and (iv) for purposes of the above described rules, an S corporation shall be treated as a partnership and any shareholder of the S
corporation shall be treated as a partner of such partnership except that this rule shall not apply for purposes of determining whether stock in the S corporation is constructively owned by any person. 

i. For purposes of the above summary of the constructive ownership rules, the term “Ownership Interest” means the ownership of
stock with respect to a corporation and, with respect to any other type of entity, the ownership of an interest in either its assets or net profits. 

  
 E-2 

 EXHIBIT F 

NOTICE OF CONVERSION 
 The
undersigned LTIP Unitholder hereby irrevocably (i) elects to convert the number of LTIP Units in Essential Properties, L.P. (the “Partnership”) set forth below into Partnership Units in accordance with the terms of the Agreement of
Limited Partnership of the Partnership, as it may be amended, supplemented or restated from time to time; and (ii) directs that any cash in lieu of Partnership Units that may be deliverable upon such conversion be delivered to the address
specified below. The undersigned hereby represents, warrants, and certifies that the undersigned (a) has title to such LTIP Units, free and clear of the rights or interests of any other person or entity other than the Partnership; (b) has
the full right, power, and authority to cause the conversion of such LTIP Units as provided herein; and (c) has obtained the consent or approval of all persons or entities, if any, having the right to consent or approve such conversion. 

 

			
	Name of LTIP Unitholder:	  	  

		  	(Please Print: Exact Name as Registered with Partnership)

  

			
	Number of LTIP Units to be Converted:	 	  

 

			
	 Date of this Notice:
	 	  

  

	
	  
 (Signature of Limited Partner: Sign
Exact Name as Registered with Partnership)

  

			
	(Street Address)
                                        (City)
(State) (Zip Code)

  

			
	 Signature Guaranteed by:
	 	  

  
 F-1 

 EXHIBIT G 

NOTICE OF FORCED CONVERSION 

Essential Properties, L.P. (the “Partnership”) hereby irrevocably elects to cause the number of LTIP Units held by the LTIP
Unitholder set forth below to be converted into Partnership Units in accordance with the terms of the Agreement of Limited Partnership of the Partnership, as it may be amended, supplemented and restated from time to time. 

 

			
	 Name of LTIP Unitholder:
	  	  

		  	(Please Print: Exact Name as Registered with Partnership)

  

			
	 Number of LTIP Units to be Converted:
	 	  

  

			
	 Date of this Notice:
	 	  

  
 G-1 

 EXHIBIT H 

SCHEDULE OF PARTNERS’ OWNERSHIP 

WITH RESPECT TO TENANTS 

  
 H-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00284-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00284-of-00352.parquet"}]]