Document:

EX-10.8

 Exhibit 10.8 

REVOLVING CREDIT AND GUARANTY AGREEMENT 

dated as of June 8, 2021 

among 
 TOAST, INC., 

the Guarantors party hereto, 
 the
Lenders and Issuing Banks party hereto 
 and 

JPMORGAN CHASE BANK, N.A., 
 as
Administrative Agent 
  
  

JPMORGAN CHASE BANK, N.A., 

GOLDMAN SACHS LENDING PARTNERS LLC 

and 
 MORGAN STANLEY SENIOR
FUNDING, INC., 
 as Joint Lead Arrangers and Joint Bookrunners 
  

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	1	 
	 Section 1.1
	 	Defined Terms	  	 	1	 
	 Section 1.2
	 	Classification of Loans and Borrowings	  	 	42	 
	 Section 1.3
	 	Terms Generally	  	 	42	 
	 Section 1.4
	 	Accounting Terms; GAAP; Certain Calculations	  	 	42	 
	 Section 1.5
	 	Letter of Credit Amounts	  	 	44	 
	 Section 1.6
	 	Divisions	  	 	44	 
	 Section 1.7
	 	Interest Rates; LIBOR Notification	  	 	44	 
	 Section 1.8
	 	Exchange Rates; Currency Equivalents	  	 	45	 
	 ARTICLE II THE CREDITS
	  	 	45	 
	 Section 2.1
	 	Commitments	  	 	45	 
	 Section 2.2
	 	Revolving Loans and Borrowings	  	 	45	 
	 Section 2.3
	 	Swing Line Loans	  	 	46	 
	 Section 2.4
	 	Issuance of Letters of Credit and Purchase of Participations Therein	  	 	47	 
	 Section 2.5
	 	Requests for Borrowings	  	 	54	 
	 Section 2.6
	 	Funding of Borrowings	  	 	54	 
	 Section 2.7
	 	Interest Elections	  	 	55	 
	 Section 2.8
	 	Termination and Reduction of Commitments	  	 	56	 
	 Section 2.9
	 	Repayment of Loans; Evidence of Debt	  	 	56	 
	 Section 2.10
	 	Prepayment of Loans	  	 	57	 
	 Section 2.11
	 	Fees	  	 	57	 
	 Section 2.12
	 	Interest	  	 	59	 
	 Section 2.13
	 	Alternate Rate of Interest.	  	 	60	 
	 Section 2.14
	 	Increased Costs	  	 	61	 
	 Section 2.15
	 	Break Funding Payments	  	 	63	 
	 Section 2.16
	 	Taxes	  	 	63	 
	 Section 2.17
	 	Payments Generally; Pro Rata Treatment; Sharing of Set-offs	  	 	66	 
	 Section 2.18
	 	Mitigation Obligations: Replacement of Lenders	  	 	67	 
	 Section 2.19
	 	Increase in the Aggregate Commitments	  	 	68	 
	 Section 2.20
	 	Extension of Maturity Date	  	 	72	 
	 Section 2.21
	 	Defaulting Lenders	  	 	73	 
	 ARTICLE III REPRESENTATIONS AND WARRANTIES
	  	 	76	 
	 Section 3.1
	 	Organization; Powers	  	 	76	 
	 Section 3.2
	 	Authorization; Enforceability	  	 	76	 

  
 -i- 

							
	 Section 3.3
	 	Governmental Approvals; No Conflicts	  	 	76	 
	 Section 3.4
	 	Financial Condition; No Material Adverse Change	  	 	77	 
	 Section 3.5
	 	Properties	  	 	77	 
	 Section 3.6
	 	Litigation and Environmental Matters	  	 	77	 
	 Section 3.7
	 	Compliance with Laws and Agreements	  	 	77	 
	 Section 3.8
	 	Investment Company Status	  	 	78	 
	 Section 3.9
	 	Taxes	  	 	78	 
	 Section 3.10
	 	ERISA	  	 	78	 
	 Section 3.11
	 	Disclosure	  	 	79	 
	 Section 3.12
	 	Subsidiaries	  	 	80	 
	 Section 3.13
	 	Anti-Terrorism Laws; USA Patriot Act	  	 	80	 
	 Section 3.14
	 	Anti-Corruption Laws and Sanctions	  	 	80	 
	 Section 3.15
	 	Margin Stock	  	 	80	 
	 Section 3.16
	 	Solvency	  	 	80	 
	 Section 3.17
	 	Affected Financial Institution	  	 	80	 
	 Section 3.18
	 	Collateral Matters.	  	 	80	 
	 ARTICLE IV CONDITIONS
	  	 	81	 
	 Section 4.1
	 	The Effective Date	  	 	81	 
	 Section 4.2
	 	Each Credit Extension	  	 	83	 
	 ARTICLE V AFFIRMATIVE COVENANTS
	  	 	84	 
	 Section 5.1
	 	Financial Statements: Other Information	  	 	84	 
	 Section 5.2
	 	Notices of Material Events	  	 	85	 
	 Section 5.3
	 	Existence; Conduct of Business	  	 	86	 
	 Section 5.4
	 	Payment of Taxes	  	 	86	 
	 Section 5.5
	 	Maintenance of Properties; Insurance	  	 	86	 
	 Section 5.6
	 	Books and Records; Inspection Rights	  	 	86	 
	 Section 5.7
	 	ERISA-Related Information	  	 	87	 
	 Section 5.8
	 	Compliance with Laws and Agreements	  	 	87	 
	 Section 5.9
	 	Use of Proceeds	  	 	87	 
	 Section 5.10
	 	Additional Guarantors	  	 	88	 
	 Section 5.11
	 	Further Assurances	  	 	88	 
	 Section 5.12
	 	Designation of Restricted and Unrestricted Subsidiaries	  	 	88	 
	 Section 5.13
	 	Information Regarding Collateral	  	 	90	 
	 Section 5.14
	 	Post-Closing Obligations	  	 	90	 
	 ARTICLE VI NEGATIVE COVENANTS
	  	 	90	 
	 Section 6.1
	 	Indebtedness	  	 	90	 

  
 -ii- 

							
	 Section 6.2
	 	Liens	  	 	92	 
	 Section 6.3
	 	Fundamental Changes; Asset Sales	  	 	95	 
	 Section 6.4
	 	Restricted Payments	  	 	97	 
	 Section 6.5
	 	Restrictive Agreements	  	 	99	 
	 Section 6.6
	 	Transactions with Affiliates	  	 	99	 
	 Section 6.7
	 	Investments	  	 	100	 
	 Section 6.8
	 	Financial Covenant	  	 	101	 
	 Section 6.9
	 	Certain Payments of Indebtedness; Amendments to Material Agreements	  	 	102	 
	 ARTICLE VII GUARANTY
	  	 	103	 
	 Section 7.1
	 	Guaranty of the Obligations	  	 	103	 
	 Section 7.2
	 	Payment by Guarantors	  	 	103	 
	 Section 7.3
	 	Liability of Guarantors Absolute	  	 	103	 
	 Section 7.4
	 	Waivers by Guarantors	  	 	105	 
	 Section 7.5
	 	Guarantors’ Rights of Subrogation	  	 	106	 
	 Section 7.6
	 	Subordination of Other Obligations	  	 	106	 
	 Section 7.7
	 	Continuing Guaranty	  	 	106	 
	 Section 7.8
	 	Authority of Guarantors or the Borrower	  	 	106	 
	 Section 7.9
	 	Financial Condition of the Borrower	  	 	106	 
	 Section 7.10
	 	Bankruptcy, Etc.	  	 	107	 
	 ARTICLE VIII EVENTS OF DEFAULT
	  	 	107	 
	 ARTICLE IX THE ADMINISTRATIVE AGENT
	  	 	110	 
	 ARTICLE X MISCELLANEOUS
	  	 	116	 
	 Section 10.1
	 	Notices	  	 	116	 
	 Section 10.2
	 	Waivers; Amendments	  	 	117	 
	 Section 10.3
	 	Expenses: Limitation of Liability; Indemnity	  	 	119	 
	 Section 10.4
	 	Successors and Assigns	  	 	121	 
	 Section 10.5
	 	Survival	  	 	126	 
	 Section 10.6
	 	Counterparts; Integration; Effectiveness	  	 	126	 
	 Section 10.7
	 	Severability	  	 	126	 
	 Section 10.8
	 	Right of Setoff	  	 	126	 
	 Section 10.9
	 	Governing Law; Jurisdiction; Consent to Service of Process	  	 	127	 
	 Section 10.10
	 	WAIVER OF JURY TRIAL	  	 	127	 
	 Section 10.11
	 	Headings	  	 	128	 
	 Section 10.12
	 	Confidentiality	  	 	128	 
	 Section 10.13
	 	Interest Rate Limitation	  	 	129	 
	 Section 10.14
	 	No Advisory or Fiduciary Responsibility	  	 	130	 

  
 -iii- 

							
	 Section 10.15
	 	Electronic Execution	  	 	130	 
	 Section 10.16
	 	Certain Notices	  	 	131	 
	 Section 10.17
	 	Release of Liens and Guarantees	  	 	131	 
	 Section 10.18
	 	Acknowledgement and Consent to Bail-In of Affected Financial Institutions	  	 	132	 
	 Section 10.19
	 	Acknowledgement Regarding Any Supported QFCs	  	 	133	 
	 Section 10.20
	 	Collateral Matters	  	 	133	 
	 Section 10.21
	 	Credit Bidding	  	 	134	 
	 Section 10.22
	 	Certain ERISA Matters	  	 	135	 

  
 -iv- 

					
	 SCHEDULES

	 Schedule 2.1
	  	—	  	 Commitments

	 Schedule 2.4
	  	—	  	 Existing Letters of Credit

  

					
	 EXHIBITS

	 Exhibit A
	  	—	  	 Form of Assignment and Assumption

	 Exhibit B-l
	  	—	  	 Form of Borrowing Request

	 Exhibit B-2
	  	—	  	 Form of Issuance Notice

	 Exhibit C
	  	—	  	 Form of Interest Election Request

	 Exhibit D-l
	  	—	  	 Form of Revolving Loan Note

	 Exhibit D-2
	  	—	  	 Form of Swing Line Note

	 Exhibit E
	  	—	  	 Form of Compliance Certificate

	 Exhibit F
	  	—	  	 Form of Maturity Date Extension Request

	 Exhibit G
	  	—	  	 Form of Counterpart Agreement

	 Exhibit H
	  	—	  	 Form of Solvency Certificate

	 Exhibit I
	  	—	  	 Form of Portfolio Interest Certificates

	 Exhibit J
	  	—	  	 Form of Beneficial Ownership Certificate

	 Exhibit K
	  	—	  	 Form of Perfection Certificate

  

  
 -v- 

 REVOLVING CREDIT AND GUARANTY AGREEMENT, dated as of June 8, 2021, among TOAST, INC.,
as Borrower, the GUARANTORS party hereto, the LENDERS and ISSUING BANKS party hereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent and Swing Line Lender. 

The Borrower (such term and each other capitalized term used and not otherwise defined herein having the meaning assigned to it in Article
I), requested that the Lenders make Loans to the Borrower on a revolving credit basis and the Issuing Banks issue Letters of Credit at the request and for the account of the Borrower on and after the Effective Date and at any time and from time
to time prior to the Commitment Termination Date. 
 The proceeds of borrowings and Letters of Credit hereunder are to be used for the
purposes described in Section 5.9. The Lenders are willing to establish the credit facility referred to in the preceding paragraph upon the terms and subject to the conditions set forth herein. Accordingly, the parties
hereto agree as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.1 Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 

“ABR” when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing,
bear interest at a rate determined by reference to the Alternate Base Rate. 
 “Acquisition” means any transaction or
series of related transactions resulting in the acquisition by the Borrower or any of its Restricted Subsidiaries, whether by purchase, merger or otherwise, of all or substantially all of the assets of, all of the Equity Interests of, or a business
line or unit or a division of, any Person. 
 “Adjusted LIBO Rate” means, with respect to any Eurodollar Borrowing for any
Interest Period, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate. 

“Administrative Agent” means JPMCB, in its capacity as administrative agent for the Lenders hereunder, or any successor
administrative agent. Where the context requires, references herein to the Administrative Agent shall also include JPMCB acting in its capacity as Collateral Agent under each of the Security Documents. 

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

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

“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Agent-Related
Person” has the meaning assigned to it in Section 10.3(d). 

 “Agreement” means this Revolving Credit and Guaranty Agreement, as the same
may hereafter be modified, supplemented, extended, amended, restated or amended and restated from time to time. 
 “Alternate Base
Rate” means, for any day, a rate per annum equal to the highest of (a) the Prime Rate in effect on such day, (b) the NYFRB Rate in effect on such day plus 1/2 of 1% and (c) the Adjusted LIBO Rate for an Interest Period of one
month commencing on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%. If the Administrative Agent shall have determined (which determination shall be conclusive absent manifest error) that it is
unable to ascertain the NYFRB Rate for any reason, including the inability or failure of the Administrative Agent to obtain sufficient quotations in accordance with the terms of the definition thereof, then the Alternate Base Rate shall be
determined without regard to clause (b) of the preceding sentence until the circumstances giving rise to such inability no longer exist. For purposes of clause (c) above, the Adjusted LIBO Rate on any day shall be based on the Screen Rate
(or if the Screen Rate is not available for such one month Interest Period, the Interpolated Rate) at approximately 11:00 a.m., London time, on such day for deposits in dollars with a maturity of one month. Any change in the Alternate Base Rate due
to a change in the Prime Rate, the NYFRB Rate or the Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate, the NYFRB Rate or the Adjusted LIBO Rate, respectively. If the Alternate Base Rate is
being used as an alternate rate of interest pursuant to Section 2.13 (for the avoidance of doubt, only until any Benchmark Replacement has become effective pursuant to Section 2.13(b)), then the
Alternate Base Rate shall be the greater of clauses (a) and (b) above and shall be determined without reference to clause (c) above. Notwithstanding the foregoing, the Alternate Base Rate shall at no time be less than 1.00% per annum. 

“Ancillary Document” has the meaning assigned to it in Section 10.15. 

“Anti-Corruption Laws” means all applicable laws, rules and regulations concerning or relating to bribery, corruption or
money laundering. 
 “Applicable Percentage” means, with respect to any Lender, the percentage of the total Commitments
represented by such Lender’s Commitment; provided that if any Defaulting Lender exists at such time, the Applicable Percentage shall be calculated disregarding such Defaulting Lender’s Commitment. If the Commitments have terminated
or expired, the Applicable Percentages shall be determined based upon the Commitments most recently in effect, giving effect to any assignments and to any Lender’s status as a Defaulting Lender at the time of determination. 

“Applicable Rate” means, for any day, (a) with respect to any Eurodollar Loan, 1.50% per annum, and (b) with
respect to any ABR Loan, 0.50% per annum. 
 “Application” means an application, in a form as the applicable Issuing Bank
may specify as the form for use by its customers from time to time, executed and delivered by the Borrower to the Administrative Agent and the applicable Issuing Bank, requesting such Issuing Bank to issue a Letter of Credit. 

“Approved Fund” has the meaning set forth in Section 10.4. 

“Arrangers” means JPMCB, Goldman Sachs Lending Partners LLC and Morgan Stanley Senior Funding Inc., in their capacities as
joint lead arrangers and joint bookrunners, and any successors thereto. 
 “Assignment and Assumption” means an assignment
and assumption entered into by a Lender and an assignee (with the consent of any party whose consent is required by Section 10.4), and accepted by the Administrative Agent, in the form of Exhibit A or any other form
approved by the Administrative Agent. 

  
 -2- 

 “Assuming Lender” has the meaning set forth in
Section 2.19(a). 
 “Auto-Extension Letter of Credit” has the meaning set forth in
Section 2.4(a). 
 “Availability Period” means the period from and including the Effective Date
to but excluding the Commitment Termination Date. 
 “Available Incremental Amount” has the meaning set forth in
Section 2.19(a)(ii). 
 “Available Revolving Commitments” means, as of any date, the aggregate
amount of Commitments then in effect minus the aggregate amount of Revolving Exposure then outstanding. 
 “Available
Tenor” means, as of any date of determination and with respect to the then-current Benchmark, as applicable, any tenor for such Benchmark or payment period for interest calculated with reference to such Benchmark, as applicable, that is or
may be used for determining the length of an Interest Period pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of “Interest
Period” pursuant to clause (f) of Section 2.13. 

“Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the
applicable Resolution Authority in respect of any liability of an Affected Financial Institution. 

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

“Bankruptcy Code” means Chapter 11 of Title 11 of the United States Code, as amended from time to time and any successor
statute and all rules and regulations promulgated thereunder. 
 “Basket” means any financial test or ratio (including by
reference to the Total Net Leverage Ratio, Consolidated Total Assets or Liquidity) or any amount, threshold, value or availability, in each case prescribed or required with respect to any Limited Condition Transaction. 

“Benchmark” means, initially, the Adjusted LIBO Rate; provided that if a Benchmark Transition Event, a Term SOFR
Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark -3- Replacement Date have occurred with
respect to the Adjusted LIBO Rate or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to clause
(b) or clause (c) of Section 2.13. 
 “Benchmark Replacement” means, for any Available
Tenor, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date: 

  
 -3- 

 (1) the sum of: (a) Term SOFR and (b) the related Benchmark
Replacement Adjustment; 
 (2) the sum of: (a) Daily Simple SOFR and (b) the related Benchmark Replacement
Adjustment; 
 (3) the sum of: (a) the alternate benchmark rate that has been selected by the Administrative Agent and
the Borrower as the replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate
by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement for the then-current Benchmark for U.S. dollar-denominated syndicated credit facilities at such time
and (b) the related Benchmark Replacement Adjustment; 
 provided that, in the case of clause (1), such Unadjusted Benchmark
Replacement is displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion; provided further that, notwithstanding anything to the
contrary in this Agreement or in any other Loan Document, upon the occurrence of a Term SOFR Transition Event, and the delivery of a Term SOFR Notice, on the applicable Benchmark Replacement Date the “Benchmark Replacement” shall revert to
and shall be deemed to be the sum of (a) Term SOFR and (b) the related Benchmark Replacement Adjustment, as set forth in clause (1) of this definition (subject to the first proviso above). 

If the Benchmark Replacement as determined pursuant to clause (1), (2) or (3) above would be less than the Floor, the Benchmark
Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents. 
 “Benchmark
Replacement Adjustment” means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark
Replacement: 
 (1) for purposes of clauses (1) and (2) of the definition of “Benchmark Replacement,” the
first alternative set forth in the order below that can be determined by the Administrative Agent: 
 (a) the spread
adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) as of the Reference Time such Benchmark Replacement is first set for such Interest Period that has been selected or
recommended by the Relevant Governmental Body for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for the applicable Corresponding Tenor; 

(b) the spread adjustment (which may be a positive or negative value or zero) as of the Reference Time such Benchmark
Replacement is first set for such Interest Period that would apply to the fallback rate for a derivative transaction referencing the ISDA Definitions to be effective upon an index cessation event with respect to such Benchmark for the applicable
Corresponding Tenor; and 

  
 -4- 

 (2) for purposes of clause (3) of the definition of “Benchmark
Replacement,” the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrower for the applicable
Corresponding Tenor giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted
Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such
spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for dollar- denominated syndicated credit facilities; provided that, in the case of clause (1) above, such adjustment is
displayed on a screen or other information service that publishes such Benchmark Replacement Adjustment from time to time as selected by the Administrative Agent in its reasonable discretion. 

“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or
operational changes (including changes to the definition of “Alternate Base Rate,” the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of
interest, timing of borrowing requests or prepayment, conversion or continuation notices, length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent
decides in its reasonable discretion may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market
practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of such Benchmark
Replacement exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents). 

“Benchmark Replacement Date” means the earliest to occur of the following events with respect to the then-current Benchmark:

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

(3) in the case of a Term SOFR Transition Event, the date that is thirty (30) days after the date a Term SOFR Notice is
provided to the Lenders and the Borrower pursuant to Section 2.13(c): or 
 (4) in the case of an
Early Opt-in Election, the sixth (6th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, so long as the Administrative Agent
has not received, by 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, written notice of objection to such Early Opt-in Election from Lenders comprising the Required Lenders. 
 For the avoidance of doubt, (i) if
the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for
such determination and (ii) the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause (1) or (2) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein
with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof). 

  
 -5- 

 “Benchmark Transition Event” means the occurrence of one or more of the
following events with respect to the then-current Benchmark: 
 (1) a public statement or publication of information by or on
behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof),
permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); 

(2) a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or
the published component used in the calculation thereof), the Board, the NYFRB, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator
for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), which states that the administrator of such Benchmark (or such component)
has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor administrator that will
continue to provide any Available Tenor of such Benchmark (or such component thereof); or 
 (3) a public statement or
publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are no
longer representative. 
 For the avoidance of doubt, a “Benchmark Transition Event” will be deemed to have occurred with respect
to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof). 

“Benchmark Unavailability Period” means the period (if any) (x) beginning at the time that a Benchmark Replacement Date
pursuant to clauses (1) or (2) of that definition has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with
Section 2,13 and (y) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder and under any Loan Document in accordance with
Section 2.13. 
 “Beneficial Ownership Certification” means a certification regarding beneficial
ownership required by the Beneficial Ownership Regulation, substantially in the form of Exhibit J. 
 “Beneficial Ownership
Regulation” means 31 C.F.R. § 1010.230. 
 “Beneficiary” means the Administrative Agent, each Issuing Bank
and each Lender. 

  
 -6- 

 “Benefit Plan” means any of (a) an “employee benefit plan”
(as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in and subject to Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for
purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”. 

“BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under, and interpreted in accordance
with, 12 U.S.C. 1841(k)) of such party. 
 “Board” means the Board of Governors of the Federal Reserve System of the United
States of America. 
 “Board of Directors” means the board of directors or comparable governing body of the Borrower or any
committee thereof duly authorized to act on its behalf. 
 “Borrower” means Toast, Inc., a Delaware corporation. 

“Borrowing” means (a) Loans of the same Type, made, converted or continued on the same date and, in the case of
Eurodollar Loans, as to which a single Interest Period is in effect or (b) a Swing Line Loan. 
 “Borrowing Request”
means a request by the Borrower for a Borrowing in accordance with Section 2.5. 
 “Business Day”
means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to remain closed; provided that, when used in connection with a Eurodollar Loan, the term “Business
Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in the London interbank market. 

“Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease
of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the
amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP; provided that, all obligations that are or would have been treated as operating leases for purposes of GAAP prior to the issuance by the
Financial Accounting Standards Board on February 25, 2016 of an Accounting Standards Update (the “ASU”) shall continue to be accounted for as operating leases for purposes of all financial definitions and calculations for
purposes of the Loan Documents (whether or not such operating lease obligations were in effect on such date) notwithstanding the fact that such obligations are required in accordance with the ASU (on a prospective or retroactive basis or otherwise)
to be treated as capitalized lease obligations in the financial statements to be delivered pursuant to the Loan Documents. 

“Capital Products” means any capital advances, loans and other credit products offered to customers by the Borrower or any of
its Subsidiaries in the ordinary course of business (including any pilot of any such product). 
 “Captive Insurance
Subsidiary” means any Subsidiary that is subject to regulation as an insurance company (or any Subsidiary thereof). 

  
 -7- 

 “Cash Equivalents” means 

(1) United States dollars, or money in other currencies received in the ordinary course of business, 

(2) U.S. Government Obligations or certificates representing an ownership interest in U.S. Government Obligations with
maturities not exceeding one year from the date of acquisition, 
 (3) (i) demand deposits, (ii) time deposits and
certificates of deposit with maturities of one year or less from the date of acquisition, (iii) bankers’ acceptances with maturities not exceeding one year from the date of acquisition, and (iv) overnight bank deposits, in each case
with any bank or trust company organized or licensed under the laws of the United States or any State thereof having capital, surplus and undivided profits in excess of $500 million whose short-term debt is rated
“A-2” or higher by S&P or “P-2” or higher by Moody’s, 

(4) repurchase obligations with a term of not more than thirty days for underlying securities of the type described in clauses
(2) and (3) above entered into with any financial institution meeting the qualifications specified in clause (3) above, 

(5) commercial paper rated at least P-1 by Moody’s or A-l by S&P and maturing within one year after the date of acquisition, 
 (6)
securities with maturities of one year or less from the date of acquisition which (or the issuer of which) are rated at least A or A-l by S&P or A2 or P-1 by
Moody’s, 
 (7) money market funds at least 90% of the assets of which consist of investments of the type described in
clauses (1) through (6) above; 
 (8) in the case of any Foreign Subsidiary, other short-term investments that are
analogous to the foregoing, are of comparable credit quality and are customarily used by companies in the jurisdiction of such Foreign Subsidiary for cash management purposes; and 

(9) solely with respect to any Captive Insurance Subsidiary, any investment that the Captive Insurance Subsidiary is not
prohibited to make in accordance with applicable law. 
 “Cash Management Services” means cash management, treasury
management and related services provided to the Borrower or any Restricted Subsidiary, including treasury, depository, foreign exchange, return items, overdraft, controlled disbursement, cash sweeps, zero balance arrangements, temporary advances,
merchant stored value cards, e-payables, electronic funds transfer, interstate depository network and automatic clearing house transfer (including the Automated Clearing House processing of electronic funds
transfers through the direct Federal Reserve Fedline system) services and credit cards, credit card processing services, credit and debit card payment processing services, debit cards, stored value cards, virtual cards (including single use virtual
card accounts) and commercial cards (including so-called ‘“purchase cards”, “procurement cards” or “p-cards”) arrangements. 

“CFC” means (a) each Subsidiary that is a “controlled foreign corporation” (within the meaning of
Section 957) and (b) each Subsidiary of any such controlled foreign corporation described in clause (a) above. For purposes of this definition, all Section references are to the Code. 

  
 -8- 

 “CFC Holdco” means each Subsidiary substantially all the assets of which
consist of Equity Interests in (or Equity Interests in and Indebtedness of) (i) one or more CFCs or (ii) a Subsidiary that otherwise constitutes a CFC Holdco. 

“Change in Control” means (a) prior to an IPO, the failure by the holders of the Borrower’s Equity Interests as of
the Effective Date to continue to own, beneficially and of record, Equity Interests in the Borrower representing at least 50.1% of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests in the Borrower;
(b) after the consummation of an IPO, the acquisition of ownership, directly or indirectly, beneficially or of record, by any Person or group (within the meaning of the Securities Exchange Act and the rules of the Securities and Exchange
Commission thereunder), other than the Permitted Holders, individually or in the aggregate, of Equity Interests representing more than 35% of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests in the
Borrower; or (c) persons who were (i) directors of the Borrower on the date hereof, (ii) nominated by the Board of Directors or whose nomination for election by the stockholders of the Borrower was approved by the Board of Directors
at any time before such persons actually commenced their service as directors or (iii) appointed by directors that were directors of the Borrower or directors nominated as provided in the preceding clause (ii), ceasing to occupy a majority of
the seats (excluding vacant seats) on the Board of Directors; provided that the consummation of an IPO shall not be a Change in Control. 

“Change in Law” means the occurrence, after the Effective Date, of any of the following: (a) the adoption or taking
effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority or (c) the making or
issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that, notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and
Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel
Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the
date enacted, adopted or issued. 
 “Class” when used in reference to any Commitment, refers to whether such Commitment is
a Commitment to make Revolving Loans (other than under an Incremental Revolving Commitment Tranche) or a commitment under an Incremental Revolving Commitment Tranche. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated and
rulings issued thereunder. 
 “Collateral” means all property and interests in property now owned or hereafter acquired in
or upon which a Lien has been or is purported or intended to have been granted to the Administrative Agent, the Collateral Agent or any Lender under any of the Security Documents. 

“Collateral Agent” means JPMCB, in its capacity as collateral agent for the Secured Parties and any successor thereto in such
capacity. 
 “Collateral Agreement” means the Collateral Agreement among the Borrower, the other Loan Parties and the
Collateral Agent, dated the Effective Date, together with all supplements thereto. 
 “Collateral and Guarantee
Requirement” means, at any time, the requirement that: 

  
 -9- 

 (a) the Collateral Agent shall have received from the Borrower and each
Designated Subsidiary either (i) a counterpart of the Collateral Agreement duly executed and delivered on behalf of such Person or (ii) in the case of any Person that becomes a Designated Subsidiary after the Effective Date, (A) a
supplement to the Collateral Agreement, in a form reasonably acceptable to the Administrative Agent and (B) a Counterpart Agreement, in each case duly executed and delivered on behalf of such Designated Subsidiary, together with documents and
opinions of the type referred to in paragraphs (c) and (d) of Section 4.1 with respect to such Designated Subsidiary within 60 days of such Person becoming a Designated Subsidiary (or such longer period as the
Administrative Agent may, in its reasonable discretion, agree to in writing); 
 (b) (i) all Equity Interests (other than any
Excluded Assets) in any Subsidiary owned by or on behalf of any Loan Party shall have been pledged in favor of the Collateral Agent, for the benefit of the Secured Parties, pursuant to the Collateral Agreement and (ii) the Collateral Agent
shall, to the extent required by the Collateral Agreement, have received any certificates or other instruments representing such Equity Interests (to the extent then in existence), together with undated stock powers or other instruments of transfer
with respect thereto endorsed in blank; 
 (c) (i) all Indebtedness of the Borrower and its Restricted Subsidiaries and
(ii) all Indebtedness of any other Person in a principal amount of $2,500,000 or more, in each case, that is owing to any Loan Party shall be evidenced by a promissory note and shall have been pledged pursuant to the Collateral Agreement, and
the Collateral Agent shall have received all such promissory notes in a principal amount of $2,500,000 or more, together with undated instruments of transfer with respect thereto endorsed in blank; 

(d) Uniform Commercial Code financing statements to be filed in the jurisdiction of formation of each Loan Party and
intellectual property security agreements with respect to the Intellectual Property of each Loan Party, to be filed in the United States Patent and Trademark Office and the United States Copyright Office, as applicable, shall have been filed,
registered or recorded or delivered to the Collateral Agent for filing, registration or recording; and 
 (e) the Collateral
Agent shall have received a counterpart, duly executed and delivered by the applicable Loan Party and the applicable depositary bank of a Control Agreement with respect to each deposit account (other than any deposit account constituting Excluded
Assets) maintained by any Loan Party with any depositary bank; provided that no such Control Agreements shall be required at any time that the primary operating accounts of the Borrower and the other Loan Parties are maintained with a Lender
or an Affiliate thereof. 

  
 -10- 

 Notwithstanding the foregoing provisions of this definition or anything in this Agreement or
any other Loan Document to the contrary, (a) the foregoing definition shall not require the creation or perfection of pledges of or security interests in, or the obtaining of legal opinions or other deliverables with respect to, particular
assets of the Loan Parties, or the Guaranty provided by any Guarantor, if, and for so long as the Administrative Agent, in consultation with the Borrower, determines in its reasonable discretion that the cost of creating or perfecting such pledges
or security interests in such assets, or obtaining such legal opinions or other deliverables in respect of such assets, or incurring such Guaranty (taking into account any adverse tax consequences to the Borrower and its Subsidiaries (including the
imposition of withholding or other material Taxes)), shall be excessive in view of the benefits to be obtained by the Lenders therefrom, (b) Liens required to be granted from time to time pursuant to the term “Collateral and Guarantee
Requirement” shall be subject to exceptions and limitations set forth in the Security Documents, (c) except as required pursuant to clause (e) above, in no event shall control agreements or other control or similar arrangements be
required with respect to deposit accounts, securities accounts, commodities accounts or other assets specifically requiring perfection by control agreements (other than certificated securities) so long as, in the case of deposit accounts, the
primary operating accounts of the Loan Parties are maintained at any Lender or an affiliate thereof, (d) no perfection actions shall be required with respect to (x) vehicles and other assets subject to certificates of title or
(y) real property, (e) no perfection actions shall be required with respect to promissory notes evidencing Indebtedness for borrowed money in a principal amount of less than $2,500,000, (f) no actions in any
non-U.S. jurisdiction or required by the laws of any non-U.S. jurisdiction shall be required to be taken to create any security interests in assets located or titled
outside of the United States (including any Equity Interests of Foreign Subsidiaries and any foreign Intellectual Property) or to perfect or make enforceable any security interests in any such assets (it being understood that there shall be no
security agreements or pledge agreements governed under the laws of any non-U.S. jurisdiction), (g) no actions shall be required to perfect a security interest in letter of credit rights or commercial tort
claims (other than the filing of UCC financing statements), (h) no Loan Party shall be required to deliver or obtain any landlord lien waivers, estoppel certificates or collateral access agreements or letters or similar agreements, (i) in no
event shall the Collateral include any Excluded Assets and (j) without limitation of any of the foregoing, no perfection actions shall be required except as set forth in items (a) through (e) in the preceding paragraph. The Administrative
Agent may grant extensions of time for the creation and perfection of security interests in or the obtaining of legal opinions or other deliverables with respect to particular assets or the Guarantee by any Subsidiary (including extensions beyond
the Effective Date or in connection with assets acquired, or Subsidiaries formed or acquired, after the Effective Date) where it, in consultation with the Borrower, determines in its sole discretion that such action cannot be accomplished without
undue effort or expense by the time or times at which it would otherwise be required to be accomplished by this Agreement or the Security Documents. 

“Commitment” means, with respect to each Lender, the commitment of such Lender to make Revolving Loans hereunder and to
acquire participations in Letters of Credit and Swing Line Loans hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s Loans hereunder, as such commitment may be (a) reduced from time to time pursuant
to Section 2.8, (b) increased from time to time pursuant to Section 2,19 and (c) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to
Section 2.20 or Section 10.4. The initial amount of each Lender’s Commitment as of the Effective Date is set forth on Schedule 2.1. The initial aggregate amount of the Lenders’
Commitments as of the Effective Date is $330,000,000. 
 “Commitment Increase” has the meaning set forth in
Section 2.19(a). 
 “Commitment Increase Supplement” has the meaning set forth in
Section 2.19(b). 
 “Commitment Termination Date” means the earliest to occur of (a) the
Maturity Date, (b) the date the Commitments are permanently reduced to zero pursuant to Section 2.8, and (c) the date of the termination of the Commitments pursuant to Article VIII. 

“Competitors” has the meaning set forth in the definition of “Disqualified Lender”. 

“Common Stock” means the common stock of the Borrower. 

“Consenting Lender” has the meaning set forth in Section 2.20(a). 

  
 -11- 

 “Consolidated Credit EBITDA” means, for any period, Consolidated Net Income
for such period plus, all as determined on a consolidated basis, without duplication and to the extent reflected as a charge in the statement of such Consolidated Net Income for such period, the sum of: (a) consolidated tax expense based
on income, profits or capital, including state, franchise, capital and similar taxes and withholding taxes paid or accrued during such period, (b) total interest expense, and, to the extent not reflected in such total interest expense, any
losses on hedging obligations or other derivative instruments entered into for the purpose of hedging interest rate risk, net of gains on such hedging obligations or such derivative instruments, and financial institution and letter of credit fees
and costs of surety bonds in connection with financing activities plus expenses associated with the equity component of, and any mark to market losses with respect to, convertible debt instruments, (c) depreciation and amortization expense,
(d) amortization of intangibles (including, but not limited to, goodwill), (e) extraordinary, unusual or non-recurring costs, fees, charges and other expenses, including fees, charges and expenses
incurred that are (or are expected to be within one year of the end of such period with a deduction in the subsequent period to the extent not so reimbursed or paid) reimbursed or actually paid by a third party or under indemnification or
reimbursement provisions, (f) costs or expenses reasonably identified by the Borrower as incurred in connection with entry into or expansion of new markets, strategic initiatives and contracts, software development and new systems design, new
product offerings, project start-up costs, and related integration and systems establishment costs, including any ongoing operating losses in respect thereof for a period of no more than 24 months after
commencement of such operations or expansion, (g) non-cash equity-based compensation expenses and payroll tax expense related to equity-based compensation expenses, (h) any other non-cash charges, non-cash expenses or non-cash losses (excluding any such charge, expense or loss incurred in the ordinary course of
business that constitutes an accrual of, or a reserve for, cash charges for any future period); provided, however that cash payments made in such period or in any future period in respect of such
non-cash charges, expenses or losses (excluding any such charge, expense or loss incurred in the ordinary course of business that constitutes an accrual of, or a reserve for, cash charges for any future
period) shall be subtracted from Consolidated Net Income in calculating Consolidated Credit EBITDA in the period when such payments are made, (i) transition, integration, business optimization and similar fees, charges and expenses related to
acquisitions, business combinations, dispositions and exiting lines of business, (j) restructuring, severance, discontinued operations or similar charges, (k) pro forma “run rate” cost savings, operating expense reductions and
synergies (including expected revenue enhancements) relating to Acquisitions, business combinations, dispositions and other initiatives that are reasonably identifiable and projected in good faith by the Borrower to result from actions that have
been taken or with respect to which substantial steps have been taken or initiated or are expected to be taken with the first eight full fiscal quarters after such event, (1) accruals or expenses related to settlements or payment of legal
claims, (m) transaction costs associated with this Agreement and the transactions contemplated hereby and with any actual, proposed or contemplated issuance of Equity Interests (including any expense relating to enhanced accounting functions or
other costs associated with becoming a public company), the making of any Investment, Acquisition, Joint Venture or disposition, or the issuance or incurrence of Indebtedness (including Incremental Equivalent Debt, Permitted Convertible Indebtedness
and any Permitted Call Spread Transactions) or refinancings, (n) in connection with Acquisitions of foreign Subsidiaries, expenses recognized on conversion from IFRS to GAAP for items capitalized under IFRS but expensed under GAAP and
(o) cash receipts (or any netting arrangements resulting in reduced cash expenditures) not included in the calculation of Consolidated Net Income in any period to the extent non-cash gains relating to
such income were deducted in the calculation of Consolidated Credit EBITDA pursuant to clause (iii) below for any previous period and not added back; provided that, for any period, the aggregate amount added pursuant to clauses (f), (i),
(j) and (k) shall not exceed 25% of Consolidated Credit EBITDA for the applicable period (calculated after giving effect to such addbacks); and minus, to the extent included in the statement of such Consolidated Net Income for such
period, the sum of: (i) interest income, (ii) any extraordinary income or gains determined in accordance with GAAP and (iii) any other non-cash income other than accrual of revenue in the
ordinary course of business (excluding any items that represent the reversal of any accrual of, or cash reserve for, anticipated cash charges in any prior period that are described in the parenthetical to clause (h) above). 

  
 -12- 

 “Consolidated Net Income” means for any period, the net income (loss) of
the Borrower and its Restricted Subsidiaries on a consolidated basis determined in conformity with GAAP; provided, however, that there will not be included in the determination of Consolidated Net Income the effect of: (a) with
respect to any Subsidiary that is not a Wholly-Owned Subsidiary but whose net income is consolidated in whole or in part with the net income of the Borrower, the income of such Subsidiary solely to the extent that the declaration or payment of
dividends or similar distributions by such Subsidiary of that income is not permitted by operation of the terms of its organizational documents or any law applicable to such Subsidiary; provided that Consolidated Net Income shall be increased
by the amount of dividends or distributions or other payments that are actually paid by such Subsidiary to the Borrower or any other Subsidiary; (b) any net gain (or loss) realized upon the sale or other disposition of any asset or disposed
operations (including pursuant to any sale and leaseback) which is not sold or otherwise disposed of in the ordinary course of business; (c) the cumulative effect of a change in accounting principles; and (d) any recapitalization or
purchase accounting effects including, but not limited to, adjustments to inventory, property and equipment, software and other intangible assets and deferred revenue in component amounts required or permitted by GAAP and related authoritative
pronouncements, as a result of any consummated Acquisition, or the amortization or write-off of any amounts thereof (including any write-off of in process research and
development). In addition, proceeds from any business interruption insurance received in such period or which is reasonably expected to be received in a subsequent period and within one year of the underlying loss shall be added to Consolidated Net
Income; provided, that if not so received within such one-year period, such amount shall be subtracted in the subsequent calculation period. 

“Consolidated Total Assets” means, at any date of determination, the total amount of assets of the Borrower and its
Restricted Subsidiaries (or of any Subsidiary of the Borrower and its Restricted Subsidiaries, as the context requires), as set forth on the most recent financial statements delivered pursuant to Sections 5.1(a) and (b) (or, prior to
the first such delivery, the financial statements for the fiscal quarter ended March 31, 2021 delivered pursuant to Section 3.4(a)). 

“Consolidated Total Indebtedness” means, as of any date of determination, the aggregate principal amount of Indebtedness of
the Borrower and its Restricted Subsidiaries outstanding on such date, determined on a consolidated basis in accordance with GAAP, consisting only of Indebtedness for borrowed money, Capital Lease Obligations and purchase money Indebtedness;
provided, Consolidated Total Indebtedness will not include Indebtedness that is non-recourse to the Borrower and its Restricted Subsidiaries, undrawn amounts under revolving credit facilities and
Indebtedness in respect of (1) letter of credit, bank guarantees and performance or similar bonds, except to the extent of obligations in respect of drawn standby letters of credit which have not been reimbursed within three (3) Business
Days, (2) any purchase price adjustments, earnouts, holdbacks and other similar deferred consideration payable in connection with Permitted Acquisitions to the extent contingent, not fixed or less than 10 Business Days past due and
(3) obligations under Swap Agreements. The dollar-equivalent principal amount of any Indebtedness denominated in a foreign currency will reflect the currency translation effects, determined in accordance with GAAP, of Swap Agreements for
currency exchange risks with respect to the applicable currency in effect on the date of determination of the dollar-equivalent principal amount of such Indebtedness. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Control Agreement” means, with respect to any deposit account (other than any deposit account constituting Excluded Assets)
maintained by any Loan Party, a control agreement in form and substance reasonably satisfactory to the Administrative Agent, duly executed and delivered by such Loan Party and the depositary bank with which such account is maintained. 

  
 -13- 

 “Copyrights” means, with respect to any Person, all of such Person’s
right, title, and interest in and to the following: (a) all copyrights, rights and interests in copyrights, works protectable by copyright, copyright registrations, and copyright applications; (b) all renewals of any of the foregoing;
(c) all income, royalties, damages, and payments now or hereafter due and/or payable under any of the foregoing, including, without limitation, damages or payments for past or future infringements for any of the foregoing; (d) the right to
sue for past, present, and future infringements of any of the foregoing; and (e) all rights corresponding to any of the foregoing throughout the world. 

“Corresponding Tenor” with respect to a Benchmark Replacement means a tenor (including overnight) having approximately the
same length (disregarding business day adjustment) as the applicable tenor for the applicable Interest Period with respect to the LIBO Rate. 

“Counterpart Agreement” means a Counterpart Agreement substantially in the form of Exhibit G delivered by a Loan Party
pursuant to Section 5.10. 
 “Covered Entity” means any of the following: 

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

 (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b);
or 
 (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. §
382.2(b). 
 “Covered Party” has the meaning assigned to it in Section 10.19. 

“Credit Extension” has the meaning set forth in Section 4,2. 

“Daily Simple SOFR” means, for any day, SOFR, with the conventions for this rate (which may include a lookback) being
established by the Administrative Agent in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for business loans; provided that if the
Administrative Agent decides that any such convention is not administratively feasible for the Administrative Agent, then the Administrative Agent may establish another convention in its reasonable discretion. 

“Debtor Relief Laws” means the Bankruptcy Code, and all other liquidation, conservatorship, bankruptcy, assignment for the
benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States or other applicable jurisdictions from time to time in effect. 

“Declining Lender” has the meaning set forth in Section 2.20(a). 

“Default” means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both
would, unless cured or waived, become an Event of Default. 
 “Default Right” has the meaning assigned to that term in, and
shall be interpreted in accordance with, 12 C.F.R. §§ 252.81,47.2 or 382.1, as applicable. 

  
 -14- 

 “Defaulting Lender” means, subject to
Section 2.21(c), any Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder, (ii) fund any portion of its
participations in Letters of Credit or Swing Line Loans or (iii) pay to the Administrative Agent, any Issuing Bank or any other Lender any other amount required to be paid by it hereunder within three Business Days of the date when due, unless,
in the case of clause (i) above, such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Lender’s good faith determination that one or more conditions precedent to such funding or
payment (each of which conditions precedent, together with any applicable Default, shall be specifically identified in such writing) has not been satisfied, (b) has notified the Borrower, any Issuing Bank, Swing Line Lender or the
Administrative Agent in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan
hereunder and states that such position is based on such Lender’s good faith determination that a condition precedent to funding (which condition precedent, together with any applicable Default, shall be specifically identified in such writing
or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by the Administrative Agent, any Issuing Bank or the Borrower, to confirm in writing to the Administrative Agent, the Issuing Banks and the
Borrower that it will comply with its prospective funding obligations and participations in then outstanding Letters of Credit and Swing Line Loans hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this
clause (c) upon receipt of such written confirmation by the Administrative Agent, the Issuing Banks and the Borrower), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any
Debtor Relief Law, (ii) become the subject of a Bail-In Action or (iii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or
similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity; provided that a Lender
shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result
in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate,
disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under clauses (a) through (d) above shall be conclusive and binding absent manifest
error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.21(c)) upon delivery of written notice of such determination to the Borrower, each Issuing Bank, the Swing Line Lender and each Lender.

 “Designated Subsidiary” means, at any time of determination, each Wholly Owned Subsidiary of the Borrower that is a
Restricted Subsidiary and is not an Excluded Subsidiary. 
 “Direct Borrower Obligations” means any Obligations of the
Borrower in its capacity as the Borrower under this Agreement. 
 “Disbursement Date” has the meaning set forth in
Section 2.4(d). 
 “Disclosed Matters” means the actions, suits and proceedings and the
environmental matters disclosed in Schedule 3.6 to the Disclosure Letter. 
 “Disclosure Letter” means the
disclosure letter, dated as of the Effective Date, delivered by the Borrower to the Administrative Agent and the Lenders. 

  
 -15- 

 “Disqualified Equity Interest” means any Equity Interest which, by its
terms (or by the terms of any security or other Equity Interests into which it is convertible or for which it is exchangeable), or upon the -16- happening of any event
or condition (i) matures (excluding any maturity as the result of an optional redemption by the issuer thereof) or is mandatorily redeemable (other than solely for Equity Interests which are not otherwise Disqualified Equity Interests),
pursuant to a sinking fund obligation or otherwise, (ii) is redeemable at the option of the holder thereof (other than solely for Equity Interests which are not otherwise Disqualified Equity Interests and the payment in cash in lieu of the
issuance of fractional shares of such Equity Interests), in whole or in part, or (iii) is or becomes convertible into or exchangeable (unless at the sole option of the issuer thereof) for Indebtedness or any other Equity Interests that would
constitute Disqualified Equity Interests, in each case, prior to the date that is 181 days after the Maturity Date then in effect; provided that (a) Equity Interests will not constitute Disqualified Equity Interests solely because of
provisions giving holders thereof the right to require repurchase or redemption upon an “asset sale” or “change of control” occurring prior to the date that is 181 days after the latest Maturity Date then in effect if the payment
upon such redemption or repurchase is contractually subordinated in right of payment to the Obligations and (b) an Equity Interest in any Person that is issued to any employee or to any plan for the benefit of employees or by any such plan to
such employees shall not constitute a Disqualified Equity Interest solely because it may be required to be repurchased by such Person or any of its subsidiaries in order to satisfy applicable statutory or regulatory obligations or as a result of
such employee’s termination, death or disability. 
 “Disqualified Institutions” has the meaning set forth in the
definition of “Disqualified Lender”. 
 “Disqualified Lender” means, collectively, (a) any Person
(other than bona fide commercial banks) that is a competitor or potential competitor of the Borrower and its Subsidiaries or any investor in any such competitor or potential competitor, in each case as determined in good faith by the Borrower and to
the extent identified by the Borrower to the Administrative Agent and the Lenders (including after the Effective Date which may be delivered in a form of a list provided to the Administrative Agent) by name in writing from time to time
(“Competitors”), (b) those banks, financial institutions and other Persons separately identified by name by the Borrower to the Administrative Agent in writing on or before the Effective Date, (c) any Person (other than
(x) any Affiliates of Lenders as of the Effective Date or (y) any Affiliate of a Lender approved by the Borrower and the Administrative Agent (such approval, in each case, not to be unreasonably withheld, delayed or conditioned)) with a
long term unsecured credit rating of less than BBB- by S&P or Fitch Ratings Ltd. (or any successor thereto) or less than Baa3 by Moody’s, (d) any Person (including an Affiliate or Approved Fund
of a Lender) whose primary activity is the trading or acquisition of distressed debt; provided that, for purposes of Section 10.12, senior employees of Lenders or their Affiliates who are required, in accordance with
industry regulations or the Lenders’ internal policies and procedures to act in a supervisory capacity and the Lenders’ internal legal, compliance, risk management, credit or investment committee members shall not constitute Disqualified
Lenders as a result of this clause (d) (those banks, financial institutions and other Persons under clauses (b) through (d) are collectively referred to as the “Disqualified Institutions”) and (e) any Subsidiary of a
Competitor or a Disqualified Institution, other than bona fide debt funds that would not be a Competitor or a Disqualified Institution but for this clause (e), that are (x) identified in writing by the Borrower to the Administrative Agent and
the Lenders (including after the Effective Date which may be delivered in a form of a list provided to the Administrative Agent) by name in writing from time to time or (y) clearly identifiable as affiliates solely on the basis of the
similarity of its name (provided that neither the Administrative Agent nor any Lender shall have any obligation to carry out due diligence in order to identify such affiliates); provided that the foregoing clauses (c) and (d)
shall be inapplicable during any time that an Event of Default has occurred and is continuing. The identification of any Competitor or Disqualified Institution after the Effective Date shall become effective three Business Days after delivery to the
Administrative Agent and the Lenders (including by delivering a list provided to the Administrative Agent), and shall not apply retroactively to disqualify the assignment, participation or other transfer of an interest in Commitments or Loans that
was effective prior to the effective date of such supplement (but such Person shall not be able to increase its Commitments or participations hereunder); provided that, for the avoidance of doubt, such Person shall thereafter be considered a
Disqualified Lender. The Disqualified Lenders shall be identified to the Lenders by the Administrative Agent (which may be in the form of notice posted to the Platform). 

  
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 “Dollar Equivalent” means, for any amount, at the time of determination
thereof, (a) if such amount is expressed in dollars, such amount and (b) if such amount is expressed in a Permitted Foreign Currency, the equivalent of such amount in dollars determined by using the rate of exchange for the purchase of
dollars with the Permitted Foreign Currency last provided (either by publication or otherwise provided to the Administrative Agent) by Reuters on the Business Day (New York City time) immediately preceding the date of determination or if such
service ceases to be available or ceases to provide a rate of exchange for the purchase of dollars with the Permitted Foreign Currency, as provided by such other publicly available information service which provides that rate of exchange at such
time in place of Reuters chosen by the Administrative Agent in its sole discretion (or if such service ceases to be available or ceases to provide such rate of exchange, the equivalent of such amount in dollars as determined by the Administrative
Agent using any method of determination it deems appropriate in its sole discretion). 
 “dollars” or “$” refers
to lawful money of the United States of America. 
 “Domestic Subsidiary” means any Subsidiary that is incorporated or
organized under the laws of the United States, any state thereof or in the District of Columbia (other than a Subsidiary that is a CFC Holdco). 

“DO List” has the meaning set forth in Section 10.4(e). 

“Early Opt-in Election” means the occurrence of: 

(1) a notification by the Administrative Agent to (or the request by the Borrower to the Administrative Agent to notify) each
of the other parties hereto that at least five currently outstanding dollar-denominated syndicated credit facilities at such time contain (as a result of amendment or as originally executed) a SOFR-based rate (including SOFR, Term SOFR or any other
rate based upon SOFR) as a benchmark rate (and such syndicated credit facilities are identified in such notice and are publicly available for review), and 

(2) the joint election by the Administrative Agent and the Borrower to trigger a fallback from LIBO Rate and the provision by
the Administrative Agent of written notice of such election to the Lenders. 
 “EEA Financial Institution” means
(a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution
described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to
consolidated supervision with its parent. 
 “EEA Member Country” means any of the member states of the European Union,
Iceland, Liechtenstein, and Norway. 

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

“Effective Date” means the date on which the conditions specified in Section 4.1 are satisfied (or
waived in accordance with Section 10.2). 
 “Electronic Signature” means an electronic sound,
symbol, or process attached to, or associated with, a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or record. 

“Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices
or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources, the generation, use, handling, transportation, storage, treatment,
disposal, management, release or threatened release of any Hazardous Material or to health and safety matters. 
 “Environmental
Liability” means any liability, contingent or otherwise (including any liability for damages, costs of investigation, reclamation or remediation, fines, penalties or indemnities), of the Borrower or any Subsidiary directly or indirectly
resulting from or based upon (a) compliance or noncompliance with any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous
Materials, (d) the presence, release or threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any
of the foregoing. 
 “Equity Interests” means shares of capital stock, partnership interests, membership interests in a
limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such equity interest; provided that
Equity Interests shall not include (a) any debt securities that are convertible into or exchangeable for any combination of Equity Interests and/or cash and (b) Permitted Call Spread Transactions. 

“ERISA” means the U.S. Employee Retirement Income Security Act of 1974, as amended from time to time, and the regulations
promulgated and rulings issued thereunder. 
 “ERISA Affiliate” means any person that for purposes of Title I or Title IV
of ERISA or Section 412 of the Code would be deemed at any relevant time to be a single employer or otherwise aggregated with a Loan Party or a Subsidiary under Section 414(b), (c), (m) or (o) of the Code or Section 4001 of
ERISA. 
 “ERISA Event” means any one or more of the following: (a) any reportable event, as defined in
Section 4043 of ERISA, with respect to a Plan; (b) the termination of any Plan under Section 4041 of ERISA; (c) the institution of proceedings by the PBGC under Section 4042 of ERISA for the termination of, or the
appointment of a trustee to administer, any Plan; (d) the failure to make a required contribution to any Plan that would result in the imposition of a lien or other encumbrance or the provision of security under Section 430 of the Code or
Section 303 or 4068 of ERISA, or the arising of such a lien or encumbrance; 

  
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 (e) any Loan Party, or any ERISA Affiliate requests a minimum funding waiver or fails to
satisfy the minimum funding standard under Section 412 of the Code or Section 302 of ERISA (whether or not waived); (f) a determination that any Plan is, or is reasonably expected to be, considered an
at-risk plan within the meaning of Section 430 of the Code or Section 303 of ERISA; (g) engaging in a non-exempt prohibited transaction within the meaning
of Section 4975 of the Code or Section 406 of ERISA with respect to a Plan; (h) the complete or partial withdrawal of any Loan Party, any Subsidiary or any ERISA Affiliate from a Multiemployer Plan; or (i) a determination that
any Multiemployer Plan is in endangered or critical status under Section 432 of the Code or Section 305 of ERISA or is, or is expected to be, “insolvent” within the meaning of Section 4245 of ERISA. 

“EU Bail-In Legislation Schedule” means the EU
Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time. 

“Eurodollar”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate. 
 “Event of Default” has the
meaning set forth in Article VIII 
 “Excluded Assets” means each of the following: 

(a) any asset the grant of a security interest in which would (i) be prohibited by any enforceable anti-assignment
provision set forth in any contract relating to such asset that is permitted or otherwise not prohibited by the terms of this Agreement or (ii) violate the terms of any contract relating to such asset that is permitted or otherwise not
prohibited by the terms of this Agreement (in the case of clause (i) above and this clause (ii), after giving effect to any applicable anti-assignment provision of the UCC or other requirements of applicable law); it being understood that the
term “Excluded Asset” shall not include proceeds or receivables arising out of any contract described in this clause (a) to the extent that the assignment of such proceeds or receivables is expressly deemed to be effective under the
UCC or any other requirement of applicable law notwithstanding the relevant prohibition, violation or termination right, 

(b) (i) the Equity Interests of any
not-for-profit or special purpose subsidiary, and/or (ii) Equity Interests representing in excess of 65% of the Equity Interests of any CFC or CFC Holdco, 

(c) any intent-to-use (or similar) Trademark
application prior to the filing and acceptance of a “Statement of Use” or “Amendment to Allege Use” notice and/or filing with respect thereto, 

(d) any asset, the grant of a security interest in which would (i) require any governmental consent, approval, license or
authorization that has not been obtained, (ii) be prohibited by requirements of applicable law, except, in each case of clause (i) above and this clause (ii), to the extent such requirement or prohibition would be rendered
ineffective under the UCC or any other applicable law notwithstanding such requirement or prohibition; it being understood that the term “Excluded Asset” shall not include proceeds or receivables arising out of any asset described in
clause (d)(i) or clause (d)(ii) to the extent that the assignment of such proceeds or receivables is expressly deemed to be effective under the UCC or any other requirement of applicable law notwithstanding the relevant requirement or prohibition or
(iii) result in material adverse tax consequences to the Borrower or any of its Subsidiaries as reasonably determined by the Borrower in consultation with the Administrative Agent, including as a result of the operation of Section 956 of
the Code, 

  
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 (e) (i) any leasehold real property interests and (ii) any fee owned
real property, 
 (f) any Margin Stock, 

(g) any interest in any partnership, joint venture or non-Wholly-Owned Subsidiary which
cannot be pledged without (i) the consent of one or more third parties other than the Borrower or any of its Subsidiaries under the organizational documents (and/or shareholders’ or similar agreement) of such partnership, joint venture or non-Wholly-Owned Subsidiary or (ii) giving rise to a “right of first refusal”, a “right of first offer” or a similar right permitted or otherwise not prohibited by the terms of this
Agreement that may be exercised by any third party other than the Borrower or any of its Subsidiaries in accordance with the organizational documents (and/or shareholders’ or similar agreement) of such partnership, joint venture or non-Wholly-Owned Subsidiary, 
 (h) (i) motor vehicles, aircraft, aircraft engines and
other assets subject to certificates of title, (ii) letter-of-credit rights not constituting supporting obligations of other Collateral and (iii) Commercial
Tort Claims with a value (as reasonably estimated by the Borrower) of less than $2,500,000, except, in each case of clauses (i)-(iii), to the extent a security interest therein can be perfected solely by the filing of a UCC financing statement
(including a Transmitting Utility filing), 
 (i) any lease, license or agreement or any asset subject thereto (including
pursuant to a purchase money security interest, Capital Lease Obligation or similar arrangement) that is, in each case, permitted by this Agreement to the extent that the grant of a security interest therein would violate or invalidate such lease,
license or agreement or purchase money, Capital Lease Obligation or similar arrangement or trigger a right of termination in favor of any other party thereto (other than the Borrower or any of its Subsidiaries) after giving effect to the applicable
anti-assignment provisions of the UCC or any other applicable Law; it being understood that the term “Excluded Asset” shall not include any proceeds or receivables arising out of any asset described in this clause (i) to the extent
that the assignment of such proceeds or receivables is expressly deemed to be effective under the UCC or any other applicable Law notwithstanding the relevant requirement or prohibition, 

(j) any asset with respect to which the Administrative Agent in consultation with the Borrower has reasonably determined that
the cost, burden, difficulty or consequence (including any effect on the ability of the relevant Loan Party to conduct its operations and business in the ordinary course of business) of obtaining or perfecting a security interest therein outweighs
the benefit of a security interest to the relevant Secured Parties afforded thereby, which determination is evidenced in writing, and 

(k) any governmental licenses or state or local franchises, charters or authorizations, to the extent a security interest in
any such license, franchise, charter or authorization would be prohibited or restricted thereby (including any legally effective prohibition or restriction, except to the extent such prohibition or restriction would be rendered ineffective under the
UCC or any other applicable law notwithstanding such prohibition or restriction). 

  
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 “Excluded Subsidiary” means (a) any Subsidiary that is prohibited by
law, regulation or any contractual obligation existing from guaranteeing the Obligations or that would require a governmental (including regulatory) consent, approval, license or authorization in order to provide such guaranty unless such consent,
approval, license or authorization has been received or would, contemporaneous with the Effective Date, be received (it being understood and agreed that no Loan Party shall have any obligation to obtain such consent, approval, license or
authorization) (provided that (i) with respect to any Subsidiary existing on the Effective Date, any such contractual obligation containing such a prohibition was in existence on the Effective Date and (ii) with respect to any
Subsidiaries acquired or created after the Effective Date, such prohibition is not the result of a contractual obligation that arose solely in contemplation of such Subsidiary satisfying this definition); (b) any Unrestricted Subsidiary;
(c) any Immaterial Subsidiary; (d) any Foreign Subsidiary; (e) any Captive Insurance Subsidiary and (f) any Securitization Subsidiary (other than, in the case of this clause (f), Toast Capital LLC). 

“Excluded Swap Obligations” means, with respect to any Guarantor, (a) any Swap Obligation if, and to the extent that,
all or a portion of the Guaranty provided by such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation is or becomes illegal under the Commodity xchange Act or any rule, regulation or order of the
Commodity Futures Trading Commission (or the application or official interpretation of any thereof) (i) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the
Commodity Exchange Act and the regulations thereunder (determined after giving pro forma effect to any applicable keep well, support, or other agreement for the benefit of such Guarantor and any and all applicable guarantees of such Guarantor’s
Swap Obligations by other Loan Parties) at the time the Guaranty provided by such Guarantor becomes or would become effective with respect to such Swap Obligation or such Swap Obligation becomes secured by such security interest or (ii) in the
case of a Swap Obligation that is subject to a clearing requirement pursuant to section 2(h) of the Commodity Exchange Act, because such Guarantor is a “financial entity,” as defined in section 2(h)(7)(C) of the Commodity Exchange Act, at
the time the Guaranty provided by (or grant of such security interest by, as applicable) such Guarantor becomes or would become effective with respect to such Swap Obligation or (b) any other Swap Obligation designated as an “Excluded Swap
Obligation” of such Guarantor as specified in any agreement between the relevant Loan Parties and the counterparty to any Swap Agreement applicable to such Swap Obligations. If a Swap Obligation arises under a master agreement governing more
than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to the swap for which such guarantee or security interest is or becomes excluded in accordance with the first sentence of this definition.

 “Excluded Taxes” means, with respect to any Recipient with respect to any payment to be made by or on account of any
obligation of the Borrower hereunder, (a) Taxes imposed on (or measured by) its net income or gross profit, franchise Taxes, and branch profits Taxes, in each case (i) imposed by the jurisdiction (or any political subdivision thereof)
under the laws of which such Recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located or (ii) that are Other Connection Taxes, (b) in the case of a
Foreign Lender (other than an assignee pursuant to a request by the Borrower under Section 2.18(b)), any United States withholding Tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign
Lender becomes a party to this Agreement (or designates a new lending office), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive
additional amounts from the Borrower with respect to such withholding tax pursuant to Section 2.16(a), (c) or (d), (c) withholding Taxes imposed under FATCA, and (d) any Taxes attributable to such
Recipient’s failure to comply with Section 2.16(e). 
 “Existing Letter of Credit” means
each letter of credit issued prior to the Effective Date by a Person that shall be an Issuing Bank and listed on Schedule 2.4. 

“Existing Maturity Date” has the meaning set forth in Section 2.20(a). 

“Extension Effective Date” has the meaning set forth in Section 2.20(a). 

  
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 “FATCA” means Sections 1471 through 1474 of the Code, as of the Effective
Date (or any amended or successor version that is substantively comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof and any agreements entered into pursuant to
Section 1471(b)(1) of the Code or any published intergovernmental agreement entered into in connection with the implementation of such Sections of the Code and any fiscal or regulatory legislation, rules or official practices adopted pursuant
to any such intergovernmental agreement. 
 “Federal Funds Effective Rate” means, for any day, the rate calculated by the
NYFRB based on such day’s federal funds transactions by depository institutions (as determined in such manner as shall be set forth on the Federal Reserve Bank of New York’s Website from time to time) and published on the next succeeding
Business Day by the NYFRB as the federal funds effective rate; provided that if such rate shall be less than zero, such rate shall be deemed to be zero for all purposes of this Agreement. 

“Federal Reserve Bank of New York’s Website” means the website of the NYFRB at http://www.newyorkfed.org, or any
successor source. 
 “Financial Officer” means the chief financial officer, treasurer, chief accounting officer, head of
finance, vice president of finance or corporate controller of the Borrower. 
 “Floor” means the benchmark rate floor, if
any, provided in this Agreement initially (as of the execution of this Agreement, the modification, amendment or renewal of this Agreement or otherwise) with respect to the Screen Rate. 

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

“Foreign Subsidiary” means (a) any Subsidiary that is not a Domestic Subsidiary, (b) any Subsidiary that is a
Subsidiary of a CFC or a Subsidiary of a CFC Holdco and (c) any Subsidiary whose provision of a Guarantee would reasonably be expected to result in an investment in “United States property” (within the meaning of Section 956 of
the Code) or would otherwise reasonably be expected to result in a material adverse tax consequence to the Borrower or any of its Affiliates, as reasonably determined by Borrower. 

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

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

  
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 “Guarantee” of or by any Person (the “guarantor”) means
any obligation, contingent or otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and
including any obligation of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds for the
purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness of the payment thereof, (c) to maintain working capital, equity capital
or any other financial statement condition or liquidity of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any letter of credit or letter of guaranty
issued to support such Indebtedness; provided that the term Guarantee shall not include endorsements for collection or deposit in the ordinary course of business, or customary indemnification obligations entered into in connection with any
Acquisition or disposition of assets or of other entities (other than to the extent that the primary obligations that are the subject of such indemnification obligation would be considered Indebtedness hereunder). The amount of any Guarantee shall
be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in
respect thereof as determined in good faith by a Financial Officer. The term “Guarantee” as a verb has a corresponding meaning. 

“Guaranteed Obligation” has the meaning set forth in Section 7.1. 

“Guarantor” means each Wholly-Owned Subsidiary of the Borrower (other than an Excluded Subsidiary or a CFC Holdco) that shall
have become a party hereto as a “Guarantor” and shall have provided a Guaranty by executing and delivering to the Administrative Agent a signature page hereto or to a Counterpart Agreement; provided that for purposes of Article
VII the term “Guarantors” shall also include the Borrower (except with respect to the Direct Borrower Obligations). 

“Guaranty” means the guaranty of each Guarantor set forth in Article VII 

“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes
or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to
any Environmental Law. 
 “IBA” has the meaning set forth in Section 1.7. 

“IFRS” means international financial reporting standards within the meaning of IAS Regulation 1606/2002. 

“Immaterial Subsidiary” means, at any time of determination, each Restricted Subsidiary (a) whose Consolidated Total
Assets as of the last day of the most recent fiscal quarter in respect of which financial statements have been delivered pursuant to Section 5.1(a) or (b) or Section 3.4(a) were less
than 5.0% of the Consolidated Total Assets of the Borrower and its Restricted Subsidiaries at such date and (b) whose consolidated gross revenues (after intercompany eliminations) for the most recent period of four fiscal quarters in respect of
which financial statements have been delivered pursuant to Section 5.1(a) or (b) or Section 3.4(a) were less than 5.0% of the consolidated gross revenues of the Borrower and its
Restricted Subsidiaries for such period, in each case determined in accordance with GAAP; provided that if, as of the most recent date or period referred to in clause (a) or (b) above, the combined Consolidated Total Assets or the
combined consolidated gross revenues of all Restricted Subsidiaries that would constitute Immaterial Subsidiaries in accordance with clause (a) and (b) above shall have exceeded 15.0% of the Consolidated Total Assets of the Borrower and its
Restricted Subsidiaries at such date or 15.0% of consolidated gross revenues of the Borrower and its Restricted Subsidiaries for such period, the Borrower shall, promptly following the date on which financial statements for such quarter are
delivered pursuant to this Agreement, designate in writing to the Administrative Agent which of such Restricted Subsidiaries shall no longer constitute “Immaterial Subsidiaries” until this proviso is no longer applicable; provided,
further, if no such designation is made by the Borrower, then one or more of such Restricted Subsidiaries that would otherwise be an Immaterial Subsidiary shall for all purposes of this Agreement automatically be deemed to not be an
Immaterial Subsidiary in descending order based on the amounts of their Consolidated Total Assets or consolidated gross revenues, as the case may be, until such excess shall have been eliminated. 

  
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 “Impacted Interest Period” has the meaning assigned to it in the definition
of “LIBO Rate”. 
 “Increase Date” has the meaning set forth in Section 2.19(a). 

“Increase Lender” has the meaning set forth in Section 2.19(a). 

“Incremental Equivalent Debt” has the meaning set forth in Section 2.19(d). 

“Incremental Revolving Commitment Tranche” has the meaning set forth in Section 2.19(a). 

“Indebtedness” of any Person at any date means, without duplication, (a) all indebtedness of such Person for borrowed
money, (b) all obligations of such Person for the deferred purchase price of property or services (other than (i) accounts payable incurred in the ordinary course of business and (ii) deferred or equity compensation arrangements
payable to directors, officers, employees, advisors, consultants or other providers of services), (c) all obligations of such Person evidenced by notes, bonds, debentures or other similar instruments, (d) all indebtedness created or arising
under any conditional sale or other title retention agreement with respect to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or
sale of such property), (e) all Capital Lease Obligations of such Person, (f) all obligations of such Person, contingent or otherwise, as an account party or applicant under or in respect of bankers’ acceptances, letters of credit, surety
bonds or similar arrangements, (g) all Guarantees of such Person in respect of obligations of the kind referred to in clauses (a) through (f) above, and (h) all obligations of the kind referred to in clauses (a) through (g) above
secured by (or for which the holder of such obligation has an existing right, contingent or otherwise, to be secured by) any Lien on property (including accounts and contract rights) owned or acquired by such Person, whether or not such Person has
assumed or become liable for the payment of such obligation. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable
therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. For all purposes hereof, the Indebtedness
of the Borrower and its Restricted Subsidiaries shall exclude intercompany liabilities arising from their cash management, tax, and accounting operations and intercompany loans, advances or Indebtedness. “Indebtedness” shall not include
the obligations or liabilities of any Person to pay rent or other amounts with respect to any lease of office space (or other arrangement conveying the right to use office space) or other operating lease, which obligations (x) would have been
treated as operating leases for purposes of GAAP prior to the issuance by the Financial Accounting Standards Board on February 25, 2016 of the ASU (whether or not such operating lease obligations were in effect on such date) notwithstanding the
fact that such obligations are required in accordance with the ASU (on a prospective or retroactive basis or otherwise) to be treated as capitalized lease obligations in the financial statements to be delivered pursuant to the Loan Documents, or
(y) would be required to be classified and accounted for as a capital lease at any time due to build-to-suit accounting rules, “failed” sale and leaseback
accounting rules, other lease classification rules or other similar rules so long as such obligations are not entered into for a financing purpose, are unsecured (other than the provision of any letters of credit required to support such
obligations), and do not otherwise constitute “Indebtedness” pursuant to clauses (a), (b), (c) or (d) above. 

  
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 “Indemnified Taxes” means (a) Taxes, other than Excluded Taxes,
imposed on or with respect to any payment made by or on account of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in clause (a), Other Taxes. 

“Indemnitee” has the meaning set forth in Section 10.3(c). 

“Information Documents” means at any time any memorandum, lender’s presentation or other written information, in each
case as then supplemented or amended and including any documents attached thereto or incorporated by reference therein, prepared by the Arrangers with the assistance of the Borrower and given to any Lender in connection with the Transactions. 

“Intellectual Property” means all Patents, Trademarks, Copyrights and any other intellectual property. 

“Interest Election Request” has the meaning set forth in Section 2.7(b). 

“Interest Payment Date” means (a) with respect to any ABR Loan (other than a Swing Line Loan), the last day of each
March, June, September and December, (b) with respect to any Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurodollar Borrowing with an Interest Period of
more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period and (c) with respect to any Swing Line Loan, the
day such Loan is required to be repaid. 
 “Interest Period” means, with respect to any Eurodollar Borrowing, the period
commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, three or six months thereafter, as the Borrower may elect; provided that (a) if any Interest Period would end on
a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next
preceding Business Day and (b) any Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the
last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion
or continuation of such Borrowing. 
 “Interpolated Rate” means, at any time for any Interest Period, the rate per annum
(rounded to the same number of decimal places as the Screen Rate) determined by the Administrative Agent (which determination shall be prima facie evidence, absent manifest error) to be equal to the rate that results from interpolating on a linear
basis between: (a) the Screen Rate for the longest period for which the Screen Rate is available that is shorter than the Impacted Interest Period and (b) the applicable Screen Rate for the shortest period for which that Screen Rate is
available that exceeds the Impacted Interest Period, in each case, at such time. 
 “Investment” means any loan, advance
(other than advances to employees or other providers of services for moving, entertainment and travel expenses, drawing accounts and similar expenditures in the ordinary course of business), extension of credit (by way of Guarantee or otherwise) or
capital contributions by the Borrower or any of its Restricted Subsidiaries to any other Person (other than any Loan Party); provided that Investment shall not include any Capital Products. 

“IP Security Agreements” has the meaning assigned to such term in the Collateral Agreement. 

  
 -25- 

 “IPO” means the sale on a bona fide nationally recognized securities
exchange of common stock of the Borrower or the listing for trading of common stock of the Borrower on a bona fide nationally recognized securities exchange. 

“IRS” means the U.S. Internal Revenue Service. 

“ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or
any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time by the International Swaps and Derivatives Association, Inc. or such successor
thereto. 
 “ISP 98” means, with respect to any Letter of Credit, the “International Standby Practices 1998”
published by the Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be acceptable to the applicable Issuing Bank and in effect at the time of issuance of such Letter of Credit). 

“Issuance Notice” means an Issuance Notice substantially in the form of Exhibit B-2.

 “Issuing Bank” means (a) each of JPMCB, Goldman Sachs Lending Partners LLC, Morgan Stanley Senior Funding, Inc.,
KeyBank National Association and Silicon Valley Bank and (b) each Lender that shall have become an Issuing Bank hereunder as provided in Section 2.4(1) (other than any Person that shall have ceased to be an Issuing
Bank as provided in Section 2.4(h)), each in its capacity as an issuer of Letters of Credit hereunder and together with its permitted successors and assigns in such capacity. Each Issuing Bank may, in its discretion,
arrange for one or more Letters of Credit to be issued by Affiliates of such Issuing Bank, in which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate (it being agreed
that such Issuing Bank shall, or shall cause such Affiliate to, comply with the requirements of Section 2.4 with respect to such Letters of Credit). 

“Issuing Bank Sublimit” means, at any time, (a) with respect to JPMCB in its capacity as Issuing Bank, $22,727,273, (b)
with respect to Goldman Sachs Lending Partners LLC in its capacity as Issuing Bank, $22,727,273, (c) with respect to Morgan Stanley Senior Funding, Inc. in its capacity as Issuing Bank, $17,045,455, (d) with respect to KeyBank National Association
in its capacity as Issuing Bank, $9,090,909, (e) with respect to Silicon Valley Bank in its capacity as Issuing Bank, $3,409,091 and (f) with respect to any Lender that shall have become an Issuing Bank hereunder as provided in
Section 2.4(i), such amount as set forth in the agreement referred to in Section 2.4(i) evidencing the appointment of such Lender (or its designated Affiliate) as an Issuing Bank. 

“Joint Venture” means a joint venture, partnership or other similar arrangement, whether in corporate, partnership or other
legal form; provided that, in no event shall any corporate subsidiary of any Person be considered to be a Joint Venture to which such Person is a party. 

“JPMCB” means JPMorgan Chase Bank, N.A. 

“Junior Financing” means any Material Indebtedness for borrowed money (other than any permitted intercompany Indebtedness for
borrowed money owing to the Borrower or any Restricted Subsidiary) of the Borrower or any Subsidiary that is (i) unsecured, (ii) contractually subordinated in right of payment to the Obligations or (iii) secured by a Lien on all or any
part of the Collateral that is junior or subordinated to any Lien securing the Obligations; provided that a Permitted Call Spread Transaction shall not constitute a Junior Financing. 

  
 -26- 

 “Lender-Related Person” has the meaning assigned to it in
Section 10.3(b). 
 “Lenders” means the Persons listed on Schedule 2,1 and any other
Person that shall have become a party hereto pursuant to an Assignment and Assumption or pursuant to Section 2.19, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. Unless
the context otherwise requires, the term “Lenders” includes the Swing Line Lender. 
 “Letter of Credit” means
(a) any standby letter of credit issued or to be issued by an Issuing Bank pursuant to this Agreement in a form and substance approved by such Issuing Bank and (b) any Existing Letter of Credit. 

“Letter of Credit Sublimit” means the lesser of (a) $75,000,000 and (b) the aggregate unused amount of the total
Commitments then in effect. 
 “Letter of Credit Usage” means, as at any date of determination, the sum of (a) the sum
of the aggregate maximum amounts which are, or at any time thereafter may become, available for drawing under all Letters of Credit then outstanding and (b) the sum of the aggregate amounts of all drawings under Letters of Credit honored by the
Issuing Banks and not theretofore reimbursed by or on behalf of the Borrower. The Letter of Credit Usage of any Lender at any time shall be its Applicable Percentage of the total Letter of Credit Usage at such time, adjusted to give effect to any
reallocation under Section 2.21 of the Letter of Credit Usage of Defaulting Lenders in effect at such time. 

“Liabilities” means any losses, claims (including intraparty claims), demands, damages or liabilities of any kind. 

“LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, the applicable Screen Rate at
approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period; provided that if the Screen Rate shall not be available at such time for such Interest Period (an “Impacted Interest
Period”), then the LIBO Rate shall be the Interpolated Rate. 
 “Lien” means, with respect to any asset,
(a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention
agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such
securities. 
 “Limited Condition Transaction” means any repayment of Indebtedness or any Acquisition or any Investment by
one or more of the Borrower and its Restricted Subsidiaries, the consummation of which is not conditioned on the availability of, or on obtaining, third party financing. 

“Limited Information” means (a) information regarding the terms of, and the Borrower’s compliance with, this
Agreement and the other Loan Documents, (b) information concerning the financial position, results of operations and cash flows of the Borrower and its Subsidiaries, including the Information Documents and the financial statements provided by
the Borrower pursuant to Sections 3.4(a), 5.1(a) and (b) and any information concerning contingent liabilities, commitments and other exposures that would be material to determinations concerning the creditworthiness of the
Borrower and its Restricted Subsidiaries, (c) any notice, certificate or other document delivered by the Borrower pursuant to the terms of this Agreement or any other Loan Document, (d) information regarding the aggregate amount of
Liquidity or the corporate debt rating (if any) of the Borrower and (e) information regarding the credit support for the credit facility established hereunder, including the Guarantors (it being understood that the term “Limited
Information” does not include product designs, software and technology, inventions, trade secrets, know-how or other proprietary information of a like nature). 

  
 -27- 

 “Liquidity” means, at any time, the sum of (a) Unrestricted cash and
Cash Equivalents held by the Borrower and its Restricted Subsidiaries plus (b) Marketable Securities plus (c) so long as the conditions to borrowing set forth in clauses (b) and (c) of
Section 4.2 are satisfied at such time, the Available Revolving Commitments plus (d) Investments held in any Restricted Subsidiary that is a Massachusetts securities corporation. 

“Loan Documents” means this Agreement (including any amendment hereto or waiver hereunder), the Notes (if any), any Security
Document, any Counterpart Agreement and any agreements, documents or certificates executed by the Borrower in favor of any Issuing Bank relating to Letters of Credit and any other agreement entered into in connection herewith by the Borrower or any
Loan Party with or in favor of the Administrative Agent or the Lenders and designated by the terms thereof as a “Loan Document”. 

“Loan Parties” means the Borrower and the other Guarantors. 

“Loans” means the loans made by the Lenders to the Borrower pursuant to this Agreement (including any loan made pursuant to a
Commitment Increase). 
 “Margin Stock” has the meaning assigned to such term in Regulation U of the Board as in effect
from time to time. 
 “Marketable Securities” means, without duplication of any of the items described in the definition of
Cash Equivalents, investments permitted pursuant to the Borrower’s investment policy as approved by the Board of Directors (or a committee thereof) from time to time. 

“Material Adverse Effect” means a material adverse effect on (a) the business, property, financial condition or results
of operations of the Borrower and its Restricted Subsidiaries taken as a whole or (b) the rights and remedies of the Lenders, the Issuing Banks or the Administrative Agent under this Agreement or of the Administrative Agent, any Issuing Bank or
any Lender under the Loan Documents. 
 “Material Agreements” means, collectively, (i) that certain Loan Sale
Agreement dated as of November 12, 2019, among Toast Capital LLC and WebBank, (ii) that certain Marketing and Servicing Agreement, dated as of November 12, 2019, among Toast Capital LLC and WebBank, (iii) that certain MCA
Purchase Agreement dated as of November 12, 2019 among Toast Capital LLC and WebBank and (iv) any other purchase agreement, sale agreement or other financing arrangement entered into by the Borrower or any Restricted Subsidiary, to
consummate transactions substantially similar to those contemplated by the agreements described in clauses (i), (ii) and (iii) as of the Effective Date, in each case as amended, restated, supplemented or otherwise modified from time to time in
a manner not prohibited by this Agreement. 
 “Material Indebtedness” means Indebtedness (other than any Indebtedness under
the Loan Documents) or obligations in respect of one or more Swap Agreements, of any one or more of the Borrower and its Restricted Subsidiaries in a principal amount exceeding $50,000,000. For purposes of determining Material Indebtedness, the
“principal amount” of the obligations of the Borrower or any Restricted Subsidiary in respect of any Swap Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that the Borrower or such
Restricted Subsidiary would be required to pay if such Swap Agreement were terminated at such time; provided that a Permitted Call Spread Transaction shall not constitute Material Indebtedness. 

  
 -28- 

 “Maturity Date” means (a) June 8, 2026 or (b) with respect
to the Commitments of Consenting Lenders, as such date may be extended pursuant to Section 2.20. 

“Maturity Date Extension Request” means a request by the Borrower, in the form of Exhibit F hereto or such other form as
shall be approved by the Administrative Agent, for the extension of the Maturity Date pursuant to Section 2.20. 

“Moody’s” means Moody’s Investors Service, Inc., and any successor to its rating agency business. 

“Multiemployer Plan” means any multiemployer plan as defined in Section 4001(a)(3) of ERISA, which is contributed to by
(or to which there is or could be an obligation to contribute of) a Loan Party or an -30- ERISA Affiliate, and each such plan for the five- year period immediately
following the latest date on which a Loan Party or an ERISA Affiliate contributed to or had an obligation to contribute to such plan. 

“Non-Consenting Lender” means any Lender that does not approve any consent, waiver or
amendment that (a) requires the approval of all Lenders or all affected Lenders in accordance with the terms of Section 10.2 and (b) has been approved by the Required Lenders. 

“Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting
Lender at such time. 
 “Non-U.S. Plan” means any plan, fund (including any
superannuation fund) or other similar program established, contributed to (regardless of whether through direct contributions or through employee withholding) or maintained outside the United States by the Borrower or one or more Subsidiaries,
primarily for the benefit of employees of the Borrower or such Subsidiaries or any Loan Party residing outside the United States, which plan, fund or other similar program provides, or results in, retirement income, a deferral of income in
contemplation of retirement or payments to be made upon termination of employment, and which plan is not subject to ERISA or the Code. 

“Note” means a Revolving Loan Note or a Swing Line Note. 

“NYFRB” means the Federal Reserve Bank of New York. 

“NYFRB Rate” means, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and
(b) the Overnight Bank Funding Rate in effect on such day (or for any day that is not a Business Day, for the immediately preceding Business Day); provided that if none of such rates are published for any day that is a Business Day, the
term “NYFRB Rate” shall mean the rate for a federal funds transaction quoted at 11:00 a.m., New York City time, on such day received by the Administrative Agent from a federal funds broker of recognized standing selected by it;
provided, further, that if any of the aforesaid rates shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Obligations” means all amounts owing by any Loan Party to the Administrative Agent, any Issuing Bank or any Lender pursuant
to the terms of this Agreement or any other Loan Document (including reimbursement of amounts drawn under Letters of Credit and all interest which accrues after the commencement of any bankruptcy or insolvency proceeding, whether or not allowed or
allowable). 

  
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 “Obligee Guarantor” has the meaning set forth in
Section 7.6. 
 “OFAC” means the United States Treasury Department Office of Foreign Assets
Control. 
 “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former
connection between such Recipient and the jurisdiction imposing such Taxes (other than connections arising solely from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received
or perfected a security interest under, engaged in any other transaction pursuant to or enforced this Agreement or any other Loan Document, or sold or assigned an interest in this Agreement or any other Loan Document). 

“Other Taxes” means any and all present or future stamp, court or documentary Taxes or any other excise, property,
intangible, recording, filing or similar Taxes which arise from any payment made, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to,
this Agreement and the other Loan Documents; excluding, however, such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than such Taxes imposed with respect to an assignment that occurs as a result of the
Borrower’s request pursuant to Section 2.18(b)). 
 “Overnight Bank Funding Rate” means, for
any day, the rate comprised of both overnight federal funds and overnight Eurodollar borrowings by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on the Federal Reserve
Bank of New York’s Website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate. 

“Participant” has the meaning set forth in Section 10.4(c)(i). 

“Participant Register” has the meaning assigned to such term in Section 10.4(c)(iii). 

“Patents” means, with respect to any Person, all of such Person’s right, title, and interest in and to: (a) any and
all patents and patent applications; (b) all inventions and improvements described and claimed therein; (c) all reissues, divisions, continuations, renewals, extensions, and
continuations-in-part thereof; (d) all licenses of the foregoing whether as licensee or licensor; (e) all income, royalties, damages, claims, and payments now
or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments for past and future infringements thereof; (f) all rights to sue for past, present, and future infringements thereof; and
(g) all rights corresponding to any of the foregoing throughout the world. 
 “Payment” has the meaning set forth in
Article IX. 
 “Payment Notice” has the meaning set forth in Article IX. 

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing
similar functions. 
 “Pension Plan” means any “employee pension benefit plan” within the meaning of
Section 3(2) of ERISA, other than a Multiemployer Plan, that is subject to Title IV of ERISA, Section 412 of the Code or Section 302 of ERISA and is maintained or contributed to (or obligated to be contributed) in whole or in part by
any Loan Party or any ERISA Affiliate or with respect to which any of the Borrower, any Loan Party or any ERISA Affiliate has actual or contingent liability or had any such liability for the five-year period immediately following the latest date on
which a Loan Party or an ERISA Affiliate maintained, contributed to or had an obligation to contribute to such plan. 

  
 -30- 

 “Perfection Certificate” means a certificate in a form substantially
consistent with Exhibit K. 
 “Permitted Acquisition” means any Acquisition by the Borrower or any Restricted Subsidiary so
long as (i) the Borrower is in compliance with the financial covenant set forth in Section 6.8 hereof on a Pro Forma Basis and (ii) no Event of Default listed in clause (a), (b), (h) or (i) of Article
VIII has occurred and is continuing or would result therefrom. 
 “Permitted Call Spread Transaction” means
(a) any call or capped call option (or substantively equivalent derivative transaction) relating to the Common Stock (or other securities or property following a merger event, reclassification or other change of the Common Stock) purchased by
the Borrower in connection with the issuance of any Permitted Convertible Indebtedness and settled in Common Stock (or such other securities or property), cash or a combination thereof (such amount of cash determined by reference to the price of the
Common Stock or such other securities or property), and cash in lieu of fractional shares of Common Stock, or (b) any call option, warrant or right to purchase (or substantively equivalent derivative transaction) relating to the Common Stock
(or other securities or property following a merger event, reclassification or other change of the Common Stock) sold by the Borrower substantially concurrently with any purchase by the Borrower of a Permitted Call Spread Transaction described in
clause (a) and settled in Common Stock (or such other securities or property), cash or a combination thereof (such amount of cash determined by reference to the price of the Common Stock or such other securities or property), and cash in lieu
of fractional shares of Common Stock; provided that the terms, conditions and covenants of each such transaction described in clause (a) or clause (b) shall be such as are customary for transactions of such type (as determined in
good faith by the board of directors of the Borrower, or a committee thereof, senior management of the Borrower or a Financial Officer). 

“Permitted Convertible Indebtedness” means unsecured Indebtedness of the Borrower that is convertible into shares of Common
Stock (or other securities or property following a merger event, reclassification or other change of the Common Stock), cash or a combination thereof (such amount of cash determined by reference to the price of the Common Stock or such other
securities or property), and cash in lieu of fractional shares of Common Stock; provided that (x) the final maturity date of such Permitted Convertible Indebtedness is not prior to the date
ninety-one (91) days after the Maturity Date and (y) the terms, conditions and covenants of such Permitted Convertible Indebtedness shall be such as are customary for transactions of such type (as
determined in good faith by the Board of Directors, or a committee thereof, senior management of the Borrower or a Financial Officer). 

“Permitted Encumbrances” means: 

(a) Liens imposed by law for taxes, assessments or governmental charges or levies that are not yet due or are being contested
in compliance with Section 5.4; 
 (b) carriers’, warehousemen’s, mechanics’,
materialmen’s, landlord’s, supplier’s, repairmen’s and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 60 days or are being contested in
compliance with Section 5.4; 
 (c) Liens incurred or pledges and deposits made in the ordinary
course of business (i) in compliance with workers’ compensation, unemployment insurance and other social security laws or regulations or employment laws or to secure other public, statutory or regulatory obligations or (ii) securing
liability for reimbursement or indemnification obligations of (including obligations in respect of letters of credit or bank guarantees or similar instrument for the benefit of) insurance carriers providing property, casualty or liability insurance
to the Borrower or any Restricted Subsidiary or otherwise supporting the payment of items set forth in the foregoing clause (i); 

  
 -31- 

 (d) Liens incurred or pledges and deposits to secure the performance of
bids, trade and commercial contracts (other than for the payment of Indebtedness), leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature and obligations in respect of letters of credit, bank
guarantees or similar instruments that have been posted to support the same, in each case incurred in the ordinary course of business or consistent with past practice; 

(e) Liens securing, or otherwise arising from, judgments and deposits to secure obligations under appeal bonds or letters of
credit in respect of judgments that do not constitute an Event of Default under clause (k) of Article VIII; 
 (f)
Uniform Commercial Code financing statements filed (or similar filings under applicable law) solely as a precautionary measure in connection with operating leases; 

(g) easements, zoning restrictions,
rights-of-way, encroachments and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary
obligations and do not materially detract from the value of the affected property or interfere with the conduct of business of the Borrower or any Subsidiary; 

(h) rights of recapture of unused real property in favor of the seller of such property set forth in customary purchase or
lease agreements and related arrangements; 
 (i) to the extent constituting a Lien, Permitted IP Transfers; 

(j) rights of setoff, banker’s lien, netting agreements and other Liens arising by operation of law or by of the terms of
documents of banks or other financial institutions in relation to the maintenance of administration of deposit accounts, securities accounts, cash management arrangements or in connection with the issuance of letters of credit, bank guarantees or
other similar instruments; 
 (k) Liens arising from the right of distress enjoyed by landlords or Liens otherwise granted to
landlords, in either case, to secure the payment of arrears of rent or performance of other obligations in respect of leased properties, so long as such Liens are not exercised or except where the exercise of such Liens would not reasonably be
expected to have a Material Adverse Effect; 
 (l) Liens or security given to public utilities or to any municipality or
Governmental Authority when required by the utility, municipality or Governmental Authority in connection with the supply of services or utilities to the Borrower and any other Restricted Subsidiaries; 

(m) servicing agreements, development agreements, site plan agreements, subdivision agreements, facilities sharing agreements,
cost sharing agreements and other agreements pertaining to the use or development of any of the assets of the Borrower or any of its Subsidiaries, in each case that do not secure any obligations for money borrowed and do not materially detract from
the value of the affected property or interfere with the conduct of business of the Borrower or any Subsidiary; and 

  
 -32- 

 (n) Liens on any assets securing any obligation in favor of a Governmental
Authority, including any such Lien securing amounts owing for wages, vacation pay, severance pay, employee deductions, sales tax, excise tax, other Taxes, workers compensation, governmental royalties or pension fund obligations. 

“Permitted Foreign Currency” means, with respect to any Letter of Credit, any foreign currency that is reasonably requested
by the Borrower from time to time and that has been agreed to by the applicable Issuing Bank. 
 “Permitted Holders” means
(a) any Person listed on Schedule 1.1 to the Disclosure Letter, (b) any trust or partnership created solely for the benefit of any natural person listed on Schedule 1.1 to the Disclosure Letter and/or members of the family of
any natural person listed on Schedule 1.1 to the Disclosure Letter and (c) any Person which is an Affiliate of any of the foregoing. 

“Permitted IP Transfer” means (i) non-exclusive licenses of Intellectual
Property, (ii) sales, dispositions, transfers or exclusive licenses of Intellectual Property that is not material to the business of the Borrower and the Restricted Subsidiaries, taken as a whole, as conducted, or as planned to be conducted, on
the Effective Date, (iii) sales, dispositions, transfers or exclusive licenses made pursuant to the Borrower or a Guarantor’s existing buy-in license agreements, research and development cost sharing
agreements and related agreements, as amended or restated from time to time, or comparable agreements with any Excluded Subsidiary (or other transactions where assets or rights of any Excluded Subsidiary are transferred to the Borrower, any
Guarantor or another Excluded Subsidiary and then subsequently transferred to another Excluded Subsidiary); provided that such amended, restated or comparable agreement would not have a material adverse effect on the assets of the Borrower
and the Restricted Subsidiaries, taken as a whole, or (iv) storing, holding, transferring, processing, operating or managing data or information outside the U.S., including for regulatory, tax or operational purposes. 

“Person” means any natural person, corporation, limited liability company, trust, Joint Venture, association, company,
partnership, Governmental Authority or other entity. 
 “Plan” means any “employee benefit plan” as defined in
Section 3(3) of ERISA (other than a Multiemployer Plan) which is maintained or contributed to (or obligated to be contributed) in whole or in part by the Borrower or any Loan Party or with respect to which any of the Borrower or any Loan Party
has actual or contingent liability. 
 “Plan Asset Regulations” means 29 CFR §
2510.3-101 et seq., as modified by Section 3(42) of ERISA, as amended from time to time. 

“Platform” has the meaning set forth in Section 10.1. 

“Portfolio Interest Certificate” has the meaning set forth in Section 2.16(e)(iii)(C). 

“Prime Rate” means the rate of interest last quoted by The Wall Street Journal as the “Prime Rate” in the U.S. or,
if The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Board in Federal Reserve Statistical Release H. 15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is
no longer quoted therein, any similar rate quoted therein (as determined by the Administrative Agent) or any similar release by the Federal Reserve Board (as determined by the Administrative Agent). Each change in the Prime Rate shall be effective
from and including the date such change is publicly announced or quoted as being effective. 

  
 -33- 

 “Pro Forma Basis” means, with respect to the calculation of Consolidated
Total Assets, Liquidity or Total Net Leverage Ratio as of any date, that such calculation shall give pro forma effect to all Acquisitions, all issuances, incurrences or assumptions of Indebtedness, all Restricted Payments, all Investments and all
sales, transfers or other dispositions of Equity Interests in a Subsidiary or assets of a Subsidiary or division or line of business of a Subsidiary outside the ordinary course of business (and any related prepayments or repayments of Indebtedness)
that have occurred during the applicable fiscal period of the Borrower (or subsequent to such fiscal period of the Borrower and prior to or simultaneously with the event for which such calculation is being calculated) as if they occurred on the
first day of such applicable period of the Borrower. 
 “Pro Rata Share” means, with respect to any Lender, the percentage
obtained by dividing (a) the Revolving Exposure of that Lender by (b) the aggregate Revolving Exposure of all Lenders. 

“Proceeding” means any claim, litigation, investigation, action, suit, arbitration or administrative, judicial or regulatory
action or proceeding in any jurisdiction. 
 “PTE” means a prohibited transaction class exemption issued by the U.S.
Department of Labor, as any such exemption may be amended from time to time. 
 “QFC” has the meaning assigned to the term
“qualified financial contract” in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D). 
 “QFC Credit
Support” has the meaning assigned to it in Section 10.19. 
 “Qualified Equity
Interests” means Equity Interests other than Disqualified Equity Interests. 
 “Receivables Financing Transaction”
means any transaction or series of transactions (including financing terms, covenants, termination events and other provisions) entered into by the Borrower or any Restricted Subsidiary pursuant to which such party sells Securitization Assets to a non-related third party on market terms (as determined in good faith by the Borrower); provided that such Receivables Financing Transaction is (i) non-recourse to
the Borrower and its Restricted Subsidiaries and their assets, other than any recourse solely attributable to Standard Securitization Undertakings and (ii) consummated pursuant to customary contracts, arrangements or agreements entered into
with respect to the “true sale” of Securitization Assets on market terms for similar transactions (as determined in good faith by the Borrower). 

“Recipient” means the Administrative Agent, any Lender and any Issuing Bank, or any combination thereof (as the context
requires). 
 “Reference Time” with respect to any setting of the then-current Benchmark means (a) if such Benchmark
is the Adjusted LIBO Rate, 11:00 a.m. (London time) on the day that is two London banking days preceding the date of such setting, and (b) if such Benchmark is not the Adjusted LIBO Rate, the time determined by the Administrative Agent in its
reasonable discretion. 
 “Register” has the meaning set forth in Section 10.4. 

“Reimbursement Date” has the meaning set forth in Section 2.4(d). 

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

  
 -34- 

 “Relevant Governmental Body” means the Board and/or the NYFRB, or a
committee officially endorsed or convened by the Board and/or the NYFRB or, in each case, any successor thereto. 
 “Required
Lenders” means, subject to Section 2.21, (a) at any time prior to the earlier of the Loans becoming due and payable pursuant to Article VIII or all Commitments terminating or expiring, Lenders having
Revolving Exposures and Unfunded Commitments representing more than 50% of the sum of the Total Utilization of Commitments and Unfunded Commitments at such time; provided that, solely for purposes of declaring the Loans to be due and payable
pursuant to Article VIII, the Unfunded Commitment of each Lender shall be deemed to be zero; and (b) for all purposes after the Loans become due and payable pursuant to Article VIII or all Commitments expire or terminate, Lenders
having Revolving Exposures representing more than 50% of the sum of the Total Utilization of Commitments at such time; provided that, in the case of clauses (a) and (b) above, the Revolving Exposure of any Lender that is a Swing Line
Lender shall be deemed to exclude any amount of its Swing Line Exposure in excess of its Applicable Percentage of all outstanding Swing Line Loans, adjusted to give effect to any reallocation under Section 2.21 of the Swing
Line Exposures of Defaulting Lenders in effect at such time, and the Unfunded Commitment of such Lender shall be determined on the basis of its Revolving Exposure excluding such excess amount. 

“Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution
Authority. 
 “Responsible Officer” means any of the president, chief executive officer, vice president or Financial
Officer of the applicable Loan Party, or any person designated by any such Loan Party in writing to the Administrative Agent from time to time, acting singly. 

“Restricted” means, when referring to cash or Cash Equivalents of the Borrower and its Restricted Subsidiaries, that such
cash or Cash Equivalents (a) appear (or would be required to appear) as “restricted” on the consolidated balance sheet of the Borrower, (b) are subject to any Lien in favor of any Person (other than a Lien permitted under
Section 6.2(k) or pursuant to any Security Document) or (c) are not otherwise generally available for use by the Borrower or any Restricted Subsidiary so long as such Restricted Subsidiary is not prohibited by
applicable law, contractual obligation or otherwise from transferring such cash or Cash Equivalents to the Borrower. 
 “Restricted
Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to any Equity Interests in the Borrower or any of its Subsidiaries, or any payment (whether in cash, securities or other
property), including any sinking fund, similar deposit or withholding of shares for tax purposes, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such Equity Interests in the Borrower or any such
Subsidiary. The conversion of, or payment for (including, without limitation, payments of principal and payments upon redemption or repurchase), or paying any interest with respect to, any debt securities that are convertible into or exchangeable
for any combination of Equity Interests and/or cash shall not constitute a Restricted Payment. 
 “Restricted Subsidiary”
means any Subsidiary other than an Unrestricted Subsidiary. 
 “Reuters” means Thomson Reuters Corporation, a corporation
incorporated under and governed by the Business Corporations Act (Ontario), Canada, or a successor thereto. 
 “Revaluation
Date” means with respect to any Letter of Credit denominated in a Permitted Foreign Currency, each of the following: (i) the date on which such Letter of Credit is issued, (ii) the first Business Day of each calendar month,
(iii) the date of any amendment of such Letter of Credit that has the effect of increasing the face amount thereof and (iv) on the Reimbursement Date in respect of such Letter of Credit. 

  
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 “Revolving Exposure” means, with respect to any Lender as of any date of
determination, the sum of (a) the aggregate outstanding principal amount of the Revolving Loans of that Lender, (b) the Letter of Credit Usage of that Lender and (c) the Swing Line Exposure of that Lender. 

“Revolving Loan” means a Loan made by a Lender to the Borrower pursuant to Section 2.1 and/or
Section 2.19. 
 “Revolving Loan Note” means a promissory note in the form of Exhibit D-1, as it may be amended, restated, supplemented or otherwise modified from time to time. 

“S&P” means Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC
business, and any successor to its rating agency business. 
 “Sanctioned Country” means, at any time, a country, region or
territory which is the subject or target of any comprehensive Sanctions (at the time of this Agreement, Crimea, Cuba, Iran, North Korea and Syria). 

“Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons
maintained by OFAC, the U.S. Department of State, the United Nations Security Council, the European Union, any European Union member state or Her Majesty’s Treasury of the United Kingdom, (b) any Person organized or resident in a
Sanctioned Country or (c) any Person owned 50% or more or otherwise controlled by any such Person or Persons described in the foregoing clauses (a) or (b). 

“Sanctions” means all economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time
by (a) the U.S. government, including those administered by OFAC or the U.S. Department of State, or (b) the United Nations Security Council, the European Union, any European Union member state, or Her Majesty’s Treasury of the United
Kingdom. 
 “Screen Rate” means, for any day and time, with respect to any Eurodollar Borrowing for any Interest Period, a
rate per annum equal to the London interbank offered rate as administered by the ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for a period equal in length to such Interest Period as displayed on
such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, on or on
the appropriate page of such other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion). Notwithstanding the foregoing, if the Screen Rate, determined as provided above
in this definition, would be less than zero, the Screen Rate shall for all purposes of this Agreement be zero. 
 “SEC”
means the Securities and Exchange Commission or any other governmental authority succeeding to any of the principal functions thereof. 

“Secured Cash Management Obligations” means the due and punctual payment and performance of any and all obligations of the
Borrower and each Restricted Subsidiary (whether absolute or contingent and however and whenever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor)) arising in respect of
Cash Management Services that (a) are owed to the Administrative Agent, an Arranger or an Affiliate of any of the foregoing, or to any Person that, at the time such obligations were incurred, was the Administrative Agent, an Arranger or an
Affiliate of any of the foregoing, (b) are owed on the Effective Date to a Person that is a Lender or an Affiliate of a Lender as of the Effective Date or (c) are owed to a Person that is a Lender or an Affiliate of a Lender at the time
such obligations are incurred. 

  
 -36- 

 “Secured Obligations” means, collectively, (a) all the Obligations,
(b) all the Secured Cash Management Obligations and (c) all the Secured Swap Obligations. 
 “Secured Parties”
means, collectively, (a) the Lenders, (b) the Administrative Agent, (c) the Arrangers, (d) each Issuing Bank, (e) each provider of Cash Management Services the obligations under which constitute Secured Cash Management
Obligations, (f) each counterparty to any Swap Agreement the obligations under which constitute Secured Swap Obligations, (g) the beneficiaries of each indemnification obligation undertaken by any Loan Party under this Agreement or any
other Loan Document and (h) the permitted successors and assigns of each of the foregoing. 
 “Secured Swap
Obligations” means the due and punctual payment and performance of any and all obligations of the Borrower and each Restricted Subsidiary arising under each Swap Agreement that (a) is with a counterparty that is the Administrative
Agent, an Arranger or an Affiliate of any of the foregoing, or any Person that, at the time such Swap Agreement was entered into, was the Administrative Agent, an Arranger or an Affiliate of any of the foregoing, (b) is in effect on the
Effective Date with a counterparty that is a Lender or an Affiliate of a Lender as of the Effective Date or (c) is entered into after the Effective Date with a counterparty that is a Lender or an Affiliate of a Lender at the time such Swap
Agreement is entered into. Notwithstanding the foregoing, “Secured Swap Obligations” shall not include Excluded Swap Obligations. 

“Securitization Assets” means accounts receivable, royalties, licensing fees, whole loans (or interests therein) or other
revenue streams, other rights to payment, including with respect to rights of payment pursuant to the terms of joint ventures (in each case, whether now existing or arising in the future), and any assets related thereto, including all lockbox
accounts and records, all collateral securing any of the foregoing, all contracts and all guarantees or other obligations in respect of any of the foregoing, proceeds of any of the foregoing and other assets which are customarily transferred or in
respect of which security interests are customarily granted in connection with non-recourse, asset securitization or receivables sale or financing transactions. 

“Securitization Facility” means any transaction or series of transactions that may be entered into by the Borrower or any
Restricted Subsidiary pursuant to which the Borrower or any such Restricted Subsidiary may sell, convey or otherwise transfer, or may grant a security interest in, Securitization Assets to a Securitization Subsidiary that (i) in turn sells such
Securitization Assets to a person that is not the Borrower or -39- a Restricted Subsidiary, (ii) may grant a security interest in any Securitization Assets of the
Borrower or any of its Restricted Subsidiaries, and/or (iii) may finance such Securitization Assets; provided that the sale, conveyance or transfer to the Securitization Subsidiary is
(i) non-recourse to the Borrower and the Restricted Subsidiaries and their assets, other than any recourse solely attributable to Standard Securitization Undertakings and (ii) consummated pursuant to
customary contracts, arrangements or agreements entered into with respect to the “true sale” or “true contribution” of Securitization Assets on market terms for similar transactions (as determined in good faith by the Borrower).

 “Securitization Fees” means distributions or payments made directly or by means of discounts with respect to any
participation interest issued or sold in connection with, and other fees and expenses (including reasonable fees and expenses of legal counsel) paid to a person that is not a Securitization Subsidiary in connection with any Securitization Facility
or Receivables Financing Transaction. 

  
 -37- 

 “Securitization Subsidiary” means any Subsidiary formed for the purpose of,
and that solely engages only in one or more Securitization Facilities and other activities reasonably related thereto whose organizational documents contain restrictions on its purpose and activities and impose requirements intended to preserve its
separateness from the Borrower and its Subsidiaries. 
 “Security Documents” means the Collateral Agreement, the IP
Security Agreements, each Control Agreement, if any, and each other security agreement or other instrument or document executed and delivered pursuant thereto or pursuant to Section 5.10 or 5.11 to secure any of the
Secured Obligations. 
 “Senior Notes” means those certain senior unsecured convertible promissory notes issued by the
Borrower in an aggregate original principal amount of $200,000,000 under the Senior Unsecured Convertible Note Purchase Agreement dated as of June 19, 2020. 

“SOFR” with respect to any day means the secured overnight financing rate published for such day by the NYFRB, as the
administrator of the benchmark (or a successor administrator), on the Federal Reserve Bank of New York’s Website. 
 “Solvency
Certificate” means a Solvency Certificate of a Financial Officer substantially in the form of Exhibit H. 

“Solvent” means, with respect to the Borrower and its Restricted Subsidiaries on a particular date, that on such date
(a) the fair value of the present assets of the Borrower and its Restricted Subsidiaries, taken as a whole, is greater than the total amount of liabilities, including, without limitation, contingent liabilities, of the Borrower and its
Restricted Subsidiaries, taken as a whole, (b) the present fair saleable value of the assets of the Borrower and its Restricted Subsidiaries, taken as a whole, is not less than the amount that will be required to pay the probable liability of
the Borrower and its Restricted Subsidiaries, taken as a whole, on their debts as they become absolute and matured, (c) the Borrower and its Restricted Subsidiaries, taken as a whole, do not intend to, and do not believe that they will, incur
debts or liabilities (including current obligations and contingent liabilities) beyond their ability to pay such debts and liabilities as they mature in the ordinary course of business and (d) the Borrower and its Restricted Subsidiaries, taken
as a whole, are not engaged in business or a transaction, and are not about to engage in business or a transaction, in relation to which their property would constitute an unreasonably small capital. The amount of contingent liabilities at any time
shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability (irrespective of whether such contingent
liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5). 
 “Standard Securitization
Undertakings” means representations, warranties, covenants and indemnities entered into or undertaken by the Borrower or any of its Subsidiaries that are customary in non-recourse securitization or
receivables financings or monetization whether effected through a Securitization Subsidiary or otherwise. 
 “Statutory Reserve
Rate” means a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or
supplemental reserves) expressed as a decimal established by the Board to which the Administrative Agent is subject for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board). Such reserve
percentages shall include those imposed pursuant to such Regulation D. Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or
offsets that may be available from time to time to any Lender under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage.

  
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 “Subsidiary” means any subsidiary of the Borrower. 

“subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited
liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with
GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity (a) of which securities or other ownership interests representing more than 50% of the equity (including by value) or
more than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the partnership interests are, as of such date, owned (directly or indirectly), controlled or held, or (b) that is, as of such date, otherwise
Controlled, by the parent or one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent and which is required by GAAP to be consolidated in the consolidated financial statements of the parent. 

“Supported QFC” has the meaning assigned to it in Section 10.19. 

“Swap Agreement” means any agreement with respect to any swap, forward, future or derivative transaction or option or similar
agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any
similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or other providers of
services of the Borrower or the Restricted Subsidiaries shall be a Swap Agreement. 
 “Swap Obligation” means any
obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of §la(47) of the Commodity Exchange Act. 

“Swing Line Exposure” means, at any time, the aggregate principal amount of all Swing Line Loans outstanding at such time.
The Swing Line Exposure of any Lender at any time shall be the sum of (a) its Applicable Percentage of the aggregate principal amount of all Swing Line Loans outstanding at such time (excluding, in the case of any Lender that is a Swing Line
Lender, Swing Line Loans made by it that are outstanding at such time to the extent that the other Lenders shall not have funded their participations in such Swing Line Loans) adjusted to give effect to any reallocation under
Section 2.21 of the Swing Line Exposure of Defaulting Lenders in effect at such time, and (b) in the case of any Lender that is a Swing Line Lender, the aggregate principal amount of all Swing Line Loans made by such
Lender outstanding at such time, less the amount of participations funded by the other Lenders in such Swing Line Loans. 
 “Swing
Line Lender” means JPMCB, in its capacity as Swing Line Lender hereunder, together with its permitted successors and assigns in such capacity. 

“Swing Line Loan” means a Loan made by Swing Line Lender to the Borrower pursuant to Section 2.3.

 “Swing Line Note” means a promissory note in the form of Exhibit D-2, as it may
be amended, restated, supplemented or otherwise modified from time to time. 

  
 -39- 

 “Swing Line Sublimit” means the lesser of (a) $25,000,000, and (b) the
aggregate unused amount of the total Commitments then in effect. 
 “Taxes” means any and all present or future taxes,
levies, imposts, duties, deductions, charges or withholdings (including backup withholding) imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Term SOFR” means, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate
based on SOFR that has been selected or recommended by the Relevant Governmental Body. 
 “Term SOFR Notice” means a
notification by the Administrative Agent to the Lenders and the Borrower of the occurrence of a Term SOFR Transition Event. 
 “Term
SOFR Transition Event” means the determination by the Administrative Agent that (a) Term SOFR has been recommended for use by the Relevant Governmental Body, (b) the administration of Term SOFR is administratively feasible for the
Administrative Agent and (c) a Benchmark Transition Event or an Early Opt-in Election, as applicable, has previously occurred resulting in a Benchmark Replacement in accordance with
Section 2.13 that is not Term SOFR. 
 “Total Net Leverage Ratio” means, as of any date of
determination, the ratio of (a) Consolidated Total Indebtedness outstanding on such date minus the aggregate amount of Unrestricted cash and Cash Equivalents and Marketable Securities of the Borrower and its Restricted Subsidiaries on
such date, determined on a consolidated basis in accordance with GAAP, to (b) Consolidated Credit EBITDA for the period of four (4) consecutive fiscal quarters ending on or immediately prior to such date. 

“Total Utilization of Commitments” means, as at any date of determination, the sum of (a) the aggregate principal amount
of all outstanding Revolving Loans, (b) the aggregate principal amount of all outstanding Swing Line Loans, and (c) the aggregate Letter of Credit Usage. 

“Trademarks” means, with respect to any Person, all of such Person’s right, title, and interest in and to the following:
(a) all trademarks (including service marks), trade names, trade dress, and trade styles and the registrations and applications for registration thereof and the goodwill of the business symbolized by the foregoing; (b) all licenses of the
foregoing, whether as licensee or licensor; (c) all renewals of the foregoing; (d) all income, royalties, damages, and payments now or hereafter due or payable with respect thereto, including, without limitation, damages, claims, and
payments for past and future infringements thereof; (e) all rights to sue for past, present, and future infringements of the foregoing, including the right to settle suits involving claims and demands for royalties owing; and (f) all
rights corresponding to any of the foregoing throughout the world. 
 “Transactions” means the execution, delivery and
performance by the Loan Parties of each Loan Document to which it is a party, the borrowing of Loans and the use of the proceeds thereof, and the issuance of Letters of Credit and the use thereof. 

“Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans
comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Alternate Base Rate; provided that with respect to Swing Line Loans, such rate shall be determined by reference to the Alternate Base Rate only. 

  
 -40- 

 “U.S. Government Obligations” means obligations issued or directly and
fully guaranteed or insured by the United States of America or by any agent or instrumentality thereof; provided that the full faith and credit of the United States of America is pledged in support thereof. 

“U.S. Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code.

 “U.S. Special Resolution Regime” has the meaning assigned to it in Section 10.19. 

“UCC” or “Uniform Commercial Code” has the meaning of “UCC” as defined in the Collateral
Agreement. 
 “UK Financial Institutions” means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as
amended form time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority,
which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms. 

“UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for
the resolution of any UK Financial Institution. 
 “Unadjusted Benchmark Replacement” means the Benchmark Replacement
excluding the Benchmark Replacement Adjustment; provided that, if the Unadjusted Benchmark Replacement as so determined would be less than zero, the Unadjusted Benchmark Replacement will be deemed to be zero for the purposes of this
Agreement. 
 “Unfunded Commitment” means, with respect to each Lender, the Commitment of such Lender less its Revolving
Exposure. 
 “Unfunded Pension Liability” means the excess of a Pension Plan’s benefit liabilities under
Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. 

“Unrestricted” means, when referring to cash or Cash Equivalents, that such cash or Cash Equivalents are not Restricted. 

“Unrestricted Subsidiary” means any Subsidiary that at the time of determination has previously been designated, and
continues to be, an Unrestricted Subsidiary in accordance with Section 5.12. 
 “USA Patriot Act”
means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title III of Pub. L. No. 107-56 (signed into law October 26,
2001)), as amended from time to time. 
 “Wholly-Owned Subsidiary” means, as to any Person, a subsidiary all of the Equity
Interests of which (except directors’ qualifying Equity Interests and other nominal amounts of Equity Interests that are required to be held by other Persons under applicable law) are at the time directly or indirectly owned by such Person
and/or another Wholly-Owned Subsidiary of such Person. 
 “Withholding Agent” means the Borrower and the Administrative
Agent. 

  
 -41- 

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

Section 1.2 Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Type
(e.g., a “Eurodollar Loan” or an “ABR Loan”). Borrowings also may be classified and referred to by Type (e.g., a “Eurodollar Borrowing” or an “ABR Borrowing”). 

Section 1.3 Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms
defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase
“without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise, (a) any definition of or reference to any agreement,
instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, amended and restated, supplemented or otherwise modified (subject to any restrictions on such
amendments, restatements, amendments and restatements, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words
“herein”, “hereof’ and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles,
Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (e) the words “asset” and “property” shall be construed to have the same meaning and
effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights and (f) any reference to any law shall include all statutory and regulatory provisions consolidating,
amending, replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time. Each reference herein to the
“date of this Agreement” or the “date hereof’ shall be deemed to refer to the Effective Date. 
 Section 1.4
Accounting Terms; GAAP; Certain Calculations. (a) Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided
that, if the Borrower notifies the Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the Effective Date in GAAP or in the application thereof on the operation
of such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or
in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision has been
amended in accordance herewith. Notwithstanding the foregoing, all financial statements delivered hereunder shall be prepared, and all financial covenants contained herein shall be calculated without giving effect to (i) any election under
Financial Accounting Standards Board Accounting Standards Codification 825 (or any other Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of the Borrower or any Subsidiary at “fair
value”, as defined therein and (ii) any treatment of Indebtedness in respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting Standard
having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof. 

 

  
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 (b) Notwithstanding anything in this Agreement or any Loan Document to the contrary, when
(a) calculating any applicable Basket, in connection with the consummation of any Limited Condition Transaction (including the incurrence or issuance of Indebtedness (other than any Commitment Increase incurred pursuant to clause (x) of
the introductory paragraph of Section 2.19) in connection with such Limited Condition Transaction) or (b) determining compliance with any provision of this Agreement which requires that no Default or Event of Default (or any type of
Default or Event of Default) has occurred, is continuing or would result therefrom in connection with the consummation of any Limited Condition Transaction (including the incurrence or issuance of Indebtedness (other than any Commitment Increase
incurred pursuant to clause (x) of the introductory paragraph of Section 2.19) in connection with such Limited Condition Transaction), in each case under the foregoing clauses (a) and (b), the date of determination of such
Basket or determination of whether any Default or Event of Default (or any type of Default or Event of Default) has occurred, is continuing or would result therefrom may, at the option of the Borrower (in its sole discretion) (the Borrower’s
election to exercise such option, an “LCT Election”), be deemed to be the date the definitive agreements for such Limited Condition Transaction are entered into (or, in the case of any redemption, repurchase, defeasance,
satisfaction and discharge or repayment of Indebtedness, the date on which irrevocable notice with respect to such Limited Condition Transactions is sent) (such date, the “LCT Test Date”) and, subject to the other provisions of this
Section 1.4(b), if, after giving pro forma effect to the Limited Condition Transaction, any incurrence, issuance and/or repayment of Indebtedness or other transaction in connection therewith and any actions or transactions related
thereto, the Borrower or any of its Restricted Subsidiaries, as applicable, would have been permitted to take such actions or consummate such transactions on the relevant LCT Test Date in compliance with such Basket, such Basket shall be deemed to
have been complied with (or satisfied) for purposes of such Limited Condition Transaction. 
 For the avoidance of doubt, if the Borrower
has made an LCT Election, (1) if any Basket for which compliance was determined or tested as of the LCT Test Date would at any time after the LCT Test Date have been exceeded or otherwise failed to have been complied with as a result of
fluctuations in any such Basket prior to (or on) the earlier of the date on which such Limited Condition Transaction is consummated or the date that the definitive agreement or date for redemption, purchase or repayment specified in an irrevocable
notice for such Limited Condition Transaction is terminated, expires or passes, as applicable, without consummation of such Limited Condition Transaction, including due to fluctuations in Consolidated Credit EBITDA or Consolidated Total Assets of
the Borrower or the Person subject to such Limited Condition Transaction, such Basket will not be deemed to have been exceeded or failed to have been complied with as a result of such fluctuations, (2) other than as expressly set forth in the
previous paragraph, if any related requirements and conditions (including as to the absence of any (or any type of) continuing Default or Event of Default and satisfaction of any representations and warranties) for which compliance or satisfaction
was determined or tested as of the LCT Test Date would at any time after the LCT Test Date not have been complied with or satisfied (including due to the occurrence or continuation of any Default or Event of Default or failure to satisfy any
representations and warranties), such requirements and conditions will not be deemed to have been failed to be complied with or satisfied (and such Default or Event of Default shall be deemed not to have occurred or be continuing and such
representations and warranties shall be deemed to have been satisfied) and (3) in calculating the availability under any Basket in connection with any action or transaction following the relevant LCT Test Date and prior to the earlier of the
date on which such Limited Condition Transaction is consummated or the date that the definitive agreement or date for redemption, purchase or repayment specified in an irrevocable notice for such Limited Condition Transaction is terminated, expires
or passes, as applicable, without consummation of such Limited Condition Transaction, any such Basket shall be determined or tested after giving pro forma effect to such Limited Condition Transaction, any incurrence, issuance or repayment of
Indebtedness or other transaction in connection therewith and any actions or transactions related thereto. 

  
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 Section 1.5 Letter of Credit Amounts. Unless otherwise specified herein, the
amount of any Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time (or in the case of a Letter of Credit allowing for partial draws, the amount remaining to be drawn); provided,
however, that with respect to any Letter of Credit that by its terms provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of
Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time. 
 Section 1.6
Divisions. For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or
liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence,
such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time. 

Section 1.7 Interest Rates; LIBOR Notification. The interest rate on Eurodollar Loans is determined by reference to the LIBO Rate,
which is derived from the London interbank offered rate. The London interbank offered rate is intended to represent the rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market. In July 2017,
the U.K. Financial Conduct Authority announced that, after the end of 2021, it would no longer persuade or compel contributing banks to make rate submissions to the ICE Benchmark Administration (together with any successor to the ICE Benchmark
Administrator, the “IBA”) for purposes of the IBA setting the London interbank offered rate. As a result, it is possible that commencing in 2022, the London interbank offered rate may no longer be available or may no longer be
deemed an appropriate reference rate upon which to determine the interest rate on Eurodollar Loans. In light of this eventuality, public and private sector industry initiatives are currently underway to identify new or alternative reference rates to
be used in place of the London interbank offered rate. Upon the occurrence of a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, Section 2.13(b)
and (c) provide the mechanism for determining an alternative rate of interest. The Administrative Agent will promptly notify the Borrower, pursuant to Section 2.13(e), of any change to the reference rate upon which the
interest rate on Eurodollar Loans is based. However, the Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related to the
London interbank offered rate or with respect to any alternative or successor rate thereto, or replacement rate thereof (including, without limitation, (i) any such alternative, successor or replacement rate implemented pursuant to
Section 2.13(b) or (c), whether upon the occurrence of a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, and (ii) the implementation of any
Benchmark Replacement Conforming Changes pursuant to Section 2.13(d)), including without limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rate will be similar to, or
produce the same value or economic equivalence of, the LIBO Rate or have the same volume or liquidity as did the London interbank offered rate prior to its discontinuance or unavailability. 

  
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 Section 1.8 Exchange Rates; Currency Equivalents. On each Revaluation Date, the
Administrative Agent shall determine the Dollar Equivalent amounts of Letter of Credit extensions denominated in Permitted Foreign Currencies. Such Dollar Equivalent shall become effective as of such Revaluation Date and shall be the Dollar
Equivalent of such amounts until the next Revaluation Date to occur. Except for purposes of financial statements delivered by the Borrower hereunder or calculating financial covenants hereunder or except as otherwise provided herein, the applicable
amount of any Permitted Foreign Currency or purposes of the Loan Documents shall be such Dollar Equivalent amount as so determined by the Administrative Agent. 

ARTICLE II 
 THE CREDITS

 Section 2.1 Commitments. Subject to the terms and conditions set forth herein, each Lender severally agrees to make
Revolving Loans in dollars to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in (a) the aggregate outstanding principal amount of such Lender’s Revolving Exposure
exceeding such Lender’s Commitment or (b) the Total Utilization of Commitments exceeding the total Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and
reborrow Revolving Loans. Each Lender’s Commitment shall expire on the Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Exposure shall be paid in full no later than such
date. 
 Section 2.2 Revolving Loans and Borrowings. Each Revolving Loan shall be made as part of a Borrowing consisting of
Revolving Loans made by the Lenders in accordance with their respective Applicable Percentages. The failure of any Lender to make any Revolving Loan required to be made by it shall not relieve any other Lender of its obligations hereunder;
provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Revolving Loans as required. 

(b) Subject to Section 2.13, each Borrowing of Revolving Loans shall be comprised entirely of ABR Loans or Eurodollar Loans as the
Borrower may request in accordance herewith. Each Lender at its option may make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not
affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement. 
 (c) At the commencement of each
Interest Period for any Eurodollar Borrowing, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $5,000,000. At the time that each ABR Borrowing is made, such Borrowing shall be in an
aggregate amount that is an integral multiple of $1,000,000 and not less than $5,000,000; provided that an ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Commitments; provided,
further, that an ABR Borrowing may be in an aggregate amount that is required to finance the reimbursement of a Letter of Credit drawing as contemplated by Section 2.4(d). Borrowings of more than one Type may be outstanding at the
same time; provided that there shall not at any time be more than a total of ten Eurodollar Borrowings outstanding. 
 (d)
Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date. 

  
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 Section 2.3 Swing Line Loans. During the Availability Period, subject to the
terms and conditions hereof, the Swing Line Lender agrees to make Swing Line Loans to the Borrower in the aggregate amount up to but not exceeding the Swing Line Sublimit; provided that after giving effect to the making of any Swing Line
Loan, in no event shall (i) the Total Utilization of Commitments exceed the Commitments then in effect or (ii) unless otherwise agreed to in writing by the Swing Line Lender, the aggregate amount of Swing Line Loans, Revolving Loans and
Letters of Credit issued by the Swing Line Lender exceed the Swing Line Lender’s Commitments hereunder; provided that the Swing Line Lender shall not be required to make a Swing Line Loan to refinance an outstanding Swing Line Loan.
Amounts borrowed pursuant to this Section 2.3 may be repaid and reborrowed during the Availability Period. The Swing Line Lender’s Commitment shall expire on the Commitment Termination Date and all Swing Line Loans and all other
amounts owed hereunder with respect to the Swing Line Loans and the Commitments shall be paid in full no later than such date. Swing Line Loans shall be made in an aggregate minimum amount of $500,000 and integral multiples of $100,000 in excess of
that amount; provided that a Swing Line Loan may be in an aggregate amount that is required to finance the reimbursement of a Letter of Credit drawing as contemplated by Section 2.4(d). 

(c) The Swing Line Lender may by written notice given to the Administrative Agent not later than 1:00 p.m., New York City time, on any Business
Day require the Lenders to acquire participations on such Business Day in all or a portion of the Swing Line Loans outstanding. Such notice shall specify the aggregate amount of the Swing Line Loans in which the Lenders will be required to
participate. Promptly upon receipt of such notice, the Administrative Agent will give notice thereof to each Lender, specifying in such notice such Lender’s Applicable Percentage of such Swing Line Loan or Loans. Each Lender hereby absolutely
and unconditionally agrees to pay, upon receipt of notice as provided above, to the Administrative Agent, for the account of the Swing Line Lender, such Lender’s Applicable Percentage of such Swing Line Loan or Loans. Each Lender acknowledges
and agrees that, in making any Swing Line Loan, the Swing Line Lender shall be entitled to rely, and shall not incur any liability for relying, upon the representation and warranty of the Borrower deemed made pursuant to Section 4.2,
unless, at least one Business Day prior to the time such Swing Line Loan was made, the Required Lenders or the Borrower shall have notified the Swing Line Lender (with a copy to the Administrative Agent) in writing that, as a result of one or more
events or circumstances described in such notice, one or more of the conditions precedent set forth in Section 4.2(b), (c) or (d) would not be satisfied if such Swing Line Loan were then made (it being understood and
agreed that, in the event the Swing Line Lender shall have received any such notice, it shall have no obligation to make any Swing Line Loan until and unless it shall be satisfied that the events and circumstances described in such notice shall have
been cured or otherwise shall have ceased to exist). Each Lender further acknowledges and agrees that its obligation to acquire participations in Swing Line Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by
any circumstance whatsoever, including the occurrence and continuance of a Default or any reduction or termination of the Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each
Lender shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same manner as provided in Section 2.6 with respect to Loans made by such Lender (and Section 2.6 shall
apply, mutatis mutandis, to the payment obligations of the Lenders pursuant to this paragraph), and the Administrative Agent shall promptly remit to the Swing Line Lender the amounts so received by it from the Lenders. The Administrative Agent shall
notify the Borrower of any participations in any Swing Line Loan acquired pursuant to this paragraph, and thereafter payments in respect of such Swing Line Loan shall be made to the Administrative Agent and not to the Swing Line Lender. Any amounts
received by the Swing Line Lender from the Borrower (or other Person on behalf of the Borrower) in respect of a Swing Line Loan after receipt by the Swing Line Lender of the proceeds of a sale of participations therein shall be promptly remitted to
the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent to the Lenders that shall have made their payments pursuant to this paragraph and to the Swing Line Lender, as
their interests may appear; provided that any such payment so remitted shall be repaid to the Swing Line Lender or to the Administrative Agent, as applicable, if and to the extent such payment is required to be refunded to the Borrower for
any reason. The purchase of participations in a Swing Line Loan pursuant to this paragraph shall not constitute a Loan and shall not relieve the Borrower of its obligation to repay such Swing Line Loan. 

  
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 (d) The Swing Line Lender may resign as Swing Line Lender upon 30 days prior written notice
to the Administrative Agent, the Lenders and the Borrower. The Swing Line Lender may be replaced at any time by written agreement among the Borrower, the Administrative Agent and the successor Swing Line Lender. The Administrative Agent shall notify
the Lenders of any such replacement of the Swing Line Lender. At the time any such replacement or resignation shall become effective, (i) the Borrower shall prepay any outstanding Swing Line Loans made by the resigning or removed Swing Line
Lender, (ii) upon such prepayment, the resigning or removed Swing Line Lender shall surrender any Swing Line Note held by it to the Borrower for cancellation, and (iii) the Borrower shall issue, if so requested by the successor Swing Line
Loan Lender, a new Swing Line Note to the successor Swing Line Lender, in the principal amount of the Swing Line Sublimit then in effect and with other appropriate insertions. From and after the effective date of any such replacement or resignation,
(x) any successor Swing Line Lender shall have all the rights and obligations of a Swing Line Lender under this Agreement with respect to Swing Line Loans made thereafter and (y) references herein to the term “Swing Line Lender”
shall be deemed to refer to such successor or to any previous Swing Line Lender, or to such successor and all previous Swing Line Lenders, as the context shall require. 

Section 2.4 Issuance of Letters of Credit and Purchase of Participations Therein. During the Availability Period, subject to the
terms and conditions hereof, each Issuing Bank agrees to issue Letters of Credit (or amend, extend or increase any outstanding Letter of Credit) at the request and for the account of the Borrower (including for the purpose of supporting obligations
of any Restricted Subsidiary); provided that (i) each Letter of Credit shall be denominated in dollars or a Permitted Foreign Currency; (ii) the stated amount of each Letter of Credit shall not be less than $250,000 or such lesser
amount as is acceptable to the applicable Issuing Bank; (iii) after giving effect to such issuance, amendment, extension or increase, in no event shall the Total Utilization of Commitments exceed the Commitments then in effect; (iv) after
giving effect to such issuance, amendment, extension or increase, in no event shall the aggregate Letter of Credit Usage exceed the Letter of Credit Sublimit then in effect, (v) after giving effect to such issuance, amendment, extension or
increase, in no event shall the Letter of Credit Usage attributable to Letters of Credit issued by any Issuing Bank exceed the Issuing Bank Sublimit of such Issuing Bank, unless otherwise agreed to in writing by such Issuing Bank, (vi) after
giving effect to such issuance, amendment, extension or increase, in no event shall the aggregate amount of Revolving Loans (and Swing Line Loans, in the case of the Swing Line Lender) and Letters of Credit issued by such Issuing Bank exceed such
Issuing Bank’s Commitments hereunder, unless otherwise agreed to in writing by such Issuing Bank, and (vii) in no event shall any Letter of Credit have an expiration date later than the earlier of (5) five Business Days prior to the
Maturity Date and (2) the date which is one year from the date of issuance of such Letter of Credit, unless otherwise agreed to in writing by such Issuing Bank. If the Borrower so requests in the Application for any Letter of Credit, the
applicable Issuing Bank may, in its sole discretion, agree to issue a Letter of Credit that has automatic extension provisions (each such Letter of Credit, an “Auto-Extension Letter of Credit”); provided that any such
Auto-Extension Letter of Credit must permit such Issuing Bank to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof
not later than a day in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the applicable Issuing Bank, the Borrower shall not be required to make a specific request to such
Issuing Bank for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lenders shall be deemed to have authorized (but may not require) the Issuing Bank to permit the extension of such Letter of Credit at any time to an
expiration date not later than the date five days prior to the Maturity Date; provided, however, that the applicable Issuing Bank shall not permit any such extension if (A) such Issuing Bank has determined that it would not be
permitted at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (except that the expiration date may be extended by up to one year from the then-current form), (B) such Issuing Bank has determined that
it would have no obligation at such time to issue such Letter of Credit in its revised form under the terms hereof or (C) it has received notice from the Required Lenders or the Borrower in accordance with Section 2.4(e) that one or
more of the conditions in Section 4.2(b), (c) or (d) would not be satisfied if such Letter of Credit were so extended. If any Lender is a Defaulting Lender, an Issuing Bank shall not be required to issue, amend, extend
or increase any Letter of Credit unless such Issuing Bank has entered into arrangements satisfactory to it and the Borrower to eliminate such Issuing Bank’s risk with respect to the participation in Letters of Credit of such Defaulting Lender,
including by cash collateralizing such Defaulting Lender’s Pro Rata Share of the Letter of Credit Usage at such time on terms satisfactory to such Issuing Bank. Each request by the Borrower for the issuance, amendment, extension or increase of
any Letter of Credit shall be deemed to be a representation and warranty that the conditions set forth in clauses (iii), (iv) and (v) above have been met. 
  

  
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 (a) Whenever the Borrower desires the issuance, amendment, extension or increase of a Letter
of Credit, it shall deliver to the Administrative Agent and the applicable Issuing Bank (i) in the case of a request for the issuance of a Letter of Credit, an Issuance Notice and Application no later than 1:00 p.m. (New York City time) at
least five Business Days in advance of the proposed date of issuance and (ii) in the case of a request for the amendment, extension or increase of a Letter of Credit, a notice and/or letter of credit application, in such form as specified by
the applicable Issuing Bank, identifying the Letter of Credit to be amended, extended or increased and specifying the requested date of amendment, extension or increase (which shall be a Business Day), the date on which such Letter of Credit is to
expire (which shall comply with paragraph (a) of this Section), the amount of such Letter of Credit and such other information as shall be necessary to enable the applicable Issuing Bank to amend, extend or increase such Letter of Credit, no
later than 1:00 p.m. (New York City time) at least five Business Days in advance of the proposed date of such amendment, extension or increase (or such shorter period as the applicable Issuing Bank may agree to in its sole discretion). Each notice
or letter of credit application delivered pursuant to this Section 2.4(b) shall be accompanied by documentary and other evidence of the proposed beneficiary’s identity as may reasonably be requested by the applicable Issuing Bank to
enable such Issuing Bank to verify the beneficiary’s identity or to comply with any applicable laws or regulations, including the USA Patriot Act. Upon satisfaction or waiver of the conditions set forth in Section 4.2, the
applicable Issuing Bank shall issue or amend, extend or increase the requested Letter of Credit only in accordance with such Issuing Bank’s standard operating procedures as in effect from time to time. Notwithstanding any other provision of
this Agreement or any other Loan Document to the contrary, no Issuing Bank shall be required to issue, amend, extend or increase any Letter of Credit if (y) any order, judgment or decree of any Governmental Authority or arbitrator shall by its
terms purport to enjoin or restrain such Issuing Bank from issuing such Letter of Credit, or any law applicable to such Issuing Bank shall prohibit, or require that such Issuing Bank refrain from, the issuance of letters of credit generally or such
Letter of Credit in particular or shall impose upon such Issuing Bank with respect to such Letter of Credit any restriction, reserve or capital requirement (for which such Issuing Bank is not otherwise compensated hereunder) not in effect on the
Effective Date, or shall impose upon such Issuing Bank any unreimbursed loss, cost or expense that was not applicable on the Effective Date and that such Issuing Bank in good faith deems material to it or (z) such Letter of Credit would violate
such Issuing Bank’s standard policies and procedures regarding the issuance of letters of credit as in effect from time to time (to the extent not in conflict with the requirements of this Section 2.4 or as otherwise accepted by the
Borrower). Notwithstanding anything contained in any Application furnished to any Issuing Bank in connection with the issuance of any Letter of Credit or any notice or letter of credit application furnished to any Issuing Bank in connection with the
amendment, extension or increase of any Letter of Credit, in the event of any conflict between the terms and conditions of such Application or notice or letter of credit application, on the one hand, and the terms and conditions of this Agreement,
on the other hand, the terms and conditions of this Agreement shall control. Upon the issuance of any Letter of Credit or amendment, extension or increase thereof, the applicable Issuing Bank shall promptly notify the Administrative Agent, and the
Administrative Agent shall promptly notify each Lender of the amount thereof, which notice from the Administrative Agent shall be accompanied by a copy of such Letter of Credit or amendment, extension or increase thereof and the amount of such
Lender’s respective participation in such Letter of Credit pursuant to Section 2.4(e). 
  

  
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 (b) In determining whether to honor any drawing under any Letter of Credit by the
beneficiary(ies) thereof, the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of a Letter of Credit, the applicable Issuing Bank may, in its sole discretion, either
accept and make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make payment upon such documents, if such documents are not in strict
compliance with the terms of such Letter of Credit. As between the Borrower and an Issuing Bank, the Borrower assumes all risks of the acts and omissions of, or misuse of the Letters of Credit issued by such Issuing Bank, by the respective
beneficiaries of such Letters of Credit; provided that such assumption of risk by the Borrower shall not affect any rights that the Borrower may have against any such beneficiary. In furtherance and not in limitation of the foregoing, an
Issuing Bank shall not be responsible or have any liability for: (i) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted by any party in connection with the application for and issuance of any such
Letter of Credit, even if it should in fact prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged; (ii) the validity or sufficiency of any instrument transferring or assigning or purporting to transfer or
assign any such Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason; (iii) failure of the beneficiary of any such Letter of Credit to comply
fully with any conditions required in order to draw upon such Letter of Credit; (iv) errors, omissions, interruptions or delays in transmission or delivery of any messages, by mail, cable, telegraph, telex or otherwise, whether or not they be
in cipher; (v) errors in interpretation of technical terms; (vi) any loss or delay in the transmission or otherwise of any document required in order to make a drawing under any such Letter of Credit or of the proceeds thereof;
(vii) the misapplication by any beneficiary of any such Letter of Credit of the proceeds of any drawing under such Letter of Credit; (viii) any other action or inaction taken or suffered by such Issuing Bank under or in connection with any
such Letter of Credit, if required under, or expressly authorized under the circumstances by, any applicable domestic or foreign law or letter of credit practice or (ix) any consequences arising from causes beyond the control of such Issuing
Bank, including any Governmental Acts; none of the above shall affect or impair, or prevent the vesting of, any of such Issuing Bank’s rights or powers hereunder or place such Issuing Bank under any liability to the Borrower. Without limiting
the foregoing and in furtherance thereof, any action taken or omitted by any Issuing Bank under or in connection with any Letter of Credit issued by it or any documents and certificates delivered thereunder, if taken or omitted in “good
faith” (as such term is defined in Article 5 of the New York Uniform Commercial Code), shall not give rise to any liability on the part of such Issuing Bank to the Borrower. Notwithstanding anything to the contrary contained in this
Section 2.4(c), the applicable Issuing Bank shall not be excused from liability to the Borrower to the extent of any direct damages (as opposed to special, indirect, consequential or punitive damages, claims in respect of which are
hereby waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower that are caused by such Issuing Bank’s failure to exercise care when determining whether drafts and other documents presented under a Letter of
Credit comply with the terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of any Issuing Bank (as determined by a final, non-appealable
judgment of a court of competent jurisdiction), such Issuing Bank shall be deemed to have exercised care in each such determination. 

  
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 (c) In the event any Issuing Bank has honored a drawing under a Letter of Credit on any date
(a “Disbursement Date”), it shall promptly notify the Borrower and the Administrative Agent of the amount of such drawing and of the applicable Disbursement Date. The Borrower shall reimburse such Issuing Bank by paying to the
Administrative Agent for the account of such Issuing Bank on or before the Business Day immediately following the date on which such drawing is honored (the “Reimbursement Date”) an amount in same day funds equal to the dollar
amount or the Permitted Foreign Currency amount, as applicable, of such honored drawing, together in each case with accrued and unpaid interest as provided in Section 2.12; provided that the Borrower may, subject to the conditions to
borrowing set forth herein, request in accordance with Section 2.3 or 2.5 that such payment be financed with a Swing Line Loan or an ABR Borrowing and, to the extent so financed, the Borrower’s obligation to make such payment
shall be discharged and replaced by the resulting Swing Line Loan or ABR Borrowing. If the Borrower fails to reimburse any honored drawing under any Letter of Credit on or before the Reimbursement Date, the Administrative Agent shall notify each
Lender of such failure, the payment then due from the Borrower in respect of such honored drawing, and such Lender’s Applicable Percentage thereof. Promptly following receipt of such notice, each Lender shall pay to the Administrative Agent,
(i) if the currency of the applicable Letter of Credit is dollars, then in dollars and (ii) if the currency of the applicable Letter of Credit is a Permitted Foreign Currency, then in dollars in an amount equal to the Dollar Equivalent of,
its Applicable Percentage of the amount then due from the Borrower, in the same manner as provided in Section 2.6 with respect to Loans made by such Lender (and Section 2.6 shall apply, mutatis mutandis, to the payment
obligations of the Lenders pursuant to this paragraph), and the Administrative Agent shall promptly remit to the applicable Issuing Bank the amounts so received by it from the Lenders. Promptly following receipt by the Administrative Agent of any
payment from the Borrower pursuant to this paragraph, the Administrative Agent shall distribute such payment to the applicable Issuing Bank or, to the extent that Lenders have made payments pursuant to this paragraph to reimburse such Issuing Bank,
then to such Lenders and such Issuing Bank as their interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse an Issuing Bank for an honored drawing under a Letter of Credit (other than the funding of a Swing Line
Loan or an ABR Borrowing as contemplated above) shall not constitute a Loan and shall not relieve the Borrower of its obligation to reimburse such drawing. If any Lender fails to make available to the Administrative Agent for the account of the
relevant Issuing Bank any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.4(d) by the time specified herein, such Issuing Bank shall be entitled to recover from such Lender (acting through
the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to such Issuing Bank at a rate per annum equal to the greater of
the NYFRB Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect. 

(d) Immediately upon the issuance, extension or increase of each Letter of Credit, without any further action by any Person, the applicable
Issuing Bank shall be deemed to have sold to each Lender and each Lender shall have been deemed to have purchased from such Issuing Bank a participation in such Letter of Credit and any drawings honored thereunder in an amount equal to such
Lender’s Applicable Percentage of the maximum amount which is or at any time may become available to be drawn thereunder. In consideration and in furtherance of the foregoing, each Lender hereby irrevocably, absolutely and unconditionally
agrees to pay to the Administrative Agent, for the account of such Issuing Bank, such Lender’s Applicable Percentage of each drawing honored by such Issuing Bank under such Letter of Credit and not reimbursed by the Borrower on or prior to the
applicable Reimbursement Date, or of any reimbursement payment required to be refunded to the Borrower or otherwise returned for any reason. Each Lender acknowledges and agrees that its obligation to fund participations pursuant to this paragraph in
respect of Letters of Credit is irrevocable, absolute and unconditional and shall not be affected by any circumstance whatsoever, including any amendment, extension or increase of any Letter of Credit, the occurrence and continuance of a Default,
any reduction or termination of the Commitments or any force majeure or other event that under any rule of law or uniform practices to which any Letter of Credit is subject (including Rules 3.13 and 3.14 of ISP 98 or similar terms in the Letter of
Credit itself) permits a drawing to be made under such Letter of Credit after the expiration thereof or after the expiration or termination of the Commitments or any other circumstance or happening whatsoever, whether or not similar to any of the
foregoing, including those set forth in the following paragraph (f), and that each such payment shall be made without any defense, offset, abatement, withholding or reduction whatsoever and in dollars or the applicable Permitted Foreign Currency, as
applicable; provided that, notwithstanding anything herein to the contrary, any participation held by a Lender shall not survive the Maturity Date unless otherwise agreed to in writing by such Lender. Each Lender further acknowledges and
agrees that, in issuing, amending, extending or increasing any Letter of Credit, the applicable Issuing Bank shall be entitled to rely, and shall not incur any liability for relying, upon the representations and warranties of the Borrower deemed
made pursuant to Sections 2.4 and 4.2, unless, at least one Business Day prior to the time such Letter of Credit is issued, amended, extended or increased (or, in the case of an automatic extension permitted pursuant to paragraph
(a) of this Section, at least one Business Day prior to the time by which the election not to extend must be made by the applicable Issuing Bank), the Required Lenders or the Borrower shall have notified the applicable Issuing Bank (with
a copy to the Administrative Agent) in writing that, as a result of one or more events or circumstances described in such notice, one or more of the conditions precedent set forth in Section 2.4(a)(iii), 2.4(a)(iv),
2.4(a)(v), 4.2(b), 4.2(c) or 4.2(d) would not be satisfied if such Letter of Credit were then issued, amended, extended or increased (it being understood and agreed that, in the event any Issuing Bank shall have received
any such notice, no Issuing Bank shall have any obligation to issue, amend, extend or increase any Letter of Credit until and unless it shall be satisfied that the events and circumstances described in such notice shall have been cured or otherwise
shall have ceased to exist). 

  
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 (e) The obligation of the Borrower to reimburse each Issuing Bank for drawings honored under
the Letters of Credit issued by it shall be absolute, unconditional and irrevocable and shall be paid strictly in accordance with the terms hereof under all circumstances including any of the following circumstances: (i) any lack of
validity or enforceability of any Letter of Credit; (ii) the existence of any claim, set off, defense or other right which the Borrower may have at any time against a beneficiary or any transferee of any Letter of Credit (or any Persons
for whom any such transferee may be acting), any Issuing Bank, Lender or any other Person, whether in connection herewith, the transactions contemplated herein or any unrelated transaction (including any underlying transaction between the Borrower
or one of its Restricted Subsidiaries and the beneficiary(ies) for which any Letter of Credit was procured); (iii) any draft or other document presented under any Letter of Credit proving to be forged, fraudulent, invalid or insufficient in any
respect or any statement therein being untrue or inaccurate in any respect; (iv) payment by such Issuing Bank under any Letter of Credit against presentation of a draft or other document which does not substantially comply with the terms
of such Letter of Credit; (v) any adverse change in the business, operations, properties, assets, condition (financial or otherwise) or prospects of the Borrower or any of its Restricted Subsidiaries or any other Person;
(vi) any breach hereof by any party hereto or any other Loan Document by any party thereto; (vii) any force majeure or other event that under any rule of law or uniform practices to which any Letter of Credit is subject
(including Rules 3.13 and 3.14 of ISP 98 or similar terms in the Letter of Credit itself) permits a drawing to be made under such Letter of Credit after the expiration thereof or after the expiration or termination of the Commitments;
(viii) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing; or (ix) the fact that an Event of Default or a Default shall have occurred and be continuing. 

(f) Without duplication of any obligation of the Borrower under Section 10.3, in addition to amounts payable as provided herein,
the Borrower hereby agrees to protect, indemnify, pay and save and hold harmless each Issuing Bank from and against any and all claims, demands, liabilities, damages and losses, and all reasonable, documented and invoiced costs, charges and
out-of-pocket expenses (including reasonable fees, out-of-pocket expenses and disbursements of one primary counsel (and in the case of an actual or potential conflict of interest where any Issuing Bank affected by such conflict informs the Borrower
of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected Issuing Bank) and one local counsel in each relevant material jurisdiction), which such Issuing Bank may incur or be subject to as a consequence of
(i) the issuance, amendment, extension or increase of any Letter of Credit by such Issuing Bank, any demand for payment thereunder, any payment or other action taken or omitted to be taken in connection with such Letter of Credit or this Agreement,
or any transaction(s) supported by such Letter of Credit, other than as a result of (1) the gross negligence or willful misconduct of such Issuing Bank as determined by a final, non-appealable judgment of a court of competent jurisdiction or
(2) the wrongful dishonor by such Issuing Bank of a presentation under any Letter of Credit which strictly complies with the terms and conditions of such Letter of Credit, or (ii) the failure of such Issuing Bank to honor a
drawing under any such Letter of Credit as a result of any Governmental Act. The Borrower will pay all amounts owing under this Section promptly after written demand therefor. 

  
 -51- 

 (g) An Issuing Bank may resign as an Issuing Bank by providing at least 30 days prior
written notice to the Administrative Agent, the Lenders and the Borrower. An Issuing Bank may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced Issuing Bank (provided that no consent will
be required if the replaced Issuing Bank has no Letters of Credit or reimbursement obligations with respect thereto outstanding) and the successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such resignation or replacement
of such Issuing Bank. From and after the effective date of any such replacement or resignation, (i) any successor Issuing Bank shall have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit
to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall
require. At the time any such resignation or replacement shall become effective, (A) the Borrower shall pay all unpaid fees accrued for the account of the resigning or replaced Issuing Bank pursuant to Sections 2.11(c) and
(d) and (B) the resigning or replaced Issuing Bank shall remain a party hereto to the extent that Letters of Credit issued by it remain outstanding and shall continue to have all the rights and obligations of an Issuing Bank under this
Agreement with respect to Letters of Credit issued by it prior to such resignation or replacement. After the replacement or resignation of an Issuing Bank hereunder, the resigning or replaced Issuing Bank shall not be required to issue, amend,
extend or increase any Letters of Credit. 
 (h) The Borrower may, at any time and from time to time, with the consent of the Administrative
Agent (which consent shall not be unreasonably withheld), designate as additional Issuing Banks one or more Lenders that agree to serve in such capacity as provided below. The acceptance by a Lender of an appointment as an Issuing Bank hereunder
shall be evidenced by a written agreement, which shall be in form and substance reasonably satisfactory to the Administrative Agent, executed by the Borrower, the Administrative Agent and such designated Lender and, from and after the effective date
of such agreement, (i) such Lender shall have all the rights and obligations of an Issuing Bank under this Agreement and (ii) references herein to the term “Issuing Bank” shall be deemed to include such Lender in its
capacity as an issuer of Letters of Credit hereunder. 

  
 -52- 

 (i) If any Event of Default shall occur and be continuing, on the Business Day that the
Borrower receives notice from the Administrative Agent or the Required Lenders demanding the deposit of cash collateral pursuant to this paragraph, the Borrower shall deposit in an account with the Administrative Agent, in the name of the
Administrative Agent and for the benefit of the applicable Issuing Bank, an amount in cash equal to 103% of Letter of Credit Usage attributable to all outstanding Letters of Credit as of such date (provided that, if the Letter of Credit Usage
increases at any time following such deposit, the Borrower shall, at the request of the Administrative Agent or the Required Lenders, deposit additional amounts in cash in dollars or the applicable Permitted Foreign Currency, as applicable, so that
such deposit account holds at least 103% of the amount of Letter of Credit Usage of all outstanding Letters of Credit at any time) plus any accrued and unpaid interest thereon, in each case in dollars or the applicable Permitted Foreign Currency, as
applicable; provided that the obligation to deposit such cash collateral shall become effective immediately, and such cash collateral shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of
any Event of Default with respect to the Borrower described in clauses (h) or (i) of Article VIII Such cash collateral shall be held by the Administrative Agent as collateral for the payment and performance of the obligations of the Borrower
under this Agreement. The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account. Other than any interest earned on the investment of such cash collateral, which investments
shall be made at the option and sole discretion of the Administrative Agent and at the Borrower’s risk and expense, such cash collateral shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account.
Moneys in such account shall be applied by the Administrative Agent to reimburse each Issuing Bank for any disbursements under Letters of Credit issued by it for which it has not been reimbursed and, to the extent not so applied, shall be held as
cash collateral for the satisfaction of the reimbursement obligations of the Borrower for the Letter of Credit Usage of each Issuing Bank at such time, and after such cash collateralization and/or payment in full of all Letter of Credit Usage of
each Issuing Bank, may be applied to satisfy other Obligations of the Borrower under this Agreement. If the Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to
the extent not applied as aforesaid) shall be returned to the Borrower (or as otherwise ordered by a court of competent jurisdiction) within five Business Days after all Events of Default have been cured or waived. 

(j) Unless otherwise expressly agreed by the applicable Issuing Bank and the Borrower when a Letter of Credit is issued, the rules of the ISP
98 shall be stated therein to apply to each Letter of Credit. Notwithstanding the foregoing, no Issuing Bank shall be responsible to the Borrower for, and each Issuing Bank’s rights and remedies against the Borrower shall not be impaired by,
any action or inaction of -56- such Issuing Bank required under, or expressly authorized under the circumstances by, any applicable law, order, or practice that is
required to be applied to any Letter of Credit or this Agreement, including the law or any order of a jurisdiction where such Issuing Bank or the beneficiary of any Letter of Credit is located, the practice stated in the ISP 98, or in the decisions,
opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade, Inc. (BAFT), or the Institute of International Banking Law & Practice, whether or not any such law or
practice is applicable to any Letter of Credit. 
 (k) Notwithstanding that a Letter of Credit issued or outstanding hereunder supports any
obligations of, or is for the account of, a Restricted Subsidiary, or states that a Restricted Subsidiary is the “account party,” “applicant,” “customer,” “instructing party,” or the like of or for such Letter
of Credit, and without derogating from any rights of the applicable Issuing Bank (whether arising by contract, at law, in equity or otherwise) against such Restricted Subsidiary in respect of such Letter of Credit, the Borrower (i) shall
reimburse, indemnify and compensate the applicable Issuing Bank hereunder for such Letter of Credit (including to reimburse any and all drawings thereunder) as if such Letter of Credit had been issued solely for the account of the Borrower and
(ii) irrevocably waives any and all defenses that might otherwise be available to it as a guarantor or surety of any or all of the obligations of such Restricted Subsidiary in respect of such Letter of Credit. The Borrower hereby
acknowledges that the issuance of such Letters of Credit for its Restricted Subsidiaries inures to the benefit of the Borrower, and that the Borrower’s business derives substantial benefits from the businesses of such Restricted Subsidiaries.

  
 -53- 

 Section 2.5 Requests for Borrowings. To request a Borrowing, the Borrower shall
notify the Administrative Agent of such request by telephone or in writing (a) in the case of a Eurodollar Borrowing, not later than 12:00 p.m., New York City time, three Business Days before the date of the proposed Borrowing,
(b) in the case of an ABR Borrowing, not later than 1:00 p.m., New York City time, one Business Day prior to the date of the proposed Borrowing or (c) in the case of a Borrowing of a Swing Line Loan, not later than 12:00
p.m., New York City time, on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy (or other facsimile transmission) to the Administrative Agent
of a written Borrowing Request in substantially the form of Exhibit B-l attached hereto and signed by a Responsible Officer of the Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance
with Section 2.2 and Section 2.3: 
 (i) the aggregate amount of the requested Borrowing; 

(ii) the date of such Borrowing, which shall be a Business Day; 

(iii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; 

(iv) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period contemplated by the
definition of the term “Interest Period”; and 
 (v) the location and number of the account or accounts of the Borrower to which
funds are to be disbursed, which shall comply with the requirements of Section 2.6, or, in the case of any Loan requested to finance the reimbursement of drawing under a Letter of Credit as provided in Section 2.4(d), the
identity of the Issuing Bank that has honored such drawing. 
 If no election as to the Type of Borrowing is specified with respect to
Revolving Loans, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s
duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested
Borrowing. 
 Section 2.6 Funding of Borrowings. (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date
thereof by wire transfer of immediately available funds by 12:00 noon, New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders; provided that Swing Line Loans
shall be made by the Swing Line Lender to the Borrower by means of a wire transfer to the account specified in such Borrowing Request or to the applicable Issuing Bank, as the case may be, by 3:00 p.m., New York City time, on the requested date of
such Swing Line Loan. Except as otherwise specified in the immediately preceding sentence, the Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an account or
accounts designated by the Borrower in the applicable Borrowing Request. Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will not make available to the
Administrative Agent such Lender’s Applicable Percentage of such Borrowing, the Administrative Agent may assume that such Lender has made such Applicable Percentage available on such date in accordance with paragraph (a) of this Section
and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its Applicable Percentage of the applicable Borrowing available to the Administrative Agent, then the
applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but
excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the NYFRB Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank
compensation or (ii) in the case of the Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such
Borrowing. 

  
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 Section 2.7 Interest Elections. Each Borrowing initially shall be of the Type
specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have an initial Interest Period as specified in such Borrowing Request or as otherwise provided in Section 2.5; provided that Swing
Line Loans shall be made and maintained as ABR Borrowings only. Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing, may elect Interest Periods
therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans
comprising such Borrowing in accordance with their respective Applicable Percentages, and the Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply to Swing Line Loans, which may not be converted
or continued. 
 (a) To make an election pursuant to this Section, the Borrower shall notify the Administrative Agent of such election by
telephone by the time that a Borrowing Request would be required under Section 2.5 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such
telephonic request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy (or other facsimile transmission) to the Administrative Agent of a written request (an “Interest Election Request”) in substantially the
form of Exhibit C attached hereto and signed by a Responsible Officer of the Borrower. 
 (b) Each telephonic and written Interest Election
Request shall specify the following information in compliance with Section 2.2: 
 (i) the Borrowing to which such Interest
Election Request applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses
(iii) and (iv) below shall be specified for each resulting Borrowing); 
 (ii) the effective date of the election made pursuant
to such Interest Election Request, which shall be a Business Day; 
 (iii) whether the resulting Borrowing is to be an ABR Borrowing or a
Eurodollar Borrowing; and 
 (iv) if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be applicable thereto after
giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. 
 If any
such Interest Election Request requests a Eurodollar Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. 

(c) Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the details thereof and of
such Lender’s portion of each resulting Borrowing. 

  
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 (d) If the Borrower fails to deliver a timely Interest Election Request with respect to a
Eurodollar Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be continued as a Eurodollar Borrowing with an
Interest Period of one month’s duration. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing, (i) no outstanding Borrowing may be converted to or continued as a Eurodollar Borrowing
and (ii) unless repaid, each Eurodollar Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto. 

Section 2.8 Termination and Reduction of Commitments. Unless previously terminated, all of the Commitments shall terminate
on the Commitment Termination Date. 
 (a) The Borrower may at any time terminate, or from time to time reduce, the Commitments;
provided that (i) each reduction of the Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (ii) the Borrower shall not terminate or reduce the -59- Commitments if,
after giving effect to any concurrent prepayment of the Loans in accordance with Section 2.10, the Total Utilization of Commitments would exceed the total Commitments. 

(b) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph (b) of this
Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders
of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination or reduction of the Commitments delivered by the Borrower may state that such notice is
conditioned upon the effectiveness of other credit facilities or another transaction, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is
not satisfied. Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments shall be applied to the Lenders in accordance with their respective Applicable Percentages. 

Section 2.9 Repayment of Loans; Evidence of Debt. (a) The Borrower hereby unconditionally promises to pay
(i) to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Revolving Loan on the Maturity Date and (ii) to the Swing Line Lender the then unpaid principal amount of each Swing Line
Loan on the earlier of the Maturity Date and the fifth Business Day after such Swing Line Loan is made; provided that any Swing Line Loan that is not repaid by the fifth Business Day after such Swing Line Loan is made shall automatically be
converted to a Revolving Loan and shall be deemed to have been repaid on the fifth Business Day after such Swing Line Loan was made; provided, further, that on each date that a Borrowing consisting of Revolving Loans is made, the
Borrower shall repay all Swing Line Loans that were outstanding on the date such Borrowing was requested. 
 (b) Each Lender shall maintain
in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender
from time to time hereunder. 
 (c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan
made hereunder, the Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the
amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. 

  
 -56- 

 (d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this
Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein (absent manifest error); provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error therein
shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. 
 (e) Any
Lender may request that Loans made by it be evidenced by a Note. In such event, the Borrower shall prepare, execute and deliver to such Lender a Note payable to such Lender (or, if requested by such Lender, to such Lender and its registered
assigns). Thereafter, the Loans evidenced by such Note and interest thereon shall at all times (including after assignment pursuant to Section 10.4) be -60- represented by one or more Notes in such form payable to the payee named therein
(or, if such Note is a registered note, to such payee and its registered assigns). 
 Section 2.10 Prepayment of Loans. The
Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, without premium or penalty (subject to the requirements of Section 2.15), subject to prior notice in accordance with this Section. The
Borrower shall notify the Administrative Agent (and, in the case of prepayment of a Swing Line Loan, the Swing Line Lender) by telephone (confirmed by telecopy (or other facsimile transmission or by electronic mail) or hand delivery of written
notice) or in writing of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 12:00 p.m., New York City time, three Business Days before the date of prepayment, (ii) in the case of prepayment of an
ABR Borrowing, not later than 1:00 p.m., New York City time, one Business Day before the date of prepayment and (iii) in the case of prepayment of a Swing Line Loan, not later than 1:00 p.m., New York City time, on the date of prepayment. Each such
notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional notice of
reduction or termination of the Commitments as contemplated by Section 2.8, then such notice of prepayment may be revoked if such notice of reduction or termination is revoked in accordance with Section 2.8. Promptly
following receipt of any such notice relating to a Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that would be permitted in the case of an advance
of a Borrowing of the same Type as provided in Section 2.2. 
 (a) The Borrower shall from time to time prepay first, the Swing
Line Loans, and second, the Revolving Loans to the extent necessary so that the Total Utilization of Commitments shall not at any time exceed the Commitments then in effect. 

(b) Each prepayment of a Borrowing shall be applied ratably to the Loans of the Lenders in accordance with their respective Applicable
Percentages. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.12 and any costs incurred as contemplated by Section 2.15. 

Section 2.11 Fees. The Borrower agrees to pay to the Administrative Agent for the account of each Lender (other than any
Defaulting Lender) a commitment fee, which shall accrue at a rate of 0.20% per annum on the daily amount of the unused Commitment of such Lender during the period from and including the Effective Date to but excluding the date on which such
Commitment terminates. Accrued commitment fees shall be payable in arrears on the last day of March, June, September and December of each year and on the date on which the Commitments terminate, commencing on the first such date to occur after the
Effective Date. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). For purposes of computing commitment fees, a
Commitment of a Lender shall be deemed to be used to the extent of the outstanding Revolving Loans and Letter of Credit Usage of such Lender (and the Swing Line Exposure of such Lender shall be disregarded for such purpose). 

  
 -57- 

 (b) The Borrower agrees to pay to the Administrative Agent for the account of each Lender
(other than any Defaulting Lender) letter of credit fees equal to (A) the Applicable Rate for Revolving Loans that are Eurodollar Loans, multiplied by (B) the average aggregate daily maximum amount available to be drawn under all such
Letters of Credit (determined as of the close of business on any date of -61- determination) (regardless of whether any conditions for drawing could then be met and
determined as of the close of business on any date of determination) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s Commitment terminates and the date on which such Lender
ceases to have any Letter of Credit Usage. Such letter of credit fees shall be paid on a quarterly basis in arrears and shall be due and payable on the tenth Business Day after the end of each March, June, September and December in respect of the
most recently ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of any Letter of Credit, on the Commitment Termination Date and thereafter on demand. 

(c) The Borrower agrees to pay directly to each Issuing Bank, for its own account, the following fees: 

(i) a fronting fee equal to 0.125% per annum (or such other amount as may be agreed between the Borrower and such Issuing Bank), multiplied by
the average aggregate daily maximum amount available to be drawn under all Letters of Credit issued by such Issuing Bank (determined as of the close of business on any date of determination) (regardless of whether any conditions for drawing could
then be met and determined as of the close of business on any date of determination) from and including the Effective Date to but excluding the later of the date of termination of the Commitments and the date on which there ceases to be any Letter
of Credit Usage attributable to Letters of Credit issued by such Issuing Bank; and 
 (ii) such documentary and processing charges for any
issuance, amendment, transfer or payment of a Letter of Credit as are in accordance with such Issuing Bank’s standard schedule for such charges and as in effect at the time of such issuance, amendment, transfer or payment, as the case may be.

 Such fronting fee shall be paid on a quarterly basis in arrears and shall be due and payable on the tenth Business Day after the end of
each March, June, September and December in respect of the most recently ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the
Commitment Termination Date and thereafter on demand. Such documentary and processing charges are due and payable on demand. 
 (d) The
Borrower agrees to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the times separately agreed upon between the Borrower and the Administrative Agent. 

(e) All fees payable hereunder shall be paid on the dates due, in dollars in immediately available funds, to the parties specified herein. Fees
paid shall not be refundable under any circumstances. 

  
 -58- 

 Section 2.12 Interest. The Loans comprising each ABR Borrowing (including each
Swing Line Loan) shall bear interest at the Alternate Base Rate plus the Applicable Rate. 
 (a) The Loans comprising each Eurodollar
Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Rate. 
 (b)
Notwithstanding the foregoing, at all times when an Event of Default listed in paragraph (a), (b), (h) or (i) of Article VIII has occurred hereunder and is continuing, all overdue amounts -62- outstanding hereunder shall bear interest, after as well as before judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable to
such Loan as provided in the preceding paragraphs of this Section or (ii) in the case of any other overdue amount, 2% plus the rate applicable to ABR Loans as provided in paragraph (a) of this Section. 

(c) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and upon termination of the
Commitments; provided that (i) interest accrued pursuant to paragraph (c) of this Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Loan prior to
the end of the Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any Eurodollar Loan prior to the end of the
current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. 
 (d) All
interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year
of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be
determined by the Administrative Agent, and such determination shall be conclusive absent manifest error. 
 (e) The Borrower agrees to pay
to each Issuing Bank, with respect to drawings honored under any Letter of Credit issued by such Issuing Bank, interest on the amount paid by such Issuing Bank in respect of each such honored drawing from the date such drawing is honored to but
excluding the date such amount is reimbursed by or on behalf of the Borrower at a rate equal to (i) for the period from the applicable Disbursement Date to but excluding the applicable Reimbursement Date, the rate of interest otherwise payable
hereunder with respect to Revolving Loans that are ABR Loans, and (ii) thereafter, a rate which is 2% per annum in excess of the rate of interest otherwise payable hereunder with respect to Revolving Loans that are ABR Loans. 

(f) Interest payable pursuant to Section 2.12(f) shall be computed on the basis of a 365/366 day year for the actual number of days
elapsed in the period during which it accrues, and shall be payable on demand or, if no demand is made, on the date on which the related drawing under a Letter of Credit is reimbursed in full. In the event any Issuing Bank shall have been reimbursed
by Lenders for all or any portion of any honored drawing, such Issuing Bank shall distribute to the Administrative Agent, for the account of each Lender which has paid all amounts payable by it under Section 2.4(d) with respect to such
honored drawing, such Lender’s Applicable Percentage of any interest received by such Issuing Bank in respect of that portion of such honored drawing so reimbursed by such Lender for the period from the date on which such Issuing Bank was so
reimbursed by such Lender to but excluding the date on which such portion of such honored drawing is reimbursed by the Borrower. 

  
 -59- 

 Section 2.13 Alternate Rate of Interest. 

(a) Subject to clauses (b), (c), (d), (e), (f) and (g) of this Section 2.13, if
prior to the commencement of any Interest Period for a Eurodollar Borrowing: 
 (i) the Administrative Agent determines (which determination
shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate (including because the Screen Rate is not available or published on a current basis), for such Interest Period;
provided that no Benchmark Transition Event shall have occurred at such time; or 
 (ii) the Administrative Agent is advised by the
Required Lenders that the Adjusted LIBO Rate for such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing for such Interest Period;
then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone, telecopy or electronic mail as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that
the circumstances giving rise to such notice no longer exist, (A) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective and (B) if
any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as a ABR Borrowing; provided that if the circumstances giving rise to such notice affect only one Type of Borrowings, then the other Type of Borrowings shall be
permitted. 
 (b) Notwithstanding anything to the contrary herein or in any other Loan Document, if a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then (x) if a Benchmark Replacement
is determined in accordance with clause (1) or (2) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan
Document in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document and (y) if a Benchmark Replacement is
determined in accordance with clause (3) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document
in respect of any Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Lenders without any amendment to, or further action or consent of
any other party to, this Agreement or any other Loan Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required Lenders. 

(c) Notwithstanding anything to the contrary herein or in any other Loan Document and subject to the proviso to this paragraph, if a Term SOFR
Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then the applicable Benchmark Replacement will replace the then-current Benchmark for all
purposes hereunder or under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings, without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document;
provided that, this clause (c) shall not be effective unless the Administrative Agent has delivered to the Lenders and the Borrower a Term SOFR Notice. For the avoidance of doubt, the Administrative Agent shall not be required to deliver
a Term SOFR Notice after a Term SOFR Transition Event and may do so in its sole discretion. 

  
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 (d) In connection with the implementation of a Benchmark Replacement, the Administrative
Agent will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming
Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document. 
 (e)
The Administrative Agent will promptly notify the Borrower and the Lenders of (i) any occurrence of a Benchmark Transition Event, a Term SOFR Transition Event or an Early Opt-in Election, as applicable,
and its related Benchmark Replacement Date, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes, (iv) the removal or reinstatement of any tenor of a Benchmark
pursuant to clause (f) below and (v) the commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision or election that may be made by the Administrative Agent or, if applicable, any Lender (or group of
Lenders) pursuant to this Section 2.13, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any
decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Loan
Document, except, in each case, as expressly required pursuant to this Section 2.13. 
 (f) Notwithstanding anything to the
contrary herein or in any other Loan Document, at any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including Term SOFR or the Adjusted LIBO Rate) and either
(A) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion or (B) the regulatory supervisor for
the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is or will be no longer representative, then the Administrative Agent may modify the definition of
“Interest Period” for any Benchmark settings at or after such time to remove such unavailable or non-representative tenor and (ii) if a tenor that was removed pursuant to clause (i) above
either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is or will no longer be representative for a
Benchmark (including a Benchmark Replacement), then the Administrative Agent may modify the definition of “Interest Period” for all Benchmark settings at or after such time to reinstate such previously removed tenor. 

(g) Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request
for a Eurodollar Borrowing of, conversion to or continuation of Eurodollar Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a
request for a Borrowing of or conversion to ABR Loans. During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of Alternate Base Rate based upon the then-current
Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of Alternate Base Rate. 

Section 2.14 Increased Costs. (a) If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets
of, deposits with or for the account of, or credit extended by or participated in, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate) or Issuing Bank; 

  
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 (ii) impose on any Lender or Issuing Bank or the London interbank market any other
condition, cost or expense (other than Taxes) affecting this Agreement or Eurodollar Loans made by such Lender or any Letter of Credit or participation therein; or 

(iii) impose on any Recipient any Taxes (other than Indemnified Taxes, Other Taxes, Other Connection Taxes that are imposed on or measured by
net income (however denominated) or that are franchise Taxes or branch profits Taxes, or Tax described in clauses (b) through (d) of the definition of Excluded Taxes), on its loans, loan principal, letters of credit, commitments, or other
obligations, or its deposits, reserves, other liabilities or capital attributable thereto; and the result of any of the foregoing shall be to increase the cost to such Lender or other Recipient of making, converting to, continuing or maintaining any
Eurodollar Loan (or of maintaining its obligation to make any such Loan) or to increase the cost to such Lender, Issuing Bank or other Recipient of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to
participate in or issue any Letter of Credit) or to reduce the amount of any sum received or receivable by such Lender, Issuing Bank or other Recipient hereunder (whether of principal, interest or otherwise), then the Borrower will pay to such
Lender, Issuing Bank or other Recipient, as the case may be, such additional amount or amounts as will compensate such Lender or other Recipient, as the case may be, for such additional costs incurred or reduction suffered. 

(b) If any Lender or Issuing Bank determines that any Change in Law regarding capital or liquidity requirements has or would have the effect of
reducing the rate of return on such Lender’s or Issuing Bank’s capital or on the capital or liquidity of such Lender’s or Issuing Bank’s holding company, if any, as a consequence of this Agreement, the Commitments hereunder, the
Loans made by such Lender or participations in Letters of Credit held by such Lender, or the Letters of Credit issued by such Issuing Bank, to a level below that which such Lender or Issuing Bank or such Lender’s or Issuing Bank’s holding
company could have achieved but for such Change in Law (taking into consideration such Lender’s or Issuing Bank’s policies and the policies of such Lender’s or Issuing Bank’s holding company with respect to capital adequacy and
liquidity), then from time to time upon request of such Lender or Issuing Bank the Borrower will pay to such Lender or Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or Issuing Bank or such
Lender’s or Issuing Bank’s holding company for any such reduction suffered. 
 (c) A certificate of a Lender or Issuing Bank
setting forth in reasonable detail the amount or amounts necessary to compensate such Lender or Issuing Bank or its respective holding company, as the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered to the
Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender or Issuing Bank, as the case may be, the amount shown as due on any such certificate within 10 days after receipt thereof. 

(d) Failure or delay on the part of any Lender or Issuing Bank to demand compensation pursuant to this Section shall not constitute a waiver of
such Lender’s or Issuing Bank’s right to demand such -66- compensation; provided that the Borrower shall not be required to compensate a Lender or
Issuing Bank pursuant to this Section for any increased costs or reductions incurred more than 180 days prior to the date that such Lender or Issuing Bank, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased
costs or reductions and of such Lender’s or Issuing Bank’s intention to claim compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive (or has
retroactive effect), then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof. 

  
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 Section 2.15 Break Funding Payments. In the event of (a) the payment or
prepayment of any principal of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise), (b) the conversion of any Eurodollar Loan
other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any Eurodollar Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice
may be revoked under Section 2.10(b) and is revoked in accordance therewith), or (d) the assignment of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrower
pursuant to Section 2.18, then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense attributable to such event other than loss of profit or margin. In the case of a Eurodollar Loan, such loss, cost
or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Loan had such event not occurred, at the
Adjusted LIBO Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period
that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of such
period, for dollar deposits of a comparable amount and period from other banks in the eurodollar market. A certificate of any Lender setting forth in reasonable detail any amount or amounts that such Lender is entitled to receive pursuant to this
Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof. 

Section 2.16 Taxes. Any and all payments by or on account of any obligation of each applicable Loan Party hereunder shall be made
free and clear of and without deduction or withholding for any Taxes, except as required by law. If any applicable law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax
from any such payment by a Withholding Agent, then the applicable Withholding Agent shall be entitled to make such deduction or withholding and timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with
applicable law and, if such Tax is an Indemnified Tax, then the sum payable by each applicable Loan Party shall be increased as necessary so that after making such deduction or withholding (including such deductions and withholdings applicable to
additional sums payable under this Section) the Administrative Agent or Lender (as the case may be) receives an amount equal to the sum it would have received had no such deduction or withholding been made. 

(b) In addition, each applicable Loan Party shall (i) pay any Other Taxes to the relevant Governmental Authority in accordance with
applicable law or (ii) at the option of the Administrative Agent, shall timely reimburse the Administrative Agent for any payment of such Other Taxes. 

(c) Each applicable Loan Party shall indemnify the Administrative Agent and each Lender, within 10 days after demand therefor, for the full
amount of any Indemnified Taxes paid by the Administrative Agent or such Lender, as the case may be, on or with respect to any payment by or on account of any obligation of such Loan Party hereunder (including Indemnified Taxes imposed or asserted
on or attributable to amounts payable under this Section) and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the
relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender,
shall be conclusive absent manifest error. The Loan Parties shall not be required to pay any amount under this Section 2.16(c) with respect to Other Taxes paid or reimbursed by the Loan Parties pursuant to Section 2.16(b).

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

(ii) Any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender
becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of IRS Form W-9 certifying that such Lender
is exempt from U.S. federal backup withholding Tax. 
 (iii) Any Foreign Lender shall, to the extent it is legally entitled to do so,
deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable
request of the Borrower or the Administrative Agent), whichever of the following is applicable: 
 (A) in the case of a Foreign Lender
claiming the benefits of an income tax treaty to which the United States is a party, (x) with respect to payments of interest under this Agreement or any other Loan Document, executed originals of IRS Form
W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. Federal withholding Tax
pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under this Agreement or any other Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. Federal withholding Tax pursuant to the “business profits” or “other income”
article of such tax treaty; 
 (B) executed originals of IRS Form W-8ECI; 

(C) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code,
(x) a certificate substantially in the form of Exhibit 1-1 to the effect that such Foreign Lender is not (A) a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (B) a
“10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “Portfolio
Interest Certificate”) and (y) executed originals of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable; or 

  
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 (D) to the extent a Foreign Lender is not the beneficial owner, executed originals of IRS
Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or IRS Form W- 8BEN-E, as applicable, a Portfolio Interest Certificate substantially in the form of Exhibit 1-2 or Exhibit 1-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are
claiming the portfolio interest exemption, such Foreign Lender may provide a Portfolio Interest Certificate substantially in the form of Exhibit 1-4 on behalf of each such partner. 

(iv) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such
number of copies as shall be requested) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed
originals of any other form prescribed by applicable law as a basis for claiming exemption from, or a reduction in, U.S. Federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable law
to permit the Borrower or the Administrative Agent to determine withholding or deduction required to be made. 
 (v) If a payment made to a
Lender under this Agreement or any other Loan Document would be subject to withholding Tax imposed pursuant to FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in
Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the
Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such other documentation reasonably requested by the Borrower or the Administrative Agent as may be
necessary for the Administrative Agent and the Borrower to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold
from such payment. Solely for purposes of this Section 2.16(e)(v), “FATCA” shall include any amendments made to FATCA after the Effective Date. 

(vi) Each Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it
shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. 

(f) Each Lender shall severally indemnify the Administrative Agent, within 10 days after demand thereof, for (i) any Indemnified Taxes
attributable to such Lender (but only to the extent that any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan Parties to do so), (ii) any Taxes attributable to
such Lender’s failure to comply with the provisions of Section 10.4(c) relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in each case that are payable or paid by the
Administrative Agent in connection with this Agreement or any other Loan Document and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and
apply any and all amounts at any time owing to such Lender under this Agreement or any other Loan Document or otherwise payable by the Administrative Agent to such Lender from any other source against any amount due to the Administrative Agent under
this paragraph. 

  
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 (g) If any Lender or the Administrative Agent determines, in its sole discretion exercised
in good faith, that it has received a refund of any Taxes as to which it has been indemnified pursuant to this Section 2.16 (including by the payment of additional amounts pursuant to this Section 2.16), it shall pay to the
indemnifying party an amount equal to such refund (but only to the extent of indemnity payments made under this Section 2.16 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided,
however, that (w) any Lender or the Administrative Agent may determine, in its sole discretion exercised in good faith consistent with the policies of such Lender or the Administrative Agent, whether to seek a refund for any Taxes;
(x) any Taxes that are imposed on a Lender or the Administrative Agent as a result of a disallowance or reduction of any Tax refund with respect to which such Lender or the Administrative Agent has made a payment to the indemnifying party
pursuant to this Section shall be treated as an Indemnified Tax for which the indemnifying party is obligated to indemnify such Lender or the Administrative Agent pursuant to this Section; (y) nothing in this Section shall require the Lender or
the Administrative Agent to disclose any confidential information to a Loan Party or any other Lender (including its tax returns); and (z) neither any Lender nor the Administrative Agent shall be required to pay any amounts pursuant to this
Section for so long as a Default or Event of Default exists. 
 (h) For purposes of this Section 2.16, the term
“Lender” includes any Issuing Bank and the term “applicable law” includes FATCA. 
 (i) Each party’s obligations
under this Section 2.16 shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender, the
-70- termination of the Commitments and the repayment, satisfaction or discharge of all obligations under this Agreement and the other Loan Documents. 

Section 2.17 Payments Generally; Pro Rata Treatment; Sharing of Set-offs. (a) The
Borrower shall make each payment required to be made by it hereunder (whether of principal, interest or fees, or of amounts payable under Section 2.14, Section 2.15 or Section 2.16, or otherwise) prior to 12:00
noon, New York City time, on the date when due, in immediately available funds, without set off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on
the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to such account as may be specified by the Administrative Agent and except that payments pursuant to Section 2.14,
Section 2.15, Section 2.16 and Section 10.3 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to
the appropriate recipient promptly following receipt thereof. If any payment or performance hereunder shall be due on a day that is not a Business Day, the date for payment or performance shall be extended to the next succeeding Business Day, and,
in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All payments hereunder shall be made in dollars. 

(b) If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal,
unreimbursed drawings under Letters of Credit, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with
the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed drawings under Letters of Credit then due hereunder, ratably among the parties entitled thereto in accordance with the
amounts of principal and unreimbursed drawings under Letters of Credit then due to such parties. 

  
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 (c) If any Lender shall, by exercising any right of set off or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any of its Loans or participations in Swing Line Loans or drawings under Letters of Credit resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its
Loans and participations in Swing Line Loans or drawings under Letters of Credit and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value)
participations in the Loans and participations in Swing Line Loans or drawings under Letters of Credit of other Lenders to the extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the
aggregate amount of principal of and accrued interest on their respective Loans and participations in Swing Line Loans or drawings under Letters of Credit; provided that (i) if any such participations are purchased and all or any portion
of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply
to any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement (as in effect from time to time) (including the application of funds arising from the existence of a Defaulting Lender) or any payment
obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or participations in Swing Line Loans or drawings under Letters of Credit to any assignee or participant, other than to the Borrower or any
Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation
pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower
in the amount of such participation. 
 (d) Unless the Administrative Agent shall have received notice from the Borrower prior to the date on
which any payment is due to the Administrative Agent for the account of the Lenders or Issuing Banks hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in
accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or Issuing Banks, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders or Issuing
Banks, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or Issuing Bank with interest thereon, for each day from and including the date such amount is distributed
to it to but excluding the date of payment to the Administrative Agent, at the greater of the NYFRB Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 

(e) If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.3, Section 2.4(d),
Section 2.6(b) or paragraph (d) of this Section, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account
of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid. 

Section 2.18 Mitigation Obligations: Replacement of Lenders. (a) If any Lender (which term shall include any Issuing Bank for
purposes of this Section 2.18(a)) requests compensation under Section 2.14, or if any of the Loan Parties are required to pay any Indemnified Taxes, Other Taxes or additional amounts to any Lender or any Governmental
Authority for the account of any Lender pursuant to Section 2.16, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations
hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.14 or Section 2.16, as
the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by
any Lender in connection with any such designation or assignment. 

  
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 (b) If (i) any Lender (which term shall include any Issuing Bank for purposes of this
Section 2.18(b)) requests compensation under Section 2.14, (ii) any of the Loan Parties is required to pay any Indemnified Taxes, Other Taxes or additional amounts to any Lender or any Governmental Authority for the account
of any Lender pursuant to Section 2.16, (iii) any Lender is a Defaulting Lender or a Non-Consenting Lender or (iv) any Lender is a Declining Lender under Section 2.20, then the
Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in
Section 10.4), all its interests, rights and obligations under this Agreement and the other Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment);
provided that (i) the Borrower shall have received the prior written consent of the Administrative Agent, the Issuing Banks and Swing Line Lender, which consents shall not unreasonably be withheld, (ii) such Lender shall have
received payment of an amount equal to the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents, from the assignee (to the extent of such
outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts), (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.14 or payments required to be made
pursuant to Section 2.16, such assignment will result in a reduction in such compensation or payments, (iv) such assignment does not conflict with applicable law and (v) in the case of any assignment resulting from a Lender
becoming a Non-Consenting Lender, (x) the applicable assignee shall have consented to, or shall consent to, the applicable amendment, waiver or consent and (y) the Borrower exercises its rights
pursuant to this clause (b) with respect to all Non-Consenting Lenders relating to the applicable amendment, waiver or consent. A Lender shall not be required to make any such assignment or delegation if,
prior thereto, as a result of a waiver or consent by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation have ceased to apply. 

(c) Each party hereto agrees that an assignment and delegation required pursuant to this paragraph may be effected pursuant to an Assignment
and Assumption executed by the Borrower, the Administrative Agent and the assignee and that the Lender required to make such assignment and delegation need not be a party thereto in order for such assignment and delegation to be effective and shall
be deemed to have consented to and be bound by the terms thereof; provided that, following the effectiveness of any such assignment and delegation, the other parties to such assignment agree to execute and deliver such documents necessary to
evidence such assignment as reasonably requested by the applicable Lender; provided further that any such documents shall be without recourse to or warranty by the parties thereto. 

Section 2.19 Increase in the Aggregate Commitments. (a) The Borrower may, from time to time, (x) request that the
aggregate amount of the Commitments be increased by having an existing Lender agree in its sole discretion to increase its then existing Commitment (an “Increase Lender”) and/or by adding as a new Lender hereunder any Person (each
such Person, an “Assuming Lender”) approved by the Administrative Agent, each Issuing Bank and the Swing Line Lender (in each case, such approval not to be unreasonably withheld or delayed) that shall agree to provide an Commitment
hereunder or (y) the establishment of one or more new revolving credit commitments (each such new commitment, an “Incremental Revolving Commitment Tranche”) to be provided by one or more Increase Lenders and/or Assuming Lenders
(each such proposed increase pursuant to the foregoing clauses (x) and (y) being a “Commitment Increase”), in each case, by notice to the Administrative Agent specifying the amount of the relevant Commitment Increase, the
Increase Lender(s) and/or Assuming Lender(s) providing such Commitment Increase and the date on which such Commitment Increase is to be effective (the “Increase Date”), which shall be a Business Days at least three Business Days
after delivery of such notice and ten Business Days prior to the Commitment Termination Date; provided, however, that: 

  
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 (i) the minimum amount of each Commitment Increase shall be $10,000,000 or a larger
multiple of $5,000,000; 
 (ii) the aggregate amount of all Commitment Increases hereunder, together with the aggregate amount of all
Incremental Equivalent Debt incurred under Section 2.19(d), shall not exceed, at the time of incurrence thereof, the sum of (the amount available under clauses (x), (y) and (z) below, the “Available Incremental
Amount”): 
 (x) $170,000,000 (or, following the consummation of an IPO, the greater of (A) $170,000,000 and (B) 100% of
Consolidated Credit EBITDA for the most recently ended four fiscal quarter period for which financial statements have been delivered pursuant to Section 5.1(a) or (b) or Section 3.4(a) and calculated on a Pro
Forma Basis), plus 
 (y) the aggregate amount of any permanent optional reductions of Commitments, plus 

(z) an amount such that, after giving effect to the incurrence of such amount, the Total Net Leverage Ratio would not exceed 2.5 to 1.0 for
the most recently ended four fiscal quarter period for which financial statements have been delivered pursuant to Section 5.1(a) or (b) or Section 3.4(a) and calculated on a Pro Forma Basis (assuming the full
amount of such Commitment Increase has been drawn, but calculating the Total Net Leverage Ratio without netting the cash proceeds from such Revolving Loans, and without giving effect to any substantially simultaneous incurrence of Indebtedness made
pursuant to clause (x) of this Section 2.19(a)(ii) or clause (i) of Section 6.1(c)); 
 provided,
that the Borrower may elect to use clause (z) of the Available Incremental Amount prior to using clause (x) or (y) of the Available Incremental Amount, and if both clause (z) and clause (x) or (y) of the Available Incremental
Amount are available, unless otherwise elected by the Borrower, then the Borrower will be deemed to have elected to use clause (z) of the Available Incremental Amount first; 

(iii) immediately before and immediately after giving effect to any such Commitment Increase and the use of proceeds thereof (if any), the
Borrower shall be in compliance with the financial covenant set forth in Section 6.8 hereof on a Pro Forma Basis; 
 (iv) both
at the time of any such request and upon the effectiveness of any Commitment Increase, no Default or Event of Default shall have occurred and be continuing or would result from such proposed Commitment Increase (provided that, with respect to
any Incremental Revolving Commitment Tranche the primary purpose of which is to finance a Limited Condition Transaction, the requirement pursuant to this Section 2.19(a)(iv) shall be that no Event of Default under clauses (a) or (b)
of Article VIII or, solely with respect to the Borrower, clauses (h) or (i) of Article VIII, shall exist after giving effect to such Incremental Revolving Commitment Tranche); 

  
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 (v) the representations and warranties set forth in Article III and in the other
Loan Documents shall be true and correct in all material respects (without duplication of any materiality qualifier contained therein) immediately prior to, and after giving effect to, such Commitment Increase as if made on and as of such date (or,
if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date (provided that, with respect to any Incremental Revolving Commitment Tranche the primary purpose of which is to
finance a Limited Condition Transaction, the requirement contained in this Section 2.19(a)(v) shall only be required with respect to customary “Sungard” representations and warranties (with such representations and warranties
to be reasonably determined by the Lenders providing such Incremental Revolving Commitment Tranche))); 
 (vi) any Commitment Increase shall
rank pari passu in right of payment with the existing Commitments; 
 (vii) no Commitment Increase consisting of an Incremental Revolving
Commitment Tranche will have (i) a final maturity earlier than the latest Maturity Date then in effect (as determined as of the applicable Increase Date) or (ii) a weighted average life to maturity that is shorter than the weighted average
life to maturity of the Commitments then in effect; and 
 (viii) (i) any Commitment Increase (other than an Incremental Revolving
Commitment Tranche) shall be on terms that are identical to the existing Commitments, or (ii) subject to clauses (vi) and (vii) above, any Commitment Increase consisting of an Incremental Revolving Commitment Tranche shall be on terms that
are identical to the existing Commitments, other than those terms relating to pricing (including interest rates or rate floors), fees and maturity date (provided that such Incremental Revolving Commitment Tranche shall not mature earlier than
the Maturity Date) and other than (x) as set forth in this Section 2.19, (y) such terms as are reasonably satisfactory to the Administrative Agent, the Borrower, the Increase Lenders and/or the Assuming Lenders, as applicable, with
respect to such Incremental Revolving Commitment Tranche and (z) any other terms, including provisions for security (provided that any such terms shall also be for the benefit of all other Lenders in respect of all Loans and Commitments
outstanding at the time that the applicable Commitment Increase becomes effective); 
 Each notice by the Borrower under this paragraph shall be deemed to
constitute a representation and warranty by the Borrower as to the matters specified in clauses (iv) and (v) above. Notwithstanding anything herein to the contrary, no Lender shall have any obligation hereunder to become an Increase Lender and any
election to do so shall be in the sole discretion of each Lender. 
 (b) Each Commitment Increase (and the increase of the Commitment of each
Increase Lender and/or the new Commitment of each Assuming Lender, as applicable, resulting therefrom) shall become effective as of the relevant Increase Date upon receipt by the Administrative Agent, on or prior to 12:00 noon, New York City time,
on such Increase Date, of (i) a certificate of a duly authorized officer of the Borrower stating that the conditions with respect to such Commitment Increase under this Section 2.19 have been satisfied and (ii) an agreement (a
“Commitment Increase Supplement”), in form and substance reasonably satisfactory to the Borrower, each Increase Lender, each Assuming Lender and the Administrative Agent, pursuant to which, effective as of such Increase Date, as
applicable, the Commitment of each such Increase Lender shall be increased or each such Assuming Lender shall undertake a Commitment, in each case duly executed by such Increase Lender or Assuming Lender, as the case may be, and the Borrower and
acknowledged by the Administrative Agent. Upon the Administrative Agent’s receipt of a fully executed Commitment Increase Supplement from each Increase Lender and/or Assuming Lender referred to in clause (ii) above, together with the
certificates referred to in clause (i) above, the Administrative Agent shall record the information contained in each such agreement in the Register and give prompt notice of the relevant Commitment Increase to the Borrower and the Lenders
(including, if applicable, each Assuming Lender). At the election of the Administrative Agent in its sole discretion, any Loans outstanding on such Increase Date shall be reallocated among the Lenders (with Lenders making any required payments to
each other) to the extent necessary to keep the outstanding Loans ratable with any revised pro rata shares of such Lenders arising from any nonratable increase in the Commitments under this Section 2.19. Upon each such Commitment
Increase, the participation interests of the Lenders in the then outstanding Letters of Credit shall automatically be adjusted to reflect, and each Lender (including, if applicable, each Assuming Lender) shall have a participation in each such
Letter of Credit equal to, the Lenders’ respective Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit after giving effect to such increase. 

  
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 (c) This Section shall supersede any provisions in Section 2.17 or
Section 10.2 to the contrary. 
 (d) The Borrower may utilize the Available Incremental Amount in respect of one or more series
of senior secured or unsecured notes, term loans or Permitted Convertible Indebtedness, issued in a public offering, Rule 144A or other private placement or loan origination pursuant to an indenture, credit agreement or otherwise, in an aggregate
amount not to exceed, together with the aggregate amount of all Commitment Increases, the Available Incremental Amount (“Incremental Equivalent Debt”): provided that such Incremental Equivalent Debt (i) does not mature
earlier than the Maturity Date (as determined as of the date of incurrence of such Incremental Equivalent Debt), or have a shorter weighted average life to maturity than the weighted average life to maturity of the Commitments outstanding at such
time, (ii) has terms and conditions (other than pricing (including interest rates, rate floors or original issue discount) and fees and, solely with respect to any term loans, amortization, prepayment premiums, and as otherwise explicitly set
forth in this Agreement) no more restrictive than those under the credit facilities provided for herein (except for covenants or other provisions, which are provided to the existing Lenders or are applicable only to periods after the Maturity Date
(as determined in good faith by the Borrower as of the date of incurrence of such Incremental Equivalent Debt)), (iii) to the extent guaranteed, shall not be guaranteed by any Person other than the Loan Parties and (iv) after giving effect to
any such Incremental Equivalent Debt and the use of proceeds thereof, the Borrower shall be in compliance with the financial covenant set forth in Section 6.8 on a Pro Forma Basis. The Borrower may utilize the Available Incremental
Amount in respect of one or more series of senior secured first lien notes, term loans or Permitted Convertible Indebtedness or senior secured junior lien notes or term loans, issued in a public offering, Rule 144A or other private placement or loan
origination pursuant to an indenture, credit agreement or otherwise, so long as the conditions set forth in the previous sentence are satisfied and (i) such notes or term loans are not secured by any asset that does not also secure the Secured
Obligations and (ii) if such notes or term loans are secured by the Collateral on a pari passu or junior basis with the Liens securing the Secured Obligations, such notes or term loans shall be subject to customary intercreditor arrangements
reasonably satisfactory to the Borrower and the Administrative Agent. 

  
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 Section 2.20 Extension of Maturity Date. (a) The Borrower may, by delivery
of a Maturity Date Extension Request to the Administrative Agent (which shall promptly deliver a copy thereof to each of the Lenders and the Issuing Banks) not less than 30 days prior to the then existing maturity date for Commitments of any
Class hereunder (the “Existing Maturity Date”), request that the applicable Lenders and the Issuing Banks extend the Existing Maturity Date in accordance with this Section; provided that the Borrower may not make more
than two Maturity Date Extension Requests during the term of this Agreement. Each Maturity Date Extension Request shall (i) specify the Class of Commitments and the date to which the Maturity Date is sought to be extended; provided
that such date is no more than one calendar year from the then-scheduled Maturity Date, (ii) specify the changes, if any, to the Applicable Rate to be applied in determining the interest payable on Loans of, and fees payable hereunder to,
Consenting Lenders (as defined below) in respect of that portion of their Commitments (and related Loans) of the applicable Class extended to such new Maturity Date and the time as of which such changes will become effective (which may be prior
to the Existing Maturity Date), and (iii) specify any other amendments or modifications to this Agreement to be effected in connection with such Maturity Date Extension Request; provided that no such changes or modifications requiring
approvals pursuant to Section 10.2(b) shall become effective prior to the then existing Maturity Date unless such other approvals have been obtained. In the event a Maturity Date Extension Request shall have been delivered by the
Borrower, each Lender of the applicable Class shall have the right to agree or not agree to the extension of the Existing Maturity Date and other matters contemplated thereby on the terms and subject to the conditions set forth therein (each
Lender agreeing to the Maturity Date Extension Request being referred to herein as a “Consenting Lender” and each Lender not agreeing thereto being referred to herein as a “Declining Lender”), which right may be
exercised by written notice thereof, specifying the maximum amount of its Commitment and, if such Lender (or a designated Affiliate of such Lender) is then serving as an Issuing Bank, its (or its designated Affiliate’s) Issuing Bank Sublimit,
with respect to which such Lender agrees to the extension of the Maturity Date, delivered to the Borrower (with a copy to the Administrative Agent) not later than a day to be agreed upon by the Borrower and the Administrative Agent following the
date on which the Maturity Date Extension Request shall have been delivered by the Borrower (it being understood (x) that any Lender that shall have failed to exercise such right as set forth above shall be deemed to be a Declining Lender and
(y) that, in the case of any Lender then serving (or whose designated Affiliate is then serving) as an Issuing Bank, (I) the Issuing Bank Sublimit of such Lender (or such designated Affiliate) shall not be extended in connection with an
extension of such Lender’s Commitments unless so specified by such Lender (or such designated Affiliate), in its capacity as Issuing Bank, in such written notice to the Borrower and (II) for purposes of Section 2.4(a), the
“Maturity Date” applicable to Letters of Credit of an Issuing Bank that has not extended its Issuing Bank Sublimit will be the Maturity Date in respect of such Letter of Credit Sublimit that has not been extended). If a Lender
elects to extend only a portion of its then existing Commitment, it will be deemed for purposes hereof to be a Consenting Lender in respect of such extended portion and a Declining Lender in respect of the remaining portion of its Commitment. If
Consenting Lenders shall have agreed to such Maturity Date Extension Request in respect of Commitments held by them, then, subject to paragraph (d) of this Section, on the date specified in the Maturity Date Extension Request as the effective
date thereof (the “Extension Effective Date”), (i) the Existing Maturity Date of the applicable Commitments shall, as to the Consenting Lenders, be extended to such date as shall be specified therein, (ii) the terms and
conditions of the Commitments of the Consenting Lenders (including interest and fees payable in respect thereof), shall be modified as set forth in the Maturity Date Extension Request, (iii) such other modifications and amendments hereto
specified in the Maturity Date Extension Request shall (subject to any required approvals (including those of the Required Lenders) having been obtained, except that any such other modifications and amendments that do not take effect until the
Existing Maturity Date shall not require the consent of any Lender other than the Consenting Lenders) become effective and (iv) in the case of any Consenting Lender then serving (or whose designated Affiliate is then serving) as an Issuing Bank
that shall not have agreed to extend the Existing Maturity Date with respect to its Issuing Bank Sublimit, or shall have agreed to extend the Existing Maturity Date with respect to less than the entire amount of its Issuing Bank Sublimit, such
Issuing Bank shall not have the obligation to issue, amend, extend or increase Letters of Credit following the Extension Effective Date, if after giving effect to any such issuance, amendment, extension or increase, the Letter of Credit Usage
attributable to Letters of Credit issued by such Issuing Bank that have a stated expiration date after the date that is five days prior to the Existing Maturity Date with respect to the non-extended portion of
its Issuing Bank Sublimit would exceed the extended portion (if any) of such Issuing Bank Sublimit. 

  
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 (b) Notwithstanding the foregoing, the Borrower shall have the right, in accordance with the
provisions of Sections 2.18 and Article IX, at any time prior to the Existing Maturity Date, to replace a Declining Lender (for the avoidance of doubt, only in respect of that portion of such Lender’s Commitments subject to a
Maturity Date Extension Request that it has not agreed to extend) with a Lender or other financial institution that will agree to such Maturity Date Extension Request, and any such replacement Lender shall for all purposes constitute a Consenting
Lender in respect of the Commitment assigned to and assumed by it on and after the effective time of such replacement. 
 (c) If a Maturity
Date Extension Request has become effective hereunder, on the Existing Maturity Date, the Commitment of each Declining Lender shall, to the extent not assumed, assigned or transferred as provided in paragraph (b) of this Section, terminate, and
the Borrower shall repay all the Loans of each Declining Lender, to the extent such Loans shall not have been so purchased, assigned and transferred, in each case together with accrued and unpaid interest and all fees and other amounts owing to such
Declining Lender hereunder (accordingly, the Commitment of any Consenting Lender shall, to the extent the amount of such Commitment exceeds the amount set forth in the notice delivered by such Lender pursuant to paragraph (a) of this Section
and to the extent not assumed, assigned or transferred as provided in paragraph (b) of this Section, be permanently reduced by the amount of such excess, and, to the extent not assumed, assigned or transferred as provided in paragraph
(b) of this Section, the Borrower shall prepay the proportionate part of the outstanding Loans of such Consenting Lender, in each case together with accrued and unpaid interest thereon to but excluding the Existing Maturity Date and all fees
and other amounts payable in respect thereof on or prior to the Existing Maturity Date), it being understood that such repayments may be funded with the proceeds of new Borrowings made simultaneously with such repayments by the Consenting Lenders,
which such Borrowings shall be made ratably by the Consenting Lenders in accordance with their extended Commitments. 
 (d) Notwithstanding
the foregoing, no Maturity Date Extension Request shall become effective hereunder unless, on the Extension Effective Date, the conditions set forth in Section 4.2 (other than Section 4.2(a)) shall be satisfied (with all
references in such Section to a Borrowing being deemed to be references to such Maturity Date Extension Request) and the Administrative Agent shall have received a certificate to that effect dated such date and executed by a Financial Officer of the
Borrower. 
 (e) Notwithstanding any provision of this Agreement to the contrary, it is hereby agreed that no extension of an Existing
Maturity Date in accordance with the express terms of this Section, or any amendment or modification of the terms and conditions of the Commitments and Loans of the Consenting Lenders effected pursuant thereto, shall be deemed to (i) violate
the last sentence of Section 2.8(c) or Section 2.17(c) or any other provision of this Agreement requiring the ratable reduction of Commitments or the ratable sharing of payments or (ii) require the consent of all Lenders
or all affected Lenders under Section 10.2(b). 
 (f) The Borrower, the Administrative Agent and the Consenting Lenders may enter
into an amendment to this Agreement to effect such modifications as may be necessary to reflect the terms of any Maturity Date Extension Request that has become effective in accordance with the provisions of this Section. 

Section 2.21 Defaulting Lenders. (a) Notwithstanding anything to the contrary contained in this Agreement, if any Lender
becomes a Defaulting Lender, then, until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 

(i) such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be
restricted as set forth in the definition of Required Lenders and in Section 10.2; 

  
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 (ii) if any Swing Line Exposure or Letter of Credit Usage exists at the time such Lender
becomes a Defaulting Lender then: 
 (A) all or any part of the Swing Line Exposure and Letter of Credit Usage of such Defaulting Lender
shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Applicable Percentages but only to the extent that (x) the sum of all
Non-Defaulting Lenders’ Revolving Exposures plus such Defaulting Lender’s Swing Line Exposure and Letter of Credit Usage does not exceed the total of all
Non-Defaulting Lenders’ Commitments, (y) the sum of any Non-Defaulting Lender’s Revolving Exposure plus its Pro Rata Share of such Defaulting
Lender’s Swing Line Exposure and Letter of Credit Usage does not exceed such Non-Defaulting Lender’s Commitment and (z) the conditions set forth in Section 4.2 are satisfied at such
time; 
 (B) if the reallocation described in clause (A) above cannot, or can only partially, be effected, the Borrower shall within
one Business Day following notice by the Administrative Agent (x) first, prepay such Swing Line Exposure and (y) second, cash collateralize for the benefit of the applicable Issuing Banks only the Borrower’s obligations corresponding
to such Defaulting Lender’s Letter of Credit Usage (after giving effect to any partial reallocation pursuant to clause (A) above) in accordance with the procedures set forth in Section 2.4(j) for so long as such Letter of
Credit Usage is outstanding; 
 (C) if the Borrower cash collateralizes any portion of such Defaulting Lender’s Letter of Credit Usage
pursuant to clause (B) above, the Borrower shall not be required to pay any fees to such Defaulting Lender pursuant to Section 2.11(b) with respect to such Defaulting Lender’s Letter of Credit Usage during the period such
Defaulting Lender’s Letter of Credit Usage is cash collateralized; 
 (D) if the Letter of Credit Usage of the Non-Defaulting Lenders is reallocated pursuant to clause (A) above, then the fees payable to the Lenders pursuant to Section 2.11(a) and Section 2.11(b) shall be adjusted in accordance
with such Non-Defaulting Lenders’ Applicable Percentages; and 
 (E) if all or any portion of
such Defaulting Lender’s Letter of Credit Usage is neither reallocated nor cash collateralized pursuant to clause (A) or (B) above, then, without prejudice to any rights or remedies of any Issuing Bank or any other Lender hereunder, all
letter of credit fees payable under Section 2.11(b) with respect to such Defaulting Lender’s Letter of Credit Usage shall be payable to the Issuing Banks (and allocated among them ratably based on the amount of such Defaulting
Lender’s Letter of Credit Usage attributable to Letters of Credit issued by each Issuing Bank) until and to the extent that such Letter of Credit Usage is reallocated and/or cash collateralized in accordance with the procedures set forth in
Section 2.4(j); 
 (iii) so long as such Lender is a Defaulting Lender, the Swing Line Lender shall not be required to fund any
Swing Line Loan and no Issuing Bank shall be required to issue, amend, extend or increase any Letter of Credit, unless it is satisfied that the related exposure and the Defaulting Lender’s then outstanding Swing Line Exposure or Letter of
Credit Usage will be 100% covered by the Commitments of the Non-Defaulting Lenders and/or cash collateral will be provided by Borrower in accordance with Section 2.21(a)(ii), and participating
interests in any newly made Swing Line Loan or any newly issued, amended, extended or increased Letter of Credit shall be allocated among Non-Defaulting Lenders in a manner consistent with
Section 2.21(a)(ii)(A) (and such Defaulting Lender shall not participate therein); 

  
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 (iv) any payment of principal, interest, fees or other amounts received by the
Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to
Section 10.8 shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second, to the
payment on a pro rata basis of any amounts owing by such Defaulting Lender to each Issuing Bank or the Swing Line Lender hereunder; third, to cash collateralize each Issuing Bank’s Letter of Credit Usage with respect to such Defaulting Lender
in accordance with Section 2.4(j); fourth, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as
required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released
pro rata in order to (x) satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement and (y) cash collateralize each Issuing Bank’s future Letter of Credit Usage with respect
to such Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in accordance with Section 2.4(j); sixth, to the payment of any amounts owing to the Lenders, the Issuing Banks or Swing Line Lender as a
result of any judgment of a court of competent jurisdiction obtained by any Lender, any Issuing Bank or Swing Line Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement;
seventh, so long as no Default or Event of Default exists, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of
such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the
principal amount of any Loans or Letters of Credit disbursements in respect of which such Defaulting Lender has not fully funded its appropriate share, and (y) such Loans or Letters of Credit were made when the conditions set forth in
Section 4.2 were satisfied or waived, such payment shall be applied solely to pay the Loans of or Letters of Credit disbursements owed to all Non-Defaulting Lenders on a pro rata basis prior to
being applied to the payment of any Loans of such Defaulting Lender until such time as all Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans are held by the Lenders pro rata in accordance with the Commitments
(without giving effect to Section 2.21(a)(ii)(A)). Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post cash collateral
pursuant to this Section shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto; and 

(v) No Defaulting Lender shall be entitled to receive any commitment fee pursuant to Section 2.11 for any period during which that
Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender). 

(b) If (i) any Lender becomes a Defaulting Lender, the Swing Line Lender shall not be required to fund any Swing Line Loan and such
Issuing Bank shall not be required to issue, amend, extend or increase any Letter of Credit, unless the Swing Line Lender or such Issuing Bank, as the case may be, shall have entered into arrangements with the Borrower or such Lender, reasonably
satisfactory to the Swing Line Lender or such Issuing Bank, as the case may be, to defease any risk to it in respect of such Lender hereunder. 

  
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 (c) If the Borrower, Swing Line Lender, each Issuing Bank and the Administrative Agent each
agree in writing that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any -80- conditions set forth therein, that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders (other than Swing Line Loans) or take such other actions
as the Administrative Agent may determine to be necessary to cause the Loans to be held on a pro rata basis by the Lenders in accordance with their respective Applicable Percentages, whereupon such Lender will cease to be a Defaulting Lender;
provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and provided, further, that except to the extent
otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 

ARTICLE III 
 REPRESENTATIONS
AND WARRANTIES 
 Each Loan Party represents and warrants to the Lenders that: 

Section 3.1 Organization; Powers. Each of the Borrower and its Restricted Subsidiaries is duly organized, validly existing and (to
the extent the concept is applicable in such jurisdiction) in good standing under the laws of the jurisdiction of its organization, has all requisite power and authority to carry on its business as now conducted and is qualified to do business in,
and is in good standing in, every jurisdiction where such qualification is required, in each case (other than with respect to the due organization of, valid existence of, and good standing under the laws of the jurisdiction of its organization of
the Borrower), except where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect. 

Section 3.2 Authorization; Enforceability. The Transactions are within each Loan Party’s corporate or other organizational
powers and have been duly authorized by all necessary corporate or other organizational and, if required, equity holder action. Each Loan Party has duly executed and delivered each of the Loan Documents to which it is party, and each of such Loan
Documents constitutes its legal, valid and binding obligations, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject
to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 
 Section 3.3 Governmental
Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except (i) such as have been obtained or made and are in full
force and effect and (ii) those approvals, consents, registrations, filings or other actions, the failure of which to obtain or make has not had and would not reasonably be expected to have a Material Adverse Effect, (b) except as has not
had and would not reasonably be expected to have a Material Adverse Effect, will not violate any applicable law or regulation or any order of any Governmental Authority, (c) will not violate any charter,
by-laws or other organizational document of the Borrower or any of its Restricted Subsidiaries, (d) except as has not had and would not reasonably be expected to have a Material Adverse Effect, will not
violate or result in a default under any indenture, agreement or other instrument (other than the agreements and instruments referred to in clause (c)) binding upon the Borrower or any of its Restricted Subsidiaries or its assets, or give rise to a
right thereunder to require any payment to be made by the Borrower or any of its Restricted Subsidiaries, and (e) will not result in the creation or imposition of any Lien on any asset of the Borrower or any of its Restricted Subsidiaries other
than the creation or imposition of any Lien pursuant to the Security Documents. 

  
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 Section 3.4 Financial Condition; No Material Adverse Change. (a) The
Borrower has heretofore furnished to the Administrative Agent its consolidated balance sheet and statements of operations, stockholders equity and cash flows (i) as of and for the fiscal years ended December 31, 2020 and December 31,
2019, reported on by Ernst & Young LLP, independent public accountants and (ii) as of and for the fiscal quarter ended March 31, 2021. Such financial statements present fairly, in all material respects, the financial position and
results of operations and cash flows of the Borrower and its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end audit adjustments and the absence of
footnotes in the case of the unaudited financial statements referred to in clause (ii) above. 
 (b) Since December 31, 2020, no
event, development or circumstance exists or has occurred that, individually or in the aggregate, has had or would reasonably be expected to have a Material Adverse Effect. 

Section 3.5 Properties. (a) Each of the Borrower and its Restricted Subsidiaries has good title to, or valid leasehold
interests in or rights to use, all its real and personal property material to its business, except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties for
their intended purposes. Except as permitted by this Agreement, all such properties and assets are free and clear of Liens, other than (i) Permitted Encumbrances, (ii) Liens arising by operation of law, (iii) Liens permitted by
Section 6.2 and (iv) minor defects in title that do not materially interfere with the ability of the Borrower and its Restricted Subsidiaries to conduct their businesses. 

(b) Each of the Borrower and its Restricted Subsidiaries owns, or is licensed to use, all material Intellectual Property used in and necessary
to operate its business as currently conducted, and the use thereof by the Borrower and its Restricted Subsidiaries does not infringe upon, the rights of any other Person, except for any such infringements, that, individually or in the aggregate,
have not resulted and would not reasonably be expected to result in a Material Adverse Effect. 
 Section 3.6 Litigation and
Environmental Matters. (a) There are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge of the Borrower, threatened in writing against or affecting the Borrower or any
of its Restricted Subsidiaries (i) that have resulted and would reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect (other than the Disclosed Matters) or (ii) that involve this Agreement, any
other Loan Document or the Transactions. Neither the Borrower nor any of its Restricted Subsidiaries is subject to or in default with respect to any final judgments, writs, injunctions, decrees, rules or regulations of any court or any federal,
state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, that, individually or in the aggregate, have resulted and would reasonably be expected to result in a Material Adverse
Effect. 
 (b) Except for the Disclosed Matters and except with respect to any other matters that, individually or in the aggregate, have not
resulted and would not reasonably be expected to result in a Material Adverse Effect, neither the Borrower nor any of its Restricted Subsidiaries (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any
permit, license or other approval -82- required under any Environmental Law, (ii) has become subject to any Environmental Liability, or (iii) has received
notice of any claim with respect to any Environmental Liability. 
 Section 3.7 Compliance with Laws and Agreements. Each of the
Borrower and its Restricted Subsidiaries is in compliance with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its property and all indentures, agreements and other instruments binding upon it or its
property, except where the failure to do so, individually or in the aggregate, have not resulted and would not reasonably be expected to result in a Material Adverse Effect. No Event of Default has occurred and is continuing. 

  
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 Section 3.8 Investment Company Status. None of the Borrower or any Guarantor is
or is required to be registered as an “investment company” under the Investment Company Act of 1940. 
 Section 3.9
Taxes. Except as has not resulted and would not reasonably be expected to result in a Material Adverse Effect and except as set forth in Schedule 3.9 to the Disclosure Letter, (i) each of the Borrower and its Restricted
Subsidiaries has timely filed or caused to be filed all Tax returns and reports required to have been filed with respect to income, properties or operations of the Borrower and its Restricted Subsidiaries, (ii) such Tax returns accurately
reflect all liability for Taxes of the Borrower and its Restricted Subsidiaries as a whole for the periods covered thereby and (iii) each of the Borrower and each of its Restricted Subsidiaries has timely paid or caused to be timely paid all
Taxes required to have been paid by it (regardless of whether such Taxes are reflected on any Tax returns), except Taxes that are being contested in good faith by appropriate proceedings and, to the extent required by GAAP, for which the Borrower or
such Restricted Subsidiary, as applicable, has set aside on its books adequate reserves in accordance with GAAP. 
 Section 3.10
ERISA. (a) Each Plan is in compliance in form and operation with its terms and with ERISA and the Code (including the Code provisions compliance with which is necessary for any intended favorable tax treatment) and all other applicable
laws and regulations, except where any failure to comply, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect. Each Plan (and each related trust, if any) which is intended to be qualified under
Section 401(a) of the Code has received a favorable determination letter from the IRS to the effect that it meets the requirements of Sections 401(a) and 501(a) of the Code covering all applicable tax law changes or is comprised of a master or
prototype plan that has received a favorable opinion letter from the IRS, and to the knowledge of the Borrower or any Loan Party nothing has occurred since the date of such determination that would adversely affect such determination (or, in the
case of a Plan with no determination, nothing has occurred that would materially adversely affect the issuance of a favorable determination letter or otherwise materially adversely affect such qualification), other than, in each case, as would not,
individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. No ERISA Event has occurred, or is reasonably expected to occur, other than as would not reasonably be expected to result in a Material Adverse Effect.

 (b) There exists no material Unfunded Pension Liability with respect to any Plan, except as would not reasonably be expected to result in
a Material Adverse Effect. 
 (c) No Loan Party or any ERISA Affiliate is making or accruing an obligation to make contributions, or has
within any of the five calendar years immediately preceding the date this assurance is given or deemed given, made or accrued an obligation to make contributions to any Multiemployer Plan, other than as would not reasonably be expected to result in
a Material Adverse Effect. 
 (d) There are no actions, suits or claims pending against or involving a Plan (other than routine claims for
benefits) or, to the knowledge of the Borrower or any Loan Party, threatened, which have resulted or would reasonably be expected either singly or in the aggregate to result in a Material Adverse Effect. 

(e) Each Loan Party and each ERISA Affiliate have made all contributions to or under each Plan and Multiemployer Plan required by law within
the applicable time limits prescribed thereby, the terms of such Plan or Multiemployer Plan, respectively, or any contract or agreement requiring contributions to a Plan or Multiemployer Plan save where any failure to comply, individually or in the
aggregate, has not resulted and would not reasonably be expected to result in a Material Adverse Effect. 

  
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 (f) No Plan which is subject to Section 412 of the Code or Section 302 of ERISA
has applied for or received an extension of any amortization period, within the meaning of Section 412 of the Code or Section 302 or 304 of ERISA other than where such extension would not reasonably be expected to result in a Material
Adverse Effect. No Loan Party or 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 Plan subject to Section 4064(a) of ERISA to which it made contributions, other than as would not reasonably be expected to result in a Material Adverse Effect. No Loan Party or
any ERISA Affiliate have incurred or reasonably expect to incur any liability to PBGC except as has not resulted in and would not reasonably be expected to result in a Material Adverse Effect, and no Lien imposed under the Code or ERISA on the
assets of any Loan Party or any ERISA Affiliate exists or, to the knowledge of the Borrower, is likely to arise on account of any Plan other than as would not reasonably be expected to result in a Material Adverse Effect. None of the Loan Parties or
any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or 4212(c) of ERISA, other than as would not reasonably be expected to result in a Material Adverse Effect. 

(g) Each Non-U.S. Plan has been maintained in compliance with its terms and with the requirements of
any and all applicable laws, statutes, rules, regulations and orders and has been maintained, where required, in good standing with applicable regulatory authorities, except as has not resulted in and would not reasonably be expected to result in a
Material Adverse Effect. All contributions required to be made with respect to a Non-U.S. Plan have been timely made, except as has not resulted in and would not reasonably be expected to result in a Material
Adverse Effect. Neither the Borrower nor any of its Restricted Subsidiaries has incurred any material obligation in connection with the termination of, or withdrawal from, any Non-U.S. Plan, other than as
would not reasonably be expected to result in a Material Adverse Effect. The present value of the accrued benefit liabilities (whether or not vested) under each Non-U.S. Plan, determined as of the end of the Non-U.S. Plan’s most recently ended fiscal year on the basis of actuarial assumptions, each of which is reasonable, did not exceed the current value of the assets of such
Non-U.S. Plan allocable to such benefit liabilities, except as would not reasonably be expected to result in a Material Adverse Effect. 

Section 3.11 Disclosure. (a) All written information of a factual nature concerning the Borrower and its Restricted
Subsidiaries (other than any projected financial information, other forward-looking information and other than information of a general economic or industry specific nature) furnished by or on behalf of the Borrower to the Administrative Agent or
any Lender in connection with the negotiation of this Agreement or delivered hereunder (as modified or supplemented by other information so furnished or delivered and when taken as a whole), when furnished, modified or supplemented, does not contain
any material misstatement of fact or omit to state any material fact necessary to make the statements therein, in light of the circumstances under which they were made, not materially misleading; provided that, with respect to any projected
financial information, the Borrower represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time furnished (it being understood that such projected financial information is subject to
significant uncertainties and contingencies, many of which are beyond the Borrower’s control, that no assurance can be given that any particular projections will be realized and that actual results during the period or periods covered by any
such projected financial information may differ significantly from the projected results and such differences may be material). 
 (b) As of
the Effective Date, to the knowledge of the Borrower, the information included in the Beneficial Ownership Certification provided on or prior to the Effective Date to any Lender in connection with this Agreement is true and correct in all material
respects. 

  
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 Section 3.12 Subsidiaries. Schedule 3.12 to the Disclosure Letter sets
forth as of the Effective Date a list of all Restricted Subsidiaries (identifying all Restricted Subsidiaries, including Immaterial Subsidiaries) and the percentage ownership (directly or indirectly) of the Borrower therein. Except as has not
resulted and would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, the Equity Interests of all Restricted Subsidiaries are fully paid and non-assessable
and are owned by the Borrower (other than minority interests held by other Persons that do not violate any provision of this Agreement), directly or indirectly, free and clear of all Liens, other than Liens permitted under Section 6.2.

 Section 3.13 Anti-Terrorism Laws; USA Patriot Act. To the extent applicable, the Borrower and each Subsidiary is in
compliance, in all material respects, with (i) the Trading with the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department (31 C.F.R., Subtitle B, Chapter V, as amended) and any other
enabling legislation or executive order relating thereto, and (ii) the USA Patriot Act. 
 Section 3.14 Anti-Corruption Laws
and Sanctions. The Borrower has implemented and maintains in effect policies and procedures designed to promote compliance by the Loan Parties and their respective Subsidiaries and their respective directors, officers, employees and agents with
Anti-Corruption Laws and applicable Sanctions, and each Loan Party, its Subsidiaries and its and their respective directors and officers and, to the knowledge of the Borrower, its and their respective employees, are in compliance with
Anti-Corruption Laws and applicable Sanctions in all material respects. None of (i) the Borrower, any Subsidiary or any of its or their respective directors or officers, or (ii) to the knowledge of the Borrower, any employee of the
Borrower or any Subsidiary that will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person. 

Section 3.15 Margin Stock. (a) None of the Borrower or any of its Restricted Subsidiaries is engaged 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) No part of the proceeds of any Loan will be used to purchase or carry any Margin Stock or to extend credit for the purposes of purchasing
or carrying Margin Stock in violation of the provisions of the regulations of the Board, including Regulation T, U or X. 

Section 3.16 Solvency. As of the Effective Date, the Borrower is, individually and together with its Restricted Subsidiaries, and
after giving effect to the incurrence of all Indebtedness and obligations being incurred in connection herewith (assuming for this purpose that the full amount of the Commitments is drawn on the Effective Date) will be, Solvent. 

Section 3.17 Affected Financial Institution. No Loan Party is an Affected Financial Institution. 

Section 3.18 Collateral Matters. 

(a) The Collateral Agreement, upon execution and delivery thereof by the parties thereto, will create in favor of the Administrative Agent, for
the benefit of the Secured Parties, a valid and enforceable security interest in the Collateral (as defined therein) and (i) when the Collateral (as defined therein) constituting certificated securities (as defined in the Uniform Commercial
Code) is delivered to the Administrative Agent, together with instruments of transfer duly endorsed in blank (in accordance with, and to the extent required by, the Collateral Agreement), the security interest created under the Collateral Agreement
will constitute a fully perfected security interest in all right, title and interest of the pledgors thereunder in such Collateral, prior and superior in right to any other Person, and (ii) when financing statements in appropriate form are
filed in the applicable filing offices (in accordance with, and to the extent required by, the Collateral Agreement), the security interest created under the Collateral Agreement will constitute a fully perfected security interest in all right,
title and interest of the Loan Parties in the remaining Collateral (as defined therein) to the extent perfection can be obtained by filing Uniform Commercial Code financing statements, except for rights secured by Liens permitted under
Section 6.2. 

  
 -80- 

 (b) Upon the recordation of the Collateral Agreement (or a short-form security agreement in
form and substance reasonably satisfactory to the Borrower and the Administrative Agent) with the United States Patent and Trademark Office or the United States Copyright Office, as applicable, and the filing of the financing statements referred to
in paragraph (a) of this Section 3.18 (in accordance with, and to the extent required by, the Collateral Agreement), the security interest created under the Collateral Agreement will constitute a fully perfected security interest in
all right, title and interest of the Loan Parties in the Intellectual Property (as defined in the Collateral Agreement) in which a security interest may be perfected by filing in the United States, except for rights secured by Liens permitted under
Section 6.2 (it being understood and agreed that subsequent recordings in the United States Patent and Trademark Office or the United States Copyright Office may be necessary to perfect a security interest in such Intellectual Property
acquired by the Loan Parties after the Effective Date). 
 (c) Each Security Document, other than any Security Document referred to in the
preceding paragraphs of this Section 3.18, upon execution and delivery thereof by the parties thereto and the making of the filings and taking of the other actions required therein, will be effective under applicable law to create in
favor of the Administrative Agent, for the benefit of the Secured Parties, a valid and enforceable security interest in the Collateral subject thereto, and will constitute a fully perfected security interest in all right, title and interest of the
Loan Parties in the Collateral subject thereto, except for rights secured by Liens permitted under Section 6.2. 
 ARTICLE IV

 CONDITIONS 

Section 4.1 The Effective Date. The obligations of the Lenders to make Loans hereunder and Issuing Bank to issue Letters of
Credit, as applicable, shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 10.2): 

(a) The Administrative Agent shall have received from each Loan Party either (i) a counterpart of this Agreement, the Collateral Agreement
and each IP Security Agreement signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy or electronic transmission of a signed signature page of this Agreement, each IP
Security Agreement and the Collateral Agreement) that such party has signed a counterpart of this Agreement, each IP Security Agreement and the Collateral Agreement (in each case to which it is a party). 

(b) The Administrative Agent shall have received a Note executed by the Borrower in favor of each Lender requesting a Note at least
three Business Days in advance of the Effective Date. 
 (c) The Administrative Agent shall have received a written opinion (addressed
to the Administrative Agent, the Issuing Banks and the Lenders and dated the Effective Date) of Goodwin Procter LLP, counsel for the Loan Parties, in form and substance reasonably satisfactory to the Administrative Agent. The Borrower hereby
requests such counsel to deliver such opinions. 

  
 -81- 

 (d) The Administrative Agent shall have received (i) certified copies of the
resolutions of the board of directors of the Borrower and each other Loan Party approving the transactions contemplated by the Loan Documents to which it is a party and the execution and delivery of such Loan Documents to be delivered by the
Borrower and the other Loan Parties on the Effective Date, and all documents evidencing other necessary corporate (or other applicable organizational) action and governmental approvals, if any, with respect to the Loan Documents and (ii) all
other documents reasonably requested by the Administrative Agent relating to the organization, existence and good standing of each Loan Party and authorization of the transactions contemplated hereby. 

(e) The Administrative Agent shall have received a certificate of the Secretary or an Assistant Secretary of each Loan Party certifying the
names and true signatures of the officers of such Loan Party authorized to sign the Loan Documents to which it is a party, to be delivered by each Loan Party on the Effective Date and the other documents to be delivered hereunder on the Effective
Date. 
 (f) The Administrative Agent shall have received a certificate, dated the Effective Date and signed on behalf of the Borrower by the
president, a vice president or a Financial Officer, confirming compliance with the conditions set forth in paragraphs (b), (c) and (d) of Section 4.2 as of the Effective Date (and assuming a Loan was made on the Effective Date).

 (g) The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Effective Date, including
(i) for the account of each Lender (including JPMCB), an upfront fee in an amount equal to 0.35% of the aggregate principal amount of the Commitment of such Lender as set forth on Schedule 2.1 on the Effective Date and (ii) to the
extent invoiced at least two Business Days prior to the Effective Date, reimbursement or payment of all out-of-pocket expenses (including fees, charges and disbursements
of counsel) required to be reimbursed or paid by any Loan Party hereunder, under any other Loan Document or under any other agreement entered into by any of the Arrangers, the Administrative Agent and the Lenders, on the one hand, and any of the
Loan Parties, on the other hand. 
 (h) The Administrative Agent shall have received the results of recent UCC, tax and judgment Lien
searches with respect to each of the Loan Parties in the jurisdictions contemplated by the Perfection Certificate, and such results shall not reveal any material judgment or any Lien on any of the assets of the Loan Parties except for Liens
permitted under Section 6.2 or Liens to be discharged on or prior to the Effective Date. 
 (i) The Lenders shall have received
from the Borrower (i) the financial statements described in Section 3.4(a), and (ii) reasonably detailed projections of the Borrower and its Subsidiaries, on a consolidated basis, for at least the three (3) fiscal years
ended after the Effective Date. 
 (j) On the Effective Date, the Administrative Agent shall have received a Solvency Certificate executed by
a Financial Officer of the Borrower in the form of Exhibit H. 
 (k) Since December 31, 2020, no event, development or circumstance
shall have occurred that, individually or in the aggregate, has had or would reasonably be expected to have a Material Adverse Effect. 
 (l)
(i) The Administrative Agent shall have received, at least five Business Days prior to the Effective Date, all documentation and other information regarding the Borrower and the Guarantors requested in connection with applicable “know your
customer” and anti-money laundering rules and regulations, including the USA Patriot Act, to the extent requested in writing of the Borrower at least ten Business Days prior to the Effective Date and (ii) to the extent the Borrower
qualifies as a “legal entity customer” under the Beneficial Ownership Regulation, at least five days prior to the Effective Date, any Lender that has requested, in a written notice to the Borrower at least ten Business Days prior to the
Effective Date, a Beneficial Ownership Certification in relation to the Borrower shall have received such Beneficial Ownership Certification. 

  
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 (m) The Collateral and Guarantee Requirement shall have been satisfied, and the
Administrative Agent, on behalf of the Secured Parties, shall have a security interest in the Collateral of the type and priority described in each Security Document to be entered into as of the Effective Date. The Administrative Agent shall have
received a completed Perfection Certificate dated the Effective Date and signed by a Financial Officer of the Borrower, together with all attachments contemplated thereby, including the results of a search of the Uniform Commercial Code (or
equivalent) filings made with respect to the Loan Parties in the jurisdictions contemplated by the Perfection Certificate and copies of the financing statements (or similar documents) disclosed by such search, together with Federal and State tax
lien searches and judgment lien searches in respect of the Loan Parties and their respective assets in those jurisdictions reasonably requested by the Administrative Agent, and evidence reasonably satisfactory to the Administrative Agent that the
Liens indicated by such financing statements (or similar documents) and other lien search results are permitted by Section 6.2 or have been, or will be on or prior to the Effective Date, released or terminated. 

Section 4.2 Each Credit Extension. The obligation of each Lender to make a Loan on the occasion of any Borrowing (other than a
Borrowing consisting solely of a conversion of Loans of one Type to another Type or a continuation of a Eurodollar Loan following the expiration of the applicable Interest Period), the obligation of each Issuing Bank to issue any Letter of Credit,
or amend or extend the expiration date, or increase the face amount of any Letter of Credit or any extension of the Maturity Date pursuant to Section 2.20 (each of the foregoing, a “Credit Extension”), is subject to the
satisfaction of the following conditions: 
 (a) The Administrative Agent shall have received a fully executed Borrowing Request or the
Administrative Agent and the applicable Issuing Bank shall have received a fully executed Issuance Notice and Application, as the case may be; provided, that this condition shall not apply to any extension of the Maturity Date pursuant to
Section 2.20; 
 (b) The representations and warranties of the Loan Parties set forth in this Agreement and the other Loan
Documents shall be true and correct in all material respects (other than to the extent qualified by materiality or “Material Adverse Effect”, in which case, such representations and warranties shall be true and correct in all respects) on
and as of the date of such Credit Extension, except that (i) for purposes of this Section, the representations and warranties contained in Section 3.4(a) shall be deemed to refer, following the first delivery thereof, to the most
recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 5.1 and (ii) to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in
such manner as of such earlier date; 
 (c) At the time of and immediately after giving effect to such Credit Extension, no Default or Event
of Default shall have occurred and be continuing; and 
 (d) At the time of and immediately after giving effect to such Credit Extension, the
Borrower would be in compliance with the financial covenant set forth in Section 6.8 whether or not such covenant would otherwise be tested on and as of the date of such Credit Extension. 

Each Credit Extension shall be deemed to constitute a representation and warranty by the Borrower as to the matters specified in paragraphs
(b), (c) and (d) of this Section. 

  
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 ARTICLE V 

AFFIRMATIVE COVENANTS 

Until the Commitments have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have
been paid in full and all Letters of Credit have been cancelled or expired or cash collateralized on terms satisfactory to the applicable Issuing Banks, each Loan Party covenants and agrees with the Lenders that: 

Section 5.1 Financial Statements: Other Information. The Borrower will furnish to the Administrative Agent (for distribution to
each Lender): 
 (a) within 180 days after the end of each fiscal year of the Borrower (or, after an IPO, such earlier date as required by
the SEC for the filing of the Annual Report on Form 10-K by the Borrower -89- 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 year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by independent public
accountants of recognized national standing (without a “going concern” or like qualification or exception (other than a qualification related to the maturity of the Commitments and the Loans at the Maturity Date) and without any
qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations of the Borrower and its consolidated
Subsidiaries on a consolidated basis in accordance with GAAP consistently applied; 
 (b) within 60 days after the end of each of the first
three fiscal quarters of each fiscal year of the Borrower (or, after an IPO, such earlier date as required by the SEC for the filing of the Quarterly Report on Form 10-Q by the Borrower 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 fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form
the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by one of its Financial Officers as presenting fairly in all material respects the financial
condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the
absence of footnotes; 
 (c) concurrently with any delivery of financial statements under clause (a) or (b) above, a certificate of a
Financial Officer in substantially the form of Exhibit E attached hereto (i) certifying as to whether a Default has occurred and is continuing as of the date thereof and, if a Default has occurred and is continuing as of the date thereof,
specifying the details thereof and any action taken or proposed to be taken with respect thereto, (ii) setting forth calculations illustrating compliance with Section 6.8 as of the fiscal quarter then ended, and (iii) if and to
the extent that any change in GAAP that has occurred since the date of the audited financial statements referred to in Section 3.4 had a material impact on such financial statements, specifying the effect of such change on the financial
statements accompanying such certificate; 
 (d) promptly after the same become publicly available, copies of all periodic and other reports,
proxy statements and other materials filed by the Borrower or any Restricted Subsidiary with the Securities and Exchange Commission, or any Governmental Authority succeeding to any or all of the functions of said Commission, or with any national
securities exchange, as the case may be, in each case that is not otherwise required to be delivered to the Administrative Agent pursuant hereto; provided that such information shall be deemed to have been delivered on the date on which such
information has been posted on the Borrower’s website on the Internet at https://pos.toasttab.com (or any new address identified by the Borrower) or at http://www.sec.gov; 

  
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 (e) within a reasonable period of time following any request in writing (including any
electronic message) therefor, information and documentation reasonably requested by the Administrative Agent or any Lender for purposes of compliance with applicable “know your customer” and anti-money laundering rules and regulations,
including the USA Patriot Act; 
 (f) prior to an IPO, within 90 days after the end of each fiscal year of the Borrower (beginning with the
fiscal year of the Borrower ending December 31, 2021), an annual budget of the Borrower for upcoming fiscal year, in form customarily prepared by the Borrower; and -90- 

(g) if any Subsidiary has been designated as an Unrestricted Subsidiary, concurrently with each delivery of financial statements under clause
(a) or (b) above, unaudited financial statements (in substantially the same form as the financial statements delivered pursuant to clauses (a) and (b) above) prepared on the basis of consolidating the accounts of the Borrower and its
Restricted Subsidiaries and treating any Unrestricted Subsidiaries as if they were not consolidated with the Borrower and otherwise eliminating all accounts of Unrestricted Subsidiaries, together with an explanation of reconciliation adjustments in
reasonable detail. 
 Information required to be delivered pursuant to Section 5.1(a) or Section 5.1(b) may be delivered
electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such information, or provides a link thereto on the Borrower’s website on the Internet at https://pos.toasttab.com (or
any new address identified by the company) or at http://www.sec.gov; or (ii) on which such information is posted on the Borrower’s behalf on an Internet or intranet website, if any, to which the Lenders and the Administrative Agent have
been granted access (whether a commercial, third-party website or whether sponsored by the Administrative Agent). The Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to herein,
and in any event shall have no responsibility to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 

Section 5.2 Notices of Material Events. The Borrower will furnish to the Administrative Agent (for distribution to each Lender)
prompt written notice of the following: 
 (a) the occurrence of any Default; 

(b) the filing or commencement of any Proceeding by or before any arbitrator or Governmental Authority against or affecting the Borrower or any
Subsidiary thereof that would reasonably be expected to result in a Material Adverse Effect; and 
 (c) any other development that becomes
known to senior management of the Borrower or any of its Subsidiaries that results in, or would reasonably be expected to result in, a Material Adverse Effect. 

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

  
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 Section 5.3 Existence; Conduct of Business. The Borrower will, and will cause
each of its Restricted Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises material to the conduct of its
business; provided that (i) the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 6.3 and (ii) none of the Borrower or any of its Restricted Subsidiaries shall be
required to preserve, renew or keep in full force and effect its rights, licenses, permits, privileges or franchises where failure to do so would not reasonably be expected to result in a Material Adverse Effect. 

Section 5.4 Payment of Taxes. The Borrower will, and will cause each of its Restricted Subsidiaries to, pay all Tax liabilities,
including all Taxes imposed upon it or upon its income or profits or upon any properties belonging to it that, if not paid, would reasonably be expected to result in a Material Adverse Effect, before the same shall become delinquent or in default,
and all lawful claims other than Tax liabilities which, if unpaid, would become a Lien upon any properties of the Borrower or any of its Restricted Subsidiaries not otherwise permitted under Section 6.2, in both cases except where
(a) the validity or amount thereof is being contested in good faith by appropriate proceedings and (b) to the extent required by GAAP, the Borrower or such Restricted Subsidiary has set aside on its books adequate reserves with respect
thereto in accordance with GAAP. 
 Section 5.5 Maintenance of Properties; Insurance. The Borrower will, and will cause each of
its Restricted Subsidiaries to, (a) keep and maintain all property used in the conduct of its business in good working order and condition, ordinary wear and tear and casualty events excepted, except to the extent that failure to do so could
not reasonably be expected to have a Material Adverse Effect, and (b) maintain insurance with financially sound and reputable insurance companies, a Captive Insurance Subsidiary or through self-insurance in such amounts and against such risks
as are customarily maintained by companies engaged in the same or similar businesses operating in the same or similar locations. Each policy of liability or casualty insurance maintained by or on behalf of the Company or any Restricted Subsidiary
will (a) in the case of each liability insurance policy (other than workers’ compensation, director and officer liability or other policies in which such endorsements are not customary), name the Administrative Agent, on behalf of the
Secured Parties, as an additional insured thereunder and (b) in the case of each casualty insurance policy, contain a lender’s loss payable clause or endorsement that names the Administrative Agent, on behalf of the Secured Parties, as the
lender’s loss payee thereunder; provided that, the Company may satisfy such requirements within 30 days of the Effective Date (as extended by the Administrative Agent in its reasonable discretion). 

Section 5.6 Books and Records; Inspection Rights. The Borrower will, and will cause each of its Restricted Subsidiaries to, keep
proper books of record and account in which entries full, true and correct in all material respects are made and are sufficient to prepare financial statements in accordance with GAAP. The Borrower will, and will cause each of its Restricted
Subsidiaries to, permit any representatives designated by the Administrative Agent (pursuant to the request made through the Administrative Agent), upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from
its books and records, and to discuss its affairs, finances and condition with its officers and independent accountants (provided that the Borrower or such Restricted Subsidiary shall be afforded the opportunity to participate in any
discussions with such independent accountants), all at such reasonable times and as often as reasonably requested (but no more than once annually if no Event of Default exists). Notwithstanding anything to the contrary in this Section, none of the
Borrower or any of its Restricted Subsidiaries shall be required to disclose, permit the inspection, examination or making copies or abstracts of, or discussion of, any document, information or other matter that (i) constitutes non-financial trade secrets, information that could be used by a competitor to develop or improve a competitive product, or non-financial proprietary information, (ii) in
respect of which disclosure to the Administrative Agent or any Lender (or their respective representatives) is prohibited by applicable law or any third party consent legally binding on the Borrower or its Restricted Subsidiaries or (iii) is
subject to attorney, client or similar privilege or constitutes or includes attorney work-product. 

  
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 Section 5.7 ERISA-Related Information. The Borrower shall supply to the
Administrative Agent (in sufficient copies for all the Lenders, if the Administrative Agent so requests): (a) if requested by the Administrative Agent, within 30 days of such request, a copy of IRS Form 5500 (including schedules thereto) in respect
of a Plan with Unfunded Pension Liabilities, and (b) promptly and in any event within 30 days after a Loan Party or any ERISA Affiliate knows or has reason to know that any ERISA Event has occurred that would reasonably be expected to result in
a Material Adverse Effect, a certificate of a Financial Officer of Borrower describing such ERISA Event and the action, if any, proposed to be taken with respect to such ERISA Event and a copy of any notice filed with the PBGC, the IRS or Department
of Labor pertaining to such ERISA Event and any notices received by such Loan Party or ERISA Affiliate from the PBGC or any other governmental agency with respect thereto; provided that, in the case of ERISA Events under paragraph (d) of
the definition thereof, the 30-day period set forth above shall be a 10-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 30 days, after becoming aware that there has been (i) a material increase in aggregate Unfunded Pension Liabilities under
all Plans (taking into account only Pension Plans with positive Unfunded Pension Liabilities) since the date the representations hereunder are given or deemed given, or from any prior notice, as applicable, in each case which would reasonably be
expected to result in a Material Adverse Effect; (ii) the existence of potential withdrawal liability under Section 4201 of ERISA, if the Loan Parties and the ERISA Affiliates were to withdraw completely from any and all Multiemployer
Plans that would reasonably be expected to result in a Material Adverse Effect, (iii) the adoption of, or the commencement of contributions to, any Plan subject to Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA
by a Loan Party or any ERISA Affiliate that would reasonably be expected to result in a Material Adverse Effect, or (iv) the adoption of any amendment to a Plan subject to Title IV of ERISA or Section 412 of the Code or Section 302 of
ERISA which results in a material increase in contribution obligations of a Loan Party or any ERISA Affiliate, a detailed written description thereof from a Financial Officer of Borrower; and (d) as soon as practicable, and in any event within
10 days, notice if, at any time after the Effective Date, a Loan Party or any ERISA Affiliate maintains, or contributes to (or incurs an obligation to contribute to), a Pension Plan or Multiemployer Plan to which such party did not maintain or
contribute to prior to the Effective Date. 
 Section 5.8 Compliance with Laws and Agreements. The Borrower will, and will cause
each of its Restricted Subsidiaries to, comply with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its property and all indentures, agreements and other instruments binding upon it or its property, except
where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect. The Borrower will maintain in effect and enforce policies and procedures designed to promote compliance by the
Borrower, its Subsidiaries and its and their respective directors, officers, and employees of the foregoing with Anti-Corruption Laws, applicable Sanctions and the Beneficial Ownership Regulation. 

Section 5.9 Use of Proceeds. The proceeds of the Loans will be used for working capital and general corporate purposes of the
Borrower and its Restricted Subsidiaries, including for Permitted Acquisitions and Investments and other transactions not prohibited under this Agreement. The Letters of Credit and the proceeds thereof will be used for working capital and general
corporate purposes of the Borrower and its Restricted Subsidiaries. No part of the proceeds of any Loan and no Letter of Credit will be used, whether directly or indirectly, for any purpose that entails a violation of any of the regulations of the
Board, including Regulations T, U and X. The Borrower will not request any Credit Extension, and the Borrower shall not use, and shall procure that its Subsidiaries and its or their respective directors, officers, and employees shall not use, the
proceeds of any Credit Extension, (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (ii) for the
purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, to the extent such activities, business or transaction would be prohibited by Sanctions, or
(iii) in any manner that would result in the violation of any Sanctions applicable to any party hereto. 

  
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 Section 5.10 Additional Guarantors. (a) In the event that any Person
becomes a Designated Subsidiary after the Effective Date, the Borrower shall (i) in the case of an Unrestricted Subsidiary becoming a Designated Subsidiary, substantially concurrently with the redesignation or deemed redesignation thereof as a
Restricted Subsidiary pursuant to Section 5.12 or (ii) otherwise, 60 days thereafter (or such longer period of time as the Administrative Agent may agree in its reasonable discretion) cause the Collateral and Guarantee Requirement
to be satisfied (i) with respect to such Designated Subsidiary and (ii) with respect to any Equity Interests in or Indebtedness of such Designated Subsidiary owned by or on behalf of any Loan Party. 

(b) With respect to each Designated Subsidiary referred to in clause (a) above, the Borrower shall promptly after delivering the financial
statements pursuant to Sections 5.1(a) or (b), as the case may be, send to the Administrative Agent written notice setting forth (i) the date on which such Person became a Designated Subsidiary and (ii) all of the data
required to be set forth in Schedule 3.12 to the Disclosure Letter; and such written notice shall be deemed to supplement Schedule 3.12 to the Disclosure Letter for all purposes hereof. 

Section 5.11 Further Assurances. (a) Subject to the limitations set forth in the definition of the term “Collateral and
Guarantee Requirement”, the Borrower will, and will cause each other Loan Party to, execute any and all further documents, financing statements, agreements and instruments, and take all such further actions (including the filing and recording
of UCC financing statements, deeds of trust and other documents), that may be required under any applicable law, or that the Administrative Agent or the Required Lenders may reasonably request, to cause the Collateral and Guarantee Requirement to be
and remain satisfied, all at the expense of the Loan Parties. The Borrower also agrees to provide to the Administrative Agent, from time to time upon reasonable request, evidence reasonably satisfactory to the Administrative Agent as to the
perfection and priority of the Liens created or intended to be created by the Security Documents. 
 (b) If any material assets (other than
any Excluded Assets) are acquired by the Borrower or any other Loan Party after the Effective Date (other than assets constituting Collateral under the Collateral Agreement that become subject to the Lien created by the Collateral Agreement upon
acquisition thereof), the Borrower will notify the Administrative Agent and the Lenders thereof, and, if requested by the Administrative Agent or the Required Lenders, subject to the limitations set forth in the definition of the term
“Collateral and Guarantee Requirement”, the Borrower will cause such assets to be subjected to a Lien securing the Secured Obligations and will take, and cause the other Loan Parties to take, such actions as shall be necessary or
reasonably requested by the Administrative Agent to grant and perfect such Liens, including actions described in paragraph (a) of this Section 5.11, all at the expense of the Loan Parties. 

Section 5.12 Designation of Restricted and Unrestricted Subsidiaries. (a) The Board of Directors or a Financial Officer of
the Borrower may designate any Subsidiary, including a newly acquired or created Subsidiary, to be an Unrestricted Subsidiary if it meets the following qualifications: 

(i) such Subsidiary does not own any Equity Interest of the Borrower or any other Restricted Subsidiary; 

  
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 (ii) the Borrower would be permitted to make an Investment at the time of the designation
in an amount equal to the aggregate fair market value (as determined by the Borrower in good faith) of all Investments of the Borrower or its Restricted Subsidiaries in such Subsidiary (valued at the Borrower’s and its Restricted
Subsidiaries’ proportional share of the fair market value (as determined by the Borrower in good faith) of such Subsidiary’s assets less liabilities); 

(iii) any Guarantee or other credit support thereof by the Borrower or any Restricted Subsidiary is permitted under Section 6.1 or
Section 6.7; 
 (iv) neither the Borrower nor any Restricted Subsidiary has any obligation to subscribe for additional Equity
Interests of such Subsidiary or to maintain or preserve its financial condition or cause it to achieve specified levels of operating results, except to the extent permitted by Section 6.1 or Section 6.7; 

(v) immediately before and after such designation, no Default or Event of Default shall have occurred and be continuing or would result from
such designation; 
 (vi) no Subsidiary may be designated as an Unrestricted Subsidiary if it is a “restricted subsidiary” or a
“guarantor” (or any similar designation) for any other Indebtedness of the Borrower or a Restricted Subsidiary; and 
 (vii) such
Subsidiary does not own (or hold an exclusive license in respect of) any Intellectual Property other than ownership or a license resulting from a Permitted IP Transfer. 

Once so designated, the Subsidiary will remain an Unrestricted Subsidiary, subject to subsection (b). 

(b) (i) A Subsidiary previously designated as an Unrestricted Subsidiary which fails to meet the qualifications set forth in subsections
(a)(i), (a)(iii), (a)(iv), (a)(vi) or (a)(vii) of this Section 5.12 will be deemed to become at that time a Restricted Subsidiary, subject to the consequences set forth in subsection (d) of this Section 5.12 and
(ii) the Board of Directors may designate an Unrestricted Subsidiary to be a Restricted Subsidiary if no Event of Default exists at the time of the designation and the designation would not cause an Event of Default. 

(c) Upon a Restricted Subsidiary becoming an Unrestricted Subsidiary, 

(i) all existing Investments of the Borrower and the Restricted Subsidiaries therein (valued at the Borrower’s and its Restricted
Subsidiaries’ proportional share of the fair market value of its assets less liabilities) will be deemed made at that time; 
 (ii) all
existing Equity Interest or Indebtedness of the Borrower or a Restricted Subsidiary held by it will be deemed issued or incurred, as applicable, at that time, and all Liens on property of the Borrower or a Restricted Subsidiary securing its
obligations will be deemed incurred at that time; 
 (iii) all existing transactions between it and the Borrower or any Restricted
Subsidiary will be deemed entered into at that time; 
 (iv) it will be released at that time from its Guaranty, if applicable; and 

(v) it will cease to be subject to the provisions of this Agreement as a Restricted Subsidiary. 

  
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 (d) Upon an Unrestricted Subsidiary becoming, or being deemed to become, a Restricted
Subsidiary pursuant to Section 5.12(b). 
 (i) all of its Indebtedness and Liens will be deemed incurred at that time for
purposes of Section 6.1 and Section 6.2, as applicable; 
 (ii) all Investments therein previously charged under
Section 6.7 will be credited thereunder; 
 (iii) if it is a Designated Subsidiary, it shall be required to become a Guarantor
pursuant to Section 5.10 and satisfy the Collateral and Guarantee Requirement; and 
 (iv) it will be subject to the provisions
of this Agreement as a Restricted Subsidiary. 
 (e) Any designation by the Board of Directors or Financial Officer of the Borrower of a
Subsidiary as an Unrestricted Subsidiary after the Effective Date will be evidenced to the Administrative Agent by promptly filing with the Administrative Agent a copy of the resolutions of the Board of Directors giving effect to the designation and
a certificate of a Responsible Officer of the Borrower certifying that the designation complied with the foregoing provisions. 

Section 5.13 Information Regarding Collateral. The Borrower will furnish to the Administrative Agent prompt (and in any event
within 90 days) written notice of any change (i) in any Loan Party’s legal name, as set forth in such Loan Party’s organizational documents, (ii) in the jurisdiction of incorporation or organization of any Loan Party,
(iii) in the form of organization of any Loan Party or (iv) in any Loan Party’s organizational identification number, if any, or, with respect to a Loan Party organized under the laws of a jurisdiction that requires such information
to be set forth on the face of a Uniform Commercial Code financing statement, the Federal Taxpayer Identification Number of such Loan Party. 

Section 5.14 Post-Closing Obligations. Within 30 days of the Effective Date, the Borrower shall (a) prepay or redeem the
Senior Notes and (b) furnish to the Administrative Agent written evidence thereof, which shall be in form and substance reasonably satisfactory to the Administrative Agent. 

ARTICLE VI 
 NEGATIVE COVENANTS

 Until the Commitments have expired or terminated and the principal of and interest on each Loan and all fees payable hereunder have
been paid in full and all Letters of Credit have been cancelled or expired or cash collateralized on terms satisfactory to the applicable Issuing Banks, each Loan Party covenants and agrees with the Lenders that: 

Section 6.1 Indebtedness. No Loan Party shall, nor shall it permit any of its Restricted Subsidiaries to, create, incur or assume,
or otherwise become or remain directly or indirectly liable with respect to, any Indebtedness, except: 
 (a) the Obligations; 

  
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 (b) Indebtedness of the Borrower or its Restricted Subsidiaries with respect to Capital
Lease Obligations and purchase money Indebtedness in an aggregate principal amount outstanding not to exceed, at the time of incurrence thereof, $75,000,000 (or after an IPO, the greater of (x) $150,000,000 and (y) 15% of Consolidated Total Assets
of the Borrower and its Restricted Subsidiaries as of the last day of the most recent fiscal quarter in respect of which financial statements have been delivered pursuant to Section 5.1(a) or (b) or Section 3.4(a)
and calculated on a Pro Forma Basis); provided that any such Indebtedness shall be secured only by the asset (including all accessions, attachments, improvements and the proceeds thereof) acquired, constructed or improved in connection with
the incurrence of such Indebtedness; 
 (c) Indebtedness of any Loan Party in an aggregate outstanding principal amount not to exceed, at the
time of incurrence, $100,000,000 (or after an IPO, $750,000,000); 
 (d) Indebtedness of any Restricted Subsidiary to the Borrower or to any
other Restricted Subsidiary, or of the Borrower to any Restricted Subsidiary; provided that all such Indebtedness owing by a Loan Party to any Restricted Subsidiary that is not a Guarantor shall be unsecured and subordinated in right of
payment to the payment in full of the Obligations; 
 (e) Indebtedness which may be deemed to exist pursuant to any Guarantees, performance,
statutory or similar obligations (including in connection with workers’ compensation) or obligations in respect of letters of credit, surety bonds, bank guarantees or similar instruments related thereto incurred in the ordinary course of
business, or pursuant to any appeal obligation, appeal bond or letter of credit in respect of judgments that do not constitute an Event of Default under clause (k) of Article VIII; 

(f) Indebtedness in connection with Cash Management Services, cash management or custodial agreements, netting services, overdraft protections
and otherwise similarly in connection with deposit accounts, Indebtedness in connection with credit card, debit card or other similar cards or payment processing services and reimbursement obligations pursuant to corporate credit cards; 

(g) Guarantees by the Borrower of Indebtedness of a Restricted Subsidiary or Guarantees by a Restricted Subsidiary of Indebtedness the Borrower
or another Restricted Subsidiary with respect, in each case, to Indebtedness otherwise permitted to be incurred pursuant to this Section 6.1; provided that (i) if the Indebtedness that is being Guaranteed is unsecured and/or
subordinated to the Obligations, the Guarantee shall also be unsecured and/or subordinated to the Obligations and (ii) no Guarantee by any Restricted Subsidiary of any Junior Financing incurred by a Loan Party shall be permitted unless such
Restricted Subsidiary shall have also provided a Guaranty; 
 (h) Indebtedness existing on the Effective Date and described in Schedule 6.1
to the Disclosure Letter and extensions, renewals and replacements of any such Indebtedness that do not increase the outstanding principal amount thereof or result in an earlier maturity date or decreased weighted average life thereof; 

(i) obligations under any Swap Agreement, provided, that with respect to obligations other than obligations under a Permitted Call
Spread Transaction, such obligations are entered into in order to effectively cap, collar or exchange interest rates (from floating to fixed rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing
liability or investment of the Borrower or any Restricted Subsidiary, or to hedge currency exposure or to hedge energy costs or exposure, which, in any case, are not entered into for speculative purposes; 

  
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 (j) obligations arising with respect to purchase price adjustments, earnouts, holdbacks and
other similar deferred consideration related to the performance of the Borrower or any Subsidiary pursuant to the agreements related thereto, in each case in connection with Permitted Acquisitions or Investments permitted under
Section 6.7; 
 (k) Indebtedness incurred by a Securitization Subsidiary; 

(l) other Indebtedness of Restricted Subsidiaries of the Borrower that are not Loan Parties in an aggregate principal outstanding amount not to
exceed $20,000,000; provided that any such Indebtedness is not guaranteed by the Borrower or any Restricted Subsidiary that is a Guarantor; 

(m) Incremental Equivalent Debt; and 

(n) to the extent constituting Indebtedness, transfer pricing, cost plus or similar arrangements entered into by the Borrower with its
Subsidiaries in the ordinary course of business. 
 Section 6.2 Liens. The Borrower will not, and will not permit any Restricted
Subsidiary to, create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it except: 

(a) Permitted Encumbrances; 
 (b)
any Lien on any property or asset of the Borrower or any Restricted Subsidiary existing on the Effective Date and set forth in Schedule 6.2 to the Disclosure Letter (provided that Liens securing Indebtedness or other obligations of
less than $1,000,000 individually and $5,000,000 in the aggregate do not need to be set forth in Schedule 6.2 to the Disclosure Letter to be permitted Liens under this clause (b)) and any modifications, renewals and extensions thereof and any
Lien granted as a replacement or substitute therefor; provided that (i) such replacement, renewal or extension Lien shall not apply to any other property or asset of the Borrower or any Restricted Subsidiary other than
(y) improvements thereon or proceeds thereof and (z) after-acquired property that is affixed or incorporated into the property covered by such Lien and (ii) the obligations secured or benefited by such modified, replacement, renewal
or extension Lien, to the extent constituting Indebtedness, are permitted by Section 6.1; 
 (c) any Lien existing on any
property or asset prior to the acquisition thereof by the Borrower or any Restricted Subsidiary or existing on any property or asset of any Person that becomes a Restricted Subsidiary (other than pursuant to a redesignation or deemed redesignation
of an Unrestricted Subsidiary as a Restricted Subsidiary as provided in Section 5.12), in each case after the Effective Date and prior to the time such Person becomes a Restricted Subsidiary and any modifications, replacements, renewals
or extensions thereof; provided that (i) such Lien is not created in contemplation of or in connection with such acquisition or such Person becoming a Restricted Subsidiary, as the case may be, (ii) such Lien shall not apply to any
other property or assets of the Borrower or any other Restricted Subsidiary (other than any replacements of such property or assets and additions and accessions thereto, the proceeds or products thereof and other than after-acquired property subject
to a Lien securing Indebtedness and other obligations incurred prior to such time and which Indebtedness and other obligations are permitted hereunder that require or include, pursuant to their terms at such time, a pledge of after-acquired
property, it being understood that such requirement shall not be permitted to apply to any property to which such requirement would not have applied but for such acquisition), (iii) such Lien shall secure only those obligations which it secures on
the date of such acquisition or the date such Person becomes a Restricted Subsidiary, as the case may be, and extensions, renewals, replacements and refinancings thereof so long as the principal amount of such extensions, renewals and replacements
does not exceed the principal amount of the obligations being extended, renewed or replaced plus accrued interest and expenses and fees, and (iv) if such Liens secure Indebtedness, such Indebtedness is permitted by Section 6.1; 

  
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 (d) Liens on fixed or capital assets acquired, constructed or improved by the Borrower or
any Restricted Subsidiary; provided that (i) such Liens secure Indebtedness that is permitted by Section 6.1(b), (ii) such Liens and the Indebtedness secured thereby are initially incurred prior to or within 180 days after
the acquisition or the completion of the construction or improvement of such fixed or capital assets, (iii) the Indebtedness secured thereby does not exceed 100% of the cost of acquiring, constructing or improving such fixed or capital assets
and customary related expenses, and (iv) such Liens shall not apply to any other property or assets of the Borrower or any Restricted Subsidiary other than additions, accessions, parts, attachments or improvements on or proceeds of such fixed
or capital assets; provided that clause (ii) shall not apply to any refinancing, extension, renewal or replacement thereof; 

(e) easements, licenses, sublicenses, leases or subleases granted to others (A) not interfering in any material respect with the business
of the Borrower and its Restricted Subsidiaries, taken as a whole, or (B) not securing any Indebtedness; 
 (f) the interest and title
of a lessor under any lease, license, sublease or sublicense entered into by the Borrower or any Restricted Subsidiary in the ordinary course of its business and other statutory and common law landlords’ Liens under leases; 

(g) in connection with the sale or transfer of any assets in a transaction not prohibited hereunder, customary rights and restrictions
contained in agreements relating to such sale or transfer pending the completion thereof; 
 (h) in the case of any Joint Venture, any Liens
on its Equity Interests pursuant to its organizational documents or any related joint venture or similar agreement; 
 (i) Liens securing
Indebtedness to finance insurance premiums owing in the ordinary course of business to the extent such financing is not prohibited hereunder; 

(j) Liens on earnest money deposits of cash or Cash Equivalents or Marketable Securities made in connection with any Acquisition not prohibited
hereunder; 
 (k) bankers’ Liens, rights of setoff and other similar Liens existing solely with respect to cash and cash equivalents or
other securities on deposit in one or more accounts maintained by the Borrower or any Restricted Subsidiary, in each case granted in the ordinary course of business in favor of the bank or banks, securities intermediaries or other depository
institutions with which such accounts are maintained, securing amounts owing to institutions with respect to cash management operating account arrangements and similar arrangements; 

(l) Liens in the nature of the right of setoff in favor of counterparties to contractual agreements not otherwise prohibited hereunder with the
Borrower or any of its Restricted Subsidiaries in the ordinary course of business; 
 (m) Liens securing the Obligations pursuant to any Loan
Document; 
 (n) Liens on Securitization Assets incurred in connection with a Securitization Facility and Liens on any Securitization Assets
transferred in connection with a Receivables Financing Transaction, including Liens on assets securing the Standard Securitization Undertakings and Liens on such Securitization Assets resulting from UCC filings or from recharacterization of any such
sale as a financing or a loan; 

  
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 (o) other Liens; provided that, at the time of incurrence of the obligations secured
thereby, the aggregate outstanding principal amount of obligations secured by Liens in reliance on this clause (o) does not exceed $25,000,000 (or after an IPO, the greater of (x) $50,000,000 and (y) 5% of Consolidated Total Assets of the
Borrower and its Restricted Subsidiaries as of the last day of the most recent fiscal quarter in respect of which financial statements have been delivered pursuant to Section 5.1(a) or (b) or Section 3.4(a) and
calculated on a Pro Forma Basis); 
 (p) Liens to secure Incremental Equivalent Debt to the extent permitted or provided for under
Section 2.19(d); 
 (q) Liens (A) on cash advances or escrow deposits in favor of the seller of any property to be acquired
in an Investment permitted pursuant to Section 6.7 to be applied against the purchase price for such Investment or otherwise in connection with any escrow arrangements with respect to any such Investment or any disposition permitted
under Section 6.3 (including any letter of intent or purchase agreement with respect to such Investment or disposition), or (B) consisting of an agreement to dispose of any property in a disposition permitted under
Section 6.3, in each case, solely to the extent such Investment or disposition, as the case may be, would have been permitted on the date of the creation of such Lien; 

(r) Liens granted by a Restricted Subsidiary that is not a Loan Party in favor of any Restricted Subsidiary and Liens granted by a Loan Party
in favor of any other Loan Party; 
 (s) Liens on insurance policies and the proceeds thereof securing the financing of the premiums with
respect thereto; 
 (t) receipt of progress payments and advances from customers in the ordinary course of business to the extent the same
creates a Lien on the related inventory and proceeds thereof; 
 (u) any Lien securing Indebtedness permitted by Section 6.1(1);
provided that such Lien shall not apply to any property or assets of any Loan Party. 
 (v) Liens on cash or Investments permitted
under Section 6.4 securing Swap Agreements in the ordinary course of business submitted for clearing in accordance with applicable law; 

(w) customary Liens granted in favor of a trustee to secure fees and other amounts owing to such trustee under an indenture or other agreement
pursuant to Indebtedness not prohibited under this Agreement; 
 (x) security deposits paid to landlords in the ordinary course of business
securing leases and subleases permitted hereunder; and 
 (y) with respect to any Foreign Subsidiary, other Liens and privileges arising
mandatorily by any requirement of applicable Law. 

  
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 Section 6.3 Fundamental Changes; Asset Sales. 

(a) The Borrower will not, and will not permit any Restricted Subsidiary to, (x) merge into or consolidate with any other Person, or
permit any other Person to merge into or consolidate with it, (y) sell, transfer, lease, enter into any sale-leaseback transactions with respect to, or otherwise dispose of (in one transaction or in a series of transactions) all or
substantially all of the assets of the Borrower and its Restricted Subsidiaries, taken as a whole, or all or substantially all of the Equity Interests of any of its Restricted Subsidiaries (in each case, whether now owned or hereafter acquired) (it
being agreed, for the avoidance of doubt, that sales, leases, transfers and other dispositions will not include any performance- or milestone-based feature of any Capital Product that adjusts the principal (or equivalent) of such Capital Product),
or (z) liquidate or dissolve, except that, if at the time thereof and immediately after giving effect thereto no Default or Event of Default shall have occurred and be continuing: 

(i) any Subsidiary or any other Person may merge into or consolidate with the Borrower in a transaction in which the surviving entity is
(x) the Borrower or (y) a corporation organized and existing under the laws of the United States of America, any State thereof or the District of Columbia, which corporation shall expressly assume, by a written instrument in form and
substance reasonably satisfactory to the Administrative Agent, all the Obligations of the Borrower under the Loan Documents and shall deliver all information and documentation reasonably requested by the Administrative Agent or any Lender for
purposes of compliance with applicable “know your customer” and anti-money laundering rules and regulations, including the USA Patriot Act; 

(ii) any Person (other than the Borrower) may merge into or consolidate with any Restricted Subsidiary in a transaction in which the surviving
entity is a Restricted Subsidiary (provided that any such merger or consolidation involving a Guarantor must result in a Guarantor as the surviving entity); 

(iii) any Loan Party may sell, transfer, lease or otherwise dispose of its assets to any other Loan Party, and any Restricted Subsidiary that
is not a Loan Party may sell, transfer, lease or otherwise dispose of its assets to any Loan Party or any other Restricted Subsidiary; 

(iv) in connection with any Acquisition, any Restricted Subsidiary may merge into or with, or consolidate with any other Person, and any other
Person may merge into such Restricted Subsidiary, so long as the Person surviving such merger or consolidation shall be a Restricted Subsidiary (provided that any such merger or consolidation involving a Guarantor must result in a Guarantor
as the surviving entity); 
 (v) any Restricted Subsidiary may merge into or consolidate with any other Person, or have any other Person
merge into or consolidate with it, in a transaction in which such Restricted Subsidiary ceases to be a direct or indirect Subsidiary if such transaction is also permitted by clause (ix) below; 

(vi) any Restricted Subsidiary may liquidate or dissolve if the Borrower determines in good faith that such liquidation or dissolution is in
the best interests of the Borrower and is not materially disadvantageous to the Lenders; 
 (vii) any Restricted Subsidiary that is not a
Guarantor may sell or transfer Equity Interests owned by such Restricted Subsidiary to any other Restricted Subsidiary that is not a Guarantor or to any Loan Party; and 

(viii) the Borrower or any Restricted Subsidiary of the Borrower may make any sale, transfer or disposition permitted pursuant to
Section 6.3(b). 

  
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 (b) The Borrower will not, and will not permit any Restricted Subsidiary to, sell, transfer,
lease or otherwise dispose (it being agreed, for the avoidance of doubt, that sales, transfers, leases and other dispositions will not include either any performance- or milestone-based feature of any Capital Product that adjusts the principal (or
equivalent) of such Capital Product) of any asset, including any Equity Interest, owned by it, nor will the Borrower permit any of the Restricted Subsidiaries to issue any additional Equity Interest in such Restricted Subsidiary, except: 

(i) sales, transfers and other dispositions of inventory, used or surplus equipment and other fixed assets in the ordinary course of business
and dispositions of cash, Investments permitted pursuant to Section 6.7 and other cash equivalents in a manner not otherwise prohibited hereunder; 

(ii) sales, transfers and other dispositions (A) to a Loan Party or (B) among any Restricted Subsidiaries that are not Loan Parties;

 (iii) issuances of Equity Interests in a Restricted Subsidiary (A) as incentive compensation to officers, directors or employees of
such Restricted Subsidiary; provided in the case of this clause (A), such Restricted Subsidiary is not a Guarantor, (B) to the Borrower or a Wholly Owned Subsidiary; provided that any such issuance that would result in any Loan
Party directly owning a lesser percentage of the Equity Interests in such Restricted Subsidiary than such Loan Party owned immediately prior to giving effect thereto would only be permitted if such issuance, were it treated as a corresponding
disposition of such Equity Interests by such Loan Party, would otherwise be permitted hereunder, or (C) as a Restricted Payment made in reliance on Section 6.04(b); 

(iv) dispositions of assets to the extent that (A) such assets are exchanged for credit against the purchase price of similar replacement
assets or (B) the proceeds of such disposition are reasonably promptly applied to the purchase price of such replacement assets; 
 (v)
licenses, sublicenses, leases and subleases that do not interfere in any material respect with the business of the Borrower of its Restricted Subsidiaries; 

(vi) sales or discounts of accounts receivable in connection with the compromise or collection thereof in the ordinary course of business;

 (vii) the granting of Liens permitted by Section 6.2. 

(viii) the making of any Restricted Payments permitted by Section 6.4 and any Investment permitted by Section 6.7;

 (ix) dispositions or transfers in the form of (A) the contribution or other disposition to a CFC Holdco or a Foreign Subsidiary of
Equity Interests in, or Indebtedness of, any other CFC Holdco or a Foreign Subsidiary owned directly by such Loan Party in exchange for Equity Interests in (or additional share premium or paid in capital in respect of Equity Interests in), or
Indebtedness of, such CFC Holdco or Foreign Subsidiary, or a combination of any of the foregoing, and (B) an exchange of Equity Interests in any CFC Holdco or Foreign Subsidiary for Indebtedness of, or of Indebtedness of such CFC Holdco or
Foreign Subsidiary for Equity Interests in, such CFC Holdco or Foreign Subsidiary; 
 (x) any sale, transfer or disposition of the Equity
Interests of any Restricted Subsidiary or other assets owned by such Person for fair market value (as determined in good faith by the Borrower); provided that (A) the aggregate consideration received or to be received in respect of any
such sale, transfer or disposition plus (B) the aggregate consideration received or to be received in the twelve-month period then ended in respect of all other dispositions effected in reliance on this clause prior to or concurrently
with such disposition shall not exceed $10,000,000 (or after an IPO, the greater of (x) $150,000,000 and (y) 20% of Consolidated Total Assets of the Borrower and its Restricted Subsidiaries at the time of such disposition); 

  
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 (xi) sales, transfers or other dispositions consisting of the unwinding of any permitted
Swap Agreement in accordance with its terms; and 
 (xii) Permitted IP Transfers. 

Section 6.4 Restricted Payments. The Borrower will not, and will not permit any of its Restricted Subsidiaries to, declare or make,
directly or indirectly, any Restricted Payment, except: so long as (i) no Default or Event of Default has occurred and is continuing or would result therefrom and (ii) the Borrower is in compliance with the financial covenant set forth in
Section 6.8 on a Pro Forma Basis, Restricted Payments in an amount not exceeding the sum of (x) the amount by which Liquidity (determined on a pro forma basis at the time of (and after giving effect to) such Restricted Payment)
exceeds $500,000,000 plus (y) an amount of up to $10,000,000 (or after an IPO, $100,000,000) (less any amounts previously utilized under this clause (y)) in the aggregate during the term of this Agreement; provided that Restricted
Payments utilizing this Section 6.4(a) shall be deemed to be incurred under clause (x) to the extent there is capacity thereunder and if a Restricted Payment is to be incurred under both clauses (x) and (y), it will be deemed
to have been incurred first under clause (x) to the extent of the capacity thereunder and then any remaining amount shall be deemed incurred under clause (y); 

(b) any Restricted Subsidiary may declare and pay dividends or make other Restricted Payments ratably to (i) its equity holders,
(ii) the Borrower or (iii) any Guarantor; provided that, in the case of clause (i), any Restricted Payment made by a Guarantor to a Restricted Subsidiary that is not a Guarantor is promptly further distributed to a Guarantor; 

(c) The Borrower may make Restricted Payments to redeem in whole or in part any of its Equity Interests (including Disqualified Equity
Interests) for another class of its Equity Interests or rights to acquire its Equity Interests (other than, in each case, Disqualified Equity Interests) or with proceeds from substantially concurrent equity contributions or issuances of new Equity
Interests (other than Disqualified Equity Interests); provided that the only consideration paid for any such redemption is Equity Interests of the Borrower or the proceeds of any substantially concurrent equity contribution or issuance of
Equity Interest (other than, in each case, Disqualified Equity Interests); 
 (d) Restricted Payments made in connection with equity
compensation that consist solely of the withholding of shares to any employee (or other provider of services) in an amount equal to the employee’s (or other provider of services’) tax obligation on such compensation and the payment in cash
to the applicable Governmental Authority of an amount equal to such tax obligation; 
 (e) the Borrower may declare and make dividends
payable solely in additional shares of the Borrower’s Qualified Equity Interests and may exchange Equity Interests for its Qualified Equity Interests; 

(f) following an IPO, the Borrower may make any Restricted Payment that has been declared by it, so long as (A) such Restricted Payment
would be otherwise permitted under this Section 6.4 at the time so declared and (B) such Restricted Payment is made within 60 days of such declaration; 

  
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 (g) following an IPO, the Borrower may repurchase Equity Interests pursuant to any
accelerated stock repurchase or similar agreement; provided that the payment made by the Borrower with respect to such repurchase would be otherwise permitted under clause (a) of this Section 6.4 at the time such agreement is
entered into and at the time such payment is made; 
 (h) the Borrower may make Restricted Payments pursuant to and in accordance with equity
compensation plans or other similar agreements for directors, officers, employees or consultants of the Borrower and its Restricted Subsidiaries or in connection with a cessation of service of such Person; 

(i) the Borrower may repurchase Equity Interests or rights in respect thereof granted to directors, officers or employees of the Borrower or
its Restricted Subsidiaries; provided that the aggregate cash consideration paid pursuant to this clause (h) shall not exceed $7,500,000 in any fiscal year; 

(j) the Borrower may (i) repurchase fractional shares of its Equity Interests arising out of stock dividends, splits or combinations,
business combinations or conversions of convertible securities, exercises of warrants or options, or settlements of restricted stock units or (ii) “net exercise” or “net share settle” warrants or options; 

(k) the receipt or acceptance by the Borrower or any Subsidiary of the return of Equity Interests issued by the Borrower or any Subsidiary to
the seller of a Person, business or division as consideration for the purchase of such Person, business or division, which return is in settlement of indemnification claims owed by such seller in connection with such acquisition; 

(l) the Borrower may make any payments of cash or deliveries in shares of Common Stock (or other securities or property following a merger
event, reclassification or other change of the Common Stock) (and cash in lieu of fractional shares) pursuant to the terms of, and otherwise perform its obligations under, any Permitted Convertible Indebtedness (including, without limitation, making
payments of interest and principal thereon, making payments due upon required repurchase thereof and/or making payments and deliveries upon conversion or settlement thereof); 

(m) to the extent constituting Restricted Payments, payments in connection with transfer pricing, cost plus or similar arrangements entered
into by the Borrower with its Subsidiaries in the ordinary course of business. 
 (n) distributions or payments of Securitization Fees; and

 (o) the Borrower may pay the premium in respect of, make any payments (of cash or deliveries in shares of Common Stock (or other
securities or property following a merger event, reclassification or other change of the Common Stock and cash in lieu of fractional shares)) required by, and otherwise perform its obligations under, any Permitted Call Spread Transaction, including
in connection with any settlement, unwind or termination thereof. 

  
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 Section 6.5 Restrictive Agreements. 

(a) The Borrower will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, enter into, incur or permit to
exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (A) the ability of the Borrower or any Restricted Subsidiary to create, incur or permit to exist any Lien upon any of its property or assets to
secure the Obligations or (B) the ability of any Restricted Subsidiary to pay dividends or other distributions with respect to any shares of its capital stock or to make or repay loans or advances to the Borrower or any other Restricted
Subsidiary or of any Restricted Subsidiary to Guarantee Indebtedness of the Borrower or any other Restricted Subsidiary under the Loan Documents; provided that (i) the foregoing shall not apply to restrictions and conditions imposed by
law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to restrictions and conditions existing on the Effective Date identified on Schedule 6.5 to the Disclosure Letter (and shall apply to any extension
or renewal of, or any amendment or modification materially expanding the scope of, any such restrictions or conditions taken as a whole), (iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating
to the sale of a Restricted Subsidiary or assets of the Borrower or any Restricted Subsidiary pending such sale; provided that such restrictions and conditions apply only to the Restricted Subsidiary or assets to be sold and such sale is not
prohibited hereunder, (iv) the foregoing shall not apply to any agreement or restriction or condition in effect at the time any Person becomes a Restricted Subsidiary, so long as such agreement was not entered into solely in contemplation of
such Person becoming a Restricted Subsidiary and such restrictions and conditions apply only to such Restricted Subsidiary, (v) the foregoing shall not apply to customary provisions in joint venture agreements and other similar agreements
applicable to Joint Ventures, (vi) clause (A) of the foregoing shall not apply to restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted to be incurred under Section 6.1(b) if such
restrictions or conditions apply only to the property or assets securing such Indebtedness, (vii) clause (A) of the foregoing shall not apply to customary provisions in leases, licenses, subleases and
sub-licenses and other contracts restricting the assignment thereof or restricting the grant of Liens in such lease, license, sub-lease,
sub-license or other contract, (viii) the foregoing shall not apply to restrictions or conditions set forth in any agreement governing any other Indebtedness not prohibited by Section 6.2;
provided that such restrictions and conditions are no more restrictive, taken as a whole, than those contained in this Agreement, (ix) the foregoing shall not apply to restrictions created in connection with any Securitization Facility
or Receivables Financing Transaction that, in the good faith determination of the Borrower, are necessary or advisable to effect such Securitization Facility or Receivables Financing Transaction and (x) the foregoing shall not apply to
restrictions on cash or other deposits (including escrowed funds) imposed under contracts entered into in the ordinary course of business. 

(b) The Borrower will not, and will not permit of any of its Restricted Subsidiaries to, (i) amend, restate, supplement, or otherwise
modify, any Material Agreement in a manner that is materially adverse to the Lenders, taken as a whole, or (ii) enter into any Material Agreement, in each case without the consent of the Required Lenders; provided, however, the
foregoing shall not prohibit the Borrower or any Restricted Subsidiary from entering into any Material Agreement with terms and conditions not materially less favorable to the Borrower and the Restricted Subsidiaries, taken as a whole, than the
terms and conditions of the Material Agreements in effect on the Effective Date. 
 Section 6.6 Transactions with Affiliates.
The Borrower will not, and will not permit any of its Restricted Subsidiaries to, sell, lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other
transactions with, any of its Affiliates (other than between or among the Borrower and its Restricted Subsidiaries and not involving any other Affiliate, or as otherwise permitted hereunder, including as a Permitted IP Transfer), except (a) on
terms and conditions not less favorable to the Borrower or such Restricted Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties as determined in good faith by the
independent directors of the Board of Directors (with respect to transactions with a consideration or amount in excess of $7,500,000), (b) payment of customary directors’ fees, customary out-of-pocket expense reimbursement, indemnities (including the provision of directors and officers insurance) and compensation arrangements for members of the board of directors, officers, employees or other
providers of services of the Borrower or any of its Restricted Subsidiaries, (c) any transaction involving amounts less than $500,000 individually or $5,000,000 in the aggregate in any fiscal year, (d) any Restricted Payment permitted by
Section 6.4, (e) any sale, lease, transfer or other disposition permitted by Section 6.3 and (f) after an IPO, any Investment permitted by Section 6.7. 

  
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 Section 6.7 Investments. No Loan Party shall, nor shall it permit any of its
Restricted Subsidiaries to, directly or indirectly, make or own any Investment in any Person, including any Joint Venture, except: 
 (a)
Investments in cash and Cash Equivalents and Marketable Securities; 
 (b) Investments (including intercompany loans) in the Borrower or any
other Loan Party; 
 (c) other Investments (including Investments in Subsidiaries that are not Loan Parties, Unrestricted Subsidiaries and
Joint Ventures); provided that, at the time any such Investment is made, such Investment does not exceed an aggregate amount equal to (i) the sum of (A) the amount by which Liquidity (determined on a Pro Forma Basis at the time of
(and after giving effect to) such Investments) exceeds $500,000,000 and (B) $25,000,000 (or after an IPO, the greater of (x) $100,000,000 and (y) 10% of Consolidated Total Assets of the Borrower and its Restricted Subsidiaries as of the last day of
the most recent fiscal quarter in respect of which financial statements have been delivered pursuant to Section 5.1(a) or (b) or Section 3.4(a) and calculated on a Pro Forma Basis), plus (ii) any return of
capital from previous Investments made under this clause (c)(i)(B), less (iii) any amounts previously utilized under this clause (c); provided, further, that (I) such Investment does not include any sale, disposition,
transfer or exclusive license of any Intellectual Property other than a Permitted IP Transfer and (II) such Investment shall be deemed to be incurred under clause (A) to the extent there is capacity thereunder and if any such Investment is
to be incurred under both clauses (A) and (B), it will be deemed to have been incurred first under clause (A) to the extent of the capacity thereunder and then any remaining amount shall be deemed incurred under clause (B); 

(d) Investments described in Schedule 6.7 to the Disclosure Letter; 

(e) Swap Agreements which constitute Investments; 

(f) trade receivables in the ordinary course of business; 

(g) guarantees to insurers required in connection with worker’s compensation and other insurance coverage arranged in the ordinary course
of business; 
 (h) Investments (including debt obligations) received in connection with the bankruptcy or reorganization of suppliers and
customers and in good faith settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of business; 

(i) intercompany Investments by any Subsidiary that is not a Loan Party in any other Subsidiary that is not a Loan Party; 

(j) lease, utility and other similar deposits in the ordinary course of business; 

(k) Investments of any Person in existence at the time such Person becomes a Restricted Subsidiary; provided such Investment was not
made in connection with or anticipation of such Person becoming a Restricted Subsidiary; 

  
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 (l) the purchase of any Permitted Call Spread Transaction by the Borrower and the
performance of its obligations thereunder; 
 (m) Investments in or relating to a Securitization Subsidiary that, in the good faith
determination of the Borrower, are necessary or advisable to effect any Securitization Facility (including distributions or payments of Securitization Fees) or any obligation in respect of a Standard Securitization -107- Undertaking in connection therewith (including the contribution or lending of cash equivalents to Subsidiaries to finance the purchase of such assets from the Borrower or any Restricted Subsidiary or to
otherwise fund required reserves); 
 (n) Investments in Unrestricted Subsidiaries, Joint Ventures and Restricted Subsidiaries that are not
Loan Parties; provided that, at the time any such Investment is made, such Investment does not exceed an aggregate amount equal to (i) the sum of (A) the amount by which Liquidity (determined on a pro forma basis at the time of (and after
giving effect to) such Investment) exceeds $500,000,000 and (B) $25,000,000 (or after an IPO, the greater of (x) $75,000,000 and (y) 7.5% of Consolidated Total Assets of the Borrower and its Restricted Subsidiaries as of the last day of the most
recent fiscal quarter in respect of which financial statements have been delivered pursuant to Section 5.1(a) or (b) or Section 3.4(a) and calculated on a Pro Forma Basis), plus (ii) any return of capital from previous
investments made under this clause (n), less (iii) any amounts previously utilized under this clause (o)(i)(B); provided, further, that (I) such Investment does not include any sale, disposition, transfer or exclusive license of any
Intellectual Property other than a Permitted IP Transfer and (II) such Investment shall be deemed to be incurred under clause (A) to the extent there is capacity thereunder and if any such Investment is to be incurred under both clauses (A) and (B),
it will be deemed to have been incurred first under clause (A) to the extent of the capacity thereunder and then any remaining amount shall be deemed incurred under clause (B); 

(o) any Investment by any Captive Insurance Subsidiary in connection with its provision of insurance to the Borrower or any of its
Subsidiaries, which Investment is made in the ordinary course of business or consistent with industry practice of such Captive Insurance Subsidiary, or by reason of applicable Law, rule, regulation or order, or that is required or approved by any
regulatory authority having jurisdiction over such Captive Insurance Subsidiary or its business, as applicable; 
 (p) (i) Investments made
as a result of the receipt of noncash consideration from any sale, transfer or other disposition of any asset in compliance with Section 6.3(b)(i) and (ii) to the extent constituting Investments, sales, transfers and other dispositions
permitted by Sections 6.3(b)(ix) and 6.3(b)(x); and 
 (q) Permitted Acquisitions. 

For purposes of covenant compliance with this Section 6.7, the amount of any Investment shall be the amount actually invested,
without adjustment for subsequent increases or decreases in the value of such Investment, less any amount paid, repaid, returned, distributed or otherwise received in cash in respect of such Investment. 

Section 6.8 Financial Covenant. The Borrower will not permit the aggregate amount of Liquidity, as of the last day of each
fiscal quarter, to be less than $250,000,000. 

  
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 Section 6.9 Certain Payments of Indebtedness; Amendments to Material Agreements. 

(a) The Borrower will not, and will not permit any of its Restricted Subsidiaries to, make or pay, directly or indirectly, any payment or other
distribution (whether in cash, securities or other property) of principal of or interest of any Junior Financing, or any payment or other distribution (whether in cash, securities or other property), including any sinking fund or similar deposit, on
account of the purchase, redemption, retirement, acquisition, cancellation or termination of any Junior Financing, except: 
 (i)
refinancings of Indebtedness to the extent permitted by Section 6.1; 
 (ii) payment of secured Indebtedness that becomes due as
a result of the voluntary sale or transfer of the property or assets securing such Indebtedness to the extent such sale or transfer is permitted by the terms of Section 6.3(b); 

(iii) so long as (i) no Default or Event of Default has occurred and is continuing or would result therefrom and (ii) the Borrower is in
compliance with the financial covenant set forth in Section 6.8 hereof on a Pro Forma Basis, an amount thereof not exceeding the sum of (x) the amount by which Liquidity (determined on a pro forma basis at the time of (and after
giving effect to) thereto) exceeds $500,000,000 plus (y) an amount of up to $10,000,000 (or after an IPO, $100,000,000) (less any amounts previously utilized under this clause (y)) in the aggregate during the term of this Agreement; provided that
such prepayments or other distributions utilizing this Section 6.9(a) shall be deemed to be incurred under clause (x) to the extent there is capacity thereunder and if any such prepayment or other distribution is to be incurred under both
clauses (x) and (y), it will be deemed to have been incurred first under clause (x) to the extent of the capacity thereunder and then any remaining amount shall be deemed incurred under clause (y); 

(iv) the Borrower may convert any convertible securities into Qualified Equity Interests pursuant to the terms of such convertible securities
or otherwise in exchange thereof; 
 (v) payment of regularly scheduled interest and principal payments as, in the form of payment and when
due in respect of any Indebtedness, other than payments in respect of any Junior Financing prohibited by the subordination provisions thereof; 

(vi) the repayment, prepayment, repurchase, redemption, acquisition, cancellation or termination of the Senior Notes; and 

(vii) payments in connection with transfer pricing, cost plus or similar arrangements entered into by the Borrower with its Subsidiaries in
the ordinary course of business. 
 (b) The Borrower will not, and will not permit any Restricted Subsidiary to, amend or modify any
documentation governing any Junior Financing, if as a result of such amendment or modification such Junior Financing has terms that would not have been permitted if incurred at the time such Junior Financing was initially incurred. 

  
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 ARTICLE VII 

GUARANTY 

Section 7.1 Guaranty of the Obligations. The Guarantors jointly and severally hereby irrevocably and unconditionally
guaranty the due and punctual payment in full of all Obligations when the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the
operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. §362(a)) (collectively, the “Guaranteed Obligations”); provided that the Guaranteed Obligations of the Borrower in its capacity as a
Guarantor shall exclude any Direct Borrower Obligations. 
 Section 7.2 Payment by Guarantors. The Guarantors hereby
jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right which any Beneficiary may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of the Borrower or any other
Guarantor to pay any of the Guaranteed Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise, Guarantors will upon demand pay, or cause to be paid, in
cash, to the Administrative Agent for the ratable benefit of the Beneficiaries, an amount equal to the sum of the unpaid principal amount of all Guaranteed Obligations then due as aforesaid, accrued and unpaid interest on such Guaranteed Obligations
(including interest which, but for the Borrower’s becoming the subject of a case under the Bankruptcy Code, would have accrued on such Guaranteed Obligations, whether or not a claim is allowed against the Borrower for such interest in the
related bankruptcy case) and all other Guaranteed Obligations then owed to the Beneficiaries as aforesaid. 
 Section 7.3
Liability of Guarantors Absolute. Each Guarantor agrees that its obligations hereunder are irrevocable, absolute, independent and unconditional and shall not be affected by any circumstance which constitutes a legal or equitable discharge of
a guarantor or surety other than payment in full of the Guaranteed Obligations. In furtherance of the foregoing and without limiting the generality thereof, each Guarantor agrees as follows: 

(a) this Guaranty is a guaranty of payment when due and not of collectability and this Guaranty is a primary obligation of each Guarantor and
not merely a contract of surety; 
 (b) the Administrative Agent may enforce this Guaranty during the continuation of an Event of Default
notwithstanding the existence of any dispute between the Borrower and any Beneficiary with respect to the existence of such Event of Default; 

(c) the obligations of each Guarantor hereunder are independent of the obligations of the Borrower and the obligations of any other guarantor
(including any other Guarantor) of the obligations of the Borrower, and a separate action or actions may be brought and prosecuted against such Guarantor whether or not any action is brought against the Borrower, any such other guarantor or any
other Person and whether or not the Borrower, any such other guarantor or any other Person is joined in any such action or actions; 
 (d)
payment by any Guarantor of a portion, but not all, of the Guaranteed Obligations shall in no way limit, affect, modify or abridge any Guarantor’s liability for any portion of the Guaranteed Obligations which has not been paid. Without limiting
the generality of the foregoing, if the Administrative Agent is awarded a judgment in any suit brought to enforce any Guarantor’s covenant to pay a portion of the Guaranteed Obligations, such judgment shall not be deemed to release such
Guarantor from its covenant to pay the portion of the Guaranteed Obligations that is not the subject of such suit, and such judgment shall not, except to the extent satisfied by such Guarantor, limit, affect, modify or abridge any other
Guarantor’s liability hereunder in respect of the Guaranteed Obligations; 

  
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 (e) any Beneficiary, upon such terms as it deems appropriate under the relevant Loan
Document, without notice or demand and without affecting the validity or enforceability hereof or giving rise to any reduction, limitation, impairment, discharge or termination of any Guarantor’s liability hereunder, from time to time may (i)
renew, extend, accelerate, increase the rate of interest on, or otherwise change the time, place, manner or terms of payment of the Guaranteed Obligations; (ii) settle, compromise, release or discharge, or accept or refuse any offer of performance
with respect to, or substitutions for, the Guaranteed Obligations or any agreement relating thereto and/or subordinate the payment of the same to the payment of any other obligations; (iii) request and accept other guaranties of the Guaranteed
Obligations and take and hold security for the payment hereof or the Guaranteed Obligations; (iv) release, surrender, exchange, substitute, compromise, settle, rescind, waive, alter, subordinate or modify, with or without consideration, any security
for payment of the Guaranteed Obligations, any other guaranties of the Guaranteed Obligations, or any other obligation of any Person (including any other Guarantor) with respect to the Guaranteed Obligations; (v) enforce and apply any security now
or hereafter held by or for the benefit of such Beneficiary in respect hereof or the Guaranteed Obligations and direct the order or manner of sale thereof, or exercise any other right or remedy that such Beneficiary may have against any such
security, in each case as such Beneficiary in its discretion may determine consistent herewith and any applicable security agreement, including foreclosure on any such security pursuant to one or more judicial or nonjudicial sales, whether or not
every aspect of any such sale is commercially reasonable, and even though such action operates to impair or extinguish any right of reimbursement or subrogation or other right or remedy of any Guarantor against any other Loan Party or any security
for the Guaranteed Obligations; and (vi) exercise any other rights available to it under the Loan Documents; and 
 (f) this Guaranty and the
obligations of the Guarantors hereunder shall be valid and enforceable and shall not be subject to any reduction, limitation, impairment, discharge or termination for any reason (other than payment in full of the Guaranteed Obligations (other than
contingent indemnification obligations for which no claim has been made) and the cancellation or expiration or cash collateralization of all Letters of Credit in an amount equal to 103% of Letter of Credit Usage at such time on terms satisfactory to
the applicable Issuing Banks), including the occurrence of any of the following, whether or not any Guarantor shall have had notice or knowledge of any of them: (i) any failure or omission to assert or enforce or agreement or election not to assert
or enforce, or the stay or enjoining, by order of court, by operation of law or otherwise, of the exercise or enforcement of, any claim or demand or any right, power or remedy (whether arising under the Loan Documents, at law, in equity or
otherwise) with respect to the Guaranteed Obligations or any agreement relating thereto, or with respect to any other guaranty of or security for the payment of the Guaranteed Obligations; (ii) any rescission, waiver, amendment or modification of,
or any consent to departure from, any of the terms or provisions (including provisions relating to events of default) hereof, any of the other Loan Documents or any agreement or instrument executed pursuant thereto, or of any other guaranty or
security for the Guaranteed Obligations, in each case whether or not in accordance with the terms hereof or such Loan Document or any agreement relating to such other guaranty or security; (iii) the Guaranteed Obligations, or any agreement relating
thereto, at any time being found to be illegal, invalid or unenforceable in any respect; (iv) the application of payments received from any source (other than payments received pursuant to the other Loan Documents or from the proceeds of any
security for the Guaranteed Obligations, except to the extent such security also serves as collateral for indebtedness other than the Guaranteed Obligations) to the payment of indebtedness other than the Guaranteed Obligations, even though any
Beneficiary might have elected to apply such payment to any part or all of the Guaranteed Obligations; (v) the change, reorganization or termination of the corporate structure or existence of the Borrower or any of its Restricted Subsidiaries and to
any corresponding restructuring of the Guaranteed Obligations, whether or not consented to by any Beneficiary; (vi) any failure to perfect or continue perfection of a security interest in any collateral which secures any of the Guaranteed
Obligations; (vii) any defenses, set offs or counterclaims which the Borrower or any other Person may allege or assert against any Beneficiary in respect of the Guaranteed Obligations, including failure of consideration, breach of warranty, payment,
statute of frauds, accord and satisfaction and usury; and (viii) any other act or thing or omission, or delay to do any other act or thing, which may or might in any manner or to any extent vary the risk of any Guarantor as an obligor in respect of
the Guaranteed Obligations. 

  
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 Anything contained in this Agreement to the contrary notwithstanding, the obligations of
each Guarantor in respect of its Guaranty shall be limited to an aggregate amount equal to the largest amount that would not render its obligations under this Agreement subject to avoidance as a fraudulent transfer or conveyance under
Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any similar federal or state law; provided, however, that this limitation shall not apply to the Borrower with respect to its Direct Borrower
Obligations. 
 Section 7.4 Waivers by Guarantors. Each Guarantor hereby waives, for the benefit of the Beneficiaries:
(a) any right to require any Beneficiary, as a condition of payment or performance by such Guarantor, to (1) proceed against the Borrower, any other guarantor (including any other Guarantor) of the Guaranteed Obligations or any other Person, (2)
proceed against or exhaust any security held from the Borrower, any such other guarantor or any other Person, (3) proceed against or have resort to any balance of any deposit account or credit on the books of any Beneficiary in favor of any Loan
Party or any other Person, or (4) pursue any other remedy in the power of any Beneficiary whatsoever; (b) any defense arising by reason of the incapacity, lack of authority or any disability or other defense of the Borrower or any other Guarantor
including any defense based on or arising out of the lack of validity or the unenforceability of the Guaranteed Obligations or any agreement or instrument relating thereto or by reason of the cessation of the liability of the Borrower or any other
Guarantor from any cause other than payment in full of the Guaranteed Obligations; (c) any defense based upon any statute or rule of law which provides that the obligation of a surety must be neither larger in amount nor in other respects more
burdensome than that of the principal; (d) any defense based upon any Beneficiary’s errors or omissions in the administration of the Guaranteed Obligations, except behavior which amounts to bad faith, gross negligence or willful misconduct; (e)
(i) any principles or provisions of law, statutory or otherwise, which are or might be in conflict with the terms hereof and any legal or equitable discharge of such Guarantor’s obligations hereunder, (ii) any rights to set offs, recoupments
and counterclaims, (iii) promptness, diligence and any requirement that any Beneficiary protect, secure, perfect or insure any security interest or lien or any property subject thereto, and (iv) notices, demands, presentments, protests, notices of
protest, notices of dishonor and notices of any action or inaction, including acceptance hereof, notices of default hereunder or any agreement or instrument related thereto, notices of any renewal, extension or modification of the Guaranteed
Obligations or any agreement related thereto, notices of any extension of credit to the Borrower and notices of any of the matters referred to in Section 7.3 and any right to consent to any thereof; and (f) any defenses or benefits that may
be derived from or afforded by law which limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms hereof, in each case other than the indefeasible payment in full of the Guaranteed Obligations. 

  
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 Section 7.5 Guarantors’ Rights of Subrogation, Contribution, Etc.
Until the Guaranteed Obligations shall have been paid in full (other than contingent indemnification obligations for which no claim has been made) and the Commitments shall have terminated, each Guarantor hereby waives any claim, right or remedy,
direct or indirect, that such Guarantor now has or may hereafter have against the Borrower or any other Guarantor or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case
whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including, (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against
the Borrower with respect to the Guaranteed Obligations, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against the Borrower, and (iii) any benefit of, and any right to
participate in, any collateral or security now or hereafter held by any Beneficiary. In addition, until the Guaranteed Obligations shall have been paid in full (other than contingent indemnification obligations for which no claim has been made) and
all Letters of Credit shall have expired or been cancelled or cash collateralized in an amount equal to 103% of Letter of Credit Usage at such time on terms satisfactory to the applicable Issuing Banks and the Commitments shall have terminated, each
Guarantor shall withhold exercise of any right of contribution such Guarantor may have against any other guarantor (including any other Guarantor) of the Guaranteed Obligations. Each Guarantor further agrees that, to the extent the waiver or
agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation,
reimbursement or indemnification such Guarantor may have against the Borrower or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any
rights any Beneficiary may have against the Borrower, to all right, title and interest any Beneficiary may have in any such collateral or security, and to any right any Beneficiary may have against such other guarantor. If any amount shall be paid
to any Guarantor on account of any such subrogation, reimbursement, indemnification or contribution rights at any time when all Guaranteed Obligations (other than contingent indemnification obligations for which no claim has been made) shall not
have been paid in full, such amount shall be held in trust for the Administrative Agent on behalf of the Beneficiaries and shall forthwith be paid over to the Administrative Agent for the benefit of the Beneficiaries to be credited and applied
against the Guaranteed Obligations, whether matured or unmatured, in accordance with the terms hereof. 
 Section 7.6
Subordination of Other Obligations. Any Indebtedness of the Borrower or any Guarantor now or hereafter held by any Guarantor (the “Obligee Guarantor”) is hereby subordinated in right of payment to the Guaranteed Obligations,
and any such Indebtedness collected or received by the Obligee Guarantor after an Event of Default has occurred and is continuing shall be held in trust for the Administrative Agent on behalf of the Beneficiaries and shall forthwith be paid over to
the Administrative Agent for the benefit of the Beneficiaries to be credited and applied against the Guaranteed Obligations but without affecting, impairing or limiting in any manner the liability of the Obligee Guarantor under any other provision
hereof. 
 Section 7.7 Continuing Guaranty. This Guaranty is a continuing guaranty and shall remain in effect until all
of the Guaranteed Obligations (other than contingent indemnification obligations for which no claim has been made) shall have been paid in full and the Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled
or cash collateralized in an amount equal to 103% of Letter of Credit Usage at such time on terms satisfactory to the applicable Issuing Banks. Each Guarantor hereby irrevocably waives any right to revoke this Guaranty as to future transactions
giving rise to any Guaranteed Obligations. 
 Section 7.8 Authority of Guarantors or the Borrower. It is not necessary
for any Beneficiary to inquire into the capacity or powers of any Guarantor or the Borrower or the officers, directors or any agents acting or purporting to act on behalf of any of them. 

Section 7.9 Financial Condition of the Borrower. Any Loan may be made to the Borrower or continued from time to time, in
each case without notice to or authorization from any Guarantor regardless of the financial or other condition of the Borrower or any other Loan Party at the time of any such grant or continuation, as the case may be. No Beneficiary shall have any
obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor’s assessment, of the financial condition of the Borrower or any other Loan Party. Each Guarantor has adequate means to obtain information from the Borrower
and the other Loan Parties on a continuing basis concerning the financial condition of the Borrower and the other Loan Parties and their respective ability to perform their obligations under the Loan Documents, and each Guarantor assumes the
responsibility for being and keeping informed of the financial condition of the Borrower and each other Loan Party and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations. Each Guarantor hereby waives and
relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to the business, operations or conditions of the Borrower or any other Loan Party now known or hereafter known by any Beneficiary. 

  
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 Section 7.10 Bankruptcy, Etc. (a) So long as any Guaranteed Obligations
remain outstanding, no Guarantor shall, without the prior written consent of the Administrative Agent acting pursuant to the instructions of Required Lenders, commence or join with any other Person in commencing any bankruptcy, reorganization or
insolvency case or proceeding of or against the Borrower or any other Loan Party. The obligations of the Guarantors hereunder shall not be reduced, limited, impaired, discharged, deferred, suspended or terminated by any case or proceeding, voluntary
or involuntary, involving the bankruptcy, insolvency, receivership, reorganization, liquidation or arrangement of the Borrower or any other Loan Party or by any defense which the Borrower or any other Loan Party may have by reason of the order,
decree or decision of any court or administrative body resulting from any such proceeding. 
 (b) Each Guarantor acknowledges and agrees that
any interest on any portion of the Guaranteed Obligations which accrues after the commencement of any case or proceeding referred to in clause (a) above (or, if interest on any portion of the Guaranteed Obligations ceases to accrue by operation of
law by reason of the commencement of such case or proceeding, such interest as would have accrued on such portion of the Guaranteed Obligations if such case or proceeding had not been commenced) shall be included in the Guaranteed Obligations
because it is the intention of Guarantors and the Beneficiaries that the Guaranteed Obligations which are guaranteed by Guarantors pursuant hereto should be determined without regard to any rule of law or order which may relieve the Borrower or any
other Loan Party of any portion of such Guaranteed Obligations. Guarantors will permit any trustee in bankruptcy, receiver, debtor in possession, assignee for the benefit of creditors or similar Person to pay the Administrative Agent, or allow the
claim of the Administrative Agent in respect of, any such interest accruing after the date on which such case or proceeding is commenced. 

(c) In the event that all or any portion of the Guaranteed Obligations are paid by the Borrower or any Subsidiary, the obligations of
Guarantors hereunder shall continue and remain in full force and effect or be reinstated, as the case may be, in the event that all or any part of such payments) are rescinded or recovered directly or indirectly from any Beneficiary as a preference,
fraudulent transfer or otherwise, and any such payments which are so rescinded or recovered shall constitute Guaranteed Obligations for all purposes hereunder. 

ARTICLE VIII 
 EVENTS OF
DEFAULT 
 If any of the following events (each, an “Event of Default”) shall occur: 

(a) the Borrower shall fail to pay any principal of any Loan when and as the same shall become due and payable or any amount due and payable to
any Issuing Bank in reimbursement of any drawing under any Letter of Credit, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise; 

(b) the Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in clause (a) of
this Article) payable under any of the Loan Documents, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five Business Days; 

  
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 (c) any representation or warranty made or deemed made by or on behalf of the Borrower or
any Restricted Subsidiary in or in connection with this Agreement or any other Loan Document or any amendment or modification hereof or thereof or waiver hereunder or thereunder, or in any certificate furnished pursuant to or in connection with this
Agreement, any other Loan Document or any amendment or modification hereof or thereof or waiver hereunder or thereunder, shall prove to have been incorrect in any material respect when made or deemed made; 

(d) any Loan Party shall fail to observe or perform any covenant, condition or agreement contained in Section 5.2, Section 5.3
(solely with respect to the Borrower’s existence), Section 5.9, or in Article VI; 
 (e) any Loan Party shall fail to
observe or perform any covenant, condition or agreement contained in any of the Loan Documents (other than those specified in clause (a), (b) or (d) of this Article), and such failure shall continue unremedied for a period of 30 days after notice
thereof from the Administrative Agent to the Borrower (which notice will be given at the request of any Lender); 
 (f) the Borrower or any
Restricted Subsidiary shall fail to make any payment (whether of principal or interest and regardless of amount) in respect of any Material Indebtedness, when and as the same shall become due and payable (whether by scheduled maturity, required
prepayment, acceleration, demand, or otherwise) and such failure shall have continued after the applicable grace period, if any; 
 (g) after
giving effect to any grace period, the Borrower or any Restricted Subsidiary fails to observe or perform any term, covenant, condition or agreement contained in any agreement or instrument evidencing or governing any Material Indebtedness (other
than as described in clause (f) above), if the failure referred to in this clause (g) causes, or permits the holder or holders of such Material Indebtedness or a trustee or other representative on its or their behalf (with or without the giving of
notice, the lapse of time or both) to cause, such Material Indebtedness to become due prior to its stated maturity (or in the case of any such Indebtedness constituting a Guarantee in respect of Indebtedness to become payable) or become subject to a
mandatory offer purchase by the obligor; 
 (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed
seeking (i) liquidation, reorganization or other relief in respect of the Borrower or any Restricted Subsidiary or its debts, or of a substantial part of its assets, under any Debtor Relief Law or (ii) the appointment of a receiver, trustee,
custodian, sequestrator, conservator or similar official for the Borrower or any Restricted Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed for 60 days or an order or
decree approving or ordering any of the foregoing shall be entered; 
 (i) the Borrower or any Restricted Subsidiary shall (i) voluntarily
commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Debtor Relief Law, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition
described in clause (h) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Restricted Subsidiary or for a substantial part of
its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action for the purpose of effecting any of the
foregoing; 
 (j) the Borrower or any Restricted Subsidiary shall become unable and admit in writing its inability or fail generally to pay
its debts as they become due; 

  
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 (k) (i) one or more judgments for the payment of money in excess of $50,000,000 in the
aggregate, to the extent not adequately covered by insurance as to which a solvent and unaffiliated insurance company has acknowledged coverage, shall be rendered against the Borrower, any Restricted Subsidiary or any combination thereof (to the
extent not paid or covered by a reputable and solvent independent third-party insurance company which has not disputed coverage) and the same shall remain undischarged for a period of 30 consecutive days during which execution shall not be
effectively stayed (or an action of similar effect in any jurisdiction outside the U.S.), or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Borrower or any Restricted Subsidiary to enforce any such
judgment and such action shall not be stayed (or an action of similar effect in any jurisdiction outside the U.S.) or (ii) any non-monetary judgment, writ or warrant of attachment or similar
process shall be entered or filed against the Borrower or any Restricted Subsidiary or any combination thereof or any of their respective assets and shall remain undischarged, unvacated, unbonded or unstayed (or an action of similar effect in any
jurisdiction outside the U.S.) for a period of 90 consecutive days and such non-monetary judgment, writ, warrant of attachment or similar process would reasonably be expected to have a Material Adverse Effect;

 (l) one or more ERISA Events shall have occurred that would reasonably be expected to result in a Material Adverse Effect; 

(m) a Change in Control shall occur; 

(n) any Lien purported to be created under any Security Document shall cease to be, or shall be asserted by any Loan Party not to be, a valid
and perfected Lien on any Collateral, with the priority required by the applicable Security Document, except as a result of (i) a sale or transfer of the applicable Collateral in a transaction permitted under the Loan Documents, (ii) the release
thereof as provided in the applicable Security Document or Section 10.17 or (iii) as a result of the Administrative Agent’s failure to (A) maintain possession of any stock certificate, promissory note or other instrument delivered to it
under the Collateral Agreement or (B) file Uniform Commercial Code continuation statements; and 
 (o) any Loan Document, at any time after
its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the obligations hereunder or thereunder, ceases to be in full force and effect; or any Loan Party contests in any
manner the validity or enforceability of any Loan Document; then, and in every such event (other than an event with respect to the Borrower described in clause (h) or (i) of this Article), and at any time thereafter during the continuance of such
event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Borrower, take any or all of the following actions, at the same or different times: (i) terminate the Commitments and the obligation of the
Issuing Banks to issue any Letters of Credit, and thereupon the Commitments and such obligations shall terminate immediately, (ii) direct the Borrower to pay (and the Borrower hereby agrees upon receipt of such notice, or upon the occurrence of any
Event of Default specified in Article VIII(h) or (i) to pay) to the Administrative Agent such additional amounts of cash as are reasonably requested by the applicable Issuing Banks, to be held as security for the Borrower’s
reimbursement Obligations in respect of Letters of Credit then outstanding as set forth in Section 2.4(j) and (iii) declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to
be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrower accrued
hereunder (including any amounts required to be deposited in respect of Letters of Credit pursuant to Section 2.4(j)), shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which
are hereby waived by the Borrower; and in case of any event with respect to the Borrower described in clause (h) or (i) of this Article, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with
accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the
Borrower. 

  
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 In addition to any other rights and remedies granted to the Administrative Agent, the Issuing Banks and the
Lenders in the Loan Documents, the Administrative Agent, on behalf of the Issuing Banks, the Lenders and the other Secured Parties, may exercise all rights and remedies of a secured party under the Uniform Commercial Code or any other applicable
law. Without limiting the generality of the foregoing, the Administrative Agent, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except any notice required by law referred to below) to or
upon any Loan Party or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof,
or consent to the use by any Loan Party of any cash collateral arising in respect of the Collateral on such terms as the Administrative Agent deems reasonable, and/or may forthwith sell, lease, assign, given an option or options to purchase or
otherwise dispose of and deliver, or acquire by credit bid on behalf of the Issuing Banks, the Lenders and the other Secured Parties, the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or
private sale or sales, at any exchange, broker’s board or office of the Administrative Agent, any Issuing Bank, any Lender or elsewhere, upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or
on credit or for future delivery, all without assumption of any credit risk. The Administrative Agent, any Issuing Bank, any Lender and any other Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by
law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption in any Loan Party, which right or equity is hereby waived and released. Each Loan Party further agrees,
at the Administrative Agent’s request, to assemble the Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Loan Party’s premises or elsewhere. The
Administrative Agent shall apply the net proceeds of any action taken by it pursuant to this paragraph, after deducting all reasonable costs and expenses of every kind incurred in connection therewith or incidental to the care or safekeeping of any
of the Collateral or in any other way relating to the Collateral or the rights of the Administrative Agent, the Issuing Banks and the Lenders hereunder, including reasonable attorneys’ fees and disbursements, to the payment in whole or in part
of the obligations of the Loan Parties under the Loan Documents, in such order as the Administrative Agent may elect, and only after such application and after the payment by the Administrative Agent of any other amount required by any provision of
law, including Section 9-615(a)(3) of the Uniform Commercial Code, need the Administrative Agent account for the surplus, if any, to any Loan Party. To the extent permitted by applicable law, each Loan
Party waives all claims, damages and demands it may acquire against the Administrative Agent or any Lender arising out of the exercise by them of any rights hereunder, absent gross negligence or willful misconduct (as determined by a final, non-appealable judgment of a court of competent jurisdiction). If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and proper if given
at least 10 days before such sale or other disposition. 
 ARTICLE IX 

THE ADMINISTRATIVE AGENT 

Each of the Lenders and Issuing Banks hereby irrevocably appoints JPMCB as the Administrative Agent (and JPMCB hereby accepts such
appointment) and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof, together with such actions and powers as are reasonably incidental
thereto. Except, in each case, as set forth in the sixth and twelfth paragraphs of this Article, the provisions of this Article are solely for the benefit of the Administrative Agent and the Lenders, and no Loan Party shall have rights as a third
party beneficiary of any of such provisions. Each Lender, whether or not a party hereto, will be deemed, by its acceptance of the benefits of the Guarantees of the Obligations provided under the Loan Documents, to have agreed to the provisions of
this Article. 

  
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 The Person serving as the Administrative Agent hereunder shall have the same rights and
powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context
otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to and generally engage in any kind of banking, trust or other
business with the Borrower or any Subsidiary or other Affiliate thereof as if it were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders or the Issuing Banks. 

The Administrative Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents.
Without limiting the generality of the foregoing, the Administrative Agent: (a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) shall not have any duty to
take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise in writing as directed by
the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 10.2 or in the other Loan Documents); provided that the Administrative
Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt any
action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law, and (c) shall not, except
as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by
the Person serving as Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such
other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 10.2) or (ii) in the absence of its own gross negligence or willful misconduct (as determined by a court of
competent jurisdiction in a final and non-appealable decision). The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to the
Administrative Agent by the Borrower or a Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with this Agreement
or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or in connection herewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions
set forth herein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document (including, for the avoidance of doubt,
in connection with the Administrative Agent’s reliance on any Electronic Signature transmitted by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page), (v) the satisfaction of any
condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent or (vi) the creation, perfection or priority of Liens on the Collateral. Nothing
in this Agreement shall require the Administrative Agent to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers if it shall have
reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. Notwithstanding anything herein to the contrary, the Administrative Agent shall not be liable for, or
be responsible for any Liabilities, costs or expenses suffered by the Borrower, any Subsidiary, any Lender or any Issuing Bank as a result of, any determination of any Dollar Equivalent. 

  
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 The Administrative Agent shall be entitled to rely upon, and shall not incur any liability
for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have
been signed or sent by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person, and shall not incur any liability for relying thereon. In
determining compliance with any condition hereunder to the making of a Loan, that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the
Administrative Agent shall have received notice to the contrary from such Lender prior to the making of such Loan. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other
experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

The Administrative Agent may perform any and all of its duties and exercise its rights and powers by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers through
their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. 

The Administrative Agent shall have the right to resign at any time by giving prior written notice thereof to the Lenders and the Borrower.
The Administrative Agent shall have the right to appoint a financial institution to act as the Administrative Agent hereunder, subject to the reasonable satisfaction of the Borrower and the Required Lenders, and the Administrative Agent’s
resignation shall become effective on the earliest of (i) 30 days after delivery of the notice of resignation, (ii) the acceptance of such successor Administrative Agent by the Borrower and the Required Lenders or (iii) such other date, if
any, agreed to by the Borrower and the Required Lenders. Upon any such notice of resignation, if a successor Administrative Agent has not already been appointed by the retiring Administrative Agent, the Required Lenders shall have the right, in
consultation with the Borrower, to appoint a successor Administrative Agent. If neither the Required Lenders nor the Administrative Agent have appointed a successor Administrative Agent, the Required Lenders shall be deemed to have succeeded to and
become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent. Any successor Administrative Agent shall be a bank with an office in the United States or an Affiliate of any such bank with an office in the
United States. Upon the acceptance of any appointment as Administrative Agent hereunder by a successor Administrative Agent, that successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and
duties of the retiring Administrative Agent and the retiring Administrative Agent shall promptly transfer to such successor Administrative Agent all records and other documents necessary or appropriate in connection with the performance of the
duties of the successor Administrative Agent under the Loan Documents, whereupon such retiring Administrative Agent shall be discharged from its duties and obligations hereunder; provided that, solely for purposes of maintaining any security
interest granted to the Administrative Agent under any Security Document for the benefit of the Secured Parties, the retiring Administrative Agent shall continue to be vested with such security interest as collateral agent for the benefit of the
Secured Parties, and continue to be entitled to the rights set forth in such Security Document and the other Loan Documents, and, in the case of any Collateral in the possession of the Administrative Agent, shall continue to hold such Collateral, in
each case until such time as a successor Administrative Agent is appointed and accepts such appointment in accordance with this paragraph (it being understood and agreed that the retiring Administrative Agent shall have no duty or obligation to take
any further action under any Security Document, including any action required to maintain the perfection of any such security interest). After any retiring Administrative Agent’s resignation hereunder as Administrative Agent, the provisions of
this Article IX shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Administrative Agent hereunder. 

  
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 Any resignation of JPMCB or its successor as the Administrative Agent pursuant to this
Article IX shall also constitute the resignation of JPMCB or its successor as Swing Line Lender and Issuing Bank, and any successor Administrative Agent appointed pursuant to this Section shall, upon its acceptance of such appointment, become
successor Swing Line Lender and Issuing Bank for all purposes hereunder. In such event (i) the Borrower shall prepay any outstanding Swing Line Loans made by the retiring Administrative Agent in its capacity as Swing Line Lender, (ii) upon
such prepayment, the retiring Administrative Agent and Swing Line Lender shall surrender any Swing Line Note held by it to the Borrower for cancellation, and (iii) the Borrower shall issue, if so requested by successor Administrative Agent and
Swing Line Lender, a new Swing Line Note to the successor Administrative Agent and Swing Line Lender, in the principal amount of the Swing Line Sublimit then in effect and with other appropriate insertions. After such resignation of JPMCB as an
Issuing Bank hereunder, JPMCB shall remain a party hereto to the extent that Letters of Credit issued by it remain outstanding and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters
of Credit issued by it prior to such resignation, but shall not be required to issue additional Letters of Credit. 
 Each Lender and each
Issuing Bank represents and warrants as of the date it becomes a Lender or Issuing Bank that (i) it is such Lender’s or Issuing Bank’s intention that the Loan Documents set forth the terms of a commercial lending facility,
(ii) it is engaged in making, acquiring or holding commercial loans and in providing other facilities set forth herein as may be applicable to such Lender or Issuing Bank, in each case in the ordinary course of business, and not for the purpose
of purchasing, acquiring or holding any other type of financial instrument (and each Lender and each Issuing Bank agrees not to assert a claim in contravention of the foregoing), (iii) it has, independently and without reliance upon the
Administrative Agent, any Arranger, or any other Lender or Issuing Bank, or any of the Related Parties of any of the foregoing, and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to
enter into this Agreement as a Lender, and to make, acquire or hold Loans hereunder and (iv) it is sophisticated with respect to decisions to make, acquire and/or hold commercial loans and to provide other facilities set forth herein, as may be
applicable to such Lender or such Issuing Bank, and either it, or the Person exercising discretion in making its decision to make, acquire and/or hold such commercial loans or to provide such other facilities, is experienced in making, acquiring or
holding such commercial loans or providing such other facilities. Each Lender and each Issuing Bank also acknowledges that it will, independently and without reliance upon the Administrative Agent, any Arranger or any other Lender or Issuing Bank,
or any of the Related Parties of any of the foregoing, and based on such documents and information (which may contain material, non-public information within the meaning of the United States securities laws
concerning the Borrower and its Affiliates) as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any
document furnished hereunder or thereunder. 
 Anything herein to the contrary notwithstanding, no Arranger shall have any powers, duties or
responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent or a Lender hereunder. 

  
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 Subject to Section 10.2, without further written consent or
authorization from any Lender, the Administrative Agent may execute any documents or instruments necessary to release any Guarantor from the Guaranty pursuant to Section 10.17 or with respect to which Required Lenders (or
such other Lenders as may be required to give such consent under Section 10.2) have otherwise consented. 

Anything contained in any of the Loan Documents to the contrary notwithstanding, each Loan Party, the Administrative Agent and each Lender
hereby agree that no Lender shall have any right individually to -121- enforce the Guaranty, it being understood and agreed that all powers, rights and remedies
hereunder may be exercised solely by the Administrative Agent, on behalf of the Lenders in accordance with the terms hereof. 

Notwithstanding anything to the contrary contained herein or any other Loan Document, when all Obligations (other than contingent
indemnification obligations for which no claim has been made) have been paid in full, all Commitments have terminated or expired and all Letters of Credit shall have terminated or expired without any pending drawing thereon (or the outstanding
Letters of Credit have been cash collateralized in an amount equal to 103% of all Letter of Credit Usage at such time in a manner satisfactory to the applicable Issuing Banks), upon request of the Borrower, the Administrative Agent shall (without
notice to, or vote or consent of, any Lender) take such actions as shall be required to release all Guaranties provided for in any Loan Document. Any such release of any Guaranty shall be deemed subject to the provision that such Guaranty shall be
reinstated if after such release any portion of any payment in respect of the Obligations guaranteed thereby shall be rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of
the Borrower or any Guarantor, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, the Borrower or any Guarantor or any substantial part of its property, or otherwise, all as
though such payment had not been made. 
 Each Lender (x) represents and warrants, as of the date such Person became a Lender party
hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, the Arrangers and their respective Affiliates, and
not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the following is and will be true: (i) such Lender is not using “plan assets” (within the meaning of the Plan Asset
Regulations) of one or more Benefit Plans in connection with the Loans, the Letters of Credit or the Commitments, (ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class
exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank
collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such
Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, (iii) (A) such Lender is an investment fund managed by a “Qualified Professional
Asset Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer
and perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the
requirements of subsections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or (iv) such
other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Lender. 

  
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 In addition, unless sub-clause (i) in the
immediately preceding paragraph is true with respect to a Lender or such Lender has not provided another representation, warranty and covenant as provided in sub-clause (iv) in the immediately preceding
paragraph, such Lender further (x) represents and warrants, as of the -122- date such Person became a Lender party hereto, to, and (y) covenants, from the date
such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, the Arrangers and their respective Affiliates, and not, for the avoidance of doubt, to or for the
benefit of the Borrower or any other Loan Party, that neither the Administrative Agent, nor any Arranger or any of their respective Affiliates is a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into,
participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any
Loan Document or any documents related to hereto or thereto). 
 Each Lender (which term shall for the purposes of this and the succeeding
paragraphs of this Article IX include the Issuing Banks) hereby agrees that (x) if the Administrative Agent notifies such Lender that the Administrative Agent has determined in its sole discretion that any funds received by such Lender
from the Administrative Agent or any of its Affiliates (whether as a payment, prepayment or repayment of principal, interest, fees or otherwise; individually and collectively, a “Payment”) were erroneously transmitted to such Lender
(whether or not known to such Lender), and demands the return of such Payment (or a portion thereof), such Lender shall promptly, but in no event later than one Business Day thereafter, return to the Administrative Agent the amount of any such
Payment (or portion thereof) as to which such a demand was made in same day funds, together with interest thereon in respect of each day from and including the date such Payment (or portion thereof) was received by such Lender to the date such
amount is repaid to the Administrative Agent at the greater of the NYFRB Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect, and (y) to the
extent permitted by applicable law, such Lender shall not assert, and hereby waives, as to the Administrative Agent, any claim, counterclaim, defense or right of set-off or recoupment with respect to any
demand, claim or counterclaim by the Administrative Agent for the return of any Payments received, including without limitation any defense based on “discharge for value” or any similar doctrine. A notice of the Administrative Agent to any
Lender under this paragraph shall be conclusive, absent manifest error. 
 Each Lender hereby further agrees that if it receives a Payment
from the Administrative Agent or any of its Affiliates (x) that is in a different amount than, or on a different date from, that specified in a notice of payment sent by the Administrative Agent (or any of its Affiliates) with respect to such
Payment (a “Payment Notice”) or (y) that was not preceded or accompanied by a Payment Notice, it shall be on notice, in each such case, that an error has been made with respect to such Payment. Each Lender agrees that, in each
such case, or if it otherwise becomes aware a Payment (or portion thereof) may have been sent in error, such Lender shall promptly notify the Administrative Agent of such occurrence and, upon demand from the Administrative Agent, it shall promptly,
but in no event later than one Business Day thereafter, return to the Administrative Agent the amount of any such Payment (or portion thereof) as to which such a demand was made in same day funds, together with interest thereon in respect of each
day from and including the date such Payment (or portion thereof) was received by such Lender to the date such amount is repaid to the Administrative Agent at the greater of the NYFRB Rate and a rate determined by the Administrative Agent in
accordance with banking industry rules on interbank compensation from time to time in effect. 
 The Borrower and each other Loan Party
hereby agrees that (x) in the event an erroneous Payment (or portion thereof) is not recovered from any Lender that has received such Payment (or portion thereof) for any reason, the Administrative Agent shall be subrogated to all the rights of
such Lender with respect to such amount and (y) an erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any Obligations owed by the Borrower or any other Loan Party except, in each case, to the extent such erroneous
Payment is, and solely with respect to the amount of such erroneous Payment that is, comprised of funds received by the Administrative Agent from the Borrower or any other Loan Party for the purpose of satisfying Obligations or from the proceeds of
Collateral. 

  
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 Each party’s obligations under this paragraph shall survive the resignation or
replacement of the Administrative Agent or any transfer of rights or obligations by, or the replacement of, a Lender, the termination of the Commitments or the repayment, satisfaction or discharge of all Obligations under any Loan Document. 

ARTICLE X 
 MISCELLANEOUS

 Section 10.1 Notices. (a) Except in the case of notices and other communications expressly permitted to be given by
telephone (and subject to paragraph (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy
(or other facsimile transmission or, subject to clause (b) below, other electronic image scan transmission (e.g., email)), as follows: 

(i) if to the Borrower, to it at Toast, Inc., 401 Park Drive, Suite 801, Boston, MA 02215, Attention: Jennifer DiRico (email:
jdirico@toast.com) and Brian Elworthy (email: belworthy@toasttab.com) with a copy to Goodwin Procter LLP, Attention: Anna Dodson, Esq., 100 Northern Avenue, Boston, MA 02210, (email: adodson@goodwinlaw.com); 

(ii) if to the Administrative Agent, to it at JPMorgan Chase Bank, N.A., 10 South Dearborn, Floor L2, Suite IL
1-1145, Chicago, Illinois 60603-2300, Attention: JPMorgan Loan Services (email: jpm.agency.servicing.l@jpmorgan.com) with a copy to JPMorgan Chase Bank, N.A., 237 Park Ave, 6th Floor, New York, New York 10016,
Attention: Ting Ting Liu (email: tingting.liu@jpmorgan.com); 
 (iii) if to the Swing Line Lender, to it at JPMorgan Chase Bank, N.A., 10
South Dearborn, Floor L2, Suite IL 1-1145, Chicago, Illinois 60603-2300, Attention: JPMorgan Loan Services (email: jpm.agency.servicing.l@jpmorgan.com) with a copy to JPMorgan Chase Bank, N.A., 237 Park Ave,
6th Floor, New York, New York 10016, Attention: Ting Ting Liu (email: tingting.liu@jpmorgan.com); 
 (iv) if to any Issuing Bank, to it at
its address (or telecopy (or other facsimile transmission) number) most recently specified by it in a notice delivered to the Administrative Agent and the Borrower (or, in the absence of any such notice, to the address (or telecopy (or other
facsimile transmission) number) set forth in the Administrative Questionnaire of the Lender that is serving as such Issuing Bank or is an Affiliate thereof); and 

(v) if to any other Lender, to it at its address (or telecopy (or other facsimile transmission) number) set forth in its Administrative
Questionnaire. 
 Notices and other communications sent by hand or overnight courier service, or mailed by certified or registered mail,
shall be deemed to have been given when received; notices and other communications sent by telecopy (or other facsimile transmission) shall be deemed to have been given when sent (except that, if not given during normal business hours for the
recipient, shall be deemed to have been given at the opening of business on the next business day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in subsection (b) below,
shall be effective as provided in such subsection (b). 

  
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 (b) Notices and other communications to the Lenders, Swing Line Lender and Issuing Banks
hereunder may be delivered or furnished by electronic communications pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Article II unless otherwise agreed by
the Administrative Agent and the applicable Lender, Swing Line Lender and applicable Issuing Bank. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic
communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications. 

(c) Any party hereto may change its address or telecopy (or other facsimile or electronic transmission) contact information for notices and
other communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt. 

The Borrower agrees that the Administrative Agent may make the Communications (as defined below) available to the Lenders by posting the
Communications on Debt Domain, IntraLinks, Syndtrak, ClearPar, the Internet or another similar electronic system chosen by the Administrative Agent to be its electronic transmission system (the “Platform”). THE PLATFORM IS PROVIDED
“AS IS” AND “AS AVAILABLE.” The Agent Parties (as defined below) do not warrant the adequacy of the Platform and expressly disclaim liability for errors or omissions in the communications effected thereby (the
“Communications”). No warranty of any kind, express, implied or statutory, including any warranty of merchantability, fitness for a particular purpose, non-infringement of third-party rights
or freedom from viruses or other code defects, is made by any Agent Party in connection with the Communications or the Platform. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent
Parties”) be responsible or liable for damages arising from the unauthorized use by others of information or other materials obtained through internet, electronic, telecommunications or other information transmission, except to the extent
that such damages have resulted from the willful misconduct or gross negligence of such Agent Party (as determined in a final, non-appealable judgment by a court of competent jurisdiction). 

Section 10.2 Waivers; Amendments. (a) No failure or delay by the Administrative Agent, any Issuing Bank or any Lender in
exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or
further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent, the Issuing Banks and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies that they would
otherwise have. No waiver of any provision of this Agreement or any other Loan Document or consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section,
and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance, amendment, extension or increase of a Letter of
Credit shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent, any Lender or the applicable Issuing Bank may have had notice or knowledge of such Default at the time. 

  
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 (b) Except as provided in Section 2.13(b), none of this Agreement, any other
Loan Document or any provision hereof or thereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders or by the Borrower and the Administrative Agent with
the consent of the Required Lenders; provided, however, that, subject to Section 2.13(b), no such amendment, waiver or consent shall: (i) extend or increase the Commitment of any Lender without the written consent of
such Lender (or make any changes to the definition of “Applicable Percentage”), (ii) reduce the principal amount of any Loan, reduce the rate of interest thereon, or reduce any reimbursement obligation in respect of any Letter of Credit,
or reduce any fees payable hereunder, without the written consent of each Lender and Issuing Bank directly and adversely affected thereby, (iii) postpone the scheduled date of payment of the principal amount of any Loan, or any interest
thereon, or any fees payable hereunder or any reimbursement obligation in respect of any Letter of Credit, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the written
consent of each Lender directly and adversely affected thereby; provided, however, that notwithstanding clause (ii) or (iii) of this Section 10.2(b), only the consent of the Required Lenders shall be necessary to waive
any obligation of the Borrower to pay interest at the default rate set forth in Section 2.12(c), (iv) change Section 2.17(b), Section 2.17(c), Section 4.02 of the Collateral Agreement or any other
Section hereof providing for the ratable treatment of the Lenders, in each case in a manner that would alter the pro rata sharing of payments required thereby, without the written consent of each Lender, (v) release all or substantially all of
the value of any Guaranty, without the written consent of each Lender, except to the extent the release of any Guarantor is permitted pursuant to Article IX or Section 10.17 (in which case such release may be made by the
Administrative Agent, acting alone), (vi) change any of the provisions of this Section or the percentage referred to in the definition of “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders
required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender, (vii) extend the expiration date of any Letter of Credit beyond the Maturity Date
without the written consent of the applicable Issuing Bank, each Lender directly and adversely affected thereby, and the beneficiary(ies) of such Letter of Credit, (viii) change the definition of “Pro Rata Share” without the written
consent of each Lender or (ix) release all or substantially all the Collateral from the Liens of the Security Documents, or subordinate any such Liens to Liens securing any other Indebtedness for borrowed money, in each case, without the
written consent of each Lender (except as expressly provided in Section 10.17 or the applicable Security Document (including any such release by the Administrative Agent in connection with any sale or other disposition of the Collateral
upon the exercise of remedies under the Security Documents), it being understood and agreed that an amendment or other modification of the type of obligations secured by the Security Documents shall not be deemed to be a release of the Collateral
from the Liens of the Security Documents). Notwithstanding anything to the contrary herein, (A) no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent hereunder without the prior written
consent of the Administrative Agent, (B) no such amendment shall amend, modify, terminate or waive any obligation of Lenders relating to the purchase of participations in Letters of Credit as provided in Section 2.4(d) without the
written consent of the Administrative Agent and of each Issuing Bank, and no such agreement shall amend, modify or otherwise affect the rights or duties of any Issuing Bank hereunder without the prior written consent of such Issuing Bank,
(C) no such amendment shall amend, modify, terminate or waive any provision hereof relating to the Swing Line Sublimit or the Swing Line Loans without the consent of Swing Line Lender, (D) no Defaulting Lender shall have any right to
approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of the applicable Lenders other
than Defaulting Lenders), except that (x) the Commitment of any Defaulting Lender may not be increased or the termination thereof extended without the consent of such Lender, (y) the principal amount of any Defaulting Lender’s Loan,
or the interest rate thereon or any fees payable hereunder to any Defaulting Lender may not be reduced without the consent of such Lender and (z) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender
that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall require the consent of such Defaulting Lender, (E) this Agreement may be amended to provide for a Commitment Increase in the manner contemplated by
Section 2.19 and the extension of the Maturity Date as contemplated by Section 2.20, (F) any provision of this Agreement or any other Loan Document may be amended by an agreement in writing entered into by the Borrower and
the Administrative Agent to cure any ambiguity, omission, defect or inconsistency, so long as, in each case, the Lenders shall have received at least five Business Days’ prior written notice thereof and the Administrative Agent shall not have
received, within five Business Days of the date of such notice to the Lenders, a written notice from the Required Lenders stating that the Required Lenders object to such amendment and (G) any amendment or waiver (including any waiver of the
conditions precedent set forth in Section 4.2) that by its terms disproportionately affects the rights or duties of Lenders holding Loans or Commitments of a particular Class (as compared to Lenders holding Loans or Commitments of any
other Class) will require only the requisite percentage in interest of such disproportionately affected Class of Lenders that would be required to consent thereto if such Class of Lenders were the only Class of Lenders. 

  
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 Section 10.3 Expenses: Limitation of Liability; Indemnity.
(a) Expenses. The Borrower shall pay (i) all reasonable, documented and invoiced out-of-pocket expenses incurred by the Administrative Agent, each
Arranger, any syndication agent and their respective Affiliates, including, without limitation, the reasonable, documented and invoiced fees, disbursements and other charges of one firm of counsel for the Administrative Agent, the Arrangers and any
syndication agent, taken as a whole (and if reasonably necessary (as determined by the Administrative Agent in consultation with the Borrower), of a single regulatory counsel and a single local counsel in each appropriate jurisdiction) in connection
with the syndication of the credit facilities provided for herein, the preparation, execution, delivery and administration of this Agreement, any other Loan Document or any amendments, modifications or waivers of the provisions hereof or thereof
(whether or not the transactions contemplated hereby or thereby shall be consummated), and (ii) all reasonable, documented and invoiced out-of-pocket expenses
incurred by the Administrative Agent, each Arranger, each Issuing Bank and each Lender, including, without limitation, the fees, disbursements and other charges of one firm of counsel for the Administrative Agent, the Arrangers, the Issuing Banks
and the Lenders, taken as a whole (and if reasonably necessary (as determined by the Administrative Agent in consultation with the Borrower), of a single regulatory counsel and a single local counsel in each appropriate jurisdiction and in the case
of an actual or potential conflict of interest where the Administrative Agent or any Arranger affected by such conflict informs the Borrower of such conflict and thereafter retains its own counsel, of another firm of counsel for such affected
person), in connection with the enforcement or protection of its rights in connection with this Agreement or any other Loan Document, including its rights under this Section, or in connection with the Loans made, or Letters of Credit issued
hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 

(b) Limitation of Liability. To the extent permitted by applicable law (i) the Borrower and any Loan Party shall not assert, and
the Borrower and each Loan Party hereby waive, any claim against -127- the Administrative Agent, any Arranger, any Issuing Bank and any Lender, and any Related Party of
any of the foregoing Persons (each such Person being called a “Lender-Related Person”) for any Liabilities arising from the use by others of information or other materials (including, without limitation, any personal data) obtained
through telecommunications, electronic or other information transmission systems (including the Internet), except as determined by a court of competent jurisdiction by final and non-appealable judgment to have
resulted from the gross negligence or willful misconduct of such Lender-Related Person, and (ii) no party hereto shall assert, and each such party hereby waives, any Liabilities against any other party hereto, on any theory of liability, for
special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document, or any agreement or instrument contemplated hereby or
thereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof; provided that, nothing in this Section 10.3(b) shall relieve the Borrower and each Loan Party of any obligation it may have to indemnify
an Indemnitee, as provided in Section 10.3(c), against any special, indirect, consequential or punitive damages asserted against such Indemnitee by a third party. 

  
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 (c) Indemnity. Each Loan Party shall indemnify Administrative Agent, each Arranger,
each Issuing Bank, each Lender and any syndication agent and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all Liabilities
and reasonable, documented and invoiced expenses, including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee by any third party or by the Borrower or any other Loan Party arising
out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the performance by the parties hereto of their respective obligations
hereunder or the consummation of the Transactions or any other transactions contemplated hereby, or, in the case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the
administration of this Agreement and the other Loan Documents, (ii) any Loan or Letter of Credit or the use of the proceeds thereof (including any refusal by the Issuing Bank to honor a demand for payment under a Letter of Credit if the
documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned, leased or operated by the
Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective Proceeding relating to any of the foregoing, whether based on contract, tort or
any other theory and regardless of whether any Indemnitee is a party thereto (and regardless of whether such matter is initiated by a third party or the Borrower or any Affiliate of the Borrower); provided that such indemnity shall not, as to
any Indemnitee, be available (v) with respect to Taxes (and amounts relating thereto), the indemnification for which shall be governed solely and exclusively by Sections 2.14 and 2.16, other than any Taxes that represent losses,
claims or damages arising from any non-Tax claim, (w) to the extent that such Liabilities or reasonable, documented and invoiced expenses are determined by a court of competent jurisdiction by final and non-appealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee, (x) if arising from a material breach by such Indemnitee or one of its Affiliates of its express
obligations under this Agreement or any other Loan Document (as determined by a court of competent jurisdiction by final and non-appealable judgment), (y) if arising from any dispute between and among
Indemnitees that does not involve an act or omission by the direct parent of the Borrower, the Borrower or any of its Subsidiaries (as determined by a court of competent jurisdiction by final and
non-appealable judgment) other than any proceeding against Administrative Agent, the Arrangers or the Issuing Banks in such capacity, or (z) if arising from any settlement with respect to indemnified
liabilities which is entered into by such Indemnitee without Borrower’s written consent (such consent not to be unreasonably withheld, conditioned or delayed). 

(d) Lender Reimbursement. Each Lender severally agrees to pay any amount required to be paid by the Borrower under paragraphs (a), (b)
or (c) of this Section 10.3 to the Administrative Agent, each Issuing Bank and the Swing Line Lender, and each Related Party of any of the foregoing Persons (each, an “Agent-Related Person”) (to the extent not
reimbursed by the Borrower and without limiting the obligation of the Borrower to do so), ratably according to their respective Applicable Percentage in effect on the date on which such payment is sought under this Section (or, if such payment is
sought after the date upon which the Commitments shall have terminated and the Loans shall have been paid in full, ratably in accordance with such Applicable Percentage immediately prior to such date), and indemnify each Agent-Related Person from
and against any and all Liabilities and related expenses, including the fees, charges and disbursements of any kind whatsoever that may at any time (whether before or after the payment of the Loans) be imposed on, incurred by or asserted against
such Agent-Related Person in any way relating to or arising out of the Commitments, this Agreement, any of the other Loan Documents or any documents contemplated by or referred to herein or therein or the transactions contemplated hereby or thereby
or any action taken or omitted by such Agent-Related Person under or in connection with any of the foregoing; provided that the unreimbursed expense or Liability or related expense, as the case may be, was incurred by or asserted against such
Agent-Related Person in its capacity as such; provided further that no Lender shall be liable for the payment of any portion of such Liabilities, costs, expenses or disbursements that are found by a final and nonappealable decision of
a court of competent jurisdiction to have resulted primarily from such Agent-Related Person’s gross negligence or willful misconduct. The agreements in this Section shall survive the termination of this Agreement and the payment of the Loans
and all other amounts payable hereunder. 

  
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 (e) Payments. All amounts due under this Section 10.3 shall be payable
promptly after written demand therefor. 
 Section 10.4 Successors and Assigns. (a) The provisions of this Agreement shall
be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that (i) the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without
the prior written consent of each Lender and each Issuing Bank (and any attempted assignment or transfer by the Borrower without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights or obligations
hereunder except in accordance with this Section. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants
(to the extent provided in paragraph (c) of this Section) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by
reason of this Agreement. 
 (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more
assignees (but not to the Borrower or an Affiliate thereof or any natural person) all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior
written consent (such consent not to be unreasonably withheld or delayed) of: 
 (A) the Borrower; provided that (x) the
Borrower shall be deemed to have consented to an assignment of all or a portion of the Loans and Commitments unless it shall have objected thereto by written notice to the Administrative Agent within ten Business Days after having received notice
thereof and (y) no consent of the Borrower shall be required for an assignment to a Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is continuing, any other assignee; and 

(B) the Administrative Agent, each Issuing Bank and Swing Line Lender; provided that no consent of the Administrative Agent shall be
required for an assignment to a Lender, an Affiliate of a Lender or an Approved Fund. 
 (ii) Assignments shall be subject to the following
additional conditions: 
 (A) except in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire
remaining amount of the assigning Lender’s Commitment or Loans, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such
assignment is delivered to the Administrative Agent) shall not be less than $5,000,000 (or a greater amount that is an integral multiple of $1,000,000) unless each of the Borrower and the Administrative Agent otherwise consent; provided that
no such consent of the Borrower shall be required if an Event of Default has occurred and is continuing; 

  
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 (B) each partial assignment shall be made as an assignment of a proportionate part of all
the assigning Lender’s rights and obligations under this Agreement (except that an assignment may be of only Commitments of a single Class without the requirement to assign Commitments of any other Class); 

(C) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a
processing and recordation fee of $3,500; 
 (D) the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent any
tax forms required by Section 2.16(e) and an Administrative Questionnaire in which the assignee designates one or more credit contacts to whom all syndicate-level information (which may contain material
non-public information about the Borrower and its Related Parties or their respective securities) will be made available and who may receive such information in accordance with the assignee’s compliance
procedures and applicable laws, including Federal and state securities laws; 
 (E) no such assignment shall be made to (i) any Loan
Party nor any Affiliate of a Loan Party or (ii) any Defaulting Lender or any of its subsidiaries, or any Person, who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (ii) or (iii)
any Disqualified Lender; and 
 (F) in connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such
assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon
distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent,
the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then
owed by such Defaulting Lender to the Administrative Agent or any Lender hereunder (and interest accrued thereon), and (y) acquire (and fund as appropriate) its full pro rata share of all Loans in accordance with its Applicable Percentage.
Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance with the provisions of this paragraph, then the assignee of
such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 
 For the purposes
of this Section, the term “Approved Fund” means any Person (other than a natural person) that is engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course of its
business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 

(iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) of this Section, from and after the effective date specified
in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning
Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s
rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Section 2.14, Section 2.15, Section 2.16 and
Section 10.3); provided that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that
Lender’s having been a Defaulting Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section shall be treated for purposes of this Agreement as a sale by such Lender of a
participation in such rights and obligations in accordance with paragraph (c) of this Section. 

  
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 (iv) The Administrative Agent, acting for this purpose as a
non-fiduciary agent of the Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders,
and the Commitment of, and amounts on the Loans owing to, and drawings under Letters of Credit owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive
(absent manifest error), and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding
notice to the contrary. The Register is intended to establish that each Commitment, Loan, Letter of Credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury
Regulations. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice. The Borrower agrees to indemnify the Administrative Agent from and against any and
all losses, claims, damages and liabilities of whatsoever nature which may be imposed on, asserted against or incurred by the Administrative Agent in performing its duties under this Section 10.4(b)(iv) except to the extent that such
losses, claims, damages or liabilities are determined by a court of competent jurisdiction by final and non-appealable judgment to have resulted from the gross negligence or willful misconduct of the
Administrative Agent. The Loans (including principal and interest) are registered obligations and the right, title, and interest of any Lender or its assigns in and to such Loans shall be transferable only upon notation of such transfer in the
Register. 
 (v) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an assignee, the
assignee’s completed Administrative Questionnaire and any tax forms required by Section 2.16(e) (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this
Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register; provided
that if either the assigning Lender or the assignee shall have failed to make any payment required to be made by it pursuant to Section 2.6(b), Section 2.17(d) or Section 10.3(c), the Administrative Agent shall
have no obligation to accept such Assignment and Assumption and record the information therein in the Register unless and until such payment shall have been made in full, together with all accrued interest thereon. No assignment shall be effective
for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. 
 (c) (i) Any Lender may, without
the consent of, or notice to, the Borrower, the Administrative Agent, sell participations to one or more banks or other entities (but not to the Borrower or an Affiliate thereof or any natural person) (a “Participant”) in all or a
portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided that (A) such Lender’s obligations under this Agreement shall remain
unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly
with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to
enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement or any other Loan Document; provided that such agreement or instrument may provide that such Lender will not, without the consent
of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 10.2(b) that affects such Participant. Subject to paragraph (c)(ii) of this Section, the Borrower agrees that each Participant
shall be entitled to the benefits of Section 2.14, Section 2.15 and Section 2.16 (subject to the requirements and limitations therein, including the requirements under Section 2.16(e) (it being
understood and agreed that the documentation required under Section 2.16(e) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph
(b) of this Section; provided that such Participant agrees to be subject to the provisions of Section 10.12 as if it were an assignee under paragraph (b) of this Section. To the extent permitted by law, each Participant
also shall be entitled to the benefits of Section 10.8 as though it were a Lender; provided that such Participant agrees to be subject to Section 2.17(c) as though it were a Lender. 

  
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 (ii) A Participant shall not be entitled to receive any greater payment under
Section 2.14 or Section 2.16, with respect to any participation, than its participating Lender would have been entitled to receive. 

(iii) Each Lender that sells a participation shall, acting solely for United States federal income tax purposes as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans
or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any
Participant or any information relating to a Participant’s interest in any Commitments, Loans, Letters of Credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish
that such Commitment, Loan, Letter of Credit or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be
conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. The
Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. 
 (d)
Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank, the
Bank of England or the European Central Bank, and this Section shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its
obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
 (e) (i) No assignment or participation
shall be made to any Person that was a Disqualified Lender (other than, in the case of participations (but not assignments), a Person who was a Disqualified Institution solely as a result of clause (c) of the definition thereof) as of the date
(the “Trade Date”) on which the assigning Lender entered into a binding agreement to sell and assign all or a portion of its rights and obligations under this Agreement to such Person (unless the Borrower has consented to such
assignment in writing in its sole and absolute discretion, in which case such Person will not be considered a Disqualified Lender for the purpose of such assignment or participation). With respect to any assignee that becomes a Disqualified Lender
after the applicable Trade Date (including as a result of the delivery of a notice pursuant to, and/or the expiration of the notice period referred to in, the definition of “Disqualified Lender”), (A) such assignee shall not
retroactively be disqualified from becoming a Lender and (B) the execution by the Borrower of an Assignment and Assumption with respect to such assignee will not by itself result in such assignee no longer being considered a Disqualified
Lender. Any assignment in violation of this clause (e)(i) shall not be void, but the other provisions of this clause (e) shall apply. 

  
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 (ii) If any assignment or participation is made to any Disqualified Lender without the
Borrower’s sole prior written consent in violation of clause (e)(i) above, or if any Person becomes a Disqualified Lender after the applicable Trade Date, the Borrower may, at its sole expense and effort, upon notice to the applicable
Disqualified Lender and the Administrative Agent, (A) in the case of outstanding Loans held by Disqualified Lenders, purchase or prepay such Loans by paying the lesser of (x) the principal amount thereof and (y) the amount that such
Disqualified Lender paid to acquire such Loans, in each case plus accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it hereunder and/or (B) require such Disqualified Lender to assign, without
recourse (in accordance with and subject to the restrictions contained in this Section 10.4), all of its interest, rights and obligations under this Agreement to one or more Persons at the lesser of (x) the principal amount thereof
and (y) the amount that such Disqualified Lender paid to acquire such interests, rights and obligations, in each case plus accrued interest, accrued fees and all other amounts (other than principal amounts) payable to it hereunder. 

(iii) Notwithstanding anything to the contrary contained in this Agreement, Disqualified Lenders (A) will not (x) have the right to
receive information, reports or other materials provided to Lenders by the Borrower, the Administrative Agent or any other Lender, (y) attend or participate in meetings attended by the Lenders and the Administrative Agent, or (z) access
any electronic site established for the Lenders or confidential communications from counsel to or financial advisors of the Administrative Agent or the Lenders and (B) (x) for purposes of any consent to any amendment, waiver or modification of,
or any action under, and for the purpose of any direction to the Administrative Agent or any Lender to undertake any action (or refrain from taking any action) under this Agreement or any other Loan Document, each Disqualified Lender will be deemed
to have consented in the same proportion as the Lenders that are not Disqualified Lenders consented to such matter, and (y) for purposes of voting on any plan of reorganization or plan of liquidation pursuant to any Debtor Relief Laws, each
Disqualified Lender party hereto hereby agrees (1) not to vote on such plan, (2) if such Disqualified Lender does vote on such plan notwithstanding the restriction in the foregoing clause (1), such vote will be deemed not to be in good
faith and shall be “designated” pursuant to Section 1126(e) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws), and such vote shall not be counted in determining whether the applicable class has accepted
or rejected such plan in accordance with Section 1126(c) of the Bankruptcy Code (or any similar provision in any other Debtor Relief Laws) and (3) not to contest any request by any party for a determination by the Bankruptcy Court (or
other applicable court of competent jurisdiction) effectuating the foregoing clause (2). 
 (iv) The Administrative Agent shall have the
right, and the Borrower hereby expressly authorizes the Administrative Agent to (1) post the list of Disqualified Lenders provided by the Borrower and any updates thereto from time to time (collectively, the “DQ List”) on the
Platform and/or (2) provide the DQ List to each Lender requesting the same. The parties to this Agreement hereby acknowledge and agree that the Administrative Agent will not have any duty, responsibility or liability to monitor or enforce
assignments, participations or other actions in respect of Disqualified Lenders, or otherwise take (or omit to take) any action with respect thereto. 

  
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 Section 10.5 Survival. All covenants, agreements, representations and warranties
made by the Loan Parties herein or in the other Loan Documents and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the
other parties hereto and shall survive the execution and delivery of this Agreement and the making of any Loans and issuance or any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding
that the Administrative Agent, the Issuing Bank or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any Loan Document is executed and delivered or any credit is extended hereunder, and
shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the
Commitments have not expired or terminated. The provisions of Section 2.14, Section 2.15, Section 2.16 and Section 10.3 and Article IX shall survive and remain in full force and effect
regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Commitments, the cancellation or expiration of the Letters of Credit and the reimbursement of any amounts drawn
thereunder, the resignation of the Administrative Agent, the replacement of any Lender, or the termination of this Agreement or any provision hereof. 

Section 10.6 Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties
hereto on different counterparts), each of which shall be deemed an original, but all of which when taken together shall constitute a single contract. This Agreement, the other Loan Documents and any separate letter agreements with respect to fees
payable to the Administrative Agent constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.
Except as provided in Section 4.1, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together,
bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page of this
Agreement by telecopy or other electronic imaging means shall be effective as delivery of a manually executed counterpart of this Agreement. 

Section 10.7 Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in
a particular jurisdiction shall not invalidate such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section, if and to the extent that the enforceability of any provisions in this Agreement relating to
Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, then such provisions shall be deemed to be in effect only to the extent not so limited. 

Section 10.8 Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender, each Issuing Bank and
each of its respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in
whatever currency) or other amounts at any time held by, and other obligations (in whatever currency) at any time owing by such Lender, Issuing Bank or Affiliate to or for the credit or the account of any Loan Party against any of and all the
obligations of such Loan Party now or hereafter existing under this Agreement or any other Loan Document held by such Lender or Issuing Bank, irrespective of whether or not such Lender or Issuing Bank shall have made any demand under this Agreement
or such other Loan Document and although such obligations may be unmatured; provided that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the
Administrative Agent for further application in accordance with the provisions of Section 2.21 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the
Administrative Agent, the Issuing Banks and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the obligations owing to such Defaulting Lender as to which it
exercised such right of setoff. The rights of each Lender and Issuing Bank under this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender or Issuing Bank may have. Each Lender and Issuing Bank
agrees to notify the Borrower and the Administrative Agent promptly after any such setoff and application; provided that the failure to give such notice shall not affect the validity of such setoff and application. 

  
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 Section 10.9 Governing Law; Jurisdiction; Consent to Service of Process.
(a) THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK 
 (b) Each of the Lenders and
the Administrative Agent hereby irrevocably and unconditionally agrees that, notwithstanding the governing law provisions of any applicable Loan Document, any claims brought against the Administrative Agent by any Lender relating to this Agreement,
any other Loan Document or the consummation or administration of the transactions contemplated hereby or thereby shall be construed in accordance with and governed by the law of the State of New York. 

(c) Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of
the United States District Court for the Southern District of New York sitting in the Borough of Manhattan (or if such court lacks subject matter jurisdiction, the Supreme Court of the State of New York sitting in the Borough of Manhattan), and any
appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or any other Loan Document or the transactions relating hereto or thereto, or for recognition or enforcement of any judgment, and each of the
parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may (and any such claims, cross-claims or third party claims brought against the Administrative Agent or any of its Related
Parties may only) be heard and determined in such Federal (to the extent permitted by law) or New York State court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in
other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or in any other Loan Document shall affect any right that the Administrative Agent, any Issuing Bank or any Lender may otherwise have to
bring any action or proceeding relating to this Agreement against any Loan Party in a jurisdiction where Collateral is located or to enforce a judgment in the courts of any jurisdiction. 

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

(e) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 10.1.
Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

Section 10.10 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER
THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

  
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 Section 10.11 Headings. Article and Section headings and the Table of Contents
used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

Section 10.12 Confidentiality. (a) Each of the Administrative Agent and the Lenders (which term shall for the purposes of
this Section 10.12 includes the Issuing Banks) agrees to (i) maintain the confidentiality of the Information (as defined below), (ii) not disclose any Information to any individual or organization, either internally or externally,
without the prior written consent of the Borrower, and (iii) not use the Information for any purpose except in connection with the Loan Documents, except that Information may be disclosed (A) to its and its Affiliates’ directors,
officers, employees, other providers of services and agents, including accountants, legal counsel and other advisors, or to any credit insurance provider relating to any Loan Party and its obligations, in each case whom it reasonably determines
needs to know such information in connection with this Agreement and the transactions contemplated hereby (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and
required to keep such Information confidential), (B) to the extent requested by any Governmental Authority (including any self-regulatory authority, such as the National Association of Insurance Commissioners) (in which case the Administrative Agent
or such Lender, as applicable, agrees (except with respect to any audit or examination conducted by bank accountants or any self-regulatory authority or governmental or regulatory authority exercising examination or regulatory authority), to the
extent practicable and permitted by applicable law, to inform the Borrower promptly thereof), (C) to the extent required by applicable laws or regulations or by any subpoena or similar legal process (in which case the Administrative Agent or such
Lender, as applicable, agrees, to the extent permitted by applicable law, to inform the Borrower promptly thereof), (D) to any other party to this Agreement or to any rating agency in connection with rating the Borrower or its Subsidiaries or the
Loans made to the Borrower, (E) in connection with the exercise of any remedies hereunder or under any Loan Document or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder or under any Loan Document,
(F) subject to an agreement containing provisions substantially the same as those of this Section, to any permitted assignee of any of its rights or obligations under this Agreement, (G) with the consent of the Borrower, (H) to the
extent such Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes available to the Administrative Agent or any Lender on a non-confidential
basis from a source other than the Borrower, (I) to any Participant or “bona fide” prospective Participant in, or any “bona fide” prospective assignee of, the Commitments, the Loans or any Lender’s rights or obligations
under this Agreement (in each case other than any Disqualified Lender) or (J) to any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower and its obligations in each case other than
any Disqualified Lender; provided that, in the case of clauses (I) and (J) of this Section 10.12 (x) such disclosure shall be subject to the Borrower’s consent (which shall not be unreasonably withheld or delayed) at any
time prior to an IPO, (y) such Participant, prospective Participant, prospective assignee, actual or prospective counterparty or advisor is advised of and agrees, in advance of such disclosure, in writing (including pursuant to customary
“click-through” procedures), to be bound by either the provisions of this Section 10.12 or other provisions that are at least as restrictive as the provisions contained in this Section 10.12 and (z) no consent
of Borrower shall be required (I) with respect to the provision of Limited Information to a Participant or permitted assignee if the Borrower shall have consented to the initial provision of Information or Limited Information to such
Participant or permitted assignee, (II) with respect to any administrative notices from the Administrative Agent to any Lender and (III) during any time that a Default or Event of Default has occurred and is continuing. For the purposes of
this Section, “Information” means all information received from the Borrower, or from any of its Affiliates, representatives or advisors on behalf of the Borrower, relating to the Borrower or its business (including, for the
avoidance of doubt, the DQ List), other than any such information that is available to the Administrative Agent or any Lender on a non-confidential basis prior to disclosure by the Borrower, or by any of its
Affiliates, representatives or advisors on behalf of the Borrower. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has
exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. In addition, the Administrative Agent and each Lender may disclose the existence of this Agreement
and information about this Agreement to market data collectors, similar service providers to the lending industry and service providers to the Administrative Agent or any Lender in connection with the administration or servicing of this Agreement,
the other Loan Documents and the Commitments. 

  
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 (b) EACH LENDER ACKNOWLEDGES THAT INFORMATION AS DEFINED IN SECTION 10.12(a)
FURNISHED TO IT PURSUANT TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE BORROWER AND ITS RELATED PARTIES OR THEIR RESPECTIVE SECURITIES, AND CONFIRMS THAT IT HAS DEVELOPED
COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE
PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS. 
 (c) ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND
AMENDMENTS, FURNISHED BY OR ON BEHALF OF THE BORROWER OR THE ADMINISTRATIVE AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL
NON-PUBLIC INFORMATION ABOUT THE BORROWER AND ITS RELATED PARTIES OR ITS SECURITIES. ACCORDINGLY, EACH LENDER REPRESENTS TO THE BORROWER AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS
ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW. 

Section 10.13 Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate
applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum
Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in
respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated and
the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the NYFRB Rate to the date of repayment,
shall have been received by such Lender. 

  
 -129- 

 Section 10.14 No Advisory or Fiduciary Responsibility. In connection with all
aspects of each Transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), each Loan Party acknowledges and agrees, and acknowledges its subsidiaries’
understanding, that: (i) (A) the arranging and other services regarding this Agreement provided by Administrative Agent, the Arrangers and the Lenders (which term shall for the purposes of this Section include the Issuing Banks) are arm’s-length commercial transactions between such Loan Party and its Affiliates, on the one hand, and the Administrative Agent, the Arrangers and the Lenders, on the other hand, (B) such Loan Party has
consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate, and (C) such Loan Party is capable of evaluating, and understands and accepts, the terms, risks and conditions of the Transactions
contemplated hereby and by the other Loan Documents; (ii) (A) each of the Administrative Agent, the Arrangers and the Lenders is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has
not been, is not, and will not be acting as an advisor, agent or fiduciary for any Loan Party or any of its subsidiaries, or any other Person and (B) neither Administrative Agent, any Arranger nor any Lender has any obligation to any Loan Party
or any of its Affiliates with respect to the Transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the Administrative Agent, the Arrangers and the Lenders and their
respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of such Loan Party and its Affiliates, and neither the Administrative Agent, any Arrangers nor any Lender has any obligation to
disclose any of such interests to such Loan Party or its Affiliates. To the fullest extent permitted by law, each Loan Party hereby waives and releases any claims that it may have against Administrative Agent, the Arrangers and the Lenders with
respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 

Section 10.15 Electronic Execution. Delivery of an executed counterpart of a signature page of (x) this Agreement,
(y) any other Loan Document and/or (z) any document, amendment, approval, consent, information, notice (including, for the avoidance of doubt, any notice delivered pursuant to Section 10.1), certificate, request, statement,
disclosure or authorization related to this Agreement, any other Loan Document and/or the transactions contemplated hereby and/or thereby (each an “Ancillary Document”) that is an Electronic Signature transmitted by telecopy,
emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page shall be effective as delivery of a manually executed counterpart of this Agreement, such other Loan Document or such Ancillary Document, as
applicable. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Agreement, any other Loan Document and/or any Ancillary Document shall be deemed to include
Electronic Signatures, deliveries or the keeping of records in any electronic form (including deliveries by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed signature page), each of which shall be
of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be; provided that nothing herein shall require the
Administrative Agent to accept Electronic Signatures in any form or format without its prior written consent and pursuant to procedures approved by it; provided, further, without limiting the foregoing, (i) to the extent the
Administrative Agent has agreed to accept any Electronic Signature, the Administrative Agent and each of the Lenders shall be entitled to rely on such Electronic Signature purportedly given by or on behalf of the Borrower or any other Loan Party
without further verification thereof and without any obligation to review the appearance or form of any such Electronic signature and (ii) upon the request of the Administrative Agent or any Lender, any Electronic Signature shall be promptly
followed by a manually executed counterpart. Without limiting the generality of the foregoing, the Borrower and each Loan Party hereby (i) agrees that, for all purposes, including without limitation, in connection with any workout,
restructuring, enforcement of remedies, bankruptcy proceedings or litigation among the Administrative Agent, the Lenders, the Borrower and the Loan Parties, Electronic Signatures transmitted by telecopy, emailed pdf. or any other electronic means
that reproduces an image of an actual executed signature page and/or any electronic images of this Agreement, any other Loan Document and/or any Ancillary Document shall have the same legal effect, validity and enforceability as any paper original,
(ii) the Administrative Agent and each of the Lenders may, at its option, create one or more copies of this Agreement, any other Loan Document and/or any Ancillary Document in the form of an imaged electronic record in any format, which shall
be deemed created in the ordinary course of such Person’s business, and destroy the original paper document (and all such electronic records shall be considered an original for all purposes and shall have the same legal effect, validity and
enforceability as a paper record), (iii) waives any argument, defense or right to contest the legal effect, validity or enforceability of this Agreement, any other Loan Document and/or any Ancillary Document based solely on the lack of paper
original copies of this Agreement, such other Loan Document and/or such Ancillary Document, respectively, including with respect to any signature pages thereto and (iv) waives any claim against any Lender-Related Person for any Liabilities
arising solely from the Administrative Agent’s and/or any Lender’s reliance on or use of Electronic Signatures and/or transmissions by telecopy, emailed pdf. or any other electronic means that reproduces an image of an actual executed
signature page, including any Liabilities arising as a result of the failure of the Borrower and/or any Loan Party to use any available security measures in connection with the execution, delivery or transmission of any Electronic Signature. 

  
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 Section 10.16 Certain Notices. Each Lender (which term shall for the purposes of
this Section include the Issuing Banks) that is subject to the requirements of the USA Patriot Act and the Beneficial Ownership Regulation, the Administrative Agent (for itself and not on behalf of any Lenders) hereby notifies each Loan Party that
pursuant to the requirements of the USA Patriot Act and the Beneficial Ownership Regulation, it is required to obtain, verify and record information that identifies such Loan Party, which information includes the name and address of such Loan Party
and other information that will allow such Lender or the Administrative Agent, as applicable, to identify such Loan Party in accordance with the USA Patriot Act and the Beneficial Ownership Regulation. Each Loan Party shall, promptly following a
request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your customer”
and anti-money laundering rules and regulations, including the USA Patriot Act and the Beneficial Ownership Regulation. 

Section 10.17 Release of Liens and Guarantees. (a) (i) A Loan Party shall automatically be released from its obligations
under the Loan Documents and all security interests created by the Security Documents in Collateral owned by such Loan Party shall be automatically released (A) upon the consummation of any transaction or designation permitted by this Agreement
(for the avoidance of doubt, as in effect from time to time) as a result of which such Loan Party ceases to be a Restricted Subsidiary (including pursuant to a permitted merger or amalgamation with a Subsidiary that is not a Loan Party or a
designation as an Unrestricted Subsidiary) or becomes an Excluded Subsidiary or (B) upon the request of the Borrower, in connection with a transaction permitted under this Agreement, as a result of which such Loan Party ceases to be a
Designated Subsidiary and (ii) the security interests created by the Security Documents in Collateral owned by a Loan Party shall be automatically released, (A) with respect to any property of such Loan Party that becomes an Excluded
Asset, (B) with respect to any assets of such Loan Party that are sold, transferred, leased or otherwise disposed of in a transaction permitted by Section 6.3, and (C) with respect to all property of such Loan Party, upon the release
of such Loan Party from its Guaranty otherwise in accordance with the Loan Documents; provided that, if so required by this Agreement, the Required Lenders shall have consented to such transaction and the terms of such consent shall not have
provided otherwise. Upon any sale or other transfer by any Loan Party (other than to the Borrower or any other Loan Party, or to any Restricted Subsidiary that, upon the consummation of such sale or other transfer would be required to become a Loan
Party) of any Collateral in a transaction permitted under this Agreement, or upon the effectiveness of any written consent to the release of the security interest created under any Security Document in any Collateral pursuant to
Section 10.2(b). the security interests in such Collateral created by the Security Documents shall be automatically released. 

  
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 (b) Upon termination of the aggregate Commitments and payment in full of all Obligations
(other than contingent amounts not yet due) under any Loan Document have been paid in full and all Letters of Credit have expired or been terminated (unless such Letters of Credit have been (i) cash collateralized in an amount equal to 103% of
Letter of Credit Usage at such time on terms reasonably satisfactory to the applicable Issuing Bank, (ii) backstopped by a letter of credit in form, amount and substance and by an institution reasonably satisfactory to the applicable Issuing
Bank or (iii) deemed reissued under another facility reasonably acceptable to the applicable Issuing Bank), all obligations of the Loan Parties under the Loan Documents shall be automatically released and all security interests created by the
Security Documents shall be automatically released. 
 (c) In connection with any termination or release pursuant to this
Section 10.17, the Administrative Agent shall execute and deliver to any Loan Party, at such Loan Party’s expense, all Uniform Commercial Code termination statements and other documents and take all further actions that such Loan
Party shall reasonably request to evidence such termination or release, and shall promptly deliver to the Borrower any possessory collateral subject to such release held by the Administrative Agent. 

(d) Each of the Lenders and the Issuing Bank irrevocably authorizes the Administrative Agent to provide any release or evidence of release,
termination or subordination contemplated by this Section 10.17. 
 (e) In the event that (i) all the Equity Interests in
any Guarantor are sold, transferred or otherwise disposed of to a Person other than the Borrower or its Restricted Subsidiaries in a transaction permitted under this Agreement, (ii) a Guarantor ceases to be a Designated Subsidiary or
(iii) a Guarantor would become an Excluded Subsidiary upon the consummation of any transaction permitted hereunder, the Administrative Agent shall, at the Borrower’s expense, promptly take such action and execute such documents as the
Borrower may reasonably request to terminate the Guaranty of such Guarantor. Notwithstanding anything to the contrary in this Agreement or in any other Loan Document, without the consent of the Required Lenders, no Guarantor shall be released from
its obligations under the Loan Documents if such Guarantor ceases to be a Wholly-Owned Subsidiary solely by virtue of a disposition or issuance of Equity Interests, unless such disposition or issuance is a good faith disposition or issuance to a
bona-fide unaffiliated third party whose primary purpose is not the release of the Guaranty and obligations of such Guarantor under the Loan Documents. 

Section 10.18 Acknowledgement and Consent to Bail-In of Affected Financial Institutions.
Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among the parties hereto, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any
Loan Document, to the extent such liability is unsecured, may be subject to the Write-Down and Conversion Powers of the applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

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

  
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 (B) a conversion of all, or a portion of, such liability into shares or other instruments
of ownership in such Affected Financial Institution, its parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any
rights with respect to any such liability under this Agreement or any other Loan Document; or 
 (C) the variation of the terms of such
liability in connection with the exercise of the Write-Down and Conversion Powers of the applicable Resolution Authority. 

Section 10.19 Acknowledgement Regarding Any Supported QFCs. To the extent that the Loan Documents provide support, through a
guarantee or otherwise, for hedging agreements or any other agreement or instrument that is a QFC (such support “QFC Credit Support” and each such QFC a “Supported QFC”), the parties acknowledge and agree as follows
with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated
thereunder, the “U.S. Special Resolution Regime”) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to
be governed by the laws of the State of New York and/or of the United States or any other state of the United States): 
 In the event a
Covered Entity that is party to a Supported QFC (each, a “Covered Party”) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any
interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would
be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the
event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit
Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were
governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the
rights of any Covered Party with respect to a Supported QFC or any QFC Credit Support. 
 Section 10.20 Collateral Matters.
(a) Except with respect to the exercise of setoff rights in accordance with Section 2.17(c) or with respect to a Secured Party’s right to file a proof of claim in an insolvency proceeding, no Secured Party shall have any right
individually to realize upon any of the Collateral or to enforce any Guarantee of the Obligations, it being understood and agreed that all powers, rights and remedies under the Loan Documents may be exercised solely by the Administrative Agent on
behalf of the Secured Parties in accordance with the terms thereof. 
 (b) In furtherance of the foregoing and not in limitation thereof, no
arrangements in respect of Cash Management Services the obligations under which constitute Secured Cash Management Obligations and no Swap Agreement the obligations under which constitute Secured Swap Obligations, will create (or be deemed to
create) in favor of any Secured Party that is a party thereto any rights in connection with the management or release of any Collateral or of the obligations of any Loan Party under any Loan Document. By accepting the benefits of the Collateral,
each Secured Party that is a party to any such arrangement in respect of Cash Management Services or Swap Agreement, as applicable, shall be deemed to have appointed the Administrative Agent to serve as administrative agent and collateral agent
under the Loan Documents and agreed to be bound by the Loan Documents as a Secured Party thereunder, subject to the limitations set forth in this paragraph. 

  
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 (c) The Secured Parties irrevocably authorize the Administrative Agent, at its option and in
its discretion, to subordinate any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the holder of any Lien on such property that is permitted by Section 6.2(a). The Administrative Agent shall
not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the Administrative Agent’s Lien
thereon or any certificate prepared by any Loan Party in connection therewith, nor shall the Administrative Agent be responsible or liable to the Lenders or any other Secured Party for any failure to monitor or maintain any portion of the
Collateral. 
 Section 10.21 Credit Bidding. The Secured Parties hereby irrevocably authorize the Administrative Agent, at the
direction of the Required Lenders, to credit bid all or any portion of the Secured Obligations (including by accepting some or all of the Collateral in satisfaction of some or all of the Secured Obligations pursuant to a deed in lieu of foreclosure
or otherwise) and in such manner purchase (either directly or through one or more acquisition vehicles) all or any portion of the Collateral (a) at any sale thereof conducted under the provisions of the Bankruptcy Code, including under
Section 363, 1123 or 1129 of the Bankruptcy Code, or any similar laws in any other jurisdictions to which a Loan Party is subject, or (b) at any other sale, foreclosure or acceptance of collateral in lieu of debt conducted by (or with the
consent or at the direction of) the Administrative Agent (whether by judicial action or otherwise) in accordance with any applicable law. In connection with any such credit bid and purchase, the Secured Obligations owed to the Secured Parties shall
be entitled to be, and shall be, credit bid by the Administrative Agent at the direction of the Required Lenders on a ratable basis (with Secured Obligations with respect to contingent or unliquidated claims receiving contingent interests in the
acquired assets on a ratable basis that shall vest upon the liquidation of such claims in an amount proportional to the liquidated portion of the contingent claim amount used in allocating the contingent interests) for the asset or assets so
purchased (or for the equity interests or debt instruments of the acquisition vehicle or vehicles that are issued in connection with such purchase). In connection with any such bid, (i) the Administrative Agent shall be authorized to form one
or more acquisition vehicles and to assign any successful credit bid to such acquisition vehicle or vehicles, (ii) each of the Secured Parties’ ratable interests in the Secured Obligations which were credit bid shall be deemed without any
further action under this Agreement to be assigned to such vehicle or vehicles for the purpose of closing such sale, (iii) the Administrative Agent shall be authorized to adopt documents providing for the governance of the acquisition vehicle
or vehicles (provided that any actions by the Administrative Agent with respect to such acquisition vehicle or vehicles, including any disposition of the assets or equity interests thereof, shall be governed, directly or indirectly, by, and
the governing documents shall provide for, control by the vote of the Required Lenders or their permitted assignees under the terms of this Agreement or the governing documents of the applicable acquisition vehicle or vehicles, as the case may be,
irrespective of the termination of this Agreement and without giving effect to the limitations on actions by the Required Lenders contained in Section 9.2 of this Agreement), (iv) the Administrative Agent on behalf of such acquisition
vehicle or vehicles shall be authorized to issue to each of the Secured Parties, ratably on account of the relevant Obligations which were credit bid, interests, whether as equity, partnership interests, limited partnership interests or membership
interests, in any such acquisition vehicle and/or debt instruments issued by such acquisition vehicle, all without the need for any Secured Party or acquisition vehicle to take any further action, and (v) to the extent that Secured Obligations
that are assigned to an acquisition vehicle are not used to acquire Collateral for any reason (as a result of another bid being higher or better, because the amount of Secured Obligations assigned to the acquisition vehicle exceeds the amount of
Secured Obligations credit bid by the acquisition vehicle or otherwise), such Secured Obligations shall automatically be reassigned to the Secured Parties pro rata with their original interest in such Secured Obligations and the equity interests
and/or debt instruments issued by any acquisition vehicle on account of such Secured Obligations shall automatically be cancelled, without the need for any Secured Party or any acquisition vehicle to take any further action. Notwithstanding that the
ratable portion of the Secured Obligations of each Secured Party are deemed assigned to the acquisition vehicle or vehicles as set forth in clause (ii) above, each Secured Party shall execute such documents and provide such information
regarding the Secured Party (and/or any designee of the Secured Party which will receive interests in or debt instruments issued by such acquisition vehicle) as the Administrative Agent may reasonably request in connection with the formation of any
acquisition vehicle, the formulation or submission of any credit bid or the consummation of the transactions contemplated by such credit bid. 

  
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 Section 10.22 Certain ERISA Matters. (a) Each Lender (x) represents
and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the
Administrative Agent, and each Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the following is and will be true: 

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

 (iii) (A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the meaning of Part VI
of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Letters of Credit, the
Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the requirements of subsections (b) through (g) of
Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such
Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement, or 

(iv) such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion,
and such Lender. 
 (b) In addition, unless sub-clause (i) in the immediately preceding clause
(a) is true with respect to a Lender or such Lender has provided another representation, warranty and covenant as provided in sub-clause (iv) in the immediately preceding clause (a), such Lender
further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the
benefit of, the Administrative Agent, and each Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that none of the Administrative Agent, or any Arranger or
any of their respective Affiliates is a fiduciary with respect to the Collateral or the assets of such Lender (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document
or any documents related to hereto or thereto). 

  
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 (c) The Administrative Agent, and each Arranger hereby informs the Lenders that each such
Person is not undertaking to provide investment advice or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions contemplated hereby in that
such Person or an Affiliate thereof (i) may receive interest or other payments with respect to the Loans, the Letters of Credit, the Commitments, this Agreement and any other Loan Documents (ii) may recognize a gain if it extended the
Loans, the Letters of Credit or the Commitments for an amount less than the amount being paid for an interest in the Loans, the Letters of Credit or the Commitments by such Lender or (iii) may receive fees or other payments in connection with
the transactions contemplated hereby, the Loan Documents or otherwise, including structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent
fees, utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or
fees similar to the foregoing. 
 [Signature Pages Follow] 

  
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 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written. 
  

			
	TOAST, INC.
		
	By:	 	 /s/ Jennifer DiRico

	Name: Jennifer DiRico
	Title: Senior Vice President, Finance
	
	TOAST CAPITAL LLC
		
	By:	 	 /s/ Brian Elworthy

	Name: Brian Elworthy
	Title: General Counsel
	
	STRATEX HOLDCO, LLC
		
	By:	 	 /s/ Brian Elworthy

	Name: Brian Elworthy
	Title: General Counsel
	
	OAE SOFTWARE, LLC
		
	By:	 	 /s/ Brian Elworthy

	Name: Brian Elworthy
	Title: General Counsel
	
	STRATEGY EXECUTION PARTNERS LLC
		
	By:	 	 /s/ Brian Elworthy

	Name: Brian Elworthy
	Title: General Counsel

 [Signature Page to Revolving Credit and Guaranty Agreement] 

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

			
	JPMORGAN CHASE BANK, N.A., as a
	Swing Line Lender and the Administrative Agent
		
	By:	 	 /s/ Ting Ting Liu

	Name: Ting Ting Liu
	Title: Authorized Signatory

 [Signature Page to Credit Agreement] 

 
			
	GOLDMAN SACHS LENDING PARTNERS LLC
		
	By:	 	 /s/ Kevin Raisch

	Name: Kevin Raisch
	Title: Authorized Signatory

 [Signature Page to Revolving Credit and Guaranty Agreement] 

 
			
	MORGAN STANLEY SENIOR FUNDING, INC.
		
	By:	 	 /s/ Michael King

	Name: Michael King
	Title: Authorized Signatory

 [Signature Page to Revolving Credit and Guaranty Agreement] 

 
			
	KEYBANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ Thomas A. Crandell

	Name: Thomas A. Crandell
	Title: Senior Vice President

 [Signature Page to Revolving Credit and Guaranty Agreement] 

 
			
	SILICON VALLEY BANK
		
	By:	 	 /s/ Ryan Aberdale

	Name: Ryan Aberdale
	Title: Vice President

 [Signature Page to Revolving Credit and Guaranty Agreement] 

 SCHEDULE 2.1 

COMMITMENTS 
  

									
	 Lender
	  	Commitment Amount	 	  	Pro Rata Share	 
	 JPMorgan Chase Bank, N.A.
	  	$	100,000,000	 	  	 	30.30	% 
	 Goldman Sachs Lending Partners LLC
	  	$	100,000,000	 	  	 	30.30	% 
	 Morgan Stanley Senior Funding, Inc.
	  	$	75,000,000	 	  	 	22.73	% 
	 KeyBank National Association
	  	$	40,000,000	 	  	 	12.12	% 
	 Silicon Valley Bank
	  	$	15,000,000	 	  	 	4.55	% 
	 TOTAL
	  	$	330,000,000	 	  	 	100.00	% 

 SCHEDULE 2.4 

EXISTING LETTERS OF CREDIT 
  

															
	 Loan # (J)
	  	 Pricing Option
	  	 Alias
	  	 CCY
	  	Amount	 	  	 All-In
Rate
	  	 Effective

Date

	 102133486
	  	 Standby Letter of Credit
	  	 NUSCGS029911
	  	 USD
	  	 	0.00	 	  	3%	  	
18-Sep-2019

	 102341639
	  	 Standby Letter of Credit
	  	 NUSCGS032028
	  	 USD
	  	 	2,000,000.00	 	  	3%	  	
30-Dec-2019

	 102362375
	  	 Standby Letter of Credit
	  	 NUSCGS032030
	  	 USD
	  	 	2,485,293.75	 	  	3%	  	
10-Jan-2020

	 102447866
	  	 Standby Letter of Credit
	  	 NUSCGS032540
	  	 USD
	  	 	291,060.00	 	  	3%	  	
21-Feb-2020

	 101772188
	  	 Standby Letter of Credit
	  	 NUSCGS026008
	  	 USD
	  	 	6,800,000.00	 	  	3%	  	
05-Mar-2019

 EXHIBIT A 

[FORM OF] 
 ASSIGNMENT
AND ASSUMPTION 
 This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below
and is entered into by and between [NAME OF ASSIGNOR] (the “Assignor”) and [NAME OF ASSIGNEE] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Revolving
Credit and Guaranty Agreement identified below, receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex I attached hereto (the “Standard Terms and Conditions”)
are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 
 For an agreed
consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit
Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments
delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and obligations of the Assignor under the facility identified below (including any letters of credit,
guarantees and swing line loans included in such facility) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any
Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the
foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations
sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this
Assignment and Assumption, without representation or warranty by the Assignor. 
  

					
	1.	  	Assignor:	  	  
 [Assignor [is] [is not] a Defaulting
Lender]

			
	2.	  	Assignee:	  	  
 [and is an Affiliate/Approved Fund
of [identify Lender]]

			
	3.	  	Borrower:	  	Toast, Inc. (the “Company”)
			
	4.	  	Administrative Agent:	  	JPMorgan Chase Bank, N.A., as Administrative Agent under the Credit Agreement

					
	5.	  	Credit Agreement:	  	Revolving Credit and Guaranty Agreement, dated as of June 8, 2021 (as amended, restated, amended and restated, supplemented, extended and/or otherwise modified from time to time, the “Credit Agreement”), among
Toast, Inc., as Borrower, the Guarantors from time to time party thereto, the Lenders and Issuing Banks from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent and Swing Line Lender.
			
	6.	  	Assigned Interest:	  	

  

							
	 Class of Assigned Commitments
	  	 Aggregate Amount of
Commitment/Loans for

all Lenders
	  	 Amount of

Commitment/Loans

Assigned
	  	 Percentage Assigned of
Commitment/Loans1

	 [Commitments]
 [Incremental Revolving

Commitment Tranche]
	  	$	  	$	  	%

 Effective Date: ________________, 20__ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF
RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 The Assignee agrees to deliver to the Administrative Agent a completed Administrative Questionnaire in
which the Assignee designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Loan Parties and their Related Parties or their
respective securities) will be made available and who may receive such information in accordance with the Assignee’s compliance procedures and applicable laws, including Federal and state securities laws. 

The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR
	
	[NAME OF ASSIGNOR],
		
	By:	 	  

		 	Name:
		 	Title:
	
	ASSIGNEE
	
	[NAME OF ASSIGNEE],
		
	By:	 	  

		 	Name:
		 	Title:

  

	1 	 Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder.

 
			
	Consented to and Accepted:
	
	JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT, SWING LINE LENDER AND ISSUING BANK
		
	By:	 	  

		 	Name:
		 	Title:
	
	[         ], AS ISSUING BANK,
		
	By:	 	  

		 	Name:
		 	Title:
	
	[Consented to:
	
	TOAST, INC.,
		
	By:	 	  

		 	Name:
		 	Title:]2

  
  

	2 	 To be added only if the consent of the Company is required by the terms of the Credit Agreement.

 ANNEX I 

TOAST, INC. CREDIT AGREEMENT 

Standard Terms and Conditions for 

Assignment and Assumption 
 1.
Representations and Warranties. 
 1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of
the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and
Assumption and to consummate the transactions contemplated hereby and (iv) it is [not] a Defaulting Lender; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection
with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any Collateral, (iii) the financial condition of the Borrower, any of
its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document, (iv) any requirements under applicable law for the Assignee to become a lender under the Credit Agreement or to charge interest at the rate set forth
therein from time to time, or (v) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan Document. 

1.2 Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to
execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement and under applicable law, (ii) it satisfies the requirements, if any, specified in the
Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder
and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the Person
exercising discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has received and/or had the opportunity to review a copy of the Credit Agreement to the extent it has in its
sole discretion deemed necessary, together with copies of the most recent financial statements delivered pursuant to Section 5.1(a) and 5.1(b) thereof (or, prior to the first such delivery, the financial statements
referred to in Section 3.4(a) thereof), as applicable, and such other documents and information as it has in its sole discretion deemed appropriate to make its own credit analysis and decision to enter into this Assignment
and Assumption and to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent, the Arrangers, the Assignor or any other Lender or any of their
respective Related Parties and (vi) attached to this Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; (b) agrees that
it will, independently and without reliance on the Administrative Agent, the Arrangers, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions
in taking or not taking action under the Loan Documents; (c) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are
delegated to or otherwise conferred upon the Administrative Agent by the terms thereof, together with such powers as are reasonably incidental thereto; and (d) agrees that it will perform in accordance with their terms all of the obligations
which by the terms of the Loan Documents are required to be performed by it as a Lender. 

 2. Payments. From and after the Effective Date, the Administrative Agent shall make all payments in
respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignee whether such amounts have accrued prior to or on or after the Effective Date. The Assignor and the Assignee shall make all
appropriate adjustments in payments by the Administrative Agent for periods prior to the Effective Date or with respect to the making of this assignment directly between themselves. 

3. Effect of Assignment. Upon the delivery of a fully executed original hereof to the Administrative Agent, as of the Effective Date, (i) the
Assignee shall be a party to the Credit Agreement and, to the extent of the Assigned Interest and as provided in this Assignment and Assumption, have the rights and obligations of a Lender thereunder and under the other Loan Documents and
(ii) the Assignor shall, to the extent as provided in this Assignment and Assumption, relinquish its rights and be released from its obligations under the Credit Agreement and the other Loan Documents to the extent of the Assigned Interest.

 4. General Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective
successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by
facsimile or in electronic (i.e., “pdf’ or “tif’) format shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. THIS ASSIGNMENT AND ASSUMPTION SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

  
 Page 2 

 EXHIBIT B-1 

[FORM OF] 
 BORROWING
REQUEST 
 JPMorgan Chase Bank, N.A., as Administrative Agent 

for the Lenders party to the 

Credit Agreement referred to below 
 [10 South
Dearborn, Floor L2, Suite IL 1-1145, Chicago, Illinois 60603-2300 
 Attention: JPMorgan Loan Services (Email:
jpm.agency.servicing.l@jpmorgan.com)] 
 [Date] 

Ladies and Gentlemen: 
 The undersigned, Toast,
Inc. (the “Borrower”), refers to the Revolving Credit and Guaranty Agreement, dated as of June 8, 2021 (as it may be amended, restated, amended and restated, modified, extended and/or supplemented from time to time, the
“Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined), among the Borrower, the Guarantors from time to time party thereto, the Lenders from time to time party thereto
(each, a “Lender” and collectively, the “Lenders”), the Issuing Banks from time to time party thereto and you, as Administrative Agent and Swing Line Lender, and hereby gives you notice, irrevocably, pursuant to
Section 2.5 of the Credit Agreement, that the undersigned hereby requests a Borrowing under the Credit Agreement, and in that connection sets forth below the information relating to such Borrowing (the “Proposed
Borrowing”) as required by Section 2.5 of the Credit Agreement: 
 (i) The Business Day of the Proposed
Borrowing is, 20 -3 
 (ii) The Proposed Borrowing is [to consist of Revolving Loan] [a
Swing Line Loan]. 
 (iii) The aggregate principal amount of the Proposed Borrowing is
[J4. 
 (iv) The Proposed Borrowing is to consist of [ABR Loans] [Eurodollar Loans].

 [(v) The initial Interest Period for the Proposed Borrowing is [one/three/six
months].]5 
 (vi) [The location and number of the account or accounts of Borrower to
which funds are to be disbursed is as follows: 
  
  

 
  

	3 	 Shall be a Business Day (a) at least one Business Day in the case of ABR Loans and at least three Business
Days in the case of Eurodollar Loans, in each case, after the date hereof and (b) the date of the proposed Borrowing in the case of Swing Line Loans, provided that any such notice shall be deemed to have been given on a certain day only if
given not later than 1:00 p.m. (New York City time) in the case of ABR Loans and not later than 12:00 p.m. (New York City time) in the case of Eurodollar Loans and Swing Line Loans, on such day. 

	4 	 Such amount to be stated dollars. 

	5 	 To be included for a Proposed Borrowing of Eurodollar Loans. 

 [Insert location and number of the account(s)]] 

[Issuing Bank to which proceeds of the requested Borrowing are to be disbursed:]6 

 
  

	6 	 Specify only in the case of a Borrowing requested to finance the reimbursement of a drawing honored under a
Letter of Credit. 

  
 Page 2 

 Borrower has caused this Borrowing Request to be executed and delivered by its duly
authorized Responsible Officer as of the date first written above. 
  

			
	Very truly yours,
	
	TOAST, INC.
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Borrowing Request] 

 EXHIBIT B-2 

[FORM OF] 
 FORM OF
ISSUANCE NOTICE 
 Reference is made to the Revolving Credit and Guaranty Agreement, dated as of June 8, 2021 (as it may be
amended, restated, amended and restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined), by and
among Toast, Inc., a Delaware corporation (the “Borrower”), the Guarantors from time to time party thereto, the Lenders from time to time party thereto (the “Lenders”), the Issuing Banks from time to time party
thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent (together with its permitted successors in such capacity, “Administrative Agent”) and Swing Line Lender. 

Pursuant to Section 2.4 of the Credit Agreement, Borrower desires a Letter of Credit to be issued by [specify
Issuing Bank] (the “Bank”) in accordance with the terms and conditions of the Credit Agreement on [    ] (the “Credit Date”) in an aggregate face amount of $ [    ]. 

Attached hereto for each such Letter of Credit are the following: 

(a) the stated amount of such Letter of Credit; 

(b) the name and address of the beneficiary; 

(c) the expiration date; and 
 (d)
either (i) the verbatim text of such proposed Letter of Credit, or (ii) a description of the proposed terms and conditions of such Letter of Credit, including a precise description of any documents to be presented by the beneficiary which,
if presented by the beneficiary prior to the expiration date of such Letter of Credit, would require the Issuing Bank to make payment under such Letter of Credit. 

Borrower hereby certifies that: 

(i) after issuing such Letter of Credit requested on the Credit Date, (A) the Total Utilization of Commitments shall not exceed the total
Commitments then in effect, (B) the aggregate Letter of Credit Usage shall not exceed the Letter of Credit Sublimit then in effect and (C) the Letter of Credit Usage attributable to Letters of Credit issued by the Bank shall not exceed the
Issuing Bank Sublimit of the Bank, unless otherwise agreed to in writing by the Bank; 
 (ii) as of the Credit Date, the representations and
warranties of the Loan Parties set forth in the Credit Agreement and the other Loan Documents shall be true and correct in all material respects (other than to the extent qualified by materiality or “Material Adverse Effect”, in which
case, such representations and warranties shall be true and correct in all respects) on and as of such Credit Date, except that (i) for purposes of this Issuance Notice, the representations and warranties contained in
Section 3.4(a) of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 5.1 of the Credit Agreement
and (ii) to the extent that such representations and warranties specifically refer to an earlier date, they were true and correct in all material respects (other than to the extent qualified by materiality or “Material Adverse
Effect”, in which case, such representations and warranties were true and correct in all respects) as of such earlier date; 

 (iii) at the time of and immediately after issuing such Letter of Credit requested on the
Credit Date, no Default or Event of Default has occurred and is continuing; 
 (iv) at the time of and immediately after issuing such letter
of credit requested on the Credit Date, Parent will be in compliance with the financial covenant set forth in Section 6.8 of the Credit Agreement whether or not such covenant would otherwise be tested in and as of the
Credit Date; and 
 (v) on or before the Credit Date, Administrative Agent has received all other information required by this Issuance
Notice. 
 [Remainder of page intentionally left blank] 

  
 Page 2 

 Date: [__________] 

 

			
	TOAST, INC.
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Borrowing Request] 

 EXHIBIT C 

[FORM OF] 
 INTEREST
ELECTION REQUEST 
 JPMorgan Chase Bank, N.A., as Administrative Agent 

for the Lenders party to the 

Credit Agreement referred to below 
 [10 South
Dearborn, Floor L2, Suite IL 1-1145, Chicago, Illinois 60603-2300 
 Attention: JPMorgan Loan Services (Email:
jpm.agency.servicing.l@jpmorgan.com)] 
 [Date] 
 Ladies and
Gentlemen: 
 The undersigned, Toast, Inc. (the “Borrower”), refers to the Revolving Credit and Guaranty Agreement, dated as
of June 8, 2021 (as it may be amended, restated, amended and restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used
herein as therein defined), among the Borrower, the Guarantors from time to time party thereto, the Lenders from time to time party thereto (each, a “Lender” and collectively, the “Lenders”), the Issuing Banks from
time to time party thereto and you, as Administrative Agent and Swing Line Lender, and hereby gives you notice, irrevocably, pursuant to Section 2.7 of the Credit Agreement, that the undersigned hereby requests to [convert]
[continue] the Borrowing of Loans referred to below, and in that connection sets forth below the information relating to such [conversion] [continuation] (the “Proposed [Conversion] [Continuation] “) as required by
Section 2.7 of the Credit Agreement: 
 (i) The Proposed [Conversion] [Continuation] relates to the Borrowing of Loans originally
made on _____________, 20___ (the “Outstanding Borrowing”) in the principal amount of $ and currently maintained as a Borrowing of [ABR Loans] [Eurodollar Loans with an Interest Period ending on [___________ ___, _____]]. 

(ii) The effective date of the Proposed [Conversion] [Continuation] is ___________ ___, _____7 

(iii) The Outstanding Borrowing shall be [continued as a Borrowing of Eurodollar Loans with an Interest Period of [one/three/six months] [converted into a
Borrowing of [ABR Loans] [Eurodollar Loans with an Interest Period of [one/three/six months]]]].8 
  

 
  

	7 	 Shall be a Business Day at least one Business Day in the case of ABR Loans and at least three Business Days in
the case of Eurodollar Loans, in each case, after the date hereof, provided that any such notice shall be deemed to have been given on a certain day only if given not later than 1:00 p.m. (New York City time) in the case of ABR Loans and not later
than 12:00 p.m. (New York City time) in the case of Eurodollar Loans on such day. 

	8 	 In the event that either (x) only a portion of the Outstanding Borrowing is to be so converted or
continued or (y) the Outstanding Borrowing is to be divided into separate Borrowings with different Interest Periods, the Borrower should make appropriate modifications to this clause to reflect the same. 

 [The undersigned hereby certifies that no Event of Default has occurred and will be continuing on the date
of the Proposed [Conversion] [Continuation]].9 
 [Signature Page Follows] 

 
  

	9 	 In the case of a Proposed Conversion or Continuation, insert this sentence only in the event that the
conversion is from an ABR Loan to a Eurodollar Loan or in the case of a continuation of a Eurodollar Loan. 

  
 Page 2 

 Borrower has caused this Interest Election Request to be executed and delivered by its duly
authorized Responsible Officer as of the date first written above. 
  

			
	Very truly yours,
	
	TOAST, INC.
		
	By:	 	      

		 	Name:
		 	Title:

 [Signature Page to Interest Election Request] 

 EXHIBIT D-1 

[FORM OF] 
 REVOLVING
LOAN NOTE 
 New York, New York 

____________ __, ______. 
 FOR
VALUE RECEIVED, TOAST, INC., a corporation organized and existing under the laws of the State of Delaware (the “Borrower”), hereby promises to pay to [_____] or its registered assigns (the “Revolving Lender”), in
dollars, in immediately available funds, at the office of JPMORGAN CHASE BANK, N.A. (the “Administrative Agent”) located at [_____] on the Maturity Date (as defined in the Credit Agreement referred to below) the unpaid principal
amount of all Revolving Loans (as defined in the Credit Agreement referred to below) made by the Revolving Lender to the Borrower pursuant to the Credit Agreement, payable at such times and in such amounts as are specified in the Credit Agreement.

 The Borrower promises also to pay to the Revolving Lender interest on the unpaid principal amount of each Revolving Loan incurred by
Borrower from the Revolving Lender in like money at said office from the date such Revolving Loan is made until paid at the rates and at the times provided in Section 2,12 of the Credit Agreement. 

This Note is one of the Revolving Loan Notes referred to in the Revolving Credit and Guaranty Agreement, dated as of June 8, 2021 (as it
may be amended, restated, amended and restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined),
among the Borrower, the Guarantors from time to time party thereto, the Lenders and Issuing Banks from time to time party thereto and the Administrative Agent and the Swing Line Lender, and is entitled to the benefits thereof and of the other Loan
Documents. As provided in the Credit Agreement, this Note is subject to voluntary prepayment, in whole or in part, prior to the Maturity Date and the Revolving Loans may be converted from one Type into another Type to the extent provided in the
Credit Agreement. 
 In case an Event of Default shall occur and be continuing, the principal of and accrued interest on this Note may be
declared to be due and payable in the manner and with the effect provided in the Credit Agreement. 
 The Borrower hereby waives
presentment, demand, protest or notice of any kind in connection with this Note. 
 THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND
BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK 

 
			
	TOAST, INC.
		
	By:	 	      

		 	Name:
		 	Title:

 [Signature Page to Revolving Loan Note] 

 EXHIBIT D-2 

[FORM OF] 
 SWING LINE
NOTE 
 New York, New York 
 ____________
__, ______. 
 FOR VALUE RECEIVED, TOAST, INC., a corporation organized and existing under the laws of the State of Delaware (the
“Borrower”), hereby promises to pay to JPMORGAN CHASE BANK, N.A. or its registered assigns (the “Swing Line Lender”), in dollars, in immediately available funds, at the office of JPMORGAN CHASE BANK, N.A. (the
“Administrative Agent”) located at [_______] on the Maturity Date (as defined in the Credit Agreement referred to below) the unpaid principal amount of all Swing Line Loans (as defined in the Credit Agreement referred to below) made
by the Swing Line Lender to the Borrower pursuant to the Credit Agreement, payable at such times and in such amounts as are specified in the Credit Agreement. 

The Borrower promises also to pay to the Swing Line Lender interest on the unpaid principal amount of each Swing Line Loan incurred by the Borrower from the
Swing Line Lender in like money at said office from the date such Swing Line Loan is made until paid at the rates and at the times provided in Section 2.12 of the Credit Agreement. 

This Note is one of the Swing Line Notes referred to in the Revolving Credit and Guaranty Agreement, dated as of June 8, 2021 (as it may
be amended, restated, amended and restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined), among
the Borrower, the Guarantors from time to time party thereto, the Lenders and Issuing Banks from time to time party thereto and the Administrative Agent and the Swing Line Lender, and is entitled to the benefits thereof and of the other Loan
Documents (as defined in the Credit Agreement). As provided in the Credit Agreement, this Note is subject to voluntary prepayment, in whole or in part, prior to the Maturity Date. 

In case an Event of Default (as defined in the Credit Agreement) shall occur and be continuing, the principal of and accrued interest on this
Note may be declared to be due and payable in the manner and with the effect provided in the Credit Agreement. 
 The Borrower hereby waives
presentment, demand, protest or notice of any kind in connection with this Note. 
 THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND
BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK 

 
			
	TOAST, INC.
		
	By:	 	      

		 	Name:
		 	Title:

 [Signature Page to Swing Line Note] 

 EXHIBIT E 

[FORM OF] 
 COMPLIANCE
CERTIFICATE 
 This Compliance Certificate (this “Compliance Certificate”) is delivered to you pursuant to
Section 5.1(c) of the Revolving Credit and Guaranty Agreement, dated as of June 8, 2021 (as it may be amended, restated, amended and restated, modified, extended and/or supplemented from time to time, the
“Credit Agreement”: the terms defined therein and not otherwise defined herein being used herein as therein defined), by and among Toast, Inc., a Delaware corporation (the “Borrower”), the Guarantors from time to
time party thereto, the Lenders and Issuing Banks from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (together with its permitted successors in such capacity, “Administrative Agent”) and Swing
Line Lender. 
 1. I am the duly elected, qualified and acting [Chief Financial Officer] [Principal Accounting Officer] [Treasurer]
[Controller] of Borrower. 
 2. I have reviewed and am familiar with the contents of this Certificate. I am providing this Compliance
Certificate solely in my capacity as a Financial Officer of Borrower. 
 3. I have reviewed the terms of the Credit Agreement and the other
Loan Documents. The financial statements for the fiscal [quarter] [year] of Borrower ended [_____] attached hereto as ANNEX 1 or otherwise delivered to the Administrative Agent pursuant to the requirements of
Section 5.1 of the Credit Agreement (the “Financial Statements”) present fairly in all material respects as of the date of each such statement the financial condition and results of operations of Borrower
and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied[, subject to normal year-end audit adjustments and the absence of footnotes]10. 
 4. No Default has occurred and is continuing as of the date hereof[, except for
____________]11. 
 5. There has been no change in GAAP or in the application thereof
applicable to Borrower and its consolidated Subsidiaries since the date of the audited financial statements referred to in Section 3.4 of the Credit Agreement that has had a material impact on the Financial Statements
[,except for [_______], the effect of which on the Financial Statements has been [_________]]12. 

6. Attached hereto as ANNEX 2 is the computation showing (in reasonable detail) Liquidity of the Loan Parties as of the last day of the
most recent fiscal quarter covered by the financial statements. [I hereby certify that the conditions to borrowing set forth in clauses (b), (c) and (d) of Section 4.2 of the Credit Agreement are satisfied as of the
Computation Date (as defined in ANNEX 2).]13 
  
  

 
  

 

	10 	 To be included only if the Compliance Certificate is certifying the quarterly financials.

	11 	 Specify the details of any Default, if any, and any action taken or proposed to be taken with respect thereto.

	12 	 If and to the extent that any change in GAAP that has occurred since the date of the audited financial
statements referred to in Section 3.4 of the Credit Agreement had an impact on such financial statements, specify the effect of such change on the financial statements accompanying this Compliance Certificate. 

	13 	 To be included if the amount of Available Revolving Commitments set forth in ANNEX 2 is greater than $0.

 IN WITNESS WHEREOF, I have executed this Compliance Certificate as of the date first written
above. 
  

			
	TOAST, INC.
		
	By:	 	      

		 	Name:
		 	Title:

 ANNEX 1 

[Applicable Financial Statements to be attached if applicable] 

 ANNEX 2 

The information described herein is as of [____________, _______]14 (the “Computation
Date”) and, except as otherwise indicated below, pertains to the period from [the Effective Date][____________, _______]15 to the Computation Date. 

Liquidity 
  

					
	a.	  	(i) Unrestricted cash and Cash Equivalents plus (ii) Marketable Securities held by Borrower and its Restricted Subsidiaries	  	$_______________
			
	b.	  	Available Revolving Commitments	  	$_______________
			
	c.	  	Sum of line a and line b	  	$_______________

  
  

 

	14 	 Insert the last day of the respective fiscal quarter or fiscal year covered by the financial statements which
are required to be accompanied by this Compliance Certificate. 

	15 	 Insert the Effective Date, in the case of the first Compliance Certificate and thereafter, the first day of the
most recently completed fiscal quarter of Borrower ended on the Computation Date. 

 EXHIBIT F 

[FORM OF] 
 MATURITY DATE
EXTENSION REQUEST 
 JPMorgan Chase Bank, N.A., as Administrative Agent 

for the Lenders parties to the 

Credit Agreement referred to below 
 [10 South
Dearborn, Floor L2, Suite IL 1-1145, Chicago, Illinois 60603-2300 
 Attention: JPMorgan Loan Services (Email:
jpm.agency.servicing.l@jpmorgan.com)] 
 [Date] 
 Ladies and
Gentlemen: 
 Reference is made to the Revolving Credit and Guaranty Agreement, dated as of June 8, 2021 (as it may be amended,
restated, amended and restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined), by and among Toast,
Inc., a Delaware corporation, the Guarantors from time to time party thereto, the Lenders and Issuing Banks from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (together with its permitted successors in such
capacity, “Administrative Agent”) and Swing Line Lender. In accordance with Section 2.20 of the Credit Agreement, the undersigned hereby requests [(i)] an extension of the Maturity Date from [_________],
20[__] to [_________], 20[__], [(ii) the following changes to the Applicable Rate to be applied in determining the interest payable on Loans of, and fees payable under the Credit Agreement to, Consenting Lenders in respect of that portion of their
Commitments (and related Loans) extended to such new Maturity Date, which changes shall become effective on [_________], 20[__]] [and] [(iii) the amendments or modifications to the terms of the Credit Agreement to be effected in connection with this
Maturity Date Extension Request as set forth below, which amendments shall become effective on [_________], 20[__]: 
 [____________]] 

 

			
	TOAST, INC., as Borrower
		
	By:	 	  

		 	Name:
		 	Title:

 The undersigned consents to the requested amendments to the terms of the Credit Agreement
and further consents [(a)] in its capacity as a Lender, to the requested extension of the Maturity Date with respect to $[___] of its Commitments [and (b) in its capacity as an Issuing Bank, to the requested extension of the Maturity Date with
respect to $[___] of its Issuing Bank Sublimit]. 
  

			
	Name of Institution: [_____], as Lender [and Issuing Bank],
	
	  

		
	By:	 	  

		 	Name:
		 	Title:
	
	For any Institution requiring a second signature line:
		
	By:	 	  

		 	Name:
		 	Title:

 EXHIBIT G 

[FORM OF] 
 COUNTERPART
AGREEMENT 
 This Counterpart Agreement, dated [____] (this “Counterpart Agreement”) is delivered pursuant to the Revolving Credit and
Guaranty Agreement, dated as of June 8, 2021 (as it may be amended, restated, amended and restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined therein and not otherwise
defined herein being used herein as therein defined), by and among Toast, Inc., a Delaware corporation (the “Borrower”), the Guarantors from time to time party thereto, the Lenders from time to time party thereto (the
“Lenders”), the Issuing Banks from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (together with its permitted successors in such capacity, “Administrative Agent”) and Swing Line
Lender. 
 Section 1. Pursuant to Section 5.10 of the Credit Agreement, the undersigned (the
“New Guarantor”) hereby 
 (a) agrees that this Counterpart Agreement may be attached to the Credit Agreement and that by the execution and
delivery hereof, the undersigned becomes a Guarantor under the Credit Agreement and agrees to be bound by all of the terms thereof with the same force and effect as if originally named therein as a Guarantor; and 

(b) represents and warrants that each of the representations and warranties set forth in the Credit Agreement (other than such representations and warranties
that relate solely to facts and conditions as of the Effective Date) and applicable to the undersigned is true and correct in all material respects as of the date hereof; provided that in each case, such materiality qualifier shall not be
applicable to any representations and warranties that already are qualified or modified by materiality or “Material Adverse Effect” in the text thereof. 

Section 2. Neither this Counterpart Agreement nor any term hereof may be changed, waived, discharged or terminated, except by an
instrument in writing signed by the party (including, if applicable, any party required to evidence its consent to or acceptance of this Counterpart Agreement) against whom enforcement of such change, waiver, discharge or termination is sought. Any
notice or other communication herein required or permitted to be given shall be given to the Borrower in accordance with Section 10.1 of the Credit Agreement. In case any provision in or obligation under this Counterpart
Agreement shall be invalid or unenforceable in any jurisdiction, the validity and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired
thereby. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by facsimile or in electronic (i.e., “pdf’ or “tif’) format shall be effective as delivery of a manually executed counterpart of
this Assignment and Assumption 
 THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. THE TERMS
AND PROVISIONS OF SECTION 10.9(B) OF THE CREDIT AGREEMENT ARE INCORPORATED BY REFERENCE HEREIN AS IF FULLY SET FORTH HEREIN. 

[Remainder of page intentionally left blank] 

 IN WITNESS WHEREOF, the undersigned has caused this Counterpart Agreement to be duly
executed and delivered by its duly authorized officer as of the date above first written. 
  

			
	[NAME OF NEW GUARANTOR]
		
	By:	 	  

		 	Name:
		 	Title:

 ACKNOWLEDGED AND ACCEPTED, as of the date above first written: 

JPMORGAN CHASE BANK, N.A., 

			
	as Administrative Agent
		
	By:	 	  

		 	Name:
		 	Title:

 EXHIBIT H 

[FORM OF] 
 SOLVENCY
CERTIFICATE 
 [Date] 

THE UNDERSIGNED HEREBY CERTIFIES AS FOLLOWS: 

1. I am the [title of a Financial Officer] of Toast, Inc., a Delaware corporation (the “Borrower”). 

2. Reference is made to Revolving Credit and Guaranty Agreement, dated as of June 8, 2021 (as it may be amended, restated, amended and
restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined), by and among Borrower, the Guarantors from
time to time party thereto, the Lenders from time to time party thereto (the “Lenders”), the Issuing Banks from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent (together with its permitted
successors in such capacity, “Administrative Agent”) and Swing Line Lender. 
 3. I have reviewed the Credit Agreement and
the other Loan Documents and the contents of this Solvency Certificate and, in connection herewith, have reviewed such other documentation and information and, in my opinion, have made, or have caused to be made under my supervision, such
examination or investigation as is necessary to enable me to express an informed opinion as to the matters referred to herein. 
 4. Based
upon my review and examination described in paragraph 3 above, I certify in my capacity as a Financial Officer of the Borrower and not in any individual capacity that, as of the date hereof, the Borrower is, together with its Restricted
Subsidiaries, after giving effect to the transactions contemplated by the Credit Agreement and the other Loan Documents (assuming for this purpose that the full amount of the Commitments is drawn on the date hereof), Solvent. 

[Remainder of page intentionally left blank] 

 IN WITNESS WHEREOF, the undersigned has hereunto set his/her name as of the date
first written above 
  

			
	TOAST, INC.
		
	By:	 	  

		 	Name:
		 	Title: [Financial Officer]

 EXHIBIT I-1 

[FORM OF] 
 PORTFOLIO
INTEREST CERTIFICATE 
 (For Foreign Lenders That Are Not Partnerships for U.S. Federal Income Tax Purposes) 

Reference is made to that certain Revolving Credit and Guaranty Agreement, dated as of June 8, 2021, among Toast, Inc., a Delaware
corporation, the Guarantors party thereto, the Lenders and Issuing Banks party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent and Swing Line Lender (as modified, supplemented, extended, amended, restated or amended and restated from
time to time, the “Credit Agreement”). 
 Pursuant to the provisions of Section 2.16(e) of the
Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a
“bank” within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code and (iv) it is not a
“controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned
has furnished the Administrative Agent and the Borrower with a certificate of its non-U.S. Person status on IRS Form W-8BEN-E or
IRS Form W-8BEN, as applicable. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the
Borrower and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each
payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined
herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
 [SIGNATURE
PAGE FOLLOWS] 

  
 Exhibit I-1 

			
	[NAME OF LENDER]
		
	By:	 	  

		 	Name:
		 	Title:

 Date: ___________ ___, 20[___] 
  

  
 Exhibit I-1 

 EXHIBIT I-2 

[FORM OF] 
 PORTFOLIO
INTEREST CERTIFICATE 
 (For Foreign Participants That Are Not Partnerships for U.S. Federal Income Tax Purposes) 

Reference is made to that certain Revolving Credit and Guaranty Agreement, dated as of June 8, 2021, among Toast, Inc., a Delaware
corporation, the Guarantors party thereto, the Lenders and Issuing Banks party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent and Swing Line Lender (as modified, supplemented, extended, amended, restated or amended and restated from
time to time, the “Credit Agreement”). 
 Pursuant to the provisions of Section 2.16(e) of the
Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a “bank” within the meaning of
Section 881(c)(3)(A) of the Code, (iii) it is not a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, and (iv) it is not a “controlled foreign corporation”
related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished its participating Lender
with a certificate of its non-U.S. Person status on IRS Form W-8BEN-E or IRS Form W-8BEN,
as applicable. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at
all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
 [SIGNATURE PAGE FOLLOWS] 

  
 Exhibit I-2 

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

		 	Name:
		 	Title:

 Date: ___________ ___, 20[___] 

Exhibit I-2 

 EXHIBIT I-3 

[FORM OF] 
 PORTFOLIO
INTEREST CERTIFICATE 
 (For Foreign Participants That Are Partnerships for U.S. Federal Income Tax Purposes) 

Reference is made to that certain Revolving Credit and Guaranty Agreement, dated as of June 8, 2021, among Toast, Inc., a Delaware
corporation, the Guarantors party thereto, the Lenders and Issuing Banks party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent and Swing Line Lender (as modified, supplemented, extended, amended, restated or amended and restated from
time to time, the “Credit Agreement”). 
 Pursuant to the provisions of Section 2.16(e) of the
Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners
of such participation, (iii) with respect to such participation, neither the undersigned nor any of its direct or indirect partners/members is a “bank” extending credit pursuant to a loan agreement entered into in the ordinary course
of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a “10 percent shareholder” of the Borrower within the meaning of
Section 881(c)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a “controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by one of the
following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form
W-8BEN-E, as applicable, or (ii) an IRS Form W-8IMY accompanied by an IRS Form
W-8BEN or IRS Form W-8BEN-E, as applicable, from each of such partner’s/member’s beneficial owners that is claiming the
portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have
at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
 [SIGNATURE PAGE FOLLOWS] 

  
 Exhibit I-3 

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

		 	Name:
		 	Title:

 Date: ___________ ___, 20[___] 

Exhibit I-3 

 EXHIBIT I-4 

PORTFOLIO INTEREST CERTIFICATE 

(For Foreign Lenders That Are Partnerships for U.S. Federal Income Tax Purposes) 

Reference is made to that certain Revolving Credit and Guaranty Agreement, dated as of June 8, 2021, among Toast, Inc., a Delaware
corporation, the Guarantors party thereto, the Lenders and Issuing Banks party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent and Swing Line Lender (as modified, supplemented, extended, amended, restated or amended and restated from
time to time, the “Credit Agreement”). 
 Pursuant to the provisions of Section 2.16(e) of the
Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect
partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan Document, neither the undersigned nor
any of its direct or indirect partners/members is a “bank” extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code,
(iv) none of its direct or indirect partners/members is a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a
“controlled foreign corporation” related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned
has furnished the Administrative Agent and the Borrower with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption:
(i) an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, or (ii) an IRS Form
W- 8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, from each
of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned
shall promptly so inform the Borrower and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the
calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
 [SIGNATURE PAGE FOLLOWS] 

			
	[NAME OF LENDER]
		
	By:	 	  

		 	Name:
		 	Title:

 Date: ___________ ___, 20[___] 

 EXHIBIT J 

[FORM OF] 
 CERTIFICATION
REGARDING BENEFICIAL OWNERS 
 OF LEGAL ENTITY CUSTOMERS 

I. GENERAL INSTRUCTIONS 

What is this form? 
 To help the
U.S. government fight financial crime, federal regulation requires certain financial institutions to obtain, verify, and record information about the beneficial owners of legal entity customers. Legal entities can be abused to disguise involvement
in terrorist financing, money laundering, tax evasion, corruption, fraud, and other financial crimes. Requiring the disclosure of key individuals who own or control a legal entity (i.e., the beneficial owners) helps U.S. law enforcement investigate
and prosecute these crimes. 
 Who has to complete this form? 

This form must be completed by the person opening a new account on behalf of a legal entity with a bank, a broker or dealer in securities, or certain other
types of U.S. financial institution, and the form must be completed at the time each new account is opened. For these purposes, opening a new account includes establishing a formal relationship with a broker-dealer or lender to effect transactions
in securities or for the extension of credit. 
 For the purposes of this form, a legal entity includes a corporation, limited liability company, or
other entity that is created by a filing of a public document with a Secretary of State or similar office, a general partnership, and any similar business entity formed in the United States or any other country. Legal entity does not include
sole proprietorships, unincorporated associations, or natural persons opening accounts on their own behalf. 
 What information do I
have to provide? 
 This form requires you to provide the name, address, date of birth and Social Security number (or passport number or other
similar information, in the case of non-U.S. persons) for the following individuals (i.e., the “beneficial owners”): 
  

	 	(i)	 A single individual with significant responsibility for managing the legal entity customer (e.g., a Chief
Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President, or Treasurer); and 

  

	 	(ii)	 Each individual, if any, who owns, directly or indirectly, 25% or more of the equity interests of the legal
entity customer (e.g., each natural person who owns 25% or more of the shares of a corporation). 

 The number of individuals that satisfy
this definition of “beneficial owner” may vary. Under section (i), only one individual needs to be identified. Under section (ii), depending on the factual circumstances, up to four individuals (but as few as zero) may need to be
identified. It is possible that in some circumstances the same individual might be identified under both sections (e.g., the President of Acme, Inc. who also holds a 30% equity interest). Thus, a completed form will contain the identifying
information of at least one individual (under section (i)), and up to five individuals (i.e., one individual under section (i) and four 25% equity holders under section (ii)). 

 This form also requires you to provide copies of (1) the legal formation document for each legal entity
(i.e., the issuer, borrower, or selling securityholder) listed on this form (e.g., Certificate of Incorporation, LLC Agreement, Partnership Agreement, etc.), and (2) a driver’s license, passport or other identifying document for each
beneficial owner listed on this form. 
 II. EXCLUSIONS (IF APPLICABLE) 

If you believe the legal entity listed in Section III, paragraph (b) below falls under an express exclusion from the “legal entity customer”
definition under 31 C.F.R. §1010.230(e)(2), please check the box below and identify the applicable exclusion: 
  

	 	☐	 An exclusion applies to the legal entity identified in paragraph (b) of Section III below.

 Applicable exclusion:_______________________________________________ 

If the box above is checked, please skip paragraphs (c) and (d) of Section III below. 

III. IDENTIFICATION OF BENEFICIAL OWNER(S) 

For the benefit of each of the financial institutions involved in the applicable sale of securities or extension of credit for which this certification is
provided, the following information is hereby provided on behalf of the Issuer/Borrower/Selling Securityholder legal entity customer listed below: 
  

	a.	 Individual Opening Account. Name and Title of Natural Person Opening Account and Completing
Certification on Behalf of Legal Entity Customer: 

  
  

 

	b.	 Legal Entity Customer. Name, Type, and Principal Business Address of Issuer/Borrower/Selling
Securityholder Legal Entity Customer for Which the Account is Being Opened: 

 Each of the entities identified on Annex I
hereto 
  
  

Please attach a copy of the legal formation document for each legal entity listed above (e.g., Certificate of Incorporation, LLC Agreement,
Partnership Agreement, etc.). 
  

	c.	 Control Prong. The following information for one individual with significant responsibility for
managing the Issuer/Borrower/Selling Securityholder legal entity customer listed above, such as: 

  

	 	☐	 An executive officer or senior manager (e.g., Chief Executive Officer, Chief Financial Officer, Chief Operating
Officer, Managing Member, General Partner, President, Vice President, Treasurer); or 

  

	 	☐	 Any other individual who regularly performs similar functions. 

  
 Page 2 of 4 

									
	 Name/Title
	  	 Date of Birth
	  	 Address (Residential

or Business Street

Address)
	  	 For U.S. Persons: 

Social Security

Number
	  	 For
Non-U.S.
 Persons: Social

Security Number,
 Passport
Number
 and Country of

Issuance, or other
 similar
identification
number161

Please attach copies of a driver’s license, passport or other identifying document for each individual listed above. 

 

	d.	 Ownership/Equity Prong. The following information for each individual, if any, who, directly or
indirectly, through any contract, arrangement, understanding, relationship or otherwise, owns 25% or more of the equity interests of the Issuer/Borrower/Selling Securityholder legal entity customer listed above: 

 

									
	 Name/Title
	  	 Date of Birth
	  	 Address (Residential

or Business Street

Address)
	  	 For U.S. Persons: 

Social Security

Number
	  	 For
Non-U.S.
 Persons: Social

Security Number,
 Passport
Number
 and Country of

Issuance, or other
 similar
identification
number171

(If appropriate, an individual listed under section (c) above may also be listed in this section (d)). 

Please attach copies of a driver’s license, passport or other identifying document for each individual listed above. 

 

	 	☐	 Equity Owner Not Applicable (Please check this box if there is no individual who owns 25% or more of the equity
interest of the legal entity listed above.) 

 IV. ACKNOWLEDGEMENT; SIGNATURE 

I, ________________________, in my capacity as of the Issuer/Borrower/Selling Securityholder listed above and not in my individual capacity, hereby:

 (a) acknowledge and authorize on behalf of the Issuer/Borrower/Selling Securityholder and each beneficial owner identified in
paragraphs (c) and (d) of Section III above that this certification and the attachments hereto may be provided to each of the financial institutions involved in the applicable sale of securities or extension of credit; 

 

	16 	 In lieu of a passport number, non-U.S. persons may also provide a
Social Security Number, an alien identification card number, or number and country of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard. 

	17 	 In lieu of a passport number, non-U.S. persons may also provide a
Social Security Number, an alien identification card number, or number and country of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or similar safeguard.

  
 Page 3 of 4 

 (b) agree on behalf of the Issuer/Borrower/Selling Securityholder identified above, from
the date hereof until the closing of the applicable sale of securities or the termination of the agreement providing for the applicable extension of credit, as the case may be, to notify each of the financial institutions involved in such
transaction of any change in the information provided herein that would result in a change to the list of beneficial owners identified in paragraph (c) or (d) of Section III above; 

(c) agree on behalf of the Issuer/Borrower/Selling Securityholder identified above, upon request by or on behalf of the financial
institutions involved in the applicable sale of securities or extension of credit, to provide documentation supporting any applicable exclusion identified in Section II above; and 

(d) certify, to the best of my knowledge, that the information provided above is complete and correct. 

Signature:______________________________________ Date:_____________________________________ 

Legal Entity Identifier ______________________________________(Optional) 

  
 Page 4 of 4 

 EXHIBIT-K 

[FORM OF] PERFECTION CERTIFICATE 

[Month] [Date], 20[ ] 
 Reference
is made to the Revolving Credit and Guaranty Agreement dated as of June 8, 2021 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among Toast, Inc. (the “Borrower” ),
the Guarantors party thereto, the Lenders and Issuing Banks party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, Collateral Agent and Swing Line Lender. Capitalized terms used but not defined herein have the meanings assigned
thereto in the Credit Agreement or the Collateral Agreement referred to therein, as applicable. 
 The undersigned, a Financial Officer of
the Borrower, hereby certifies to the Collateral Agent and each other Secured Party as follows: 
 1. Names, (a) Set forth on
Schedule 1(a), with respect to each Grantor, is (i) the exact legal name of such Grantor, as such name appears in its certificate of formation or organization, (ii) each other legal name such Grantor has had in the past five years,
together with the date of the relevant change, and (iii) each other name (including trade names or similar appellations used by such Grantor or any of its divisions or other business units in connection with the conduct of its business, the
ownership of its properties or in any Federal or state tax filings at any time during the past five years). 
 (b) Except as set forth on
Schedule 1(b), no Grantor has changed its legal identity or corporate structure in any way within the past five years. Changes in legal identity or corporate structure would include mergers, consolidations and acquisitions of all or substantially
all of the assets of (or all or substantially all of the assets constituting a business unit, division, product line or line of business of) another Person or other acquisitions of material assets outside the ordinary course of business, as well as
any change in the form or jurisdiction of organization or formation. With respect to any such change that has occurred within the past five years, set forth on Schedule 1(b) is the information required by clauses (i) and (ii) of
Section 1(a) above as to each acquiree, constituent or seller party to such merger, consolidation or acquisition (each, a “Predecessor Entity”). 

2. Current Locations, (a) Set forth on Schedule 2 opposite the name of each Grantor (and, in the case of clauses (i) and (ii),
each Predecessor Entity as of immediately prior to the relevant change in legal identity or corporate structure) is (i) the jurisdiction of formation or organization of such Person, (ii) the address of the chief executive office of such
Person and (iii) each location where such Grantor maintains any books or records relating to any Accounts. 
 3. UCC Filings.
Schedule 3 sets forth, with respect to each Grantor, the UCC filing office or county recorder’s office in which a UCC filing is required to be made to perfect the Collateral Agent’s security interest in the Collateral. 

4. Stock Ownership and other Equity Interests. Set forth on Schedule 4 is a true and complete list, for each Grantor, of all the stock,
partnership interests, limited liability company membership interests or other Equity Interests owned by such Grantor, specifying the issuer (including the jurisdiction of organization thereof) and certificate number of, and the number and
percentage of ownership represented by, such Equity Interests. 

  
 I-1-1 

 5. Debt Instruments. Set forth on Schedule 5 is a true and complete list, for each
Grantor, of all promissory notes and other evidence of Indebtedness, if any, evidencing (a) Indebtedness of the Borrower and each Subsidiary owing to such Grantor and (b) Indebtedness of any other Person in a principal amount of US
$1,000,000 or more, in each case specifying the debtor thereunder and the type and outstanding principal amount thereof. 
 6.
Intellectual Property, (a) Set forth on Schedule 6(a), in proper form for filing with the United States Patent and Trademark Office, is a true and complete list, with respect to each Grantor, of each United States Patent (including each
United States Patent application) owned by such Grantor, in each case specifying the name of the registered owner, type, registration or application number and the expiration date (if already registered) thereof. 

(b) Set forth on Schedule 6(b) is a true and complete list, with respect to each Grantor, of each Trademark (including each Trademark
application) registered (or applied for registration) with the applicable Government Authority of the United States owned by such Grantor, specifying the name of the registered owner, the registration or application number and the registration date
or application date (if already registered) thereof. 
 (c) Set forth on Schedule 6(c), in proper form for filing with the United States
Copyright Office, is a true and complete list, with respect to each Grantor, of (i) each United States Copyright (including each United States Copyright application) owned by such Grantor, specifying the name of the registered owner, the title
and the registration number (if already registered) thereof, and (ii) each exclusive United States Copyright License granted to such Grantor (with such Grantor as a licensee), including a brief description thereof and the licensee and licensor
thereunder. 
 7. Commercial Tort Claims. Set forth on Schedule 7 is a true and complete list of commercial tort claims in excess of
US $1,000,000 held by any Grantor, including a brief description thereof. 

  
 I-1-2 

 IN WITNESS WHEREOF, the undersigned has duly executed this certificate as of the date first
set forth above. 
  

			
	TOAST, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 I-1-3EX-10.9

 Exhibit 10.9 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKELY
CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED. 
  

			
	

	  	BANK CARD MERCHANT AGREEMENT

 This Bank Card Merchant Agreement is made among VANTIV. LLC (“Processor”) having its principal office at [***]. and
FIFTH THIRD BANK, an Ohio banking corporation (“Member Bank”) having its principal office at [***] and Toast Inc. (“Merchant”) having its principal office at [***]. Processor and Member Bank are collectively referred to as
“Bank”. Bank and Merchant hereby agree as follows: 

 

 I.    Bank participates in programs affiliated with MasterCard, VISA, Discover, and Other
Networks which enable holders of Cards to purchase goods and services from selected merchants located in the United States by use of their Cards 

II.    Merchant wishes to participate in the MasterCard. VISA, Discover, and the Other Networks systems at its United States locations by
entering into contracts with Cardholders and businesses for processing payments for the sale of goods and services through the use of Cards. 
 NOW,
THEREFORE, in consideration of the foregoing recitals and of the mutual promises hereinafter set forth, the parties agree as follows: 

1.     Definitions. 

For the purposes of this Agreement, the following terms shall have the meanings set forth below: 

Account shall mean an open checking account at Fifth Third Bank or its affiliate, or at another financial institution acceptable to Bank which Bank or
its agent can access through the ACH system. 
 Account Change means a change in the Account or the financial institution where the Account is
located. 
 ACH shall mean the Federal Reserve’s Automated Clearing House (“ACH”) system 

Agreement means this Bank Card Merchant Agreement, Price Schedule, and each exhibit, schedule, and addendum attached hereto or referencing this
Agreement, as well as all documents and other materials incorporated herein by reference. 
 Association means VISA. MasterCard. Discover, or any
Other Network, as the same are defined herein. 
 Bank Rules means the Bank Card Merchant Rules and Regulations, which are incorporated into this
Agreement by reference. 
 Cards shall mean MasterCard, VISA. Discover and Other Network cards. 

Cardholder shall mean any person authorized to use the Cards or the accounts established in connection with the Cards. 

Data Incident shall mean any alleged or actual compromise, unauthorized access, disclosure, theft, or unauthorized use of Card or Cardholder
information, regardless of cause, including without limitation, a breach of or intrusion into any system, or failure, malfunction, inadequacy, or error affecting any server, wherever located, or hardware or software of any system, through which Card
information resides, passes through, and/or could have been compromised. 
 Discover shall mean Discover Financial Services, LLC. 

Event of Default shall mean each event listed in Section 13. 

Float Event shall mean a circumstance where Bank, for whatever reason, advances settlement or any amounts and/or delays the assessment of any fees 

Force Majeure Event shall mean errors in data provided by Merchant or others, labor disputes, fire, weather or other casualty, power outages, and
funding delays, however caused, governmental orders or regulations, or any other cause, whether similar or dissimilar to the foregoing, in any case beyond Bank’s reasonable control which reasonably cause failure or delay in taking an action.

 Initial Term shall mean [***] from the date of implementation to Bank’s system.

 Member Bank shall mean a member of VISA, MasterCard and/or Other Networks, as applicable, that provides
sponsorship services in connection with this Agreement. As of the commencement of this Agreement, the Member Bank shall be Fifth Third Bank an Ohio banking corporation. 

Merchant Supplier shall mean a third party other than Bank used by Merchant in connection with the Services received hereunder, including but not
limited to, Merchant’s software providers, equipment providers, and/or third party processors. 
 MasterCard shall mean MasterCard
International, Inc. 
 Operating Regulations means the by-laws, operating regulations and/or all other rules,
policies and procedures of VISA. MasterCard, Discover, and/or Other Networks as in effect from time to time. 
 Other Network shall mean any network
or card association other than VISA. MasterCard, or Discover that is identified in the Merchant Price Schedule and in which Merchant participates hereunder. 

PCI shall mean the Payment Card Industry Data Security Standard. 

Service shall mean any and all services described in, and provided by Bank pursuant to, this Agreement. 

Sub-merchant shall mean a merchant (including government agencies) that contracts with a Payment Service
Provider (“PSP”) and/or o Payment Facilitator, as permitted in the Operating Regulations, to -obtain payment services. 

VISA shall mean VISA USA, Inc. 
 other defined terms and
Services applicable to this Agreement will be contained in a “General Services Addendum” as described herein 

2.    Bank Rules, Operating Regulations; General Services Addendum. Merchant acknowledges receipt and review of the
Bank Rules, which are incorporated into this Agreement by reference, Merchant agrees to fully comply with all of the terms and obligations in the then current Bank Rules as applicable as changed or updated by Bank from time to time, at Bank’s
sole reasonable discretion with notice accordance with Bank’s standard operating procedures Merchant agrees to participate in the Associations in compliance with, and subject to the Operating Regulations as applicable. Without limiting the
foregoing, Merchant agrees that it will fully comply with any and all confidentiality and security requirements of the USA Patriot Act (or similar taw. rule or regulation). VISA. MasterCard, Discover, and/or Other Networks, including but not limited
to PCI, the VISA Cardholder Information Security Program, the MasterCard Site Data Protection Program, and any other program or requirement that may be published and/or mandated by the Associations. Notwithstanding Bank’s assistance in
understanding the Operating Regulations, Merchant expressly acknowledges and agrees that it is assuming the risk of compliance with all provisions of the Operating Regulations as applicable, regardless of whether Merchant has possession of those
provisions. Both MasterCard and VISA make excerpts of their respective Operating Regulations available on their internet sites Other Services applicable to this Agreement will be contained in the General Services Addendum as may be published and
modified from time to time by Bank and the parties agree that such Addendum shall be incorporated into and made part of this Agreement and that such Addendum shall apply only with respect to those Services actually provided by Bank and received by
Merchant hereunder Merchant acknowledges receipt and review of the General Services Addendum. In the event of a conflict between the fees set forth on the Merchant Price Schedule and the General Services Addendum, the Merchant Price Schedule shall
control. 

 

  
 Bank Card Merchant
Agreement Page 1 of 6 

 3.    Application; Change in Business. Merchant represents that all
information supplied by Merchant in connection with its application or other request for services is complete and accurate In accordance with Section 326 of the USA Patriot Act, Bank is required to review and record information from the
documents used in identifying new merchant customers. The preceding sentence is intended to inform Merchant of Bank’s procedures and of Bank’s responsibility under the USA Patriot Act. Merchant agrees to provide Bank with [***] prior
written notice of Merchant’s intent to change its business form or entity in any manner (e.g. a change from a limited liability company to a corporation), and/or of Merchant’s intent to sell its stock or assets to another entity 

4.    Card Acceptance. When accepting any Card and completing any Card transaction. Merchant shall follow all
procedures and rules in the Bank Rules and the Operating Regulations as applicable In the event Bank for whatever reason is unable to obtain, or due to system delays chooses not to wait to obtain, authorization from an Association. Bank may at its
option “stand-in” for such entities and authorize the sales transaction based on criteria established by Bank, and Merchant remains responsible for such sales transaction in accordance with this
Agreement Merchant has identified to Bank the products and/or services for which it intends to accept Cards as payment. Merchant agrees that it shall only complete and deliver to Bank sales transactions produced as the direct result of bona fide
sales made by Merchant to Cardholders for such identified products and/or services, unless otherwise agreed by Bank in writing 

5.    Transaction Processing. Bank will initiate payment to Merchant of the total face amount of each sales
transaction acquired and accepted hereunder, subject to the terms and conditions of this Agreement, the Bank Rules, the Operating Regulations, and applicable law, after Bank receives payment for such sales transactions. Unless otherwise agreed to in
writing by Bank, Merchant shall electronically deliver to Bank and in a format acceptable to Bank all credit vouchers and sales transaction records within [***] after the applicable transaction date (or such shorter period as determined by
the applicable Association), except (i) in the case of a delayed merchandise delivery, when the sales transaction record shall be delivered within [***] of the merchandise delivery or (ii) as specified otherwise in the Bank Rules. Merchant
agrees that it shall deliver sales transaction records to Bank at least [***]. The preparation and delivery to Bank by Merchant of sales transactions shall constitute an endorsement to Bank by Merchant of each sales transaction, and Merchant
authorizes Bank or its representative to place Merchant’s endorsement on any sales transaction at any time. Bank may refuse to acquire any sales transaction or claim the amount of which, in whole or in part, it could charge back to the Merchant
pursuant to this Agreement, if it had acquired the sales transaction or claim. Merchant acknowledges and agrees that Bank is not responsible for any action or inaction taken by the financial institution or other entity that issued the Card(s) to the
Cardholder or the processor of such Card(s). Merchant agrees that Bank may set off any amounts due to Bank from amounts owed to Merchant, including but not limited to any amounts owed to
Merchant from Bank and/or any of its affiliate(s). 
 6.    Exception Items. Merchant agrees to reacquire and pay
Bank the amount of any sales transaction, and Bank shall have the right at any time to charge Merchant’s Account therefore with notice in accordance with Bank’s standard operating procedure, for any return (whether or not a credit voucher
is delivered to Bank), chargeback, compliance case, any other similar Association action, or if the extension of credit for merchandise sold or services or sales transactions performed was in violation of law or the rules or regulations of any
governmental agency, federal, state, local or otherwise; or if Bank has not received payment for any sales transaction, notwithstanding Bank’s prior payment to Merchant for such sales transaction pursuant to Section 5 above or any other
section Not limiting the generality of the foregoing, Merchant agrees that any operational and/or other Services performed on behalf of Merchant, including but not limited to, production of facsimile drafts in response to copy requests, response to
compliance cases, augmentation of Merchant data for interchange, transaction stand-in, digital draft storage and retrieval, etc. shall in no way affect Merchant’s obligations and liability in this
Agreement including those in the foregoing sentence. Merchant may instruct Bank in the defense of chargebacks, compliance cases and similar actions, and Merchant agrees that it will promptly provide any such instructions to Bank.

 7    Merchant Suppliers. Merchant may use one or more Merchant
Suppliers in connection with the Services and/or the processing of some or all of its Card transactions. In no event shall Merchant use a Merchant Supplier unless such Merchant Supplier is compliant with PCI and/or the Payment Application Data
Security Standard (“PA- DSS ), depending on the type of Merchant Supplier, as required by the Operating Regulations. Merchant acknowledges and agrees that Merchant shall cause its Merchant Supplier to
complete any steps or certifications required by any Association (e g . registrations, PA-DSS. PCI, audits, etc ). Merchant shall cause its Merchant Supplier to cooperate with Bank in completing any such steps
or certifications (if applicable), and in performing any necessary due diligence on such Merchant Supplier. Merchant shall be solely responsible for any and all applicable fees, costs, expenses and liabilities associated with such steps,
registrations, and certifications. Merchant shall bear all risk and responsibility for conducting Merchant’s own due diligence regarding the fitness of any Merchant Supplier(s) for a particular purpose and for determining the extent of such
Merchant Supplier’s compliance with the Bank Rules, the Operating Regulations, and applicable law. Merchant expressly agrees that Bank shall in no event be liable to Merchant or any third party for any actions or inactions of any Merchant
Supplier used by Merchant, even if Bank introduced and/or recommended the use of such Merchant Supplier to Merchant, or never objected to the use of such Merchant Supplier, and Merchant hereby expressly assumes all such liability. 

8.    Cardholder Information. Merchant shall not disclose, sell, purchase, provide, or exchange Cardholder name,
address, account number or other information to any third party other than to Bank or an Association for the purpose of completing a sales transaction unless specifically permitted by the Operating Regulations Merchant represents and warrants that
neither it nor its Merchant Supplier shall retain or store any portion of the magnetic-stripe data subsequent to the authorization of a sales transaction, nor any other data prohibited by the Operating Regulations, the Bank Rules, and/or this
Agreement. 
 9.    Term. The term of this Agreement shall commence the date Bank executes this Agreement, and
shall continue for the Initial Term as defined in Section 1 of this Agreement. Except as hereafter provided unless either party gives written notice to the other party at least [***] prior to the expiration of any term, the Agreement including
all addenda, schedules and exhibits hereto or referencing this Agreement shall be automatically extended for additional periods equal to the Initial Term. All obligations of a party incurred or existing under this Agreement as of the date of
termination, shall survive such termination. 
 10.    Bank Fees. Merchant agrees to pay Bank the fees, expenses
and all other amounts set forth in the Agreement including, but not limited to, the Merchant Price Schedule. Bank may change or add fees and/or charges upon notice to Merchant in accordance with Bank’s standard operating procedure, and such
fees and/or charges shall be immediately payable by Merchant when assessed by Bank. In the event Bank changes or adds its fees and/or charges pursuant to the immediately preceding sentence (“Fee Change”), Merchant may. subject to the
following provisions, terminate the Agreement upon [***] advance written notice to Bank provided Bank receives such written notice from Merchant of its intention to so terminate within [***] of the date the Fee Change becomes effective. Upon
Bank’s receipt of Merchant’s written notice pursuant to the immediately preceding sentence. Bank shall have [***] to rescind or waive the Fee Change, and. in the event Bank elects to rescind or waive the Fee Change, Merchant shall not have
the right to terminate this Agreement as a result of the Fee Change and this Agreement shall remain in full force and effect notwithstanding Merchant’s written notice to terminate Merchant acknowledges and agrees that this Section shall not be
intended or construed to permit Merchant to terminate the Agreement as a result of a change or increase in fees from third parties and/or in pass through fees as referenced in this Agreement or the Merchant Price Schedule At Merchant’s request.
Bank may. in its sole discretion, establish multiple Merchant billing definitions on its system, and in such event Bank shall assess all applicable fees separately and independently with respect to each such billing definition.

 

  
 Bank Card Merchant
Agreement Page 2 of 6 

 11.    Third Party Assessments. Notwithstanding any other provision of
this Agreement, Merchant shall be responsible for all amounts imposed or assessed to Merchant and/or Bank in connection with this agreement by third parties such as. but not limited to. VISA MasterCard. Discover, Other Networks, and Merchant
Suppliers (including telecommunication companies). Such amounts include, but are not limited to. fees, fines, assessments, penalties, loss allocations, etc Any changes or increases in such amounts shall automatically become effective upon notice to
Merchant in accordance with Bank’s standard operating procedure and shall be immediately payable by Merchant when assessed by Bank. In the event of a Float Event, Bank reserves the right to assess to Merchant, and Merchant shall pay to Bank, a
cost of funds associated with the Float Event (which Bank may at its option assess as a transaction surcharge), the amount of which shall be determined by Bank in its reasonable discretion, and which may be changed by Bank from time to time, and
such cost of funds shall be effective as of the start of the Float Event and shall be immediately payable by Merchant when assessed by Bank. 

12.    [***]. 

13.    Default The following events shall be considered an “Event of Default” 

(i)    Merchant becomes subject to any voluntary or involuntary bankruptcy, insolvency, reorganization or liquidation proceeding, a
receiver is appointed for Merchant, or Merchant makes an assignment for the benefit of creditors, or admits its inability to pay its debts as they become due; or 

(ii)    Merchant fails to pay or reimburse the fees, expenses or charges referenced herein when they become due; or 

(iii)    Merchant is in default of any terms or conditions of this Agreement whether by reason of its own action or inaction or that of
another if not cured after [***] written notice; or 
 (iv)    Bank reasonably believes that there has been a material deterioration in
Merchant’s financial condition; or 
 (v)    any standby letter of credit, if and as may be required pursuant to Section 20.
will be cancelled, will not be renewed, or is not in full force 
 (vi)    Merchant ceases to do business as a going concern, or there
is a change in ownership of Merchant which changes the identity of any person or entity having, directly or indirectly, more than 50% of either the legal or beneficial ownership of Merchant and Bank reasonably, believes that such change may have a
material adverse impact on Merchant’s financial condition. 
 Upon the occurrence of an Event of Default. Bank may at any time thereafter terminate
this Agreement by giving Merchant written notice thereof provided that for termination pursuant to (iii) above, Merchant actually receives such notice of termination within [***] after the end of such cure period except in instances where such
earlier termination is required by the Associations or the Event of Default is unlawful poses material risk to Bank. Termination of Merchant for any reason shall not relieve Merchant from any liability or obligation to Bank. Except for the reason
set forth in romanette (vi), if, prior to the date on which the then current term of this Agreement is scheduled to expire, either this Agreement is terminated by Bank as specifically permitted by this Agreement, or Merchant for any reason
discontinues receiving the Services from Bank (except as may be specifically permitted by this Agreement), Merchant shall be liable to Bank for liquidated damages in an amount equal to [***]. Merchant recognizes and agrees that the liquidated
damages are fair and reasonable because it is not possible to establish the actual increase in volume and activity by Merchant during the term of this Agreement. Merchant shall also reimburse Bank for any damage, loss or expense incurred by Bank as
a result of a breach by Merchant, including any damages set forth in any addendum and/or schedule and/or exhibit hereto and including all past due. unpaid and/or future invoices for services rendered by Bank in connection with this Agreement. All
such amounts shall be due and payable by Merchant upon demand. Bank shall also have the option to require Merchant to reacquire all outstanding sales transactions acquired by Bank hereunder In addition to, and not in limitation of the foregoing,
Bank may refuse to provide the Services in the event it has not been paid for the Services as provided herein.

 14.    Bank Nonperformance. In the event Merchant, in good faith,
reasonably believes that Bank has substantially failed to provide the Services, other than as a result of a failure by Merchant (or any Merchant Supplier, or other third party acting at the request of or on behalf of Merchant) to perform any
obligation under the Agreement or any Force Majeure Event, Merchant agrees to notify Bank in writing within [***] of the date upon which such failure first occurred. Merchant agrees that such notice shall be sent in accordance with the terms of this
Agreement, and shall specifically describe the nature of such failure by Bank, specify the date such failure first occurred and specifically reference this section, Bank will attempt to resolve such failure within [***] of Bank’s actual receipt
of such notice from Merchant. Should Bank not resolve such failure within the cure period described in the foregoing sentence, Merchant may terminate this Agreement upon [***] prior written notice to Bank, provided Bank actually receives such notice
of termination within [***] after the end of such cure period. 
 15.    Taxes. Any sales, use. excise or other
taxes (other than Bank’s income taxes) payable in connection with or attributable to the Services provided to the Merchant per this Agreement shall be paid by Merchant. Bank may, but shall not have the obligation to, pay such taxes. In the
event Bank pays such taxes, Merchant shall immediately reimburse Bank or Bank may. at Bank’s sole option, charge Merchant’s Account. 

16.    Binding on Successors; Assignment. This Agreement and all of the provisions hereof shall be binding upon and
inure to the benefit of the parties hereto and their respective heirs, administrators, successors, transferees and assignees Neither this Agreement nor any interest herein may directly or indirectly be transferred or assigned by Merchant, in whole
or in part, without the prior written consent of Bank, which will not be unreasonably delayed or withheld;. Merchant will remain liable for any amounts owed under this Agreement after an unauthorized transfer or assignment by Merchant, even if Bank
continues to provide Services to such transferee or assignee This Agreement is for the benefit of. and may be enforced only by. Bank and Merchant and their respective successors and permitted transferees and assignees, and is not for the benefit of,
and may not be enforced by, any third party. 
 17.    Notices. All notices, requests, demands and other
communications to be delivered hereunder unless specified otherwise herein shall be in writing and shall be delivered by nationally recognized overnight carrier, registered or certified mail, postage prepaid, to the following addresses: 

(i)    [***]. 

(ii)    if to the Merchant address provided above, Attention President/Owner; or to such other address or to such other person as either
party shall have last designated by written notice to the other party. 
 Notices etc., so delivered shall be deemed given upon receipt. 

18.    Unenforceable Provision. If any term or provision of this Agreement or any application thereof shall be
invalid or unenforceable, the remainder of this Agreement and any other application of such term or provision shall not be affected thereby. 

19.    Payment. Merchant shall always maintain an open Account. Merchant irrevocably authorizes Bank to debit and/or
credit the Account to settle any and all fees and other amounts due Bank under this Agreement, and such authority shall remain in effect for a period of [***] following the date of termination of this Agreement, regardless of whether Merchant has
notified Bank of an Account Change as defined below Merchant shall always maintain the Account with sufficient cleared funds to meet its obligations under this Agreement. In the event Merchant desires an Account Change, Merchant shall give Bank
[***] prior written notice in accordance with the provisions of Section 17 of any such change, and Bank shall use reasonable commercial efforts to effect such Account Change; however, such Account Change shall not be effective until the date on
which Bank actually makes such Account Change on Bank’s system. In no event shall Bank have any liability for any amounts directed to an Account that has been designated by any purported representative of Merchant or its Merchant Supplier at
any time during the term of this Agreement, regardless of any Account Change All amounts due Bank under this Agreement shall be paid without set-off or deduction, and shall be due from Merchant as of the date
Bank originates an ACH debit transaction record to Merchant’s Account Any fees not collected from Merchant by Bank when due shall bear interest at [***] but in no event more than the highest rate permitted by law The acceptance by Bank.
Bank’s affiliate or other financial institution of Merchant’s closing (or termination of) its Account shall not constitute a mutually agreed upon termination of this Agreement.

 

  
 Bank Card Merchant
Agreement Page 3 of 6 

 20.    Reserve; Letter of Credit. As a specifically bargained for
inducement for Bank to enter into this Agreement with Merchant. Bank at its option reserves the right to i) establish from amounts payable to Merchant hereunder, and/or cause Merchant to pay to Bank, a reserve of funds satisfactory to Bank to cover
anticipated fees, chargebacks, returns and any other applicable assessments and/or ii) require Merchant to establish an irrevocable standby letter of credit, including additional and/or replacement letters of credit if required by Bank, with a
beneficiary designated by Bank, and which are issued from a financial institution other than Fifth Third Bank or any of its affiliates, that is acceptable to Bank, in a format, with an expiration date, and in an amount acceptable to Bank in its sole
discretion In the event Merchant fails to establish, for any reason whatsoever, a reserve and/or a letter of credit as required above, Bank shall have all of the rights and remedies available to Bank in this Agreement, including but not limited to
exercising the rights and remedies of Bank in Section 13. In the event Bank exercises its right to establish a reserve or require a letter of credit pursuant to this Section, Merchant may. subject to the following provisions, terminate the
Agreement upon [***] advance written notice to Bank provided Bank receives such written notice from Merchant of its intention to so terminate within [***] of the date on which Bank establishes the reserve or requires the letter of credit Upon
Bank’s receipt of Merchant’s written notice pursuant to the immediately preceding sentence, Bank may, at its option, return the reserve to Merchant or waive the requirement for a letter of credit, and, in the event Bank elects to return
the reserve to Merchant or waive the requirement for a letter of credit. Merchant shall not have the right to terminate this Agreement pursuant to this Section and this Agreement shall remain in full force and effect notwithstanding Merchants
written notice to terminate. 
 21.    [reserved] 

22.    Indemnification. Subject to the other limitations, terms and conditions of this Agreement, Bank shall
indemnify, defend, and hold harmless Merchant, and its directors, officers, employees, affiliates and agents from and against all third party proceedings, claims, losses, damages, demands, liabilities and expenses whatsoever including all reasonable
legal and accounting fees and expenses and all reasonable collection costs, incurred by Merchant, its directors, officers, employees, affiliates and agents to the extent resulting from or arising out of [***]. Merchant shall indemnify, defend, and
hold harmless Bank. and its directors, officers, employees, affiliates and agents from and against all third party proceedings, claims, losses, damages, demands, liabilities and expenses whatsoever, including all reasonable legal and accounting fees
and expenses and all reasonable collection cost incurred by Bank, its directors, officers, employees, affiliates and agents to the extent resulting from or arising out of the Services in this Agreement other than those attributable to Bank’s
gross negligence or willful misconduct. Merchant’s processing activities, the business of Merchant or its customers, any sales transaction acquired by Bank, any noncompliance with the Bank Rules and/or the Operating Regulations (or any rules or
regulations promulgated by or in conjunction with the Associations) by Merchant or its agent (including any Merchant Supplier), any Data Incident on Merchant’s (or Merchant Supplier’s) systems, any infiltration, hack, breach, or violation
of the processing system of Merchant or its Merchant Supplier, or any other third party processor or system, or by reason of any breach or nonperformance of any provision of this Agreement on the part of the Merchant, or its employees, agents,
Merchant Suppliers, or customers. The indemnification of each party shall survive the termination of the Agreement. 

23.    Review of Settlement Activity and Reports; Notice of Failure by Bank. Merchant agrees that it shall review all
reports, notices, and invoices prepared by Bank or its agent and made available to Merchant including but not limited to reports, notices, and invoices provided via Bank’s online reporting tool Bank reserves the right to send some or all of the
reports and/or invoices and/or notices of any pricing changes permitted under this Agreement via electronic transmission (e g., via e- mail) which Bank may change from time to time upon notice to Merchant in
accordance with Bank’s standard operating procedure Merchant expressly agrees that Merchant’s failure to notify Bank that Merchant has not received its settlement funds within [***] from the date that settlement was due to occur,, or fails
to reject any report, notice, or invoice within [***] from the date the report or invoice is made available to Merchant shall constitute Merchant’s acceptance of the same In the event Merchant believes that Bank has failed in any way to provide
the Services, Merchant agrees to provide Bank with written notice, specifically detailing any alleged failure, within [***] of the date on which the alleged failure first occurred.

 24.    Choice of Law; Jurisdiction; Venue. This Agreement shall be
governed by, and construed and enforced in accordance with, the laws of the State of Ohio without regard to conflicts of law provisions. The parties hereby consent and submit to service of process, personal jurisdiction, and venue in the state and
federal courts in Cincinnati. Ohio or Hamilton County, Ohio, and select such courts as the exclusive forum with respect to any action or proceeding arising out of or in any way relating to this Agreement, and/or pertaining in any way to the
relationship between Merchant and Bank. MERCHANT AND BANK HEREBY WAIVE THE RIGHT TO TRIAL BY JURY IN ANY MATTER UNDER. RELATED TO, OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTIONS OR RELATIONSHIPS CONTEMPLATED HEREBY. 

25.    Limit of Liability; Force Majeure. EXCEPT FOR THOSE EXPRESS WARRANTIES MADE IN THIS AGREEMENT, BANK DISCLAIMS
ALL WARRANTIES. INCLUDING. WITHOUT LIMITATION, ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. MERCHANT HEREBY ACKNOWLEDGES THAT THERE ARE RISKS ASSOCIATED WITH THE ACCEPTANCE OF CARDS AND MERCHANT HEREBY
ASSUMES ALL SUCH RISKS EXCEPT AS .MAY BE EXPRESSLY SET FORTH HEREIN. [***]. 
 26.    Controlling Documents. This
Agreement (including all addenda and schedules and exhibits hereto and all documents and materials referenced herein) supersedes any and all other agreements, oral or written, between the parties hereto with respect to the subject matter hereof, and
sets forth the complete and exclusive agreement between the parties with respect to the Services and, unless specifically provided for herein, other services are not included as part of this Agreement. If there is a conflict between the Bank Card
Merchant Agreement and an addendum or schedule or exhibit hereto, the addendum or schedule or exhibit shall control If there is a conflict between the Bank Rules and this Agreement, the Bank Rules shall prevail. If there is a conflict between
Operating Regulations and this Agreement, the Operating Regulations shall prevail. If there is a conflict between the Operating Regulations and the Bank Rules, the Operating Regulations shall prevail. 

27.    Bank’s Right to Suspend or Cease Services. Bank may suspend or cease providing any Service in this
Agreement if, in Bank’s reasonable opinion (i) such Service, violates or would violate the Operating Regulations. Bank Rules, or any federal, state or local statute or ordinance or any regulation, order or directive of any governmental
agency or court and/or (ii) if Merchant is accused by any federal, state or local jurisdiction of a violation of any applicable statute or ordinance or any regulation, order or directive of any governmental agency or court, or if Bank
reasonably believes, based upon the opinion of its legal counsel, that Merchant is in violation of any of the foregoing. Should Merchant not process sales transactions through Banks system for a period of one year or more. Bank may remove Merchant
from Bank’s systems without notice, without relieving Merchant from any of Merchant’s obligations under this Agreement. 

28.    Conversion; Deconversion. Merchant shall take all necessary steps to, and shall, promptly convert to
Bank’s system for the Services in this Agreement not later than [***] after the execution of this Agreement by Bank. Bank agrees that it shall not charge Merchant for Bank’s standard and customary internal testing and conversion
preparation in connection with Merchant’s initial conversion to Bank’s system at the commencement of this Agreement, or at conversion from Bank at termination of this Agreement. The foregoing shall not be deemed to limit Merchant’s
obligation to pay any third party fees and expenses incurred by Bank in connection with Merchant’s conversion, which shall remain the sole responsibility of Merchant.

 

  
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Agreement Page 4 of 6 

 29.    Confidential Information 

(a)    Confidential Information Supplied by Bank Merchant acknowledges that Bank will be providing Merchant with certain
confidential information, including but not limited to, this Agreement and information relating to the finances, systems, methods, techniques, programs, devices and operations of Bank and/or the Associations. Merchant shall not disclose any such
confidential information to any person or entity (other than to those employees and Merchant Suppliers of Merchant who participate directly in the performance of this Agreement and need access to such information). Provided, however, Merchant may
disclose information it receives as may be required by any federal, state or local ordinance, any regulation or directive of any governmental agency, or any court order or legal process. Without limiting the foregoing. Merchant agrees that it will
fully comply with any and all confidentiality and security requirements of the USA Patriot Act (or similar law, rule or regulation), VISA. MasterCard, Discover, and/or Other Networks. 

(b)    Confidential Information Supplied by Merchant. Bank acknowledges that Merchant will be providing Bank with certain
confidential information, including but not limited to, this Agreement and information relating to the methods, techniques, programs, devices, operations and performance or financial metrics of Merchant. Bank shall not disclose confidential and
proprietary information about Merchant to any person or entity (other than to those employees and agents of Bank who participate directly in the performance of this Agreement and need access to such information), acknowledges receipt of the Vantiv,
LLC privacy notice (“Privacy Notice”). Merchant should direct any questions or requests for another copy of the Privacy Notice to a Bank customer service representative or Merchant’s primary relationship manager, if applicable.
Notwithstanding anything to the contrary in Privacy Notice or this Agreement, Bank may share any information provided by Merchant and/or relevant to the Services received by Merchant (a) with Merchant’s franchisor, Merchant’s
franchisee(s), association(s) to which Merchant belongs and/or belonged as of the commencement of this Agreement, (b) any affiliate of Merchant; (c) in response to subpoenas, warrants, court orders or other legal processes; (d) in
response to requests from law enforcement agencies or government entities; (e) to comply with applicable laws or regulations; and/or (f) in the proper performance of the Services contemplated herein, 

(c)    Miscellaneous. The parties acknowledge that the injury would be sustained by the party disclosing information as a result of
the violation of this Section 29 cannot be compensated solely by money damages, and therefore agrees that the disclosing party shall be entitled to seek injunctive relief and any other remedies as may be available at law or in equity in the
event of a violation of the provisions contained in this Section 29. The restrictions contained in this Section 29 shall not apply to any information which becomes a matter of public knowledge, other than through a violation of this
Agreement or other agreements between the parties(. 
 (d)    Publicity. Merchant and Bank agree that they will work together to
issue a mutually agreeable joint press release after the execution of this agreement and/or after the conversion of Merchant to Bank’s Services. In any event, Merchant acknowledges and agrees that Bank may make public the execution of this
Agreement by Merchant and/or any of Merchant’s affiliates, and/or the Services that may be or have been provided under the Agreement Merchant agrees that Bank may include Merchant’s name and logo on a list of Bank’s customers, which
may be made public 
 30.    Financial Statements If at any time Merchant is not a publicly traded company,
Merchant shall provide Bank with an audited financial statement for Merchant’s most recent fiscal year end and/or quarterly financial statements prepared and certified by Merchant’s chief financial officer within [***] of Bank’s
request therefore. 
 31.    No Waiver. If either party waives in writing an unsatisfied condition, representation,
warranty, undertaking or agreement (or portion thereof) set forth herein, the waiving party shall thereafter be barred from recovering, and thereafter shall not seek to recover, any damages, claims, losses, liabilities or expenses, including,
without limitation, legal and other expenses, from the other party in respect of the matter or matters so waived. Except as otherwise specifically provided for in this Agreement, the failure of any party to promptly enforce its rights herein shall
not be construed to be a waiver of such rights unless agreed to in writing Any rights and remedies specifically provided for in any addendum or schedule or exhibit are in addition to those rights and remedies set forth in this Agreement and/or
available to Bank at law or in equity. 
 32.    Compliance with Law. 

Merchant represents and warrants to Bank that it will comply with all applicable federal, state and local laws and regulations in connection with
Merchant’s receipt of the Services and/or applicable to Merchant’s business operations. Processor will comply with federal, state and local laws and regulations applicable directly to Bank in its provision of the Services.

 33.    Security, Data Incidents Merchant will be solely responsible for
the security, quality, accuracy, and adequacy of all transactions and information supplied hereunder, and will establish and maintain adequate audit controls to monitor the security, quality, maintenance, and delivery of such data. Without limiting
the generality of the foregoing, Merchant warrants to Bank that it has implemented and will maintain secure systems for maintaining and processing information and for transmitting information to Bank. Bank shall have no liability whatsoever for the
security or availability of any communications connection used in connection with the Services provided hereunder, Merchant acknowledges that Bank is responsible only for the security of its own systems, and not for the systems of any third party,
including without limitation any Merchant Supplier of Merchant. Merchant shall notify Bank immediately if Merchant becomes aware of or suspects a Data Incident. Merchant agrees to fully cooperate with Bank and any Association with respect to any
investigation and/or additional requirements related to a suspected Data Incident. In the event of an actual or suspected breach, Bank agrees that it will provide Merchant with prompt notice (subject to requirements of law enforcement) of the
breach, including information, as is reasonably available to Bank in the conduct of contracted Services to Merchant sufficient to uniquely identify Merchant’s customers who are or could be affected. 

34.    Audits. At any reasonable time upon reasonable notice to Merchant, but not more ,than [***] per year unless
required by the Associations Merchant shall allow auditors, including the auditors of any Association or any third party designated by Bank or the applicable Association, to review the files held and the procedures followed by Merchant at any or all
of Merchant’s offices or places of business during normal business hours. Bank agrees that should it conduct an audit which is not required by the Operating Regulations or is not requested by an Association, such audit will be at Bank’s
sole expense, otherwise the audit shall be at Merchant s expense. Merchant will assist such auditors as may be necessary for them to complete their audit. In the event that a third-party audit is requested by an Association, and/or required by the
Operating Regulations, Bank may. at its option, and at Merchant’s sole expense, either retain a third party to perform the audit, or require that Merchant directly retain a specific third party auditor If Bank requires that Merchant directly
retain the auditor, Merchant shall arrange immediately for such audit to be performed, and will provide Bank and the Associations with a copy of any final audit report. 

35.    System Requirements and Upgrades Merchant acknowledges that Bank may intercept and settle Merchant
transactions directly with other entities processed by Bank. Merchant agrees that the Services shall be provided in accordance with Bank’s then current systems, standards and procedures and that Bank shall not be required to perform any special
programming, to provide any special hardware or software or to implement any other system, program or procedure for Merchant. Unless otherwise agreed in writing by Bank, all sales transaction, settlement and other data and information used in
connection with the Services shall be provided to Bank in Bank’s then current data formats and by means of Bank’s then current telecommunications configurations and protocols Bank may make changes in the Services based upon, but not
limited to. technological developments, legislative or regulatory changes, or the introduction of new services by Bank. Merchant shall comply with all time deadlines, equipment and software maintenance and upgrading requirements which Bank may
reasonably impose on Merchant from time to time. 
 36.    Title to the Services. Merchant agrees it is acquiring
only a nontransferable, non-exclusive right to use the Services Bank shall at all times retain exclusive title to the Services, including without limitation, any materials delivered to Merchant hereunder and
any invention, development, product, trade name, trademark, service mark, software program, or derivative thereof, developed in connection with providing the Services or during the term of this Agreement.

 

  
 Bank Card Merchant
Agreement Page 5 of 6 

 37.    Limited Acceptance If so indicated below. Merchant acknowledges and agrees
that it wishes to be a Limited Acceptance merchant, which means that Merchant has elected to accept only certain VISA/MasterCard card types as indicated below, or via later notification. Merchant further acknowledges and agrees that Bank has no
obligation other than those expressly provided under the Operating Regulations and applicable law as they may relate to limited acceptance and that Bank’s obligations do not include policing card types at the point of sale As a Limited
Acceptance Merchant, Merchant will be solely responsible for the implementation of its decision for Limited Acceptance. Merchant will be solely responsible for policing, at the point of sale, the card type(s) of transactions It submits for
processing by Bank. Should Merchant submit a transaction for processing for a card type it has indicated it does not wish to accept, Bank may process that transaction and Merchant will pay the applicable fees, charges, and assessments associated
with that transaction. For Merchant’s convenience, a general description of VISA/MasterCard card types are: 
 a.    Consumer
Credit - a consumer credit card issued by a U.S. Issuer or a commercial credit card issued by a non-U, S. Issuer; this o category does not include VISA or MasterCard branded signature-based debit cards. 

b.    Consumer Debit - a VISA or MasterCard branded sign> based debit card (including certain stored-value and prepaid cards) 

c.    Commercial - a VISA or MasterCard branded credit card issued by a US. Issuer that bears the descriptive term “Business
Card”, “Corporate Card”, “Purchasing Card”, “Fleet Card” or similar descriptive term indicated pursuant to the Operating Regulations. 

Only if checked below. Merchant wishes to Limited Acceptancee Merchant, which means that Merchant will accept only the VISA/MASTERCARD card types indicated
below. 
  

	☐	 VISA Credit Cards 

  

	☐	 VISA Debit Cards (signature based) 

 

	☐	 MasterCard Credit 

  

	☐	 MasterCard Debit Cards (signature based) 

38.    Security Interest. This Agreement will constitute a security agreement under the Uniform Commercial Code
Merchant grants to Bank a security interest in all accounts owned or controlled by Vantiv at Member Bank that are funded with settlement amounts, including the Reserve Account, and the proceeds thereof (collectively, the “Secured Assets”),
to secure all of Merchant’s obligations under this Agreement With respect to such security interest, Bank will have all rights afforded under the Uniform Commercial Code, any other applicable law, and in equity. In addition to the security
interest in the Secured Assets. Bank shall have a contractual right of setoff against the Secured Assets. 
 Every such right of setoff shall be deemed to
have been exercised immediately upon the occurrence of an Event of Default hereunder without any action by Bank or notation in the Bank’s records, although Bank may enter such set off on its books and records at a later time Merchant warrants
and represents that no other person or entity has a security interest in the Secured Assets. If a bankruptcy proceeding is filed by or against Merchant under the Bankruptcy Code (whether the petition is filed voluntarily and/or involuntarily), it
waives any applicable protection related to the automatic stay provisions of 11 U.S.C. §362 (or any replacement section) and consents to an appropriate reserve of funds being established between the parties pursuant to this Agreement or by
Court Order. 
 39.    Modification of Agreement. Except as provided in this Agreement, this Agreement including
any addendum or schedule or exhibit hereto shall only be modified or amended by an instrument in writing signed by each party hereto Any changes, additions, stipulations or deletions, including lining out, by Merchant, except where indicated by a
space to be filled in (e.g., the space for Merchant s name and address), shall not be deemed to be agreed to or binding upon Bank unless agreed to in writing in the form of an amendment signed by each party hereto.

 40.    Headings and Construction. The headings used in this Agreement
are inserted for convenience only and will not affect the interpretation of any provision. Merchant and Bank each acknowledge that the limitations and exclusions contained in this Agreement have been the subject of active and complete negotiation
between the parties and represent the parties’ voluntary agreement. The parties agree that the terms and conditions of this Agreement shall not be construed in favor of or against any party by reason of the extent to which any party or its
professional advisors participated in the preparation of this document. 
 41.    Authorization. Each of the
parties hereto represents and warrants on behalf of itself that it has full power and authority to enter into this Agreement: that the execution, delivery and performance of this Agreement has been duly authorized by all necessary corporate, limited
liability company or partnership or other appropriate authorizing actions; that the execution, delivery and performance of this Agreement will not contravene any applicable by-law, corporate charter, operating
agreement, partnership or joint venture agreement, law. regulation, order or judgment; that execution, delivery and performance of this Agreement will not contravene any provision or constitute a default under any other agreement, license or
contract which such party is bound; and, that this Agreement is valid and enforceable in accordance with its terms. 

42.    Counterparts. The parties agree that electronic signatures will have the same legal effect as original (i.e.
ink) signatures and that an electronic, scanned, facsimile, or duplicate copy of such signatures may be used as evidence of execution. This Agreement may be executed and delivered in counterparts, each of which shall be deemed an original but all of
which together shall constitute one and the same instrument. 
 43.    Facsimile Deemed Original. Merchant and Bank
agree that any facsimile or other copy of this Agreement evidencing the execution by both parties shall be deemed an original. 

44.    Member Bank. The Processor and Member Bank may jointly or individually assert or exercise any rights or
remedies provided to Bank hereunder. Processor and Member Bank reserve the right to allocate Bank’s duties and obligations amongst themselves, as they deem appropriate in their sole discretion As of the commencement of this Agreement, Member
Bank shall be Fifth Third Bank, an Ohio banking corporation, located at 38 Fountain Square Plaza, Cincinnati, OH 45263 The Member Bank may delegate certain or all of its duties to an affiliate of the Member Bank at any time, without notice to
Merchant. The Member Bank may be changed, and its rights and obligations assigned to another party by Bank at any time without notice to Merchant. 
 IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their authorized officers as of the dates set forth below. 
  

			
	FOR VANTIV, LLC and FIFTH THIRD BANK
		
	By:	 	
[***]                    
                      

	Name:	 	[***]
	Title:	 	[***]
		
	Date:	 	October 25, 2013
	
	MERCHANT LEGAL NAME: TOAST. INC
		
	By:	 	 [***]

	Name:	 	[***]
	Title:	 	[***]
		
	Date:	 	September 30, 2013

 
 

  
 Bank Card Merchant
Agreement Page 6 of 6 

			
	

	  	 ADDENDUM A TO THE BANK CARD MERCHANT AGREEMENT

GENERAL SERVICES ADDENDUM

 This General Services Addendum shall be an Addendum to the Bank Card Merchant Agreement between Bank and Merchant in
accordance with the provisions as set forth in the Bank Card Merchant Agreement including all exhibits, schedules and Addenda hereto and all documents and materials referenced herein. As used herein, the term “Agreement” shall have the
meaning ascribed to it in the Bank Card Merchant Agreement. 
 [***] 

  
  

Addendum A 
 General Services
Addendum Page 1 of 6 

 AMENDMENT NO. 1 TO 

THE BANK CARD MERCHANT AGREEMENT 
 This Amendment
No. 1 to the Bank Card Merchant Agreement (the “Agreement”) is made among VANTIV, LLC, on behalf of itself and its affiliates (“Processor”) and Member Bank (collectively “Bank”) and TOAST, INC.
(“Merchant”). The Agreement shall be amended in the following respects. 
 [***] 

Except as otherwise provided in this Amendment, the terms of the Agreement are hereby ratified and affirmed and shall remain in full force and effect This
Amendment shall have no force or effect unless and until countersigned by Bank. 
  

									
	TOAST, INC,	 		 	FOR VANTIV, LLC and FIFTH THIRD BANK
					
	By:	 	 [***]
	 		 	By:	 	
[***]                    
                                        

	Name:	 	[***]	 		 	Name:	 	[***]
	Title:	 	[***]	 		 	Title:	 	[***]
					
	Date:	 	October 21, 2015	 		 	Date:	 	October 21, 2015

 SPECIAL AMENDMENT TO THE BANK CARD MERCHANT AGREEMENT 

This Special Amendment to the Agreement is made among Processor, Member Bank and TOAST, INC. (“Merchant”). “Agreement” shall mean
the Bank Card Merchant Agreement or Merchant Processing Agreement or other contract document for the Services provided by Processor to Merchant as previously executed on October 25, 2013 by Processor and any corresponding Schedules, Addenda,
Exhibits and Amendments thereto. All other terms and conditions of the Agreement shall remain in full force and effect unless explicitly stated herein. All defined terms shall have the meanings set forth in the Agreement unless otherwise specified
herein. The Agreement shall be amended in the following respects. 
 Processor and Merchant acknowledge and agree to the following: 

[***] 
 Except as otherwise provided in this Amendment, the terms
of the Agreement are hereby ratified and affirmed and shall remain in full force and effect. This Amendment shall have no force or effect unless and until countersigned by Processor. 

 

									
	TOAST, INC,	 		 	FOR VANTIV, LLC and FIFTH THIRD BANK
					
	By:	 	 [***]
	 		 	By:	 	 [***]

	Name:	 	[***]	 		 	Name:	 	[***]
	Title:	 	[***]	 		 	Title:	 	[***]
					
	Date:	 	May 23, 2016	 		 	Date:	 	May 23, 2016

 AMENDMENT NO. 2 TO 

THE BANK CARD MERCHANT AGREEMENT 
 This
Amendment No. 2 (the “Amendment”) to the Bank Card Merchant Agreement (the “Agreement”), signed by Merchant on September 30, 2013 as amended is made among VANTIV, LLC (“Processor”), the Member Bank
(collectively “BANK”) and TOAST, INC. (“Merchant”). In the event of a conflict between this Amendment and the Agreement, this Amendment shall control. A capitalized term not otherwise defined herein shall have the meaning
ascribed to it in the Agreement. 
  

	A.	 The Agreement shall be amended as follows: 

 

	 	1.	 Processor and Merchant acknowledge and agree that upon the execution of this Amendment, the Agreement shall
renew through May 31, 2021, and thereafter the Agreement shall renew in accordance with Section 9 (Term) of the Agreement (collectively the “Term”). 

 

	 	2.	 The following shall be added to the end of the Agreement: 

American Express Acquired Program. 

Capitalized terms in this Section are defined in the American Express OptBlue Program (the “AMEX Acquired Program ) Operating Regulations,
Participant Sales Entity Edition (the “AMEX Acquired Program Operating Regulations”). The following will only apply to Merchant’s participation in the American Express Acquired Program. This Amendment must be duly executed by an
authorized representative who has authority to bind Merchant. Merchant must operate in a manner consistent with the American Express Brand and all Applicable Laws and must comply with the following provisions: 

 

	 	•	 	 Merchant must comply with the policies and rules set forth in the AMEX Acquired Program Operating Regulations.

  

	 	•	 	 The Merchant Agreement between Merchant and Sub-merchant must comply with
the requirements provided in Chapter 8 of AMEX Acquired Program Operating Regulations, the American Express Merchant Requirements set forth in Appendix B, and all applicable website requirements specified in the AMEX Acquired Program Operating
Regulations. 

  

	 	•	 	 A prohibition on signing any merchant to accept Cards under the Program that is not a Sub-merchant Prospect (e.g., another Payment Service Merchant) or processing transactions on behalf of another Payment Service Merchant. 

 

	 	•	 	 Merchant shall accurately describe Sub-merchant Prospect criteria in any
type of communications, publications, promotional or marketing materials, whether internal, external, oral or written. 

  

	 	•	 	 Processor has the right to immediately terminate this Agreement or
Sub-merchant Agreement for fraudulent or other activity, or otherwise upon American Express’ request. 

  

	 	•	 	 Merchant assumes financial liability for all settlement activity on behalf of their Sub-merchants, including Chargebacks and Credits. Merchant is also liable for all other acts, omissions and Card Member customer service-related issues caused by the Merchant’s
Sub-merchants. Processor agrees to reasonably cooperate with Merchant in the resolution of any such Card Member customer service-related issues. 

 

	 	•	 	 Merchant shall (i) perform appropriate background and verification checks, credit checks, know your
customer, and anti-money laundering (AML) checks of all their Sub-merchants and their respective Significant Owners in accordance with Applicable Laws and otherwise as American Express may require, and
(ii) provide American Express, on request, copies of policies governing these checks and otherwise respond to American Express’ requests about performance of these checks. 

 

	 	•	 	 Merchant and Sub-merchants are prohibited from transferring financial
liability by asking or requiring Card Members to waive their disputes rights. 

  

	 	•	 	 Merchant shall only deposit American Express Acquired transactions from
Sub-merchants within the United States, but not Puerto Rico, the U.S. Virgin Islands, or any other U.S. territory or possession. 

 

	 	•	 	 Merchant must provide the names of owner(s) for each of their
Sub-merchants who will be transacting on the American Express Network in accordance with the Merchant Data requirements in Section 5.4 of the American Express Program Operating Regulations.

  

	 	•	 	 Merchant must ensure that its Sub-merchants comply with the Program
Merchant Data Security Requirements and PCI DSS, each as described in Chapter 15, “Data Security” of the American Express Program Operating Regulations. 

 

	 	•	 	 Merchant must report all instances of a Data Incident immediately to Processor, and in no case later than
twenty-four (24) hours after discovery of the incident. 

  

	 	•	 	 Merchant must remove American Express Licensed Marks from a Merchants website and wherever else they are
displayed upon termination of this Agreement or Merchant’s participation in the Program. 

  

	 	•	 	 Merchant must include an express disclosure to Sub-merchants that
American Express may use the information obtained in the Sub-merchant application at the time of setup to screen and/or monitor Sub-merchant in connection with Card
marketing and administrative purposes. 

  

	 	•	 	 Merchant acknowledges that it may be converted from the Program to a direct Card acceptance relationship with
American Express if and when it becomes a High CV PSP. Merchant expressly agrees that, upon conversion, (i) Merchant will be bound by American Express’ then-current Card Acceptance Agreement; and (ii) American Express will set pricing
and other fees payable by Merchant for Card acceptance. 

  

	B.	 The attached Attachment C – Settlement shall be incorporated into the Agreement

  

	C.	 [***]. 

  

	D.	 The parties agree that Schedule C hereto- Value Added Services shall be inserted and made a part of the
Agreement. 

  

	E.	 The SPECIAL AMENDMENT TO THE AGREEMENT GENERAL SECURITY SERVICES, signed by Merchant on September 18,
2015, shall be amended by deleting Section A.4.a in its entirety. 

  

	F.	 Notwithstanding anything contrary in the Agreement, and for each month during the Agreement, Merchant agrees
that the monthly number of transactions processed pursuant to this Agreement shall equal or exceed [***]. If Merchants processing volume falIs below the Threshold in the aggregate for any [***] during the Agreement, then Processor shall have the
right to terminate the Agreement [***], subject to the process outlined in this Section F. In the event that during such Cure Period Merchant achieves the Threshold in aggregate for each month of the [***] Cure Period, then Processor shall not have
the right to terminate the Agreement and the Agreement shall remain valid and in full effect. If Merchant does not process at least the Threshold, in aggregate, for each month of the Cure Period, then upon Processors written notification of this
breach of the Agreement, Merchant shall have [***] to deconvert from Processor’s systems. In the event that Merchant has not fully deconverted in those [***], Processor shall charge Merchant [***] for all Transactions submitted in the next
[***], after which time Merchant will be finally terminated from Processors systems. 

  

	G.	 [***]. 

	H.	 [***]. 

  

	I.	 Release. In consideration of the promises and benefits contained herein, Merchant hereby agrees that it,
and each of its predecessors, assigns, officers, directors, shareholders, agents, principals, representatives, affiliates, insurers, attorneys, successors-in-interest,
and all others claiming under or through them or on whose behalf they make or may make any claim, hereby release and forever discharge Processor, its shareholders, directors, officers and employees, predecessors, assigns, agents, principals,
representatives, affiliates, insurers, members, attorneys and successors-in-interest from any and all claims, demands, obligations, liabilities, lawsuits, costs,
expenses, attorneys’ fees, causes of actions, judgments and execution at common law, statutory or otherwise, whether for breach of contract, actual, negligent, fraudulent or intentional acts or omissions of any and all kinds, including without
limitation, all claims and causes of action, whether liquidated or unliquidated, that Merchant has or might have, known or unknown, foreseen or unforeseen, that have accrued as of the date of this Amendment. 

Except as otherwise provided in this Amendment, the terms of the Agreement are hereby ratified and affirmed and shall remain in full force and effect. This
Amendment shall have no force or effect unless and until countersigned by Processor. 
  

									
	FOR VANTIV, LLC and FIFTH THIRD BANK	 		 	TOAST, INC,
					
	By:	 	 [***]
	 		 	By:	 	 [***]

	Name:	 	[***]	 		 	Name:	 	[***]
	Title:	 	[***]	 		 	Title:	 	[***]
					
	Date:	 	June 29, 2018	 		 	Date:	 	June 28, 2018

 ATTACHMENT C - SETTLEMENT 

[***] 

 SCHEDULE C – VALUE-ADDED SERVICES 

[***] 

 AMENDMENT NO 3 TO THE 

PAYMENT FACILITATOR MERCHANT AGREEMENT 
 This
Amendment No. 3 (the “Amendment”) to the Bank Card Merchant Agreement, signed by Merchant on September 30, 2013, as amended (the “Agreement”), is made among WORLDPAY, LLC f.k.a. VANTIV, LLC (“Processor”),
Member Bank and TOAST, INC. (“Merchant”). In the event of a conflict between this Amendment and the Agreement, this Amendment shall control. A capitalized term not otherwise defined herein shall have the meaning ascribed to it in the
Agreement. 
  

	I.	 Merchant acknowledges that Vantiv, LLC has changed its name to Worldpay, LLC. All references in the
Agreement to Vantiv, LLC, “Vantiv,” or “Processor” shall hereafter refer to World pay, LLC. 

  

	II	 [***]. 

Except as otherwise provided in this Amendment, the terms of the Agreement are hereby ratified and affirmed and shall remain in full force and effect. This
Amendment shall have no force or effect unless and until countersigned by Processor. 
  

											
	WORLDPAY, LLC	 	TOAST, INC,	 	
						
	By:	 	 [***]
	 		 	By:	 	 [***]
	 	
	Name:	 	 [***]
	 		 	Name:	 	 [***]
	 	
	Title:	 	 [***]
	 		 	Title:	 	 [***]
	 	
						
	Date:	 	October 20, 2019	 		 	Date:	 	October 17, 2019	 	

 AMENDMENT NO. 4 TO THE 

BANK CARD MERCHANT AGREEMENT 
 This
Amendment No. 4 (the “Amendment”) to the Bank Card Merchant Agreement, signed by Merchant on September 30, 2013, as amended (the “Agreement”), is made among WORLDPAY, LLC (“Processor”), Member Bank and TOAST,
INC. (“Merchant”). In the event of a conflict between this Amendment and the Agreement, this Amendment shall control. A capitalized term not otherwise defined herein shall have the meaning ascribed to it in the Agreement. 

 

	I.	 Merchant would like to receive certain Onboarding API services from Processor, and Processor shall
provide such Onboarding API Services, in accordance with the following; 

 “Onboarding API Service” means an
application programming interface (API) that is designed to enable, after Merchant receives an approved response in accordance with the selected Tier described below, automated creation of a new Merchant Identification Number (“MID”) for a
Sub-merchant on Processor’s Core Processing Platform. 
 Onboarding API Services
Tiers: Processor offers API Tier(s) designed to assist in Merchant’s “Know Your Customer” (“KYC”) compliance checks. The Processing Fee for such API Tier shall be reflected in the Price Schedule to the Payment
Facilitator Merchant Agreement and, for the avoidance of doubt, shall be charge only upon the creation of a new MID in connection with the Onboarding API Service, and not in connection with any modifications or updates to an existing MID. 

Tier 1: OFAC and TIN plus MATCH: This package includes all of the following services: 

 

	 	•	 	 Office of Foreign Assets Control (OFAC) check of Sub-Merchant’s
principals against OFAC’s list of Specially Designated Nationals and Blocked Persons (SDN list) 

  

	 	•	 	 Taxpayer Identification Number (TIN) verification of Sub-Merchant’s
principals via Internal Revenue Service (IRS) records 

  

	 	•	 	 MasterCard Alert to Control High-risk Merchants (MATCH) File check of
Sub-Merchant company/principal names as required by MasterCard, as described below 

Processor will perform MATCH screening on behalf of Merchant for all Sub-Merchants. Merchant
acknowledges that each respective Sub-Merchant and its owner(s) must be cleared against MasterCard’s MATCH files before Processor processes any transactions for a
Sub-Merchant. If the initial query indicates that the prospective Sub-Merchant or its owner(s) is on the MATCH list, Processor will research and reasonably determine if
the applicable Sub-Merchant or owner is a true match. 
 Processor will make good faith efforts to
provide Merchant with at least [***] prior notice of any material change to the Onboarding API Services (or such sooner time as Processor becomes aware of an impending material change), and shall not make any material change that materially
diminishes the functionality of the Onboarding API Services. 
 Merchant acknowledges that the Onboarding API Services require the use or
participation of third party software and services (whether provided by or facilitated through Processor or its licensor and suppliers) to which Merchant will not receive any right, title, interest or license, including but not limited to internet
service providers and wireless carriers, all of which are not under Processor’s control. As such, the Onboarding API Services are presented “as is” and Processor inclusive of its licensors and suppliers) makes no representation or
warranty of any kind or nature relative to the Onboarding API Services including but not limited to: (i) that a particular device will be capable of utilizing the Onboarding API Services; (ii) that the Onboarding API Services will be
available at all times or will perform functions related to submissions at all times or at specific times; or (iii) that all or some of the functionality of the Onboarding API Services will be uninterrupted or error-free. Notwithstanding the
forgoing, in the event of an unplanned outage of the API Onboarding Services, Processor shall use commercially reasonable best efforts to promptly restore the API Onboarding Services. Subject to Section 22 of the Agreement, and notwithstanding
anything in Section 33 thereof to the contrary, with respect to the Onboarding API Services, Processor shall be responsible to Merchant for, and shall indemnify and hold harmless Merchant against, any losses incurred by Merchant resulting from
any compromise, unauthorized access, disclosure, theft, or unauthorized use of Sub-Merchant data experienced by Processor or any third party performing the Onboarding API Services on its behalf (an “API
Data Breach”). Processor shall promptly notify Merchant in the event of an actual or suspected API Data Breach, and shall cooperate with Merchant with respect to any investigation and/or reasonable additional requirements relate to an API Data
Breach. Merchant acknowledges an agrees that the Onboarding API Services to be provided by Processor hereunder do not include any customization of the license software. 
  

	II.	 The Merchant Price Schedule to the Bank Card Merchant Agreement shall be amended by adding the following
line item to Section I.B. “Other Fees”: 

 “(xiv) [***]” 

Except as otherwise provided in this Amendment, the terms of the Agreement are hereby ratified and affirmed and shall remain in full force and effect. This
Amendment shall have no force or effect unless and until countersigned by Processor. 
  

									
	WORLDPAY, LLC	 	TOAST, INC,
					
	By:	 	 [***]
	 		 	By:	 	 [***]

	Name:	 	 [***]
	 		 	Name:	 	 [***]

	Title:	 	 [***]
	 		 	Title:	 	 [***]

					
	Date:	 	February 16, 2021	 		 	Date:	 	February 16, 2021

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