Document:

EX-10.2

 Exhibit 10.2 

SECOND LIEN GUARANTY AND COLLATERAL 

AGREEMENT 

DATED AS OF 

FEBRUARY 7, 2019 

MADE BY 

HORNBECK OFFSHORE SERVICES, INC., 

AS PARENT BORROWER, 

HORNBECK OFFSHORE SERVICES, LLC, 

AS CO-BORROWER, 

AND 

EACH OF THE OTHER OBLIGORS (AS
DEFINED HEREIN) 
 IN FAVOR OF 

WILMINGTON TRUST, NATIONAL ASSOCIATION, 

AS COLLATERAL AGENT 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I Definitions
	  	 	2	 
	 Section 1.01
	 	Definitions	  	 	2	 
	 Section 1.02
	 	Other Definitional Provisions	  	 	8	 
	 Section 1.03
	 	Rules of Interpretation	  	 	8	 
	 ARTICLE II Guarantee
	  	 	8	 
	 Section 2.01
	 	Guarantee	  	 	8	 
	 Section 2.02
	 	Right of Contribution	  	 	9	 
	 Section 2.03
	 	No Subrogation	  	 	9	 
	 Section 2.04
	 	Amendments, Etc. with respect to the Borrower Obligations	  	 	9	 
	 Section 2.05
	 	Waivers	  	 	10	 
	 Section 2.06
	 	Guaranty Absolute and Unconditional	  	 	10	 
	 Section 2.07
	 	Reinstatement	  	 	12	 
	 Section 2.08
	 	Payments	  	 	12	 
	 ARTICLE III Grant of Security Interest and Pledge of Equity Interests
	  	 	12	 
	 Section 3.01
	 	Collateral	  	 	12	 
	 ARTICLE IV Representations and Warranties
	  	 	13	 
	 Section 4.01
	 	Representations in Credit Agreement	  	 	14	 
	 Section 4.02
	 	Title; No Other Liens	  	 	14	 
	 Section 4.03
	 	Perfected Liens	  	 	14	 
	 Section 4.04
	 	Obligor Information	  	 	14	 
	 Section 4.05
	 	Benefit to the Guarantor	  	 	15	 
	 Section 4.06
	 	Perfection Certificate and Other Information Regarding Collateral	  	 	15	 
	 ARTICLE V Covenants
	  	 	15	 
	 Section 5.01
	 	Covenants in Credit Agreement	  	 	15	 
	 Section 5.02
	 	Maintenance of Perfected Security Interest; Further Documentation	  	 	15	 
	 Section 5.03
	 	Changes in Locations, Name, Etc.	  	 	16	 
	 Section 5.04
	 	Delivery of the Pledged Collateral	  	 	16	 
	 ARTICLE VI Remedial Provisions
	  	 	17	 
	 Section 6.01
	 	Code and Other Remedies	  	 	17	 
	 Section 6.02
	 	Waiver; Deficiency	  	 	19	 
	 Section 6.03
	 	Non-Judicial Enforcement	  	 	19	 
	 Section 6.04
	 	Pledged Collateral	  	 	19	 
	 ARTICLE VII The Collateral Agent
	  	 	20	 
	 Section 7.01
	 	Collateral Agent’s Appointment as Attorney-in-Fact, Etc.	  	 	20	 
	 Section 7.02
	 	Duty of Collateral Agent	  	 	21	 
	 Section 7.03
	 	Filing of Financing Statements	  	 	22	 
	 Section 7.04
	 	Authority of Collateral Agent	  	 	22	 
	 Section 7.05
	 	Collateral Agent’s Appointment as Agent	  	 	22	 
	 ARTICLE VIII Subordination of Indebtedness
	  	 	23	 
	 Section 8.01
	 	Subordination of All Obligor Claims	  	 	23	 
	 Section 8.02
	 	Claims in Bankruptcy	  	 	23	 
	 Section 8.03
	 	Payments Held in Trust	  	 	23	 
	 Section 8.04
	 	Liens Subordinate	  	 	24	 

  
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	 Section 8.05
	 	Notation of Records	  	 	24	 
	 ARTICLE IX Miscellaneous
	  	 	24	 
	 Section 9.01
	 	Waiver	  	 	24	 
	 Section 9.02
	 	Notices	  	 	24	 
	 Section 9.03
	 	Payment of Expenses, Indemnities, Etc.	  	 	24	 
	 Section 9.04
	 	Amendments in Writing	  	 	25	 
	 Section 9.05
	 	Successors and Assigns	  	 	25	 
	 Section 9.06
	 	Survival; Revival; Reinstatement	  	 	25	 
	 Section 9.07
	 	Counterparts; Integration; Effectiveness	  	 	26	 
	 Section 9.08
	 	Severability	  	 	26	 
	 Section 9.09
	 	Set-Off	  	 	27	 
	 Section 9.10
	 	Governing Law; Submission to Jurisdiction	  	 	27	 
	 Section 9.11
	 	Headings	  	 	28	 
	 Section 9.12
	 	Acknowledgments	  	 	28	 
	 Section 9.13
	 	Additional Obligors	  	 	29	 
	 Section 9.14
	 	Releases	  	 	29	 
	 Section 9.15
	 	Acceptance	  	 	30	 
	 Section 9.16
	 	Incorporation by Reference	  	 	30	 
	 Section 9.17
	 	Intercreditor Agreements	  	 	30	 

 ANNEXES: 

	I	 Form of Assumption Agreement 

SCHEDULES: 

	1	 Notice Addresses of Obligors 

	2	 Filings and Other Actions Required to Perfect Security Interests 

	3	 Location of Jurisdiction of Organization and Chief Executive Office 

	4	 Effective Date Deposit Accounts 

	5	 Pledged Collateral 

  
 ii 

 This SECOND LIEN GUARANTY AND COLLATERAL AGREEMENT (this “Agreement”) is
dated as of February 7, 2019 and is made by Hornbeck Offshore Services, Inc., a Delaware corporation (the “Parent Borrower”), Hornbeck Offshore Services, LLC, a Delaware limited liability company (the “Co-Borrower” and, together with the Parent Borrower, collectively, the “Borrowers” and each, a “Borrower”) and each of the signatories hereto other than the Collateral
Agent as defined below (the Borrowers and each of the signatories hereto (other than the Collateral Agent (as defined below)), together with any other Restricted Subsidiary of the Parent Borrower that becomes a party hereto from time to time after
the date hereof pursuant to an Assumption Agreement or otherwise, the “Obligors”), in favor of Wilmington Trust, National Association, as collateral agent (in such capacity, together with its successors in such capacity, the
“Collateral Agent”), for the financial institutions (the “Lenders”) from time to time parties to the Second Lien Term Loan Agreement dated of even date herewith (as amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among the Borrowers, the Lenders, the Collateral Agent and Wilmington Trust, National Association, as administrative agent (in such capacity, together with its successors in such
capacity, the “Administrative Agent”) and for the other Guaranteed Creditors (as defined below). 
 R E C I T A L S

 A. The Borrowers have requested that the Lenders provide certain loans to the Borrowers pursuant to the Credit Agreement. 

B. The Lenders have agreed to make such loans subject to the terms and conditions of the Credit Agreement. 

C. It is a condition precedent to the obligation of the Lenders to make their respective Commitments to provide Loans to the Borrowers under
the Credit Agreement that the Obligors shall have executed and delivered this Agreement to the Collateral Agent for the ratable benefit of the Lenders. 

D. It is contemplated that one or more Obligors may incur certain Pari Passu Lien Debt and that the Credit Agreement Obligations (as defined
below) and the Pari Passu Lien Obligations (as defined below) be secured on a second-priority, pari passu basis by the Collateral (as defined below) and, in the event that such Pari Passu Lien Debt is incurred, the Borrowers, the other Obligors from
time to time party thereto, the Administrative Agent, the Collateral Agent, the Pari Passu Lien Representative and the Pari Passu Collateral Agent will enter into a Pari Passu Intercreditor Agreement, which will set forth the rights and remedies of
the Guaranteed Creditors (as defined below) in the Collateral as amongst each other. 
 NOW, THEREFORE, in consideration of the premises
herein and to induce the Collateral Agent and the Lenders to enter into the Credit Agreement, to induce the Lenders to make their respective extensions of credit to the Borrowers thereunder and to induce the lenders under the Pari Passu Lien
Documents to make extensions of credit thereunder, each Obligor hereby agrees with the Collateral Agent, for the ratable benefit of the Guaranteed Creditors, as follows: 
  

 ARTICLE I 

Definitions 

Section 1.01 Definitions. 

(a) Unless otherwise defined herein, terms defined in the Credit Agreement and used herein have the meanings given to them in the Credit
Agreement, and terms not otherwise defined herein but that are defined in the UCC on the date hereof shall have the meanings given them in the UCC when used herein in such context; provided that no UCC terms shall be deemed to include Excluded
Assets. 
 (b) The following terms have the following meanings: 

“Account Control Agreement” means, with respect to any Deposit Account or Securities Account of any Obligor that is not an
Excluded Account, and with respect to the Collateral Proceeds Account, an agreement or agreements in form and substance reasonably acceptable to the Collateral Agent and the Required Lenders (it being understood that if approved by the First Lien
Required Lenders, it shall be deemed approved by the Required Lenders) among the applicable Obligor, the Collateral Agent and the First Lien Collateral Agent and such other bank or banks governing such Deposit Account or Securities Account pursuant
to which the security interest of the Collateral Agent in such Deposit Account or Securities Account and the assets deposited therein shall be perfected. 

“Agreement” means this Second Lien Guaranty and Collateral Agreement as the same may be amended, restated, supplemented or
otherwise modified from time to time. 
 “Assumption Agreement” has the meaning assigned such term in Section 9.13.

 “Bankruptcy Code” means Title 11, United States Code, as amended from time to time. 

“Borrower Obligations” means the collective reference to the payment and performance when due of all indebtedness,
liabilities, obligations and undertakings of the Borrowers and the Guarantors (including, without limitation, all Indebtedness) arising out of or outstanding or owing under, advanced or issued pursuant to, or evidenced by, the Guaranteed Documents,
including, without limitation, the unpaid principal of and interest on the Loans and all other obligations and liabilities of the Borrowers and the Guarantors (including, without limitation, interest accruing at the then applicable rate provided in
the Guaranteed Documents after the maturity of the Loans and interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to any Obligor (or that would accrue
but for the commencement of such proceeding), whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter
incurred, arising out of or outstanding under, advanced or issued pursuant to, or evidenced by, the Guaranteed Documents, whether on account of principal, interest, reimbursement obligations, payments in respect of an early termination date, any
premium payable in respect of the Loans (including, without limitation, any such premium payable pursuant to Section 3.04(d) of the Credit Agreement), fees, indemnities, costs, expenses or otherwise (including, without limitation, all costs,
fees and disbursements of counsel to the Guaranteed Creditors that are required to be paid by the Obligors pursuant to the terms of any Guaranteed Document). 

  
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 “Collateral” has the meaning assigned such term in Section 3.01. 

“Credit Agreement Obligations” means all amounts owing to any Secured Party pursuant to the terms of the Credit Agreement or
any other Loan Document, including all amounts in respect of any principal, interest, penalties, fees, indemnifications, reimbursements, damage and other liabilities payable thereunder, and guarantees of the foregoing amounts (including, without
limitation, interest accruing at the then applicable rate provided in the Loan Documents after the maturity of the Loans and amounts accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or
like proceeding, relating to any Obligor (or that would accrue but for the commencement of such proceeding), whether or not a claim for such post-filing or post-petition amounts is allowed in such proceeding). 

“Deposit Account” means a demand, time, savings, passbook or similar account maintained with a bank or other financial
institution. As of the Effective Date, the Deposit Accounts of the Obligors that are not Excluded Accounts are set forth on Schedule 4 hereto (the “Effective Date Deposit Accounts”). 

“Effective Date Deposit Accounts” has the meaning assigned such term in the definition of Deposit Account. 

“Event of Default” means the collective reference to (i) with respect to the Credit Agreement, an “Event of
Default” under, and as defined therein, and (ii) with respect to any Pari Passu Lien Debt, an “event of default” or similar term defined in the applicable Pari Passu Lien Document. 

“Excluded Accounts” means (i) those Deposit Accounts that are used exclusively for payroll, payroll taxes, workers
compensation and employee benefits, or withholding, sales, use, value added or similar taxes, (ii) Deposit Accounts held in trust for a third party; provided that such accounts consist solely of funds set aside for such purpose,
(iii) escrow accounts that have an overnight balance of which in the aggregate, together with the overnight balance of all such other escrow accounts excluded pursuant to this clause (iii), do not exceed $5,000,000, (iv) Deposit Accounts and
Securities Accounts that exclusively hold the proceeds generated from Property that does not constitute Collateral (including cash receipts of any revenues generated from such Property), (v) those Deposit Accounts, Securities Accounts and Commodity
Accounts that have an overnight balance of which in the aggregate, together with the overnight balance of all such other Deposit Accounts, Securities Accounts and Commodity Accounts excluded pursuant to this clause (v), do not exceed $5,000,000 and
(vi) foreign Deposit Accounts, foreign Securities Accounts and foreign Commodity Accounts of the Obligors that have an overnight balance of which in the aggregate, together with the overnight balance of all such other foreign Deposit Accounts,
foreign Securities Accounts and foreign Commodity Accounts excluded pursuant to this clause (vi), do not exceed $5,000,000. Notwithstanding the foregoing, in no event shall (w) any Effective Date Deposit Account, (x) the Collateral
Proceeds Account, (y) any deposit account holding escrowed amounts in respect of the Specified Vessels or (z) any deposit account, securities account, commodity account or escrow account not constituting an Excluded Account under First
Lien Loan Documents, in each case, constitute an Excluded Account . 

  
 3 

 “Excluded Assets” means (i) except in each case to the extent excluded
from the definition of “Excluded Assets” pursuant to the following clause (ii)(X), (ii)(Y) or (ii)(Z), any Equity Interests held by any Obligor of any (1) Foreign Subsidiary Holding Company or (2) any Foreign Subsidiary, but in
the case of any Foreign Subsidiary with assets greater than $50 million, only to the extent in excess of 65% of the voting Equity Interests in such Foreign Subsidiary, (ii) any other Equity Interests, other than (X) to the extent any
Obligor has made Investments of Vessel Collateral (or Specified Equity Interests if as a result of such Investment the Lien on the applicable Vessel Collateral would be required to be released pursuant to the Loan Documents) in any Person that is
not an Obligor and has not consummated a Collateral Substitution Transaction in connection therewith in accordance with Section 8.14(b) of the Credit Agreement, either (1) 100% of the Equity Interests in such
non-Obligor held by any Obligor, or (2) to the extent the applicable Obligor’s pledging of or granting a security interest in the Equity Interests held by it in such
non-Obligor would result in a termination (or right of termination) of (other than any termination or right of termination in favor of the Parent Borrower or any of its Restricted Subsidiaries), or is
prohibited or otherwise restricted by, any contractual obligation applicable to such Obligor or such Equity Interests (other than any such obligation in favor of the Parent Borrower or any of its Restricted Subsidiaries) or would require a consent
from any third party (unless such consent has been received) (other than the Parent Borrower or any of its Restricted Subsidiaries) or would violate any applicable law, rule or regulation (in each case, except to the extent such termination, right
of termination, prohibition, restriction, consent requirement or law, rule or regulation is unenforceable after giving effect to applicable provisions of the UCC, other than proceeds thereof, the assignment of which is expressly deemed effective
under the UCC notwithstanding such prohibitions), or if the provision of such pledge by such Obligor at the time of such Investment is impractical (in the reasonable business judgment of the Parent Borrower), 100% of the Equity Interests of the
Wholly-Owned Restricted Subsidiary of the Parent Borrower (which, for the avoidance of doubt, shall be an Obligor) which is the direct holder of the Equity Interests in such non-Obligor, (Y) any other
Equity Interests acquired by any Borrower or any Restricted Subsidiary of the Parent Borrower required to be pledged under the First Lien Loan Documents and (Z) any Equity Interests of an Applicable Subsidiary, (iii) motor vehicles, rail
cars, Vessels, airplanes and other assets subject to certificates of title other than the Vessel Collateral, except for any of the foregoing required to be pledged under the First Lien Loan Documents, (iv) except in each case to the extent
excluded from the definition of “Excluded Assets” pursuant to the preceding clause (ii)(X), (ii)(Y) or (ii)(Z), any Equity Interests held by any Obligor of any Person (other than a wholly-owned Subsidiary of the Parent Borrower) to the
extent (and so long as) pledging or granting a security interest in such Equity Interest would result in a termination (or right of termination) of (other than any termination or right of termination in favor of the Parent Borrower or any of its
Restricted Subsidiaries), or is prohibited or otherwise restricted by, any contractual obligation applicable to such Obligor or such Equity Interests (other than any such obligation in favor of the Parent Borrower or any of its Restricted
Subsidiaries) or would require a consent from any third party (unless such consent has been received) (other than the Parent Borrower or any of its Restricted Subsidiaries) or would violate any applicable law, rule or regulation (in each case,
except to the extent such termination, right of termination, prohibition, restriction, consent requirement or law, rule or regulation is unenforceable after giving effect to 

  
 4 

 
applicable provisions of the UCC, other than proceeds thereof, the assignment of which is expressly deemed effective under the UCC notwithstanding such prohibitions), (v) any assets (other than
Vessel Collateral, Deposit Accounts and Securities Accounts) over which the pledging of or granting of security interests in such assets would result in a termination (or right of termination) of, or is prohibited or otherwise restricted by, an
enforceable contractual obligation binding on the assets that existed at the time of the acquisition thereof and was not created or made binding on the assets in contemplation or in connection with the acquisition of such assets (other than any such
obligation in favor of the Parent Borrower or any of its Restricted Subsidiaries), would be prohibited by applicable law, rule or regulation (in each case, except to the extent such termination, right of termination, prohibition, restriction,
consent requirement or law, rule or regulation is unenforceable after giving effect to applicable provisions of the UCC, other than proceeds thereof, the assignment of which is expressly deemed effective under the UCC notwithstanding such
prohibitions) or to the extent that such security interests would require obtaining the consent of any Governmental Authority (unless such consent has been received) or would result in materially adverse tax consequences as reasonably determined in
good faith by the Parent Borrower in writing delivered to the Collateral Agent; provided that the Parent Borrower shall use commercially reasonable efforts to obtain any such required consent of a Governmental Authority, (vi) those assets with
respect to which, in the reasonable judgment of the Parent Borrower, evidenced in writing, delivered to the Collateral Agent, the costs or other consequences of obtaining or perfecting such a security interest are excessive in view of the benefits
to be obtained by the Secured Parties therefrom, (vii) any Letter of Credit Rights (other than to the extent a Lien thereon can be perfected by filing a customary financing statement), (viii) any right, title or interest in or under any permit,
lease, license, contract or agreement to the extent, but only to the extent, that such a grant would violate the terms of applicable law or of such license, contract or agreement, or result in the termination of or a breach of the terms of, or
constitute a default under, any such license, contract or agreement or if the contract or agreement in which such Lien is granted prohibits or requires the consent of any Person other than the Parent Borrower or any of its Restricted Subsidiaries as
a condition to the creation of any other security interest on such equipment or asset (other than to the extent that any such term would be rendered ineffective pursuant to Section 9-406, 9-407, 9-408 or 9-409 of the UCC or any other applicable law (including Title 11 of the United States Code) or principles of equity),
(ix) any “intent-to-use” application for registration of a trademark filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. § 1051, prior to the
filing of a “Statement of Use” pursuant to Section 1(d) of the Lanham Act or an “Amendment to Allege Use” pursuant to Section 1(c) of the Lanham Act with respect thereto, solely to the extent, if any, that, and solely
during the period, if any, in which, the grant of a security interest therein would impair the validity or enforceability of any registration that issues from such
intent-to-use application under applicable federal law, (x) any real property (owned or leased) that is required to be pledged under the First Lien Loan Documents,
(xi) any Excluded Accounts, (xii) any Property owned by any Subsidiary that is organized outside of the United States, except for any such Property that is required to be pledged under the First Lien Loan Documents, (xiii) except in
each case to the extent excluded from the definition of “Excluded Assets” pursuant to the preceding clause (ii)(X), (ii)(Y) or (ii)(Z), any assets of or Equity Interests in an Unrestricted Subsidiary, (xiv) any Inventory or Equipment
(including spare parts) that is not installed for use aboard, or otherwise necessary for the operation of, Vessel Collateral whether on board or not (including equipment that is not owned by the Parent Borrower or any of its Restricted Subsidiaries
and that is installed 

  
 5 

 
aboard any Vessel Collateral), in each case to the extent that such items may be used in connection with one or more of the Vessels that are not (and not required to be) Vessel Collateral, except
for any such Inventory or Equipment that is required to be pledged under the First Lien Loan Documents, and (xv) any other assets or property not described in the foregoing clauses of this definition (other than Deposit Accounts and Securities
Accounts) that do not arise from, are not required for use in connection with, and are not necessary for, the operation of the Vessel Collateral (whether or not the applicable Vessel Collateral is actually being used), except for any such assets or
property that is required to be pledged under the First Lien Loan Documents; provided, however, that any Proceeds, products, substitutions or replacements of Excluded Assets shall not constitute Excluded Assets unless such Proceeds, products,
substitutions or replacements would themselves constitute Excluded Assets. Notwithstanding the foregoing, nothing in this definition of “Excluded Assets” shall affect the requirement in Section 8.14 of the Credit Agreement
relating to the pledge of Equity Interests of certain Foreign Subsidiaries or guaranty thereof by such pledgor. For the avoidance of doubt, in no event shall (x) any Vessel Collateral or (y) any assets or Property not constituting an
Excluded Asset under First Lien Loan Documents, in each case, constitute Excluded Assets. 
 “Federal Securities Laws” has
the meaning assigned such term in Section 6.04(b). 
 “Guaranteed Creditors” means the collective reference to
(i) the Administrative Agent, the Collateral Agent, the Lenders, each sub-agent appointed by any Agent pursuant to Section 11.05 of the Credit Agreement with respect to matters relating to the Loan
Documents and the successors and permitted assigns of such Persons and (ii) any Pari Passu Collateral Agent, any Pari Passu Lien Representative, any lender or holder of any Pari Passu Lien Debt with respect to matters relating to any Pari Passu
Lien Document and the successors and permitted assigns of such Persons. 
 “Guaranteed Documents” means the collective
reference to (i) the Loan Documents and any other document made, delivered or given in connection with any of the Loan Documents and (ii) the Pari Passu Lien Documents and any other document made, delivered or given in connection with any
of the Pari Passu Lien Documents. 
 “Guarantor Obligations” means with respect to any Guarantor, the collective reference
to (i) the Borrower Obligations and (ii) the payment and performance when due of all indebtedness, liabilities, obligations and undertakings of such Guarantor of every kind or description, whether direct or indirect, absolute or
contingent, due or to become due, or now existing or hereafter incurred, arising out of or outstanding under, advanced or issued pursuant to, or evidenced by, any Guaranteed Document to which such Guarantor is a party, in each case, whether on
account of principal, interest, guarantee obligations, reimbursement obligations, payments in respect of an early termination date, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel
to any Guaranteed Creditor under any Guaranteed Document). 
 “Guarantors” means the collective reference to each Obligor
other than the Borrowers. 

  
 6 

 “Obligations” means: (a) in the case of each Borrower, the Borrower
Obligations and (b) in the case of each Guarantor, its Guarantor Obligations, and collectively, the Borrower Obligations and the Guarantor Obligations as the context may require. 

“Obligor Claims” has the meaning assigned to such term in Section 8.01. 

“Obligors” has the meaning assigned to such term in the preamble. 

“Pari Passu Lien Obligations” means all amounts owing to any lender or holder of Pari Passu Lien Debt pursuant to the terms
of any Pari Passu Lien Document, including all amounts in respect of any principal, interest, penalties, fees, indemnifications, reimbursements, damage and other liabilities payable thereunder, and guarantees of the foregoing amounts (including,
without limitation, interest accruing at the then applicable rate provided in the Pari Passu Lien Documents after the maturity of the Pari Passu Lien Debt and amounts accruing after the filing of any petition in bankruptcy, or the commencement of
any insolvency, reorganization or like proceeding, relating to any Obligor (or that would accrue but for the commencement of such proceeding), whether or not a claim for such post-filing or post-petition amounts is allowed in such proceeding). 

“Perfection Certificate” means the Perfection Certificate dated the Effective Date executed and delivered by the Parent
Borrower to the Collateral Agent. 
 “Pledge-Related Rights” means, collectively, (a) all payments of principal or
interest, dividends, cash, instruments and other property from time to time received, receivable or otherwise distributed in respect of, in exchange for or upon the conversion of Pledged Collateral, (b) all rights and privileges of such Obligor
with respect to the Pledged Collateral; provided that the Collateral Agent cannot exercise such rights and privileges unless an Event of Default has occurred and is continuing and (c) all Proceeds of any of the foregoing. 

“Pledged Collateral” means, all of the Equity Interests listed on Schedule 5 hereto and all Pledge-Related Rights in respect
thereof, together with any other Equity Interests of any Person that may be issued or granted to, or held by, any Obligor while this Agreement is in effect and that is required to be pledged hereunder pursuant to the terms of this Agreement or is
pledged in accordance with the terms of the Guaranteed Documents and all Pledge-Related Rights in respect thereof, in each case, excluding any Excluded Assets. 

“Proceeds” means all “proceeds” as such term is defined in
Section 9-102(a)(64) of the UCC. 
 “Specified Vessels” means the Vessels HOS
Warhorse and HOS Wildhorse. 
 “UCC” means the Uniform Commercial Code as from time to time in effect in the State of New
York; provided, however, that, in the event that, by reason of mandatory provisions of law, any of the attachment, perfection or priority of the Collateral Agent’s and the Guaranteed Creditors’ security interest in any Collateral is
governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof
relating to such attachment, perfection, the effect thereof or priority and for purposes of definitions related to such provisions. 

  
 7 

 Section 1.02 Other Definitional Provisions. Where the context requires, terms
relating to the Collateral or any part thereof, when used in relation to an Obligor refer to the Obligor’s Collateral or the relevant part thereof. 

Section 1.03 Rules of Interpretation. Section 1.04 and Section 1.05 of the Credit Agreement are hereby incorporated
herein by reference and shall apply to this Agreement, mutatis mutandis. All references herein to schedules shall be deemed to refer to such schedules as supplemented from time to time pursuant to an Assumption Agreement or otherwise in
accordance with this Agreement. 
 ARTICLE II 

Guarantee 

Section 2.01 Guarantee. 

(a) Each of the Guarantors hereby jointly and severally, unconditionally and irrevocably, guarantees to the Guaranteed Creditors and each of
their respective permitted successors, indorsees, transferees and assigns, the prompt and complete payment in cash and performance by the Borrowers when due (whether at the stated maturity, by acceleration or otherwise) of the Borrower Obligations.
This is a guarantee of payment and not collection and the liability of each Guarantor is primary and not secondary. 
 (b) Anything herein or
in any other Guaranteed Document to the contrary notwithstanding, the Obligations of each Guarantor hereunder and under the other Guaranteed Documents shall be limited to the maximum amount as will result in the Obligations of such Guarantor under
this Agreement not constituting a fraudulent transfer or fraudulent conveyance for purposes of any Debtor Relief Law to the extent applicable to this Agreement and the Obligations of each Guarantor hereunder (after giving effect to the right of
contribution established in Section 2.02). 
 (c) Each Guarantor agrees that the Borrower Obligations may at any time and from time to
time exceed the amount of the liability of such Guarantor hereunder without impairing the guarantee contained in this ARTICLE II or affecting the rights and remedies of any Guaranteed Creditor hereunder. 

(d) Each Guarantor agrees that if the maturity of the Borrower Obligations is accelerated by bankruptcy or otherwise, such maturity shall also
be deemed accelerated for the purpose of this guarantee without demand or notice to such Guarantor. The guarantee contained in this ARTICLE II shall remain in full force and effect until all the Borrower Obligations shall have been satisfied by
payment in full in cash and all Commitments are terminated notwithstanding that from time to time during the term of the Credit Agreement, no Borrower Obligations may be outstanding. 

  
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 (e) No payment made by any Obligor, any other guarantor or any other Person or received or
collected by any Guaranteed Creditor from any Obligor, any other guarantor or any other Person by virtue of any action or proceeding or any set-off or appropriation or application at any time or from time to
time in reduction of or in payment of the Borrower Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any Guarantor hereunder which shall, notwithstanding any such payment (other than any payment made by such
Guarantor in respect of the Borrower Obligations or any payment received or collected from such Guarantor in respect of the Borrower Obligations), remain liable for the Borrower Obligations up to the maximum liability of such Guarantor hereunder
until the Borrower Obligations are paid in full in cash and all of the Commitments have expired or are terminated. 
 Section 2.02
Right of Contribution. Each Guarantor hereby agrees that to the extent that a Guarantor shall have paid more than its proportionate share of any payment made hereunder, such Guarantor shall be entitled to seek and receive contribution from
and against any other Guarantor hereunder which has not paid its proportionate share of such payment. Each Guarantor’s right of contribution shall be subject to the terms and conditions of Section 2.03. The provisions of this
Section 2.02 shall in no respect limit the obligations and liabilities of any Guarantor to the Guaranteed Creditors, and each Guarantor shall remain liable to the Guaranteed Creditors for the full amount guaranteed by such Guarantor hereunder.

 Section 2.03 No Subrogation. Notwithstanding any payment made by any Guarantor hereunder or any set-off or application of funds of any Guarantor by any Guaranteed Creditor, no Guarantor shall be entitled to be subrogated to any of the rights of any Guaranteed Creditor against any Borrower or any other
Guarantor or any collateral security or guarantee or right of offset held by any Guaranteed Creditor for the payment of the Borrower Obligations, nor shall any Guarantor seek or be entitled to seek any indemnity, exoneration, participation,
contribution or reimbursement from any Borrower or any other Guarantor in respect of payments made by such Guarantor hereunder, until all amounts owing to the Guaranteed Creditors on account of the Borrower Obligations are irrevocably paid in full
in cash and all of the Commitments have expired or are terminated. If any amount shall be paid to any Guarantor on account of such subrogation rights at any time when all of the Borrower Obligations shall not have been irrevocably paid in full in
cash or any of the Commitments are in effect, such amount shall be held by such Guarantor in trust for the Guaranteed Creditors, and shall, forthwith upon receipt by such Guarantor, be turned over to the Collateral Agent in the exact form received
by such Guarantor (duly indorsed by such Guarantor to the Collateral Agent, if required), to be applied against the Borrower Obligations, whether matured or unmatured, in accordance with Section 10.02(c) of the Credit Agreement or the Pari
Passu Intercreditor Agreement if then in effect. 
 Section 2.04 Amendments, Etc. with respect to the Borrower Obligations. Each
Guarantor shall remain obligated hereunder, and such Guarantor’s obligations hereunder shall not be released, discharged or otherwise affected, notwithstanding that, without any reservation of rights against any Guarantor and without notice to,
demand upon or further assent by any Guarantor (which notice, demand and assent requirements are hereby expressly waived by such Guarantor), (a) any demand for payment of any of the Borrower Obligations made by any Guaranteed Creditor may be
rescinded by such Guaranteed Creditor or otherwise and any of the Borrower Obligations continued; (b) the Borrower Obligations, the liability of any other Person upon or for any part thereof or any collateral security or guarantee therefor or
right of 

  
 9 

 
offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by, or any indulgence
or forbearance in respect thereof granted by, any Guaranteed Creditor; (c) any Guaranteed Document may be amended, modified, supplemented or terminated, in whole or in part, as the Guaranteed Creditors may deem advisable from time to time,
subject to Section 12.02(b) of the Credit Agreement and the Pari Passu Intercreditor Agreement if then in effect; (d) any collateral security, guarantee or right of offset at any time held by any Guaranteed Creditor for the payment of the
Borrower Obligations may be sold, exchanged, waived, surrendered or released; (e) any additional guarantors, makers or endorsers of the Borrower Obligations may from time to time be obligated on the Borrower Obligations or any additional
security or collateral for the payment and performance of the Borrower Obligations may from time to time secure the Borrower Obligations; (f) any change in applicable law, rule or regulation or any event affecting any term of the Borrower
Obligations; and (g) any other event shall occur which constitutes a defense or release of sureties generally. No Guaranteed Creditor shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security
for the Borrower Obligations or for the guarantee contained in this ARTICLE II or any Property subject thereto. 
 Section 2.05
Waivers. Each Guarantor hereby waives any and all notice of the creation, renewal, extension or accrual of any of the Borrower Obligations and notice of or proof of reliance by any Guaranteed Creditor upon the guarantee contained in this
ARTICLE II or acceptance of the guarantee contained in this ARTICLE II; the Borrower Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred, or renewed, extended, amended or waived, in reliance upon
the guarantee contained in this ARTICLE II and no notice of creation of the Borrower Obligations or any extension of credit already or hereafter contracted by or extended to the Borrowers need be given to any Guarantor; and all dealings between the
Borrowers and any of the Guarantors, on the one hand, and the Guaranteed Creditors, on the other hand, likewise shall be conclusively presumed to have been had or consummated in reliance upon the guarantee contained in this ARTICLE II. Each
Guarantor waives diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon any Borrower or any of the Guarantors with respect to the Borrower Obligations. 

Section 2.06 Guaranty Absolute and Unconditional. 

(a) Each Guarantor understands and agrees that the guarantee contained in this ARTICLE II is, and shall be construed as, a continuing,
complete, absolute and unconditional guarantee of payment, and each Guarantor hereby waives any defense of a surety or guarantor or any other obligor on any obligations arising in connection with or in respect of any of the following and hereby
agrees that its obligations hereunder shall not be discharged or otherwise affected as a result of, any of the following: 
 (i) the
invalidity or unenforceability of any Guaranteed Document, any of the Borrower Obligations or any other collateral security therefor or guarantee or right of offset with respect thereto at any time or from time to time held by any Guaranteed
Creditor; 

  
 10 

 (ii) any defense, set-off or counterclaim (other
than a defense of payment or performance) which may at any time be available to or be asserted by any Borrower or any other Person against any Guaranteed Creditor; 

(iii) the insolvency, bankruptcy arrangement, reorganization, adjustment, composition, liquidation, disability, dissolution or lack of power
of any Borrower or any other Guarantor or any other Person at any time liable for the payment of all or part of the Obligations, including any discharge of, or bar or stay against collecting, any Obligation (or any part of them or interest therein)
in or as a result of such proceeding; 
 (iv) any sale, lease or transfer of any or all of the assets of any Borrower or any other
Guarantor, or any changes in the shareholders of a Borrower or a Guarantor; 
 (v) any change in the corporate existence (including its
constitution, laws, rules, regulations or power), structure or ownership of any Obligor; 
 (vi) the fact that any Collateral or Lien
contemplated or intended to be given, created or granted as security for the repayment of the Obligations shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other Lien, it being recognized and agreed
by each of the Guarantors that it is not entering into this Agreement in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectability or value of any of the Collateral for the Obligations; 

(vii) the absence of any attempt to collect the Obligations or any part of them from any Obligor; 

(viii) (A) any Guaranteed Creditor’s election, in any proceeding instituted under chapter 11 of the Bankruptcy Code, of the
application of Section 1111(b)(2) of the Bankruptcy Code; (B) any borrowing or grant of a Lien by any Borrower, as debtor-in-possession, or extension of
credit, under Section 364 of the Bankruptcy Code; (C) the disallowance, under Section 502 of the Bankruptcy Code, of all or any portion of any Guaranteed Creditor’s claim (or claims) for repayment of the Obligations; (D) any
use of cash collateral under Section 363 of the Bankruptcy Code; (E) any agreement or stipulation as to the provision of adequate protection in any bankruptcy proceeding; (F) the avoidance of any Lien in favor of the Guaranteed
Creditors or any of them for any reason; or (G) failure by any Guaranteed Creditor to file or enforce a claim against any Borrower or its estate in any bankruptcy or insolvency case or proceeding; 

(ix) any change in the time, manner or place of payment of, or in any other term of all or any of the Obligations; or 

(x) any other circumstance or act whatsoever, including any action or omission of the type described in Section 2.04 (with or without
notice to or knowledge of any Borrower or such Guarantor), which constitutes, or might be construed to constitute, an equitable or legal discharge of such Borrower for the Borrower Obligations, or of such Guarantor under the guarantee contained in
this ARTICLE II, in bankruptcy or in any other instance. 

  
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 (b) When making any demand hereunder or otherwise pursuing its rights and remedies hereunder
against any Guarantor, any Guaranteed Creditor may, but shall be under no obligation to, join or make a similar demand on or otherwise pursue or exhaust such rights and remedies as it may have against any Borrower, any other Guarantor or any other
Person or against any collateral security or guarantee for the Borrower Obligations or any right of offset with respect thereto, and any failure by any Guaranteed Creditor to make any such demand, to pursue such other rights or remedies or to
collect any payments from any Borrower, any other Guarantor or any other Person or to realize upon any such collateral security or guarantee or to exercise any such right of offset, or any release of the Borrowers, any other Guarantor or any other
Person or any such collateral security, guarantee or right of offset, shall not relieve any Guarantor of any obligation or liability hereunder, and shall not impair or affect the rights and remedies, whether express, implied or available as a matter
of law, of any Guaranteed Creditor against any Guarantor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings. 

Section 2.07 Reinstatement. The guarantee contained in this ARTICLE II shall continue to be effective, or be reinstated, as the
case may be, if at any time payment, or any part thereof, of any of the Borrower Obligations is rescinded or must otherwise be restored or returned by any Guaranteed Creditor upon the insolvency, bankruptcy, dissolution, liquidation or
reorganization of any 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, any Borrower or any Guarantor or any substantial part of its Property, or
otherwise, all as though such payments had not been made. 
 Section 2.08 Payments. Each Guarantor hereby guarantees that
payments under this Article II will be paid to the Administrative Agent, for the ratable benefit of the Guaranteed Creditors, without set-off, deduction or counterclaim in dollars, in immediately available
funds, at the offices of the Administrative Agent specified in Section 12.01 of the Credit Agreement or the Pari Passu Intercreditor Agreement if then in effect. If acceleration of the time for payment of any Guarantor Obligation is stayed by
reason of the insolvency or receivership of any Guarantor or otherwise, all Guarantor Obligations otherwise subject to acceleration under the terms of any Guaranteed Document shall nonetheless be payable by the Guarantors hereunder. 

ARTICLE III 
 Grant of
Security Interest and Pledge of Equity Interests 
 Section 3.01 Collateral. Each Obligor hereby pledges, assigns and
transfers to the Collateral Agent, and hereby grants to the Collateral Agent, for the ratable benefit of the Guaranteed Creditors, a security interest in all of the following Property now owned or at any time hereafter acquired by it or in which
such Obligor now has or at any time in the future may acquire any right, title or interest (collectively, the “Collateral”), as collateral security for the prompt and complete payment and performance when due (whether at the stated
maturity, by acceleration or otherwise) of the Obligations (whether now existing or hereafter arising): 
  

	 	(1)	 all Accounts; 

  
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	 	(2)	 all Chattel Paper (whether Tangible Chattel Paper or Electronic Chattel Paper); 

 

	 	(3)	 all Commercial Tort Claims; 

 

	 	(4)	 all cash and Deposit Accounts; 

 

	 	(5)	 all Documents; 

  

	 	(6)	 all Fixtures; 

  

	 	(7)	 all General Intangibles; 

 

	 	(8)	 all Goods (including, without limitation, all Inventory and all Equipment); 

 

	 	(9)	 all Instruments; 

  

	 	(10)	 all Investment Property (including, without limitation, Commodity Accounts and Securities Accounts);

  

	 	(11)	 all Letter-of-Credit Rights
(whether or not the letter of credit is evidenced by a writing); 

  

	 	(12)	 all Supporting Obligations; 

 

	 	(13)	 all Pledged Collateral; 

 

	 	(14)	 all books and records pertaining to the Collateral; and 

 

	 	(15)	 to the extent not otherwise included, all Proceeds and products of any and all of the foregoing and all
collateral security and guarantees given by any Person with respect to any of the foregoing; 

 provided, however, that notwithstanding
anything herein or in any other Guaranteed Document to the contrary, the Collateral shall not include and the security interests granted hereunder shall not attach to any Excluded Asset. 

None of the covenants or representations and warranties herein shall be deemed to apply to any property constituting Excluded Assets. 

ARTICLE IV 

Representations and Warranties 

To induce the Guaranteed Creditors to enter into the Guaranteed Documents and to induce the Guaranteed Creditors to make loans to the
Borrowers thereunder, each Obligor hereby represents and warrants to the Collateral Agent and each Guaranteed Creditor that: 

  
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 Section 4.01 Representations in Credit Agreement. In the case of each
Guarantor, the representations and warranties set forth in Article VII of the Credit Agreement as they relate to such Guarantor or to the Guaranteed Documents to which such Guarantor is a party are true and correct in all material respects, provided
that (a) each reference in each such representation and warranty to any Borrower’s knowledge shall, for the purposes of this Section 4.01, be deemed to be a reference to such Guarantor’s knowledge, (b) any representation and
warranty qualified by “materiality”, “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any such qualification therein), and (c) to the extent any such representation and warranty
is expressly limited to an earlier date, such representation and warranty shall be true and correct, as qualified, as of such specified earlier date. 

Section 4.02 Title; No Other Liens. Except for the security interest granted to the Collateral Agent for the ratable benefit of
the Guaranteed Creditors pursuant to this Agreement and as set forth in the following sentence, each Obligor has good title to its Collateral. Except for Permitted Liens and liens expressly permitted to exist under Section 1.08 of the Fleet
Mortgage securing all or any part of the Obligations, the Collateral is free and clear of any and all Liens and the applicable Obligor has the power to transfer each item of the Collateral in which a Lien is granted by it hereunder, free and clear
of any Lien. No financing statement or other public notice with respect to all or any part of the Collateral is on file or of record in any public office, except such as have been filed in favor of the Collateral Agent, for the ratable benefit of
the Guaranteed Creditors, pursuant to this Agreement or the Security Instruments, and/or to evidence Permitted Liens. 
 Section 4.03
Perfected Liens. The security interests granted pursuant to this Agreement (a) upon the completion of the filings specified on Schedule 2 or the taking of possession or control by the Collateral Agent (or the First Lien Collateral Agent
as such and as gratuitous bailee under the Junior Lien Intercreditor Agreement) of the Collateral with respect to which a security interest may be perfected only by possession or control and the completion of all such other filings and required
actions specified on Schedule 2 will constitute valid perfected security interests in all of the Collateral in favor of the Collateral Agent, for the ratable benefit of the Guaranteed Creditors, as collateral security for the Obligations,
enforceable in accordance with the terms hereof against all creditors of the Obligors and any Persons purporting to purchase any Collateral from the Obligors and (b) are prior to all other Liens on the Collateral, subject only to Permitted
Liens on such Collateral that are expressly permitted under the Credit Agreement to have equal or prior ranking on the Collateral (including any prior liens securing a Revolver Facility permitted under the terms of the Credit Agreement on accounts
receivable, Proceeds thereof and other assets incidental to any such Revolver Facility) or are to be discharged on the Effective Date; subject, however, in each case with respect to Proceeds (other than Proceeds related to accounts receivable and
other assets incidental to a Revolver Facility permitted under the terms of the Credit Agreement), to the provisions of Section 9-315 of the UCC. 

Section 4.04 Obligor Information. As of the date hereof, the correct legal name of each Obligor, all names and trade names that
each Obligor has used in the last five years, each Obligor’s jurisdiction of organization and each jurisdiction of organization of each Obligor over the last five years, organizational number, taxpayer identification number, and the location(s)
of each Obligor’s chief executive office or sole place of business over the last five years are specified on Schedule 3. 

  
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 Section 4.05 Benefit to the Guarantor. Each Borrower is a member of an
affiliated group of companies that includes each Guarantor and each Borrower, and the other Guarantors are engaged in related businesses. Each Guarantor is an Affiliate of each Borrower and its guaranty and surety obligations pursuant to this
Agreement reasonably may be expected to benefit, directly or indirectly, it; and it has determined that this Agreement is necessary and convenient to the conduct, promotion and attainment of its business and the business of each other Guarantor and
each Borrower. 
 Section 4.06 Perfection Certificate and Other Information Regarding Collateral. The Perfection Certificate
has been duly prepared, completed and executed and the information set forth therein is correct and complete in all material respects as of the Effective Date. 

ARTICLE V 
 Covenants

 Each Obligor covenants and agrees with the Collateral Agent and the Guaranteed Creditors that, from and after the Effective Date
until the Borrower Obligations shall have been paid in full in cash and all of the Commitments shall have terminated: 
 Section 5.01
Covenants in Credit Agreement. In the case of each Guarantor, such Guarantor shall take, or shall refrain from taking, as the case may be, each action that is necessary to be taken or not taken, as the case may be, so that no Default is
caused by the failure to take such action or to refrain from taking such action by such Guarantor or any of its Subsidiaries. 

Section 5.02 Maintenance of Perfected Security Interest; Further Documentation. 

(a) The Obligors shall maintain the security interest created by this Agreement as a perfected security interest having at least the priority
described in Section 4.03 and shall defend such security interest against the claims and demands of all Persons whomsoever except Permitted Liens; provided that, (i) with respect to Deposit Accounts, Securities Accounts and Commodity
Accounts, in each case, that do not constitute Excluded Accounts, the Obligors shall establish Account Control Agreements with respect to such Deposit Accounts, Securities Accounts and Commodity Accounts as soon as commercially practicable and in
any event (x) with respect to such Deposit Accounts, Securities Accounts and Commodity Accounts existing as of the Effective Date, within sixty (60) days after the date hereof and (y) with respect to such Deposit Accounts, Securities
Accounts and Commodity Accounts opened or otherwise acquired after the Effective Date, within sixty (60) days after the date that such Deposit Account, Securities Account or Commodity Account was opened or otherwise acquired by such Obligor;
provided that, the overnight balance in Deposit Accounts, Securities Accounts or Commodity Accounts referred to in clause (y) of this proviso over which there is not an Account Control Agreement shall not exceed, together with Deposit Accounts,
Securities Accounts or Commodity Accounts excluded pursuant to clause (v) of the definition of “Excluded Accounts”, $10,000,000 and (ii) the Obligors shall cause any cash that is generated by, or otherwise arises from,
Vessel Collateral or Accounts arising therefrom to be promptly deposited into a Deposit Account of an Obligor. 

  
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 (b) At any time and from time to time, upon the reasonable request of the Collateral Agent,
the Obligors will furnish to the Collateral Agent and the Lenders from time to time statements and schedules further identifying and describing the Collateral and such other reports in connection with the Collateral as the Collateral Agent may
reasonably request, all in reasonable detail. 
 (c) At any time and from time to time, upon the written request of the Collateral Agent, and
at the sole expense of the Borrowers, the Obligors will promptly and duly execute and deliver, and have recorded, such further instruments and documents and take such further actions as the Collateral Agent may reasonably deem necessary for the
purpose of obtaining or preserving the full benefits of this Agreement (including, without limitation, the perfection and Lien priority set forth herein) and of the rights and powers herein granted, including, without limitation, the filing of any
financing or continuation statements under the UCC (or other similar laws) in effect in any jurisdiction with respect to the security interests created hereby. 

Section 5.03 Changes in Locations, Name, Etc. Each Obligor recognizes that financing statements pertaining to the Collateral have
been or may be filed where such Obligor maintains any Collateral or is organized. No Obligor will cause or permit any change in its (a) corporate name or in any trade name used to identify it in the conduct of its business or in the ownership
of its Properties, (b) the location of its chief executive office or principal place of business, (c) its identity or form of organization or in the jurisdiction in which it is formed, (d) its jurisdiction of organization or its
organizational identification number in such jurisdiction of organization or (e) its federal taxpayer identification number, unless, in each case, it shall have (i) notified the Collateral Agent in writing of such change at least five
(5) Business Days after the effective date of such change (or such other time period agreed to in writing by the Collateral Agent), and (ii) taken, or caused to be taken, all action necessary and appropriate for the purpose of maintaining
the perfection and priority of the Collateral Agent’s security interests under this Agreement. In any notice furnished pursuant to this Section 5.03, the Obligor will expressly state in a conspicuous manner that the notice is required by
this Agreement and contains facts that may require additional filings of financing statements or other notices for the purposes of continuing perfection of the Collateral Agent’s security interest in the Collateral. 

Section 5.04 Delivery of the Pledged Collateral. Each Obligor that has pledged Pledged Collateral hereunder agrees to deliver or
cause to be delivered to the Collateral Agent (or the First Lien Collateral Agent as such and as gratuitous bailee under the Junior Lien Intercreditor Agreement) any and all certificates evidencing Pledged Collateral, if any (accompanied by undated
stock powers duly executed in blank and reasonably satisfactory to the Collateral Agent and by such other instruments and documents as the Collateral Agent may reasonably request) within (i) the timeframe required under Section 8.14 of the
Credit Agreement and (ii) promptly (and in any event within ten (10) Business Days or such later date as the Required Lenders reasonably agree (it being understood that if approved by the First Lien Required Lenders, it shall be deemed
approved by the Required Lenders)) after the acquisition of additional Equity Interests in respect of any Pledged Collateral. Each delivery of Pledged 

  
 16 

 
Collateral shall be accompanied by a schedule describing such Pledged Collateral, which schedule shall be attached hereto as Schedule 5 and made a part hereof; provided that failure to attach any
such schedule hereto shall not affect the validity of such pledge of such Pledged Securities. Each schedule so delivered shall supplement any prior schedules so delivered. Each Obligor acknowledges and agrees that (i) solely to the extent any
interest in any limited liability company or limited partnership controlled now or in the future by such Obligor (or by such Obligor and one or more other Obligors) that constitutes Pledged Collateral and is pledged hereunder is a
“security” within the meaning of Article 8 of the UCC and is governed by Article 8 of the UCC, such interest shall be certificated and such certificate shall be delivered to the Collateral Agent in accordance with this Section 5.04
and (ii) each such interest shall at all times hereafter continue to be such a security and represented by such certificate. 

ARTICLE VI 
 Remedial
Provisions 
 Section 6.01 Code and Other Remedies. 

In each case, subject to the terms and conditions of the Pari Passu Intercreditor Agreement if then in effect: 

(a) Subject to the Intercreditor Agreements, upon the occurrence and during the continuance of an Event of Default, the Collateral Agent, on
behalf of the Guaranteed Creditors, (i) may exercise, in addition to all other rights and remedies granted to them in this Agreement, the other Guaranteed Documents and in any other instrument or agreement securing, evidencing or relating to
the Obligations, all rights and remedies of a secured party under the UCC or any other applicable law or otherwise available at law or equity and (ii) without limiting the generality of the foregoing, the Collateral Agent, without demand of
performance or other demand, presentment, protest, notice of intent to accelerate, notice of acceleration advertisement or notice of any kind (except any notice required by law referred to below, which cannot be waived by law and any notice that is
expressly required under this Agreement or any other Guaranteed Document) to or upon any Obligor or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived to the extent permitted by applicable law),
may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, grant option or options to purchase, or otherwise dispose of and deliver 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 any Guaranteed Creditor or elsewhere upon such terms and conditions as the
Required Lenders may deem advisable and at such prices as the Required Lenders may deem best, for cash or on credit or for future delivery without assumption of any credit risk. Any Guaranteed Creditor 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 Obligor, which right or equity is hereby waived and
released. Subject to the Intercreditor Agreements, if an Event of Default shall occur and be continuing, each Obligor further agrees, at the Collateral Agent’s request (acting at the written direction of the Required Lenders or the requisite
Guaranteed Creditors as provided in the Pari Passu Intercreditor Agreement if then in effect), to assemble the Collateral and make it available to the Collateral Agent at places which the 

  
 17 

 
Collateral Agent (acting at the written direction of the Required Lenders or the requisite Guaranteed Creditors as provided in the Pari Passu Intercreditor Agreement if then in effect) shall
reasonably select, whether at such Obligor’s premises or elsewhere. Any such sale or transfer by the Collateral Agent (acting at the written direction of the Required Lenders or the requisite Guaranteed Creditors as provided in the Pari Passu
Intercreditor Agreement if then in effect) either to itself or to any other Person shall be absolutely free from any claim of right by Obligor, including any equity or right of redemption, stay or appraisal which Obligor has or may have under any
rule of law, regulation or statute now existing or hereafter adopted (and such Obligor hereby waives any rights it may have in respect thereof). Upon any such sale or transfer, the Collateral Agent (acting at the written direction of the Required
Lenders or the requisite Guaranteed Creditors as provided in the Pari Passu Intercreditor Agreement if then in effect) shall have the right to deliver, assign and transfer to the purchaser or transferee thereof the Collateral so sold or transferred.
The Collateral Agent (acting at the written direction of the Required Lenders or the requisite Guaranteed Creditors as provided in the Pari Passu Intercreditor Agreement if then in effect) shall apply the net proceeds of any action taken by it
pursuant to this Section 6.01, after deducting all reasonable fees, 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 way relating to the Collateral or
the rights of the Collateral Agent and the Guaranteed Creditors hereunder, including, without limitation, reasonable attorneys’ fees and disbursements, to the payment in whole or in part of the Obligations, in accordance with
Section 10.02(c) of the Credit Agreement (or the Pari Passu Intercreditor Agreement if then in effect), and only after such application and after the payment by the Collateral Agent of any other amount required by any provision of law,
including, without limitation, Section 9-615 of the UCC, need the Collateral Agent account for the surplus, if any, to any Obligor. To the extent permitted by applicable law, each Obligor waives all
claims, damages and demands it may acquire against the Collateral Agent or any Guaranteed Creditor arising out of the exercise by them of any rights hereunder, except where arising as a result of the Collateral Agent’s or any Guaranteed
Creditor’s gross negligence or willful misconduct. 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 ten (10) days before such
sale or other disposition. 
 (b) In the event that the Collateral Agent (acting at the written direction of the Required Lenders or the
requisite Guaranteed Creditors as provided in the Pari Passu Intercreditor Agreement if then in effect) elects not to sell the Collateral, the Collateral Agent retains its rights to dispose of or utilize the Collateral or any part or parts thereof
in any manner authorized or permitted by law or in equity, and to apply the proceeds of the same towards payment of the Obligations. Each and every method of disposition of the Collateral described in this Agreement shall constitute disposition in a
commercially reasonable manner. 
 (c) The Collateral Agent may appoint any Person as agent to perform any act or acts necessary or incident
to any sale or transfer of the Collateral. 
 Except when an Event of Default has occurred and is continuing, neither the Collateral Agent
nor any Guaranteed Creditor shall contact or communicate with, or attempt to contact or communicate with any customer of any Obligor in connection with the Collateral except with the participation of a Responsible Officer of such Obligor. 

  
 18 

 Section 6.02 Waiver; Deficiency. To the fullest extent permitted by applicable
law, each Obligor waives and agrees not to assert any rights or privileges which it may acquire under the UCC, except to the extent arising solely from the gross negligence or willful misconduct of the Collateral Agent; provided, however, that the
Obligors do not waive any rights or privileges to notice or the opportunity to cure otherwise provided under the Guaranteed Documents. Each Obligor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the
Collateral are insufficient to pay its Obligations and the fees and disbursements of any attorneys employed by the Collateral Agent or any Guaranteed Creditor to collect such deficiency. The officers, directors and managers, as applicable, of the
Obligors shall in no event be personally liable for any such deficiency. 
 Section 6.03
Non-Judicial Enforcement. To the extent permitted by applicable law, the Collateral Agent may enforce its rights hereunder without prior judicial process or judicial hearing, and to the extent permitted
by law, each Obligor expressly waives any and all legal rights which might otherwise require the Collateral Agent to enforce its rights by judicial process. 

Section 6.04 Pledged Collateral. In each case, subject to the terms and conditions of the Pari Passu Intercreditor Agreement if
then in effect: (a) Subject to the Intercreditor Agreements, if an Event of Default shall have occurred and is continuing, (i) the Collateral Agent, on behalf of the Guaranteed Creditors, shall have the right (in its sole and absolute
discretion or at the direction of the Required Lenders or the requisite Guaranteed Creditors as provided in the Pari Passu Intercreditor Agreement if then in effect) to hold the Pledged Collateral in the name of the applicable Obligor, endorsed or
assigned in blank or in favor of the Collateral Agent or in its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Obligor will promptly give to the Collateral Agent
copies of any notices or other communications received by it with respect to Pledged Collateral registered in the name of such Obligor and (ii) the Collateral Agent shall at all times have the right to exchange the certificates representing
Pledged Collateral for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement. 
 (b) Each
Obligor recognizes that in light of certain restrictions and limitations under the Securities Act of 1933, as amended (such Securities Act and any such similar statute as from time to time in effect being called the “Federal Securities
Laws”), the Collateral Agent may, with respect to any sale of the Pledged Collateral, limit the purchasers to those who will agree, among other things, to acquire such Pledged Collateral for their own account, for investment and not with a
view to the distribution or resale thereof. Each Obligor acknowledges and agrees that in light of such restrictions and limitations, the Collateral Agent, in its sole and absolute discretion, (a) may proceed to make such a sale whether or not a
registration statement for the purpose of registering such Pledged Collateral or part thereof shall have been filed under the Federal Securities Laws to the extent the Collateral Agent has determined that such a registration is not required by any
requirement of law and (b) may approach and negotiate with a limited number of potential purchasers (including a single potential purchaser) to effect such sale. Notwithstanding the foregoing, the Collateral Agent may not engage in sale or
sales to “Aliens,” as defined in the Parent Borrower’s Second Restated Certificate of Incorporation, that could result in the applicable Subsidiary of the Parent Borrower losing its status as a United States citizen within the meaning
of Section 2 of the Shipping Act of 1916, as amended. Each Obligor 

  
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acknowledges and agrees that any such sale might result in prices and other terms less favorable to the seller than if such sale were a public sale without such restrictions. In the event of any
such sale, the Collateral Agent and the other Guaranteed Creditors shall incur no responsibility or liability for selling all or any part of the Pledged Collateral at a price that the Collateral Agent, in its sole and absolute discretion, may in
good faith deem reasonable under the circumstances, notwithstanding the possibility that a substantially higher price might have been realized if the sale were deferred until after registration as aforesaid or if more than a limited number of
purchasers (or a single purchaser) were approached. 
 ARTICLE VII 

The Collateral Agent 

Section 7.01 Collateral Agent’s Appointment as
Attorney-in-Fact, Etc. 
 (a) Each Obligor hereby
irrevocably constitutes and appoints the Collateral Agent and any officer or agent thereof, with full power of substitution, as its true and lawful attorney-in-fact with
full irrevocable power and authority in the place and stead of such Obligor and in the name of such Obligor or in its own name, for the purposes of carrying out the terms of this Agreement, to take any and all reasonably appropriate action and to
execute any and all documents and instruments which may be reasonably necessary or desirable to accomplish such purposes, and without limiting the generality of the foregoing, each Obligor hereby gives the Collateral Agent the power and right, on
behalf of such Obligor, without notice to or assent by such Obligor, to do any or all of the following, subject to the terms of this Agreement and any applicable Intercreditor Agreement: 

(i) unless being disputed under Section 8.03 of the Credit Agreement, pay or discharge Taxes and Liens levied or placed on or threatened
against the Collateral, effect any repairs or any insurance called for by the terms of this Agreement or any other Guaranteed Document and pay all or any part of the premiums therefor and the costs thereof; 

(ii) (A) direct any party liable for any payment under any of the Collateral to make payment of any and all moneys due or to become due
thereunder directly to the Collateral Agent or as the Collateral Agent shall direct; (B) ask or demand for, collect, and receive payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any time in
respect of or arising out of any Collateral; (C) in the name of such Obligor or its own name, or otherwise, take possession of and indorse and collect any check, draft, note, acceptance or other instrument for the payment of moneys due with
respect to any Collateral and commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect the Collateral or any portion thereof and to enforce any other right in respect of any
Collateral; (D) defend any suit, action or proceeding brought against such Obligor with respect to any Collateral; (E) settle, compromise or adjust any such suit, action or proceeding and, in connection therewith, give such discharges or
releases as the Collateral Agent may deem appropriate; and (F) generally, sell, transfer, pledge and make any agreement with respect to or otherwise deal with any of the Collateral as fully and completely as though the Collateral Agent were the
absolute owner thereof for all purposes, and do, at the Collateral Agent’s option and such Obligor’s expense, at any time, or from time to time, all acts and things which the Collateral Agent deems necessary to protect, preserve or realize
upon the Collateral and the Collateral Agent’s and the Guaranteed Creditors’ security interests therein and to effect the intent of this Agreement, all as fully and effectively as such Obligor might do. 

  
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 Anything in this Section 7.01(a) to the contrary notwithstanding, the Collateral Agent
agrees that it will not exercise any rights under the power of attorney provided for in this Section 7.01(a) unless an Event of Default shall have occurred and be continuing and it has received written direction from the Required Lenders (or
the requisite Guaranteed Creditors as provided in the Pari Passu Intercreditor Agreement if then in effect) and in each case in accordance with the terms and conditions of any applicable Intercreditor Agreement. 

(b) If any Obligor fails to perform or comply with any of its agreements contained herein within the applicable grace periods and as a result
of such failure an Event of Default shall have occurred and be continuing under any Guaranteed Document, the Collateral Agent, at its option, but without any obligation so to do, may perform or comply, or otherwise cause performance or compliance,
with such agreement in accordance with the terms and conditions of any applicable Intercreditor Agreement. 
 (c) The fees and expenses
(including legal fees and expenses) of the Collateral Agent incurred in connection with actions undertaken as provided in this Section 7.01, together with interest thereon at a rate per annum equal to the Default Rate specified in
Section 3.02(c) of the Credit Agreement, but in no event to exceed the Highest Lawful Rate, from the date of payment by the Collateral Agent to the date reimbursed by the relevant Obligor, shall be payable by such Obligor to the Collateral
Agent on demand. 
 (d) Each Obligor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue and in
compliance hereof. All powers, authorizations and agencies contained in this Agreement are coupled with an interest and are irrevocable until this Agreement is terminated and the security interests created hereby are released. 

Section 7.02 Duty of Collateral Agent. The Collateral Agent’s sole duty with respect to the custody, safekeeping and
physical preservation of the Collateral in its possession, under Section 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as the Collateral Agent deals with similar Property for
its own account and shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which comparable secured parties accord
comparable collateral. Neither the Collateral Agent, any Guaranteed Creditor nor any of their Related Parties shall be liable for failure to demand, collect or realize upon any of the Collateral or for any delay in doing so or shall be under any
obligation to sell or otherwise dispose of any Collateral upon the request of any Obligor or any other Person or to take any other action whatsoever with regard to the Collateral or any part thereof. The powers conferred on the Collateral Agent and
the Guaranteed Creditors hereunder are solely to protect the Collateral Agent’s and the Guaranteed Creditors’ interests in the Collateral and shall not impose any duty upon the Collateral Agent or any Guaranteed Creditor to exercise any
such powers. The Collateral Agent and the Guaranteed Creditors shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their Related Parties shall be responsible to any
Obligor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct. To the fullest extent 

  
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permitted by applicable law, the Collateral Agent shall be under no duty whatsoever to make or give any presentment, notice of dishonor, protest, demand for performance, notice of non-performance, notice of intent to accelerate, notice of acceleration, or other notice or demand in connection with any Collateral or the Obligations (except any notice or demand that is expressly required under
this Agreement or any other Guaranteed Document), or to take any steps necessary to preserve any rights against any Obligor or other Person or ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other
matters relative to any Collateral, whether or not it has or is deemed to have knowledge of such matters. Each Obligor, to the extent permitted by applicable law, waives any right of marshaling in respect of any and all Collateral, and waives any
right to require the Collateral Agent or any Guaranteed Creditor to proceed against any Obligor or other Person, exhaust any Collateral or enforce any other remedy which the Collateral Agent or any Guaranteed Creditor now has or may hereafter have
against any Obligor or other Person. 
 Section 7.03 Filing of Financing Statements. Pursuant to the UCC and any other
applicable law, each Obligor authorizes the Collateral Agent to file or record financing statements and other filing or recording documents or instruments with respect to the Collateral in such form and in such offices as the Required Lenders
reasonably determine appropriate to perfect the security interests of the Collateral Agent under this Agreement. A photographic or other reproduction of this Agreement shall be sufficient as a financing statement or other filing or recording
document or instrument for filing or recording in any jurisdiction. Notwithstanding the foregoing, each Obligor acknowledges its obligation to file or record financing statements hereunder. 

Section 7.04 Authority of Collateral Agent. Each Obligor acknowledges that the rights and responsibilities of the Collateral
Agent under this Agreement with respect to any action taken by the Collateral Agent or the exercise or non-exercise by the Collateral Agent of any option, voting right, request, judgment or other right or
remedy provided for herein or resulting or arising out of this Agreement shall, as between the Collateral Agent and the Guaranteed Creditors, be governed by the Credit Agreement (or the Pari Passu Intercreditor Agreement if then in effect) and by
such other agreements with respect thereto as may exist from time to time among them, but, as between the Collateral Agent and the Obligors, the Collateral Agent shall be conclusively presumed to be acting as agent for the Guaranteed Creditors with
full and valid authority so to act or refrain from acting, and no Obligor shall be under any obligation, or entitlement, to make any inquiry respecting such authority. 

Section 7.05 Collateral Agent’s Appointment as Agent.  

(a) The Collateral Agent has been appointed to act as Collateral Agent hereunder by the Guaranteed Creditors pursuant to the Credit Agreement
or the Pari Passu Intercreditor Agreement, as applicable. The Collateral Agent shall be obligated, and shall have the right hereunder, to make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from
taking any action (including the release or substitution of Collateral), solely in accordance with this Agreement and the other Guaranteed Documents; provided that the Collateral Agent shall exercise, or refrain from exercising, any remedies
provided for in Section 6.01 hereof in accordance with the terms of any applicable Intercreditor Agreement. 

  
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 (b) Subject to the terms and conditions of the Pari Passu Intercreditor Agreement if then in
effect, the Collateral Agent shall initially be the same Person that is the collateral agent under the Credit Agreement and shall have the same rights, privileges, indemnities, protections and immunities hereunder as are afforded the collateral
agent under the Credit Agreement, as if specifically set forth herein. Resignation and appointment of a successor Collateral Agent shall in each case occur as provided in the Pari Passu Intercreditor Agreement if then in effect and otherwise shall
occur as provided in the Credit Agreement. 
 ARTICLE VIII 

Subordination of Indebtedness 

Section 8.01 Subordination of All Obligor Claims. As used herein, the term “Obligor Claims” shall mean all debts
and obligations of any Borrower or any other Obligor to any Borrower or any Restricted Subsidiary of the Parent Borrower, whether such debts and obligations now exist or are hereafter incurred or arise, or whether the obligation of the debtor
thereon be direct, contingent, primary, secondary, several, joint and several, or otherwise, and irrespective of whether such debts or obligations be evidenced by note, contract, open account, or otherwise, and irrespective of the Person or Persons
in whose favor such debts or obligations may, at their inception, have been, or may hereafter be created, or the manner in which they have been or may hereafter be acquired by. After and during the continuation of an Event of Default, no Obligor
shall receive or collect, directly or indirectly, from any obligor in respect thereof any amount upon the Obligor Claims. 

Section 8.02 Claims in Bankruptcy. In the event of receivership, bankruptcy, reorganization, arrangement, debtor’s relief,
or other insolvency proceedings involving any Obligor, the Collateral Agent on behalf of the Collateral Agent and the Guaranteed Creditors shall have the right to prove their claim in any proceeding, so as to establish their rights hereunder and
receive directly from the receiver, trustee or other court custodian, dividends and payments which would otherwise be payable upon Obligor Claims. Each Obligor hereby assigns such dividends and payments to the Collateral Agent for the benefit of the
Collateral Agent and the Guaranteed Creditors for application against the Borrower Obligations as provided under Section 10.02(c) of the Credit Agreement (or the Pari Passu Intercreditor Agreement if then in effect). Should any Agent or
Guaranteed Creditor receive, for application upon the Obligations, any such dividend or payment which is otherwise payable to any Obligor, and which, as between such Obligors, shall constitute a credit upon the Obligor Claims, then upon payment in
full in cash of the Borrower Obligations and the termination of all of the Commitments, the intended recipient shall become subrogated to the rights of the Collateral Agent and the Guaranteed Creditors to the extent that such payments to the
Collateral Agent and the Guaranteed Creditors on the Obligor Claims have contributed toward the liquidation of the Obligations, and such subrogation shall be with respect to that proportion of the Obligations which would have been unpaid if the
Collateral Agent and the Guaranteed Creditors had not received dividends or payments upon the Obligor Claims. 
 Section 8.03
Payments Held in Trust. In the event that notwithstanding Section 8.01 and Section 8.02, any Obligor should receive any funds, payments, claims or distributions which is prohibited by such Sections, then it agrees: (a) to hold
in trust for the Collateral Agent and the Guaranteed Creditors an amount equal to the amount of all funds, 

  
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payments, claims or distributions so received, and (b) that it shall have absolutely no dominion over the amount of such funds, payments, claims or distributions except to pay them promptly
to the Collateral Agent, for the benefit of the Guaranteed Creditors; and each Obligor covenants promptly to pay the same to the Collateral Agent. 

Section 8.04 Liens Subordinate. Each Obligor agrees that, until the Borrower Obligations are paid in full in cash and the
termination of all of the Commitments, any Liens securing payment of the Obligor Claims shall be and remain inferior and subordinate to any Liens securing payment of the Obligations, regardless of whether such encumbrances in favor of such Obligor,
the Collateral Agent or any Guaranteed Creditor presently exist or are hereafter created or attach. Without the prior written consent of the Collateral Agent, no Obligor, during the period in which any of the Borrower Obligations are outstanding or
the Commitments are in effect, shall (a) exercise or enforce any creditor’s right it may have against any debtor in respect of the Obligor Claims, or (b) foreclose, repossess, sequester or otherwise take steps or institute any action
or proceeding (judicial or otherwise, including without limitation the commencement of or joinder in any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any Lien held by it. 

Section 8.05 Notation of Records. Upon the request of the Required Lenders, all promissory notes and all accounts receivable
ledgers or other evidence of the Obligor Claims accepted by or held by any Obligor shall contain a specific written notice thereon that the indebtedness evidenced thereby is subordinated under the terms of this Agreement. 

ARTICLE IX 

Miscellaneous 

Section 9.01 Waiver. No failure on the part of the Collateral Agent or any Guaranteed Creditor to exercise and no delay in
exercising, and no course of dealing with respect to, any right, power, privilege or remedy or any abandonment or discontinuance of steps to enforce such right, power, privilege or remedy under this Agreement or any other Guaranteed Document shall
operate as a waiver thereof, nor shall any single or partial exercise of any right, power, privilege or remedy under this Agreement or any other Guaranteed Document preclude or be construed as a waiver of any other or further exercise thereof or the
exercise of any other right, power, privilege or remedy. The remedies provided herein are cumulative and not exclusive of any remedies provided by law or equity. 

Section 9.02 Notices. All notices and other communications provided for herein shall be given in the manner and subject to the
terms of Section 12.01 of the Credit Agreement or the Pari Passu Intercreditor Agreement if then in effect; provided that any such notice, request or demand to or upon any Guarantor shall be addressed to such Guarantor at its notice address set
forth on Schedule 1. 
 Section 9.03 Payment of Expenses, Indemnities, Etc. 

(a) Each Guarantor, jointly and severally, agrees to pay or reimburse each Guaranteed Creditor for all out-of-pocket expenses incurred by such Person, including the fees, charges and disbursements of any counsel for the Collateral Agent or any Guaranteed Creditor,

  
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in connection with the enforcement or protection of its rights in connection with this Agreement or any other Guaranteed Document, including, without limitation, all costs and expenses incurred
in collecting against such Guarantor under the guarantee contained in ARTICLE II or otherwise enforcing or preserving any rights under this Agreement and the other Guaranteed Documents to which such Guarantor is a party. 

(b) Each Guarantor, jointly and severally, agrees to pay, and to save the Guaranteed Creditors harmless from, any and all liabilities with
respect to, or resulting from any delay in paying, any and all Other Taxes which may be payable or determined to be payable with respect to any of the Collateral or in connection with any of the transactions contemplated by this Agreement. 

(c) Each Guarantor, jointly and severally, agrees to pay, and to save the Guaranteed Creditors harmless from, any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever with respect to the execution, delivery, enforcement, performance and administration of this Agreement to the
extent any Borrower would be required to do so pursuant to Section 12.03 of the Credit Agreement or the applicable provisions of any Pari Passu Lien Documents then in effect. 

Section 9.04 Amendments in Writing. None of the terms or provisions of this Agreement may be waived, amended, supplemented or
otherwise modified except in accordance with Section 12.02 of the Credit Agreement and the Pari Passu Intercreditor Agreement if then in effect. 

Section 9.05 Successors and Assigns. The provisions of this Agreement shall be binding upon the Obligors and their successors and
assigns and shall inure to the benefit of the Collateral Agent and the Guaranteed Creditors and their respective successors and assigns; provided that except as set forth in Section 12.04(a) of the Credit Agreement and any Pari Passu Lien
Documents then in effect, no Obligor may assign, transfer or delegate any of its rights or obligations under this Agreement without the prior written consent of the Collateral Agent and the Guaranteed Creditors, and any such purported assignment,
transfer or delegation shall be null and void. 
 Section 9.06 Survival; Revival; Reinstatement. 

(a) All covenants, agreements, representations and warranties made by any Obligor herein and in the certificates or other instruments delivered
pursuant to this Agreement or any other Guaranteed Document to which it is a party shall be considered to have been relied upon by the Collateral Agent and the Lenders and shall survive the execution and delivery of this Agreement and the making of
any Loans, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Collateral Agent or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time
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 any Guaranteed Document is outstanding and unpaid and so long
as the Commitments have not expired or terminated. The provisions of Section 9.03 shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the resignation or removal of the
Collateral Agent, the repayment of the Loans, the termination of the Commitments or the termination of this Agreement, any other Guaranteed Document or any provision hereof or thereof. 

  
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 (b) To the extent that any payments on the Guarantor Obligations or proceeds of any
Collateral are subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, debtor in possession, receiver or other Person under any bankruptcy law, common law or equitable cause, then to such
extent, the Guarantor Obligations so satisfied shall be revived and continue as if such payment or proceeds had not been received and the Collateral Agent’s and the Guaranteed Creditors’ Liens, security interests, rights, powers and
remedies under this Agreement and each other Guaranteed Document shall continue in full force and effect. In such event, each Guaranteed Document shall be automatically reinstated and the Borrowers shall take such action as may be reasonably
requested by the Collateral Agent and the Guaranteed Creditors to effect such reinstatement. 
 Section 9.07 Counterparts;
Integration; Effectiveness. 
 (a) This Agreement may be executed in counterparts (and by different parties hereto on different
counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. The exchange of copies of this Agreement and of signature pages by facsimile or PDF transmission shall constitute
effective execution and delivery of this Agreement as to the parties hereto and may be used in lieu of the original Agreement and signature pages for all purposes. 

(b) THIS AGREEMENT AND THE OTHER GUARANTEED DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES HERETO AND THERETO AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 

(c) This Agreement shall become effective when it shall have been executed by the Collateral Agent and when the Collateral Agent shall have
received and duly delivered 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, the Lenders, the other
Guaranteed Creditors and their respective successors and assigns. Delivery of an executed counterpart of a signature page of this Agreement by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement. 

Section 9.08 Severability. Any provision of this Agreement or any other Guaranteed Document 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 or
thereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

  
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 Section 9.09 Set-Off. If an Event of
Default shall have occurred and be continuing, subject to the terms of any applicable Intercreditor Agreement, each Guaranteed Creditor and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent
permitted by law, to set-off and apply any obligations (of whatsoever kind) at any time owing by such Guaranteed Creditor or Affiliate to or for the credit or the account of any Obligor against any of and all
the obligations of such Obligor owed to such Guaranteed Creditor now or hereafter existing under this Agreement or any other Guaranteed Document, irrespective of whether or not such Guaranteed Creditor shall have made any demand under this Agreement
or any other Guaranteed Document and although such obligations may be unmatured; provided, however, that in no event shall the Collateral Agent or any Guaranteed Creditor be entitled to exercise any such right of
set-off in the Investment Accounts in connection with and as against the Indebtedness. The rights of each Guaranteed Creditor under this Section 9.09 are in addition to other rights and remedies
(including other rights of set-off) which such Guaranteed Creditor or its Affiliates may have. 

Section 9.10 Governing Law; Submission to Jurisdiction. 

(a) THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

(b) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT OR ANY ASSUMPTION AGREEMENT SHALL BE BROUGHT EXCLUSIVELY IN THE COURTS OF THE
STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH PARTY HEREBY ACCEPTS FOR ITSELF AND (TO THE EXTENT PERMITTED BY LAW) IN
RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS; PROVIDED THAT NOTHING IN THIS AGREEMENT SHALL BE DEEMED OR OPERATE TO PRECLUDE (I) ANY AGENT FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN
ANY OTHER JURISDICTION TO REALIZE ON THE COLLATERAL OR ANY OTHER SECURITY FOR THE OBLIGATIONS, OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF THE ADMINISTRATIVE AGENT OR THE COLLATERAL AGENT OR (II) ANY PARTY FROM BRINGING ANY LEGAL
ACTION OR PROCEEDING IN ANY JURISDICTION FOR THE RECOGNITION AND ENFORCEMENT OF ANY JUDGMENT. EACH PARTY HEREBY AGREES THAT A FINAL JUDGMENT IN ANY SUCH LEGAL 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. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING, WITHOUT LIMITATION, ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR
HEREAFTER HAVE TO THE BRINGING OF ANY SUCH ACTION OR PROCEEDING IN SUCH RESPECTIVE JURISDICTIONS. 

  
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 (c) EACH PARTY HEREBY (I) IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY LAW, TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER GUARANTEED DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN; (II) IRREVOCABLY WAIVES, TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT IT
MAY HAVE TO CLAIM OR RECOVER IN ANY SUCH LITIGATION ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES, OR DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL DAMAGES; (III) CERTIFIES THAT NO PARTY HERETO NOR ANY REPRESENTATIVE OR
ADMINISTRATIVE AGENT OR COUNSEL FOR ANY PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, OR IMPLIED THAT SUCH PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS, AND (IV) ACKNOWLEDGES THAT IT HAS BEEN
INDUCED TO ENTER INTO THIS AGREEMENT, THE GUARANTEED DOCUMENTS AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS CONTAINED IN THIS SECTION 9.10. 

Section 9.11 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 9.12 Acknowledgments. Each Obligor hereby acknowledges that: 

(a) neither the Collateral Agent nor any Guaranteed Creditor has any fiduciary relationship with or duty to any Obligor arising out of or in
connection with this Agreement or any of the other Guaranteed Documents, and the relationship between the Obligors, on the one hand, and the Collateral Agent and Guaranteed Creditors, on the other hand, in connection herewith or therewith is solely
that of debtor and creditor; and 
 (b) no joint venture is created hereby or by the other Guaranteed Documents or otherwise exists by virtue
of the transactions contemplated hereby among the Guaranteed Creditors or among the Obligors and the Guaranteed Creditors. 
 (c) Each of the
parties hereto specifically agrees that it has a duty to read this Agreement and the other Guaranteed Documents and agrees that it is charged with notice and knowledge of the terms of this Agreement and the other Guaranteed Documents; that it has in
fact read this Agreement and the other Guaranteed Documents and is fully informed and has full notice and knowledge of the terms, conditions and effects thereof; that it has been represented by independent legal counsel of its choice throughout the
negotiations preceding its execution of this Agreement and the other Guaranteed Documents and has received the advice of its attorney in the negotiation, execution and delivery of this Agreement and the Guaranteed Documents; and that it recognizes
that certain of the terms of this Agreement and the Guaranteed Documents result in one party assuming the liability inherent in some aspects of the transaction and relieving the other party of its responsibility for such liability. EACH PARTY
HERETO AGREES AND COVENANTS THAT IT WILL NOT CONTEST THE VALIDITY OR ENFORCEABILITY OF ANY EXCULPATORY PROVISION OF THIS AGREEMENT AND THE GUARANTEED DOCUMENTS ON THE BASIS THAT THE PARTY HAD NO NOTICE OR KNOWLEDGE OF SUCH PROVISION OR THAT
THE PROVISION IS NOT “CONSPICUOUS.” 

  
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 Section 9.13 Additional Obligors. Each Guarantor that is required to become a
party to this Agreement pursuant to Section 8.14 of the Credit Agreement or the applicable provisions of any Pari Passu Lien Documents then in effect and is not a signatory hereto shall become an Obligor for all purposes of this Agreement upon
execution and delivery by such Guarantor of an Assumption Agreement substantially in the form of Annex I hereto (each, an “Assumption Agreement”) and shall thereafter have the same rights, benefits and obligations as an Obligor
party hereto on the date hereof. 
 Section 9.14 Releases. 

(a) Release Upon Payment in Full. The grant of a security interest hereunder and all of rights, powers and remedies in connection
herewith shall remain in full force and effect until the Collateral Agent has (i) retransferred and delivered all Collateral in its possession to the Obligors, and (ii) executed a written release or termination statement and reassigned to
the Obligors without recourse or warranty any remaining Collateral and all rights conveyed hereby. At such time as the Borrower Obligations shall have been paid in full in cash and the Commitments have been terminated, the Collateral Agent, at the
written request and expense of the Borrowers, will promptly release, reassign and transfer the Collateral to the Obligors and declare this Agreement to be of no further force or effect, subject to the reinstatement provisions set forth herein. 

(b) Partial Releases. If any of the Collateral shall be sold, transferred or otherwise disposed of by any Obligor in a transaction
permitted by the Credit Agreement and any Pari Passu Lien Documents then in effect to a Person that is not, and is not required to be, an Obligor or if such Collateral becomes an Excluded Asset, then the Collateral Agent, at the request and sole
expense of such Obligor, shall promptly (but in any event within ten (10) Business Days of receipt by the Collateral Agent of a written notice from the Borrowers with respect to such disposition) execute and deliver to such Obligor all releases
or other documents reasonably necessary or desirable for the release of the Liens created hereby on such Collateral. At the request and sole expense of the Borrowers, a Guarantor shall be released from its obligations hereunder in the event that all
the Equity Interests of such Guarantor shall be sold, transferred or otherwise disposed of in a transaction permitted by the Credit Agreement and any Pari Passu Lien Documents then in effect to a Person that is not, and is not required to be, an
Obligor or if such Collateral becomes an Excluded Asset; provided that the Borrowers shall have delivered to the Collateral Agent, at least ten (10) Business Days prior to the date of the proposed release, a written request of a Responsible
Officer of the Borrowers for release identifying the relevant Guarantor and the terms of the sale or other disposition in reasonable detail, including the price thereof and any expenses in connection therewith, together with a certification by the
Borrowers stating that such transaction is in compliance with the Credit Agreement and the other Guaranteed Documents. 

  
 29 

 (c) Retention in Satisfaction. Except as may be expressly applicable pursuant to Section 9-620 of the UCC, no action taken or omission to act by the Collateral Agent or the Guaranteed Creditors hereunder, including, without limitation, any exercise of voting or consensual rights or any
other action taken or inaction, shall be deemed to constitute a retention of the Collateral in satisfaction of the Obligations or otherwise to be in full satisfaction of the Obligations, and the Obligations shall remain in full force and effect,
until the Collateral Agent and the Guaranteed Creditors shall have applied payments (including, without limitation, collections from Collateral) toward the Obligations in the full amount then outstanding. 

Section 9.15 Acceptance. Each Obligor hereby expressly waives notice of acceptance of this Agreement, acceptance on the part of
the Collateral Agent and the Guaranteed Creditors being conclusively presumed by their request for this Agreement and delivery of the same to the Collateral Agent. 

Section 9.16 Incorporation by Reference. The parties to this Agreement acknowledge that all of the rights, protections,
immunities and powers, including, without limitation, the right to indemnification applicable to Wilmington Trust, National Association as Administrative Agent and Collateral Agent under the Credit Agreement are hereby incorporated by reference and
shall be applicable to Wilmington Trust, National Association as Collateral Agent under this Agreement as if fully set forth herein. 

Section 9.17 Intercreditor Agreements. Notwithstanding anything herein to the contrary, the Collateral Agent acknowledges that
the Liens and security interest granted to the Collateral Agent pursuant to this Agreement and the exercise of any right or remedy by the Collateral Agent hereunder, is subject to the provisions of the Intercreditor Agreements, in each case to the
extent in effect. In the event of a conflict or any inconsistency between the terms of any Intercreditor Agreement and this Agreement, the terms of the applicable Intercreditor Agreement shall prevail to the extent then in effect. 

[Remainder of page intentionally left blank] 

  
 30 

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

							
	PARENT BORROWER:	  		  	HORNBECK OFFSHORE SERVICES, INC.
				
		  		  	By:	  	 /s/ James O. Harp, Jr.

		  		  	Name:	  	James O. Harp, Jr.
		  		  	Title:	  	Executive Vice President and Chief
		  		  		  	Financial Officer
			
	CO-BORROWER:	  		  	HORNBECK OFFSHORE SERVICES, LLC
				
		  		  	By:	  	 /s/ James O. Harp, Jr.

		  		  	Name:	  	James O. Harp, Jr.
		  		  	Title:	  	Executive Vice President and Chief
		  		  		  	Financial Officer

 [Signature Page – Second Lien Guaranty and Collateral Agreement] 

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

							
	GUARANTORS:	 		  	HORNBECK OFFSHORE TRANSPORTATION, LLC
			
		 		  	HOS-IV, LLC
			
		 		  	HORNBECK OFFSHORE TRINIDAD & TOBAGO, LLC
			
		 	                            	  	HORNBECK OFFSHORE OPERATORS, LLC
			
		 		  	ENERGY SERVICES PUERTO RICO, LLC
			
		 		  	HORNBECK OFFSHORE INTERNATIONAL, LLC
			
		 		  	HOS PORT, LLC
			
		 		  	HOI HOLDING, LLC
			
		 		  	HOS HOLDING, LLC
				
		 		  	By:	  	 /s/ James O. Harp, Jr.

		 		  	Name:	  	James O. Harp, Jr.
		 		  	Title:	  	Executive Vice President and Chief
		 		  		  	Financial Officer

 [Signature Page – Second Lien Guaranty and Collateral Agreement] 

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

							
	COLLATERAL AGENT:	 		  	WILMINGTON TRUST, NATIONAL ASSOCIATION
				
		 		  	By:	  	 /s/ Nicole Kroll

		 		  	Name:	  	Nicole Kroll
		 		  	Title:	  	Assistant Vice President

 [Signature Page – Second Lien Guaranty and Collateral Agreement] 

 Annex I 

Assumption Agreement 

ASSUMPTION AGREEMENT, dated as of [                ],
20[        ], made by [                ], a
[                ] (the “Additional Obligor”), in favor of Wilmington Trust, National Association, as collateral agent (in such capacity, the
“Collateral Agent”) for the financial institutions (the “Lenders”) that are or may become parties to the Credit Agreement referred to below. All capitalized terms not defined herein shall have the meaning ascribed
to them in such Credit Agreement. 
 W I T N E S E T H: 

WHEREAS, Hornbeck Offshore Services, Inc., a Delaware corporation (the “Parent Borrower”), Hornbeck Offshore Services,
LLC, a Delaware limited liability company (the “Co-Borrower” and, together with the Parent Borrower, collectively, the “Borrowers”), the Collateral Agent and the Lenders have
entered into a Second Lien Term Loan Agreement, dated as of February 7, 2019 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”); 

WHEREAS, in connection with the Credit Agreement, the Borrowers and certain of their Affiliates (other than the Additional Obligor) have
entered into the Second Lien Guaranty and Collateral Agreement, dated as of February 7, 2019 (as amended, supplemented or otherwise modified from time to time, the “Guaranty and Collateral Agreement”) in favor of the Collateral
Agent for the benefit of the Guaranteed Creditors; 
 WHEREAS, the Credit Agreement requires the Additional Obligor to become a party to the
Guaranty and Collateral Agreement; and 
 WHEREAS, the Additional Obligor has agreed to execute and deliver this Assumption Agreement in
order to become a party to the Guaranty and Collateral Agreement; 
 NOW, THEREFORE, IT IS AGREED: 

1. Guaranty and Collateral Agreement. By executing and delivering this Assumption Agreement, the Additional Obligor, as provided in
Section 9.13 of the Guaranty and Collateral Agreement, hereby becomes a party to the Guaranty and Collateral Agreement as an Obligor thereunder with the same force and effect as if originally named therein as an Obligor and, without limiting
the generality of the foregoing, hereby expressly assumes all obligations and liabilities of an Obligor thereunder (including the guarantee of the “Guarantor Obligations” as defined in the Guaranty and Collateral Agreement) and expressly
grants to the Collateral Agent for the ratable benefit of the Guaranteed Creditors, a security interest in all Collateral now owned or at any time hereafter acquired by such Additional Obligor as collateral security for the prompt and complete
payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the “Obligations” as defined in the Guaranty and Collateral Agreement. Each reference to an “Obligor” in the Guaranty and
Collateral Agreement shall be deemed to include the Additional Obligor. The information set forth in Annex 1-A hereto is hereby added to the information set forth in Schedules 1 through 5 to the Guaranty and
Collateral 

 
Agreement. The Additional Obligor hereby represents and warrants that, as they relate to the Additional Obligor, each of the representations and warranties contained in Article IV of the Guaranty
and Collateral Agreement is true and correct in all material respects (except that any such representations and warranties that are qualified by materiality shall be true and correct in all respects) on and as the date hereof (after giving effect to
this Assumption Agreement) as if made on and as of such date. 
 2. Governing Law. This Assumption Agreement shall be governed by, and
construed in accordance with, the laws of the State of New York. 
 3. Loan Document. This Assumption Agreement shall constitute a
Loan Document. 
 4. Binding Effect. Except as expressly supplemented hereby, the Guaranty and Collateral Agreement as in effect
immediately prior to the effectiveness of this Assumption Agreement shall remain in full force and effect. 
 IN WITNESS WHEREOF, the
undersigned has caused this Assumption Agreement to be duly executed and delivered as of the date first above written. 
  

			
	[ADDITIONAL OBLIGOR]
		
	By:	 	
                     
                

	Name:
	Title:

 Schedule 1 

NOTICE ADDRESSES OF OBLIGORS 
 All notices
and other communications to be delivered to any Borrower or to any other Obligor shall be delivered to them: 
 c/o Hornbeck Offshore
Services, Inc. 
 Attn: James O. Harp, Jr., Executive Vice President and Chief Financial Officer 

103 Northpark Boulevard, Suite 300 

Covington, Louisiana 70433 
 Fax:
(985) 727-2006 

  
 Schedule 1 - 1 

 Schedule 2 

FILINGS AND OTHER ACTIONS 

REQUIRED TO PERFECT SECURITY INTERESTS 

Filing of UCC-1 Financing Statements with respect to the Collateral with the Secretary of State of the State of
Delaware. 

  
 Schedule 2 - 1 

 Schedule 3 

LOCATION OF JURISDICTION OF ORGANIZATION 

AND CHIEF EXECUTIVE OFFICE 
  

			
	Borrowers	 	
		
	Legal name:	 	Hornbeck Offshore Services, Inc.
		
	Jurisdiction of organization:	 	Delaware
		
	Organization number:	 	2757751
		
	Taxpayer identification number:	 	72-1375844
		
	Chief Executive Office:	 	 103 Northpark Boulevard, Suite 300,
 Covington,
Louisiana 70433

		
	Legal name:	 	Hornbeck Offshore Services, LLC
		
	Jurisdiction of organization:	 	Delaware
		
	Organization number:	 	2603868
		
	Taxpayer identification number:	 	76-0497638
		
	Chief Executive Office:	 	 103 Northpark Boulevard, Suite 300,
 Covington,
Louisiana 70433

		
	Guarantors	 	
		
	Legal name:	 	HOS-IV, LLC
		
	Jurisdiction of organization:	 	Delaware
		
	Organization number:	 	3664519
		
	Taxpayer identification number:	 	72-1375844
		
	Chief Executive Office:	 	 103 Northpark Boulevard, Suite 300,
 Covington,
Louisiana 70433

		
	Legal name:	 	Hornbeck Offshore Trinidad & Tobago, LLC
		
	Jurisdiction of organization:	 	Delaware
		
	Organization number:	 	3756721
		
	Taxpayer identification number:	 	72-1375844
		
	Chief Executive Office:	 	 103 Northpark Boulevard, Suite 300,
 Covington,
Louisiana 70433

  
 Schedule 3 - 1 

			
	Legal name:	 	Hornbeck Offshore Operators, LLC
		
	Jurisdiction of organization:	 	Delaware
		
	Organization number:	 	2757747
		
	Taxpayer identification number:	 	72-1375845
		
	Chief Executive Office:	 	 103 Northpark Boulevard, Suite 300,
 Covington,
Louisiana 70433

		
	Legal name:	 	Hornbeck Offshore International, LLC
		
	Jurisdiction of organization:	 	Delaware
		
	Organization number:	 	3920301
		
	Taxpayer identification number:	 	46-4191332
		
	Chief Executive Office:	 	 103 Northpark Boulevard, Suite 300,
 Covington,
Louisiana 70433

		
	Legal name:	 	HOS Port, LLC
		
	Jurisdiction of organization:	 	Delaware
		
	Organization number:	 	4077391
		
	Taxpayer identification number:	 	72-1375844
		
	Chief Executive Office:	 	 103 Northpark Boulevard, Suite 300,
 Covington,
Louisiana 70433

		
	Legal name:	 	Energy Services Puerto Rico, LLC
		
	Jurisdiction of organization:	 	Delaware
		
	Organization number:	 	3469783
		
	Taxpayer identification number:	 	72-1437129
		
	Chief Executive Office:	 	 103 Northpark Boulevard, Suite 300,
 Covington,
Louisiana 70433

		
	Legal name:	 	Hornbeck Offshore Transportation, LLC
		
	Jurisdiction of organization:	 	Delaware
		
	Organization number:	 	3469782
		
	Taxpayer identification number:	 	72-1053262

  
 Schedule 3 - 2 

			
	Chief Executive Office:	 	 103 Northpark Boulevard, Suite 300,
 Covington,
Louisiana 70433

		
	Legal name:	 	HOI Holding, LLC
		
	Jurisdiction of organization:	 	Delaware
		
	Organization number:	 	6671625
		
	Taxpayer identification number:	 	83-1311429
		
	Chief Executive Office:	 	 103 Northpark Boulevard, Suite 300,
 Covington,
Louisiana 70433

		
	Legal name:	 	HOS Holding, LLC
		
	Jurisdiction of organization:	 	Delaware
		
	Organization number:	 	6671628
		
	Taxpayer identification number:	 	83-1317522
		
	Chief Executive Office:	 	 103 Northpark Boulevard, Suite 300,
 Covington,
Louisiana 70433

 Each Obligor hereby represents that it has not used a different name or trade name or changed its corporate structure (e.g. by
merger, consolidation, change in corporate form, change in jurisdiction of organization or otherwise) in the last five years. 
 Other than with respect to
the creation and continued funding of various newly formed subsidiaries, the Borrowers have not acquired the equity interests of another entity or substantially all the assets of another entity within the past five years. 

The current chief executive office or sole place of business of the Borrowers, as set forth herein, has been the location of its respective chief executive
office or sole place of business during the last five years. 

  
 Schedule 3 - 3 

 Schedule 4 

EFFECTIVE DATE DEPOSIT ACCOUNTS 
  

							
	 Holder/Pledgor
	 	 Institution
	 	 Account Number
	 	 Account Name

	 Hornbeck Offshore
 Services, LLC
	 	Capital One, National Association	 	812519034	 	 Hornbeck Offshore
 Services, LLC

				
	 Hornbeck Offshore
 Services, LLC
	 	Capital One, National Association	 	2082103956	 	 Hornbeck Offshore
 Services, LLC

				
	 Hornbeck Offshore
 Services, LLC
	 	Hancock Whitney Bank	 	0045971446	 	 Hornbeck Offshore
 Services, LLC

				
	 Hornbeck Offshore
 Services, LLC
	 	DNB Bank ASA	 	17744001	 	 Hornbeck Offshore
 Services, LLC

				
	 Hornbeck Offshore
 Operators, LLC
	 	Capital One, National Association	 	812519344	 	 Hornbeck Offshore
 Operators, LLC

				
	Hornbeck Offshore Services, LLC	 	JP Morgan Chase Bank, N.A.	 	3616776639	 	Hornbeck Offshore Services, LLC

  
 Schedule 4 - 1 

 Schedule 5 

PLEDGED COLLATERAL 
  

					
	 Issuer
	 	 Holder/Obligor
	 	 % of Outstanding

        Interest    
    

	Hornbeck Offshore Navegacao, Ltda.	 	 Hornbeck Offshore
 International, LLC
	 	65%
			
	HOI Holding, LLC	 	 Hornbeck Offshore
 International, LLC
	 	100%
			
	HOS Holding, LLC	 	Hornbeck Offshore Services, LLC	 	100%
			
	HOS de Mexico II, S. de R.L. de C.V.	 	HOI Holding, LLC	 	65%

  
 Schedule 5 - 1EX-10.3

 Exhibit 10.3 

INTERCREDITOR AGREEMENT 
 by and
among 
 WILMINGTON TRUST, NATIONAL ASSOCIATION 

as Initial First Lien Administrative Agent and as Initial First Lien Collateral Agent 

WILMINGTON TRUST, NATIONAL ASSOCIATION 

as Initial Second Lien Administrative Agent and as Initial Second Lien Collateral Agent 

EACH ADDITIONAL REPRESENTATIVE 
 as
defined herein, 
 HORNBECK OFFSHORE SERVICES, INC. 

as the Company 
 and 

THE VARIOUS ENTITIES NAMED IN THIS AGREEMENT 

as Grantors 
 Dated as of 

February 7, 2019 

 INTERCREDITOR AGREEMENT 

This INTERCREDITOR AGREEMENT is dated as of February 7, 2019, and entered into by and among HORNBECK OFFSHORE SERVICES, INC., a Delaware
corporation (the “Company”), HORNBECK OFFSHORE SERVICES, LLC, a Delaware limited liability company (the “Co-Borrower”), each other Grantor (as hereinafter defined), WILMINGTON TRUST
NATIONAL ASSOCIATION, as administrative agent under the Initial First Lien Term Loan Agreement (as hereinafter defined) (in such capacity, together with its successors and permitted assigns from time to time, the “Initial First Lien
Administrative Agent”) and as Authorized Collateral Agent (as hereinafter defined) for the Initial First Lien Secured Parties (as hereinafter defined) (in such capacity, together with its successors and permitted assigns from time to time,
the “Initial First Lien Collateral Agent”), WILMINGTON TRUST NATIONAL ASSOCIATION, as administrative agent under the Initial Second Lien Term Loan Agreement (in such capacity, together with its successors and permitted assigns from
time to time, the “Initial Second Lien Administrative Agent”) and as Authorized Collateral Agent for the Initial Second Lien Secured Parties (as hereinafter defined) (in such capacity, together with its successors and permitted
assigns from time to time, the “Initial Second Lien Collateral Agent”), and each other Additional Representative that from time to time becomes party hereto. 

In consideration of the mutual agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Initial First Lien Collateral Agent (for itself and on behalf of the Initial First Lien Secured Parties), the Initial First Lien Administrative Agent (for itself and on behalf of the Initial First Lien Secured Parties), the
Initial Second Lien Collateral Agent (for itself and on behalf of the Initial Second Lien Secured Parties), the Initial Second Lien Administrative Agent (for itself and on behalf of the Initial Second Lien Secured Parties), following the joinder to
this Agreement, each Additional First Lien Representative (for itself and on behalf of the Additional First Lien Secured Parties under the applicable Additional First Lien Indebtedness), following its joinder to this Agreement, each Additional
Second Lien Representative (for itself and on behalf of the Additional Second Lien Secured Parties under the applicable Additional Second Lien Indebtedness) and, following its joinder to this Agreement, each Third Lien Representative (for itself and
on behalf of the Third Lien Secured Parties under the applicable Third Lien Indebtedness) agree as follows: 
 ARTICLE I. 

DEFINED TERMS 

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

“Additional First Lien Agreement” means each indenture, credit facility or other agreement (other than the Initial First Lien
Term Loan Agreement), entered into in compliance with this Agreement, pursuant to which any one or more Grantors incurs Additional First Lien Indebtedness. 

 “Additional First Lien Financing Documents” means, collectively, with
respect to any Additional First Lien Obligations, each Additional First Lien Agreement and each guarantee, collateral agreement and any intercreditor or joinder agreement among any Additional First Lien Secured Parties with respect to such
Additional First Lien Obligations (or binding upon them through one or more of their representatives), to the extent such are effective at the relevant time, or other similar agreement entered into by any Grantor in connection with any Additional
First Lien Agreement. 
 “Additional First Lien Indebtedness” has the meaning assigned to that term in
Section 5.5(b). 
 “Additional First Lien Obligations” means the “Indebtedness”
(or the equivalent term) as defined in the applicable Additional First Lien Financing Documents and all other obligations of the Grantors from time to time arising under or in respect of the due and punctual payment of (a) the principal of and
premium, if any, and interest (including interest accruing during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such proceeding) on the Indebtedness for borrowed money outstanding under each
Additional First Lien Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (b) all other monetary obligations, including fees, costs, expenses and indemnities, whether
primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such proceeding), of the Grantors
under the Additional First Lien Financing Documents owing to the Additional First Lien Secured Parties (in their capacity as such). 

“Additional First Lien Representative” means the administrative agent, trustee or similar entity for the lenders or holders
of obligations, as applicable, under any Additional First Lien Agreement, together with its successors and permitted assigns. 

“Additional First Lien Secured Party” means at any relevant time, subject to Section 5.5, the First
Lien Collateral Agent, each Additional First Lien Representative and each holder of Additional First Lien Indebtedness. 

“Additional Representative” means any Additional First Lien Representative, any Additional Second Lien Representative or any
Third Lien Representative. 
 “Additional Second Lien Agreement” means each indenture, credit facility or other agreement
(other than the Initial Second Lien Term Loan Agreement), entered into in compliance with this Agreement, pursuant to which any one or more Grantors incurs Additional Second Lien Indebtedness. 

“Additional Second Lien Financing Documents” means, collectively, with respect to any Additional Second Lien Obligations,
each Additional Second Lien Agreement, each guarantee, collateral agreement and any intercreditor or joinder agreement among any Additional Second Lien Secured Parties with respect to such Additional Second Lien Obligations (or binding upon them
through one or more of their representatives), to the extent such are effective at the relevant time, or other similar agreement entered into by any Grantor in connection with any Additional Second Lien Agreement. 

  
 -2- 

 “Additional Second Lien Indebtedness” means Indebtedness that was incurred
in compliance with Section 5.7 that represents Second Lien Obligations. 
 “Additional Second Lien
Obligations” means the “Indebtedness” (or the equivalent term) as defined in the applicable Additional Second Lien Financing Documents and all other obligations of the Grantors from time to time arising under or in respect
of the due and punctual payment of (a) the principal of and premium, if any, and interest (including interest accruing during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such
proceeding) on the Indebtedness for borrowed money outstanding under each Additional Second Lien Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (b) all other
monetary obligations, including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any Insolvency or Liquidation Proceeding,
regardless of whether allowed or allowable in such proceeding), of the Grantors under the Additional Second Lien Financing Documents owing to the Additional Second Lien Secured Parties (in their capacity as such). 

“Additional Second Lien Representative” means the administrative agent, trustee or similar entity for the lenders or holders
of obligations, as applicable, under the Additional Second Lien Agreement, together with its successors and permitted assigns. 

“Additional Second Lien Secured Parties” means at any relevant time, subject to Section 5.7, the
Second Lien Collateral Agent, each Additional Second Lien Representative and each holder of Additional Second Lien Indebtedness. 

“Agreement” means this Intercreditor Agreement. 

“Authorized Collateral Agent” unless specified otherwise in the First Lien Financing Documents, the Second Lien Financing
Documents or the Third Lien Financing Documents, as applicable, means the Person or Persons authorized by the related Secured Parties to act on their behalf with respect to their Liens or the obligations owed to them under such Secured Parties’
respective agreements. 
 “Bankruptcy Code” means Title I of the Bankruptcy Reform Act of 1978, as amended and codified as
Title 11 of the United States Code. 
 “Bankruptcy Law” means the Bankruptcy Code and any similar federal, state or foreign
law for the relief of debtors, including the Mexican Ley de Concursos Mercantiles. 
 “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. 

“Collateral” means all of the assets and property of any Grantor, whether real, personal or mixed, that has been granted as
First Lien Collateral, Second Lien Collateral and Third Lien Collateral, including the U.S.-flag vessels and the Mexican-flag vessels listed on Schedules 1 and 2 hereto, respectively. 

  
 -3- 

 “Company” has the meaning assigned to that term in the recitals
hereto. 
 “Debt Representative” means the Initial First Lien Administrative Agent, the Initial Second Lien Administrative
Agent, each Additional First Lien Representative, each Additional Second Lien Representative and each Third Lien Representative. 

“DIP Financing” has the meaning assigned to that term in Section 6.1. 

“Discharge of First Lien Obligations” means, except to the extent otherwise provided in Section 5.5
hereof, (a) payment in full in cash of the principal of, interest (including interest accruing on or after the commencement of any Insolvency or Liquidation Proceeding at the rate set forth in the First Lien Financing Documents, whether or not
allowed or allowable in such proceeding) and premium (if any) on all First Lien Obligations outstanding under the First Lien Financing Documents, (b) payment in full in cash of all other First Lien Obligations that are due and payable or
otherwise accrued and owing at or prior to the time such principal and interest are paid or commitments referred to in the following clause (c) are terminated (other than any contingent obligations for which no demand or claim has been made),
and (c) termination of all other commitments of the First Lien Secured Parties to extend credit under the First Lien Financing Documents. 

“Discharge of Second Lien Obligations” means, except to the extent otherwise provided in
Section 5.7 hereof, (a) payment in full in cash of the principal of, interest (including interest accruing on or after the commencement of any Insolvency or Liquidation Proceeding at the rate set forth in the Second
Lien Financing Documents, whether or not allowed or allowable in such proceeding) and premium (if any) on all Second Lien Obligations outstanding under the Second Lien Financing Documents, (b) payment in full in cash of all other Second Lien
Obligations that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid (other than any contingent obligations for which no demand or claim has been made), and (c) termination of all
other commitments of the Second Lien Secured Parties to extend credit under the Second Lien Financing Documents. 
 “Discharge of
Third Lien Obligations” means, except to the extent otherwise provided in Section 5.8 hereof, (a) payment in full in cash of the principal of, interest (including interest accruing on or after the commencement
of any Insolvency or Liquidation Proceeding at the rate set forth in the Third Lien Financing Documents, whether or not allowed or allowable in such proceeding) and premium (if any) on all Third Lien Obligations outstanding under the Third Lien
Financing Documents, (b) payment in full in cash of all other Third Lien Obligations that are due and payable or otherwise accrued and owing at or prior to the time such principal and interest are paid (other than any contingent obligations for
which no demand or claim has been made), and (c) termination of all other commitments of the Third Lien Secured Parties to extend credit under the Third Lien Financing Documents. 

“Disposition” has the meaning assigned to that term in Section 5.1(b). 

“Enforcement Action” means an action under applicable law to: 

  
 -4- 

 (a) foreclose, execute, levy, or collect on, take possession or control of
(other for purposes of perfection), sell or otherwise realize upon (judicially or non-judicially), or lease, license, or otherwise dispose of (whether publicly or privately), Collateral, or otherwise exercise
or enforce remedial rights with respect to Collateral under the Financing Documents (including by way of set-off, recoupment, notification of a public or private sale or other disposition pursuant to the UCC
or other applicable law, notification to account debtors, notification to depositary banks under deposit account control agreements, or exercise of rights under landlord consents, if applicable), 

(b) solicit bids from third Persons to conduct the liquidation or disposition of Collateral or to engage or retain sales
brokers, marketing agents, investment bankers, accountants, appraisers, auctioneers, or other third Persons for the purposes of valuing, marketing, promoting and selling Collateral, 

(c) receive a transfer of Collateral in satisfaction of Indebtedness or any other obligation secured thereby, 

(d) otherwise enforce a security interest or exercise another right or remedy, as a secured creditor or otherwise, pertaining
to the Collateral at law, in equity, or pursuant to the Financing Documents (including the commencement of applicable legal proceedings or other actions with respect to Collateral to facilitate the actions described in the preceding clauses, and
exercising voting rights in respect of equity interests comprising Collateral), or 
 (e) effect the Disposition of
Collateral by any Grantor after the occurrence and during the continuation of a First Lien Debt Default under the First Lien Financing Documents with the consent of First Lien Collateral Agent, a Second Lien Debt Default under the Second Lien
Financing Documents with the consent of Second Lien Collateral Agent or a Third Lien Debt Default under the Third Lien Financing Documents with the consent of Third Lien Collateral Agent. 

“Financing Documents” means any of the First Lien Financing Documents, the Second Lien Financing Documents and/or the Third
Lien Financing Documents, as the context may require, including the vessel mortgages on U.S.-flag vessels that are Collateral described on Schedule 3 hereto and the vessel mortgages on Mexican-flag vessels that are Collateral described on Schedule 4
hereto. 
 “First Lien Collateral” means (i) the “Collateral”, as such term in the First Lien Term Loan
Agreement and/or, as applicable, the First Lien Financing Documents, and (ii) any other assets and property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted or purported to be granted as security for any
First Lien Obligations. 
 “First Lien Collateral Agent” means (i) in the case of any Initial First Lien Obligations
or the Initial First Lien Secured Parties, the Initial First Lien Collateral Agent and (ii) in the case of any Additional First Lien Obligations and the Additional First Lien Secured Parties in respect thereof, the Person serving as collateral
agent (or the equivalent) for such Additional First Lien Obligations and that is named as the First Lien Collateral Agent in respect of such Additional First Lien Obligations in the applicable First Lien Joinder, together with its successors and
assigns in such capacity. 

  
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 “First Lien Debt Default” means the occurrence of any of the following:

 (a) an “Event of Default” under and as defined in the Initial First Lien Term Loan Agreement; or 

(b) any event or condition which, under the terms of any Additional First Lien Agreement, causes, or permits holders of the
Additional First Lien Obligations with respect to such Additional First Lien Agreement to cause, such Additional First Lien Obligations to become immediately due and payable. 

“First Lien Financing Documents” means, collectively, the Initial First Lien Financing Documents and any Additional First
Lien Financing Documents. 
 “First Lien Joinder” means a joinder agreement substantially in the form of Exhibit B-1 hereto. 
 “First Lien Obligations” means (a) the Initial First Lien
Obligations and (b) the Additional First Lien Obligations. 
 “First Lien Secured Parties” means, at any relevant
time, (a) the Initial First Lien Collateral Agent, the Initial First Lien Administrative Agent, and the other Initial First Lien Secured Parties, (b) each Additional First Lien Representative and (c) each other holder of First Lien
Obligations at that time. 
 “First Lien Security Documents” means the “Security Instruments” (as defined in the
Initial First Lien Term Loan Agreement), each Grantor Joinder and any other agreement, document or instrument pursuant to which a Lien is granted securing the First Lien Obligations or under which rights or remedies with respect to such Liens are
governed. 
 “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. 
 “Grantor Joinder” means a joinder agreement substantially in the form of
Exhibit A hereto. 
 “Grantors” means the Company and each other Person that has or may from time to time hereafter
execute and deliver a First Lien Security Document, a Second Lien Security Document or a Third Lien Security Document, as a “Grantor” (or the equivalent thereof). 

“Indebtedness” means and includes all obligations that constitute “Debt” (or the equivalent term) within the
meaning of the First Lien Financing Documents, the Second Lien Financing Documents or the Third Lien Financing Documents, as applicable. 

  
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 “Initial First Lien Administrative Agent” has the meaning assigned to that
term in the preamble hereto; provided that following a Refinancing in respect of the Initial First Lien Term Loan Agreement made in accordance with Section 5.5, such term shall mean the applicable New First
Lien Agent. 
 “Initial First Lien Collateral Agent” has the meaning assigned to that term in the preamble hereto;
provided that following a Refinancing in respect of the Initial First Lien Term Loan Agreement made in accordance with Section 5.5, such term shall mean the applicable New First Lien Agent. 

“Initial First Lien Financing Documents” means the Initial First Lien Term Loan Agreement, together with each other
“Loan Document” as defined in the Initial First Lien Term Loan Agreement. 
 “Initial First Lien Lenders” means
the “Lenders” (as defined in the Initial First Term Loan Agreement) under the Initial First Lien Term Loan Agreement. 

“Initial First Lien Obligations” means the “Indebtedness” as defined in the Initial First Lien Financing
Documents and all other obligations of the Company and the Grantors from time to time arising under the Initial First Lien Financing Documents under or in respect of the due and punctual payment of (a) the principal of and premium if any, and
interest (including interest accruing during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such proceeding) under the Initial First Lien Term Loan Agreement, when and as due, whether at
maturity, by acceleration, upon repayment, prepayment or otherwise, and (b) all other monetary obligations, including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary
obligations incurred during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such proceeding), of the Company or any other Grantor under the Initial First Lien Term Loan Agreement owing to the
Initial First Lien Secured Parties (in their capacity as such). Following a Refinancing in respect of the Initial First Lien Term Loan Agreement made in accordance with Section 5.5, all obligations (including but not
limited to Refinancing Indebtedness) arising under or evidenced by the related Additional First Lien Financing Documents shall constitute “First Lien Obligations” for all purposes of this Agreement to the extent that such obligations would
have constituted Initial First Lien Obligations if incurred under the Initial First Lien Financing Documents. 
 “Initial First Lien
Secured Parties” means, collectively, the Initial First Lien Administrative Agent, the Initial First Lien Collateral Agent, the Initial First Lien Lenders and any other holder of “Indebtedness” as defined in the Initial First Lien
Term Loan Agreement from time to time. 
 “Initial First Lien Term Loan Agreement” means that certain First Lien Term Loan
Agreement, dated as of June 15, 2017, among the Company, the Co-Borrower, the Initial First Lien Lenders, the Initial First Lien Administrative Agent and the Initial First Lien Collateral Agent. 

  
 -7- 

 “Initial Second Lien Administrative Agent” has the meaning assigned to that
term in the preamble hereto; provided that following a Refinancing in respect of the Initial Second Lien Term Loan Agreement made in accordance with Section 5.7, such term shall mean the applicable New Second
Lien Agent. 
 “Initial Second Lien Collateral Agent” has the meaning assigned to that term in the preamble hereto;
provided that following a Refinancing in respect of the Initial Second Lien Term Loan Agreement made in accordance with Section 5.7, such term shall mean the applicable New Second Lien Agent. 

“Initial Second Lien Financing Documents” means the Initial Second Lien Term Loan Agreement, together with each other
“Loan Document” as defined in the Initial Second Lien Term Loan Agreement. 
 “Initial Second Lien Lender” means
the “Lenders” (as defined in the Initial Second Lien Term Loan Agreement) under the Initial Second Lien Term Loan Agreement. 

“Initial Second Lien Obligations” means the “Indebtedness” as defined in the Initial Second Lien Financing
Documents and all other obligations of the Company and the Grantors from time to time arising under the Initial Second Lien Financing Documents under or in respect of the due and punctual payment of (a) the principal of and premium if any, and
interest (including interest accruing during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such proceeding) under the Initial Second Lien Term Loan Agreement, when and as due, whether at
maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (b) all other monetary obligations, including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed or otherwise
(including monetary obligations incurred during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such proceeding), of the Company or any other Grantor under the Initial Second Lien Term Loan
Agreement owing to the Initial Second Lien Secured Parties (in their capacity as such). Following a Refinancing in respect of the Initial Second Lien Term Loan Agreement made in accordance with Section 5.7, all obligations
(including but not limited to Refinancing Indebtedness) arising under or evidenced by the related Additional Second Lien Financing Documents shall constitute “Second Lien Obligations” for all purposes of this Agreement to the extent that
such obligations would have constituted Initial Second Lien Obligations if incurred under the Initial Second Lien Financing Documents. 

“Initial Second Lien Secured Parties” means, collectively, the Initial Second Lien Administrative Agent, the Initial Second
Lien Collateral Agent, the Initial Second Lien Lenders and any other holder of “Indebtedness” as defined in the Initial Second Lien Term Loan Agreement from time to time. 

“Initial Second Lien Term Loan Agreement” means that certain Second Lien Term Loan Agreement, dated as of February 7,
2019, among the Company, the Co-Borrower, the Initial Second Lien Lenders, the Initial Second Lien Administrative Agent and the Initial Second Lien Collateral Agent. 

  
 -8- 

 “Insolvency or Liquidation Proceeding” means: 

(a) any voluntary or involuntary case or proceeding under the Bankruptcy Code or any Bankruptcy Law with respect to any
Grantor; 
 (b) any other voluntary or involuntary insolvency, reorganization, concurso mercantile, quiebra or
bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding with respect to any Grantor or with respect to a material portion of any Grantor’s assets; 

(c) any proceeding for the liquidation, dissolution, concurso mercantile, quiebra, reorganization or winding up
of any Grantor whether voluntary or involuntary and whether or not involving insolvency or bankruptcy; or 
 (d) any
assignment for the benefit of creditors or any other marshalling of assets and liabilities of any Grantor. 
 “Joinder”
means any First Lien Joinder, Second Lien Joinder or Third Lien Joinder, as the context may require. 
 “Lien” means, with
respect to any Property, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in respect of such Property, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or
other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or give a security interest in and any filing of or agreement to give any financing statement under the UCC other than a precautionary financing
statement respecting a lease not intended as a security agreement) or any assignment (or agreement to assign) any right to income or profits from any Property by way of security. 

“Mexico” shall mean the United Mexican States. 

“New Agent” means any New First Lien Agent, New Second Lien Agent or New Third Lien Agent, as the context may require. 

“New First Lien Agents” has the meaning assigned to that term in Section 5.5(f). 

“New First Lien Debt Notice” has the meaning assigned to that term in Section 5.5(f). 

“New Second Lien Agents” has the meaning assigned to that term in Section 5.7(c). 

“New Second Lien Debt Notice” has the meaning assigned to that term in Section 5.7(c). 

“New Third Lien Agents” has the meaning assigned to that term in Section 5.8(c). 

“New Third Lien Debt Notice” has the meaning assigned to that term in Section 5.8(c). 

“Obligations” means any of the First Lien Obligations, the Second Lien Obligations or the Third Lien Obligations. 

  
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 “Officers’ Certificate” means a certificate with respect to compliance
with a condition or covenant provided for in this Agreement, signed on behalf of the Company by an officer of the Company. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Pledged Collateral” has the meaning assigned to that term in
Section 5.4(a). 
 “Purchase Event” has the meaning assigned to that term in
Section 5.6(a). 
 “Purchase Price” has the meaning assigned to that term in
Section 5.6(b). 
 “Recovery” has the meaning assigned to that term in
Section 6.5. 
 “Refinance” means, in respect of any Indebtedness, to refinance, extend, renew,
defease, replace, refund or repay, or to issue other indebtedness (“Refinancing Indebtedness”), in exchange or replacement for, such Indebtedness in whole or in part. “Refinanced” and “Refinancing”
shall have correlative meanings. 
 “Refinance Agreement” means, in respect of any Refinancing Indebtedness, the definitive
credit or loan agreement, indenture, note or other instrument governing such Refinancing Indebtedness. 
 “Refinance
Documents” means, in respect of any Refinancing Indebtedness, the Refinance Agreement governing such Refinancing Indebtedness, together with all of the promissory notes evidencing the same, all guaranties thereof and all Refinance Security
Documents, and each of the other agreements, documents and instruments providing for or evidencing any other obligation in respect of such Refinancing Indebtedness, and any other document or instrument executed or delivered at any time in connection
with any Refinance Agreement, including any intercreditor or joinder agreement among holders of Refinancing Indebtedness. 

“Refinance Security Documents” means, in respect of any Refinancing Indebtedness, the “Security Instruments”
(or equivalent term) as defined in the applicable Refinance Agreement, and any other agreement, document or instrument pursuant to which a Lien is granted securing the obligations of the Grantors in respect of such Refinancing Indebtedness or under
which rights or remedies with respect to such Liens are governed. 
 “Refinancing Indebtedness” has the meaning assigned to
that term in the defined term “Refinance.” 
 “Second Lien Collateral” means any assets and property of
any Grantor, whether real, personal or mixed, with respect to which a Lien is granted or purported to be granted as security for any Second Lien Obligations. 

  
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 “Second Lien Collateral Agent” means the Initial Second Lien Collateral
Agent and any other Person designated by the holders of Second Lien Obligations or the Second Lien Representatives to serve as the collateral agent for all Second Lien Obligations. 

“Second Lien Debt Default” means the occurrence of any of the following: 

(a) an “Event of Default” under and as defined in the Initial Second Lien Term Loan Agreement; or 

(b) any event or condition which, under the terms of any Additional Second Lien Agreement, causes, or permits holders of the
Additional Second Lien Obligations with respect to such Additional Second Lien Agreement to cause, such Additional Second Lien Obligations to become immediately due and payable. 

“Second Lien Financing Documents” means, collectively, the Initial Second Lien Financing Documents and the Additional Second
Lien Financing Documents. 
 “Second Lien Joinder” means a joinder agreement substantially in the form of Exhibit B-2 hereto. 
 “Second Lien Obligations” means (a) the Initial Second Lien
Obligations and (b) subject to Section 5.7, the Additional Second Lien Obligations. 
 “Second Lien
Representatives” means, at any relevant time, (a) the Initial Second Lien Administrative Agent and (b) the Additional Second Lien Representative. 

“Second Lien Secured Parties” means, at any relevant time, (a) the Initial Second Lien Secured Parties and (b) the
Additional Second Lien Secured Parties. 
 “Second Lien Security Documents” means the Security Instruments (as defined in
the Initial Second Lien Term Loan Agreement), each Grantor Joinder and any other agreement, document or instrument pursuant to which a Lien is granted securing the Second Lien Obligations or under which rights or remedies with respect to such Liens
are governed. 
 “Secured Party” means any of the First Lien Secured Parties, the Second Lien Secured Parties or the Third
Lien Secured Parties, as the context requires. 
 “Third Lien Agreement” means each indenture, credit facility or other
agreement, entered into in compliance with this Agreement, pursuant to which any one or more Grantors incurs Third Lien Indebtedness. 

“Third Lien Collateral” means any assets and property of any Grantor, whether real, personal or mixed, with respect to which
a Lien is granted or purported to be granted as security for any Third Lien Obligations. 
 “Third Lien Collateral Agent”
means the Person serving as collateral agent (or the equivalent) for such Third Lien Obligations and that is named as the Third Lien Collateral Agent in respect of such Third Lien Obligations in the applicable Third Lien Joinder. 

  
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 “Third Lien Debt Default” means an “Event of Default” under and
as defined in the Third Lien Term Loan Agreement. 
 “Third Lien Financing Documents” means each Third Lien Agreement and
each guarantee, collateral agreement and any intercreditor or joinder agreement among any Third Lien Secured Parties with respect to such Third Lien Obligations (or binding upon them through one or more of their representatives), to the extent such
are effective at the relevant time, or other similar agreement entered into by any Grantor in connection with any Third Lien Agreement, as each may be amended, restated, supplemented, modified, renewed, Refinanced or extended from time to time in
accordance with this provisions of this Agreement. 
 “Third Lien Indebtedness” means Indebtedness that was incurred in
compliance with Section 5.8 that represents Third Lien Obligations. 
 “Third Lien Joinder” means
a joinder agreement substantially in the form of Exhibit B-3 hereto. 
 “Third Lien
Obligations” means all obligations of the Grantors from time to time arising under the Third Lien Financing Documents under or in respect of the due and punctual payment of (a) the principal of and premium, if any, and interest
(including interest accruing during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such proceeding) on the Indebtedness for borrowed money outstanding under each Third Lien Agreement, when and
as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (b) all other monetary obligations, including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed
or otherwise (including monetary obligations incurred during the pendency of any Insolvency or Liquidation Proceeding, regardless of whether allowed or allowable in such proceeding), of the Grantors under the Third Lien Financing Documents owing to
the Third Lien Secured Parties (in their capacity as such). 
 “Third Lien Representative” means the administrative agent,
trustee or similar entity for the lenders or holders of obligations, as applicable, under any Third Lien Agreement, together with its successors and permitted assigns. 

“Third Lien Secured Party” means at any relevant time, subject to Section 5.8, each Third Lien
Representative and each holder of Third Lien Indebtedness. 
 “Third Lien Security Documents” means any other agreement,
document or instrument pursuant to which a Lien is granted securing the Third Lien Obligations or under which rights or remedies with respect to such Liens are governed, as each may be amended, restated, supplemented, Refinanced or otherwise
modified from time to time. 
 “UCC” means the Uniform Commercial Code (or any similar or equivalent legislation) as in
effect in any applicable jurisdiction. 
 Section 1.2 Terms Generally. The definitions of terms in this Agreement 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 

  
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“include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The word
“will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise: (a) any definition of or reference to any agreement, instrument or other document herein
shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, supplemented, Refinanced or otherwise modified from time to time; (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 Sections shall be construed to refer to Sections of this Agreement; (e) any reference to any law or regulation herein shall refer to such law or regulation
as amended, modified or supplemented from time to time and (f) 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. 
 Section 1.3 Interpretive Effect of Refinancing.
(a) Following a Refinancing of First Lien Obligations made in accordance with the terms of this Agreement (including Sections 5.3 and 5.5), each reference to a First Lien Loan Agreement hereunder shall be deemed for all purposes
to be a reference to the associated Refinance Agreement, each reference to the First Lien Financing Documents hereunder shall be deemed for all purposes to be a reference to the associated Refinance Documents, each reference to First Lien
Obligations shall be deemed for all purposes to be a reference to the associated Refinancing Indebtedness, and each reference to First Lien Security Documents shall be deemed for all purposes to be a reference to the Refinancing Security Documents.

 (b) Following a Refinancing of Second Lien Obligations made in accordance with the terms of this Agreement (including Sections 5.3
and 5.7), each reference to a Second Lien Loan Agreement hereunder shall be deemed for all purposes to be a reference to the associated Refinance Agreement, each reference to the Second Lien Financing Documents hereunder shall be deemed for
all purposes to be a reference to the associated Refinance Documents, each reference to Second Lien Obligations shall be deemed for all purposes to be a reference to the associated Refinancing Indebtedness, and each reference to Second Lien Security
Documents shall be deemed for all purposes to be a reference to the Refinancing Security Documents. 
 (c) Following a Refinancing of Third
Lien Obligations made in accordance with the terms of this Agreement (including Sections 5.3 and 5.8), each reference to a Third Lien Loan Agreement hereunder shall be deemed for all purposes to be a reference to the associated
Refinance Agreement, each reference to the Third Lien Financing Documents hereunder shall be deemed for all purposes to be a reference to the associated Refinance Documents, each reference to Third Lien Obligations shall be deemed for all purposes
to be a reference to the associated Refinancing Indebtedness, and each reference to Third Lien Security Documents shall be deemed for all purposes to be a reference to the Refinancing Security Documents. 

  
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 ARTICLE II. 

LIEN PRIORITIES 
 Section
2.1 Relative Priorities. (a) Notwithstanding the date, time, method, manner or order of grant, attachment or perfection of any Liens securing any of the Obligations granted on the Collateral, and notwithstanding any provision of the UCC
or any other applicable law or of the Financing Documents, or any defect or deficiencies in, or failure to perfect, the Liens securing any of the Obligations or any other circumstance whatsoever, the Second Lien Collateral Agent, on behalf of itself
and the Second Lien Secured Parties, and the Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, hereby agree that: 

(i) any Lien on the Collateral securing any First Lien Obligations now or hereafter held by or on behalf of the First Lien
Collateral Agent, any Additional First Lien Representative or any First Lien Secured Parties or any agent or trustee therefor, regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be
senior in all respects and prior to any Lien on the Collateral securing any Second Lien Obligations and any Third Lien Obligations; 

(ii) any Lien on the Collateral securing (A) any Second Lien Obligations now or hereafter held by or on behalf of the
Second Lien Collateral Agent, any Additional Second Lien Representative or any Second Lien Secured Parties, or (B) any Third Lien Obligations now or hereafter held by or on behalf of the Third Lien Collateral Agent, any Third Lien
Representative or any Third Lien Secured Parties, or any agent or trustee for any of the foregoing, regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be junior and subordinate in all
respects to all Liens on the Collateral securing any First Lien Obligations; and 
 (iii) all Liens on the Collateral
securing any First Lien Obligations shall be and remain senior in all respects and prior to all Liens on the Collateral securing any Second Lien Obligations and Third Lien Obligations for all purposes, whether or not such Liens securing any First
Lien Obligations are subordinated to any Lien securing any other obligation of any Grantor or any other Person. 
 (b)
Notwithstanding the date, time, method, manner or order of grant, attachment or perfection of any Liens securing the Second Lien Obligations granted on the Collateral, and notwithstanding any provision of the UCC or any other applicable law or of
the Second Lien Financing Documents or the Third Lien Financing Documents, or any defect or deficiencies in, or failure to perfect, the Liens securing the Second Lien Obligations or any other circumstance whatsoever, the Third Lien Collateral Agent,
on behalf of itself and the Third Lien Secured Parties, hereby agrees that: 
 (i) any Lien on the Collateral securing any
Second Lien Obligations now or hereafter held by or on behalf of the Second Lien Collateral Agent, any 

  
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Additional Second Lien Representative, any Second Lien Secured Parties or any agent or trustee therefor, regardless of how acquired, whether by grant, possession, statute, operation of law,
subrogation or otherwise, shall be senior in all respects and prior to any Lien on the Collateral securing any Third Lien Obligations; 

(ii) any Lien on the Collateral securing any Third Lien Obligations now or hereafter held by or on behalf of the Third Lien
Collateral Agent, any Third Lien Representative or any Third Lien Secured Parties or any agent or trustee therefor regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or otherwise, shall be junior and
subordinate in all respects to all Liens on the Collateral securing any Second Lien Obligations; and 
 (iii) all Liens on
the Collateral securing any Second Lien Obligations shall be and remain senior in all respects and prior to all Liens on the Collateral securing any Third Lien Obligations for all purposes, whether or not such Liens securing any Second Lien
Obligations are subordinated to any Lien securing any other obligation of any Grantor or any other Person. 
 Section 2.2 Prohibition on
Contesting Liens. Each of the Initial First Lien Collateral Agent, for itself and on behalf of each Initial First Lien Secured Party, the Initial Second Lien Collateral Agent, for itself and on behalf of each Initial Second Lien Secured Party,
and each Authorized Collateral Agent that becomes a party hereto after the date hereof (including any Third Lien Collateral Agent), on behalf of itself and on behalf of the applicable Secured Parties, agrees that it will not (and hereby waives any
right to) contest or support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the perfection, priority, attachment, validity or enforceability of (a) the First Lien Obligations or any Lien
held by or on behalf of any of the First Lien Secured Parties in the Collateral, (b) the Second Lien Obligations or any Lien held by or on behalf of any of the Second Lien Secured Parties in the Collateral or (c) the Third Lien Obligations
or any Lien held by or on behalf of any of the Third Lien Secured Parties in the Collateral; provided that, nothing in this Agreement shall be construed to prevent or impair the rights of any First Lien Secured Party, any Second Lien Secured
Party or any Third Lien Secured Party to enforce this Agreement, including the provisions of this Agreement relating to the priority of the Liens as provided in Sections 2.1 and 3.1. 

Section 2.3 No New Liens. Following the date hereof and whether or not any Insolvency or Liquidation Proceeding has been commenced by
or against any of the Grantors, the parties hereto agree that the Grantors shall not, and shall not permit any other Grantor to: 
 (a)
grant or permit any additional Liens on any asset or property to secure any Second Lien Obligation unless it has granted or concurrently grants Liens on such asset or property to secure each series of First Lien Obligations (equally and ratably
among such First Lien Obligations) which shall each be senior to the Lien securing the Second Lien Obligations as provided in this Agreement; 

  
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 (b) grant or permit any additional Liens on any asset or property to secure any Third Lien
Obligation unless it has granted or concurrently grants Liens on such asset or property to secure each series of First Lien Obligations (equally and ratably among such First Lien Obligations) and each series of Second Lien Obligations (equally and
ratably among such Second Lien Obligations) which shall each be senior to the Lien securing the Third Lien Obligations as provided in this Agreement; 

(c) grant or permit any additional Liens on any asset or property to secure any First Lien Obligation unless it has granted or concurrently
grants a Lien on such asset or property to secure each series of Second Lien Obligations (equally and ratably among such Second Lien Obligations) and each series of Third Lien Obligations (equally and ratably among such Third Lien Obligations), each
of which shall be junior to the Lien securing the First Lien Obligations as provided in this Agreement; or 
 (d) (i) grant or permit any
additional Liens on any asset or property to secure any First Lien Obligation unless it has granted or concurrently grants an equal and ratable Lien on such asset or property to secure all other First Lien Obligations, (ii) grant or permit any
additional Liens on any asset or property to secure any Second Lien Obligation unless it has granted or concurrently grants an equal and ratable Lien on such asset or property to secure all other Second Lien Obligations or (iii) grant or permit
any additional Liens on any asset or property to secure any Third Lien Obligation unless it has granted or concurrently grants an equal and ratable Lien on such asset or property to secure all other Third Lien Obligations. 

To the extent that the foregoing provisions are not complied with for any reason, without limiting any other rights and remedies available to the First Lien
Collateral Agent and/or the other First Lien Secured Parties, the Second Lien Collateral Agent and/or the other Second Lien Secured Parties and/or the Third Lien Collateral Agent and/or the other Third Lien Secured Parties, agrees that any amounts
received by or distributed to any of them pursuant to or as a result of Liens granted in contravention of this Section 2.3 shall be subject to Section 4.2. 

Section 2.4 Similar Liens. It is the intention of the Company and the other Grantors, and the parties hereto acknowledge and agree
that the First Lien Collateral, the Second Lien Collateral and the Third Lien Collateral be substantially identical. In furtherance of the foregoing and of Section 8.10, the parties hereto agree, subject to the other
provisions of this Agreement, (a) upon reasonable request by the First Lien Collateral Agent, the Second Lien Collateral Agent or the Third Lien Collateral Agent, to cooperate in good faith (and to direct their respective counsel to cooperate
in good faith) from time to time in order to determine the specific items included in the First Lien Collateral, the Second Lien Collateral and the Third Lien Collateral Agent, and the steps taken to perfect their respective Liens thereon and the
identity of the respective parties obligated under each series of Financing Documents and (b) that the documents and agreements creating or evidencing the First Lien Collateral, the Second Lien Collateral and Third Lien Collateral and
guarantees for the First Lien Obligations, the Second Lien Obligations and Third Lien Obligations, shall be in all material respects the same forms of documents other than with respect to the first lien, the second lien and third lien nature of the
Obligations thereunder. 

  
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 ARTICLE III. 

ENFORCEMENT 

Section 3.1 Exercise of Remedies. (a) Until the Discharge of First Lien Obligations has occurred, whether or not any
Insolvency or Liquidation Proceeding has been commenced by or against any of the Grantors, the Second Lien Secured Parties and the Third Lien Secured Parties: 

(i) will not institute or seek to institute any Enforcement Action; 

(ii) will not contest, protest, hinder, delay or object to any foreclosure proceeding or action brought by any First Lien
Secured Party or any other exercise by any First Lien Secured Party of any rights and remedies relating to the Collateral under the First Lien Financing Documents or otherwise; and 

(iii) except as may be permitted in Section 3.1(e), will not object to the forbearance by the First
Lien Secured Parties from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights or remedies relating to the Collateral; 

provided that, in the case of (i), (ii) and (iii) of this Section 3.1(a), the Liens granted to
secure the Second Lien Obligations and the Third Lien Obligations shall attach to any proceeds resulting from actions taken by the First Lien Collateral Agent or any other Secured Party in accordance with this Agreement to the extent such proceeds
were not applied to the First Lien Obligations, subject to the relative priorities described in Section 2. 
 (b)
Until the Discharge of First Lien Obligations has occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against any Grantor, the First Lien Secured Parties shall have the exclusive right to enforce rights,
exercise remedies (including setoff and the right to credit bid their debt, except the Second Lien Secured Parties and Third Lien Secured Parties shall have the credit bid rights set forth in Section 3.1(e)(v)) and, subject to Section 5.1,
make determinations regarding the exercise of remedies or with respect to the Collateral without any consultation with or the consent of any Second Lien Secured Party or any Third Lien Secured Party; provided that, subject to
Section 5.1, the Lien securing the Second Lien Obligations and the Third Lien Obligations shall remain on the proceeds of such Collateral disposed of in connection with such exercise of remedies subject to the relative
priorities described in Section 2 and only to the extent such proceeds were not applied to the First Lien Obligations and the proceeds in excess of those necessary to achieve a Discharge of First Lien Obligations are
distributed in accordance with Section 4.1. In exercising rights and remedies with respect to the Collateral, the First Lien Collateral Agent and the other First Lien Secured Parties may enforce the provisions of the First Lien Financing
Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion in compliance with any applicable law. Such exercise and enforcement shall include the right to an agent
appointed by the First Lien Collateral Agent or any other First Lien Secured Party to sell or otherwise dispose of Collateral upon foreclosure, to incur expenses in connection with such sale or Disposition, and to exercise all the rights and
remedies of a secured creditor under the UCC or other applicable law and of a secured creditor under Bankruptcy Laws of any applicable jurisdiction. 

  
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 (c) After the Discharge of First Lien Obligations and until the Discharge of Second Lien
Obligations has occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against any of the Grantors, the Third Lien Secured Parties: 

(i) will not institute or seek to institute any Enforcement Action; 

(ii) will not contest, protest, hinder, delay or object to any foreclosure proceeding or action brought by any Second Lien
Secured Party or any other exercise by any Second Lien Secured Party of any rights and remedies relating to the Collateral under the Second Lien Financing Documents or otherwise; and 

(iii) except as may be permitted in Section 3.1(e), will not object to the forbearance by the Second
Lien Secured Parties from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights or remedies relating to the Collateral; 

provided that, in the case of (i), (ii) and (iii) of this Section 3.1(c), the Liens granted to
secure the Third Lien Obligations shall attach to any proceeds resulting from actions taken by the Second Lien Collateral Agent or any other Secured Party in accordance with this Agreement to the extent such proceeds were not applied to the Second
Lien Obligations. 
 (d) After the Discharge of First Lien Obligations and until the Discharge of Second Lien Obligations has occurred,
whether or not any Insolvency or Liquidation Proceeding has been commenced by or against any Grantor, the Second Lien Secured Parties shall have the exclusive right to enforce rights, exercise remedies (including setoff and the right to credit bid
their debt) and make determinations regarding the exercise of remedies or with respect to the Collateral without any consultation with or the consent of any Third Lien Secured Party; provided that, subject to
Section 5.1, the Lien securing the Third Lien Obligations shall remain on the proceeds of such Collateral disposed of in connection with such exercise of remedies subject to the relative priorities described in
Section 2 and only to the extent such proceeds were not applied to the Second Lien Obligations. In exercising rights and remedies with respect to the Collateral, the Second Lien Collateral Agent and the other Second Lien
Secured Parties may enforce the provisions of the Second Lien Financing Documents and exercise remedies thereunder, all in such order and in such manner as they may determine in the exercise of their sole discretion. Such exercise and enforcement
shall include the right to an agent appointed by the Second Lien Collateral Agent or any other Second Lien Secured Party to sell or otherwise dispose of Collateral upon foreclosure, to incur expenses in connection with such sale or Disposition, and
to exercise all the rights and remedies of a secured creditor under the UCC or other applicable law and of a secured creditor under Bankruptcy Laws of any applicable jurisdiction. 

(e) Notwithstanding anything to the contrary in this Agreement, the Second Lien Collateral Agent, any other Second Lien Secured Party, the
Third Lien Collateral Agent, or any other Third Lien Secured Party may: 

  
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 (i) file a claim or statement of interest with respect to the Second Lien
Obligations or the Third Lien Obligations, as applicable; provided that an Insolvency or Liquidation Proceeding has been commenced by or against any Grantor; 

(ii) take any action (not adverse to the priority status of the Liens on the Collateral securing the First Lien Obligations, or
the rights of any of the First Lien Secured Parties to exercise remedies in respect thereof, or with respect to the Third Lien Secured Parties, not adverse to the priority status of the Liens on the Collateral securing either the First Lien
Obligations or the Second Lien Obligations, or the rights of any of the First Lien Secured Parties or Second Lien Secured Parties to exercise remedies in respect thereof) in order to create, perfect, preserve or protect its Lien on the Collateral;

 (iii) file any necessary responsive or defensive pleadings in opposition to any motion, claim, adversary proceeding or
other pleading made by any Person objecting to or otherwise seeking the disallowance of the claims of the Second Lien Secured Parties or the Third Lien Secured Parties, as applicable, including any claims secured by the Collateral, if any, or
otherwise make any agreements or file any motions or objections pertaining to the claims of the Second Lien Secured Parties or the Third Lien Secured Parties, as applicable, in each case in accordance with and not inconsistent with the terms of this
Agreement; 
 (iv) vote on any plan of reorganization, arrangement, compromise or liquidation, file any proof of claim, make
other filings and make any arguments and motions that are, in each case, in accordance with and not inconsistent with the terms of this Agreement, with respect to the Second Lien Obligations or the Third Lien Obligations, as applicable, and the
Collateral; and 
 (v) with respect to the Second Lien Secured Parties, bid for or purchase Collateral at any public, private
or judicial foreclosure upon such Collateral initiated by any First Lien Secured Party (or, with respect to the Third Lien Secured Parties, after the Discharge of First Lien Obligations, initiated by any Second Lien Secured Party), or any sale of
Collateral during an Insolvency or Liquidation Proceeding; provided that such bid may not include a “credit bid” in respect of any Second Lien Obligations unless the cash proceeds of such bid are otherwise sufficient to cause the Discharge
of First Lien Obligations upon consummation thereof (or, with respect to the Third Lien Secured Parties, such bid may not include a “credit bid” in respect of any Third Lien Obligations unless the cash proceeds of such bid are otherwise
sufficient to cause the Discharge of the First Lien Obligations and the Second Lien Obligations or, after Discharge of the First Lien Obligations, such bid may not include a “credit bid” in respect of any Third Lien Obligations unless the
cash proceeds of such bid are otherwise sufficient to cause a Discharge of the Second Lien Obligations). 
 Subject to Sections
3.1(a), 3.1(c), 3.1(e) and 6.3(b), each of the Second Lien Collateral Agent, on behalf of itself and the Second Lien Secured Parties, and the Third Lien Collateral 

  
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Agent, on behalf of itself and the Third Lien Secured Parties, agrees that it will not take or receive any Collateral or any proceeds of Collateral in connection with the exercise of any
Enforcement Action in its capacity as a creditor until the Discharge of First Lien Obligations and, with respect to any of the Third Lien Secured Parties, until the Discharge of Second Lien Obligations, shall have occurred. Without limiting the
generality of the foregoing, unless and until the Discharge of First Lien Obligations has occurred, and, with respect to any of the Third Lien Secured Parties, until the Discharge of Second Lien Obligations, except as expressly provided in
Section 3.1(a), Section 3.1(c), this Section 3.1(e) and Section 6.3(b), the sole right of the Second Lien Secured Parties and the Third Lien
Secured Parties with respect to the Collateral is to hold a Lien on the Collateral pursuant to the Second Lien Financing Documents and the Third Lien Financing Documents for the period and to the extent granted therein and to receive a share of the
proceeds thereof, if any, in accordance with Section 4.1 after the Discharge of First Lien Obligations has occurred (or, with respect to the Third Lien Secured Parties, after the Discharge of Second Lien Obligations). 

(f) Subject to Sections 3.1(a), 3.1(c), 3.1(e) and 6.3(b): 

(i) the Second Lien Collateral Agent, for itself and on behalf of the Second Lien Secured Parties, agrees that the Second Lien
Secured Parties will not take any action with respect to the Collateral that would hinder any exercise of remedies under the First Lien Financing Documents or is otherwise prohibited hereunder, including any sale, lease, exchange, transfer or other
Disposition of the Collateral, whether by foreclosure or otherwise; 
 (ii) the Second Lien Collateral Agent, for itself and
on behalf of the Second Lien Secured Parties, hereby waives any and all rights it or the Second Lien Secured Parties may have as junior lien creditors or otherwise to object to the manner in which the First Lien Collateral Agent or any other First
Lien Secured Party seeks to enforce or collect the First Lien Obligations or the Liens securing the First Lien Obligations granted in any of the First Lien Collateral undertaken in accordance with this Agreement, regardless of whether any action or
failure to act by or on behalf of the First Lien Collateral Agent or the First Lien Secured Parties is adverse to the interest of the Second Lien Secured Parties; 

(iii) the Second Lien Collateral Agent hereby acknowledges and agrees that no covenant, agreement or restriction contained in
the Second Lien Financing Documents (other than this Agreement) shall be effective to restrict or be deemed to restrict in any way the rights and remedies of the First Lien Secured Parties with respect to the Collateral as set forth in this
Agreement and the First Lien Financing Documents; 
 (iv) the Third Lien Collateral Agent, for itself and on behalf of the
Third Lien Secured Parties, agrees that the Third Lien Secured Parties will not take any action with respect to the Collateral that would hinder any exercise of remedies under the First Lien Financing Documents, the Second Lien Financing Documents
or is otherwise prohibited hereunder, including any sale, lease, exchange, transfer or other Disposition of the Collateral, whether by foreclosure or otherwise; 

  
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 (v) the Third Lien Collateral Agent, for itself and on behalf of the Third
Lien Secured Parties, hereby waives any and all rights it or the Third Lien Secured Parties may have as junior lien creditors or otherwise to object to the manner in which the First Lien Collateral Agent, any other First Lien Secured Party, the
Second Lien Collateral Agent or any other Second Lien Secured Party seeks to enforce or collect the First Lien Obligations, the Liens securing the First Lien Obligations granted in any of the First Lien Collateral, the Second Lien Obligations, or
the Liens securing the Second Lien Obligations granted in any of the Second Lien Collateral undertaken in accordance with this Agreement, regardless of whether any action or failure to act by or on behalf of the First Lien Collateral Agent, the
First Lien Secured Parties, the Second Lien Collateral Agent or the Second Lien Secured Parties is adverse to the interest of the Third Lien Secured Parties; and 

(vi) the Third Lien Collateral Agent hereby acknowledges and agrees that no covenant, agreement or restriction contained in the
Third Lien Financing Documents (other than this Agreement) shall be effective to restrict or be deemed to restrict in any way the rights and remedies of the First Lien Secured Parties or the Second Lien Secured Parties with respect to the Collateral
as set forth in this Agreement, the First Lien Financing Documents and the Second Lien Financing Documents. 
 (g) Subject to the terms of
this Agreement (and to the extent not otherwise in contravention of the terms of this Agreement), the Second Lien Collateral Agent and the Second Lien Secured Parties may exercise rights and remedies as unsecured creditors against any Grantor that
has guaranteed or granted Liens to secure the Second Lien Obligations in accordance with the terms of the Second Lien Financing Documents and applicable law; provided that, in the event that any Second Lien Secured Party becomes a judgment
Lien creditor in respect of Collateral as a result of its enforcement of its rights as an unsecured creditor with respect to the Second Lien Obligations, such judgment Lien shall be subject to the terms of this Agreement for all purposes (including
in relation to the First Lien Obligations) as the other Liens securing the Second Lien Obligations that are subject to this Agreement. Subject to the terms of this Agreement (and to the extent not otherwise in contravention of the terms of this
Agreement), the Third Lien Collateral Agent and the Third Lien Secured Parties may exercise rights and remedies as unsecured creditors against any Grantor that has guaranteed or granted Liens to secure the Third Lien Obligations in accordance with
the terms of the Third Lien Financing Documents and applicable law; provided that, in the event that any Third Lien Secured Party becomes a judgment Lien creditor in respect of Collateral as a result of its enforcement of its rights as an
unsecured creditor with respect to the Third Lien Obligations, such judgment Lien shall be subject to the terms of this Agreement for all purposes (including in relation to the First Lien Obligations and the Second Lien Obligations) as the other
Liens securing the Third Lien Obligations that are subject to this Agreement. 

  
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 (h) Subject to the limitations in Section 3.1(e)(v),
Section 3.1 hereof shall not be construed to in any way limit or impair the right of (i) any First Lien Secured Party, any Second Lien Secured Party or any Third Lien Secured Party to bid for or purchase Collateral at
any private or judicial foreclosure upon such Collateral initiated by any of them, (ii) any Second Lien Secured Party’s right to receive any remaining proceeds of Collateral after the Discharge of First Lien Obligations or (iii) any
Third Lien Secured Party’s right to receive any remaining proceeds of Collateral after the Discharge of First Lien Obligations and the Discharge of Second Lien Obligations. 

(i) Nothing in this Agreement shall prohibit the receipt by any of the Second Lien Secured Parties of the required payments of interest,
principal and other amounts owed in respect of the Second Lien Obligations as set forth in the Second Lien Financing Documents as in effect on this date (subject to any modifications thereto permitted pursuant to
Section 5.3(b)) or in the Additional Second Lien Financing Documents as in effect on the date on which a fully executed Second Lien Joinder in respect of the applicable Additional Second Lien Agreement shall have been
delivered in accordance with Section 5.7 (subject to any modifications thereto permitted pursuant to Section 5.3(b)), so long as, to the extent Sections 3.1(a), 3.1(c), 3.1(e)
and 6.3(b) do not apply, such receipt is not the direct or indirect result of any Enforcement Action or other enforcement in each case with respect to the Collateral in contravention of this Agreement. Nothing in this Agreement shall prohibit
the receipt by any of the Third Lien Secured Parties of the required payments of interest, principal and other amounts owed in respect of the Third Lien Obligations as set forth in the Third Lien Financing Documents as in effect on the date on which
a fully executed Third Lien Joinder in respect of the applicable Third Lien Agreement shall have been delivered in accordance with Section 5.8 (subject to any modifications thereto permitted pursuant to
Section 5.3(b)), so long as, to the extent Sections 3.1(a), 3.1(c), 3.1(e) and 6.3(b) do not apply, such receipt is not the direct or indirect result of any Enforcement Action or other
enforcement in each case with respect to the Collateral in contravention of this Agreement. 
 (j) Nothing in this Agreement impairs or
otherwise adversely affects any rights or remedies the First Lien Secured Parties may have with respect to the First Lien Collateral. 

ARTICLE IV. 
 PAYMENTS

 Section 4.1 Application of Proceeds. (a) So long as the Discharge of First Lien Obligations has not occurred, any
Collateral or proceeds thereof received by the First Lien Collateral Agent in connection with the sale or other Disposition of, or collection or realization on, such Collateral by the First Lien Collateral Agent whether or not in any Insolvency or
Liquidation Proceeding or upon the exercise of any rights or remedies relating to the Collateral by the First Lien Collateral Agent and all payments or distributions of any kind received in connection with the same, shall be applied by the First
Lien Collateral Agent first to the First Lien Obligations in such order as specified in the applicable First Lien Financing Documents. 

(b) Upon the Discharge of First Lien Obligations, any remaining Collateral or proceeds thereof shall be delivered to the Second Lien
Collateral Agent in the same form as 

  
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received, with any necessary endorsements (such endorsements to be without recourse and without any representation or warranty) or as a court of competent jurisdiction may otherwise direct to be
applied by the Second Lien Collateral Agent to the Second Lien Obligations in such order as specified in the applicable Second Lien Financing Documents. The Second Lien Collateral Agent shall apply the proceeds of any sale or other Disposition of,
or collection or realization on, any Second Lien Collateral, subject to Section 4.2. 
 (c) After the Discharge of
First Lien Obligations and upon the Discharge of Second Lien Obligations, any remaining Collateral or proceeds thereof shall be delivered to the Third Lien Collateral Agent in the same form as received, with any necessary endorsements (such
endorsements to be without recourse and without any representation or warranty) or as a court of competent jurisdiction may otherwise direct to be applied by the Third Lien Collateral Agent to the Third Lien Obligations in such order as specified in
the applicable Third Lien Financing Documents. The Third Lien Collateral Agent shall apply the proceeds of any sale or other Disposition of, or collection or realization on, any Third Lien Collateral, subject to
Section 4.2. 
 Section 4.2 Payments Over. 

(a) So long as the Discharge of First Lien Obligations has not occurred, whether or not any Insolvency or Liquidation Proceeding has been
commenced by or against any Grantor, any Collateral or proceeds thereof (including assets or proceeds subject to Liens referred to in the final sentence of Section 2.3) received by any of the Second Lien Secured Parties or
the Third Lien Secured Parties (i) in connection with any Insolvency or Liquidation Proceeding, (ii) in connection with the exercise of any right or remedy (including set-off) relating to the
Collateral or (iii) in contravention of this Agreement, shall be segregated and held in trust and forthwith paid over to the First Lien Collateral Agent for the benefit of the First Lien Secured Parties in the same form as received, with any
necessary endorsements (but without representation or warranty) or as a court of competent jurisdiction may otherwise direct. The First Lien Collateral Agent is hereby authorized to make any such endorsements as agent for the Second Lien Secured
Parties and the Third Lien Secured Parties, as applicable. This authorization is coupled with an interest and is irrevocable until the Discharge of First Lien Obligations. 

(b) After the Discharge of First Lien Obligations and so long as the Discharge of Second Lien Obligations has not occurred, whether or not any
Insolvency or Liquidation Proceeding has been commenced by or against any Grantor, any Collateral or proceeds thereof (including assets or proceeds subject to Liens referred to in the final sentence of Section 2.3) received
by any of the Third Lien Secured Parties (i) in connection with any Insolvency or Liquidation Proceeding, (ii) in connection with the exercise of any right or remedy (including set-off) relating to
the Collateral or (iii) in contravention of this Agreement, shall be segregated and held in trust and forthwith paid over to the Second Lien Collateral Agent for the benefit of the Second Lien Secured Parties, in the same form as received, with
any necessary endorsements (but without representation or warranty) or as a court of competent jurisdiction may otherwise direct. The Second Lien Collateral Agent is hereby authorized to make any such endorsements as agent for the Third Lien Secured
Parties. This authorization is coupled with an interest and is irrevocable until the Discharge of Second Lien Obligations. 

  
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 ARTICLE V. 

OTHER AGREEMENTS 

Section 5.1 Releases. (a) (i) If in connection with the exercise of the First Lien Collateral Agent’s remedies in respect of
the Collateral provided for in Section 3.1, the First Lien Collateral Agent, for itself or on behalf of any of the First Lien Secured Parties, releases any of its Liens on any part of the Collateral, then the Liens, if any,
of the Second Lien Collateral Agent, for itself and/or for the benefit of the Second Lien Secured Parties, and the Third Lien Collateral Agent, for itself and/or for the benefit of the Third Lien Secured Parties, on such part of the Collateral,
shall be automatically, unconditionally and simultaneously released without the need for any consent or other action on the part of any Second Lien Secured Party or any Third Lien Secured Party. The First Lien Collateral Agent is hereby authorized
to provide any such release as agent for the Second Lien Secured Parties and the Third Lien Secured Parties, as applicable. This authorization is coupled with an interest and is irrevocable until the Discharge of First Lien Obligations. The Second
Lien Collateral Agent, for itself or on behalf of any such Second Lien Secured Parties, and the Third Lien Collateral Agent, for itself or on behalf of any such Third Lien Secured Parties, promptly shall execute and deliver to the First Lien
Collateral Agent such termination statements, releases and other documents as the First Lien Collateral Agent or such Grantor may reasonably request to effectively confirm such release. 

(ii) After the Discharge of the First Lien Obligations, if in connection with the exercise of the Second Lien Collateral
Agent’s remedies in respect of the Collateral provided for in Section 3.1, the Second Lien Collateral Agent, for itself or on behalf of any of the Second Lien Secured Parties, releases any of its Liens on any part of
the Collateral, then the Liens, if any, of the Third Lien Collateral Agent, for itself and/or for the benefit of the Third Lien Secured Parties, on such part of the Collateral, shall be automatically, unconditionally and simultaneously released
without the need for any consent or other action on the part of any Third Lien Secured Party. The Second Lien Collateral Agent is hereby authorized to provide any such release as agent for the Third Lien Secured Parties. This authorization is
coupled with an interest and is irrevocable until the Discharge of Second Lien Obligations. The Third Lien Collateral Agent, for itself or on behalf of any such Third Lien Secured Parties, promptly shall execute and deliver to the Second Lien
Collateral Agent such termination statements, releases and other documents as the Second Lien Collateral Agent or such Grantor may reasonably request to effectively confirm such release. 

(b) If in connection with any sale, lease, exchange, transfer or other disposition of any Collateral (collectively, a
“Disposition”) other than in connection with any Enforcement Action, so long as such Disposition shall have otherwise complied (A) with the provisions of the Initial First Lien Term Loan Agreement, (B) with the provisions
of each other First Lien Financing Document, (C) with the provisions of the Second Lien Financing Documents, and (D) with the provisions of the Third Lien Financing Documents, the First Lien Collateral Agent, for itself or on behalf of any
of the First Lien Secured Parties, releases any of its Liens on any part of the Collateral, or after the Discharge of First Lien Obligations, the Second Lien Collateral Agent, for itself or on behalf of any of the Second Lien Secured Parties,
releases any of its Liens on any part of the Collateral, then the Liens, if any, of the Second Lien 

  
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Collateral Agent, for itself or for the benefit of the Second Lien Secured Parties, and the Third Lien Collateral Agent, for itself or for the benefit of the Third Lien Secured Parties on such
Collateral, shall be automatically, unconditionally and simultaneously released without the need for any consent or other action on the part of the Second Lien Collateral Agent, the Third Lien Collateral Agent, the Company, any Grantor, any Second
Lien Secured Party or any Third Lien Secured Party. The First Lien Collateral Agent is hereby authorized to provide any such release as agent for the Second Lien Secured Parties and the Third Lien Secured Parties, as applicable. This authorization
is coupled with an interest and is irrevocable until the Discharge of First Lien Obligations. Following the Discharge of the First Lien Obligations and so long as the Discharge of the Second Lien Obligations has not occurred, the Second Lien
Collateral Agent is hereby authorized to provide any such release as agent for the Third Lien Secured Parties. This authorization is coupled with an interest and is irrevocable until the Discharge of Second Lien Obligations. The Second Lien
Collateral Agent, for itself or on behalf of any such Second Lien Secured Parties, and the Third Lien Collateral Agent, for itself or on behalf of any such Third Lien Secured Parties, shall promptly shall execute and deliver to the First Lien
Collateral Agent or the Second Lien Collateral Agent, as applicable, such termination statements, releases and other documents as the First Lien Collateral Agent or the Second Lien Collateral Agent, as applicable, may reasonably request to
effectively confirm such release. 
 (c) (i) Until the Discharge of First Lien Obligations occurs, the Second Lien Collateral Agent, for
itself and on behalf of the Second Lien Secured Parties, and the Third Lien Collateral Agent, for itself and on behalf of the Third Lien Secured Parties, hereby irrevocably constitutes and appoints the First Lien Collateral Agent and any officer or
agent of the First Lien Collateral Agent, with full power of substitution, as its true and lawful attorney-in-fact, and comisionista mercantil con
representación in accordance with articles 273, 274, and other applicable articles of the Mexican Commerce Code (Código de Comercio), coupled with an interest, with full irrevocable power and
authority in the place and stead of the Second Lien Collateral Agent or the Third Lien Collateral Agent, or in the First Lien Collateral Agent’s own name, from time to time in the First Lien Collateral Agent’s discretion, for the purpose
of carrying out the terms of this Section 5.1 and Section 5.2, to take any and all appropriate action and to execute any and all documents and instruments which may be necessary to accomplish the
purposes of this Section 5.1 and Section 5.2, including any endorsements or other instruments of transfer or release, and the First Lien Collateral Agent hereby accepts such
comisión mercantile con representación and hereby waives its right contained in Article 304 of the Mexican Commerce Code. 

(ii) After the Discharge of First Lien Obligations and until the Discharge of Second Lien Obligations occurs, the Third Lien
Collateral Agent, for itself and on behalf of the Third Lien Secured Parties, hereby irrevocably constitutes and appoints the Second Lien Collateral Agent and any officer or agent of the Second Lien Collateral Agent, with full power of substitution,
as its true and lawful attorney-in-fact and comisionista mercantil con representación in accordance with articles 273, 274, and other applicable articles
of the Mexican Commerce Code (Código de Comercio), coupled with an interest, with full irrevocable power and authority in the place and stead of the Third Lien Collateral Agent, or in the Second Lien Collateral Agent’s own name,
from time to time in the Second Lien Collateral Agent’s discretion, for the purpose of carrying out the terms of this Section 5.1 and Section 5.2, to take any and all appropriate action and to

  
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execute any and all documents and instruments which may be necessary to accomplish the purposes of this Section 5.1 and Section 5.2, including
any endorsements or other instruments of transfer or release, and the Second Lien Collateral Agent hereby accepts such comisión mercantile con representación and hereby waives its right contained in Article 304 of the Mexican
Commerce Code. 
 (d) To the extent that any Secured Party obtains any new liens or additional guaranties from any Grantor, then each other
Authorized Collateral Agent, for itself and for its related Secured Parties, shall be granted a Lien on any such Collateral, subject to the Lien subordination provisions of this Agreement, and an additional guaranty. 

(e) The Liens granted to secure the Obligations shall attach to any proceeds resulting from actions taken as contemplated by Sections
5.1(a) and 5.1(b), subject to the relative priorities and provisions described herein, including, without limitation, Sections 2.1 and 3.1, and in the case of the Liens granted to secure the First Lien Obligations, subject
to clause (f)(i) below, and in the case of the Liens granted to secure the Second Lien Obligations, subject to clause (f)(ii) below. 

(f) (i) Upon the Discharge of First Lien Obligations, the First Lien Secured Parties’ Liens upon the Collateral will be automatically
released and the First Lien Collateral Agent shall deliver all Pledged Collateral in its possession (if any) together with any necessary endorsements (such endorsement shall be without recourse and without any representation or warranty),
first, to the Second Lien Collateral Agent to the extent Second Lien Obligations remain outstanding, second, after the Discharge of Second Lien Obligations, to the Third Lien Collateral Agent to the extent Third Lien Obligations remain
outstanding, and third, to the Grantors to the extent no First Lien Obligations, Second Lien Obligations or Third Lien Obligations remain outstanding (in each case, so as to allow such Person to obtain possession or control of such Pledged
Collateral). The First Lien Collateral Agent further agrees to take all other action reasonably requested by the Second Lien Collateral Agent and the Third Lien Collateral Agent following the Discharge of First Lien Obligations, at the sole expense
of the Grantors, in connection with the Second Lien Collateral Agent obtaining a first priority interest in the Pledged Collateral and the Third Lien Collateral Agent obtaining a second priority interest in the Pledged Collateral, in each case
subject to Permitted Liens (as such term is defined in the Initial Second Lien Term Loan Agreement) or as a court of competent jurisdiction may otherwise direct. 

(ii) After the Discharge of First Lien Obligations and upon the Discharge of Second Lien Obligations, the Second Lien Secured
Parties’ Liens upon the Collateral will be automatically released and the Second Lien Collateral Agent shall deliver all Pledged Collateral in its possession (if any) together with any necessary endorsements (such endorsement shall be without
recourse and without any representation or warranty), first, to the Third Lien Collateral Agent to the extent Third Lien Obligations remain outstanding, and second, to the Grantors to the extent no Third Lien Obligations remain
outstanding (in each case, so as to allow such Person to obtain possession or control of such Pledged Collateral). The Second Lien Collateral Agent further agrees to take all other action reasonably requested by the Third Lien Collateral Agent
following the Discharge of Second Lien Obligations, at the sole expense of the Grantors, in connection 

  
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with the Third Lien Collateral Agent obtaining a first priority interest in the Pledged Collateral, subject to Permitted Liens (as such term or its equivalent is defined in the Third Lien Term
Loan Agreement) or as a court of competent jurisdiction may otherwise direct. 
 Section 5.2 Insurance; Condemnation.
(i) Subject to the terms of, and the rights of the Grantors under, the First Lien Financing Documents and provided that the First Lien Secured Parties shall not have such rights unless an “Event of Default” as defined in the
First Lien Financing Documents has occurred and is continuing; unless and until the Discharge of First Lien Obligations has occurred, the First Lien Secured Parties shall have the sole and exclusive right to adjust settlement for any insurance
policy covering the Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting the Collateral. In furtherance of the foregoing, subject to
the terms of, and the rights of the Grantors under, the First Lien Financing Documents, the First Lien Collateral Agent shall be authorized to instruct any issuer of insurance with respect to the Collateral for any Grantor to pay any checks in
respect of the Collateral only to the First Lien Collateral Agent and, if for any reason the Second Lien Collateral Agent or the Third Lien Collateral Agent is named on any such check, the Second Lien Collateral Agent or the Third Lien Collateral
Agent, as applicable, shall promptly sign all documents necessary to enable the First Lien Collateral Agent to deposit such check and receive the funds payable under such check (the First Lien Collateral Agent may, at its option, execute such
documents on behalf of the Second Lien Collateral Agent or the Third Lien Collateral Agent under the powers granted under Section 5.1(b)). Unless and until the Discharge of First Lien Obligations has occurred, and subject
to the rights of the Grantors under the First Lien Financing Documents, all proceeds of any such policy and any such award (or any payments with respect to a deed in lieu of condemnation) if in respect to the Collateral and to the extent required by
the First Lien Financing Documents shall be paid to the First Lien Collateral Agent for the benefit of the First Lien Secured Parties pursuant to the terms of the First Lien Financing Documents and thereafter, to the extent no First Lien Obligations
are outstanding, and subject to the rights (if any) of the Grantors under the Second Lien Financing Documents, to the Second Lien Collateral Agent for the benefit of the Second Lien Secured Parties to the extent required under the Second Lien
Financing Documents. Until the Discharge of First Lien Obligations has occurred, if any of the Second Lien Secured Parties or the Third Lien Secured Parties shall, at any time, receive any proceeds of any such insurance policy or any such award or
payment in contravention of this Agreement, it shall segregate and hold in trust and forthwith pay such proceeds over to the First Lien Collateral Agent in accordance with the terms of Section 4.2. 

(ii) Subject to the terms of, and the rights of the Grantors under, the Second Lien Financing Documents and provided
that the Second Lien Secured Parties shall not have such rights unless an “Event of Default” as defined in the Second Lien Financing Documents has occurred and is continuing, after the Discharge of First Lien Obligations and unless and
until the Discharge of Second Lien Obligations has occurred, the Second Lien Secured Parties shall have the sole and exclusive right to adjust settlement for any insurance policy covering the Collateral in the event of any loss thereunder and to
approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting the Collateral. In furtherance of the foregoing (and after the Discharge of the First Lien Obligations), subject to the terms of, and
the rights of the 

  
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Grantors under, the Second Lien Financing Documents, the Second Lien Collateral Agent shall be authorized to instruct any issuer of insurance with respect to the Collateral for any Grantor to pay
any checks in respect of the Collateral only to the Second Lien Collateral Agent and, if for any reason the Third Lien Collateral Agent is named on any such check, the Third Lien Collateral Agent, as applicable, shall promptly sign all documents
necessary to enable the Second Lien Collateral Agent to deposit such check and receive the funds payable under such check (the Second Lien Collateral Agent may, at its option, execute such documents on behalf of the Third Lien Collateral Agent under
the powers granted under Section 5.1(b)). After the Discharge of First Lien Obligation and unless and until the Discharge of Second Lien Obligations has occurred, and subject to the rights of the Grantors under the Second
Lien Financing Documents, all proceeds of any such policy and any such award (or any payments with respect to a deed in lieu of condemnation) if in respect to the Collateral and to the extent required by the Second Lien Financing Documents shall be
paid to the Second Lien Collateral Agent for the benefit of the Second Lien Secured Parties pursuant to the terms of the Second Lien Financing Documents and thereafter, to the extent no Second Lien Obligations are outstanding, and subject to the
rights (if any) of the Grantors under the Third Lien Financing Documents, to the Third Lien Collateral Agent for the benefit of the Third Lien Secured Parties to the extent required under the Third Lien Financing Documents. After the Discharge of
First Lien Obligations and until the Discharge of Second Lien Obligations has occurred, if any of the Third Lien Secured Parties shall, at any time, receive any proceeds of any such insurance policy or any such award or payment in contravention of
this Agreement, it shall segregate and hold in trust and forthwith pay such proceeds over to the Second Lien Collateral Agent in accordance with the terms of Section 4.2. 

(iii) To effectuate the foregoing, the loss payable clauses attached as Schedules I and II to each of the vessel mortgages
described in Schedules 3 and 4 hereto shall be amended and restated in substantially the forms of Exhibits C-1 and C-2 hereto, respectively, and the relevant Grantors
shall cause all policies and certificates of entry with respect to insurances required by each such vessel mortgage for each vessel covered thereby to contain such amended and restated loss payable clauses in accordance with the requirements of such
vessel mortgage. The relevant vessel mortgages shall be amended as necessary to include such amended and restated loss payable clauses. Any new vessel mortgages granted to an Authorized Collateral Agent shall contain loss payable clauses in
substantially the forms of Exhibits C-1 and C-2 hereto. In the event of any inconsistency between the terms of any loss payable endorsements that may be issued by an
insurance company or by a protection and indemnity club, on the one hand, and the terms of Sections 5.2(i) and (ii) hereof, on the other hand, then as among the parties hereto, the terms of Sections 5.2(i) and (ii) hereof shall govern and
prevail. 
 Section 5.3 Amendments to First Lien Financing Documents, Second Lien Financing Documents and Third Lien Financing
Documents. (a) The First Lien Financing Documents may be amended, restated, Refinanced, replaced, supplemented or otherwise modified in accordance with their terms, and the First Lien Obligations may be Refinanced in whole or in part, in
each case, without notice to, or the consent of the Second Lien Collateral Agent, the Second Lien Secured Parties, the Third Lien Collateral Agent or the Third Lien Secured Parties, all without 

  
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affecting the Lien subordination or other provisions of this Agreement; provided, however, that (i) in the case of such a Refinancing transaction, (A) if such Refinancing
Indebtedness will constitute First Lien Obligations, the incurrence of such Refinancing Indebtedness complies with the terms of this Agreement, including Sections 5.3 and 5.5, (B) if such Refinancing Indebtedness will constitute Second
Lien Obligations, the incurrence of such Refinancing Indebtedness complies with the terms of this Agreement, including Sections 5.3 and 5.7, and (C) if such Refinancing Indebtedness will constitute Third Lien Obligations, the incurrence
of such Refinancing Indebtedness complies with the terms of this Agreement, including Sections 5.3 and 5.8 and (ii) any such amendment, restatement, supplement, modification or Refinancing shall not, without the consent of the Second
Lien Collateral Agent and the Third Lien Collateral Agent, contravene the provisions of this Agreement. 
 (b) The Second Lien Financing
Documents may be amended, restated, Refinanced, replaced, supplemented or otherwise modified in accordance with their terms, and the Second Lien Obligations may be Refinanced in whole or in part, in each case, without notice to, or the consent
(except to the extent a consent is required to permit such amendment, supplement or other modification or such Refinancing transaction under any First Lien Financing Document) of any First Lien Secured Party or any Third Lien Secured Party, all
without affecting the Lien subordination or other provisions of this Agreement; provided, however, that, (i) in the case of such a Refinancing transaction, (A) if such Refinancing Indebtedness will constitute First Lien
Obligations, the incurrence of such Refinancing Indebtedness complies with the terms of this Agreement, including Sections 5.3 and 5.5, (B) if such Refinancing Indebtedness will constitute Second Lien Obligations, the incurrence of
such Refinancing Indebtedness complies with the terms of this Agreement, including Sections 5.3 and 5.7, and (C) if such Refinancing Indebtedness will constitute Third Lien Obligations, the incurrence of such Refinancing
Indebtedness complies with the terms of this Agreement, including Sections 5.3 and 5.8 and (ii) any such amendment, restatement, supplement, modification or Refinancing shall not, without the consent of the First Lien Collateral
Agent and the Third Lien Collateral Agent, contravene the provisions of this Agreement. 
 (c) The Third Lien Financing Documents may be
amended, restated, Refinanced, replaced, supplemented or otherwise modified in accordance with their terms, and the Third Lien Obligations may be Refinanced in whole or in part, in each case, without notice to, or the consent (except to the extent a
consent is required to permit such amendment, supplement or other modification or such Refinancing transaction under any First Lien Financing Document or any Second Lien Financing Document) of any First Lien Secured Party or any Second Lien Secured
Party, all without affecting the Lien subordination or other provisions of this Agreement; provided, however, that, (i) in the case of such a Refinancing transaction, (A) if such Refinancing Indebtedness will constitute First
Lien Obligations, the incurrence of such Refinancing Indebtedness complies with the terms of this Agreement, including Sections 5.3 and 5.5, (B) if such Refinancing Indebtedness will constitute Second Lien Obligations, the incurrence
of such Refinancing Indebtedness complies with the terms of this Agreement, including Sections 5.3 and 5.7, and (C) if such Refinancing Indebtedness will constitute Third Lien Obligations, the incurrence of such Refinancing Indebtedness
complies with the terms of this Agreement, including Sections 5.3 and 5.8 and (ii) any such amendment, restatement, supplement, modification or Refinancing shall not, without the consent of the First Lien Collateral Agent and the Second
Lien Collateral Agent, contravene the provisions of this Agreement. 

  
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 (d) The Second Lien Collateral Agent, on behalf of the Second Lien Secured Parties, agrees
that each Second Lien Security Document shall include the following language (or language to similar effect approved by the First Lien Collateral Agent): 

“Notwithstanding anything herein to the contrary, the lien and security interest granted to the Second Lien Collateral Agent pursuant to
this Agreement and the exercise of any right or remedy by the Second Lien Collateral Agent or Second Lien Secured Parties hereunder are subject to the provisions of the Intercreditor Agreement dated as of February 7, 2019 (as amended, restated,
Refinanced, replaced, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”) by and among Hornbeck Offshore Services, Inc., a Delaware corporation, each other Grantor (as hereinafter defined) Wilmington
Trust, National Association, as Initial First Lien Administrative Agent, Wilmington Trust, National Association, as Second Lien Collateral Agent, and certain other persons party or that may become party thereto from time to time. In the event of any
conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control.” 

(e) The Third Lien Collateral Agent, on behalf of the Third Lien Secured Parties, agrees that each Third Lien Security Document shall include
the following language (or language to similar effect approved by the First Lien Collateral Agent and the Second Lien Collateral Agent): 

“Notwithstanding anything herein to the contrary, the lien and security interest granted to the Third Lien Collateral Agent pursuant to
this Agreement and the exercise of any right or remedy by the Third Lien Collateral Agent or Third Lien Secured Parties hereunder are subject to the provisions of the Intercreditor Agreement dated as of February 7, 2019 (as amended, restated,
Refinanced, replaced, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”) by and among Hornbeck Offshore Services, Inc., a Delaware corporation, each other Grantor (as hereinafter defined) Wilmington
Trust, National Association, as Initial First Lien Administrative Agent, Wilmington Trust, National Association, as Second Lien Collateral Agent, [-], as Third Lien Collateral Agent and certain other persons party or that may become party thereto
from time to time. In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control.” 

Section 5.4 Bailee for Perfection. (a) (i) The First Lien Collateral Agent agrees to hold that part of the Collateral that is
in its possession or control (or in the possession or control of its agents or bailees) to the extent that possession or control thereof is taken to perfect a Lien thereon under the UCC or other applicable law (such Collateral being the
“Pledged Collateral”) as collateral agent for the First Lien Secured Parties and as bailee for the Second Lien Collateral Agent and the Third Lien Collateral Agent (such bailment being intended, among other things, to satisfy the
requirements of Sections 8301(a)(2) and 9-313(c) of the UCC) and any assignee of the Second Lien Collateral Agent or the Third Lien Collateral Agent solely for the purpose of

  
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perfecting the security interest granted under the First Lien Financing Documents, the Second Lien Financing Documents and the Third Lien Financing Documents, respectively, subject to the terms
and conditions of this Section 5.4. In the event that the Second Lien Collateral Agent, any other Second Lien Secured Party, the Third Lien Collateral Agent or any other Third Lien Secured Party shall come into possession
of any Pledged Collateral prior to the Discharge of First Lien Obligations in contravention of this Agreement, then the Second Lien Collateral Agent, such other Second Lien Secured Party, the Third Lien Collateral Agent or such other Third Lien
Secured Party shall deliver such Pledged Collateral to the First Lien Collateral Agent. 
 (ii) After the Discharge of First
Lien Obligations and until the Discharge of Second Lien Obligations, the Second Lien Collateral Agent agrees to hold that Pledged Collateral that is in its possession or control (or in the possession or control of its agents or bailees) as
collateral agent for the Second Lien Secured Parties and as bailee for the Third Lien Collateral Agent (such bailment being intended, among other things, to satisfy the requirements of Sections 8301(a)(2) and
9-313(c) of the UCC) and any assignee of the Third Lien Collateral Agent solely for the purpose of perfecting the security interest granted under the Second Lien Financing Documents and the Third Lien
Financing Documents, respectively, subject to the terms and conditions of this Section 5.4. In the event that the Third Lien Collateral Agent or any other Third Lien Secured Party shall come into possession of any Pledged
Collateral after the Discharge of First Lien Obligations and prior to the Discharge of Second Lien Obligations in contravention of this Agreement, then the Third Lien Collateral Agent or such other Third Lien Secured Party shall deliver such Pledged
Collateral to the Second Lien Collateral Agent. 
 (b) The First Lien Collateral Agent shall have no obligation whatsoever to the First Lien
Secured Parties, the Second Lien Secured Parties or the Third Lien Secured Parties to ensure that the Pledged Collateral is genuine or owned by any of the Grantors or to preserve rights or benefits of any Person except as expressly set forth in this
Section 5.4. The duties or responsibilities of the First Lien Collateral Agent to the Second Lien Collateral Agent and the Third Lien Collateral Agent under this Section 5.4 shall be limited solely
to holding the Pledged Collateral as Collateral Agent for the benefit of and on behalf of the First Lien Secured Parties, and as bailee for the Second Lien Collateral Agent and the Third Lien Collateral Agent in accordance with this
Section 5.4 and delivering the Pledged Collateral upon a Discharge of First Lien Obligations as provided in paragraph (d) below. Following the delivery of the Pledged Collateral to the Second Lien Collateral
Agent upon Discharge of the First Lien Obligations, the Second Lien Collateral Agent shall have no obligation whatsoever to the Second Lien Secured Parties or the Third Lien Secured Parties to ensure that the Pledged Collateral is genuine or owned
by any of the Grantors or to preserve rights or benefits of any Person except as expressly set forth in this Section 5.4. The duties or responsibilities of the Second Lien Collateral Agent to the Third Lien Collateral Agent
under this Section 5.4 shall be limited solely to holding the Pledged Collateral as Collateral Agent for the benefit of and on behalf of the Second Lien Secured Parties and as bailee for the Third Lien Collateral Agent in
accordance with this Section 5.4 and delivering the Pledged Collateral upon a Discharge of Second Lien Obligations as provided in paragraph (d) below. 

(c) The First Lien Collateral Agent acting pursuant to this Section 5.4 shall not have by reason of the First Lien
Security Documents, the Second Lien Security Documents, 

  
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the Third Lien Security Documents, this Agreement or any other document, a fiduciary relationship in respect of any First Lien Secured Party, any Second Lien Secured Party or any Third Lien
Secured Party. The Second Lien Collateral Agent acting pursuant to this Section 5.4 shall not have by reason of the Second Lien Security Documents, the Third Lien Security Documents, this Agreement or any other document, a
fiduciary relationship in respect of any Second Lien Secured Party or any Third Lien Secured Party. 
 (d) Until the Discharge of First Lien
Obligations has occurred, the First Lien Collateral Agent shall be entitled to deal with the Pledged Collateral in accordance with the terms of the First Lien Financing Documents as if the Liens of the Second Lien Collateral Agent under the Second
Lien Security Documents and the Liens of the Third Lien Collateral Agent under the Third Lien Security Documents did not exist. Until the Discharge of First Lien Obligations has occurred, the rights of the Second Lien Collateral Agent and the Third
Lien Collateral Agent shall at all times be subject to the terms of this Agreement. After the Discharge of First Lien Obligations and until the Discharge of Second Lien Obligations has occurred, the Second Lien Collateral Agent shall be entitled to
deal with the Pledged Collateral in accordance with the terms of the Second Lien Financing Documents as if the Liens of the Third Lien Collateral Agent under the Third Lien Security Documents did not exist. After the Discharge of First Lien
Obligations and until the Discharge of Second Lien Obligations has occurred, the rights of the Third Lien Collateral Agent shall at all times be subject to the terms of this Agreement. 

Section 5.5 When Discharge of Obligations Deemed to Not Have Occurred; Additional First Lien Indebtedness. (a) If
concurrently with the Discharge of First Lien Obligations, the Company enters into any Refinancing of the then existing First Lien Obligations, which Refinancing is permitted by this Agreement (including
Section 5.3(a)(ii)), the Second Lien Financing Documents and the Third Lien Financing Documents as in effect on the date hereof, then such Discharge of First Lien Obligations, as the case may be, shall automatically be
deemed not to have occurred for all purposes of this Agreement, and, from and after the date on which such Refinancing Indebtedness is incurred in accordance with the terms hereof, the obligations under such Refinancing shall automatically be
treated as First Lien Obligations, for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Collateral set forth herein, and the applicable New First Lien Agent under such new First Lien Financing
Documents shall be the First Lien Collateral Agent for all purposes of this Agreement. 
 (b) The Grantors will be permitted, subject to
Section 5.3, to (i) Refinance the First Lien Obligations in full or in part or (ii) in the event that no First Lien Obligations are then outstanding and the Discharge of First Lien Obligations shall have occurred
with respect to the most recent First Lien Obligations, incur new First Lien Obligations, in either case under an Additional First Lien Financing Document (the Indebtedness incurred under clause (i) or (ii) shall be referred to in
this Section 5.5 as “Additional First Lien Indebtedness”), and in connection therewith, designate as a holder of First Lien Obligations hereunder lenders and agents (including any New First Lien Agent)
thereunder, in each case only to the extent the Refinancing Indebtedness or new Indebtedness is incurred in accordance with the terms of this Agreement (including Section 5.3 and this Section 5.5).
The Grantors shall effect such designation by delivering to each then existing Authorized Collateral Agent and Debt Representative, each of the following: 

  
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 (i) on or prior to the date on which such Additional First Lien Indebtedness
is incurred, an Officers’ Certificate stating that the Grantors intend to incur such Additional First Lien Indebtedness as Refinancing Indebtedness or Indebtedness under a new First Lien Financing Document, and certifying that (A) such
incurrence is permitted and does not violate or result in any default under any then existing First Lien Financing Document, Second Lien Financing Document or Third Lien Financing Document (other than any incurrence of First Lien Obligations that
would simultaneously repay all First Lien Obligations under the First Lien Financing Documents under which such default would arise), determined assuming such commitments are fully drawn as of such date and (B) the definitive documentation
associated with such Additional First Lien Indebtedness contains a written agreement of the holders of such Indebtedness, for the enforceable benefit of all other holders of existing and future First Lien Obligations, all holders of existing and
future Second Lien Obligations, all holders of existing and future Third Lien Obligations, and each existing and future Debt Representative as follows: (x) that the holders of all obligations associated with such Additional First Lien
Indebtedness are bound by the provisions of, and agree to the terms of, this Agreement and (y) consenting to and directing the applicable New First Lien Agent or Additional First Lien Representative with respect to such Additional First Lien
Indebtedness to perform its obligations under this Agreement; 
 (ii) evidence that the Grantors have duly authorized,
executed (if applicable) and recorded (or caused to be recorded), or intend to authorize, execute and record (if applicable), in each appropriate governmental office all relevant filings and recordations to ensure that such Additional First Lien
Indebtedness is secured by the First Lien Collateral in accordance with this Agreement and the First Lien Security Documents; 

(iii) a written notice specifying the name and address of each New First Lien Agent or Additional First Lien Representative in
respect of such Additional First Lien Indebtedness for purposes of Section 8.9; and 
 (iv) a copy
of the executed First Lien Joinder, executed by each New First Lien Agent or Additional First Lien Representative (on behalf of each First Lien Secured Party represented by it). 

(c) Although the Grantors shall be required to deliver a copy of each of the foregoing documents described in clauses (i) through
(iv) of Section 5.5(b) to each then existing Authorized Collateral Agent and Debt Representative, the failure to so deliver a copy of any such document to any such Authorized Collateral Agent or Debt Representative
(other than the certification described in clause (i) of Section 5.5(b) and the executed First Lien Joinder referred to in clause (iv) of Section 5.5(b), which shall in all
cases be required and which shall be delivered to each then existing Authorized Collateral Agent and Debt Representative no later 

  
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than five Business Days prior to the execution and delivery of the Additional First Lien Financing Documents governing such Additional First Lien Indebtedness) shall not affect the status of such
Additional First Lien Indebtedness as First Lien Obligations entitled to the benefits of this Agreement if the other requirements of this Section 5.5 are complied with. 

(d) If and to the extent requested by any New First Lien Agent, and so long as the Grantors shall have delivered copies of the certificates
and documents referenced in clauses (i) through (iv) of Section 5.5(b) to each Authorized Collateral Agent and Debt Representative, each Authorized Collateral Agent will (to the extent the Additional
First Lien Indebtedness is incurred in accordance with such Authorized Collateral Agent’s applicable Financing Documents) confirm in writing (by countersigning and acknowledging the First Lien Joinder) that (i) the holders of such
contemplated Additional First Lien Indebtedness will be First Lien Secured Parties hereunder and (ii) the obligations of such holders associated with such Additional First Lien Indebtedness are First Lien Obligations hereunder. The failure of
any Authorized Collateral Agent to so confirm in writing shall not affect the status of such obligations as First Lien Obligations entitled to the benefits of this Agreement if the other requirements of this Section 5.5 are
complied with. 
 (e) [Reserved]. 

(f) Upon receipt of a notice (the “New First Lien Debt Notice”) stating that the Company has entered into a Refinancing in
respect of the then existing First Lien Obligations or a new First Lien Financing Document in accordance with the terms hereof (which notice shall include the identity of the new Debt Representative and/or Authorized Collateral Agent under the
applicable Refinance Documents, such Persons, the “New First Lien Agents”), and so long as the Grantors shall have delivered copies of the certificates and documents referenced in clauses (i) through (iv) of
Section 5.5(b) to the Second Lien Collateral Agent and the Third Lien Collateral Agent, the Second Lien Collateral Agent and the Third Lien Collateral Agent shall promptly, at the Grantors’ cost and expense,
(i) enter into such documents and agreements (including amendments, supplements or other modifications to this Agreement) as the Company or any such New First Lien Agent shall reasonably request in order to provide to the New First Lien Agents
the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement and (ii) deliver to the New First Lien Agents any Pledged Collateral held by it together with any necessary endorsements (or
otherwise allow the New First Lien Agents to obtain control of such Pledged Collateral). 
 (g) If the new First Lien Obligations under the
new Additional First Lien Financing Documents are secured by assets of the Grantors constituting Collateral that do not also secure the Second Lien Obligations and the Third Lien Obligations, then the Second Lien Obligations and the Third Lien
Obligations shall be secured at such time by a second and third priority Lien, as applicable, on such assets to the same extent provided in the new First Lien Security Documents and this Agreement. 

(h) Each Debt Representative and Authorized Collateral Agent agrees that this Agreement and the applicable First Lien Security Documents shall
be amended to the extent necessary or desirable to cause the Liens granted thereby to be in favor of the holders of such new First Lien Obligations (to the extent Liens in favor of such holders are expressly permitted

  
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by the terms hereof), and that the First Lien Collateral Agent is authorized to enter into such amendments as set forth in Section 8.4. The Liens granted in favor of the
First Lien Collateral Agent, for the benefit of the First Lien Secured Parties, shall be granted under the same First Lien Security Documents. 

(i) Each of the parties hereto agrees that this Agreement and the applicable First Lien Security Documents shall be amended to the extent
necessary or desirable to cause the holders of such new First Lien Obligations to be treated in the same manner as the First Lien Secured Parties under this Agreement, and that the First Lien Collateral Agent is authorized to enter into such
amendments as set forth in Section 8.4. 
 (j) Each then existing Debt Representative shall have the right to
request that the Company provide a copy of executed opinions of counsel to be provided to the holders of any Additional First Lien Agreement entered into in accordance with this Section, to such Debt Representative, on behalf of all relevant Secured
Parties, as to the associated Additional First Lien Indebtedness being secured by a valid and perfected security interest in the First Lien Collateral. Notwithstanding the foregoing, nothing in this Agreement will be construed to allow the Company
or any other Grantor to incur additional Indebtedness unless otherwise permitted by the terms of all applicable Financing Documents. This Section 5.5 shall survive termination of this Agreement. 

Section 5.6 Purchase Right. 

(a) Without prejudice to the enforcement of any of the First Lien Secured Parties’ remedies under the First Lien Financing Documents,
this Agreement, at law or in equity or otherwise, the First Lien Secured Parties agree that following the earlier to occur of (i) an acceleration of any of the First Lien Obligations in accordance with the terms of the applicable First Lien
Financing Documents and (ii) the commencement of any Insolvency or Liquidation Proceeding with respect to any Grantor (the earlier such event, the “Purchase Event”), within 15 days of the Purchase Event, the Second Lien Secured
Parties may request, and the First Lien Secured Parties hereby offer the Second Lien Secured Parties the option, to purchase in cash the entire aggregate amount (but not less than the entirety) of outstanding First Lien Obligations (including
unfunded commitments under any First Lien Financing Document that have not been terminated at such time) at the Purchase Price without warranty or representation or recourse except as provided in Section 5.6(d), on a pro
rata basis among the First Lien Secured Parties, which offer may be accepted by less than all of the Second Lien Secured Parties so long as all the accepting Second Lien Secured Parties shall when taken together purchase such entire aggregate amount
as set forth above (the purchase right described in this paragraph, the “Purchase Right”). 
 (b) The “Purchase
Price” will equal the sum of (1) the full amount of all First Lien Obligations then-outstanding and unpaid at par, including principal, accrued but unpaid interest and fees (including any premium under the First Lien Financing
Documents that would be applicable upon prepayment or repayment of the First Lien Obligations or termination of the commitments under the Initial First Lien Term Loan Agreement, including as a result of the Purchase Event or the exercise of the
Purchase Right) and any other unpaid amounts, including breakage costs and, in the case of any secured hedging obligations, the amount that would be 

  
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payable by the relevant Grantor thereunder if such Grantor were to terminate the hedge agreement in respect thereof on the date of the purchase or, if not terminated, an amount determined by the
relevant First Lien Secured Party to be necessary to collateralize its credit risk arising out of such agreement, (2) the cash collateral to be furnished to the First Lien Secured Parties providing letters of credit under the First Lien
Financing Documents in such amount (not to exceed 103% thereof) as such First Lien Secured Parties determine is reasonably necessary to secure such First Lien Secured Parties in connection with any such outstanding and undrawn letters of credit and
(3) all accrued and unpaid fees, expenses and other amounts (including attorneys’ fees and expenses) owed to the First Lien Secured Parties under or pursuant to the First Lien Financing Documents on the date of purchase. 

(c) If the Second Lien Secured Parties (or any subset of them) exercise their Purchase Right, it shall be exercised pursuant to documentation
mutually acceptable to each of the Initial First Lien Administrative Agent and the Second Lien Representatives and the parties shall endeavor to close promptly after the exercise thereof. If the Second Lien Secured Parties do not irrevocably
exercise their Purchase Right within 15 days after the Purchase Event, the First Lien Secured Parties shall have no further obligations pursuant to this Section 5.6 and may take any further actions in their sole discretion
in accordance with the First Lien Financing Documents and this Agreement. Each First Lien Secured Party will retain all rights to indemnification provided in the relevant First Lien Financing Documents for all claims and other amounts relating to
periods prior to the purchase of the First Lien Obligations pursuant to this Section 5.6. 
 (d) The purchase and
sale of the First Lien Obligations under this Section 5.6 will be without recourse and without representation or warranty of any kind by the First Lien Secured Parties, except that the First Lien Secured Parties shall
severally and not jointly represent and warrant to the Second Lien Secured Parties that on the date of such purchase, immediately before giving effect to the purchase; 

(i) the principal of and accrued and unpaid interest on the First Lien Obligations, and the fees and expenses thereof owed to the respective
First Lien Secured Parties, are as stated in any assignment agreement prepared in connection with the purchase and sale of the First Lien Obligations; and 

(ii) each First Lien Secured Party owns the First Lien Obligations purported to be owned by it free and clear of any Liens (other than
participation interests not prohibited by the First Lien Financing Documents, in which case the Purchase Price will be appropriately adjusted so that the Second Lien Secured Parties do not pay amounts represented by participation interests to the
extent that the Second Lien Secured Parties expressly assume the obligations under such participation interests). 
 Section 5.7
Additional Second Lien Indebtedness. (a) The Second Lien Collateral Agent will act as agent hereunder for, and perform its duties set forth herein on behalf of, each holder of Second Lien Obligations in respect of indebtedness that is
incurred after the date hereof that: 

  
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 (i) holds Additional Second Lien Obligations that are identified as such in
accordance with the procedures set forth in clause (b) of this Section 5.7; and 
 (ii)
signs, through its designated Additional Second Lien Representative identified pursuant to clause (b) of this Section 5.7, and delivers a Second Lien Joinder. 

(b) The Grantors will be permitted, subject to Section 5.3, to (x) Refinance the Second Lien Obligations in
full or in part or (y) incur Indebtedness in respect of an Additional Second Lien Agreement and to designate as an additional holder of Second Lien Obligations hereunder lenders, agents and each Additional Second Lien Representative, as
applicable, under such Additional Second Lien Agreement, in each case only to the extent such Additional Second Lien Agreement is incurred in accordance with the terms of this Agreement (including this Section 5.7) and only
to the extent such incurrence is permitted under the terms of the First Lien Financing Documents, the Second Lien Financing Documents (to the extent not Refinanced by such Indebtedness) and the Third Lien Financing Documents. The Grantors shall
effect such designation by delivering to each previously identified Authorized Collateral Agent and Debt Representative, each of the following: 

(i) on or prior to the date on which such Additional Second Lien Obligations are incurred, an Officers’ Certificate
stating that the Grantors intend to incur additional Indebtedness under such Additional Second Lien Agreement, and certifying that (A) such incurrence is permitted and does not violate or result in any default under the First Lien Financing
Documents, the Second Lien Financing Documents and the Third Lien Financing Documents (other than any incurrence of Second Lien Obligations that would simultaneously repay all First Lien Obligations, Second Lien Obligations or Third Lien
Obligations, as applicable, under the First Lien Financing Documents, the Second Lien Financing Documents or the Third Lien Financing Documents, as applicable, under which such default would arise) determined assuming such commitments are fully
drawn as of such date and (B) the definitive documentation associated with such Additional Second Lien Agreement contains a written agreement of the holders of such Indebtedness, for the enforceable benefit of all holders of existing and future
First Lien Obligations, all other holders of existing and future Second Lien Obligations, all other holders of existing and future Third Lien Obligations, and each existing and future Authorized Collateral Agent and each other existing and future
Debt Representative as follows: (x) that all Second Lien Obligations will be and are secured equally and ratably by all Liens granted to the Second Lien Collateral Agent, for the benefit of the Second Lien Secured Parties, at any time granted
by any Grantor to secure any Second Lien Obligations whether or not upon property otherwise constituting collateral to such Second Lien Obligations and that all Liens granted pursuant to the Second Lien Security Documents will be enforceable by the
Second Lien Collateral Agent for the benefit of all holders of Second Lien Obligations equally and ratably as contemplated by this Agreement, (y) that the holders of Second Lien Obligations in respect of such Additional Second Lien Agreement
are bound by the provisions of, and agree to 

  
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the terms of, this Agreement, including the provisions relating to the ranking of Liens and the order of application of proceeds from the enforcement of Liens and (z) consenting to and
directing the Second Lien Collateral Agent to perform its obligations under this Agreement and the Second Lien Security Documents; 

(ii) evidence that the Grantors have duly authorized, executed (if applicable) and recorded (or caused to be recorded), or
intend to authorize, execute and record (if applicable), in each appropriate governmental office all relevant filings and recordations to ensure that the Additional Second Lien Obligations in respect of such Additional Second Lien Agreement are
secured by the Collateral in accordance with this Agreement and the Second Lien Security Documents (including any amendments to the applicable Second Lien Security Documents necessary to increase the amount of Second Lien Obligations secured thereby
to an amount reasonably satisfactory to the Second Lien Collateral Agent); 
 (iii) a written notice specifying the name and
address of the Additional Second Lien Representative in respect of such Additional Second Lien Agreement for purposes of Section 8.9; and 

(iv) a copy of the executed Second Lien Joinder referred to in clause (a) above, executed by the new Additional
Second Lien Representative (on behalf of each Additional Second Lien Secured Party represented by it). 
 (c) Upon receipt of a notice (the
“New Second Lien Debt Notice”) stating that the Company has entered into a Refinancing in respect of the then existing Second Lien Obligations or a new Second Lien Financing Document in accordance with the terms hereof (which notice
shall include the identity of the new Debt Representative and/or Authorized Collateral Agent under the applicable Refinance Documents, such Persons, the “New Second Lien Agents”), and so long as the Grantors shall have delivered
copies of the certificates and documents referenced in clauses (i) through (iv) of Section 5.7(b) to the First Lien Collateral Agent and, if applicable, the Third Lien Collateral Agent, the First Lien
Collateral Agent and, if applicable, the Third Lien Collateral Agent shall promptly, at the Grantors’ cost and expense, enter into such documents and agreements (including amendments, supplements or other modifications to this Agreement) as the
Company or any such New Second Lien Agent shall reasonably request in order to provide to the New Second Lien Agents the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement. 

(d) Although the Grantors shall be required to deliver a copy of each of the foregoing documents described in clauses (i) through
(iv) of Section 5.7(b) to each then existing Authorized Collateral Agent, and to each then existing Debt Representative, the failure to so deliver a copy of any such document to any such Authorized Collateral Agent,
or to any such Debt Representative (other than the certification described in clause (i) of the applicable sub-clause of Section 5.7(b) and the Second Lien Joinder, as
applicable, referred to in clause (iv) of the applicable sub-clause of Section 5.7(b), which shall in all cases be required and which shall be delivered to each then
existing Authorized Collateral Agent and to each then existing Debt Representative no later than five Business Days prior to the execution and delivery of the 

  
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applicable Additional Second Lien Agreement governing such Additional Second Lien Indebtedness) shall not affect the status of such Additional Second Lien Indebtedness as Additional Second Lien
Obligations entitled to the benefits of this Agreement and the Second Lien Security Documents, if the other requirements of this Section 5.7 are complied with. 

(e) If and to the extent requested by the Second Lien Collateral Agent, and so long as the Grantors shall have delivered copies of the
certificates and documents referenced in clauses (i) through (iv) of Section 5.7(b) to each previously identified Authorized Collateral Agent and each other previously identified Debt Representative, each
Debt Representative will (to the extent the applicable Additional Second Lien Agreement is incurred in accordance with such Debt Representative’s applicable Financing Documents) confirm in writing (by countersigning and acknowledging the Second
Lien Joinder) that (i) the holders of such contemplated Additional Second Lien Indebtedness will be Second Lien Secured Parties hereunder, (ii) the obligations of such holders under the applicable contemplated documents are Second Lien
Obligations hereunder, and (iii) such obligations are secured by an equal and ratable second lien on the Collateral, as contemplated hereby. The failure of any Debt Representative to so confirm in writing shall not affect the status of such
obligations as Additional Second Lien Obligations or Second Lien Obligations entitled to the benefits of this Agreement and the Second Lien Security Documents if the other requirements of this Section 5.7 are complied with.

 (f) Each Debt Representative and Authorized Collateral Agent agrees that this Agreement and the applicable Second Lien Security Documents
shall be amended to the extent necessary or desirable to cause the Liens granted thereby to be in favor of the holders of such new Second Lien Obligations (to the extent Liens in favor of such holders are expressly permitted by the terms hereof),
and that the Second Lien Collateral Agent is authorized to enter into such amendments as set forth in Section 8.4. The Liens granted in favor of the Second Lien Collateral Agent, for the benefit of the Second Lien Secured
Parties, shall be granted under the same Second Lien Security Documents. 
 (g) Each of the parties hereto agrees that this Agreement and
the applicable Second Lien Security Documents shall be amended to the extent necessary or desirable to cause the holders of such new Second Lien Obligations to be treated in the same manner as the Second Lien Secured Parties under this Agreement,
and that the Second Lien Collateral Agent is authorized to enter into such amendments as set forth in Section 8.4. 

(h) Each then existing Debt Representative shall have the right to request that the Company provide a copy of executed opinions of counsel to
be provided to the holders of any Additional Second Lien Agreement entered into in accordance with this Section, to such Debt Representative, on behalf of all relevant Secured Parties, as to the associated Additional Second Lien Indebtedness being
secured by a valid and perfected security interest in the Second Lien Collateral, as applicable. Notwithstanding the foregoing, nothing in this Agreement will be construed to allow the Company or any other Grantor to incur additional Indebtedness
unless otherwise permitted by the terms of all applicable Financing Documents. This Section 5.7 shall survive termination of this Agreement. 

  
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 Section 5.8 Third Lien Indebtedness. (a) The Third Lien Collateral Agent
will act as agent hereunder for, and perform its duties set forth herein on behalf of, each holder of Third Lien Obligations in respect of indebtedness that is incurred after the date hereof that: 

(i) holds Third Lien Obligations that are identified as such in accordance with the procedures set forth in clause
(b) of this Section 5.8; and 
 (ii) signs, through its designated Third Lien
Representative identified pursuant to clause (b) of this Section 5.8, and delivers a Third Lien Joinder. 

(b) The Grantors will be permitted, subject to Section 5.3, to (x) Refinance the Third Lien Obligations in full
or in part or (y) incur Indebtedness in respect of a Third Lien Agreement and to designate as an additional holder of Third Lien Obligations hereunder lenders, agents and each Third Lien Representative, as applicable, under such Third Lien
Agreement, in each case only to the extent such Third Lien Agreement is incurred in accordance with the terms of this Agreement (including this Section 5.8) and only to the extent such incurrence is permitted under the
terms of the First Lien Financing Documents, the Second Lien Financing Documents and the Third Lien Financing Documents (in each case, to the extent not Refinanced by such Indebtedness). The Grantors shall effect such designation by delivering to
each previously identified Authorized Collateral Agent and Debt Representative, each of the following: 
 (i) on or prior to
the date on which such Third Lien Obligations are incurred, an Officers’ Certificate stating that the Grantors intend to incur additional Indebtedness under such Third Lien Agreement, and certifying that (A) such incurrence is permitted
and does not violate or result in any default under the First Lien Financing Documents, the Second Lien Financing Documents and the Third Lien Financing Documents (other than any incurrence of Third Lien Obligations that would simultaneously repay
all First Lien Obligations, Second Lien Obligations or Third Lien Obligations, as applicable, under the First Lien Financing Documents, the Second Lien Financing Documents or the Third Lien Financing Documents, as applicable, under which such
default would arise) determined assuming such commitments are fully drawn as of such date and (B) the definitive documentation associated with such Third Lien Agreement contains a written agreement of the holders of such Indebtedness, for the
enforceable benefit of all holders of existing and future First Lien Obligations, all other holders of existing and future Second Lien Obligations, all other holders of existing and future Third Lien Obligations, and each existing and future
Authorized Collateral Agent and each other existing and future Debt Representative as follows: (x) that all Third Lien Obligations will be and are secured equally and ratably by all Liens granted to the Third Lien Collateral Agent, for the
benefit of the Third Lien Secured Parties, at any time granted by any Grantor to secure any Third Lien Obligations whether or not upon property otherwise constituting collateral to such Third Lien Obligations and that all Liens granted pursuant to
the Third Lien Security Documents will be enforceable by the Third Lien Collateral Agent for the benefit of all holders of Third Lien Obligations equally and ratably as contemplated by this Agreement, (y) that the holders of Third Lien
Obligations in respect of such Third Lien Agreement are 

  
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bound by the provisions of, and agree to the terms of, this Agreement, including the provisions relating to the ranking of Liens and the order of application of proceeds from the enforcement of
Liens and (z) consenting to and directing the Third Lien Collateral Agent to perform its obligations under this Agreement and the Third Lien Security Documents; 

(ii) evidence that the Grantors have duly authorized, executed (if applicable) and recorded (or caused to be recorded), or
intend to authorize, execute and record (if applicable), in each appropriate governmental office all relevant filings and recordations to ensure that the Third Lien Obligations in respect of such Third Lien Agreement are secured by the Collateral in
accordance with this Agreement and the Third Lien Security Documents (including any amendments to the applicable Third Lien Security Documents necessary to increase the amount of Third Lien Obligations secured thereby to an amount reasonably
satisfactory to the Third Lien Collateral Agent); 
 (iii) a written notice specifying the name and address of the Third Lien
Representative in respect of such Third Lien Agreement for purposes of Section 8.9; and 
 (iv) a
copy of the executed Third Lien Joinder referred to in clause (a) above, executed by the new Third Lien Representative (on behalf of each Third Lien Secured Party represented by it). 

(c) Upon receipt of a notice (the “New Third Lien Debt Notice”) stating that the Company has entered into a
Refinancing in respect of the then existing Third Lien Obligations or a new Third Lien Financing Document in accordance with the terms hereof (which notice shall include the identity of the new Debt Representative and/or Authorized Collateral Agent
under the applicable Refinance Documents, such Persons, the “New Third Lien Agents”), and so long as the Grantors shall have delivered copies of the certificates and documents referenced in clauses (i) through
(iv) of Section 5.8(b) to the First Lien Collateral Agent and the Second Lien Collateral Agent, the First Lien Collateral Agent and the Second Lien Collateral Agent shall promptly, at the Grantors’ cost and
expense, enter into such documents and agreements (including amendments, supplements or other modifications to this Agreement) as the Company or any such New Third Lien Agent shall reasonably request in order to provide to the New Third Lien Agents
the rights contemplated hereby, in each case consistent in all material respects with the terms of this Agreement. 
 (d) Although the
Grantors shall be required to deliver a copy of each of the foregoing documents described in clauses (i) through (iv) of Section 5.8(b) to each then existing Authorized Collateral Agent, and to each then
existing Debt Representative, the failure to so deliver a copy of any such document to any such Authorized Collateral Agent, or to any such Debt Representative (other than the certification described in clause (1) of the applicable sub-clause of Section 5.8(b) and the Second Lien Joinder, as applicable, referred to in clause (iv) of the applicable sub-clause of
Section 5.8(b), which shall in all cases be required and which shall be delivered to each then existing Authorized Collateral Agent and to each then existing Debt Representative no later than five Business Days prior to the
execution and delivery of the 

  
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applicable Third Lien Agreement governing such Third Lien Indebtedness) shall not affect the status of such Third Lien Indebtedness as Third Lien Obligations entitled to the benefits of this
Agreement and the Third Lien Security Documents, if the other requirements of this Section 5.8 are complied with. 

(e) If and to the extent requested by the Third Lien Collateral Agent, and so long as the Grantors shall have delivered copies of the
certificates and documents referenced in clauses (i) through (iv) of Section 5.8(b) to each previously identified Authorized Collateral Agent and each other previously identified Debt Representative, each
Debt Representative will (to the extent the applicable Third Lien Agreement is incurred in accordance with such Debt Representative’s applicable Financing Documents) confirm in writing (by countersigning and acknowledging the Third Lien
Joinder) that (i) the holders of such contemplated Third Lien Indebtedness will be Third Lien Secured Parties hereunder, (ii) the obligations of such holders under the applicable contemplated documents are Third Lien Obligations hereunder,
and (iii) such obligations are secured by an equal and ratable third lien on the Collateral, as contemplated hereby. The failure of any Debt Representative to so confirm in writing shall not affect the status of such obligations as Third Lien
Obligations or Third Lien Obligations entitled to the benefits of this Agreement and the Third Lien Security Documents if the other requirements of this Section 5.8 are complied with. 

(f) Each Debt Representative and Authorized Collateral Agent agrees that this Agreement and the applicable Third Lien Security Documents shall
be amended to the extent necessary or desirable to cause the Liens granted thereby to be in favor of the holders of such new Third Lien Obligations (to the extent Liens in favor of such holders are expressly permitted by the terms hereof), and that
the Third Lien Collateral Agent is authorized to enter into such amendments as set forth in Section 8.4. The Liens granted in favor of the Third Lien Collateral Agent, for the benefit of the Third Lien Secured Parties,
shall be granted under the same Third Lien Security Documents. 
 (g) Each of the parties hereto agrees that this Agreement and the
applicable Third Lien Security Documents shall be amended to the extent necessary or desirable to cause the holders of such new Third Lien Obligations to be treated in the same manner as the Third Lien Secured Parties under this Agreement, and that
the Third Lien Collateral Agent is authorized to enter into such amendments as set forth in Section 8.4. 
 (h)
Each then existing Debt Representative shall have the right to request that the Company provide a copy of executed opinions of counsel to be provided to the holders of any Third Lien Agreement entered into in accordance with this Section, to such
Debt Representative, on behalf of all relevant Secured Parties, as to the associated Third Lien Indebtedness being secured by a valid and perfected security interest in the Third Lien Collateral, as applicable. Notwithstanding the foregoing, nothing
in this Agreement will be construed to allow the Company or any other Grantor to incur additional Indebtedness unless otherwise permitted by the terms of all applicable Financing Documents. This Section 5.8 shall survive
termination of this Agreement. 

  
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 ARTICLE VI. 

INSOLVENCY OR LIQUIDATION PROCEEDINGS 

Section 6.1 Finance and Sale Issues. (a) (i) Until the Discharge of First Lien Obligations has occurred, if any Grantor shall
be subject to any Insolvency or Liquidation Proceeding and the First Lien Collateral Agent shall desire to permit the use, sale or lease of cash collateral (as such term is defined in Section 363(a) of the Bankruptcy Code or any similar
Bankruptcy Law), on which the First Lien Collateral Agent or any other creditor has a Lien or to permit any Grantor to obtain financing, whether from one or more of the First Lien Secured Parties or any other Person, under Section 364 of the
Bankruptcy Code or any similar Bankruptcy Law (“DIP Financing”), then the Second Lien Collateral Agent, on behalf of itself and the Second Lien Secured Parties, and the Third Lien Collateral Agent, on behalf of itself and the Third
Lien Secured Parties, agrees that (i) it will raise no objection to, or oppose or contest (or join with or support any third party opposing, objecting or contesting), such cash collateral use or DIP Financing (including any proposed orders for
such cash collateral use and/or DIP Financing which are acceptable to the First Lien Collateral Agent) and it will be deemed to have consented to such cash collateral use or DIP Financing (including such proposed orders), (ii) to the extent the
Liens securing the First Lien Obligations are subordinated to or on an equal and ratable basis with such DIP Financing or cash collateral use, the Second Lien Collateral Agent and the Third Lien Collateral Agent (A) will subordinate its Liens
on the Collateral to the Liens securing such DIP Financing or use of cash collateral (and all obligations relating thereto and any customary “carve-out” for professional and United States Trustee
fees) and to all adequate protection Liens granted to the First Lien Secured Parties on the same basis as the Liens securing the Second Lien Obligations and Third Lien Obligations are subordinated to the Liens securing the First Lien Obligations
under this Agreement) and (B) will not request adequate protection or any other relief in connection therewith (except, as expressly agreed by the First Lien Collateral Agent or to the extent permitted by Section 6.3),
(iii) it will raise no objection to, or oppose or contest (or join with or support any third party opposing, objecting or contesting) any lawful exercise by any First Lien Secured Party of the right to credit bid First Lien Obligations at any sale
in foreclosure of Collateral (including, without limitation, pursuant to Section 363(k) of the Bankruptcy Code or any similar provision under any other applicable Bankruptcy Law) or to exercise any rights under Section 1111(b) of the
Bankruptcy Code. 
 (ii) After the Discharge of First Lien Obligations and until the Discharge of Second Lien Obligations has
occurred, if any Grantor shall be subject to any Insolvency or Liquidation Proceeding and the Second Lien Collateral Agent shall desire to permit the use, sale or lease of cash collateral (as such term is defined in Section 363(a) of the
Bankruptcy Code or any similar Bankruptcy Law), on which the Second Lien Collateral Agent or any other creditor has a Lien or to permit any Grantor to obtain DIP Financing, then the Third Lien Collateral Agent, on behalf of itself and the Third Lien
Secured Parties, agrees that (i) it will raise no objection to, or oppose or contest (or join with or support any third party opposing, objecting or contesting), such cash collateral use or DIP Financing (including any proposed orders for such
cash collateral use and/or DIP Financing which are acceptable to the Second Lien Collateral Agent) and it will be deemed to have consented to such cash collateral use or DIP Financing (including such proposed orders), (ii) to the extent the Liens
securing the Second Lien Obligations are subordinated to or on an equal and ratable basis with such DIP Financing or cash collateral use, the Third Lien Collateral Agent (A) will subordinate its Liens on the

  
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Collateral to the Liens securing such DIP Financing or use of cash collateral (and all obligations relating thereto and any customary “carve-out”
for professional and United States Trustee fees) and to all adequate protection Liens granted to the Second Lien Secured Parties on the same basis as the Liens securing the Third Lien Obligations are subordinated to the Liens securing the Second
Lien Obligations under this Agreement) and (B) will not request adequate protection or any other relief in connection therewith (except, as expressly agreed by the Second Lien Collateral Agent or to the extent permitted by
Section 6.3), (iii) it will raise no objection to, or oppose or contest (or join with or support any third party opposing, objecting or contesting) any lawful exercise by any Second Lien Secured Party of the right to credit
bid Second Lien Obligations at any sale in foreclosure of Collateral (including, without limitation, pursuant to Section 363(k) of the Bankruptcy Code or any similar provision under any other applicable Bankruptcy Law) or to exercise any rights
under Section 1111(b) of the Bankruptcy Code. 
 (b) The Second Lien Collateral Agent on behalf of the Second Lien Secured Parties and
the Third Lien Collateral Agent on behalf of the Third Lien Secured Parties agrees that it will not seek consultation rights in connection with, and it will raise no objection, oppose or contest (or join with or support any third party objecting,
opposing or contesting), a motion to sell, liquidate or otherwise dispose of Collateral under Section 363 of the Bankruptcy Code (or any successor provision or any comparable provision of any other Bankruptcy Law) if the requisite First Lien
Secured Parties or after the Discharge of First Lien Obligations, the requisite Second Lien Secured Parties have consented to such sale, liquidation or other disposition. The Second Lien Collateral Agent on behalf of itself and the Second Lien
Secured Parties and the Third Lien Collateral Agent on behalf of the Third Lien Secured Parties further agrees that it will not directly or indirectly oppose or impede entry of any order in connection with such sale, liquidation or other
disposition, including orders to retain professionals or set bid procedures in connection with such sale, liquidation or disposition if the requisite First Lien Secured Parties or after the Discharge of First Lien Obligations, the requisite Second
Lien Secured Parties have consented to (i) such retention of professionals and bid procedures in connection with such sale, liquidation or disposition of such assets and (ii) the sale, liquidation or disposition of such assets, in which
event the Second Lien Secured Parties and the Third Lien Secured Parties will be deemed to have consented to the sale or disposition of Collateral pursuant to Section 363(f) of the Bankruptcy Code (or any successor provision or any comparable
provision of any other applicable debtor relief law). 
 Section 6.2 Relief from the Automatic Stay. Until the Discharge of
First Lien Obligations has occurred, the Second Lien Collateral Agent, on behalf of itself and the Second Lien Secured Parties, and the Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, agrees that it shall not
seek (or support any other Person seeking) relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the Collateral, without the prior written consent of the First Lien Collateral Agent. Until the
Discharge of First Lien Obligations has occurred, the Second Lien Collateral Agent, on behalf of itself and the Second Lien Secured Parties, and the Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, further agrees
that it shall not object (or support any other Person who objects) to any motion by the First Lien Collateral Agent or the First Lien Secured Parties for relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in
respect of the Collateral. After the Discharge of First Lien 

  
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Obligations and until the Discharge of Second Lien Obligations has occurred, the Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, agrees that it shall not seek
(or support any other Person seeking) relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the Collateral, without the prior written consent of the Second Lien Collateral Agent. After the
Discharge of First Lien Obligations and until the Discharge of Second Lien Obligations has occurred, the Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, further agrees that it shall not object (or support any
other Person who objects) to any motion by the Second Lien Collateral Agent or the Second Lien Secured Parties for relief from the automatic stay or any other stay in any Insolvency or Liquidation Proceeding in respect of the Collateral. 

Section 6.3 Adequate Protection. (a) (i) The Second Lien Collateral Agent, on behalf of itself and the Second Lien Secured
Parties, and the Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, agrees that none of them shall contest (or support any other Person contesting): 

(A) any request by the First Lien Collateral Agent or the First Lien Secured Parties for adequate protection; 

(B) any objection by the First Lien Collateral Agent or the First Lien Secured Parties to any motion, relief, action or
proceeding based on the First Lien Collateral Agent or the First Lien Secured Parties claiming a lack of adequate protection; 

(C) the payment of interest, fees, expenses or other amounts to the First Lien Collateral Agent or any other First Lien Secured
Party under Section 506(b) or 506(c) of the Bankruptcy Code or otherwise; 
 (D) assert or support any claim for costs
or expenses of preserving or disposing of any Collateral under Section 506(c) of the Bankruptcy Code or any similar provision of any other Bankruptcy Law; or 

(E) request any form of adequate protection except as permitted by Section 6.3(b). 

(ii) The Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, agrees that none of them shall
contest (or support any other Person contesting): 
 (A) any request by the Second Lien Collateral Agent or the Second Lien
Secured Parties for adequate protection; 
 (B) any objection by the Second Lien Collateral Agent or the Second Lien Secured
Parties to any motion, relief, action or proceeding based on the Second Lien Collateral Agent or the Second Lien Secured Parties claiming a lack of adequate protection; 

  
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 (C) the payment of interest, fees, expenses or other amounts to the Second
Lien Collateral Agent or any other Second Lien Secured Party under Section 506(b) or 506(c) of the Bankruptcy Code or otherwise; 

(D) assert or support any claim for costs or expenses of preserving or disposing of any Collateral under Section 506(c) of
the Bankruptcy Code or any similar provision of any other Bankruptcy Law; or 
 (E) request any form of adequate protection
except as permitted by Section 6.3(b). 
 (b) Notwithstanding the foregoing provisions in this
Section 6.3, in any Insolvency or Liquidation Proceeding: 
 (i) if the First Lien Secured Parties
(or any subset thereof) are granted adequate protection in the form of additional payments or collateral in connection with any DIP Financing or use of cash collateral, then the Second Lien Collateral Agent, on behalf of itself or any of the Second
Lien Secured Parties, and the Third Lien Collateral Agent, on behalf of itself or any of the Third Lien Secured Parties, may seek or request adequate protection in the form of a Lien on such additional collateral, which Lien will be subject to the
terms of this Agreement subordinated to the Liens securing the First Lien Obligations and such DIP Financing or use of cash collateral (and all obligations relating thereto) on the same basis as the other Liens securing the Second Lien Obligations
and the Third Lien Obligations are so subordinated to the First Lien Obligations under this Agreement, and 
 (ii) not in
limitation of this Section 6.3 or elsewhere in this Agreement, in the event the Second Lien Collateral Agent, on behalf of itself or any of the Second Lien Secured Parties, or the Third Lien Collateral Agent, on behalf of
itself or any of the Third Lien Secured Parties, is entitled to and does seek or request adequate protection in respect of Second Lien Obligations or the Third Lien Obligations, respectively, and such adequate protection is granted in the form of
additional collateral, then the Second Lien Collateral Agent, on behalf of itself or any of the Second Lien Secured Parties, and the Third Lien Collateral Agent, on behalf of itself or any of the Third Lien Secured Parties, agrees that the First
Lien Collateral Agent shall also be granted a senior Lien on such additional collateral as security for the First Lien Obligations and for any cash collateral use or DIP Financing provided by the First Lien Secured Parties and that any Lien on such
additional collateral securing the Second Lien Obligations or the Third Lien Obligations and any such cash collateral or DIP Financing provided by the First Lien Secured Parties (and all obligations relating thereto) and to any other Liens granted
to the First Lien Secured Parties as adequate protection on the same basis as the other Liens securing the Second Lien Obligations and the Third Lien Obligations are so subordinated to such First Lien Obligations under this Agreement. Except as
otherwise expressly set forth in Section 6.1 or in connection with the exercise of remedies with respect to the Collateral, nothing herein shall limit the rights of any Second Lien Secured Party or any Third Lien

  
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Secured Party from seeking adequate protection with respect to their rights in the Collateral in any Insolvency or Liquidation Proceeding (but not including adequate protection in the form of a
cash payment, periodic cash payments or otherwise). 
 Section 6.4 No Waiver. Subject to Sections 3.1(e) and
6.3(b), nothing contained herein shall prohibit or in any way limit any First Lien Secured Party from objecting in any Insolvency or Liquidation Proceeding or otherwise to any action taken by the Second Lien Collateral Agent, any other Second
Lien Secured Party, the Third Lien Collateral Agent, or any other Third Lien Secured Party including the seeking by the Second Lien Collateral Agent, any other Second Lien Secured Party, the Third Lien Collateral Agent, or any other Third Lien
Secured Party of adequate protection, or the asserting by the Second Lien Collateral Agent, any other Second Lien Secured Party, the Third Lien Collateral Agent, or any other Third Lien Secured Party of any of its rights and remedies under the
Second Lien Financing Documents, the Third Lien Financing Documents or otherwise; provided, however, that this Section 6.4 shall not limit the rights of the Second Lien Secured Parties and the Third Lien
Secured Parties under Section 3.1(e) of this Agreement. Subject to Sections 3.1(e) and 6.3(b), after the Discharge of First Lien Obligations and until the Discharge of Second Lien Obligations, nothing
contained herein shall prohibit or in any way limit any Second Lien Secured Party from objecting in any Insolvency or Liquidation Proceeding or otherwise to any action taken by the Third Lien Collateral Agent or any other Third Lien Secured Party
including the seeking by the Third Lien Collateral Agent or any other Third Lien Secured Party of adequate protection, or the asserting by the Third Lien Collateral Agent or any other Third Lien Secured Party of any of its rights and remedies under
the Third Lien Financing Documents or otherwise; provided, however, that this Section 6.4 shall not limit the rights of the Third Lien Secured Parties under Section 3.1(e) of this
Agreement. 
 Section 6.5 Avoidance Issues. If any First Lien Secured Party is required in any Insolvency or Liquidation
Proceeding or otherwise to turn over or otherwise pay to the estate of any Grantor any amount paid in respect of First Lien Obligations (a “Recovery”), then such First Lien Secured Party shall be entitled to a reinstatement of First
Lien Obligations with respect to all such recovered amounts, and the Discharge of First Lien Obligations shall, to that extent, be deemed not to have occurred for all purposes hereunder. If this Agreement shall have been terminated prior to such
Recovery or any finding of the invalidity of a Lien of the First Lien Collateral Agent, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the
obligations of the parties hereto from such date of reinstatement. If any Second Lien Secured Party is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of any Grantor any amount paid in
respect of Second Lien Obligations (a “Second Lien Recovery”), then such Second Lien Secured Party shall, to that extent, be entitled to a reinstatement of Second Lien Obligations with respect to all such recovered amounts, and the
Discharge of Second Lien Obligations shall be deemed not to have occurred for all purposes hereunder. If this Agreement shall have been terminated prior to such Second Lien Recovery or any finding of the invalidity of a Lien of the Second Lien
Collateral Agent, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement. If
any Third Lien Secured Party is required in any Insolvency or Liquidation 

  
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Proceeding or otherwise to turn over or otherwise pay to the estate of any Grantor any amount paid in respect of Third Lien Obligations (a “Third Lien Recovery”), then such Third
Lien Secured Party shall, to that extent, be entitled to a reinstatement of Third Lien Obligations with respect to all such recovered amounts, and the Discharge of Third Lien Obligations shall be deemed not to have occurred for all purposes
hereunder. If this Agreement shall have been terminated prior to such Third Lien Recovery or any finding of the invalidity of a Lien of the Third Lien Collateral Agent, this Agreement shall be reinstated in full force and effect, and such prior
termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement. 

Section 6.6 Reorganization Securities. If, in any Insolvency or Liquidation Proceeding, debt obligations of the reorganized debtor
secured by Liens upon any property of the reorganized debtor are distributed pursuant to a plan of reorganization or similar dispositive restructuring plan, on account of First Lien Obligations, Second Lien Obligations or Third Lien Obligations,
then, to the extent the debt obligations distributed on account of the First Lien Obligations, Second Lien Obligations or Third Lien Obligations are secured by Liens upon the same property, the provisions of this Agreement will survive the
distribution of such debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations. 

Section 6.7 Voting. None of the Second Lien Collateral Agent, Second Lien Secured Parties, Third Lien Collateral Agent and Third
Lien Secured Parties shall support or vote in favor of any plan of reorganization (and each shall be deemed to have voted to reject any plan of reorganization) that is inconsistent with the terms of this Agreement. Without limiting the generality of
the foregoing, none of the Second Lien Collateral Agent, the Second Lien Secured Parties, the Third Lien Collateral Agent or the Third Lien Secured Parties shall support or vote in favor of any plan of reorganization unless such plan (a) pays
off, in cash in full, all First Lien Obligations or (b) is accepted by the class of holders of First Lien Obligations voting thereon in accordance with Section 1126(e) of the Bankruptcy Code. 

Section 6.8 Post-Petition Interest. (a) None of the Second Lien Collateral Agent, any other Second Lien Secured Party, the
Third Lien Collateral Agent or any other Third Lien Secured Party, shall oppose or seek to challenge any claim by any First Lien Secured Party for allowance in any Insolvency or Liquidation Proceeding of First Lien Obligations consisting of
post-petition interest, fees or expenses to the extent of the value of any First Lien Secured Party’s Lien, without regard to the existence of the Lien of the Second Lien Collateral Agent on behalf of the Second Lien Secured Parties and the
Third Lien Collateral Agent on behalf of the Third Lien Secured Parties on the Collateral. 
 (b) None of the First Lien Collateral Agent or
any other First Lien Secured Party shall oppose or seek to challenge any claim by the Second Lien Collateral Agent, any other Second Lien Secured Party, the Third Lien Collateral Agent or any other Third Lien Secured Party for allowance in any
Insolvency or Liquidation Proceeding of Second Lien Obligations or Third Lien Obligations consisting of post-petition interest, fees or expenses to the extent of the value of the Lien of the Second Lien Collateral Agent on behalf of the Second Lien
Secured Parties on the Collateral (after taking into account the rights of the First Lien Collateral Agent in the First Lien Collateral for the benefit of the other First Lien Secured Parties) or the Third Lien

  
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Collateral Agent on behalf of the Third Lien Secured Parties on the Collateral (after taking into account the rights of the First Lien Collateral Agent and the Second Lien Collateral Agent in the
First Lien Collateral and the Second Lien Collateral, respectively, and for the benefit of the other First Lien Secured Parties and Second Lien Secured Parties, respectively). 

(c) None of the Third Lien Collateral Agent or any other Third Lien Secured Party, shall oppose or seek to challenge any claim by any Second
Lien Secured Party for allowance in any Insolvency or Liquidation Proceeding of Second Lien Obligations consisting of post-petition interest, fees or expenses to the extent of the value of any Second Lien Secured Party’s Lien, without regard to
the existence of the Lien of the Third Lien Collateral Agent on behalf of the Third Lien Secured Parties on the Collateral. 

Section 6.9 Other Matters. To the extent that the Second Lien Collateral Agent, any Second Lien Secured Party, the Third Lien
Collateral Agent or any Third Lien Secured Party has or acquires rights under Section 363 or Section 364 of the Bankruptcy Code or any similar provision of any other Bankruptcy Law with respect to any of the Collateral, the Second Lien
Collateral Agent, on behalf of itself and the Second Lien Secured Parties, and the Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, agree not to assert any such rights without the prior written consent of the
First Lien Collateral Agent and with respect to the Third Lien Collateral Agent or any Third Lien Secured Party, the prior written consent of the Second Lien Collateral Agent, provided that if requested by the First Lien Collateral Agent or with
respect to the Third Lien Collateral Agent, the Second Lien Collateral Agent, the Second Lien Collateral Agent and the Third Lien Collateral Agent shall timely exercise such rights in the manner requested by the First Lien Collateral Agent or the
Second Lien Collateral Agent, as applicable, including any rights to payments in respect of such rights. 
 Section 6.10 Waiver.
Each of the Second Lien Collateral Agent, for itself and on behalf of the Second Lien Secured Parties, and the Third Lien Collateral Agent, for itself and on behalf of the Third Lien Secured Parties, waives any claim it may hereafter have against
any First Lien Secured Party arising out of the election of any First Lien Secured Party of the application of Section 1111(b)(2) of the Bankruptcy Code, and/or out of any cash collateral or financing arrangement or out of any grant of a
security interest in connection with the Collateral in any Insolvency or Liquidation Proceeding so long as such actions are not in express contravention of the terms of this Agreement. The Third Lien Collateral Agent, for itself and on behalf of the
Third Lien Secured Parties, waives any claim it may hereafter have against any Second Lien Secured Party arising out of the election of any Second Lien Secured Party of the application of Section 1111(b)(2) of the Bankruptcy Code, and/or out of
any cash collateral or financing arrangement or out of any grant of a security interest in connection with the Collateral in any Insolvency or Liquidation Proceeding so long as such actions are not in express contravention of the terms of this
Agreement. 
 Section 6.11 Separate Grants of Security and Separate Classification. Each of the First Lien Collateral Agent for
itself and on behalf of the First Lien Secured Parties, the Second Lien Collateral Agent, for itself and on behalf of the Second Lien Secured Parties, and the Third Lien Collateral Agent, for itself and on behalf of the Third Lien Secured Parties,
acknowledges and agrees that: 

  
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 (a) the grants of Liens pursuant to the First Lien Security Documents, the Second Lien
Security Documents and the Third Lien Security Documents constitute three separate and distinct grants of Liens; 
 (b) because of, among
other things, their differing rights in the Collateral, the Second Lien Obligations and Third Lien Obligations are fundamentally different from the First Lien Obligations, and the Third Lien Obligations are fundamentally different from the Second
Lien Obligations, and each must be separately classified in any plan of reorganization proposed or adopted in an Insolvency or Liquidation Proceeding; 

(c) the First Lien Obligations include all interest on First Lien Obligations that accrues after the commencement of any Insolvency or
Liquidation Proceeding of any Grantor at the rate provided for in the applicable First Lien Financing Documents, whether or not allowed or allowable, the Second Lien Obligations include all interest on Second Lien Obligations that accrues after the
commencement of any Insolvency or Liquidation Proceeding of any Grantor at the rate provided for in the applicable Second Lien Financing Documents, whether or not allowed or allowable and the Third Lien Obligations include all interest on Third Lien
Obligations that accrues after the commencement of any Insolvency or Liquidation Proceeding of any Grantor at the rate provided for in the applicable Third Lien Financing Documents, whether or not allowed or allowable; 

(d) the payment and satisfaction of all of the First Lien Obligations will be secured on an equal and ratable basis by the Liens established
in favor of the First Lien Collateral Agent for the benefit of the First Lien Secured Parties; the payment and satisfaction of all of the Second Lien Obligations will be secured on an equal and ratable basis by the Liens established in favor of the
Second Lien Collateral Agent for the benefit of the Second Lien Secured Parties; and the payment and satisfaction of all of the Third Lien Obligations will be secured on an equal and ratable basis by the Liens established in favor of the Third Lien
Collateral Agent for the benefit of the Third Lien Secured Parties; it being understood and agreed that nothing in this Section 6.11(d) is intended to alter the priorities as among the First Lien Secured Parties, the Second
Lien Secured Parties and the Third Lien Secured Parties, as provided in Section 2.1; and 
 (e) this Agreement
constitutes a “subordination agreement” under Section 510 of the Bankruptcy Code. 
 To further effectuate the intent of the parties as
provided in the immediately preceding sentence, if it is held that the claims against the Grantors in respect of the Collateral constitute only one secured claim (rather than three separate classes of secured claims), then each of the Second Lien
Collateral Agent, on behalf of the Second Lien Secured Parties, and the Third Lien Collateral Agent, on behalf of the Third Lien Secured Parties, hereby acknowledges and agrees that, all distributions pursuant to
Section 4.1 hereof or otherwise shall be made as if there were three separate classes of secured claims against the Grantors in respect of the Collateral (with the effect being that, to the extent that the aggregate value
of the Collateral is sufficient (for this purpose ignoring all claims held by the Second Lien Collateral Agent on behalf of the Second Lien Secured Parties and the Third Lien Collateral Agent, on behalf of the Third Lien Secured Parties), the First
Lien Secured Parties shall be entitled to receive, in addition to amounts 

  
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otherwise distributed to them in respect of principal, pre-petition interest and other claims, all amounts owing in respect of post-petition interest,
including any additional interest payable pursuant to the First Lien Financing Documents arising from or related to a default, which is disallowed as a claim in any Insolvency or Liquidation Proceeding before any distribution is made in respect of
the claims held by the Second Lien Secured Parties and the Third Lien Secured Parties with respect to the Collateral; each of the Second Lien Collateral Agent, for itself and on behalf of the Second Lien Secured Parties, and the Third Lien
Collateral Agent, on behalf of the Third Lien Secured Parties, hereby acknowledges and agrees to turn over to the First Lien Collateral Agent, for itself and on behalf of the First Lien Secured Parties, all amounts otherwise received or receivable
by them to the extent needed to effectuate the intent of this sentence (with respect to the payment of post-petition interest) even if such turnover of amounts has the effect of reducing the amount of the claim of the Second Lien Secured Parties and
the Third Lien Secured Parties). 
 ARTICLE VII. 

RELIANCE; WAIVERS; ETC. 

Section 7.1 Reliance. Other than any reliance on the terms of this Agreement, the First Lien Collateral Agent, on behalf of itself
and the First Lien Secured Parties, is hereby advised and acknowledges that the First Lien Secured Parties (other than the Initial First Lien Collateral Agent and the Initial First Lien Administrative Agent) have, independently and without reliance
on the Second Lien Collateral Agent, any Second Lien Secured Parties, the Third Lien Collateral Agent or any Third Lien Secured Parties and based on documents and information deemed by them appropriate, made their own credit analysis and decision to
enter into the First Lien Financing Documents and be bound by the terms of this Agreement and they will continue to make their own credit decision in taking or not taking any action under the First Lien Financing Documents or this Agreement. The
Second Lien Collateral Agent, on behalf of itself and the Second Lien Secured Parties, is hereby advised and acknowledges that the Second Lien Secured Parties (other than the Initial Second Lien Administrative Agent and the Initial Second Lien
Collateral Agent) have, independently and without reliance on any First Lien Secured Party or any Third Lien Secured Party, and based on documents and information deemed by them appropriate, made their own credit analysis and decision to enter into
each of the Second Lien Financing Documents and be bound by the terms of this Agreement and they will continue to make their own credit decision in taking or not taking any action under the Second Lien Financing Documents or this Agreement. The
Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, is hereby advised and acknowledges that the Third Lien Secured Parties have, independently and without reliance on any First Lien Secured Party or any Second Lien
Secured Party, and based on documents and information deemed by them appropriate, made their own credit analysis and decision to enter into each of the Third Lien Financing Documents and be bound by the terms of this Agreement and they will continue
to make their own credit decision in taking or not taking any action under the Third Lien Financing Documents or this Agreement. 

Section 7.2 No Warranties or Liability. The First Lien Collateral Agent, on behalf of itself and the First Lien Secured Parties
under the First Lien Financing Documents, acknowledges and agrees that each of the Second Lien Collateral Agent, the Second Lien 

  
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Secured Parties, the Third Lien Collateral Agent and the Third Lien Secured Parties have made no express or implied representation or warranty, including with respect to the execution, validity,
legality, completeness, collectibility or enforceability of any of the Second Lien Financing Documents, the Third Lien Financing Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon. Each of the Second Lien
Collateral Agent, on behalf of itself and the Second Lien Secured Parties, and the Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, acknowledges and agrees that the First Lien Secured Parties have made no express
or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectibility or enforceability of any of the First Lien Financing Documents, the ownership of any Collateral or the perfection or
priority of any Liens thereon. Except as otherwise provided herein, the First Lien Secured Parties, the Second Lien Secured Parties and the Third Lien Secured Parties will be entitled to manage and supervise their respective extensions of credit and
investment under, and provisions of, the First Lien Financing Documents, the Second Lien Financing Documents and the Third Lien Financing Documents, as applicable, in accordance with law and as they may otherwise, in their sole discretion, deem
appropriate. No Authorized Collateral Agent and their related Secured Parties shall have any duty to any other Authorized Collateral Agent or any of their related Secured Parties, in each case, to act or refrain from acting in a manner which allows,
or results in, the occurrence or continuance of an event of default or default under any agreements with any Grantor (including the Financing Documents), regardless of any knowledge thereof which they may have or be charged with. 

Section 7.3 No Waiver of Lien Priorities. (a) No right of any Secured Party or the Authorized Collateral Agent to enforce any
provision of this Agreement or any Financing Document shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of any Grantor or by any act or failure to act by any Secured Party or the Authorized Collateral
Agent, or by any noncompliance by any Person with the terms, provisions and covenants of this Agreement or any of the Financing Documents, regardless of any knowledge thereof which any Secured Parties may have or be otherwise charged with. 

(b) Without in any way limiting the generality of the foregoing paragraph (but subject to the rights of the Grantors under the First Lien
Financing Documents and subject to the provisions of Sections 5.1(a), 5.1(d), 5.3(a) and 5.5), the First Lien Secured Parties, the First Lien Collateral Agent and any of them may, at any time and from time to time in
accordance with the First Lien Financing Documents and/or applicable law, without the consent of, or notice to, any other Authorized Collateral Agent or Secured Party, without incurring any liabilities to any other Authorized Collateral Agent or
Secured Party and without impairing or releasing the Lien priorities and other benefits provided in this Agreement (even if any right of subrogation or other right or remedy of an Authorized Collateral Agent or any other Secured Party is affected,
impaired or extinguished thereby) do any one or more of the following: 
 (i) change the manner, place or terms of payment or
change or extend the time of payment of, or amend, renew, exchange, increase or alter, the terms of any of the First Lien Obligations or any Lien on any First Lien Collateral or guaranty thereof or any liability of any Grantor, or any liability
incurred directly or indirectly in respect thereof (including any increase in or extension of the First Lien Obligations, without any restriction as to the amount (subject to Section 5.3(a)

  
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hereof) tenor or terms of any such increase or extension) or otherwise amend, renew, exchange, extend, modify or supplement in any manner any Liens held by the First Lien Collateral Agent or any
of the First Lien Secured Parties, the First Lien Obligations or any of the First Lien Financing Documents; 
 (ii) sell,
exchange, release, surrender, realize upon, enforce or otherwise deal with in any manner and in any order any part of the First Lien Collateral or any liability of any Grantor to the First Lien Secured Parties or the First Lien Collateral Agent, or
any liability incurred directly or indirectly in respect thereof; 
 (iii) settle or compromise any First Lien Obligation or
any other liability of any Grantor or any security therefor or any liability incurred directly or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any liability (including the First Lien Obligations) in any
manner or order; and 
 (iv) exercise or delay in or refrain from exercising any right or remedy against any Grantor or any
security or any other Person, elect any remedy and otherwise deal freely with the Grantors or any First Lien Collateral and any security and any guarantor or any liability of any Grantor to the First Lien Secured Parties or any liability incurred
directly or indirectly in respect thereof. 
 (c) Except as otherwise provided herein, each of the Second Lien Collateral Agent, on behalf
of itself and the Second Lien Secured Parties, and the Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, agrees that the First Lien Secured Parties shall have no liability to the Second Lien Collateral Agent, any
Second Lien Secured Parties, the Third Lien Collateral Agent, or any Third Lien Secured Parties, and each of the Second Lien Collateral Agent, on behalf of itself and the Second Lien Secured Parties, and the Third Lien Collateral Agent, on behalf of
itself and the Third Lien Secured Parties, hereby waives any claim or defense against any First Lien Secured Party or the First Lien Collateral Agent arising out of any and all actions which the First Lien Secured Parties or the First Lien
Collateral Agent may take or permit or omit to take with respect to: 
 (i) the First Lien Financing Documents (other than
this Agreement); 
 (ii) the collection of the First Lien Obligations; or 

(iii) the foreclosure upon, or sale, liquidation or other Disposition of, any First Lien Collateral, other than the obligation
to conduct any sale in a commercially reasonable manner. 
 Each of the Second Lien Collateral Agent, on behalf of itself and the Second Lien Secured
Parties, and the Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, agrees that the First Lien Secured Parties have no duty to them in respect of the maintenance or preservation of the First Lien Collateral, the
First Lien Obligations or otherwise. 

  
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 (d) Until the Discharge of First Lien Obligations, each of the Second Lien Collateral Agent,
on behalf of itself and the Second Lien Secured Parties, and the Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, hereby waives and agrees not to assert, to the fullest extent permitted by law, any right to
demand, request, plead or otherwise assert or otherwise claim the benefit of, any marshalling, appraisal, valuation or other similar right that may otherwise be available under applicable law with respect to the Collateral or any other similar
rights a junior secured creditor may have with respect to the Collateral under applicable law. After the Discharge of First Lien Obligations and until the Discharge of Second Lien Obligations, the Third Lien Collateral Agent, on behalf of itself and
the Third Lien Secured Parties, hereby waives and agrees not to assert, to the fullest extent permitted by law, any right to demand, request, plead or otherwise assert or otherwise claim the benefit of, any marshalling, appraisal, valuation or other
similar right that may otherwise be available under applicable law with respect to the Collateral or any other similar rights a junior secured creditor may have with respect to the Collateral under applicable law. 

Section 7.4 Obligations Unconditional. All rights, interests, agreements and obligations of the Secured Parties hereunder shall
remain in full force and effect irrespective of: 
 (a) any lack of validity or enforceability of any Financing Documents or the perfection
or attachment of any liens thereunder; 
 (b) except as otherwise expressly set forth in this Agreement, any change in the time, manner or
place of payment of, or in any other terms of, all or any of the Obligations, or any amendment or waiver or other modification, including any increase in the amount thereof, whether by course of conduct or otherwise, of the terms of any Financing
Document; 
 (c) except as otherwise expressly set forth in this Agreement, any exchange of any security interest in any Collateral or any
other collateral, or any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise, of all or any of the Obligations or any guaranty thereof; 

(d) the commencement of any Insolvency or Liquidation Proceeding in respect of any Grantor; or 

(e) any other circumstances which otherwise might constitute a defense available to, or a discharge of, any Grantor in respect of any
Authorized Collateral Agent, any Debt Representative or any Secured Party, in each case in respect of this Agreement. 
 ARTICLE VIII.

 MISCELLANEOUS. 

Section 8.1 Notice of Event of Default. The First Lien Collateral Agent (for purposes of this paragraph only, including each
collateral agent for each series of First Lien Obligations) agrees to use reasonable efforts to notify each other Authorized Collateral Agent within ten (10) Business Days after obtaining actual knowledge of any First Lien Debt Default, the
Second Lien Collateral Agent will use reasonable efforts to notify each other Authorized Collateral Agent within ten (10) Business Days after obtaining actual knowledge of the occurrence of any Second

  
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Lien Debt Default and the Third Lien Collateral Agent will use reasonable efforts to notify each other Authorized Collateral Agent within ten (10) Business Days after obtaining actual
knowledge of the occurrence of any Third Lien Debt Default. Each Debt Representative agrees to promptly notify each other Debt Representative and each Authorized Collateral Agent of any “event of default” in respect of its respective
Financing Documents. 
 Section 8.2 Conflicts. In the event of any conflict between the provisions of this Agreement and the
provisions of any of the Financing Documents, the provisions of this Agreement shall govern and control. 
 Section 8.3
Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of lien subordination and the First Lien Secured Parties
may continue, at any time and without notice to any other Authorized Collateral Agent or any other Secured Party, to extend credit and other financial accommodations and lend monies to or for the benefit of the Grantors constituting First Lien
Obligations in reliance hereon. Each of the Second Lien Collateral Agent, on behalf of itself and the Second Lien Secured Parties, and the Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, hereby waives any right
it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any provision
of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such
provision in any other jurisdiction. All references to any Grantor shall include such Grantor as debtor and debtor-in-possession and any receiver or trustee for any
Grantor (as the case may be) in any Insolvency or Liquidation Proceeding. This Agreement shall terminate and be of no further force and effect: 

(a) with respect to the First Lien Secured Parties and the First Lien Obligations, on the date of Discharge of First Lien Obligations, subject
to Section 5.5 and the rights of the First Lien Secured Parties under Section 6.5; 

(b) with respect to the Second Lien Secured Parties and the Second Lien Obligations, on the Discharge of Second Lien Obligations, subject to
Section 5.5 and the rights of the Second Lien Secured Parties under Section 6.5; and 

(c) with respect to the Third Lien Secured Parties and the Third Lien Obligations, on the date of Discharge of Third Lien Obligations, subject
to Section 5.5 and the rights of the First Lien Secured Parties under Section 6.5; 

Notwithstanding the foregoing, such termination shall not relieve any party of its obligations incurred hereunder prior to such date of
termination. 
 Section 8.4 Amendments; Waivers. (a) No amendment, restatement, supplement, modification or waiver of any
of the provisions of this Agreement by any Authorized Collateral Agent or any Debt Representative shall be deemed to be made unless the same shall be in writing signed on behalf of such Debt Representative or Authorized Collateral Agent or its
authorized 

  
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agent and, solely to the extent such amendment, restatement, supplement, modification or waiver would be materially adverse to any Grantor, each such Grantor. Each waiver, if any, shall be a
waiver only with respect to the specific instance involved and shall in no way impair the rights of the parties making such waiver or the obligations of the other parties to such waiver in any other respect or at any other time. 

(b) Notwithstanding clause (a) above: 

(i) any amendment, restatement, supplement or other modification of this Agreement that has the effect solely of adding or
maintaining Collateral, securing additional indebtedness that is otherwise permitted by the terms of the Financing Documents and this Agreement to be secured by the Collateral or preserving, perfecting or establishing the Liens thereon or the rights
of an Authorized Collateral Agent therein will become effective when executed and delivered by the Company, any other applicable Grantor party thereto and the applicable Authorized Collateral Agent, or by the Company and any other applicable Grantor
party thereto, as applicable; and 
 (ii) no amendment, restatement, supplement or other modification of this Agreement that
imposes any obligation upon any Authorized Collateral Agent or any Debt Representative, or adversely affects the rights of any Authorized Collateral Agent or any Debt Representative, respectively, in each case, solely in its capacity as such, will
become effective without the consent of such Person. 
 (c) Notwithstanding Section 8.4(a) above, the Authorized
Collateral Agents and each applicable Grantor may, without the consent of any other Secured Party, enter into any amendment, restatement, supplement or other modification of this Agreement (i) contemplated by
Section 8.4(b) or (ii) to cure any ambiguity, defect or inconsistency or to correct or supplement any provision in such document that may be inconsistent with any other provision of a Security Document, as applicable,
or to further the intended purposes thereof or to provide additional benefits or rights to the Secured Parties, as applicable, so long as prior to the execution of any such amendment, restatement, supplement or other modification referred to in this
clause (c), each applicable Grantor shall have delivered to the Authorized Collateral Agents an Officers’ Certificate to the effect that such amendment, modification or waiver complies with the requirements of this clause (c).

 (d) Notwithstanding Section 8.4(a) above, each of the parties hereto agrees that, following a Refinancing of
any of the Obligations, made in accordance with Section 5.5, Section 5.7 or Section 5.8, as the case may be, any New Agent and the Grantors may, without the consent of any
other Secured Party, enter into any amendment, restatement, supplement or other modification of this Agreement solely to the extent necessary to confirm that the Liens granted by the applicable Refinance Security Documents in favor of the holders of
such new Obligations constitute Liens securing First Lien Obligations, Second Lien Obligations or Third Lien Obligations, as the case may be, and to confirm that such holders will be treated in the same manner as the First Lien Secured Parties,
Second Lien Secured Parties or Third Lien Secured Parties, as the case may be, under this Agreement, so long as prior to the execution of any such amendment, restatement, supplement or other modification referred to in this clause (d), each

  
 -56- 

 
applicable Grantor shall have delivered to each Debt Representative and each Authorized Collateral Agent (including without limitation the New Agents) an Officer’s Certificate to the effect
that such amendment, restatement, supplement or other modification complies with the requirements of this clause (d). 

Section 8.5 Information Concerning the Grantors. (a) The First Lien Secured Parties, the Second Lien Secured Parties and the
Third Lien Secured Parties, as respective groups, shall each be responsible for keeping themselves informed of (i) the financial condition of the Grantors and all endorsers and/or guarantors of the applicable Obligations, and (ii) all
other circumstances bearing upon the risk of nonpayment of the applicable Obligations. 
 (b) No Secured Party shall have any duty to advise
any other Secured Party of information known to it regarding such condition or any such circumstances or otherwise. In the event any of the Secured Parties, in its sole discretion, undertakes at any time or from time to time to provide any such
information to any other Secured Party, it shall be under no obligation: 
 (i) to make, and such Secured Parties shall not
make, any express or implied representation or warranty, including with respect to the accuracy, completeness, truthfulness or validity of any such information so provided; 

(ii) to provide any additional information or to provide any such information on any subsequent occasion; 

(iii) to undertake any investigation; or 

(iv) to disclose any information which, pursuant to accepted or reasonable commercial finance practices, such party wishes to
maintain confidential or is otherwise required to maintain confidential. 
 Section 8.6 Subrogation. With respect to the value
of any payments or distributions in cash, property or other assets that any of the Second Lien Secured Parties or the Second Lien Collateral Agent or any of the Third Lien Secured Parties or the Third Lien Collateral Agent, respectively, pays over
to the First Lien Collateral Agent or the First Lien Secured Parties under the terms of this Agreement, the Second Lien Secured Parties or Third Lien Secured Parties, as applicable, shall be subrogated to the rights of the First Lien Secured
Parties; provided that, each of the Second Lien Collateral Agent, on behalf of itself and the other Second Lien Secured Parties and the Third Lien Collateral Agent, on behalf of itself and the other Third Lien Secured Parties, hereby agrees
not to assert or enforce any such rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of First Lien Obligations has occurred. With respect to the value of any payments or distributions in cash, property or
other assets that any of the Third Lien Secured Parties or the Third Lien Collateral Agent, pays over to the Second Lien Collateral Agent or the Second Lien Secured Parties under the terms of this Agreement, the Third Lien Secured Parties shall be
subrogated to the rights of the Second Lien Secured Parties; provided that, the Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, hereby agrees not to assert or enforce any such rights of subrogation it may
acquire as a result of any payment hereunder until the Discharge of Second Lien Obligations has occurred. The Grantors acknowledge and agree that the value of any payments or distributions 

  
 -57- 

 
in cash, property or other assets received by (a) the Second Lien Collateral Agent or the Second Lien Secured Parties or the Third Lien Collateral Agent or the Third Lien Secured Parties,
respectively, that are paid over to the First Lien Collateral Agent or the First Lien Secured Parties pursuant to this Agreement shall not reduce any of the Second Lien Obligations or the Third Lien Obligations, respectively and (b) the Third
Lien Collateral Agent or the Third Lien Secured Parties that are paid over to the Second Lien Collateral Agent or the Second Lien Secured Parties pursuant to this Agreement shall not reduce any of the Third Lien Obligations. 

Section 8.7 Application of Payments. All payments received by the First Lien Collateral Agent or the First Lien Secured Parties
may be applied, reversed and reapplied, in whole or in part, to such part of the First Lien Obligations provided for in the First Lien Financing Documents. All payments received by the Second Lien Collateral Agent or any other Second Lien Secured
Party after the Discharge of First Lien Obligations may be applied, reversed and reapplied, in whole or in part, to such part of the Second Lien Obligations provided for in the Second Lien Financing Documents. All payments received by the Third Lien
Collateral Agent or any other Third Lien Secured Party after the Discharge of First Lien Obligations and Second Lien Obligations may be applied, reversed and reapplied, in whole or in part, to such part of the Third Lien Obligations provided for in
the Third Lien Financing Documents. The Second Lien Collateral Agent, on behalf of itself and the Second Lien Secured Parties assents to any extension or postponement of the time of payment of the First Lien Obligations or any part thereof and to
any other indulgence with respect thereto, and subject to the other provisions of this Agreement, to any substitution, exchange or release of any security which may at any time secure any part of the First Lien Obligations and to the addition or
release of any other Person primarily or secondarily liable therefor. The Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties assents to any extension or postponement of the time of payment of the First Lien
Obligations, the Second Lien Obligations or any part thereof and to any other indulgence with respect thereto, and subject to the other provisions of this Agreement, to any substitution, exchange or release of any security which may at any time
secure any part of the First Lien Obligations or the Second Lien Obligations (as the case may be) and to the addition or release of any other Person primarily or secondarily liable therefor. 

Section 8.8 SUBMISSION TO JURISDICTION; WAIVERS. (a) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT SHALL BE
BROUGHT EXCLUSIVELY IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY OR OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH PARTY HEREBY ACCEPTS FOR ITSELF
AND (TO THE EXTENT PERMITTED BY LAW) IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS; PROVIDED THAT, SUBJECT TO THE OTHER LIMITATIONS SET FORTH HEREIN, NOTHING IN THIS SECTION 8.8
SHALL BE DEEMED OR OPERATE TO PRECLUDE (I) ANY AUTHORIZED COLLATERAL AGENT OR DEBT REPRESENTATIVE FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO REALIZE ON THE COLLATERAL OR ANY OTHER SECURITY FOR THE OBLIGATIONS
UNDER THE APPLICABLE FINANCING DOCUMENTS, OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF ANY AUTHORIZED COLLATERAL AGENT OR DEBT REPRESENTATIVE OR (II) ANY 

  
 -58- 

 
PARTY FROM BRINGING ANY LEGAL ACTION OR PROCEEDING IN ANY JURISDICTION FOR THE RECOGNITION AND ENFORCEMENT OF ANY JUDGMENT. EACH PARTY HEREBY AGREES THAT A FINAL JUDGMENT IN ANY SUCH LEGAL 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. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING, WITHOUT LIMITATION, ANY OBJECTION TO THE
LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY SUCH ACTION OR PROCEEDING IN SUCH RESPECTIVE JURISDICTIONS. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH PARTY, FOR
ITSELF, IN CONNECTION WITH ITS PROPERTIES AND ON BEHALF OF THE RESPECTIVE SECURED PARTIES IT REPRESENTS, IRREVOCABLY (I) ACCEPTS GENERALLY AND UNCONDITIONALLY THE EXCLUSIVE JURISDICTION AND VENUE OF THE COURTS DESCRIBED IN THE FIRST SENTENCE OF
THIS SECTION 8.8(); (II) WAIVES ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING IN ANY SUCH COURT OR THAT SUCH ACTION OR PROCEEDING WAS BROUGHT IN AN INCONVENIENT COURT AND AGREES NOT TO PLEAD OR CLAIM
THE SAME; (III) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH ACTION OR PROCEEDING MAY BE MADE BY REGISTERED OR CERTIFIED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE PREPAID, TO THE APPLICABLE PARTY AT ITS ADDRESS PROVIDED IN
ACCORDANCE WITH SECTION 8.9 HEREOF; PROVIDED HOWEVER THAT, EACH GRANTOR INCORPORATED UNDER THE LAWS OF MEXICO, HEREBY APPOINTS THE COMPANY, AS AUTHORIZED AGENT FOR SERVICE OF PROCESS IN ANY LEGAL ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS AGREEMENT, AND AGREES TO GRANT, AS SOON AS POSSIBLE, BUT IN ANY EVENT WITHIN THE 5 BUSINESS DAYS FOLLOWING THE DATE OF EXECUTION OF THIS AGREEMENT, A POWER OF ATTORNEY FOR LAWSUITS AND COLLECTIONS (PODER PARA PLEITOS Y
COBRANZAS) IN TERMS OF THE FIRST PARAGRAPH OF ARTICLE 2554 OF THE FEDERAL CIVIL CODE (CÓDIGO CIVIL FEDERAL) AND ITS CORRELATIVE ARTICLES IN THE CIVIL CODES OF THE FEDERAL ENTITIES OF MEXICO BEFORE A MEXICAN NOTARY PUBLIC IN FAVOR
OF THE COMPANY; (IV) AGREES THAT SERVICE AS PROVIDED IN CLAUSE (III) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER THE APPLICABLE PARTY IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND
BINDING SERVICE IN EVERY RESPECT; AND (V) AGREES THAT NOTHING HEREIN SHALL AFFECT THE RIGHT TO EFFECT SERVICE OF PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. 

(b) EACH OF THE PARTIES HERETO, ON BEHALF OF ITSELF AND THE RESPECTIVE SECURED PARTIES IT REPRESENTS, IF APPLICABLE, HEREBY AGREES TO WAIVE
ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING HEREUNDER. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN
ANY COURT AND THAT RELATE TO THE SUBJECT MATTER HEREOF, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF 

  
 -59- 

 
DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY HERETO, ON BEHALF OF ITSELF AND THE RESPECTIVE SECURED PARTIES IT REPRESENTS, IF APPLICABLE, ACKNOWLEDGES THAT THIS WAIVER IS
A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT EACH WILL CONTINUE TO RELY ON THIS WAIVER IN ITS RELATED FUTURE DEALINGS. EACH PARTY HERETO, ON BEHALF
OF ITSELF AND THE RESPECTIVE SECURED PARTIES IT REPRESENTS, IF APPLICABLE, FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING
CONSULTATION WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SECTION 8.8(b) AND EXECUTED BY EACH OF THE
PARTIES HERETO), AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 

(c) EACH PARTY HERETO, ON BEHALF OF ITSELF AND THE RESPECTIVE SECURED PARTIES IT REPRESENTS, IF APPLICABLE, WAIVES ANY RIGHT IT MAY HAVE TO
TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER FINANCING DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, VERBAL OR WRITTEN STATEMENT OR ACTION OF ANY PARTY
HERETO. 
 (d) NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THIS SECTION 8.8, WITH RESPECT TO ANY DISPUTE INVOLVING ANY GRANTOR INCORPORATED
UNDER THE LAWS OF MEXICO, EACH OF THE PARTIES HERETO (i) EXPRESSLY, IRREVOCABLY AND UNCONDITIONALLY AGREES TO SUBMIT FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY,
AND OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF; AND (ii) WAIVES ANY OTHER JURISDICTION TO WHICH IT MAY BE ENTITLED BY REASON OF ITS PRESENT OR FUTURE DOMICILE OR OTHERWISE.

 Section 8.9 Notices. All notices to the Secured Parties permitted or required under this Agreement shall also be sent to the
applicable Authorized Collateral Agent. Unless otherwise specifically provided herein, any notice, request or other communication herein required or permitted to be given shall be in writing and may be personally served, faxed, electronically mailed
or sent by United States mail or courier service. All notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid,
if mailed; when receipt acknowledged, if telecopied; and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery and shall 

  
 -60- 

 
be deemed to have been given when delivered in person or by courier service, upon receipt of electronic mail, facsimile, or United States mail (registered or certified) with postage prepaid and
properly addressed. For the purposes hereof, the addresses of the parties hereto shall be as set forth below each party’s name on the signature pages attached hereto or, with respect to any Debt Representative or Authorized Collateral Agent
that becomes a party hereto after the date hereof, at such address as such Person may specify in the applicable Joinder, or, as to each party, at such other address as may be designated by such party in a written notice to all of the other parties.

 Section 8.10 Further Assurances. The First Lien Collateral Agent, on behalf of itself and the First Lien Secured Parties, the
Second Lien Collateral Agent, on behalf of itself and the Second Lien Secured Parties, the Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, and the Grantors, agree that each of them shall take such further action
and shall execute and deliver such additional documents and instruments (in recordable form, if requested) as the applicable Authorized Collateral Agent may reasonably request to effectuate the terms of and the Lien priorities contemplated by this
Agreement. 
 Section 8.11 APPLICABLE LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK. 
 Section 8.12 Binding on Successors and Assigns. This Agreement shall be binding upon the Authorized
Collateral Agents, the Secured Parties and their respective successors and assigns. If any one of the Authorized Collateral Agents resigns or is replaced pursuant to the Financing Documents, its successor shall be deemed to be a party to this
Agreement and shall have all of the rights of and be subject to all of the obligations of this Agreement. 
 Section 8.13 Specific
Performance. Each of the Authorized Collateral Agents may demand specific performance of this Agreement. The First Lien Collateral Agent, on behalf of itself and the First Lien Secured Parties, the Second Lien Collateral Agent, on behalf of
itself and the Second Lien Secured Parties, and the Third Lien Collateral Agent, on behalf of itself and the Third Lien Secured Parties, hereby irrevocably waive any defense based on the adequacy of a remedy at law and any other defense which might
be asserted to bar the remedy of specific performance in any action which may be brought by any of the Authorized Collateral Agents or the Secured Parties. 

Section 8.14 Headings. Section headings in this Agreement are included herein for convenience of reference only and shall not
constitute a part of this Agreement for any other purpose or be given any substantive effect. 
 Section 8.15 Counterparts. This
Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed
counterpart of a signature page of this Agreement or any document or instrument delivered in connection herewith by email or facsimile shall be effective as delivery of a manually executed counterpart of this Agreement or such other document or
instrument, as applicable. 

  
 -61- 

 Section 8.16 Authorization. By its signature, each Person executing this
Agreement on behalf of a party hereto represents and warrants to the other parties hereto that it is duly authorized to execute this Agreement and this Agreement, when executed and delivered by the First Lien Collateral Agent and the Second Lien
Collateral Agent (and when a joinder is executed and delivered by the Third Lien Collateral Agent) will constitute the valid and legally binding obligation of each of the First Lien Collateral Agent, the Second Lien Collateral Agent and the Third
Lien Collateral Agent, respectively, enforceable in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium fraudulent transfer, fraudulent conveyance or similar laws
affecting the enforcement of creditors’ rights generally and by equitable principles. 
 Section 8.17 No Third-Party
Beneficiaries. This Agreement and the rights and benefits hereof shall inure to the benefit of each of the parties hereto and its respective successors and assigns and shall inure to the benefit of each of the Secured Parties. No other Person
shall have or be entitled to assert rights or benefits hereunder and shall not be deemed to be a third-party beneficiary hereof. Nothing in this Agreement shall impair, as between the Grantors and the Secured Parties, the obligations of the Grantors
to pay principal, interest, fees and other amounts as provided in the applicable Financing Documents. 
 Section 8.18 Provisions
Solely to Define Relative Rights. The provisions of this Agreement are and are intended solely for the purposes of defining the relative rights of the First Lien Secured Parties, the Second Lien Secured Parties and the Third Lien Secured
Parties, each as a respective group. None of the Grantors or any other creditor thereof shall have any rights hereunder and no Grantor may rely on the terms hereof. Nothing in this Agreement is intended to or shall impair the obligations of the
Grantors, which are absolute and unconditional, to pay the Obligations as and when the same shall become due and payable in accordance with their term. 

Section 8.19 Additional Grantors. The Company shall cause each of its subsidiaries that becomes a Grantor or is required by any
Financing Document to become a party to this Agreement to become a party to this Agreement by causing such subsidiary to execute and deliver to the parties hereto a Grantor Joinder, pursuant to which such subsidiary shall agree to be bound by the
terms of this Agreement to the same extent as if it had executed and delivered this Agreement as of the date hereof. The Company agrees to provide to each Debt Representative and Authorized Collateral Agent a copy of each Grantor Joinder executed
and delivered pursuant to this Section 8.19. 
 [Signature Pages Follow] 

  
 -62- 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above. 
  

			
	 WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Initial First Lien Collateral Agent

 
			
		
	By:	 	 /s/ Nicole Kroll

	Name: Nicole Kroll
	 Title: Assistant Vice President

  

			
	 Address:
	 	 50 South Sixth St., Suite 1290
 Minneapolis, MN
55402

  

			
	 WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Initial First Lien Administrative Agent

 
			
		
	By:	 	 /s/ Nicole Kroll

	Name: Nicole Kroll
	 Title: Assistant Vice
President

  

			
	 Address:
	 	 50 South Sixth St., Suite 1290
 Minneapolis, MN
55402

  
 [Signature Page to
Intercreditor Agreement] 

 
			
	 WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Second Lien Collateral Agent

 
			
		
	By:	 	 /s/ Nicole Kroll

	Name: Nicole Kroll
	 Title: Assistant Vice
President

  

			
	 Address:
	 	 50 South Sixth St., Suite 1290
 Minneapolis, MN
55402

  

			
	 WILMINGTON TRUST, NATIONAL ASSOCIATION,

as Initial Second Lien Administrative Agent

 
			
		
	By:	 	 /s/ Nicole Kroll

	Name: Nicole Kroll
	 Title: Assistant Vice
President

  

			
	 Address:
	 	 50 South Sixth St., Suite 1290
 Minneapolis, MN
55402

  
 [Signature Page to
Intercreditor Agreement] 

 Acknowledged and Agreed to by: 

 

			
	HORNBECK OFFSHORE SERVICES, INC.
	 HORNBECK OFFSHORE SERVICES, LLC

	 HORNBECK OFFSHORE TRANSPORTATION, LLC

	 HOS-IV, LLC

	 HORNBECK OFFSHORE TRINIDAD & TOBAGO, LLC

	 HORNBECK OFFSHORE OPERATORS, LLC

	 ENERGY SERVICES PUERTO RICO, LLC

	 HORNBECK OFFSHORE INTERNATIONAL, LLC

	 HOS PORT, LLC

	 HOS HOLDING, LLC

	 HOI HOLDING,
LLC

 
			
		
	By:	 	 /s/ James O. Harp, Jr.

	 Name: James O. Harp, Jr.

	 Title: Executive Vice President and Chief Financial Officer

	
	 HOS DE MEXICO II, S. DE R.L. DE
C.V.

 
			
		
	By:	 	 /s/ Samuel A. Giberga

	 Name: Samuel A. Giberga

	 Title: Vice President

  
 [Signature Page to
Intercreditor Agreement] 

 SCHEDULE 1 

Intercreditor Agreement 

U.S.-FLAG VESSELS1 

 

						
	 VESSEL NAME
	  	OFFICIAL NUMBER
	 HOS BAYOU 
	  	 	 	1244577	
	 HOS BEIGNET 
	  	 	 	1097129	
	 HOS BLACK FOOT 
	  	 	 	1244582	
	 HOS BLACK ROCK 
	  	 	 	1244583	
	 HOS BLACK WATCH 
	  	 	 	1244581	
	 HOS BLUEWATER 
	  	 	 	1136268	
	 HOS BOUDIN 
	  	 	 	1088474	
	 HOS BOURRE
	  	 	 	1076184	
	 HOS BRIARWOOD 
	  	 	 	1244594	
	 HOS BRIMSTONE 
	  	 	 	1124426	
	 HOS CALEDONIA 
	  	 	 	1244585	
	 HOS CAPTAIN
	  	 	 	1244589	
	 HOS CAROLINA
	  	 	 	1244587	
	 HOS CAROUSEL 
	  	 	 	1246522	
	 HOS CAYENNE 
	  	 	 	1076117	
	 HOS CEDAR RIDGE 
	  	 	 	1246521	
	 HOS CENTERLINE 
	  	 	 	981472	
	 HOS CHICORY 
	  	 	 	1076182	
	 HOS CLAYMORE 
	  	 	 	1244588	
	 HOS CLEARVIEW 
	  	 	 	1244579	
	 HOS COLT
	  	 	 	1253896	
	 HOS COMMANDER 
	  	 	 	1244578	
	 HOS COQUILLE 
	  	 	 	1076183	
	 HOS CROCKETT 
	  	 	 	1244584	
	 HOS GEMSTONE 
	  	 	 	1141952	
	 HOS GREYSTONE 
	  	 	 	1144440	
	 HOS LODE STAR 
	  	 	 	1205155	
	 HOS MYSTIQUE 
	  	 	 	1205143	
	 HOS NORTH STAR
	  	 	 	1205154	
	 HOS PINNACLE 
	  	 	 	1205149	
	 HOS POLESTAR 
	  	 	 	1205152	
	 HOS RED DAWN 
	  	 	 	1244590	
	 HOS RED ROCK 
	  	 	 	1244591	
	 HOS RENAISSANCE 
	  	 	 	1244592	
	 HOS RESOLUTION 
	  	 	 	1205144	
	 HOS RIDGEWIND 
	  	 	 	1114862	

  

	1 	 NTD: Schedules subject to update to account for any subsequent
re-flagging. 

  
 Schedule 1-1 

						
	 HOS RIVERBEND 
	  	 	 	1244595	
	 HOS SANDSTORM 
	  	 	 	1124424	
	 HOS SHOOTING STAR 
	  	 	 	1205153	
	 HOS SILVERSTAR 
	  	 	 	1144439	
	 HOS STORMRIDGE 
	  	 	 	1124421	
	 HOS STRONGLINE 
	  	 	 	988333	
	 HOS WARLAND
	  	 	 	1253611	
	 HOS WARHORSE
	  	 	 	1258860	
	 HOS WILD HORSE
	  	 	 	1258861	
	 HOS WILDWING
	  	 	 	1205151	
	 HOS WINDANCER 
	  	 	 	1205150	
	 HOS WOODLAND 
	  	 	 	1253612	

  
 Schedule 1-2 

 SCHEDULE 2 

Intercreditor Agreement 

MEXICAN-FLAG VESSELS 
  

						
	 VESSEL NAME
	  	OFFICIAL NUMBER
	 HOS BROWNING
	  	 	 	[—	]
	 HOS CORAL
	  	 	 	[—	]
	 HOS CRESTVIEW
	  	 	 	[—	]
	 HOS REMINGTON
	  	 	 	[—	]
	 HOS SILVER ARROW
	  	 	 	[—	]
	 HOS SWEET WATER
	  	 	 	[—	]
	 HOS WINCHESTER
	  	 	 	[—	]

  
 Schedule 2-1 

 SCHEDULE 3 

Intercreditor Agreement 

VESSEL MORTGAGES ON U.S.-FLAG VESSELS 

First Preferred Fleet Mortgage, dated as of June 15, 2017, granted by Hornbeck Offshore Services, LLC, as Shipowner, in favor of Wilmington Trust,
National Association, as Collateral Agent, as Trustee/Mortgagee, which was filed with the National Vessel Documentation Center of the U.S. Coast Guard (the “NVDC”) on June 16, 2017 at 2:30 p.m. and recorded in Batch 45258800
with Document ID 3, as amended by First Amendment to First Preferred Fleet Mortgage, dated September 20, 2018, which was filed with the NVDC on September 21, 2018 at 10:36 a.m. and recorded in Batch 56549800 with Document ID 4. 

Second Preferred Fleet Mortgage, dated as of February 7, 2019, granted by Hornbeck Offshore Services, LLC, as Shipowner, in favor of Wilmington Trust,
National Association, as Collateral Agent, as Trustee/Mortgage2 
  

	2 	 NTD: Description to be updated with NVDC filing information. 

  
 Schedule 3-1 

 SCHEDULE 4 

Intercreditor Agreement 

VESSEL MORTGAGES ON MEXICAN-FLAG VESSELS 

First Lien Maritime Mortgage, dated as of May 11, 2018, by and among HOS de Mexico II, S. de R.L. de C.V., as Mortgagor, and Wilmington Trust, National
Association, as Collateral Agent, as Mortgagee 
 Second Lien Maritime Mortgage, dated as of [-], 2019, by and among HOS de Mexico II, S. de R.L. de C.V.,
as Mortgagor, and Wilmington Trust, National Association, as Collateral Agent, as Mortgagee 

  
 Schedule 4-1

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